Checking accounts can be complicated. Debit and ATM cards are so convenient, that sometimes it’s hard to keep track of how much money you really have. So, how do you do it? Well, there are two ways:
1. Traditional balancing Traditional balancing includes writing down every purchase, withdrawal, check and deposit into a transaction register. Writing down your transactions will allow you to keep a running balance of your account, so you will always know what you have. Then, when your monthly statement arrives, sit down and compare your register with your statement. This checks and balances system will reveal any transaction you might have forgotten to write down. It’s also a good idea to check and make sure all of the transactions on your statement belong to you. If you happen to find an error, contact your financial institution.
Electronic balancing In the age of computers, many people turn to the internet to keep them in balance. Checking your account regularly via Online Banking will show every transaction made in your account and your current balance. Alerts keep you informed of what’s going on without even logging in. You can set up an alert to be sent to your email or as a text message. For more information on these electronic balancing options, visit the information box below.
Failing to keep good records and regularly monitoring your account can cost you. For example: if you wrote a check for more money than you have in your account, you could end up paying $29 in non sufficient funds (NSF) fees. Although mistakes do happen, it’s important topay attention to your account to minimize unwelcome fees.
See the box below to learn about the simple, FREE ways SCCU helps keep you in balance and avoid fees.
Never Be Short Again!
Use these FREE online services to help you stay balanced:
Online Banking - This free service allows you secure access to your account anytime you need it. Within Online Banking, you can view your balances and transactions, transfer funds, pay loans, pay bills, and send checks to individuals.
Online Banking Alerts - This feature lets you set up alerts based on your preferences. Alerts can be sent via email or text message to let you know your balance, or when a specific transaction occurs in your account. Our most popular is Daily Balance Alert. This alert will notify you each morning of the balance for any account you choose. With this alert, you’ll always know the balance of your savings, checking or even your credit card!
Overdraft Protection - Automatic Overdraft Transfer helps you avoid non sufficient funds (NSF) charges by automatically transferring money from a specified SCCU account in the event you overdraft. You can use the associated share savings account as the primary overdraft source, however, additional sources can be used if you desire, including your SCCU Visa® Credit Card!
Bill Payer - Through SCCU’s free Bill Payer, you can pay business OR individuals you would normally pay by check and track everything online. You can make one-time, recurring, or schedule future payments!
If you have questions about any of the above services, stop by your local branch or call our Member Service Center.
Checking accounts can be complicated. Debit and ATM cards are so convenient, that sometimes it’s hard to keep track of how much money you really have. So, how do you do it? Well, there are two ways:
