FAQ's

Q: Are Putnam Bank deposit accounts FDIC insured?
A: Yes! Each individual customer at Putnam Bank is insured by the FDIC up to $100,000. There is a brochure available at each branch outlining the exact guidelines regarding deposit insurance.

Q: How do I set up Direct Deposit of my payroll check?
A: If your employer participates in a direct deposit program, simply provide your routing and transit number and your account number to the human resources or payroll department at your company, and your direct deposit will usually begin within thirty days.

Q: How do I set up Direct Deposit of my Social Security check?
A: Simply contact us on how to set up your social security direct deposit.

Q: Can I get information about my account by phone?
A: Yes! Account information is available with our Customer Service Representatives during business hours at any of our offices or by using our Telephone Banking System at 1-877-928-6501 (have your account number ready when calling).

Q: Can businesses have accounts at Putnam Bank?
A: To see what we currently offer, check out our Business Banking Page. Account Information is available with our Customer Service Representatives during business hours at any of our offices.

Q: Does Putnam Bank offer IRAs online?
A: Currently, Putnam Bank does not offer IRAs online.

Q: Is interest paid on Putnam Bank checking accounts?
A: Yes! If you want a checking account that pays a market rate of interest, check out our NOW Account.

Q: Can I open an account if I don't live in the United States? What if I live in the United States but am not a citizen yet?
A: As stated on our application, at this time, we only accept applications from persons residing within the Windham County area (Northeast area of CT), Connecticut, U.S.A. with valid U.S. tax identification numbers (Social Security Numbers). If you have questions, contact us. We'd like to hear from you.

Q: Can I do all of my banking with Putnam Bank?
A: Yes! Thanks to the convenience of Direct Deposit, Online Banking, Telephone Banking and ATMs, everyday banking activities can be performed from the comfort of home. Contact us with questions about your banking needs.

Q: Can I look at all of my transactions at any time?
A: Yes! With Online Banking, you have access to your account information 24 hours a day, 7 days a week! Click here to apply (In order to apply, you must read and agree to the disclosure on the page before filling out the online application)

Q: How frequently is my Putnam Bank information updated?
A: Putnam Bank updates all customer information nightly. Whether you access our Online Banking site or visit our customer service department, your account information is updated every day to reflect all account activity.

Q: Are wire transfers possible to and from my Putnam Bank checking account?
A: Yes! Funds can be transferred to and from Putnam Bank accounts by wire transfer or via ACH (Automated Clearing House) debits or credits. Call our customer service department at 860-928-6501 or 1-800-377-4424 for details.

Q: How do I make a deposit to my account from a remote location?
A: You can do most of your banking by using direct deposit, Putnam Bank Branch ATMs, or ACH (Automated Clearing House) transactions. Putnam Bank also offers a bank-by-mail service which allows you to mail non-recurring deposits. Contact us for details on a method that's best for you.