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Making Sense of Available Balance

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Transcript: Wells Fargo presents - Making Sense of Available Balance

It's a typical busy day. You're on the go, buying gas, groceries…getting things done. As you continue to make purchases, it's important to be aware of the available balance in your checking account. Your account's available balance is the most current record the bank has about the amount of money available for your next purchase or for you to withdraw.

It can change throughout the day, as money moves in and out of your account, because it also includes your pending transactions. But it's important to remember that your available balance includes only the transactions Wells Fargo knows about. Make sure you consider other transactions you may have made that we aren't aware of yet. For example, the check you sent your niece for her birthday that hasn't cashed yet, or your gym membership that is scheduled to be paid automatically from your account in a few days.

For debit card purchases, the bank may not know the final amount of your purchase. For example, if you use your debit card while dining out, the original amount authorized for the meal can change with an added tip.

So as you can see, the variety of ways you spend money influences your available balance. And that makes it very important for you to keep track of your spending. Here are some tips:

  • Keep track of all your transactions.
  • Set calendar reminders for any automatic payments.
  • Use online banking to compare your records to ours.
  • Check your balance before making purchases.

Smart but simple money management strategies like these will help you avoid overspending.

You can find your current available balance in online banking, by using the Wells Fargo Mobile app, sending us a text, or giving us a call. And remember-- always factor in transactions that haven't been paid yet when you are trying to decide whether you have enough money for that next purchase.

Have more questions about this? Or any other banking topic? Stop by your local Wells Fargo for a conversation with your neighborhood banker.