Refers to the date when the payer's bank confirms that the funds for a transfer are available and the instructions in a cheque have been processed.
The clearing cycle is the process by which a payment made by cheque or other methods through the banking system is transferred from the payer's to the payee's account. Different stages of clearance determine when the funds are available for use.
Value Date marks the specific day when funds from a remittance become available to the payee, denoting the culmination of the banking clearing cycle.
