![]() More than $11 billion in overdraft fees were paid in 2019 – you don't want to add to that number if you can help it. So, if you also had a check that you mailed that was for $100 and it cleared, you would be overdrawn by $10. Your current balance would still say $100 since the transaction at the coffee shop is still pending. You use $10 to buy coffee in the morning. To use an example, let's say you both your current and available balance are at $100. Your current balance reflects all your money, in addition to funds that are being held or are in transit, such as checks. You can, but you have to be mindful about other financial transactions you have made. This is also the case if you have written a check that has not yet cleared. If you've made recent purchases with your debit card, but the financial institution hasn't fully processed the transaction, the current balance will be higher than the available balance. You may notice upon checking your account balance that these two numbers are not the same. Why are my current balance and available balance different? This is the amount of money you can spend, but it may fully reflect the money you have at your disposal. Your available balance is the amount of money in your account, minus any credits or debts that have not fully posted to the account yet. As you will learn soon, this may not be the most accurate picture of your account's status. When you look at your bank account online or speak with a branch teller, the current balance is the total amount of money kept in the account. What does current balance mean in my account? However, it's important to understand the differences between current balance and available balance and how that can affect your spending and planning. ![]() Your local, customer friendly credit union and most banks do offer overdraft protection as a back up plan in case you make a mistake in your balancing. As more people move to online banking from the days of manually balancing a checkbook, this difference can be critical in how much money you have at your disposal. One of the major sticking points for people can be the current balance versus available balance of bank accounts. This leaves many people wondering, "What does it really mean when I check my account balance?" According to statistics, nearly 20 percent of Americans incurred an overdraft over the past year. It can happen to even the most diligent of budget watchers – an overdraft on your bank account. Search Our Site Search Button Understanding the Current Balance vs Available Balance in Your Account
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