SALLIE MAE BANK
FUNDS AVAILABILITY SCHEDULE

REVISED 05/06/11

Non-Checking Accounts

                           Hold time*

New Account

Existing Account

10 Business Days

5 Business Days

10 Business Days

10 Business Days

 

*ACH Credits & internal electronic transfers are available immediately

 

 

Checking Accounts Only

Standard Holds

New Account Holds

Other Holds

Available immediately

Available immediately

Available immediately

Available next business day

First $5,000 available next business day

Remaining amount (if any) available 9th business day

Available next business day

$5,000 or less: available 6th business day

Greater than $5,000: available 11th business day

$5,000 or less: available 6th business day

Greater than $5,000: available 11th business day

$5,000 or less: available 6th business day

Greater than $5,000: available 11th business day

The lesser of the deposit amount or $200 of your total deposit will be available the next business day

The next $4,800 (if any) of your total deposit will be available 2nd business day

The remainder of the deposit (if any) will be available 7th business day

Available 7th business day

The lesser of the deposit amount or $200 of your total deposit will be available the next business day

The next $4,800 (if any) of your total deposit will be available 2nd business day

The remainder of the deposit (if any) will be available 7th business day

*Sallie Mae Bank does not accept Cash, Money Orders, or 3rd Party Checks for deposit. 3rd Party checks are checks not made initially payable to our account owner.

 
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