Protect yourself from credit card fraud by being aware of telephone scams targeting your card data. An Arvest associate shared a story with me recently about a common type of telephone scam designed to obtain personal data and credit card information:

"This week our home received a second phone call leaving a message about our credit card. It implied that we should call them as soon as possible about our rate. Out of curiousity, I called the number to make an inquiry. When I made contact with a live representative, they did not answer the phone call with the bank's name or card carrier's name (first red flag). They could not answer questions about who my credit card was with (second red flag), what processor I used, etc.  They ultimately hung up after I asked these series of questions."

This associate was a target of a common type of telephone scam, made more believable due to the call back number and the "live" agent.   Her familiarity with scams and asking the right questions protected her in this situation.

There are some important tips to remember to detect a fraudulent attempt to obtain you card information:

• If you get a phone call or a message left from someone claiming to be your bank or card company, you may not want to call the number provided.  Instead, call the customer service number from your bank's statements or website to initiate the follow-up call.
• If you do call back, offer up no information about your card number, card pin, or recent transactions. Ask them questions they should be able to answer if they are your real card provider.
• Hang up immediately if you feel uncomfortable, if they are pressuring you to provide information or are threatening in tone.
• If you or a family member suspect they have given information as a part of a scam or questionable phone call, please contact your bank or card issuer immediately.

The Federal Trade Commission has a great resource for consumers that has more information on telephone, internet and all types of scams.  Take a moment to reference this information to become more familiar with how to prevent falling victim to fraudulent activities.

Did you know that we have an enhanced credit card for businesses to use for their purchasing needs? That’s right, we do! For several years we have offered business our Corporate Card, but in 2008, we rolled out the Arvest Purchasing Card, with great success. 

Today, more than ever, businesses are trying to manage their cash position, control expenses and look for ways to become more efficient. Our Corporate or Purchasing Card can help in each of these areas. 

“I received an e-mail that said if you are at an ATM and wish to report a potentially dangerous situation, you can enter your pin number backwards to alert the police.  Is this true or just an urban myth?”

This is a great question and a common urban myth about ATMs. If you use the internet, you have probably been exposed to a number of these urban myths through e-mail chain letters. The truth is, this is completely false. Financial institutions in the United States, including Arvest Bank, have not deployed any technology of this sort to date. Entering your PIN backwards will result in nothing more than a denial of your transaction.

An even bigger obstacle to this solution would be numbers that are the same, regardless of which way they were entered.  4884, 1441, 0880, etc.  Customers select their own PINs privately so there would be no way to prevent these instances.

Snopes.com, a website dedicated to researching and debunking urban myths provides what they believe to be the explanation behind the myth.  A system similar to the one mentioned was envisioned in 1994 and patented in 1998 by Joseph Zingher, a Chicago businessman. However, Zingher had very little success in interesting financial institutions in his design and therefore this system was never implemented.

Although entering your PIN backwards is a myth, there are things you can do to help ensure your security at an ATM:

• Perform your ATM transactions in a well-lit, public location free of shrubbery or partitions which may restrict view of your surroundings

• Do not access the ATM for your transaction if someone appears to be crowding you or trying to see you enter your PIN

• Maintain constant awareness of your surroundings throughout the entire transaction

• Never count cash at the machine or in public, but wait until you are in a secure location

• When using a drive-up ATM from a vehicle, keep your engine running, your doors locked and leave enough room to maneuver between your car and the one ahead of you in the drive-up line

• Always monitor your account with web banking or mobile banking to watch for unauthorized transactions, and report these to the bank immediately
 

Most of our locations affected by the power outages and ice storm have reopened.  There are a few updates below.  Almost all Arvest locations will return to normal operating hours today. As new information becomes available we will update the list of affected locations below:

Friday, January 30

Lincoln, AR - Branch is closed until power restored

Lead Hill, AR - Branch is closed until power restored

Flippin, Bull Shoals, Harrison, Yellville, Mountain Home, AR - Branches have reopened

Springdale, AR - 1301 E Robinson, 3950 West Sunset and Walmart Supercenter branches are closed until power is restored

More updates will be added as they become available.

Arvest Bank in Fayetteville has hosted a Martin Luther King Day reception at their downtown banking location each year since 2001.  Each year customers, associates and special guests gather to recognize the day and honor the contributions of the civil rights leader.

This year's event was highlighted with a moving speech by Dr. Merlin Augustine, essays written and read by identical twins Gemini and Genisis Torres and a performance by the Holcomb Elementary Honor Choir.

Dr. Augustine's words are available via YouTube.  (may need to turn up volume to hear)

Heartland Payment Systems, one of the nation's largest payment processors, has publicly indicated that it may have experienced a card security breach which may have compromised some debit and credit card data.  Heartland is one of the largest payment processing companies in the US, processing over 1 billion card transactions annually.  This incident impacts debit and credit card users from across the country, including some customers of Arvest Bank. 

According to a Heartland Payment Systems press release – “No merchant data or cardholder Social Security numbers, unencrypted personal identification numbers (PIN), addresses or telephone numbers were involved in the breach.” The official press release from Heartland is available on their website.

What is Arvest doing?
The security of our customers is a priority at Arvest.  We are studying this situation and its impact on our customers very closely and will take additional steps as needed.  Please be assured that our fraud-detection systems routinely monitor card activity, and attempt to identify unusual and potentially unauthorized transactions.  While our detection systems may not detect all fraud, we will immediately contact any cardholder we determine may be targeted with unauthorized transactions.  If any new information becomes available requiring further action, we will contact any affected customers.

What should bank customers do?
It is always a best practice for consumers to use web banking, mobile banking or monthly statements to monitor their account for unauthorized transactions.  In the event that a fraudulent Visa debit or credit purchase occurs on a customer’s account, they are protected by Visa’s Zero Liability* policy which means the customer pays nothing for the unauthorized purchases.  Customers should report ANY unauthorized account activity to the bank immediately.

*Visa’s Zero Liability policy covers U.S.-issued cards only and does not apply to commercial credit cards, ATM transactions or PIN transactions not processed by Visa. Cardholders must notify card issuers promptly of any unauthorized use. For more complete details, please visit  www.visa.com/security.
 

Using your Arvest CheckCard is the easiest way to make day to day purchases and is the most convenient and accepted method for making purchases online.  As an avid online shopper, I depend on my CheckCard for the majority of my online payments.

If you plan on shopping online with your Arvest Visa CheckCard or an Arvest Spending Card, I encourage you to register for Verified by Visa, a free, simple-to-use service that confirms your identity with an extra password when you make an online transaction with participating merchants. 

How it works:

1. Enroll your card online on the Arvest Verified by Visa website.
2. Shop at participating online merchants.
3. Enjoy the added security and peace of mind that your card has extra protection from fraudulent transactions

When you submit an order at a participating online store, a Verified by Visa window will appear automatically. Enter your chosen Verified by Visa password, submit, and you're done. This added step of a password you have selected prevents unauthorized users from making a purchase with your card information.   For more information, read the answers to Frequently Asked Questions about the Verified by Visa program.
 

Sign up your Arvest Visa CheckCard (debit card) HERE.

Arvest Banking On the Net will be unavailable for approximately one hour beginning at 12:00 am (cst) January 21 for routine maintenance and updates.  We apologize for any inconvenience and will work to make the maintenance period as brief as possible.   This maintenance period should have no impact on scheduled transfers or online bill payments.

Arvest's Banking On the Net is free to all Arvest customers who wish to manage their personal checking, savings and loan accounts online.

The following services are available through Banking On the Net:

• View balances, history and check images
• Initiate transfers between accounts
• Send and receive Secure Messages to an Arvest Customer Service Representative
• Submit an address change
• Reorder Checks
• Create and receive personal reminders
• Receive alerts based on account balances
• Access your e.Statement
• Access Online BillPay
• Sign up for and manage your Mobile Banking

To sign up for Banking On the Net, visit an Arvest Bank location or call Arvest Customer Service.  To view the capabilities of Arvest Banking On the Net, view the online demo.