Your “available" balance is the one that counts
Loading player...
Fezile had money in his Capitec account - or so he thought. On three occasions since last August, his Telkom debit order went unmet, costing him bank fees, Telkom penalty fees, and a dent in his credit record.
When I took up his case with Capitec, the bank explained the crucial distinction: your balance doesn't account for pending transactions, but your available balance does — and that's what debit orders are processed against. The two figures can differ significantly. Lesson learned the expensive way: always check your available balance before your debit order run, not just your balance.
When I took up his case with Capitec, the bank explained the crucial distinction: your balance doesn't account for pending transactions, but your available balance does — and that's what debit orders are processed against. The two figures can differ significantly. Lesson learned the expensive way: always check your available balance before your debit order run, not just your balance.
