Woodlands Bank News

Tips to Manage Your Checking Account

Tips to Manage Your Checking Account.

Don’t feel as if you’re alone if you get stressed out keeping track of your checking account.
“Those who find it challenging to keep track of transactions and their balance can avoid overdrafts and fees by signing up to have overdrafts linked to a line of credit, savings account, or credit card,” says Nessa Feddis, American Bankers Association senior federal counsel and retail banking expert.


Even so, Feddis emphasizes that it’s important for consumers to keep track of their checking account transactions and balances because only they are aware of the transactions they have authorized that may not have been processed yet.


The ABA offers the following tips to help consumers reduce the chances of bounced checks or overdraft fees:

-- Do not write a check if you don’t have the funds;

-- Reconcile your account by keeping track of all transactions;

-- Be aware that not all transactions are processed in real time and may be presented to an account at different times;

-- Do not rely on float -- the time it takes for a check to clear; and

-- Remember that overdraft protection programs are there for an emergency and should be used accordingly.

*Courtesy of American Bankers Association