INFORMATION ABOUT OUR DEBIT CARD
Is my Salem Co-operative Bank Debit Card a credit card?
No. It is an enhanced ATM card that can be used for payment on purchases anywhere
MasterCard® is accepted, just like a credit card is accepted. Your purchases will be withdrawn
from your Salem Co-operative Bank Checking Account.
Where can I use my Debit Card?
You can use your new card anywhere MasterCard® is accepted: retail stores, restaurants, supermarkets, travel agencies, hotels, airlines, etc. In fact, your card can be used at millions
of locations around the world including many fast food chains. In addition, you can use it at
Salem Co-operative Bank’s ATM or at thousands of other ATMs displaying the CIRRUS®, MASTERCARD®, NYCE® or SUM® Program logos.
Is there an annual fee?
No. We offer our Debit Card with no annual fee.
Is there a card replacement fee?
Generally, there is no fee for replacement. However, the Bank may impose a fee for excessive reissues.
How do I use my Debit Card?
When purchasing an item or service, it’s as simple as using a credit card. When you make your purchase, you will either sign a sales slip (if you select “credit”) or enter your PIN number
(if you select “debit”). In either case, the purchase amount will be withdrawn from the available funds in your Checking Account. At an ATM, use your Debit Card and follow the instructions
on the screen.
Are there any surcharges or convenience fees?
If you use your card either at an ATM not owned by Salem Co-operative Bank or to make
a point-of-sale (POS) purchase, you may be charged a fee by that ATM or POS terminal owner,
and by any network used, even if only to make an inquiry. These fees and surcharges are paid directly to these owners and are not in our control. Remember, Salem Co-operative Bank is a member of the SUM® Program and you will not be charged a surcharge or convenience fee if
you use an ATM displaying the gold and green SUM® logo.
What are the benefits of using my new Debit Card?
The conveniences are many. There’s no need to carry your checkbook or to spend time writing checks. You won’t need to carry lots of cash. Your Debit Card is all you need! It’s
a money saver, too! With this card there are no monthly or annual fees, no transactions fees
other than at non-Salem Co-operative Bank or non-SUM® ATM locations, and no credit card bills!
How do I keep track of my purchases?
You will be provided with a receipt for each Debit Card purchase and ATM transaction. You
should record each amount in your check register. All purchases and ATM transactions will be
listed on your monthly Checking Account statement. If you have signed up for Online Banking
you can view your purchases and ATM transactions as soon as they are posted to your account.
Enroll in Online Banking
What if I want to return a purchase that I made using my Debit Card?
No problem! It’s just like you’re returning merchandise purchased with a credit card. Just be
sure to save your receipt in case you need to return an item. Your rights relating to refunds and returned merchandise are the same as when you pay with cash or credit cards. You must resolve issues of this type directly with the merchant. It is the merchant’s own policy on refunds and
returns that governs these transactions.
What accounts can I access?
For ATM use, you will be able to access the checking and statement savings accounts you
designated on your application. Debit Card purchases will be withdrawn only from your
Salem Co-operative Bank Checking Account. If you close your designated account your card privileges will be cancelled and your card will be retained if you try to use it.
If my ATM receipt shows a current balance and an available balance, what is the difference?
The Current Balance is the actual balance in the account on which you inquired. The Available Balance will include your Current Balance plus your Overdraft Protection/Line of Credit plus the balance in any other Salem Co-operative Bank account from which you preauthorized transfers
to cover overdrafts.
Can both my spouse and I have our own Debit Cards?
Certainly, as long as each of you complete and sign an application.
What happens if my Debit Card or ATM Card is lost or stolen?
Notify Salem Co-operative Bank immediately by calling (888) 546-5827. We will stop the use
of your card and order you a new one. For more detailed information, please refer to your
Deposit Account Terms and Conditions brochure you received when you opened your account.
What should I do if I cannot remember my personal identification number, or if my
card’s magnetic strip is damaged?
Simply stop by the Bank’s office during normal business hours. We will be more than happy to process a new PIN number and order you a new card.
How can I get more information about Salem Co-operative Bank’s Debit Card or ATM Card?
Stop by to see us or call us at (603) 898-2153. Our customer service representatives will be
happy to answer all your questions!
DEBIT CARD AND ATM SAFETY TIPS
Automated banking has become a part of everyday life. It’s so fast and convenient, both locally
and when you travel. It is a good idea to review common sense safety guidelines, and take
proper precaution when using your Salem Co-operative Bank MasterCard® Debit Card or
ATM Card.
Protecting Your Card and Your Money
Remember: Your card is very valuable. It’s the only way to get access to your account
through the ATM.
- Never write your Personal Identification Number (PIN) on or near your card. Memorize it! No one can use your card without knowing the PIN.
- Never give your PIN to anyone and never tell it to anyone over the phone- no matter who the caller claims to be.
- Never give your card to anyone. It’s like handing them a signed blank check!
- Keep your card away from heat, sunlight, or anything magnetized, and don’t let it get dirty or scratched.
Protecting Yourself
- Be aware of your surroundings, especially when you travel. All ATM providers try to keep their ATMs well lit and safe. But if the lights are out, or if you notice anyone suspicious, leave the area and try again later, or try another ATM location. Remember, your card is honored at thousands of locations.
- Have your Debit Card or ATM Card and any paperwork ready before you get to the machine. This will save you time and allow you to be aware of your surroundings.
- Don’t let anyone see you enter your PIN.
- Be sure to take your receipt. It may contain personal information including your cardholder or account number.
- If you think your Debit Card or ATM Card is lost or stolen, report this to Salem Co-operative Bank immediately by calling 888-546-5827 at any time.
Government officials call identity theft “the fastest growing crime in the nation”, with over
400,000 people affected last year alone. The average financial loss to an identity fraud victim
is estimated at $36,000.
Thieves obtain personal information such as social security numbers, driver’s license numbers,
credit card numbers, and even birth certificates and passports. Accounts are then opened in the victim’s name for credit cards and loans with the mail diverted to a different address.
With this approach, it could take months or years to learn you are a victim. Pay attention to
the tips listed below.
How can I guard against it?
- Never use your mailbox for outgoing mail. Identity thieves raid mailboxes to steal credit card offers and financial statements. Remove mail promptly from your mailbox.
- Guard your Social Security number. Never carry your Social Security number in your wallet or have it preprinted on your checks. Give your Social Security number only when absolutely necessary. Do not give out personal information like your PIN, debit or credit card numbers over the phone or the internet unless you initiated the transaction. Identity thieves often call you posing as an internet provider or credit card company to gain knowledge of your accounts.
- Be very careful with receipts. Make sure you have them when you leave the store or ATM and do not throw them into a public trash can. Thieves use these receipts to access your accounts.
- Review your credit report from time to time. Your can obtain your free Annual Credit Report as provided under the FACT ACT by calling 877-322-8228 or by visiting www.Annualcreditreport.com
- Destroy pre-approved credit card offers before you throw them out. A home shredder is the best thing to use on financial statements, receipts and old cancelled checks that you are discarding.
- Account for all new checkbooks when you receive them in the mail. If any are missing, report stolen checks immediately. Keep new and cancelled checks in a safe place. Do not carry around more checks, credit cards or other bank items than you really need. Cancel credit cards you don’t use.
- Block your ATM transaction with your body. Keep the keyboard from view and prevent someone from learning your PIN.
- Commit all passwords and personal identification numbers to memory. The less you have on paper the less likely it is that someone will learn these numbers.
- Be creative when you select a password. Don’t be obvious like using the last four digits of your Social Security number., phone number, address, birth date or any format that could easily be decoded by thieves.
What should I do if I’m a victim?
- Contact your financial institution and credit card company to close your accounts. The FBI suggests that you put passwords (not your mother’s maiden name, etc.) on any new accounts you open.
- Call the three major credit bureaus (numbers shown below) to tell them your identity has been stolen. Request a “fraud alert” be placed on your file and that no new credit be granted without your approval.
- EQUIFAX: 888-766-0008
- EXPERIAN: 888-397-3742
- TRANS UNION: 800-680-7289
- Call the Social Security Fraud Hotline: 800-269-0271
- Contact the Federal Trade Commission’s Identity Theft Hotline at 877-438-4338. You can download a complaint form online at www.consumer.gov/idtheft, the agency’s website.
- You should file a report with the police and get a copy of the report in case you need proof of the crime later for credit card companies, etc.
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