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Bank Closed

All branches of WCF Financial Bank will be closed on Monday, October 9, 2023 in observance of the Columbus Day holiday.  All business transacted after 5 pm on Friday will be processed on Tuesday, October 10th.  WCF will resume our normal business hours on Tuesday, October 10th.  

Branches Closing Early

Our Tama branch and Webster City branch including the drive-up will be closing at 3:00 on Wednesday, October 4th to allow for staff training.  These branches will be open for normal business hours on Thursday, October 5th.  

Did someone insist you pay them with cryptocurrency?

By:  Kira Krown, Consumer Education Specialist, FTC

What’s one of the best ways to spot a scam? Know how scammers tell you to pay. Scammers want you to pay them in ways that are hard to trace and hard to get your money back: like through a gift card, wire transfer, payment app, or cryptocurrency. Here, we’ll focus on that last one — cryptocurrency — and how to avoid cryptocurrency-related scams.

Let’s start at the beginning: cryptocurrency is digital currency you get through an app on your phone, a website, or at a cryptocurrency ATM. Bitcoin and Ether are some of the most well-known, but there are lots of others. Scammers like to use cryptocurrencies because they don’t have the same legal protections as credit or debit cards, and payments usually can’t be reversed.

So, what do scams that involve cryptocurrency typically look like? Scammers may call, pretend to be from a government agency and say you need to pay a fine — using cryptocurrency. Or they may pose as an online love interest who needs you to send money for an expensive medical procedure — using cryptocurrency. Or the scammer may offer you a job, but say you need to pay a fee before you get hired — using, you guessed it, cryptocurrency.

To avoid these and other scams, know that:

  • Only scammers demand payment in cryptocurrency. No legitimate business  or government agency is going to demand you pay with cryptocurrency — not to buy something, pay taxes or fines, and not to “protect” your money. That’s always a scam.
  • Never pay a fee to get a job. If someone asks you to pay upfront for a job — with cryptocurrency or any other type of payment — or says to buy cryptocurrency to get a job, it’s a scam.
  • Never mix cryptocurrency and online dating. If you meet someone through online dating who asks you to send them cryptocurrency or wants to “help” you invest in crypto, that’s a scam.

Spot a cryptocurrency scam? Report it to the FTC:

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