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Float banking
FLOAT BANKING

Definition: Funds held while transfer instruments are being processed, e.g., by checks not yet cleared.
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* All six elements should be in.


1. Purposeful and necessary to keep funds.

2. Terms and conditions will be applicable.

3. Bank or financial institution is solid.

4. Made available once a clearance is done.

5. Serves purpose(s), exactly as wished for.

6. Appropriately stated in the account books.
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See perfect BANKING.

See perfect CLEARING HOUSE (1).

See perfect CHECKOFF.

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