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.

RELATED TERMS
  1. Book Balance

    Funds on deposit prior to any adjustment for check clearing, ...
  2. Transfer

    A change in ownership of an asset, or a movement of funds and/or ...
  3. Negative Float

    The period of time between when a bank customer writes a check ...
  4. Current Transfers

    A current account transaction in which a resident entity in one ...
  5. Float Time

    The amount of time between when an individual writes and submits ...
  6. Availability Float

    The time period between when a deposit is made and when the funds ...
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RELATED FAQS
  1. 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 >>
  2. In what ways has technology helped to reduce float?

    Learn more about the impact of float on the U.S. monetary system and how technology has changed the amount of float as measured ... Read Answer >>
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