Video: Top tips on checking your bank statement
Video about reading a bank statement
Kristen: It's really important that we stay on
top of our money and one of the ways we can to do that is by
reading and checking our bank statements.
So let's start at the top of the page. A quick glance up here
and we can see the dates for the statement. This will generally be
for the previous month.
If you look at your statement you'll see a record of the money
coming in, this may be called a credit. This will include money
from your pay, any income you earn from government benefits and
pensions, and any interest.
Also have a look at your bank statement and you'll see a record
of the money going out. This might be cash withdrawals, eftpos or
direct debits. This may also be called a debit.
Next, take a look at the fees you may be paying. You could be
charged many fees including fees for ATM, eftpos or account keeping
fees, just to name a few. With so many different fees the cost of
running your account can really add up.
If you think your bank fees seem too high, contact your bank and
have a chat. They may be able to find a more suitable account for
you with lower fees or no account keeping fees at all.
Finally it's a good idea to keep an eye on your account balance.
That way you know what's happening with your money on a regular
So there you have it. Our top tips on how to check your bank
statement. Also, take a look at ASIC's MoneySmart website for more
tips and tools on how you can stay on top of your money.
Last updated: 09 Aug 2016