Deposit Cut Off Times

Deposited funds (cash, check, electronic credits, etc.) are reflected in the accountholder's available* balance based on the type of deposit and how the deposit is made. The following chart may help you understand the daily cut-off times for different deposit types.

Where Deposit is Made

Type of Deposit

Cut-off time for deposits
(in order to post for same business-day credit)

Deposit is handed to a teller in a TowneBank office Cash/Check Close of business at each branch office (Monday-Friday).
Deposit made in the Night Depository Cash/Check 7:00 a.m. (Monday-Friday, excluding holidays)
Direct Deposits Electronic Deposits Posted throughout the business day (as received) until close of business.
Online Banking transfers to TowneBank account through Towne-Personal, Towne-Biz & Towne-Biz Plus Electronic Credits 8:00 p.m. (Monday-Friday, excluding holidays)
Mobile Deposits Checks 6:00 p.m. (Monday-Friday, excluding holidays)
TowneBank ATMs Cash & Checks 7:00 p.m. (Monday-Friday, excluding holidays)
Deposit Wizard (Business Members Only) Checks 6:00 p.m. (Monday-Friday, excluding holidays)
 Note: Funds initiated by a payment service to your TowneBank account are subject to the payment provider's cut off times.
Same business-day credit is provided for members depositing prior to the cut-off times listed above. Transactions will actually post to member accounts during nightly processing+.
+ Nightly processing occurs Monday through Friday (excluding holidays) once all the branches have closed and clearinghouse items have been received from the Federal Reserve (typically after 8 pm). 
Do not assume that you can make a last-minute deposit Monday through Friday to cover incoming transactions. Deposits are not always available for immediate withdrawal – see our Funds Availability Policy for more information.  
*Your Available Balance is the most current record TowneBank has regarding the funds that are available for withdrawal from your account. To determine whether you have sufficient funds to cover a transaction during our nightly processing, we will take into consideration all transactions that have posted to your account (credits and debits), any holds that may be in place on deposits you have made, and pending transactions that the bank has authorized but have not yet posted to your account – including pending debit card purchases and ATM withdrawals. There is a possibility that your available balance may not reflect all of your transactions. You may overdraw your account even though the available balance appears to show sufficient funds in your account. See Understanding Account Balances & Overdraft Fees for additional information.