Two key reasons why it is important to check bank statements regularly are:
- To catch errors and detect unauthorized or fraudulent transactions. Bank errors, double charges, or fraud can occur, and regularly reviewing statements helps identify and report these within the dispute window to recover funds and avoid losses. This vigilance also protects against identity theft and financial fraud.
- To monitor and manage spending habits. Checking statements gives insight into how money is being spent, helping to control expenses, avoid overspending, and align spending with financial goals. It also helps in budgeting and maintaining financial health.
These reasons emphasize financial security and better money management through regular statement reviews.
