Available balance versus current balance?

Here is what they are doing:

Previous balance - 19.01

+ deposit +60

= avail balance 40.99

+ savings depo +18.12

= avail balance 59.11

Technically, you are in overdraft because your current balance is negative, howver if your bank clears the deposits fast (which they should because it is cash) you will be ok. I would call the bank and ask them for a courtesy hold to avoid an overdraft fee. You might alwo want to put in another $2 or so from your savings, because if the savings is at the same bank they should give you instant credit on that deposit.

In the future, you may want to keep a cushion of $50 or so on your account that you never touch, so you don't have to worry about possible overdrafts.

you will have an overdraft fee likely from the $-19.01 balance at end of day yesterday. I am afraid your $60 deposit may have been after their cut off. I would call and plead with bank. Your cash deposit yesterday should have prevented the overdraft position.

Do not be surprised to see a $35 overdraft fee tomorrow morning related to it.

You really need to ask the bank - the rules that govern overdrafts vary from one bank to another.

But you should understand that making a deposit into your account does not make that money available immediately. Banks have a 'float' system that requires that deposits be resident in their system for varying lengths of time before they are available for withdrawal. The rationale they provide is that if the deposit is in the form of a check, they need to wait for that check to clear before they can be assured that it is a legitimated deposit.

There was a case mentioned in our local newspaper just yesterday in which a lawyer made a deposit at a local bank on behalf of an overseas client and then authorized a transfer to an overseas bank. Only later did he learn that the check he had received from his client was bogus and the transaction was actually fraudulent. The lawyer and the bank are now in a dispute about who is responsible for the US$500,000 amount of the overseas transfer. So the rationale has some legitimate basis.

But what banks don't tell you is that they also make money on the float. The period of time that they require that deposits be resident before withdrawals can be made is generally longer than the time for the deposit to actually clear, and during that time the bank is earning interest on your money. So banks want the float period to be as long as possible to maximize their revenue.

Here in New York, banks are forbidden by law from imposing float requirements on payroll checks issued by businesses operating in New York. The rationale that is to assure that employees have access to their pay immediately.

once you call infor your stability you additionally can ask on your modern-day transactions and it will inform you in the journey that your examine replaced into deposited or no longer. What it sounds to me like is your examine did arrive for $340 and you had $3 in there earlier so hte finished you ought to use is $343 (whether you ought to no longer use all of it or it rather is going to close your account or provide you an NSF). i like to flow away $5 in there.

This is why they invented 800 numbers. Every bank works differently. Call your bank's 800 number and ask them what it means. Then you'll know for certain.