Sunday , April 14 2024

What to Look for on Your Bank Statement

If you’re like most people, you probably don’t pay much attention to your bank statement. But it’s important to take a few minutes each month to review your statement and make sure everything looks right. Here’s what to look for on your bank statement.

1. Account Balance: The first thing you should check is your account balance. Make sure the balance matches what you expect it to be. If there’s a discrepancy, contact your bank right away.

2. Transactions: Review all of the transactions on your statement. Make sure you recognize each one and that the amounts are correct. If you see any suspicious transactions, contact your bank immediately.

3. Fees: Look for any fees that have been charged to your account. These could include overdraft fees, ATM fees, or monthly service fees. Make sure you understand why the fees were charged and that you agree with them.

4. Interest: Check to see if any interest has been credited to your account. This could be from a savings account or a checking account. Make sure the amount is correct and that you’re getting the best rate possible.

5. Deposits: Review all of the deposits that have been made to your account. Make sure the amounts are correct and that you recognize each one.

6. Payments: Look for any payments that have been made from your account. This could include loan payments, credit card payments, or other bills. Make sure the amounts are correct and that you recognize each one.

By taking a few minutes each month to review your bank statement, you can make sure your account is in good shape and that you’re not being charged any unnecessary fees. If you ever have any questions or concerns, don’t hesitate to contact your bank.

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