Starting August 13, 2019, pending MoneyPlus™ VISA check card transactions will be reflected in your available balance at the time of purchase and will show in your account as pending transactions. This will allow you to see your available account balance in real time, which takes into consideration MoneyPlus™ VISA check card pending transactions that have not yet cleared. You can see these pending transactions and your available balance in Home Branch and the Home Branch Mobile app.
What is a pending transaction and your available balance?
A pending transaction is one that has not cleared (or posted to) your account. For example, when you make a transaction with your MoneyPlus™ VISA check card, it will typically become a pending transaction before posting to your account. After all pending transactions are subtracted from your account balance, what is left is your available balance. Other transaction types, like BillPay, check and ACH, may not be reflected in your available balance. The available balance is the amount of money in your account that is available for you to use for withdrawal or transfer. For example, if your account balance is $50.00 and you just made a purchase for $40.00, then your available balance is $10.00.
$50.00 = Account Balance
– $40.00 = Pending Transaction
$10.00 = Available Balance
The benefits of this change
- Knowing how much money you have available makes it easier to manage your spending.
- You can see pending MoneyPlus™ VISA check card transactions in real time within Home Branch and the Home Branch Mobile app.
Here’s what happens if your available balance is insufficient to cover your MoneyPlus™ VISA check card transactions
- If you have already set up an Overdraft Transfer plan, funds will be transferred in increments of $50.00 from another of your TFCU accounts or line of credit to cover your transactions, if available.
- If you have not set up Overdraft Transfer but have opted in to Overdraft Coverage for MoneyPlus™ VISA check card transactions, your transactions will be covered up to the Overdraft Coverage limit on your account and an Overdraft (“OD”) Coverage Fee, currently $22.50, may be charged for each transaction.
- If no overdraft arrangements have been made for your MoneyPlus™ VISA check card transactions, your transaction will be declined.
Best practices for money management
- Sign up for online account access through Home Branch and check your available balance regularly.
- Review all account notices and periodic statements as soon as you receive them.
- Consider enrolling in Overdraft Transfer, which will allow funds to be taken from another of your TFCU account(s) or line of credit when the funds in your checking account are exhausted.
- Be aware that other transaction types, like BillPay, check and ACH, may not be reflected in your available balance.