Q:

What is the difference between current and available balance?

A:

Quick Answer

The current balance in a bank account is the amount in the account at the start of a business day. The available balance is what the account holder can actually withdraw at a given point in time, according to Mutual Savings Credit Union.

Continue Reading
What is the difference between current and available balance?
Credit: Richard Elliott The Image Bank Getty Images

Full Answer

First Tennessee indicates that some direct wire transfers and online bill payments automatically reduce an account holder's current balance. Other transactions, such as debit payments, processing checks and automatic drafts do not immediately affect the current balance. They do reduce the available balance so that the account holder is not able to go over the account limit when making a withdrawal or payment.

Learn more about Personal Banking

Related Questions

  • Q:

    How do you credit funds to a PayPal account?

    A:

    A bank account must first be linked to a PayPal account, but once this is done, crediting the PayPal account can be achieved by logging into PayPal and selecting the add money option. It is possible to link multiple bank accounts to one PayPal account.

    Full Answer >
    Filed Under:
  • Q:

    What are dormant bank accounts?

    A:

    A dormant bank account is an account at a financial banking institution that has had no activity by the owner of the account for an extended period of time. If the account holds no funds, it can usually be closed by the bank itself, while accounts with monetary value must remain open and accessible for many years.

    Full Answer >
    Filed Under:
  • Q:

    What is a Bluebird bank account?

    A:

    A Bluebird bank account is just like any other bank account that offers checks and a debit card to spend the money available in the account, except it is more readily available to customers who have poor credit. There are no credit checks so as long as there are funds to open the account; it is approved for anyone.

    Full Answer >
    Filed Under:
  • Q:

    How do you use the Cal Water bill pay service?

    A:

    Use the Cal Water bill pay service by logging into your online account and choosing to pay your bill with either your bank account or one of the accepted credit cards. You can also enroll to have your bill automatically paid each month with your bank account.

    Full Answer >
    Filed Under:

Explore