What is a Deposit in Transit?
A deposit in transit or DIT is money that you have deposited in your bank account, but that doesn’t show up yet as received or credited by the bank. There are a number of reasons why a deposit in transit may not show up yet on a bank statement. It’s important to bear these different reasons in mind when you claim money the bank may not yet have recorded. Sometimes deposit in transit refers to personal checks that the bank will hold until it receives money from another bank. Some banks have policies regarding holding personal checks, and not crediting you with their amount until funds are verified. Under these circumstances, it’s important to record the money, but not to count it as what you currently possess. This will help you avoid bank overdrafts. Other times banks immediately accept all deposits, especially for businesses. However on weekends when deposits are made, your deposit may not be recorded until the next business-banking day. If this is the case, your access to the money w
