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Do You Know What Is ‘availability Float'? |
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Answer» Availability Float is a time difference between DEPOSITS made, and the funds are actually available in the ACCOUNT. It is time to PROCESS a physical cheque into your account. For example, you have $20,000 already in your account and a cheque of another $10,000 DOLLAR is deposited in your account but your account will show balance of $20,000 instead of $30,000 till your $10,000 dollar cheque is cleared this PROCESSING time is known as availability float. Availability Float is a time difference between deposits made, and the funds are actually available in the account. It is time to process a physical cheque into your account. For example, you have $20,000 already in your account and a cheque of another $10,000 dollar is deposited in your account but your account will show balance of $20,000 instead of $30,000 till your $10,000 dollar cheque is cleared this processing time is known as availability float. |
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