What is a value date? When a payment really counts
By SendPay Business · · 2 min read
A value date is the date a payment actually takes effect: when money leaves one account or becomes available in another. It isn't always the same day you pressed send.
Three dates on one payment
- Transaction date: the day you instruct the payment.
- Value date: the day the money is treated as moved, for balances and any interest.
- Available date: the day the person being paid can spend it, which is often the value date.
Value dates in currency exchange
In the foreign exchange market, a standard "spot" trade usually settles two business days after it is agreed, written as T+2. A few pairs, such as US dollars against Canadian dollars, usually settle the next business day. A forward contract has a value date further in the future.
Why weekends and holidays matter
Value dates only fall on business days, and they must be a business day in the countries of both currencies. A payment made on a Friday afternoon, or before a bank holiday in either country, can take its value date to the following week.
Where SendPay fits
SendPay platforms give your customers GBP, EUR and USD accounts, transfers and currency exchange at a fee the owner sets, powered by licensed partners.
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Work out the value date with the free calculator.
Value date calculator →What is a payment cut-off time?
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What is a payment cut-off time? →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.