What is the difference between my “ledger balance” and “available balance”?
The available balance in your account is what is available to you for immediate withdrawal as of the previous business day. It is sometimes different from your current or ledger balance due to existence of overdraft protection, bill payments may not yet deducted from your current balance, or float from deposits that you have made. Deposit float is created whenever a Salin Bank customer deposits a check drawn from another bank. Banking regulations require Salin Bank to physically present the check to the bank that it is drawn on before it can be made “available” to you for withdrawal.
Your ledger balance is your beginning-of-the-day balance. Your available balance is your beginning-of-the-day balance plus or minus any of “today’s credits” or “today’s debits.” For example: your ledger balance is $100. Today’s credits total $25 (you deposited $25 at your branch), and today’s debits total $10 (you took $10 out at an ATM). Your available balance would be $115. Note: Other transactions may be credited or debited to your account throughout the day.
Your Ledger Balance is your beginning of the day balance. Your Available Balance is your beginning of the day balance plus or minus “Today’s Credits” or “Today’s Debits”. For example: Your uncollected ledger balance is $100, Today’s Credits total $25 (you deposited $25 cash at your branch), and Today’s Debits total $10 (you took out $10 at an ATM). Your available balance would be $115. Note: Other Transactions may be credited/debited to your account throughout the day.