In this article, we’re comparing current balance vs available balance and what these mean in the context of US banking.
This will be relevant for US persons as well as foreign non-residents who can meet the new customer requirements set out by US banks.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Current Balance vs Available Balance
- How Do I Find My Current Balance?
- How Do I Find My Available Balance?
- Frequently Asked Questions
- Ready to Open Accounts With Banks in the USA?
Current Balance vs Available Balance
The main difference between the current balance and the available balance is that the current balance includes pending transactions while the available balance only includes the funds currently available to you.
In other words, the current balance is your total balance including withdrawals that have not left your account and deposits that are still pending (held) by the bank. On the other hand, the available balance is the amount of money that is currently available to you to spend at any given moment.
Of course, if you are using other non-deposit products like money orders or cashier checks, you may not be able to review the balance of these products directly unless the issuer offers an online platform to monitor transfers.
Before diving in any further, if this is your first time visiting GlobalBanks, don’t forget to download your FREE US Banking Starter Guide. It’s designed to help non-residents with opening bank accounts at top financial institutions in the US.
How Do I Find My Current Balance?
You can find your current balance in several locations.
First, you can find your current balance by logging into your online banking, which will display both your current and available balances.
Second, you can use your bank’s mobile banking application to confirm the total amount available in your account, plus the value of any pending withdrawals or deposits.
Next, you can visit a bank ATM and request a balance update, which will display both your available and current balance.
Lastly, you can visit your bank in person and ask a teller to assist you with confirming your current balance.
How Do I Find My Available Balance?
You can find your available balance in several locations as well.
First, you can find your available balance by logging into your online banking, which will display both your current and available balances.
Second, you can use your bank’s mobile banking application to confirm the total amount available in your account.
Next, you can visit a bank ATM and request a balance update, which will display both your available and current balance.
Lastly, you can visit your bank in person and ask a teller to assist you with confirming your available balance.
Frequently Asked Questions
Below are three of the most common questions we receive from people looking into a current balance vs an available balance. If you have further questions you would like to ask our team, don’t hesitate to get in touch.
Why Are My Available Balance and Current Balance Different?
Your available balance and current balance can be different for a number of reasons. These reasons include that you currently have a pending deposit, a check that is held, or a withdrawal that has been scheduled but not yet withdrawn.
Do I Go Current or Available Balance?
When it comes to assessing your bank account, you should consider the available balance and not the current balance. This is because the available balance refers to the funds that are immediately available to you to make, rather than the funds that may be pending withdrawal or held for deposit.
Does the Current Balance Mean I Have to Pay?
No current balance does not mean that you have to pay. Instead, it refers to the total amount that is in your account and readily available for use in addition to any balance that is pending withdrawal or deposit.
Ready to Open Accounts With Banks in the USA?
If so, you can get access to GlobalBanks USA (our dedicated US banking service) in just a few clicks.
GlobalBanks USA is a 100% personal account opening solution. It provides direct access to our team of US banking experts.
When you join, you receive…
+ Expert suggestions on where to open US bank accounts.
+ Step-by-step support to navigate opening US bank accounts.
+ Direct introductions to helpful and responsive bankers.
+ Plus, detailed guides to maximizing the value you get from your new US bank account.
And “yes!” GlobalBanks USA helps foreigners and non-resident individuals open bank accounts.
In fact, GlobalBanks USA even helps non-resident US LLCs and foreign & offshore entities.
To learn more about GlobalBanks USA, visit the product page to see how our team can help you successfully open US bank accounts!
