diff --git a/transaction-status/src/token_balances.rs b/transaction-status/src/token_balances.rs
index 03c3a16c1efba3..8368bdc92b1314 100644
--- a/transaction-status/src/token_balances.rs
+++ b/transaction-status/src/token_balances.rs
@@ -59,25 +59,22 @@ pub fn collect_token_balances(
 
     for (_, transaction) in OrderedIterator::new(batch.transactions(), batch.iteration_order()) {
         let account_keys = &transaction.message.account_keys;
-        let mut fetch_account_hash: HashMap<u8, bool> = HashMap::new();
-        for instruction in transaction.message.instructions.iter() {
-            if let Some(program_id) = account_keys.get(instruction.program_id_index as usize) {
-                if is_token_program(&program_id) {
-                    for account in &instruction.accounts {
-                        fetch_account_hash.insert(*account, true);
-                    }
-                }
-            }
-        }
+        let has_token_program = account_keys.iter().any(|p| is_token_program(p));
 
         let mut transaction_balances: Vec<TransactionTokenBalance> = vec![];
-        for index in fetch_account_hash.keys() {
-            if let Some(account_id) = account_keys.get(*index as usize) {
+        if has_token_program {
+            for (index, account_id) in account_keys.iter().enumerate() {
+                if is_token_program(account_id)
+                    || transaction.message.program_ids().contains(&account_id)
+                {
+                    continue;
+                }
+
                 if let Some((mint, ui_token_amount)) =
                     collect_token_balance_from_account(&bank, account_id, &mut mint_decimals)
                 {
                     transaction_balances.push(TransactionTokenBalance {
-                        account_index: *index,
+                        account_index: index as u8,
                         mint,
                         ui_token_amount,
                     });