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Term of the Day
BusinessDictionary.com
check hold
Definition
Number of
days
a bank can legally hold
funds
from a deposited check, before crediting them to the depositor's
account
. It is normally equal to the
period
a check takes to pass through the
bank's
clearing cycle
.
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Nearby Terms
check clearing
Check Clearing For The 21st Century Act (Check 21)
check conversion
check digit
check endorsement
check guarantee
check hold
check in time
check kiting
check out
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banking delay
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