What to do if your State Bank debit or credit card gets lost, stolen or has fraudulent charges:
Use your Visa debit card or Visa credit card with confidence wherever you shop. You have zero liability on unauthorized purchases if you notify the bank in a timely manner.
Lost or Stolen Cards
If you believe your Card and/or PIN has been lost or stolen tell us AT ONCE. Contacting us by phone is the best way of keeping your possible losses down. If you tell the bank within 2 business days, you can lose no more than $50. If you do NOT tell the bank within 2 business days after you learn of the loss or theft of your Card or PIN, you could lose as much as $500 if we can prove we could have stopped the transactions.
In many instances when a child turns 18 and leaves home to go to college they realize that they don't know much about finances. They don't learn about finances in school so it mostly falls to the parents to teach them the importance of managing their money. Luckily, parents can start early when the child is young. How early can you start teaching your child? There really is no specific age however, the opportunity to teach about money
Courtesy of FTC.gov
Many people find it easy and convenient to use credit cards and ATM or debit cards. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you to use if your cards are lost or stolen.
Limiting Your Financial Loss
Report the loss or theft of your credit cards and your ATM or debit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. It's a good idea to follow up your phone calls with a letter. Include your account number, when you noticed your card was missing, and the date you first reported the loss.
A health savings account (HSA) is a tax-favored savings account created for the purpose of paying medical expenses.
- Tax-deductibleContributions to the HSA are 100% deductible (up to the legal limit) — just like an IRA.
- Tax-freeWithdrawals to pay qualified medical expenses are never taxed.
- Tax-deferredInterest earnings accumulate tax-deferred, and if used to pay qualified medical expenses, are tax-free.
- HSA money is yours to keepUnlike a flexible spending account (FSA), unused money in your HSA isn’t forfeited at the end of the year; it continues to grow, tax-deferred
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How does an HSA Plan Work?
An HSA works in conjunction with high deductible health insurance.Your HSA dollars can be used to help pay the health insurance deductible and any qualified medical expenses, including those not covered by the health insurance, like dental and vision care.
Any funds you withdraw for non-qualified medical expenses will be taxed at your income tax rate, plus 10% tax penalty.
Once you meet your calendar-year deductible, the health insurance pays remaining covered expenses in accordance with the terms and conditions of your particular plan. Some plans pay 100% of covered expenses after the calendar-year deductible is met.
How do I get an HSA Debit Card?
An HSA Debit card allows you the convenience of spending money from your HSA account through the use of a card. An HSA debit card can only be used at a healthcare facility or merchant. Withdrawal restrictions are also waived on HSA debit cards.
Visit any State Bank branch to fill out an application for an HSA debit card. Please visit www.sbsu.com for more information regarding the State Bank HSA Account.
HSA Debit Card,
Health Savings Account,