First Quarter Financial Plan: Watching Over Your Assets

posted 2/10/2014 in General

In Lincoln Savings Bank’s First Quarter Financial Plan, we’ve covered a variety of topics to help you save more, be more responsible with money and grow your wealth. Today, however, we want to touch on how to keep all of that protected and safe.
The Target hacking issue that occurred during the holidays affected an estimated 70-110 million people. It also put a spotlight on the security of financial information. In order to help you keep the success you have with the First Quarter Financial Plan, Lincoln Savings Bank is offering up tips to help you keep tabs on your accounts:
  • Check your transactions with online banking or LSB statements- LSB’s online banking system offers real-time visibility to all transactions posting to your transactional accounts, so get in the habit of logging in and verifying transactions at least once per week.  Whether you get your statements mailed or you use eStatements through your LSB Online Banking account, checking your statements each month can also help you spot any fraudulent charges.
  • Risk & Fraud Analytics protection for online banking- this extra layer of security within online banking from LSB keeps an eye out for suspicious behavior online.  If a transaction is scheduled that deviates from your normal online banking activity, it will be stopped until an LSB representative can verify the transaction is valid.
  • Falcon Fraud protection for your LSB debit card – similar to risk and fraud analytics in online banking, Falcon Fraud protection from LSB helps detect and prevent fraud on your debit card. 
  • Review your non-LSB accounts as well- you should keep tabs on any additional investments or accounts outside of LSB as well. Financial institutions are targeted by hackers, so keeping an eye on what you have stashed away for retirement is a must.  You can use LSB’s Budget Plus PFM tool to link all your external accounts in our online banking so you can monitor them securely in one spot. 
  • Know any tax implications associated with investment/retirement accounts- tax season is here. For certain accounts, not contributing/withdrawing enough or vice versa can mean a stiff penalty or money left on the table. Check with your tax advisor to be sure.
Lincoln Savings Bank wants to see you succeed, and these tips can go a long way in protecting what you’ve worked hard to attain. Be sure to watch for our blog posts next week as they will touch on tax-related topics as tax season gets underway. We hope to see or hear from you soon!
Lincoln Savings Bank, member FDIC
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