Checking your bank statement

Dickens

M0nica

I still get a paper bank statement and I check every entry every month. Always have, always will.

I do exactly the same with my credit cards, one of which is on line.

Over the years we had our details leaked, although not recently and we have always picked up the dodgy entry within days.

I once had my mortgage payments cancelled in a bank mix up. I picked it up on my statement, immediately contacted the bank and had it all sorted before they had time to register it as a potential default

I think anyone who doesn't monitor where there money is going, deserves everything they get.

I do exactly the same with my credit cards, one of which is on line.

I wish the CC statements were more specific.

Instead of just stating 'Amazon mktplce' - an order number would be helpful.

Of course, you can always identify the amount but if you make several purchases which have been lumped together and then charged separately because they were delivered at different times, it can be confusing.

Because of this, I now always purchase items separately from Amazon, and never just 'add to basket'.

Your Amazon account online keeps all your orders details so you can check them there. Surely ordering everything separately means you pay more for delivery?

I have facial recognition on my phone for my online personal bank account and can check it in a matter of seconds- literally.
No need to wait for paper statements that are weeks behind or make trips to ATM machines.

The credit card which I use as a charge card for almost all purchases is checked twice a day online, at the same time as I check our business accounts.

All have been checked already this morning. It’s the first thing I do after making a coffee.

We have only ever been compromised once many years ago on a business card and the bank alerted us and stopped the transactions.
On two separate occasions the credit card company contacted me by text to check that transactions were mine as they were atypical. I was pleased that they did.

To an upthread comment about the cost of Amazon parcels - I suspect a lot (most) of us have Amazon Prime which provides free deliveries for a monthly fee.

I don’t have Amazon Prime but always tick the free postage thing. The parcel usually arrives the next day!

We have been with Nationwide for over 20 years and never had a problem, in their defence.

Primrose53

I recently changed to Nationwide so this advice is timely. thank you.

I've had two debit cards, and didn't have to do anything to activate either of them. Just had to wait for the PIN to arrive separately
I was told to use them with a pin the first time to activate them. All was fine.

I had two credit cards compromised a while ago. Nationwide was very prompt in sorting out the problem. M&S was very difficult t deal with.

I check my bank statement daily and only ever use my card for withdrawels at my bank.

We had a similar issue with an Amex card. Someone in New York was buying porn movies using our account.😱 I have to say Amex were on the ball immediately.

Most online transactions I do now ask me to go to my online bank and approve the payment first so things are tightening up. I'm with the TSB.

Mancjules

Most online transactions I do now ask me to go to my online bank and approve the payment first so things are tightening up. I'm with the TSB.

Yes. I find that happens more now.

I think it an excellent idea.

Germanshepherdsmum

You should always check your spam emails Nannarose. Opening them does no harm, just don’t click on any links.

Thanks GSM. I used to check the sender & subject - and delete if I didn't recognise. That's probably why I deleted the 'shopping club'. So now I will.

I have always used my debit cards for day to day transactions so that I know that whatever is in my bank accounts is mine to spend and no other payments are due to be taken. Any extra large paymts are made via credit card so that I have the extra guarantees.
Having read the above responses I'm now having a rethink and perhaps should be using my credit cards more although it might mean monitoring payments more closely as credit card amounts are cleared automatically from current accounts each month so would have to make sure sufficient funds are available each month.

Yes, you certainly should be using your credit cards for safety and for the additional protection that paying by credit card gives if there’s a problem with your purchase.

MerylStreep

NanKate
Can I ask why you don’t have online banking. If you did you could check your a/c as many times a day as you want instead of waiting a week.
Your bank account could have been wiped out in that week.

I totally agree with you. I've used online banking for years, I'd never go back to going into a bank or doing phone call transactions. I use the post office if I need to put money in. I'm 62 it's not hard.

I’ve had online banking almost since it was set up, we have three accounts between us, my mum also has me set up online banking for her and she had four accounts. We’ve not experienced any more fraud than you would using your debit card itself and credit cards can also be subject to fraud. I check our online accounts daily, as I did my mum’s accounts when she was with us.

I do agree with GSM about using credit cards for large purchases, gifts, holidays etc as there is more consumer protection and their chargebacks are quicker and easier (ie when items are disputed)

Hi I realise not everyone keen to have account linked to phone however I personally feel it helps to keep an eye on things 🙂

Been with Nationwide for 35 years, debit and credit cards, and mum and gran were too. Not had any problems, use online banking and when I've had OAP moments they've responded and helped kindly.

You can only initialise from a cash machine. I had to do mine recently.

My debit card hardly sees the light of day. I use credit cards for everything for the reasons set out by GSM above.

Really useful info has come up here, thanks. 👍

My youngest son ( 42 ) was recently a victim of Identity theft…he was sent a missive from Barclaycard refusing ‘his’ application to open a cc…luckily after this he spotted that a new card with HSBC had been opened up when he checked his Experian account ( a finance security site) …all of a whirl in a while whilst he tried to sort all this out …luckily it was resolved, but as HSBC said ( after £2000 had been taken out of that ‘new’ card….”how do we know to wasn’t you?”
A lesson to us all to check regularly!
For mei do check regularly because my accounts are in the red so often I have to keep a sharp eye on them!

A couple of years ago I was checking my online statements. I have 3 different accounts with same Bank.

Only 2 appeared which was most unusual. It had £10,000+ in it so I couldn’t understand where it had gone. I got in touch and apparently because I had not used that one for a long time they classed it as “dormant”. I argued that I hadn’t been told and I should still be able to keep track of it. What if I went doolally and forgot all about it, where would it end up? Or worse, if I died and my executors never knew it existed. I complained and they gave me £100 compensation I believe.

I pay in shops and online for most of my purchases with a debit card and for anything of value with credit card.

So far, so good.
But online banking is so convenient. I can check immediately and daily if I wish to.

Don’t risk it Greciangirl. It’s better to avoid your account being cleared out than to find out after the event. There is no good reason to pay for anything by debit card. And using your debit card doesn’t give as much protection as using your credit card if there are problems with your purchase, whatever the value. Some sites save your card details whether you agree or not, and can be hacked. Keep your debit card in your purse and only use it to withdraw cash!

Cardinal rule in this day and age of scammers is - check your balances Every Single Day.

I do first thing every morning when I get up. Online banking (which I do) is actually as safe as not doing it. But be vigilant and report immediately if you see or suspect something.

I read what MeryStreep wrote about Eastern European scamming organizations. TRUE!

The worst thing that could happen is if your identity is stolen. It can practically ruin your life and takes a long time to recover. Thankfully not me or my family or friends, but the news stories of how they do it are frightening.