The remaining amount on your account. For example, you have a hundred dollars in your savings account. You withdraw twenty dollars. Your balance is now eighty dollars. The available balance is very important, since it shows the amount in your account that can be used. For example, you may have just deposited a cheque from a client, worth two hundred dollars. Your available balance would not reflect that deposit until the client’s cheque has cleared.
Written on 08/27/2016 by Kurt Linton