What does it mean if my "current balance" is lower than my "available balance" in my checking account?

Answer 1

"Available" balance is what the bank can release to you and that amount which is not restricted for some reason..i.e. uncollected funds, etc.

Answer 2

A pending transaction. If you've used your debit card, the bank usually knows about it right away. They won't let you overspend if they can help it, so they update your current balance with every purchase they're told about but they only update your available balance once during the day.

Answer 3

There are at least 2 reasons.
1. the deposit that hasn't cleared (mentioned above)
2. on your debit card, If you use it as a debit card and enter a pin, the amount is deducted right away, but if you use it as a credit card, that is you sign it, then the bank knows about it but doesn't deduct it for a day or two probably for the merchant to deposit the transaction.

If you haven't made a deposit recently, the difference between the two balance numbers should total one or more recent purchaces.

Answer 4

you probably have an automatic line of credit through your financial institution allowing you to write checks or use debit up to a certain amount over what you have available in the bank.

My bank gave me a $200 line of credit which is charged interest and added to my visa account, (without my knowledge, or I just wasn't paying attention) Sometimes it is called overdraft protection. I had the service removed to prevent me from taking advantage of what seemed like free money!

Answer 5

It could meen you have an overdraft available. So if you have say $200 in your account and an overdraft of $500 your available balance would be $700.00

Answer 6

You probably have a line of credit, and can borrow the remainder up to the available balance.

Answer 7

Did you make a Debit or check transaction that is still pending? This is usually the cause of this. If you don't recognize the transaction I would call the bank.

Answer 8

it usually means you have made a deposit and the deposit has not cleared yet, although it shows up in your account.
Also, look on your bankcard or in your checkbook and there should be a toll free number you can call, follow the prompts and if you cannot figure it out, push zero for an operator to assist you.

Answer 9

current balance is your balance after all your purchases have cleared............available balance is how mych money you have left in the bank

Answer 10

Call the bank