A Same-Day Transaction is a financial transaction that is completed on the same day that it is initiated. This can refer to various types of transactions such as wire transfer, ACH, check deposit, etc. The funds are available on the same day the transactions are processed.For example, if you initiate a wire transfer on a Monday morning, the funds will be available in the recipient's account on the same Monday. In contrast, a standard wire transfer may take several business days to complete.Same-day transactions are typically more expensive than regular transactions due to the added cost of processing them quickly. Some financial institutions offer same-day transactions as a premium service to customers who are willing to pay a higher fee for the added convenience.In summary, Same-day transactions are fast and convenient way to move money but it could come with a cost and not all financial institutions offer the same-day service.
