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Midtown Bank Newsletter
Greetings!
The more you know about FDIC insurance, the safer your money. Stay within the FDIC's limits and your deposit accounts are 100% safe and secure. Since the FDIC's creation in 1933, no depositor has ever lost even one penny of FDIC-insured deposits.
Today, each deposit is insured to at least $250,000 and FDIC insurance covers all deposit accounts, including checking, NOW accounts, money markets, certificates, and IRA accounts.
What you may not know is how to qualify for more than $250,000 of coverage. This can get pretty technical, but our staff is trained to help you maximize the safety of your deposits with FDIC insurance. Generally, if you own deposit accounts in different ownership categories each total category qualifies separately. The most common ownership categories for individual and family deposits are single accounts, joint accounts, revocable trust accounts, and certain retirement accounts. For businesses, this includes all business structures. To help you determine the coverage you may qualify for please contact one of our account specialists.
From December 31, 2010 through December 31, 2012, all non-interest bearing transaction accounts are fully insured. This is regardless of the balance of the account and the ownership categories, or any other insured account balances. This coverage is available to all depositors, including consumers and businesses.
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How to Keep Your Transactions Secure
The Internet is a public network. Therefore, it is important to learn how to safeguard your banking information, credit card numbers, Social Security Number and other personal data.
Look at your Midtown Bank's Web site for information about its security practices, or contact the Banking Center directly.
Also learn about and take advantage of security features. Some examples are:
- Encryption is the process of scrambling private information to prevent unauthorized access. To show that your transmission is encrypted, some browsers display a small icon on your screen that looks like a "lock" or a "key" whenever you conduct secure transactions online. Avoid sending sensitive information, such as account numbers, through unsecured e-mail. All our online banking is encrypted. Ask a Midtown Bank Customer Representative how.
- Passwords or personal identification numbers (PINs) should be used when accessing an account online. Your password should be unique to you and you should change it regularly. Do not use birthdays or other numbers or words that may be easy for others to guess. Always carefully control to whom you give your password. For example, if you use a financial company that requires your passwords in order to gather your financial data from various sources, make sure you learn about the company's privacy and security practices.
- General security over your personal computer such as virus protection and physical access controls should be used and updated regularly. Contact your hardware and software suppliers or Internet service provider to ensure you have the latest in security updates.
A Midtown Bank representative, email, etc. will never ask for you password or login information. If this happens, call a Customer Representative immediately, as this is probably fraud.
If you have a security concern about your online accounts, contact Midtown Bank to discuss possible problems and remedies. As in everyday business, before you order a product or service online, make sure you are comfortable with the reputation of the company making the offer. Only then should you give out your credit card or debit card number. And never give the number unless you initiated the transaction.
You can learn more about online safety and security at these websites.
www.staysafeonline.org
idtheft.gov
If you have any questions, please contact a Customer Representative at (404) 969-4400.
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