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To: Erik T who wrote (10331)	9/19/1999 8:06:00 PM
From: g_m10	Respond to of 20297

Just wanted to add to the confusion about float. I can use money from my checking account the very same moment I drop the check in the ATM. As an example, I can have $1000 on my account, drop $1000 check in ATM, and 10 min later transfer on my computer $1500 to my Visa account with another bank. I did it many times and my current balance never showed overdraft. I do have $2000 overdraft protection on that account. It looks like that, at least for some banks, the issue is the security not the use of float. Another example. Once I took $8,000 money order to the branch. The teller asked me why I did not use ATM. I said that I might need to use the money on the very same day and ATM would treat my money order as a regular check. The teller checked on the screen and said that it did not say to put my checks on hold, so I would be able to use the whole amount right away even if I used ATM. I guess the reason for that was the fact that my bank was the parent company to my broker and the teller had the full balance on the screen. So, again the bank would feel secure giving me an amount that would much exceed the balance + overdraft protection on my checking account. To additional facts might've played the role, I've been with this bank for six years and never brought them a check that would later come back as NSF. It feels as if the whole float issue is blown out of propotion. It is mostly about security, not about scalping the interest on the float. Does it help with the confusion? <G> JMHO.