3 Notable Spending Days Closely Follow Black Friday

 

Any time you are spending money in places you are unfamiliar with, it’s wise to be cautious. In Victory State Bank’s previous blog, we highlighted “3 Things to Keep in Mind When Shopping on Black Friday.” Today, we are placing a spotlight on three popular spending days that follow on the heels of Black Friday: Small Business Saturday (Nov. 25), Cyber Monday (Nov. 27) and Giving Tuesday (Nov. 28).

Each of these days offer convenience while embracing the excitement of the holidays, but consumers should know who they are dealing with before spending money, advises Staten Island’s only community-based commercial bank.

To help consumers have a holiday shopping experience that doesn’t include regret, and possibly avoid fraud, Victory State Bank is sharing the following tips from USA.gov:

 

BEFORE YOU SHOP ON SMALL BUSINESS SATURDAY:  

§  Verify the accepted methods of payment – Most small businesses accept major branded credit cards and even some payment apps. However, some may only accept cash.

 

§  Read return policies – Small businesses may not allow you to return products or have stricter rules for exchanging items you have purchased.

 

§  Is the location permanent? – Some sellers open pop-up shops in temporarily in spaces during the holiday season. Find how to contact the store after the pop-up shop closes, in case you need to return an item or dispute a purchase.

 

WHEN SHOPPING ONLINE DURING CYBER MONDAY (AND ALWAYS):

Beware of ads on search engines or social media – Scammers advertise popular items at deep discounts, but fail to deliver and steal your payment information.

§  Use legitimate apps – Download retailer’s apps directly from their website to be sure you have the real one. Scammers can create imposter apps to steal your payment information.  

 

§  Choose credit over debit – Protect your right to dispute a charge by paying with a credit card.

 

§  Secure your Internet connection – Avoid using public Wi-Fi networks when shopping online. Check the URLs (especially on the submit payment screen).

 

ON GIVING TUESDAY, TAKE THESE STEPS TO MAKE SURE YOUR DONATIONS GO TO A REPUTABLE CHARITY:

§  Research – Be sure that you are giving to a legitimate charity and not scammer with a similar name or web address.

 

§  Verify tax-deductible statusThe IRS the maintains a database of 501(c)3 organizations. You can write off donations to these organizations on you.

 

§  Be wary of high pressure tactics – Don’t give in to high pressure sales tactics or demands to act now. You have a right to think about the money you give, even for charity.

 

 

About Victory State Bank

VSB Bancorp, Inc. (OTCQX: 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. A planned sixth branch, to be situated in Meiers Corners, has received both regulatory and building department approvals. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.

 

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