Expedited Funds Availability Act

(redirected from Expedited Funds Availability Act of 1987)

Expedited Funds Availability Act

Legislation in the United States, passed in 1987, that requires banks to make checks and other deposits available within a certain number of days. Depending on circumstances such as the size of the deposit and how long the account has been open, the bank must make the deposit available on the first, second, seventh or ninth day. See also: Check hold.