valid date for accruing interests
Hi,
if I pay in a cheque in my current account, how can I define the date from wich the funds will be available after the bank holding periods and they start acrruing credit interests? I'm Italian and I'd like to know this banking word.
Thank you.

Question

valid date for accruing  interests
Hi, 
if I pay in a cheque in my current account, how can I define the date from wich the funds will be available after the bank holding periods and they start acrruing  credit interests? I'm Italian and I'd like to know this banking word. 
Thank you.

Answer

When this happens you say the check has 'cleared'.

Answer

You would just state the date. 
"The interest rate is applied on March 24" etc.. I read your comment to Paul and I assume this is what you're wondering..

If there is a special word for this, I'm unaware of it..

Answers · 4

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