(Visual Description: Understanding your account balance
Money and Mindset
Truist title and logo)
Speaker 1: How to understand the difference between your posted balance and your available balance.
Checking your account balance regularly is a good way to stay in control of your money.
But figuring out how much money you actually have available can be tough.
Most banks show your posted balance sometimes also known as your current balance, as well as your available balance.
So what should you go by and what's the difference between the two?
Your posted balance is the total amount of money in the account.
It includes every transaction that's posted, all the money that's gone out called debits, and the money that's come in called credits.
(Visual Description: Balance sample displays Transactions:
Groceries -$215.57
Car Payment -$364.89
Paycheck +900
Posted Balance $969.54)
But your posted balance isn't always the most accurate view of your money.
Your available balance is a better view of what you can spend.
(Visual Description: Two options are displayed in boxes: Posted and Available. The Available box is enlarged and given a check mark.
Your available balance shows the money in your account, including pending transactions. Those are debits and credits that haven't cleared.
(Visual Description: Balance sample displays Transactions:
Groceries -$215.57
Car Payment -$364.89
Paycheck +900
Mobile -75.63
Pending $969.54
Available Balance $893.91)
Let's say you use your debit card to buy a $7 sandwich.
A pending transaction for the sandwich will instantly be reflected in your available balance, but your posted balance won't update until the transaction fully posts to your bank.
(Visual Description: Two columns are displayed. The first one shows a Posted balance of $100
The second column shows the Available balance of $93
Animations shows the Posted balance matching the Available at $93)
That could take anywhere from one to five business days.
Understanding the difference between your posted balance and your available balance can help you avoid overdrafts and can help you stay on top of your money.
For more tips and inspiration, visit truist.com/moneyandmindset
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