Balance
A balance is the amount of money in a bank account at any given time. Banks typically report both the current balance and available balance, which may differ due to pending transactions.
Your bank statement will show opening and closing balances for the statement period. The balance changes with each transaction - deposits increase it, while withdrawals and fees decrease it.
Related Terms
Available Balance
Available balance is the amount of money in an account that can be immediately withdrawn or used for...
Ledger Balance
Ledger balance is the account balance at the beginning of a business day, before any transactions ar...
Bank Statement
A bank statement is a document issued by a financial institution that summarizes all transactions in...
Overdraft
An overdraft occurs when withdrawals from a bank account exceed the available balance, resulting in ...
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