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Things That Make Cents

Online Sale Fail

We share these true stories of member experiences to help you avoid falling victim to a scam. If you ever have questions about the validity of a request for money or information about your account, contact us.

After injuring his knee in a fall, Malcolm decided to sell a few items from his sports memorabilia collection to cover some medical bills. He opened an account for online sales, and posted some of his best finds. It didn’t take long for someone to make him an offer of $500 for a rare baseball card to give her boyfriend for Valentine’s Day.

Malcom didn’t want to send the item until he received payment. The buyer offered a solution: If Malcolm would give her his Online Banking credentials, she would write a check from her account, log in to Malcolm’s Mobile Banking account, and deposit the check to his account using remote deposit capture.

He would know as soon as the check was in his account, and could then send the baseball card. Malcolm agreed, and as promised, the buyer deposited a check for $500 into his account. Malcolm, satisfied that the buyer had upheld her side of the agreement, shipped her the item.

Malcolm had just struck out. The check was a worthless fake. Fortunately, Malcolm had not yet spent the funds, so he didn’t lose money. He did, however, lose the special baseball card he had intended to sell.

Remember: Never share your Online Banking username and password. They’re your last line of defense between you and the bad guys.

Keep your account information private and if ever in doubt, contact us for help. Visit our Security page for more tips on keeping accounts secure.