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For the safety of our employees, we are limiting the hours our call center agents are available. You can speak with an agent Monday - Friday from 9 a.m. to 6 p.m. ET.

Funds Availability Schedule

High-Yield Savings, Money Market, and Certificates of Deposit Products

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, or withdrawals or debits you have authorized or made from your Account. This funds availability schedule is provided in Section 5 of the Deposit Account Terms and Conditions. If any of the below is inconsistent with the Deposit Account Terms and Conditions, the Deposit Account Terms and Conditions governs.

  1. Funds you deposit in an Account will become available to you in accordance with the timeframes set forth in this Section. Please view our Funds Availability schedule for High-Yield Savings, Money Market, and Certificate of Deposit Accounts below. Between the time that you deposit the funds and the funds become available to you, you may not withdraw the funds in cash and we will not use the funds to pay withdrawals or debits that you have authorized or made from your Account. All funds electronically deposited after 3:00 PM ET via remote deposit capture will be considered received on the next Business Day and will be subject to standard hold times from such date.
    1. Deposit Holds

      For all deposits, funds will be held for 5 business days from the effective date of the deposit.

      For all ACH Credits and funds transferred from a High-Yield Savings Account, Money Market Deposit Account, or Certificate of Deposit Account the funds will be available immediately. For all ACH Credits and funds transferred from a SmartyPig Account, the funds are subject to the hold times set forth herein.

      To the extent permitted by law, Sallie Mae Bank reserves the right to extend these timeframes for certain reasons, including if we suspect fraud. In addition, funds in an Account being closed may be subject to a brief temporary hold in order to allow outstanding transactions to clear and for any necessary processing procedures to be performed.

      All deposits are subject to verification. Your Account will be credited for the amount shown on your Account statement. Adjustments for errors in addition or subtraction may be posted to your Account. Your Account also may be adjusted for items you have deposited that we determine require special handling (e.g., verification of prior endorsements).