UK: Just been to cashpoint. Why is there a £200 difference between my account balance and 'available balance'?

Question

I do not know why there is a difference in the two figures, as my wages went in today and I haven't spent any money in quite some time. What are these two figures and should I be worried?

Sorry if this is a stupid question but this is the first job I have had since leaving home and my first pay-cheque!

Answer 1

if the account balance is lower than the available balance then you must have a £200 overdraft. If the account balance is higher than the available balance, then you owe the bank £200 and they have taken it

Answer 2

The account balance is the amount you have in your account.

Available balance is the amount you are allowed to take out through the cash machine on that day. Banks put a daily limit on the amount you can withdraw to reduce the damage if your card is stolen.

Answer 3

If you have paid in a cheque in the last few days and this hasn't cleared yet then the amount of the cheque would show in your account balance but not in your available balance.

If you have any direct debits or other transactions due to go out of your account in the next couple of days then your available balance may have been reduced by the amount due to go out of your account.

Answer 4

have you paid a cheque in? you cant draw on a cheque till its cleared although it still will show on your balance.