Quick Answer: Why Is My Available Balance 0?

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..

Why are my funds not available?

Occasionally, your deposit may not be showing up as planned because of a mix-up with the bank. A good way to look out for this is to monitor your account daily. When you make a deposit to your account, it should show up in your account history, even if the funds are not immediately available to you.

What is total balance and available balance?

Your Total Balance is the total amount held in your account. … Your Available Balance might be higher or lower than your Total Balance, and accounts for pending transactions in your bank accounts that have not yet cleared.

Can available balance be withdrawn?

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. Withdraw cash: You can take that amount out of your account in cash, either at an ATM or with a bank teller.

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.

Why is my balance negative?

A negative balance on a credit card means your credit card company owes you money, rather than the other way around. In other words, you’ve paid more than your total balance due. Credit card companies generally prevent you from paying more than you owe, especially online.

Does current balance include overdraft?

How are balances displayed under the new rules? The idea behind the new rules is to make it clearer to customers that an overdraft, even if agreed, is a debt. So in a nutshell, your available balance will only show how much money you actually have in your account, and won’t include any overdraft facility you’ve agreed.

What happens if my bank account balance is zero?

No Penalties. Banks levy penalty for non-maintenance of the minimum account balance in a regular savings account. A zero balance account scores over a regular savings account as you are not required to maintain a minimum balance. When you get yourself a zero balance account, you can keep any amount of money you want.

How long until current balance becomes available?

two daysDepending on the amount of the check, you may have access to the full amount in two days. Some banks make a portion of the check available immediately or within one business day.

Can I spend the money in my available balance?

Your available balance is the amount you can spend right now. … Sometimes you’ll see an available balance that’s lower than your current balance. In those cases, you can only spend your available balance (or less if you have outstanding checks), and the rest of the money is being held by your financial institution.

What does it mean when ATM says Bank unavailable?

The customer’s card issuer is unable to be contacted to authorise the transaction. The customer should attempt to process this transaction again. If the problem persists, there may be an issue with the card issuing bank, and the cardholder should contact their bank.

Can a bank deny you access to your money?

No the bank has no right to refuse your money, however due to various regulations in which bank operates (Jurisdictional laws) they may put on some restrictions on the amount you may withdraw.

How do I know if my bank account is active or not?

Method 2: Simply call customer care of bank and ask for account status. Or visit your bank branch. You should visit your nearest bank branch with your account number and they will tell you if your account is active or not.

What is minimum balance in SBI?

Currently, SBI savings bank account customers need to maintain an average monthly balance of Rs 3,000 in metro, Rs 2,000 in Semi urban and Rs 1,000 in rural areas.

Why is my current balance so high?

So if you’ve made a few purchases since your statement closing date (the date that one billing cycle closes and after which the next begins), then your current balance will be higher than your statement balance. … Paying your statement balance in full before or by its due date can help you save money on interest charges.

What does balance unavailable mean?

Once claims are processed, if it is concluded that it is no longer necessary to hold funds, the remainder of the unavailable balance is made available for payment to you. … If so you’re stuck on the new seller payment plan, which means funds are not available until 7 days AFTER the latest estimated delivery date.

Do you look at current balance or available balance?

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.

How can I get my check cleared faster?

The safest and fastest way to get cash is to take your check to the check writer’s bank. That’s the bank or credit union that holds the check writer’s funds, and you can get the money out of the check writer’s account and into your hands instantly at that bank.