Sunday, December 4, 2011

Why is my posted balance higher than my available balance in the bank?

My husband deposited a local check on Friday. It's currently being used on the right side of the screen where things are deducted (like check card purchases and checks), But my available balance is what the balance would be if he didn't deposit the check. Does this mean it didn't clear yet? i've never been so confused!|||The check has not cleared yet. Since it was deposited Friday, the earliest that it will clear will be this Wednesday, depending on how your bank processes transactions.|||Yes, it has been posted, but funds are not ready to be used yet.|||It's likely been put on hold for 5 business days, waiting for the cheque to clear. It means that while the funds are in your account, the amount of the cheque is on hold, and so you aren't able to access those funds.





Once the cheque clears, in five business days, the hold should be released and you will have access to those funds.





If you have the stub for the cheque, you might want to go into your local bank branch and see if they will remove the hold for you. They normally won't, but you may as well try if you need the funds desperately.|||It is a pending transaction and usually is in the available balane the following business day unless it is an out of state check.

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