WSB's Banknotes

Tips in Honor of World Financial Planning Day – Oct. ‘25

Financial planning is something every age group can participate in, and in honor of World Financial Planning Day on October 8th, Washington State Bank is encouraging people of all ages to set aside time to evaluate financial goals.

According to Motley Fool Money, the average American scores just 48% on financial literacy tests. From childhood to retirement, financial planning and literacy is about more than just numbers — it’s about achieving milestones, aligning money with your goals, and providing peace of mind. Take steps to improve financial literacy and planning. There are unique focuses for each age group when it comes to financial planning. Here’s a few recommendations for every phase of life.

Teens and younger – It’s important to teach financial literacy to younger people. Start with a simple budget, like the 50/30/20 rule for needs, wants and savings. Instilling confidence at a young age sets kids up to handle bigger responsibilities down the road.

In your 20s – You can build a lifetime’s worth of wealth by building a strong foundation in your 20s. Start investing for retirement, start an emergency fund, and work to establish healthy habits by distinguishing between needs and wants. It’s also a great time to chip away at high-interest debt from higher education, credit card, or car loans.

In your 30s and 40s – Strive to increase retirement contributions as income levels grow. Continue to save for major goals, like buying a house, growing your family, or paying for a child’s education.  

In your 50s and 60s – As retirement nears, shift priorities toward protecting wealth and preparing for life post-workforce. Plan withdrawal strategies, pay off any remaining debt, and continue strong investment strategy.

These tips are provided by the Iowa Bankers Association. 

7 Strategies for Spotting Counterfeit Money

The process of producing counterfeit currency continues to grow more sophisticated, especially with recent advancements in technology. But there are still plenty of telltale signs that can help you and your employees distinguish counterfeit money vs. real money. Do you know how to detect counterfeit bills? Here’s what to look for when you receive cash from customers.

1. Check the Feel of the Paper

The texture of real currency is distinct because of the special paper it is printed on. When you’re holding an authentic banknote, feel the bill and note the difference in texture compared to fake money.

2. Examine Borders and Printing

Another tip is to inspect the borders and edges of bills. Counterfeit money often has uneven or blurry printing. A counterfeit U.S. bill may even appear crooked. On the other hand, legitimate currency will have crisp, well-defined edges.

3. Check for Labels and Typos

Theatrical currency can appear to be legitimate to the naked eye. Look closely for verbiage like, “For Motion Picture Purposes” or “COPY” printed along the bill as well as misspelled words.

4. Look For Red and Blue Threads

Real U.S. bills have embedded red and blue threads in the paper. You’ll know a bill’s fake when it has printed or missing threads instead. Thus, looking for the proper-colored threads is a quick authenticity check to distinguish fake money vs. real money.

5. Inspect Serial Numbers

When learning how to check for counterfeit money, you should also pay attention to the serial numbers shown on bills. The serial numbers on a single bill should be the same. So, if you notice a bill has mismatched serial numbers, it’s another good indication that it’s counterfeit.

6. Check For Security Threads

When you’re learning how to spot fake money, looking for the security thread – and ensuring it’s in the proper location – is highly important. You should only see it when you hold the bill up to the light. If it’s on the wrong side of the face for the denomination, it’s likely fake. Since 2009, $100 bills have featured a blue security ribbon woven into the paper — not printed on it. Make sure to look for this feature when accepting a $100 bill, tilting the banknote to ensure the holographic images shift in the blue ribbon.

7. Look For Ink Bleeding or Smudging

Inspect all bills for ink inconsistencies that may indicate it’s fake, such as bleeding or smudging. These are signs of poor printing quality, as real currency does not have ink that will react in this manner.

How to Protect Your Business from Counterfeit Money

Cash handling procedures for restaurants, retailers, and other types of cash-heavy businesses should consider including the above authenticity checks. Taking proactive steps like proper staff training can help safeguard your business from counterfeit bills.

Click here for a visual of signs to look for.

These helpful hints to aid in detection of counterfeit currency do not guarantee the genuineness of any banknote.

This article is a summary of the following: https://integratedcashlogistics.com/how-to-spot-counterfeit-money/

5 Ways to Teach Kids About Money – Aug. ‘25

The start of a new school year offers more than a fresh supply list – it’s also a good time for families to revisit financial habits at home. With rising costs impacting everything from classroom supplies to after-school activities, helping kids understand how money works can set them up for a stronger financial future.

1. Start with a regular allowance – Whether it’s tied to chores or not, allowing kids to “earn” a consistent allowance can be a great way to teach responsibility. Work with them to create a simple plan for how they’ll use their funds, such as dividing it into spending, saving, and giving using the three-jar method.

2. Set a savings goal – Encourage your child to save for something meaningful, such as a special toy or upcoming event. Help them break the goal into weekly amounts to show them how savings add up over time.

3. Talk through “needs vs. wants” – Back-to-school shopping is a great time to discuss the difference between needs and wants. Let your child help make purchase decisions based on a set budget.

4. Track spending with a basic tool – Whether it’s a notebook, spreadsheet or app, kids benefit from tracking where their money goes. Parents and kids should monitor transactions and savings growth together.

5. Match their savings – To encourage consistent saving, consider offering a match. For example, adding $1 for every $5 they save. This not only builds motivation but reinforces the long-term value of saving.

By teaching basic money habits early, families can help kids build confidence and make smarter financial decisions as they grow.

Learn More
To learn more about a WSB Student Checking Account, click here. To learn more about a WSB Student Savings Account, click here. Washington State Bank, Member FDIC.

FDIC-Insured - Backed by the full faith and credit of the U.S. Government 

These tips are provided by the Iowa Bankers Association.

Travel Tips for a Worry-Free Vacation- July ‘25

As summer travel heats up, Washington State Bank and the Independent Community Bankers of America (ICBA) share key tips to help travelers protect their finances and enjoy peace of mind on the go. From budgeting for the unexpected to securing your financial information, a little preparation can go a long way in making travel experiences safe and stress-free.

8 Financial Travel Tips from ICBA and Washington State Bank:

1. Notify your community bank of your travel plans to avoid account holds or declined transactions when unusual transactions are presented for processing.
2. Carry a chip-enabled card, particularly if your travel plans take you overseas where chip technology may be a prerequisite for card acceptance.
3. Bring backup payment methods in case one is misplaced or restricted. Families or couples can carry different cards for added security.
4. Create transaction alerts for credit and debit cards so you can respond quickly to unusual activity. If you suspect fraud, contact your bank and credit card providers immediately.
5. Check card readers for signs of tampering. When in doubt, choose another terminal.
6. Lock away valuables such as passports, backup credit cards, financial information, and cash.
7. Use social media with care. Posting your pictures or whereabouts during travel could leave you susceptible to security risks back home.
8. Monitor account activity. Regularly check for unauthorized transactions and when you return home, review your statements. Save your receipts to compare with your charges.

Planning for financial security during travel is just as important as packing your bags. Contact Washington State Bank for guidance on preparing your finances and travel safeguards before setting out this summer.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.  

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

How Scammers Try to Steal Your Life Savings - June '25

Tips to Save for Homeownership – May ‘25

Buying a home can be stressful regardless of the stage of life you’re in. When you start planning to buy a house, it can be intimidating to think about how much money you must save. However, once you start down the path, it may seem easier than you originally thought.

Set a goal

When you begin to consider buying a home, it’s important to determine an affordable price range for your house hunt. Homebuying costs, such as the down payment and closing costs, are often expressed as a percentage of the home price. With a purchase price in mind, you can set a specific savings goal.

Start by ensuring you’re financially ready to make such a large purchase. Factors to consider include your total savings, total debt, and credit history. These factors will help determine your qualifying loan amount, interest rate, and how much you can afford as a down payment.

When it comes to down payments, the more you can pay up front, the lower your payments and the higher your equity. Savvy homebuyers put down 20%. This isn’t a requirement, but doing so could help reduce the interest rate on your mortgage and help you avoid costly private mortgage insurance. In addition, consider closing costs and moving expenses when thinking about your savings goal. Between moving expenses, home furnishings, and any potential mishaps that may arise, it is important to plan to have extra cash on hand to cover these expenses.

Find your savings goal by adding up rough estimates for each expense — down payment, closing costs and other cash to have on hand.

Tighten your budget and save any extra cash

To attain that goal, create a plan. Start by minimizing other expenses. Compare car or health insurance rates to find the best deal. You might also be able to save by researching and finding lower-cost options for services you need such as your internet or cell phone plan. In addition, make sure you cancel subscriptions you’re not using.

When extra money comes your way, save instead of spending. Whether it is from a gift or extra income, be sure to put it into savings.

Keep your savings in a separate account

When you’re saving to buy a house, you want your money to work harder for you by depositing it in an interest-bearing account. Use an account's annual percentage yield (APY) to compare options. A higher APY means your money grows faster. Typically, the best options are high-yield savings accounts, money market accounts, or certificates of deposit. Talk to one of our Personal Bankers to discuss what the best option is for you.

Saving to buy a home may feel like an uphill climb. However, small actions add up and make a difference. Washington State Bank is here to help you reach your goal of purchasing your dream home.

Empowering Financial Futures: Highlighting the Importance of Financial Literacy - Apr. '25

Washington State Bank and the Independent Community Bankers of America (ICBA) are celebrating Financial Literacy Month in April by encouraging Americans to take control of their financial future and learn fiscally responsible habits that can benefit them at every age and stage of their financial journey. Twenty-seven percent of Americans report that “just getting by financially or finding it hard to get by” describes them completely or very well. Meanwhile 59% want financial advice, but only a third (32 percent) turn to registered financial advisors for help, despite the fact that 68 percent indicated a

Often referred to as America’s favorite lenders, community banks are financial experts with a wealth of knowledge and local expertise to help consumers with:

• Budgeting to help you track income and expenses and build a plan to manage your finances, reach your financial goals, and create a nest egg.
• Saving and investing to help you assess savings and investment goals and vehicles.
• Using credit to establish and maintain good credit so you can reap the benefits from this convenient and flexible form of payment without the consequences of mismanagement.
• Understanding debt load and available options like debt consolidation before taking out a loan.

“Understanding key financial principles, like budgeting and managing credit wisely, is essential for achieving long-term financial security," ICBA President and CEO Rebeca Romero Rainey said. "Community banks like Washington State Bank are trusted advisors, offering the local expertise and personal connections that help individuals achieve financial independence."

ICBA also offers financial literacy programs through community bank partners including Visa’s Practical Money Skills, the FDIC’s Money Smart initiatives. To find one of our community bank locations in your area visit, banklocally.org.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.  

As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.

Avoid the Temptation of Smishing Scams – Mar ‘25

Most people are aware of phishing – or email scams – but they may not realize scammers can also target them with deceptive text messages sent to their smart devices. It's called "smishing": a mashup of SMS – for "short message service" – and phishing.

A typical smishing scam message may seem like it's from a bank – maybe even WSB – and include a link or phone number to bait you into clicking or calling. If you do, you stand a good chance of being hooked. And that's when the scammers get to work, manipulating your personal information, which they can sell and/or use in other scams. Fraudsters may also try to entice you into downloading malware to your device.

Things you can do to avoid being a victim of a smishing attempt include:

• Never click links, reply to text messages or call numbers you don't recognize.
• Do not respond, even if the message requests that you "text STOP" to end messages.
• Delete all suspicious texts.
• Make sure your smart device OS and security apps are updated to the latest version.
• Consider installing anti-malware software on your device for added security.
• Protect any sensitive personal information - bank accounts, health records, social media accounts, etc. - by using multi-factor authentication to access it. 

Validate any suspicious texts. If you get a text purportedly from a company or government agency, check your bill for contact information or search the company or agency's official website. Call or email them separately to confirm whether you received a legitimate text. A simple web search can thwart a scammer.

Bottom line: Stop before you engage and avoid the urge to respond. According to the FBI, Americans lost more than $1.4 billion to cybercrime in 2017, and a significant portion of that is attributed to personal data breaches, identity theft, confidence fraud and credit card fraud totaling hundreds of millions of dollars.

If you think that you are a victim of smishing, you should contact law enforcement to report the scam. You can also file a complaint with the FCC at no cost. Read the FCC Complaint Center FAQ to learn more about the FCC's informal complaint process, including how to file a complaint, and what happens after a complaint is filed.

Additionally, you can file complaints about consumer fraud with the Federal Trade Commission.

This article was provided by the Federal Communications Commission.

“Avoid the Temptation of Smishing Scams.” Federal Communications Commission, Bureau/Office: Consumer and Governmental Affairs, 1 Feb. 2024, www.fcc.gov/avoid-temptation-smishing-scams.