"Available balance" is the funds in your account that are available to you at any given time. This includes any funds that have been deposited into your account, as well as any funds that have been cleared for withdrawal. It does not include any funds that are currently being held by the bank, such as funds that have been deposited but have not yet cleared.
Does a negative balance mean you owe money? Yes, a negative balance on your bank account means that you owe money to the bank. This can happen if you have outstanding checks or other payments that have not yet cleared, or if you have made withdrawals that exceed the balance in your account. If you have a negative balance, you will typically be charged a fee by the bank.
How long can a bank hold funds? The answer to this question depends on the bank's policies and procedures. Some banks may hold funds for a specific period of time, while others may hold funds indefinitely. If you have any questions about your bank's policies, you should contact them directly.
Can I overpay my credit card to make a big purchase? Yes, you can overpay your credit card to make a big purchase. However, you may want to consider a few things before doing so.
First, you'll need to make sure that the credit card company will allow you to overpay. Some companies may not allow it, so it's best to check with them first.
Second, you'll need to determine if there are any fees associated with overpaying your credit card. Some companies may charge a fee for this, so it's important to find out if there are any fees before you overpay.
Third, you'll need to make sure that you have enough money in your account to cover the overpayment. If you don't have enough money in your account, the credit card company may refuse to process the overpayment.
Fourth, you'll need to make sure that you understand how overpaying your credit card will affect your credit score. Overpaying your credit card can actually hurt your credit score, so it's important to understand how it will affect your score before you overpay.
Overall, overpaying your credit card can be a good way to make a big purchase. However, you'll need to make sure that you understand the process and the potential fees before you overpay. Can you spend available balance? Yes, you can spend your available balance. This is the money that is in your account and can be used to make purchases or withdrawals. Does pending payment mean paid? Pending payment means that a payment is being processed. The payment has not yet been completed, but it is in the process of being completed.