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.

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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. How does float affect the nation's money supply?

    Learn how float affects the appearance of the nation's money supply, and receive a brief lesson on how the U.S. government ... Read Answer >>
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    Find out about float, which may become a thing of the past due to the steady decline of check writing and new services in ... Read Answer >>
  4. What months of the year typically have the highest float?

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