Good money


Also found in: Idioms.

Good money

Federal funds that clear on the same day, unlike clearinghouse funds, which require three days to clear.

Good Money

1. Federal funds that are transferred over the fed wire and are received by the recipient bank on the same day. Good money contrasts with clearinghouse funds, which are not received for three days.

2. See: Sound money.
References in classic literature ?
He's earning very good money. He makes seven pounds a week now and he's got prospects."
I never wasted good money of mine, nor lost it neither; and I'll trick 'em again.
"If I could once ketch that consarned old thief," exclaimed Abner righteously, "I'd make him dance,--workin' off a stolen sleigh on me an' takin' away my good money an' cider press, to say nothin' o' my character!"
That I should innocently take a bad half-crown of somebody else's manufacture, is reasonable enough; but that I should knowingly reckon the spurious coin of my own make, as good money! An obliging stranger, under pretence of compactly folding up my bank-notes for security's sake, abstracts the notes and gives me nutshells; but what is his sleight of hand to mine, when I fold up my own nutshells and pass them on myself as notes!
And curious it was, I decided, this whim of nature that made men happy in spending good money for beer for a fellow like me who didn't want it.
"What should I do--I, who have paid my good money for him?"
"My daughter," exclaimed my guide, "I have brought you the famous dog belonging to the baker which can tell good money from bad.
You never got anywhere working for your relatives, he said, so when he was a journeyman he went to Vienna and worked in a big fur shop, earning good money. But a young fellow who liked a good time didn't save anything in Vienna; there were too many pleasant ways of spending every night what he'd made in the day.
But we all know that she hates parting with good money; and the rest of the family have no particular interest in keeping Madame Olenska here."
Peter Winn, SIR: I send you respectfully by express a pigeon worth good money. She's a loo-loo--"
I make good money, an' you wouldn't want for anything.
Good money!' Jeremiah picked the bill up, looked at the total with a bloodshot eye, took a small canvas bag from his pocket, and told the amount into his hand.