float time

Definition

Amount of time between an individual submitting a payment via check and the time that individual's bank gets the approval to move funds from the individual's account. At present, the majority of checks are usually cleared within one business day.

Use float time in a sentence

The float time seemed like the longest two days of the entrepreneur's life as this was his first major deal.

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I wondered what the float time was because it would be important to us and how our company functioned in the future.

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Now that so many companies were being paid online, Stewart found himself with a lot less float time to make sure he had enough money in his account once he had made a payment.

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