In this generation, everyone has a busy schedule, we keep forgetting something; sometimes to complete our task and sometimes we make mistake but we dont notice it and we dont even know what mistake we made but the one who is spying on you or looking after you for few days can take advantage of it so we should be careful every time and take time to complete our task so that we dont make mistake. Similarly, in this article, we are going to talk about mistakes we make while personal banking.
Everyone has an account in the bank, and we take different services from our bank to make transactions easier and faster (like; E-banking, ATM, E-Purchase). And when we make transactions we dont care we enter the ATM code freely, we log in to our E-banking showing username and password, and sometimes we say our passcode while swiping our card. These are the simple mistakes we make in our life and the next person is waiting for the perfect timing to make a transaction, so stay alert.
If you want to know what are the top 9 mistakes that we make while personal banking then this article is for you because today in this article we will mention the top 9 mistakes done by most of the bank account holders who made mistakes and regret it later.
Top 9 Mistakes We Make While Personal Banking
Below is the list of top 9 mistakes we make while banking, if you want to know and correct your mistakes then dont forget to read all of the 9 mistakes and stay aware and alert from them. So let’s start.
Failing to take ATM precautions
In our daily life, ATM can play an important role and can be a lifesaver when you urgently need cash but when you lose ATM or share its passcode it can heavy on you because anyone can withdraw cash from your ATM if you share your ATM passcode and ATM, so we should be smart and not share you ATM code or write it somewhere anyone can access.
When using an ATM we enter the code in front of our friends, coworker, or relatives, we dont think it can cause some damage in the future. We can’t trust anyone easily, otherwise, in the future, they might take advantage of it.
So, we should be careful to avoid unauthorized transactions and keep our ATM and ATM passcode secret. Don’t share with anyone even you trust them.
Paying bills by manually
Nowadays the technologies have changed and we get new and important features. Due to not being able to pay the money in time, we have to pay penalties. But using the features we can schedule the amount and time when and whom to send so instead of paying bills manually we can set the automatic settings to make transactions in time and stay away from penalties.
So if you want to stay away from the penalties then either you can set a reminder in your device and pay it manually but it’s far better you use the service of the bank and pay the bills automatically at the perfect time and avoid penalties.
Banking online in public places
When our friend or someone close needs money or after we shop anything we make online banking. And if you are making online banking in public then you should be careful. Someone might be noticing your username and passcode.
If you make online banking in the public then make sure no one is looking at your username and passcode while you log in to your bank otherwise anyone can log in to your bank account online if they know your username and passcode. Anyone can easily make transactions from your bank account using the application.
So, you should be aware while entering the username and passcode while making online banking in a public place. Make your username and passcode secure and secret so that no one can guess it.
Chasing higher Interest rates
If we dont do research before selecting the bank then in the future we might run from the higher interest rates, or we have to switch the bank, that’s frustrating. So before choosing the best bank you should do a little bit of research before opening the account on the bank and see for the future benefits as well. But we dont care and just open an account in the bank where our friends or relatives have an account on and that’s really not good because in the future if we have to take some loan then the interest rate will blow our mind.
So, if you want to avoid high-interest rates then you have to choose the best bank and open a bank account where there are future services or switch your bank today. And you can also open a bank account at the same time when you need the loan but you have to work hard to pass the loan due to lack of trust.
Using an easy password
We have several account and username and passcode of it. To remember the username and passcode what we usually do is enter the same username and passcode. And we dont notice that we have shared a few passcodes with our relatives and friends. And while using the ATM or Online banking they can get hints while you entering it. That is the reason why you should keep a strong, unique, and number & character mix passcode otherwise you can use unauthorized transition in your bank account.
So if you want to avoid unauthorized transactions in your bank account then you should keep your password private and long so that no one can easily guess. Never use the weak and same passcode in your personal banking account, try to make it strong and secure.
Skipping the fine bill print
While using online banking and swiping the card we should be careful because sometimes we get blurry and unclear print due to lack of ink in the machine. But the bill is important in our business or daily life to keep record and monitor over our bank account. We should know what we brought and where we spend our money so that in the future it will be easy for us to calculate the amount.
So, if you want to avoid unclear print then dont forget to check the bill and the list on the bill sometime we take someone else bill. And if you think your bill has displaced or has blurry and unclear print then talk with the authorized person and ask for the finest bill print so that you can read the transaction.
Not reviewing your bank statement promptly
The biggest mistake of many users is they dont open their account and check the bank statement when they receive it. You should make habit of reading the statement once a month so that you will be alert about your income and expenditure, unauthorized transactions, mistakes on your account, and flow of your money. From the statement, you can know everything about your bank account. So make sure you review your bank statement.
To avoid errors, unauthorized transactions in your bank account you should check your bank statement once a month.
Using different ATMs
Sometimes we withdraw money from a random ATM when we are in hurry or usually when we get bored but we dont notice that we have to pay an extra charge for using the other bank ATM and we in every transaction our bank deduct few charges for using the ATM of another bank so we should be alert if we have time then take time to visit your nearest ATM of your bank otherwise we have to pay extra charge uselessly.
So to avoid an extra charge on ATM, use the ATM of your bank only. And if it’s really hurried, you need cash urgently then you can withdraw from another ATM but you have to pay some extra charge.
Paying unnecessary fees and bank charges
When we open the account in the bank for the first time we can fill the services that we want to take from the bank, and we can add extra services but they will reduce some extra fees for the services. And many banks also advertises and suggest us to activate other services and we agree to activate it but you should be careful because one service can perform the task of other services by ATM can do the work of check if you just withdraw few money in a day, and Online banking can do the work of mobile notification. So dont activate too many services just choose which are necessary for you.
So to avoid extra fees from the bank, just choose the best and alternative service to stay away from extra additional charges.
If you have an account in the bank and if you are doing personal banking then you might also have made some mistakes in your life but you haven’t noticed, that’s why we have brought this article for you guys to stay alert and be aware of mistakes that we make while personal banking. Above in this article, we have mentioned the top 9 mistakes we make while personal banking dont forget to read it, this might be helpful for you to avoid such problems while personal banking.
And if you have any queries or suggestions regarding this article then you can leave us a comment in the comment box below.
Besides if you want helpful guidance on finance or banking then you can go to the Finance Category from our official website Online Help Guide.