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. Check Hold

    Denotes a period of time equal to the maximum number of days ...
  2. Available Balance

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

    The Federal Reserve practice of "clearing" checks deposited by ...
  4. Float Time

    The amount of time between when an individual writes and submits ...
  5. Crossed Check

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

    A check that has cleared the depositor's account and has been ...
Related Articles
  1. Investing

    What is a Cashier’s Check?

    A cashier’s check is a check written on a financial institution’s funds.
  2. Personal Finance

    The 8 Best Bank Perks

    Many banks are now offering free perks to entice new customers.
  3. Personal Finance

    10 Bank Promotions That Pay You To Open An Account

    Find out which banks are running cash promotions this summer.
  4. Managing Wealth

    Top Premium Checking Accounts of 2015

    Which banks offer the best deals for premium checking accounts – and what do you have to do to qualify for one?
  5. 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.
  6. 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.
  7. 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.
  8. Managing Wealth

    Checking Account Reviews: Chase Premium Platinum

    Which perks and services come with Premier Platinum and is it worth the cost to you?
  9. Personal Finance

    The Ins And Outs Of Bank Fees

    These service charges could nickel and dime you right out of your nest egg.
RELATED FAQS
  1. 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 >>
  2. 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 >>
  3. 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 >>
  4. What US banks offer free checking accounts?

    Quit wasting money on monthly fees associated with your checking account and get a free checking account from reputable national ... Read Answer >>
Trading Center