Business and Personal Finance Dictionary

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• PAYEE PROCESSING FLOAT
  
  Time between when a payment is received and when the funds are deposited. When employees hold their paychecks over a weekend and when vendors process receipts only once a week, the payor benefits from the extra time its investments earn interest. These beneficial payee processing delays are limited to payments by check. Electronic payments (wire transfers and ACH credits) produce no processing delay at all.
  
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