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Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by DaV8King(m): 1:45pm On Jun 07, 2017 |
Hello House! This question is directed specifically to bankers with Diamond Bank experience, as they are the ones I have this issue with. All are however welcome to contribute Why is it that this bank in particular has 2 different balances on 1 account? With the available being a LOT lower than the total balance, on a normal savings account?! 1 Like |
Re: Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by Olayinka777(m): 2:31pm On Jun 07, 2017 |
My brother I am also confused o! I recently opened a cooperate account with them. When I saw it too I was totally lost. |
Re: Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by aioluwa: 4:14pm On Jun 07, 2017 |
You can access available balance anytime. However, total or the difference between total and available balance can only be received if the account is closed |
Re: Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by Olayinka777(m): 7:32pm On Jun 07, 2017 |
OK thanks |
Re: Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by DaV8King(m): 12:23pm On Jun 09, 2017 |
aioluwa: I see. Thank you so much |
Re: Available Balance Versus Total Balance?! Nigerian Bankers Please Answer by ferhyntorlah(f): 1:23pm On Jun 09, 2017 |
Total balance is the whole amount of money present in the account. Available balance is the amount of money that can be withdrawn from the account. Total balance - Available balance = the minimum amount that must remain in the account. For example, if the minimum balance that must be left in an account is #1,000 and you have a total of #2500 in the account, the amount you can withdraw (available balance) is #1500 (#2500 - #1000). Remember some accounts, especially savings accounts can't be left empty. You must left something behind, which is the minimum balance. Compared to current account, you can withdraw everything with #0.00 as balance but not with a saving account. It varies from bank to bank. Some banks allow #0.00 balance in a savings account while some don't. 1 Like |
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