This Habit Is as Important as Brushing Your Teeth

It takes less than 5 minutes.

Make this a daily habit:

Go online and check your bank accounts, all of them. This also includes your PayPal and other accounts like this. The bad guys can steal from your savings and PayPal accounts too.

This has become a habit for me. What prompted me to write this was that someone tried to hack our PayPal account. We caught it before they got the money.

You never know who is watching and who is using random number generators to see whether your accounts are valid.

Another Reminder Story

A bookkeeper notices two little deposits, less than $1 each, in the company operations account one day. He assumes that the owner had set up a new account with PayPal or someone else and forgot to tell him.

The thief was verifying that the account was active. When the two little deposits went through, he knew it was a valid account. The next day, he tried to withdraw $50,000 from their account.

The bank called to verify the withdrawals. They were not legitimate, and the account was shut down.

This is why you look at your bank account every day.

Make sure you know who all of the ACH withdrawals go to, as well as the deposits and checks.

You Never Know Who Is Stealing

A few years ago, I wrote about nuns who had embezzled from a Catholic school bank account. They used the money to go gambling in Las Vegas. Yes, nuns went gambling.

They did it by using an account that was not active for a long time but was still open. If someone had looked online at all of the school’s bank accounts, they would have seen the account they were using, and perhaps she would have been caught before they took a lot of money from the school. They were convicted recently.

Protect Your Cash

Cash is the lifeblood of your business. Protect yours.

Take a mere five minutes to go online and check your accounts, all of them. Make this a habit.

How financially fit is your business?

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