A value date is the date on which funds or account entries are treated as effective for settlement, availability or interest under an applicable banking arrangement. It can differ from the date the payment was created, authorized, debited or displayed to the Recipient.
The ECB payments glossary describes value date as the agreed date for placing a payment or transfer at the receiving user’s disposal and as a reference point for interest calculations.
| Date | What it records |
|---|---|
| Creation date | Instruction entered |
| Authorization date | Business approval completed |
| Execution date | Provider acts on the instruction |
| Value date | Funds or entries take effect under the arrangement |
| Credit date | Recipient account is credited |
One payment can carry several dates
Cut-off times, banking days, currency-market hours, compliance review and intermediary routing can move an execution or value date. Time zones matter too: a payer and Recipient can observe different calendar dates for the same event.
What to record
Store the date label supplied by the provider rather than replacing it with a generic “payment date.” If an invoice depends on receipt by a deadline, confirm which date the contract uses and obtain suitable evidence.
For international vendor payments, record the date label as well as the date. A value date shown in Quotable Payments or a bank record should not be relabelled as the Recipient credit date without supporting evidence.
