Hidden cost of not checking one's bank statement.

This is a warning to anyone that doesn't check their bank statement.

On reviewing my bank statement I found a debit item on my bank account I didn't recognise.

Turns out it was for an insurance policy to cover an iPhone I bought on contract from MTN Cresta in 2013. I traced it to an insurance company - Monitor 24. Pinnacle Marketing sent me a copy of the contract. Don't know how these two companies are linked. So presumably I did. However, there was no signature on the document they sent me, and I had discarded documents for this phone when I bought a new one about three years later. I told them I thought it was a bad show that I had had no communication from them in all this time. They then sent me a list of SMS's they say they had sent me in 2014 and 2015. Then again in 2019, 2020 and 2021. No communication in 2016, 2017 and 2018. I have no recall of receiving these SMS's and no records. I have now cancelled this contract and the debit order has been stopped. Cost to me has been about R19 000.00 over nine years. Minus R6480 for the first three years before buying a new phone. So I wasted R12 500! My fault for not checking my bank statement, but I don't think irregular SMS's are an acceptable form of communication.