It’s important to understand how much money you have in your bank account and how much of it is available for spending. You can see where you stand and identify issues (like fraud or errors) before they become major by frequently checking your account.
Once you’ve seen your balance, make sure you know the difference between the account balance and your available balance.
Checking Your Bank Balance: 6 Simple Steps
1. Online sign-up
You can do a lot more online, including checking your account balance at any time. Access your account information on your bank’s website to get going. In addition, as will be discussed below, you can use a mobile app. You’ll typically search for a selection like “Login” or “Account Access.”. Choose options like “Register” or “First-time User” if this is your first visit.”
Note
If you’ve never tried online banking, you should. You can frequently transfer money to other banks, pay bills without writing a check, and more online in addition to checking balances.
2. Text messages and mobile applications
It’s simple to access accounts from virtually anywhere with the help of mobile phones, tablets, and other gadgets. You can view your account balance online and on the go with most banks’ apps or, at the very least, mobile-friendly websites. The majority of the time, apps give you access to even more features than a desktop computer does.
For instance, more and more banks now let you deposit checks using a mobile device so you can stop wasting time traveling to a branch and start receiving your funds more quickly.
Establishing text messaging with your bank on your phone is the quickest way to use it. If your bank allows it, you can request a quick balance update without even logging in.
3. Employ an ATM
New account balances can be obtained from ATMs. Simply place your debit card or ATM card in and follow the on-screen directions. Use an ATM at your bank, or one of its networked ATMs, whenever possible. Even if you don’t withdraw money from those ATMs, they will probably charge you a fee. Your bank might also charge you extra money for using a “foreign” ATM, so checking your balance could cost you money.
4. Make a bank call
Call your bank to find out your balance if you’d rather use a more conventional method. The majority of banks have automated systems that provide account information around-the-clock, though you might need to call during specific hours to speak with a person. It might be difficult to get set up to use those systems (you might need to create a PIN first, for example). However, it will become routine once you get going.
5. Configure alerts
You can ask your bank to notify you when something happens rather than having to manually check your bank account balances. This provides your account with an added automatic safety net.
Set up alerts so that your bank sends you an email or text message whenever there is a significant withdrawal or whenever your account balance is about to get low. The messages you receive can typically be tailored, as can the dollar amounts that apply to you. Up until and unless your bank contacts you, you can assume everything is fine if alerts are in place.
Note
You should regularly log in and review your account, even with alerts. You must immediately report any mistakes or fraudulent transactions if you want to take full advantage of federal law’s protections.
6. Consult a Teller
If all else fails, talk to someone in person, assuming you use a bank with local branches that is a brick-and-mortar establishment. Unfortunately, finding tellers is becoming more difficult, and some banks even charge more for personalized service. However, you might have access to thousands of locations across the country if you use a credit union that is a part of a shared branching network.
While a face-to-face discussion may be beneficial, it’s best to become accustomed to some of the self-service techniques described above. You’ll value the freedom to complete tasks at your own pace and from virtually anywhere.
Your current credit
Pay attention to the type of balance you see as you check your bank balance. Most banks display both the total account balance and the available balance when you access the bank’s website or mobile app, which indicates how much you have available for immediate spending or withdrawal.
Because of pending transactions, such as debit card authorizations, upcoming bill payments, and deposits that have not yet cleared, the available balance is typically lower than what you believe to be your “account balance” (the amount in your account). In the meantime, the funds are frozen, though they might become accessible in a few days.
You are wiser than your bank
You hardly ever need to check your balance if you regularly balance your account, though doing so is a good idea to spot issues before they worsen.
In fact, you’ll likely be aware of your balance’s future direction before your bank. Your own records will be more accurate than the bank’s if you write a check or make a purchase before the transaction appears in your account.
FAQs, or Frequently Asked Questions
How do you monitor the balance in your checking account?
Your account can be followed in several different ways. Utilize mobile apps to keep information at your fingertips and use alerts to be informed of potential issues. You’ll gain a better understanding of your finances as you keep track of things and learn when deposits clear (and when you can use the money).
Which bank offers the best zero balance account services?
Your preferences, such as whether you prefer online or in-person banking, will determine which bank is the best for you. To avoid accidentally incurring an overdraft fee, choose a bank account without account minimums or monthly fees if you anticipate having low balances.
What occurs if a bank account is closed with a negative balance?
You will be required to pay the debt if you overdraw your bank account and leave it with a negative balance. Even if you ask the bank to close your account, they probably won’t let you until you’ve returned the balance to at least zero.