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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A deposit into a bank account that has not yet cleared. For example, one may deposit a check for $1,000 from an out-of-state bank. The funds may be posted to the account immediately, but they will not become available to the account holder until the issuing bank honors the check and transfers the funds to the receiving bank. This process can take as long as five business days. See also: Check hold.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved