What is available balance? What's different from the current balance?

What is available balance? How to check available balance? How is available balance different from account balance? These are questions that a lot of people are still confused about. So what is the available balance? How is it different from the actual balance? Together banktop.vn Find out through the content of the article below.

What is balance?

A bank account balance is the amount of cash left over in a checking, savings, or other investment-related account. However, you can't use as much of your account balance as you can, which is why there is a definition of "available balance".

What is available balance?

Available balances is the amount in ATM card or a savings account where customers can withdraw cash at an ATM or directly at a bank branch. “Available” here can be understood as usable. The available balance is also used for card payments in shopping transactions.

What is available balance?
Ways to help check your available balance

In simpler terms, available balance is the amount that you can transfer, withdraw or pay bills equal to or less than (depending on bank regulations) of that available balance that cannot be used all available funds.

For example, if you have an amount of VND 50 million in your account, the available balance that you can use for payment or withdrawal will be less than VND 50 million if the bank has a minimum balance requirement of VND 50,000.

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Distinguish between available balance, account balance and current balance

Available balance and account balance

Available balance and account balance are two different concepts and should not be confused by customers.

  • Available balance is the balance that you can use.

  • Account balance is the actual balance of the account before deducting the blockade or minimum amount to maintain the account.

Available balance with current balance

The most obvious difference between available balance and current balance is that the available balance will be updated immediately after you make a transaction and your transfer and withdrawal will depend on this number. The current balance will be updated by the system once a day, so when you check, the two balances will often have a difference.

Find out what is the grace period of the principal?

What is the formula for calculating available balance?

We have the following general formula for calculating the available balance:

Available balance = Actual balance + overdraft limit (if any) – blocking amount – minimum balance

In there:

  • Actual balance: Is the amount of money you currently have in your bank account.

  • Overdraft limit: as in the article "What is overdraft?” was previously sent to you by Banktop. Overdraft limit is the amount that the customer is allowed to use when the account balance is at 0.

  • Amount of blockade: is the amount of money in the customer's account that is blocked by the bank and cannot be used

  • Minimum balance: is the minimum amount required in the card to maintain operations, many banks only keep 50,000 VND to maintain, but with banks, this amount is relatively high.

3+ The fastest and simplest way to check available balance

There are many ways to check your available balance, and here are the 4 most popular ways to check your balance in descending order of convenience!

Check available balance using Internet Banking

This can be considered the simplest and fastest way to check the available balance in your account. You just need to register iinternet banking and have a phone on hand and access to your internet banking account and check your balance easily by following these steps:

  • Step 1: Log in to the Internet Banking page with your account and password.

  • Step 2: Select the account to check available balance and tap details.

  • Step 3: Check the account information in the returned results.

how to check available balance
This is the most common way to check available balance


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Check available balance on Mobile Banking

Almost all major banks such as Vietcombank, VPBank, Techcombank... all develop their own banking applications. And when opening an account, customers will be guided to install and use this application.

To be able to check the available balance, customers only need to log in to the Mobile Banking application to check.

Check available balance at ATM

This is a form of balance check for customers who do not understand technology but are afraid to go to the bank to check. Just do a few simple steps at the ATM as follows:

  • Step 1: Insert the card into the card reader slot, select Vietnamese language.

  • Step 2: Enter the ATM card PIN.

  • Step 3: Select Account Information in the Options Menu.

  • Step 4: Check your account balance at the results screen or print a receipt to check.

Check available balance at a bank branch

This is a traditional test and at the present time very few people still use this test. To do this, customers need to bring their ID card to the transaction counter where the account is opened to ask the teller department to check the available account balance according to the following steps:

  • Step 1. First, you choose the location of the nearest branch or transaction office.

  • Step 2. Line up to get a number, show personal papers.

  • Step 3. Ask the banker to check the available balance.

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What is available balance? How to check available balance? The answer has been answered in the article. Hope you have all the necessary information about this information to be able to check the available balance as quickly as possible.

Information edited by: banktop.vn

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