Board of Governors of the Federal Reserve System

Consumers need to keep five tips in mind for managing their checking accounts and safeguarding their funds from unauthorized transfers by criminals, according to a new Federal Reserve Board publication.

Criminals may use a consumer's account information to create a demand draft (sometimes called a "remotely created check") drawn on the consumer's account, or to make an electronic transfer from the consumer's account.

The publication, available on the Board's website, offers consumers advice on how to protect and manage their accounts:

• Don't give your account number and bank routing information to anyone you don't know.
• Review your monthly statement.
• Notify your bank about any problems as soon as possible.
• If you don't have enough money in your account, don't write the check or authorize the debit.
• Know your rights under consumer protection laws.

This information is available on the Board's website at http://www.federalreserve.gov/pubs/checkingaccount/default.htm. A PDF (Portable Document Format) version is provided on the website so that consumer groups, financial institutions, and retailers can download and print copies for distribution to their clients and customers.

Print copies of the publication are also available from Publications Services, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, DC 20551.