Spending by clubs in England still has some way to go on deadline day if it is to surpass the record figure of the last summer transfer window.
Going in to the last week of this window, £680m had been spent, still some way short of 2014's £835m.
However, the 2015 figure is 4% higher than at the same point last year, according to finance experts Deloitte.
And with some big deals reportedly in the pipeline before Tuesday's deadline, clubs could set a new benchmark.
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When does the window shut?
In England, the transfer window for both the Premier League and Football League closes at 18:00 BST on 1 September.
Six hours later, at midnight, the window in Scotland will close.
The deadline was shifted from 31 August as Premier League rules prevent it from falling on a Bank Holiday.
But as Champions League squads must be submitted to Uefa by 23:00 BST on 1 September, the Premier League has decided on a 18:00 BST deadline.
The windows for most of Europe's top leagues close on 31 August, including Germany (18:00 BST), Italy (23:00) and France, Spain and the Netherlands (all at midnight).
The passing of deadlines only affects the purchasing of players, meaning English sides can still buy from clubs in other countries until the window shuts in England.
Where can you follow deadline day on the BBC?
Follow our live text commentary from 07:00 BST on your computer, tablet or phone via the BBC Sport website or app all the way through to the bitter end.
We will bring you the latest news, views, speculation and done deals from our reporters around the country and worldwide, while you have the chance to interact and get involved.
Our transfers page captures every move, while each club page will be updated with the latest transfer stories.
You will be able to follow all the deadline-day deals via the @bbcsport account on Twitter and share your views using #bbcfootball.
There will be regular transfer updates on the BBC's national and regional radio stations.
On BBC Radio 5 live, Mark Chapman will host a special programme during 5 live Drive from 1730-1815 BST as the window draws to a close.
There will then be a deadline-day edition of 5 live Sport from 19:00 to 21:30 BST. You can also watch the action from the studio on the BBC Red Button.
Chapman will be joined by former England internationals Paul Ince, Martin Keown and Danny Murphy.
Former Tottenham manager David Pleat, 5 live's Ian Dennis and Times journalist Rory Smith will also have their say on the winners and losers of deadline day.
Dan Walker will host Football Focus on BBC Two from 17:15-18:00 (which will continue on the Red Button until 18:15). His guests will be former England internationals Murphy and Keown and football writer Henry Winter.
Winter will also be a guest on a special edition of Sportsday on the BBC News Channel from 18:30-19:00, along with Ince.
And don't forget...
You can read the latest news, listen to 5 live and watch the TV coverage via the BBC Sport app on your smartphone or tablet.
What big deals have been done so far?
Kevin de Bruyne's move to Manchester City from Wolfsburg for a club-record fee understood to be £55m has been the biggest deal, in monetary terms, eclipsing the £44m they spent to recruit Raheem Sterling from Liverpool. Those deals are among seven summer signings by City, including Fabian Delph,Patrick Roberts and Nicolas Otamendi.
Manchester United have also been busy, spending £83m to bring in Memphis Depay,Matteo Darmian,Bastian Schweinsteiger and Morgan Schneiderlin, while Chelsea have left it late in the window to conduct their serious business, signing Pedro and Baba Rahman.
Newly promoted Watford have been the busiest so far, signing 12 players, although clubs across the Premier League have ensured their finance departments remained busy throughout the summer.
What deals could be done before the window shuts?
Chelsea could continue their late-window spree by signing Everton's England defender John Stones, who handed in a transfer request last week.
The Blues have already seen bids of £20m, £26m and £30m rejected by the Toffees, who are adamant the player is not for sale.
Another player who has asked to leave his current club is West Brom's Saido Berahino, with the Baggies' resolve to keep the England Under-21 striker having already been tested by two bids from Tottenham, worth £18m and £22m.
However, Spurs have since signed South Korea international Son Heung-min, which could signal an end to their pursuit of the Baggies forward.
Manchester United boss Louis van Gaal has hinted at a "surprise" signing, with a forward likely to be high on his shopping list, while West Brom's Tony Pulis has big plans, although this could depend on Berahino's departure.
With the Premier League TV rights deal increasing from £3.018bn to £5.136bn for three seasons from the 2016-17 season, clubs have more spending power than ever before and an even greater reason to ensure they remain in the top flight.