| Some may believe that losing money from a | | | | as soon as you get it in the mail, or if you |
| personal checking account mainly takes place | | | | have online banking, every few days or so. |
| through online transactions. The truth is | | | | All transactions, whether they are authorized |
| there are several ways that scam artists can | | | | or not, will eventually show up on your |
| get money out of your account if you are not | | | | statement. Keeping close tabs on your |
| careful. | | | | statement will not only alert you when |
| | | | something is amiss but it will also keep you |
| Two important pieces of information that you | | | | from bouncing checks in many cases. |
| should never give out about your checking | | | | |
| account unless you know for certain who you | | | | If you discover a problem it is important to |
| are dealing with are the account number and | | | | contact the bank as quickly as possible. If |
| the bank routing number. | | | | you believe that someone has gained access to |
| | | | your account, tell the bank and follow their |
| Having both of these numbers makes it far | | | | instructions. In some cases, you may need to |
| easier for scam artists to get funds out of | | | | put a hold on the account. Some banks may |
| your checking account. A good rule of thumb | | | | want a written statement as to what happened. |
| is to never give out this information unless | | | | If this is the case, make sure you get that |
| you know the company asking for it or unless | | | | to them. You will also want to keep copies of |
| you were the one to initiate the transaction. | | | | all documents that you and the bank exchange |
| | | | as the problem is worked out. In cases of |
| The above is true for internet transactions | | | | fraud, it is also a good idea to contact your |
| but it is also true for telephone | | | | local police or the state attorney general. |
| transactions. Many of today's criminals are | | | | |
| finding it more profitable to do their | | | | Sometimes it is not criminals who get us into |
| business over the phone. These calls, when | | | | trouble with out checking accounts but rather |
| they come, sound very authentic and | | | | ourselves. You may not be aware of it, but |
| persuasive. Do not fall for that. If they ask | | | | checks are being processed faster today than |
| you for your checking account information, do | | | | ever before. |
| not give it to them. If you do, they may | | | | |
| create what is known as a demand draft which | | | | Many places that take checks will convert |
| they can use to take funds out of your | | | | your written check to an electronic payment, |
| account. They may also use the information to | | | | which allows the money to be withdrawn from |
| make an electronic funds transfer, which also | | | | your account sooner. Needless to say, if you |
| results in you losing your money. | | | | do not have enough funds in your checking |
| | | | account when you write a check or authorize a |
| The second most important thing to do to | | | | debit, you could end up with an overdraft and |
| protect your checking account from | | | | have to pay the fees for that. |
| unauthorized use is to review your statement | | | | |