Keeping track of your bank account balance is very important. And with the advent of online banking services, knowing how much money you have left in your bank account is much easier than before.
Traditional banks with online banking save you the stress of journeying down to the four walls of the financial institution simply to know how much money you have in there. Online-only banks too have provisions to help you keep track of your money.
From the four walls of your home, you can see what your bank account balance says through your smartphone. Checking your balance often helps you see where you stand cashwise, spot the issues, and also proffer a solution. You’ll also be able to uncover potential fraudulent activity on your account and make quick decisions on them.
After viewing your bank account balance,be sure that you know what the difference is between the account balance and your available balance.
6 Quick And Easy Steps to Check Your Bank Balance
1. Use an ATM
You can get a lot of information through the ATM machine. This could be making a transfer, withdrawal, or checking your account balance among others.
Simply insert your ATM card into a machine and the prompts to find what your bank account balance is. Consider using an ATM network used by your bank or use your bank’s ATM to avoid charges. If you use a different ATM, you’ll be charged, and most likely too when you don’t withdraw cash. Aside from that, your bank can also charge you extra for using a foreign ATM.
2. Mobile Apps And Online Login
With your bank app on your smartphone, you can do almost everything you’ll want to do at a brick-and-mortar bank. Simply navigate to your profile on your bank app or visit your bank’s website to access your account information.
If you’re using your bank’s app or website, you’ll need to “Login” or “Account Access,” especially if you already have an active account. If you’re a first-timer on the platform, select options like “First-time User” or “Register.”
Online banking comes with a wide range of features to make managing your banking experience comfortable. You can also pay bills without writing a check, do transfers to other banks, and many more.
3. Call Your Bank
You can also follow a more traditional method of calling your bank to request for your balance. Some banks will only respond within a stipulated work-hour to speak with a human, but many have an automated system that works 24/7 to provide account information to customers.
Getting set to harness the systems might require that you first establish a PIN, among other options. And once you have the basic features in place, you’ll be able to keep it running.
4. Text Messages
One of the fastest ways to use your cell phone to retrieve your account balance is to set up text messaging with your bank. You do not have to log in to your account or visit a website, you can simply dial a bank code if your bank has the option available.
5. Set up Alerts
You can also create alerts, instead of doing your balance checking manually. Your bank can send push information to you when something happens. You’ll have an automated safeguard for your account with this feature.
Do you just want a heads up when your account balance is low, or when a major cash withdrawal occurs on your account? If so, set alerts, to help you receive text messages or emails from your bank.
You may also customize the message types sent to you and what dollar amounts are relevant to you. With this alerts set, you are sure you have no worries till an alert from your bank says otherwise.
It is also wise for you to check things up on your account occasionally even when you have alerts set. This will help you fish out any potential errors or fraudulent activity that you may have missed.
6. Talk to a Teller
If it appears you aren’t getting a head-on with the other option, speak to a teller, especially if you use a traditional bank. Unfortunately, most of these services are being automated in many banks, and some may even require that you pay extra fees to get this personal service.
A face-to-face conversation can be very helpful and easing. But it is always good to be able to harness the other provisions properly for your comfort.
However, with a credit union, you’ll receive that as part of a shared branch network. You may have several locations available to you nationwide.
Checking Your Available Balance
When checking your bank account balance, pay close attention to the kind of balance that you see. When you use your bank’s app or go online, the ‘available balance’ displayed is what you can spend or withdraw. It is sometimes less than the amount you think of as your bank account balance.
This difference is often connected with bill payments, debit card authorizations, and uncleared deposits. The funds may become ready in some days after, but are currently frozen.
If you balance your account regularly, it is less likely that you’ll need to check your account balance often – though it is advised you do, to uncover possible issues that may have occurred.
In fact, this will help you know where your balance is headed ahead of your bank. If you write a check or spend before you receive the transaction in your account, you’ll have more accurate records than that of your bank.
Frequently Asked Questions (FAQs)
– How can you keep track of your checking account balance?
You can harness multiple methods to monitor your account. Take advantage of mobile apps that make information easily accessible to you at your fingertips, and make use of alerts to keep you abreast with account activity. Doing this will also help you know when deposits clear and when the money will be available for use, and also help you understand your finance situation better.
– Which bank Is best for a zero-balance account?
Your choice of bank will determine what bank is best for you. For instance, if you will rather go for online banking or physical ones. You’ll want to pick a bank account without account minimums or monthly fees that could generate an accidental overdraft fee.
– What happens when you close a bank account with a negative balance?
If your account balance falls into the negative because of an overdraft, you will have to settle that debt first. And even when you want to close the account, you will be expected to bring the account balance back to zero (at least), to be able to go ahead.