1. Financial Term: In finance, a float refers to money within the banking system that is briefly counted twice due to time gaps in registering a deposit or withdrawal. This occurs because of the delay in processing paper checks. When a check is deposited, the bank credits the customer's account, but the check may take some time to clear the account it was drawn on.1 During this time, the amount of the check exists in both the recipient's and payer's banks' accounts.1 The float can be categorized into two types: holdover float and transportation float.1