• Chinedu Orji, a bank customer, wrote asking for advice as he realised he couldn't withdraw from his bank account
• He said his current balance shows he has over N22,000 in his account, but at the ATM, he keeps getting an insufficient funds notification
• Victoria Adebisi, an experienced customer representative, has provided an explanation as to why the bank customer could not withdraw

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

A Legit.ng reader, Chinedu Orji, lamented that he could not withdraw money with his debit card at the ATM despite his account's current balance showing N22,020.

Orji asked:

"On my way back from work, I went to the ATM to withdraw money, but I couldn't, despite having a current balance of N22,020. The ATM machine kept rejecting my card with an insufficient balance notification. I don't know why."

Why customers can't withdraw current balance

Victoria Adebisi boasts over six years of experience as a customer representative in the banking sector, coupled with valuable insights gained from working across various departments.

It is important for bank customers to know that there is a difference between current balance and available balance.

The current balance reflects the total amount of money in an account at a given time, including all pending transactions, such as deposits and withdrawals, that have not yet cleared.

In contrast, the available balance represents the funds that are immediately accessible for withdrawal or use.

Knowing this difference helps customers avoid declined transactions.

For example, If you have recently made a transaction, the funds may not have been fully processed or cleared yet. These pending transactions may temporarily reduce your available balance, even though the current balance reflects the total amount of money in your account.

However, the current balance is not available to the customer to withdraw.

Disclaimer: Advice given in this article is general in nature and is not intended to influence readers' decisions about solving issues of threats. Readers should always seek their own professional advice that takes into account their own personal circumstances before making any decision.

Do you have a story to tell? Want an expert's advice? Please email us at with 'Ask an expert' in the subject line.

Help, I sent N200K to wrong bank account

In a related story, Legit.ng reported that a Nigerian man mistakenly transferred N200,000 to the wrong bank account due to a typing error and wants his money back.

He said he found out after the intended recipient complained that he had not seen the transferred funds in his bank account.

Kalu Uche, an operational manager in one of Nigeria's commercial banks, explained to Legit.ng in an exclusive chat the process of retrieving wrongly sent funds.

Proofreading by James Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng