Continental Bank Business Accounts Conversion Guidebook

Transcription

1 Continental Bank Business Accounts Conversion Guidebook please review this important information carefully.

2 Important Milestones in the Continental Bank-to-Bryn Mawr Trust Conversion Between October 14th-22nd Friday, October 23rd ATM/Debit Card holders will receive a new Bryn Mawr Trust VISA Debit Card. (It cannot be used until October 26th or after.) Prior to 3:00 p.m. on this date, download, and print and/or save any Online Banking, Bill Pay and/or e-statement history you think you might need in the future. All Continental Bank branches will close at 3:00 p.m. Friday and remain closed Saturday. Continental Online and Telephone Banking will not be available after 3:00 p.m. on Friday. October 23rd-25th Continental ATMs will be operational for cash withdrawals only using your Continental Bank Debit or ATM Card. Your Continental Bank Debit Card may be used for point-of-sale purchases and cash withdrawals. Online, Mobile and Telephone Banking are unavailable. Monday, October 26th Branch offices will re-open at 9:00 a.m. as Bryn Mawr Trust Branches for banking as usual. Activate your new VISA Debit Cards. Bryn Mawr Trust s Online Banking will be available as of 9:00 a.m. IMPORTANT CONTACT INFORMATION For questions: Prior to October 24th: Call Beginning October 26th: Call For information regarding: Small Business Development Visit or call any Bryn Mawr Trust Branch. Commercial Loans & Lines of Credit Visit or call any Bryn Mawr Trust Branch. Insurance Services Call Powers Craft Parker & Beard, Inc Wealth Management Call

3 THIS BOOK CAN HELP YOU GET THE MOST VALUE FROM YOUR ACCOUNTS Here are a few questions you re likely to have, and some answers that we hope are easy to understand. Q: When is the conversion? A: During the weekend of October 23rd. All former Continental branches will close at 3:00 P.M. on Friday, October 23rd, and remain closed on Saturday. However, ATMs will be operational for cash with- drawals only. Continental Online Banking will not be available throughout the conversion weekend. At 9:00 A.M. on Monday, October 26th, branches will re-open as usual and Online Banking will again be available; however, action will be required on your part. So plan ahead as much as possible to avoid any inconvenience. Please see Page 4 in this booklet for details. Q: Can I continue to use my Continental Bank checks after the conversion? A: Yes. Since your account numbers will not change, you can continue to use your existing supply of checks. When it s time to place a new order, simply bring your re-order slip to your local branch. Q: Will our deposits continue to be FDIC-insured? A: Absolutely, according to FDIC insurance regulations, and up to the maximum limits currently allowed by law. If you have any questions about FDIC insurance, visit the FDIC website at or stop by your local branch office. Q: Will my account numbers change? A: No. Your account numbers will remain the same. Will the features and benefits of my current accounts change? Just follow these simple steps to understand changes to your account(s) and your new opportunities. Step 1. Step 2. Step 3. In the Contents listing below, find the category of account you have and turn to that section. Find the name of your current business account, and you ll see exactly what it will become when it converts to a Bryn Mawr Trust business account. There s nothing else you need to do to keep on banking, as usual, at any of the 26 full-service branch offices now available. CONTENTS About Business Checking, Savings, Money Market Accounts and CDs A about Online Banking... 4 A about Loans, Lines of Credit, Cash Management and Other Services... 5 A A about Other New Opportunities at Bryn Mawr Trust about the Expanded Branch Network bmtc.com / 1

4 BUSINESS CHECKING, SAVINGS AND MONEY MARKET ACCOUNTS As the charts on these pages show, for the most part, your existing accounts will be very similar when they become Bryn Mawr Trust accounts. Your account numbers will not change, and you can continue to use your existing supply of checks. CERTIFICATES OF DEPOSIT If you currently have a Certificate of Deposit, it will remain exactly the same. You will continue to receive a notice prior to maturity. * Free Business Checking * Non-Profit Checking if your * Business Relationship * Municipal Checking Continental * Business Analyzed Checking * Non-Profit Government Bank Account Checking * Non-Interest Bearing Cash Management Checking is currently estate Account Checking *Interest Bearing * Sole Proprietorship estate Account Checking Checking at Bryn Mawr trust, Regular business small business not for profit it will become: Checking Checking Business Checking Minimum None None $1,000 daily Balance Fees $20/month; earnings None $15/month if minimum credit may offset balance is not met all/portion of charges Interest None None Tiered rates vary; compounded daily and paid monthly on collected balances Items Unlimited, subject to Up to 500 per month; Up to 500 per month; Per Month analyzed per item charges $.50 per item over 500 $.50 per item over 500 Minimum Balance N.A. N.A. $1,000 to Earn Interest VISA Debit Card FREE FREE FREE ATM/Branch Unlimited Unlimited Unlimited Withdrawals Pre-Authorized Available and subject to Available and subject Available and subject Withdrawals analyzed per item charges to per item fee to per item fee Online Banking & Available Available Available e-statements If you have questions not answered in this booklet, visit your local branch. Prior to the conversion, 2 / bmtc.com

5 Escrow Manager Accounts Interest bearing or non-interest bearing Escrow Manager Accounts will become e-z Escrow interest bearing or non-interest bearing accounts, respectively. They ll have the same time-saving features you enjoy today, with no minimum balance requirement and no monthly maintenance fee. If you are an existing Escrow Manager Account client, you will receive a separate communication about the e-z Escrow conversion. * Business or * IOLTA Business * Business Savings * Municipal Checking ACCount money Market account Iolta business Business statement Business market Checking Savings account rate account $2,000 average monthly or $5,000 combined None $100 daily average monthly balance (with any additional business checking, money market or savings account) None $5/month if minimum $15/month if minimum balance is not met balance is not met Tiered rates vary; Rate varies; Tiered rates vary; compounded daily compounded daily compounded daily and paid monthly on and paid monthly on and paid monthly on collected balances collected balances collected balances N.A. N.A. N.A. $1,000 Interest paid on $2,500 collected balances N.A. FREE FREE Unlimited Unlimited Unlimited Available 6 per cycle 6 per cycle Available Available Available Important details related to your deposit accounts How We Process Checks You ve Written If multiple checks/items are presented against your account for payment, these items will be posted in sequential check number order. ATM Deposits ATM deposits, including cash, will not be immediately available in your transaction account. However, deposits made before 3:00 P.M. will be available the next business day. Check Deposits Check deposits are generally available the next business day. Please refer to our Funds Availability Policy. call After conversion, call Or visit us at bmtc.com / 3

6 RE-ACTIVATION REQUIRED FOR ONLINE BANKING AND BILL PAY AT BRYN MAWR TRUST. If you ve been using these services at Continental Bank, you appreciate the convenience of banking where ever you are, 24/7. You also appreciate the importance of securing your identity and account information. Due to our enhanced security systems, you will need to re-activate your Online Banking at Bryn Mawr Trust. We will send specific login credentials and instructions under separate cover prior to conversion. Commercial/Cash Management Online Banking provides extra services for your business. ACH and Wire origination capability. The ability to set up different authority levels. The ability to set up multiple users within your organization. If your business is not utilizing ACH and Wire origination services and you do not have multiple users, you will convert to our Consumer/Small Business Online Banking, rather than our Commercial/Cash Management Online Banking System. Beginning at 9:00 a.m. on October 26, 2015, please follow the simple steps below to access the Commercial/ Cash Management Online Banking System. 1. Login to and select View Your Accounts on the upper right side of the home page. 2. Select Commercial/Cash Mgt Online Banking from the drop-down menu. 3. Enter your User ID from the old system. 4. Enter the new temporary initial login password and follow the instructions provided to you under separate cover. Consumer/Small Business Banking please follow the steps below to access this system. 1. Login to and select View Your Accounts on the upper right side of the home page. 2. Select Consumer/Small Business Online Banking from the drop-down menu. 3. Enter your User ID from the old system. 4. Enter the new temporary initial login password and follow the instructions provided to you under separate cover. Please note that regardless of which Online Banking system you use, Consumer/Small Business or Commercial/Cash Management, your Continental Bank account history will not be converted to the new Bryn Mawr Trust Online Banking system. This includes your Bill Pay history. If you want your account history or Bill Pay history, please download it prior to conversion. Continental Bank history will not be available after conversion. Your Bill Pay History will not transfer. For an overview of Bryn Mawr Trust systems, visit and select Online Education Center, then choose from the video tutorials. Important Note About Browser Requirements To use the new systems, you must be sure that your computer, tablet and/or smartphone uses one of the following currently-supported browsers: For Windows 7: For Mac TM OS: Internet Explorer 10 and above. safari 6.2. Chrome Current Stable Version. Chrome Current Stable Version. Firefox Current Stable Version. 4 / bmtc.com

7 IMPORTANT INFORMATION AFFECTING LOANS, LINES OF CREDIT, CASH MANAGEMENT AND other SERVICES Business Loans and Lines of Credit Regarding Your Current Loans and/or Lines of Credit After conversion, your account number and type of loan or line of credit will remain the same. You can continue to make scheduled payments just as you did with Continental Bank. You can mail payments to Bryn Mawr Trust, 801 Lancaster Ave., Bryn Mawr, PA 19010, ATTN: Commercial Loans. (Be sure to include your Loan Number on your check.) If your payments are made electronically from an eligible account, that will also continue without interruption. There is one slight change, however: Bryn Mawr Trust accepts partial payments on Small Business loans so, if you don t have enough available funds in your account for a full payment, your account may be debited several times for smaller amounts until a full payment is received. Important Note About Your Small Business Line of Credit Statement(s): The Balance Subject To Interest Rate amount in the Interest Charge Calculation section may be overstated because of how the daily balance information in this calculated field was converted from Continental Bank. You may also see a credit in the form of a Principal Adjustment that is necessary to account for differences between Continental Bank s and Bryn Mawr Trust s computer systems. Not all customers will be impacted, but if you are one who is, only your first Bryn Mawr Trust line of credit statement will be affected and, rest assured, all other information, including billed amounts, will be accurate. Business Debit Card You ll receive a new Bryn Mawr Trust VISA Debit Card to replace your existing card after the conversion; it will arrive about two weeks prior to conversion. After October 26th, just call the tollfree number to activate and set up your PIN. Be sure to call from the home, work or cell phone on file with us. This card cannot be used until after systems conversion on Monday, October 26th. Periodic Account Statements You ll continue to receive account statements, just as you do now. After the conversion takes place, you will receive a final Continental Bank statement, showing all activity up to and through the conversion date. The next statement you receive will be from Bryn Mawr Trust and will include all activity that takes place after the conversion date. Savings accounts that do not have electronic activity will receive a quarterly statement rather than a monthly statement. You can also elect to receive a Combined Monthly Statement, showing details on all your related savings and money market accounts. This makes tracking your banking much easier. Of course, if you sign up for Online Banking, you can also elect to receive e-statements, which saves a ton of paper over time, and gets a statement into your hands as soon as a statement cycle closes. Please note Your Continental Bank Online Banking account history will not be converted to Bryn Mawr Trust. Prior to conversion, please download and print, and/or save, any account e-statement history you will need. e-z Banking With e-z Banking, you will continue to be able to scan checks you ve received right from your office and electronically deposit them directly into your account. If you are an existing Remote Deposit Capture client, you will receive a separate communication on how to access Bryn Mawr Trust e-z Banking Remote Deposit Capture. After conversion on October 26th, if you have questions or need assistance, please call our e-z Banking client support line at Wire Transfers Domestic and International You may continue to initiate wire transfers as usual. Wire transfers are a super-fast way to move money out of your account when it is absolutely needed, in any currency. You can originate new transfers with a wire agreement by calling The cutoff for wire transfer originations Monday through Friday is: 4:30 p.m. ET for Domestic wires, excluding weekends and bank holidays. 3:00 p.m. ET for International wires, excluding weekends and bank holidays. Wires submitted after the cutoff time will be transmitted on the next business day. Telephone Banking This service enables you to do many of the things you can do in Online Banking, but using any telephone instead. It s easy to sign up for this automated 24/7 service all you need is your nine-digit Federal tax identification number (TIN) and account number. To sign up: Call BMT (4268) and follow the prompts. bmtc.com / 5

8 new opportunities at bryn mawr trust Everything You Need to Manage your Business Whether you re just getting off the ground, growing and ready to jump to the next level, or moving along effectively with a mature business model and plain old hard work, Bryn Mawr Trust offers products and services to meet your needs. Chances are we have every service you need. Some are extensions of what you enjoyed at Continental Bank. But there are more, along with what we guarantee can be a close, one-to-one relationship with one of our experienced Business Bankers and, whenever you need it, ready access to the Bank s senior management. We believe great service across the board, combined with understanding, proactive experts and our own well-managed organization, are good places to start. And it all grows out of our focus on our customers needs... and success, making Bryn Mawr Trust The Proven Choice. Retirement Plans There s no better resource for customizing a retirement program for you and your business. We partner with some of the most sophisticated plan administrators. Whether you re a for-profit or not-for-profit, we can help you select the program that helps your business attract, reward and retain the employees to keep you competitive. Some of these plans include: 401(k), Qualified Pension and Profit Sharing Plans, Employee Stock Ownership Plans (ESOPs), Regular and Roth IRA Rollovers, and SEP (Simplified Employee Pension) Plans. Preferred Partners This special package incorporates a long list of benefits for you and your employees, including special pricing, consulting and advisory services and many other free services. Getting the edge in attracting and retaining high-quality employees gets tougher...and often more expensive...every year. Yet this package will cost you nothing. If you have questions not answered in this booklet, visit your local branch. Prior to the conversion, call After conversion, call Or visit us at 6 / bmtc.com

9 new opportunities at bryn mawr trust For generation after generation, individuals, families, businesses and organizations have counted on Bryn Mawr Trust to help them manage, grow, and preserve their wealth. And, the list of those we serve and the assets under management and administration continue to grow. Credentialed professionals, backed by a strong, dedicated staff, ensure that you get superior attention day in and day out. Insurance Services Through Powers Craft Parker & Beard, Inc., a wholly owned insurance brokerage subsidiary of Bryn Mawr Trust, we can provide everything from an evaluation of your current insurance program to competitive alternatives, along with assistance with claim administration, loss control programs, and other risk management needs. As a totally independent broker, and not a direct underwriter, we offer highly objective opinions and advice. We provide a wide range of products such as Commercial and Personal Insurance, Group Employee Benefits, and Individual Financial Planning Solutions. The Powers Craft Parker & Beard, Inc. insurance office is located at 15 Garrett Avenue, Rosemont, PA ( ). Wealth Management Expertise For over 126 years, Bryn Mawr Trust has served individuals of all income levels, helping them accumulate, manage and efficiently transfer their wealth. Our proven investment strategies are based on hard work and proprietary research using sound money management principles. We take the time to understand each client s unique goals and objectives, and then provide the client with customized investment recommendations and planning alternatives to satisfy those objectives. Our services include: Estate Planning Fiduciary Services Investment Management Services Personalized Private Banking Retirement Services Custodial Services Philanthropic Services Brokerage Services provided through BMT Asset Management Insurance services provided by Powers Craft Parker & Beard, Inc., our wholly owned subsidiary There are times in the life of your business when you need a good deal more than just the timely and accurate support of dayto-day financial transactions. Our experts have been trusted and valued advisors to closely held businesses, public companies, not-for-profit institutions, endowments, foundations, and other organizations for many generations and chances are we can help you, too. Working in concert with your existing accounting and legal professionals, we can provide a variety of investment, risk remediation, and financial planning services. No matter what you need, your BMT professional is the place to start. For more details, visit Bryn Mawr Trust has Wealth Management offices in: Bryn Mawr 10 South Bryn Mawr Avenue, Bryn Mawr, PA ( ) Devon 20 North Waterloo Road, Devon, PA ( ) Hershey One East Chocolate Avenue, Suite 200, Hershey, PA ( ) The Bryn Mawr Trust Company of Delaware, Wilmington, DE 20 Montchanin Road, Suite 100, Greenville, DE ( ) Lau Associates LLC in Wilmington, DE 20 Montchanin Road, Suite 110, Greenville, DE ( ) Bryn Mawr Trust Wealth Management provides products and services through Bryn Mawr Bank Corporation and its various affiliates and subsidiaries. Bryn Mawr Trust and its affiliates and subsidiaries do not provide legal advice. Please consult your tax or legal advisors to determine how this information may apply to your own situation. Securities and insurance products: (1) are not bank deposits; (2) are not insured or guaranteed by the FDIC or any other government agency; (3) are not obligations of, or guaranteed by, any financial institution; and (4) involve investment risks, including the potential for fluctuations in investment return and the possible loss of principal. Brokerage and some insurance products and services are offered through, and investment consultants are registered with, Cresap, Inc., member of FINRA and SIPC. Cresap, Inc. and Bryn Mawr Trust are independent entities. bmtc.com / 7

10 More convenience than ever before Beginning Monday, October 26th, you ll have more banking choices than ever before. You ll be able to use any one of the 26 full-service banking offices you may find convenient to home, to work, or when you re out and about. We have more ATMs for your 24-hour banking convenience. All offices are open on Saturdays, too, with the exception of the office at One Tower Bridge in West Conshohocken. delaware Branch CONCORD 1000 Rocky Run Parkway, Wilmington, DE 19803, Drive-In and Drive-Up ATM drive-in: Mon-Thurs: 8-4, Fri: 8-6, Sat: 9-12 pennsylvania Branches CHESTER COUNTY exton 237 N. Pottstown Pike (Rte. 100), Exton, PA 19341, , Safe Deposit Boxes, Drive-In and Drive-Up ATM drive-in: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 KENNETT SQUARE 106 E. Street Road, Kennett Square, PA 19348, Safe Deposit Boxes, Drive-In & Drive-Up ATM hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 Drive-In: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 paoli 39 W. Lancaster Ave. (Rte. 30), Paoli, PA 19301, drive-in: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 west CHESTER 849 Paoli Pike, West Chester, PA 19380, drive-in: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 delaware COUNTY aston 5000 Pennell Road, Aston, PA 19014, Safe Deposit Boxes, Drive-In & Drive-Up ATM hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 Drive-In: Mon-Wed: 8-4, Thurs: 8-5, Fri: 8-6, Sat: 9-12 Brookhaven 3218 Edgmont Ave., Brookhaven, PA 19015, Safe Deposit Boxes, Drive-In & Drive-Up ATM hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 Drive-In: Mon-Wed: 8-4, Thurs: 8-5, Fri: 8-6, Sat: 9-12 ChaDDS FORD 1620 Baltimore Pike Suite 100, Chadds Ford, PA 19317, Hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 Drive-In: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: / bmtc.com ChESTER 23 East Fifth Street, Chester, PA 19013, Safe Deposit Boxes & Drive-In hours: Mon-Fri: 9-4, Sat: 9-12 drive-in: Mon-Fri: 9-4, Sat: 9-12 chester HEIGHTS 31 West Baltimore Pike, Glen Mills, PA Safe Deposit Boxes, Drive-In & Drive-Up ATM hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 drive-in: Mon-Wed: 8-4, Thurs: 8-5, Fri: 8-6, Sat: 9-12 havertown 18 W. Eagle Rd., Havertown, PA 19083, Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 media 22 West State Street, Media, PA 19063, hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 Drive-In: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 newtown Square 3601 West Chester Pike (Rte. 3), Newtown Square, PA 19073, Safe Deposit Boxes, Drive-In & Drive-Up ATM Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 swarthmore 330 Dartmouth Avenue, Swarthmore, PA 19081, hours: Mon-Wed: 9-4, Thurs: 9-5, Fri: 9-6, Sat: 9-12 drive-in: Mon-Wed: 8-4, Thurs: 8-5, Fri: 8-6, Sat: 9-12 wayne 330 E. Lancaster Ave., Wayne, PA 19087, Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 montgomery COUNTY ardmore 50 W. Lancaster Avenue, Ardmore, PA 19003, Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 Bala cynwyd 135 East City Avenue, Bala Cynwyd, PA Drive-in & Drive-up ATM Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12

11 BRANCH OFFICES IN DELAWARE AND pennsylvania LIMERICK west norriton EAST norriton blue bell KING OF PRUSSIA west conshohocken conshohocken exton paoli wayne bryn mawr newtown square havertown ardmore bala cynwyd west chester media roxborough chester heights swarthmore KennetT square brookhaven chadds ford aston chester concord BLUE BELL 599 Skippack Pike, Blue Bell, PA 19422, Drive-in and Drive-up ATM Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 Drive-In: Mon-Thur: 9-5, Fri: 9-6, Sat: 9-12 Bryn Mawr (Main Office) 801 Lancaster Ave., Bryn Mawr, PA 19010, Safe Deposit Boxes, Drive-In, Walk-Up & Drive-Up ATMs Drive-In: Mon-Thur: 8-4, Fri: 8-6, Sat: 9-12 CONSHOHOCKEN 528 Fayette Street, Conshohocken, PA 19428, Drive-in and Drive-up ATM Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 Drive-In Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 east NORRITON 113 W. Germantown Pike, East Norriton, PA 19401, Drive-in, ATM and Safe Deposit Boxes hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 Drive-In: Mon-Thur: 9-5, Fri: 9-6, Sat: 9-12 king OF PRUSSIA 197 E. DeKalb Pike, King of Prussia, PA 19406, Drive-in and Drive-up ATM Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 Drive-In Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 LIMERICK 33 W. Ridge Pike, Limerick, PA 19468, Drive-in and Drive-up ATM hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 Drive-In: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 SHANNONDELl Ashcroft & Bradford Buildings, & Shannondell Drive Audubon, PA 19403, /6800. ATMs in both locations note: Access limited to residents and staff only west NORRITON 436 Egypt Road, West Norriton, PA 19403, Drive-in and Drive-up ATM Hours: Mon-Thur 9-5, Fri 9-6, Sat 9-12 Drive-In: Mon-Thur 9-5, Fri 9-6, Sat 9-12 west Conshohocken One Tower Bridge, 100 Front Street, Conshohocken, PA 19428, , Walk-Up ATM hours: Mon-Fri: 8-4, Sat: Closed PHILADELPHIA COUNTY IVY RIDGE/ROXBOROUGH 7133 Ridge Ave., Philadelphia, PA 19128, Drive-in, ATM and Safe Deposit Boxes hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 drive-in Hours: Mon-Thur: 9-5. Fri: 9-6, Sat: 9-12 bmtc.com / 9

12 2015 Bryn Mawr Trust Member FDIC