Funds that are available for transfer or withdrawal the same day as presented and collected, subject to net settlement of accounts between presenting and remitting banks, or sending and receiving banks. Federal Funds transferred from one bank to another over the Fed Wire are same day funds, as are transfers through the Clearinghouse Interbank Payments System in New York.
Same Day Funds
| Banking Dictionary: Same Day Funds |
| 5min Related Video: Same Day Funds |
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 | Finality of Payment (in banking) |
| Next Day Funds (in banking) |
| Same-Day Funds Settlement (SDFS) (finance term) |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Finality of Payment (in banking)
- Next Day Funds (in banking)
- Same-Day Funds Settlement (SDFS) (finance term)
- Immediate Credit (in banking)
- Eurocommercial Paper (in banking)
- Wire Transfer (in banking)
- Good Money (in banking)
- Clearing House Funds (finance term)
- ISO 4217
- Cognos
- Bank regulation in the United States
