Book transfer definition
/What is a Book Transfer?
A book transfer is the transfer of the legal right of ownership of an asset , without physically shifting the asset to the new owner. The most common use of the concept is when a bank transfers funds from the account of the payer to the account of the payee when both accounts are with the same bank. Another example is when the owner of a checking account moves funds from that account to a savings account at the same bank. This results in the very fast clearing of funds, so that the payee can use the transferred cash almost immediately.