Q: Are my deposit accounts FDIC insured?
A: Yes! Checking, Savings, Certificates of Deposit (CDs), and IRA accounts are generally insured by the FDIC up to the legal limit of $250,000 and sometimes even more for special kinds of accounts or ownership categories. For more information on deposit insurance we have FDIC brochures available or you can visit the FDIC's website at www.fdic.gov.
Q: How do I set up Direct Deposit of my payroll check?
A: After your checking application has been approved, 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.
Q: How do I set up Direct Deposit of my Social Security check?
A: After your checking application has been approved, you will receive our routing and transit number and your account number. Simply contact Social Security Administration and have your Social Security Number and account information available to set up your direct deposit right over the phone. If you would like us to assist you in the process, please see one of our Personal Bankers.
Q: Can I get information about my account by phone?
A: Yes! Account information is available with our Customer Service Representatives during business hours. Or ask about Mobile Banking or our Voice Response System for automated account information 24 hours a day.
Q: Can I open an account if I don't live in the United States? What if I live in the United States but I am not a citizen yet?
A: At this time, we only accept applications from persons residing within the United States with valid U.S. tax identification numbers (Social Security Numbers). If you have questions, contact us.
Q: Can I do all of my banking with you?
A: Yes! Thanks to the convenience of Direct Deposit and ATMs, everyday banking activities can be performed on your own time. Contact us with questions about your banking needs.
Q: Can I look at my transactions at any time?
A: Yes! With our Electronic Banking Services, you have access to your account information 24 hours a day, 7 days a week.
Q: How frequently is my information updated?
A: Your account information is updated in real time every business day with new transaction as they post to your account.
Q: Are wire transfers possible to and from my checking account?
A: Yes! Funds can be transferred to and from accounts by wire transfer or via ACH (Automated Clearing House) debits or credits. Contact us for details.
Q: When do I have access to use Electronic Banking?
A: With Electronic Banking, you have access to your account information 24 hours a day, 7 days a week!
Internet Banking Questions
Q: What is Internet Banking?
A: Internet Banking is a tool that allows you to use a personal computer with an Internet connection to conduct your banking online.
Q: What can I do with Internet Banking?
A: You can view account balances and transaction history, transfer money, and download transactions to a personal financial manager and much more. Check out the Internet Banking Demo to see all the features of Internet Banking and how you can personalize your Internet Banking experience.
Q: How current is my banking information?
A: Your account information is updated in real time every business day with new transactions as they post to your account.
Q: What accounts will I be able to access through Internet Banking?
A: You can access your Checking, Savings, CDs and Loan accounts from the Internet Banking service. Our internet Banking product is intended to give you as much access, security and versatility as possible.
Q: What formats can I download my transaction history in?
A: Internet Banking supports downloads to Quicken®, Microsoft® Money, or as a comma-delimited text file.
Q: Can I schedule future transfers?
A: Recurring and future transfers can be scheduled to occur between your LincolnWay Community Bank accounts.
Q: When can I use Internet Banking services?
A: With Internet Banking, you have access to your account information 24 hours a day, 7 days a week!
Q: Is there a demo available for me to try?
A: Yes, the link to view the Internet Banking Demo is located in the Internet Banking Log In window on our website homepage.
Q: What is required to use the Internet Banking Service?
A: All you need to use Internet Banking is a secure browser that supports 128 bit encryption, such as Microsoft Internet Explorer®, Netscape Navigator®, or America Online®. You can use any computer that has Internet access.
Q: How do I access Internet Banking?
A: You must first complete the Internet Banking Enrollment Form. You can enroll online or by coming into the bank to apply in person. Once your enrollment form and signature authorization are received we will process your request. We will email you notification when your accounts are ready to be accessed, usually within 1-3 business days. You must have an existing checking account before banking online.
Q: What happens if I forget or lose my password?
A: You have the ability to reset your own password online from the Internet Banking Log-In page or, if you like, just call us and we will take you through the steps needed to get back into the system.
Online Bill Payment Questions
Q: What is online bill payment?
A: Online Bill Payment is a service provided through the Internet Banking Service that allows you to make payments to businesses and individuals without writing a check.
Q: Is it possible to schedule recurring payments?
A: Yes. You can schedule weekly, semi-monthly and monthly recurring payments. The final payment of a recurring payment scheme is designated by a "Final Payment Date".
Q: How do I register for online bill payment?
A: You can sign up for Online Bill Payment at the same time you enroll in Internet Banking by simply designating your checking account as a bill payment account. If you are currently using Internet Banking without bill payment service, please call a Customer Service Representative at 815-462-4300 to get started.
Q: When I add a new payee to my bill payment account, or change my account number, how quickly will the change take place?
A: When you update the information for the bill payment account, the changes are implemented virtually instantaneously.
Q: When is bill payment available?
A: You can schedule payments 24 hours a day, 7 days a week.
Q: Are my bill payment transactions reflected as Internet Banking transactions?
A: All bill payment transactions become part of the Internet Banking transaction history and show up in personal financial management applications when the transaction history is downloaded.
Q: Can bill payment be used when I am out of the country?
A: Bill payment provides you with peace of mind when you are traveling for an extended period of time. All you need is access to the Internet with a secure browser and you can pay your bills while out of the country. Payees must be located within the 50 United States and Territories.
Q: Is there a limit to the number of bill payment accounts I can set up?
A: Yes, you are limited to one bill payment account.
Q: Who can be paid using the bill payment system?
A: Anyone in the 50 United States and Territories who can accept a check can be paid using the bill payment system. You can pay practically anyone - charge accounts, utilities, auto loans, professionals, even a lawn service or a relative. However, tax payments (such as federal, state and local) and court directed payments (such as alimony and child support) cannot be processed through our online bill payment system.
Q: Can I pay my bills on the weekend?
A: You can set up your payments during the weekend. However, the system will prohibit your from scheduling a single payment and the first of a recurring payment on the same weekend. This is because payments scheduled for the weekend are always processed on the Friday before. Therefore, when scheduling payments on a weekend, the first day for which you can schedule payments (single or recurring) is the first business day following the weekend. Generally, single or recurring payments that fall on a Saturday, Sunday or bank holiday are processed on the previous business day and are debited from your account within two business days. If a bank holiday falls on either a Friday or Monday, the debit will occur within three days.
Q: If I schedule multiple payments for a single day, how will my account be debited - as a lump sum or separately?
A: Each bill payment is debited separately.
Q: How is my account debited?
A: Your account is debited via ACH (Automated Clearing House).
Q: What is ACH (Automated Clearing House)?
A: Automated Clearing House is a funds transfer system which provides for the interbank clearing of electronic entries for participating financial institutions.
Q: If I make an error in selecting an electronic payee and it results in a late fee, am I responsible for the charges?
A: If you select an electronic payee with an address that is different from that indicated on the payment coupon, then you are responsible for the late fee. You always have the option to manually enter a different address for a payee. If you select an electronic payee with the address that matches that indicated on the payment coupon, and M&I routes the payment incorrectly, then Metavante will take responsibility for the late fee.
Q: How do I place a 'stop payment' on a bill payment?
A: A payment may be edited or deleted anytime before the "process date". Payments that have been remitted electronically cannot be stopped.
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