A Text Message That is No Prize

 

Staten Island’s only community-based commercial bank warns against text message scams

STATEN ISLAND, N.Y. – A free iPad? A $1,000 gift card? And all for clicking on a “YOU HAVE BEEN SELECTED FOR A PRIZE” text message you got out of the blue? According to the Federal Trade Commission, text message scams are on the rise yet again.

So what can you do when you get unwanted text messages?

  • Delete the text messages. Especially ones that ask you to enter a special code, or to confirm or provide personal information. Legitimate companies don’t text or email to ask for sensitive information like your Social Security number, bank account numbers, credit card and utility account numbers, or passwords.
  • Don’t reply or click on links within the text message. Links can take you to spoof sites that look real but will steal your personal information.
  • Review your cell phone bill for unauthorized charges, and report them to your carrier.

If you are an AT&T, T-Mobile, Verizon, or Sprint subscriber, report spam texts to your carrier by copying the original message and forwarding it to the number 7726 (SPAM), free of charge.

 

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters:718-682-1509

Mobile:917-715-8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

  

Using Your Home as Collateral

 

Staten Island’s only community-based business bank recommends taking a serious look at your home collateral options

 

STATEN ISLAND, N.Y. – If you need money to pay bills or make home improvements, and think the answer is in refinancing, a second mortgage, or a home equity loan, consider your options carefully. If you can't make the payments, you could lose your home as well as the equity you've built up.
Don’t let anyone talk you into using your home as collateral to borrow money you may not be able to pay back.
High interest rates and credit costs can make it very expensive to borrow money, even if you use your home as collateral.
Not all loans or lenders (known as “creditors”) are created equal. Some unscrupulous creditors target older or low income homeowners and people with credit problems. These creditors may offer loans based on the equity in your home, not on your ability to repay the loan.
Avoid any creditor who:


 Tells you to lie on the loan application. For example, stay away from a lender who tells you to say that your income is higher than it is.
 Pressures you into applying for a loan or for more money than you need.
 Pressures you into accepting monthly payments you can't comfortably make.
 Doesn’t give you required loan disclosures or tells you not to read them.
 Misrepresents the kind of credit you're getting, like calling a one-time loan a line of credit.
 Promises one set of terms when you apply, and gives you another set of terms to sign — with no legitimate explanation for the change.
 Tells you to sign blank forms — and says they'll fill in the blanks later.
 Says you can't have copies of documents you signed.

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

 

 

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718-682-1509

Mobile: 917-715-8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

An Online Payday Loan Or Window To A Scam?

 

Staten Island’s only community-based business bank warns against payday loan scams

 

STATEN ISLAND, N.Y. – Strapped for cash? You might think an online payday loan is a quick and easy way to help stretch your money. But before you enter your bank account or any other personal information on a payday loan website, back away from the keyboard! That online payday loan might be a window to a scam.

Knowing how some scam operators work can make you think twice about the sites you visit and what you do when you get there.  The Federal Trade Commission recommends the following tips:

 

Keep a close hold on your personal information. Whether your visit to an online payday loan site results in a loan, simply entering information on the site may come back to haunt you. Even if you never hit "Submit" to complete the transaction, your information can be captured through keystroke logging – a program used to see and store everything you enter on application. Scammers can use this information to commit identity theft, or debit money from your accounts.

Read the fine print. If the details of any online transaction, application or membership program aren’t apparent and understandable, don’t follow through. Incomprehensible or hard to find details could be warning signs of a scam.

Review your bank account and billing statements for unauthorized charges. Regularly reading all your account statements can help you see where your money is going, and help you flag unauthorizedbilling charges. If you suspect an unauthorized charge, ask your bank or the merchant about it, and dispute it.

 

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718-682-1509

Mobile: 917-715-8761

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

 

 

 

 

 

 

 

 

Tips for Secure Credit Card Use

 

Staten Island’s only community-based commercial bank echoes sound advice from the FTC

  

STATEN ISLAND, N.Y. – Regardless of whether you’re using your credit card to buy a laptop or laundry soap, you have rights and responsibilities under the law. Getting a good grip on the safe use of credit cards can help you avoid a credit calamity.

The Federal Trade Commission suggests the following security tips:

    • Never lend your card to anyone.
    • Never sign a blank charge slip. Draw lines through blank spaces on charge slips above the total so the amount can’t be changed.
    • Never put your account number on the outside of an envelope or a postcard.
    • Always be cautious about disclosing your account number on the telephone, online, or other communication device unless you know the person you’re dealing with represents a reputable company.
    • Keep your receipts and print out online receipts so you can reconcile the charges on your bill.
    • Carry only the cards you expect to use to minimize the damage of a potential loss or theft.
    • Keep a record – in a safe place separate from your cards — of your account numbers, expiration dates, and phone numbers of each creditor to report a loss quickly.

 

 

 

About Victory State Bank

 

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited onlinehttp://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917-715-8761

 

The Importance of Understanding a Merchant’s Layaway Policy

 

Staten Island’s only community-based business bank advises doing your research before agreeing to the terms of a purchase

 

STATEN ISLAND, N.Y. – If you don’t want to pay with plastic and you don’t have the necessary cash on hand, you may want to ask a merchant about a layaway plan. Layaway purchase plans are designed for people who want to buy products and services without using credit or paying the full price immediately.

When you buy an item on credit, you take the merchandise home with you. When you use layaway, you typically put down a deposit — usually a percentage of the purchase price — and pay over time; the retailer holds the merchandise for you in reserve. You take the merchandise only when you have paid for the item in full.

The Federal Trade Commission (FTC) says it’s important to ask questions about how particular layaway plans work. Doing a little research on the front end can help you avoid problems later.

Get the merchant’s layaway policy in writing.

Look for details on:

    • The terms of the layaway plan: how much time you have to pay for the merchandise or service; when your payments are due; the minimum payment required; and possible charges for using the plan, like a service fee. Find out if there is a fee or a penalty for missed or late payments: Will your contract be cancelled? Will the merchandise be returned to inventory?
    • The refund policy: If you decide you don’t want the merchandise after you’ve made some or all the payments, can you get a refund? Retailers’ policies may differ: some give you all your money back; others may charge a non-refundable service fee; still others may offer a merchant credit for the amount you paid.

 

Check out the business. Contact your state Attorney General’s Office, local consumer protection agency, and your local Better Business Bureau. They can tell you if consumers have filed complaints against the retailer or online service.

Keep good records of the payments you make on layaway merchandise. They may come in handy if you have a problem with the seller.

 

 

About Victory State Bank:

VSB Bancorp, Inc. (OTC: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718 682 1509

http://www.RelevantPR.com

Mobile: 917 715 8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.