Discrepancy between "balance" and "available balance" in checking account

debodun

debodun

SF VIP
Location
way upstate in New York, USA
Yesterday it was $800, today $2600. There has been no withdrawals or checks drawn on my account to explain this. I called the bank and they said although the could see the difference, they were also at a loss to explain it. Only told me to wait a few days and see what happens.
 

Whatever you do, I wouldn’t spend the extra money. Mistakes happen, even at banks.



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Have you written checks and are they in pending status? Do you have any direct debits you setup to pay automatically each month, quarter, etc.?

Log on and check your account twice a day and see if it is resolved, if not, get on the phone and tell them to figure it out. Good luck.
 
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No outstanding deposits or withdrawals. I cashed my pension check, but that's a state government check. Are they afraid the state doen't have enough funds? And why would the available balance change so much from one day to the next with no activity other than the cashed check?
 
There's a possible chance that, as a bank,
it could have something to do with the long weekend associated with July 4 State bank holidays....

perhaps some automatic things, behind the scenes, that would occur at different times from usual, and even some staffing issues, in some other locations, due to the lengthy holiday observances.

I would wait and see, for a couple more days.
Their system might treat some potential transaction, as not finalized or "pending" for longer or at a different timing.

So yes, it might even effect a State check.
Or the entire system, and not necessarily applying just your account.
 
The State has the funds, as you say, but they might not have released them fully.
As I suggested, it might be some reason broader than your individual specific accounts.
 
debodun said:
Yesterday it was $800, today $2600. There has been no withdrawals or checks drawn on my account to explain this. I called the bank and they said although the could see the difference, they were also at a loss to explain it. Only told me to wait a few days and see what happens.
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"Yesterday it was $800, today $2600. " "There has been no withdrawals or checks drawn on my account to explain this. " That's more today, wouldn't that be deposits ? As opposed to withdrawals ? Or am I missing something ?
 
debodun said:
Not any explanation that I could understand. Why wold they have to "withhold" money from my account? I make a deposit and BANG, it should all be in the account.
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1) i've worked in banks in four different states 'available balance' in those banks and every bank i've every dealt with meant the amount you can spend without fear of overdrawing as long as you've "Reconciled" your account (checked that all payments have cleared and deposits are noted correctly).

2) Availability depends on form of deposit. Cash and electronic direct deposits are usually available immediately because the $$ are moved directly from the payer to the payee, they can't be moved if payer does not have funds to cover them. A "Cashier's Check" which most banks will set up for very small fee (tho they usually waive such fees for wealthy customers who could easily afford them), means the bank it is drawn on places a hold on the funds when the customer sets it up. That guarantees the payee and their bank the funds will be there when payee's bank submits it.

3) Regular checks of many kinds it can be at disgression of the bank, they place a hold, usually not more than 5 business days, till the check officially clears. If a check is from a small non-local bank or the payer has some unsavory history with payee's bank a hold might be placed to protect their customer till the check clears.

And it could be essentially a typo if you hadn't made a deposit that would account for the difference.
 
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