The Importance of Checking Your Bank Accounts Regularly

| June 3, 2013 | 24 Comments

checking-your-bank-accounts

When I first moved out of my parents house and got my first job, tracking my spending and my income was a breeze. I had no more than four bills to pay per month and my job was salaried so I made the same amount of money every two weeks. It never occurred to me how important checking your bank accounts was until I got a bit older.

Three years later things have definitely changed: I have several more bills to pay, a few investments, and income from about four different gigs. Basically, the older and richer I get, the more complicated my finances also become. Not that I’m complaining exactly, but it does make it more difficult to track my spending and make sure everything looks as it should in all of my bank accounts.

Case in point, my HB was looking at his bank account yesterday to check to see if he paid me back for something and he noticed that something didn’t look quite right. The balance in his chequing account looked a bit lower than the last time he checked it and it turns out it’s because someone stole his money! Someone in Miami of all places! I guess someone somehow got a hold of his card number, went to a Moneytree in Miami (my HB googled the address), and then stole $400 right out of his account!

Luckily his bank is great and when he called to explain the situation they said they would send him a new card and refund him his money right away. But it just goes to show how important it is to check your bank accounts (and credit cards too) regularly. I’d say checking it once a week is probably a good idea, though me being a personal finance blogger and somewhat obsessed with my finances, I check my accounts through Mint.com every few days. Good thing we got everything sorted out before leaving for our California honeymoon tomorrow, that’s all I gotta say!

How often are you checking your bank accounts? Have you ever had money stolen right out of your bank account?

(Image: pedrojperez/morguefile)

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Category: Mo' Money, Saving Money & Budgeting

Comments (24)

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  1. I love bodyworlds! When it was in town, we ended up going twice: once with my wife and I and once with her relatives.

    I’m a firm believer in organ donation. It’s kinda greedy to keep all that goo to yourself when clearly: you don’t need it anymore :)

  2. Totally agree. I felt really compelled to become an organ donor after watching 65RedRoses, a doc made by two Vancouver filmmakers about this girl Eva who needs a double lung transplant. Really powerful film if you’re interested http://www.65redroses.com/

  3. Michelle says:

    Gah that sucks! I check our accounts nearly everyday. There’s something wrong at least once a month!

  4. Do you guys have a service like mint available in Canada? It makes checking your accounts ridiculously easy.

  5. Just like Mrs PoP I love using Mint.com. It makes things so much easier than it used to be. I remember when I was younger and I would see my mom balancing the checkbook. That just shows how far technology has come.

  6. Jordann says:

    Ahh! $400 is a lot! I check my accounts every day, or when I’m really busy, every few days. I would flip out if someone took that much money from me!

  7. I check A LOT and have become a lot more diligent over the last year going over every line item. I once had someone take one of those credit card offers out of my mailbox and use it to sign up for a credit card. It was a huge pain to get it fixed, but luckily I did and now shred those kinds of things before I throw them away.

  8. I check it a couple of times a week through mint. My wife gets a little upset from time to time I will she gifts purchased for myself. She normally tells me to not check now to avoid that.

  9. Holly Johnson says:

    That’s crazy! I watch my account like a hawk. I hope you get things worked out!

  10. Student Debt Survivor says:

    I probably check every week or so (sometimes every other week), that’s bad I really probably need to check at least twice a week. I would have panicked if $400 was missing from my account. Glad it got resolved.

  11. I have an SMS service, so I can check my bank accounts as often I as I want, for free! it´s kinda addictive, but I like having control over my money:-)

  12. moneyandpotatoes says:

    I’ve had false charges show up on my debit card, which is from my main bank account. Disputed it with the bank and got my money back. Same with the credit card. had to have a card replaced because someone stole my info and was charging plane tickets. Luckily visa caught it, and the charges were reversed, but still annoying and scary your money can be that easily taken.

  13. I check pretty much daily… thanks mint.com!

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