1. What is available balance?
What is Available Balance? It is the amount of money in the account that the customer can use for transactions such as transferring money, withdrawing money, or paying bills . Usually, the available balance will be equal to or less than the actual balance. For example, if your account has 10,000,000 VND, but the bank requires a minimum balance of 50,000 VND, the available balance will be 9,950,000 VND - this is the maximum amount that you can use.2. Distinguish between account balance and available balance
Account balance and available balance are determined based on the regulations of each bank. This means that the amount of money available for the account holder to use will vary depending on the bank where the account is opened. The available balance also depends on the minimum balance that the bank requires to maintain in the account. This is the amount that the customer must deposit when opening the account and maintain throughout the period of use. For example, customer A has an account balance of VND 100,000,000 and a debit balance of VND 50,000,000, while the bank requires a minimum balance of VND 50,000. Therefore, the available balance will be calculated as follows: Available balance = Account balance (VND 100,000,000) - Minimum balance (VND 50,000) - Debit balance (VND 50,000,000) = VND 49,500,000.
What is the difference between available balance and account balance?
3. Why is available balance important?
Available balance is important because it represents the amount of money you can use immediately after subtracting any pending transactions. This has several benefits:- Helps you know exactly how much money is available to spend or withdraw without worrying about overdrafts or paying penalties for spending beyond your balance.
- Allows you to better control your finances by knowing how much money you can spend, avoiding overspending.
- Ensure payments or transfers go through smoothly without being declined due to insufficient funds.
4. How to check available balance
Here are ways to check your account balance:4.1 Check available balance via Internet Banking/ Mobile Banking.
You can check your account balance easily on your mobile phone by logging in in two ways:Method 1: Using MSB mBank application:
Step 1 : Download MSB mBank application.- For iPhone: Download from the App Store .
- For Android phones: Download from Google Play .
- Enter the username and password registered with the bank.
- Balance information will be displayed immediately on the main screen after logging in.
- To view transaction details, select "Account".
Method 2: Check balance via official website:
Step 1 : Access MSB's website at https://www.msb.com.vn . Step 2 : Log in to your Internet Banking account: Click " Login " in the upper right corner of the screen and enter your account information. Step 3 : Check your balance.- After logging in, the account balance will be displayed on the main interface.
- You can view more transaction history by selecting "Account".
MSB mBank app lets you check your account balance
4.2 Check available balance at ATM
In addition to checking your balance online, you can also easily check at ATMs nationwide. Here are the detailed steps: Step 1 : Insert your card into the ATM slot. Enter your PIN to log in. Step 2 : On the ATM screen, select "Account statement" or "Check balance" . Step 3 : View account balance information displayed on the screen. Step 4 : After checking, select "Exit transaction" and take your card back from the machine.4.3 Check available balance at bank counter.
You can also go directly to MSB transaction points nationwide to check your balance. You need to bring the original ID card/CCCD to verify your account. The teller will assist you in checking your current account balance.4.4 Check available balance via call center.
In addition to the three methods above, you can call MSB's customer service hotline at 19006083 to request staff to quickly check your account balance.
Go to the bank counter to check available balance
5. How to calculate available balance?
You can calculate the available balance in your account using the following formula: Available balance = Account balance + Overdraft limit (if any) - Blocked amount - Minimum balance to maintain the account In which:- Account balance : The amount of money currently in your bank account.
- Overdraft limit : The amount of money allowed to be used when the account balance is 0 VND. This is the amount of money the bank lends according to the overdraft contract.
- Blocked amount : Is the amount of money that the bank holds in your account and you cannot use for certain reasons.
- Minimum Account Maintenance Balance : This is the minimum amount of money you need to maintain in your account to keep it open. This amount may vary depending on the regulations of each bank.
Contact MSB for more information about available balance
6. Frequently Asked Questions
6.1 Can the customer withdraw all available balance?
If the customer is still using the card, they cannot withdraw the entire balance in the account unless the available balance is equal to the account balance. In case the account balance is zero and the customer does not make any transactions within the specified period, the bank will automatically lock the account. In addition, if the customer has no outstanding balance and wants to close the bank account and card, they can withdraw the entire balance in the account. This means that the customer will not be able to continue to make transactions such as withdrawing money, transferring money or paying bills at the bank.6.2 Is it okay if the available balance is negative?
A negative available balance occurs when the blocked amount is greater than or equal to the total account balance plus overdraft limit (if any), minus the minimum balance. This may be due to:- The account owner requests the bank to freeze the money or temporarily lock the account.
- The bank discovers an error or mistake when the customer makes a transaction, or the payment service provider requests a refund.
- Account shows signs of fraud or violation of the law.
- The bank received notice from one of the account holders about a dispute regarding a joint account.
- The bank receives requests to temporarily lock accounts from competent authorities such as Tax authorities, Courts, and Procuracies.
6.3 How to increase available balance?
Credit card limits can be increased in two ways: automatically or proactively. To ensure a successful limit increase, you should note the following points:- Continuous card usage : Banks usually approve a limit increase after you have used your credit card for 6 months to 1 year. This time helps the bank have enough data to evaluate your spending level and credit score more clearly.
- Proof of income : Income is an important factor in determining your ability to repay the loan. You should provide accurate and reliable proof of income to support your request for a limit increase.
- Establish credibility : Banks value customers who have a history of timely repayment, good spending control, and proper card usage. Maintaining a good financial reputation will increase the likelihood of being approved for a credit limit increase.
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