When you call or go online to check your account balance, you may see two different amounts reflected – your Current Balance and the Available Balance.
Current Balance – The amount of money that is in your account at any given time. It reflects transactions that have posted to (cleared) your account, but not items that are outstanding.
Example of Current Balance: If you have a $100.00 current balance and you wrote a check for $60.00, then your current balance will show $100.00 because the current balance does not include the pending check transaction which has not yet posted. While your current balance is $100.00, you have already spent $60.00.
Available Balance – The amount of money in your account that is available for you to use. The available balance includes holds placed on deposits and pending transactions (such as pending debit card purchases) that Orlando Credit Union has authorized but have not posted to your account.
Example of Available Balance: If your current balance and available balance are both $100 and you swipe your debit card at a restaurant for $35, the merchant could ask the credit union to preauthorize the payment. We would place a “hold” on your account for $35. Your current balance is still $100 because the debit card transaction has not yet posted to your account; however, your available balance would be $65 because you have already authorized the $35 payment to the restaurant. When the restaurant submits the transaction for payment (which could be a few days later and could be for a different amount if you have added a tip), the credit union will post the transaction to your account and your current balance will be reduced.