Four Simple Ways to Clean Your Bank Account

February 26, 2020

Cleaning is an exhilarating task for some people. For others, anything related to organization and cleaning is a chore, no matter the season. 

When it comes to your bank account, a mid-year checkup offers everyone an opportunity to organize your financial life and put yourself—and your money—on the path to a brighter tomorrow.

Here are four easy ways you can clean your bank account:

1. See Where Your Money is Going

Review your monthly statements to see how money really flows in and out of your bank account. If you haven’t done this in a while, you may be surprised at what you find. Take a close look to make sure you’re considering all your expenses (pay attention to streaming service subscriptions and other recurring payments) and goals, like paying down debt, saving for college and retirement planning. 

If you find your morning lattes at the local cafe and subscription payments are really adding up, make a plan for this year—one that includes canceling unused subscriptions to limiting your overall spending. Creating an effective budget could help you keep more cash in your pocket and reach your financial goals.

2. Set Up Bill Pay

Ready to save time and money? Once you’ve enrolled in Online Banking, you can use Bill Pay to make online payments at no charge without writing checks, addressing envelopes, buying stamps or making trips to the post office.

  • Schedule automatic payments or reminders up to one year in advance.
  • Save and store payee details for future payments.
  • Reduce the risk of fraud, lost or stolen checks by sending electronic payments.
  • Create and review reports of all your past payments.

3. Check Your Credit

Good credit helps ensure you’re presented with your best possible lending options when it comes to large purchases and increased credit limits. Best of all, you can check your credit report at no charge. Each year, you’re entitled to one free credit report from Equifax, Experian and TransUnion, the three largest credit reporting agencies. 

Whether you decide to get your reports all at once or stagger them out (to receive one every four months) is up to you. Visit to take advantage of this opportunity and be sure to report any inaccuracies right away.

4. Set Up a Goal-Oriented Savings Account

Once you’ve completed the first three tasks on your to-do list, you’ll have a solid idea of how much money you have leftover after paying your monthly bills. It’s also the perfect opportunity to add savings into your gameplan. (If you’re already saving, great! Now’s your chance to do even more!) 

Savings goals are different for every person. From long-dreamed-about vacations and healthy college funds to paying down debt, the choice is yours. You can even move money from checking to your new savings account the day you get paid, so you won’t have time to miss it. 

Save for your future beginning today. It’s a plan you can take to the bank—today, tomorrow, and for your future.

Bill payments to payees who are not set up to receive electronic payments will be made with a check drawn on your account. Each check will have your account number and Renasant Bank’s routing number. The default starting check number will be 9000. Your cleared Bill Pay check images can be viewed after signing in to Online Banking.