Cut-off time vs Value date: what is the difference?
A cut-off time is the deadline for sending an instruction. A value date is when the money is actually available to the receiver. Miss the cut-off and the value date usually moves to the next business day.
| Cut-off time | Value date | |
|---|---|---|
| In one line | Cut-off time is the deadline by which a payment system, bank or provider must receive an instruction. Instructions received later move to the next settlement cycle or business day. | Value date is the date on which a payment or obligation is due and the funds become available to the receiving party. It can differ from the date an instruction was sent or booked. |
| Read more | Cut-off time | Value date |
How they work together
Funding a corridor means working back from the value date you need to the cut-off you must hit, around weekends and bank holidays in both countries.
Where Polynopsis fits
Polynopsis shows each corridor's balance against the next payout batch, so top-ups go out before the funding bank's cut-off rather than after it. The holiday calendars show the days a cut-off moves.
Polynopsis tracks a transfer from send to settle, so money sent today with a later value date stays in flight in the position until it is available.
Frequently asked questions
What is the difference between cut-off time and value date?
A cut-off time is the deadline for sending an instruction. A value date is when the money is actually available to the receiver. Miss the cut-off and the value date usually moves to the next business day.
What is Cut-off time?
Cut-off time is the deadline by which a payment system, bank or provider must receive an instruction. Instructions received later move to the next settlement cycle or business day.
What is Value date?
Value date is the date on which a payment or obligation is due and the funds become available to the receiving party. It can differ from the date an instruction was sent or booked.
Sources
- CPMI glossary · Committee on Payments and Market Infrastructures, Bank for International Settlements
- Fedwire Funds Service and National Settlement Service Operating Hours · Federal Reserve Financial Services
- How minting works (Circle Mint) · Circle (developer documentation)
- Steady as we go: results of the 2023 CPMI cross-border payments monitoring survey (CPMI Brief No 5) · Bank for International Settlements
- Value date · ACT Wiki, Association of Corporate Treasurers
- International Money Express, Inc. Form 10-K for fiscal year 2024 · U.S. Securities and Exchange Commission (EDGAR)
Know where all your money is.
Polynopsis gives cross-border payment teams one live position across every bank, payout partner, exchange and wallet, including money in flight, and warns before a corridor runs dry.
About Polynopsis
Polynopsis is liquidity management software for cross-border payment companies. The name joins poly, many, and synopsis, a seeing together: one live view of money spread across many banks, payout partners, exchanges and stablecoin wallets, including money in flight, with a warning before any corridor runs dry.
Why it is called Polynopsis · About Polynopsis · Glossary · Corridor runway calculator