Sean Adams
10-12-2005, 12:35 PM
This is not a nesessity but it is something I have done everyday for at least the last 10 years... and I am making it a tip of the day because I just spoke to a business owner who had some serious banking issues.
Most banks have an automated phone number you can call and access your bank account. I do this everyday. I check which checks have cleared, what has been automatically deducted from the account, when deposits are made accessible, etc... Everyday at 2 pm I check this and it takes about 5 minutes. I know what is in the bank to the decimal point at all times.
I spoke to a business owner who bounced a bunch of checks - he could not figure out what was going on. He went through a nightmare trying to figure things out...ended up a former employee stole a book of checks and ran around town and cashed over $2,000 in checks. The first check was for $50 and the other bogus checks were not written until 4 days later. If he was checking it daily his former employee (who is now in jail) would have only gotten away with $50.
Like I said, not a necessity but nice to do if you have the time and want the peace of mind.
Most banks have an automated phone number you can call and access your bank account. I do this everyday. I check which checks have cleared, what has been automatically deducted from the account, when deposits are made accessible, etc... Everyday at 2 pm I check this and it takes about 5 minutes. I know what is in the bank to the decimal point at all times.
I spoke to a business owner who bounced a bunch of checks - he could not figure out what was going on. He went through a nightmare trying to figure things out...ended up a former employee stole a book of checks and ran around town and cashed over $2,000 in checks. The first check was for $50 and the other bogus checks were not written until 4 days later. If he was checking it daily his former employee (who is now in jail) would have only gotten away with $50.
Like I said, not a necessity but nice to do if you have the time and want the peace of mind.