All SELCO branches will be closed Monday, November 11 in observance of Veterans Day. Account access will still be available through digital banking. 

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Elevate Holds on Deposits and Limits on Transactions

Elevate is designed to help you establish strong cashflow management skills, and there are limits in place to assist. During the first 30 days after your account is opened, you’ll be subject to some transaction limits and holds on deposited funds. After the first 30 days, hold times and transaction limits become less restrictive– and once you graduate from Elect to a regular account, you’ll have significantly more freedom.  

When are deposited funds available?

 

 

First 30 days

After 30 days

Less than $225

$225 or more

Less than $225

$225 or more

Cash (ATM or in branch), direct deposit, or ACH transfer

Immediately

Immediately

Immediately

Immediately

Check via ATM, in branch, or mobile banking

Immediately

After 9 days

Immediately

After 2 days

 

What are the daily limits on payments or withdrawals?

 

First 30 days

After 30 days

ATM withdrawals

$250

$500

Debit card charges

$250 using your PIN

$15,000 with a full signature

$250 using your PIN

$15,000 with a full signature

Bill Pay

$30,000, except electronic payments to individuals limited to $1,000 per item/$2,000 daily

$30,000, except electronic payments to individuals limited to $1,000 per item/$2,000 daily

ACH payments

Not available

$500 initiated by you

$1,000 initiated by a financial institution