The term "same-day funds" refers to money that can be transferred or withdrawn the same day it is deposited into the recipient's bank account. Same-day funds are subject to the net settlement of accounts between the banks that present and remit the funds. Many customer deposits are not same-day funds and are not available for withdrawal for one to two business days.

Same Day Funds are processed during business hours on the same day as the application. Same Day Funds are paid on approval, and depending on who you bank with; you will receive the money on the same day. The Same day fund service mainly benefits customers who bank with one of the major banks. Most major banks advise that crediting incoming funds to a customer's account can take 2 – 4 business hours. However, you must also remember that banks process incoming transactions up to certain cut-off times. So to get your funds on the same day, make sure you are approved early!