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Personal Security

Identity theft is a serious problem. Fortunately, simple precautions to protect yourself can help reduce the odds of becoming a victim. Beverly Bank provides the following safety tips to help you safeguard against personal security threats.

Safeguard Your Information
Update Your Contact Information for New Fraud Protection Measures for ATM and Debit Cards
Tips When Using Your ATM or Debit Card From Beverly Bank
Deposit Insurance Coverage
Additional Personal Security Information


Safeguard Your Information

Identity theft occurs when your personal information is stolen and used without your knowledge to commit fraud or other crimes. It can cost you time and money, as well as destroy your credit.

  • Shred financial documents and paperwork containing personal information before you discard them.
  • Protect your Social Security number. Don't carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier.
  • Don't give out personal information on the phone, through the mail or over the Internet unless you know the party you are speaking with and that they have a legitimate need for the information.
  • Never click on links sent in unsolicited emails. Instead, stick with web addresses you know and trust. Use firewall, antispyware and antivirus software to protect your home computer (and keep this software updated). Visit OnGuardOnline.gov for more information.
  • Don't use an obvious password, such as your birth date, your mother's maiden name or the last four digits of your Social Security number.
  • Keep your personal information in a secure place at home.
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Update Your Contact Information for New Fraud Protection Measures for ATM and Debit Cards

To help minimize your exposure to fraud and the impact it may have on your account, we have instituted “state of the art” fraud detection measures for ATM and debit cards. Beverly Bank now monitors your debit card and ATM transactions for unusual activity.

Help us protect your account. Speak with a Beverly Bank customer service representative about updating your contact information including your:

  • Address
  • Phone number
  • Cell phone number
  • Email address

And, be sure to let us know about upcoming trips to locations not in your normal travel pattern so that we can take the proper steps to allow your cards to be used without triggering an alert for uncustomary use or locations.

If we suspect fraudulent debit card or ATM use, fraud detection specialists calling on our behalf will contact you to validate the legitimacy of your transactions (this may be from a person or an automated-calling system). Your timely response to this call is critical in preventing potential risks and avoiding restrictions we may place on the use of your card. If unusual activity is detected, our fraud detection specialists will first ask if you are the cardholder. They will verify they have the correct card by referencing the last four digits of your debit card or ATM number. You will also be asked to verify:

  • Your zip code
  • Recent transactions

If you confirm that recent transactions are not authorized, your card will be deactivated and a new card issued. If you are not at home when the call takes place you will be provided with a case number for reference and asked to contact our fraud detection specialists. Please be diligent in monitoring transaction activity on your accounts and contact us immediately if you identify any fraudulent transactions. To learn more, contact us at 978.922.0857.

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Tips When Using Your ATM or Debit Card

Avoid giving out personal information. Remember that your personal identification number or PIN is private, so never give that out. Unless required for a legitimate business purpose, avoid providing your:

  • Address and ZIP code
  • Phone number
  • Date of birth
  • Social Security number
  • Card or account number
  • Card expiration date

Be cautious in stores and at ATMs. When using your card in a store or at an ATM, make sure you:

  • Take your card to the cash register; do not let cashiers take your card out of your sight
  • Conceal your card and PIN
  • Try to prevent anyone near you from seeing your transactions
  • Watch for cell-phone cameras, mirrors or other devices used to view cards and PINs
  • Go to another ATM if you notice any unusual activity at the one you are using

Be cautious online. You should never respond to unsolicited emails that:

  • Ask you to verify your card or account number (such emails are not sent by legitimate businesses)
  • Provide a link to websites (such sites look legitimate, but they may collect your personal data or put spyware on your computer)

If you have any questions about your ATM or debit card, please contact Beverly Bank or call us at 978.922.0857.

*The Federal Trade Commission is the source for this information. To learn more about identity theft click here. Or request copies of identity theft resources by writing to: Consumer Response Center Federal Trade Commission 600 Pennsylvania Ave., NW, H-130 Washington, DC 20580.

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Deposit Insurance Coverage

At Beverly Bank your deposits are insured in full by both the FDIC and SIF. The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that protects against the loss of insured deposits if an FDIC-insured bank or savings association fails. FDIC deposit insurance is backed by the full faith and credit of the United States government. Since the FDIC was established, no depositor has ever lost a single penny of FDIC-insured funds. FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit (CDs). FDIC insurance does not, however, cover other financial products and services that insured banks may offer, such as stocks, bonds, mutual fund shares, life insurance policies, annuities or municipal securities.

The Share Insurance Fund (SIF) is a private fund owned by the member co-operative banks, which insures all deposits at co-operative banks in Massachusetts above Federal Deposit Insurance Corporation (FDIC) limits. The unique combined insurance coverage afforded by the FDIC and the Share Insurance Fund provides the best deposit insurance available, whether deposit balances are held in passbook, statement or certificate type accounts, or in any combination of these accounts. At a Massachusetts co-operative bank, your deposits are always fully protected. Since its inception, the Share Insurance Fund has preserved the enviable claim of member co-operative banks that “no depositor has ever lost a dollar in any Massachusetts co-operative bank." There is no need for depositors to apply for FDIC insurance or insurance or even to request it. Coverage is automatic.

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Information on deposit insurance on the FDIC Web site

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