How do you read this statement

Strictly speaking it should mean that as soon as it becomes the 1st, you should no longer be able to deposit. A lot of times when people say this they include the "until" date as well but I always assume the former just to be on the safe side.
 
It is quite clear.

until
preposition & conjunction
up to (the point in time or the event mentioned)

So, not on the 1st

Thanks so thats quite a good clear definition.
So the word is quite clear, although I guess a little misleading when its not a specific point in time or event.

So the general usage of the word until is misrepresented I guess is the conclusion.
 
It's pretty ambiguous but at least it's not the American way of saying something is valid from Sep 22 through Sep 30, for example :p

(I even wrote the date the wrong way round to wind everyone up :o)
 
"upto and including 1st, Sept 2016" - inclusive of the 1st
"until 1st Sept 2016" - up to 23:59 on 31st Aug
"until, but not limited to, 1st Sept 2016" - up to 23:59 on 31st Aug
"until, but not including, 1st Sept 2016" - up to 23:59 on 31st Aug


That's my take on it.
 
Sensible ranges are half open. Inclusive at the left/start/0 and exclusive at the right/end/N.

Since your date is the closing end, it should be exclusive.

Any other choice makes the maths harder :)
 
Any time I've ever queried a statement like this (eg. offers etc.), it's ended up being inclusive of the final date.

Yep I agree and that's pretty much what I think the crux is.
I believe in normal use its used to include the day not exclude.

Eg (I know I know) the Wikipedia for Tony Blair

"an office which he held until 27 May 2015"
So this would indicate his last day was the 26th of May or the 27th of May?

Would seem to indicate his last day "
Special Envoy of the Quartet
on the Middle East

In office
27 June 2007 – 27 May 2015"

The beauty of the English language and its usage :)
 
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