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What is a clearing period and how is it affected by banking holidays?

Anna
Updated

A clearing period is a timeframe required for funds to be fully processed and available in an account after a transaction. This is a security measure to mitigate ACH debit fraud risks. Typically, clearing periods are calculated in business days, meaning they exclude weekends and banking holidays.

Banking holidays can cause delays in the clearing process. If a banking holiday falls within your organization's deposit product's clearing period, it may result in a longer wait time for funds to become available.

If you're interested in exploring a shorter clearing period for your specific needs, we can provide guidance on the necessary steps to submit a request to your bank.

 
 
 
 
 
 
 

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Anna Balagula
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