General Terms and Conditions for Checking Accounts

When Deposits are Available for Withdrawal

When you deposit a check at OceanFirst Bank, it takes time for the check to clear and for us to receive the funds. Because of this, our policy is to make funds from your deposits available according to the schedule below. 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.

Business Day

The length of the delay is counted in business days from the day of your deposit. Every day except Saturday, Sunday, and a Federal Reserve Bank legal holiday is a business day. The end of the business day is determined by the hours of operation for the respective branches as posted in our banking offices. Deposits made after the close of any business day or on Saturday, Sunday or a Federal Reserve Bank legal holiday will be considered made on the next business day.

Immediate Availability

The following deposits made into your account are available the same business day that the deposit is made when payable to the same name as the title on the account:

• American Express Traveler's checks
• Cash
• Electronic Direct Deposits (i.e.: social security benefits or payroll payments)
• Wire Transfers

Next-Day Availability

Funds from the following deposits are available the first business day after the day of your deposit when payable to the same name as the title on the account.

• Cashier's checks and teller's checks
• Certified checks
• Checks drawn on OceanFirst Bank
• Federal Home Loan Bank checks
• Federal Reserve Bank checks
• Postal money orders
• State and local government checks
• U.S. Treasury checks

Other Check Deposits

The first $100 from a deposit will be available on the first business day after the deposit. All of the remaining funds will be available for cash withdrawal on the second business day after the day of the deposit.

Foreign Checks

Checks drawn on banks outside the United States or Canada are generally sent for collections instead of being deposited directly into your account. Your account will be credited after we receive payment for the check from the bank on which it is drawn. Refer to Fee Schedule for applicable charge.

Longer Delays May Apply

Funds you deposit by check may be delayed for a longer period under the following circumstances:

• If we believe the check being deposited is uncollectible.
• If you redeposit a check that has been returned unpaid.
• If you have overdrawn your account repeatedly the last six months.
• If there is an emergency, such as failure of communications or computer equipment.
• If you deposit checks totaling more than $5,000 in one day, the amount over $5,000 may be delayed.

We will notify you if we delay your ability to withdraw funds for any of these reasons and we will tell you when the funds will be available to you. They will generally be available no later than the seventh business day after the day of your deposit.

Special Rules for New Customers

If your account has been open for less than 30 days and you have had no other transaction accounts with us that have been open for at least 30 days, the following will apply:

• U.S. Treasury Checks, Checks drawn on New Jersey State and Local Governments, Federal Reserve Bank Checks, Federal Home Loan Bank Checks, U.S. Postal Service Money Orders, Certified Checks, Cashier's Checks, Teller's Checks, and Traveler's Checks up to $5,000 deposited in one day will be available on the first business day after the day of deposit.
• Any of the above items in excess of $5,000 deposited into your account in one day will be available on the ninth business day after the day of deposit.
• Checks drawn on OceanFirst Bank will be available on the second business day after the day of deposit.
• All other check deposits will be available no later than the sixth business day after the day of deposit.