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Current vs Available Balance- Very Confused?

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  • 04-01-2015 12:26pm
    #1
    haro124
    Closed Accounts Posts: 684 ✭✭✭


    So my current account balance has a negative figure, but above it it says I have a positive available balance! I'm very confused, so will my current balance update to the positive figure?


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    #2
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    Do you have an overdraft?


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    #3
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Available balance can be higher than acc balance or a cheque waiting to clear into your account.


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    #4
    haro124
    Closed Accounts Posts: 684 ✭✭✭haro124


    All the transactions processed on my account add up to the negative balance


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    #5
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    Are you due to get paid on monday?


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    #6
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    haro124 wrote: »
    So my current account balance has a negative figure, but above it it says I have a positive available balance! I'm very confused, so will my current balance update to the positive figure?

    The difference is pending transactions which are in between trade date (the day the transaction took place) and settlement date (the day the cash will move).

    Examples include ATM transactions, point of sale transactions, cheques, online transactions and sometimes inward deposits such as wages.


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    #7
    coylemj
    Registered Users Posts: 25,437 ✭✭✭✭coylemj


    Some direct debits can be pending in the system for several days. A while back I asked Bord Gais to change the bank account they used for my direct debit, they wrote back to acknowledge the change and a few days later they took the money - from the old account!


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