Why we check on our bank every day

Cookie_Monster

http://www.independent.ie/business/personal-finance/surviving-the-recession/why-we-check-on-our-bank-every-day-3259662.html

CASH-strapped consumers are checking their bank accounts once a day by computer, in what experts say is a sign we're watching every cent.

A survey seen by the Irish Independent shows that almost one-quarter of us look at our accounts on a computer or a smartphone at least once a day.

story is dressed up as news but what surprises me is people (or at least the paper) think this is somehow unusual. why wouldn't you check your bank every day since it's become so easy. while I might not check it every day, I do at least 5 out of 7 and catagorise all my income and expenditure on my useful banking app.

Frankly it worries me that <25% check it daily (read frequently), why wouldn't you keep a close track on your finances.

So, how often do you check yours?

Xavi6

Internet banking is still a relatively new phenomenon, at least for older people, so I'm not too surprised by the figures. I think with banks moving away from the 'personal touch' in branches, the numbers using online banking regularly to make sure the system hasn't fecked up will rise. Cynicism basically.

Personally I never looked at my accounts until I started working in a bank and knew what it all meant. Now I check about five times a day! Banking knowledge / education, or lack of, could play a part in it.

golden lane

Cookie_Monster wrote: »

http://www.independent.ie/business/personal-finance/surviving-the-recession/why-we-check-on-our-bank-every-day-3259662.html



story is dressed up as news but what surprises me is people (or at least the paper) think this is somehow unusual. why wouldn't you check your bank every day since it's become so easy. while I might not check it every day, I do at least 5 out of 7 and catagorise all my income and expenditure on my useful banking app.

Frankly it worries me that <25% check it daily (read frequently), why wouldn't you keep a close track on your finances.

So, how often do you check yours?

if you are not aware of what you are spending each day.........you could have a financial problem.........yes, it is you that spends...

reeb

Some people have enough money that they dont have to check their bank account daily...

Condatis

I don't need to check mine – the Bank Manager does it – he then phones me and tells me how I stand.

inforfun

I check it most of the days but only because i have had the pleasure of being a victim of credit card fraud twice in the past.
Otherwise i would only login when i need to transfer money.

Zulu

Honestly: once a month.

Squ

I used to check about once a week, but since boi released their phone app, it's more like 5 times a week.

matrim

I normally only check about once a week. Maybe a couple more times if I'm expecting a Direct Debit to go out or my paycheck to come in that week.

I don't see the need to check it more often. I only go to the ATM about every 4 or 5 days so if I check it after that there's normally no need to check my account again until I expect something to happen

BrensBenz

As a non-national in the UK, with no utilities bills, there was only one (off-shore) UK bank which would allow me an account and was acceptable to my employer. Every possible aspect of setting up that account was botched. It took 53 days, 19 emails and 8 phone calls to open the account. I check my account EVERY day so that any errors by this shower of cretins are spotted immediately.
I have no reason to believe that Irish banks are less prone to error or more willing to admit to and rectify their error so I think vigilance is essential, especially since it's MY money!

Huggles

Normally - once a day but lately its a few times a day - checking what clients have paid etc as I get closer to return deadline!

seamus

The link is there, so I click it every now and again. Probably 3-4 times a week, depending. Sometimes it's just because I've forgotten how much I have, other times it's because I'm checking that a payment has gone in or out, or transferring cash to a credit card after buying something online.

Every day is probably a bit unnecessary unless you rely on cashless transactions a lot. I would usually take out a wad of cash at some point in the weekend and most of my spend Monday-Friday is cash on small things like lunch. So my account balance doesn't change much during the week.

homer911

I'm with NIB and have free SMS alerts set up to notify me of debits over a certain value and credits over a different value. Depending on when the entries are actioned, I can get messages at 7:15, 13:00 or 18:00 each day

One of the reasons I decided to stay with them despite the new bank charges (the SMS alerts are still free)

Walker34

I avoid checking every day because there always seems to be login problems which usually require a phone call anyway. Today I did not get past my customer number which returned an error 4 times even though the number was correct. The assistant had to reset my login account (whatever that means) and I was able to login.

I have heard varying stories about problems with the IT department in one bank which outsourced its IT department to India without adequate hand-over preparations being made. The story goes that when the fertilizer hit the fan they had to rehire some of the staff on a consultancy basis to try to prevent total catastrophe.

handlemaster

RBS did outsource some of their IT to India. But I think the issue arose in their Edinburgh office.

Walker34

handlemaster wrote: »

RBS did outsource some of their IT to India. But I think the issue arose in their Edinburgh office.

It depends on which issue yer talking about, as there now seems to be continuous issues. The "Big issue"..... the one we are not to mention is the one I heard about, and involved poorly executed outsourcing.

handlemaster

Walker34 wrote: »

It depends on which issue yer talking about, as there now seems to be continuous issues. The "Big issue"..... the one we are not to mention is the one I heard about, and involved poorly executed outsourcing.

thats the one. Originated in scotland. What issue is concerning you ?

BrensBenz

Although not the fault of the bank, I found another error in my bank statement a few days ago. Overcharged £22.50 stg. by a supermarket.
I've also found petrol stations "double charging" for one transaction. Since I usually fill up from fumes, a double charge for petrol is very expensive. Checking my bank statement frequently gives me less opportunity to dump the receipts I might need as ammo.