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Monday morning rush to check bank balances

Monday morning rush to check bank balances

Category: Banking

Updated: 28/02/2017
First Published: 30/09/2014

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

We've all been there. The weekend passes by in a blur of nights out, leisurely dinners, impromptu shopping trips and days out, but then suddenly it's Monday morning and the guilt sets in. As a result, instead of clicking open the emails at 9am, large numbers of consumers frantically log on to their banking apps to check out the damage.

According to consumer data from Nationwide, around one million customers log on to their bank accounts on a typical Monday, with a peak of 100,000 people checking in between 9am and 10am. This number gradually dwindles throughout the day (to about one-tenth of the number logging on first thing in the morning) with numbers slowly decreasing as the working week winds up and weekend spending beckons.

Phil Smith, Nationwide's head of current accounts, comments: "For many, the weekend is a time to forget about work and a chance to go out and enjoy themselves, but come Monday morning reality kicks back in… It's only natural we would want to check our balances before we get stuck into the daily grind."

Along with Monday mornings, the data also found that other popular (or high-anxiety) times to check the bank balance are at the beginning and end of each month, when people generally like to check that their salaries have gone in or that they have enough cash to last them until the long-awaited payday.


If you find that you are one of the people crossing your fingers as you check your statement after an expensive weekend, it may be time to re-think your budget and your spending habits.

Checking your statement on Monday morning is a good start, as it means that you are aware of your recent spending and can plan for the week ahead. This is definitely better than burying your head in the sand and hiding those receipts from Saturday's retail therapy. However, it may be a good idea to check your account even more regularly so that you become more aware of how much you spend on a daily basis. This way, checking your statement will never be a shock.

Try to keep all of your receipts and check them often. This will give you an idea of how much you are spending and where. That way, if you ever need to trim your spending, you will have a good idea of which treats you could easily cut out.

It is also a good idea to start your weekend with a budget in mind. Withdraw all the funds you need for your weekend fun and then try to stick to this amount without scampering off to the cash machine. Having your money in cash will help you to see how much you have left, which may help curb extra spending.

If you're worried you could dip into the red before payday, make sure you have an overdraft facility already set up at your bank. Going into an unauthorised overdraft can be expensive and put more strain on your finances. You can shop around for accounts that come with the lowest overdraft fees by checking out our best buy table.

Another way to avoid Monday morning anxiety attacks is to set up an emergency fund in an instant access account. That way, if you find your spending was a little too over-enthusiastic over the weekend, at least you know you have some extra funds to fall back upon. Check out our top 10 easy access accounts to find the right vehicle for your emergency funds.

What next?

Check out our top easy access savings accounts

Need an overdraft? Find the best deal in our best buy charts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.