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Can You Get Scammed With an E-Check? The Risk of Fraud & Prevention Methods

Date: December 26, 2024

An Association for Financial Professionals survey of treasury professionals revealed that checks remain the payment method most prone to fraud, with 65% of respondents reporting fraudulent activity. Unlike in-person transactions, e-checks lack the same level of protection, making them an attractive target for scammers. So, can you get scammed with an e-check? We’ll answer this […]

Is It Safe To Order Checks Online? [Explained]

Date: December 26, 2024

If you’re running low on check pages, you can reorder them from your bank, credit union, or certified retail stores. But is it safe to order checks online, given the rise in check fraud and the risk of sharing sensitive information via the internet? As with any online transaction, the key to safe online check […]

Can Someone Hack Your Bank Account Through PayPal—Answered

Date: December 26, 2024

Recent trends in financial crime reports show that payment fraud is skyrocketing. In 2023, 80% of organizations fell victim to payment fraud attacks, while consumers lost up to $10 billion to fraud and scams. Since PayPal is one of the several channels criminals use to access victims’ funds illegally, you may wonder—can someone hack your […]

Does Closing a Savings Account Affect Credit? Explained

Date: December 26, 2024

Closing your current savings account is a common practice if you want to earn more interest on your savings, avoid fees, or switch to another bank. However, many people refrain from closing their savings accounts out of concern that doing so might hurt their credit history. So, does closing a savings account affect credit, or […]

Temu Bank Account Hack—Are the Rumors True?

Date: December 25, 2024

Temu is a Chinese online marketplace that has become widely popular for its low prices, constant clearance sales, and heavily discounted goods. However, the company has faced public criticism for allegedly stealing user information and hacking bank accounts. If you’re considering shopping on this platform, you might be wondering—is it hacking people’s bank accounts? Follow […]

Is It Safe To Send Your Bank Account Number Over Email? Answered

Date: December 24, 2024

Sharing personal information online comes with certain risks, like making you vulnerable to fraud attacks. Still, you may sometimes be required to share your financial information with someone online—but is it safe to send your bank account number over email? With the rapid rise in payment fraud between 2023 and 2024, it’s smart to be […]

Tax Refund Check Stolen and Cashed—What Should I Do?

Date: December 24, 2024

Tax season often brings excitement as people look forward to their tax refunds. But this time of year is also notorious for stolen tax refund checks. Most people don’t realize they’re victims until their legitimate tax returns are rejected because someone has already filed and received a refund in their name. Scammers use stolen personal […]

The Difference Between a Checking and a Savings Account—A Detailed Comparison

Date: December 22, 2024

Savings and checking accounts are both great options if you want to keep your money safe and enjoy the flexibility of accessing your funds whenever you need them. Still, these accounts differ in their features and perks, from interest rates and withdrawal limits to debit cards and digital payments. So, they may not both be […]

Does Opening a Savings Account Affect Your Credit Score? Explained

Date: December 22, 2024

Opening a savings account is one of the smartest financial moves you can make. It has multiple pros—you grow your money, save for retirement, and plan for your future in one fell swoop. Still, an impressive financial portfolio isn’t everything—you also need a good credit profile, especially for significant financial needs like a college or […]

Traditional Savings Account—How It Works & Which One To Choose

Date: December 21, 2024

Savings accounts may be the safest and most popular way to keep and grow your money for both long-term and short-term goals. In fact, 47% of Americans own a savings account, while 35% have more than one savings account. While there are various types of savings accounts available, traditional savings accounts are typically the first […]

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