The Halstead Bank

The Halstead Bank
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Help - Frequently Asked Questions About Online Banking

Q What is Online Banking?
A Online Banking is a fast, FREE, easy way to access your account information using your computer.  With Online Banking you can:

  • Check your balance.
  • View transaction history.
  • View images of your checks.
  • Transfer funds between your accounts.
  • Pay bills without writing a check.
  • Download transactions to QuickenTM or MoneyTM.

Q How frequently is my Halstead Bank information updated?
A The Halstead Bank updates all customer information nightly. Whether you access Online Banking, Telephone Banking, or contact customer service directly, your account information is updated nightly to reflect all account activity. Transactions made with an ATM or Debit card are updated in realtime and will display a "memo" description until the transaction is hard-posted that evening.

Q Can I look at all of my transactions at any time using Online Banking?
A Yes, you have access to your account information 24 hours a day, 7 days a week!

Q How does bill payment work?
A To help you understand the process, we have provided a diagram.

Q How long does it take to set up a new payee in the bill payment system?
A Once you have entered a new payee into the Electronic Bill Payment System, it takes two business days to set up the payee to receive payments.

Q Even though it takes two business days to set up a new payee, can I still enter a bill payment to the new payee during those two business days?
A Yes. You may enter a payment to your new payee immediately; however, the payment will not actually be made until the payee is set up. Any payments made to the payee before the payee is added to the system will be delayed in reaching the payee by approximately two business days.

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 within one to three business days starting on the business day following the payment date. If you make a payment on Monday, you can expect the money to be debited from your account by Wednesday or Thursday the same week.

Q How long does it take for a payment to reach the payee?
A A payment that generates an ACH payment will credit the payee's account within one to three business days; whereas, a paper check will take up to ten days.

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