What it is:
Same-day funds can be deposited and then withdrawn on the same day.
How it works/Example:
Let's say John Doe gets paid every other Friday. His employer automatically
Why it matters:
Not all deposits are same-day funds, as anyone with an overdraft account tell you. For example, depositing checks from foreign banks and even out-of-state checks often take a day or more to become available in a checking account.