Is Your Available Balance Your Actual Balance?

Why is my current balance lower than my available balance?

The available balance for your account may differ from the current balance because of pending transactions that have been presented against the account, but have not yet been processed.

The available balance also includes credit available if you have a line of credit linked to your checking account..

What is the actual balance in my checking account?

Your ACTUAL balance is the amount of money that is actually in your account at any given time. It reflects transactions that have “posted” to your account, but not transactions that have been authorized and are pending.

Why is my available balance 0?

If you swipe your card for more than what is in your account, the available balance will be $0 (which actually means less than 0). … Until the the actual purchase comes through, your checking balance will be $100.00, but your available balance will be -$10.00 (or zero since there are now no funds available.)

What is the meaning of current balance and available balance?

The current balance is the total amount of funds in your account. The available balance is your current balance less any outstanding holds or debits that have not yet posted to your account.

Can I spend the money in my current balance?

In those cases, you can only spend your available balance (or less if you have outstanding checks), and the rest of the money is being held by your financial institution. Current balances include all of your money, including all available funds PLUS funds that are being held. … Your current balance is still $50.

How long until current balance becomes available?

two daysFunds Availability Depending on the amount of the check, you may have access to the full amount in two days. Some banks make a portion of the check available immediately or within one business day.

What does it mean when it says current balance and available balance?

Current Balance is the outstanding balance of your Cash in Bank. This is the balance after all deposits and withdrawals, bank charges and other banking transactions have been taken into consideration. Available Balance, on the other hand, refers to the portion of the current balance which are available for withdrawal.

Can I use my available balance if I still have money pending?

Every deposit must be verified and authorized before it becomes available for use. Therefore, when a deposit is pending, you cannot use any of the money. Only when a pending deposit is approved and added to your ‘available balance’ does it become accessible.

What’s the difference between available and current balance?

What is the difference between the current balance and the available balance for my deposit accounts? The current balance is the total amount of funds in your account. The available balance is your current balance less any outstanding holds or debits that have not yet posted to your account.

What is the difference between current balance and available balance debit card?

Current Balance is the outstanding balance of your Cash in Bank. This is the balance after all deposits and withdrawals, bank charges and other banking transactions have been taken into consideration. Available Balance, on the other hand, refers to the portion of the current balance which are available for withdrawal.

Can I spend a pending deposit?

Every deposit must be verified and authorized before it becomes available for use. Therefore, when a deposit is pending, you cannot use any of the money. Only when a pending deposit is approved and added to your ‘available balance’ does it become accessible.