Sunday, December 4, 2011

What's the difference between "available balance" and "running balance"?

on my bank account, my "running balance" is $6, but my "available balance" is $160. my check was direct deposited last night at midnight. So the $160 is the correct amount, but if i make a purchase for $10, will my account be overdrawn because my "running balance" is only $6?|||You won't be overdrawn. It's similar to Memo Posting. Your deposit will post, it will be fine =)|||A cheque usually takes about 3 working days to clear. If you make a purchase by credit, it probably decrease your available balance before your running balance so I would say no you would not be overdrawn or for very long until the cheque clears.

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