To avoid this risk, the bank will estimate the day it will receive the money from the paying institution, and hold the funds in the payee’s account until the expected day of receipt.In effect, the bank will post the amount of the deposit for a couple of days, after which the payee can use the funds.The value date is usually, but not always, the settlement date.
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When there is a possibility for discrepancies due to differences in the timing of asset valuation, the value date is used.
In Forex trading, the value date is regarded as the delivery date on which counterparties to a transaction agree to settle their respective obligations by making payments and transferring ownership.
Please contact the issuing department or agency responsible for each of your payments to notify them of your address change.
The Government of Canada is switching to electronic payments.
The date the funds are released is referred to as the value date.
Likewise, when a wire transfer is made from an account in one bank to an account in another bank, the value date is the date on which the incoming wire becomes available to the receiving bank and its customer.
Due to differences in time zones and bank processing delays, the value date for spot trades in foreign currencies is usually set two days after a transaction is agreed on.
The value date is the day that the currencies are traded, not the date on which the traders agree to the exchange rate.
I am the executor of a deceased relative's estate and a payment for the deceased was recently received from a federal department.
What do I do with the cheque, or with the money deposited directly in the deceased's account? Although all payments to and from the Government of Canada are made in the name of the Receiver General, enquiries regarding taxes and tax payments should be made directly to the Canada Revenue Agency.
After verification is completed, which may include the completion of legal forms, a new cheque will be issued or a new payment will be deposited.