Business Day

AAA

DEFINITION of 'Business Day'

A measurement of time that typically refers to any day in which normal business is conducted. This is generally considered to be Monday through Friday from 9am to 5pm local time, and excludes weekends and public holidays. Within the securities industry, any day the financial markets are open for trading is considered to be a business day.

INVESTOPEDIA EXPLAINS 'Business Day'

Consumers often encounter the issue of a business day when depositing a check that needs to clear. Depending on the size of the check being deposited and the location of the issuer it can take between two and 15 business days for a check to clear, and those days do not include weekends or observed public holidays, which can extend the time period that a depositor needs to wait to access those funds. When conducting international business transactions, individuals and companies should be aware that business days may vary by country due to a difference in the public holidays observed.

RELATED TERMS
  1. Check

    A written, dated and signed instrument that contains an unconditional ...
  2. Checking Account

    A transactional deposit account held at a financial institution ...
  3. Bounced Check

    A slang word for a check that cannot be processed because the ...
  4. Insufficient Funds

    Occurs when an account cannot provide adequate funds to satisfy ...
  5. Float Time

    The amount of time between when an individual writes and submits ...
  6. Available Balance

    Balances in checking or on-demand accounts where there is a delay ...
Related Articles
  1. Tired Of Banks? Try A Credit Union
    Retirement

    Tired Of Banks? Try A Credit Union

  2. Demystification Of Bank Accounts
    Options & Futures

    Demystification Of Bank Accounts

  3. The History Of The FDIC
    Retirement

    The History Of The FDIC

  4. Cut Your Bank Fees
    Personal Finance

    Cut Your Bank Fees

comments powered by Disqus
Hot Definitions
  1. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  2. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  3. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  4. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  5. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  6. Budget Deficit

    A status of financial health in which expenditures exceed revenue. The term "budget deficit" is most commonly used to refer ...
Trading Center