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This page contains a list of frequently asked questions about Reading Co-operative Online Banking. If you have any other questions, we encourage you to contact us. General Information: Online Banking
General Information: Online Bill Pay
Getting Started with Online Banking
General Information: Online Banking Visit any Reading Co-operative Bank branch and fill out an Internet Banking enrollment form. You’ll then decide on a username and password, which will allow you to log on. Any computer with access to the Internet can interface with Reading Co-operative Bank’s Online Banking service. Our Internet security requires that you use a Web browser which is capable of supporting 128-bit encryption. For more details on requirements, please click here. What are Reading Co-operative Bank’s online capabilities? You can view account statements, check account balances, review interest information, make loan payments, transfer funds between your Reading Co-operative Bank accounts, and export account information into Quicken® or Microsoft Money®. Will I be charged for online banking? NO. Reading Co-operative Bank customers enjoy FREE online banking. Which accounts are available through online banking? You can access any of your Reading Co-operative Bank accounts, including Checking, Savings, Certificates of Deposits, Lines of Credit, Residential and Installment Loans. Are online banking accounts, joint accounts? No. Each User ID is assigned to an individual. When you enroll, you will be given access to all of your accounts, whether you are the primary or secondary owner. We recommend that each user enroll for his or her own User ID. When can I access my accounts online? Reading Co-operative Bank's online banking service is available to you 24 hours a day, seven days a week, except during scheduled maintenance periods or other unforeseen outages beyond our control. When will transfers I make online be posted? Transfers made before 4:00 p.m. will be posted on the same business day. Transfers made after 4:00 p.m. will be posted on the next business day. How does Reading Co-operative Bank protect my privacy? We have developed a very strict Privacy Policy to help protect our customers, both online and off. You can read our Privacy Policy by clicking here. To read more about our online security measures, click here. Reading Co-operative Bank has developed extensive measures to ensure the secure, safe handling of all online transactions. Information encoding, a password “lockout” system, and automatic log-off are just some of the methods we use to protect your online banking activities. More detailed information can be found on our Security Information page. What should I do to protect my own account information? You should never provide your password to a third party. If you do so, you are authorizing that party to make transactions on your account, and, therefore, you are responsible for any transactions that may result. In the event your password is lost or shared with a third party, notify Reading Co-operative Bank immediately. Failure to notify Reading Co-operative Bank of lost or shared passwords may result in a loss of funds. To further protect your account, we also recommended the following:
General Information: Online Bill Pay Is receiving and paying bills online hard to do? Electronic billing and payment is easier and takes less time than opening the envelope containing your paper bill, reviewing it, writing a check and keeping manual records of your transactions. Just click to view the bill online, enter the payment amount, schedule the payment date and you’re finished. (You’ll also save on postage and supplies!) I already pay some bills online. Isn’t that the same as paying e-Bills? What are e-Bills? No. If you already pay some bills online, you’re using the paper bills that come to your “snail-mail” mailbox to get the details you need – like the biller's name, your account number, the amount due and due date – to log-on to the Internet and pay those bills. You have to do this every time for each bill you want to pay online. This can become a hassle, particularly if you misplace or accidentally toss your bill. E-Bills, on the other hand, are conveniently delivered right to your computer! You’ll find all the same information you’re used to seeing in your paper bills. Then, when you’re ready to pay, all you need to do is choose the amount (or choose the default option to pay the full amount due), schedule the date you want the bill to be paid and click “Submit”. You don’t have to worry about losing your bills, making a late payment or missing a payment. You can pay nearly any bill online that you’d pay with a paper check: from your mortgage company to your lawn-care service to your child’s college. If I pay bills online, do I lose control of payment dates? Absolutely not! You’ll always be in control of your checking or savings account. You decide who, when and how often to pay. Need to cancel or change a payment? No problem, as long as it’s done before the processing date. I already automatically deduct some payments from my bank account. Isn’t that the same thing? That’s an automatic debit. A car loan payment that you’ve authorized your bank to deduct from your account, each month, is an example. Electronic billing and payment is like an automatic debit … only better, because you have the flexibility to change the payment date and amount, giving you ultimate control. The more recurring-amount bills you set up to be paid automatically, the more time you save, every month. How can I keep track of the bills I pay? When you pay bills online with Reading Co-operative Bank, an automatic record is created of your payments that you can view at any time. You can check the status of your payment or review your account and balance history. And unlike a check in the mail, you have proof that you’ve paid on time. Online data may be uploaded into Quicken® or Microsoft Money®. I like keeping a paper record of my bills. Can I still do this? Whether you’re making a payment or receiving an e-Bill, you can print a report of your transactions at any time. With online banking, your account statements provide even more information. Instead of listing "Check #1234," the payee will be named, for example, "Acme Power Company" or "American Red Cross." This makes it easier to find deductions at tax time. You’ll also have an image of the back of the check to prove that it was received and deposited. How far in advance do I need to pay bills online? Generally, we recommend scheduling your payments at least one full week (five business days) ahead of the due date. When arranging online bill payments to a new payee, you should allow at least two weeks (ten business days) for the first payment to be received. Can I schedule recurring payments? Yes. You can schedule weekly, semi-monthly and monthly recurring payments. If I schedule multiple bill payments for a single day, how will my account be debited – separately or as a lump sum? Each bill payment is debited separately. If I make an error in selecting an electronic payee and it results in a late fee, am I responsible for the charges? Yes, assuming there was no bank error, you are responsible for late fees when you select the wrong payee. But Reading Co-operative Bank helps you avoid this problem. After you’ve indicated whom should be paid, the amount and when, we’ll give you a summary of your scheduled payment(s) for your review. Only after you’ve confirmed the information do we actually make the payments. Can I place a “stop payment” on an online bill payment? We can place a “stop payment” on an online bill payment, only if the check has not cleared. Contact us during business hours to request a “stop payment.” With which browsers may I access online banking? Reading Co-operative Bank’s online banking can be accessed through most of the popular Web browsers, including Internet Explorer®, Firefox® and Safari®. Your browser must support 128-bit encryption. Does Reading Co-operative Bank use cookies? Reading Co-operative Bank uses cookie technology to record and verify product-registration information (acknowledgment of terms and/or conditions). Allowing a Web site to create a cookie does not give that (or any other) site access to the rest of your computer, and only the site that created the cookie can read it. Therefore cookies are harmless and cannot be used to gather sensitive information from your computer's hard drive. Cookies are not programs and do not transmit computer viruses. You must have cookies enabled to access Reading Co-operative Bank's online banking. Review the question below for more information on how to enable cookies from your browser. How do I change my settings to accept cookies? Select your default browser, and follow the directions below. Firefox 2 or 3
Internet Explorer 6 or 7
Safari 3
Chrome
Getting Started with Online Banking To change your password online:
Exporting information for use with personal finance software, such as Microsoft Money® or Intuit Quicken®, can be accomplished through the ACCOUNT SUMMARY page:
How Do I Perform a Funds Transfer? To perform a funds transfer:
Once the transfer has been completed, a receipt page is displayed where you can print the transaction details and confirmation number. How do I properly log out of an online banking session? Click the LOG OUT button when you are finished or are leaving your computer. This is the best way to protect your account information. What do I do if I receive the message "Secure connection cannot connect with Web server"? You may be using a browser that does not support 128-bit encryption. First, you will need to identify which version and encryption strength your browser is currently running. If you do not meet these requirements, you will need to upgrade your browser. Contact us for more information. How can I get answers to other questions about Internet Banking? Because there are sometimes delays with e-mail, you should not rely on it if you need to communicate with us immediately (for example, to report a lost or compromised password, or to report an unauthorized transaction in one of your accounts). It is also Reading Co-operative Bank’s policy not to accept stop-payment instructions or lost password alerts via e-mail. And because e-mail transmissions may not be secure, information pertaining to your account -- including statement information, transactions or passwords -- will not be delivered to you via e-mail. Therefore, if you have specific questions involving your online banking account or time-sensitive information, we recommend that you call or visit any of our branches directly. You can also phone our Online Banking support representatives during regular business hours at (781) 942-5000. What if I lose (or forget) my password? Call us during regular business hours or visit any of our branches and we will walk you through the process of setting up a new password.
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Site Map | Privacy | Security | Terms of Use © 2009 Reading Co-operative Bank, All rights reserved.
Reading Co-operative Bank offers products and services throughout Middlesex County, Massachusetts. Reading Co-op serves Reading, North Reading, Wilmington, Woburn, Burlington, Billerica, Tewksbury, Andover, Lynnfield, Wakefield, and Stoneham. |
