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both instances are normal.. amount is adjusted after verification and manual posting.. which means when WHT is manually posted and the funds are cleared after 2 days and cheque posting
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But how can uncleared funds be added to available balance ?
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Current balance - Your total balance Available balance - Balance available to do transactions WHT is held for submission to tax authorities. Cleared cheques aren't made available till funds are cleared.
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Mate I know all of that. Have been using bank accounts for a long time. I don't understand WHY is there's a different current balance and available balance in HBL when there's no such thing in accounts I hold with Meezan, Faysal and Habib Metro. Secondly why is the amount of WHT put on hold and not deducted by HBL right away like Meezan, HMBL and Faysal do ? Why are my uncleared funds from another bank are included in the Available balance when they are uncleared ? Ab answer karo isko.
Furqan Shafi please visit your concerned branch to get all your answers. :p
Bro you're not there anymore in my nearest branch :(
Furqan Shafi dear hbl deducts wht on end of day thats why they hold the amount incase any reversal occurs etc ... While your other question ..when the amount is credited in your account via clearing it will show in current balance thats their core banking practice
Difference current and available balance is maintained everywhere. Some call it shadow balance, some notional. I guess only HBL is showing it. WHT is probably deducted at day end, thats why held. Will ask around And you said uncleared are NOT shown in available. It wont. Its in current cus uve deposited the cheque, once it clears it becomes available
Yes and now it's showing in Available balance and also in uncleared funds. That's even more bonkers.
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