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The amount of money that is briefly tallied twice within the banking system as a result of delays in recording a deposit or withdrawal. These delays are generally caused by the time it takes to process paper checks. As soon as a check is deposited, a bank credits the customer's account. The time it takes to receive and record a check from the payer's bank varies. The amount of the check "exists" in two locations, in the accounts of both the payer's and recipient's banks, until the check clears the account upon which it is drawn.

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