The money placed in your bank account is called a deposit because you retain ownership of the funds even though it is within the custody of your chosen financial institution. As such, it is imperative on your part to take the necessary precautionary measures to safeguard your money the moment you deposit it in your account. Keep in mind that once it is successfully deposited, the bank will now have custody over it. If you want to use the money, there is a need for you to send a withdrawal slip before the funds are released.
Unfortunately, there are instances when third parties may compromise the funds in your account. Some of these events may be caused by the negligence of the personnel of the bank where you left the money. However, a recent study shows that the majority of it takes places because of the failure of the bank depositor to exercise the right degree of care. If you want to avoid the similar thing from happening to you, then make sure to read this article from start to finish. You need to tell or remind yourself of the proper steps to take:
Avoid Pre-Signed Slips
As already mentioned above, there is a requirement of submitting a withdrawal slip before the bank teller will process your request to get money from your funds. Some businessmen make it a habit of signing these slips ahead of time so that the cashier or finance personnel of the company will not use them for personal gains when the time for withdrawal arrives. While the cause may be great, the means to achieve it is not ideal. Having pre-signed slips increases the possibility of a breach in your account. Other people may be tempted to fill in the information needed on the pre-signed slip, and then the account will then be compromised.
Do Not Reveal Your Bank Details
As much as possible, avoid submitting your bank details in different forms especially if you have no idea about the purpose for the disclosure. Remember that there are other people out there whose primary goal is to scam or defraud bank depositors like you. If you provide them with the bank information, then they can facilitate the deceitful act easily. Never take phone calls from people who claim that they are from your bank or that a financial institution has referred them. The only exception to this rule is when you are one hundred percent sure that the other person on the line is a legitimate representative of the company that he is referring to.
Keep Your Codes Safely
Be smart enough to choose codes that are not easy to guess. If you have an ATM account, make sure that you will not use the numerical representation of your birthday or the date of your wedding anniversary as a pin code. Keep in mind that deceitful individuals can guess this kind of pin easily. If you have created an account or has signed up for an online banking feature, be sure to keep the login details all to yourself. Do not give it to your secretary or assistant to ensure that there will be no unauthorized access. Remember that people can be easily tempted when it comes to money talks or finance-related matters. Always prioritize your safety at all times.
Saving up for money is fun and exciting as long as you know how to do it the right way. Do not forget the suggestions that we mentioned above so that you will not have a hard time growing your funds in your bank account. Choose to be smart and wise at all times.