Whenever a check is cashed/deposited with Third Federal, a hold is placed on these funds. If the check is issued from a local bank, then the hold is placed for two business days. If the check is issued from a non-local bank, then the hold is placed for five business days.
The second reason for a difference in account balance and available balance would be due to a debit card transaction hold. Whenever a debit card transaction is processed without the use of your PIN number, a hold is placed on your account. This hold is placed due to the fact that Third Federal is authorizing the transaction and therefore we are now reserving those funds to process the transaction. These types of holds normally appear on your account for two – three business days.
The account balance will reflect the entire amount of all deposits without holds. The available balance will reflect your account balance minus any debit card or check holds.