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Collection float |
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Collection float The period between the time is a check is deposited in an account and the time funds are made available. Collection float 1. Synonymous with shares outstanding. A collection float refers to the number of shares an issuing entity has not repurchased and that are available for trade by the general public. Sometimes simply known as float. 2. A deposit into a bank account that has not yet cleared. For example, one may deposit a check for $1,000 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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Automated lockbox services allow incoming payments to bypass the corporate back office and go directly to the bank, virtually eliminating mail handling and manual data entry, while enhancing collection float. Treasury management worked out the payment method, the ACH system, with the VAM card company to reduce the collection float for Susee Inc. |
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