Britons urged to check balances
By myfinances.co.uk staff
Britons have been urged to regularly review their bank accounts to ensure they are getting the best deal and that they are protected against fraud.
The advice comes after a poll by the Co-operative Bank revealed that only a third of people are certain of how much money is in their current account.
Another five per cent admitted to never checking their bank statements.
James Daley, editor of Which? Money, said that reviewing an account balance can help to protect consumers against fraud, as it will flag up any unusual transactions before they are pushed over their limit, which could incur charges.
"Just get in a regular habit of checking your bank balance online once a week or every couple of weeks and opening those statements, even though you might not want to," he said.
Mr Daley added that staying on top of an account will give bank customers a better idea of how their provider's overdraft arrangements and fees stack up against other products, which could help them to find a better deal for their money.
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