subject: Transfer time: availability of funds [print this page] Transfer time: availability of funds Transfer time: availability of funds
Important new features include the so-called "transfer time", ie. the time it takes to put the banks at our disposal the money moved through a transfer. We know the directive and the relevance for us.
European Directive: effects on Money
Most important is the recent European directive came into force in our country that relates very closely the so-called "transfer time". The reference document is the Payment Services Directive which, in fact, the main objective of linking around certain provisions, the Bank's operations in the various European Union countries. In Europe it was decided that should be enough for one day because a sum is transferred from the account of the person making a transfer to that of the recipient. A big step forward for the time transfer. The purpose of this directive is the timing of the transfer, ie. the "speed" with which the money must now become available, but also the RID and payment cards.
Times accreditation: immediate
The news then was introduced by the Directive on the timing of the transfer require the immediate benefit of our customers. This means that banks can not make us wait for days to be credited to our account the sum of reference of each transfer order. What does this mean? If you receive a credit on the 15th of the month, for example, the sum becomes busy with it now, on our account the same day.
Cash and currency
The Payment Services Directive, therefore, focused on every aspect involving a transfer. The timing of the transfer are inevitably linked to the availability of money, which will, henceforth, be made usable on the same day, but also the so-called value date, ie. the time which also start to earn interest on that same amount money. All the so-called "timing of a transfer" were homogenized and then also the value date is immediate and starts from the moment in which the Bank has credited the amount to our account.
