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Magyar Savings Bank

Address
109 French St New Brunswick NJ 08901
Phone
(732) 246-7702
magbank.com
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Average Rating
1
Total Reviews
(1)
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Contact Us

Fax
(732) 249-2098

Business Hours

Status: Closed

Sunday
Closed
Monday
9:00am-4:00pm
Tuesday
9:00am-4:00pm
Wednesday
9:00am-4:00pm
Thursday
9:00am-4:00pm
Friday
9:00am-6:00pm
Saturday
9:00am-2:00pm

Payment Methods

  • Visa
  • MasterCard
  • American Express
  • Discover
  • Cash
  • Check
  • PayPal
  • Debit

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YellowBot member reviews (1)

YellowBot User
Reviewed Business
Magyar Savings Bank
Reviewer Name
Melissa Solomon Newman
Review Date
July 16, 2014
Average Rating
1

Small Business Customers Stay Away From Magyar Bank

Do not use Magyar Bank for a Small Business Checking Account. Magyar refuses to honor MasterCard protections that MasterCard says are available to Small Businesses using a MasterCard Debit Card. Even though MasterCard says that Small Business Customers have Zero Liability in using a MasterCard Debit card, Magyar insists that Small Businesses are 100% liable for all fraud through the MasterCard Debit Card. Go with a bank that actually stands by the MasterCard name, and the MasterCard's protections are guaranteed.

From MasterCard's website:

Zero Liability Protection

Have peace of mind knowing that the bank that issued your MasterCard won't hold you responsible for "unauthorized transactions." Zero liability applies to transactions made in the store, over the telephone or online. As a cardholder, you will not be held responsible for unauthorized transactions if:

your account is in good standing;
you have exercised reasonable care in safeguarding your card from loss or theft; and
you have not reported to your bank two or more unauthorized use events in the past 12 months.
If these conditions are not met and you suspect that you have an unauthorized transaction on your MasterCard, contact your bank as additional protections may apply.

Zero Liability does not apply to MasterCard payment cards:
used for commercial, business or agricultural purposes (PLEASE NOTE: Zero Liability does apply to MasterCard credit and debit cards for small businesses);
anonymous prepaid cards, such store or gift cards, until such time as the identity of the cardholder has been registered with the financial institution that issued the card; or
if a PIN is used for the unauthorized transaction.
What to do

If you have questions regarding Zero Liability coverage or you suspect unauthorized use of your card, contact your bank IMMEDIATELY.

For the application of Zero Liability outside of the United States, check your MasterCard country site.

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Business description (3) view all

Magyar Savings Bank is located at 101 French St, New Brunswick, NJ. This business specializes in Banks.

Magyar Savings Bank offers checking and savings accounts, CDs, IRAs and retirement accounts, student accounts, brokerage, commodity and stock services, ATM, asset management, venture capital and debit, credit and pre-paid cards. It also provides commerical and residential mortgages, home equity and refinancing, student loans, auto loans, insurance, and annuities and financial planning...

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