Business bank deposits

Do banks initially give businesses that manually deposits large volumes of checks credit for the deposit amount(s) claimed on the deposit ticket(s) or do they count (manually or through a check scanner) the items first and then give credit based upon the count.

In other words, let's say a bag full of many checks is deposited with a deposit total of $1 million claimed on the bag and deposit slips but the bag only contains $999K.  Do the banks first credit the account for $1 million and then adjust it for the $1 thousand shortage?  Or do they wait until the $999K is counted and then give credit for that amount with no adjustment recorded and no reference made to the amount claimed by the customer?

Thank you.
dbfromnewjerseyAsked:
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Michael DyerConnect With a Mentor Senior Systems Support AnalystCommented:
Different banks have different policies.  Some give no credit until the deposit has been processed, typically one business day later.  My bank gives me a partial credit for the deposit initially if I make a deposit at the ATM and then deposits the full amount after the deposit has been processed.
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pony10usConnect With a Mentor Commented:
@Michael - very well put.

I work for a bank and what your bank does is pretty much standard.  This information should be in the disclosure that the bank provides the customer.
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pony10usCommented:
Additional information:  The disclosure I was referring to is the Funds Availability disclosure.  It is advisable to discuss with the bank as there are some variances however most banks (in the US) have to adhere to the Federal Guidelines at a minimum.  

As with anything there are a lot of things that impact this.  Such as the total amount of deposit per day, checks drawn against the same bank, etc.

Again, one would really need to ready the funds availability disclosure provided by, and discuss with one's own bank.
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dbfromnewjerseyAuthor Commented:
Thanks.
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