Balance & Available Balance?

GhostDog_2

Ok I admit it.....I'm not sure of the difference here.

Banking online. Currently overdrawn.
Balance is presumably what is in bank now...?
Available balance is................?

OH told me Available Balance is what is left of unused overdraft....but those figures don't add up!

Am I being really thick here???? :cool::cool:

Sammie_03

I think your OH is right, available balance is what is left of your overdraft. If you have paid on your card for something but it hasn't come out of your account yet then that could be why your figures don't add up if that makes sense!! Xx

barbiedoll

How does it not add up? Your "balance" may not include any recent transactions, the "available balance" USUALLY means that's what is left to spend, including any pending transactions that may not show on the "balance"..... (but not always, do try to keep track of what you've spent, you don't want to go into an unauthorised overdraft! :eek:)

shortdog

Our bank works like (all examples)-
Total overdraft £500
balance £100 OD
Available £350
£50 missing is whats been spent on the debit card but hasn't come off the account yet.
HTH

19lottie82

Nope, avaliable balance is what you have avaliable to you at that moment in time.

let's say I put £100 in my account. I then use my debit card to buy a £30 pair of shoes.

Your bank acc should recognise straight away that £30 has been spent but it may take 2-3 days to get the full details and apply them to your acc. So your balance will be £100 until then, but your avaliable balance (ie the max u could withdraw from an atm) is still £70.

If you checked back once the payment had fully gone thru, it would have the full details fo the transaction and both amounts would be £70

FBaby

your balance is what you have on your account. If it is withdrawn then it will be a negative figure. Available balance is what you have considering your agreed overdraft.

Ex:
your balance is -£200 but if you have an overdraft of £2000, your available balance is £1,800.

maman

I always think this way of showing balances is a bit of a con, encouraging you to spend money you haven't got. The topline figure always looks as if you have more money than you really have. The available balance includes any overdraft facility which is available but at a price!

The only reason I can think of for the numbers not adding is if you've paid a cheque in that hasn't cleared yet. It might show as paid in on the transactions but isn't yet 'available' to spend.

geoffky

We have a £500 overdraft but luckily have never had to use it. so when i check balances it just tells you what you have available after the stuff that has not been fully processed has gone out like petrol and shopping..never has the £500 come into play on balances.

marisco_2

The balance is what is in your account before your most recent transactions have gone out of it. Being a bank holiday it may be taking longer for those to be processed.

Available balance shows what will be left once all those transactions have gone out. It gives you a more accurate view of what you have left as disposable income.

The difference can be quite alarming cant it. I got that nice little shock this morning. Still seeing as we are nearing the end of the school summer hols I think I have done well all in all. Hope the bank manager agrees

gfplux

NatWest Bank example
Balance 1000
Available balance 2000

Meaning I have 1000 in the bank and have an overdraft (un used) of 1000 = total 2000

I might add the overdraft was never asked for, has been there for more than 20 years and has never ever been used,
"evil things them overdrafts"

Jojo_the_Tightfisted

Honestly, neither of them bear any relation to what you actually have or don't have in the bank.

Keep a tally yourself - it's the only way you will ever know for sure.


(bitter experience on many occasions speaking here, by the way)


(Eg,

A/c Balance £237.43
Available Balance £987.87


Actual balance £17.02 as wages aren't in yet and DDs are going out. Had I spent that £237, there would have been huge problems.


Or A/c balance £1800.78
Available Balance £NIL

Same again. And it doesn't allow for the overdraft facility.


Just as well I had learned this from experience - and your balance details from one network don't match the others, or your own bank's)