I Am Not Your Mama

"Why didn't you call me to let me know this was happening?????"

Because I am not your mama.

If you are old enough to have a bank account, you are old enough to take care of it. Despite the common misconception that your bank will call you if something goes amiss, the truth is we don’t. Nor are we supposed to. 

You are responsible for handling your account. That means keeping an eye on transactions to be sure they are yours and accurate, promptly reporting anything that's wrong and making sure you have enough money in your account to cover your debits. (For you civilians: debits are any transactions that take money from your account. These include checks (if you’re old school), debit card transactions, electronic payments and such). 

How to keep an eye on your account - Let Me Count the Ways

There are so many ways to monitor your account these days, you realistically have zero excuses not to. 

If you’re Old School you can use the following tools: 

• ATM inquiries (24 hour access)
• Visit your branch
• Call the automated line (24 hour access)
• Check your monthly statement

If you live in the 21st century, try online/mobile banking. You can check your account on the go from: 

• A desktop computer
• Tablet
• Smart phone

What Should You Check?

• Make sure the debits coming through are yours and accurate
• Make sure the deposits posted correctly
• Make sure you know what debits still haven’t hit your account yet so you keep enough money in there to not get overdrawn. 

Wait, Why Am I Checking My Account All the Time? 

What a stupid question. But I know some of you out there don’t get it. (You’re the ones showing up on my NSF report. We’ll talk about that in another post). 

You’re checking your account for two main reasons: 

1. To be sure you don’t overdraw your account and

2. FRAUD FRAUD FRAUD!

Checking your account will alert you to fraudulent transactions sooner which will increase your chances of getting your money back or if not get your money back, at least minimizing your loss. Because, news flash Pinhead, if your account is subject to fraud…..it’s still on you!

You are responsible for not sharing your account information with creepy guys who call you, text you or send you emails from Nigeria. Also, you are responsible for keeping your checks and debit cards secured. That’s your job, big boy. Your neighborhood banker can’t follow you around to make sure you’re doing it right. So grow up and TCYB.

And of course, there's inevitable fraud that could happen to even the responsible customers like when large companies get hacked or organized groups who target regular people like you and me. Did you know there are large syndicates of bastards who sit around all day calling, emailing and hacking good citizens hoping to score information to access their accounts? I mean, like there are full on call center type groups of these criminals. 

We really hate those assholes. 

In the case of electronic errors and e-fraud, there are some protections for you (that’s one thing we can actually thank the government for). However, there are amount and time limits. So be sure to read the account agreement you were given when you opened your account as it outlines those protections and will tell you what to do to increase your chances of recovering lost funds. 

Let me guess, you threw away your account agreement without looking at it didn’t you? Typical. Well, Einstein, you can get a copy at anytime from your bank. Just ask them nicely and they’ll be happy (and surprised) to give it to you.  

So make sure you look at your account daily to lower your risk. I ain’t your mama and it’s a big scary world out there. Watch your back. 

Bank smart - The Snarky Banker