Q&A with Chase Bank’s Gail Taylor

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Financial health can be the foundation for strong and resilient households, communities and economies, but understanding and managing finances continues to be a challenge for many.

Since January is so often associated with healthy habits, it’s no wonder that it’s also Financial Wellness Month. With the new year upon us, Chase reminds its customers to put financial health first by offering guidance to ensure a financial future they can feel good about. We sat down with Gail Taylor, local community manager for the Chase branch on Michigan Avenue, to discuss setting and protecting goals for a successful financial journey.

Model D: What are the key actions consumers can take to improve their overall financial health in 2022?

Gael Taylor: Managing your money can be complicated, so breaking your finances down into smaller chunks can help you achieve your short- and long-term goals. We encourage our clients to prioritize the following:

  • Set and maintain a budget to feel more in control and spend less than you earn. We have an online tool for our customers called Budget Planner that allows you to set your budget, track your expenses and adjust it day by day.
  • Grow your savings and set aside money in an emergency fund for all of life’s unexpected surprises. This can help create peace of mind knowing you’re covered. With Continue Autosave, you can choose when and how often you want to transfer money from your Chase checking account to your Chase savings account – starting with as little as $1 a day.
  • Build your credit (and your credit score) by paying your bills on time (every time). With Chase Credit Journey, users can easily understand and monitor their credit score with actionable credit health insights.
  • 1:1 match with a banker. For a more personal planning process, we recommend working with an advisor who understands everything from your big goals to the small details. You can schedule a meeting by visiting chase.com/meeting.

Model D: In terms of financial health and security, how can consumers protect themselves from scams?

Gael Taylor: As has been reported in the news over the past two years, there has been an increase in scams targeted at everyday people related to their stimulus checks and unemployment benefits, bogus treatments for COVID-19, and more. again). It is crucial to recognize activities designed to steal your money. Here are some best practices to protect yourself from scammers:

TO DO:

  • inquire on the most common scams. Fraudsters will use anything to their advantage – pretending to be from the IRS, pretending to offer tech support, luring you with prizes or cash winnings – the sky is the limit!
  • Monitor credit score for free with Chase Credit Journey – you don’t even have to be a Chase customer to sign up! It will notify you if your data is compromised. Plus, you’ll receive critical alerts that will help protect your credit and identity.
  • Review your accounts closely if you think you have fallen into the trap of a scam. With Chase, you can also configure account alerts so that you can be informed of transactions on your account.

NOT:

  • Click on suspicious links in emails or texts unless you are sure they are from a credible source. Only access your accounts through the bank’s mobile app or website.
  • Sharing personal information. Neither Chase nor any other bank will ever ask you for your username, password, ATM PIN, etc. when they contact you. Banks can request this information only when you call to discuss your account.
  • transfer money to someone claiming to be from your bank. Banks will never ask to send money by wire transfer, check or other method to “stop or prevent fraud”.
  • Pay someone with gift cards, especially when they claim to need it to remove a virus from your computer, stop fraud on your account, or buy plane tickets to visit you.

If you think you’ve been the victim of fraud or scam, you don’t have to feel embarrassed or ashamed. It can happen to anyone. The most important thing is to take immediate action.

First, contact your bank, credit card issuer, or local law enforcement to report the fraud or scam; they will be able to tell you the best way to proceed. If you have any questions, visit us at the Corktown Branch and Community Center on Michigan Avenue. We are always happy to answer questions from our customers.

To learn more about common scams and how to stop scammers in their tracks, visit: www.chase.com/security-tips. You can also learn tips for identifying and avoiding financial abuse by visiting: www.chase.com/financialabuse.

Sponsored content from JPMorgan Chase & Co.

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