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  Take Steps to Protect Your Checking Account Information

On the territory of North Carolina, payday advances are disallowed. Actually, every organization that worked in the field have stopped the work lately; or they got a permit and are obliged to consent to the state laws and work according to the required advance interest - 36% APR. In North Carolina due to the state code any loaning organizations offering either "here or now" loans or any credits are not allowed to charge over 36% for each annum as APR. Any loan company charging more is disregarding the law.

It is fine to use your checking account information on the Web or over the phone to pay bills or to pay companies you know and trust. But you should safeguard your checking account information, just as you would your address, phone number, Social Security number, and other account numbers.

Here's a list of steps consumers can take to prevent checking account number theft:
  • Safeguard your checking account information, just as you would any other sensitive personal information.
  • Never give your checking account information to telemarketers or to callers claiming to need to confirm or verify your checking account information.
  • Don't carry your checkbook around with you unnecessarily.
  • Don't leave bill payments or other checks in your mailbox.
  • Always review your monthly account statement, or go to your financial institution's web site to view your account activity more frequently. Report any unauthorized transaction or suspicious activity to your financial institution immediately.
  • Report lost or stolen checks and checkbooks immediately to your financial institution.
  • Tear or shred any old checks or account statements before throwing them away.
  • Consider using electronic alternatives to paying by check when making purchases or paying bills. This substantially reduces, or even eliminates, the number of people that see the personal and account information that is printed on your checks, and provides better protection under Federal regulations.
  • If you believe your checking account information has been stolen, contact your financial institution immediately.
Consumers have better protection with electronic payments than they do when using paper checks. There are federal regulations that provide consumers with substantial protection against unauthorized electronic debits to their checking accounts. There are no comparable federal regulations for checks. Under the new North Carolina necessities for the loan license, the advance office must pay a $500 charge alongside a $250 expense. They should likewise reestablish their permit yearly and pay a $250 charge, in addition to an additional $40 dollar expense for each different office. In this way, over the long haul the North Carolina officials found a way by which the North Carolina residents are able to have an equivalent opportunity to get payday credits same as different states.
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