Apr 8, 2007 19:12
17 yrs ago
Italian term
extrafidi
Italian to English
Law/Patents
Law (general)
operazione attraverso la quale la banca anticipa al cliente l'importo versato prima della maturata data valuta
Proposed translations
(English)
| 4 +1 | Withdrawal against uncleared funds |
DCypher (X)
|
Proposed translations
+1
12 mins
Selected
Withdrawal against uncleared funds
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.
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.
Note from 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? |
4 KudoZ points awarded for this answer.
Comment: "Thank you"
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