Sunday, December 4, 2011

What does current balance and available balance mean?

My current balance is more than the available balance in my bank account. Why is that? What is the difference? Ive only noticed this since I've started to do online banking.|||It takes time for some checks to clear, out of state, for instance, so even though they are part of the "Current Balance" they are not "Available". Once they clear the system, they are then available.



"since I've started to do online banking.'



Also, if you are paying bills online, many have to be paid by a physical check so the bank will print and mail a check for you. However, the funds are not deducted from the balance until the check clears your bank. So if you've paid a bill for $100 and it was paid by check, then the available balance may be reduced by that $100 to help you keep from overdrafting.|||Current amount is how much money you've put into the bank,





Available balance is how much you can spend (you'll have to pay the bank back whatever you go over)|||Current balance is your total balance which includes COT or minimum balance as the case may be while available balance is the amount that is available ie that you can send if you choose to.

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