Common use of Available Balance Clause in Contracts

Available Balance. Your Available Balance may fluctuate from day to day because it is dependent upon changes in the bal- ance in your Account. Your Available Balance may differ from your Free Credit Balance and Combined Asset Value. Shortly after BNY Mellon is notified of a Transaction, your Available Balance is reduced, not when a sales draft or Cash Advance draft is paid. For example, your Account may be debited (and Available Balance reduced) on the day an item is presented by electronic or other means, or at an earlier time based on notifi- cation received by us that an item drawn on your Account has been deposited for collection at another financial institution. When you use your Card, the charge or reduction to your Available Balance generally occurs immediately, and you understand (with the exception of preauthorized Card Transac- tions) that you have no right to stop payment on most Card Transactions. You understand that Authorizations will reduce your Available Balance by the amount of the Authorization even if the Authorization does not result in a Transaction. Note that an Authorization will reduce your Available Balance until the Transaction is completed in whole or in part, or after the expira- tion of a time period specified by us.