Payment float

(redirected from Account Holds)

Payment float

Company-written checks that have not yet cleared.

Payment Float

A deposit into a bank account that has not yet cleared. For example, one may deposit a check for $1000 from an out-of-state bank. The funds may be posted to the account immediately, but they will not become available to the account holder until the issuing bank honors the check and transfers the funds to the receiving bank. This process can take as long as five business days. See also: Check Hold.
References in periodicals archive ?
Her retirement account holds the AIM Aggressive Growth Fund (AGAAX), valued at $14,000.
In this account structure, each sub-custody account holds margin assets for a single market participant only, which provides a high level of market participant protection.