Internet banking has evolved into one of the most popular services offered by banks, with reports indicating that nearly 60 million U.S. households are using it.
If you haven't tried online banking, is it something you should consider, even if you believe you're managing your finances just fine without it?
As more people turn to techonology for everyday tasks, Reliabank offers free interent banking, bill pay and eMobile banking as a convenience to all our customers.
•Internet banking is available 24 hours a day, so you can handle your finances on your schedule, not just when your bank branch is open.
•Online transactions, especially electronic bill-paying, are generally faster than mailing a paper check.
•It can help reduce clutter by eliminating paper bills and statements that may be piling up around your home.
•Using less paper is environmentally friendly.
Online banking is faster, more convenient, and more secure than ever and many of our customers appreciate the convenience of banking and paying their bills online, in addition to the instant access it provides to their account information.
If you own a cell phone, you may want to consider using Reliabank's free eMobile Banking. This refers to the ability to do your banking not just from your home computer but also from your cell phone or smartphone via text or mobile browser. Mobile banking can be a very convenient service for customers who travel extensively and want the option of accessing their online account from virtually anywhere.
If mobile banking is a service you are interested in, check out the eMobile Banking video on our website to understand more about the services that are available.
Here are suggestions to get started:
1. Visit with a Reliabank employee or go to our website to find out if internet banking is for you. There is no charge for using internet banking or bill pay.
2. To learn more about Reliabank's internet banking, bill pay and eMobile banking products, we encourage you to visit our Online Education Center. Here you will find video tutorials that explains all features of our products, including multifactor security.
3. Learn as much as you can upfront about how to bank safely online. Reliabank's Identity Theft protection video contains a wealth of information for anyone that uses email or surfs the internet.
Michael Benardo, Chief of the FDIC's Cyber Fraud and Financial Crimes Section suggests that you should secure your own computer by installing and automatically updating antivirus software and firewall protection, because while most banks prevent unauthorized access by using 'encryption' to scramble account numbers and other private information, you still need to take your own precautions.
Thursday, December 29, 2011
Wednesday, October 19, 2011
What to Toss and When
Bank statements, credit card bills, canceled checks and other documents can be useful for tax purposes, as proof of a transaction or payment, or for other reasons. But how long should you keep them?
FDIC Consumer News can't tell you when it's safe to throw away financial documents. One thing to remember, though, is that federal tax rules require you to have receipts and other records that support items on a return for as long as the IRS can assess you additional tax.
"In very general terms, because the IRS has about six years to assess additional tax if you underreported your income by more than 25 percent, many tax advisors recommend holding all tax records for about seven years, building in extra time for any unforeseen delays in processing your return," said Rick Cywinski, an FDIC tax policy manager. He also noted that the tax period is unlimited if the IRS suspects fraud.
With tax considerations in mind, here are suggestions that may be reasonable for many people.
Credit card and bank account statements: Save those with no tax significance for about a year, but those with tax significance should be saved for seven years.
Canceled checks: Those unrelated to anything you claimed on your income tax form and not needed to show you've paid a bill or debt probably can be destroyed after you've verified that your bank statement is correct. But canceled checks that support your tax returns, such as charitable contributions or tax payments, probably should be held for seven years.
And, you may want to keep indefinitely any canceled checks and related receipts or documents for a home purchase or sale, renovations or other improvements to a property you own. But once a home has been sold and another seven years have passed, checks related to renovations or improvements can be destroyed.
Of course, many banks no longer send cancelled checks, although they may provide copies of the originals. "You can keep the copies of your tax-related checks if you get them from your bank, but if you don't get copies with your statement, you have some options," said Evelyn Manley, a Senior Consumer Affairs Specialist at the FDIC.
"The most conservative approach is to order copies of important checks soon after your statement arrives," she said. "Another is to keep the information on your bank statement to order copies if you're audited in the future because, in general, banks that do not return original checks to customers are required to keep copies of checks for seven years."
Also, she said, if you keep records electronically, be sure to back up your data. You can store it in various ways (on CDs, flash drives and so on), but as old technology is no longer supported, you will need to transfer your old data to new media. Another option is to research different companies that provide backup storage online, either free or for a small charge.
Deposit, ATM, credit card and debit card receipts: Save them until the transaction appears on your statement and you've verified that the information is accurate. You may make an exception for receipts for expensive items. If they are under warranty or you have to file an insurance claim, the receipt may be helpful.
Finally, before tossing away any document that contains a Social Security number, bank account number or other personal information (especially financial information), SHRED IT to avoid becoming a victim of identity theft.
For additional guidance on what records to toss and when, ask your accountant, attorney or another trusted advisor.
*Article from FDIC Consumer News
FDIC Consumer News can't tell you when it's safe to throw away financial documents. One thing to remember, though, is that federal tax rules require you to have receipts and other records that support items on a return for as long as the IRS can assess you additional tax.
"In very general terms, because the IRS has about six years to assess additional tax if you underreported your income by more than 25 percent, many tax advisors recommend holding all tax records for about seven years, building in extra time for any unforeseen delays in processing your return," said Rick Cywinski, an FDIC tax policy manager. He also noted that the tax period is unlimited if the IRS suspects fraud.
With tax considerations in mind, here are suggestions that may be reasonable for many people.
Credit card and bank account statements: Save those with no tax significance for about a year, but those with tax significance should be saved for seven years.
Canceled checks: Those unrelated to anything you claimed on your income tax form and not needed to show you've paid a bill or debt probably can be destroyed after you've verified that your bank statement is correct. But canceled checks that support your tax returns, such as charitable contributions or tax payments, probably should be held for seven years.
And, you may want to keep indefinitely any canceled checks and related receipts or documents for a home purchase or sale, renovations or other improvements to a property you own. But once a home has been sold and another seven years have passed, checks related to renovations or improvements can be destroyed.
Of course, many banks no longer send cancelled checks, although they may provide copies of the originals. "You can keep the copies of your tax-related checks if you get them from your bank, but if you don't get copies with your statement, you have some options," said Evelyn Manley, a Senior Consumer Affairs Specialist at the FDIC.
"The most conservative approach is to order copies of important checks soon after your statement arrives," she said. "Another is to keep the information on your bank statement to order copies if you're audited in the future because, in general, banks that do not return original checks to customers are required to keep copies of checks for seven years."
Also, she said, if you keep records electronically, be sure to back up your data. You can store it in various ways (on CDs, flash drives and so on), but as old technology is no longer supported, you will need to transfer your old data to new media. Another option is to research different companies that provide backup storage online, either free or for a small charge.
Deposit, ATM, credit card and debit card receipts: Save them until the transaction appears on your statement and you've verified that the information is accurate. You may make an exception for receipts for expensive items. If they are under warranty or you have to file an insurance claim, the receipt may be helpful.
Finally, before tossing away any document that contains a Social Security number, bank account number or other personal information (especially financial information), SHRED IT to avoid becoming a victim of identity theft.
For additional guidance on what records to toss and when, ask your accountant, attorney or another trusted advisor.
*Article from FDIC Consumer News
Tuesday, October 11, 2011
Free Checking & Round UP Wednesdays!
Is your bank jacking up its fees on your checking account?
Now is the time to Move Your Money
If you haven't already heard, Bank of America, Well's Fargo, and Chase have all begun charging monthly fees for using debit cards. And swiping these debit cards is causing consumers to rack up some serious monthly fees at these larger banks.
The fees are to help big regional banks (over $10 billion) make up revenue after the Durbin Amendment and the Dodd Frank Act restricted ways banks make money. But as a locally owned community bank, we are not affected by these regulations and can continue to offer our customers all the products and services of these big banks but without the fees.
PLUS we are also giving BACK to our customers, during Round-UP Wednesdays! That's right, each Wednesday from October 5-November 23 we are rounding UP deposits to the next dollar!
Giddy on over to Reliabank to see what we can offer you!
Now is the time to Move Your Money
If you haven't already heard, Bank of America, Well's Fargo, and Chase have all begun charging monthly fees for using debit cards. And swiping these debit cards is causing consumers to rack up some serious monthly fees at these larger banks.
The fees are to help big regional banks (over $10 billion) make up revenue after the Durbin Amendment and the Dodd Frank Act restricted ways banks make money. But as a locally owned community bank, we are not affected by these regulations and can continue to offer our customers all the products and services of these big banks but without the fees.
PLUS we are also giving BACK to our customers, during Round-UP Wednesdays! That's right, each Wednesday from October 5-November 23 we are rounding UP deposits to the next dollar!
Giddy on over to Reliabank to see what we can offer you!
Wednesday, September 21, 2011
99 Days of Summer Comes to an End
We were thrilled to once again be the $5,000 cash sponsor for the KXLG radio 99 Days of Summer event. KXLG window stickers were distributed to people all over NE South Dakota, people placed them in their vehicle window hoping to get "ticketed" by a radio station employee, if the did, their name then went into a drawing. If thier name was drawn live on-air, they had 99 seconds to call in and get qualified for the big cash drawing.
The evening of September 15, marked the ending to another successful summer event. Reliabank hosted 99 qualifiers and their friends and family for the big drawdown held at 6:15pm. Our parking lot was buzzing with excitement and great food from the Popcorn Shoppe and County Fair Food. Watertown Confectionary supplied chocolate candy bars to all the qualifiers wishing them good luck in the drawing. Marilyn Nipe of Watertown was the last name chosen from the barrel of qualifiers, and was the $5,000 winner!
Thank you to all who particpated we'll see you next year for the big drawing!
The evening of September 15, marked the ending to another successful summer event. Reliabank hosted 99 qualifiers and their friends and family for the big drawdown held at 6:15pm. Our parking lot was buzzing with excitement and great food from the Popcorn Shoppe and County Fair Food. Watertown Confectionary supplied chocolate candy bars to all the qualifiers wishing them good luck in the drawing. Marilyn Nipe of Watertown was the last name chosen from the barrel of qualifiers, and was the $5,000 winner! 
Reliabank and KXLG also held a food drive "Feed the Need" for the Watertown Food Pantry. Qualifiers were asked to bring in non-perishable food items and for every 5 items they donated, they received a ticket into a separate $500 drawing. We collected over 700 items that evening!!
Thank you to all who particpated we'll see you next year for the big drawing!
Wednesday, August 31, 2011
Helping Small Businesses Streamline Finances
Reliabank is excited to now offer VISA business credit cards to it's Visa line of products.
By applying for and using your community bank card, you can always count on personal service and hometown convenience along with worldwide acceptance.
With a 0%APR (annual percentage rate) introductory rate for six months, no cost balance transfer and no annual fee, this card means business!
Choose from either the Platinum Edition - recieve our most competitive APR and use the card for all you business purchases or the Platinum Rewards - that offers ScoreCard Bonus points for every qualifying dollar you spend.
Let Visa Business help you easily and effectively streamline your finances—so you can focus on running your business.
You mean business
And so does your Reliabank Visa Business credit card.
With purchasing convenience, cost savings, available credit, and detailed reporting, you’ll have what you need to nurture your small business and help it thrive. Let Reliabank help!
Click Here to Apply
By applying for and using your community bank card, you can always count on personal service and hometown convenience along with worldwide acceptance.
With a 0%APR (annual percentage rate) introductory rate for six months, no cost balance transfer and no annual fee, this card means business!
Choose from either the Platinum Edition - recieve our most competitive APR and use the card for all you business purchases or the Platinum Rewards - that offers ScoreCard Bonus points for every qualifying dollar you spend.
Let Visa Business help you easily and effectively streamline your finances—so you can focus on running your business.
You mean business
And so does your Reliabank Visa Business credit card.
With purchasing convenience, cost savings, available credit, and detailed reporting, you’ll have what you need to nurture your small business and help it thrive. Let Reliabank help!
Click Here to Apply
Monday, August 15, 2011
Is Mobile Banking Safe?
We recently announced the addition of eMobile banking to our product line-up at Reliabank. Many customers have taken to it as easily as online banking from a computer, while some still hold out on the fear of being hacked and that their financial information would be available for anyone to see. We would like to put these fears to rest.
First, what exactly is eMobile Banking?
eMobile banking is simply banking from your cell phone or smart phone. It makes shopping easier by allowing you to check your balance before you commit to a high priced item or overspending on some new must-have item. You can check your balance using your phone, and maybe make a quick transfer between accounts if necessary. But if you access your bank account information on your mobile phone, are you jeopardizing the security of your checking and savings accounts?
No, says Phil Blank, the managing director of security, risk and fraud at Javelin Strategy and Research -- not as long as you exercise some basic online street smarts.
Here is what you need to do to be sure the transactions you make using a smartphone are safe:
Do . . .
•Stick to your bank's mobile banking featuring; at Reliabank we've taken the necessary steps to minimize any risk to your accounts, whether you access them on your mobile phone or from your computer. eMobile Banking offers the same high level of security as our Online Banking platform, allowing you to bank anywhere using your mobile phone, 24 hours a day, 7 days a week. It's completely safe and secure.
•Treat your smartphone as if it's a PC. What a smart phone really is is a PC that happens to make phone calls. If you look at your phone that way, you're minimizing your risks. For instance, install antivirus software on your phone as you would on your PC.
•Monitor the whereabouts of your phone. One big difference between your smartphone and your desktop computer is that the latter is much less likely to fall out of your pocket or purse. Check every so often to make sure your smartphone is on you when you're out and about.
Don't . . .
•Use public Wi-Fi access to conduct your banking business. You can't be sure it's secure. Opt for wireless networks that require a network security key or have some other form of security.
•Leave the keys in plain sight. Never send a text message on your phone containing sensitive information such as your Social Security number, checking or savings account number, or your account passwords. We don't give the customer the option to store anything sensitive on their phone. That's for your own protection.
•Be fooled by emails or text messages asking for personal information. Often, these "phishing" messages claim to be from your bank and ask for personal information or ask you to click on provided links to update account information. We would never ask you to provide your ID or password in an email, on your computer or over your cell phone.
Using your phone to bank on the go can be a great convenience. As long as you're smart about it, there's no reason you shouldn't use eMobile banking.
To find out more about Reliabank's eMobile banking, visit our online demo for more info.
Parts of this article: MoneyRates.com.
First, what exactly is eMobile Banking?
eMobile banking is simply banking from your cell phone or smart phone. It makes shopping easier by allowing you to check your balance before you commit to a high priced item or overspending on some new must-have item. You can check your balance using your phone, and maybe make a quick transfer between accounts if necessary. But if you access your bank account information on your mobile phone, are you jeopardizing the security of your checking and savings accounts?
No, says Phil Blank, the managing director of security, risk and fraud at Javelin Strategy and Research -- not as long as you exercise some basic online street smarts.
Here is what you need to do to be sure the transactions you make using a smartphone are safe:
Do . . .
•Stick to your bank's mobile banking featuring; at Reliabank we've taken the necessary steps to minimize any risk to your accounts, whether you access them on your mobile phone or from your computer. eMobile Banking offers the same high level of security as our Online Banking platform, allowing you to bank anywhere using your mobile phone, 24 hours a day, 7 days a week. It's completely safe and secure.
•Treat your smartphone as if it's a PC. What a smart phone really is is a PC that happens to make phone calls. If you look at your phone that way, you're minimizing your risks. For instance, install antivirus software on your phone as you would on your PC.
•Monitor the whereabouts of your phone. One big difference between your smartphone and your desktop computer is that the latter is much less likely to fall out of your pocket or purse. Check every so often to make sure your smartphone is on you when you're out and about.
Don't . . .
•Use public Wi-Fi access to conduct your banking business. You can't be sure it's secure. Opt for wireless networks that require a network security key or have some other form of security.
•Leave the keys in plain sight. Never send a text message on your phone containing sensitive information such as your Social Security number, checking or savings account number, or your account passwords. We don't give the customer the option to store anything sensitive on their phone. That's for your own protection.
•Be fooled by emails or text messages asking for personal information. Often, these "phishing" messages claim to be from your bank and ask for personal information or ask you to click on provided links to update account information. We would never ask you to provide your ID or password in an email, on your computer or over your cell phone.
Using your phone to bank on the go can be a great convenience. As long as you're smart about it, there's no reason you shouldn't use eMobile banking.
To find out more about Reliabank's eMobile banking, visit our online demo for more info.
Parts of this article: MoneyRates.com.
Monday, August 8, 2011
WHITE CHRISTMAS Performance at SF Pavilion
Sunday, November 6
Just in time for the holidays, a classic holiday tale takes the stage at Washington Pavilion in Sioux Falls.
After leaving the Army after W.W.II, Bob Wallace and Phil Davis team up to become a top song-and-dance act. Davis plays matchmaker and introduces Wallace to a pair of beautiful sisters (Betty and Judy) who also have a song-and-dance act. When Betty and Judy travel to a Vermont lodge to perform a Christmas show, Wallace and Davis follow, only to find their former commander, General Waverly, is the lodge owner. A series of romantic mix-ups ensue as the performers try to help the General. Its the perfect show to warm you up this winter just in time to start the Holiday Spirit!
White Christmas is a merry play for the whole family!
We have 40 reserved seats in front section of Orcherstra seating!
Cost: $90/GC member; $105 non-member.
Includes transportation and ticket to show. Pick up in Watertown and Estelline (more stops if needed). We'll stop for pie/coffee on the way home after show (on your own).
Contact Joyce at 605-886-7700 or Lisa at 605-873-2261 to reserve your seats today!
Just in time for the holidays, a classic holiday tale takes the stage at Washington Pavilion in Sioux Falls.
After leaving the Army after W.W.II, Bob Wallace and Phil Davis team up to become a top song-and-dance act. Davis plays matchmaker and introduces Wallace to a pair of beautiful sisters (Betty and Judy) who also have a song-and-dance act. When Betty and Judy travel to a Vermont lodge to perform a Christmas show, Wallace and Davis follow, only to find their former commander, General Waverly, is the lodge owner. A series of romantic mix-ups ensue as the performers try to help the General. Its the perfect show to warm you up this winter just in time to start the Holiday Spirit!
White Christmas is a merry play for the whole family!
We have 40 reserved seats in front section of Orcherstra seating!
Cost: $90/GC member; $105 non-member.
Includes transportation and ticket to show. Pick up in Watertown and Estelline (more stops if needed). We'll stop for pie/coffee on the way home after show (on your own).
Contact Joyce at 605-886-7700 or Lisa at 605-873-2261 to reserve your seats today!
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