Definition of Post date:
The post date is the day, month, and year when a card issuer posts a transaction and adds it to the cardholder’s account balance. It is the date on which funds are taken or added to an account. Also called the settlement date, the post date can be on the same day as the transaction date. Often, however, the post date will occur one to three days later. The period between the transaction date and the post date is called the float.
Electronic payments often require communication with multiple entities, which can affect a transaction’s post date. Banks have systems in place that help an account holder to manage the balance on their account during the floating time period between when the transaction occurs and when it is posted or settled.
Assign a date later than the actual one to (a cheque or other document).
When a date from the future is placed on a check or other document. This is an accepted form of payment between a business owner and a client.
Occur or come at a later date than.
How to use Post date in a sentence?
- Post date is the day when funds are added or subtracted from a credit card account balance.
- Also known as the settlement date, the post date can be the same day as the transaction date or one to three days later.
- Stonehenge was presumed to post-date these structures.
- A number of the cheques were post-dated to 1 October, 2003.
- Post date is important because it can affect late fees and the amount of interest rate charges on a credit card.
- Each credit card company has rules on when a transaction is posted based on when a charge is made or when a payment is received.
Meaning of Post date & Post date Definition