Purpose of bank transaction verification

Bank inquiry is a form of account holder sending a request to the bank to check the transactions that have been made, including requests to adjust transaction information, cancel transactions, want to refund money when transferring by mistake and other requests.

The main purposes of transaction auditing include:

- Verify transaction validity: Check whether the transaction was actually made by the account owner.

- Detect and handle unusual transactions: Identify transactions that show signs of fraud, errors or are not intended by the account owner.

- Protect customer assets: Ensure that the funds in customer accounts are managed safely and accurately.

- Financial management support: Helps users track, control spending and plan personal finances effectively.

When to check?

There are a number of situations where you may need to perform a bank transaction audit, including:

- Transactions of unknown origin: When you see a transaction that you don't remember making or don't have a valid reason for.

- Incorrect transaction amount: When you see a transaction recorded with an incorrect amount compared to the actual amount.

- Double Transaction: When you see a transaction recorded multiple times.

- Not receiving money from a transfer transaction: When you transfer money but the recipient reports not receiving the money or vice versa.

- Unreasonable service fees: When you see fees being deducted incorrectly or for unknown reasons.

Bank transaction verification process

The bank transaction verification process usually includes the following steps:

- Check transaction details: Carefully review the information on your account statement, including date, time, amount, transaction content, and related fees.

- Contact the bank: If you detect any unusual or incorrect transactions, you should immediately contact the bank's customer service department to report the problem. You can contact the hotline, email or go directly to the bank branch.

- Provide necessary information: When contacting the bank, provide complete information about the transaction to be checked, including account number, transaction number, amount, time of transaction and any related documents.

- Transaction verification: The bank will conduct a check and verify the transaction information at your request. This process may include checking the system, confirming with the transaction partner or requesting additional information from you.

- Resolve and notify results: After completing the verification process, the bank will notify you of the results. If the transaction is incorrect, the bank will take corrective measures such as refunding, adjusting the account balance or providing additional support for related issues.

Meaning

Checking bank transactions brings many practical benefits to users, including:

- Asset protection: Ensure that the funds in your account are managed safely and accurately, avoiding fraudulent or erroneous transactions.

- Enhance financial security: Helps you detect and promptly handle unusual transactions, protect account information and personal assets.

- Effective spending management: Helps you track and control monthly spending, detect unreasonable fees and plan personal finances.

- Dispute Resolution: Provide evidence and legal support in case of disputes over financial transactions.

Cong Hieu (synthesis)

Source: https://vtcnews.vn/muc-dich-cua-viec-tra-soat-giao-dich-ngan-hang-ar908846.html