The current balance in a bank account is the amount in the account at the start of a business day. The available balance is what the account holder can actually withdraw at a given point in time, according to Mutual Savings Credit Union.
First Tennessee indicates that some direct wire transfers and online bill payments automatically reduce an account holder's current balance. Other transactions, such as debit payments, processing checks and automatic drafts do not immediately affect the current balance. They do reduce the available balance so that the account holder is not able to go over the account limit when making a withdrawal or payment.Learn More
The ledger balance in a checking account is the balance of the account once the total number of debits are subtracted from the total number of credits within a given account period, as Investopedia explains. The ledger balance includes all checks or transactions that have not yet cleared, says Trustmark.Full Answer >
Nominal income is the amount of an employee's salary that is paid in cash, whereas real income is the amount the employee receives after accounting for inflation. This means that the nominal income is always the highest of the two figures. Even when an individual has access to more money, her purchasing ability may be low because of inflated prices.Full Answer >
Cashing a money order is completed by depositing it in an existing bank account or using the direct issuer to cash the money order, according to My Bank Tracker. The process is similar to cashing a personal check, and valid identification is required. Wikipedia suggests using check cashing stores, convenience stores and grocery stores in the United States as additional options for cashing money orders.Full Answer >
Chrysler Financial offers its customers the ability to pay bills each month via an automatic deduction from a bank account. Customers can pay each month's bill this way, except for the final payment. Chrysler Financial mails customers a statement for the final payment.Full Answer >