Safe
Online Banking Tips
As use of the Internet continues to expand, more banks
and thrifts are using the Web to offer products and
services or otherwise enhance communications with consumers.
The Internet offers the potential for safe, convenient
new ways to shop for financial services and conduct
banking business, any day, any time. However, safe banking
online involves making good choices - decisions that
will help you avoid costly surprises or even scams.
This brochure offers information and tips to help you
if you are thinking about or already using online banking
systems. We will tell you how to:
- Confirm that an online bank is legitimate
and that your deposits are insured
- Keep your personal information private
and secure
- Understand your rights as a consumer
- Learn where to go for more assistance
from banking regulators
Confirm that an Online Bank Is
Legitimate and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an online
bank that has no physical offices, it's wise to make
sure that it is legitimate and that your deposits are
federally insured. Here are tips specifically designed
for consumers considering banking over the Internet.
Read key information about the
bank posted on its Web site.
Most bank Web sites have an "About Us" section
or something similar that describes the institution.
You may find a brief history of the bank, the official
name and address of the bank's headquarters, and information
about its insurance coverage from the FDIC.
Protect yourself from fraudulent
Web sites.
For example, watch out for copycat Web sites that deliberately
use a name or Web address very similar to, but not the
same as, that of a real financial institution. The intent
is to lure you into clicking onto their Web site and
giving your personal information, such as your account
number and password. Always check to see that you have
typed the correct Web site address for your bank before
conducting a transaction.
Verify the bank's insurance status.
To verify a bank's insurance status, look for the familiar
FDIC logo or the words "Member FDIC" or "FDIC
Insured" on the Web site.
Also, you should check the FDIC's online database of
FDIC-insured institutions. You can search for an institution
by going to the at FDIC's home page and selecting "Is
My Bank Insured?" Enter the official name, city,
and state of the bank, and click the "Find My Institution"
button. A positive match will display the official name
of the bank, the date it became insured, its insurance
certificate number, the main office location for the
bank, and its primary government regulator. If your
bank does not appear on this list, contact the FDIC.
Some bank Web sites provide links directly to the FDIC's
Web site to assist you in identifying or verifying the
FDIC insurance protection of their deposits.
Also remember that not all banks operating on the Internet
are insured by the FDIC. Many banks that are not FDIC-insured
are chartered overseas. If you choose to use a bank
chartered overseas, it is important for you to know
that the FDIC may not insure your deposits. Check with
your bank or the FDIC if you are not certain.
For insurance purposes, be aware that a bank
may use different names for its online and traditional
services; this does not mean you are dealing with separate
banks. This means, for example, that to determine
your maximum FDIC insurance coverage, your deposits
at the parent bank will be added together with those
at the separately named bank Web site and will be insured
for up to the maximum amount covered for one bank. Talk
to your banker if you have questions.
FDIC Insurance
Know where to get information about FDIC insurance.
Don't worry about your deposit insurance coverage if
you or your family have less than $100,000 in all your
accounts combined at the same FDIC-insured bank. But
if your accounts total $100,000 or more, find out if
they're within the insurance limit. Contact Glacier
Bank SM for more information.
For additional assistance from the FDIC about the legitimacy
of an institution or the insurance of your deposits,
call the FDIC's Division of Compliance and Consumer
Affairs toll-free at 877-275-3342 or send an e-mail
via the FDIC's online Customer Assistance page.
The FDIC's Web site also has an interactive service
called EDIE (Electronic Deposit Insurance Estimator)
that can help you determine the amount of your insurance
coverage. Or, you can read the online deposit insurance
brochure " Your Insured Deposit ."
It's important to note that only deposits offered by
FDIC-insured institutions are protected by the FDIC.
Non-deposit investment and insurance products, such
as mutual funds, stocks, annuities and life insurance
policies that may be sold through Web sites or at the
bank itself, are not FDIC-insured, are not guaranteed
by the bank, and may lose value.
Protect Your Privacy
Some consumers may want to know how their personal information
is used by their bank and whether it is shared with
affiliates of the bank or other parties.
Starting July 2001, banks are required to give you
a copy of our privacy policy once you become our customer,
regardless of whether you are conducting business online
or offline. You may also see a copy of it posted at
Glacier Bank's Web site. By reviewing this policy you
can learn what information we keep about you, and what
information, if any, we share with other companies.
We may want to share information about you to help market
products specific to your needs and interests. If you
do not wish to participate in information sharing, however,
you have the right to prevent your bank from sharing
your private personal information with parties not affiliated
with the bank, except in certain limited circumstances.
As of July 2001, your bank should provide a clear method
for you to "opt out" of this type of information
sharing.
You may have heard that some companies track your Web
browsing habits while at their site, to understand your
interests and then to market particular services or
promotions. You may want to ask whether your bank tracks
your browsing habits if these practices concern you.
Also, your Web browser may enable you to block the ability
of outside companies to track your browsing habits.
Your bank and your internet service provider may have
more information about how to protect your privacy online.
Help Keep Your Transaction Secure
The Internet is a public network. Therefore, it is important
to learn how to safeguard your banking information,
credit card numbers, Social Security Number and other
personal data.
Look at your bank's Web site for information
about its security practices, or contact the bank directly.
Also learn about and take advantage of security features.
Some examples are:
- Encryption is the process of scrambling
private information to prevent unauthorized access.
To show that your transmission is encrypted, some
browsers display a small icon on your screen that
looks like a "lock" or a "key"
whenever you conduct secure transactions online. Avoid
sending sensitive information, such as account numbers,
through unsecured e-mail.
- Passwords or personal identification
numbers (PINs) should be used when accessing an account
online. Your password should be unique to you and
you should change it regularly. Do not use birthdates
or other numbers or words that may be easy for others
to guess. Always carefully control to whom you give
your password. For example, if you use a financial
company that requires your passwords in order to gather
your financial data from various sources, make sure
you learn about the company's privacy and security
practices.
- General security over your personal
computer such as virus protection and physical access
controls should be used and updated regularly. Contact
your hardware and software suppliers or Internet service
provider to ensure you have the latest in security
updates.
If you have a security concern about your online accounts,
contact us to discuss possible problems and remedies.
Remember that non-financial Web sites that are linked
to your bank's site are not FDIC-insured.
As an added convenience to their customers, we offer
online links to other non-financial sites. An outside
company's products and services are not insured by the
FDIC. We do not guarantee the products and services.
As in everyday business, before you order a product
or service online, make sure you are comfortable with
the reputation of the company making the offer. Only
then should you give out your credit card or debit card
number. And never give the number unless you initiated
the transaction.
For More Help
Answers to your questions.
Many regulations provide consumer protection for both
traditional and online transactions. If you have any
questions or concerns, first try to get answers from
us from our Contact Us Page.
If you're still not satisfied, contact the appropriate
federal regulator.
For a brief overview of the regulations, log on to
the FDIC's Consumer Rights Web page. If you'd like to
review the regulations, you can look them up at http://www.federalreserve.gov/regulations.
Where to file a complaint.
You may file your complaint online or via e-mail using
one of the following methods. If you are not certain
where to file your complaint, you may contact any of
the agencies listed below and they will direct you to
the appropriate office.
Federal Deposit Insurance Corporation: http://www2.fdic.gov/starsmail
Board of Governors of the Federal Reserve System: http://www.federalreserve.gov/pubs/complaints
For More Information
For more information about online banking in general,
write or call the following banking regulators or visit
their Web sites:
Federal Deposit Insurance Corporation
550 17 th Street, NW
Washington, DC 20429
(877) 275-3342 or (877) ASK-FDIC
http://www.fdic.gov
Board of Governors of the Federal Reserve System
20 th and Constitution Avenue, NW
Washington, DC 20551
(202) 452-3693
http://www.federalreserve.gov
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