Account balance

(redirected from bank balances)
Also found in: Dictionary.

Account balance

Credits minus debits at the end of a reporting period.

Account Balance

The amount available in an account. Simply put, the account balance is the net of all credits less all debits. A positive account balance indicates the account holder has funds available to him/her, while a negative balance indicates the holder owes money. Account balances are important in banking because they determine whether or not an account holder has money for living expenses and in margin accounts because they show whether the holder can conduct more margin transactions.

Account balance.

Your account balance is the amount of money you have in one of your financial accounts. For example, your bank account balance refers to the amount of money in your bank accounts.

Your account balance can also be the amount of money outstanding on one of your financial accounts. Your credit card balance, for example, refers to the amount of money you owe a credit card company.

With your 401(k), your account balance, also called your accrued benefit, is the amount your 401(k) account is worth on a date that it's valued. For example, if the value of your account on December 31 is $250,000, that's your account balance.

You use your 401(k) account balance to figure how much you must withdraw from your plan each year, once you start taking required distributions after you turn 70 1/2. Specifically, you divide the account balance at the end of your plan's fiscal year by a divisor based on your life expectancy to determine the amount you must take during the next fiscal year.

References in periodicals archive ?
As at June 30, 2017, the fund, which was being run through Rafiki Bank and Family Bank, had a bank balance of close to Sh76 million at Rafiki Bank and S.7 million at Family Bank.
Accordingly, the interest rate on savings bank balance of up to INR5m has been reduced to 3.5 percent from the current annual 4 percent.
Most importantly, for the first time ever ESAG has been able to obtain consolidated bank balances, all done through SunGard's AvantGard Quantum.
Bankers said the larger players fear that with new banks expected to come into the picture, the fight for savings bank balances is only going to intensify.
Huge amounts of cash and bank balances were fraudulently and dishonestly reflected in the balance sheets of Satyam by the Rajus, whereas only minuscule amounts of cash and bank balances were actually available.
Retail bank balances increased to BD23.9bn or 28.5pc, while wholesale bank balances declined by 3.8pc, compared to 2007.
Retail bank balances increased to BD23.9 billion or 28.5 per cent, while wholesale bank balances declined by 3.8 per cent, compared to 2007.
THE YUPPIES are extinct, crushed to death under their shoulder pads and bank balances.
HSBC and First Direct customers will soon be able to use their mobile phones to check bank balances any time of the day or night.
California's law, which takes effect in July 2004, will require customer permission before financial institutions share with an unaffiliated company information such as bank balances or spending habits.
It automatically consolidates bank balances and transactions, and displays an organization's cash information automatically in a "Cash Position Worksheet" for immediate action.
The authors refer to Michael Ignatieff's description of core Canadian values: "We think that public taxation should provide for health care and that it is wrong for decent medical care to depend on the size of our bank balances."