Payable Balance FAQs

  1. What is the difference between a PIN-based and non-PIN based transaction?
  2. Why are the funds deducted from my Available Balance immediately when I'm not using my PIN number?
  3. Will all non-PIN transactions immediately reduce my Available Balance?
  4. Why do the holds show every day on my account?
  5. Why are Pending Transactions not deducted from my Running Current Balance listed in the Posted Transactions section on the Account Activity screen?
  6. Why did my Visa Check Card Pending Transaction drop off the system before it posted to my account?
  7. What is the difference between Current Balance, Running Current Balance, Payable Balance and Available Balance?
  8. Why was I assessed an overdraft fee when the Running Current Balance in the Posted Transactions section on the Account Activity screen was not negative?
  9. Why was I assessed an overdraft fee when my Available Balance in Online Banking was not negative?
  10. A non-PIN transaction showed pending but the transaction never appeared as a Posted Transaction. Why was I assessed an overdraft fee?

1. What is the difference between a PIN-based and non-PIN based transaction?

If you use your Visa Check Card and enter your 4-digit Personal Identification Number (PIN) using the merchant’s keypad, you are making a PIN-based transaction which will immediately be deducted from your Available Balance. You may also choose to use your card without using your PIN at some merchants as well as online and by phone. Depending on the merchant, these may be reflected in your Pending Transactions and deducted from your Available Balance immediately or they may be processed on a subsequent banking day.

 Back to Top

2. Why are the funds deducted from my Available Balance immediately when I'm not using my PIN number?

When you use your Visa Check Card for purchases, the merchant requests us to authorize your transaction. We reserve those funds by placing a hold on your account for the amount of your purchase. The transaction will be shown as a Pending Transaction, and your Available Balance will be reduced by that amount.

 Back to Top

3. Will all non-PIN transactions immediately reduce my Available Balance?

No. Authorizations from certain merchant types may differ from the actual transaction amount. For example, some restaurant merchants automatically increase the authorization amount by up to 20% to include a tip. Hotels may estimate the amount of the transaction for purposes of obtaining an authorization. Authorizations from these merchant types will not immediately reduce your Available Balance and will not be shown as a Pending Transaction in Online Banking. However, non-PIN transactions from most types of merchants will immediately reduce Available Balance.

 Back to Top

4. Why do the holds show every day on my account?

After you make a non-PIN transaction we reserve those funds by placing a hold on your account for the amount of your purchase. The hold amount will remain on your account until the final purchase is submitted by the merchant and is posted to your account or until (no more than) three business days after the transaction date. The transaction will show in the Pending Transactions section until it is posted, or until the hold is released.

 Back to Top

5. Why are Pending Transactions not deducted from my Running Current Balance listed in the Posted Transactions section on the Account Activity screen?

Your balance listed in the Posted Transactions section represents your Running Current Balance on a designated day. Your Current Balance is the balance on your account that is updated every business day from the transactions that have cleared your account and does not reflect any holds or pending transactions.

 Back to Top

6. Why did my Visa Check Card Pending Transaction drop off the system before it posted to my account?

We consider a hold to be expired when the merchant does not submit the item for posting within (no more than) three business days after the transaction date. However, even though a hold may expire, the merchant may still, at any time, submit the transaction for posting to your account. You are responsible for an authorized Visa Check Card transaction that posts to your account even if the hold has expired and the Pending Transaction was dropped from Online Banking.

 Back to Top

7. What is the difference between Current Balance, Running Current Balance, Payable Balance and Available Balance?

  • Your Current Balance is the balance of your account that is updated every banking day by the transactions that have posted to your account and does not reflect any holds or Pending Transactions.
  • Your Running Current Balance is the balance of your account as items post during overnight processing and is re-calculated for each item as it posts. Running Current Balance is calculated by taking that banking day’s Current Balance and adding each credit, then subtracting each debit received during that banking day. The Running Current Balance calculated on the last item to post during overnight processing is the Current Balance for the next bank day.
  • Your Available Balance is your balance that is currently available for use. It equals your Current Balance minus all holds including VCC Pending Transactions and will include deposits you made after the banking day cut off time (the funds from these deposits will not be used to pay debits posting that night.)

Your Payable Balance is used to determine whether or not your account had sufficient funds at the time a transaction posts to your account. Payable Balance is calculated based upon the Running Current Balance. Payable Balance is also re-calculated for each items as it posts. Payable Balance equals the Running Current Balance, calculated for each item, minus all holds, including Visa Check Card authorizations from Pending Transactions.

Deposits made after the banking day cut off time are not included in Running Current Balance or Payable Balance. Holds for non-PIN Visa Check Card transactions will remain on your account until the purchase is submitted by the merchant for payment and is posted to your account, or until (no more than) three business days after the transaction date. If your Payable Balance is negative after a debit item posts to your account, an overdraft or non-sufficient funds situation will occur.

 Back to Top

8. Why was I assessed an overdraft fee when the Running Current Balance in the Posted Transactions section on the Account Activity screen was not negative?

When you make a non-PIN transaction using your Visa Check Card, we reserve those funds by placing a hold on your account for the amount of your purchase. These holds are reflected in your Payable Balance which can be viewed by clicking the link in the “Running Current Balance” field on the “Account Activity” screen. If your Payable Balance is negative at the time a debit item posts to your account, an overdraft or non-sufficient funds situation will occur.

 Back to Top

9. Why was I assessed an overdraft fee when my Available Balance in Online Banking was not negative?

Your Available Balance will reflect deposits made after the banking day cut off time. However, the funds from these deposits are considered deposited on the next banking day and will not be used to pay debits posting to your account that night. So, as your Payable Balance is calculated during overnight processing, the next banking day deposits are not included, which could lead to an overdraft of non-sufficient funds situation. You can view your Payable Balance at the time of a transaction by clicking the link in the Running Current Balance field on the Account Activity screen in Online Baking.

 Back to Top

10. A non-PIN transaction showed pending but the transaction never appeared as a Posted Transaction. Why was I assessed an overdraft fee?

There may be instances when a merchant submits an authorization, placing a hold on funds in your account. If the hold amount is greater than your Payable Balance, an overdraft will result and a fee may apply, even if the merchant does not submit an item for final posting. If you feel your account was assessed an overdraft fee in error, please contact one of our Customer Service Representatives for further assistance at 1-800-453-2265.

 Back to Top