Have you ever used the phone to:

• Check your account balances?
• Check how much you owe on your credit card?
• Pay bills?
• Transfer money from one account to another?

You can do all this and more.

You can get a range of automated services through a toll-free number. You use a keypad to enter your choices. You will have to set up a password to use your account.

Many brokerage firms let you buy and sell investments over the phone. You speak to an individual, but you may still need a password to access this service.

• Do not let anyone see the account number and password that you enter on the keypad.
• Be careful if you keep a record of your account number and password in your wallet or purse. Think of some kind of code to disguise what they are. For example, write it down as a phone number or as part of an address. Then, if your wallet or purse is stolen, the thief will not know how to get into your bank account.
• You won’t get a printed record of what you paid, so take notes. If you are given a confirmation number on the phone, write it down and keep it with your banking papers.
• Check your statements each month against the notes you made. Make sure all of the transactions on your statement are correct.

Remember: A phone is one of the easiest ways to do your banking and investing.

You can often get to a phone when you can’t get to a branch or online. Just be sure to play it safe.

Learn more

Read about the top 10 investment scams (PDF), as rated by the North American Securities Administrators Association.