Definition and Citations:
Drafts and cheques deposited by a customer but have not been cleared or paid by the writer of the cheque, or money is not in depositor’s account yet. Also known as uncollected funds or items.
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Drafts and cheques deposited by a customer but have not been cleared or paid by the writer of the cheque, or money is not in depositor’s account yet. Also known as uncollected funds or items.