Quick Answer: Can I Use My Available Balance If I Still Have Money Pending?

Why is my current balance and available balance different?

The available balance for your account may differ from the current balance because of pending transactions that have been presented against the account, but have not yet been processed.

Once processed, the transactions are reflected in the current balance and show in the account history..

What does it mean when it says current balance and available balance?

The current balance is the total amount of funds in your account. The available balance is your current balance less any outstanding holds or debits that have not yet posted to your account.

Why would a transaction be pending?

A pending transaction is an approved debit or credit transaction that has not been fully processed yet (i.e. has not been posted). … The customers bank will then authorise the transaction and deduct the amount from their available funds. The transaction now shows as ‘pending’ on the account.

Does pending mean they took the money out?

Pending transactions only affect your available funds. While the transaction is pending, the transaction amount is deducted from your available funds. Your account balance is not affected by a pending transaction; it only changes once the payment is fully processed.

Can you withdraw money pending transactions?

Using the Available Balance They should also take into consideration any pending transactions that haven’t been added or deducted from the balance. A customer may be able to withdraw funds, write checks, do a transfer, or even make a purchase with their debit card up to the available balance.

Why is my total balance and available balance different?

Your available balance is the amount of money in your account to which you have immediate access. Your available balance will be different from your current balance if we have placed a hold on your deposit or if an authorized credit or debit card transaction has not yet cleared.

Why is a transaction pending for so long?

The exact timeframe depends on the merchant, since they finalize their transactions in batches. It’s common for them to do this once a day, but some merchants batch their transactions less frequently, resulting in the transactions that stay pending longer.

Why do banks take so long to process payments?

Deposits can take even longer to happen at times, in part because the bank wants to ensure that the funds are good. They won’t know that the funds are good until the money actually arrives, so many banks will hold deposits for up to 5 business days at times. So be aware of that, and know what your bank’s policy is.

What happens if I spend more than my available balance?

“ Only you know all the transactions that will affect the balance you have available for making that next payment or purchase. ” What happens when you spend more than you have in your checking account? … Your next ATM or debit card transaction may be declined when you are attempting to withdraw money or make a purchase.

Can you use money that is pending?

Every deposit must be verified and authorized before it becomes available for use. Therefore, when a deposit is pending, you cannot use any of the money. Only when a pending deposit is approved and added to your ‘available balance’ does it become accessible.

Can a bank release a pending deposit early?

Generally, a bank or credit union has until at least the next business day to make most deposits available but can make them available sooner if it wishes. … It assumes deposits were made into the payee’s account; when you deposit a check made out to someone else, there will generally be a longer hold on the funds.

Why does my available balance say negative?

You’ll have a negative balance if your credit card issuer owes you money. It will be noted with a minus sign in front of the number listed for your current balance. You could see a negative balance if you accidentally overpaid your bill. You could also see one if you got a refund for a returned purchase.

Can I use my available balance?

Your available balance is the amount you can spend right now. You can think of it as “funds available to withdraw,” but there are several ways to actually use the money. … Spend with your debit card: Your debit card pulls from your checking account, so you can only use it if you have funds available.

Why does my available balance Say 0?

If you swipe your card for more than what is in your account, the available balance will be $0 (which actually means less than 0). … The “bank” hasn’t validated the charge yet, so your account shows a balance of $50 still, but the bank has reason to believe that you have spent $48.25 of that.

How long does it take for a pending transaction to go through?

Some card transactions will appear as pending on your account until the payment is fully processed. How long will a transaction remain in pending? Generally it takes about 3 to 5 business days to process a transaction, although it can take up to 10 business days or longer.