administrative float

administrative float
Float resulting from the time it takes to administratively process checks or other related paperwork. Total elapsed time for processing checks can range from less than a day to more than a week. Note that its basic elements are present whether the work is done by the owner of the funds or the work is done by a bank or other lockbox vendor. Sometimes referred to as payment processing float or internal float, but since some of the sources of the float delay are not necessarily internal, the term internal float is not a completely accurate synonym. American Banker Glossary

Financial and business terms. 2012.

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  • internal float — Elapsed time for processing checks. Also called administrative float or processing float. American Banker Glossary …   Financial and business terms

  • payment processing float — See administrative float. American Banker Glossary …   Financial and business terms

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