Mobile money is a popular and convenient way to manage finances, but it’s important to regularly review your statements to avoid hidden fees.

Key Sections to Review:
• Account Information: Includes your name, mobile money number, and statement period.
• Balance Summary: Shows your starting balance, total deposits, withdrawals, and ending balance.
• Transaction List: A detailed list of all mobile money activities, including transfers, purchases, and bills paid.
• Fees and Charges: Look for transaction fees, service charges, and any hidden fees.

How to Spot Hidden Fees:
• Transaction Fees: Mobile money services often charge a small fee for sending or receiving money. Check for fees attached to each transaction.
• Withdrawal Fees: Withdrawing funds from agents or ATM machines can incur additional fees. Be sure to review these charges in your statement.
• Payment Fees: Sometimes, paying for goods or services via mobile money can incur fees. Watch for charges like "payment service fee."
• Service Charges: Some mobile money services charge a monthly service fee or inactivity fee if your account is dormant for too long.

Verify Transactions:
• Unfamiliar Transactions: Ensure every transaction is recognized, especially if you didn't make it or if the amount is incorrect.
• Double Charges: Be on the lookout for duplicate transactions or overcharges and contact customer support immediately if noticed.

Monitor Your Mobile Money Statements Regularly

Set a reminder to review your mobile money statements regularly. This will help you track your spending, avoid unnecessary charges, and keep your finances in check. Stay in control of your mobile money account and spot hidden fees before they become a problem! 💡#CedisPay #MobileMoney #BankingTips #PersonalFinance #HiddenFees #SmartMoney #FinancialManagement