Some may believe that losing money from a personal checking account mainly takes place through online transactions. The truth is there are several ways that scam artists can get money out of your account if you are not careful.
Two important
pieces of information that you should never give out about your checking
account unless you know for certain who you are dealing with are the account
number and the bank routing number.
Having both of
these numbers makes it far easier for scam artists to get funds out of your
checking account. A good rule of thumb is to never give out this information
unless you know the company asking for it or unless you were the one to
initiate the transaction.
The above is true
for internet transactions but it is also true for telephone transactions. Many
of today's criminals are finding it more profitable to do their business over
the phone. These calls, when they come, sound very authentic and persuasive. Do
not fall for that. If they ask you for your checking account information, do
not give it to them. If you do, they may create what is known as a demand draft
which they can use to take funds out of your account. They may also use the
information to make an electronic funds transfer, which also results in you
losing your money.
The second most
important thing to do to protect your checking account from unauthorized use is
to review your statement as soon as you get it in the mail, or if you have
online banking, every few days or so. All transactions, whether they are
authorized or not, will eventually show up on your statement. Keeping close tabs
on your statement will not only alert you when something is amiss but it will
also keep you from bouncing checks in many cases.
If you discover a
problem it is important to contact the bank as quickly as possible. If you
believe that someone has gained access to your account, tell the bank and
follow their instructions. In some cases, you may need to put a hold on the
account. Some banks may want a written statement as to what happened. If this
is the case, make sure you get that to them. You will also want to keep copies
of all documents that you and the bank exchange as the problem is worked out.
In cases of fraud, it is also a good idea to contact your local police or the
state attorney general.
Sometimes it is not
criminals who get us into trouble with our checking accounts but rather
ourselves. You may not be aware of it, but checks are being processed faster
today than ever before.
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