Question #1
Exactly what equipment and software do I need to access Online Banking?
Answer:
- A personal computer with Windows® 95/98/2000/XP or Windows® NT 4.0 or a higher version; an Apple Macintosh computer with OS 8.6 or a higher version.
- You'll need an account with an Internet service provider (ISP).
- A modem to connect your personal computer to your ISP (28,800 baud or higher is recommended). This modem can be a dial-up modem, cable or DSL modem.
- A web browser which supports 128-bit encryption and Secure Sockets Layer (SSL) (i.e. Netscape 4.08 or higher, Microsoft Internet Explorer 5.0 or higher, or AOL 4.0 or higher.) The latest browser version is recommended, and upgrades are available directly from Microsoft, Netscape and AOL via their respective web sites.
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Question #2
Is the Internet safe and secure for Online Banking?
Answer:
Yes. Salem Co-operative Bank's Online Banking system is protected by 128-bit encryption which is currently the highest level of security available for Internet transactions. This method of encryption is ensured by a VerisignT Digital Certificate, as well as your browser's Secure Socket Layer (SSL).
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Question #3
How can I tell if my browser supports 128-bit encryption?
Answer:
- Microsoft Internet Explorer - Pull down the browser's Help menu and select About Internet Explorer. Look for the line that indicates "Cipher Strength". If this value is less than 128-bit, your browser must be upgraded before you can begin to use Salem Co-operative Bank's Online banking.
- Netscape Navigator - Pull down the browser's Help menu and select About Navigator. Look for the line that reads "This version supports U.S. security with RSA Public Key Cryptography, MD2, MD5, RC2-CBC, RC4, DES-CBC, DES-EDE3-CBC." If this exact text is found, your Netscape browser supports 128-bit encryption. If instead you read that "This version supports international security....", then your browser will need to be upgraded because it does not support 128-bit encryption.
NOTE: Netscape Navigator Version 6 is not compatible with Online Banking.
- AOL - If you receive a "403" error when you try to use Online banking, this means that your browser doesn't support 128-bit encryption. Go to Keyword: 128 browser and follow the instructions for downloading and installing a new browser.
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Question #4
Can Salem Co-operative Bank's Online Banking system remember my Sign-On ID and Password so that I don't have to re-enter it each time I wish to enter the system?
Answer:
No. For security reasons, the Online Banking product will not remember a Sign-On ID or Password. You will need to enter both of these each time you wish to begin a Salem Co-operative Bank Online Banking session.
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Question #5
How do I change my Online Banking password?
Answer:
You are required to change your password every 90 days by the Online Banking system, and will be prompted to do so after this period of time. If you wish to change your password before this time, click on Options (tool bar on the left side of your screen) and enter and confirm your new password in the Change Password and Retype New Password boxes. Click Continue and your password change is complete. Use this new password the next time you sign on to Online Banking.
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Question #6
How many characters must my Sign-On ID and Password be for Online Banking? Are there any special requirements?
Answer:
Both your Sign-On ID and Password must be at least 8 characters long, and can be made up of any combination of letters and/or numbers and/or symbols. Sign-On IDs and Passwords are NOT case-sensitive.
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Question #7
Can anyone else see my account information?
Answer:
No, your Online Banking account information is only available through access methods which have been rigorously tested for their secure access. The information is not public. Only you can access it using your authorized Sign-On ID and Password.
You can help safeguard your information and the Online Banking system by protecting your Sign-On ID and Password. A proper combination of your Sign-On ID and Password is the only way to get access into your account. Please be careful to keep this information secure and remember to Sign-Off Online Banking when you have completed your banking needs.
NOTE: If you forget to Sign-Off Online Banking, your session will automatically terminate after 15 minutes of inactivity. If you wish to continue using Salem Co-operative Bank's Online Banking system after your session has been terminated due to inactivity, you will need to re-enter your Sign-On ID and Password.
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Question #8
What type of accounts are included in Online Banking?
Answer:
You can access the following types of accounts: (Please note that balances and histories will be available for all of these accounts. Some accounts will be limited, however, as to what transactions customers are authorized to process using the Online Banking system.)
- Checking
- Savings
- Loan/Mortgage
- CD's/Retirement
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Question #9
Can I have more than one checking account linked to Online Banking?
Answer:
Yes. You can link all of your checking accounts and any other accounts that you have ownership rights on to Online Banking. When you enroll online, you will be asked to provide which active accounts you would like to have linked to Online Banking. If you open new accounts at a later date, you will have the option of linking them to Online Banking at that time. Note: Only checking accounts can be linked to the Bill Payment functions in Online Banking.
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Question #10
How current is Online Banking information?
Answer:
All posted transactions are immediately viewable through Online Banking, as our system is online/real-time with the Bank's main database. Online Banking initiated transactions such as transfers between two accounts will update our main database immediately.
Bill Payment requests made using Online Banking are processed once per day; the funds will be deducted from your checking account at approximately 9:00 p.m. each business day.
Certain transactions, such as ATM and Point of Sale can take longer periods to clear. These transactions will not show up on or be deducted from your Online Banking account balance until they have cleared the Bank's main database.
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Question #11
What if Online Banking goes down? Will my payments be made, will my transfers go through?
Answer:
If Online Banking and all of our back up systems were to go down, you can be comfortable that any transaction for which you had already processed, prior to the system going down, will go through. If you were in the middle of a transaction and there is some question as to whether the system has received the request, you may feel free to contact the bank at (603) 898-2153 to ensure that your transaction request has been accepted.
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Question #12
How do I add an account to Salem Co-operative Bank's Online Banking product after my initial enrollment?
Answer:
Click on the Accounts button on the left side of your screen, and then click on the Add Account button that is found at the top of the Accounts screen. Complete the form with the appropriate account information, and click Continue to submit your request. This process will take approximately two (2) business days to complete. When you see the new account appear on your Accounts page, you will know that it has been added and is ready to use.
If you have already completed the enrollment application to become an Online Banking user, but have not yet received your Sign-On ID and Password, please wait until receiving these items to request that accounts be added to your Online Banking access. Do not re-enroll to add accounts!
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Question #13
Can I rename an active account within Salem Co-operative Bank's Online Banking product?
Answer:
Yes, but doing so will only rename the account on the Online Banking product. This change will not affect the Bank's main database account information in any way. Click on the Edit button found at the top of the Accounts screen, enter the new account name in the box provided, and click Continue. This change will take effect immediately.
NOTE: You can name your accounts anything you choose within the Online Banking system. You may wish to enter a name that will help you identify your personal accounts. (For example, "Vacation Fund")
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Question #14
Why does my ATM balance differ from my Online Banking balance?
Answer:
Salem Co-operative Bank's ATM is not an online/real-time system. Transaction and balance information is only updated on the ATM system once per business day, unlike the Online Banking system which is online/real-time.
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Question #15
What is the funds transfer cut-off time? What about recurring transfers?
Answer:
One-time transfers are processed immediately; there is no "cut-off" time, as Online Banking is an online/real-time system. Future dated or recurring transfers between accounts are made at approximately 4:00 a.m. each business day. If a transfer is scheduled to be processed on a weekend or Bank holiday, it will instead be done on the business day prior to the scheduled date. For example, if a recurring or future dated transfer is scheduled to be made on a Saturday or Sunday, it will be processed on the previous Friday at 4:00 a.m.
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Question #16
If I already have a scheduled transfer(s) set up between accounts with Salem Co-operative Bank, can I edit or stop these transactions using Online Banking?
Answer:
No. If you have previously arranged for a recurring transfer between accounts including automatic loan payments, but did not do so using the Online Banking system, you will not be able to change any details of those transactions online. Please call Salem Co-operative Bank at (603) 898-2153 or visit the Main Office at 3 South Broadway, Salem, NH 03079 to make any changes.
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Question #17
Can I see when my next loan payment is due or what the next amount due is using Online Banking?
Answer:
Yes, providing that your Online Banking agreement has access to that loan account. Click on the yellow folder icon that appears next to the loan account on the Accounts screen. This will display information about your loan including the next payment date, next amount due, rate, maturity date, etc.
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Question #18
How do I update my Online Banking transaction Register to account for my manual checks, ATM transactions or Point of Sale purchases?
Answer:
These items will appear in the Account Transaction Register of the Online Banking system as soon as they are presented to the Bank and have cleared your account. If you would like to record or account for these transactions in your Online Banking Register before this time, click on the Add Transaction button found at the top of the Register screen. Enter the transaction information as accurately as possible (include the type of transaction, check number, amount and date), and when that transaction is presented to the Bank's main database, the Online Banking product will attempt to match it with the entry that you have recorded. If the details on the manually entered transaction differ from the actual posted transaction, the actual transaction will not overwrite your manual entry. In this case, you will want to delete the transaction you entered manually by clicking on the red Delete icon next to the transaction.
Please remember that ATM and Point of Sale debit transactions are not processed online/real-time and may take a few days to appear on your transaction register. The number and dollar amount of items added using the Add Transaction button will appear in the "Pending Transactions" line at the top of your Register. You may choose whether to have your Register display any Pending Transactions by checking or un-checking the "Show Pending Activity" box.
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Question #19
Can I enroll a Business or D/B/A account for Online Banking access?
Answer:
Salem Co-operative Bank's Online Banking is setup for retail customers. We do have the ability to enroll business accounts, but you will need to contact us during normal business hours at (603) 898-2153 since additional setup is required.
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Question #20
How much does it cost to use Bill Pay?
Answer:
Salem Co-operative Bank's Online Banking and Bill Payment service is currently FREE! This service allows you to view your account balances and history, transfer money and make loan payments to your Salem Co-operative Bank accounts in addition to paying bills.
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Question #21
If I don't sign up for Bill Payment during my initial enrollment, can I decide to sign up at a later time?
Answer:
Yes, you can sign up for the Bill Payment service anytime you want. Just click on the Bill Payments button located on the left side of your screen. You will then see an Alert message which indicates that you are not currently signed up for Bill Pay. Click on the Agree button to enroll, and you can immediately start using the Bill Payment service.
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Question #22
How long does it take for an Online Banking bill payment to reach my payee?
Answer:
Each payment made by Online Banking will be processed either by check or by electronic funds transfer. If the payment is made through electronic funds transfer, it will take 1 to 3 business days for the payment to reach your payee. Payments made by check, however, will be delivered via the postal service. Delivery could take several days (5-7) depending on where the payment is to be sent. The safest thing is to always schedule your payments at least seven business days ahead of the date they are due. This will ensure that the payment will be made and processed in time.
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Question #23
Should the Bill Payment date I give be the date the payment is actually due?
Answer:
No. You should allow at least seven (7) business lead days for the payment to reach your payee. Since you can't determine if the payment will be made electronically or by paper check, you should enter a date at least seven (7) business days before the actual due date. Also note that you can not backdate payments, and the Bill Payment system defaults to the current date. Be sure to take into account that, although you can schedule a payment at any time, payments are actually initiated (sent to the payee) once each business day at approximately 9:00 p.m.
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Question #24
How soon are the funds actually taken out of my account after I initiate a bill payment?
Answer:
The funds will be deducted from your account on the same day as the scheduled processing date that you choose when scheduling your bill payment.
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Question #25
What happens if I don't have enough money in my account to cover a bill payment?
Answer:
If your account has sufficient overdraft protection to cover the payment, we'll draw against that. Otherwise, the payment will not be honored for insufficient funds and your payment will not be processed. You will receive an online Mailbox message stating that the transaction was unable to be processed.
Please note that the system will not automatically attempt to process the payment request at a future date when there are sufficient funds in the account; you will need to re-request the bill payment manually.
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Question #26
When and how are my bill payments delivered and how can I ensure that my payee receives my payment on the due date?
Answer:
Bill payments are processed once each business day (Monday through Friday, excluding Bank Holidays). Each payment made by Salem Co-operative Bank's Online Banking system will be processed either by check or by electronic funds transfer. If the payee accepts electronic payments, it may take 1 to 3 business days for the payment to reach your payee. If the payee does not accept electronic payments, a paper check will be processed and delivered via the postal service. Delivery could take between 5 to 7 days depending on where the payment is to be sent.
We recommend that you schedule your payments at least seven (7) business days ahead of the date they are due, which will ensure that the payment will be made and processed in time. Once the system has determined that it is time to process the payment based on the scheduled date that you enter, the payment's status will be changed to "processed".
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Question #27
Why does it take a few days to process payments?
Answer:
Although a number of your payees accept payments electronically, many do not. For those that do not accept electronic payments, we must send a check to that payee through the U.S. Mail. Once it is received by the payee, it may also take a day or so for that payee to process the check and post it to your account. Even for electronic payments, it may take two or three days for your payment to be posted. By allowing a few days for processing and delivery, we can guarantee that your bills are paid on time.
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Question #28
What should I do if a payee has not posted my payment?
Answer:
You need to allow several business days (1-3 for Electronic and 5-7 for Paper Checks) for your payee to process your payment. If your payee has not posted the payment to your account after at least seven (7) business days, send an Online Banking Mailbox message to the Bill Payment Desk to inquire about the status of the payment. Be sure to provide your full name, dollar amount, date, and the item's reference number. The reference number is displayed on the Bill Payment screen under the "#/Category" column. The payment will then be traced and a status response will be sent to you. You may also call Salem Co-operative Bank at (603) 898-2153, or visit the Main Office at 3 South Broadway, Salem, NH 03079.
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Question #29
How can I prove payments and transfers were made?
Answer:
With each bill payment, you are given a reference number which is displayed on the Bill Payments screen under the "#Category" column. This reference number indicates that your payment request has been received and can be used to track a payment if a problem occurs. Once a payment has been processed, this tracking number will disappear.
In addition, bill payments and transfers will appear on your Online Banking Register screen. If the Clr column for a transaction is marked with an X, this means that the transfer or bill payment has posted to your account.
You'll also continue to receive your monthly statement in the mail from your payee which will indicate the date the payment was posted and the amount of the payment. Your Salem Co-operative Bank monthly bank statement will show "eBill Payment" and the name of the payee, but will not show the reference number.
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Question #30
How will bill payments be made?
Answer:
We use two methods of payment:
- Electronic - Salem Co-operative Bank's Online Banking sends an electronic credit to your payee and electronically debits your checking account on your scheduled payment date. These payments will reach the payee within 1-3 business days.
- Laser Draft - A paper check is sent to your payee by mail. These payments should reach the payee within 5-7 business days.
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Question #31
Can I choose the method of payment?
Answer:
No. Salem Co-operative Bank's Bill Payment service provider, Princeton eCom, establishes electronic payment agreements with vendors and payees. Online Banking will process the payment electronically if such an agreement exists. If not, then a paper check is produced and mailed.
Over time, new agreements may be established with payees that could not previously accept electronic payments. At that time, your payments will automatically be paid electronically.
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Question #32
Can I make a Bill Payment from an account other than a checking account?
Answer:
No, you can only make Bill Payments from a checking account. However, you may transfer money from another account into your checking account before requesting that a Bill Payment be made.
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Question #33
What is the cut-off time for one-time (not recurring) Bill Payments?
Answer:
Regular Bill Payments that are requested before (approximately) 9:00 p.m. on any business day will be processed that night. If a payment is requested after 9:00 p.m. on a business day, weekend, or Bank holiday, it will be processed on the following business day.
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Question #34
What if I make an error in a Bill Payment request? How do I change the amount, the payee, or the date? Can I cancel the entire transaction?
Answer:
If the payment has not yet been processed, you will see an "Edit Transaction" icon next to the payment on the Bill Payments screen. Click on this icon to modify any details of this transaction including the amount, payee or scheduled date. Click Continue to update. If you want to delete a transaction entirely, click on the red "Delete" icon next to the payment on the Bill payments screen and click Continue to update.
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Question #35
Does Salem Co-operative Bank's Online Banking work with other accounting software (i.e., Quicken®, Money®)?
Answer:
Absolutely. Salem Co-operative Bank's Online Banking was designed to be highly compatible with these popular personal finance software products. File exports can be obtained for both Quicken® and Money® by clicking their respective logo on the left of your screen, and then providing the requested information.
Salem Co-operative Bank also supports Microsoft Money's "Online Services" for Versions 2003, 2004 and 2005.
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Question #36
What is Salem Co-operative Bank's ABA/Routing transit number?
Answer:
Salem Co-operative Bank's ABA/Routing transit number is 211472977
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Question #37
What "Other Services" does Salem Co-operative Bank's Online Banking offer besides Account access and Bill Payments?
Answer:
- You may request a new ATM card
- Re-order checks through Deluxe
- Request a Safe Deposit Box
- Submit an address change
- Order a U.S. Savings Bond
To access these service, click on the Other Services button on the left side of your screen.
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Question #38
If I don't sign up for Quicken® or Money® during my initial enrollment, can I decide to sign up at a later time?
Answer:
