Disclosures & Policies

Funds Availability Policy

Your Ability to Withdraw Funds

Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. Electronic direct deposits will be available on the day we receive the deposit. Once the funds are available, you can withdraw them in cash and we will use the funds to pay checks that you have written.

For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit before closing 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 closing or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

Longer Delays May Apply

In some cases we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit.

If we are not going to make all of the funds from your deposit available on the first business day, we will notify you at the time that you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the premises, we will mail you the notice the day after we receive your deposit.

If you need the funds from a deposit right away, you should ask us when the funds will be available.

In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:

• We believe a check you deposited will not be paid.
• You deposit checks totaling more than $5000.00 on any one day.
• You deposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six statement cycles.
• There is an emergency such as a 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 seventh business day after the day of your deposit.

Special Rules for New Accounts

If you are a new customer, the following special rules will apply during the first 30 days your account is open.

Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5000.00 of a day's total deposits of cashier's, certified, teller's, traveler's, and federal, state and local government checks 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 (and you may have to use a special deposit slip). The excess over $5000.00 will be available on the ninth 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 $5000.00 will not be available until the second business day after the day of your deposit.

Funds from all other check deposits will be available on the seventh business day after the day of your deposit.

Special Provisions

All funds from any deposits (cash or checks) made at automated teller machines (ATMs) will not be available until the next business day after the day of your deposit unless a longer delay set forth elsewhere in this document applies.

If we cash a check for you that is drawn on another bank, 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.

If we accept for deposit a check that is drawn on another bank, we may make funds from the deposit available for withdrawal immediately but delay your ability 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.

Debit Card/ATM Authorized Transaction Holds

When you use your Debit Card or ATM Card at certain merchant locations, the merchant may obtain an authorization for the amount of the purchase or an authorization for an amount that is more than the final transaction. At the time the merchant obtains the authorization for the transaction, a hold is placed on your account for the amount of the authorization to ensure that the funds are available when the transaction is presented for payment. If the transaction required your Personal Identification Number (PIN), the funds are held through the business day of authorization. If the transaction was performed without entering your PIN (usually referred to as a signature-based transaction), the funds may be held for up to three business days. If the authorized transaction is presented for payment before three business days have elapsed, an attempt is made to match the payment to the original authorization. If a match occurs, the hold is typically removed. The funds on hold for an authorized transaction are not available for other uses during the hold period. If other items are presented for payment against the funds on hold, your account may be subject to a per-item penalty for drawing against unavailable funds.

 

Account Disclosures

CHECKING ACCOUNTS

• Minimum balance to open the account - $50.00
• No annual fee MasterCard debit card
• Free Online Banking, Mobile Banking, Bill Pay
• An inactivity fee of $5.00 will be charged each statement cycle to accounts with no activity for 60 days and a balance of less than $100.00.

 

IDEAL REWARDS CHECKING

• No minimum balance requirement
• Premium Interest Rate(see Rate Sheet) paid on balance up to $15,000.00 when qualifications are met:
• Fifteen (15) debit card purchase transactions excluding ATM
• One (1) direct deposit or automatic debit
• Online Banking must be accessed at least one time per statement cycle
• Enroll in free e-Statements
• ALL ATM fees posted during the statement cycle will be reimbursed when qualifications are met
• Optional Paper Statement fee of $2.95 per statement
• Limited to 1 account per customer

ESSENTIAL CHECKING

• No minimum balance requirement
• Account does not pay interest
• No monthly service fee
• Optional paper statement fee of $2.95 per statement

ESSENTIAL PLUS CHECKING

• $2,500 daily minimum balance in this account or in related account relationships (including loan accounts)
• Interest paid on entire balance
• Monthly service fee of $5.95 if minimum balance and account activity requirements are not met within the statement cycle
• Qualification per statement cycle: One (1) Direct Deposit
• Optional paper statement fee of $2.95 per statement

PREMIER CHECKING

• $5,000 average monthly balance in this account
• Tiered interest rate
• Monthly service fee of $5.95 if minimum average balance requirement is not met
• Optional Paper Statement fee of $2.95 per statement

PREMIER PLUS 55 CHECKING

• For customers 55 years of age or older
• Tiered interest rate
• Premier Checking benefits PLUS: Direct Deposit of $500.00 per statement cycle will waive the $5,000.00 minimum balance requirement and the choice of no fee paper statement
• Monthly fee of $5.95 applies if Direct Deposit or Minimum Average Balance requirement is not met

Former and Active Military Checking Bonus Qualifications:

• $100 bonus will be credited to Westbury Bank checking account the next statement cycle after the account has been open 90 days with a minimum $100 recurring direct deposit per statement cycle.
• Westbury Bank reserves the right to deny the bonus if the account becomes overdrawn or closed within the first 90 days
• Limit one (1) bonus per customer
• Customer must provide a government issued military identification card as proof of active duty, retired, National Guard or Reserve member, or veteran of the Military
• All other account terms, conditions, and fees for the account apply

 

SAVINGS ACCOUNTS

DAILY SAVINGS ACCOUNT

• Minimum balance to open the account - $50.00
• Interest is paid on entire balance
• Minimum balance to avoid imposition of fees - A service charge of $2.00 will be imposed every month if the balance in the account falls below $200.00 any day of the month. This fee will be waived for customers 18 years of age and younger.
• Transaction limitations: Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six (6) per calendar month with no transfers by check, draft, or similar order to third parties. $10.00 fee per item if limit exceeded.

SUPER SAVINGS ACCOUNT

• Minimum Balance to open the account - $5,000.00
• Interest tiered to balances below $5,000.00 and above $5,000.00. Higher rate is paid on entire balance when balance over $5,000.00.
• Minimum balance to avoid imposition of fees - A service charge of $2.00 will be imposed every statement cycle if the balance in the account falls below $200.00 any day of the month. This fee will be waived for customers 18 years of age and younger.
• Transaction limitations - Transfers from a Super Savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per calendar month with no transfers by check, draft, or similar order to third parties. $10.00 fee per item if limit exceeded.

HEALTH SAVINGS ACCOUNT

• Minimum Balance to open the account - $0.00
• Tiered interest rate
• No monthly service charge
• No minimum balance
• There are no transaction limitations

PREMIER MONEY MARKET ACCOUNT

• Minimum balance to open the account - $5,000.00
• Tiered interest rate
• Optional Paper Statement cost of $2.95 per statement
• Minimum balance to avoid imposition of fees - A monthly service fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the month.
• Transaction limitations - Transfers from a Premier Money Market account to another account or to third parties by preauthorized, automatic, telephone or computer transfer or by check or similar order to third parties are limited to six per calendar month. A fee of $10.00 will be charged for each item exceeding the limit.
• An inactivity fee of $5.00 will be charged each statement cycle to accounts with no activity for 60 days and a balance of less than $100.00

 

ADA Accessibility

The Americans with Disabilities Act (ADA) of 1990 is a civil rights law that mandates the elimination of discrimination against persons with a qualifying disability. Westbury Bank strives to provide reasonable accommodations for qualified individuals to enable them to access bank information and account information.
Westbury Bank attempts to make its information accessible to all individuals. If you use special adaptive equipment and encounter problems when using this website, please report them using the contact information provided on the website. We will let you know if the information is available in an alternate format.
Additional accessibility resources and assistance are available at ADA.gov.

DISCLAIMER
No endorsement is intended or made of any hypertext link, product, service, or information either by its inclusion or exclusion from this page or site. While all attempts are made to ensure the correctness and suitability of information under our control and to correct any errors brought to our attention, no representation or guarantee can be made as to the correctness or suitability of that information or any other linked information presented, referenced, or implied. All critical information should be independently verified. Any questions should be directed to the contact information provided for this or any other specific sites.

 

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