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Balancing your checkbook.
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How to balance by phone:
- URL to type in: http://www.ezbal.com?a=123&m=-21.46
- Explanation: a=123, this is your account number you have chosen
- Explanation: m=-21.46, this is what you have used from your bank account. A minus in front means you have used money. If you deposited money into your account, you need to add it
- Explanation: m=1500, this means you have deposited money either from a pay check or something else.
- OR even better and faster...
- Send a text message to your EZ Balance email account using your account number and dollar spent or deposited (Example: zxxx 56.79 where zxxx is your account). You will get an instant text message back with your balance.
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Why balance?
Balancing your checkbook is a method of verifying that your records (your checkbook register) match the bank's records, as shown on your monthly bank statement. This will always be an important task, although the method of accomplishing it is changing in the electronic age.
Although your bank processes thousands of transactions accurately, it can make mistakes, and you typically have only 60 days in which to inform the bank of the error. If you don't balance your checkbook monthly, you might not even find the error in 60 days. Even more likely is the possibility that you made a math error in your checkbook register, which you're unlikely to find unless you balance your checkbook each month.
If you make a mistake or forget to post an ATM withdrawal, debit card purchase, or other transaction in your checkbook register, you may start bouncing checks and incurring fees, which are often $25 or more for each returned check. If you don't correct the problem quickly, you can often incur a number of returned check fees or more than one fee for the same check if the person the check was written to re-deposits it right away in the hopes that your balance will now cover the sum.
If there is a problem at some point, it's much more difficult to wade through months of transactions to figure it out. If you've balanced your checkbook every month, the most you'll ever have to do is look at the most recent month's transactions. Sometimes people make such a mess of their checkbook by not balancing regularly that they have to close out their account and open another one.
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