Home   |  Issues  |  The Daily Star Home | Volume 5, Issue 24, Tuesday June 17, 2008



Please suggest some simple ways of withdrawals.
Consider withdrawing money from ATMs instead of standing in the queue at the branch or rushing to get to the branch during banking hours. Using a 'debit card' to pay for purchases from your bank account without writing a check is easier and much faster. Banking from home, by phone or computer, also can be a time-saver if your bank is providing this service.

Who do you turn for help during your banking needs?
Your bank employee(s) would be one of my first choices to turn to if you need any help. So, get their names and numbers. You could get to know which staff is cooperative and friendly in-person. Familiarise yourself to the particular staff in person and over phone. They would be the likely ones to help you if you are in a financial emergency, especially if they know you personally and that you have a good relationship with the bank.

How important is your monthly statement?
Your bank statements, credit card bills and other correspondence from your bank may not be a delightful reading but they contain the most important information about your finances. So, please take time to read your statements and other letters from the bank thoroughly. These pieces of literature will entail any charges, and penalties introduced. Not to mention if anyone was conducting a fraudulent transaction on your bank account or credit card, it would be reflected there. A lot of banks are quite automated nowadays. So, all transactions would be updated in the statements.

How important is to hold on to your bank receipts, contracts?
Holding on to your receipts for deposits, ATM withdrawals, credit card charges and other transactions are of utmost importance. These would re-confirm that your monthly account/credit card statements are correct. Once cross-checked and found okay, you could get rid of them. Preserving copies of any contracts or other documents signed with the bank (loans, certificates of deposit, etc.), along with any accompanying materials is necessary. If ever a discrepancy or dispute arises these papers would have be to referred back to.



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