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