Going to Lose the Argument

This week in commercial paper I learned that the UCC requires a bank to make cash deposits available for withdrawal the next banking day.  That seemed odd to me.  Unlike for a check, which could be written against insufficient funds or have some other problem, the bank knows it has the money when cash is deposited.  The customer literally hands it over.  I imagined some strange conversations:

Customer: Oh, I forgot, I need $50 back from the $100 I just deposited.

Bank: I’m sorry, that money isn’t available.

Customer: What do you mean?  It’s sitting right there on the counter.

Bank: It’s not available until tomorrow.

Customer: That doesn’t make sense.  It should be available right now.  I can see it.

Bank: It’s not available yet.

Customer pointing: It’s right there.

Bank: That may be, sir, but it’s not available.

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