Don't Fall for Phony IRS Websites

 

Staten Island’s only community-based business bank warns against fake IRS website scams

 

STATEN ISLAND, N.Y. The IRS warns consumers about a new tax scam that uses a website that mimics the IRS e-Services online registration page.

The actual IRS e-Services page offers web-based products for tax preparers, not the general public. The phony web page looks almost identical to the real one.

The IRS gets many reports of fake websites like this. Criminals use these sites to lure people into providing personal and financial information that may be used to steal the victim’s money or identity. Typically, identity thieves empty the victim’s financial accounts, run up charges on the victim’s existing credit cards or apply for new loans, credit cards, services or benefits in the victim’s name.

The address of the official IRS website is www.irs.gov. Don’t be misled by sites claiming to be the IRS but ending in .com, .net, .org or other designations instead of .gov.

 

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.

 

 

Mortgage Ads

 

Staten Island’s only community-based business bank highlights missing information from mortgage ads

 

STATEN ISLAND, N.Y.If you’re looking for a mortgage to buy a home or refinance an existing loan, you may see or hear ads with offers of low rates or payments. Whether you see them on the Internet, on television or in the paper, or whether they come by fax or mail, some of these ads look like they’re from your mortgage company or a government agency. Regardless of where you see the ads, remember that while the offers are tempting, some are terribly flawed: they don’t disclose the true terms of the deal as the law requires.

The Federal Trade Commission, the nation’s consumer protection agency, says that when you’re shopping for a home loan, it’s important to understand all the terms and conditions of a proposed loan.

What ads don’t tell you:

The APR

The Annual Percentage Rate is a critical factor in comparing mortgage offers from different lenders. It is the total cost of the credit expressed as a yearly interest rate. This rate is different than the simple interest rate on your loan note, because the APR includes all costs of the credit such as points and processing fees. Knowing the APR makes it easier to compare “apples to apples” when considering mortgage offers. Look for the APR for your loan. The amount may not be in the ad at all; it may be hidden in the fine print, or it may be available deep within a website after multiple clicks.

Important Payment Information

It’s hard to know what you don’t know, and often, some of the most important information you need isn’t in the ad, is hidden in the fine print, or is available only at a website after many clicks. To make an informed judgment about any mortgage offer, you need to know — or ask:

 

  • What will the monthly payment be for every month of the loan, and could it increase? When could it increase? What would your new payment be? Could your monthly payment increase more than once?
  • Does the monthly payment include an escrow amount to pay for your property taxes and homeowners insurance? Or must you pay these costs on your own? If you have to pay on your own, ask your lender for an estimate so you can budget accordingly.
  • What is the term of the loan (for example, 15 years? 30 years?)? How many payments will you have to make? Would the loan be paid off at the end or would you still owe a “balloon” payment?
  • Will you have to pay penalties to refinance or pay off the loan early? If so, how much, and when would they apply? If the loan has an introductory or teaser rate, can you refinance, without penalties, before the rate resets and your payment increases?

 

 

 

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.

 

 

 

 

Fake IRS collectors are calling; Part 2

 

Staten Island’s only community-based business bank shares how to protect yourself from IRS scam

  

STATEN ISLAND, N.Y.This time of year is often taxing for many consumers. Scams aimed at stealing taxpayers’ money make the season more stressful.

The Treasury Inspector General for Taxpayer Administration (TIGTA) warns that crooks posing as Internal Revenue Service (IRS) officials are contacting people claiming they owe taxes. The caller demands a prepaid debit card, wire transfer or a credit card number for payment. If the person doesn’t comply, the caller threatens to arrest or deport the target, or take away their driver’s license or business.

Thousands of victims have lost money to these tax scam artists. But there are ways to recognize them and foil their attempts to steal your money.

To protect yourself from imposters who call, claiming to be from the IRS:

 

 

 

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.

 

 

 

 

Savings, Savings, Savings

 

Staten Island’s only community-based commercial bank reminds you that April is Financial Literacy Month

  

STATEN ISLAND, N.Y.April is financial literacy month, and what a better way to celebrate than starting a savings plan.

No matter your stage of life, it’s important to have savings: Whether it’s for a special purchase, a college education, your first home, retirement, or an emergency fund. But just how do you get started and stay on course? The FTC recommends the following savings tips:

  • Create abudget. The first step toward taking control of your financial life is to evaluate how much money you take in and how much money you spend.
  • Pay yourself first. Consider a payroll savings plan where a certain amount goes directly into your savings account each payday.
  • Get to know the value ofcompound interest. It’s the interest you earn on your initial investment plus all the interest that accumulates over time. It makes your investment grow at a faster rate than simple interest, which is interest earned only on your original investment.
  • Keep it going. If you get a raise at work, bank it. If you pay off your car, bank the monthly payments. If you’re not sure you’ll remember to make the deposits, consider automated transfers from your checking account to your savings or investment account. That way you never even notice it. If you were able to live on less before, you can continue to.

 

 

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.

 

Fake IRS collectors are calling; Part 1

 

Staten Island’s only community-based commercial bank highlights fake IRS scam threat

  

STATEN ISLAND, N.Y.This time of year is often taxing for many consumers. Scams aimed at stealing taxpayers’ money make the season more stressful.

The Treasury Inspector General for Taxpayer Administration (TIGTA) warns that crooks posing as Internal Revenue Service (IRS) officials are contacting people claiming they owe taxes. The caller demands a prepaid debit card, wire transfer or a credit card number for payment. If the person doesn’t comply, the caller threatens to arrest or deport the target, or take away their driver’s license or business.

Thousands of victims have lost money to these tax scam artists. But there are ways to recognize them and foil their attempts to steal your money.

These scammers often:

 

  • call you. But when the IRS contacts people about unpaid taxes, they do it by postal mail, not by phone 
  • use common names and fake IRS badge numbers
  • know the last four digits of your Social Security number
  • demand payment via a prepaid debit card or wire transfer. The IRS doesn’t ask for either of these payment methods, nor will they ask for credit card numbers.
  • rig caller ID information to appear as if the IRS really is calling
  • send fake emails that look like legitimate IRS correspondence
  • make a second call claiming to be the police or department of motor vehicles, rigging the caller ID information  

 

 

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.