July 21, 2020 - Cybersecurity & Financial Fraud - Protect Your Accounts
We wanted to take this opportunity to inform you about cybersecurity trends that are increasing as a result of the COVID-19 pandemic. Also, we would like to share how the bank is protecting its clients and provide additional guidance on how you can best protect yourself from financial fraud and identity theft.
June 12, 2020 - Fraud is on the Rise, Don’t be a Victim
Fraudsters take advantage of emergency situations, such as the COVID-19 pandemic, and create a sense of urgency to get you to act impulsively. For your online safety, do not use any links in an unsolicited email, instant message, text or chat to get to our web page or to your online bank/bill pay account. To reach our website or account login, type the website address directly into your browser.
June 10, 2020 - First Bank Adjust Hours and Services
The last few months have brought about changes that have required us all to adjust our daily routine. As we navigate forward, I want to express my sincere appreciation for your continued patience as well as the genuine kindness and concern you have extended towards our staff.
April 16, 2020 - Important PPP Update
The SBA Paycheck Protection Program (PPP) loan funds have been exhausted at this time. The SBA is no longer accepting applications but we are hopeful this is temporary. News reports seem to indicate that there is general agreement in Washington regarding the need to replenish these funds however, nothing has been finalized at this point.
Banks throughout the country are experiencing unprecedented volumes of transactions being conducted via Online Banking, Mobile Banking and Bill Pay. This activity along with the distribution of stimulus funds from the Federal government has overwhelmed the bandwidth supporting these technology systems.
April 6, 2020 - Now Accepting SBA-PPP Loan Applications
We are pleased to announce that existing First Bank clients may now submit applications for the SBA Paycheck Protection Program loans. The application can be found on our website along with guidance for best practices, checklists and FAQs. https://www.firstbankhp.com/small-business-relief
April 1, 2020 - SBA Lending Program Resources for Businesses
This letter is to provide an update regarding the recent developments pertaining to the Paycheck Protection Program (PPP) loans for businesses. Last night, the SBA and Department of the Treasury released information including the application process for the relief loans. The first day the loan can be applied for is Friday, April 3rd. We anticipate being able to accept applications beginning this Friday for current clients only.
March 24, 2020 - First Bank is Temporarily Adjusting Hours
In order to maximize safety while fulfilling our role as an essential business under Governor Pritzker’s “Stay at Home” order, we are temporarily adjusting our business hours as follows effective Wednesday, March 25th.
SBA Economic Injury Disaster Loan Program
Find more information on the SBA’s Economic Injury Disaster Loans at: https://www.sba.gov/funding-programs/disaster-assistance
Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).
The SBA will work directly with state Governors to provide targeted, low-interest loans to small businesses and non-profits that have been severely impacted by the Coronavirus (COVID-19). The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
Below is a checklist we have created to help guide you through the application process. If you need assistance or have questions, please contact a banker.
March 16, 2020 - COVID-19 Update
At First Bank, the health and well-being of our employees and clients are top priority. Given the evolving concerns around COVID-19, starting on Tuesday, March 17, 2020, we are temporarily suspending all services at our Skokie banking center, suspending lobby access in Northbrook and limiting lobby access in Highland Park. Drive thru services will remain available in Highland Park and Northbrook. Please call your banker before coming to the bank as there are many things we can do over the phone.
March 13, 2020 - COVID-19 Update
Much like you, the Coronavirus (COVID-19) has our attention. The health and safety of our clients, our employees and our community is our primary concern for all of us at First Bank. We are doing everything possible to keep our employees and clients safe while delivering the best client experience possible.
For your online safety, First Bank will never ask for your password or account number(s) in an email. Do not use any links in an unsolicited email, instant message, text or chat to get to our web page or to your online bank/bill pay account. To reach our website or account login, type the website address directly into your browser. Please call a banker at 847-432-7800 if you have questions or concerns regarding any bank communications.
Fraudsters take advantage of emergency situations, such as the COVID-19 pandemic, and create a sense of urgency to get you to act impulsively. Here are some tips from the FBI that you can use to avoid becoming a victim of cyber fraud:
• Do not respond to unsolicited (spam) e-mail.
NACHA Same Day ACH Enhancement - March 20, 2020
In September of 2018 a new rule was approved by NACHA to expand the capabilities of Same Day ACH processing by increasing the per-transaction dollar amount. The new rule is to be effective March 20, 2020 and allows for an increase to $100,000.00 per-transaction of Same Day processing of eligible ACH credit transactions and non-monetary transactions with a Same Day effective date. Transactions greater than $100,000.00 and International ACH transactions (IAT) continue to be transactions ineligible for Same Day processing by the ACH network. Please consult your First Bank of Highland Park ACH Agreement for further details and cutoff times.
Regarding Trusteer Rapport
Effective January 01, 2019, we are no longer offering new downloads of Trusteer Rapport. We will not maintain or provide updates or new versions of the software and will not be able to provide support to customers who continue to use it. We encourage you to consider using other malware detection products that may offer a solution appropriate to your needs and/or the needs of your organization.
Regarding Mobile Deposits
Due to regulatory changes, effective August 1, 2018, all checks deposited to your account using our Mobile Banking app on your iPhone, Android, or tablet, will need to include a restrictive endorsement that specifies how the deposit was made.
Tax Scams and Protection Tips
With the holiday season now over, and millions of Americans getting their finances in order for their tax obligations, financial fraudsters are lying in wait and looking for an opportunity to commit tax fraud. Identifying and learning how to protect yourself from tax fraud requires one to be diligent and properly educated on the various tax scams. Below are examples of tax scams that have been trending the last few years and various ways to protect yourself.
Business Mobile Banking
First Bank Business Mobile Banking Application has been enhanced with some new features. Details of these new features are described below:
Android Fingerprint Login
As part of the new release, users with an Android device that allows the setup and registration of a fingerprint can now sign into the Business Mobile Banking app using fingerprint login instead of entering a password. This feature is similar to the functionality already offered for Apple iPhones.
Deposit Tiles for all Users
This feature provides the ability for the mobile application to display the Deposit main menu tile to all users, regardless of whether the user’s account is enabled for mobile deposit capture. If the user account is enabled for mobile deposits, the application will display the Deposit menu. If the user is not enabled for mobile deposit, the application will display the Deposit menu with a message to contact their financial institution for assistance.
Auto Populate Account on New Deposit Screen
This enhancement to the New Deposit screen will automatically select the deposit account when only one account is available.
Limit Loan Payment Types by Account
This enables users making a loan payment to see only the payment types available (i.e. principal, interest or principal and interest).
Mobile Device and Operating System Updates
The following have been added to our list of approved Mobile Devices and Operating Systems.
New Operating Systems
The following list of Mobile Devices have been removed from our approved list. These devices are no longer supported due to low market usage.
Personal Online Banking Updates
First Bank will be adding new capabilities to our Personal Online Banking. The following enhancements will be available:
We apologize for any inconvenience this may cause you.
Personal Mobile Banking Enhancements
First Bank will be updating our Personal Mobile Banking Application with Accounts Page Enhancements, Live Updates and Face ID for Apple iPhone X. Details of these new features are described below:
Accounts Page Enhancements
Accounts Page Enhancements is a new feature that allows a user with more than one account to customize the order in which their accounts appear. This can be accomplished by either tapping the Sort icon, or, if available by tapping Show all my accounts and then tapping Edit. Using your finger tap the account and slide the account to the desired location. After the accounts have been reordered, tap Done in order to save the changes.
Live Updates is a new push notification feature available to users of smartphone applications. These alerts will keep users updated on changes to their mobile banking application, including functional improvements and planned maintenance downtime. The following is an example of the verbiage:
Off-Cycle Maintenance Alert: Your mobile banking application may be unavailable outside of normal maintenance hours on April 29 from 4 a.m. to 6 a.m. EST (1a.m. to 3 a. m. PST). Normal maintenance periods are planned for the second and third Sunday of each month.
The presentation of Live Update push notifications might vary depending on the device’s operating system version and user settings. For example, if the device is locked when a notification arrives, the notification generally remains visible on the lock screen until the user unlocks the device. If the device is already unlocked, the notification may briefly appear as a banner at the top of the screen before disappearing.
Live Updates is an opt-in feature, meaning each user must explicitly turn on the alerts. Once turned on, the user continues to receive alerts until they turn off push notifications.
Upon signing in to the smartphone application the first time after we have activated Live Updates the application presents the user with ‘What’s New: Introducing Live Updates screen’. This screen explains what Live Updates are and provides the ‘Turn on Live Updates’ link, which users can tap; go directly to the ‘Alerts’ setup screen in the ‘More’ menu; and turn on Live Updates.
Face ID for Apple iPhone X
For Apple devices, the messaging and prompts have been updated to reflect Face ID. Users with an Apple iPhone X can choose to turn on Face ID for the application through an iOS pop-up or the device Control Center. When activated, users can use a face scan in place of a fingerprint to access the application. If the user turns off Face ID for the application through an iOS pop-up or the device Control Center, biometric login capabilities will not be available. Users can turn on Face ID for the application at any time through the device Control Center.
CEO and Business Email Compromise (BEC) Fraud Awareness
What is CEO Fraud?
CEO Fraud, also known as Business Email Compromise (BEC) Fraud, is a type of targeted attack that commonly involves a cybercriminal pretending to be the CEO or another senior executive from your organization, then tricking you into releasing highly sensitive information or initiating a wire transfer.
Federal Trade Commission
The Federal Trade Commission has long provided advice to consumers about steps they can take to avoid phishing scams. On March 6, 2017, the FTC released tips and a video for businesses on how to respond if they are impersonated as part of a phishing scam. Among the steps businesses should take include notifying customers as soon as possible through social media, email or letters; contacting law enforcement; providing resources for affected consumers; and reviewing the company’s security practices.
Visa Debit Card Purchase Alerts
Now you have more tools available for tracking your Visa Debit Card activity. With Visa Purchase Alerts powered by Visa, you can receive near real-time updates via text message or email. You can also act quickly to help reduce fraud and monitor your account, wherever you are. Visa Purchase Alerts powered by Visa is free for First Bank Visa Debit cardholders.
Sign up at www.visa.com/purchasealerts
Disclosure: Actual time to receive Alerts powered by Visa dependent on wireless service and coverage within area. Alerts service may not be available in all areas. Gasoline alerts may not include purchase amount. Account activity qualifying for Alert service may vary by issuer. Additional restrictions apply. Message and data rates may apply. Consult your cell phone service provider for details.
Business Online Banking 5.0 Upgrade
We upgraded Business Online Banking. This upgrade includes enhancements designed to provide more efficient cash management services and integration capabilities. This upgrade also changes the minimum internet browser and operating system requirements. Click here to view the “Certified Browsers and System Requirements” to ensure your current internet browser and operating system will remain compatible with Business Online Banking.
Here are some tips from the FBI that you can use to avoid becoming a victim of cyber fraud: