It's to do with the cheque clearing cycle, which normally takes 5 days.
Satanta, the reason you had immediate access is because your bank has allowed you to do so ie. they have enabled you to withdraw on uncleared effects.
This is normally done when your a/c is opened for a while & your a/c has been kept in good order. In other words they trust that you will make good if the cheque is returned unpaid for any reason.
bond-007. This does not necessarily mean that your a/c is bad. It may just be an oversight. If you explain the situation they may remove this indicator. Please note I did say MAY & not will. Your bank is not obliged to do so.