I thought that one could deposit an endorsed third party check so long as one had sufficient funds in one's own bank account to cover it until the check is cleared.
Example -- check payable to X is endorsed (signed on the back) and I then just want to deposit check in my bank account. It doesn't matter to me how long the funds are held.
I didn't want to wait on the teller line to double check as there was a long line and it wasn't critical for me to deposit the check.
Does anyone know banking rules.