What is the difference between available and posted balance

So what is an Available Balance and Posted Balance, and how are they different from each other? To answer this question, it is essential to take an understanding of what posted balance is, and then learn about the available balance. This is the amount balance that actually exists in your bank account, and is physically available for use. It is computed as a result of a transaction that was executed in the past.

A posted balance is the real balance or the actual balance in the account. In other words, it is the account balance as of the close of the last working day, and prior posted balance is a balance as of the close of the day before a prior working day. It usually arises from direct deposits, debit card purchases, notice of returns, check deposits that are yet to be cleared, and notice of collection. Available balance is the amount of balance that is available to be used by an individual at any time, and is usually represented by a difference between a ledger balance and any unprocessed transaction.

The difference between these balances can be well understood with the help of an example. It is necessary for every individual to understand the differences between the bank balances these days, because misinterpreting these balances can affect their financial decisions.

For example, when a person performs bank reconciliation, he may end up taking posted balance as available balance, due to which the balance on the bank statement will not match the balance calculated by him. As a result, his financial performance will get affected by this, if he has taken all of his financial decisions on the basis of his personally calculated balance.

Difference between Available Balance and Posted Balance. Keep track of outstanding checks that you have written. Smart, simple strategies like these can help you stay on top of your money. All rights reserved. Member FDIC. Why are my available and posted balances different?

Why was a hold placed on my deposit? What are the cut-off times for deposits? Pending check deposits that have not yet been processed or posted to your account or those that did not receive availability at the time we received the deposit.

These funds will be available on the next business day, unless a hold is placed. Outstanding checks and automatic payments you have authorized such as car payments, a gym membership, or other recurring debit card transactions that have not yet been received by us for payment. Debit card transactions authorized by us but not submitted by the merchant for payment within three business days of authorization, or that were never submitted for authorization. How is my available balance calculated?

Current posted balance includes: Deposits and withdrawals that have posted to your account by the end of the previous business day. Pending transactions include: Deposits you made after the previous business day during the day or over a weekend, for example. Business days are Monday through Friday, except for federal holidays. ATM withdrawals, Wells Fargo Online Bill Pay transactions, and pending debit card transactions that have been authorized, but not yet paid from your account. Checks and automatic payments received by the bank during the day, which have not yet been fully processed posted for payment.

Examples of automatic payments are bills you pay by authorizing a third party to obtain the funds directly from your account. Please note: If there is not enough money to cover these transactions during the nightly processing, we may pay the item creating an overdraft or return the item unpaid.

What other factors affect my available balance? Debit card purchases If you make a purchase with your debit card, the merchant may request authorization for an initial amount and send us the actual transaction amount later for payment. Deposits Cash deposits and transfers from another Wells Fargo account are immediately available for your use. How can I keep track of my available balance? Keep a record of all of your transactions and compare your record to what is reflected by the bank. Adjust your record to include outstanding checks and automatic payments you have authorized such as car payments, a gym membership, or other recurring debit card transactions but have not yet been received by the bank.

Set up low balance alerts to help you manage your account and monitor activity. You can find details about your pending and posted transactions when you view your account activity through Wells Fargo Online. What are pending transactions? Please note that pending transactions may not post to your account in the order listed.

When will my deposit be credited to my account? Business days are generally Monday through Friday, except for federal holidays. The cut-off time for deposits using the Wells Fargo Mobile app is 9 p. Pacific Time. How much account activity can I view online? The amount of history you can view through Wells Fargo Online depends on your type of account: Checking, savings, and money market account histories are available for up to 18 months.

Line of credit and installment loan account histories are available for up to 24 months. Credit card account histories are available for up to 90 days or transactions. How can I download my account history? How do I get information about a levy or legal order process on my account? How do I reactivate my inactive account?

Here are common ways you can reactivate your account some options may not be available for your account : Sign on to Wells Fargo Online to access Account Summary, and select the option to reactivate your account that is displayed next to the inactive account. Transfer funds online to this account. Transfer funds online from the inactive account to another Wells Fargo account.

Write a check that is paid from this account. More specifically, when you deposit a check , the bank may hold some or all of it while it verifies that the check is good and receives funds from the issuing bank.

Holding policies can vary by bank, so check with yours to get more information about what you can expect. If the new transaction is more than your available balance, it could result in a nonsufficient funds, or NSF, fee or overdraft fee.

For the most part, your available balance is an accurate view of what you have to spend. Depending on the type of deposit, the length of time the hold lasts can vary. With a normal hold, some of the funds may be available on the same day and the remainder the next business day or two business days later.

Exception holds can last longer than normal holds — up to five business days or even longer in some circumstances. If you have a payment or transfer coming out of your account soon, or you plan to use your debit card or make a withdrawal, look at your available balance to determine how much money you actually have to use.

Using the available balance instead of the current balance can help reduce the chance of overdrawing your account, which could trigger overdraft fees and possibly NSF fees. In this instance, though, you may be slapped with an overdraft fee if your account balance goes into the negative. Others may offer fee-free overdraft protection that links your checking account to a savings account to cover overdrawn amounts.