Can Anyone Eplain Banking To Me?

[Tee2072]

That was a bit vague. So here's the scenario:

I have an overdraft of £1,000 that, unfortunately, I nearly used up this month, leaving me with £150.

Fortunately one of my clients finally paid me. They paid me £1,400 which I immediately put into my current account to pay off the overdraft.

Now, to me, I would think that my account would now say:

Available Balance = £400 (the amount over my overdraft)
Account Balance = £1,400 (The amount including my overdraft)

So why does it say:

Available Balance = £600 (Really???)
Account Balance - £1,500 (huh?)

No other payments have gone into the account other than the £1,400.

Anyone?!?!?

What about the £150?

So your overdraft still had £150 left which meant
-850
+1400
= 550.

So different numbers again. ignore me!

Exactly, Harriet! If had been £550, I would have understood. But it was somewhere around £600!

You should be £550 in credit. But did you pay in a cheque? If so it may not have cleared meaning your available balnce would be less than the account balance

No, it was a direct transfer.

I just checked. I'm £604.66 in credit. Where did the extra £50 come from?!? (Not that I'm complaining, just confused!!)

I'd call your bank. The day my balance made no sense, that's what I did. Turned out that deposits are credited at different times of day to debits leaving my account. DDs out of the account are delayed if they fall on a non-banking day whereas standing orders to other accounts leave whether it's a banking day or not. There may be some similar timing issues behind what's happening with your account.

Can you go to one of the bank's cash points and print out a mini-statement? I'm assuming you don't have online banking.

Of course I have online banking. That's how I checked the balance last night.

Maybe one of your transactions hasn't come out yet. Check your online statement as debit card payments don't leave your account immediately.