OT Do you check your bank statement?

Dave H (MI) · Feb 1, 2017

I'm a CPA, so I feel kinda guilty if I don't. First of the month so I am paying bills/checking accounts. I have a multi layered series of bank accounts, some on-line and other not and they all feed into one account that pays all the bills. Seemed like the outflows were a little on the large side for January. It is an expensive month with little revenue and a lot of spending for supplies. Even so, I found that my card had been used by a third party. $200 to a girls clothing store, $79 to a sporting goods store and $26.xx to Walmart. The Walmart charge is kind of creepy. I was in the store and bought an item for < $2. Almost at the same time, the second charge for $26 went thru without me knowing it. I used self checkout and it had a chip reader. Schwab just shut down my credit card. They expect to be reimbursing me in full. I am on a cash basis for the next few days.

rrlund · Feb 1, 2017

Well,your daughter is off at college. Did you check with her? A girl's gotta live you know. lol

Geo-TH,In · Feb 1, 2017

Check mine every month. Made a spreadsheet program to check bank's math. Sometimes they error in my favor. Never seen bank say I owe them.

coshoo · Feb 1, 2017

Somebody hacked my card, and bought a lap top for 749 bucks. I learned of it when the credit card company called and alerted me. Fine, cancel card, new one issued, no problem. Got the bill, and they had debited the 749 twice, and only credited it once. Called the "customer service" line (in quotes for the obvious reason- they consider "service" in the same sense as your AI guy does)- they turned me over to their investigation division- they gave me a number to call. Called it today, they put me on hold so they could continually reassure me that my call was important to them, right up to the time they hung up on me.

As Roseanne Roseannadanna used to say, "Its always something."

RayP(MI) · Feb 1, 2017

Checking accounts are reconciled two or three times a month. Can access up to date information at any time via internet.
Credit card statement is gone over with a fine tooth comb. Unfortunately, is a pain to access it on line.

chuck2015 · Feb 1, 2017

(quoted from post at 13:33:51 02/01/17) I'm a CPA, so I feel kinda guilty if I don't. First of the month so I am paying bills/checking accounts. I have a multi layered series of bank accounts, some on-line and other not and they all feed into one account that pays all the bills. Seemed like the outflows were a little on the large side for January. It is an expensive month with little revenue and a lot of spending for supplies. Even so, I found that my card had been used by a third party. $200 to a girls clothing store, $79 to a sporting goods store and $26.xx to Walmart. The Walmart charge is kind of creepy. I was in the store and bought an item for < $2. Almost at the same time, the second charge for $26 went thru without me knowing it. I used self checkout and it had a chip reader. Schwab just shut down my credit card. They expect to be reimbursing me in full. I am on a cash basis for the next few days.

credit card fraud is rampant, to the tune of billions every year. My card was used to buy about $330 at Apple. They did credit me that amount back but I had to sign an affadavit affirming that it was not me who had made the purchase.

Bob M · Feb 1, 2017

My credit card got hacked a couple weeks ago. Found out when my bank called to ask whether I had purchased $800+ of groceries at 2 WalMart stores in the Atlanta area earlier that morning. Told them no - I'm in rural upstate NY and that my card was still was safely in my wallet.

The bank immediately removed the fraudulent charges and canceled the credit card account. They issued me new account number/card a few days later.

I now go online to check activity on the new card activity every couple days, and immediately each time after using the card. So now also my wife's VISA and our oil company cards.

steve_in_mo · Feb 1, 2017

You're missing the clue. Don't bother trying to get the merchant to fix the problem.
Go back to the credit card company. You had two frauds, "probably" both done by the
retailer. Have the credit card company take the rest of your money back from the thieves.

Steve A W · Feb 1, 2017

That has happened to my wife and I a couple of times.
Each time the bank caught it. My wife works for the bank
So they knew she wasn't in Russia.
Now she has it set up so she gets an email anytime our
cards get used.
That kinda doesn't work in my favor.

Steve A W

Glen SW Wi · Feb 1, 2017

Check my CC balance most every day. I was checking it one Saturday evening and found over $5,000 in strange charges. As I was trying to find out where the charges were made, the CC fraud dept. called me and questioned me about the charges. They were made in several states on the same day. I ended up only paying for the one charge of $168.40. I was issued a new card and signed a form that the excess charges were not mine.

coshoo · Feb 1, 2017

No, I didn't call the merchant- my conversations were with the credit card company.

Dave H (MI) · Feb 1, 2017

The younger was out back spreading some feed around and the older is...well, you know where the older is, so I called her up. They both know the girls clothing store but have never bought anything there. The amount was $200 even....so likely a gift card. Guess it is a good thing they hit me so close to bill pay day.

old · Feb 1, 2017

I almost never check my bank statement but I do go in the bank 2 or 3 times a week and double check my account balance to make sure something is not coming out that should not be. I can quote my account number right off the top of my head but most of the gals in the bank know me well enough that they have my account pulled up before I even reach the counter. O have caught a few odd things on my account that way and have had them fix them fast and question who what and why etc

Spook · Feb 1, 2017

I had the same thing happen 2 weeks ago. I bought some stuff at Walmart, didn't have any problems. Next morning, I get a text message if I had just used a online service? I want even on the next, it was about 6 am, I had just got up. I called the text number, then I found that 2 other charges had been made, since my wallmart purchases. Then wiped all 3 charges off, but I thought it was curious that it all came after being at Walmart. Self checkout also.

Btw, Howell Walmart.

Spook · Feb 1, 2017

And I used the chip card?

TomA in CA · Feb 1, 2017

I only use Visa debit card. Check my bank app on smartphone almost daily. I always reconcile with Quicken eventually.My bank has caught some fraud and canceled my card automatically before I even found it.

farmerwithmutt · Feb 1, 2017

I check mine daily. It doesn't take long and worth the effort . got a small credit card wont let them raise it. Years ago found some funny charges on the bank account and one place i called made skateboards the Secretary when i explained what happened said wait a minute then she was gone after a little bit she came back on the phone saying we got it apparently it was just put on the truck and was ready to take off and they got it stopped if i had waited one minute longer someone would have got a free 125 dollar skateboard .

onefarmer · Feb 1, 2017

Gotta keep an eye on it. Sams club gas charged me twice for the same fill up two months apart. I called the CC to argue it and they tried telling me it was two separate charges. I asked them to look at the transaction ID. He did and admitted it was the same and took the second charge off.

massey 333 · Feb 1, 2017

The Magic word seems tobe Wally's Place and just yesterday,lady in bank was saying they are getting complaints on bad charges and they have all gone back to WM usage at some recent time.

730virgil · Feb 1, 2017

i check my bank accounts at least once sometimes 3 times a day if i,m waiting to see when a large check has been cashed.

Ken Macfarlane · Feb 1, 2017

The scammers have figured out how to install skimmers on the chip card slot. They are finding them regularly now on terminals.

Dave H (MI) · Feb 1, 2017

Irv, mine was at Lyon Twp on Milford Rd. We had gone to dinner over in Troy and were on our way home.

Spook · Feb 1, 2017

(quoted from post at 18:35:50 02/01/17) Irv, mine was at Lyon Twp on Milford Rd. We had gone to dinner over in Troy and were on our way home.

I've been to that store, but not in a couple years. One funny thing is that one of the charges was a website that looks into your identity. Gives addresses, places lived, phone numbers. I am kinda scared that somebody is going for a full blown identity theft, I've always had very good credit scores, I'd hate to have that messed with.

Rollie NE PA · Feb 1, 2017

I check my checking account every Friday. I don't use a credit or debit card at retail outlets. About the only time I use a credit card is if I am making a hotel reservation.
My daughter has had her debit card hacked or what ever you call it. My son in law had his credit card skimmed while walking thru a airport while it was in his wallet. He now has his cards in one of those aluminum card protector.

tractorguy2 · Feb 1, 2017

I live in a rural area. Every store but one still takes checks. I only use the credit card for online purchases.

I only have two credit cards.Each card has had the number stolen once. First card someone charged $3000 in California and the other card someone bought high speed internet and subscription to a few adult websites.

PJH · Feb 1, 2017

"Do you check your bank statement?"

No, but my wife does. She grinds over them, mumbling to herself, and jabbing buttons on the calculator. It has to come out to the penny before she'll quit. When I see her getting the stuff out, I beat it for the shop.

We had a disagreement on a charge for an old internet service provider. She had a cancelled check showing we'd paid the bill, but they insisted we hadn't. It was only about $20 - I didn't think it was worth arguing over, but she's fierce about paying only once for any service. They finally turned it over to a collection agency, and some hard-nosed knot head called me one day. I told him that I sincerely hoped that it hadn't cost him too much so far, and the sooner he gave up the less he'd lose. He thought he was dealing with someone who didn't keep their records. I told him we got married in 1967, and she has EVERY cancelled check that we've ever written. Never heard from them again.

There'll be something happen that I don't even notice, and a few hours later I'll hear her say, "AHA!", and here she'll come waving a 25 year old cancelled check.

It's funny in a way, and then again, it's not. . .

Good luck with your credit card problem.

jimg.allentown · Feb 1, 2017

The "chips" on the new credit cards are a joke.
Here is a bit of reality concerning those chips.
The technology is at least 25 years old. It is used in several places other then credit cards that I know of.
I have a scanner for automotive computers. It uses "smart cards" to validate and unlock the software. Same identical chip on it. Scanner dates back to the late 1980s.
When I had satellite TV, my receiver had a "smart card" needed to activate and use the receiver. I first got satellite TV around 1998. Cable TV boxes use the same technology.
Last but not least. At state prisons in PA, visitors can purchase food from vending machines during visits in the visitor area. Since inmates are not allowed to possess currency, and visitors are not allowed to bring in currency, they use a card system to dispense food from the machines. First, you insert the card into a machine and then insert currency. The machine adds your deposit of currency to the value of the card. Then, when making purchases, each vending machine will deduct the amount of the purchase from your card.

My first point is that this is an old and common technology. My second point is that the technology exists to read and write these chips economically. My third point is that the bankers in their infinite "wisdom" (NOT) have succeeded in making credit cards even easier to duplicate and forge than they were before this great "breakthrough."

Do I sound a bit sarcastic?? Disgusted is a better word. Instead of making cards more secure, they have only made them more difficult to use and easier to duplicate.

Rant over.

Leroy · Feb 2, 2017

I get a email statement from my bank every day 365 days a year and check it every morning. And I use the bank card for just about everything and no chip. Most places have sines on their card readers that say no chip.

MarkB_MI · Feb 2, 2017

If you didn't enter a PIN, your transaction was handled basically the same as if you'd swiped the card. But whether or not you did, it's still possible to make a purchase by entering just the card number without swiping or using the chip. So my guess is that's how someone used your card: they somehow got the number itself.

I check all bank statements. I used to balance my checkbook, but with online checking that's mostly unnecessary.

JML755 · Feb 2, 2017

Wife reconciles our bank account monthly. Credit Card statements get looked over when they arrive. She flags any suspicious charges that she didn't make and asks me about them. Our cc's have been used fraudulently many times over the years. Never cost me a dime. Always got new cards within a day or two. Been awhile since the last one. Was able to trace a couple of them to a restaurant in Harrison Twp, MI and a Toys R'Us in Sterling Heights MI. Employees stealing the info. Told the store managers and never been back to those places.

Bret4207 · Feb 2, 2017

I check my stuff at least once a week. It's one bank account and one CC so it's not a lot of trouble. My debit card got hacked 10 years back or so by someone ordering art in Australia of all places! Got everything straightened out with no issue, but that stuff sticks with you.

dhermesc · Feb 2, 2017

I check our business accounts everyday, I check my personal account at least 2X or more a week.

KEB in GCMS · Feb 2, 2017

Check Bank account daily ,and credit card at least once a week. I also monitor my credit closely, due to having my SS number stolen.

OT Do you check your bank statement?

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