What Does Available Balance Mean?

Question

My Available Balance is more than my current Balance what does that necessarily mean?

Answer 1

If you're talking about a credit card, then the available balance is the amount you have available for credit. The current balance is the amount you owe on what you have already purchased.

Answer 2

My available balance is usually less then my current balance. The reason being , the bank has been notified that a withdrawal is emminent within a few days. Therefore, a certain amount is kept in waiting, making the available balance available for you to use, but the rest is not. But, according to you, it is the other way around, so I have no idea what that means.

Answer 3

Available blance always means the amount that is available for you to withdraw/spend/write checks against at that particular point in time. Your actual balance (vs your available balance) may show as a higher amount if you hace recently made a deposit (suchas a check) that has not yet "cleared" (bank word for OK for you to use). Most banks don't even show cash deposits as "available" in your balance until the next business day....would love to see the logic behind that.

Answer 4

If you are referring to a checking account, the available balance is the actual checking account balance plus the amount in savings which is set aside as overdraft protection. The overdraft amount is the savings balance minus the minimum amount required to keep the account active.
For example:
Your checking account balance is $200
Your savings balance is $200
Your bank requires a minimum of $25 to keep the savings account active, so your available overdraft protection amount is $175.
Your available balance would be $375.

Answer 5

you can't take out more than you current balance unless you have an overdraft. Available balance is an amount that is set that you are allowed to take out on a daily basis and it doesn't change.

Answer 6

for a checking acct., the available balance may not include memo transactions. Memo transactions are those that may have been presented for payment, but not officially cleared the acct.

Answer 7

by no skill bypass through accessible once you're making a deposit. continuously bypass through the bottom stability. both present day or accrued. evaluate accessible a trick through banks to attempt to get you to overdraft. you need to attend on your deposit to fully sparkling till you could now use the money. this may take 3 to 5 corporation days (on occasion a lot less).

Answer 8

thats the funds available for withdrawl..it means either a check hasnt cleared yet or a deposit was made earlier than you thought.