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available balance and balance

Posted by beverly0515 beverly0515
Message 1 of 4 973 Views

why the avaiable balance amount in my debit account is less than my balance amount?

 I was told that normally the available balance should be more the the balance, because of the overdraw amount.

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Re: available balance and balance

Posted by LyndsC LyndsC
Message 2 of 4 972 Views

Hi @beverly0515, thanks for your question! This can sometimes happen if you have any transactions in Authorisation only, as the funds are held in your account for the company until they complete the transaction, these would show in your balance but not as available funds. This may also happen if you have a cheque waiting to clear, as the cheque value would show in your account balance, but not as part of the available balance until it has cleared.

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Re: available balance and balance

Posted by beverly0515 beverly0515
Message 3 of 4 970 Views

Thanks a lot.

But how should i understand "the transaction  finished".

If i bought something in the supermarket and pay in debit, will it reduce my available balance amount in a couple of days?

 

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Re: available balance and balance

Posted by LyndsC LyndsC
Message 4 of 4 965 Views

If you make a purchase using PayPass or the credit button on your card, the transaction will sit in Authorisation Only, which means that we are holding that money for the shop you used. When the shop processes all their transactions (some do this daily, however some take a few days), the words "authorisation only" will be removed and the balance of your account will reflect this.

 

For example If you have $200 in your account and both your account balance and available balance show this, and you make a purchase for $50 using PayPass, the transaction will show up as authorisation only and the available balance will show $150. When the shop processes their transactions your account balance will also show $150.

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