BANKING AFFAIRS

Detailed explanation-1: -You should monitor your checking account at least once or twice a week. The more activity and transactions you make, the more often you should check your account. You should check your balance and your transactions for accuracy. We make it easy to manage your account with online banking and our mobile app.

Detailed explanation-2: -Most banks or credit unions will send a statement every month. However, banks and credit unions only have to send a monthly statement if you made at least one electronic fund transfer that month.

Detailed explanation-3: -Keeping an eye on your checking account regularly can help you spot potentially fraudulent activity and prevent financial losses before they happen. For example, an identity thief may obtain your debit card number and make a small test purchase hoping that you won’t notice.

Detailed explanation-4: -Reconciling your spending with your balance helps prevent overspending, which could lead to overdraft fees or checks being returned due to insufficient funds. A great way to stay ahead of spending is to keep a running balance of what’s available in your account.

Detailed explanation-5: -Key Takeaways. A bank statement is a list of all transactions for a bank account over a set period, usually monthly. The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period.