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:
“There are always those who are willing to surrender local self-government and turn over their affairs to some national authority in exchange for a payment of money out of the Federal Treasury. Whenever they find some abuse needs correction in their neighborhood, instead of applying the remedy themselves they seek to have a tribunal sent on from Washington to discharge their duties for them, regardless of the fact that in accepting such supervision they are bartering away their freedom.”
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—Ralph Waldo Emerson (1803–1882)
“One should never make one’s debut with a scandal. One should reserve that to give an interest to one’s old age.”
—Oscar Wilde (1854–1900)