Protecting your finances
Ensuring your finances are protected and secure is our priority. At Webster Five, we are also committed to helping our customers protect themselves against fraud, identity theft or even possible financial abuse. Remember, Webster Five will never ask you for any personal or account information through an unsolicited email or telephone call. Learn more about how we work together to keep your finances safe.
Deposit Insurance
With Webster Five, not only are your funds insured by the FDIC (Federal Deposit Insurance Corporation), but also by the DIF (Depositors Insurance Fund) for all funds over the FDIC limit. This means you are fully insured, fully protected!
The FDIC was established by the U.S. Congress in 1922 with a mission to insure bank deposits. Originally set at $2,500, the FDIC’s per-depositor limit has increased over time to its current coverage of $250,000.
The DIF is a private, industry-sponsored excess deposit insurance company. Created by a special act of the Massachusetts legislature in 1932, the DIF began operations as a primary insurer in 1934. Today, the DIF insures all deposits in its member banks in excess of the FDIC’s $250,000 per depositor limit. DIF insurance is available only on deposits in Massachusetts-chartered savings banks. By combining FDIC primary insurance and DIF excess deposit insurance, banks that are members of both organizations provide their depositors with full insurance.
Read more about depositor insurance through the FDIC/DIF with Webster Five Bank, Massachusetts, or visit www.fdic.gov or www.difxs.com.
Do you plan on using your debit card while traveling?
Due to a recent increase in fraudulent debit card transactions originating within the United States and in foreign countries, Webster Five may block transactions initiated in certain locations. If you are traveling, please call 800-696-9401 so we may make a note on your card and inform you about any areas or transaction types that may be affected. We apologize for any inconvenience this may cause you, but protecting your accounts from possible fraud is our primary concern.
Fraud Monitoring
You may not know it, but you have protection against the increasingly savvy perpetrators of debit card fraud. Experienced fraud analysts work around the clock, watching for any suspicious card activity and will contact you immediately if they detect potential fraud on your card. Just let us know when you are traveling so your card activity does not look suspicious. If you ever get a call or text from one of our fraud analysts, know that our watchdogs are doing their job and preventing potential fraudulent use of your card. Fraud is serious business and can hit any time. That is why we are always on guard to detect and prevent fraud from happening to you.
Report a lost or stolen debit card
To report a lost or stolen card, call 800-696-9401 during business hours or 800-528-2273 after hours.
Other helpful resources
To learn more about how to protect yourself against Internet Phishing and Identity Theft, click here.
If you are a senior citizen or know a senior citizen who may be a victim of elder financial abuse, please contact one of the following local agencies:
Elder Services of Worcester Area, Inc.
67 Millbrook Street, Suite 117
Worcester, MA 01606
508-756-1545
Tri-Valley Inc.
10 Mill Street
Dudley, MA 01571
800-286-6640
