What is available balance? (TD bank, US)?

Let's say I have $50 in my checking account. I deposited $200 of cash money in the ATM machine. I then get a receipt that says I have $150 of available balance. Where did the rest of my money go?

2 Answers

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  • 1 decade ago
    Favorite Answer

    This is an anti-theft measure installed by the banks.

    Originally when ATMs were made, it was possible to take blank envelopes, "deposit" them, (claiming they held cheques or actual money for any desired amount) then immediately withdraw your "cheque" from your total balance. To prevent this from happening the banks originally wanted to make all deposits require a few business days (so someone could check that you'd actually put money in.) However, while this protected them, it made many consumers mad, because they might need some of their paycheque the same day they received it. So instead the banks compromised: now any deposit that is not made at the counter is held for a few business days for someone to make sure it is legitimate. Meanwhile, the machine allows you to withdraw approximately half of what you claimed you deposited ($100 in your case) and holds the rest until the someone clears it. This usually only takes 1 day or so (unless you deposit on the weekend, then it may take until Monday.)

    So the money hasn't been taken, nor did it go anywhere. It will be added to your account as soon as someone opens the machine up and verifies that you've actually received and deposited that money.

    Source(s): Mom told me the story and the counter measures from her time working as a bank teller.
  • 4 years ago

    Td Bank Available Balance

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