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Keeping Track of Your Finances

The average person makes hundreds of purchases each year. Unfortunately, the average person may also unintentionally overdraft their account from time to time. Almost always, such overdrafts are the result of losing track of how much money is in your checking account.

It’s much easier to keep track of your financial affairs if you check your account balance in Online Banking on a regular basis. Reconciling your checkbook register with your online account activity is a good habit to begin. Not only will it help you avoid overdrafts, it will give you a better feel for your finances and help you monitor for any incorrect or fraudulent charges on your account.

Benefits of Tracking Your Bank Account Balances Online

  • Manage your accounts 24/7
  • View up-to-date account activity, including debit card payments and checks
  • View pending payments
  • View images of cleared checks
  • Set up and track payments online with Online Bill Pay
  • Use Reconcilements to record checks and debit card transactions that have not cleared your account yet
  • Transfer money from your savings account to your checking account to prevent overdrafts

You can also check your Dollar Bank account balances with the Dollar Bank App and Text Message Banking! Find out more about our account management options.  

Follow These Easy Steps to Keep Your Checkbook Balanced

  1. Record all transactions as they occur. This includes checks, deposits, ATM withdrawals, telephone transfers or payments, debit card purchases, pre-authorized automatic payments, direct deposits and any other transactions that affect your account balance. Keep your receipts from transactions you perform at your branch office or at an ATM machine.
  2. Sign into your Online Banking account frequently to compare the transactions that appear on it to those recorded in your register.
  3. If your online account balance and your checkbook account balance do not match, check for these common mistakes: 

    -  Look to see if you have any outstanding checks from two months ago.
    -  Be sure that you carried forward the correct balance when you began a new page in your checkbook register.
    -  If you can divide the difference between your online account and your checkbook register evenly by two, you may have added when you should have subtracted.
    -  If you can divide the difference between your online account and your checkbook register evenly by nine, you probably transposed numerals when you made an entry (i.e., $53 instead of $35). Check the figures in your checkbook register against those on your statement.

If the numbers still don’t add up, go back over your work one more time. Did you forget to list an outstanding check? Did you miss an interest payment or service charge on the statement? Try to balance again - and if you still can’t, we’re here to help. Call 1-800-242-BANK or stop by your local Dollar Bank office

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