Difference between current and available balance
I have a student account and a cheque i recieved to this account got cancelled
now i have
-1000 on my current balance
-300 on my available balance
i got £1500 interest free overdraft, does this mean ive used it all up? or i still have -300?
if not does this mean ill have to pay some kind of charge?
now i have
-1000 on my current balance
-300 on my available balance
i got £1500 interest free overdraft, does this mean ive used it all up? or i still have -300?
if not does this mean ill have to pay some kind of charge?
Original post by I am nice
yes, you still have £300 to spend, zero charge
give us some money lol
give us some money lol
Original post by Yeah OK
It might mean you've used £300 of it, as opposed to there being £300 left.
£300 left or only £300 of my overdraft used? hoping its the latter!Original post by printergirl £300 left or only £300 of my overdraft used? hoping its the latter!
£300 left or only £300 of my overdraft used? hoping its the latter!£300 left to spend, Happy New Year!
Original post by OU Student
There's money due to come out of your account, but it hasn't come out yet. So whilst the money is in the account, you don't have it to spend.
which one are you referring to, available balance?
so how much do i have left £300?
It means there is a pending transaction, money is waiting to come out of your account, which is why it still shows in your 'current balance'.
It's not money you'd be able to withdraw though, what you can withdraw is your 'available balance'.
You have £300 available to spend.
It's not money you'd be able to withdraw though, what you can withdraw is your 'available balance'.
You have £300 available to spend.
Original post by I am nice
£300 left to spend, Happy New Year!
Original post by Vikki1805
It means there is a pending transaction, money is waiting to come out of your account, which is why it still shows in your 'current balance'.
It's not money you'd be able to withdraw though, what you can withdraw is your 'available balance'.
You have £300 available to spend.
It's not money you'd be able to withdraw though, what you can withdraw is your 'available balance'.
You have £300 available to spend.
I wasn't able to use my debit card yesterday to buy or withdraw cash???
Original post by printergirl
I wasn't able to use my debit card yesterday to buy or withdraw cash???
I've no idea then, check your bank statement.
Actually, both are different, yup! it's true as the term says,
'Current Balance' it means that the amount which is available in your account.
But when it comes to 'Available Balance' then it's a bit different thing, it means that the amount which you spend through through cards or ATM for any transaction....it still to come out of your account. In a simple words can say that you are going to buy anything and you swapped your card and if the amount for which you swap the card is available then you are able to made the purchase otherwise the card is going to be declined. It's depend on the purchase that how much time it is taking in transaction. !
Anyhow, I might be wrong but as much as I know, I explained! If any mistakes occurred then highly apologized...
Thanks!
paysoftintern
'Current Balance' it means that the amount which is available in your account.
But when it comes to 'Available Balance' then it's a bit different thing, it means that the amount which you spend through through cards or ATM for any transaction....it still to come out of your account. In a simple words can say that you are going to buy anything and you swapped your card and if the amount for which you swap the card is available then you are able to made the purchase otherwise the card is going to be declined. It's depend on the purchase that how much time it is taking in transaction. !
Anyhow, I might be wrong but as much as I know, I explained! If any mistakes occurred then highly apologized...
Thanks!
paysoftintern
If what you have is anything like RBS, 'available balance' is the amount of cash you can spend - including your overdraft. That means anything below 0 for 'available balance' is unarranged overdraft and therefore bad. Saying that, the numbers you have don't seem to add up to a £1500 overdraft - you'll have to have spent £800 recently or your overdraft wasn't really £1500.
'Current balance' is the amount of cash you have excluding the overdraft. This number may take a number of dates to update after shopping, however, the 'available balance' should always be up-to-date instantly.
'Current balance' is the amount of cash you have excluding the overdraft. This number may take a number of dates to update after shopping, however, the 'available balance' should always be up-to-date instantly.
Original post by Pink Boy
If what you have is anything like RBS, 'available balance' is the amount of cash you can spend - including your overdraft. That means anything below 0 for 'available balance' is unarranged overdraft and therefore bad. Saying that, the numbers you have don't seem to add up to a £1500 overdraft - you'll have to have spent £800 recently or your overdraft wasn't really £1500.
'Current balance' is the amount of cash you have excluding the overdraft. This number may take a number of dates to update after shopping, however, the 'available balance' should always be up-to-date instantly.
'Current balance' is the amount of cash you have excluding the overdraft. This number may take a number of dates to update after shopping, however, the 'available balance' should always be up-to-date instantly.
the account has seemed to correct itself now, am not sure what happened but it does not look as i've had any charges to my account
Go to a cash point and put your card in and press check balance. It will show you the account balance and the amount you can take out. This amount will be close (give or take £10) to how much you have available in your account.
generally a - before a number means how much overdrawn or in overdraft you are, so if you have a £1500 overdraft and -300 available you have £1200 available to you, but if you've had a problem with a cheque don't go taking any large amounts out until you've clarified everything with your bank
Posted from TSR Mobile
generally a - before a number means how much overdrawn or in overdraft you are, so if you have a £1500 overdraft and -300 available you have £1200 available to you, but if you've had a problem with a cheque don't go taking any large amounts out until you've clarified everything with your bank
Posted from TSR Mobile
Which one do i use my current balance is lower then my available balance what does this mean.
Original post by printergirl
I have a student account and a cheque i recieved to this account got cancelled
now i have
-1000 on my current balance
-300 on my available balance
i got £1500 interest free overdraft, does this mean ive used it all up? or i still have -300?
if not does this mean ill have to pay some kind of charge?
now i have
-1000 on my current balance
-300 on my available balance
i got £1500 interest free overdraft, does this mean ive used it all up? or i still have -300?
if not does this mean ill have to pay some kind of charge?
I work for a bank
Current Balance = the Money in your account (inc Pending payments)
Available Balance = the money you actually have to spend
the '-' meanins you are in your overdraft (so the closer to 0 you are the more you have? Best way of putting it)
(edited 3 years ago)
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