QuestionAugust 17, 2025

Why is it important to review your checking account statement? What fees might this help you avoid? Explain your answer. square

Why is it important to review your checking account statement? What fees might this help you avoid? Explain your answer. square
Why is it important to review your checking account statement? What fees might this help you avoid? Explain your answer.
square

Solution
3.4(428 votes)

Answer

Reviewing your checking account statement is important to identify errors, monitor fees like overdraft and ATM fees, and manage your budget effectively. Explanation 1. Identify Errors Reviewing your checking account statement helps identify any errors or unauthorized transactions, ensuring accuracy in your account balance. 2. Monitor Fees It allows you to monitor fees such as overdraft charges, ATM fees, and maintenance fees, helping you avoid unnecessary costs. 3. Budget Management Regular review aids in managing your budget by tracking spending habits and adjusting accordingly.

Explanation

1. Identify Errors<br /> Reviewing your checking account statement helps identify any errors or unauthorized transactions, ensuring accuracy in your account balance.<br />2. Monitor Fees<br /> It allows you to monitor fees such as overdraft charges, ATM fees, and maintenance fees, helping you avoid unnecessary costs.<br />3. Budget Management<br /> Regular review aids in managing your budget by tracking spending habits and adjusting accordingly.
Click to rate:

Similar Questions