Credit card junk mail - How to stop credit card mail offers.

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Stop credit card offers...

• Reduce the number of credit card mail offers, insurance and other financial products you are receiving by calling toll-free 888-5-OPTOUT (1-888-567-8688) to remove your name from mailing lists used by national major credit card issuers and other institutions.

• By taking advantage of services offered by the Direct Marketing Association, you can further reduce or stop credit card mail offers as well as phone calls from national advertisers. For more information, write to DMA Consumer Affairs, 1111 19th Street, NW, Washington, DC 20036, or go to dmaconsumers.org. To be removed from marketing lists at local businesses, contact them directly.

• Don't give out personal details (such as your income or buying habits) to people or businesses who ask for it unless you know and approve of how that information will be used.

• Be watchful of free offers such as contest drawings. Many will place your mailing address on credit card mail lists or other types of marketing.

Your Financial Privacy Rights
You can limit the personal information that banks and other financial institutions provide to other companies. Here's help for you in deciding what's best.

The federal Gramm-Leach-Bliley Act of 1999 created a new opportunity for you to limit the transfer of your personal financial information. The law attempts to balance your right to privacy with financial institutions' need to share information for normal business purposes. Some consumers don't object to information sharing, they want their names on mailing and telephone lists so they can easily find out about new products and services. But other consumers want fewer solicitations and more privacy. If you're in the latter category, you have some important new responsibilities if you want to take advantage of your new rights.

It's important that you read the mail you receive from your bank and other financial institutions. The law requires these companies to explain how they use and share your personal information. The law also allow you to stop or 'opt out' of certain information sharing. "You need to be observant," says Ken Baebel, Assistant Director of the FDIC's Division of Compliance and Consumer Affairs. "You need to look for the privacy notices from your financial institutions, which may come as part of a monthly statement or as a separate mailing. You also need to understand whether an institution intends to share personal information with other companies and, if so, what you can do to prevent information sharing, if that's what you want. Otherwise, it will be up to the institution to decide who gets details about you and your finances."

The new law applies to many types of financial institutions. The law covers banks, savings and loans, credit unions, insurance companies and securities firms. It even includes some retailers and automobile dealers that collect and share personal information about consumers to whom they extend or arrange credit. Also, while the rules from the FDIC and other federal agencies say these notices to consumers must be accurate, clear and conspicuous, we know there's a lot to consider before you decide what's best for you. That's why FDIC Consumer News has developed the following question-and-answer format to help you understand your new rights to financial privacy and what you need to do to exercise those rights.

Personal information financial institutions collect and share:
Many financial institutions collect information about their customers as a regular part of their business of providing products or services. Examples: When you apply for a loan, you provide your name, phone number, address, income, and details about your assets. When the institution is considering your application, it may collect additional details from other sources, such as credit reports prepared by credit bureaus. And as you use a financial product—a credit card, for example—your institution will have a record of how much you buy and borrow, where you like to shop, and whether you repay your balance on time. Some (but not all) financial institutions share this information with other entities—including completely unaffiliated companies such as retailers, telemarketers, airlines and non-profit organizations—to help them target consumers who might be interested in their products or programs.

How the Gramm-Leach-Bliley Act protects financial privacy:
First, the law requires each financial institution to tell its customers about the kinds of information it collects and the types of businesses that may be provided that information. This disclosure, called the privacy notice, is intended to help you decide whether you are comfortable with that information-sharing arrangement. The law went into effect July 1, 2001, and you should have received a privacy notice from any financial institution where you already had an account. Anytime you open a new account with a different financial institution you must be given a copy of the privacy notice at that time. Financial institutions also are required to send a privacy notice to their customers once a year.

Second, the law says that if your financial institution intends to share your information with anyone outside its corporate family, it also must give you the chance to "opt out" or say "no" to information sharing under certain circumstances. Even consumers who are not technically customers of a financial institution—such as former customers or people who unsuccessfully applied for a loan or credit card—will have the right to opt out of information sharing with outside companies.

Third, the law requires that financial institutions describe how they will protect the confidentiality and security of your information.

What to look for when you receive a privacy notice:
We encourage you to read the entire notice carefully. You may, though, want to focus on your financial institution's descriptions of the following:

• The kind of information it shares with other parts of the same company, likely to be described as "members of our corporate family" or "our affiliates";

• The information it shares with other companies or organizations that are not part of the same corporate group as your financial institution, perhaps called "nonaffiliated third parties";

• What information you can prevent your financial institution from sharing with other companies or organizations; and

• How you go about opting out, if that's what you want to do.

Does the privacy notice list exactly what information the financial institution wants to share, and with whom?
No. The regulations say the privacy notice must describe the basic categories of information a financial institution collects and shares with other entities, and give examples. But a financial institution is not required to list every type of information it may gather or share, or tell you the names of specific companies or organizations that may buy or receive your information. If you have questions or concerns, contact your financial institution at the address or phone number listed in its privacy notice.

Information you can stop an institution from sharing:
You have a general right to block the sharing of non-public personal information with outside companies and organizations, but there are exceptions (as explained in the next question and answer). Also, your institution may remind you that a law passed several years ago, the Fair Credit Reporting Act, gives you limited rights to stop selected information-sharing with affiliates.

Information you can't prevent from being shared, even if you opt out:
Under the new law, you cannot bar an institution from providing personal information to outside companies and organizations if, for instance:

• The information is needed to help conduct normal business. Example: Your bank can send personal information to outside firms that help market the institution's products, handle its data processing (for your loan payments, checking account statements, electronic banking transactions or credit card purchases), or mail account statements.

• The information is needed to protect against fraud or unauthorized transactions, or is provided in response to a court order.

• The institution reasonably believes the information is "publicly available." Robert Patrick, an FDIC consumer law attorney in Washington, explains that publicly available information "includes your name, address, and telephone number as they appear in the telephone book, information about your home mortgage recorded in county records, or information that would be found on your driver's license if that information is available from your state's department of motor vehicles."

• The information is used as part of a "joint marketing agreement." That's a situation in which two or more financial institutions—say, a bank and insurance company—agree to jointly offer, endorse or sponsor the same products or services.

In addition, the Fair Credit Reporting Act says an institution has a right to give an affiliate any information obtained from your transactions with that institution. Example: Your bank can give an affiliated insurance company details about your deposit accounts. This could be useful information if, say, the insurer wants to offer you an annuity as an investment when one of your CDs is about to mature. Even though you cannot prevent this information from being shared, the bank still must tell you about these practices in its privacy notice.

How to decide if you should opt out:
It depends on how the information is shared... and it depends on your viewpoint. If a financial institution widely shares your personal information with other businesses, you'll get more mail, phone calls or other unsolicited promotions than if you decide to opt out. Some consumers see information sharing as a plus because it helps them shop from home or find out about new products and services, including potentially good deals on a new loan, insurance policy or investment. Other consumers say they don't want so many solicitations from telemarketers and mail advertisers, and they don't want a lot of other businesses and people knowing about their finances or spending habits. You must decide what's best for you.

"If you opt out, your bank will still be able to share personal information about you with outside entities in certain circumstances, but you will be putting a limit on at least some information sharing," adds the FDIC's Patrick. "If you don't opt out, your bank can sell information about you to any business or person, and there are few restrictions on how that information might be used."

The FDIC's Baebel suggests that you review your institution's privacy notice and "ask yourself if you're comfortable with the types of businesses receiving your personal information, and with what they are likely to do with the information." If you have questions or concerns, he says, contact your institution. "Banks and other financial institutions are interested in maintaining good customer relations," Baebel adds. "They should be more than willing to explain how they use your information, how they protect that information, and the circumstances in which they share information with other businesses or people."

Copies and ability to correct information errors prior to optout
The Gramm-Leach-Bliley Act doesn't require your bank to give you access to the information it collects or a chance to make changes. However, if you have concerns, you can ask your bank if it will voluntarily let you see your personal records and comment on their accuracy. Banks do let customers review their personal information under certain circumstances.

Do you have to notify an institution in a certain way?
Yes, most likely. That's because the institution can establish a procedure that everyone must use to opt out, provided that it is reasonable. So, be sure to check the instructions that come with your privacy notice. For example, your bank may require you to call a certain telephone number, not just any number at the bank. Or, it may require you to complete a form and mail it to a specific address. Patrick adds that "even if you call the bank to opt out, it's a good idea to also notify it in writing and to keep a copy of your written notice for your records."

If you opt out later:
You can always opt out, even months or years from now. But, be aware that any opt-out request only covers the sharing of information in the future. There is no requirement that a financial institution contact the organizations it has already shared your information with and tell them they cannot use that information any more.

Joint account opt outs:
If the bank sends separate notices to each account holder, each person can choose for himself or herself. However, because the rules allow banks to provide a single opt-out notice when two or more customers have a joint account, it's important to pay attention to what the bank says about opt-out requests. If, for example, the bank sends separate notices to two owners of a joint account and only one of them responds, the bank may continue sharing the other person's information. "If you receive an opt-out notice from a bank where you have a joint account, be sure to discuss that information with the other people who share that account with you," Patrick says. "That way, if any of you decide to opt out, you can do so properly."

Your right to financial privacy is important. And thanks to the privacy law, you now have more of a say in how much of your information financial institutions may share with other companies. It's up to you to take advantage of these protections. Watch for the privacy notices from your financial institutions, read them carefully and follow the instructions if you decide to exercise your right to opt out.

Debt

Debt concerns are usually pushed aside until the beginning of each year, but evaluating how much debt you really have is important any time of the year. What you should not do when in debt, is accumulate additional debt when already burdened with out of control bills. To be able to start working on getting debt relief, all debts should be listed to get a total amount owed. Some people do not stop to consider just how much in debt they really are, and they may not know how far in debt they are.

To become debt free, it is necessary to identify all debts and work on a plan to eliminate them one by one for more stress free living. Waiting until the beginning of a new year,  may just cause more late fees, more phone messages from bill collectors, and more financial stress. One good step is simply to not add any new bills or make any new charges on credit cards in an effort to stop making any new debts. Just a few dollars or more over the minimum required payment is the next best way to begin taking control.

Consider cutting out entertainment like renting, buying, or going to the movies and eating out. Ditching just these two areas alone could give a hundred or more dollars toward paying off small debts or paying down large bills. It can be hard but worth it for a while. Try entertaining friends at home and have less expenses. Better yet, establish a weekly activity, like playing games and rotate homes to feel like you are getting out of the house. It can soon become a habit that you may look forward too and enjoy while saving money. 

Setting goals to pay off specific debts can help keep you on track, and once you begin paying more toward balances it soon becomes easier. There is pride in knowing you are getting control of debts. Make a budget and stay on it and watch the bills reduce with each payment. Think twice before spending money on wasteful items. Keep your goals of paying down specific bills in view to help motivate you. Getting out of debt has to begin with a first step. Cutting out needless spending is the first place to begin to have more money.

Review Disclaimer: Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
 

IBC.com Review - © 2011 IBC Bank

IBC Bank is all about convenience - not just at our branches but online as well. IBC.com is always open so you can find out more about our products and services any time, day or night. Plus not only does IBC Bank Online allow you to review your account(s) and pay bills, you can also order checks, set-up alerts, issue stop payments and so much more.

We Do More Personal Banking. Nobody does more than IBC Bank to make FREE Checking convenient and economical. Just look at all we do:
* $50 opening deposit
* No monthly service charge
* No minimum balance required
* Unlimited check writing
* First 50 checks free 
* Free IBC VISA Check Card
* Free online & mobile banking
* Free IBC Voice banking
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Checking
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Saving
Savings
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IRA's

EasyLoans
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Overdraft Courtesy® Options: An overdraft occurs when you do NOT have enough available funds in your checking account to cover a transaction, but we pay it anyway. IBC can cover your overdrafts in two different ways:
1. We offer the Overdraft Courtesy Program that can be added to your account; or
2. We also offer Overdraft Transfer Protection, which is a less expensive way to cover inadvertent or occasional overdrafts. Overdraft Transfer Protection can link a secondary account to the customer’s checking account and if items post against insufficient funds on the checking account, the necessary funds are automatically transferred from the secondary account for $9.00 per daily transfer. If the secondary account is a savings account, however, federal regulation limits the automatic transfers to six per month. 

1st Choice: Opt-in/out to the Overdraft Courtesy Program: You can choose to have Overdraft Courtesy added to your checking account. If you choose to add Overdraft Courtesy it will be added to your account once it has been opened for 30 days and is in good standing. Please see the Overdraft Courtesy Disclosure for details on how an account qualifies for Overdraft Courtesy and the limits of Overdraft Courtesy.

Under IBC’s Overdraft Courtesy:
* We will charge you an overdraft fee of up to $29.00 each time we pay an overdraft. You will not be charged an overdraft fee if your ending account balance is overdrawn by $3.00 or less.
* In addition, overdraft amounts will accrue an OD interest charge at the rate of 18% per annum from the date of the overdraft until the date of receipt by Bank of repayment of such overdraft.
* IBC will charge your account a maximum of 6 overdraft fees on the same day.

If you decide to opt-out of the Overdraft Courtesy Program, the bank will not pay any item presented when you do not have enough funds. Please be aware that there is a $29 return item fee for each check or ACH payment presented, and merchants typically charge a fee for returned checks. If you use your debit card at a POS or at the ATM when you do not have sufficient funds in your account, the transaction will be declined and you will NOT be charged a fee.

If you decide to opt-in to Overdraft Courtesy to your account, you have an additional choice to make.

2nd Choice: Opt-in/out of ATM and Everyday Debit Card Transactions: Once your account has been opened a minimum of thirty days and is in good standing, we authorize and pay overdrafts on the following types of transactions:
* Check transactions
* Automatic payments (ACH)

As required by federal regulation, we will not authorize and pay overdrafts for the following types of transactions unless you ask us to:
* ATM transactions
* Everyday debit card transactions

If you decide not to have these transactions covered, the transaction will be declined if you do not have sufficient funds in your account, and you will NOT incur an overdraft charge. This may be less expensive for you than opting-in to ATM and everyday debit card transactions.

If you decide to opt-in to have ATM and every day debit card transactions authorized and paid, the transactions will be authorized and paid by the bank up to your established limit and you will be charged an overdraft fee.

IBC’s Overdraft Courtesy is a discretionary customer service that may cover inadvertent or occasional overdrafts. You should know that there are less expensive options in case of an emergency, such as Overdraft Transfer Protection, as explained above. For complete details of the Overdraft Courtesy terms please refer to the Overdraft Courtesy Customer Disclosure.

Please remember that you always have a choice, and you can change your mind at any time about having Overdraft Courtesy on your account and whether or not you want ATM and everyday debit card transactions covered by Overdraft Courtesy.

(361) 888-4000

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