Banking question (episode 1): what is a value date? – 01/05/2024 at 08:00

Among the very useful dates to know from a banking perspective, there is the date of the operation (in other words that of the day D), the processing date which corresponds to the theoretical handling of a request by the bank and the famous value date which corresponds to the effective taking into account by the establishment. Often unknown or little understood, the concept of value date potentially has an impact for bank account holders. We explain why and how…

What is the value date used for?

The value date takes into account a period which runs until the next working day with, in certain cases, a safety margin of one additional day for credits and one day earlier for debits. It integrates the administrative processing of transactions requiring manual verification and recording by the bank.

How is the value date calculated?

The value date is the start date used for the calculation of debit (agios) or credit interest (in the case of savings). It is governed by regulations so each bank must comply with the deadlines in force. It is the deposit of cashed checks and the debit of issued checks that can cause certain points of friction, causing possible payment incidents (such as overdraft).

The rule to know:

according to article L.131-1-1 of the monetary and financial code, the difference between the value date of a check payment transaction and the transaction date cannot exceed one working day.

Let’s take an example: a person deposits a check at an agency on Saturday evening. The offices being closed on Sunday and Monday, the registration of the check to be cashed will take place on Tuesday for a value date on D+1 (i.e. Wednesday).

On the other hand, for the third party whose account is to be debited, the value date taken into account for this same check will be defined as D-1, i.e. Monday. This rule tends to discourage customers of the banking system from paying by check or accepting this method of payment from another person.

To see clearly:

there is generally no gap between the processing date and the value date for transfers and direct debits. These payment methods are therefore more reliable and do not cause unpleasant surprises! As for cash withdrawals or deposits for individuals, the two dates (transaction and value) are combined for a real-time view of the bank balance, except for those made abroad for which the value date is the date of receipt of the transaction by the bank.

What are the potential effects of the value date?

You will have understood, in the case of the check, the person who issues it must ensure that there is a sufficient balance within a shorter period (D-1 from processing) than that of the actual collection by the beneficiary. (D+1 from registration). In the event of unavailability of funds, agios will be calculated from the date of registration until a new inflow of money of a sufficient amount.

The particular case of deferred debit cards:

whatever the day of the transaction carried out, the sums will be accumulated and debited on an effective debit date which can be chosen or positioned by the bank, for example the 1st working day of the month. This date does not result from a calculation in relation to that of the transaction and is therefore not considered a value date.

The value date can have concrete impacts on the progress of your banking transactions. If possible, avoid the use of checks and if necessary, anticipate the forecast value date so as not to have to deal with it again. See you soon for a next “banking question”.

https://www.lafinancepourtous.com/pratique/banque/le-compte-bancaire/les-releves-bancaires/le-releve-de-compte/les-dates-de-valeur/

https://droit-finances.commentcamarche.com/patrimoine/guide-patrimoine/879-dates-de-valeur-et-releves-virement-bancaire-et-cheques/