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. Available Balance

    Balances in checking or on-demand accounts where there is a delay ...
  5. Immediate Credit

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

    A written, dated and signed instrument that contains an unconditional ...
Related Articles
  1. Personal Finance

    Explaining Checking Accounts

    A checking account is an account at a financial institution, usually a bank, that allows for deposits and withdrawals.
  2. Personal Finance

    Top 5 Reasons Banks Won't Cash Your Check

    Learn the top reasons that a bank won't cash your check, and find out what steps you can take to prevent those scenarios from happening.
  3. Personal Finance

    The Lucrative World Of Third-Party Marketing

    Hedge funds don't sell themselves. Marketing experts reel in the big fish.
  4. 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.
  5. Investing

    A Guide to Bank Accounts

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

    Your First Checking Account

    This owner's manual will show you what to expect from your bank.
  7. 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    A demand deposit is any type of account where the money in the account may be withdrawn at any time without prior notice to the financial institution.
  8. Small Business

    Best Checking Accounts For Small Businesses

    What you need to know to choose the best checking account for your small business – and where to look.
  9. Tech

    5 Useless Financial Products That Will Disappear Soon

    Bank deposit slip: what's that? Everyday tools of our financial life that went from indispensable to obsolete.
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 advantages of hiring a third-party marketing company?

    Explore the advantages of using a third-party marketing service to drive a marketing campaign. Like with most marketing strategies, ... Read Answer >>
  5. What Are the Pros and Cons of Online Checking Accounts?

    Learn about the ways an online checking account can save you time and money, but understand the drawbacks before signing ... Read Answer >>
Trading Center