Having a bank account and conducting transactions through the account alone is not prudent financial management. Keeping track of your account transactions and being aware of your account balance is very important to budget your expenses and save for a rainy day. Besides, you can avoid embarrassing situations like declining a purchase transaction, cheque bounce, etc. So, how to check your bank account balance?
Nowadays, financial institutions have made the bank balance check process very convenient. You no longer have to go to the bank and get your passbook updated after waiting in long queues.
How to check your bank account balance without visiting the bank branch is what you will learn in this article.
Modes of Account Balance Check
Banks and other financial institutions have devised various convenient channels for bank balance check online as well as offline. You no longer have to visit your bank branch to update the passbook by waiting in long queues for a balance check.
Given below are the various channels you can use for bank balance check.
The Official Website of The Bank
For bank balance check online through the bank’s website, the online banking facility for your account is to be activated. You can opt for Internet banking when you open an account with the bank or can register online for the Internet banking facility.
The bank will give a username and password. For an account balance check follow the steps given below:
- Access the website of the respective bank
- On the homepage click on the Internet Banking option
- Login to your net banking account using the username and password
- Under the ‘My Accounts’ Section, choose the ‘Account Summary’ option
- If you have multiple accounts, choose the bank account number for which you need the balance.
- The current balance in the account will be displayed on the screen of your device.
Through Mobile Banking Applications
This is a more convenient way for account balance check. To use the mobile banking app
- Download the mobile banking app through the Google Play Store or App Store
- Log in to the app with the login credentials.
- On the home screen, you will be able to see your current balance.
Through Phone Banking
To use the phone banking services for bank balance check
- Call the phone banking number of your bank from your registered mobile number.
- The automated voice system will give you certain prompts which you will need to follow.
- You will have to dial your account number and provide other identification information.
- Answer the security questions asked and if found correct, you will be able to view your account balance on your mobile device.
Through UPI Applications
You can do the bank balance check through UPI applications with the following steps.
- Open the UPI app and unlock the app by entering the security code.
- Choose the account number for which you need the balance
- Enter the UPI PIN
- The account number will be displayed on the screen of your device.
Through SMS
Ensure that your mobile number is linked to your account number to use this service. You should type the text message stipulated by your bank for a bank balance check and send an SMS to the designated number from your registered mobile number. Within a few seconds, you will receive the balance in your account number via SMS. If your mobile number is not registered with the bank, you will get a message saying that the mobile number is not registered.
The account balance check can be done from anywhere if there is an internet connection. But how to check your bank account balance in the absence of an internet connection? Here are some offline methods available for account balance check.
By Giving a Missed Call
The first step to use this service is to register your mobile number with the bank. You can then
- Call the designated toll-free number from your registered mobile number
- The call will get disconnected after a few rings.
- The balance in your account will be sent via SMS.
By Setting Up SMS Alerts
Instead of manually checking the account balance, you can opt for SMS alerts, where the bank pushes information through SMS to your registered mobile number. You can also customize the type of messages by choosing to get information about either the debit transaction or the credit transaction.
You can opt for information on both credit as well as debit information as well. You have an option to set up a threshold limit for the transaction as well. If you need the alert for transactions above a certain amount, the same will be accepted, and the information about the transactions beyond the set amount will be pushed to you via SMS.
By using the USSD Code
To know your account balance through this method, you need to
- Dial the USSD Code #99, which is not related to any particular bank or service provider. The code was introduced by NPCI to facilitate easy access to bank accounts for those who do not have an internet connection.
- Choose the option for bank balance from the list displayed on your mobile screen
- Enter the three letters of your bank or four letters of your IFSC Code
- You will have to enter the UPI PIN if you have already registered for the facility
- Your account balance will be displayed on the screen.
Through ATMs
You will be issued an ATM debit card upon opening a bank account. You can use the debit card for account balance check.
- Locate the nearest ATM.
- Visit the ATM and insert the debit card in the slot provided in the ATM machine
- Enter the 4-digit ATM PIN
- Select the balance inquiry option
- The current balance in your account will be displayed on the screen.
Through Passbooks
This is the traditional method of viewing your account balance. You can visit the nearest bank branch and get your passbook updated periodically or whenever you need to know the balance.
Now, passbook kiosks are provided at the bank branches as well as ATMs. You can print the passbook yourself using the kiosks instead of waiting in long queues at the branch to get the passbook updated.
How Does Regular Account Balance Check Help?
With account balance check made easy with several online channels, it is crucial to be aware of the balance in your account for various reasons.
- You will know when your account balance falls lower than what is required to honor pending bills, cheques issued to the account, etc. You can make up for the gap by either transferring the required amount from another bank account or by depositing cash in the account. This will save you from rejected transactions and the penalty associated with it.
- Tracking unnecessary expenditures like impulsive buying will help you budget your expenses.
- You can spot unauthorized or fraudulent transactions and report the same to your bank immediately for timely action. This will save you from financial loss.
- You can check your spending pattern and restrain yourself from unnecessarily swiping your debit card and draining the balance in your account.
- You can follow up for pending receipts, especially if it is a business account. If the payments from a particular customer have not come into your account within the promised date, you can follow up for the same.
- You can track the realization of cheques deposited into your account. If any cheque deposited into your account bounces, you can follow up with the client for the payment or take legal action within the stipulated time.
Precautions To Be Taken While Checking Account Balance Online
Keeping track of what happens in your account through regular bank balance check is a good practice. However, you should also be wary of hackers and skimmers. Here are some precautions that will provide the required protection.
- Do not share your account details with anyone.
- Use a strong password and change it periodically.
- Report any fraudulent transactions in your account to your bank immediately.
- If you are using an ATM for an account balance check, choose an ATM in a well-lit area and cover the keypad while entering the ATM PIN to protect your account from skimmers.
- Do not click on any suspicious emails, text messages, or links. This can avoid phishing scams.
- Access your bank accounts only through secure connections like bank websites.
FAQs
What does available balance mean?
The available balance means the extent to which you can withdraw the amount from your bank account. If you have deposited a cheque into your account, the same will be reflected in your account balance but will be available for withdrawal only when the cheque is cleared or encashed. Till then, the available balance shown will be minus the amount of the cheque deposited.
What happens if your account is overdrawn?
Your account being overdrawn brings down the conduct of your account. Besides, you will be charged a penalty as well as interest on the overdrawn amount from the date of overdrawing till the date of regularization.
Is it necessary to do the balance check every day?
If you have regular transactions in your account, for instance, a business account, checking the balance every day is important for proper financial management. You can follow up for unpaid invoices as well as identify unauthorized transactions, and report immediately to your bank for timely resolution.
What are the other facilities available online besides account balance check?
You can also get mini statements with 5 to 10 latest transactions as well as account statements through net banking, mobile banking, and SMS banking.
What are the modes for bank balance check in the absence of a smartphone and internet connection?
You can check the balance using missed call service, SMS banking, and through ATMs.
