Examples of Initiation Date in a sentence
For "Today" Inter-Bank Transfers made during a session, you must schedule the transaction as a "Today" Inter-Bank Transfer before 3:00 p.m. on one of our Business Days for the Scheduled Initiation Date to be that day.
Otherwise, "Today" Inter-Bank Transfers scheduled after 3:00 p.m., or on a non-Business Day will have a Scheduled Initiation Date of, and thus will be initiated on, the following Business Day.
Sufficient funds must be available in your Designated Deposit Account by midnight of the night before the processing date, but will be deducted from your Designated Deposit Account on the Scheduled Initiation Date.
If the Scheduled Initiation Date falls on a non-Business Day, the transfer will occur on the next Business Day.
Generally, the account holding institution will receive the funds no later than four Business Days following the Scheduled Initiation Date.