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".

BREAKING DOWN '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. Check Hold

    Denotes a period of time equal to the maximum number of days ...
  2. Immediate Credit

    The Federal Reserve practice of "clearing" checks deposited by ...
  3. Available Balance

    Balances in checking or on-demand accounts where there is a delay ...
  4. Float Time

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

    Funds on deposit prior to any adjustment for check clearing, ...
  6. Direct Deposit

    Electronic funds that are deposited directly into your bank account ...
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