Account Balance

The amount you have available (account balance) to spend right now is your available balance. It's akin to having "funds accessible to withdraw." You can put the money to good use in a variety of ways. You can withdraw that amount in cash from your account using an ATM or a bank teller.

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.

Knowing how much money you have in your bank account and how much of it is available for spending is crucial. Checking your account on a regular basis allows you to keep track of your finances and identify problems (such as fraud or errors) before they become serious.

Here’s 6 steps to check your account balance:

• Create an online account.
• Text Messages and Mobile Apps
• Make use of an ATM
• Make a bank call
• Create Alerts
• Speak with a teller