Book Transfer

AAA

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.





INVESTOPEDIA EXPLAINS '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. Electronic Check

    A form of payment made via the internet that is designed to perform ...
  2. Online Banking

    The performance of banking activities via the Internet. Online ...
  3. Email Money Transfer - EMT

    A retail banking service that allows users to transfer funds ...
  4. Bank Giro Transfer

    A method of transferring money by instructing a bank to directly ...
  5. Bank

    A financial institution licensed as a receiver of deposits. There ...
  6. Debit Card

    An electronic card issued by a bank which allows bank clients ...
Related Articles
  1. Insurance

    What Is The World Bank?

    You've heard of the World Bank, now find out how it functions and why some groups oppose it.
  2. Personal Finance

    What Are Central Banks?

    They print money, they control inflation, and much, much more. All you need to know about central banks is here.
  3. Personal Finance

    What Is The Bank For International Settlements?

    Get the scoop on the structure and functions of the oldest global financial institution.
  4. Personal Finance

    4 Tips To Cut Your Monthly Bank Fees

    We asked banking professions to share their biggest tips for tackling bank fees, and hopefully save more even before spring hits.
  5. Savings

    Mortgage Faceoff: Bank of America Vs. Wells Fargo

    Which bank offers the better mortgage deal? Here's how they compare on two popular types of mortgage.
  6. Savings

    Say Goodbye To Overdraft Fees

    At $35 a pop, overdraft fees can mount up quickly. Here are 4 different strategies for avoiding them.
  7. Savings

    Top Checking Accounts With No Overdraft Fees

    Choosing the right checking account could save you hundreds of dollars in fees every year.
  8. Savings

    How Foreign Transaction Fees Work

    Using a credit card when you travel can be costly. Here's what you need to know about foreign transaction fees – plus tips on making purchases abroad.
  9. Savings

    Where To Get A Mortgage If You Have Bad Credit

    Here's where to go if you have a low credit score and still want a mortgage.
  10. Credit & Loans

    5 Ways To Get The Best Mortgage Rates

    A mortgage is the biggest loan most people have. Be sure you get the best possible terms – you'll be paying it off for years.

You May Also Like

Hot Definitions
  1. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  2. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  3. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
  4. Hurdle Rate

    The minimum rate of return on a project or investment required by a manager or investor. In order to compensate for risk, ...
  5. Market Value

    The price an asset would fetch in the marketplace. Market value is also commonly used to refer to the market capitalization ...
  6. Preference Shares

    Company stock with dividends that are paid to shareholders before common stock dividends are paid out. In the event of a ...
Trading Center