Payment of Interest
According to the regulation, interest-bearing accounts shall receive earnings from funds from the time they are collected by the depository institution, regardless of hold lengths.
Read more about this topic: Expedited Funds Availability Act
Famous quotes containing the words payment of, payment and/or interest:
“The payment of debts is necessary for social order. The non-payment is quite equally necessary for social order. For centuries humanity has oscillated, serenely unaware, between these two contradictory necessities.”
—Simone Weil (1909–1943)
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—Stephanie Marston (20th century)