News and Events

Protect Your Money From Scams

During the holiday season, we tend to make a lot more purchases online for travel and gifts, so it’s especially important to be vigilant about protecting your money. Here are some of the most common scams to watch for:

Fake Websites and Apps. Scammers often create fake websites that are so similar to the sites of popular retailers, it easily tricks consumers into providing payment information. The scammers take your information and your money, but you never receive the products. Scammers have also developed fake apps that contain malware. When you download the app, the malware steals personal information from your device or locks it, holding it for ransom until you pay the scammers. Other types of fraudulent apps ask you to login using your social media or email accounts that could expose your personal information for the scammers to steal.

Be careful of apps or websites that ask for suspicious permissions, such as granting access to your contacts, text messages, stored passwords, or credit card information. Also, poor grammar or misspelled words in an apps’ description or on a website is a red flag that it is not legitimate.

Email Links. Avoid clicking on links in unsolicited emails or emails from unfamiliar sources. The links may lead to an illegitimate website attempting to get you to enter your credit card or other personal information. Some links may download malware (malicious software, such as computer viruses) to your computer when you click on them that can steal your banking information, including login identification, passwords, and credit or debit card numbers. These emails typically look very similar to ones sent by well-known retailers, banks, and other entities.

Be on the lookout for emails that have typos or other obvious mistakes. In addition, be skeptical of email attachments described as coupons, rebates, or payment forms – they could include malware. And avoid email offers that seem “too good to be true.” If an email promises popular items for free or a surprisingly low price, it is probably a scam.

Making Payments on Unsecure Sites. Before paying for a purchase online, make sure the website you’re on has “https” at the beginning of its URL with a lock symbol:

lock with url http://

This means the site has a protected network connection. Websites with “http” at the beginning of the URL with no “s” are more vulnerable to attacks by scammers who steal credit card information by monitoring network traffic. Also be aware of pop-up windows that appear while you are on a website asking for your credit card information to receive coupons or to win free items. Legitimate companies do not ask for your personal information for those purposes.

Using Public Wi-Fi to Shop or Access Sensitive Information. Wireless connectivity, also known as Wi-Fi, allows your laptop, PC, or mobile device to connect to the internet without a physical wire connection. Many restaurants, hotels, libraries, and other places offer free public Wi-Fi, which is convenient when you’re on the go. However, these networks may not be secure (since they either do not require a password or provide the same generic password to all customers for access) and may expose your personal and banking information to scammers looking to steal names, social security numbers, and bank account numbers.

Avoid using public Wi-Fi to make purchases online, login to your financial accounts, or access other sites that have sensitive information about you. It’s also a good idea to stick with websites that have “https” encryption (discussed above) when in public places.

Package Delivery Confirmation Scams. This scam is especially popular during the holidays when people receive gifts through the mail that they may not be expecting.

The scammers call or email claiming to be from the U.S. Postal Service or a major shipping company and state that you have a package waiting for delivery. To ensure the package is meant for you, you are asked to provide personal information, which the scammers steal to use to open credit accounts in your name. In response to this scam, the U.S. Postal Service explained it does not call or email people and ask for personal information if there is a problem with a delivery. Visit U.S. Postal Service Inspection Crime Alert for more information.

Don’t let these scams dampen your holiday spirits. Instead, here are precautions you can take to protect your money while shopping online:

·         In general, always use difficult-to-guess, unique passwords on every account.

·         If you’re using shopping apps, focus only on official retailer apps found on the retailer’s website or a reputable app marketplace, which offer stronger security.

·         Never provide your debit or credit card information unless you are on a secure site, showing “https” at the beginning of the URL and the lock symbol.

·         Think about implementing two factor authentication on your accounts. Two factor authentication requires you to provide two pieces of evidence when logging into an account. It presents an extra layer of security to make it more difficult for someone who isn’t you to log into your account.

·         Monitor credit card bills and bank statements as well as app and other online transactions for unauthorized purchases or withdrawals. Immediately contact your bank if you see anything suspicious. In addition, you may want to consider signing up for alert services. Many credit card issuers, banks, and mobile app providers offer services that notify you about certain account activities, such as recent logins from unrecognized devices.

State Bank is happy to offer several free account management services for holiday shopping including our Mobile App for Android and Apple devices and the CardValet app for real-time debit card monitoring. Value and Premium checking customers also wishing to take advantage of holiday savings can use the BaZing! Mobile app for local and regional discounts and deals with merchants.

State Bank of Missouri Welcomes Angie Miller, Promotes Daniel Strader

State Bank of Missouri is proud to announce the addition of Angie Miller as an Assistant Vice President and Loan Officer at its Grain Valley location. Angie has over 30 years experience in community banking. Daniel Strader also received a promotion to the position of Vice President. Daniel has been instrumental to the Bank in developing customer relationships through loans and customer convenience services like online and mobile banking.

Mark Heins, State Bank President stated, “We could not be more excited to add Miller to our team. Her advanced banking knowledge coupled with her passion for community involvement and outstanding customer service gives us great confidence in her ability to work with our customers in the Grain Valley area.” Miller is currently President of the Rotary Club in Lee’s Summit. She also contributes her time with the Oak Grove Chamber of Commerce is a member of the Grain Valley Partnership. She is available to assist customers with their loan needs at the Eagles Parkway location.

“Daniel Strader is a great asset to the State Bank team. He is a solution-oriented leader for our organization and as a local Grain Valley resident brings great value to our management team in ideas to better serve the area” stated Heins. His promotion to Vice President will include broadened management responsibilities for both Grain Valley branch locations.

State Bank Introduces New Checking Accounts packed with Money-Saving and Personal Protection Benefits

State Bank is always looking for ways to add value to our relationships with you. With our new Premium Checking and Value Checking accounts, customers can shop local and save local with our shopping app named BaZing, available in the Apple® and Google Play stores. Plus personal protection benefits for your phone, when you travel, and for recovering from identity theft. Visit one of our State Bank locations today to learn more about Premium Checking and Value Checking today.

Manage Your Debit Card with CardValet®

State Bank is pleased to introduce CardValet®, a mobile card management application that helps reduce account fraud by allowing cardholders to monitor accounts with their smartphone and control how, when and where their debit card is used. CardValet was developed in partnership with Fiserv and is available in the Apple® App Store or Google® Play. Once CardValet is set up, cardholders have the ability to “turn off” their card when not in use, establish transaction spending limits and decline a transaction when the amount exceeds a predefined threshold. 

Real-time smartphone alerts can be customized based on the types of information each cardholder would like to receive. For example, a cardholder can set up an alert to be notified when a card is used, when a transaction is approved and exceeds any of the permitted use policies, or when a card transaction has been attempted but has been declined based on the parameters established. CardValet offers cardholders the capability of linking additional accounts to better monitor dependent spending. So, by using the GPS system in their smart phone, geographic use restrictions can be established for college students along with restrictions on merchant type and spending limits.  

CardValet is also ideal for small businesses. All transactions can be monitored or controlled for specific merchant categories, such as travel, restaurants or entertainment, and can be denied or reported for types of merchants deemed not business related.

More updates coming to Internet Banking on May 22nd

We are excited to announce Internet Banking will have a few more great enhancements on May 22nd. The same great funtionality you are familiar with will remain, we are simply enhancing the navigation and appearance to improve your ability to manage your accounts. Key changes include: update in terms used on our Action Menu Display and Action Drop Down Box, bigger display numbers for Balance Information Headings, bold details for Account Numbers and Nicknames for easy reference.   We appreciate your patience as we introduce an improved Internet Banking experience for you.

State Bank to partner with Harland-Clarke for personal and business check printing

Beginning March 10, 2016, State Bank's check printing partner will change from Deluxe to Harland-Clarke. Please visit with a member of our customer service staff about your next check order so we can update your design preferences. Your new checks will arrive in a larger flat pack with a unique "CheckFolio" storage solution we are confident you will prefer. Thank you for your understanding and cooperation as we transition to this new partnership.

Important Information About Debit Card Breaches

State Bank continues to monitor merchant and retailer debit and credit card breaches closely. The security of our customers’ funds and data are of the utmost importance to us, and we take appropriate action to protect them. At this time, if we discover your debit card was involved in a incident, we will notify you immediately and reissue your card. We encourage you to review your transaction history and monitor your account(s) activity on a regular basis through your account statement, Internet Banking or Mobile Banking. Please notify the bank immediately of any unusual account activity so that we may investigate any fraud related transactions. After bank hours you can call 1-800-472-3272.

 

The Home Depot is offering free identity protection sevices, including credit monitoring, to any customer who used a payment card at a The Home Depot store in 2014, from April on. Customers who wish to take advantage of these services can learn more at www.homedepot.com or by calling 1-800-HOMEDEPOT (800-466-3337). Additional information concerning The Home Depot Breach can be found here.

 

Goodwill Industries International confirms malware attack at third-party vendors payment systems enabling criminals to access card data at some Goodwill locations. A full press announcement and affected locations can be found here.

Siganture Systems, Inc. a provider of point-of-sale systems for restaurants including 216 Jimmy John's locations and 108 other restaurant locations acts to block payment card security incident. More information including a detailed list of affected restaurants can be found here. Jimmy John’s Reastaurants is also offering identity theft protection services for affected customers. Additional information on the Jimmy Johns breach can be found here.

 

New Payment Options Available to Internet Banking Users

State Bank is excited to introduce two new payment methods for Internet Banking users. The first is Popmoney, a secure way to send or receive payments using an individual’s email or mobile phone number; and Expedited Payments, allowing you to pay a bill as soon as the next business day. Log in to your Internet Banking account to learn more.

The Safest Place For Your Money is Still in the Bank - FDIC increases insurance coverage from $100,000 to $250,000 per person per institution.

The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds.

FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

There is no need for depositors to apply for FDIC insurance or even to request it. Coverage is automatic.

To ensure funds are fully protected, depositors should understand their deposit insurance coverage limits. The FDIC provides separate insurance coverage for deposits held in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts.

Basic FDIC Deposit Insurance Coverage Limits*

Single Accounts (owned by one person) $250,000 per owner
   
Joint Accounts (two or more persons) $250,000 per co-owner
   
IRAs and certain other retirement accounts $250,000 per owner
   
Trust Accounts $250,000 per owner per beneficiary subject to specific limitations and requirements

* These deposit insurance coverage limits refer to the total of all deposits that an accountholder (or accountholders) has at each FDIC-insured bank. The listing above shows only the most common ownership categories that apply to individual and family deposits, and assumes that all FDIC requirements are met.

Chillicothe State Bank, State Bank of Missouri and The State Bank are all members of the Federal Deposit Insurance Corporation.