TransCentra said its private label lockbox service will deliver faster processing times, reduced
mail float and a host of new processing capabilities to Associated's commercial clients.
Fund supermarket Hargreaves Lansdown said the Royal
Mail float helped it attract a record number of new investors as Britons scrambled to take part in the UK's biggest state sell-off for decades.
SourceHOV will retrieve business-to-business payments at post office locations across the country and will image them for processing at Fifth Third Bank's Cincinnati processing hub, reducing
mail float delays.
Some of the factors involved in the amount of time it takes a check payment to translate into useable cash is the
mail float, the processing float getting it through company channels and the check float from the depository bank to its final availability.
Lockbox processing reduces
mail float because the provider sends couriers to collect the remittances from the post office box on a more frequent and timely basis than the government itself.
Those issues include the extent to which a respondent's [TABULAR DATA FOR TABLE 1 OMITTED] [TABULAR DATA FOR TABLE 2 OMITTED] organization has already invested in electronic payment technology and the degree to which
mail float times provide additional cash-management opportunities.
Non-Value-Added Activities Eliminated -- Mail opening, data entry, filing of invoices, voucher payment preparation, follow-up of uninvoiced receipts (lost invoices),
mail float, cycle time, microfilming, cost of matching invoice to receipt, and the cost of mailing are eliminated.
Mail float is not included in any sector, but the Fed (1971, p.
Unless customers change their payment processing strategies to account for the increase in
mail float, which is unlikely to happen, payments will be received later than ever, including discount payments.
Investec economist Philip Shaw said that, although forecasts for the overall economy were revised downwards, large profits made by investors in the Royal
Mail float could have a positive impact, potentially adding 0.
In a statement, the government said that the Royal
Mail float would take place in the coming weeks .
Disbursers and banks benefit from check float in three distinct cycles:
mail float, the cycle where the check is in transit to collector (in transactions where presentation is not at POS); processing float, the cycle where the check is being processed by the collector and by the collector's bank; and clearing float, the cycle where the check is being moved from depository to paying bank for final settlement and funds release.
