Online Banking

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 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 much account history is available online?
A: You will have access to up to six months worth of history, beginning on your Online Banking application date.  To view your transaction history, click on the account nickname under the Account Title column on the Account Access page.

Q: How do I apply for Online Banking? 

A: Visit www.putnambank.com, Click Sign Me Up! button located on left-hand side of the homepage screen, click Begin, complete, submit and verify the application information. Two emails will follow, one of which will have login instructions.

Q:  After applying, how soon can I start using Online Banking?
A:  Within two business days, you will gain access to your online profile.

Q: How do I log into Online Banking? 

A:  To login please:

• Go to https://www.putnambank.com
• Enter the User Id* and Password you created during the login process and click Login.

* If you opted not to provide an Alternate Id, this would be your social security number with no dashes or spaces. You will be prompted to change the id, if your social, after your initial login.

• You will then be prompted to answer your validation question with the choice of adding Enhanced Login Security to your computer. This choice will be denoted by setting your computer to "public" or "private".  We do not recommend adding security to a public computer.  To add the security, choose the private setting. 

A public computer is one that is shared by several users such as a work, library or cafe computer. A private computer is a personal computer that is only shared by trusted individuals such as your home computer.

• Choose whether you want the ability to use the "forgotten password" link in the event that you forget your login information at a later date.

If you do not login within 60 days of being approved, your online banking profile will be purged from the system and you will need to reapply should you want access at a later time.

Q: How do I add/delete accounts to/from my Online Banking?
A: To add or delete an account to/from your Online Banking, please log into your Online Banking, Click the Secure Forms link, Click Add/Delete Accounts, Complete and Submit the Form.  You can also visit your local branch to complete an Electronic Maintenance Form.  It can take up to two business days before the account will be available through your Online Banking.

Q: How can I transfer funds between my Putnam Bank accounts without visiting a branch? 

A: You can use our Online Banking service or Telephone Banking.

Online Banking:

There are two ways to make a manual transfer online. 
1) Once logged into your Online Banking, you can do a Quick Transfer at the bottom of the Account Access screen. Simply type a dollar amount with the decimal point, choose the “to” and “from” accounts, click Submit and please be sure to confirm the transfer.
 2) Use the Schedule Transfer link at the top of the Account Access screen and follow the steps in the first method. This option is recommended if you are transferring funds to a loan as it allows you to choose principle or regular payments.

Please keep in mind if you have a regular payment due, all funds will be allocated to the regular payment and remaining funds will go towards the principle.

You can also set up recurring transfers under the "Schedule Transfer" link.

Telephone Banking:

To use this option, please visit your local branch to complete the necessary paperwork.

Call 1-877-928-6501, and follow the prompts.

A confirmation number is provided to you. Please make record of this number.

Q: How does Bill Payment work?
A: Bill Payment is a feature that allows you to pay all your bills from one convenient, secure area.  Out Bill Payment servicer sends the payment out on your behalf and then the funds for the payments are taken from your checking account to cover the payment.  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: Can I use any account for funding my Bill Payments?
A:  No, only a checking account is a valid funding account for Bill Payment.

Q: How do I apply for Bill Payment?  You must be registered for Online Banking to use this feature.
A: There are three methods to apply for Bill Payment: 
1) While registering for Online Banking, check the box that will automatically enroll you. Keep in mind the application for Bill Payment is not received by the bank until after your first successful login.
 2) Use the Bill Payment prompt presented to you upon entering Online Banking.
 3) Once logged into your Online Banking, click the Bill Payment link at the top of the Account Access screen, complete, verify and submit the application. 
Two emails will follow, one of which will have a summary of Bill Payment features.

Q:  After applying, how soon can I start using Bill Payment?

A:  If your application is submitted before the end of the business day, it will normally be processed that day.  The next day the latest.

Q: How do I access Bill Payment?

A: Log into your Online Banking and Click on the Bill Payment link at the top of the Account Access screen.

Q: How do I add/delete accounts to/from my Bill Payment?
A:  To add a checking account to your Bill Payment, please log into your Online Banking, click the Bill Payment link, click Add Funding Account, complete and submit the requested information. Within a few business days, two small deposits will be placed in the account. Take these amounts and enter them under this section to validate the account.  Once validated you can use this account to start paying bills. If you have other funding accounts, please make sure to update your payees accordingly so that payments will be made from the desired account.

To delete a checking account, once you have accessed your Bill Payment, click Funding Accounts, click the Delete link, and confirm your intentions. If this account is your default Funding Account, you will need to designate a new default Funding Account (in this same area) before you can delete the account.  Please verify that all your payees have the desired default account listed for payment.

When using more than one account for payments, please make sure that the "Pay from" account listed at the top of your payee list matches the default funding account for each payee to ensure funds are drawn from the desired account.  The account number denoted in the "Pay from" drop down overrides the account number listed as the default funding account.

Q: If I use Bill Payment, how soon does the payee receive payment? 

A:  If the vendor accepts the payment electronically, it will reach them within three business days.

If the payment goes as a check, it will reach the payee within five business days.

Underneath the Send On date, there is a deliver by date. This is the latest date the vendor should receive the payment. Keep in mind they may not process the payment immediately.

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.

Q: Can I edit/cancel a Bill Payment? 

A:  Yes. You have until 10:30 pm that business day to make changes to your Bill Payment. To do so, access your Bill Payment, click either the edit or cancel link located near the payment under the Pending Payments area on the right hand side of the Make Payments screen and confirm the update. If you miss this cutoff time and the payment is sent electronically, it cannot be stopped at this point. You can contact the payee directly to request they not process the payment. However, if it goes as a check, please contact the Online Banking Department at 800-377-4424, Option 2 and we may be able to place a stop payment on the check if it has not been cashed by the vendor. There is a fee associated with the stop payment.

Q: Do I have a record of payments I have made?
A: Yes, a years worth of payment history is available for each payee.  To access, click on the blue link for the payee name and then click View payment history. 

Q: What if the vendor states they did not receive payment? 

A: Contact the Online Banking Department at 800-377-4424, Option 2 and we will research the issue for you. 

Q: What if I receive a check sent through Bill Payment back from a vendor? 

A:  Please mail the check marked “VOID” back to the address listed on the front of the check for Metavante. Once they receive the check, they will credit the funds back to your account.

Q: What are eStatements?
A:  An eStatement is an electronic version of your traditional monthly paper statement. It includes the same information as a paper statement, individual links to your check images, and any important notices or information from Putnam Bank.

Q: Will I still receive my paper statement?
A:  No, once you sign up for eStatements you will no longer receive paper statements; you may not receive both printed statements and eStatements.

Q: How long will my eStatement be available for viewing?

A: Seven years.

Q: How do I sign up for eStatements?  You need to be registered for Online Banking to use this feature.
A: Once logged into Online Banking, Click the eStatement link at the top of the Account Access screen, Read and Accept the Terms. 

Q:  After applying, how soon can I start using eStatements?
A:  Access, for all accounts currently listed within your Online Banking, is granted immediately upon accepting the Term & Conditions. 

Q: How do I access eStatements?
A: Log into your Online Banking and Click on the eStatement link at the top of the Account Access screen.

Q: How do I add/delete accounts to/from my eStatements? Accounts need to be added to Online Banking before they can be added to your eStatements
A: To add or delete an account to/from your eStatements, please log into your Online Banking, Click the Secure Forms link, Click Add/Delete Accounts, Complete and Submit the Form.  You can also visit your local branch to complete an Electronic Maintenance Form.

Q: If I open or close an account, is it automatically added/removed to/from my Online Banking, eStatements, and/or Bill Payment? 

A:  No, you will need to follow one or all of the steps above depending on which features you are trying to add/remove accounts to/from.

Q: What is Finance Works? 

A:  With access to over 7,000 financial institutions and creditors, Finance Works is financial management software that allows you  to manage all your financial accounts, whether a Putnam Bank account or not, in once place, so you can more easily see your net worth and plan a budget.  

Q: How do I access Finance Works?  You must be registered for Online Banking to use this feature.
A: Once logged into Online Banking, Click the Finance Works link at the top of the screen, and Click Enter Finance Works. 

Q: How soon can I use Finance Works? 

A:  Access is immediate.

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.

Q: What if I have additional questions or need further help? 

A:  Please contact our Online Banking Department at 800-377-4224, Option 2 during normal business hours to speak with one of our Online Banking Representatives.