Page 7 - TR RVO Extra 2020

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SUNDAY, SEPTEMBER 20, 2020 7SS

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MONEY
There are many mobile-payment applications available for smartphones, but people should still pay attention to their banking accounts to avoid overdrafts and to monitor the accounts for fraud.
How to
monitor
your money
when relying on cashless spending
Cashless spending has long been a convenient way to make purchases, and that convenience became even more evident in 2020. The outbreak of COVID-19 in the winter of 2019-20 forced people around the globe to change how they live, and those changes affected how people pay for items.
According to the Centers for Disease Control and Prevention, touching or handling certain items, including cash, could expose people to the COVID-19 virus. That led many people to rely more heavily on cashless payments, including traditional options such as credit or debit cards and relatively new cashless options, including apps such as Venmo. While these options can be convenient, cashless payments can make it more difficult
for people unaccustomed to making purchases without cash to monitor their spending.
“It’s so important for everyone to monitor their bank accounts frequently to not only stay up to date on their current balances to avoid overdrafting, but also to help prevent fraud on their accounts,” said Blake Guinn, vice president of retail banking/marketing for First National Bank in Jonesboro. “In the days of online banking, you can easily check your balance and transactions multiple times a day. Doing so might detect any suspicious charges and can stop fraud attempts before they get started.”
The following are some tips to make
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