What is the posting date of a transaction?

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Prepare for the AML Rightsource Training Test. Study with flashcards and multiple-choice questions, each with hints and explanations. Ace your exam!

Multiple Choice

What is the posting date of a transaction?

Explanation:
The posting date is the date the transaction posts to the account—the moment the bank records the entry in the ledger. This is when the balance is updated to reflect that transaction and is the date used for tracking the item in your account history and for compliance monitoring. It's different from when funds are initiated (the instruction date) or when funds actually clear or settle in the system, which can happen earlier or later than the posting date.

The posting date is the date the transaction posts to the account—the moment the bank records the entry in the ledger. This is when the balance is updated to reflect that transaction and is the date used for tracking the item in your account history and for compliance monitoring.

It's different from when funds are initiated (the instruction date) or when funds actually clear or settle in the system, which can happen earlier or later than the posting date.

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