How To Resolve Discrepancies with Your Bank Account
When you balance your checkbook you may discover that you have a large discrepancy. You may be missing money or you may discover that you have extra money. The bank may have made a deposit to the wrong account, and it is important to address the problem quickly. You may also find that you have withdrawals that have not been authorized, and it is important to address those issues as well. You can also put a stop payment on a check that has been stolen. You need to handle these matters as quickly as you can and in a professional manner.
Find Information to Support Your Claim
First, you should gather the information that will support your claim. If you are missing a deposit, you should find your receipt for it. It is a good idea to hold onto the receipt until your deposit is posted online. If you are questioning specific transactions, you should highlight them on your statement. Often you can go online and find out more about the transaction, as well. When you have this information ready, it is much easier for the customer service representative help you. The receipts and transaction identification numbers can also give the bank the information it needs to start researching the issue.
Contact the Bank
Address these matters in person if possible. You can call a customer service line, but generally speaking people at the branch are more willing to work with you. When you speak to the person at the bank you need to be very calm. The customer service agents and account representatives are there to help you resolve any problems. However, if you come in very upset, they are not as likely to go out of their way to help resolve your concerns and questions.
Be Patient When Talking to The Bank
Remember to be patient. If there is a missing deposit or an unauthorized transaction, it may take the bank awhile to track it down. Your initial meeting may simply start the research to resolve the problem. The bank will have to go back through and see the teller’s transactions for the day and then determine what went wrong. If you made a deposit at the ATM, then the ATM records will need to be accessed and analyzed. The person you are talking to did not make the mistake, and people are generally more willing to help if you refrain from losing your temper when dealing with customer service.
Some banks will allow representatives to waive the fee if it is the first time something has happened, but this is less likely to happen if you are rude.
Follow Up with the Bank
Follow up with any paperwork or other steps that need to be taken. If you have unauthorized transactions, you may need to file a police report before the bank will do anything. Additionally, you should close the account to prevent any future occurrences of this happening. If you do this be sure to change all of your automatic transfers and payment options, as well as your direct deposit.
Additional Things to Consider
Balance Your Statement Regularly
Be sure that you balance your account to your statement regularly. This helps you to track mistakes and find the errors much quicker. Many banks allow you to download the information straight into your money management software and it does it automatically for you. There really is no reason not to do it.
Keep a Running Total of What Is In Your Account
Additionally, you should keep a running total of your account. Never go off of the balance that you receive at the ATM or on a deposit slip. It does not including outstanding debit card transaction and checks. If you just assume that you have money you will likely overdraw your account.
Consider Switching Banks
If your bank continues to have discrepancies and problems, then remember you are not trapped at your bank. You can switch banks and find a bank that does not have any problems.Before you do this, though, you need to make sure that the bank is really the one consistently making mistakes. If you fail to monitor your account closely, it may be a mistake that you have made. Additionally, consider the fees that you are paying. This may be enough to consider switching to a new bank.