Information > Financial Terms > This page

Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority.)

In bank clearings and collections, checks and other items that because of errors or irregularities, e.g., missing bank stamp, postdating, etc., cannot be collected on the day of receipt and are held over as cash until the following day, or until the irregularity can be adjusted.

Back to Information