Cleared funds are funds that have actually been cleared through the banking system and are available for use. It is the cleared funds balance, if overdrawn, which is used to calculate overdraft interest.
sums which have been transferred through a payment clearing system, debited to the originator of the transfer, credited to the recipient and are available to earn interest.
Funds received by the exchange that have completed the banks' internal settlement process and have been allocated to a customer's account.
Bank wire transfer and cashier's checks drawn on U.S. banks represent cleared funds and are available for trading immediately upon deposit into your XPRESSTRADE account. Personal checks (or corporate checks for Corporate accounts only) drawn on banks, savings and loans, credit unions, and money market accounts incur a 7 business day delay before such funds become available for trading. All checks drafted on accounts held at financial institutions outside the U.S. require 20 business days to clear.
Money that is immediately transferable, or 'pre-cleared' by the bank on which it has been drawn, to the recipient without waiting for clearing of a cheque
When you pay an amount in to your bank, it is only cleared when it has gone through the system and has been paid by the payer's bank.
Funds that are freely available, sent in to settle a trade.
Transferred funds will not be designated as ‘cleared' until they have passed through the banking system and the beneficiary account to which they have been sent has been credited.
The amount of money in an account that is available for you to use. Cheques deposited into your account may take up to five working days before they become cleared funds and you can use them. During the five days the cheque funds are called uncleared funds.