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extrafidi

English translation: Withdrawal against uncleared funds

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19:12 Apr 8, 2007
Italian to English translations [PRO]
Law/Patents - Law (general)
Italian term or phrase: extrafidi
operazione attraverso la quale la banca anticipa al cliente l'importo versato prima della maturata data valuta
potra
United States
Local time: 13:00
English translation:Withdrawal against uncleared funds
Explanation:
I am not aware of this being a particular product and therefore it doesn't have a particular name (as far as I am aware).

Typically this is as service granted to high net worth or established customers and, of course, to corporates who will have certain allowances on how much they can "overdraw" on cleared funds.

I would even suggest the "advance on uncleared funds", but in the UK particularly advance is synonomous with formal lending decisions.

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Note added at 53 mins (2007-04-08 20:06:17 GMT)
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In answer to your note, "advance on uncleared funds" is the closest I can get.
Selected response from:

xxxDCypher
Local time: 19:00
Grading comment
Thank you
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1Withdrawal against uncleared fundsxxxDCypher


  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Withdrawal against uncleared funds


Explanation:
I am not aware of this being a particular product and therefore it doesn't have a particular name (as far as I am aware).

Typically this is as service granted to high net worth or established customers and, of course, to corporates who will have certain allowances on how much they can "overdraw" on cleared funds.

I would even suggest the "advance on uncleared funds", but in the UK particularly advance is synonomous with formal lending decisions.

--------------------------------------------------
Note added at 53 mins (2007-04-08 20:06:17 GMT)
--------------------------------------------------

In answer to your note, "advance on uncleared funds" is the closest I can get.

xxxDCypher
Local time: 19:00
Native speaker of: Native in EnglishEnglish
PRO pts in category: 111
Grading comment
Thank you
Notes to answerer
Asker: Yes, that is the concept, basically the company issued post-dated checks and the financial institution honored them prior to their actual date. Is there a more concise localization version, like 'advance credits' et al?


Peer comments on this answer (and responses from the answerer)
agree  James (Jim) Davis
11 hrs
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