Being familiar with your current and available balance and understanding the difference between them can potentially help you to avoid overdraft situations.

Why do I have a current balance and available balance? 

Your current balance shows the total amount of money currently in your account, but may not reflect recent transactions that are still processing. Your available balance reflects any incoming or pending transactions that may not have posted yet.

Why do my current balance and available balance not match? 

You may notice that sometimes your current and available balance are different. This can happen when you have recently made a purchase or bill payment, have funds coming into your account or have deposited a check that is on hold. 

For example: Sofi’s current balance is $100, and she makes a purchase with her debit card for $30. Her current balance stays at $100, but her available balance updates to $70. After 1-3 days, her charge fully processes, and her current balance updates to $70.

Another example may be a direct deposit such as your regular paycheck or Social Security benefits coming into your account. You may see the deposit show in your current balance, but not your available balance. In this situation those funds cannot be spent or transferred yet; once the deposit reflects in your available balance, your funds are ready to use.

Which balance should I pay attention to?

While you should generally be aware of both, keeping track of your available balance can help you to avoid overdraft situations. Your available balance is usually a more accurate reflection of what is readily available to use in your account. However, be mindful of any checks you have written, bill payments scheduled or purchases that do not show in online banking yet; these items may not be included in your available balance.