Thursday, December 15, 2011

What is the difference between accoung balance and available balane?

The question is above and which balance do i go with?? Thanks for any help|||You go with the available balance.





Available is literally what is available to spend, account balance is the overall balance but the difference between the two is what is in the 'reserve', which is basically direct debits or card payments waiting to clear.





A bit confusing I know, so here's an example:





You have 拢500 in your account, you then spend 拢100 on your card in a shop. That 拢100 is then reserved until the payment clears, so if you were to go to an ATM it'd show:





Account balance: 500.00


Available balance: 400.00|||Your available balance is what you can actually withdrawl and spend. Your account balance is your balance pending any transactions like deposits or withdrawls from your account that have not cleared yet.

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