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DEFINITION of Processing Date A processing date is the date (month, day and year) when a merchant's bank processes a credit or debit card transaction that has been authorized between a merchant and a customer.

Processing Bank means, with respect to any Receivable, a bank that has been engaged by the Servicer to collect Credit Card Payments from the related Processor and to remit such funds to the applicable Receivables Obligor's Transfer Accounts.

Banks may process transactions on a certain day but pre-date (or backdate) to previous days. There are two types of transaction dates: Processing date – the day on which a transaction is processed against an account. Value date – the date that the funds are meant to be made available to the beneficiary.

This date will change each time an account is updated to reflect the current account balance on a specific day. The IRS uses the 'As Of' date to keep taxpayers informed about any outstanding debts or accrued interests their accounts might have.

If the bank says a transaction has been processed, that can mean that it has been authorized and authenticated but not yet settled - meaning, the seller may not see the funds in their account yet.

What is payment processing? Payment processing is the series of actions that occur when digital payment transactions are initiated by a business. This includes everything from processing a card and opening secure gateways to communicating with issuing banks and consumer accounts.

Request and Response Dates The Request date shows the date you requested your transcripts and the response date shows when they actually responded to send your transcripts via mail, fax, or view online (fax and online will always have the same date as the requested date).

The reason that the 'as of' date on your 2022 account transcript is that it allows the IRS sufficient time to process all of the updated account information as well as gives the taxpayer the opportunity to submit a payment for the money they owe by mailing a check or making an online deposit.

DEFINITION of Processing Date A processing date is the date (month, day and year) when a merchant's bank processes a credit or debit card transaction that has been authorized between a merchant and a customer.

Processing Bank means, with respect to any Receivable, a bank that has been engaged by the Servicer to collect Credit Card Payments from the related Processor and to remit such funds to the applicable Receivables Obligor's Transfer Accounts.

Banks may process transactions on a certain day but pre-date (or backdate) to previous days. There are two types of transaction dates: Processing date – the day on which a transaction is processed against an account. Value date – the date that the funds are meant to be made available to the beneficiary.

This date will change each time an account is updated to reflect the current account balance on a specific day. The IRS uses the 'As Of' date to keep taxpayers informed about any outstanding debts or accrued interests their accounts might have.

If the bank says a transaction has been processed, that can mean that it has been authorized and authenticated but not yet settled - meaning, the seller may not see the funds in their account yet.

What is payment processing? Payment processing is the series of actions that occur when digital payment transactions are initiated by a business. This includes everything from processing a card and opening secure gateways to communicating with issuing banks and consumer accounts.

Request and Response Dates The Request date shows the date you requested your transcripts and the response date shows when they actually responded to send your transcripts via mail, fax, or view online (fax and online will always have the same date as the requested date).

The reason that the 'as of' date on your 2022 account transcript is that it allows the IRS sufficient time to process all of the updated account information as well as gives the taxpayer the opportunity to submit a payment for the money they owe by mailing a check or making an online deposit.