Wednesday, October 18, 2006

Busted! Why you should check your Bank Statements, promptly

This past week I was getting ready for the year end madness with my taxes by reviewing my business checking account and figuring out what was deductible and so forth. The bad news, I discovered was that last winter in Janaury, I went out to eat at a bar in Boston. However, the amount that the bar charged me seems too high. Given that the account did not have much activity on it for several months during this time of year, I got lazy and wasn't keeping track of it.

Figuring out if there was an error should be easy, I thought. I will check with my bank and try to get a receipt. Well, it turns out that any charges on my bank statement must be disputed or questioned within 60 days or there is nothing that can be done. So, the nice customer service rep at my local branch explained the situation to me and now I believe I might be out 40 bucks. Again, not the end of the world, and I've learned one valuable lesson about keeping up on my account statements. At 40 dollars, maybe that is getting off cheap.

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