Online Account Opening Customer FAQs

Transcription

1 Online Account Opening Customer FAQs Q. Why are you offering this new service to customers? A. At United Bank, we always look to identify and implement ways to enhance your banking experience with us whether you bank with us in the branches or through our online, mobile and telephone banking channels. Online Account Opening is just another way we are providing new and existing customers access to a more convenient banking experience online. Q. Can anyone apply through online account opening? A. At this time, only residents of Connecticut and Massachusetts can open an account online at United Bank. Q. Can people who have second homes in other states apply online? A. Yes, as long as their primary residence is in Connecticut or Massachusetts. Q. Are all the same products offered in the branches also offered if I want to open an account online? A. Right now, there are seven products that we offer through Online Account Opening: Benefits Checking Relationship Checking Prime Money Market 13 Month CD New Money CD 13 Month CD Benefits Savings Simpl e Checking Q. Can I open a business account online? A. No. Only personal accounts can be opened online for an applicant and joint applicant. Q. What is the minimum age requirement to open an account online? A. You must be at least 18 years old.

2 Q. How can I open an account online? A. Go to On the page for personal banking products and services click on virtual banking services, click on online account opening then click on the product of interest and click apply now. Q. What information do I need to apply online? A. Please have the following information available before you begin your online application: For new customers, you will need your Social Security number, driver s license or other government issued photo ID, State ID, Military ID or Passport. If a checking or savings account will be used to fund the new account(s), the bank routing number and account number will be needed. If a debit card or credit card will be used to fund the account have your card readily available so you can provide your card number, name, expiration date and security code information. For existing United Bank customers, you will need your Social Security number and one (1) of your existing United Bank account numbers (e.g. checking account, savings account, money market account, or CD account number) If a checking or savings account will be used to fund the new account(s), the bank routing number and account number will be needed. If a debit card or credit card will be used to fund the account have your card readily available so you can provide your card number, name, expiration date and security code information. Q. How can I tell if I successfully opened my account online? A. You will receive an either immediately at the end of the application process or on the next business day to let you know if your account application has been approved or denied. Q. Is my online application secure? A. Yes, this process is as secure as if you went to a United Bank branch office to open an account. Q. How long will it take to open an account when I apply? A. If you are a new customer to United Bank, the online application process should take about 15 minutes. If you are an existing customer, it should take less time.

3 Q. Do applicants need an address to apply to open an account online? A. Yes, because s will be sent to you at various stages of the online application process to confirm your user name, ownership, application status and application approval or rejection. Q. Where I can find more information on Online Account Opening? A. Go to On the page for personal banking products and services click on virtual banking services, then click online account opening then click on the product of interest. To apply online simply click the apply now button. Q. Are there any special features for the online products? A. The same great features for the products we offer in our branch offices are available through our online account opening service. Q. Are co applicants allowed? A. Yes, online accounts can be opened on an individual basis or with a co applicant. Q. What information do I need to open a joint account? A. You ll need the same information that s needed when opening an individual account, but you ll need it for both applicants. Of course, both the primary applicant and the coapplicant will be required to sign the signature card; identical to what we require for accounts opened in a United Bank branch office Q. How do I make an initial deposit for an account that I just opened online? A. To make your initial deposit, you can transfer money from your checking or savings account at another bank. If you are already a United Bank customer, you can transfer money from your existing United Bank checking or savings account. You can also use any of the four major credit card brands (Visa, MasterCard, Discover and AMEX Cards), or you can use a debit card from another bank or your United Bank debit card. The funds transfer will not occur until your account is approved. If your account is approved by 5:45 PM EST, the checking or savings account used to fund your new account initial deposit will be debited the next business day.

4 If a debit or credit card was used to fund your new account initial deposit, the transaction will post to your card two (2) business days later. Please ensure that the account you use for the initial deposit has sufficient funds available to be transferred. Note: If you use a credit card the transaction may be posted as a cash advance (this may incur added fees and interest charges based on your credit card issuer s card agreement, terms and conditions). Q. Are there any differences in the required minimum amount and maximum permissible dollar amounts for an account opened online versus going into the branch? A. There is no difference in the required minimum amount to open online. However, for the 13 month CD (both new money and not new money), the maximum permissible amount if opened via the online account opening process is capped at $150,000. NOTE: For any product that can be opened online, if a credit card or debit card is used to fund the new account initial deposit, the maximum is currently capped at $500. Q. How do I get my new account agreement, disclosure and signature card documents? A. All documentation will be provided electronically both during the account opening process, and after the account opening process you can simply login to the new account opening portal with your user name and password to access your documents. Q. What type of signature document will I receive? I want to make sure United Bank has my actual signature on file for my new account. When and how will I receive my new account signature card? A. For all online approved accounts we will send an within 1 2 business days of the day your account is funded. The will contain instructions to enable you to securely open the and access the instructions for completing your signature card, and returning it to us. We support four(4) options to enable you to return your signed signature card to us via your method of choice. We recommend you return your signed signature card to us via secure as described in the instructions document from us. The signature card needs to be returned to have full transactional privileges on your account.

5 Q. I opened an account online but I haven t received an so I can access, print, sign and return the signature card. Who can I call? A. For approved new accounts, you will receive an from us within one (1) business day containing instructions on how to securely access, print, sign and return your signature card to us. If it has been more than one business day, feel free to call our Customer Care Center at BANK (2265) Monday through Friday from 8:00 am to 7:00 pm and Saturday and Sunday from 8:00 am to 6:00 pm. Q. What if I start the application but cannot finish right away? Can I go back to the Online Account Opening application later? A. Yes. You will set up a username and password which will allow you to save and continue the application whenever it s convenient for you. You can also continue and finish your application on another device. For example, if you started your online account application on your ipad, iphone, Android smartphone or Android tablet, you can use your username and password to login on to your laptop to complete the online application. Q. How soon after my account is successfully opened online will I have access to the funds that are now in my account? A. For accounts funded from a checking or savings account with sufficient funds, if the completed online account application is approved by 5:45 pm EST Monday through Friday, the funds will available the next business day at United Bank. If the online account is approved at or after 6:00 pm EST Monday through Friday, the funds will be available two (2) business days later at United Bank. Q: When does interest begin accruing on accounts that I open online? A: For interest bearing accounts, your account begins earning interest the day your account is funded. Interest accrues on the available balance in your account. If your account has a balance equal to or less than zero dollars ($0.00) interest will not accrue. Q. Can I open more than one account at a time online? A. Yes. Depending on the account you choose to apply for online we will review the information you submit in the application and we may determine that you are also eligible for an additional type of account with United Bank. If this is the case we will let you know during the online account opening process, and you can elect to apply only for the account you originally selected, or you may elect to apply for both the original account you selected and the additional account(s) that we have determined you are also eligible for.

6 Q. Can I apply online for one of the seven products offered online and then apply for another product online at a later date? A. Yes. Q. Can an applicant open the same type of account online more than once? A. Yes. For example, you can apply online for a new money 13 month CD and then open an additional new money 13 month CD at another time. Q. What devices can people use to open an account online? A. Desktop, laptop, apple or android devices that are smartphones or tablets. Q. If I forget my password for the My Application portal, what do I do? A. Go to any of the s received during the online account opening process and click the link to login, then click the button for Forgot Password. You will be required to enter your online account opening user name. After we validate you as an online account opening user we will send you an where you will need to answer a few questions for use to validate your identity. Once verified, we will provide the opportunity for you to reset your password. Q: How long will it take for my new account(s) to be added to my accounts in Online Banking? A: For checking, savings and money market accounts (excluding CD s), your new account(s) will be added to Online Banking within 1 business day after your account has been funded. For CD s it will take 2 business days after the date your account is funded for your CD account(s) to be in your accounts in Online Banking. Q: I do not see my new account(s) in my accounts displayed in Online Banking. What do I need to do so I can see my new account(s)? A: Log in to Online Banking. Find the section on the page called My Accounts. In the upper right corner of that section you will see an icon that looks like a gear. Click on the gear icon which will open a new smaller window called Configure My Accounts. On the right side of the Configure My Accounts window you will see the product name(s) for the accounts that you can add to your displayed list of accounts. To the right of each product name is a plus sign +. Simply click the plus sign + to move the account to your displayed list of accounts. Similarly on the left side of the My Account Settings window if there are accounts listed that you would prefer to not always be displayed, simply click on the minus sign to hide the accounts and move them to the right side of the My Account Settings window. When

7 you are happy with the accounts to be displayed versus the accounts to be hidden, simply click the Save button in the lower right corner of the My Account Settings window, and you re done. You can change your displayed versus hidden account settings as often as you like. Q. Who should I contact if I have more questions about United Bank s online account opening service that are not answered in this list of frequently asked questions? A. Feel free to call our Customer Care Center at BANK (2265). Our Customer Care Center at BANK (2265) Monday through Friday from 8:00 am to 7:00 pm and Saturday and Sunday from 8:00 am to 6:00 pm.