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Rhinebeck Bank recently issued new MasterCard® Debit cards with new “Chip” technology. These cards are also referred to as EMV Cards, for the original developers Europay, MasterCard® & Visa®.
EMV began to be used extensively in Europe in the early 1990s. In 2011 the leading payment networks in the U. S. announced plans to transition to EMV technology, for both Debit and Credit Cards, by October 1, 2015. On that date liability for fraudulent transactions shifted to any entity that had not implemented the new EMV technology. Due to the expense involved in purchasing new terminals and issuing new cards many merchants and banks did not make the change by the target date of October 1, 2015. This, however, did not affect customer’s ability to use their cards, nor did it affect the consumer’s rights under regulations and network rules regarding liability for fraudulent transactions.
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Over the course of any given month there are dozens of transactions going in and out of your checking account: direct deposits posting from your employer, your mortgage or rent, utility bills, car loans, insurance and other payments are withdrawn. There are also groceries to buy, dinners out, a gas tank to fill and perhaps a trip to the movies or shopping online. Do you know the true balance in your account before you spend money or do you just wing it?
Whether you are a high school student looking for your first job or a seasoned professional looking to make a job change, you should remember your career path is up to YOU. Many candidates take a position because it was offered. Just because a position is offered to you does not mean you have to take it. Ask yourself these questions:
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For new professionals beginning a career in their early 20’s retirement can seem light years away. I certainly felt this way in my early 20’s, and to some extent still feel in my mid 30’s. The reality is retirement is not that far away. The longer millennials wait to start saving, the more difficult achieving retirement goals will be. For a long time the combination of Social Security and in most cases a pension ensured a semi comfortable retirement. Adding a 401k and/or IRA to the mix was just icing on the cake. For most job families pensions are a thing of the past, and social security is a big question mark. This leaves personal retirement savings as the most reliable way for millennials to achieve their retirement goals. So why is it so important to start early?
For the past several years, a hot topic in banking circles has been centered on Millennials. More specifically, the talk has been how to tailor banking solutions to meet the needs of the next up and coming generation. Born between 1980 and 2000, Millennials are the largest generation in American history. As a Millennial myself, I can attest to the fact that being born in the early 80’s, as I was, is much different than being born in the late 90’s. That being said, if there’s one thing that’s shaped this generation as a whole, it’s technology. Technology has touched just about everything in the lives of a Millennial, most of whom don’t remember life without access to the internet. Over this same time period, banking has evolved tremendously along with technology. Technology has driven customers away from bank branches and to ATM’s, computers, mobile devices, and third party payment systems such as PayPal.
In a deal between the New York legislature and Governor Andrew Cuomo, the state has changed the way new homeowners can take advantage of the STAR program. While the total amount of the tax relief remains unchanged, the difference is in “when” you receive it.