When do deposits become available for use?
When depositing cash, the funds become immediately available for withdrawal. A maximum of $500 per day is available for withdrawal from ATMs.
When receiving funds electronically though ACH/electronic payment processing, the full amount is completely available within 3 business days (when the transaction with the other institution is complete).
When depositing checks there is a limit on how much is made available for immediate access (from $500 to $2500, if you qualify). The actual amount is mostly dependent on number and type of other accounts you have with Provident. We place temporary holds on the remainder, in order to limit our exposure to fraud as we wait for checks to clear. This remainder typically becomes available with 7 days. New members may have to wait up to 9 days for all funds to be made available for withdrawal.
How do I qualify for immediate availability of my deposit?
To qualify for immediate access to some or all of your deposited funds, you must have a checking account with Provident and your accounts must all be in good standing. All checking accounts qualify, except for Business Checking and Fresh Start Checking. You do not need to enroll or sign up for anything; if you have a qualifying checking account that has been opened for at least 91 days and your accounts are in good standing, you get the benefit of immediate access to $500-$2500 of your deposit.
Is the amount available per deposit, per check, or what?
The amount available is for all checks deposited within a single business day. The cut-off times for deposits are as follows:
- ATM: 12pm
- e-Deposit: 3pm (including mobile app deposits)
- Branches: 3pm
Deposits that occur after these times are considered for this purpose to be part of the next day's deposits.
Why don't I have immediate access to all my money?
Holds are placed on deposited funds to limit the potential damage that results from fraud. It is impossible to know ahead of time who might commit such fraud.
What is meant by "good standing"?
All of your Provident accounts must be in good standing in order to qualify for early release of a check that is being held awaiting clearing. There are restrictions on checking accounts that have a negative balance or more than six
When do funds from cashier's checks become available?
When you deposit a cashier's check into your own account, the funds are almost always made available within one working day, except when not deposited in person, or when it is a new account, or when there is reasonable cause to doubt collectibility. Beware though, that if the successfully deposited check is fraudulent, you don't get to keep the funds. Learn more about cashier's check fraud.
When do funds from transfers become available?
When you transfer from one Provident account to another, whether within the same membership or via cross-account transfer, the funds are available immediately (or on the day you scheduled them) in the account you transferred to. This includes transfers from a Provident Visa or line of credit, which are counted as cash advances.
Online transfers to a Provident loan are considered loan payments. To guarantee a transferred payment to a Provident fixed term loan is applied on the same day, the transfer should be made before 7 pm on a business day. Otherwise, transfers to loans may not be applied until the next business day.
Online payment transfers made to a Provident Visa are paid immediately, if transferred before 1 pm. Otherwise, it will be paid on the following business day. Note that in some locations, such as the Visa account details page within online banking, the transaction will not be visible until the evening of the same day (or the evening of the next business day if paid after 1 pm). The amount of the transaction will be available elsewhere in online banking (such as the Summary of Balances page or Transfers page) on the following business morning after that.
Incoming external account transfers (transfers from a non-Provident account, as they show up in the online banking "Transfers" page "from" menu) are a form of ACH funds transfer, which take 3 business days to be received by Provident and made available to you.
How do held funds impact Courtesy Pay Overdraft, Overdraft Transfer Protection, etc.?
Held funds (the amount of the deposit that is not immediately available) will reduce the amount of funds in your available balance. Your remaining available balance must be sufficient to cover checks and other debits that post to your account, or you may incur charges for Overdraft Transfer Protection, Courtesy Pay Overdraft, or Non-Sufficient Funds (NSF) Fees.