Settlement Date

The date an exchange of funds will be reflected on the books of the Federal Reserve Bank.

Related Terms

  • ACH Debit

    An ACH debit occurs when the receiver’s account is debited.

    Learn More

  • E-Check (or echeck)

    E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox...

    Learn More