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December 30, 2008
Recent television and newspaper media attention to local check fraud situations is heightening customers’ concerns regarding the safety of their accounts and money.
Here are some tips customers should consider to protect their accounts and identity from theft and fraud:
1. While check fraud and other identity theft schemes are more prevalent during the holiday season, this is not a new situation. Fraud and identity theft are an everyday part of life and doing business. While safeguards have been put in place, new schemes occur everyday so consumers must be vigilant in protecting their own identity and accounts.
2. Write checks sparingly and only to businesses or individuals you know. Checks contain significant information—name, address, bank account number and routing number, even your signature. Many retailers also require a driver license number and phone number, which whether preprinted on checks or handwritten by the clerk, can be used by unscrupulous individuals in identity theft.
So what are some safer alternatives to checks? While no form of payment can be completely guaranteed safe from theft or fraud (not even cash!), here are some alternative methods of payment which tend to be safer:
· Debit Card (FSB MoneyCard)* – for purchases made at merchants who use computerized scanning and processing devices (not manual, carbon form processing), a debit card can be safer as it does not leave a paper trail of personal information. Be sure to guard your PIN number, however, if you must enter it for a transaction.
· Online Bill Pay* – paying for expenses such as utilities, credit card bills, etc. can be initiated securely with Online Bill Pay. Customers who enroll to use this service can set up these payments to occur automatically, or go online to pay their bills as needed. Many service providers also offer online payment options which are generally very secure; again, only set up these types of payments with reputable companies.
· ACH Transactions – having payroll, social security, pension payments, dividend checks, and other payments directly deposited to your account via ACH is much safer and reliable than receiving a paper check.
*Note, there is no annual fee for a MoneyCard nor monthly fee for Online Bill Pay if a customer has, or switches to, a Silver, Gold, or Platinum Relationship Package account. Customers should speak with their Relationship Manager for more information.
3. Use only secured mailboxes. If you do need to mail a check or other document with personal information, be sure to use a secured mailbox such as at the U.S. Post Office. Also be sure to ask the Post Office to hold your mail if you plan to be out of town for any length of time.
4. Balance your checking account each month and be aware of account activity. One of the best ways customers can and should protect themselves is to monitor the activity in all of their accounts:
· Review account statements as soon as they are received. Investigate any unknown or unauthorized checks and automatic withdrawals from your accounts and report any suspicious activity immediately to First State Bank.
· Sign up for Online Banking. With First State Bank’s Online Banking, customers can monitor account activity, including viewing copies cleared checks, 24 hours a day, 7 days a week. Online banking is a free service to all First State Bank customers. Customers can enroll right online if they would like to begin using this convenient service.
5. Treat your checkbook, debit, and credit cards like cash. Don’t carry more than you need to on your person, or leave these things in your vehicle or out in the open at home.
6. Guard your account numbers, social security number, PIN numbers, and other personal information. Limit the personal information you carry in your wallet; and make sure these things are stored in a safe place at home.
7. Do not give out any personal information on the phone or internet, unless you initiated the call and are certain of who you are dealing with. First State Bank staff will only ask you for account numbers and verification information if you are contacting the bank with a question or problem.
8. Do not send personal information such as account numbers, social security numbers, etc., via the internet or email unless you are certain the website or email is secure (usually denoted by a padlock symbol on the screen). Note! While First State Bank’s Online Banking is secure, the bank does not currently have a secured way to send secured emails to our staff.
Additional Resources. Concerned customers should speak with their Relationship Manager if they have additional questions about safeguarding their accounts.
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