Monday, December 12, 2011

What is the difference between an Available Balance and a Bank Balance in a checking account?

Available balance means: Money you can spend


Bank Balance means: What the bank currently shows as your balance, but checks or deposits may have not cleared.|||bank balance minus checks written and deposits not posted gives you available balance!!!!|||available is what they will let u take out like cash deposited. that clears right through. checks from other states countries etc take about 3 days. money orders sane thing cashiers checks same thing same thing with checks from a credit union. the only thing as avail. is usually cash walked into a bank and deposited with a teller, if it's before 3. after that it is considered nbd, the nest business day. if u use an atm even if its cash u can deposit 1000.00 it will only let u take out 100.00. unless u already have a balance previous to the deposit thay u just made. purchases r different then withdrawals. its usually a set amount in ts stated depending on how much u want your limit set or they usually set one up for u. i think they go by how much u usually have as a balance generally. they kinda eye ball it. if u have direct deposit every week thay usually give u more leed way then some one who keeps a balance of like 20 bucks or so becouse they know u r good for because that check is coming in at the end of the week. i worked in the bank for 14 yrs. about ten yrs ago. but things always change.

No comments:

Post a Comment