TRANSITION GUIDE. Important Changes to Your Business Account Member FDIC

Transcription

1 TRANSITION GUIDE Important Changes to Your Business Account For Essex Bank Business Customers transitioning to Community & Southern Bank

2 Transition Guide for Your Services Page Note: Table of Contents Transition Highlights Understanding the Transition Product & Service Overview Account Conversion Information Fee Schedule Locations Important Transition Details Additional Enclosures: Account Agreements % The guide is designed to highlight specific aspects of the transition that are important to you. Please review the agreements, notices and disclosures regarding your accounts and the financial services we can offer to you. Your New Community & Southern (CSB) Relationship On Tuesday, November 12, 2013, the transition of your business accounts from Essex Bank to Community & Southern Bank will officially be completed. Even though the name of your bank will change, you will still see the same professional, knowledgeable bankers you know and trust. The friendly, courteous service that has always set your bank apart will continue. You will have access to an innovative suite of business financial services, and find your dayto-day banking experience as familiar as your own hometown. Plus, you ll now be banking locally with a bank committed to investing in our communities every day. While you will notice some changes to your accounts, stability, integrity, service and commitment remain at the heart of CSB. Page 2

3 Transition Highlights We want you to experience a smooth transition with all of your deposit accounts and related services. To help you prepare, we have developed this easy-to-follow guide with a quick overview of key points. Please review this important information which will answer most of the questions you may have regarding your account transition. Some important information you may need and Actions you may need to take: Your account number(s) will not change unless you receive separate notification. You will not need to order new checks. You can continue to use your existing checks, deposit and withdrawal slips until you need to order more. If you are notified of your account number changing, a new order of checks will be provided to you at no charge. For your information the CSB routing number is: Your electronic transfers between your existing deposit accounts will continue without interruption. Business online banking from your previous bank will not be available as of 5:00 p.m. on Friday, November 8, Your new CSB Online Banking will be available by 8:00 a.m. on Monday, November 11, Should your User ID change, you will receive a separate notification. Otherwise, log in using your current User ID and password. Upon the first successful login, you will be prompted to select a security photo and be presented with security questions. If your business has contracted for any Cash Management Service, new agreements may be required. If so, you will be contacted by a CSB Specialist prior to the conversion. If you currently have e-statements, effective as of 5:00 p.m. on Wednesday, November 6, 2013, you will no longer have access to your historical estatements. Action: Be sure to download and/or print the last 12 months of statements from your Essex Bank online banking account(s). This will be critical should you need the data for tax purposes or other documentation. Prior to Tuesday, November 12, 2013, visit CommunityPlusBanking.com for details about the upcoming transition to your new online banking and Business Bill Pay services. If your business is using Merchant Services, there should be no change. If your business is using Remote Deposit Capture (RDC), you will be contacted by a CSB Specialist to assist you with a seamless transition prior to the conversion. Your current Business Visa Debit or ATM card will work through Friday, November 8, If you currently have one, you will likely receive your new Business CSB Visa Debit or ATM card the week November 4th. Action: Please do not activate your new CSB Visa Debit or ATM card until Saturday, November 9, If your card is not activated you will be unable to access your funds using your Visa Debit card until such time as the card is activated. You will receive a new PIN for your Business CSB Visa Debit or ATM card. For security purposes, your PIN will arrive approximately 2 to 3 days after your card. Page 3

4 Your New CSB Accounts % Understanding Your Transition During this transition, be assured we have created a comprehensive collection of products and services and given careful consideration in determining the accounts with the features and benefits that seem to best suit your needs. Information specific to your accounts is detailed in this package. If while reviewing the information in the pages that follow, you find a solution that is a better fit for your unique needs, visit one our locations after the transition is complete on Tuesday, November 12, 2013, or contact our Customer Care Center at , to speak to a CSB team member for assistance. Whether you want to open a new account, order checks or ask a question, our dedicated professional bankers are ready to assist you with your banking needs. On pages 12 & 13 you will find a branch listing and map to assist you in finding the nearest location. Customer Care Center At Community & Southern Bank we promise a positive customer experience, and we have a knowledgeable Customer Care team available to answer all of your requests by phone. To reach the Customer Care Center, dial During the transition weekend of November 8 11, our Customer Care Center will have expanded hours of operation to provide you assistance during this crucial period: Friday, November 8: 8:00 a.m. 7:00 p.m. Saturday, November 9: 8:00 a.m. 4:00 p.m. Sunday, November 10: 10:00 a.m. 2:00 p.m. Monday, November 11 (Veteran s Day): 8:00 a.m. 5:00 p.m. Normal Customer Care Center Hours: Mon Thurs Friday Saturday 8:00 a.m. 5:00 p.m. 8:00 a.m. 6:00 p.m. 8:00 a.m. Noon Page 4

5 Your New Website Product & Service Overview Following the transition, your online resource for valuable information on products and services options will be. Visit to learn more about our comprehensive financial services, the branches in your area, and discover what s new at Community & Southern Bank. Online Banking Beginning at 5:00 p.m. on Friday, November 8, 2013, you will no longer be able to access your deposit account information on the Essex Bank internet site. Also, during the transition weekend of November 8-12, CSB s online banking service will be periodically unavailable to allow us time to transfer your account information. We understand the inconvenience this will cause and ask for your patience. The online banking transition will be complete by 8:00 a.m. on Monday, November 11, Access your new business online banking account at. You may notice a slightly different look; however, you will still be able to check balances, transfer funds, pay bills and more. Business Online Banking is an Internet-based information reporting and transaction initiation service. mycsbonline provides: Available Balance Current Day - transaction detail for electronic activity Activity on checking, money market and loans 180 days Stop Payments Image of paid items Multiple users Note: Documentation requirement: Electronic Services Agreement Page 5

6 Product & Service Overview % Bill Pay CSB s Business Bill Pay is your new online bill pay service, featuring a different look than what you may be accustomed to. Please check online at CommunityPlusBanking.com as we near the transition weekend for updates to the process and next steps for setting up your online bill pay service. We understand how important this convenience is to you, and your satisfaction is important to us. As we transition your electronic services to a new system, there are some things you ll need to know to prepare in advance about banking and paying your bills online. Please review the important information to follow. Prepare in advance for this transition by taking these steps: Action: Schedule or edit any payments which are due between Friday, November 8, 2013, through Tuesday, November 12, 2013, by 1:00 p.m. on Thursday November 7, Action: Download Bill Pay history - Review all bill payments you currently have set up in Bill Pay to determine if alternative payment methods are needed during the transition period and to prepare for reviewing your account after the transition is complete. During the transition period, from 1:00 p.m. on Thursday, November 7 through 8:00 a.m. on Monday, November 11, you will not be able to change, delete, schedule new payments or make modifications to payee information. Once the transition is completed, you will be able to access your payments, payees and payment history. Page 6

7 Product & Service Overview Business Online Bill Pay and Business PaymentsPlus from Community & Southern Bank is the simple way to handle your business transactions online. A better way to pay Make payments more quickly and easily and gain greater control over cash flow Pay multiple invoices for a single payee all at one time and account for them as a single payment with the Business PaymentsPlus added feature Easily set up recurring payments for monthly bills Delegate tasks and set permission controls (Have the flexibility to control access of users you grant access) Delegate payment tasks as needed Set up approval process Set dual account signature requirements Create invoices online (Business PaymentsPlus) (Create customized electronic delivery via or print and mail) Set up electronic invoices with your logo Post payments and manage receivables Receive automated notices for invoices that need to be printed, unpaid invoices, unfinished invoices or delivery failures Direct Deposit of Payroll (Business PaymentsPlus) (Offered to business customers via our Business Online Banking Cash Management Service) Reduces opportunities for fraud Improves cash flow forecasting Employees receive immediate availability of funds no holds on electronic transactions Eliminates employee trips to the bank on company time Note: Documentation requirement: Electronic Services Agreement, self enrollment Page 7

8 Product & Service Overview Cash Management Services 1. ACH Origination Service is an electronic funds transfer system using the Federal Reserve s Automated Clearing House (ACH). This cost-effective system is designed to transfer funds between banks. 2. Electronic transactions from one financial institution to another, ACH can provide the following: Consumer Credits and Debits (Direct Deposit of Payroll) Corporate Payments or Cash Concentration Improves cash flow Reduces paper flow Next day availability of funds Note: Documentation requirement: Electronic Services and ACH Origination Agreement. Credit approval required 3. Online Wire Transfer through our Business Online Banking Cash Management service, you can send wire transfers and create and maintain wire templates to ease your payment processing. Note: Documentation requirement: Electronic Services and Funds Transfer Agreement 4. Positive Pay is a method to reduce check fraud against your business accounts. Positive Pay works in the following manner: Customer uploads to the bank a list of checks written The bank compares this information against the MICR line information for the check presented for payment If a discrepancy is found, the check information and the reason for the discrepancy (exception) is made available for review and requires a decision to pay or return Note: Documentation requirement: Electronic Services and Positive Pay Agreement 5. Zero Balance Account (ZBA) is a technique which centralizes your funds into a single account giving you more control and full management of your cash. This is a commercial checking account where the balance is brought to zero each day via an automatic transfer to or from a master account. Deposits and disbursements continue to flow through separate accounts for audit and functional purposes while balances are consolidated for maximum efficiency Page 8

9 (Cash Management Services - continued) Product & Service Overview 6. Sweep Account Service is an end-of-day solution for maximizing cash. Each day your account activity is systematically reviewed to determine if you have funds available to pay down on your line of credit or if you need to draw from the line of credit to cover disbursements, eliminating potential overdrafts. This system is designed to maximize your dollars and provide you with complete control over your liquidity. Advances and pay-downs are rounded to even $1,000 for easy accounting Daily calculation will minimize your interest expense 7. Remote Deposit Capture enables your company to scan, image and transmit checks for deposit electronically from the convenience of your office. Begin preparation as normal by totaling the amount of the deposit A virtual endorsement and deposit ticket are created for each deposit The system balances the checks to your deposit total Once deposit is in balance Deposits can be made into multiple accounts with a frequency determined by your need. Note: Documentation requirement: Remote Deposit Agreement, credit approval required 8. Merchant Services program provides you quicker access to cash by enabling you to process a variety of payment methods quickly and easily, whether debit or credit, checks or gift cards. Process Visa, MasterCard, American Express, Discover, Diners Club cards Verify and process checks electronically Equipment and software customized to your needs Professional set-up and training assistance Online reporting Customer service help available 24/7 Page 9

10 24 Hour Phone Banking Product & Services Overview On Monday, November 11, 2013, at 8:00 a.m., the telephone number for 24-hour automated telephone banking will change to You will be able to check balances, review transaction history, transfer funds and verify checks all from your phone. The first time you call in you will be guided through the easy enrollment process. Reporting a Lost or Stolen Debit or ATM Card On Saturday, November 9, 2013, the telephone number to report a lost or stolen debit card will change to Loans and Lines of Credit If you have a Loan or Line of Credit with Essex Bank, that relationship will remain with Essex Bank. You do not need to make any changes to your existing account unless you have your payments set up as an automatic transfer from your Essex Bank deposit account. In that case you will need to set up the payment in your new bill payment product at CSB. Action: Automated loan payments drafted from your checking or savings account will need to be changed to a bill payment from your online account at CSB after conversion is complete on Monday, November 11, Mortgage % Your mortgage loan will also remain an account held with Essex Bank. Deposit Statements You will receive your statement in a slightly different format. A separate, easy-to-follow monthly statement for each checking account will be mailed to your address on file. Savings statements are sent quarterly unless there has been account activity, in which case the statement will be sent monthly. Action: If you have estatements, be sure to download and/ or print the last 12 months of activity on your Essex Bank account(s) prior to Friday, November 8, Page 10

11 Account Conversion Information Checking Accounts Checking Accounts Your Current Account Commercial Checking IOLTA Enterprise Checking Commercial Plus Checking Your NEW CSB Account Simple Business Checking Lawyer Trust NOW Advantage Business Checking Classic Business Checking Checking Accounts Minimum Balance to waive service fee $0 $0 $1,500 $1,000 Number of Free Items/Transactions Your Current Account 200 Commercial Checking All IOLTA 400 Enterprise Checking 500 Commercial Plus Checking Cost Your per NEW transaction CSB Account over Free Simple Business 0.25 Checking Lawyer Does Not Trust Apply NOW Advantage Business 0.15 Checking Classic Business 0.15 Checking Minimum Balance to waive service Earnings fee Credit Rate $0 Does Not Apply $0 Does Not Apply $1,500 Does Not Apply $1,000 Does Not Apply Monthly Number of Service Free Items/Transactions Charge 200 $0 $0 All $ $ Interest - Bearing No Yes Yes, Tiered No Free Cost per Online transaction Banking over Free 0.25 Yes Does Not Yes Apply 0.15 Yes 0.15 Yes Free estatement Free Earnings Telephone Credit Rate Banking Does Not Yes Apply Does Not Yes Apply Does Not Yes Apply Does Not Yes Apply Free Monthly Bill Pay Service Charge Basic, $0 Yes Basic, $0 Yes Basic, $10 Yes Basic, $10 Yes Free Interest Visa - Bearing Debit Card with unlimited No Yes Yes, Tiered No Available Available Available Available Free withdrawals Online Banking at CSB ATMS Yes Yes Yes Yes Free estatement Cash deposited/out Yes $10,000 Yes Cash deposited/out Yes $10,000 free Cash deposited/out Yes $10,000 Cash Free Telephone Banking free per statement Yes cycle, Does Not Yes Apply per statement Yes cycle, free per statement Yes cycle, Free Bill Pay then Basic, 0.12 per Yes $100 Basic, Yes then Basic, 0.12 per Yes $100 then Basic, 0.12 per Yes $100 Free Bounce Visa Protection** Debit Card with unlimited $600 Does Not Apply $600 Does Not Apply Available Available Available Available Fees withdrawals below are at CSB for Analyzed ATMS Business Checking Only Deposits Cash deposited/out $10,000 Cash deposited/out $10,000 free Cash deposited/out $10,000 Deposited Items On- Us Deposited Cash Items - Transit free per statement cycle, Does Not Apply per statement cycle, free per statement cycle, Deposited Items - Redeposited then 0.12 per $100 then 0.12 per $100 then 0.12 per $100 Deposited Bounce Protection** Items - Return $600 Does Not Apply $600 Does Not Apply Cash Fees below Deposited are for - per Analyzed $100 Business Checking Only Currency Deposits Purchased - per $100 Coin Deposited Purchased Items - On- per Us roll Checks Deposited Paid Items - Transit Electronic Deposited Credits Items - Redeposited Electronic Deposited Debits Items - Return Negative Cash Deposited Collected - per Balance $100 ** Currency Available Purchased for accounts - per that $100 already have Bounce Protection on the checking account. Coin Purchased - per roll Checks Paid Electronic Savings Credits Accounts Electronic Debits Negative Collected Balance Business Prosperity Money Your Current Account Prosperity Business Savings Market ** Available for accounts that already have Bounce Protection on the checking account. Your NEW CSB Account Business Savings Money Market Business Savings Accounts Minimum Balance to waive service fee Savings Accounts $200 $1,000 Quarterly Service Charge $5 Business Prosperity $10 Money Other Your Current Requirements Account Prosperity Business None Savings Market None Interest Your NEW CSB Account Business Yes, Single Savings tier Money Tiered Market Interest Business Free Minimum Online Balance Banking to waive service Yes Yes Free fee estatement $200 Yes $1,000 Yes Quarterly Free Telephone Service Banking Charge Yes $5 $10 Yes Other Free Visa Requirements Debit /ATM Card with None None Available Available Interest unlimited withdrawals at CSB ATMS Yes, Single tier Tiered Interest Free Online Banking Yes Yes Free estatement Yes Yes Free Telephone Banking Yes Yes Free Visa Debit /ATM Card with unlimited withdrawals at CSB ATMS Available Available Community First Checking Community First Checking No Change to current account No Change to current account Prominent Business Package 0.50 Fee outlined 0.08 below Does Not 5.00 Apply Prime % Prime + 3% Analyzed Commercial Checking Analyzed Business Checking $0 Analyzed Prominent Business Commercial Does Not Apply Package Checking Analyzed Does Business Not Apply Checking $0 Yes Does Not Apply Receives Earnings Credit Rate Does Not Yes Apply Yes Yes Does Basic, Not Yes Apply Receives Earnings Credit Rate Available Yes Yes Fee outlined Yes below Basic, Yes Does Not Apply Available Page 11

12 Fee Schedule SERVICE DESCRIPTION FEE Account Activity Printout...$3.00 Charge Back Deposit Items...$6.00 Copy of Cashier Checks or Money Order...$0.00 Copy of Paid Checks... Per item... $0.00 Early Account Closure days or less from opening... $25.00 OD/NSF: Bounce Paid Overdraft Fee... Per item... $35.00 OD/NSF: Nonsufficient Funds... Per item... $35.00 OD/NSF: Overdraft... Charge per each debit or check paid... $35.00 OD/NSF: Total Maximum Daily Charge... 5 overdrafts... $ OD/NSF: Total Maximum Daily Charge Business... No maximum on Business... Unlimited Continuous Overdraft Fee... Each 7 days up to 4 events... $35.00 Statement Reprint...$0.00 Stop Payment...$35.00 Sweep Transfer... Daily... $7.50 Account Reconcilement... Per hour... $25.00 Account Research... Per hour, one hour minimum... $25.00 Cash Services /$100 over $10, Deposited or Withdrawn in excess of $10, $0.12 Cashier s Checks... Per Item... $6.00 Collection Agency Fee... Upon closing for negative balance... $30.00 Collections - domestic... Each... $ foreign... Each... $15.00 Escheatment... Per account... $25.00 Garnishments...$50.00 IRA Transfer to Another Financial Institution or Entity... $0.00 Levies...$20.00 Night Deposit - Annual Service Fee...$0.00 Night Deposit - Bag Fee (Personal) $0.00 Night Deposit - Key Deposit $0.00 Night Deposit - Key Deposit Replacement... $0.00 Night Deposit - Purchase Key Lock Bag (Business)... $0.00 Notary Public... Per Seal... $0.00 Temporary/Counter Checks...$0.00 Check Cashing, non-customer... CSB xpress locations... Varies Verification of Deposit Form... Per Item... $0.00 Telephone Transfers (manual)...$0.00 SAFE DEPOSIT BOX FEES 2x5...$ x5...$ x5...$ x10...$ x10...$ x10...$ x10...$ x10...$ x10...$ x10...$ x24...$ Emergency Drilling...Actual Cost Forced Entry Fee...$ Key Replacement...$25.00 Late Charge Fee...$10.00 Page 12

13 Fee Schedule DEBIT CARD (ATM/VISA) FEES ATM & Visa Card Replacement (after first 2)...$6.00 ATM & Visa International Exchange Rate Conversion Fee % ATM Balance Inquiry...$1.00 ATM Withdrawal...$1.50 ATM Withdrawal (Foreign Customer)...$3.00 ONLINE BANKING FEES Business Online Banking...$0.00 Business Bill Pay...$0.00 Business PaymentsPlus...$25.00 WIRE FEES Wire Transfers (Business)... Incoming Domestic...$ Incoming Foreign...$ Outgoing Domestic...$ Outgoing Foreign...$50.00 BUSINESS ANALYSIS ACCOUNT Regular Account Maintenance...$12.00 Deposits...$0.50 Deposited items on-us...$0.08 Deposited Items...$0.08 Deposited items - redeposited...$3.00 Deposited items-return...$5.00 Cash deposited per $100...$0.10 Currency purchased per $100...$0.10 Coin Purchased per roll...$0.15 Checks Paid...$0.15 Electronic credits...$0.10 Electronic debits...$0.10 Negative Collected Balance... Prime + 3% Page 13

14 CSB Locations LOCATIONS Dalton Blue Ridge Blairsville Chatsworth Ellijay Dahlonega Cornelia Dawsonville Buchanan Tallapoosa Bremen Villa Rica Douglasville Canton Woodstock Alpharetta Cumming Sugar Hill Roswell 400 Marietta Dunwoody Norcross Corporate Office Brookhaven Braselton Buford Winder Grayson Snellville Loganville Athens Bowdon Carrollton Covington CSB Branch Essex Branch (Pending) Stand Alone ATM Page 14

15 CSB LOCATIONS Locations Rev. 10/2013 ATHENS 3990 Atlanta Highway Bogart, GA AUBURN 5 Main Street Auburn, GA BLAIRSVILLE 271 Hwy 515 W Blairsville, GA CHATSWORTH 1006 Highway 76 Chatsworth, GA CUMMING 1700 Marketplace Boulevard Cumming, GA DAHLONEGA 53 Mechanicsville Road Dahlonega, GA ROSWELL 900 Woodstock Road Roswell, GA STATHAM 1995 Atlanta Highway SE Statham, GA SUGAR HILL - Kroger 6001 Cumming Highway Buford, GA ADDITIONAL ATMS BREMEN Higgins General Hospital 200 Allen Memorial Drive CARROLLTON Crossroads Shopping Center 1301 South Park Street Marathon Kwick Stop 826 Newnan Road BLUE RIDGE 150 Orvin Lance Connector Blue Ridge, GA BOWDON 205 East College Street Bowdon, GA BRASELTON 2085 Hwy 211 NW Braselton, GA BREMEN 900 Atlantic Avenue Bremen, GA BROOKHAVEN 104 Town Boulevard, Suite A-110 Town Brookhaven Atlanta, GA BUCHANAN 3559 Business 27 N Buchanan, GA BUFORD The Plaza (Across from MOG) 3350 Buford Dr. Suite A100 Buford, GA CANTON 134 Keith Drive Canton, GA CARROLLTON MAPLE STREET 201 Maple Street Carrollton, GA CARROLLTON FIRST TUESDAY MALL 1004 Bankhead Highway Carrollton, GA DALTON 204 West Cuyler Street Dalton, GA DAWSONVILLE 4300 Dawson Forest Road E Dawsonville, GA DOUGLASVILLE HOSPITAL DRIVE 9001 Hospital Drive Douglasville, GA DOUGLASVILLE CHAPEL HILL 9360 The Landing Drive Douglasville, GA DUNWOODY 4800 Ashford Dunwoody Road Suite 100 Dunwoody, GA EAST ELLIJAY HIGHLANDS 19 Highland Crossing East Ellijay, GA ELLIJAY MAIN 829 Industrial Boulevard Ellijay, GA MARIETTA 1350 Church St. Ext #100 Marietta, GA MARIETTA xpress services only 270 Cobb Parkway S, Suite 170 Marietta, GA NORCROSS 5386 Jimmy Carter Boulevard Norcross, GA TALLAPOOSA 3408 Georgia Highway 100 Tallapoosa, GA VILLA RICA 725 West Bankhead Highway Villa Rica, GA VININGS/ATLANTA 3333 Riverwood Parkway Suite 100 Atlanta, GA WINDER HOLLY HILL 193 West Athens Street Winder, GA WINDER MAIN 76 North Broad Street Winder, GA WOODSTOCK 8770 Main Street Woodstock, GA CONVERTING ESSEX BRANCHES COVINGTON Highway 142 Covington, GA GRAYSON 2001 Grayson Highway Grayson, GA LOGANVILLE 4581 Atlanta Highway Loganville, GA SNELLVILLE 2238 Main Street East Snellville, GA Tanner Medical Center 705 Dixie Street Westover Square 927 Maple Street TEMPLE 184 Carrollton St. Temple, GA VILLA RICA Tanner Medical Center 707 Dallas Highway WINDER Barrow County Courthouse 652 Barrow Park Drive Barrow Regional Medical Center 316 North Broad Street CUSTOMER CARE CENTER Denotes a CSB location that Revised 10/2013 Page 15

16 Deposit Agreement Important Transition Details Our transition requires us to have a common agreement enabling the Bank to provide products and services to you. The Laws and Regulations governing deposit accounts and disclosures and any other brochures from your former bank will be superseded by CSB s deposit account products and other documents. They are replaced entirely by the Deposit Account Information and other documents that CSB provides pertaining to your accounts. Action: We encourage you to review the enclosed information in its entirety, so that you understand the respective rights and obligations regarding your accounts. FDIC Coverage When two or more insured banks merge, deposits from the assumed bank are separately insured from deposits at the assuming bank, for at least six months after the merger. This grace period gives customers the opportunity to discuss coverage of their accounts with their banker. For more information about FDIC insurance coverage, go to or call toll-free ASK-FDIC ( ). Page 16

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