It's 11:00 p.m. Do You Know Where Your Money Is?

by Elizabeth Sherman 8. May 2012

If someone asked, "How much money do you have in your account?” would you know the answer – down to the penny?  Do you rely on an ATM receipt for your latest balance information or your monthly statement for transaction history?

In this era of technological advances, you can access account information from your phone, electronic tablet or computer.  The problem?  Hackers can as well.  By simply opening an e-mail, you can inadvertently download an insidious virus which could enable a criminal to see all of your confidential information.  While banks are putting more security features in place to protect your accounts and related information, YOU still remain the first line of defense.

You should know what’s going on with your bank account better than anyone.  Only you know where you’ve been and where you’ve spent your money.  Take five minutes each day to verify your transactions and balances.  By doing this every day you could potentially mitigate damages caused by either theft or the manipulation of your accounts.

It’s your money!  Make it your business to know where it is at all times!!!!!

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How to Prevent Check Fraud Scams

by Elizabeth Sherman 3. October 2011

1st Mariner Check Fraud PreventionPositive Pay is, quite frankly, one of the best ways to prevent check fraud scams on a business checking account. Basically, a business owner writes checks and if there are any discrepancies between the checks written and the checks clearing the account, the business owner has the option to either pay or return the items. No check will clear the account without going through this process and thus limits the possibility of check fraud scams.

Most business owners understand and appreciate the security of Positive Pay, but feel the process can be too labor-intensive with entering or downloading the check information to their bank.  With one of our customers, the objection wasn’t so much about entering the information but more with having to implement the Positive Pay product on all three of their business entities. A recent incident, however, changed their opinion when Positive Pay prevented almost $2,000 in check fraud losses.

Over one weekend, several individuals came into a few 1st Mariner Bank branches, attempting to cash checks written on one of the entity accounts, and because of Positive Pay, the checks were flagged as “exceptions” (possible fraudulent checks). The basic information (date, serial number or amount) didn’t match the information provided by the business owner. This, in turn, prompted additional inquiries from our tellers. Unable to verify the checks with the business owner, the tellers refused to cash the items and, in one instance, alerted the police when one individual was unable to provide the appropriate ID, resulting in an arrest.

With advances in technology forcing business owners to be even more vigilant with their account information, Positive Pay’s check fraud prevention process provides an additional level of security in protecting the cash business owners fight so hard to earn.

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It's 11:00 p.m. Do You Know Where Your Money Is?

Customer Feedback - It's all good

by Elizabeth Sherman 17. June 2010

Long time customers are the cornerstone of any successful business and banking is no exception. The customers who stick it out through thick and thin provide us with a sense of stability and allow us to feel like we are doing something right.

Whether volunteering to test pilot a new product or investing in the organization, these customers embody our mission to “become a trusted part of the communities in which we operate and to focus on meeting the financial planning and servicing needs of our customers in a way that is personal and professional”.

It is feedback from our customers, good or bad, that gives us the incentive to continuously improve. Below is some feedback from one of our business clients, Riparius Construction, Inc in Baltimore.

As the Chief Financial Officer of one of the largest general contractors in the Baltimore metropolitan area, Riparius Construction, I am thrilled with the support we’ve received from 1st Mariner Bank. They are extremely responsive to all of our requests and financial needs and they are very proactive in making sure we have all of the latest systems that assist us in streamlining our banking operations

We look forward to a continued mutually beneficial long-term relationship.

Mark L. Luterman

Chief Financial Officer

Riparius Construction, Inc

Thank you to Mr. Luterman and all of our customers for keeping the faith and giving us the opportunity to provide you with “Red Carpet Service”.

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