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12 Tips for Protecting Your Mobile Devices

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As consumer use of mobile devices continues to climb, cyber criminals are targeting those gadgets more frequently. According to a report by the Federal Reserve, 43 percent of smartphone users say they have used mobile banking in the past 12 months. Pinnacle Bankis highlighting 12 ways consumers can take extra precaution to protect the data on their mobile device.

“We use gold-standard safeguards to protect customer information, but it’s also important for users to keep safety measures in place to prevent sensitive data from being compromised,” said L. Jackson McConnell, Jr., Pinnacle CEO.“It’s easy to forget that your mobile device can be vulnerable, but any device used to connect to the internet is at risk.”

Pinnacle Banksuggests following these 12 steps to protect your mobile device:

• Use the passcode lock on your smartphone and other devices – This will make it more difficult for thieves to access your information if your device is lost or stolen.

• Log out completely – when you finish a mobile banking session.

• Protect your phone from viruses – and malicious software, or malware, just like you do for your computer by installing mobile security software.

• Use caution when downloading apps – Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”

• Download the updates – for your phone and mobile apps.

• Avoid storing sensitive information – like passwords or a social security number on your mobile device.

• Tell your financial institution immediately if you change your phone number – or lose your mobile device.

• Be aware of shoulder surfers – The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.

• Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.

• Beware of mobile phishing – Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.

• Watch out for public Wi-Fi – Public connections aren’t very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network. Consider using a Virtual Private Network (VPN) app to secure and encrypt your communications when connecting to a public Wi-Fi network. (See the Federal Trade Commission’s tips for selecting a VPN app.)

• Report any suspected fraud to your bank immediately.

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Blog Business

7 Worthwhile Ways to Use Your Tax Refund

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According to the Internal Revenue Service, more than 70 percent of the nation’s taxpayers received a tax refund averaging nearly $3,000 in 2017 and will get a similar amount this year. As Americans receive their refunds along with additional benefits coming from the Tax Cuts and Jobs Act passed in December, Pinnacle Bank has highlighted seven tips to help them use the money wisely.

“Tax season is the perfect time to hit the reset button on your finances,” said L. Jackson McConnell, Jr., Pinnacle CEO.“Your refund can help put you on the right path towards reaching your financial goals. Consider using it to pay off debts or creating an emergency fund.”

To help consumers make the most out of their money, Pinnacle Bankhas highlighted the following tips:

• Save for emergencies – More than 60 percent of Americans are not prepared for unexpected expenses. You can prepare by opening or adding to a savings account that serves as an “emergency fund.” Ideally, it should hold about three-to-six months of living expenses in case of sudden financial hardships like losing your job or having to replace your car.

• Pay off debt – Pay down existing balances either by chipping away at loans with the highest interest rates or eliminating smaller debt first.

• Save for retirement, your child’s education or future health expenses – Open or increase contributions to a tax-deferred savings plan like a 401(k) or an IRA. Your bank can help set up an IRA, while a 401(k) is employer-sponsored. Look into opening a tax-advantaged 529 education savings plan to ensure school expenses will be covered when your child reaches college age. Or save for future health expenses with tax-free dollars by investing in a Health Savings Account.

• Pay down your mortgage or student loans – Make an extra payment on your mortgage or student loans each year to save money on interest while reducing the term of your loans. Be sure to inform your lender that your extra payments should be applied to principal, not interest.

• Invest safely with U.S. savings bonds or municipal bonds – The U.S. Treasury allows for savings bond to be purchased using your tax refund for as little as $50. Savings bonds earn interest for a maximum of 30 years.

• Invest in your current home – Use your refund to invest in home improvements that will pay you back in the long run by increasing the value of your home.  This can include small, cost-effective upgrades like energy-efficient appliances that will pay off in both the short and long term – and with tax credits (as long as Congress continues to renew the program). If you have more substantial renovations in mind, your bank can help with a home equity line of credit.

• Donate to charity – The benefit is two-fold: Giving to charity will make a difference in your community, and you can also claim the tax deduction, if you itemize.Pinnacle Bank also stressed the importance of lower-income workers filing a tax return—even if their income is too low to trigger any federal tax liability—in order to potentially claim the Earned Income Tax Credit (EITC).  Depending on a recipient’s income, marital status and number of children, the EITC can result in a refund of up to $6,318 to help them ensure financial security

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General News

Have you tried our Interactive Teller Machines?

Pinny takes ATMs to a new level

ATMs are pretty convenient, but they’re not exactly great at offering a friendly smile.

That’s about to change at Pinnacle Bank thanks to our new Interactive Teller Machines or ITMs, also known as Pinny.

Our new ITM Pinny offers both convenience and friendly customer service. Pinny makes connecting with a banking professional easier than ever before. She combines the ease of an ATM with the personal and professional service you’ve come to expect from tellers at Pinnacle Bank.

Here’s how it works.

When you drive up to the ITM at your local Pinnacle branch, Pinny will offer you options. You can insert your card and complete a typical ATM transaction. Or you can touch the other option on the screen and talk to a live teller.

(And, we know what you’re thinking. No, you won’t have to talk to a computer image that’s been pre-programmed with canned answers and sort of looks like a real person. Pinny really does let you talk to a Pinnacle teller live and in real time.)

With help from Pinny and with the expertise of Pinnacle Bank’s tellers, customers will be able to do more than their typical ATM transactions. They can use the ITMs to cash checks, make withdrawals or deposits, check balances, or make a loan payment.

Thanks to Pinny, access to a banking professional doesn’t end when the bank doors close for the day. Customers will have access to extended hours and more convenience than ever before.

Have you given Pinny a try yet? Pinny offers plenty of options, especially if you’re juggling a full schedule or if typical banking hours are hard to meet.

So, go ahead. Drive on up next time you’re at your local Pinnacle Bank and give Pinny a try. Chances are she’ll be your new best friend in banking.

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Blog Business Cash Management

6 Tips for Financial Spring Cleaning

As Americans kick off the spring season by cleaning, sorting and tidying up around the house, Pinnacle Bank is encouraging consumers to add financial organization to their spring cleaning to-do list.

To help, we have highlighted six tips for organizing your financial house:

  1. Review your budget. A lot can change in a year. If you’ve been promoted, had a child, or become a new homeowner or renter, be sure to update your budget. Determine what expenses demand the most money and identify areas where you can realistically cut back. Develop a strategy for spending and saving – and stick to it.
  2. Evaluate and pay down debt. Take a look at how much you owe and what you are paying in interest. Begin paying off existing debt, whether that’s by chipping away at loans with the highest interest rates or eliminating smaller debt first.
  3. Set up automatic bill pay. By signing up for automatic bill pay, you’ll never have to worry about a missed payment impacting your credit score. You can set it so that money is withdrawn from your checking account on the same day each month.
  4. Sign up for e-statements, paperless billing, and text alerts. Converting to paperless billing will help keep your house—physical and financial—more clean and organized, and will help protect you from fraud.
  5. Check your credit report. Every year, you are guaranteed one free credit report from each of the three credit bureaus. Take advantage of these free reports and check them for any possible errors. Mistakes can drag down your score and prevent you from getting a loan, or cause you to pay a higher than necessary interest rate.
  6. Manage your money on the go. Utilize your bank’s mobile app to check your balance, pay your bills, transfer funds, deposit a check and send money to friends from wherever you are.
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Blog Business Fraud & Security

8 Tips to Help Prevent Crime at ATMs

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There are more than 400,000 ATMs in the United States. At Pinnacle Bank, we do everything possible to keep our customers safe, especially when they are using one of our ATMs.

Pinnacle Bank takes a number of precautions to ensure that our customers have a safe environment including everything from installing surveillance cameras and lighting to setting withdrawal limits, but there is no substitute for good, cautious behavior on the part of the customer.

Please follow these eight safety tips when using any ATM:

  1. Keep your PIN number a secret. Never write it down or share it with anyone – not even family members.
  2. Be aware of your surroundings, particularly at night. Make sure the ATM is free of sight obstructions. If you observe suspicious persons or circumstances, do not use the machine.
  3. Bring someone with you when using an ATM at night. If you can’t, use an ATM that is located in a public area such as a convenience or grocery store.
  4. Have your ATM card ready and in your hand as you approach the ATM.
  5. Use your body to “shield” the ATM keyboard as you enter your PIN.
  6. Always take your receipts or transaction records with you.
  7. Do not count or visually display any money you received from the ATM. Immediately put your money into your pocket or purse and count it later.
  8. If you are using a drive-up ATM, be sure passenger windows are rolled up and all doors are locked. If you leave your car and walk to the ATM, lock your car.
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Blog Business Fraud & Security

Fight ID Fraud Online

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Nearly three decades after the internet was introduced, the web continues to transform the lives of many users, revolutionizing the way consumers shop, pay bills, and transfer money online. As these advancements make common tasks hassle-free, consumers are urged to take extra precautions, allowing them to navigate the web safely and avoid online crime.

Here are eight ways you can safeguard your information and navigate the web safely:

  1. Keep your computers and mobile devices up to date. Having the latest security software, web browser, and operating system are the best defenses against viruses, malware, and other online threats. Turn on automatic updates so you receive the newest fixes as they become available.
  2. Set strong passwords. A strong password is at least eight characters in length and includes a mix of upper and lowercase letters, numbers, and special characters.
  3. Watch out for phishing scams. Phishing scams use fraudulent emails and websites to trick users into disclosing private account or login information. Do not click on links or open any attachments or pop-up screens from unfamiliar sources. Forward phishing emails to the Federal Trade Commission (FTC) at spam@uce.gov – and to the organization impersonated in the email.
  4. Keep personal information personal. Hackers can use social media profiles to figure out your passwords and answer those security questions in the password reset tools. Lock down your privacy settings and avoid posting things such birthdays, addresses, mother’s maiden name, etc. Be wary of requests to connect from people you do not know.
  5. Secure your internet connection. Always protect your home wireless network with a password. When connecting to public Wi-Fi networks, be cautious about what information you are sending over it. Consider using a Virtual Private Network (VPN) app to secure and encrypt your communications when connecting to a public Wi-Fi network.
  6. Be careful in the cloud. While using the cloud makes it easier to store and share large amounts of files, understand that it also opens other avenues for attack.
  7. Shop safely. Before shopping online, make sure the website uses secure technology. When you are at the checkout screen, verify that the web address begins with https. Also, check to see if a tiny locked padlock symbol appears on the page.
  8. Read the site’s privacy policies. Though long and complex, privacy policies tell you how the site protects the personal information it collects.
  9. Report any suspected fraud to Pinnacle Bank immediately.
Categories
General News

Important Upgrade News

Keeping your information and connection secure is our top priority. With that in mind, we are enabling a security protocol that could impact your access to Online Banking. If you have the most up-to-date version of your browser (Safari, Chrome, Internet Explorer, Firefox, Opera), there should be no issues. However, if you have the latest version and are still unable to access your Pinnacle Bank accounts, it may require downloading your preferred browser again. This security protocol will be implemented April 9, 2018. Click here for more information

Thank you for being a Pinnacle Bank customer.

 

 

Categories
Blog Business

Is It Really The IRS Contacting You?

Is It Really The IRS Contacting You?

From the Internal Revenue Service

Scammers impersonating IRS officials are a growing issue. It is happening in person, over the phone, and via email. Your best defense is being informed and knowing the IRS protocol for contacting taxpayers. The IRS initiates most contact through regular mail. Taxpayers generally receive several notices/letters before they are called or visited.

The IRS does not:

  • Call to demand immediate payment
  • Demand that you pay taxes without question or appeal
  • Threaten to contact local police, immigration officers or other law enforcement

The IRS does:

  • Provide two forms of credentials if you are visited in person
  • Provide you with a dedicated IRS phone number for verification

For more information about avoiding these scams and what to do if you are scammed, click here.

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Blog

Don’t Mingle Small-Business & Personal Banking

Don’t Mingle Small-Business & Personal Banking

From an original article by Jay DesMarteau, Entrepreneur

If you’re starting a business, especially a sole proprietorship, you may be tempted to use your personal checking account as your business account as well. According to a 2015 TD Bank survey of small business owners, 56 percent use a checking account for both business and personal finances, and 53 use a credit card similarly. It may seem convenient, but it could have serious consequences down the road. Also, you could be missing out on benefits that come with business checking accounts.

Things to consider:

  • Cash flow accuracy – With separate accounts, you know exactly how your business cash flow is doing.
  • Tax benefits – Filing business income on a personal tax return is not a best practice. You can miss deductions such as startup expenses, business travel, and more.
  • Payment options – Business accounts offer owners the flexibility to accept credit card payments along with cash and checks.

For complete details on why you should keep your business and personal finances separated, click here.

Categories
Blog Business Fraud & Security Personal Safety & Security

Protect Your “Cyber Home” with a Solid Foundation

From an original article by the Federal Deposit Insurance Corporation

As we all do more tasks such as shopping and banking on our computers, tablets, and smartphones, the need to keep our devices and networks secured has never been more important. Just as your home has locks to deter criminals from stealing your personal belongings, your electronic assets need to be properly protected to prevent theft. Otherwise, it’s like leaving your front door wide open.

Here are tips for cybersecurity:

Use a firewall program – A firewall is a combination of hardware and software that establishes a barrier between your personal computer and an external network, such as the internet, and then monitors and controls incoming and outgoing network traffic.

Keep software up to date – Software manufacturers continually update their products to fix vulnerabilities or security weaknesses when they find them. This includes everything from your operating system and word processing software to your internet browsers and digital photography software.

Use security products from reputable companies – Some anti-virus software and firewalls can be purchased while others are free. Either way, it’s a good idea to check out these products by reading reviews from computer and consumer publications. Use products that have high ratings for detecting problems and providing support if your computer becomes infected.

Plan for a lengthy retirement – The good news is people are living longer. The bad news is many aren’t saving enough for retirement to match their life expectancy. According to the Social Security Administration, men and women who reach the age of 65 can expect to live until ages 84.3 and 86.6, respectively.

This only a fraction of the steps you can take to secure your electronic assets and home network. For the complete list, click here.