Balance Check

A balance check is a query that returns the current balance of an account, card or wallet. Customers make balance checks at ATMs, in banking apps, by text message or through automated phone lines, and card schemes support balance inquiry messages that let an issuer return the available amount to an ATM or, for prepaid and gift cards, to a point-of-sale terminal. In open banking, a third party can check a balance through an account information API with the customer's consent, for example so a lender can confirm affordability or a payment app can avoid initiating a payment that would fail. A narrower variant, the funds confirmation, returns only a yes or no answer about whether a set amount is available. Balance checks usually distinguish the ledger balance from the available balance, which subtracts holds and pending items. ATM balance inquiries at another bank's machine may carry a fee. Related services include balance caching and open banking APIs.