Value date

Value date (value date) referred to in banking fixing the date on which a credit or debit to an account takes effect or impact on interest. Synonymous with the value date is the value date.

Calculation

The interest calculation for credits or debits begins or ends with the value date on the current account in question. Thus, if an amount credited to an interest bearing account vendor, starts with the value date of the calculation of interest credited for the sales items. If an amount is debited, sent out according to the calculation of interest for the sales items concerned. This applies vice versa also for debit accounts.

Value position clauses

Value position clauses governing the date on which received the account movement for the interest calculation in each case to forming intermediate balance. You have often employed the case-law. By cash deposits into the account already created with the deposit - and not only with the credit or the value date - the customer demand rights against the bank. Your contractual obligation from the current contract is the bank therefore only complete after when she and temporally, that is worth positionally correctly in the current account adjusts the amount of the transfer. Only with the value date, ie the determination of the calendar day for which received the transfer amount in the relevant for the calculation of interest (interim) balance of the current account, the amount of interest may disproportionately affect. An exception applies, however, expressly for credits from deposited checks that are made subject to the check cashing.

The force since January 2002 provisions of § 676g of the Civil Code was replaced by the provisions of § 675T BGB in November 2009. Then have to be booked immediately upon receipt for transfers within the same bank payments, the value date must the same day as the payment is done. It can be assumed that the booking of a credit on the following business day to the input is still permitted. The legal text draws on the jurisprudence of the Federal Court for value for incoming transfers. The Supreme Court had made it clear that the credit, even if they are made ​​in arrears, shall be such that the value position of the received amount to the account of the client is done with the date of the day on which the amount has been made ​​available to the lending institution. Only with companies may take a different value date agreement for cash payments, the beneficiary financial institution, as referred to in the legislation to consumers.

Transparency of account balances

If banks show on bank statements, online banking or ATM ledger balances, this can cause the customer stands funds, although the accounts in, but are not yet valuta credited to the account. It is therefore, according to the Supreme Court permitted if credit institutions View the book balance at the ATM. In order for the banks breached their contractual obligations under a current contract if they account holders in particular in each of the last days of the month on balance inquiries at ATMs incorrect information about the status of their current accounts from other members (§ § 676f, § 675 para 1 BGB in connection with § 666 BGB). This mislead customers is readily preventable. Either by explanatory notes or by ( partial) waiver of the additional customer service an automated information about the account balance The account balance inquiry at the ATM was, according to the Supreme Court as a credit as established by the display of pension payments before their value position that many customers may be misled for a balance inquiry. The customers might be encouraged by this account balance information through unintentional overdrafts to take credit offered by banks claim that they would not have taken on the true account balance statement to complete. In continuation of this case-law that the Supreme Court decided in 2007 that bank statements are misleading, if the account balance does not " worth Asked " includes amounts which to value date can not be disposed of without load with nominal interest rates, even if the individual account sales the different value position anzeigten.

Others

For different value dates set a transfer between two accounts with the same bank, interest rate advantages ( valuation profit ) for the bank, since output still be calculated on the target account interest for the period between the value dates for the amount transferred on either the.

Typically, securities, foreign exchange and precious metals transactions in Germany are recorded with a two-day value date, ie two business days after the actual transaction. This is due to the fact that the transaction is a cash transaction is based.