Protect Your Identity During the Holidays or Any Time of Year

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The importance of protecting your personal identity became clearer with the recent Equifax data breach where the personal information of more than 143 million Americans was compromised. If you haven’t checked yet, you can still do so at http://www.equifaxsecurity2017.com and clicking “Am I Impacted?” If you have more questions, feel free to call us.

Let Merchants Bank Make Sure You Have the Right Tools

Your security is top of mind at Merchants Bank. We have a number of ways to help you protect yourself with our SecurLock Equip app for your Merchants Bank credit card and My Mobile Money app for our debit card. These apps are very similar.

With SecurLock or My Mobile Money you can:

  • Turn your Merchants Bank credit card or debit card on and off.
  • Control where your credit card or debit card can be used.
  • Receive automatic notifications about possible fraud and take action.

More on SecurLock and My Mobile Money can be found on our website.

Plus, if you use Merchants Online Banking, consider using the “Alerts” functions to monitor activity. To set up automatic alerts, follow the steps outlined in our video tutorial. Alerts can be sent to an email address or via text message.

Best Practices to Use When Shopping Online During the Holidays:

  • Change your passwords often. Use a mixture of numbers, letters and special characters. Don’t use the same passwords for multiple accounts.
  • Be suspicious. Thieves will use calls or emails to trick you into sharing passwords, social security numbers, etc. If you don’t recognize the caller or email, don’t reply.
  • Don’t click on links in emails from your credit card companies, investment companies or banks that would have you update account information. Remember, Merchants Bank will never ask you to update your personal information via a link in an email. When suspicious, call the company at a number you confirmed in a separate source, like a phone book or prior statement.
  • Make a fraud kit. Keep a list of your credit and debit cards, account numbers, expiration dates and customer service of fraud department telephone numbers in a secure place.
  • Read through your credit card bills. If you see a charge you don’t recognize, call and get the charge reversed.
  • Don’t use the “remember password” option. It makes it easier for someone to access your accounts.
  • Do NOT keep a list of passwords in an unprotected document on your devices or written down in an unsecure place.
  • Never save your credit card number online. If that site gets breached, you are at risk. Enter your information each time you make a purchase.

If you’re traveling or spending the winter somewhere else, let us know by contacting your local Customer Service Representative so we can make sure you have the best service.

If you make purchases in a state or country where you don’t normally use your Merchants Bank debit or credit card, we may think these transactions are fraudulent unless we know otherwise. Let us know the dates of your trip, your travel locations and how we may be able to contact you.

If you have additional questions, please contact us. We’re happy to help.

 

 

 

 

The 3 Online Banking Alerts You Should Have Set Up

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Security Awareness Week: June 5-9, 2017

If you’re not using the FREE alerts feature of Merchants Bank Online Banking, you’re missing out on tools that could protect you from identity theft and fraud.

To set up automatic alerts, sign in to your Online Banking account and click the Other Services tab. From here, select the type of alert you’d like to enable and follow the steps to configure. Alerts can be sent to an email address, via text message or both…it’s up to you!

Here’s the list of the top three alerts our Electronic Banking Specialists recommend all customers put in place.

My Profile Changed – Get an alert if there are any changes to your Merchants Bank Online Banking profile. For example, a change to the email address associated with your account. This alert may help you detect if someone else has accessed your account and is trying to make changes to your profile.

Internet Banking Login Error – Get an alert if your password is entered incorrectly when attempting to log in to Online Banking. This alert may help you detect if someone else is trying to access your Online Banking account.

Balance Alerts – Get an alert based on balances above or below a certain dollar amount. Simply select the account you’d like an alert for, then choose an option from the drop down and type in an amount. This alert may help you detect large withdrawals or purchases you did not initiate.

To learn more about all of our Merchants Bank Online Banking alert options, watch this video featuring Lucas Stangl, Electronic Banking Specialist.

To get started with alerts, sign in to your Online Banking account now.

Fraud and Scam Updates for May

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Review our most recent fraud alerts and updates to help keep your personal information secure. Want to be automatically updated about recent scams and fraud? Sign up for our Alerts emails here: http://bit.ly/1G1dF0n

Internal Revenue Service Scam

Some of our customers have fallen for a recent scam involving fraudsters posing as employees from the Internal Revenue Service (IRS). The fraudster will call you – stating to be an Internal Revenue Service employee – and claim you owe back taxes, which can be paid via wire transfer.

The truth is that the IRS does not use phone calls to make personal contacts. If the IRS wants to contact you, they will send a letter first. If you receive a phone call from an individual claiming to be from the IRS, it is a scam. For more information on how and when the IRS might contact you, see these two articles from the Federal Trade Commission:

Check Fraud

Merchants has recently seen an increase in fraudulent checks. Customers have fallen for some “too good to be true” scenarios including being asked to be a secret shopper for a fake business or receiving a winnings check in the mail from a drawing they did not enter. When you receive a check, make sure to consider where it came from.

Some questions to ask yourself:

  • Did I recently enter any contests or drawings where I could win money?
  • Can I verify the information on the check through a third-party? For example, can you confirm a person’s contact information through the phone book? Or confirm a business’s information through an online directory like the Yellow Pages?
  • Does it sound too good to be true?

Be a skeptic. If the situation doesn’t sound right, it’s time to do some more investigating before depositing that check. For more information, read this article on check fraud from the Federal Trade Commission.

Next Steps If You’ve Experienced Fraud

If you think your bank account information has been compromised or you are a victim of identity theft, contact your local Merchants Bank and ask to speak to a Customer Service Representative.

Earn Cash Now by Switching to eStatements

Merchants Bank eStatements

Did you know that 4% of identity theft victims report stolen mail as the source which fraudsters use to obtain their personal information?* You can help prevent fraud and earn $5 for each Merchants Bank checking or savings account enrolled in eStatements by the end of this month.

Why should I sign up for eStatements?
eStatements are convenient, notice of when they are ready to view is delivered directly to your email inbox and reduce your risk of fraud by helping you monitor your account activity regularly. Plus, you’ll receive an eStatement up to five days sooner than your paper statement.

Which accounts are eligible to earn $5?
All personal and business checking and savings accounts are eligible to earn $5 for each account enrolled in eStatements (payment automatically deposited into your enrolled account). Customer accounts previously enrolled in eStatements are not eligible for this promotion.

How do I enroll in eStatements?
Current Merchants Online Banking users can go to www.merchantsbank.com and log in to your Online Banking account. From the main menu, click Preferences and then eStatements. Click Edit in the bottom left corner of the screen to change your eStatement settings. There is no charge for enrolling in eStatements.

Not currently enrolled in Online Banking? Visit our website for more information on Merchants Online Banking.

Earn your $5 today by signing up for eStatements. Login to your Online Banking account to get started.

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*https://postalinspectors.uspis.gov/investigations/mailfraud/fraudschemes/mailtheft/identitytheft.aspx

Digital Security: Be Deliberate, Be Judicious

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Almost daily we hear of new and troubling attacks, hacks, and loss of key data and information, all taken from the online world by digital thieves. The technical ins and outs of these events are often confusing and complex and it’s easy to feel powerless to do anything about them. Yet, we can reduce risk by being deliberate and judicious in our use of digital resources. Here are two steps we can all take today:

Step 1 – Know who we are doing business with
Review privacy policies, learn about security practices, and apply common sense. Stop visiting or engaging with companies or sites that leave us uncomfortable. According to the Business Insider, there are now more than 644 million active websites on the Internet – so chances are the company you are doing business with is not the only provider. As part of Security Awareness Week (June 1-6), Merchants Bank has provided some quick steps to help you identify if a website is legitimate.

Step 2 – Enjoy the social network but…
The FBI cyber center reports the use of social media by cyber criminals has grown 400% since 2009. Sharing too much online allows thieves to build a near complete picture of who we are and then use that information to outright steal (or con others into revealing) otherwise protected data. Instead of posting everything about our lives, pick up the phone, send a note, or get together with friends. After all, it is those close to us who are most interested in what we have to share.

Some of the best approaches to security do not involve technology. By being more deliberate in how we share information, and more judicious in what we share, we can reduce the risks that, if our online information is compromised, it will have little value to thieves and cannot be used against us.

For more security information, sign up for Merchants Bank security tips and alerts via email.

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