Safety and stability
- Is my money safe?
- Who is The Bancorp Bank?
- How does internet banking security work?
- What is a cookie?
- How can I help to keep my banking information private?
- How can I tell if I have a secured connection to Online Banking?
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Yes. Every PerkStreetSM account is FDIC insured up to $250,000 and all PerkStreet FinancialSM Visa® Debit Cards are protected by The Visa Zero Liability policy. This policy ensures that you won’t be held responsible for any unauthorized transactions.**
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When we started PerkStreet we wanted to partner with innovative companies that could help us reinvent banking. We partnered with the The Bancorp Bank to provide the banking services behind the PerkStreet checking account. The Bancorp Bank is a publicly traded company (NASDAQ: TBBK) with over $2 billion in assets and is a member of the Federal Deposit Insurance Corporation (FDIC) which means your funds are insured up to $250,000.
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Our site is very secure. Here is an example that illustrates the extraordinary precautions we go through to protect your personal data.
Imagine sending a friend a letter. It's as simple as dropping it in a mailbox for the carrier to pick up and deliver. Now imagine that before dropping it into the mailbox, you put the letter through a shredder that only you have the key to. And instead of one carrier coming to pick it up, the post office sends 100 carriers, each of whom take one shred of your letter. They all take a different route through all sorts of neighborhoods to your friend's house. Once there, your friend takes this pile of incomprehensible paper, puts it through a reverse shredder that only he has the key to, and out comes your letter, safe and sound. That's the equivalent of what happens when data is transmitted on this website. If we sent information through the traditional manner of one letter, one carrier, and one route, it would be easy for a criminal to find the truck carrying your letter and pick it out. So we use the 100-carrier method, otherwise known as RSA public-key cryptography. It's become a standard on the Internet wherever private or sensitive information is concerned. The government uses it, the financial industry uses it, and now, so can you.
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A cookie is a piece of data passed to your browser. Internet Banking uses cookies inside the secure banking environment to keep track of your session data. Basically, it tells our system that you've already logged on as a valid user. Without this cookie data, you would have to log on every time you wanted to move to another banking screen. When you hit the logout button to leave the bank, the cookie data is flushed from your system. Newer browser versions have a feature that allows you to be notified when a cookie is being handed to your system. You can disable this option in the Internet Options/Protocols area.
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Use the latest version of Microsoft Internet Explorer or Firefox. These browsers are certified for use at our site.
Keep your password private. Change it often to ensure that no one else can guess it, and do not let anyone else use it. Never walk away from your computer without signing out.
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Some browsers use a key or lock icon (usually appearing in the bottom right corner of your screen) to show that a site is secure, and other browsers display a message box indicating when you are beginning or ending transmission over a secure connection. Check out your browser's help feature for more information.
