DEFINITION of 'Availability'

Funds that have been deposited by third-party check into a customer's bank account. These funds are typically not usable by the customer until the check clears, or they become "good funds."

BREAKING DOWN 'Availability'

Third-party checks are available according to a schedule that relies on the location of the bank on which the check is drawn. The maximum number of days that a check can be held is set by the Expedited Funds Availability Act, assuming the check is good.

RELATED TERMS
  1. Availability Schedule

    The number of days it takes for a third-party check deposited ...
  2. Check Hold

    Denotes a period of time equal to the maximum number of days ...
  3. Negative Float

    The period of time between when a bank customer writes a check ...
  4. Immediate Credit

    The Federal Reserve practice of "clearing" checks deposited by ...
  5. Crossed Check

    Any check that is crossed with two parallel lines, either across ...
  6. Rubber Check

    Another name for a "bounced check." A rubber check is a slang ...
Related Articles
  1. Personal Finance

    What is a Bounced Check?

    Bounced check is a slang term to describe a check that cannot be processed because its writer has insufficient funds.
  2. Personal Finance

    The Lucrative World Of Third-Party Marketing

    Hedge funds don't sell themselves. Marketing experts reel in the big fish.
  3. Investing

    What is a Cashier’s Check?

    A cashier’s check is a check written on a financial institution’s funds.
  4. Investing

    A Guide to Bank Accounts

    Find out which type of bank account suits your specific needs.
  5. Personal Finance

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  6. Investing

    What is a Demand Deposit?

    A demand deposit is any type of account where the money in the account may be withdrawn at any time without prior notice to the financial institution.
  7. Managing Wealth

    Checking Account Reviews: Chase Premium Platinum

    Which perks and services come with Premier Platinum and is it worth the cost to you?
  8. Investing

    Mutual Funds: Brand Names Vs. House Brands

    Find out whether an in-house fund will serve you better than a major company's fund offerings.
  9. Personal Finance

    10 Checking Accounts the Ultra Rich Use

    These accounts – created specifically for the wealthy – come with special extras such as personal bankers, waived fees and the option of placing trades.
RELATED FAQS
  1. How long does it take a check to clear?

    It usually takes two days for a check to clear, but in some cases it may take longer. Discover how banks treat large deposits ... Read Answer >>
  2. How do you calculate payback period using Excel?

    Understand the various fees that can be assessed on a personal or business checking account, and learn methods to avoid being ... Read Answer >>
  3. When do checks expire?

    There is a legal grace period for cashing checks, but depositors and issuers may risk overdraft fees if a late check is presented ... Read Answer >>
  4. What are the differences between preference shares and bonds?

    Learn what information banks keep on file for their customers, and understand how this information can be used to deny an ... Read Answer >>
  5. What is usability testing, and why is it so important in the Internet sector

    Learn why a company would want to conduct a usability test and what types of data and information become available with this ... Read Answer >>
Trading Center