Check Float
Check float is the time between when a check is written and when it clears the payer's account. During this period, the payer's ledger balance may not yet reflect the debit.
Float can create timing differences between the payer's and payee's accounts. Banks monitor float periods to manage fraud and liquidity risk. Fraudsters exploit float for check kiting.
Related Terms
Check
A check (or cheque in British English) is a written order instructing a bank to pay a specific amoun...
Posting Date
Posting date is the date a transaction is recorded on your account ledger. It is the date used for s...
Cleared Transaction
A cleared transaction is a payment that has been fully processed and posted to the account. It is fi...
Available Balance
Available balance is the amount of money in an account that can be immediately withdrawn or used for...
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