Why is it that every time I turn around it seems as if I’m running across the street from the Technology Center to the Main Bank to get a new DebitCard?  If I did not work for Texas Bank and Trust, I would be asking myself “Why can’t the bank keep my card information safe from the card breaches that we keep hearing about at places like Target and Home Depot”?  Is my account at Texas Bank and Trust safe?  First let me say that “Yes” your account information is safe.  Texas Bank and Trust’s systems were not compromised.  It was the systems of the large retailers previously mentioned. When you swipe your debit card to pay for a purchase, the swipe includes your debit card number, which is processed through the retailer’s system then sent through the card network to process from your account at Texas Bank and Trust.  What is a breach?  Simply put, a hacker gains entry into the large retailer’s systems to steal the transaction information which includes your debit card number.  To be certain that you do not have an active card with information that was compromised, we replace those cards to protect your account.  Although we have systems monitoring for fraud on your account(s), we must also rely on you to monitor your accounts and report any fraudulent activity.

My next question would be “What do I do if I encounter fraud?”  If you ever encounter debit card fraud on your account you can “cancel” or “hot card” your card through your mobile device, online banking or by calling our Bank Card department at 903-237-5555 between 8:30 am – 5:00 pm or 866-546-8273 after hours.  We will credit your account for the fraudulent transaction the same business day. You will need to stop by any branch location to sign a form stating that you have fraudulent activity on your account.  If that is not convenient for you, we can mail the form to you.   

You are probably thinking that nothing about this IS convenient.  If you are like me - my debit card is my lifeline.  We definitely understand that and can instantly issue a new card for you at any of our TBT branch locations.   You may be thinking “Maybe one part of that is convenient but what about all of my electronic drafts attached to my debit card that I have set up? Now you are changing my debit card number.”  Unfortunately, you will have to change those automatic payments, but I do have a suggestion- you can either utilize our bill pay service, myPay, through online banking to pay those bills, or you can simply use your account number and our bank routing number, 111923238, to have them directly draft your account.  Therefore, if a store where you regularly shop is part of another card compromise in the future you will not have to set up your drafts again.  

What do I mean by “if my card is part of another compromise again?”  Will this not end? Although we cannot protect other systems from compromise, your TBT account information is protected by our systems and we want you to know what tools we have to help you protect your card information.  If you want to know if a breach has occurred, watch our website for updates, ‘LIKE’ us on FACEBOOK, and be on the lookout for alert messages sent to your online banking.  If we miss you through all of those channels, we will contact you by phone or mail if our fraud detection systems detect suspicious activity on your account, or if we receive a notification of fraud on your account.

 Still concerned about the safety of your debit card?  You have control of your card at your fingertips through our mobile and online banking services.  You can suspend or cancel your VISA © checkcard through the mySettings’ “manage your card” link. You can also stop by any TBT branch and walk out with your new checkcard in minutes.

If you make your card your lifeline, take us with you on your mobile device, so that you can control and be aware of what is happening with your accounts at all times. 

By: Sheri Parish
       Senior Vice President and
       Assistant Manger of Technology

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Back to School: Teachable Moments in Money Management

With the dog days of summer coming to a close and school now back in session, it is the perfect time to open the books on sound money management for kids. Did your child spend the summer working for some extra cash in their pocket? Whether he or she did odd jobs around the house or worked at the local pool, why not use this time to teach your child sound financial lessons that will last a lifetime.

One of the greatest lessons of money management is that it is never too early to begin teaching children the basics of finance. Exposing your children to experiences like visiting the bank, budgeting, and paying bills will go a long way to deepening their understanding of managing their own personal finances into adulthood.

If you are looking for those “a-ha” moments to help get you started, consider these lessons that teach more than they preach:

• Take it to the bank. Bringing your child with you on regular trips to the bank allows you the opportunity to show him or her how transactions work and the importance of establishing long-term banking relationships for future needs. To expand on the lesson, inquire about the possibility of a bank tour, having the manager explain how the bank operates, how money generates interest, and even how an ATM works.

• On payday. Helping your child understand household finances by discussing how your pay is budgeted to pay for the essentials - mortgage, food, and clothing - may open their eyes to the resources available for such expenses. Show your child how a portion at each pay period is saved for future expenses, such as college tuition and retirement, with regular deposits to your own savings.

• At the grocery store. Explaining the benefits of comparison shopping, using coupons, and selecting store brands, will highlight for your child how to buy on budget. You can even complement the lesson with an explanation of needs vs. wants when making purchases.

• Paying bills. Explaining the many ways that bills can be paid will show your child the the different methods of payments available today. Whether you pay your bills over the phone, online, in person, by check, electronic account withdrawals, or with cash, discuss how each method takes money out of your account. Be sure to cover late penalties, emphasizing the importance of paying bills on time.

• Using credit cards. Sharing how credit cards are a loan and need to be repaid will give your child needed insight into the responsible use of credit. Explain how each month a credit card statement comes in the mail with a bill. Go over the features of different types of cards, such as debit and credit cards, and the need to study them carefully to choose the appropriate card for your financial needs.

• Pay Yourself First. Establishing a personal savings account for your child will help plant the seed for a lifetime of savings. Many financial institutions offer a minor savings account with no minimum balance requirements and an opportunity to earn interest. Show your child how to grow their money with regular deposits at birthdays, holidays, and with income from their daily chores.

The fun has just begun with invaluable learning lessons on money management! For additional tips on helping your kids increase their financial literacy, log on to www.thisismytbt.com for money activities in MyClubhouse (ages 12 and under) and MyRoom (ages 13-15). 

By: Karen Partee
       Senior Vice President and
       Chief Marketing Officer

Texas Bank and Trust's Homepage
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