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Dear Valued Customer,
South Shore Co-operative Bank is very excited to announce a decision to upgrade our online banking and bill pay payment product. You'll find a whole new look and feel along with additional features/functions and a superior level of service.
As always, we take seriously our commitment to provide the very best in service and products to our customers. During this transition please note the following dates with regards to changes that will occur:
MONDAY
May 19, 2008 - Our current site will be taken down at 3:00 PM!
Therefore you will not be able to access the system.
WEDNESDAY
May 21, 2008 - Our New Online Banking site will be available
THURSDAY
May 22, 2008 - New iPay Technologies' "Bill Pay" will be available
For your review, I am enclosing the answers to some of the most frequently asked questions (FAQ's). Please take the time to review these.
We hope that you'll join us in our enthusiasm for this new exciting and positive change. If you have any questions, please call us at 800 695 1300 or stop by one of our branch offices. We will welcome the opportunity to assist you in answering any questions you might have.
Thank you for choosing South Shore Co-operative Bank as your bank of choice.
Sincerely,
Donald P. Gill
President and CEO
When will conversion to the new online banking application occur?
The conversion period is scheduled for the third week of May. The present online banking site will be shut down on Monday, May 19th at 3:00 PM. You will be able to access the new e-Banking site on Wednesday morning, May 21st, with the bill payer application going live Thursday morning, May 22nd.
Will my transaction history information also be available on the new e-Banking site?
Consumer accounts will retain 90 days of transaction history and business accounts will retain 60 days of transaction history. If you feel that access to earlier transactions are necessary, please print transaction information prior to May 20th or contact us at 1-800-695-1300 for assistance.
Will I have the same USER name after conversion?
Generally user names will remain the same after conversion. However, those customers with user names longer than 15 characters or user names that contain special symbols (including symbols such as hyphens, periods, #,or simply a space in the user name) will need to change their user name prior to conversion.
Will I still have the same PASSWORD after conversion?
Passwords will not be brought over into the new online e-Banking application; but instead will default to the last 4 numbers of the primary user's social security number. The user will be directed to change their password during their first log-in attempt after conversion. You will also be prompted to read and accept a new e-Banking agreement at that time.
Will my bill payment payees' information be brought over to the new application?
Yes, all of your bill payment payees will be transferred to the new application; you will not need to re-enter payee information.
What will happen to transactions scheduled for May 20th and 21st?
Any scheduled bill payments on these days will not be processed until May 22nd and any scheduled transfers between your accounts will not be processed until May 21st. All other scheduled transactions will be brought over and processed as scheduled with the new e-Banking site. If you have a payment scheduled during the conversion period, we encourage you to reschedule it or mail your own check.
When I create a bill payment on today's date, when will it be posted to my account and when will it be processed?
If a bill payment is created on today's business day prior to 4:00 PM, your account will be charged and it will be processed either electronically or by paper check the following day.
What about bill payments scheduled for future dates?
Future dated bill payments will be processed on the date scheduled after 4:00 PM (payments scheduled on non-business days such as weekends or holidays will be processed on the next business day possible).
What about transfers of funds between my accounts, when will they be processed?
Same day transfers would happen immediately. Future dated transfers are scheduled to process at 7:00 AM.
Can I transfer funds to one of my accounts located in a different financial institution?
We apologize but at this time, we are unable to offer this service.
Can I transfer funds to an account that I do not own?
This is called a cross-customer transfer and funds may be transferred to an account with different ownership. Only those accounts located at South Shore Co-operative Bank qualify with permission from the other account holder.
Will I be able to allow multiple users to have access to my business accounts?
Yes, multiple users may be created by the company's "Super User". Present customers will be contacted in advance to explain the "Super User" role.
Will I be able to assign different access authorities to different users?
Yes, the individual with the "Super User" role can assign different authorities to multiple users. Present customers will be contacted in advance to explain the "Super User" role.
Can I transfer funds to an account that I do not own?
This is called a cross-customer transfer and is not offered as a part of the Business e-Banking product.
Who do I call if I have any questions about my bill payments?
Please contact customer support at our toll free #866-648-4249 with any questions regarding bill payments. This is available Monday through Friday 7:30 AM to 5:30 PM EST.
Who do I call if I have any other questions about e-Banking?
For additional customer support, you may call us directly at South Shore Co-operative Bank, #800-695-1300 during normal banking hours.
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