Question

Difference between withdrawal balance and closing balance in bbank

Answer 1

withdrawal bal is the amount that we withdrew for our use eg. u have withdrew 1000frm bank and closing balance is the remaining bal i. e., after withdrawing 1000 how many amt u have left with us ur close sing bal

Answer 2

Withdrawal balance:

In banking terms, withdrawal balance or available balance is the amount that could be utilized readily for transferring purpose via Internet banking (or) for cash withdrawal via ATM.

Withdrawal balance excludes pending transaction amount such as unprocessed transactions, yet to be cleared funds.

Closing balance:

A closing balance is the sum of the total available at the end of an accounting period / reporting period.

This includes amount pertaining to pay order, cheque, demand draft, etc. that are yet to be cleared.