N.Y. U.C.C. 4-a-401

Section 4-A-401. Payment Date.\n "Payment date" of a payment order means the day on which the amount of\nthe order is payable to the beneficiary by the beneficiary's bank. The\npayment date may be determined by instruction of the sender but cannot\nbe earlier than the day the order is received by the beneficiary's bank\nand, unless otherwise determined, is the day the order is received by\nthe beneficiary's bank.\n