What Do Uncollected Funds Mean?
Uncollected funds refer to money deposited into a bank account, usually via check, and aren’t available for withdrawal yet. It’s because banks place holds on such deposits to ensure the funds are received from the payer’s account before making them accessible. The length of the hold depends on factors like the bank’s policies, the check amount, and where it was issued.
Think of it like a concert ticket pre-sale. You’ve paid, but the ticket won’t be usable until the official release date.
