In this KnysnaPlett Herald article, Wikus Olivier from DebtSafe warns consumers to check their bank statements. He says the easiest way to notice any strange amounts going off your accounts, is to plan debit orders for more or less the same time each month.
Olivier warns that if scammers get hold of people’s money by taking less than R99 off someone’s bank account, a person will not get a notification on their smartphone for this amount.
Ways to keep your bank statements in check:
Construct your monthly budget with your bank statements next to you. It will give you good insight into what you are actually spending.
Make sure each and every debit order going off your account is accounted for. Take action against unauthorised debit orders.
Check the debit orders are in fact the correct amounts according to your credit agreement. Many consumers have expected a certain amount and found that they are paying more than they should.
Check bank fees while you are at it. Maybe it is time that you consider changing your type of bank account.
The type of bank account might not be the best fit for your finances.