Summer Travels and Your Debit Card

With summer just around the corner many families are planning to travel.  Whether it’s a day trip or a trip outside the country, we encourage our customers to alert us if they plan to use their debit cards outside of their typical shopping areas.  This can be done by calling the Customer Care Center at 800-644-9275 or speaking to a Customer Service Representative at your local office.

When you inform us of your travel plans, Austin Bank will alert the Fraud Department who can then take this information into consideration when viewing alerts on potentially suspicious behavior.  Customers do need to be aware that by alerting us to their travel plans it does not mean that all transactions will automatically be approved while traveling in a certain area.  The Fraud Department will also take into consideration the amount of purchases, frequency of purchases, the merchant where the card is being used, etc.  Additional care is given to help protect customers who may be travelling yet have their card lost or stolen while there.  Austin Bank will work to protect our customers whether at home or abroad.

Some additional tips and hints to keep in mind while travelling with your debit card:

·         Never travel out of the country with only one form of travel money.  Bring along a credit card, travelers checks or cash in case your debit card is stolen or blocked for suspicious activity.  

·         Compile a list of telephone contact numbers in case you lose your debit card.  (Remember, you can’t dial toll-free or “800” numbers from outside the United States.  Should you need assistance while travelling, call 903-759-3828.)  

·         Clear your wallet of additional credit or debit cards - these will only cause you more headaches if your wallet is lost or out of your control.  Also, it is a good idea to carry only the card you will be using and keep backup cards in a safe location, e.g. in a safe in the hotel where you are staying.  Or, never keep all forms of payment in one place on your person.  For instance, keep one in your wallet, one in another pocket and one in another bag or location.

·         Make copies of your cards (credit and debit), front and back, and leave the copies along with a list of telephone numbers with a family member or trusted friend.  This person can help you make telephone calls quickly if you misplace your card.

·         Call the Bank – again.  It is always wise to call Austin Bank the week before you leave.  Advise them of all of your destinations and tell them when you plan to return.

·         Set up transaction alerts for credit and debit cards. This will allow you to be informed much faster of transactions that occur on your cards and shut down fraudulent activity.  (You can set up alerts for many types of transactions regarding your checking account.  Log in to your online banking account and set up the alerts in the Messages box on the Accounts page.)

·         Check your balance before you leave.  Know the limits on how much you can withdraw.

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Save all your receipts and check your statement when you return for any fraudulent charges.

Again, we at Austin Bank want to make sure you have the access you need to your finances, at home or while travelling.  If you need any help with your debit card, please reach us at 800-644-9275, and happy travels.

Penny Pinchers - Saving Tips

Penny Pinchers

Today's tip was written by Kelley C. Long, CPA/PFS and member of the National CPA Financial Literacy Commission.

My great-grandma always used to say a penny saved is a penny earned. And she was right! While I don't re-use plastic sandwich baggies like she did, I do practice a few money-saving habits that help me find an extra $50 or so each month to put away towards my financial goals. Here are five of my favorites.

• Save your change. When you're paying with cash, make it a habit to pocket the coins instead of paying with correct change. Once a month, take your change to the bank and deposit the contents in your savings account. You'll be surprised how much you can accrue.

• Round up. When recording expenses in your checkbook register, (You do keep one, right? If not, you should!) write the correct amount in the debit column, but when you carry it over to subtract from your balance, round it up to the next dollar. Watch your "change" add up!

• Match your spending. Most of us have something that we tend to overspend on – it might be a daily latte, new shoes or the latest music. Whatever it is, make a deal with yourself that for every dollar you spend on your indulgence, you'll match it with a deposit to your savings account. That way your hard-to-cut-out treats won't cut into your saving!

• Pocket your grocery savings. Most grocery stores list the amount you "saved" on sale items on the bottom of the receipt. Turn this into real savings by taking the dollar amount and putting it into your savings account. Even if it's only a couple dollars, do it, you'll be amazed how easy it is to give your savings a boost.

• Be deliberate with "found" money. Last month I changed my cell phone plan and reduced my bill by about $20 per month. Instead of just absorbing that money into my spending, I increased my monthly savings account transfer by $20. Do the same with any extra money you find, like raffle winnings, tax refunds, one percent salary increases, etc.

There are lots of little ways to increase the amount of money you save each month; the key is that instead of saying, "Oh, it's just a couple bucks, so it doesn't matter," remember that the little things add up!

This article courtesy of Feed the Pig. Copyright 2011 American Institute of Certified Public Accountants

Austin Bank has several savings accounts to help you meet your savings goals.  Check out a list of options here, and contact your local office for more details on opening an account today.

FRAUD ALERT! Texts, Pop-ups and Downloads

FRAUD ALERT!

Texts, Pop-ups and Downloads

Be on guard against "urgent" requests and unsolicited "deals" on the Internet.

FDIC reports that criminals masquerading as legitimate businesses or government agencies are tricking consumers into divulging valuable personal information over the computer, phone or fax in order to drain bank accounts.  Here are the latest tips from the Federal Deposit Insurance Corp (FDIC) for protecting against new schemes using electronic devices.

THINK TWICE before responding to "urgent" text messages.

A new scam involves a text message sent to cell phones and smartphones warning bank customers that their debit card had been blocked for security reasons.  The message urges users to call a hotline to unblock their card, but instead they reach an automated response system asking for their card number, personal identification number (PIN) and other information.

"Unfortunately, this is enough information for thieves to create counterfeit cards and commit fraud," says Michael Benardo, Chief of the FDIC's Cyber-Fraud and Financial Crimes Section.

Smartphone users are now being targeted by scammers because they almost always have their phone handy and tend to respond to calls and e-mails quickly, so that they may not realize a message is fake until it is too late.  Not only that, but fake web sites are also harder to spot on a small screen.

BE ON GUARD against unexpected pop-up windows on web sites, including your bank's.

If after you're logged onto your bank's web site - or any web site for that matter - you get an unexpected pop-up window asking for your name, account numbers and other personal information, that is likely a sign that a hacker has infected your PC with spyware and is trolling for enough information to commit identity theft and gain access to your bank account.

It's normal for Austin Bank to ask you for your log in ID and password when you first log in and to ask you to answer a 'challenge question' if you want to reset your password or start using a new computer.  But Austin Bank will not ask you - through a pop-up window - to type your name and information such as your date of birth, mother's maiden name, bank account and cell phone numbers.  The bank only needs that type of detailed personal information when the account is initially opened.

BE SUSPICIOUS of unsolicited offers to download games, programs and other "apps."

Those "deals" could contain malicious software directing you to fake web sites or install spyware used to steal information that can lead to theft.  "You should consider using anti-virus software specifically designed for smartphones and other mobile devices," advises David M. Nelson, an FDIC fraud specialist.

YOUR BEST DEFENSES AGAINST HIGH-TECH SCAMS:

• Be aware that cyber criminals always look for ways to use new technology such as smartphones to try to commit fraud.
• Stop and think before giving personal information in response to an unsolicited request, especially one marked as urgent, no matter who the source supposedly is.
• Only communicate with your bank using phone numbers or e-mail addresses you are certain about - such as the customer service number on your bank statement or the back of your card - and add these important numbers to your phone's contact list.  (Contact information for Austin Bank can be found here.)
• Only install programs you know are from legitimate web sites, such as your Internet service provider, financial institution, wireless phone company or trusted app vendors.

For additional tips on avoiding Internet fraud, visit www.onguardonline.gov.


This information provided by Financial Education Corporation.