(1) Effective date of transfer The term “effective date of transfer” means the date on which the mortgage payment of a borrower is first due to the transferee servicer of a mortgage loan pursuant to the assignment, sale, or transfer of the servicing of the mortgage loan.
The payment date should be the date that the payment was considered "received". This could be the system date or it could be a postmark date. The effective date is used to populate the effective date of the payment segment's financial transactions and is the date that the payment should affect penalty and interest.
The entered date is the date the transaction was entered in the journal, and is also known as the "entry date." It is often generated by ERP systems based on the date the transaction was entered by a user. The effective date is the date the transaction takes effect.
Credit or debit entries sent to a Receiver's account will be received by the RDFI from the ACH Operator and then posted to the Receiver's account.” Effective Entry Date (aka the Settlement Date) = the date your company intends the ACH entries to post to the accounts of the Receivers (employees or customers).
With normal ACH, the Effective Date for credit entries will be one or two days after the processing date; for debit entries, the Effective Date is the following banking day. Generally, the same timelines for ACH payments apply to other EFT payment types.
Payment, bill and adjustment financial transactions are assigned an effective date. This is the date that the debit or credit amount affects the obligation's balance and is important for penalty and interest calculations.
California. Most bills go into effect on January 1 of the year following a bill's enactment. Urgency measures take effect immediately after they are signed by the Governor, or after they are allowed to become law without the Governor's signature.
What is an effective date? An effective date is the date on which legal rights or obligations become binding between two or more parties. Effective dates arise in a broad range of circumstances. For example, contracts often include language stating that the entire contract becomes operational on a specific date.
Your processed date is correct - that's the date we actually process your return. Your effective date is also correct. The effective date is your due date for payment.
“Effective Date” means the day after the Agreement is signed by both parties.
However, ACH debits (money you pay out) will always post to the receiver's account by 8:30 a.m. Eastern time the following banking day, or sooner if you use Same-day ACH or real-time payments. Keep in mind that faster payments may come with additional fees, and not all banks offer Same-day and real-time processing.
The Direct Deposit Effective Date is the date that the bank is to enact the direct deposit transactions.
Effective Transfer means, on a Regulatory Approval by Regulatory Approval basis, the various filings required to be made by Kadmon and described on Schedule 3.7, and following such filings, the transfer of legal ownership of the Regulatory Approvals to an AbbVie Party and the acknowledgement of such transfer by the ...
The best days to transfer money are early in the week, such as Monday or Tuesday, and mid-month. These periods tend to have more stable currency exchange rates because they avoid the busy times at the end of the month and on Fridays, when many individuals and businesses make their transfers.
Explanation: Time taken to initiate a transfer is called Disk Latency. Latency is the time after which data transfer actually initiates. It is measured in Milli seconds.
Definition of effective date
date on which a transaction is posted, or an agreement becomes effective. Banking. The time when an expiring Certificate of Deposit is renewed at the current rate, and interest paid is adjusted accordingly.
Effective dates are the times when parties to a contract begin their obligations to perform under the contract. An effective date can be a date in the past (backdating) or in the future.
Examples from Collins dictionaries
Simple antibiotics are effective against this organism. They have had effective control of the area since the security forces left. The restructuring resulted in an effective increase on fares. The new rules will become effective in the next few days.
Effective Date: The date when the contract's terms become legally binding and enforceable. This is the date from which the rights, duties, and obligations of the parties begin. Execution Date: The date when the contract is signed by all parties, signifying their agreement to the terms of the contract.
In short, the effective date of a contract is not always the same as it was signed. An effective date example would be that both parties may decide to sign a contract on June 1st but could specify the effective date of July 1st. This means that the contract will only become legally binding on July 1st.
The effective date is the date on which the Originator wants the transactions to occur. Each Originator must confirm a valid and correct effective date for the ACH file. The company must consider whether the file is being sent traditionally or via Same Day ACH.
The processed date is the date we finish processing your return and update your tax account. If you're entitled to a refund, the effective date is usually the date we send your refund to your financial institution.
Initiation date: ACH payments are not processed on weekends or holidays. Payments initiated on these dates will not start processing until the next business day. Same-day ACH: Some financial institutions offer same-day ACH processing for an additional fee. This is a good option for urgent payments.