I got to know about what is value date in bank statement after my transaction for the CESC electricity bill was put on hold. Let me share what exactly happened so that you understand the concept better. I carried out a transaction at 9pm one day and the money got deducted from my account. However the payment was on hold from CESC’s end. Next day when I visited the bank and updated my passbook, it showed that the money had been deducted. I thought I would get it refunded instantly but it didn't happen. Now the value date in this case was the date when I carried out the transaction and this is the simplest answer for what is
value date in bank statement means.
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Is transaction date and value date same?Now please do not consider the value date and the transaction date as the same. The value date refers to the date when the transaction took place but the transaction date is the date when the bank posts it in your account.
Now for my case my value date was on 9th July 8pm but the transaction date that got reflected in the passbook was 10th July 1pm. Yes, on the next day my money got refunded at 1pm only.
This is what the value date in bank statement means and I hope I have been able to explain it to you nicely.
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What is Value Date in Bank Statement?
Nizam Khan
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1
2 Year
2022-10-20T09:27:16+00:00 2022-10-20T09:27:19+00:00Comment
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