Perception is Everything
Online banking is the best thing to help me take better control of my accounts and track things rather frequently. I log in all the time, almost as if I’m paranoid. A part of me is a little paranoid.
Once a few years ago, I just happened to notice that every 4-6 days a charge of $9.48 appeared on my statement. The first time, I didn’t pay any attention to it. But then it kept appearing every few days. Then I did a little digging and realized it was a foreign company I had never heard of charging my account. Thankfully I checked. I took the proper steps and all my money was refunded to me. Over a period of 47 days, they hit my account 14 times. If you do the math, that’s $132.72. Just imagine the number of people who never check their account. For many who do check, they likely never report it. $9.48 charge every several days isn’t as noticeable as a lump sum charge of $132.72.
Consequently, I check very faithfully. Boy was I surprised to see a charge for what I thought was Bank of America Online. I never knew that America Online had a bank. I went through my accounts and realized several transactions and transaction types were hitting my account. “Fraud,” I was thinking out loud.
The funny part of this is, I interpreted it so incorrectly. They were all legitimate transactions for Bank of America online rather than my interpretation of it as “Bank of America Online. I overreacted. Yes, perception really is everything. The good thing is, my bank is good about investigating transactions when they really are fraudulent. I felt a little silly, all for about 30 seconds. I’m glad I always check my accounts regularly. I can only imagine the large amount of funds the crooks get merely because people are not diligent about monitoring their accounts.