Fraud & Identity Protection

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How to Avoid a Scam: 5 Essential Steps to Protect Yourself 1. Block Unwanted Calls and Text Messages One of the most common tactics scammers use is impersonation. They may claim to represent government agencies like the IRS, Social Security Administration, or Medicare, or pose as trusted businesses, charities, or utilities. These fraudsters often manipulate caller ID to display fake names and numbers, making it seem legitimate. To minimize risk: Use tools provided by your phone carrier or third-party apps to block unwanted calls and messages. Be cautious of unsolicited communication, even if it seems familiar. 2. Protect Personal and Financial Information Scammers thrive on obtaining sensitive information through deception. Whether they claim you owe money, have won a prize, or face an urgent issue, their goal is the same: to access your details. Here’s how to avoid their traps: Never share personal or financial information in response to an unexpected request. Verify the legitimacy of any claims by contacting the organization directly using official channels. 3. Resist the Pressure to Act Immediately Scammers rely on urgency to cloud your judgment. They might demand immediate action, threaten legal consequences, or warn of impending disaster. This pressure is designed to prevent you from thinking critically. Stay safe by: Taking a moment to breathe and assess the situation. Refusing to make hasty decisions, no matter how alarming their claims may seem. 4. Recognize Suspicious Payment Requests Fraudsters often demand payment through unconventional and hard-to-trace methods like cryptocurrency, gift cards, or wire transfers. These requests are major red flags. Protect yourself by: Questioning any payment request that feels unusual or overly complicated. Refusing to share gift card numbers or send money through untraceable means. 5. Talk to Someone You Trust Scammers count on their victims feeling isolated and uncertain. Breaking their spell is often as simple as confiding in someone you trust. Here’s why it helps: Explaining the situation out loud can help you see inconsistencies in their story. Friends, family, or neighbors can provide valuable advice or reassurance. Empower Yourself Against Scams Scammers prey on fear and confusion, but with the right knowledge and habits, you can protect yourself and your finances. By blocking unwanted calls, safeguarding your personal information, resisting high-pressure tactics, recognizing suspicious payment methods, and seeking trusted advice, you can stay one step ahead. Your security matters, and we’re here to help. If you ever suspect fraudulent activity, don’t hesitate to reach out to the First Bank customer support center at 1-866-792-4357. Together, we can ensure your financial safety. 3 min read

Apply for a Personal Loan in South Carolina | First Bank If you’re looking for a personal loan in South Carolina, stop by your local First Bank. We offer highly competitive rates and flexible terms, allowing you to customize your loan based on your financial needs. Visit your local First Bank today to compare personal loan* options and find competitive rates. Tips to Apply for Personal Loan If you need to apply for a personal loan but don’t know where to start, follow these tips to help you secure the best option. Check Your Credit Score—Most lenders will require you to have a high credit score for loan qualification purposes. If your credit score isn’t high enough, consider getting a cosigner to help you qualify for the loan. Know What You Qualify For—Since applying for loans will decrease your credit score, apply only for loans you qualify for. Gather the Necessary Paperwork—Loan applications will require you to prove your annual income, monthly house payments, and employment status. Have these items on hand to simplify your loan application process. Find a Local Bank—Most local banks will give you great deals on personal loans, walk you through the loan application process, and customize the right loan for you. Personal Loan Options at First Bank First Bank offers a number of personal loans options: Personal Line of Credit—A personal line of credit allows you to borrow money instantly. In order to secure your personal line of credit, you may need qualified collateral to apply. HELOC—A home equity line of credit can give you the flexibility to consolidate debt, make a big purchase, or fund a home improvement project using the equity you’ve built up in your home. Vehicle loans—Get a competitive rate on a car or boat loan. For more information on personal loans, visit your local First Bank branch. Additional Loan Options at First Bank For other loan options, consider the following services offered by First Bank: Platinum Rewards Mastercard—No annual fee or charge for balance transfers, this card has everything you need to cover expenses, including the option to participate in a free rewards program. Business Loans—First Bank offers long-term business loans to help you expand your business, finance new equipment, or refinance debt. Construction and Mortgage Loans—Our construction loans provide businesses with 3 min read

Fraud Protection Best Practices: When to use a Credit Card vs. a Debit Card Key Fraud-Related Differences Between Credit Cards and Debit Cards A credit card allows you to borrow money from a lender up to a set limit, with the expectation of paying it back later, often with interest if not paid in full. A debit card, on the other hand, directly withdraws funds from your bank account when you make a purchase, limiting spending to the amount in your account. Balancing credit and debit card use can enhance both security and financial stability. If someone steals your credit card information, they are effectively stealing the credit card issuer’s money, not directly accessing your bank account. This separation provides a crucial security buffer, giving you time to dispute charges without risking essential funds like rent or grocery money. In contrast, debit card fraud affects your checking account immediately, which can cause financial disruptions until the issue is resolved. First Bank Cardholders: Did you know that First Bank credit and debit cards offer Mastercard’s zero-liability protection? Whether you are using your First Bank credit or debit card, you’ll only pay for purchases that you have authorized on your Mastercard® card. Unauthorized purchases are not your responsibility. Instances Where a Credit Card can Offer Increased Fraud Protection Online Purchases Credit cards are generally safer for online transactions. They offer robust fraud protection, and most credit card companies monitor for suspicious activity, often reimbursing fraudulent charges quickly. Travel and International Transactions When traveling, especially abroad, use a credit card. Credit cards typically offer better fraud monitoring and reduced liability if your card information is compromised. Big-Ticket Purchases Use a credit card for expensive items like electronics or home appliances. Many credit cards come with purchase protection, extended warranties, and easier dispute resolution if something goes wrong. Recurring Payments or Subscriptions Credit cards provide better protection if you need to dispute unauthorized subscription charges, helping avoid interruptions to your service while the issue is resolved. Best Practices for Card Security Monitor Transactions: Regularly check both credit and debit accounts for unauthorized activity. Use Secure Websites: Look for “https://” in website URLs when shopping online. Enable Alerts: Sign up for transaction alerts for immediate fraud detection. Report Issues Promptly: The sooner you report suspicious activity, the better your chances of minimizing loss. Responsible Credit Card Use To maximize fraud protection while maintaining financial health, use credit cards responsibly by: Paying the Balance in Full: Avoid interest charges by clearing the balance each month. Staying Within Limits: Use only a portion of your credit limit to maintain a healthy credit score. Making Timely Payments: Pay on time to avoid late fees and credit score damage. 3 min read

Teach Teens to Save: Banking Tips For A Financial Future We know learning may look a little different these days, so we’ve put together a guide to help boost your teen’s knowledge of banking. In this guide, you and your teen will find information on: Working their way around a check – Yes, they still exist! Setting up a financial future – Start sooner than later. Life hacks on saving time and money – Who wouldn’t want that? Get your teen thinking about their financial future, and download this free guide today! For additional resources, check out these interactive courses on Starting Out, Financial Basics, and Paying for College. 1 min read

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