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. Availability

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

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

    A slang word for a check that cannot be processed because the ...
  4. Float Time

    The amount of time between when an individual writes and submits ...
  5. Available Balance

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

    A check drawn on a nonexistent account or on an account with ...
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. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center