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The Difference Between Available and Current Balance

You’ve seen the two different balances in your Mutual Savings Credit Union home banking account or on your ATM receipts but what is the difference between your available balance and your current balance?

To understand the answer to this question, it is helpful to know more about how checks and debit card purchases are presented to Mutual Savings Credit Union for payment. When you pay a vendor with your MSCU checks or debit card, MSCU won’t know about this purchase until the vendor deposits your check or processes their debit card machine. With today’s technology, this notification takes place at a faster pace. Automatic withdrawals and drafts work similarly.

Your current balance is the amount of money in your account at the beginning of a business day. This amount does not include any pending deposits or withdrawals.

Your available balance is your current balance minus any pending debit card purchases, automatic drafts, processing checks or other debits from your account. The available balance also takes any pending deposits into consideration.

As mentioned, technology makes it easy to stay on top of your account balance. In addition to your MSCU home banking service, it’s also helpful to keep track of your deposits and withdrawals by using an account ledger, which is free at your MSCU branch. Contact a Mutual Savings representative for more tips on how to manage your account.