Same-Day Funds

AAA

DEFINITION of 'Same-Day Funds'

Money that can be transferred or withdrawn the same day that it is deposited. Same-day funds are subject to the net settlement of accounts between the banks that present and remit the funds. Most customer deposits are not same-day funds and are usually not available for withdrawal until the next business day.

INVESTOPEDIA EXPLAINS 'Same-Day Funds'

"Same-day funds" can also refer to federal funds that are sent via bank wire. This money would be sent between banks via Fedwire the same day. Clearing House Interbank Payments System transfers in New York are also known as same-day funds.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Federal Funds Rate

    The interest rate at which a depository institution lends funds ...
  3. Net Settlement

    The resolution of all of a bank's transactions at the end of ...
  4. Next-Day Funds

    In banking, money that becomes available for use on the day following ...
  5. Clearing House Interbank Payments ...

    The primary clearing house in the U.S. for large banking transactions. ...
  6. Federal Funds

    Excess reserves that commercial banks deposit at regional Federal ...
RELATED FAQS
  1. No results found.
Related Articles
  1. Bonds & Fixed Income

    The Treasury And The Federal Reserve

    Find out how these two agencies create policies to stimulate the economy in tough economic times.
  2. Economics

    The Importance Of Inflation And GDP

    Learn the underlying theories behind these concepts and what they can mean for your portfolio.
  3. Credit & Loans

    How Interest Rate Cuts Affect Consumers

    Traders rejoice when the Fed drops the rate, but is it good news for all? Find out here.
  4. Savings

    Say Goodbye To Overdraft Fees

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

    Top Checking Accounts With No Overdraft Fees

    Choosing the right checking account could save you hundreds of dollars in fees every year.
  6. 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.
  7. 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.
  8. 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.
  9. Savings

    Picking A Lender: Quicken Loans Or A Local Bank?

    Online mortgage lender Quicken Loans has become known for its convenience and customer service. But brick-and-mortar banks offer benefits of their own.
  10. Savings

    Quicken Loans Vs. Other Mortgage Sources

    By allowing customers to initiate and manage the mortgage process online, Quicken Loans may appeal to borrowers who value convenience.

You May Also Like

Hot Definitions
  1. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  2. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
  3. Law Of Supply

    A microeconomic law stating that, all other factors being equal, as the price of a good or service increases, the quantity ...
  4. Investment Grade

    A rating that indicates that a municipal or corporate bond has a relatively low risk of default. Bond rating firms, such ...
  5. Fringe Benefits

    A collection of various benefits provided by an employer, which are exempt from taxation as long as certain conditions are ...
  6. Irrevocable Trust

    A trust that can't be modified or terminated without the permission of the beneficiary. The grantor, having transferred assets ...
Trading Center