Writing checks this holiday season? If so, keep your eyes on your bank account. Businesses and charities can convert your paper check into an electric document. This means they don't have to wait as long to get their money, and you should expect money to leave your account more quickly.
In addition to reducing "float" time, your checking account may be exposed to risk. An irresponsible business may toss your checks in the trash once the process them, or your payment could get processed twice - by accident or on purpose.
What should you do? Keep an eye on your accounts. Log in periodically to check for any signs of trouble. Even better, quit exposing your bank account to the world. Having your accounts depleted due to an error or a thief can cause huge headaches. Consider using a credit card for purchases (or even your debit card - but have it processed as a "credit" transaction).
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