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FAQS


Security FAQs


Online Banking FAQs


Bill Payment FAQs


eStatement FAQs


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Questions & Answers


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: 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 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.


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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 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.
  

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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 a years worth of history, beginning on your Online Banking application date.  To view your transaction history, click on the account nickname under the My Accounts section.
 
Q: How do I apply for Online Banking?
A: Visit www.putnambank.com, Click the 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: Under most circumstances, you will be able to log into your Online Banking by the end of the business day, if submitted Monday-Friday before 5 pm, excluding holidays.  If the application is submitted on a non-business day or after 5 pm, you will have access by the end of the next business day.

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Q: How do I log into Online Banking?
A:  To login please: 
  • Go to https://www.putnambank.com
  • Enter the Username and Password you created during the login process and click Login.
  • You will then be prompted to retrieve a passcode 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.  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.  To add the security, choose Yes for the private setting.

    If you do not login within 30 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.  You will be able to view the account by the end of the business day, if submitted Monday-Friday before 5 pm.  If submitted on a non-business day or after 5 pm, you will be able to view the account by the end of the next business day.

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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 make a transfer by clicking the Make a Transfer button located at the top of the My Accounts section.  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 Move Money link at the top of the landing page, click Make a Transfer 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 Move Money link and then click Schedule a Transfer.
  
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.  Our 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.  
 
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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. The application for Bill Payment is received by the bank 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 Pay link at the top of the landing page, 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 business day the latest.
 
Q: How do I access Bill Payment?
A: Log into your Online Banking and you can access your Bill Payment under the Make a Payment section. You can also click Go to payments on the bottom-left of the Make a  Payment section or click on the Bill Pay link at the top of the landing page.

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Q: How do I add/delete accounts to/from my Bill Payment?
A:  To add a funding account:
When using more than one account for payments, please make sure that the Pay from account listed below the payee name is the account you would like the funds drawn from.  
·         Access the My funding account page via the Manage funding account(s) link in the Looking for options box located on the lower right section of the main payments page
·         Click the Add a funding account button located at the bottom of your funding account list
·         Provide the requested information; account number and routing number
Once your request has been submitted, your new account will need to be validated.  Within about 2 business days of your add account request, 2 small deposits will be made to the account that is being added.

To validate your funding account:
·         Look for those deposits in your account and make a note of the amounts
·         Come back to this service and access the My funding accounts page
·         Click the validate link corresponding with the account you are adding
·         Provide the two amounts we deposited to your account, the order does not matter
You will have 3 attempts to provide the correct amounts.
Note: If he validate link is not active, that means the deposits have not been made to your account. Please wait about 2 business days and then check the account for the deposits.

An account can be deleted as long as it is not:
1.       Your only funding account
2.       Your default funding account
3.       Being used for any scheduled or recurring payments
To delete a funding account:
·         Access the My funding account page via the Manage funding account(s) link in the Looking for options box located on the lower right section of the main payments page
·         Locate the desired account in your list of accounts
·         Click the Delete button associated with the account you are trying to delete. Note: If the account is set as your default, it will not have a delete link
·         Confirm your request to delete the account
Note: You will not be allowed to delete a funding account that is being used for any scheduled or recurring payments. If you attempt to delete an account that is associated with scheduled or recurring payments, you will be provided with a list of payments or recurring rules that must first be canceled.
 
 
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.
Once a Send On date is chosen, there is a deliver by date listed below.  This is the latest date the vendor should receive the payment. Keep in mind once the vendor receives the payment, they may not process it immediately.

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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, 24 months worth of payment history is available for each payee.  To access the payment history, click on the View Payment History link located at the top-right of the My Payments section or click the View All Payments link located at the bottom-right of the My Payments section.  You can filter payees by typing in a payee name in the filter box or by clicking on the words "Pay to".  After clicking one of the links mentioned above, the payment history can be adjusted by clicking on the Change link located at the top-right of the My Payments screen near the default date range. 
 
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.

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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 must be registered for Online Banking to use this feature.
A: Once logged into Online Banking, click on the Additional Services link at the top-left of the landing page and then click the eStatements link, read & accept the Terms.

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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 Additional Services link at the top-left of the landing page and then click the eStatements link.

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: If you close an account, it will automatically be deleted from your Online Banking and eStatements.  However, if you open an account and would like it added to your Online Banking or need to make adjustments to your Bill Payment funding accounts, 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.

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Q: What is Finance Works?
A: Finance Works is financial management software with access to over 7,000 financial institutions and creditors that allows you  to manage all your financial accounts, whether a Putnam Bank account or not, in one 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 Go to Finance Works link at the bottom-right of the landing page under the View My Spending section.  Or, click on Manage Money at the top of the landing page and click Account Overview. 
 
Q: How soon can I use Finance Works?
A:  Access is immediate.
  
Q: What if I have additional questions or need further help?
A: Please contact our Online Banking Department at 800-377-4424, Option 2 during normal business hours to speak with one of our Online Banking Representatives.
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