The notion of "banking days": what is it?

person, even if just to keep in the hands of the contract with the financial obligations, certainly in sight phrase "banking days".As a rule, they are measured in terms of payments, deliveries and other activities.Therefore, to avoid confusion during the execution of the agreement, each party must clearly know what this concept.

interpretation and use

By definition, business day - a period of time of the state-owned banks (from the opening of the electronic payment system and to its closure).That is, it turns out that during this time may be any payments between individuals and legal entities, as well as financial institutions, including the interbank.

term is used in all loan and deposit contracts, it is also present in other financial instruments concluded under the purchase and sale, delivery and so on. D. As a rule, the phrase "banking day" means a period of time, except forweekends and public holidays.Unfortunately, this definition does not always match reality.Indeed, firstly, the weekend the banks (even the government) do not always coincide with national.Secondly, when it comes to payment transactions, the concept of "business day" similar to the term "operating time" and is measured in hours, not days.In this connection, the value of the phrase varies depending on the situation.

Banking days in cash and settlement services

organizations, enterprises and individuals, current accounts, making payments to other counterparties, must also comply with certain time-frame.For example, a weekend (not banking) days can only those operations that are performed by an internal SOPs.

turns out that if an individual is on a day to transfer money, for example, on the card to someone else, but open in the same financial institution, they will reach the recipient on time.When the funds should be transferred from one bank account to another, in the course is interbank system.Therefore, the money sent in the day, go to the account only at the beginning of the first working.The contracts of settlement and cash services, concluded between the customer and the bank, as a rule, specifies the time during which carried out all kinds of payment transactions.At the same time 1 business day shall be granted only for internal calculations.The rest carried over from 3 to 5.

Use of the term of the supply agreement

At the conclusion of transactions in goods or services the payment terms, as a rule, also negotiated with the notion of "banking days".This is done to avoid confusion during the weekends and holidays, particularly protracted.For example, in some states there are New Year's or Christmas break, during which do not open payment systems.These days are not considered banking and fall out of the calculation of the total commitment deadlines.

Thus, it turns out that, depending on the context, the term can have different meanings.Banking Day - is, on the one hand, the day of the payment system in the country.On the other - the time interval since its opening until closing.