Consumer Payment Card News

Y2K Anti-Panic Tips

Are you worried about the Y2K bug? Maybe even feeling a little panicky?
The electronic financial services industry has been working on the Y2K challenge for years. The federal government has given top priority to making sure the banking and electronic financial services industries are Y2K ready. With a little common sense, you can prepare yourself, too.

While concern over the potential Y2K problem is legitimate, keeping a level head will go a long way in helping individuals get their personal accounts ready for the year 2000. Star System Inc., the nations largest electronic payments system, offers a few sensible tips:

–Be sure to keep copies of all 1999 banking statements and ATM and point-of-sale receipts.

–Ask all financial institutions you do business with what preparations they have made to be Y2K ready;

–Realize that financial organizations have Y2K contingency plans to ensure key systems function should any problem occur;

–Dont withdraw all money from checking and savings accounts in anticipation of January 1, 2000. However, plan to have as much cash on hand as needed for an extended weekend, just in case of ATM interruptions; and

–Dont panic. If your favorite ATM doesnt work on January 1, it just may be out of cash, or have some other simple problem. Report the problem and go to another nearby ATM or a merchant that offers cash back to make the withdrawal.

Star System offers more information for being Y2K ready on their Web site

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