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Account Access and Transferring Funds
Technical and Security
Overdraft Rules for ATM and Debit Cards
For answers to questions not covered here, contact Peoples Bank today.
> What is iConnect?
iConnect is an Internet-based service that provides you with a safe and convenient way to do your banking 24 hours a day, 7 days a week. With iConnect, you can view your personal account balances, obtain current and previous statements, transfer funds between accounts and more!
> How much does iConnect cost?
iConnect is free to Peoples Bank customers with personal accounts.
> Who can access iConnect?
iConnect is available to any customer with a Peoples Bank personal account such as checking, savings, loan or CD.
> How do I sign up for iConnect?
To begin using iConnect, click the iConnect Enroll button at the top of the page. Review the iConnect Online Banking Agreement and Disclosure and click I Accept These Terms. Complete the First Time Log In form. If you do not know your four-digit TeleBanc PIN, contact Peoples Bank at (763) 689-1212. Once you click Submit on the First Time Log In form, you will be prompted to enter an Access ID and Password. For your protection, your Password must be a minimum of 9 characters with at least one number and one letter. The Access ID and Password fields are also case sensitive. You will use these to sign on to iConnect in the future. Please note that by changing your Password in iConnect, it does not change your TeleBanc PIN.
> If I have a business account with Peoples Bank, can I access it through iConnect?
If you have a business account with Peoples Bank, you can access it through our business online banking service called bizConnect. Click here to learn more about bizConnect or contact your banker today!
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Account Access and Transferring Funds Checking
Ready Reserve (Overdraft Protection)
Line of Credit
Certificate of Deposit (CD)
Individual Retirement Account (IRA)
> Which of my personal accounts can I access through iConnect?
You can view the following personal accounts with iConnect:
> What do I do if I can't view all of my accounts on iConnect?
If you are unable to view all your personal accounts, please contact Peoples Bank during regular business hours.
> How current is the information on iConnect?
Unlike other financial institutions, which update information in "batches" one or two times a day, iConnect is "real-time." Account balances and transactions for savings and checking accounts are generally current and will reflect transactions made during the day as they occur. Transactions conducted by a teller are usually posted by the end of the business day. Please remember that checks deposited with a teller may require time for the check to clear before the funds are available in your account. Balances for other account types such as loans and CDs are generally current as of the end of the previous business day.
> How much transactional information is maintained on iConnect?
From the Accounts screen, select the account from which you want o export information. This will take you to the Balance screen.
Click on the Transactions button or select Transaction Menu from the drop down list.
Complete the Transactions Search box.
You can access transactional information for your current and previous bank statements including check images. The past 12 months of statements are also available to view and print.
> When will transfers made through iConnect be credited or debited from my account?
Most financial transactions requested before 6:00 p.m. Central Standard Time, are processed immediately on the business day they are requested. Transactions requested after 6:00 p.m. Central Standard Time or on weekends and holidays will be processed on the next business day. When a transaction is complete, you will receive a confirmation number. The transaction will appear on your bank statement as usual.
> Can I transfer funds from/to another financial institution through iConnect?
You may only transfer funds between your iConnect personal accounts within Peoples Bank.
> Can I transfer funds between my personal and business accounts using iConnect?
You are unable to transfer funds between your personal and business accounts. Please contact Peoples Bank to make transfers between these types of accounts.
> Can I download my iConnect account information into my financial management software on my computer?
Yes, information can be downloaded from your checking, savings or loan accounts on iConnect into a format that can be used with select version of Quicken/Quickbooks, Microsoft Money, or other commonly used spreadsheet applications. Simply follow these steps:
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Technical and Security
> What system requirements will I need to use iConnect?
To access iConnect you will need a computer with Internet access and an Internet browser with 128-bit encryption such as Internet Explorer 5.5, Version SP1 or greater. For optimal viewing, use a monitor with a resolution of 800 x 600 and a computer with a 486 processor or higher.
> Whom do I call if I have problems signing on to iConnect?
If you are having problems signing on to iConnect such as your Password doesn't work or the link from www.e-peoplesbank.com to iConnect doesn't work, please contact Peoples Bank during regular business hours.
If you are experiencing problems with your Internet browser, connection or other technical issues with your computer, please contact the appropriate provider or supplier. Peoples Bank is unable to provide technical support for computer or browser related problems.
> What if I forget my Access ID or Password?
If you forget your Access ID, please contact Peoples Bank during regular business hours.
If you forget your password, click on the "Forgot Your Password?" link. Enter your access ID and your password will be emailed to you.
> How do I change my iConnect Password?
If you want to change your Password, follow these instructions:
- Sign on to iConnect.
- Click the Change Password button located under Options.
- Enter your existing Password.
- Enter your new Password.
- Enter your new Password a second time for confirmation.
- Click Submit. Your Password is changed.
For your protection, Passwords must be a minimum of 9 characters and include at least one number and one letter. Fields are also case sensitive. You will also be required to change your Password every 90 days.
> Can I access iConnect outside the United States?
You can access iConnect from anywhere you can access the Internet including outside the United States.
> Can I access iConnect from more than one computer at the same time?
Yes, you can sign on to iConnect from more than one computer at the same time. This allows accounts with more than one owner to use iConnect at the same time. For example, if a household has a joint checking account, one member of the household can access it from home while the other can access it from work. Account holders can create their own unique Access ID and Password.
> Why do I receive errors when I use my back or forward buttons in my Internet browser?
Due to security requirements, there are some instances where we prevent pages from being saved to your computer's hard drive or kept in your computer's memory. In these cases, you will receive a browser error message that requests you to "reload" the page. If you are using Netscape, simply click the browser's Reload button and you will receive the last page you visited. If you are using Internet Explorer, simply click the browser's Refresh button.
> What security measures does iConnect use?
iConnect uses several different methods to protect your information:
All information within iConnect uses the SSL (Secure Socket Layer) protocol for transferring data. SSL is encryption that creates a secure environment for the information being transferred between your browser and Peoples Bank.
At a high level, SSL uses public key cryptography to secure transmissions over the Internet. In practice, your browser will send a message via SSL to the bank's server. The bank responds by sending a certificate, which contains the bank's public key. Your browser authenticates the certificate (agrees that the server is in fact Peoples Bank), then generates a random session key which is used to encrypt data traveling between your browser and the bank's server. This session key is encrypted using the bank's public key and sent back to the server. The bank decrypts this message using its private key, and then uses the session key for the remainder of the communication.
Secure Socket Layer (SSL) protects data in three key ways:
- Authentication ensures that you are communicating with the correct server. This prevents another computer from impersonating Peoples Bank.
- Encryption scrambles transferred data.
- Data integrity verifies that the information sent by you to Peoples Bank wasn't altered during the transfer. The system detects if data was added or deleted after you sent the message. If any tampering has occurred, the connection is dropped.
> What is 128-bit encryption?
There are two types of encryption: High and Standard. The difference between these types of encryption is the strength of capability. A High (128-bit) encryption is exponentially more powerful than a Standard (40 or 56-bit) encryption. High or 128-bit encryption means there are septillion possible keys that could fit into the lock that holds your account information, but only one that works for each time you bank online. Peoples Bank uses the highest level of encryption (128-bit) to ensure your online transmissions are secure.
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Overdraft Rules for ATM and Debit Cards
Click here to download and complete the consent form.
Upon completion please mail or drop-off to your nearest Peoples Bank of Commerce location.
> What are the new overdraft rules for ATM and debit cards?
A new federal regulation gives ATM and debit card users additional options regarding overdrafts. As of August 15, 2010 for existing customers and July 1, 2010 for new customers, banks and other financial institutions must offer you the ability to make decisions about overdraft services for transactions made with your ATM or debit card. Unless you “opt-in”, we will not approve an ATM or everyday debit card transaction unless you have sufficient funds in your account to cover the transaction.
> I have a Ready Reserve account, does this mean I am required to "opt-in" to have access to it using my ATM/Debit Card?
You will continue to have access to your Ready Reserve regardless of your decision.
> What does the term “everyday debit card transaction” mean?
These are purchases made with your debit card on a day-to-day basis, such as when paying for groceries, gasoline or clothing at a retail store. Payments you have set up on a recurring and automatic basis, such as monthly utility bill payments, are excluded from the new regulation.
> What does the term “overdraft” mean?
An overdraft occurs when you write a check, make an ATM transaction, use your debit card to make a purchase, or make any other electronic payment, for an amount greater than the balance in your checking account. For a fee, we may cover you when you become overdrawn. This fee can apply each time you overdraw your account.
> What does the term “opt-in” mean?
By opting-in, you are giving Peoples Bank of Commerce permission to include you in a particular overdraft protection service.
> What does the term “opt-out” mean?
By opting-out, you are declining a particular service offered by Peoples Bank of Commerce. Under the new regulation, you have automatically opted-out unless you inform us that you want to opt-in.
> What are the types of overdraft services?
There are two types of overdraft services:
Standard overdraft services. We may cover your transaction for a fee each time you overdraw your account. For example, if you make a purchase with your debit card for $150 but only have $100 in your account, your account will be overdrawn by $50 and we will charge you a fee. If you then make an ATM withdrawal for $50, your account will be overdrawn by $100 and you will be charged another fee. In this example, based on our current fees & services schedule, the fee we charge for overdraft services is $34, you will pay a total of $68 in fees.
Overdraft protection plans. We offer a Ready Reserve line of credit1 or a link to your savings account2 to cover transactions when you overdraw your account. We charge an annual fee of $25 for the line of credit plus 18% on any amount outstanding. We charge a $5 fee each time you overdraw your account and funds are automatically transferred from your savings account to cover the overdraft. But overdraft protection plans are typically less expensive than standard overdraft services.
> What are the new rules?
Existing accounts. If you do not opt-in (agree), beginning August 15, 2010, our standard overdraft services won’t apply to your ATM and everyday debit card transactions. These transactions typically will be declined when you don’t have enough money in your account, but you will not be charged overdraft fees.
New accounts. If you open a new account on or after July 1, 2010, we cannot charge you overdraft fees for ATM and everyday debit card transactions unless you opt-in. If you open a new account before July 1, 2010, we will treat you as an existing account holder: you will receive a notice about our overdraft services and will have to decide if you want them for ATM and everyday debit card transactions.
Flexibility. Whatever your decision, the new overdraft rules give you flexibility. If you opt-in, you can cancel at any time. If you do not opt-in, you can do so later.
Checks and automatic bill payments. The new rules do not cover checks or automatic bill payments that you may have established for paying bills such as your mortgage, rent, or utilities.
> What is the cost if I decide to opt-in?
Our standard overdraft fee, whether the overdraft is by check, ATM withdrawal, debit card transaction or other electronic means is $34 for all items. You will be charged no more than 5 overdraft and returned item fees per day. You must immediately bring your account to a positive balance. The payment of transactions causing an overdraft is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing or you have had excessive overdrafts.
> What happens if my account becomes overdrawn for more than 3 business days and I have decided to not opt-in?
Based on our current fees & services schedule you have a three business day grace period in order to bring your account to a positive balance before we would begin assessing a $10 daily overdraft charge. If the overdraft was caused primarily by items other than ATM and everyday debit card transactions your account will be assessed a daily overdraft charge. If the overdraft was caused entirely by ATM and everyday debit card transactions no daily fee would be assessed.
> What will happen with my recurring debit card transactions?
Debit card transactions that you have established for recurring payment (such as utilities or club memberships) may continue to be authorized at our discretion, even if you do not opt-in to the overdraft services program.
> What are some tips to help in avoiding overdraft fees?
Consider these tips to help you avoid overdraft fees:
Record your transactions. Record every deposit and withdrawal – including checks, recurring payments like your car payment or gym membership, debit card purchases, and cash withdrawals.
Know your available balance. Use free access to our Online Banking or Mobile Banking services to check your available balance and compare it to your records. Compare to your records and adjust for outstanding and pending transactions. The available balance shown may not include all transactions you have authorized for payment. For example, checks you have written and recurring payments you have authorized may not be included. Your available balance does include “pending” transactions (approved on your behalf but not yet paid) for up to three business days. We may not know the final amount of your transaction; we only know what the merchant sends to us for approval. Please keep track of these transactions to avoid overspending. > What is the benefit if I choose to opt-in?
> Where do I find out additional information on this change?
You can visit our website at www.e-peoplesbank.com or you can visit the Federal Reserve site at http://www.federalreserve.gov/consumerinfo/wyntk_overdraft.htm for additional information.
> I am a business customer, how does this affect me?
This new federal regulation only affects consumer accounts. It does not affect business accounts. It is not necessary for a business to “opt-in” or “opt-out” of the program.
If you opt-in, we may at our discretion, authorize the payment of your ATM or everyday debit card (POS) transaction even if you have exhausted your available balance. We may do this in the following manner:
Your available balance is defined as:
• Your current deposit account balance, plus
• The remaining balance in your Ready Reserve line of credit (if applicable) plus,
• The balance in your Savings account that you have tied to your checking account (available by request).
Once that available balance is exhausted, we may subsequently pay and allow an overdraft up to the amount of the daily limit on your card or $500, whichever is less. While you currently may have a larger daily limit, such as $1,000, we have set a $500 maximum on the amount that you could exceed your available balance at the time of your transaction.
It is important to note that this $500 is not a part of your “available dollars”. It represents a loan (overdraft service) that you are being provided and you will be assessed an overdraft fee of $34 per item for this service. However, it does provide you with a back-up plan to ensure that you are not denied payment while at the ATM machine, at the pump, at the grocery store, or at the restaurant, etc. You are acknowledging that you understand this service when you sign the opt-in authorization form.
It is also important to note that you can avoid an overdraft fee if you are able to make a deposit or online transfer that same day to cover the amount of your ATM withdrawal or everyday debit card transaction.
> What does “at our discretion” really mean?
The new regulation does not require the Bank to authorize an overdraft if a customer opts-in. We may control the decision on an account by account basis in case there is a problem in how you handle your account. For example, we retain the right to refuse allowance of this overdraft service and/or cancel your card if collection problems persist.
> What exactly happens if I choose to opt-out?
If you opt-out, we will pay up to your available balance, just as we currently do. We will not allow an overdraft of up to the daily limit of your card, or a maximum of $500. You may avoid overdraft fees on your ATM and everyday debit card transactions by opting out.
> Is it true that my account can become overdrawn even if I have opted-out due to the timing of when an ATM or everyday debit card transaction posts?
Yes, that is true. Remember, at the time an ATM or everyday debit card transaction occurs, you may have other outstanding checks, recurring ACH or everyday debit card transactions that have not yet cleared your account. If those outstanding items clear prior to or on the same day as your ATM and everyday debit card transaction(s), your account may become overdrawn. In that case, we will not charge you an overdraft fee on the ATM and everyday debit card transaction but we can charge an overdraft fee on any checks, ACH or recurring debit card transactions that have contributed to an overdraft balance in your account.
> Is it better for me to opt-out so that I can avoid overdraft fees on my ATM and everyday debit card transactions?
It depends upon if you want to take advantage of our ATM and everyday debit card transactions overdraft service. Remember, you are guaranteed to have your ATM and everyday debit card transaction declined in the first place if you do not have available funds at the time of your transaction and have opted-out. It all depends upon how you want to manager your account. There are advantages with either an opt-in or an opt-out decision.
> Is Peoples Bank of Commerce on a “real-time” basis such that I may see what is posted to my account on a 24/7 basis?
We expect to be on a “real-time” basis within the next 60-90 days. However, as with any software system, there may be times when it is down. Then the last recorded available balance will determine if a transaction will be authorized or not.
> I have heard that some banks are not participating in this program, i.e. there is not an opportunity to opt-in to an overdraft service like you are offering?
We have heard that as well. However, we wanted to provide our customers the benefit of a back-up plan for those times when you don’t have available dollars in your account but truly want or need to have that ATM or everyday debit card transaction authorized. Just remember, that authorization remains at our discretion depending upon how you manage your account.
1Subject to qualification. Fees may apply.
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2Transfers from a savings account for overdraft protection are subject to withdrawal limitations. Transfer fees may apply.