Available balance vs balance: What’s the difference?
- The “balance” in a bank account refers to the total amount of money in the account, including all deposits and withdrawals.
- The “available balance” is the amount of money that is immediately accessible for use by the account holder. This amount takes into account any holds or pending transactions that have not yet been cleared.
- The difference between these two amounts is crucial for account holders to understand to avoid overdraft fees or penalties for insufficient funds.
Available balance vs balance: What’s the difference? Read More »