Concerned: Does anyone know why my ASB shows a balance and a an available amount?

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Forums › Finance and wealth management › Concerned: Does anyone know why my ASB shows a balance and a an available amount?

NglButiLoveTechnolog

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#317510 23-Oct-2024 02:02

Hey everyone,

I’m new to ASB, and I’ve noticed something confusing with my account. My balance shows $392.25, but the available amount is only $275.60. I’m not sure why there’s a difference, and none of the other banks I’ve used do this.

Does anyone have an idea what might be causing this? I’d really appreciate any insights or advice from those more familiar with ASB or banking in general! Thanks in advance for your help!

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#3300175 23-Oct-2024 04:46

Check if you have any pending transactions as some merchants have longer delay than others.

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#3300179 23-Oct-2024 06:57

Scroll down. Look for pending transactions. These will be paywave transactions (processed in the same way as credit card transactions, I believe) that have yet to be fully processed.

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#3300180 23-Oct-2024 07:05

Did you have a quick look at the ASB website?

All NZ banks work this way.

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scuwp

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#3300181 23-Oct-2024 07:07

Yeah, something hasn't been fully processed yet. Either a deposit hasn't been cleared or a payment has yet to come out. Most banks as far as I am aware do this. Just a timing thing perhaps. Go into your statement page...you should see something pending.

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#3300188 23-Oct-2024 07:59

Good to see that the original excessively long thread title has been edited to something more sensible.

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Eva888

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#3300197 23-Oct-2024 09:11

The available balance is how much is left for you to spend to either reach your card limit if it’s a credit card, or the cash that remains deposited in your Streamline account for you to spend. As above any purchases that you have made but merchants have not yet claimed into their accounts may be marked pending but the bank still deducts that amount from your balance to show what’s available for you to spend.

You aren’t the only one that has been confused by the format. You will get used to it. Just make sure you only spend the 'available' amount.

edited for clarity

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#3300199 23-Oct-2024 09:22

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#3300266 23-Oct-2024 09:59

Removed unnecessary off-topic replies that aren't helping and moved to correct sub-forum.

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#3300324 23-Oct-2024 10:18

Handsomedan:

See above.

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coffeebaron

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#3300486 23-Oct-2024 13:21

Also same if you have an overdraft; e.g. you may have a balance of $500 and an available balance of $1500 if you had a $1000 overdraft facility.

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MadEngineer

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#3300498 23-Oct-2024 14:11

Wait, there are banks that don’t do this?

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#3300504 23-Oct-2024 14:34

@Madengineer - Correct.

Most accounts won’t have an overdraft associated with them so a $0 balance = $0 available.
A lot of student accounts used to have an interest free overdraft where it’d show as $0 balance = $1000 available.

An unarranged overdraft would never ‘appear’ as available balances. However I think the CCCFA may have changed the way overdrafts work/exist. It would surprise me if unarranged OD’s are a thing these days.

For the OP, this isn’t the case as the available balance is lower than the balance… my money would be on a pending debit card (eg. visa/mastercard) or self-serve fuel pump (although those have become rather quick to update these days) transaction.

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Goosey

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#3300589 23-Oct-2024 15:57

MadEngineer: Wait, there are banks that don’t do this?

yeh, I’ve never noticed this with ANZ. My balance is the balance….transactions however somtimes show as pending but the balance is correct.

richms

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#3300611 23-Oct-2024 17:33

Goosey:

MadEngineer: Wait, there are banks that don’t do this?

yeh, I’ve never noticed this with ANZ. My balance is the balance….transactions however somtimes show as pending but the balance is correct.

Sounds like they are showing you the available amount and calling it a balance. This is why people incorrectly think that fuel stations are taking their money when doing a pre-auth.

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MadEngineer

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#3300619 23-Oct-2024 18:01

Of course accounts that this won’t apply to won’t show that. The posts above me suggested that this was a per bank thing, not a per account thing.

You're not on Atlantis anymore, Duncan Idaho.

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