The advent of digital technology has made a variety of tasks easy that previously needed both time and effort. For example, you don't have to go to the bank to do financial or banking transactions. At the touch of a button, you can transfer money, check your account balance, deposit money, and perform other actions. It is important to keep track of our bank balance because we often perform transactions. Checking one's bank account alerts one to any errors or frauds that may have occurred. Checking one's bank account balance can be done in many ways, such as email, push notification, SMS, net banking, Unified Payment Interface (UPI), and other methods. Therefore, let's learn how to check bank balance online anytime, anywhere, without going to the bank.
Requirements for checking bank account balance
Before we get into the specifics, here are some of the things you'll need to check your account balance online:
1. Registered bank account
2. Registered mobile phone number
3. Net banking account for those who want to check their account balance on the bank's website.
How to check my bank account balance online?
You may check account balance at home by using any of the following techniques:
1. Net Banking
An individual can check their bank balance at any time using net banking. The first step is to go to the bank's official website and fill out the necessary information. A bank's mobile app can also be used for online balance check.
Check for options like "Account Access" or "Login" on the “Home” screen of the website or app. To use the app or website for the first time, you must select "first-time user."
The procedure for registration is as follows:
- You'll need to enter your debit card number and the three-digit security code and submit it. You will have a one-time password (OTP).
- You have to now input your new username and password after entering the OTP provided to your registered cell phone number to set up a new account.
Once you've entered your login and password, you may check your balance. In addition to viewing bank account balances and details, online banking allows users to make money transfers, pay bills, and more.
2. ATM
The ATM card also can be used for bank balance check. You need to go to an ATM that accepts your ATM card and follow the steps outlined below:
- Punch your card
- Enter the 4-digit PIN
- Select the “Balance Enquiry” option
The balance would be displayed. The procedure for most ATMs is essentially the same.
3. Text Messages
The SMS option is also a convenient way to check account balance. It is possible to receive SMS alerts for balance updates and the amount credited or debited for every transaction provided that you selected/checked the option while opening a new account. No passwords or usernames are required to utilise this service. You can submit the consent form any time to sign up for the SMS option.
You can also check your balance by sending an SMS to the bank's phone number from your registered mobile number. The number varies from bank to bank. If this option is activated, you'll be notified of your balance in a matter of seconds.
Also Read: Difference between single entry and double entry bookkeeping
4. Call the Bank
Those who are not comfortable with the internet or SMSs can call the bank at their helpline numbers to know their bank balance. If your bank's system is not automated, you will not be able to check your balance at any time, unlike with the other options. However, the majority of the bank's customer service numbers are automated and provide specific services 24/7. To get your balance, you'll be requested to provide some information, including your bank account number and other details. The customer care/helpline numbers for banks differ. Check your bank's website to know the number before calling.
5. Setting up Alerts
To avoid checking your bank balance, you can have your bank set up an alert so that you are notified through email or text message when the amount drops below a certain threshold. In the event of a large withdrawal or a low account balance, your bank will notify you quickly. When setting up such notifications, you have the option of customising the amount and other parameters.
6. UPI and other banking apps
UPI and other banking apps are the most convenient and easy ways to check account balance. The UPI app is a good option if you don't want to install multiple banking apps.
To check your bank balance via UPI, follow the steps below:
For the first time users:
- Step 1: Select any UPI app and install it on your mobile.
- Step 2: Ensure the registered mobile number SIM card is active and has enough balance to send an SMS from the UPI app-enabled mobile device.
- Step 3: As soon as you open the app, you'll be prompted to enter your bank's name and the registered mobile number if your phone has a dual SIM.
- Step 4: The app will send you an SMS to verify your phone number.
- Step 5: Successful verification will prompt you to create a unique PIN (not the same as the ATM card PIN) and generate a unique UPI ID.
- Step 6: Set a 4 digit UPI Code as per your wish. This completes the registration process.
Note: If you have already created a UPI ID with a particular app, then use the same ID across all such UPI apps. Some apps also ask you to provide an email address. The email address may not be the same as the registered email address; it can be different.
For checking bank balance:
Open the UPI app and click on ‘check account balance’. Enter the UPI pin, and the balance will be displayed automatically. There is no charge for checking the balance through UPI.
7. Missed call
Banks send balance update messages whenever a person makes a missed call with their registered mobile numbers. However, to receive miss call balance updates, the following are required:
- Registered mobile number – A registered mobile number is the only requirement for this process. Only if your phone number is registered with the bank will you receive balance updates.
- The number should be active to make a missed call and receive SMS.
- Your bank should have this facility activated.
The Available Balance
When using the bank's app or other online activity, it is important to keep in mind because the balance available shows you how much money you have. Based on that, you can withdraw or spend on that day. You cannot view upcoming transactions such as automatic balance transfers for recurring payments or upcoming deposits using the app or ATM.
Also Read: Composite Supply & Mixed Supply under GST (Example & Difference)
Conclusion
The days of banking in a physical location are over. It's convenient and time-saving to check your bank balance online instead of going to a physical branch. We hope that this article has provided you with enough information to check the balance of your bank account virtually. Consult the Khatabook app for more information on banking and other activities.
