An account balance is termed as the
amount of cash that is present in your bank account. This amount of cash that
you see, in your bank statement, is the net amount and has no debits or credits
in it. Most of the time it is also termed as the net amount that you have
because it is calculated after subtracting all your liabilities (or debt) from
your assets.
There may be cases where
your account balance is shown less or more, in other words, you have less
available funds as compared to your account balance. This can happen due to various reasons and is not
something that you have to worry about. Though some of the most common reasons
include there may be some authorization pending issue or after you deposit a
check (or even cash), but the bank has not processed it yet. You may think that
as soon as you deposit a check or cash in your bank account, it will
immediately be credited to your account but that is not the case. These
clearances can be made in a day or two, so nothing to worry about here.
You have to keep a track of
your available account
balance. The easiest way to do that is to check your available
balance daily, without fault. Also, keep a little booklet or maybe even use an
app, to note down the dates and amounts of all transactions ever made. Sure,
you can get a bank statement from the bank whenever you want but keeping a
track of yourself is important for your safety and peace of mind. Various banks
have this option where you can check your current balance simply by using the
bank’s ATM and that too free of cost. Also, you can call the bank’s customer
service and ask them to tell you your available balance.
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