Book Transfer

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.

RELATED TERMS
  1. Transfer

    A change in ownership of an asset, or a movement of funds and/or ...
  2. Automatic Transfer Service - ATS

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  3. Book Balance

    Funds on deposit prior to any adjustment for check clearing, ...
  4. Current Transfers

    A current account transaction in which a resident entity in one ...
  5. Deposit

    1. A transaction involving a transfer of funds to another party ...
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RELATED FAQS
  1. Are there any regulations on transfer pricing?

    Learn about transfer pricing, its role in intra-business calculations, and how the U.S. government regulates transfer pricing ... Read Answer >>
  2. In what ways has technology helped to reduce float?

    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 >>
  3. How does transfer pricing help business?

    Explore several ways that transfer pricing helps businesses. Transfer pricing can often help streamline accounting and business ... Read Answer >>
  4. What months of the year typically have the highest float?

    Learn more about how float occurs within the United States and how it is monitored. Find out why float frequently happens ... Read Answer >>
  5. What documents I need to transfer an IRA/SEP/SIMPLE to a Traditional IRA?

    Most firms require that you complete their account transfer request form, which they use to request the transfer of assets ... Read Answer >>
  6. What is the difference between a demand deposit and a term deposit?

    Understand the meaning of demand deposits and term deposits, and learn about the major differences between these two types ... Read Answer >>
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