Business Day

You’ve seen the notice on a credit card or bank statement that says deposits or payments made after 3 P.M. will be reflected on the next business day. So it’s important to define what exactly a business day is, with all the different time zones in the U.S.

Typically, business days are Monday through Friday, ranging from 8 a.m. through 5 p.m. in a particular time zone, excluding weekends and holidays.

So if FedEx says they will deliver your bed-in-a-box within two business days, and it is shipped out on a Thursday...you will be sleeping on the floor until Monday.

And since foreign exchange markets operate 24 hours a day, the dealer will set a specific time to be the end of the current trading day. With flex time and the Internet doing business 24/7, a typical business day hardly exists unless a specific date is needed for legal transactions.