What is 'Uncollected Funds'

The amount of a bank deposit that comes from checks that have yet to be cleared by the bank from which the checks are drawn. Essentially, uncollected funds are sums of money that the bank needs to account for prior to releasing the funds to the depositor.

Explaining 'Uncollected Funds'

Uncollected funds are deposits that need to be reconciled; that is, the bank from which a check is drawn must acknowledge that the checking account has the funds to cover the check. Once the check "clears", the depositor can have access to the deposited funds. Until then, the funds are referred to as uncollected funds.

Further Reading

FISCAL RISK OF VAT UNCOLLECTED IN EUROPEAN UNION.
search.ebscohost.com [PDF]
… Community-Based Financial Institutions Community Development Loan Funds CDLF Characteristics CDLF … Case Study: Raising New Capital for the Manufacturer's Fund Loan Products and Portfolio Capitalization and Financial Position New Funding Options Goals …

Is management performance a factor in municipal bond credit ratings? The case of Texas school districts
onlinelibrary.wiley.com [PDF]
… Community-Based Financial Institutions Community Development Loan Funds CDLF Characteristics CDLF … Case Study: Raising New Capital for the Manufacturer's Fund Loan Products and Portfolio Capitalization and Financial Position New Funding Options Goals …