Expedited Funds Availability Amendment
Effective July 21st, 2011
Our general policy is to allow you to withdrawal funds deposited in your account the day we receive your deposit. In some cases, we may delay your ability to withdrawal funds beyond the first business day. Then the funds will generally be available by the second business day after the deposit.
Dodd-Frank Section 1086(e) requires all financial institutions to make $200 available immediately instead of the $100. The Bank of Magnolia's policy is to make funds from your check deposits available to you on the second business day after the day we recieve your deposit, with the first $200 available on the first business day after the day of your deposit.