A Smart Tool for Managing Money – at Your Fingertips: How your smartphone can help you manage money.

What can give you the latest news? Wake you up for the day? Guide you where you’re going either as a flashlight or GPS? If you guessed a smartphone, you are correct.

At a time when sales of other consumer goods and electronics are lagging, smartphones are enjoying record growth. According to IDC.com, smartphone sales around the world are expected to grow 25 percent, from 472 million people in 2011 to 630 million people in 2012.

Why wouldn’t they grow? Today’s smartphones, including BlackBerrys, Androids and iPhones, are making our lives easier in so many ways. They allow us to do convenient shopping, connect with others around the world at the touch of a button and even blow off steam by shooting birds at pigs.

They can also help simplify one of our most important tasks – managing money. According to Consumerreports.org, 39 million Americans were banking by phone in 2011. It’s proven to be a smart way for individuals and businesses to save time and manage money more conveniently.

With mobile banking and a smartphone, you can literally bring your money right to you. You can:

• Check savings and account balances
• See what checks have cleared
• Receive and set up text alerts to notify you when a specific account activity has occurred
• View loan balances and make payments
• Manage credit card accounts
• Transfer funds between internal and external accounts
• Scan check images for deposits 

R U bkg by txt?

One banking feature that’s becoming popular is text-based banking. With this feature, you can text simple commands to your bank, such as “Bal” to receive your balances or “Tra” to initiate account transfers.

A variety of apps to put you in control of your money

In addition to features available with mobile banking, smartphone providers also offer applications to help you get more out of your money. Some of the most popular applications can help you with:

• Budgeting. Wondering if you can afford that new outfit or trip? You can download applications that track your expenses and budgets for you. You can even take pictures of receipts with your smartphone. Think of how much easier that could make things at tax time.
• Shopping comparisons. Going grocery shopping? You can take advantage of apps that make it easy for you to compare prices of various brands to determine the best value.
• Income tax applications. Need assistance with your taxes? You can download apps designed to provide helpful tips and information to complete your taxes.
• Account tracking. See all your account balances, including your banking and individual credit card accounts, in one place. You can even consolidate your retirement accounts as well.

For more information on smart ways to manage your money by phone, stop by or give us a call. We’d be happy to help you stay in touch with your money.

The ABCs of E-Payments: How to protect yourself while making purchases online.

The Internet has brought about a world of convenience. You can chat with people from around the world; search and apply for jobs; and, of course, purchase goods and services with just a few clicks of the mouse. As the popularity of purchasing goods and services online continues to grow, so too do the number of methods people are using to pay for them. Though debit and credit cards are still the most popular types of electronic payments, or e-payments, other payment methods have been developed:

• Electronic money (e-money): You can’t go into a pharmacy or retailer today without noticing gift cards, which can be used online. These gift cards are examples of e-money. Another type of card is a stored-value card. These types of transactions are common with public transportation passes or telephone cards. Note that some stored-value cards can be “reloaded” at cash machines or by the merchants, while others are simply thrown away after their use. Some of these cards may also be “smart cards,” which means you can use them as either credit cards or debit cards.

• E-wallets: According to the FTC, “some Internet-based payment systems allow value to be transmitted through computers.” These are called e-wallets and are usually for making small online purchases, such as coffee or magazines. Transactions made with e-wallets may be accessed via stored value or through an online account.

Protect yourself

As with any type of electronic banking, it’s important to take steps to ensure that your money and your personal information are protected. The FTC offers these tips:

• Deal with businesses you know and trust: And make sure you’re entering personal or financial information where it should be – on an order form.
• Read the merchant’s privacy policy before you make any payment: This will help you determine what information they will need and how it will be shared with others. If you are uncomfortable with a policy, don’t make the purchase.
• Guard your personal information: Be careful when giving out your address, telephone number, Social Security number, account number or e-mail addresses. Remember that some scam artists may pose as merchants you do business with and ask for this information online. Before giving out information, contact the merchant by phone or via the website to verify that the merchant is requesting your information.
• Check your browser: Is your computer’s Internet browser, which encrypts information you send over the Internet, up to date? Be sure to check with the creator of the browser and download the latest version. Also, every time you purchase something online, watch for the lock symbol and the letters “https” in the URL of the website. These show that you have a secure connection.
• Read the fine print regarding returns and shipping: This type of information should be available on the merchant’s website.
• Never give out your password to anyone online: Also don’t choose passwords that are easy to guess, such as your address or phone number.
• Do not download files from strangers or click hyperlinks: These may contain viruses or programs that capture information in your computer.
• Watch your account activity: By monitoring your accounts, you’ll be able to detect fraud. If you notice an unauthorized transaction, report it immediately. And if your card is stolen, report it immediately.

Know your rights

According to the FTC, the Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) offer protection from the following:

• Charges or transfers that you or anyone authorized to use your account have not made
• Charges or transfers that are improperly defined or have the wrong purchase amount or date
• Mathematical or similar errors
• A creditor’s failure to properly reflect payments, credits or electronic fund transfers
• A creditor’s failure to deliver credit billing statements to your current address, provided you sent written notice of your address 20 days before the billing period ended
• Credit charges or electronic fund transfers for which you have requested an explanation or documentation due to possible error

Learn more

If you have any questions about your account activity or making online payments and purchases, contact us – we’d be happy to help.

Benefit from Using Mobile Banking with your Cell Phone

You can access your accounts, pay bills, and make cash transfers with ease through your cell phone.

If you’re already banking online, just enroll in Mobile Banking to take even more control of your money.

Take charge of your money by monitoring your accounts when you are on the go. All you need is a cell phone, bank account, and online banking to get started. Mobile Banking allows you to simply and securely:

• View balances and make transfers between accounts
• Pay bills anywhere, anytime
• Locate branch offices and ATMs
• Send SMS text message inquiries to quickly check the state of your accounts>

With Mobile Banking, your information is fully secure.

With multiple layers of authentication, you’ll never have to worry about the wrong people getting your information. A personal password and phone activation code keep your information safe.

Mobile Banking keeps you in control.

Mobile Banking is the ultimate on-demand service. With it you can monitor your accounts using your mobile phone and even transfer funds whenever you need to, wherever you happen to be. You decide how you’ll use it!

While message and data rates may apply, you don’t need Internet access on your phone to take advantage of Mobile Banking.

We understand you’re on the move. That’s why offering you another way to check your balances and transfer funds when you find time in your busy day, from wherever you are, makes sense. We encourage you to stop by or visit us at www.northshorebank.com to learn more about how you can take advantage of this safe and easy to use tool.spanYou can take a tour of Mobile Banking on our website!

Three Ways to Store eStatements: Take advantage of technology that lets you better monitor and organize your finances.

According to a 2010 article on DailyFinance.com, a study conducted by Javelin Strategy and Research found that 62 percent of individuals who switched to eStatements said that they preferred the digital version to a traditional paper statement because it was easy to access online.

These results aren’t surprising, since going through months’ or years’ worth of paper statements looking for one small charge can be daunting. The use of eStatements is a paper-free solution to account-activity tracking that is better not only for organization and management, but also for the environment. It can be a more secure way to receive sensitive information and make operations less expensive, as well.

Simplified financial organization tools still, however, require a reliable storage system. Individuals receiving eStatements must track and organize their statements so that they have quick access to them, even if they’ve moved on to another financial institution. Here are three easy ways to store your eStatements:

1. Desktop folder. You can create a folder on the desktop of your computer for quick and easy eStatement storage. Every month when your statement is issued, simply download a copy and save it to the folder. Make sure that you add this folder to your normal system backup procedure so that the data isn’t lost in the event of a hard drive failure or other problem. If other individuals have access to your computer, make sure you password-enable the folder.

2. Password-protected flash drive. If you want your statements to be portable, use a password-protected flash drive to hold your statements as you download them. Because passwords can be hacked, it is important that you keep the drive in secure locations only.

 3. CD-ROM. You can burn the statements onto a CD-ROM and then password-protect access to it. If you buy rewritable CDs, you can continue adding new statements until they no longer fit. It is important, as with a flash drive, that you keep the discs in a safe place and label them properly.

Off-site storage isn’t always vital for your electronic records, especially because your financial institution will generally archive past statements. Check with your financial institution to find out the length of time that it archives your statements. Depending on the product (checking account, credit card, student loan, for example) the length of time generally ranges between two and seven years.

Electronic statements provide you with quick, easy access to your financial information, in a form that offers greater durability and security and less impact on the environment. Speak with a representative today or visit our website to learn more about our electronic statement options.

Take a tour of Mobile Banking!

If you’re already an Online Banking subscriber, simply log into your North Shore Bank account and enroll in Mobile Banking through the Options menu.  All you’ll need to get started is a free Online Banking account to get started. When you are on the go, Mobile Banking allows you to securely:

• View balances and make transfers between accounts.

• Pay bills anywhere, anytime.

• Locate North Shore Bank offices and ATMs.

• Send SMS text message inquiries to quickly check the state of your accounts

Take a test drive now.