Value dating: Difference between revisions
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imported>Doug Williamson m (Replaced current definition with information from Cert ITM Study Unit 4, 4.3.2 and Cert ICM Chapter 2, 2.5.1 to make it more comprehensive) |
imported>Doug Williamson m (Simplify wording.) |
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The practice of dating a customer transaction at some date other than the date at which the bank itself lost or gained value. | The practice of dating a customer transaction at some date other than the date at which the bank itself lost or gained value. | ||
Used by banks in some countries as an indirect method of earning fees | Used by banks in some countries as an indirect method of earning fees. | ||
It can be applied to all methods of payment both forwards and backwards in time. | It can be applied to all methods of payment both forwards and backwards in time. | ||
Revision as of 19:41, 4 April 2014
The practice of dating a customer transaction at some date other than the date at which the bank itself lost or gained value.
Used by banks in some countries as an indirect method of earning fees.
It can be applied to all methods of payment both forwards and backwards in time.
