Where to find your Current and Available Balances
YOUR ACCOUNT BALANCE
Your account has two kinds of balances: the “current” balance and the “available” balance. Both can be checked when you review your account online, at an ATM, by phone, or at a branch. It is important to understand how the two balances work so that you know how much money is in your account at any given time. This section explains current and available balances and how they work.
Your current balance is the amount of money that is in your account at any given time. It reflects payment transactions that have “posted” to your account, but not payment transactions that have been authorized and are pending. It also reflects the full amount of all deposits, even though some portion of a deposit may be on hold and may not be available to you. Thus, while the term “current” may sound as though the amount you see is an up-to-date display of what is in your account that you can spend, that is not always the case. Any holds for purchase transactions, holds on deposits, or other checks, payments and fees that have not yet posted will not appear in your current balance. For example, if you have a $50.00 current balance, but you just wrote a check for $40.00, then your current balance is $50.00 but it does not reflect the pending check transaction. So at that point, you actually have $50, but you have already spent $40.
Your available balance is the amount of money in your account that is available to you to use. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that have been authorized but that have not yet posted to your account. For example, assume you have a current balance of $50 and an available balance of $50. If you were to use your debit card at a restaurant to buy lunch for $20, then that merchant could ask us to pre-authorize the payment. In that case, we will put a “hold” on your account for $20. Your current balance would still be $50.00 because this transaction has not yet posted, but your available balance would be $30 because you have committed to pay the restaurant $20. When the restaurant submits its bill for payment (which could be a few days later), we will post the transaction to your account and your current balance will be reduced by $20.
Point of Sale (POS) Debit Card Transactions
These are transactions where you make a purchase with your debit card. The merchant will seek authorization for the transaction. When that happens, we generally place a temporary hold against the available funds in your account. We refer to this temporary hold as an “authorization hold” and the amount of the authorization hold will be subtracted from your available balance. Authorization holds are deducted from your available balance, but not your current balance, as they are received by us throughout each day. At some point after the transaction, it is processed by the merchant and submitted to us for payment. This can happen hours or sometimes days after the transaction, depending on the merchant and its processing practices.
Please note: the amount of an authorization hold may differ from the actual payment because the final transaction amount may not yet be known to the merchant when the authorization request is submitted. For example, if you use your card at a restaurant, a hold will be placed in the amount of the bill presented to you, but when the transaction posts it will include any tip that you may have added to the bill. This may also be the case where you use your debit card at gas stations and hotels and other retail establishments. We cannot control the amount a merchant processes for an authorization hold, or when a merchant submits a transaction for payment.
Hold amounts may differ from the actual purchase amounts for certain types of transactions:
- Using your card for a hotel reservation or at check-in, the hotel may place a hold for the estimated charges for your stay. This hold will apply even if you pay your bill in cash or use another debit / credit card when checking out.
- Gas stations often request a minimum $1 authorization, no matter the final purchase amount.
It may take several business days for the actual purchase
amount to replace the hold on your account. The hold reduces
your Available Balance. The hold is replaced when the final purchase
amount is deducted from your account. If the hold is not matched with
an actual purchase amount within seven business days, the hold is removed
from your account.