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For the record, I use Bank of America. I have a $1200 deposit (from the account of my parents) that's being processed, but that's still waiting to be cleared. The available balance adds it in though. Should I still wait until it's fully cleared to avoid overdraft fees if I want to pay for a roughly $1200 roundtrip air ticket now? (I had less than $1200 in the bank before today.)

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  • I called Bank of America today about the same problem on my account. The service representative said that part of money is available to me and I can use the money.
    – Gqqnbig
    Mar 11, 2014 at 4:06

2 Answers 2

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Yes, wait.

While the bank promises to process the deposit quickly, there is still a window of a number of days. Many people have found themselves with high overdraft fees when the withdraws came before the deposits.

  • best case: it all works out
  • worse case: high fees
  • worst case: the overdraft causes a ripple effect across accounts, or the airline transaction is voided.
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  • 2
    Agreed, never count on uncleared funds being available. Jun 14, 2012 at 21:39
  • The ripple effect at times could be worring, like airline transaction getting cancelled.
    – Dheer
    Jun 15, 2012 at 6:32
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    Also, everything about this question assumes the deposit will clear. I suppose there is a small chance that it won't and then you would be in the overdraft situation described above.
    – JohnFx
    Mar 10, 2014 at 16:33
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I called Bank of America today about the same problem on my account. The service representative said that part of money is available to me and I can use the money.

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    Hi, Welcome to Money.stackexchange.com! To make your answer a great answer, you should try and more directly answer the question. Something like call the bank and ask them what amount can be used immediately. If you want to share an anecdote that isn't really an answer, adding a comment to the question is the better path.
    – Alex B
    Mar 10, 2014 at 21:14

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