having a hard time understanding avalable balance VS current balance..?

Question

i have a bbt checking account, with online banking.. My current balaance is higher than the avalable balance.. There are many transactions that haven't showed up on the actual statement.. So is that why the available balance is smaller? B/c the purchases have already been deducted, just not shown yet??

if the checks are waiting to be cleared, does the bank hold a dollar, or the full amount

Answer 1

Available balance doesn't include "pending" transactions.

Your actual balance would include the check you just deposited that has a 7 day hold. The available balance would not include that check.

Answer 2

You definately have the right idea, the difference between your current and available balance is that every time you use your check card and run it as "credit" the place of sale will put that amount on hold until they clear it out of your account. My personal opinion is that it's stupid they it's done this way, but that's what we have to deal with until things change. Like someone else mentioned, many gas stations will put just a dollar on hold until they take the actual amount out. My suggestion is even if you are using just your debit card keep track of your balance yourself and only go by what it says is available that way you don't overdraft.

Answer 3

If things are pending that will happen. Also If you have recently put in an ATM deposit you will only be allowed to use a certain amount of the deposit until it clears. Once everything is cleared then your available balance and your balance will be the same.

Some check card purchases and ATM purchases will pend a different amount them what you spent ( for example Gas stations will sometimes pend 1 dollar)

Answer 4

The actual balance is the real cash balance you have with the bank and the available balance is the balance that the bank will allow you to withdraw without closing your account.

Answer 5

Available Balance= Money you can spend
Current Balance= Money in the account without pending payments deducted

Banks do this so you will not think that you have more money in your account even when there are payments pending against your account. This is really nice since it helps you not to overdraw your account.

Answer 6

Probably the bank has a hold on checks waiting to clear.