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What is Account Balance and Available Balance?

23 Mar 2022 By PAYCEC

The difference between Account Balance and Available Balance:

  • The total in your account is your account balance. This is the amount you owe if "OD" (overdraft) appears in front of the amount.
  • The available balance is the amount of money you have available to withdraw, transfer, and use.
  • Because of a scheduled overdraft, the available balance for transactions or savings accounts may be greater than the account balance. Because of uncleared money, the available balance may be lower
  • An available balance on a loan account is the amount that you can withdraw, redraw, or utilize as a line of credit. If you have a $0 balance, it means you have used the entire amount of the permitted loan.

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