Your available balance is your current balance minus any holds or debits that haven't yet been posted to the account. If you have no holds or pending transactions, the two balances are likely the same.
Credit and debit cards: 1-2 business days. Check deposit: 1-2 business days.
Your present account balance (sometimes called the current balance) shows how much money is currently in your bank account—but it doesn't consider pending transactions, which can take up to three business days to clear. That means your present balance will probably run higher than your available balance.
Here's what they mean: 'Balance' shows how much money is actually in your account. 'Available' shows how much money you're allowed to use.
Notice a difference between your account balance and your available funds? It may be because of a pending transaction. Some payments, cash withdrawals or deposits appear as pending on your account until a transaction is fully processed.
In a checking account, the available balance is the amount of money that the account holder can withdraw immediately. The current balance, by contrast, includes any pending transactions that have not yet been cleared. The bank will honor any withdrawal or payment you make up to the available balance amount.
Some financial institutions will add the deposit to your available balance but will not add it to the current balance until they verify the check is good and receives funds from the issuing bank. The other reason could be that you have an overdraft protection line of credit from your financial institution.
It is the difference between your credit limit (the total max amount you can charge on the card) and your current balance. As you make purchases using your card, the cost of each purchase is subtracted from your credit limit. The amount you're left with is known as your available credit.
The available balance for your account may differ from the current balance because of pending transactions that have been presented against the account, but have not yet been processed. Once processed, the transactions are reflected in the current balance and show in the account history.
Scammers can't access your bank account with just your bank account number; however, they can set up direct debits or transfers via EFTs.
Your available balance is the actual amount of funds available for you to spend. Your latest balance includes any outstanding authorisations that are reserved by a merchant. For example, your latest credit card balance may be R1 500, but your available balance may only be R1 000.
You could have any pending transactions that may be affecting the current balance. There can be deposits, transfers and more which might be pending. Check all the recent transactions from your account to see if there are no unauthorised transactions.
The current balance is all the money that is in your bank account right now. This balance might include pending transactions, like a credit card payment or a check that hasn't cleared. If there hasn't been any activity on your account in at least a week, your current balance might be the same as your available balance.
A pending transaction can place a hold on your account balance and count toward your credit limit until it is processed. That doesn't necessarily mean you can't use your credit card or bank account. But it can affect your available balance—or the funds you're able to access.
Put simply, your current balance in a checking account is your total amount, why may include pending transactions, while your available balance specifies the actual amount you can withdraw at that point in time. In other words, your bank will allow withdrawals up to your available balance.
'Balance' is the amount of money in your account before all pending transactions have been processed. 'Available' is the amount that you can spend today, and is a more accurate reflection of how much you can spend at that time.
There are some differences around how the various data elements on a credit report factor into the score calculations. Although credit scoring models vary, generally, credit scores from 660 to 724 are considered good; 725 to 759 are considered very good; and 760 and up are considered excellent.
So, what's the difference? Your statement balance typically shows what you owe on your credit card at the end of your last billing cycle. Your current balance, however, will typically reflect the total amount that you owe at any given moment.
Your current balance is the total of all the posted transactions as of the previous business day. Your available credit is figured by subtracting your current balance (or amount already used) from your credit limit and adding any outstanding charges that have not posted yet.
The available balance is the amount of funds you currently have available to use. While a transaction is pending, the amount is deducted from your available funds. The account balance is the total amount you have in your account that includes any pending transactions or other amounts yet to clear (e.g. cheques).
The current balance listed in your account includes any transactions that are pending but have not yet cleared. As such, the current balance might be listed as higher than the available balance — in other words, the current balance can be an amount that's greater than what you're able to withdraw from the account.
Your available balance is the total amount of money in your account that you can use for purchases and withdrawals, as it excludes pending transactions and check holds from your account balance. However, the available balance will not show checks that haven't been cashed or deposits which haven't posted.
For example, if you have a $50 actual balance, but you just wrote a check for $40, then your actual balance is $50 but is does not reflect the pending check transaction. So, at that point, you actually have $50 but you have already spent $40 leaving an available balance of $10.
You can usually find your closing balance listed at the top of your bank statements, letting you know how much money you have available. One of the reasons this closing balance might be different to a closing balance in accounting has to do with outstanding transactions.