Online Banking FAQs
Online Banking FAQs
To help you better understand products and processes, we've provided frequently asked questions to make banking easier for you.
Why use online banking?
Millions of people worldwide have chosen the convenience, freedom and control of online banking. It’s the kind of service you don’t know you need until you’ve tried it. Among the foremost benefits include 24/7/365 access, which allows you to bank at your convenience, not ours. Also, you can bank from anywhere in the world you have Internet access. Finally, you can transfer funds, pay bills and reconcile accounts with the click of a mouse button. It’s simply a better, smarter, faster way to manage your money and your time.
How do I know that Online Banking is secure?
- Secure log-in and user authentication
- Industry-standard SSL encryption to protect confidential information in transit
- Secure firewalls to prevent compromise from the Internet
- Advanced security configuration of Internet servers to provide local as well as remote protection from break-in attempts
- After 10 minutes of inactivity, Online Banking will automatically time out and log you off the system. To continue, you will need to log back in to continue using the system.
Do I have to register to use Online Banking?
Yes, a one-time application is required; Once this form is received by the bank with account information, we will issue a User ID number and a Passcode. Upon your first visit you will be asked to select a new Passcode of your choice (must be six - eight alphanumeric characters) and that PIN will be used whenever you access Online Banking. Once set up you may select a unique User ID for your internet account. Do not auto-save your passcode for your own security.
How do I access Internet Banking?
After we have reviewed and approved your application for Online Banking, you simply enter your Online Banking ID and passcode on any page of bankofgravett.net.
How frequently is Online Banking information updated?
Bank of Gravett updates all customer information nightly. Whether you access Online Banking, our automated voice response system, or contact us directly, your account information is updated nightly to reflect all account activity. You may make no more than six funds transfers and telephone transfers, including Online Banking Transactions, per month from your savings or money market deposit account.
What accounts will be available or enabled?
You will have access to all of your accounts listed on your application. Not all accounts will allow transactions, but you may view all accounts. Bank of Gravett may exclude certain accounts at our discretion. Primary account holders may be the only ID able to access accounts. Unlike online banking with many other financial institutions, there is no special monthly charge for you to gain access to Online Banking. There is no cost to look up account balances and histories, and no cost to make transfers, get direct deposit information, or get tax information.
How much does Online Banking and/or BillPay cost?
Online Banking is FREE when you use it to access account information, balance your checkbook and conduct transactions such as account transfers, etc.
BillPay Services are available for the following account types:
FREE! - Free checking, e-checking, Elite Club checking
$2.49/month - Classic checking, LV Gold, NOW Account
Note: Accounts with special signing restrictions/requirements will restrict Online Banking capabilities.
After I sign up for BillPay what happens?
You can pay any bill to anyone in the U.S. from your computer. After you log on to Online Banking, click "Pay Bills" to send payments. Use the menus to choose payee, amount, etc., enter the requested information and click "Submit" to pay bills.
How will the company be paid?
Most of the payees on the list receive payments electronically. Otherwise, a paper draft is created and mailed to the recipient. The draft indicates that the payment is on your behalf and to be credited to the account or invoice you indicated when you entered the payee.
How long does it take for the company I am paying to receive the payment?
Electronic payments normally take a maximum of three days. Paper drafts can take 5-8 days. Take this into consideration when paying bills to avoid late charges.
My house payment and car payment are the same every month. Is there an easy way to handle these?
Yes, the system provides for recurring payments. You tell it the amount, date and frequency and the system will initiate the payments for you based on your instructions.
Can I stop payment on a BillPay transaction?
No. After setting up BillPays, immediately go back and review them, if your amount or due date is wrong, you will be able to edit or delete payments at that time.
Can I use BillPay on my business accounts?
No. In order to provide the utmost security to our business customers, BillPay features will not be accessible; however, all other functions of Online Banking are accessible.
Can I initiate Stop Payments of any kind on my account?
No. Because of required signatures and affidavits, you must still contact the bank via phone or in person.
Can I transfer funds from my account?
Yes. You may choose to transfer funds to a number of your accounts. You may make loan payments by transferring funds to the loan. You may create one-time transfers that occur now or in the future. You can also create transfers that occur on a weekly, semi-monthly, or monthly basis.
What happens if I lose or forget my ID or Passcode?
If you lose/forget your ID or Passcode, you may call Customer Service and with proper verification, your ID or a temporary Passcode will be mailed to you, or you can come in person and, with proper ID, your ID or temporary Passcode can be given to you.
Why does my Online Banking ID disappear when I login?
For security purposes when logging in your ID is cleared.