Which of the following is the best definition of same day value?

A) The need to hold cash to take advantage of additional investment opportunities, such as bargain purchases.
B) Much like an automated teller machine card; one use is within corporations to control access to information by employees
C) Bank makes proceeds of cheques deposited available the same day before cheques clear.
D) The need to hold cash as a safety margin to act as a financial reserve.
E) Special post office boxes set up to intercept and speed up accounts receivable payments.

Question

Brandon Kipper · Accepted Answer

Final Answer : C, Explanation :  Same day value refers to the banking practice where the bank makes the proceeds of cheques deposited available to the account holder on the same day the cheques are deposited, even before the cheques have cleared. This is particularly useful for businesses and individuals who need immediate access to funds.

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