This is the next installment in the debitfacts.org series. In this post we’ll talk about how to help prevent theft and identity fraud.

The fight to protect your identity isn’t just fought at the ATM or during a transaction, there are several things you can do in your everyday life to help protect your personal information. Here is a list of some things you can do to help accomplish that goal:

• Shred all personal and/or financial documents before disposing them.

• Destroy unwanted credit, ATM and debit cards.

• Remove your mail promptly from your mailbox.

• Balance your statement with your receipts.

• Memorize your PIN, passwords and Social Security Number so you don’t have to write them down.

• Use longer and more complex PIN’s and passwords and change them regularly.

• Sign all debit and credit cards immediately.

• Notify the bank of address changes in advance.

• Immediately report any unauthorized activity.

• Never use your PIN as a password.

If you follow these additional steps you will aid in protecting yourself from theft and identity fraud. Be sure to check back next week for the next installment.
 

Debit cards are so covenant they have become a huge part of our every day lives. If not used properly they can provide potential threats as well so it’s important that we understand and practice a few tips to keep ourselves safe. Here are some card usage tips taken from debitfacts.org:

• Keep your PIN a secret: This is the key to the vault! You should be very cautions about your PIN. Don’t write it on your cards or put it in your wallet, this is something you really should committee to memory. Don’t give your PIN out to anyone and be cautious of wandering eyes when you enter your PIN at the ATM or the store.
• Report lost or stolen cards immediately: By reporting your cards immediately after you realize it’s lost or stolen you can reduce the chance that your card will be misused. You can find the phone number to report this issue on our website under Contact Us located at the top right of this page.
• Review your account statement for unauthorized transactions: It’s very important that you review your account statement in a timely manner. To keep up with your account activity between statements, you can sign up for the banks free service, Internet Banking. Timely notification of unauthorized transactions can limit your exposure; you can find more details about this in your account disclosures.
• Protect your magnetic strip: This is not security related but more of a convenience factor. The magnetic strip is the brains of the card. If it’s damaged you may not be able to use your card and will have to get a new card. Hopefully you don’t find this out when you are running low on cash in your pocket. So make sure and take care of the black strip on the back of your card.

These are just some of the card usage tips that can be found on DebitFacts.org. For a complete list of the tips be sure to visit DebitFacts.org.
 

We all know the convenience of using a debit card, but few of us realize the risk that we pose ourselves when we are not careful with our little plastic friend! In a world of internet scams and get-rich-quick schemes, it is important to protect yourself to the fullest. Don’t be scared of using your debit card, just be prepared. Here are some simple tricks of the trade to remember when using your debit card:

Know Your Websites:

Whether you frequent the shopping malls or online boutiques it is important to know who you are dealing with. When shopping online be sure to look for secure transaction symbols such as this:  

This symbol can appear in the top right corner or bottom right corner of your browser. Websites that use secure transaction protect your information from internet intruders. After you have completed your online transaction(s) remember to always logout from the site you are using for good measure.

Know Your Stores:

Be wise when shopping at actual stores as well. A pretty common measure to follow when using your debit card is to never let the card out of your sight. Transactions should be processed in sight to ensure that you are not at risk for theft. If the card has to be ran out of sight, make sure to match up your transaction with your bank statements. It is always better to be safe than sorry!

Know Your Over-The-Phone Companies:

When using your card over the phone take extra precaution, just as with in-store and online transactions. Never give out your Personal Identification Number or (PIN). Know the company you are dealing with. No legitimate company or bank will ever ask for your PIN.

Remember, with the proper precautions, debit cards are a wonderful thing. However, you shouldn’t let their convenience overshadow taking appropriate security precautions. Be aware and be responsible. If you ever have any questions about debit transactions and your account, feel free to contact any of your local PBK Bank Tellers/CSRs for further help.
 

Many people question whether or not they are liable if their card is lost or stolen.  This should help answer some questions.

First of all, as soon as you are aware that your card has been lost or stolen, you need to report it to your financial institution. Under the Electronic Fund Transfer Act, you have two business days from the date you realize your card is gone.  As long as you notify a customer service representative (CSR) within the two business days you are only liable for up to $50.00 of any unauthorized charges on your account. 

However, if you do not notify a CSR within the first two business days after discovering your card has been lost or stolen, your liability increases to $500.00.  You would be liable after the first two business days for any unauthorized purchases up to $500.00 if you do not notify a CSR within those two days.

There are examples of both scenarios when you visit DebitFacts.org.  If you have any questions please call one of our customer service representatives.
 

I got an email the other day in my inbox with a link to a Pulse sponsored website called DebitFacts.org. Pulse is a major processor of card activity and is well know and respected in the industry. The website has a lot of useful and insightful information. One page that I found particularly useful was the tips of card usage.

The site gives several tips on things you should be aware of and do or not do and explains why. Here are a few of the tips they listed:

• Keep your PIN a secret
• Do not disclose information about your card over the telephone
• Never disclose information about your card in response to an unsolicited e-mail or request
• Make certain your internet shopping sites are secure
• Report a lost or stolen card at once
• Review your account statements for unauthorized transactions
• Protect your card’s magnetic strip

They also provide several other useful tips such as never letting the cashier enter your PIN number for you and blocking the view of other while you enter your PIN. Here is a link to the page with all of the tips; be sure to give a read: DebitFacts.org.
 

Some of the clever ways that credit card companies try to hook you and reel you in.

Rarely does a day go by that I don’t get something in the mail about a great introductory low-rate APR for a new credit card and I’m on the do not mail list!  Oftentimes they try to entice me with those tempting “convenience checks” that I can conveniently deposit into my checking account to be used at my discretion.  Those credit card companies are so thoughtful!

But what lies beneath the surface of these credit card offers?  If they really are what they seem, then they are a fantastic deal, and we may actually live in a utopian society.  Still, like politicians and fast food menus, what you see and what you get only bear a slight resemblance.  Here are a couple of things to look out for when tempted to take advantage of one of these “great offers.”

1.  Transaction fees- Many times, a credit card offer will advertise an appealing APR on balance transfers.  If you are paying a high interest rate on a card, the idea of swapping cards for a better rate sounds pretty good, but the catch is that in many cases, the fees incurred in the swap more than offset the interest savings.  Transaction fees are usually added in with the convenience checks, too.  If the fee is 5% of the check amount, and you write the check for $2,000, you are going to pay a fee of $100. 

2. Interest rates- Beware of the word “Introductory.”  This is another example of only giving you part of the story.  Know what you are getting into by finding out what interest rate you will be paying after the introductory period.  Everyone thinks that they will pay the card off before the introductory period is over, but the truth is that most do not.  The convenience checks often have a much higher rate than the card, too.

3. Protect yourself- If you do choose to take advantage of the convenience checks Hey, some people like to live dangerously make sure that you don’t write the check for an amount beyond your credit limit.  This is where the fees can really add up quickly.  Not only could you end up with credit card fees, this could result in bank overdraft fees as well when the credit card company returns the check.  And finally, be sure to properly dispose of read: shred, burn, vaporize, etc. any of these offers that you choose to not take advantage of.  This way you can prevent anybody else from taking advantage of these offers at your expense.  
 

Last week I came across an email in my Inbox from FinCEN that was talking about foreclosure rescue scam techniques that it had been seeing a lot of as of late. First off it’s a shame that anyone would use the economic situation of our country to take advantage of people; when it’s a time for us to unite. That being said there were two particular techniques that FinCEN pointed out that were most prevalent.

The first technique listed, talked about how these companies would persuade homeowners into signing quit-claim deeds to their properties; and then the companies would sale the homeowner’s homes out from under them. (The quit-claim deed essential hands over the property to the business allowing them to sale it and are some times used in conjunctions with divorces and real estate sales.) The properties are being sold to what are called straw borrowers which essentially are individuals whose name, social security number, and credit history are used to hide the identity of the organizers of a for-profit mortgage fraud scheme. So the home owner often then is receiving eviction notices which come as big surprise to them.

The second technique involves companies that are claiming affiliation with different lenders who are not actually affiliated with them at all. They convince the troubled homeowner to pay large up front fees for modification services, but fail to ever take action for the troubled homeowner.

The Federal Trade Commission (FTC) has a hotline that consumers can call to file complaints on fraudulent companies; 1-877-FTC-HELP (1-877-382-4357).
 

Well recently I've been reading about fraudulent home foreclosure scams; which brought to mind a voice mail that one of our employees was left over night a few weeks back. A very slick and fast talking individual had left someone a message about trying to help them with their mortgage payments.

They even mentioned that this was their last courtesy call he would be making, funny since it was the first one he had made. The caller even left a phone number and was very polite and left you with a sense of urgency to call. The individual who received the message thought perhaps it was meant for someone else and not them as they had not tried to contact anyone about such a service.

Well there were a few things that were clues as to how we were able to determine that the call was a scam. The first thing that jumped out to us was that the caller was very free with giving his name (first name only) but never said the name of his supposed customer; so essentially that message could have been for anyone.

Clue number two was that we had never heard from this company or individual before. Typically your last courtesy call is not the first call. The receiver of the message also had not been seeking this service either.

The last and tale-tale sign was when the caller left his phone number. No it was a 555 number or anything like that; chances are the phone number was a legitimate number. If you called it I’m sure they would answer and be extremely polite and offer to work wonders for you. I decided to use the power of the internet. I did a quick search by entering in the phone number and I got a flood of results that had, shall we say a negative tone and the term scam was virtually synonymous with this phone number. I’m of the school of thought that it’s much better to learn from the mistakes of other versus having to make your own mistakes to learn.

That was all the proof we needed to come to the conclusion that the call was indeed a scam. Perhaps this will help you determine if a caller is indeed a scammer the next time you have a question.
 

Start saving today.  PBK Bank offers a Get Away Club Savings Account also known as a vacation club account.  The account starts in April and transfers an amount of $10, $20, or $50 dollars a week from your checking account.  This transfer will come out every Friday for 50 weeks.  (Example: if you have a $10 account, at the end you will have $500 plus interest)  After 50 weeks you will be credited interest and a check will be mailed to you in mid April to early May.  Then its bon-voyage!  It’s that simple.  Come in and see a customer service representative today and we will get you started.
 

There were some new rules that went into place this past Monday (February 22, 2010) put in place by the Federal Reserve that means some changes for credit card companies and new protections for consumers. I’m going to resist the compliance person in me and not get to technical or to into the details but I’m going to try to give a brief overview of some changes that were made.

• Before your credit card company can increase your rate and/or certain fees, or other significant changes to the terms they must send you a notice 45 days before doing so.
• Now your monthly credit card bill should include information detailing how long it would take to pay off your balance if you only make your minimum payment.
• Credit card companies will not be able to increase your rate for the first 12 months.
• If the rate on your card is increased, it can only apply to new charges.
• If you want to be able to make transactions that take you over you limit (this generally generates additional charges and/or higher interest rates) you must first notify your credit card company that you want to allow these transactions; otherwise you will be denied.
• If you are required to pay fees to your credit card company, those fees cannot total more than 25% of the initial credit limit.
• If you are under age 21, you will need to show that you are capable of making the payments, or you will need a cosigner to get a credit card.
• Credit card companies must mail or deliver your bill at least 21 days before it’s due. Also your payment cut-off time cannot be earlier than 5 p.m. on the due date.
• If you make more than the minimum payment, they must apply the excess amount to the balance with the highest interest rate. (There are exceptions to this rule.)
• Credit card companies can only impose interest charges on balances in the current billing cycle.

Keep in mind this is a brief overview as the actual rules are much more detailed. To find out more about the changes you should check the Federal Reserve’s website.
 

Over this past few weeks we’ve looked at various ways that Bill Pay can help you save money, time and help monitor you’re spending. Believe it or not those aren’t even the best benefit of using Bill Pay.

The best part about Bill Pay is that, ok come close I don’t want you to miss this one, it’s ummm FREE! That’s right; this amazing service that can bring you some many benefits and conveniences is absolutely free. The only thing that has cost associated with it is the Expedited Funds and those costs are clearly labeled so you shouldn’t mistakenly use it with out knowing it.

So if you’ve not yet already signed up for Internet Banking and Bill Pay what are you waiting for? Stop wasting money and time and get a handle on your spending and sign up today for this amazing and FREE service!
 

The last two weeks we’ve looked at ways that Bill Pay can save you both money and time. This week we are going to look at how Bill Pay can help you monitor your spending. By knowing what you are spending your money on you might be able to find ways to save a few bucks. 

One way that Bill Pay helps you monitor your spending is that you can have it set to email you each time you make a payment. I’ve found that sometimes I make a bill payment when I don’t have my check register with me and this is a great reminder for me to actually deduct it from my check book.

Also when you set-up your payees you can actually assign them to categories. These categories can be used to help track what areas you are spending your money in. You can also pull various reports through Bill Pay to show you who and what you’ve paid. This can be a great tool for reevaluating your spending habits.

So you can look at Bill Pay like some type of mini budget tracker/financial guide.
 

Last week we took a look at how Bill Pay can help save you money and this week we are going to look at how Bill Pay can help save you some time and who couldn’t use more time.

After the initial set-up of your payees, Bill Pay becomes extremely quick and easy to use. Here is a question for you if you are not using Bill Pay. How long would you estimate that it takes you to pay all of your bills each month from start to finish? That would include writing the check, filling out the slip to send back with your payment, and putting it all in the envelope, then stamping and address the envelope, deducting from your checkbook, and then mailing the payment off? I’m going to guess that this takes a bit of time and that you may even have to specifically set time aside to sit down at the desk or table to knock them all out. By using Bill Pay I can easily pay all of my bills in less than 5 minutes, its that easy.

It could be possible to not even have to touch Bill Pay after some initial setup to pay all of your bills. With Bill Pay you can set-up automatic payments to where the bills are paid automatically. This works well if you have a bill that is the same every month. If you have a payee that can be set up for you to get your bill from them automatically through Bill Pay, you can even setup criteria that can approve and pay those bills as well with out you having to touch a thing. If the bill falls outside of your approval criteria then you’ll be notified via email that your attention is needed with the bill.

I think it’s clear that Bill Pay can really save you some time and after all time is money.
 

This is the start of our latest series on Bill Pay. In this series we are going to take a look at various reasons why one might want to sign up for Bill Pay. The first reason why you should sign up for Bill Pay is that it can help you save money.

I know paying your bills and saving money don’t always go hand in hand but in this case they do. With bill pay you will not have to purchase stamps to send out your bills any more, and you won’t have to worry about the price of gas when you have to run to the post office to drop your bills in the mail.

Bill Pay can potentially help you avoid late fees as well. Things come up and it’s easy to forget a bill, after all who wants to think about having to pay them. With bill pay you can schedule payments in advance. So for example I got my bill today but it’s not due for another 2 and half weeks. Well I can go in today and set that bill to come out two weeks from now. If you have a bill like a house or car payment that is the same each month, you can set it up to go out at a specified time each month. You might not get anything on these types of payments in the mail until after you are late.

Say you’ve forgot to send out a payment and you noticed that it’s due tomorrow. Well typically Bill Pay needs a few more days that that to get the payment to its destination, but with a new featured called expedited funds you can be assured that your payment will arrive next day. Something to note, is that there is a cost for the use of expedited funds and most but not all payees can be paid with expedited funds. Even though there is a cost for the use of expedited funds, often times the cost is much less than the cost of a late fee.

These are a few ways that Bill Pay can help you save money.
 

One of the main objectives of this blog is to help educate our customers. I recently came across a great site for some financial education which I had forgotten about, and thought it would be a great thing to share with our customers on our blog.

The Federal Deposit Insurance Corporation (FDIC) launched something they call “Money Smart” back in 2001; which is designed to provide financial education for individuals who are outside of the financial industry. The program can help you develop financial skills and positive banking relationships.

The education is pretty flexible and it’s at your own pace. They have sections for young adults and even a portable audio version. Best of all, it’s a free service they provide. The program consists of 10 training modules:

• Bank On It (an introduction to bank services)
• Borrowing Basics (an introduction to credit)
• Check It Out (how to choose and keep a checking account)
• Money Matters (how to keep track of your money)
• Pay Yourself First (why you should save, save, save)
• Keep It Safe (your rights as a consumer)
• To Your Credit (how your credit history will affect your credit future)
• Charge It Right (how to make a credit card work for you)
• Loan To Own (know what you’re borrowing before you buy)
• Your Own Home (what home ownership is all about)

So what are you waiting for? Get started on Money Smart, because knowing more about credit and banking services can be a powerful financial tool.

Click here to visit Money Smart.
 

After explaining how the payment process works through Bill Pay last week I ended by telling you I would show you how to find out if a Payee has received your payment. There are actually a couple of ways to find out but I’ll just pick the easiest one, after all who likes having to take a few extra clicks to find out.

Once you are in Bill Payment you will see a line of additional options at the top of places you can go (Make Payments, Expedited Payments, Manage Categories, etc.) You’ll need to click on “View Report”. This page defaults to showing you all of the bills you’ve paid for the current month, but if you need you can use the drop down box in the top left of the page and change it to show the range you are looking for.

Note: You can go all the way back to the last 12 months.

Now you just need to find the payment in question and you can see in the “Status/Confirmation” column. It will tell you the status of the payment along with the Reference Code. For electronic payments if the payment has been received it will say “Completed” and for payments that were sent out via a check that have cleared they will say “Cleared On XX/XX/XXXX”.

So now you don’t have to worry anymore whether that payment was received by your Payee or not. If you have questions or if you notice that a payment hasn’t cleared that should have be sure to give us a call.
 

We have several customers using our Bill Payment system and I’m sure many of them would never go back to licking stamps and addressing envelopes to pay their bills. I know that I wouldn’t! Chances are that if you’ve called in with questions or issues with Internet Banking or Bill Pay I’ve talked to you. One of the more common misconceptions with Bill Pay is how your Payees are actually paid, so I thought I would try to explain the process.

When you make a payment using Bill Payment the amount of the payment is debited out of your account shortly after the scheduled date for your payment to go out. Sometimes people mistake the debit to their account as meaning their payee has received their money. What actually happens is that we send out your payments either electronically or by check (depending on the Payee) it’s on a totally separate account. When your account is debited, that is just us moving the money over to cover your payment.

Make sure to notice when you’re making your payment it should list a “Delivered By” date just below the date you’ve scheduled the payment to go out on. The “Delivered By” date is when you can expect your payee to receive payment by. If you’ve noticed some of your Payees get their money faster than others that would be because the electronic payments are received faster than the ones we have to send checks out through the mail for.

So if you are wondering how to know for sure your payee has received payment; you’ll just have to check back next week where I’ll show you how to find out.
 

This is the start of our latest series on Bill Pay. In this series we are going to take a look at various reasons why one might want to sign up for Bill Pay. The first reason why you should sign up for Bill Pay is that it can help you save money.

I know paying your bills and saving money don’t always go hand in hand but in this case they do. With bill pay you will not have to purchase stamps to send out your bills any more, and you won’t have to worry about the price of gas when you have to run to the post office to drop your bills in the mail.

Bill Pay can potentially help you avoid late fees as well. Things come up and it’s easy to forget a bill, after all who wants to think about having to pay them. With bill pay you can schedule payments in advance. So for example I got my bill today but it’s not due for another 2 and half weeks. Well I can go in today and set that bill to come out two weeks from now. If you have a bill like a house or car payment that is the same each month, you can set it up to go out at a specified time each month. You might not get anything on these types of payments in the mail until after you are late.

Say you’ve forgot to send out a payment and you noticed that it’s due tomorrow. Well typically Bill Pay needs a few more days that that to get the payment to its destination, but with a new featured called expedited funds you can be assured that your payment will arrive next day. Something to note, is that there is a cost for the use of expedited funds and most but not all payees can be paid with expedited funds. Even though there is a cost for the use of expedited funds, often times the cost is much less than the cost of a late fee.

These are a few ways that Bill Pay can help you save money.
 

One of the main objectives of this blog is to help educate our customers. I recently came across a great site for some financial education which I had forgotten about, and thought it would be a great thing to share with our customers on our blog.

The Federal Deposit Insurance Corporation (FDIC) launched something they call “Money Smart” back in 2001; which is designed to provide financial education for individuals who are outside of the financial industry. The program can help you develop financial skills and positive banking relationships.

The education is pretty flexible and it’s at your own pace. They have sections for young adults and even a portable audio version. Best of all, it’s a free service they provide. The program consists of 10 training modules:

• Bank On It (an introduction to bank services)
• Borrowing Basics (an introduction to credit)
• Check It Out (how to choose and keep a checking account)
• Money Matters (how to keep track of your money)
• Pay Yourself First (why you should save, save, save)
• Keep It Safe (your rights as a consumer)
• To Your Credit (how your credit history will affect your credit future)
• Charge It Right (how to make a credit card work for you)
• Loan To Own (know what you’re borrowing before you buy)
• Your Own Home (what home ownership is all about)

So what are you waiting for? Get started on Money Smart, because knowing more about credit and banking services can be a powerful financial tool.

Click here to visit Money Smart.
 

After explaining how the payment process works through Bill Pay last week I ended by telling you I would show you how to find out if a Payee has received your payment. There are actually a couple of ways to find out but I’ll just pick the easiest one, after all who likes having to take a few extra clicks to find out.

Once you are in Bill Payment you will see a line of additional options at the top of places you can go (Make Payments, Expedited Payments, Manage Categories, etc.) You’ll need to click on “View Report”. This page defaults to showing you all of the bills you’ve paid for the current month, but if you need you can use the drop down box in the top left of the page and change it to show the range you are looking for.

Note: You can go all the way back to the last 12 months.

Now you just need to find the payment in question and you can see in the “Status/Confirmation” column. It will tell you the status of the payment along with the Reference Code. For electronic payments if the payment has been received it will say “Completed” and for payments that were sent out via a check that have cleared they will say “Cleared On XX/XX/XXXX”.

So now you don’t have to worry anymore whether that payment was received by your Payee or not. If you have questions or if you notice that a payment hasn’t cleared that should have be sure to give us a call.
 

We have several customers using our Bill Payment system and I’m sure many of them would never go back to licking stamps and addressing envelopes to pay their bills. I know that I wouldn’t! Chances are that if you’ve called in with questions or issues with Internet Banking or Bill Pay I’ve talked to you. One of the more common misconceptions with Bill Pay is how your Payees are actually paid, so I thought I would try to explain the process.

When you make a payment using Bill Payment the amount of the payment is debited out of your account shortly after the scheduled date for your payment to go out. Sometimes people mistake the debit to their account as meaning their payee has received their money. What actually happens is that we send out your payments either electronically or by check (depending on the Payee) it’s on a totally separate account. When your account is debited, that is just us moving the money over to cover your payment.

Make sure to notice when you’re making your payment it should list a “Delivered By” date just below the date you’ve scheduled the payment to go out on. The “Delivered By” date is when you can expect your payee to receive payment by. If you’ve noticed some of your Payees get their money faster than others that would be because the electronic payments are received faster than the ones we have to send checks out through the mail for.

So if you are wondering how to know for sure your payee has received payment; you’ll just have to check back next week where I’ll show you how to find out.
 

We’ve just added a new feature to our popular Internet Banking service. You can now add getting your bank statement to the long list of things you can do through Internet Banking. We’ve offered eStatements for quite some time now and plan on continuing to do so, but for our Internet Banking customer they’ll be able to get their statement without having to keep up with another user name and password.

If you are already getting eStatements but would like to get your statements through Internet Banking instead or if you’re still getting your statements in the mail; you can sign up for Online Statements the next time you log into Internet Banking. Once you log in just click on the Icon on the top labeled “Products & Services”. This will take you to a new page where you’ll see a section titled “CSI – PBK Bank’s online statement partner”; this is where you’ll need to go to sign up.

Signing up is a breeze. Just read the disclosure and accept the disclosure if you agree to the terms, then check your personal information and correct anything if necessary, and then choose to sign up for online statements for a particular account or choose to add it for all of your checking and savings accounts. Then just wait for your next statement cut date and you are set. You’ll get an email letting you know when your statement is ready to be viewed.

There are some nice advantages to choosing Online Statements:

• It’s the environmentally conscious choice;
• You’ll get your statements faster than paper copies;
• You won’t have to remember an additional user name and password to get them;
• It will allow you to save all of your statements to your computer (statements will stay available online for 90 days); and
• It’s FREE!

I personally can’t think of a reason not to sign up. If you need a paper copy of the statement you can simply print it out as needed.

So what are you waiting for log into Internet Banking now and sign up for Online Statements!
 

It is hard to believe that another year is ending. The year 2009 brought us to our 103rd anniversary in business. Over the course of these years we have successfully provided our customers and friends with the best in community banking. We are also proud of the fact that we have created true lasting partnerships with our customers and friends and thank you for your continued loyalty.

PBK Bank has a record of safely and securely handling customers' deposits with due care. Our conservative philosophy of banking has been the foundation to our growth and success, and continues to serve us well. We focus on offering convenient products and services to our customers while following prudent lending practices. It is a core value of our company and key ingredient of what makes us successful in what we do.

Why do customers do business with us? We offer our customers simply the best value. Period. We believe that no one can compete with our unique combination of products and customer service. Our Pretty Big Kids Club and all it offers is one of best in the country. This year we have added PBK Financial Services to give you other options and financial planning….

On behalf of the Board of Directors, PBK Bank staff, and myself, we send you and your family our sincerest wishes for another year filled with good health and prosperity. We look forward to the coming year and sincerely thank each of you for choosing PBK Bank and ask you to tell your friends and neighbors about PBK Bank!

I’m sure I’m not alone in my Christmas shopping dilemma. We all have those people that are just so hard to shop for. They never want anything (at least not that they’ll tell you) and if you give them cash they’ll just take it and deposit it. That might be a sensible and financially responsible decision, but you want to make sure they get something specifically with your monetary gift.

Don’t worry we’ve got the solution and you won’t have to worry about it not fitting and having to take it back. No it’s not our great looking PBK Bank toboggans, but instead it’s our VISA gift cards! This way they can get whatever their heart desires, assuming it cost less than the amount you loaded on the card. You won’t have to worry about is it the right size, color, or even if they’ll like it. Of course they’ll love it, after all who doesn’t like the gift of money.

The gift cards will also force them to buy something and when they do the card will be a reminder of your gift, the perfect gift. So the next time you are by one of locations stop in and get your Christmas shopping finished with some VISA gift cards.
 

Last year the Federal Trade Commission published a guide for holiday shopping and I thought now would be a great time to take a second look at it with the Holiday Shopping season in full swing, and yes it is that time of year again.

Below is a list of tips you can use to get the most out of your money this Christmas and any time for that matter:

• Shop around. Just because it’s on sale doesn’t mean it’s the best price. Some sales may be for a limited time only while others have items discounted everyday.
• Read sale ads carefully. With some sales items the quantities may be limited or not available at all stores. You could call the store before you go to check on availability. Some stores offer this service online as well.
• Consider your time and travel cost. By the time you drive to a bigger city to get that great deal you may have spent more in transportation cost than you saved. So be sure and take that into account and shopping locally might actually save you money in the long run.
• Look for price-matching policies. Some shops will match or even beat competitor’s prices; it never hurts to ask.
• Go online. There are a lot of great deals to be found online. Be sure to keep in mind shipping and time delay cost. Make sure that you are purchasing from reputable site and don’t forget to look around for promotional codes offering discounts and perhaps even free shipping.
• Carefully consider bargain offers that are based on purchases of additional merchandise. Such as buy one get one free or free gift with purchase; if you don’t want or need the item is it really a good deal?
• Clip coupons. Coupons are great for saving money. Be sure to check coupons for restrictions and expiration dates. Some retailers will accept expired coupons, and even coupons from their competitors so be sure to check with the retailer before you make your purchase.
• Ask about sale adjustments. If you buy an item at regular price and it goes on sale the next week, can you get a credit or refund for the discounted amount?

 Hopefully these tips will help you stay in budget and keep you out of going in debt while you spread some Christmas cheer.
 

Does Christmas always sneak up on you?  Is it hard to come up with extra money to do your Christmas shopping?  PBK Bank has made it a little easier on you.  Instead of it all hitting you at one time, why not start now and save a little bit each week.  You can open a Christmas Club account.  With this account, you can elect $5, $10, or $20 to be transferred from your checking account weekly.  It is the perfect way to make next years Christmas shopping a little easier. 

If you elect to open a $5 Christmas club, at the end you will have $250 plus interest.  $10 you will have $500 plus interest, and $20 you will have $1,000 plus interest.  Interest is 3 percent and will be credited after the last transfer. A check will be issued to you in October. 

The first transfer for the 2010 Christmas season will start October 12.  The transfer will come out of your checking account every Monday unless it falls on a holiday and then it will come out the Friday before.  It just so happens that this year’s first transfer falls on a holiday, so it will actually transfer Friday, October 9^th.  There will be a total of 50 transfers and then a two week break before it starts all over again.  If you already have a Christmas Club, you do not have to come in to start a new one.  It will automatically start again unless you come in and close the account.

Do not worry if you do not get in before October 12 to start your account.  You can still open a Christmas Club a few weeks after the start date. You will need to deposit the amount that should have already been transferred.  For instance, if you have a $5 club and you come in October 27^th we would have to have $15 to start the account because there will have already been 3 transfers.  You cannot make any withdrawals on the club account, so it is not so easy to put your hand in the cookie jar. 

Come on in to see us at any location and get the head start you need for the 2010 Christmas season.  Thank you for trusting PBK Bank with your financial needs.
 

It’s mid November, and once again, the yuletide season is just around the Salvation Army bell-ringing corner.  Now, I’m convinced that there are still a few of us out there that get the warm fuzzies over the Charlie Brown Christmas Specials.  The rest of us, possibly the more practically minded, are already thinking about full parking lots, long lines, and maxed out credit cards.  Don’t feel bad, that’s just reality!

Thankfully, the past year or so has taught us a few life lessons.  While the global recession fared no better than his better known cousin, the Grinch, in stopping Christmas from coming, it did make us reevaluate how we measure worth.  Rather than a fixation on excessive indulgences, the economic downturn has shifted our eye to toward things whose value is not weighed by price.  Granted, I like opening presents as much as anyone.  The anticipation of tearing into the wrapping paper has not dwindled with age, but truthfully, I don’t care if the present came from Fifth Avenue or eBay.  Frankly, when it comes to many things I don’t even care if it’s new or used.  In five minutes, it’s going to be used anyway!

Here’s the point, when you set out on your shopping journey, unless you simply enjoy the bustle of a packed shopping mall during the holiday season, you can do most things from your own home.  I’m an avid internet shopper, not because I don’t like malls, but because on the internet, you can find things that you would not find anywhere else (and some great deals, too).  Here’s a good example: when I was a kid, my mother would read my brothers and I stories out of this old “Book of Christmas” treasury.  It was a large, red hardback book with gold writing and a gold holly leaf embossed on the cover.  The book had a lot of sentimental attachment to it, but somewhere along the way it got lost.  Having exhausted every outlet I could think of to track down a copy of this book, I tried searching on eBay for hardback Christmas treasuries.  After a brief search, I found, much to my delight, the book that I had been searching for.  I think that I paid something like five dollars for the book and had found the perfect gift for my mother.  This is just one of several occasions where my online creativity surpassed my relentless perusal of the shopping aisles.

In the end, it’s a more satisfying experience to find something unique for someone that they didn’t even know that they wanted (and bonus points for finding something that’s been out of publication for 20 years).  What’s better, oftentimes, this approach often leads to deals that you can’t find at the mall.  Whatever your approach, don’t forget the real meaning of the season: ‘tis better to give than to receive, and while presents are great, it’s the time with loved ones that sticks with us.

Merry Christmas and good hunting!
 

Hello, I want to talk to you today about what are probably the most underutilized accounts that we offer today.  They are the Vacation and Christmas club accounts which are accounts in which a specified amount of money is deducted from your checking or savings account each week and deposited into another interest bearing account.  It may be because people only associate the account with their name and therefore only think of the accounts as being useful for Christmas presents and vacations.  Well, they are certainly great for either of those purposes, but they have some far more practical uses than that.  In my opinion, everyone would benefit from having a Christmas club or vacation club account (or two).  Even if you don’t buy Christmas presents or take vacations, these accounts can be a great benefit for you. 

Either of these options are a great way to put money back for a rainy day fund.  Most people can easily spare five to ten dollars out of their account each week without even missing it.  This is no more than a single meal at a restaurant.  However, if you allowed this amount to be debited from your account each Monday to be deposited into a club account, by the end of the year you would have a substantial sum of money put back ($250 for the five dollar debit or $500 for the ten dollar debit).  If you could spare just twenty dollars a week, by the end of the year you would have $1000 or if you want to go all out, with a fifty dollar weekly deduction, in a years time you will have accumulated $2,500!  This is just the money that you have put back and does not include the interest that you will have earned on top of that.  This is a great way to save up a slush fund so that when the car breaks down or the refrigerator quits you don’t have to resort to the credit card to get it fixed. 

Another great use for a club account is as a vehicle to begin saving for some future expense (besides Christmas or a vacation).  For example, if you were to set up the club account at the twenty dollar level, when you receive your check for $1,000 plus interest, you could roll that money into a certificate of deposit to begin earning even more interest on it.  This is a great way to begin putting back for college, for a car, or for retirement.

The bottom line is this, Vacation Club and Christmas Club accounts are great ways to save money for a vacation or for Christmas, but, they are also a great way to put some money back for whatever life may throw at you.
 

Not only does PBK Bank offer basic checking accounts, we also offer club checking accounts.  We have three different club accounts that offer free checks of one style, accidental death/dismemberment insurance (the amount varies), and personal internet and ID theft coverage.  Who couldn’t use the personal internet and ID theft coverage in today’s world?

The first club account is the Basic Club Reward Account.  It takes $100 to open and you have unlimited transactions with no minimum balance fee.  The amount of the accidental death/dismemberment insurance for this account is $10,000.  The monthly club fee is $9.  Just remember you also receive free checks of one style and personal internet and ID theft coverage. 

The second club account is the Double Club Reward Account.  It also takes $100 to open and has unlimited transaction with no minimum balance fees.  The only difference is your accidental death/dismemberment insurance increases to $20,000 and the monthly fee is $10.

The last club account we offer is the Family Club Reward Account.  This account offers the same as the other two except for the accidental death/dismemberment.  That changes to $20,000 and for your spouse or dependent child you will have $2,500 covered on them.  The club fee increases to $12.

Not bad for all the benefits you receive for these accounts.  For a reasonably low monthly fee you receive free checks, accidental death/dismemberment insurance and personal internet and ID theft coverage.

If you have any more questions regarding the club accounts please don’t hesitate to call and speak to a customer service representative.  Or stop by any location and we will be glad to assist you.  Thank you for banking with PBK Bank. 

If you are looking for an account that doesn’t take a lot to get started and has a low monthly fee, you’re in luck.  PBK Bank offers three accounts that fit your needs.

The first account is a Student Reward Account.  You must be a student under 23 years of age to open this account.  If you qualify for this account, all you need is $50 to get it started.  There is a limit of 15 debits per statement cycle.  If you do more than 15 debits per statement cycle there will be a $1 charge per item after the 15^th item.  ATM transactions are not included in the debit count.  There are actually no minimum balance fees until you turn age 24 and even then as long as you keep a balance of $300 or more, there will still be no fee.  However, if your balance falls below $300, there is a monthly fee of $8.

The next account with low monthly fees is a Silver Reward Account.  It takes $100 to open the account.  There are unlimited transactions and you receive a discount on safety deposit box rentals.  If you keep a balance of $300 or more, you will have no monthly fees.  If your balance falls between $150 and $299.99 there is a $6 per month fee.  If it falls below $150 then your monthly fee would be $10 per month.

The last account we offer that has a low monthly fee is called the Bronze Reward Account.  It only takes $50 to open.  The maintenance fee is $3 per statement cycle.  There is no minimum balance fee.  There is a limit of 20 checks per statement cycle.  If you write over 20 checks you will receive an excess item fee of $0.50 per item.

A customer service representative will be glad to assist you at any of our locations if you decide one of these accounts is right for you.  Thank you for choosing PBK Bank for your banking needs.
 

PBK Bank offers two different money market accounts.  One is for personal use and the other is for a business. 

The personal money market account can be opened with $2,500 by an individual.  There is no minimum balance fee if the balance stays above $2,500.  However, if the balance falls below $2,500 any day of the month, there is a monthly charge of $15.  You are allowed 6 withdrawals per statement cycle but only 3 by check.  If you write over 3 checks during the statement cycle, there will be a charge of $5 per item. The money market is interest bearing with tiered rates and interest is credited monthly.  If you have a money market account you can receive discounts on consumer and home equity loans.  You will also receive free cashiers checks. 

The business money market also can be opened with an initial deposit of $2,500 by a business.  There is no fee as long as the balance stays above $2,500.  As with the personal money market if the balance falls below $2,500 any day of the statement cycle, there will be a monthly fee of $15.  Transfers made in person, by mail or ATM at one of our PBK Bank locations are unlimited.  Otherwise, there is a limit of 6 withdrawals per statement and only 3 may be made by check, draft or debit card.  If more than 3 checks, drafts, or debit card purchases are made within a month, there will be an excess item fee of $5 per item.  This account is also interest bearing with tiered rates and the interest will be credited monthly.

If one of these accounts interest you, please stop by any one of our locations and a customer service representative will be glad to assist you.  Thank you choosing PBK Bank for your banking needs.
 

Look no further!  PBK Bank offers 3 different checking accounts that have no monthly fees.  Who in life needs or wants to pay any fees that are not necessary? 

The first account we offer with no monthly fees is the E-Account.  This account offers no minimum balance fee and unlimited transactions.  With this account you must receive your statements electronically.  Your first 50 checks are free but after that you are responsible for purchasing checks.

The next account we offer with no monthly fees is the Freedom Checking Account.  This account also offers no minimum balance fee and unlimited transactions.  You would receive your statements through regular mail or electronically if you prefer.  Also with this account you would receive your first 50 checks for free and then it would be your responsibility for purchasing them there after. 

The last account offered with no monthly fees is the Senior Reward Account.  You must be 50 years of age or older to qualify for this account.  If I qualified for this account, I would definitely sign up for it.  Not only does it not have any monthly fees, it also provides you with many other benefits.  For instance, you receive free checks of one style.  It is also an interest bearing account with tiered rates depending on the balance in your account, and the interest is credited monthly.  There are no fees for stop payments as well, and you have unlimited transactions.  Doesn’t that sound wonderful?

If any of these interests you please come see us at any one of our branches and a customer service representative will be glad to assist you.  If you are on a different account and would like to switch to one of the above mentioned accounts, please drop by any branch and tell a customer service representative what account you are interested in and we will be glad to assist you.  As always, thank you for banking with PBK Bank.
 

I’m going to step out on a limb here and say that I’m probably not the only one worried about what’s going on with our healthcare system.  I don’t pretend to have a solution to that problem, sorry, maybe next week.  What we do have, however, is a bit of an insurance policy or, a lifeboat if you will, for those trying to figure out how they will be able to afford necessary healthcare and medical treatment.  We have discussed Health Savings Accounts on our blog page before, but with current storm of health reform controversy, it’s worth taking another look.

For starters, what is a Health Savings Account?  A Health Savings Account is a tax advantaged way of putting a little bit back for future medical expenses.  But wait, that’s what I have insurance for!  Well, that’s true, but just because you contribute to social security doesn’t mean that you shouldn’t have an IRA or a 401k too.  Healthcare is no different.  You’re putting money back to retire on, shouldn’t you also put some back to ensure that you’re alive and well enough to enjoy it?  We can’t rely on the government and insurance companies to provide for all of our medical needs, they cannot afford to.  It’s merely prudent to look out for yourself. 

Can anyone open one?  Well actually, no, there are restrictions.  To qualify for a Health Savings account, you must have a High Deductible Health Plan (HDHP), which generally offers low premiums in exchange for a higher deductible. You also, generally, cannot have other insurance coverage, although there are a few exceptions; ask us about them.

What are the benefits of having a Health Savings Account?  For one thing, contributions may be tax deductible (unless they are made by your employer), which is almost like free money.  Also, contributions may reduce health care premiums (which makes that money go further), and both interest on the assets as well as distributions may be tax free if used for qualifying medical expenses.  These are just a few examples.

Obviously, this is a highly simplified overview, and you should check with your tax advisor for tax information or visit www.irs.gov Publication 969 for complete rules, but if you, like many others, are concerned about the future of healthcare, a Health Savings Account is definitely worth looking into.