Before the digital age, checking bank balances was complex. You would have to stand in long lines outside the bank. Now the passbooks are just a useless formality.
You can now do the following things using your mobile phone:
- Log in to your bank account and do cashless transfers in real time.
- Check the account balance without standing outside the bank.
- Easily review your past transactions, mini statements, etc.
With advanced technology, banking is easier than ever. You just need to use your bank login details.
Why must we check our bank balance regularly?
We must always keep track of our expenses. This is a healthy financial habit that helps you track your spending. It also helps you spot any fraudulent activity.
You can easily spot banking errors or missing funds.
You can spot unwanted subscriptions as well.
What to remember before logging into your bank account
Now we know that checking our balance regularly is a great habit. Let us see what we need to do before we check it online.
You must note the following things are important to check your bank balance online:
- The bank must have your KYC details. This means your mobile number must be registered with the bank.
- You need a smartphone with an internet connection.
- Make sure your mobile number is active. Make sure it has the facility to send and receive an SMS or call.
- You have installed mobile banking and UPI apps.
- You have an active Net Banking account and login information.
Here are the different ways to log in to your bank account to check your bank account balance:
- Bank account login via net banking: Net banking is an important facility that every bank provides. You can ask to activate it when you open your account. You can also activate it at any point after opening an account. The bank will give you your username and login password.
Here’s how you can check your account balance using net banking:
- Open the bank’s net banking website.
- Log in to your bank account using your username and login password.
- You can choose which account you need to manage if you have multiple accounts at the same bank.
- You can easily check your bank balance, past transactions, account sheet, etc.You must make sure that you never share your login details with anyone. It must be highly safe in your custody.
- Bank account login via mobile apps: Mobile apps are an easier version of net banking. You don’t need a computer or laptop. You can use them with the same details as for net banking. These apps might also ask you to set up an mPIN. These mobile PINs make logging in easier. You don’t have to type in the username and login password every time. Just use the mPIN to login to your account on the app.
Here’s how you can check your balance using mobile apps:
- Download the app. Log in using your details and generate the mPIN. After generating an mPIN, you don’t need login details next time.
- Choose the option for checking your account balance.
- You can also open your account statement. You can see all recent transactions using this feature. Make sure you always log out of the app after using it. The same goes for net banking. This prevents anyone else from using your account on your device.
- Checking account balance using a UPI app:
UPI apps like Paytm, Google Pay, etc., have made cashless payments a trend. To use these apps, you must link your bank accounts. It is a simple process that requires your bank account details. The app then verifies your details with the bank. After verification, your account links up with the app’s interface. You can link multiple bank accounts in the same app. The app will also ask you to set up a 4- or 6-digit UPI PIN. You can only make transactions after putting in the UPI pin. You don’t need a bank login to check your balance with the UPI apps.
- Checking account balance using a UPI app:
- Here’s how you can use a UPI app to check your bank balance:
- Open the UPI app.
- Choose the account that you want to manage.
- By clicking on the account, you can select to see its balance.
- The app will ask you to put in the UPI pin. Without doing it, you cannot check your account balance.
- Getting balance alerts via SMS is one of the easiest ways to check your account balance. You don’t have to do a bank login on a website or app. You also don’t require a smartphone or internet connection. Most banks provide this facility to their account holders. Once activated, you can request a quick balance update anytime. You need to send a text message to a number provided by the bank. Then you will receive the balance details by text message.
- Checking your balance using the bank’s toll-free number: Most banks provide a toll-free number service to check account balances. It is an IVR-based service. To check the balance, you need to call that number. This might be the same number from which you get text alerts.
- Setting up text alerts: Banks set up the text alert facility when you open an account. So, whenever you make a transaction, you will get an alert. This alert also includes your account balance. However, sometimes you might not get these alerts. So, it is best to check the balance manually at regular intervals.
From this guide, you can see that checking account balances is super easy. You just need to log in on the internet banking website or the mobile app. You can also do it without logging in. You can also check your entire transaction history. It is a healthy financial habit to monitor your expenses regularly. But you must always remember to log out from the website or app after each use.
If you need help with finances, you can always take the help of experts such as Piramal Finance to guide you through your personal finance journey.