A friend of mine withdrew some cash from his account a few months back and unfortunately he got ill and spent two months in hospital and a few more weeks laid up in bed at his home as he recovered. Next time he went banking he found out that he'd overdrawn his account when he'd withdrawn cash from his account and naturally he'd been charged some crazy overdraft fees. Had he known the exact amount of money he had in his account, he wouldn't have got himself in the predicament. Question: do you guys check you account balances regularly to avoid . . . trouble? Some people have cash stolen from their accounts by scammers so even if an overdraft isn't something that should worry you, then this at least this should.
To be honest I actually do but not because I'm worried about getting overdrawn but more out of habit I guess. Ever since I got a job and fixed my bank account I tend to check on it every time I make withdrawals, purchase something or just to check if my salary was up yet.
I usually withdraw cash from an ATM maybe once a week, after which I keep the receipt which has details of date, time, balance and where I withdrew the cash from. I keep these receipts and counter check at the end of every month that there are no suspicious or unexplained charges or withdrawals. I'm sure you can always ask for your balance at the counter if you transact in the bank itself. It always helps to be vigilant as we all work hard for our money.
I usually have a general idea how much is in my account, perhaps not down to the dollar but a good idea. When I withdraw from my account, it only allows me to take out what I have in and since I don't write checks, I don't have to worry about overdraft fees.
I actually check my account a lot more than I ever use it! Both my Paypal and my bank account. I don't need to, but I just... feel safer knowing how much I have and to know what would be within my possibilities with those amounts.
I check my account balances daily. By checking my account balance daily I am able to keep up with the amount of money I have available in my account. Also, I check my account balance daily to see if all of my debit cards transactions posted. I use my debit card for almost all of my purchases. I noticed that when I purchase things with my debit card everything doesn't post on that same day. I have to check my account daily to see what purchases have cleared. It is a terrible feeling when you are overdrawn on your account, and it costs you so much money in fees. I remember being overdrawn on my account by a few cents and I was still charged a $35 overdraft fee. Banks can really get you in fees if you are not careful.
