Why is my account balance different from my available balance?

i deposited 142 dollars inot my account and then on my receit it says account balance 146.50 but available balance is 104 27...


did they steal my money? its bank of amertica by the way and the onlky pending charge i have is 3 dollars from itunes|||I never, ever, ever, ever look at my available balance. If its not current or collected, I don't take it out.





Never look at available balance!!!!!!!! That's how banks make money.


/|||Could be a few things... but no, they didn't steal your money.





It takes a few days for money to clear when you deposit it. For example... if I had $50 in my account, and I deposited $150, by balance would be $200, but my AVAILABLE balance would still be $50 until the deposit clears. There's reasons for this, but I think that's a whole other discussion.





OR... you bank policy may let a certain portion of your deposit available immediately, which looks like what's going on here. I'm guessing you had $4 and change in your account before the deposit... you deposited the $142, bringing your balance up to $146, but your bank is only allowing $100 of your deposit available immediately. It's actually a convenience they're giving you... they could have just not made any of it available until the deposit cleared.|||If you deposited through the ATM, then usually the bank put the funds on hold until they can verify that you actually made a deposit for the amount you stated. This prevents ATM Fraud from occurring and people saying deposited money when they actually did not.





Given the figures you stated, it is also probably that you account was negative for some reason. Maybe you did not have enough funds to cover the charge from iTunes and B of A could have charged you a Non-Sufficient Funds (NSF) Fee. You would have to go into the bank and speak with them. It is probably one of these two situations.





Bank of American could be stealing money in the amount of fees they charge. I would suggest banking at a Credit Union as they usually have a lot lower fee and interest charges. I hope this helps.





If you would like to read more about money or life, check out my blog at http://www.StoppingYou.com/blog/|||it's because your account required a minimun balance.that means if you take more than that amount they can charge you a finance fee|||Why do people ask these questions here instead of at the bank?