Because you have spent the money. The cycles of deposits and withdrawals from the actual bank aren't instant. Your available balance is the amount left after you consider all deposits and debits to that point that have been submitted.
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.
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.
If an ATM shows ``balance unavailable'' even though you have money in your account, it could be due to several reasons: Network Issues: The ATM may be experiencing connectivity problems with the bank's servers, preventing it from retrieving your account information.
Pending transactions that haven't posted to a credit card will further lower your available credit. For example, if your credit limit is $2,000 and you have a balance of $500, then you would have $1,500 of available credit. A pending transaction of $100 would reduce your available credit to $1,400.
The current balance of your bank account is the total amount of money in the account, while the available balance is the amount you can actually access and use. The available balance is important to track because it reflects the funds that you can withdraw and use, and may be less than the current balance.
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.
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.
Here are some common reasons the available and current balance are different: You made a debit card purchase that hasn't been fully processed by your bank. You wrote or deposited a check that hasn't cleared yet. You have an upcoming automatic payment that you pre-authorized for a recurring bill.
Cash and direct deposits are most often made available same day. Banks typically make most checks available within a couple days. Larger deposits over $5,000 usually take more time to clear. Your bank might also make a portion of it available sooner.
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.
Pending transactions can happen when the money needed for the transaction is still moving between accounts, like after using your credit, ATM or debit card to purchase gas at the pump, get cash or add a tip at a restaurant. In a bank account, pending transactions include: Cash, check and direct deposits.
Can I spend the money that's being held for a pending transaction? No, the funds are temporarily unavailable until the transaction clears. Spending them could result in overdrafts or declined transactions.
A hold prevents access to an account or restricts some transactions from occurring in the account. A deposit of a large check, an out-of-state check, or a foreign check may trigger an account hold. A hold may occur when there is suspicious activity detected on the account.
The primary difference between the current balance and available credit is that the current balance reflects the amount you currently owe, while the available credit represents how much credit you have left to use on your card.
The current balance on your bank account is the total amount of money in the account. But that doesn't mean it's all available to spend. Some of the funds included in your current balance may be from deposits you made or checks you wrote that haven't cleared yet, in which case they're not available for you to use.
What is a Zero Balance? The amount owed on a credit card account when it has been paid in full. The payment made completely wipes out the amount owed, sending the account balance to zero.
As the name of the account implies, this is a zero-balance account. Therefore, you don't have to maintain a minimum balance. Consequently, there is no penalty in the case of zero balance.
Use an ATM
Every ATM is slightly different but you simply insert your debit card, enter your PIN (personal identification number), select the account you wish to withdraw money from (if you have more than one), enter the amount, and then wait for the ATM to give you your cash and a receipt.
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.
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.
Occasionally, your deposit may not show up as planned because of a mix-up with the bank. You can look out for this by monitoring your account daily. When you deposit into your account, it should show up in your account history, even if the funds are not immediately available to you.
You can, but you have to be mindful about other financial transactions you have made. Your current balance reflects all your money, in addition to funds that are being held or are in transit, such as checks.
For Savings, Current Account and BDO Cash Card your available balance is real-time and will change throughout the day based on your activities. For Time Deposit and Consumer Loan Accounts, balances are based on the previous day's balances.