Bank Float
Definition
The gap between when a payment is recorded and when the funds actually clear and become available. Float affects how a business reads its real, usable cash position.
Related Terms in Banking & Payments
Positive Pay
A bank fraud-prevention service that matches cheques presented for payment against a list the company provides, flagging any that do not match before they are honoured.
Plaid
A financial technology company that connects applications to bank accounts. HelloBooks uses Plaid to provide live bank feeds from 11,000+ US financial institutions for automatic transaction import and categorization.
Stripe Connect
Stripe's platform for marketplace and SaaS payments. HelloBooks uses Stripe Connect to enable invoice payment links — customers click "Pay Now" and pay via credit card, with funds going directly to the business's Stripe account.
Razorpay
India's leading payment gateway for online payments. HelloBooks integrates with Razorpay via OAuth to enable UPI, card, net banking, and wallet payments on invoices for Indian businesses.
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