Good money

Good money

Federal funds that clear on the same day, unlike clearinghouse funds, which require three days to clear.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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