Book transfer

A book transfer is the transfer of the legal right of ownership of an asset, without physically shifting the asset to the new owner. The most common use of the concept is when a bank transfers funds from the account of the payer to the account of the payee when both accounts are with the same bank. This results in the very fast clearing of funds, so that the payee can use the transferred cash almost immediately.

Related Courses

Corporate Cash Management 
Payables Management 
Treasurer's Guidebook