Four Methods Of Checking Bank Account Balance


Bank account balances should be checked at frequent intervals. It is important for every individual to monitor his/her bank transactions in order to ensure that there is no discrepancy in the nature and number of transactions.

Ideally, verification of bank balance should be done after each deposit or withdrawal is made by the account holder from the account. An individual is not required to visit his/her bank branch in order to confirm his/her account balance. There are several methods through which information can be obtained on various banking transactions at any point of time.

Let us discuss Four Important Methods of Checking Bank Account Balance.

a) Bank Statement

Banks generally provide hard copy of bank account statements at the end of each month. This statement contains details on opening balance at the beginning of the month, transactions performed during the month and closing balance at the end of the month. In order to check the closing balance, an individual will have to add all deposits and deduct all withdrawals from the opening balance.

Even though there is no need to perform all these calculations, it is advisable to perform a recheck of all the transactions mentioned on the bank statement. Bank statement can be obtained through email or can be downloaded using the online facility provided by the bank. Generally bank statements are couriered by the bank; however it is also possible to obtain bank statements by visiting the bank premises.

b) ATM Balance Inquiry Facility

Banks provide debit card/ATM card facility to all account holders. This card can be used for performing various transactions including account balance verification. An individual can choose to view the balance on the screen by using “Balance Inquiry” option and can use “Print Receipt” option to obtain account balance receipt. Another option available to the card holder is to print a Mini statement which contains details of last few transactions and closing balance available in the bank account. Both of these facilities can be availed by using bank’s ATM machine situated at various locations.

c) Internet Banking Facility

Bank account holders can also avail internet banking facility provided by their banks. Banks provide a unique login id and password to every account holder who has subscribed for this facility. Through this facility, account holder can access his/her bank account details anytime from anywhere (provided account holder has an internet connection). Account balance can be checked by logging into online account and using “Account Summary” option. It is one of the most convenient methods to verify account balance and other various transactions.

d) Telephonic Enquiry

Though this is a less popular method of confirming bank account balance, information can be obtained by making a call at the branch where account is maintained or by calling on customer care or other designated numbers for the purpose of obtaining account related information. Many banks may not provide account level details through this medium on account of security issues and may require some personal (like date of birth, last few transactions in the account and so on) and account details from the caller before providing any kind of information.

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