How to Check Unknown Bank Transactions and Protect Your Account

Checking unknown bank transactions can be a stressful experience, but being proactive can help protect your account. Review your bank statement regularly to catch any suspicious activity.

Start by checking your bank's mobile app or online portal for any transactions you don't recognize. Most banks allow you to filter transactions by date, amount, or type.

If you find an unknown transaction, don't panic. Contact your bank's customer service immediately to report the issue.

Your bank will likely ask for your account information and a description of the suspicious transaction. Be prepared to provide this information to help them investigate.

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You can check your account online or through the bank's mobile app to verify the unknown transaction.

Make sure you have the correct login credentials to access your account securely.

Go to the bank's website or open the mobile app and log in with your username and password.

Click on the "Transaction History" or "Account Activity" tab to view a list of recent transactions.

Sort the transactions by date or amount to easily locate the unknown transaction.

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If you're unsure about a transaction on your bank statement, start by checking the business name. It's common for online services to have different names on your statement than you expect.

You can use a search engine to look up the name that shows on your transaction. This can help you identify if it's connected to a business you recognize. For example, if you see "118118 Beauty" on your statement, it could be a beauty club subscription service.

If you're still unsure, you can check if the company has changed its name. For instance, "121money.com" might be a credit broker that now trades as SupaLoans.

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Compare your receipts carefully to ensure you're not missing any important details. This simple step can save you a lot of hassle in the long run.

Some business names might look different on your statement to the one you expect, especially with online services. Use a search engine to look up the name that shows on your transaction and see if it's connected to a business you recognise.

You might not always recognise a transaction on your statement as businesses sometimes trade under a different name. By using the Look Who's Charging feature, you'll get more details like the trading name and logo, a map of the transaction location, and an address, phone number, and website if available.

Here are some examples of unrecognised transactions and what they might be:

Cross-referencing your receipts with your account statement can help you identify any discrepancies. Make sure to double-check the price and account numbers to avoid any confusion.

If you didn't authorize a purchase, you have zero liability for those purchases, no matter what bank it is or what state you're in. That's federal law.

Always send back the affidavit via certified mail with return receipt requested to avoid getting in trouble.

You can usually keep your bank account if all they did was take your debit card number. The bank will know if the purchases came from a debit card or drafted from the bank account number and routing number.

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Immediately file a fraud alert with all three credit reporting agencies: Equifax, Transunion, and Experian. This will alert anyone who runs your credit that they need to verify your identity before loaning you money or doing any kind of financial transaction using your social security number.

Call the bank as soon as possible to report unauthorized transactions. The quicker you report, the less suspicious the bank is that it was actually you who made the purchases.

Speak with the bank's fraud division to report unauthorized purchases. Make sure you write down all the purchases that are unauthorized and the amounts, as they'll ask you to name all of those charges to be reversed.

Here's a list of steps to take when reporting unauthorized purchases: