Uncleared effects

Uncleared effects,

Definition of Uncleared effects:

  1. Checks and drafts that have been deposited by a banks customer but have not completed the banks clearing cycle: either they have not been paid by the drawee bank or the proceeds have not been credited to the customers account. Also called uncollected funds or uncollected items.

Meaning of Uncleared effects & Uncleared effects Definition