BANKING

Funds Availability Policy

(Consumer and Business Accounts)

We have adopted a policy designed to give You prompt access to your deposited funds. Our policy is to make funds from your deposits available to You on the first business day after the day We receive your deposit. Once they are available, You can withdraw the funds in cash, use the funds for point-of-sale (POS) transactions and We will use the funds to pay checks that You have written. Electronic direct deposits will be available on the effective date of the deposit as set forth in the following information. However, holds may be placed on a case-by-case basis, and for specific reasons as allowed under applicable law, in which case We will mail You a notice the first business day after We receive your deposit and tell You when the funds will be available. When a case-by-case hold is invoked, funds may not be available until the second business day after the day of your deposit. However, the first $200 will be available on the first business day after the day of deposit. You should ask if You need to be sure when a particular deposit will be available for withdrawal. For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and Bank Holidays. Deposits made by mail must be directed to the following address: State Farm Bank, F.S.B., P.O. Box 2316, Bloomington, IL 61702-2316. Deposits cannot be made in person or at any other address, including any office of a State Farm agent.

If You make a deposit on a business day that We are open before:

  • 3PM Central time for deposits made by mail (deposits by mail are deemed made upon receipt by Us), We will consider that day to be the day of your deposit.
  • 6PM Central time for Automated Teller Machine (ATM) deposits (funds deposited at an ATM are considered deposited when they are received at the ATM), We will consider that day to be the day of your deposit.
  • 6PM Central time for electronic funds transfer deposits initiated via internet, We will consider the next business day to be the day of your deposit.
  • 11PM Central time for electronic funds transfer deposits completed through our Bank Operations Center, We will consider the next day to be the day of your deposit.

If You make a deposit on a day We are not open or after:

  • 3PM Central time for deposits made by mail (deposits by mail are deemed made upon receipt by Us), We will consider that the deposit was made on the next business day We are open.
  • 6PM Central time for ATM deposits (funds deposited at an ATM are considered deposited when they are received at the ATM), We will consider that the deposit was made on the next business day We are open.
  • 6PM Central time for electronic funds transfer deposits initiated via internet, We will consider the second business day to be the day of your deposit.
  • 11PM Central time for electronic funds transfer deposits completed through our Bank Operations Center, We will consider the second business day to be the day of your deposit.

Transferred Funds Availability Schedule

Immediate Availability

Funds transferred via the internet between State Farm Bank deposit accounts are available for immediate use.

Substitute Checks and Your Rights

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