Online Banking & Bill Pay

Q: I'm still hesitant about banking online. Can other people see my account information?
A: Your account information is just as secure as it is at your physical brick and mortar bank. We've taken every step possible to be sure our system meets the latest security standards, including using the latest security encryption methods and software.

Q: What types of accounts can be viewed online?
A: All accounts can be viewed online except construction loans and the checking side of a line of credit.

Q: How do I access Online Banking?
A: When using Personal Online Banking Login for the first time, click on the Sign Me Up!' button underneath the login area. If there are no discrepancies with your registration then 2-3 business days after your Internet Registration Form has been submitted you will be approved and have access to your account(s) online.

Q: How frequently is my Putnam Bank information updated?
A: Putnam Bank updates all customer information nightly. Whether you access Online Banking or contact us directly, your account information is updated nightly to reflect all account activity.

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!

Q: How does bill payment work?
A: To help you understand the process, please visit our Online Banking demo and click the Bill Payment link at the top of the screen- if you still have questions, please call us at 860-928-6501 and ask to speak to someone regarding Internet Banking.

Q: After I make a bill payment, how long does it take for the money to be debited from my account?
A: The money will be debited electronically from your account 2-3 business days after the 'Send On' date. If you make a payment on Monday, you can expect the money to be debited from your account by Wednesday or Thursday of the same week.

Q: How long does it take for a payment to reach the payee?
A: It takes up to 3 business days for an electronic bill payment (utility companies, credit card companies, etc.) to reach a payee and up to 5 business days for a check bill payment (doctor, garbage collector, etc.) to reach a payee.

Q: What about filling applications out online? How secure is that?
A: Filling out applications online is as secure as the Online Banking System. Your entire session, from beginning to end, is encrypted. Our system supports 128-bit encryption, so you can also use the latest browser from Netscape or Microsoft that supports this security level. In fact, the highest encryption Netscape and Microsoft browsers support is 128-bit, so you will be using the highest bit encryption currently available if you use a 128-bit encryption capable browser.

Q: I keep hearing a lot about encryption? What exactly is it, and why does it make everything more secure?
A: Encryption is basically a way to rewrite something in a code which can then be decoded later with the right key. The encryption we use employs a mathematical process for the key which is made up of a certain number of bits (hence, 128-bit encryption). The higher the number of bits, the better the encryption. While using our Online Banking System, all communication from you to the system and from the system to you is encrypted using a maximum of 128 bits. In other words, when you send information to the system, your browser encrypts it using a 128-bit key, then sends it to the system. The system then decodes the information you sent it using the key (which is predetermined when your Online Banking session is started) and processes it.

Q: What about information that is stored? Is it encrypted as well?
A: Information stored on our system is also encrypted using at least 128 bits.

Q: I'd like to know more about the security methods you have implemented. Where can I read more?
A: For a more detailed description of the security features in our Online Banking System, please see our Online Banking System Security Overview.