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Let's say my due date is on 15 of every month and the bank summarize my spending I made on 1 of everyone. For example, I have to pay all expense I made from January 2, 2012 to February 1 2012 on February 15, 2012.

I have two questions here:

  1. What to call the day that the back summarize a monthly payment, February 1 in this example?
  2. Is there another word to call due date, February 15 in this case?
2
  • Do you mean February 15th?
    – Jim
    Dec 17, 2012 at 3:49
  • Depending on various factors, banking industry defines various terms applicable to operations. It is not general English language, not even jargon as such, but a glossary specific to a domain. Voting to close as too localized.
    – Kris
    Dec 17, 2012 at 5:51

2 Answers 2

4

I believe you'd call February 1 the last day of the billing cycle. From ehow.com:

Billing Cycle Date Versus Due Date
There is a difference between the billing cycle and the bill's due date. The billing cycle dictates which charges will appear on the actual billing statement. For instance, if your billing cycle is from September 7th to October 7th, charges made after October 7th will not appear on your upcoming bill. Once your billing cycle closes, the creditor will mail you the bill. The bill must be mailed to you no less than 21 days from the date your payment is due. The bill's due date will appear on the actual billing statement.

2

January 2nd to February 1st is called the "billing period". February 1st would be called the "cut-off date", the "closing date", or sometimes the "billing period end date".

February 15th is most commonly called the "due date" or "payment date". If you search for any of these terms, you should be able to find more information or definitions easily.

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