It's important to be aware of all the aspects of your personal banking account. Follow simple safeguards and avoid common mistakes, and you'll be on the right path towards better banking.

1. Review your bank statements, and you may catch errors or unwanted charges on your credit card. Especially with the potential for identity theft, you should always be aware of what is going on in your account.

2. Don't pay avoidable fees and bank charges. Shop around for the best rates you can find, and you could save thousands of dollars over the life of your account.

3. Keep track of old bank documents, and don't leave them lying around. An open bank statement in the back of your car with all your information exposed, lends itself to an identity thief. Also, shred or tear up old documents before throwing them out.

4. Public internet access is becoming more common, like WiFi at your local coffee shop. But these networks may not be as secure as your home network, often exposing data transferred between the coffee shop internet connection and your laptop. Save the online internet banking for home.

5. Never use obvious passwords to protect your personal bank account. Birthdays are used all too often, and change your password regularly. Remember your password, never write it down. Your own head is the safest place for it.

6. ATMs are great for getting cash fast, but like a password, never write down your pin number. Always look around to make sure it is safe to withdraw money, and use your body to shield inputting your pin number.

7. Sign or endorse checks at the bank. If you ever lose your check and it's already signed, somebody could potentially steal your money.

8. Keep all bank documents safe, never leave them lying around. A locked filing cabinet or safe works well.

9. If you ever need a loan or mortgage, shop around. You don't need to stick with your bank if you can find a better deal somewhere else.

10. Get to know the staff at your bank. They should be friendly and available to answer any questions you might have. Establish a good relationship with them; after all, they are holding your money.

Copyright © 2006

Sterling State Bank in Minnesota provides personal banking, business banking, loans, insurance packages, and investment options to meet all your financial needs.

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