Why does my available balance not match my current balance?

Why does my available balance not match my current balance?

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. The available balance also includes credit available if you have a line of credit linked to your checking account.

Why does my available balance Say 0?

If your available credit is $0 and you haven’t paid your credit card bill lately, you might have maxed out your credit card, and you’ll have to pay down the balance to free up more available credit.

Why can’t I access my available balance?

Funds can be unavailable to you because the bank knows that the money is already spoken for if you’ve scheduled an upcoming payment through your bank’s online bill pay feature. The same is true when you swipe your debit card. That money is typically deducted from your balance immediately.

Why is my available balance different from my current balance?

Your available balance is the amount of money in your account to which you have immediate access. Your available balance will be different from your current balance if we have placed a hold on your deposit or if an authorized credit or debit card transaction has not yet cleared.

What happens if you have 0 balance on debit card?

An overdraft occurs when there is a transaction against your account that takes the balance below zero. This happens when you have “overdraft coverage.” You have to opt in to overdraft coverage for ATM and debit card transactions, but your bank may provide the coverage automatically on other transactions.

Why is my available balance different from my cleared balance?

Why is my total balance and available balance different?

Your Total Balance is the total amount held in your account. Your Available Balance might be higher or lower than your Total Balance, as it accounts for pending transactions in your bank accounts that have not yet cleared.

Can I use my debit card with zero balance?

Can I Use My Debit Card if I Have No Money? If there’s no money in your bank account, your debit card may get declined when you attempt to pay. So make sure there’s cash in your bank account anytime you use your debit card.

What is the difference between latest balance and available balance?

Please be advised that the Available Balance is the amount of money in the account that can be spent. It takes into account all transactions effected on the account (Debits and Credits), on the other hand, the Latest Balance displays the balance of an account but excludes any unbanked/uncleared transactions.

Can debit card go below zero?

The bank holds onto the money for you and in some cases, might even pay you interest on the funds while they remain in the account. When you want to use the money, you can withdraw it in a number of ways. Your bank account balance can drop below zero if you withdraw or spend more money than you have in your account.

What is the current balance on your bank account?

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.

Why isn’t my available balance the same as my current balance?

There are a few reasons why your account’s available balance may not match up with its current balance, including: You may have transactions pending in the account. For example, if you have $500 in your account and swipe your debit card to buy a $10 lunch, the merchant won’t immediately remove that money from your account.

Why do I have two different balances on my debit card?

If you have no holds or pending transactions, the two balances are likely the same. But if you use your debit card regularly or you recently deposited a large check, the two balances may be different. You’ll probably be able to tell what your current balance is simply by checking your online account through your web browser or mobile app.

Why is there a low available balance on my account?

This generally happens for two reasons, resulting in a low available balance: You’ve made deposits that haven’t cleared and been credited to your account yet. There are pending withdrawals or authorizations against your account. Your bank might not allow you to use the money immediately when you deposit checks into your account.