The closing balance alone does not explain what happened in an account. Reviewing a statement helps confirm that payments are correct, refunds have arrived and expected direct debits were collected only once. It can also reveal forgotten subscriptions or possible unauthorised use.
Gather comparable documents
Download the complete statement and collect receipts, invoices and supporting documents for the same period. Start with income and large payments; then review recurring charges, fees, cash withdrawals and small transactions. Mark each movement as recognised, pending review or unknown.
Bank descriptions may differ from the merchant name you remember. Check the date, amount and reference before concluding that fraud has occurred. Do not share credentials or security codes while investigating a charge.
Check refunds and duplicates
A refund may take time to arrive and may appear under a different description. Note the promised date and check the next statement. Look for duplicate charges, amounts that do not match the receipt and direct debits whose value changed without an explanation.
If you do not recognise a transaction, contact your bank or payment provider through its official channels and ask about the applicable procedure and deadlines. Keep screenshots, communications and documents. Cancelling or returning a direct debit does not always cancel the contract that led to it.
Complete the reconciliation
Link transactions to your categories and explain transfers so that you do not count them as spending. Compare the expected balance with the actual balance and record any outstanding differences. A monthly routine is enough for most households; review more often if you manage several accounts.
Kinset may process statements and group transactions, but any doubtful charge must be checked directly with the relevant institution. Always retain control over corrections.
This content is educational. Rights and deadlines depend on the type of transaction and the applicable regulations.