Victory State Bank Suggests Consumers Know How to Minimize Liability When a Credit Card is Lost or Stolen


STATEN ISLAND – Has your credit card ever been lost or stolen? Victory State Bank urges cardholders to know how to minimize their liability.

If your card is used without your permission, you can be held responsible for up to $50 per card. If you report the loss before the card is used, you can’t be held responsible for any unauthorized charges.

To minimize your liability, the Federal Trade Commission (FTC) suggests you report the loss as soon as possible. Some issuers have 24-hour toll-free telephone numbers to accept emergency information.

It’s a good idea to follow-up with a letter to the issuer; include your account number, the date you noticed your card missing, and the date you reported the loss.

The FTC also suggests you keep a record — in a safe place separate from your cards — of your account numbers, expiration dates, and the telephone numbers of each card issuer so you can report a loss quickly.

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: 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

www.RelevantPR.com

Mobile: 917‑715‑8761

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

 



Victory State Bank Shares Scams Targeting Military Families

 

STATEN ISLAND, N.Y. – Recently, there has been an upswing in scams targeting Military families. In an effort to keep everyone informed, Victory State Bank would like to provide the following information from the Financial Fraud Enforcement Task Force.

Here are the scams to be aware of:


Charity Scams

Many legitimate charities are soliciting donations to support the nation’s military veterans as well as the families of active-duty personnel. And despite tough economic times, people reportedly are responding generously to these requests. However, not all “charities” are legitimate. Some are sham operators whose only purpose is to make money for themselves. The Federal Trade Commission, the nation’s consumer protection agency, says there are several ways to make sure your donations go to a legitimate charity rather than a greedy scam artist trying to use the cachet of veterans and military families to cash in. For example, did you know that the words “veterans” and “military families” in an organization’s name does not necessarily mean that veterans or the families of active-duty personnel will benefit from the money.


Credit Monitoring

Having good credit is an important issue for all individuals and protecting that credit when your identity has been stolen is critical. Active service members who deploy can place what’s called an “active duty alert” on their credit reports to help minimize their risk of identity theft. The alert requires creditors to take steps to verify your identity before granting credit in your name.


Payday Loans and Cash Advances

Have you ever heard about payday loans or cash advances? If you answered yes, you may know that they usually come with steep interest rates. If you are in the military, the average percentage rate charged on these types of loans cannot be more than 36%. The lender must give you documents that explain the cost of your loan and your rights. However, before you consider a payday loan or a cash advance, you may wish to consider other choices such as getting financial help from military aid societies. For example, you may wish to contact the Army Emergency Relief (703-428-0000), Navy and Marine Corps Relief Society (703-696-4904), Air Force Aid Society (800-769-8951), or Coast Guard Mutual Assistance (800-881-2462).

 



About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: 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

www.RelevantPR.com

Mobile: 917 715 8761

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

 



Victory State Bank Points to Cyber Fraud Avoidance Tips

 

STATEN ISLAND, N.Y. – Victory State Bank strives to keep you safe from cyber threats. The Federal Bureau of Investigation suggests the following tips you can use to avoid becoming a victim of cyber fraud:

 

  • Do not respond to unsolicited (spam) e-mail.
  • Do not click on links contained within an unsolicited e-mail.
  • Be cautious of e-mail claiming to contain pictures in attached files, as the files may contain viruses. Only open attachments from known senders. Scan the attachments for viruses if possible.
  • void filling out forms contained in e-mail messages that ask for personal information.
  • Always compare the link in the e-mail with the link to which you are directed and determine if they match and will lead you to a legitimate site.
  • Log directly onto the official website for the business identified in the e-mail, instead of “linking” to it from an unsolicited e-mail. If the e-mail appears to be from your bank, credit card issuer, or other company you deal with frequently, your statements or official correspondence from the business will provide the proper contact information.
  • Contact the actual business that supposedly sent the e-mail to verify if the e-mail is genuine.
  • If you are asked to act quickly, or there is an emergency, it may be a scam. Fraudsters create a sense of urgency to get you to act quickly.
  • Verify any requests for personal information from any business or financial institution by contacting them using the main contact information.
  • Remember if it looks too good to be true, it probably is.

 

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: 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

www.RelevantPR.com

Mobile: 917 715 8761

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

 


Victory State Bank Keeps Consumers Informed: What is a Credit Score and How is it Calculated?


STATEN ISLAND, N.Y. -- When a lender gets your credit report, they can also generally get your credit score.

A credit score is a mathematically calculated number based on the information in a credit report. By comparing this information to hundreds of thousands of other credit reports, credit reporting agencies come up with a number that can be used to identify your level of future credit risk.

Credit scores are often called “FICO scores” because most scores are produced from software developed by Fair Isaac Corporation also known as FICO. FICO scores range from 300 to 850 – the higher the score, the lower the risk. 

In order for a score to be calculated on your credit report, the report must contain at least one account which has been open for at least six months. The report must also contain at least one account that has been updated in the past six months. This ensures that there is enough recent information in your report on which to base a score.

For additional information about credit reports and credit scores, visit the New York State Department of Financial Services.

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: 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

www.RelevantPR.com

Mobile: 917‑715‑8761

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



Victory State Bank Shares The Basics of Wiring Money

 

STATEN ISLAND, N.Y. In certain circumstances, it may be necessary to wire money to a loved one- in the country or out of the country. Victory State Bank would like to share the following information from the Federal Trade Commission.  

Wiring money is a way to send cash to someone in another place. Here is how it works:

  • you take cash to a place that wires money. Sometimes you can use a credit card or a debit card
  • you show your identification and pay the money you want to send, plus a fee and taxes
  • you fill out papers with:
  1. information about yourself
  2. information about the person getting the money
  • the employee gives you a receipt and contacts their branch in your friend or relative’s town
  • your friend or family member can pick up the cash you “wired”
  1. your friend might have to show identification
  2. or your friend might have to answer a security question you set up

Things to look at before wiring money:

  • taxes – money wiring stores in your area should have the same state and local taxes
  • fees – these might be very different. You might see:
  1. a fee to send a certain amount of money
  2. a fee to send the money faster
  3. a fee that is a percentage of the money you want to send
  4. an extra fee charged when your friend picks up the money

exchange rates – exchange rates change every day and might be very different. The exchange rate you get might mean your family member gets more money or less money.


About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: 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

www.RelevantPR.com

Mobile: 917 715 8761

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