Protect yourself and your financial assets.
Here are some practical tips to keep you and your money safe and secure.
Financial Safety Tips
Beware of Phishing Scams
Scam artists try to scare people out of their money. As a general rule, never give information about your bank account, credit cards or Social Security Number to anyone you do not know and trust. Watch out for "special" investment opportunities that are suspicious. If you receive a questionable call, request the person's name, address and telephone number, and notify your bank or local police department as soon as possible.
- Do not respond to the email or call to the number provided. If you are unsure of its authenticity, call us -- NOT the one in the email or message -- to verify that we actually sent it and to inquire about why we need their information.
- If the email appears to be from another company or financial institution, you can forward it to the Anti-Phishing Working Group at email@example.com.
- Delete it suspicious emails from your Inbox and clean out your Deleted Items folder.
- If you have responded and provided information, contact us immediately. If the phishing comes in the form of email, you can forward it to the Anti-Phishing Working Group at firstname.lastname@example.org
Don't Get Phished
Keep Good Records
Keep records of all banking transactions. In addition to bank statements and transaction receipts, include paper copies of deposits, investments, ATM withdrawals, credit card payments, mortgage payments, car loan payments and the like. Should an error occur, these records will help you and your bank quickly resolve the problem.
Check and Double-Check
Check your bank transaction receipts against your monthly statements. If there's a discrepancy, contact Middleburg Bank immediately.
Know Your Limit
Make sure your deposit accounts are structured according to FDIC guidelines for maximum insurance protection good advice any time of the year. Remember that the FDIC insures each type of account ownership up to $250,000, so it's possible to have $1 million or more in insured funds at the same bank. If you would like to estimate the adequacy of your FDIC insurance, please click here to use the Electronic Deposit Insurance Estimator at the FDIC Web Site.
Be Cautious with Cash
Use care about how much money you keep on hand. Don't withdraw so much cash that you put yourself at risk of being robbed or losing valuable interest you could be earning.
If you feel like you have to act in a hurry, consult trusted friends and reliable financial advisors for help in examining your financial situation calmly and reasonably.
If you have any concerns, contact your local branch office.
Easy to Remember Do's & Don'ts for Investors
- Beware of unsolicited telephone calls from strangers offering get-rich-quick schemes. They promise fast profits and usually do not deliver. If an investment sounds too good to be true, it probably is. Ask yourself why such a great deal is being offered to complete strangers.
- Shy away from high pressure tactics designed to part you from your money before you have a chance to think about or investigate the investment.
- Avoid investments where the seller has little or no written information about the company or written information about past performance. Before investing ask for a company prospectus, but remember, even a prospectus is not evidence of legitimacy.
- Read all materials carefully, ask questions and check with experts.
- Be wary of investments sold on the basis of rumors or tips. Investments based on "inside information" are illegal and are designed to trick you into thinking you have the inside track.
- Have a professional (licensed stock broker, licensed investment adviser, accountant, lawyer or financial adviser) review the investment for you. Remember this is not a guarantee of success but their experience and expertise may help you navigate the complex financial marketplace.
- Depending on your choice of investment vehicle, it is wise to verify the license with appropriate governmental agencies. If the investment is equities, check with the Securities and Exchange Commission. If your investment involves commodities, call the Commodity Futures Trading Commission, or if you are planning to invest in a national franchise, you should contact the Federal Trade Commission.
- If you are planning to invest in a non-public company, contact various consumer organizations, such as the Better Business Bureau, National Fraud Information Center and American Association of Retired Persons to determine if the companies or promoters have any negative history.
- Do not purchase any investment that is offered over the Internet, through newspaper advertisements, on the radio or on television unless you check with the appropriate regulatory agency or with a licensed broker-dealer to determine if the company is licensed.
- When in doubt about a potential investment, wait. Remember, even with legitimate investments there is always the risk of losing money. If you do not understand the investment, stay away from it. Trust your instincts. A lack of understanding on your part may be caused by the fact that the investment really doesn't make any sense.