An email is circulating saying that “The ACH transaction, recently initiated from your bank account, was rejected by the Electronic Payments Association. Please review the transaction report by clicking the link below”. Don’t click…It’s a scam.
Random pre-recorded phone messages are being sent to consumers with the warning that their debit cards have been closed. When the consumers call the telephone number provided by the fraudsters they hear a recording that requests a 16-digit card number and PIN. Don’t call and don’t divulge such information. This is a scam.
The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of a fraudulent e-mail that has the appearance of being sent from the FDIC. For more information you can visit the FDICs website.
The subject line of the e-mails state, "you need to check your Bank Deposit Insurance Coverage." The e-mail tells recipients that, "You have received this message because you are a holder of a FDIC-insured bank account. Recently FDIC has officially named the bank you have opened your account with as a failed bank, thus, taking control of its assets." The e-mail then directs recipients to click on a link stating, "You need to visit the official FDIC website and perform the following steps to check your Deposit Insurance Coverage."
This e-mail and associated Web site are fraudulent. Recipients should consider the intent of this e-mail as an attempt to collect personal or confidential information, or to load malicious software onto end users' computers and should not click on the link provided.
The FDIC does not issue unsolicited e-mails to consumers. Financial institutions and consumers should NOT follow the link in the fraudulent e-mail.
Criminals often use names of organizations we all know to lure users into clicking links that may infect their computer. Users should always ask themselves if an email makes sense. If not, never click links or open attachments in the email. If suspicious, contact the agency directly to verify legitimacy.
July 2010
8 Tips for Using Check Cards
1- Keep receipts and note debits in checking register.
2- Check account balance frequently either online or through the bank to avoid overdraft.
3- Beware of bank overdraft policies and fees. Customers can decline the bank's "convenience" coverage for overdraft, which could cost high fees if they overdraw the accounts. Instead, sign up for overdraft protection that is covered by a savings account.
4- Most check cards now have "zero liability" protection that exceeds what the federal law call for, so security is a lesser issue. Still, consumers should check with their banks to see how debit transactions are processed. Only those going through the Discover, MasterCard, or Visa networks may be covered by zero liability.
5- PIN transactions are more secure than signature transactions, although most don't qualify for reward points.
6- If consumers pay off their credit card balances each month, they're better off using a credit card with rewards for purchases than a debit card or check card.
7- Find out what the bank's daily limit for usage is for your checking account.
8- If a cardholder's balance is low, it's best not to use debit for purchases such as gas, where a hold of at least $50 will be placed on the card.
Go Direct is a national compaign designed to motivate more Americans to select direct deposit for their Social Security, Supplemental Security Income (SSI) and other federal benefit payments. The U.S. Department of the Treasury and the Federal Reserve Banks are sponsoring the campaign. Click here for more info.
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