Your Banking Questions Answered - WALB.com, Albany News, Weather, Sports

Your Banking Questions Answered

ACCOUNT ACCESS

Can I get information about my account by phone?
Yes. Account information is available with our Personal Bankers During business hours at any of our offices or ask about our automated account information 24 hours a day. You can contact a personal banker at 430-7000.

Can I have access to all of accounts via the internet?
Yes. With Online Banking, you have access to your account information 24 hours a day. To sign up for online banking, call OnLine Access Support at 1-866-518-4721 or click here.

DEPOSITS

Are my deposits FDIC insured?
Yes. The FDIC insures deposits up to an aggregate of $100,000 per individual and perhaps more if accounts are held in different ownership capacities, i.e. individual, joint, retirement and testamentary.

How do I set up Direct Deposit on my payroll check?
After your checking account has been opened, you will receive our routing and transit number and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company, and your direct deposit will usually begin within thirty days.

How do I set-up Direct Deposit of my Social Security check?
After your checking account has been approved, you will receive our routing and transit number and your account number. Simply contact the Social Security office at 800-772-1213 and have your Social Security Number and account information available to set-up your Direct deposit right over the phone.

LOANS

What is a home equity loan?
A home equity account is a smart tool for managing one of your largest assets –– your home. With potential tax advantages and lower rates than most other types of credit, a home equity loan or line of credit can be an important financial resource for meeting large expenses.

What is the difference between a loan and a line of credit?
A loan is an amount of money that you borrow for a specified length of time. You make fixed monthly payments, which reduce the amount of the loan until it is paid in full. A line of credit is an open-ended revolving credit line with a specified credit limit. It is similar to a credit card account, except you access the funds directly rather than with a plastic card. Your payment is based on the amount of the line you have used. The account is always available to you up to your pre-assigned credit limit.

OVERDRAFT PROTECTION

What is overdraft protection?
An overdraft occurs when the balance of your checking account is negative, resulting from writing a check or checks for an amount that total more than the balance in your account. With overdraft protection, your line of credit is linked to your Checking account so that, when an overdraft occurs, funds are automatically transferred in increments to cover the negative balance.

How do I apply for overdraft protection?
To apply for overdraft protection, just request this option when you apply for your checking account. If you wish to add overdraft protection to an existing checking account, please call a Personal Banker at 430-7000.

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