DEFINITION of 'Book Transfer'

The transfer of funds from one deposit account to another at the same financial institution. Book transfer is a way to eliminate check clearing float because unlike with interbank transfers, there is no wait time for intrabank transfers.





BREAKING DOWN 'Book Transfer'

Check clearing float refers to the time between when a check is deposited and when it is cleared. If someone deposits a check today, there is a time difference between depositing the check and when the check will be paid. This time lapse enables the paying bank to earn some extra interest on those funds.

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RELATED FAQS
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    Learn more about the impact of float on the U.S. monetary system and how technology has changed the amount of float as measured ... Read Answer >>
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    Learn more about how float occurs within the United States and how it is monitored. Find out why float frequently happens ... Read Answer >>
  3. How does transfer pricing help business?

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  4. How do you transfer common stock from one broker to another?

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