How to Check All Your Bank Charges

Knowledge is power when it comes to your money. If you don’t know what you’re being charged for, you can’t fight back. Here’s how to track every deduction on your account…

You can be wondering where my money is going and still be in the dark if don’t until you start checking your bank charges.

Small deductions here and there can add up to a significant amount over time, and if you’re not paying attention, you might be losing money without even realizing it.

Let me show you exactly how to check all your bank charges so you can stay on top of your finances.

Why you should check your bank charges regularly

Checking your bank charges regularly helps you:

• Identify unauthorized or incorrect charges
• Understand where your money is going
• Spot patterns in your spending and fees
• Make informed decisions about which bank or account type to use

When I started reviewing my charges monthly, I discovered I was paying for services I didn’t even use. That’s when I made changes to save money.

Method 1: Check your bank statement

Your bank statement is the most comprehensive record of all your transactions and charges.

Here’s how to access and review it:

1. Log in to your bank’s mobile app or internet banking platform.
2. Navigate to the ‘Statements’ or ‘Transaction History’ section.
3. Select the period you want to review (I usually check the last 30 days).
4. Download or view your statement.

Once you have your statement, look for entries labeled:

• SMS Alert Fee
• Stamp Duty
• Card Maintenance Fee
• USSD Charge
• ATM Withdrawal Fee
• Monthly Maintenance Fee

These descriptions will help you understand what each charge is for.

Method 2: Use your bank’s mobile app

Most Nigerian banks now have mobile apps that make it easy to check your charges in real time.

1. Open your bank’s mobile app.
2. Go to ‘Transactions’ or ‘Activity.’
3. Review recent debits and look for charges like SMS fees, stamp duty, or maintenance fees.

Some apps even categorize charges for you, making it easier to see where your money is going.

I check my app every few days just to stay aware of any new charges.

Method 3: Request a detailed statement from your bank

If you want a more detailed breakdown of your charges, you can request a statement directly from your bank.

1. Visit your bank branch and ask for a detailed statement.
2. Call customer service and request they email you a statement.
3. Use your bank’s online chat feature to request a statement.

Some banks charge a small fee for printed statements, so I recommend requesting an electronic copy to save money.

Method 4: Use USSD codes to check recent transactions

You can also use your bank’s USSD code to check recent transactions, although this method is less detailed.

Dial your bank’s USSD code (e.g., *737# for GTBank) and follow the prompts to view recent transactions.

This will show you the last few transactions, including any charges.

Keep in mind that using USSD codes may incur a small charge, so use this method sparingly.

Common bank charges to look out for

Here are the most common charges you’ll see on your statement:

• SMS Alert Fees: Usually ₦4 per SMS, totaling around ₦50 per month.
• Stamp Duty: ₦50 on deposits or transfers of ₦10,000 or more.
• Card Maintenance Fee: Ranges from ₦50 to ₦1,000 per year, depending on your card type.
• ATM Withdrawal Fees: Charged when you withdraw from other banks’ ATMs (usually ₦35 per transaction after your first three free withdrawals).
• USSD Charges: ₦6.98 per session for balance inquiries or transfers.
• Monthly Maintenance Fees: Can range from ₦50 to ₦1,000 per month, depending on your account type.

Understanding these charges helps you budget better and avoid surprises.

How to organize your bank charges

To make tracking easier, I recommend creating a simple spreadsheet to log your charges.

Here’s how I do it:

1. Create columns for Date, Charge Type, Amount, and Notes.
2. Every month, review your statement and add each charge to the spreadsheet.
3. At the end of the year, you’ll have a clear picture of how much you’ve paid in bank fees.

This method helped me realize I was spending over ₦5,000 annually on bank charges, which motivated me to make changes.

What to do if you find an unfamiliar charge

If you see a charge you don’t recognize, don’t panic.

Here’s what to do:

1. Check the charge description carefully. Sometimes the wording can be confusing.
2. Call your bank’s customer service and ask them to explain the charge.
3. If it’s an error, request a reversal immediately.

I once found a double charge on my account. After calling the bank, they confirmed it was a mistake and reversed it within 48 hours.

Final thoughts

Checking your bank charges regularly is one of the smartest financial habits you can develop.

Use your bank statement, mobile app, or USSD codes to stay informed about where your money is going.

By understanding your charges, you can make better decisions about your banking and save money in the long run.

Don’t let small charges slip by unnoticed. Every naira matters.