Is your bank speeding money out of your checking account faster than you can put it in? Do you feel like someone just set your financial hamster wheel on fast-spin?- advertisement -
Welcome to the new reality of check “float” — or lack thereof. Float refers to the time it takes for money to leave your checking account.
If you’ve always paid your bills on time with money to spare, you may never have given float a second thought and probably haven’t noticed its disappearance.
But if you routinely pay bills a few days before payday hoping a paycheck will clear before creditors ask your bank for payment, you’ve probably discovered that playing the float game doesn’t work anymore.