Keep in mind that there are a few things that are not included in your available balance such as checks you've written that we haven't received yet and upcoming automatic payments. Your available balance incorporates any holds on your account, such as holds for debit card transactions we've authorized, and deposit holds. Your available balance is updated throughout the day based on your account's activity. The amount of money in your account that is available to spend, withdraw or cover transactions. Automatic paymentĪn arrangement that automatically deducts funds from your account (usually a checking account checking account ) on the day you choose in order to pay a recurring bill (such as car, insurance, mortgage payments, etc.). Automatic funds transferĪn arrangement that automatically moves funds from your account to another on a date you choose for example, every payday. Automated Clearing House (ACH)Ī nationwide funds transfer network that enables participating financial institutions to electronically credit, debit and settle entries to bank accounts. Includes both interest paid on the amount held in the account, as well as compounded interest for the year. The total amount of interest paid by the bank on your deposit account ( checking checking, savings, CDs, IRAs) during the year. Affinity debit cards have all the same benefits as standard Bank of America debit cards and are available with eligible checking accounts.
Affinity debit cardĪ debit card issued in affiliation with a participating organization (for example, a charity or sports team). Active AccountĪn open bank account in which transactions can be made usually an account that has had activity within the last 3 years. Account StatementĪ printed or online statement of all the funds paid out by or paid into your account during a statement cycle. The amount of money in an account at the start of the business day, including all deposits and withdrawals posted the previous night, whether or not the funds have been collected.
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