Your Account Balance Sample Clauses

Your Account Balance. Your account has two kinds of balances: the actual balance and the available balance. Both can be checked by reviewing your account online, at an ATM, by phone or at a branch. It is important to understand how the two balances work so that you know how much money is in your account at any given time. The actual balance is the amount of money that is actually in your account at any given time. It reflects transactions that have actually posted to your account but not transactions that have been authorized and are pending. While the term “actual” may sound as though the number you see is an up-to-date display of what is in your account that you can spend, that is not always the case. Any purchases, holds, fees, other charges or deposits made on your account that have not yet posted will not appear in your actual balance. For example: If you have a $50 actual balance, but you just wrote a check for $40, then your actual balance is $50 but it does not reflect the pending check transaction. So at that point, you actually have $50, but you have already spent $40. Your available balance is the amount of money in your account that is available to you to use without incurring a non-sufficient funds (NSF) or WeGotYa/courtesy pay or overdraft fee. The available balance takes into account things like holds placed on deposits, pending transactions (such as pending debit card purchases) that have been authorized for the merchant but not posted to your account, authorized automatic bill payments and other outstanding transactions that have not posted to your account. For example: Assume you have an actual balance of $50 and an available balance of $50. If you were to use your debit card at a restaurant to buy lunch for $20, then that merchant could ask us to pre-authorize the payment. In that case, we will put a “hold” on your account for $20. Your actual balance would still be $50 because this transaction has not yet posted, but your available balance would be $30 because you have committed to pay the restaurant $20. When the restaurant submits its bill for payment (which could be a few days later), we will post the transaction to your account and your actual balance will be reduced by $20. The available balance is the balance used to determine if items are subsequently presented against insufficient funds or the amount that would overdraw your account and incur fees. You may be charged an NSF or WeGotYa/courtesy pay or overdraft fee for a transaction based on the avail...

Your Account Balance. (a) Your Account or Premier Account will reflect direct deposits of your FSA Credit Balance from School (“FSA Loads”) and any permitted Retail Loads and ACH Loads made by you should you upgrade to a Premier Account (as such terms are defined in Section 16, less transactions and those fees and charges in the Fee Schedule. If you request a Money Network Check from your Account or Premier Account and do not redeem it within 180 days, the Money Network Check will be cancelled and the funds will be added back into your Account or Premier Account.