I've never heard this expression. Is it a gambling term? Or maybe stockbroking?Perhaps "making money off the float" or "playing the float."
I've never heard this expression. Is it a gambling term? Or maybe stockbroking?
It's a banking term (or perhaps a criminal justice term applied to banking). The original meaning is quite specific and refers to certain illegal practices, but it's been extended a bit to refer to any form of financial arrangement in which the holder of someone elses's money is able to profit off the possession of it before turning the principle over to the rightful owner. Thus if you transfer funds to someone via a bank and the bank uses the money to engage in speculation with it before making it available to the recipient, the bank's action is sometimes (loosely) called "playing the float."
There's more info in the Wikipedia article on check-kiting.