ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount of money that my bank will make available to me for withdrawal.
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How much money I’d love to spend if I could.
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The average amount of money I’ve had in my account for the last month.
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The balance listed on my most recent statement.
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Detailed explanation-1: -Your available balance is your current balance minus any holds or debits that haven’t yet been posted to the account. If you have no holds or pending transactions, the two balances are likely the same. But if you use your debit card regularly or you recently deposited a large check, the two balances may be different.
Detailed explanation-2: -Your available balance is the amount you can use for purchases or withdrawals.
Detailed explanation-3: -However, said amount must be made available within a reasonable time, usually two to five business days. Banks may hold checks from accounts that are repeatedly overdrawn.
Detailed explanation-4: -Not-Yet-Available Funds Sometimes you’ll see an available balance that’s less than your account balance. You can only spend your available balance in this case, or less if you have outstanding checks. The rest of the money is being held by your bank.
Detailed explanation-5: -Your available balance is the amount of money in your account, minus any credits or debts that have not fully posted to the account yet. This is the amount of money you can spend, but it may fully reflect the money you have at your disposal.