Check Bank Statements

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by Renae Chiovaro on October 23, 2013

Do you pay attention to your bank statements? There is good reason that you should!

We received a quarterly statement from Capt. M’s savings account. Four months ago his bank started charging us $5 a month for the account. That’s $20 that was taken from his account! When I signed up for his savings account, I was told that since he is a minor, his account would be free with no minimum balance.

I went into the bank with the statement with full intentions to close the account. There is no use having a savings account if we are just going to loose money! When I met with the bank manager and explained the situation, she agreed with me that the savings account was supposed to be free. She has no idea why all of the sudden fees started occurring.

Luckily she refunded us the $20. She also made a note in the account stating that it is a free account until Capt. M turns 18.

Lesson learned; pay attention to statements. Even if it is an account you don’t use often. Always check and make sure that a fee isn’t being charged.

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Renae Chiovaro

Renae is a married working mom of two handsome boys. She works as a registered dental hygienist by day and blogs here at How to Have it All by night. She enjoys cooking from scratch, working in her vegetable garden and functional training.