Banks record transaction dates. A transaction date is a date upon which a trade takes place for a security or other financial instrument. The transaction date represents the time at which ownership officially transfers. In banking, the date a transaction appears in the account is also referred to as the transaction date, although it is not necessarily the date on which the bank clears the transaction and deposits or withdraws funds.
In the financial world, there are many different dates to be aware of as they play a different role in the ownership process. The date at which a trade occurs is always known as the transaction date. It is the date at which ownership changes hands.
