What is the difference between...,

Lounge
1

An account balance and an available balance?

On a bank balance receipt.

I tried to look it up but I don’t understand

Thanks.

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2

I think account balance is how much U have in your account and available balance is how much your allowed to take out. :thinking:

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3

It’s weird cos my available balance is more than my current balance. Bit confused.

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4

Account balance is what you’ve got.

Available balance is what you can spend.

It’s different if you can go ‘in the red’.

Does that explain it to you clearly?

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5

OK it’s weird cos my available balance is 16. And my current balance is 7

So how can I spend 16 if there’s only 7 that I’ve got.

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6

You can go 9 in debt.

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7

It never usually allows that. Strange.

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8

account balance is the amount of money you have

available balance includes overdraft and deposit holds etc.

so if you had 500.00
deposited a cheque for 200.00
and 100.00 overdraft protection
your available funds are 600.00

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9

With my bank account it’s the same. I can go 1240€ in the red. So my available balance is always 1240€ higher. But if you go below 0 you have to pay interest.

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10

Yes overdraft is the term. We just call it ‘in the red’ in Dutch.

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11

OK so the 12 difference is maybe because some1 has sent money to my account

12

possibly its hard to tell

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13

An available balance reduces your account balance by any pending transactions that haven’t been deducted yet. The account balance shows all completed transactions in the balance.

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14

Also increases the account balance by any deposits that are pending.

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15

Thanks guys.

It’s really confusing concepts for me

17

oh i should add if someone is trying to scam you and youre not giving backstory dont give anyone any money.

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18

Usually some amount needs to be deposited in your account every time, if you withdraw this than Bank charges some fees. This is a little fix amount. And that is added to your available balance. Total is account balance .

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19

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