You should always know the balance of your account, and how much is available to spend. You can keep track of your finances by checking in on them regularly. This will also help you spot any problems, such as fraud or mistakes.
When you look at your account balance, make sure to understand the difference between the balance of your account and the balance.
How to check your bank balance in 6 easy steps
1. Log In Online
Check your account balance at any time online. Navigate to the website of your bank and enter your account details. As described below, you can also use the mobile app. You’ll usually find options such as “Login” and “Account Access”; if it’s your very first visit, choose “Register” or a “First-time user.”
Note:
Try it out if you’re new to Online Banking. You can check your balance online and transfer money to another bank, pay bills electronically, etc.
2. Mobile Apps and text Messages
Checking your account balance is easy with mobile phones, tablets and other devices. You can check your account balance on the go with most banks’ apps or websites. Apps allow you to perform more tasks than you could on a desktop.
Banks are increasingly allowing you to Deposit Checks with Your Mobile Device. This allows you to save time by not having to visit a branch.
Set up text messaging to communicate with your bank using your mobile phone. If your bank allows it, you can get a quick update on your balance without logging in.
3. How to Use an ATM
You can check your account balance at an ATM. Insert your ATM or debit card, and then follow the instructions on screen. Use the ATM of your bank (or an ATM network your bank uses). You will likely be charged fees by other ATMs, even if you do not withdraw cash. You may be charged an extra fee by your bank for using an “foreign ATM”, so checking your balance can cost you.
4. Call the Bank
Call your bank to check your balance if you want a traditional method. Most banks offer 24/7 access to account information via automated systems. You may need to call at certain times to get in touch with someone, but you can also use the online system to check your balance. It may take a little time to get used to these systems (you might need to create a pin and other things). Once you get it set up, it will become second nature.
5. Set up Alerts
You can opt to have your bank send you information about your account when it changes, instead of manually checking the balance. This is a great way to add an automatic safety net for your account.
Want to be notified when your account balance drops or if there is a large withdrawal? Set up alerts to have your bank send you a text or email. You can usually customize what messages you receive and the dollar amounts that are relevant for you. You can be confident that everything is fine if you have alerts set up.
Note:
It’s important to review your account regularly, even if you receive alerts. Report any fraudulent or error transactions immediately to receive full federal protection. 3
6. Speak to a Teller
If you can’t reach anyone else, try to speak to someone in person. This is assuming that you are using a brick and mortar bank which has local branches. It’s becoming harder to reach tellers and some banks charge extra fees for personal service. If you choose a credit union which is part of a network of shared branches, you may have thousands of locations available nationwide.
Although a face to face conversation can be useful, it is best to become familiar with the self-service options above. You will appreciate the ability to do things on your own schedule and from anywhere.
You can use your available balance
Pay attention to what type of balance you see when you check your account balance. Most banks will show you both a balance available (which shows you how much money you have to spend today or withdraw) and a balance total when you use their app or go online.
It is common for the available balance to be less than what you believe (what you consider your “account” balance) due to pending transactions, such as debit card authorizations and deposits that haven’t cleared. These funds will be available within a few business days.
You Know More than Your Bank
You don’t need to check the balance if you regularly balance your account (although you should do it to detect problems before they worsen).
You’ll know your balance better than your bank. Your records are more accurate than the bank’s if you write a cheque or make a purchase before the transaction reaches your account.
FAQs (Frequetely Asked Questions)
How do you track your checking account balances?
There are multiple ways to monitor your account. Use mobile apps to keep important information at your fingertips and set up alerts for potential problems. You’ll be able to track your spending and know when money is available.
Which bank is best for a Zero-balance Account?
Your preferences will determine which bank is best for you. For example, whether you prefer to do your banking online or in person. If you are planning to have low balances you will want to choose a bank that does not charge monthly fees or account minimums that may accidentally trigger overdraft fees.
What happens if you close a banking account with a balance that is negative?
You will have to pay back the debt if you overdraft and end up having a negative balance. If you ask to close your bank account, the bank will probably not allow you to do so until the balance is at zero.
