Bank account balance simply means the amount of money that is remaining in your bank account. This term can be used both for the savings bank account and the current bank accounts. (CASA) Not only ICICI Bank but every Indian bank has more than 1 method to check the remaining balance.
If you are interested to know about each and every method to check the balance of your ICICI Bank Account. Then don’t miss out on any point in this article. Because we have explained each and every method that can be used by the customers of the ICICI Bank to check the remaining balance.
What is the Formal Definition of Bank Account Balance?
I have already explained the meaning of the word bank account balance in simple words. But when we are talking about banking and investing stuff. There is some technical stuff or formal definitions. So let us learn about the formal definition of the bank account balance.
It is the monetary value or the asset that is available in your bank account. This monetary value can be both positive and negative. The customer of the bank will be able to withdraw this value only when it is positive. If this value is negative then it means that the customer is liable to pay back the bank.
The ICICI Bank account balance is displayed in terms of the primary currency of the bank account. More than 90% of the accounts in India have Indian Rupees as the primary currency. But we may also find some other currencies like USD in some exceptional cases.
What is Negative and Positive Account Balance?
Let’s start with the positive bank account balance. In this case, you, being the customer of the ICICI Bank withdraw money from the bank account using an ATM, Cheque, transfer money, etc. In simple words, this is a balance that is greater than 0.
And the negative balance is when the customer of the bank has to payback. This is the balance which is smaller than 0. In this case, you can not withdraw any kind of money from your bank account. Be it any channel like ATM, internet banking, or mobile banking.
When We Come Across Negative Balance?
There are many circumstances when we can see a negative bank account balance. I will try to explain a few of them to you here.
The first case is when you don’t maintain the monthly average balance for a long period of time.
In this case, your bank account balance can go below zero. And you have to pay it back to the bank. Even if you decide to close down the bank account. The bank will not allow you to do that without paying back the negative balance.
The second case is when you have taken a loan from the bank. In this case, it is very obvious that you will see the balance as outstanding in your account. As you start paying back the loan your outstanding balance which is a kind of negative balance near to 0.
Which are the Methods to Check My ICICI Bank Account Balance
There are many methods the customers can use to check the ICICI Bank account balance. Find them all below.
Logging in into Internet Banking
To use this method to check your ICICI Bank account balance. First, you have to register to use the internet banking service of the ICICI Bank. If you have already registered to use it. Then there is no need to again activate the service. Just login to your internet banking account, select the bank account, and click on view balance. By doing this you will be able to check the remaining balance in realtime.
Installing the Mobile Banking App
Install the mobile banking application of the bank on your smartphone. Login into your account, you can use the same login details you use to access the internet banking facility. The mobile banking app of the ICICI Bank is well designed. The user interface of the app is very good so you will not face any difficulties in finding the balance remaining in your account balance. There are separate apps for Android Users and iOS Users.
Going to the Branch of the ICICI Bank
Go to any branch of ICICI Bank, approach the people working for the bank. Provide them your bank account number and ask then your bank account balance. The employees will not share the balance details instantly. After providing your account number you have to show an identity proof document to them. Once it is verified that it is your bank account. You will be given the details of the balance in your account.
Using the Balance Enquiry Number
There are specific phone numbers that are given by the ICICI Bank to its customers. To check the balance there is a separate phone number. Just copy that phone number, dial it from your phone. This call will not be answered by anyone, it will be automatically disconnected. The bank will send you the SMS which will contain all the details of your account balance.