Answer:
It is important to review your bank account statement as it contains crucial financial information that can be useful for reconciling your books. Additionally,it offer timely alerts on potentially fraudulent activities and can help you avoid some banking charges.
Explanation:
Regularly reviewing your bank statement can aid you in avoiding some banking fees such as:
1. Minimum balance charges.Some accounts require a minimum balance at any given time.Failure to maintain the minimum balance which vary from bank to bank will attract a fee.
2.Overdraft charges.An individual can incur overdraft charges when you spend more money than is actually available in your bank account.
3.Returned deposit charge.This is the fee that one incurs when for a bounced cheque.
