COVID-19: Latest news regarding account assistance and other updates.

I see the Visa logo when I’m going through the extra check. What’s this about?

If you do encounter this extra verification step, Visa helps transmit the information being shared between the merchant and us. The logo is there to give you peace of mind that the transmission is secure.

If I do encounter this extra verification step, what will the extra check be?

Banesco USA has a number of tools that can help verify your identity such as one-time passcode. If you encounter this extra step, simply follow the instructions on your screen to verify your identity.

What happens when I finish shopping?

When you are finished shopping, proceed to the merchant’s checkout page. As you complete the transaction, you may be prompted to verify your identity if additional authentication is required. It’s important to take special precautions when shopping online. This extra verification step helps ensure the person using your card is you.

Can I still use my Banesco USA Visa® Debit Card at online merchants that are not participating in this program?

Yes, your Banesco USA Visa® Debit Card will continue to work as usual if the merchant is not participating in this program. Your transaction will still be protected by multiple layers of security and zero liability for fraudulent purchases.

Lastly, if you see the following Visa Secure badge on participating online merchants’ websites this also indicates the use of this service.

How will I know if my online purchase has this added layer of protection?

This service will automatically work at checkout at any of Visa’s participating online merchants. Remember, there’s no need to download anything, install software, or register for an account to get this added layer of protection. When using this service, you may occasionally be prompted at checkout to verify your identity, but this is to ensure you’re you and protect you from fraud.

Does this service cost me anything?

No. There are no costs associated with this service.

Is my personal information safe and secure?

Yes. Your information is safe and stored on a secure server.

What is the benefit?

Through this program, you have an added layer of protection that helps prevent the unauthorized use of your Banesco USA Visa® Debit Card while shopping online. This service helps us know you’re really you and most importantly it protects you from fraud.

How are my online purchases secured with Visa?

Visa has developed a program that helps confirm your identity when you make an online purchase. There’s no need to download anything, install software, or register your account. During an online purchase from your desktop, mobile, or other digital devices, you may be guided through an extra check to verify your identity. This helps us ensure you’re you and better protects you from fraud. This is one way, Banesco USA and Visa have teamed up to secure your account(s).

Can you use PPP to pay 1099 contractors?

Yes.

My rent is more expensive than my payroll. The program specifies 75% of the forgivable amount should apply to the loan, what would be my best approach?

The CARES Act makes possible forgiveness for non-payroll costs in excess of 25% of total forgiveness if employees are re-hired by June 30.

Define “monthly payroll costs” in order to calculate the loan amount? Can benefits including healthcare insurance costs be included?

  • Compensation (salary, wage, commission, or similar compensation, payment of cash tip or equivalent)
  • Payment for vacation, parental, family, medical or sick leave
  • Allowance for dismissal or separation
  • Payment required for the provisions of group health care benefits, including insurance premiums
  • Payment of any retirement benefit
  • Payment of state or local tax assessed on the compensation of employees.

Since non-profits hire 1099 contractors for consulting and other services, will these contractors be included in the PPP?

1099 are eligible.

Can you apply for both PPP and EIDL and if you get approved for both can you accept both?

Economic Injury Disaster Loans (EIDL) can be converted to PPP.

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