BANKING AFFAIRS

Detailed explanation-1: -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.

Detailed explanation-2: -The current balance on your bank account is the total amount of money in the account. But that doesn’t mean it’s all available to spend. Some of the funds included in your current balance may be from deposits you made or checks you wrote that haven’t cleared yet, in which case they’re not available for you to use.

Detailed explanation-3: -Look up the “current available balance” in your checking account. You can find this information on either your bank’s website or through its mobile app. If you’re using a paper checkbook register, you’ll record this number in the top spot above the spaces you use to log your transactions.

Detailed explanation-4: -To avoid an overdraft, keep track of your checking account deposits and withdrawals. Reconciling your spending with your balance helps prevent overspending, which could lead to overdraft fees or checks being returned due to insufficient funds.