How to check your bank account balance

Not spending much time checking your bank account balance? You’re not alone. Especially if you’re stressed about your finances. According to research from Discover Bank, many Americans avoid looking at how much money is in their bank account due to financial anxiety. Forty-one percent of Gen Zers, 27 percent of Millennials and 20 percent of Gen X-ers don’t want to look at their accounts. 

But keeping track of your account balance is an essential piece of maintaining your financial well-being. Read on for the easiest ways to see what’s in your account.

Ways to check your account balance

Look at the phone in your pocket, pick up the phone and call your bank, head to a branch and talk to a teller — there are loads of options for checking your bank account balance. Here’s a rundown of six options to get a current view of your finances.

On the bank’s website

Online banking allows you to access your bank account from any computer or device with internet access. 

• Log in to your bank’s online banking website using your username and password. (If you haven’t created an online profile yet, you’ll need to go through the process of verifying your identity. Make sure you select a strong password to protect your credentials.)
• Navigate to the account balance section. It should be listed under “accounts” or “account information.” 
• Depending on your bank’s website layout, you may need to click on your account to view your balance. Most online banking sites offer a clear overview of your account balance and transaction history.

On a mobile banking app

Mobile banking apps have become increasingly popular, and most banks now offer their own apps to make banking easy and convenient for their customers. 

• Download the app from your bank’s website or the app store of your choice.
• Sign in to your account using the same credentials as you do for your desktop-based online banking system. 
• Navigate to the account information section. Most mobile banking apps provide an up-to-date view of your account balance and recent transactions.

At an ATM

If you don’t want to manage your finances digitally — or you don’t have access to a secure Wi-Fi connection — you can find an ATM location to check your balance.

• Find an ATM that is part of your bank’s fee-free network to avoid getting charged for checking your balance.
• Insert your debit or ATM card, enter your Personal Identification Number (PIN) and select “balance inquiry” or a similar option. Your account balance will be displayed on the screen, along with any recent transactions.
• Choose to print out a receipt to keep track of the current balance. Alternatively, you may be able to email yourself a copy of the balance.

Over the phone

Many banks still offer telephone banking services, which allow you to check your account balance by phone. 

• Call the phone number on the back of your debit card.
• Follow the prompts from the automated voice system to access your account balance. 
• Be prepared to verify that it’s really you by entering your account number and answering a few security questions before you can hear your balance.

Through bank statements

While you won’t get an immediate picture of what’s in your account, you can also monitor your balance on a monthly basis through bank statements. 

• Decide whether to receive a paper copy of your statement in the mail or opt for paperless statements that will appear in your online banking platform. (Note that some banks have begun charging for paper statements, so be sure to ask if you’ll incur a fee for an envelope in your mailbox.)
• Online or in the mail, your statement history will look the same. You can review all the transactions and the balance at the end of the statement period.
• If you’re receiving paper statements, decide whether you’ll be storing them in a secure area or shredding them to take extra precautions to protect your private information.

With a bank teller

If you do your banking at a bank with physical locations, you can still ask for face-to-face balance updates in a branch location.

• Make sure you have your account number, bank card and identification. This information will be necessary to confirm you are the account holder.
• After confirming your identity, a bank teller will provide your balance. The teller can provide this information verbally or print out your recent transactions and current balance.

Why it’s important to monitor your bank account balance

There are four key reasons why it’s critical to keep an eye on your bank account balance:

1. You’ll be a better budgeter. By understanding how money is moving in and out of your checking and savings accounts, you’ll be able to spot ways to save more, spend less and plan for the future. For example, if you know that you have $1,000 in your checking account but you only really need a cushion of around $250, you can opt to transfer that $750 to a savings account with a higher interest rate to accelerate your earnings. 
2. You’ll avoid the awkwardness (and fees) of having a transaction denied. Knowing how much money is in your checking account can help you pay your bills. Rather than seeing a notice for a declined utility bill or having a merchant tell you your debit card transaction wasn’t accepted, you’ll be able to confidently manage your expenses. You’ll also avoid the costly overdraft fees you might incur if you’re enrolled in your bank’s overdraft protection services.
3. You’ll stop paying unnecessary fees. By checking your account balance on a regular basis, you’ll know if you’re paying monthly service fees, overdraft fees and other costly bank expenses. And if those are adding up, you can take steps to eliminate them or find a new bank that offers free checking accounts and free, high-yield savings accounts.
4. You’ll immediately catch thieves. According to research from J.D. Power, 29 percent of bank customers experienced some type of fraudulent activity in the past 12 months. If you regularly check your account balance, you’ll be able to report suspicious transactions to avoid the stress of seeing someone drain your account down to zero. The sooner you spot online thieves, the better off you’ll be. 

Make sure to protect your sensitive information

When checking your bank account balance, it’s essential to protect your personal information from hackers or scammers. Here are some tips to keep your information secure:

• Use a strong password and change it regularly.
• Don’t share your account details with anyone you don’t trust.
• Check your account regularly, and report any suspicious activity to your bank immediately.
• Only access your account online through a secure connection, such as your bank’s official website or app.
• Be cautious of phishing scams, and never click on suspicious links or attachments in emails or text messages.
• If you’re using an ATM, make sure it’s in a well-lit area and run your card as a credit card or shield your PIN when you enter it to avoid a common scam called skimming.

By using these methods to check your bank account balance, you can stay on top of your finances and ensure the safety of your personal information.