End-of-Day Processing
We currently process transactions in your deposit account after the close of business on the day we receive them. We first add the total amount of all deposits received before that day’s Cutoff Time to your account balance. We then group withdrawals into batches of similar transaction types, for example, cash-paid checks or ATM/debit card transactions, and subtract the total of each batch from your account balance in a sequence of deductions shown in your Deposit Account Agreement.
Real-Time Processing
We are converting to a real-time transaction processing system. Real-time processing will generally allow us to post credit and debit transactions to your account as we receive them during the business day. Although real-time processing will accept credit and debit transactions at any hour of the day, it employs a late evening cutoff time at which it stops processing transactions for that business day. Once all pre-cutoff time transactions (and any related fees) are processed and posted to your account, Real-time processing calculates your account’s final balance for that business day. That balance is used to determine, among other things, the amount of interest payable on the account (for interest-bearing accounts only) and any overdraft fees that may be due.
Quicker visibility into transactions posting to your account
This upgrade will not change how you make deposit and withdrawal transactions on your account and will not change your ending account balance each day. Real-time processing will provide you with faster visibility into transactions posting to your account and the impact of those transactions on your account’s available funds – especially if you are enrolled in our Digital Banking services. Please note that pre-authorized transfers scheduled for non-banking days (i.e., on Saturday, Sunday, or bank holidays) will be posted to your account on the morning of the next banking day.
We will process transactions as we receive them throughout the day. If your account balance becomes overdrawn or a transaction tries to post against insufficient funds during the day, withdrawal (debit) transactions may be declined until a deposit (credit) transaction is posted to bring your account balance positive. We encourage you to create and maintain careful records and practice good account management to help you avoid making payments without sufficient funds. Enrolling in our Digital Banking services will help you monitor your account activity. For more information on Overdraft Fees please refer to the Frequently Asked Questions.
Deposit Account Agreement
The bank is moving to a real-time processing system for posting transactions to accounts, which allows you to effectively manage your accounts to avoid potential changes in fees. The changes are outlined in section 7 of your Deposit Account Agreement.
Deposit Agreement
Important Statement Information
Cutoff Statement
As part of our transition to the new platform, a statement will be delivered by mail or electronically that includes all transactions processed on our legacy system. This will be a partial-month interim statement and no Paper Statement Fees or Monthly Maintenance Fees will be applied to this statement. In addition, you will receive a statement on your normal statement processing date that includes transactions processed on our new Core Platform. Monthly Maintenance Fees will be waived for this statement for Personal and Business accounts. Paper Statement Fees will apply to accounts that have not opted out of paper statements through Digital Banking. There is no charge for eStatements. All other applicable fees listed on thePersonal Schedule of FeesandBusiness Schedule of Feeswill continue to apply.
For customers who use Commercial Checking accounts, all standard monthly fees are applicable. If you have any questions regarding commercial checking account fees, please contact your relationship manager.
Statement Layout Improvements
1. All transactions (deposits and withdrawals) are combined into a single “Transaction” section, in order of posting date. The previous statement had separate sections for deposits and withdrawals.
3. Credit Reserve Account (CRL) statement snapshots will no longer appear on the deposit statements.
4. Individual Retirement Account (IRA) information will no longer appear on combined statements.
You will continue to receive an annual IRA statement in January each year. You can also access information about your IRA through digital banking or request a year-to-date statement by visiting your local branch.
5.The new ‘Activity Count’ section includes the total number of items posted to the account during the statement period.
Need to see your Commercial statement changes?
View changes to your Commercial statement here.
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Frequently Asked Questions
For more information call our customer service number at800-232-8948.
No. There is no change to your account number or the bank’s routing number.
No. There is no change to how you initiate a transaction on your account. For example, you will continue to use your debit card, write checks, and use our online and mobile services as you do today. Direct Deposit and ACH transactions will continue to process as expected.
No. The monthly service fees associated with your account will be unchanged. These fees are based on the type of account you have, and in some cases are waived based on the balances or activity in your account during the statement period. The way these monthly servicefees are assessed is unchanged in the new system. However, we will waive the monthly servicefee for your first statement after the system conversion.
- Like today, you have until the end of the day to bring your balance positive before any Overdraft Fees are applied. Real-time processing applies an end-of-day cut-off for calculating the Available Balance in your account used for determining OverdraftFees. Also, like today, all credit (deposit) transactions will be posted to your account before any item is classified as having Insufficient Funds.
- With real-time processing, transactions are applied to your account in the order they are received and posted by the bank throughout the day. If your account is overdrawn at the end of the day, the transactions posted last will be subject to Overdraft Fees. The bank does not control the order it receives transactions. As such, you should be aware of transactions that have posted to your account, as well as transactions that may post to your account in the future.
- We encourage you to create and maintain careful records and practice good account management to help you avoid making payments without sufficient funds. Enrolling in our Digital Banking services will help you monitor your account activity. In addition, talk with your banker about the solutions we offer to help you avoid Overdraft Fees.
To learn more about these changes, please refer to the Deposit Account Agreement.
No. Interest on your account will be calculated just as it is today. Real-time processing still imposes an end-of-day cutoff on the processing of items on the account. Like today, your accounts Collected Balance at the end-of-day cut-off is used for calculating interest.
Our Digital Banking services can help you monitor the balances in your account. Through Online and Mobile Banking, you can view account balances and recent transactions and can set up alerts to receive an email or SMS Text if your account balance drops below a threshold you set. You can also easily transfer money from one account to another. Simplyclick on the “Alerts Inbox” link in Online Banking and navigate to “Manage My Alerts” to create a custom alert for your account.
The system conversion will not affect the transaction count and transaction fees applicable to each statement cycle. For most business accounts, each debited item (withdrawal) and each credited item (deposits) counts as a transaction. See your account disclosure for details. You will benefit from a temporary reduction in your account’s transaction fees in the April 2024 statement cycle following the conversion. You should expect to see transaction counts and fees return to normal in the month of May.
Withdrawal limits on your Savings Account continue to apply as disclosed in your account disclosure. There is a limit of six (6) withdrawals in a monthly statement cycle if the withdrawals are pre-authorized, made by telephone, or made by an online or mobile transfer of funds. If you make more than six limited withdrawals in a statement cycle, you may incur a fee for each excess withdrawal. However, you may make an unlimited number of withdrawals from your account in person, by ATM, or by mail. The fee for each excessive withdrawal applies regardless of your account balance or credits made into your account during the month. You may benefit from a temporary reduction in excessive withdrawal fees during your first statement cycle following the conversion.
Customers will continue to receive the same benefits on their checking accounts that they receive today.
If you have Premier Checking or Premier Elite Checking your benefits include one or more complimentary outgoing wires each month. Internal transfers between accounts (known as book transfers) are not included as part of this benefit. Previously the system may have included book transfers in error as part of the outgoing wire benefit.
ACH credits and debits currently post to your account at approximately 1 a.m. MT. After the system conversion, your ACH transactions will post at approximately 6 a.m. MT.
There is no change to Digital Banking and you will continue to be able to see your historical statements and transactions as you do today. For customers who use our IVR phone reporting system, only transactions from July 14, 2024 and forward will be available. Transactions prior to July 14 are available in Digital Banking, on your bank statement, or by calling Customer Service.
