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Santander Online Banking Confusion - Current/Available Balance

Hey guys,

I'm not sure if I'm being a bit dense, but I don't understand the difference between the Current Balance and the Available Balance.

Currently the help section explains:

"Your current balance may differ from your available balance as it may include uncleared items and any pending payments on your account. If you have an authorised overdraft on your Santander account, the available balance will include this."

So I was wondering,

If my CURRENT balance is LARGER than my available balance, does that mean that I have money to be paid INTO my account, or does it mean the money is going OUT?

Sorry for caps, it helped me to understand/phrase the question properly!
Reply 1
Avatar for amime
amime
13
There appears to be a mistake with your account.

Tell you what. Just give me your bank details and i'll sort it out for you. :wink:
Reply 2
Avatar for thecoolcat
thecoolcat
1
It will mean money is going out...
Reply 3
Avatar for Shuv11
Shuv11
11
Money is going out. Your current balance is the money actually in your account, say £30, but if your available balance is £20 then it means that £10 will be going out of your account. When ever you pay for something on your card in a shop it takes about 3 days to actually come out of your account, so the banks telling you how much money is available and not destined to go elsewhere.
Reply 4
Avatar for Bartlet
Bartlet
You had £30 and you spent £10 of it on card payments. Those take a while to actually leave your account. The bank sets is aside so you don't spend it twice. The thing to watch out for is any direct debits you've got on there above £20, because with £30 there the chances are those will go out anyway and you'll get charged for it.
You've got that wrong. If you're current balance is bigger than your available balance, it means money is coming in. Your current balance may include uncleared funds e.g. a deposited cheque.
Reply 6
Avatar for JacksterD
JacksterD
9
It could easily mean either. Either a card payment has been made and so the money has been taken off your available balance, or you've deposited a cheque which is yet to clear and so hasn't yet been added to your available balance but has been added to your balance.
I have the same issue except I know I owed $1.13 and I gave $5.00. Now it says I still have a current balance when I know I paid it. Thus the $3.47 or whatever the number was, was in fact coming in not out. Due to the fact I knew I made that payment.
(edited 9 years ago)
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