A current account balance is the amount of funds available at present in a monetary account, such as a checking or savings account. People may keep track of their current account balance by writing down all transactions in a check register or budget book, or through a computer software budgeting program. It is also possible to learn the current balance in an account by calling the bank and requesting the information, logging onto the account web site, or sometimes even sending a text message. It is important to keep careful track of the money in all accounts to be sure that any payments or checks do not bounce.
An account may have a positive or negative current account balance. A positive balance means that the account is currently in good standing, and that funds are available in the account, even if the funds are very low. A negative account balance occurs when an account is overdrawn, such as when checks are written for more than the amount available in the account. The negative account balance will often continue to increase due to fees that are charged for returned checks. It is important to deposit money as soon as possible into the account to cover the negative balance.
It is also important to remember that the current account balance given by a bank, or shown on the web site, may not include all of the most recent transactions. This is why many people choose to keep a checkbook in addition to tracking account balances online. This balance difference can occur if checks are mailed to a company and not immediately cashed, for example; the bank might then show the current account balance as being much higher than it actually is. This could lead to mistakes and bounced checks if it is not kept track of.
Many banks have attempted to make it easier to find one's current account balance. By sending a text message to the bank, it is sometimes possible to learn information such as this. In addition, some banks or budgeting software will send an alert to a cell phone or email account if the balance dips below a certain amount, as a type of warning. Users can generally specify the amount at which they want to receive notifications; additional notifications such as deposits or withdrawals can also sometimes be set up as well. This makes it easier to keep track of bank accounts on the go.