What Is 'availability Float'?

1.	What Is 'availability Float'?
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.

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.

What Is 'availability Float'?

Discussion

No Comment Found

Related InterviewSolutions

Reply to Comment