Last October, the FDIC announced its Temporary Liquidity Guarantee Program (TLG), which includes the Transaction Account Guarantee Program. The TAGP provides unlimited FDIC insurance coverage for non-interest bearing transaction deposit accounts at FDIC-insured institutions that agree to participate in the program.BNC Bank  is a participant in the program.

This coverage is in addition to the standard FDIC coverage of $250,000 per depositor per account.

The Transaction Account Guarantee applies to all personal and business checking accounts that do not earn interest AND personal and business checking accounts that earn interest at a rate no higher than 0.50%. The rules specifically include IOLTAs (Interest on Lawyers’ Trust Accounts).

The FDIC will treat funds swept from a Repo into a non-interest bearing checking account in the unlimited coverage category. As with the increase in coverage to $250,000, this unlimited insurance coverage is temporary and will remain in effect for participating institutions until June 30, 2010.

The Transaction Account Guarantee is very good news for all customers, and especially business customers who can now enjoy unlimited FDIC coverage on their accounts.

BNC Bank is participating in the FDIC’s Transaction Account Guarantee Program. Under that program, through June 30, 2010, all non interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC’s general deposit insurance rules.

Business customers looking to streamline their payment collection processes to save time, effort, and resources, need look no further than their local, community bank!

The increase in the basic limit on FDIC insurance coverage to $250,000 per depositor per account ownership type was extended until December 31, 2013. Originally due to return to $100,000 at the end of 2009, Congress announced the extension in May of this year. The increase in coverage was part of the Emergency Economic Stabilization Act of 2008, which became law after it was approved by both houses of Congress in October 2008. Coverage is now expected to return to $100,000 on January 1, 2014.

EDIE also reflects the increase in coverage. EDIE, also known as the “Electronic Deposit Insurance Estimator,” is a service provided by the FDIC that lets you review your accounts and calculate your coverage, right from your home computer. Follow the instructions and have your account information handy when using EDIE. EDIE is safe and secure and none of the information you enter is retained.

Click here to learn more about your insured deposits.  This link to the FDIC website clarifies many questions about FDIC insurance and explains how you can maximize your coverage. You can also access EDIC on the FDIC website.

Remember that BNC Bank remains profitable, safe, and sound. If you have any questions about your FDIC insurance coverage, please visit the customer service representative at your nearest branch.

Born during the Great Depression, FDIC insurance has been an important feature of deposit products, providing customers with assurance that their funds are safe and secure.

Congress last updated coverage for deposit accounts in 1980, increasing the limit to $100,000 per individual.* But 28 years have passed since that last increase to the limit and in today’s dollars, many customers are concerned about their funds that exceed $100,000.Often customers will spread the risk by placing deposits at several different banks to maximize their insurable amounts.

BNC Bank has the solution! With the addition of CDARS to our product menu, we have made it EASY for our customers to gain FDIC insurance on all their deposits with the bank, no matter the balance.

Here’s how CDARS works.When you place a large amount with us, we put your funds into CDs issued by other banks in the same network – in increments of less than $100,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one bank – BNC Bank.

Through CDARS, we do the work for you and there’s no longer a need for you to run to various banks in hopes of maximizing your coverage. We can do it for you – easily, safely, and conveniently.

To learn more, click here.

*A depositor can have more than $100,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. In addition, federal law provides for insurance coverage of up to $250,000 for certain retirement accounts.

Identity theft continues to be one of the fastest growing crimes in the United States, and has ranked as one of the top consumer concerns for the past several years. The Federal Deposit Insurance Corporation (FDIC) has produced a multimedia presentation to help consumers protect themselves from identity theft. The presentation provides information on steps consumers should take to secure their computer and protect themselves from identity theft, as well as actions consumers should take if they become a victim of identity theft. This presentation is hosted by Vodium.

Don't Be an On-line Victim: How to Guard Against Internet Thieves and Electronic Scams.

Macromedia Flash Player is required to view this presentation. The latest version of Macromedia Flash Player can be downloaded at www.adobe.com/go/getflashplayer. Installation questions or troubleshooting help can be found at http://www.adobe.com/support/flash/.

BNC Bank’s Remote Deposit Capture service, called the EDGE, now available to business customers. This service eliminates the 2 p.m. cutoff for deposits.

The EDGE, which stands for Easy Deposits Gathered Electronically, allows business customers to deposit paper checks of all types electronically, using a table top scanner hooked to a Windows®- based personal computer. The service eliminates the need to rush deposits to the bank because the customer can make the deposit right from their place of business. The deadline for deposits, commonly referred to as the “2 p.m. cutoff” is pushed back to 7 p.m.

To create a deposit, the customer logs on to the bank's secure Remote Deposit Capture web site via the internet using their assigned username and password, enters the amount of the deposit and the number of checks in the deposit, clicks the “process” button and feeds the checks into the scanner. The images are automatically uploaded to our site for processing and credited to your account. The bank provides the customer with the scanner and the software to run the EDGE, and these items remain property of the bank.

“Essentially, we’ve brought the bank right to the customer’s storefront or office,” said Debbie Myers, vice president for business services at BNC Bank. “The new system helps the business customer improve efficiency and profitability. There’s no more rushing to the bank to make a deposit by a certain time, so the business customer can spend more time at their business. All kinds of checks can be processed this way – business checks, personal checks, cashier’s checks, third-party checks, money orders, and traveler’s checks,” she said.

BNC Bank also uses Branch Deposit Capture in its six banking locations, eliminating the 2 p.m. cutoff for personal and business customers who bring checks to the bank for deposit to their accounts. Deposits received by 5 p.m. will be posted the same day.

The Check Clearing Act for the 21st Century, enacted in October 2004, paved the way for Internet-based check processing, by allowing for digital images of checks which move more rapidly through the nation’s payment system.

The lobby of Beach First Center, located at 3751 Grissom Parkway in Myrtle Beach, has been decorated with an eclectic mix of sculpture and photographs.

Sculptures depicting the flora and fauna of the South Carolina coast adorn the walls of the main lobby. Created by Charleston artist Joe Walters, the sculptures are made of unconventional materials including styrofoam, plaster, steel, cellulose, polymer clay, sand epoxy, mesh, glue, and paint. Each individual piece was created in the artist's studio, then affixed to the walls, forming a spiral pattern.

Click here to see the sculptures by Joe Walters.

Also in the lobby of Beach First Center are several photographs by longtime Myrtle Beach resident, photographer and historian Jack Thompson. Two of the works, the Original Patricia Hotel (1956) and the Original Breakers (1957) clearly show the inspiration for the architecture of Beach First Center. A third work shows the beach scene in 1965.

BNC Bank’s home office is located at the corner of 38th Avenue North and Grissom Parkway in Myrtle Beach. This environmentally-friendly building houses a full service BNC Bank branch, along with our administrative offices. We offer all the services you need, including drive-through banking, an ATM, and night depository. There are entrances to the building on 38th Avenue North and on Grissom Parkway. The Nelson Mullins law firm and Croissants Bakery and Café are also located in BNC Bank Center.

Banking at BNC Bank has never been easier. 

BNC Bank First Class and Senior Advantage customers can earn cash back every time they use their Visa Check Card for purchases!  The cash back earned will be credited monthly and appear on the monthly statement.  It’s like getting an extra bonus just for banking with us. 

To learn more click here.

And for our small business customers, we have a FREE small business account that allows up to 150 items free each month. To lean more, click here.