Bank float refers to the time interval between when a check is written and when it's actually cleared in the payer's bank, during which the funds are not available to either the payer or the payee.
Understanding remittance, its types and examples, frequently asked questions, related terms, references, and further readings.
The remittance basis is a UK tax rule affecting individuals who are resident but not domiciled in the UK. It allows them to limit their UK tax liability on foreign income and gains only when these are brought into the UK.
In financial and accounting contexts, remittance refers to the act of sending a payment, which may be accompanied by a preprinted coupon or a remittance slip that provides critical details such as account number, date, and purpose of the payment.
A method of sending money to someone in urgent need of cash via telegraph offices.
Value Date marks the specific day when funds from a remittance become available to the payee, denoting the culmination of the banking clearing cycle.
