Meaning of “uncleared effects” in the English Dictionary

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"uncleared effects" in Business English

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uncleared effectsnoun [ plural ]


cheques, etc. that a customer has put into their bank account but for which their bank has not yet received payment from the banks of the people who wrote them:

The bank expressly reserved the right to postpone payment of cheques drawn against uncleared effects.

(Definition of “uncleared effects” from the Cambridge Business English Dictionary © Cambridge University Press)