Availability Schedule

AAA

DEFINITION of 'Availability Schedule'

The number of days it takes for a third-party check deposited into a customer's checking account to become available to the customer. While the funds are unavailable until cleared, they are referred to as "checks held".

INVESTOPEDIA EXPLAINS 'Availability Schedule'

The maximum number of days that funds can be held by banks is dictated by the Expedited Funds Availability Act, which was enacted by Congress in 1987 and subsequently became a Federal Reserve regulation. Many banks will make checks available before the maximum number of days is up.

RELATED TERMS
  1. Available Balance

    Balances in checking or on-demand accounts where there is a delay ...
  2. Bad Check

    A check drawn on a nonexistent account or on an account with ...
  3. Available Funds

    Funds that are available to an account holder for withdrawal ...
  4. Availability

    Funds that have been deposited by third-party check into a customer's ...
  5. Rubber Check

    Another name for a "bounced check." A rubber check is a slang ...
  6. Bounced Check

    A slang word for a check that cannot be processed because the ...
Related Articles
  1. Inside National Payment Systems
    Economics

    Inside National Payment Systems

  2. Your First Checking Account
    Insurance

    Your First Checking Account

  3. When Good People Write Bad Checks
    Budgeting

    When Good People Write Bad Checks

  4. How does online banking assist with ...
    Budgeting

    How does online banking assist with ...

comments powered by Disqus
Hot Definitions
  1. 80-10-10 Mortgage

    A mortgage transaction in which a first and second mortgage are simultaneously originated. The first position lien has an ...
  2. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  3. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  4. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  5. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center