Definition of Available funds:
An account holder's available funds may differ from the current balance as the latter generally includes any payments that are pending. Until these incomings and outgoings are cleared by a bank, customers are unable to conduct transactions with them.
Funds held by a bank which it can use for loans or other investments.
Available funds is money in a bank account that is accessible for immediate use. In other words, it represents the total amount of capital that can be withdrawn at an automated teller machine (ATM), used to make purchases with a debit card, write a check, transfer money and pay bills.
How to use Available funds in a sentence?
- That means that available funds may differ from the current balance, a separately displayed sum which also accounts for any pending payments yet to be cleared.
- Available funds are immediately accessible for use in one's financial account.
- Some transactions may not be processed instantly, though, including incoming wire transfers and checks, which usually take two business days to deposit.
- Any transactions that take place in the account will thus impact the amount of funds available.
Meaning of Available funds & Available funds Definition