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What is the difference between my current balance, my available balance, and my collected balance?
|Available Balance for Personal Accounts||…is the balance that's currently available to you to make purchases, withdrawals, etc. This balance is updated throughout the day with transactions you make. The available balance reflects any posted and pending transactions, and any holds. It does not include any checks you have written or deposits that have not posted. This balance is used in making payment decisions and determining returned or overdraft item fees. Learn more at www.suntrust.com/thefacts|
|Available Balance for Business Accounts||…is the amount of funds available for immediate withdrawal or use. It is the Current Balance less any pending debit card purchases, any ATM withdrawals, any current day automatic payments, any debit card settlement transactions, deposited checks that have not cleared (two or more days), plus any cash deposits or electronic deposits that are part of the day’s activity.. This balance does not reflect checks or outstanding debit items that have not been presented for payment. A fee may be charged to your account if you withdraw funds that are not available.|
|Current (Ledger) Balance||Your current balance (also called ledger balance) is the actual amount in your account after nightly posting and does not change throughout the day. It does not include holds or pending transactions.|
|Collected Balance||Your collected balance is the same as the current (ledger) balance, except that it does not include any checks you have deposited for which the bank hasn't received credit. Collected balance is used to calculate interest paid on interest-bearing accounts. It is also used to determine whether balance requirements have been met to waive monthly maintenance fees on some accounts.|