PURPOSE OF THIS DISCLOSURE. Our general policy is to allow you to withdraw funds deposited in an account on the first Business Day after the day of deposit. Funds from electronic direct deposits will be available on the day we receive the deposit. In some cases, we may delay your ability to withdraw funds beyond the first Business Day after the day of deposit. Our complete policy is summarized below.

For purposes of this disclosure, the terms “you”/”your” refer to the customer and the terms “our”/”we”/”us” refer to The Village Bank. The term “account” includes any demand deposit, negotiable withdrawal order account, savings deposit or other asset account.

YOUR ABILITY TO WITHDRAW FUNDS. Our policy is to delay the availability of funds from your check deposits. During the delay, you may not withdraw the funds in cash, and we will not use the funds to pay checks that you have written. If you make a deposit before the close of business on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after the close of business or on a day that we are not open, we will consider the deposit made on the next business day we are open.

DEPOSITS AT OTHER LOCATIONS. This availability policy only applies to funds deposited at The Village Bank. Please inquire for information about the availability of funds deposited at other locations

DETERMINING THE AVAILABILITY OF YOUR DEPOSIT. The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays.

The length of the delay varies depending on the type of deposit and is explained below.

SAME-DAY AVAILABILITY. Funds from electronic direct deposits to your account, as well as funds from the following deposits, will be available on the same business day that we receive the deposit:
– Cash, if the deposit is made in person to one of our employees
– Wire transfers
– U.S. Treasury checks that are payable to you
– U.S. Postal Service money orders that are payable to you and the deposit is made in person to one of our employees
– Federal Reserve Bank or Federal Home Loan Bank checks that are payable to you and the deposit is made in person to one of our employees
– State or Local government checks that are payable to you and the deposit is made in person to one of our employees
– Cashier’s, Certified, or Teller’s checks that are payable to you and the deposit is made in person to one of our employees
– Checks drawn on The Village Bank

NEXT-DAY AVAILABILITY. Funds from the following deposits are available on the first business day after the day of your deposit:

AVAILABILITY FOR CERTAIN DEPOSITS NOT MADE IN PERSON. If you do not make your cash deposits or deposits from state and local government checks that are payable to you; cashier’s, certified, and teller’s checks that are payable to you; or Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you, in person to one of our employees (for example, if you mail the deposit), funds from your cash deposits will be made available on the first business day after the day we receive your deposit and funds from these check deposits will be available on the second business day after the day we receive your deposit.

AVAILABILITY OF OTHER CHECK DEPOSITS. The first $6,725.00 from a deposit of other checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit. For example, if $275.00 is initially made available to you and if you deposit a check of $700.00 on Monday, $275.00 of the deposit will be available on Tuesday. The remaining $425.00 will be available on Wednesday.

LONGER DELAYS MAY APPLY. Funds you deposit by check may be delayed for a longer period under the following circumstances:
(a) if we believe a check you deposit will not be paid;
(b) if you deposit checks totaling more than $6,725.00 on any one day;
(c) if you redeposit a check that has been returned unpaid;
(d) if you have overdrawn your account repeatedly in the last six months; or
(e) if an emergency condition arises that would not enable us to make the funds available to you, such as the failure of computer or communications equipment.

We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the sixth business day after the day of your deposit.

HOLDS ON OTHER FUNDS FOR CHECK CASHING. If we cash a check for you that is drawn on another financial institution, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.

HOLDS ON OTHER FUNDS IN ANOTHER ACCOUNT. If we accept for deposit a check that is drawn on another financial institution, we may make funds from the deposit available for withdrawal immediately but delay your availability to withdraw a corresponding amount of funds that you have on deposit in another account with us. The funds in the other account would then not be available for withdrawal until the time periods that are described elsewhere in this disclosure for the type of check that you deposited.

SPECIAL RULES FOR NEW ACCOUNTS. If you are a new customer, the following special rules may apply during the first 30 days your account is open.

Same-Day Availability. Funds from electronic direct deposits to your account, cash, wire transfers, and checks drawn on The Village Bank will be available on the day we receive the deposit.

Next-Day Availability. The first $6,725.00 of a day’s total deposits of the following will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be payable to you.
– U.S. Treasury checks
– U.S. Postal Service money orders
– Federal Reserve Bank or Federal Home Loan Bank checks
– State or Local Government checks
– Cashier’s, Certified, or Teller’s checks
– Traveler’s checks

The excess over $6,725.00 of a day’s total check deposits will be available on the sixth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our employees, the first $6,725.00 will not be available until the second business day after the day of your deposit. The first $6,725.00 from all other check deposits will be available on the first business day after the day of your deposit. The excess over $6,725.00 will be available on the sixth business day after the day of your deposit.

FOREIGN CHECKS. Checks drawn on financial institutions outside of the U.S. (foreign checks) cannot be processed the same as checks drawn on U.S. financial institutions. Foreign checks are exempt from the policies outlined in this disclosure. Generally, the availability of funds from deposits of foreign checks will be delayed for the time it takes us to collect the funds from the financial institutions upon which they are drawn.

DEPOSITS AT PROPRIETARY AUTOMATED TELLER MACHINES (ATMs). Funds from deposits (cash or checks) made at an ATM that we own or operate will be available on the first business day after the date of your deposit. If you make a deposit at an ATM that is owned and operated by us before 6:00 P.M. on a business day that we are open, we will consider the deposit made that day. However, if you make a deposit at an ATM that is owned and operated by us after 6:00 P.M. or on a day that we are not open, we will consider the deposit made on the next business day we are open.

$275 of a deposit made at an ATM will be available the next business day after the day of your deposit. The remaining funds will be available the second business day after the day of your deposit.

ADDITIONAL DEPOSIT INFORMATION. WHEN FUNDS ARE CONSIDERED DEPOSITED:

Staffed Facilities: Funds received at a staffed teller station are considered deposited when received by the teller.

Mail: Funds mailed to the Bank are considered deposited on the banking day they are received by the Bank.

Night Depository: A night depository is a receptacle for the receipt of deposits typically used by corporate depositors when the branch is closed. Funds deposited at a night depository are considered deposited on the banking day the deposit is removed, and the contents of the deposit are accessible to the Bank for processing.

REMOTELY CREATED CHECKS
A remotely created check means a check that is not created by the paying bank and that does not bear a signature applied or purported to be applied, by the person on whose account the check is drawn. “Remotely created checks” are created when the holder of a checking account authorized a payee to draw a check on that account but does not actually sign the check. A bank that presents a remotely created check and receives settlement warrants to the paying bank that the person on whose account the remotely created check is drawn authorized the issuance of the check in the amount stated on the check and to the payee stated on the check. If the Bank accepts a remotely created check, you indemnify The Village Bank from losses related to unauthorized remotely created checks.

The Village Bank
320 Needham Street, Suite 200
Newton, Massachusetts 02464
(617) 969-4300
www.village-bank.com

Revised 7/2025