Periodically check your bank A/c statements
Try to check and reconcile your bank statements at least every month. Try to use good software like Microsoft Money to track your finances. I have A/c with number of private banks and all are offering net banking facility. I usually download my bank statements (which have the facility to transfer funds online) every week and tally with Microsoft Money and check the statements in monthly intervals for banks which do not offer online fund transfer facility. But my recent experience proved that I must be more vigilant. What else I can Say? When I check my KVB Rainbow Saving A/c statement, I shocked to see that Rs.15000 is missing from my A/c. On scrutiny of the bank transaction statement, I found that a debit of Rs.15000 on 30.11.2006 by a self cheque using loose cheque leaf available at the bank branch. As my fixed deposits (FDs) are linked to my savings A/c, a portion of my FD was used to pay that cheque. As the branch manager is my neighbor, I informed him the same at 6.45am. He found that in the loose cheque leaves customer themselves fill the A/c no. One of their customers wrongly filled my Ac no. instead of his and the teller paid the cheque without verifying the credentials. By 12 noon I got the money back. But all the stories may not have the same happy end. The lesson is check and reconcile ALL your bank A/c statements every fortnight
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