Same-Day Funds

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Money that can be transferred or withdrawn the same day that it is deposited.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.

BREAKING DOWN '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. Next-Day Funds

    In banking, money that becomes available for use on the day following ...
  2. Same-Day Substitution

    An offsetting change in a margin account, made over the trading ...
  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four ...
  4. Cash Delivery

    1. The same-day settlement of a currency trade in the forex market. ...
  5. Deposit

    1. A transaction involving a transfer of funds to another party ...
  6. Cleared Funds

    A balance in an account that is able to be withdrawn or used ...
Related Articles
  1. Markets

    Best Buy Expanding Same-Day Delivery

    The only real advantage a physical retailer like Best Buy (NYSE: BBY), Wal-Mart, or Target has over online competitors is immediacy. Consumers can look at an item, handle it, then bring it home. ...
  2. Investing

    How Time Deposits Work

    A time deposit is an interest-bearing bank deposit that has a specific maturity date.
  3. ETFs & Mutual Funds

    Do Money-Market Funds Pay?

    This investment provides security, but its returns may not be adequate for long-term investors.
  4. Personal Finance

    What is a Demand Deposit?

    A demand deposit is any type of account where the money in the account may be withdrawn at any time without prior notice to the financial institution.
  5. ETFs & Mutual Funds

    Why Money Market Funds Break The Buck

    These funds are noted for their safety in a rough market. Read on to find out why.
  6. Personal Finance

    Where To Put Your Cash: Call Deposit Vs Time Deposit Accounts

    Time deposit accounts and call deposit accounts allow customers to earn higher interest in exchange for less access to their cash.
  7. ETFs & Mutual Funds

    Debt Mutual Funds Vs. Fixed Deposits

    Learn about the advantages and disadvantages of debt-oriented mutual funds and fixed deposit accounts, including how each investment generates income.
  8. ETFs & Mutual Funds

    Savings Accounts Not Always The Best Place For Cash Assets

    Money market funds may be all that stands between you and increasing your wealth.
  9. Managing Wealth

    Money Market Funds: Enough Regulation Already?

    Since September, the Securities and Exchange Commission (SEC) has been sitting on proposed rules for money market mutual funds that would affect 61 million individual investors plus untold businesses ...
  10. Managing Wealth

    Mutual Funds: Different Types Of Funds

    No matter what type of investor you are, there is bound to be a mutual fund that fits your style. According to the last count there are more than 10,000 mutual funds in North America! That means ...
RELATED FAQS
  1. How do mutual fund trades clear and settle?

    Learn how mutual fund trades are cleared and settled, and when the money owed must be available or the proceeds due must ... Read Answer >>
  2. What determines the interest rate in my money market account?

    Placing funds in a money market account may provide a higher interest rate than a savings account due to the underlying securities ... Read Answer >>
  3. 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 >>
  4. For what types of accounts are demand deposits available?

    Learn about the different types of accounts designated as demand deposit accounts, such as savings accounts and money market ... Read Answer >>
  5. How liquid are BlackRock mutual funds? (BLK)

    Discover if BlackRock mutual funds are liquid. Learn about the available payment options and how long it takes for a payment ... Read Answer >>
  6. How liquid are money market accounts?

    Understand the characteristics that distinguish money market accounts from checking, savings account and money market funds ... Read Answer >>
Hot Definitions
  1. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  2. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  3. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  4. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  5. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  6. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
Trading Center