Privacy and Policy
Privacy and Policy
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Check 21 Notice
CHECK 21 DISCLOSURE NOTICE
[IMPORTANT INFORMATION ABOUT THE CHECKS] SUBSTITUTE CHECKS AND YOUR RIGHTS
What is a substitute checks?
To make check processing faster, federal law permits banks to replace original checks with “substitute checks”.These checks are similar in size to original checks with slightly reduced image of the front and back of the original check. The front of a substitute check states:” This is a legal copy of your check. You can use it the same way you would use the original check. ”You may use a substitute check as proof of payment just like the original check.
Some or all of the checks that you receive back from us may be substitute checks. This notice describes rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other law with respect to those transactions.
What are my rights regarding substitute checks?
In certain cases, federal law provides a special procedure that allows you to request a refund for losses you suffer if a substitute check is posted to your account incorrectly (for example, if you think that we withdrew the wrong amount from your account or that we withdrew money from your account more than once for the same check).
The losses you may attempt to recover under this procedure may include the amount that was withdrawn from your account and fees that were charged as a result of the withdrawal (for example, bounce check fees).
The mount of your refund under this procedure is limited to the amount of your loss or the amount of the substitute check, whichever is less. You also are entitled to interest on the amount of your refund is your account is an interest-bearing account. If your loss exceeds the amount of the substitute check, you may be able to recover additional amounts under other law.
If you use this procedure, you may receive up to $2,500 of your refund (plus interest if your account earns interest) within 10 business days after we received your claim and the remainder of your refund (plus interest if your account earns interest) not later than 45 calendar days after we received your claim. We may reverse the refund (including any interest on the refund) if we later are able to demonstrate that the substitute check was correctly posted to your account. (Please note that a service fee will be charged to your account balance is less than the amount to be reserved.)
How do you make a claim for a refund?
If you believe that you have suffered a loss relating to a substitute check that you received and that was posted to your account, please contact us at Head Office-330 Fifth Avenue, 4th Floor, New York, NY 10001,Tel(646)843-7300; Flushing Branch-136-68 ROOSVELT Avenue, Flushing, NY 11354,Tel: (718)939-9595; Olympic Branch-3000 West Olympic Blvd., Los Angeles, CA 90006, Tel: (213)380-8300.
You must contact us within 60 calendar days of the date that we mailed (or otherwise delivered by a means to which you agreed) the substitute check in question or the account statement showing that the substitute check was posted to your account, whichever is later. We will extend this time period if you were not able to make a timely claim because of extraordinary circumstances.
Your claim must include:
- A description of why you have suffered a loss (for example, you think the amount withdrawn was incorrect);
- An estimate of the amount of your loss;
- An explanation of why the substitute check you received is insufficient to confirm that you suffered a loss ;and
- A copy of the substitute check[and /or] the following information to help us identify the substitute check:(Identifying information, for example the check number, the name of the person to whom you wrote the check, the amount of the check)
How We Protect You
Keeping your online financial and personal information secure and confidential remains one of our top priorities.
We ensure your privacy and security by offering technology and services designed by the brightest minds in the online banking industry.
Encryption: The privacy of communications between you(your browser) and our servers is ensured via encryption. Encryption scrambles messages exchanged between your browser and our online banking server.
Password Complexity: It is important to verify that only authorized persons log into online banking. This is achieved by verifying your password. When you submit your password, it is compared with the password we have stored in our secure data center.
We allow you to enter your password incorrectly a limited number of times; too many incorrect passwords will result in the locking of your online banking account until you call us to reinitialize the account. We monitor and record “bad-login” attempts to detect any suspicious activity (i.e. someone trying to guess your password).
You play a crucial role in preventing others from logging on to your account. Never use easy-to-guess passwords. Examples:
- Birth dates
- First names
- Pet names
- Phone numbers
- Social Security numbers
Never reveal your password to another person. You should periodically change your password in the User Option section of Internet Banking.
Secure Architecture: The computers storing your actual account information are not linked directly to the Internet.
- Transactions initiated through the Internet are received by online banking Web servers.
- The servers route your transaction through firewall servers.
- Firewall servers act as a traffic cop between segments of our online banking network used to store information, and the public Internet.
- This configuration isolates the publicly accessible Web servers from data stored on our online banking servers and ensures only authorized requests are processed.
Various access control mechanisms, including intrusion detection and anti-virus, monitor for and protect our systems from potential malicious activity. Additionally, our online banking servers are fault-tolerant, and provide for uninterruptible access, even in the event of various types of failures.
Online Banking Features that promote Security: We provide a number of additional security features in online banking to help protect you:
- Timeout: This prevents curious persons from continuing your online banking session if you left your PC unattended without logging out. You may set the timeout period in online banking‘s User Options screen. We recommend that you always sign off (log out) when done banking online.
- Online Statements: Online statements are facsimiles of traditional financial statements packaged and delivered to you securely within Internet Banking. By eliminating your paper statement, you help stop thieves from stealing your information out of your mailbox.
- Check Images: View an exact facsimile of your check transactions online to help prevent fraud.
- Alerts: Check clear alerts, payment alerts, and balance alerts are financial tools we provide to help you to monitor your accounts more actively and to detect suspicious activity more easily.
Please note that Shinhan Bank America will never send an e-mail to any customer in which we request any personal information such as passwords, security codes, etc., or ask you to click on a link and enter any personal information. If you ever receive an e-mail that looks like it come from Shinhan Bank America that asks you to perform these actions you should immediately delete the e-mail.
Online banking and bill pay service agreement
This Global Internet Banking Agreement (“Agreement”) is entered into by and between Shinhan Bank America (“Bank”) and the undersigned (“Customer”). Shinhan Bank America (“Bank”) agrees to provide certain Internet Banking Services (“Internet Banking” or the “Services”) to you, the Customer the Customer whose name appears on the signature page of this agreement (“Agreement”). Bank grants to Customer a non-exclusive license to use the system program for the purpose of accessing Shinhan Bank America’s Internet Banking and to use those components of the program selected by you. This Agreement establishes the terms and conditions of certain Services and contains the rights and responsibilities of Bank and Customer. When you use a Service listed in this Agreement, you agree to be bound by all terms, conditions and procedures as outlined in this Agreement, any additional terms and conditions provided from time to time for Service and any user materials furnished to you. By signing this agreement, you agree to the terms and conditions contained in this agreement. We may change, add to, or delete from the terms and conditions disclosed in this agreement, any additional terms and conditions provided and any user materials furnished to you from time to time. You acknowledge your acceptance of those changes by continuing to use the affected Service(s).
These Terms and Conditions, including use of the Services, are subject to Bank’s Deposit Account Disclosure Statement and Agreement and, if applicable by the provisions of any software license agreement(s) whether or not executed by Customer, regulations, any ACH operating rules (specifically including but not limited to the National Clearing House Association (“NACHA”) Operating Rules and Guidelines) (collectively, the “ACH Rules”) and Uniform Commercial Code 4a. Other capitalized terms shall have the meaning as set forth in these Terms and Conditions, including those provided in Exhibit “A”, or, if applicable, in the NACHA Rules or the Uniform Commercial Code.
For purposes of this Agreement, “us,” “we,” “our,” or “Bank” shall refer to Shinhan Bank America. “You,” “your,” or “Customer” shall refer to each person signed up for the Services.
Customer understands that online access may be temporarily unavailable during the period Services are ordinarily available, such as when Bank’s equipment needs servicing or is otherwise unavailable. Bank will not be responsible for any losses or inconveniences caused by these temporary unavailability periods.
Customer agrees to comply with any applicable state or federal law in connection with its use of the Services and the fulfillment of its obligations under this Agreement. Customer acknowledges that the Automated Clearing House system may not be used in violation of, and that entries originated by Customer must comply with, the laws of the United States, including sanctions laws administered by the Office of Foreign Assets Controls.
Our Way To Protect You
Enjoy a safe, secure way to pay
Just use your SHINHAN BANK AMERICA Visa Debit card
Get peace of mind with every purchase You can shop with confidence online and anywhere else when you use your Shinhan Bank America Visa Debit card. Plus, your card is safer than carrying cash. That’s because Shinhan Bank America and Visa work 24/7 to prevent, detect and resolve fraud.
Fraud Prevention Tools
- The 3-Digit Security Code on the back of your card provides Internet and phone security by helping verify that you’re in possession of your card.
- With Verified by Visa, your identity is confirmed through a personal password while shopping at participating online merchants.
Real-Time Fraud Detection
- Using best-in-class solutions for Real-Time Fraud Monitoring, we screen your account 24/7 to detect suspicious card activity outside your normal pattern.
- Difficult to Counterfeit. Because EMV chip cards use cryptograms that are unique to each transaction, stolen chip card data cannot be used to create counterfeit cards
- Less Risk of Fraud. The added layer of security provided by EMV chips makes debit and credit card data much less valuable, decreasing incentive for fraudsters to steal data.
We’ll Fix It
- Our Zero Liability* policy means you don’t pay for unauthorized use of your debit card.
* Visa’s Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify us promptly of any unauthorized use.
Your Way To Protect Yourself
Sign Your Card Upon Receipt
- Sign authorized signature on the back of your debit card. It is not valid unless signed.
Review Your Statements
- Review your statements regularly. If you notice any fraudulent activity, let us know immediately.
Set Up Account Alerts
- With the Account Alert Service activated, you will receive an alert via email every time when a transaction that matches your alert.
Protect Your Debit Card
- Always protect your Debit card and keep it in a safe place.
- Never give any information about your Debit card or PIN over the telephone.
Customer Awareness Training
Our Security Approach
128-bit SSL Security Technology
The 128-bit Secure Sockets Layer encryption which is widely used technology for securing Internet communication is applied to our site
The virtual keyboard prevents hacking attempts by using mouse input instead of keyboard input while input critical data on the web. This protects input data from being leaked at the entry level thus enhances safer transaction
Security Device, e.g. security card, OPT token, authenticate users on occasion of critical information change or transaction
* What is a security device?
The security device is used to secure the fund transfer or domestic transfer transaction etc. security card of OTP(One Time Password) is available
The system log off your connection if you remain inactive for 10 minutes
Multi-level Approval System (for corporate users)
When it comes to corporate users, transactions can be finalized by the decision-makers’ approval through multi-level approval system
Personal Cybersecurity Tips
Create Strong Password
1. Avoid using personal information like birthday
2. Stay away from obvious dictionary words or combination of dictionary words
3. Never share or write down your password
4. Choose a different password each account to decrease risk of identity theft or fraud
Be Smart about Social Networks
1. Only accept requests from actual friends
2. Set privacy settings to allow only friends to see content
3. Do not share personal information
4. Do not post photos that reveal an address or a specific location
1. Be cautious about downloading applications
2. Do not select “remember passwords”. If this is chosen, anyone with access to your computer can sign-in as you
3. Do not allow websites to keep credit or debit card information
4. Turn on the browser’s pop-up blockers
5. Ensure proper security settings are in place like up-to-date antivirus software as well as updated applications and operating systems
6. Understand the risks of using public or free Wi-Fi and sending information over unprotected connections
Phishing is a form of social engineering that attempts to steal sensitive information. An attacker’s goal is to compromise systems to obtain usernames, passwords, and other account and/or financial data. They most frequently accomplish phishing attacks via email
* How to prevent Phishing Attack?
If in doubt… 1. Do not trust the display name
2. Look but don’t click
3. Check for spelling mistakes
4. Analyze the salutation
5. Do not give up personal or company confidential information
6. Beware of urgent or threatening language in the subject line
7. Review the signature
8. Don’t click on attachments
9. Do not trust the header from email address
10. Do not believe everything you see
The act of creating a website, as a hoax, with the intention of misleading readers that the website has been created by a different person organization. Normally, the spoof website will adopt the design of the target website and sometime has a similar URL
* Example of a Spoof Website
Secure your Computer
Be sure to download software or application from well-known or trusted sources. You should download and install any operating system and software updates in a timely manner
Equip your computer with up-to-date browser software
1. Firewall to create a barrier between the computer and any unauthorized program trying to come in through the internet. If you are using a system at home, turn on the firewall permanently, which makes you aware if there are any unauthorized efforts to use your system.
2. Antivirus Software that helps to protect the computer from any unauthorized code or software that creates a threat to the system
3. Anti-Spyware Software that collects personal information or information about an organization without their approval. Similar to antivirus software, anti-spyware software offers real time protection. It scans all the incoming information and helps in blocking the threat once detected.