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Read your statement

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Why you can trust SCMP
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Every month, the bank will send you a statement. With this document, you can check how much you have (the balance) and all the details of the transactions you have done over the past month, whether they were payments you made or received.

Always check there is no mistake or missing transactions. Be clever with your money: follow the transactions you do on a personal finance software and then check your bank statement with your list. This is a very efficient way to detect potential errors.

Debit: in this column, you can see all the amounts you have withdrawn from your account

Credit: in this column, you can see the amounts that have been added to your account

Deposit: the money you have added to your account (cheques, for example)

Direct debit or autopay: you authorise the bank to pay some bills (like rent and electricity).

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