In the Cards
This month all the latest and greatest in community bank products and services are available at the ICBA National Convention and Techworld, where more than 200 companies are displaying their wares. Even if you miss the Las Vegas gathering, you can still take a gamble on these products dealing with fraud, commercial customers and spendthrift students.*
IDENTITY THEFT INSURANCE
St. Paul Travelers
Reclaiming a stolen identity can be expensive and time consuming. ICBA has teamed with St. Paul Travelers to offer banks insurance coverage to help customers whose accounts have been compromised.
The coverage, available for community banks to offer to their customers and employees, reimburses policyholders for the most common out-of-pocket expenses incurred when someone is victimized by identity theft. The insurance covers lost wages, attorney fees for suits brought incorrectly against victims by merchants or their collection agencies, notary fees and certified mail charges.
Visit www.stpaultravelers.com for more information.
COMMERCIAL CHECK COLLECTION
Bounced customer checks are a headache for any small business. BSG Financial's ReSubmitIt helps community banks collect extra fee income by offering business customers a free check collection service.
When a customer's check bounces, ReSubmitIt converts it to an ACH transaction, allowing the check to be re-submitted up to two additional times. The ACH resubmissions are also timed to hit on Fridays when the account is most likely to hold funds.
ReSubmitIt also collects the state-permitted bad check fee from the customer and shares it with the bank.
Visit www.bankstrategy.com/resubmitit.asp to find out more.
Customers can't always tell the difference between a real bank Web site and one spoofed by a phisher. Not true for users of Comodo's See, Verify, Trust technology, downloadable Verification Software available at the company's site for free.
Customers will know if the site is authentic by dragging their mouse over a key. For instance, the bank's logo may become outlined in green. …