May 10, 2018

How to avoid common Banking mistakes?

Avoid common Banking mistakes
Stay Alert -  Series 16

Avoid common banking mistakes:

A bank can really save you money, but there are also ways in which you may lose money. 
If you are not proactive by identifying vulnerabilities and potentials errors, then you could be caught outside. 
Here are some of the common banking mistakes and how to avoid them?

Go over your bank Statements:
Many have their banking statements each month, open it and then throw it. If you do not look at your statements appropriately then you will not see errors on your account which could cost you much money. If there is a payment that you didn’t do, then before it gets late could avert on time, and there is also a chance that your card was copied and misused. The checking of your statements against all your purchases each month is vital and can save you from free fall.

Usually paying more than you spent:
Many are too lazy to compare the prices or to question the fees which they pay each month on their accounts. If you look at the fees you pay could note that you pay far too high. If it is the case then it is time to compare the fees with other institutions in similar vicinity or stream, because you could save much money every year right by not paying the expensive fees of banking operations.

Habit of leaving important papers around:
Ensure that you don not leave your bank account statement or other related documents unattended or exposed. If you throw information concerning your account then you be easy aim for robbers and defrauders of identity. You ensure that you preserve all information connected by bank in a safe place, and shred all the unwanted documents immediately.

Using ATM Card carefully:
Using an ATM, make sure that you take precautions. Do not note anywhere your PIN number close to your card, and ensure you that you protect / cover your pin when you type it. Realizing of the people around you when using ATM can stop the majority of a potential crime.

Accessing Net Banking in Public places:
Net Banking is very convenient and fast. Though sometimes you may need to login to your account urgently, checking your account online and carrying out transactions on a network without wire is not completely safe. There is a chance that somebody could reach your details, or that the transaction will be lost. Do banking transactions online at your house / secure network, if possible.

Maintaining relationship with nearby Bank:
To obtain the best businesses of your bank, then you need to draw up a relationship with them. If you have a local branch, then organize a meeting with the branch manager of bank so that you know who they are. Although you could never require their assistance, if there are any problems or you additional funds required in future then knowing your branch manager of bank can really help in fastening the process.

Borrowing from your bank:
If you were faithful to a bank during one moment, then perhaps it is time to reconsider this loyalty. Although you could think that your bank offers the best business, all the times that you want to buy to a new financial product you should compare the prices. There are many of other places, particularly online, which can offer great businesses to you on borrowing the money from the cards or the loans of credit rating. 

If you pay attention to your information on banking operations and compare the prices before buying the best businesses, then you can avoid the majority of these common personal mistakes / errors in dealing with your Bank.

Stay Alert and Stay Safe. 

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