Check Hold

Denotes a period of time equal to the maximum number of days that a bank can legally hold the money from a check that was deposited. After this time it must credit the funds to the account of the party making the deposit. The check holding period is normally the same number of days as it takes for the check to go through the bank's clearing cycle.

The Expedited Funds Availability Act of 1987 mandates that local checks can be held for no more than two business days. Nonlocal checks can be held for up to five business days after September 1, 1990. Furthermore, the first $100 of any check must be made available for the customer's use the following business day.


Investment dictionary. . 2012.

Look at other dictionaries:

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  • hold — hold1 holdable, adj. /hohld/, v., held; held or (Archaic) holden; holding; n. v.t. 1. to have or keep in the hand; keep fast; grasp: She held the purse in her right hand. He held the child s hand in his. 2. to set aside; reserve or retain: to… …   Universalium

  • hold — Synonyms and related words: abandon, abduction, abide, abort, absorb, absorb the attention, abstain, accent, accent mark, accommodate, account, account as, accumulate, acropolis, adhere, adhere to, adjudge, adjudicate, admit, advance, advantage,… …   Moby Thesaurus

  • hold up — Synonyms and related words: adjourn, advertise, afford support, air, arrest, back, back up, backpedal, backwater, be consistent, be proof against, be the case, be true, be truthful, be unflappable, bear, bear out, bear up, bear up against, blazon …   Moby Thesaurus

  • hold something in check — keep/hold/someone/​something in check phrase to control someone or something that might cause damage or harm attempts to hold global warming in check Thesaurus: to limit or control something or someonesynonym Main entry: check * * …   Useful english dictionary

  • hold back — Synonyms and related words: abstain, abstain from, arrest, avoid, avoid excess, backpedal, backwater, begrudge, bit, block, bottle up, brake, bridle, check, clip the wings, close the hand, confine, conserve, constrain, contain, control, cool,… …   Moby Thesaurus

  • hold fast — Synonyms and related words: adhere to, arrest, be unflappable, bear up, bite, bridle, check, clasp, cleave to, clench, clinch, cling, cling like ivy, clip, clutch, come up fighting, constrain, contain, control, cool, cool off, curb, curtail,… …   Moby Thesaurus

  • check — [n1] inspection, examination analysis, audit, checkup, control, inquiry, investigation, poll, rein, research, review, scrutiny, test; concept 103 check [n2] restraint, hindrance blow, constraint, control, curb, damper, disappointment, frustration …   New thesaurus

  • check — n 1: something that limits or restrains see also checks and balances 2: a written order signed by its maker directing a bank to pay a specified sum to a named person or to that person s order on demand see also negotiable instrument compa …   Law dictionary

  • Check kiting — is the illegal act of taking advantage of the float to make use of non existent funds in a checking or other bank account; it is a form of check fraud. It is commonly defined as intentionally writing a check for a value greater than the account… …   Wikipedia

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