If my posted balance isnt the same as my available balance in my checking account?

Question

I made a deposit the other day and it still hasn't cleared. I only have 1 dollar available in my checking account. If i charge over the available amonunt, will it cost me overdrawls?

Answer 1

I suggest that you call your bank to ensure that the deposit is there.  Sometime banks take a few days to make the deposits, specially if it is from another branch.  Do not withdraw money from your account before you see the deposit.

Talk to your bank manager and ask if the bank has overdraft protection. This will cover you in case of an emergency.

Good luck,

Agua

Answer 2

Posted balance may be more than available balance, as there's still some money under processing.  Just like your deposit that is still under processing, if you deposited a cheque, it has to be cleared by the originating bank before the posted balance becomes available balance.

Answer 3

yes you just have to hope that the deposite clears b4 your transaction or you will be over drafted...

i do that all the time

dont spend anything until it clears unless you want to be over drafted  

Answer 4

Yeah, you can't charge it until that deposit clears.

Answer 5

Yes you technically dont have that money yet.  It is just showing you the balance you will have once the check clears.

Answer 6

Most likely, yes.  My experience shows that if your "available" balance dips into the negative, you'll be charged an overdraft fee.

However, you can always call your bank, have them look at the account and tell you concretely whether they will charge the account.

Banks are merciless.  Good luck!

Answer 7

use your card as credit when you buy something

Answer 8

Some back will charge you NSF if you withdraw/charge on a check that has not cleared. You might wanna verify with your bank though. If it was an out of state check they take 3 to 7 days to clear.