deposit in transit

Definition

A deposit that has been made but has not yet been posted by the bank and therefore is not yet reflected in the account balance.

Use deposit in transit in a sentence

It was a deposit in transit and that meant that it was not yet reflected in the account balance and things were not going smoothly.

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My bank did not consider the deposit in transit when it allowed a debit to post to my account only hours before the funds would have been available.

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While today was payday, the direct deposit still had not officially gone through. The funds showed in his account, but because they were deposit in transit they were not available yet.

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