Business, Legal & Accounting Glossary
In banks and other financial institutions, the number of days required for checks deposited into your checking account to become available. The checks that have been deposited but are not yet available are called “checks held”. Financial institutions must make deposited checks available within a certain number of days according to the Expedited Funds Availability Act of 1987, which is now a Federal Reserve regulation.
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This glossary post was last updated: 20th November, 2021 | 0 Views.