Account Balance

[leigh47]

In respect to all types of bank, building society and store cards what exactly
does the term BALANCE mean? Can it be + or - , In credit or in debit ?
It seems that it is often used only to mean deficit. Is this correct? Hope this is clear.

[Tuvok]

The total after all income and outgoings have been totalled.

If negative, then you are in debt, otherwise you are in credit

[black_cat51]

it just means the sum of everthing going out and everything going in. It can be either credit or debit

[factor-fiction]

My bank account and ISA savings accounts balances are always in credit. My credit card balance is in debit until I pay my bill. My utility bill statements are in credit or debit - it can vary from month to month