Consumers are protected by Regulation E, a regulation put forth by the Federal Reserve Board, that limits a consumer’s liability for unauthorized electronic funds transfer (EFT) transactions. In general, an EFT is unauthorized if all 3 of the following apply:
A person other than the account holder initiated the EFT
The account holder did not authorize the EFT
The account holder did not receive any benefit from the transaction
Regulation E was put in place to protect you, but keeping your debit and credit cards safe is important. That’s why we only provide cards with chip readers and paperless statements. Read more about card security tips below:
Go paperless and sign-up for electronic statements.
At Howard Bank, we call them eStatements. Your financial statements often include your name, address, and account numbers. Identity theft can occur when someone steals your mailed statement. Checking your balance or viewing your statements is safer when done online, but there are even more benefits to them!
Convenience: Access them from your mobile device or desktop anywhere, anytime.
Organization: Remove some of your paper clutter.
Time Savings: Don't wait around for snail-mail.
Go Green: Help reduce our carbon footprint and save a tree.
Security: Eliminate the risk of your mailed statements with personal information from being lost or stolen.
Be sure to read more about online security tips here. If you're ready to enroll in Howard Bank's eStatements, login tobusinessorpersonal online banking to sign up.
Activate & Sign
Activate & sign your cards immediately.
Make sure to call and activate your cards and sign the back of your credit and debit cards immediately upon receiving them.
Protect Your PIN
Protect your PIN.
Never share your PIN or write your PIN down. Be aware of your surroundings when using an ATM or making a purchase on a pin-pad to ensure no one can see your PIN entry.
Shred Your Mail
Shred any applications or documents with debit or credit card information.
It is common for people to receive credit card applications by mail. Be sure to tear or shred any of these undesired documents. If you don’t have a shredder at home, search for shredding services near you.
Protect Your Card Information
Never give your card information via email.
Emails can be intercepted and put your finances at risk. Never share your information via email, even to friends or family. If you can’t make a purchase in person, opt for providing your information over the phone.