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11/22/2017 10:05:29 PM
Posted: 10/24/2004 10:39:30 AM EST
I have a question concerning ATM and Banks.


How come I can have a "Available" balance of 0, and "pending" balance of a few $1k and still be able to recieve money from the ATM machine?

I thought if the "available" balance was 0 I wouldn't be able to get anything out.

Am I missing something?


SGatr15
Link Posted: 10/24/2004 10:44:54 AM EST

Originally Posted By sgtar15:
I have a question concerning ATM and Banks.


How come I can have a "Available" balance of 0, and "pending" balance of a few $1k and still be able to recieve money from the ATM machine?

I thought if the "available" balance was 0 I wouldn't be able to get anything out.

Am I missing something?


SGatr15



SGatr15:

I am your banker. Sorry for the inconvenience. Email me with your account number and password and I will straighten this out for you.
Link Posted: 10/24/2004 10:45:26 AM EST
its a world bankers conspiracy
Link Posted: 10/24/2004 10:57:56 AM EST
it means that you have funds inbound (a direct payroll deposit or other electronic transer, i.e. paypal), which have had their source comfirmed, but have not yet posted to your account.

In banking is standard that the department that handles transfer operations is not able to directly post transactions to customer accounts...it's a firewall of sorts. Instead, they post a "memo" to an account indicating that funds have been received and comfrimed. If the department (or electronic system) that is able to credit and debit customer accounts is not open or online, the transaction will not be processed, instead, the memo is noted so that the customer can have access to the funds and the receiving bank can more quickly record the transactions and charge it's transaction fee to the sending banks. It's all about speeding up the flow of funds.
Link Posted: 10/24/2004 11:00:05 AM EST
I t may also be that you have an open credit line, whether you know it or not.
Link Posted: 10/24/2004 11:00:53 AM EST

Originally Posted By Emoto:
I t may also be that you have an open credit line, whether you know it or not.




How do I find out. My ATM card has the Visa symbol on it.


SGatr15
Link Posted: 10/24/2004 11:29:45 AM EST
My bank allows you to overdraw on an ATM transaction, then hits you with an NSF fee, just like if you bounced a check. No notification that the withdrawal is more than your available balance or option to decline, of course.
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