2007-10-08 04:31:23 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
They mean that you cannot use those funds for five business days. They need this long to get the check cleared. You should always keep extra in your checking account and this is a good reason why.
2007-10-08 09:33:32 · answer #1 · answered by kim h 7 · 0⤊ 0⤋
That means you cannot write check (if you deposit to a checking account) and any other transactions like withdrawals, transfer, and etc. The bank is wait to make sure the fund is available. So wait after 5 BUSINESS days before you do anything with that fund.
2007-10-08 12:57:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It usually means they will not let u use the funds until the check clears from the other bank.. hence the 5 days
2007-10-08 11:39:36 · answer #3 · answered by dee dee 2 · 0⤊ 0⤋
it means that the bank has to verify the bank in which you have the check from so therefore they will hold the check amount so you cannot withdraw the funds until the check is verified. your bank has to make sure that the check you deposit is vald and that the funds are avaliable
2007-10-08 11:40:17 · answer #4 · answered by C I 2 · 0⤊ 0⤋
You cannot use the deposited funds for 5 business days.
2007-10-08 11:34:51 · answer #5 · answered by Snow B 1 · 3⤊ 0⤋
I understand that it means that you can't use the money until the bank is sure that it will clear with the bank the check is written on.
2007-10-12 11:10:22 · answer #6 · answered by Wisdom Seeker 3 · 0⤊ 0⤋