What Does Effective Date Mean In Banking?

What is the effective date of an agreement?

In contract law, the effective date is the date that an agreement or transaction between or among signatories becomes binding.

For an initial public offering (IPO), it is the date when shares can first be traded on an exchange..

How do you use effective date in a sentence?

Effective date sentence examplesPoints of interest 1. … A further actuarial valuation is being carried out with an effective date of 31 March 2004. … Points of interest 1. … Any dental services performed prior to the effective date of the insurance coverage will not be paid for by TriCare.More items…

What does effective date mean on direct deposit?

Every ACH transaction has an “Effective Date,” which is the date you intend the payment or deposit to post to the receiver’s account. Using direct deposit of payroll as an example, the Effective Date is the date that you intend your employees to be paid.

What is the meaning of Effective from?

adequate to accomplish a purpose; producing the intended or expected result: effective teaching methods; effective steps toward peace. actually in operation or in force; functioning: The law becomes effective at midnight. producing a deep or vivid impression; striking: an effective photograph.

Is effective as of?

Number 1, with “as of”, is correct. The “as of” is optional: you could just say, “He issued the certificate effective April 2014.” If a document or status has no particular end date, we usually say that it is effective “as of” the start date.

What does effective date mean on bank statement?

Field Description – Direct Deposit Effective Date. The Direct Deposit Effective Date is the date that the bank is to enact the direct deposit transactions. Usually the Effective Date is the same as the Check Date.

What does it mean by effective date?

From Wikipedia, the free encyclopedia. An effective date or as of date is the date upon which something is considered to take effect, which may be a past, present or future date. This may be different from the date upon which the event occurs or is recorded.

What does payment effective date mean?

FINANCE, LAW. the date when an agreement starts to operate, or when something is recorded as being bought or sold: Payment of severance pay will commence as soon as practicable after the effective date.

What does effective date mean in health insurance?

You’ve pressed Send on your health insurance enrollment application and paid your premium. … Your health insurance coverage start date—also called your plan’s “effective date”—is the day your insurance company will begin helping to pay for your medical expenses. Before that date, they won’t.

What is the difference between posted date and transaction date?

What do you mean by posting date and transaction date on my statement? The transaction date is when you actually bought an item, or took out money (interest is charged from this date). The posting date is when we receive the information that you did so.

What does as of a date mean?

: on, at, from —used to indicate a time or date at which something begins or endstakes effect as of July 1As of now, it’s difficult to tell in a cancer’s early stage which patients have which kind of tumor.—

What does effective date of registration mean?

Registration Effective Date means the first date on which the Registration Statement has been declared effective.