| Q: Why
does Oak Bank offer Internet Banking?
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A: Oak Bank's Internet Banking service provides
quick, convenient banking services accessed through your personal
computer. Like our Telephone Banking and ATM banking services,
Internet Banking is part of our ongoing effort to make your
financial management quick, easy, secure and available ANYTIME.
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| Q: What software do I need to access Oak
Bank's Internet Banking? |
A: Oak Bank's Online Banking may be accessed on
the World Wide Web via this web site, www.oakbankonline.com. At a
minimum, you will need Microsoft Internet Explorer 6.0+ or
Netscape 6.1+ with strong 128-bit encryption. To upgrade
your software, use one
of the free Internet links below.
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| Q: What about security? Is my financial
information safe here? |
A: This is a common concern with banking and
commerce on the Internet. Technology has been developed to
safeguard data through encryption or coding of information,
creating barriers between systems that can only be crossed with
authorized passwords, and by creating safe pathways to and from
each system.
Any kind of breach in the security of our
systems would be a serious business issue for Oak Bank. Our
success as a financial institution depends on our ability to
manage these systems safely and to continue to earn your trust as
our customer. Please be assured that we will go to every measure
possible to protect the financial information and resources you
have entrusted to us.
You can help safeguard your information and the
banking systems by protecting your password. The password is the
only way to get access into your account. Please keep your
password secure.
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| Q:
How much does Internet Banking cost? |
A: Oak Bank Personal Internet Banking services
are free of charge. Oak Bank is pleased to offer 5 free
check or deposit viewings each month. Additional views
will cost $.25 each. Business clients will be charged
$.20 for each check or deposit viewing.
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| Q: What type of accounts and services are
included in Internet Banking? |
A: With Internet Banking, you can view account
balances, transfer funds between your Oak Bank accounts, make your
Oak Bank loan payments, and download your transaction history into
money management software. You can access practically any account
you have, including: Checking, Savings, Money Markets,
Certificates of Deposit, and Loans.
Business account users please note: personal and
business accounts may not be able to be viewed together in
Internet Banking. You may need to enroll separately and use a
second password to access your business accounts if they have a
unique Tax Identification Number.
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| Q: How can I change my Oak Bank Internet
Banking password or Access ID? |
A: Once you are logged on to Oak Bank Internet
Banking, you can change your password by double-clicking on the
“options” button located in the top border. Your new
password must be 6 to 10 characters long and include at least 1
letter and 1 number. You will then begin using your new password
on your next session.
To change your Access ID, please call our Client
Service Representatives at 608/441-6000. Your user code must be 6
to 10 characters long and does NOT require alpha and numeric
characters combined.
Joint account holders cannot use the same Access
ID to access their Oak Bank accounts, even if they set up
different passwords. When the second signer attempts to log on for
the first time, they will be prompted to change their Access ID at
the same time they are asked to change their password.
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| Q: What if one of my accounts isn't visible
in Internet Banking? |
A: If you don't see an account reported on your
initial Accounts screen, just let us know by sending us an e-mail
message or calling us (608/441-6000).
Business account users please note: personal and
business accounts may not be able to be viewed together in
Internet Banking. You may need to enroll separately and use a
second password to access your business accounts If they have a
unique Tax Identification Number.
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| Q: I share a checking account with someone
else. Do we both need to enroll or can we share a Oak Bank
Internet account? |
A: For security purposes, we recommend that each
person enroll separately and receive a unique password for
Internet Banking.
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| Q: How current is the information I see in
Internet Banking? |
A: The balance for checking and savings accounts
is real-time and will change throughout the day based on your
activity. For example, as you use your Oak Bank ATM Card or
initiate one-time transfers between your accounts via Internet
Banking, your balance will be updated to reflect your activity.
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| Q: What types of accounts can I transfer
funds to and from? |
A: You can transfer funds between any of your
Oak Bank checking and savings accounts within limits specific to
your account*. You also can make a loan payment by transferring
funds from a checking or savings account to a loan account.
*Business account users please note: In most
cases, you cannot transfer funds between personal and business
accounts in Internet Banking.
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| Q: When will my transfer take place? |
A: If you initiate a one-time transfer before
5:00 p.m. CST, the transfer will take place on the same business
day. If you initiate a one-time transfer or a scheduled transfer
after 5:00 p.m. CST, the transfer will take place on the next
business day.
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| Q:
Can I pay my bills with Oak Bank Internet Banking? |
A:
Yes! As of February 2004 you can use Oak Bank's
iBillPay to pay your bills! Imagine paying all your
bills with a simple mouse click! No more writing
checks, buying stamps, or licking envelopes. Your
baby-sitter, phone company and other bills can all be paid
in just a few minutes online. And it's a FREE
service. If you are already an Oak Bank iBanker, log
into the iBank and click on the "iBillPay sign up"
button to enroll. If you have not yet enrolled in Oak
Bank's FREE iBank, click
here to sign up.
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| Q: Is Oak Bank's Internet Banking compatible
with software that I already use to manage my money? |
A: Yes. Oak Bank's Internet Banking can export
transaction information to the leading financial management
software packages available today, including Quicken®, Microsoft®
Money, and Managing Your Money®.
You can download your account activity file to
your PC and import the file into any financial management software
that can accept .QIF (Quicken® data file format) format files, .IIF
(Intuit Quickbooks), .CSV
(Comma Separated File) format files, or .OFX (Microsoft Money or
Open Financial
Exchange) format files.
- Hover over the "Transactions" button.
- Click on "Transactions Menu".
Then fill in the Transactions Search section of the screen.
- Using the pull-down menu, choose which file
format you'd like to use.
- Specify the date range of data to download.
- Click on the "Export" button.
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| Q: What if I have a question or need to talk
to the bank? |
A: Send us a message!
We'll respond
no later than the next business day. Or, give us a call at
608/441-6000 during normal business hours.
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| Q: Is Oak Bank's Internet Banking available
24 hours a day? |
A: Yes. Internet Banking is available 24 hours a
day, 7 days a week, 365 days a year with the exception of systems
maintenance that will occur periodically.
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| Q:
Can I open new accounts in Oak Bank Internet Bank? |
A: The Oak
Bank Internet Bank is able to do many transactions, but at
this time, you will need to make a request to us
directly to open up new accounts. This can be initiated by
filling out the contact us
form. Our future enhancements include the ability to
open accounts while using the Oak Bank Internet Bank.
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| Q.
What is Electronic Bill Pay?
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A:
Electronic Bill Pay is the most convenient service to be
introduced since ATM's. As a subscriber, you can pay
most any bill by Internet 24 hours a day 7 days a week.
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| Q:
How
do I get started with iBillPay? |
A:
The
first thing you'll need to do is organize all of the
information about any individual, family member, friend,
business, payee or professional who generates an invoice for
products or services that you want to pay through Bill Pay. Gather together the names, billing addresses and your account
number with the company or individual (phone numbers are
appreciated if available).
Next, submit your enrollment request to your
Financial Institution for processing by logging in to the
Oak Bank iBank and then clicking on the iBillPay sign up
button at the top of the page.
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| Q: How
soon can I start making payments? |
A: You
may begin using the system as soon as the Oak Bank approves your
enrollment.
An email confirmation will be sent.
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| Q.
How secure is the Bill Pay process? |
A.
When a subscriber comes to the iBill Pay site a secure
connection is established that prevents any outside parties
from viewing transaction information. Any data that is
transferred between locations is also made over secure
connections utilizing data encryption, and all account
information is kept behind a firewall to prevent any outside
access.
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| Q:
Should
the processing date I give be the date the payment is
actually due? |
A:
No.
You need to allow a minimum of five (5) business days
for payments to reach your payee.
Depending on the payee, you may need to allow
additional days due to the distance the payment will travel.
Remember, although you can schedule a payment at any
time, payments are actually sent to payees only on business
days. NOTE: Clients in
*Mountain Time zones should allow 7 business days, Pacific
Time zone, 8 business days.
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| Q:
How
far in advance can I schedule a payment? |
A: There
isn’t a ‘limit’ set in the system, however, it is
recommended you not encourage ‘future dated’ payments beyond
one (1) year.
Users tend to ‘forget’ they have done this and it often
times has a negative impact on their bill pay account.
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| Q:
How
soon are funds actually taken out of my account? |
A: Bill
payments are debited from your account on the processing date you
requested.
There is no float.
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| Q:
What
happens if I don't have enough money in my account to cover
a bill payment? |
A:
If
funds are not available on the requested processing date,
your bill payment will be canceled and a fee may be charged
to your account. The fee is the same if you overdraw
your account with a written check.
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| Q:
What
is the difference between a variable/single bill payment and
a recurring payment? |
A:
A
variable/single bill payment is a one-time payment such as
your telephone bill where the amount fluctuates each time.
Or perhaps it is a payment you do not make regularly such as
a florist you use only occasionally.
A
recurring payment is one made regularly for the same dollar
amount, on the same day each month such as your car or
mortgage payment.
You need only to set up a recurring payment once in
the system and access the system only when the payment is to
be changed or canceled.
Otherwise, your recurring payments will be made
automatically.
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| Q:
How
are my payments delivered and how can I ensure that my payee
receives my payment by the due date? |
A:
You
may schedule payments to be initiated on the day you enter
the information, on a future date or on the same date each
month. Although you can enter payment information 24
hours a day 7 days a week, payments can only be initiated on
business days.
After funds are withdrawn from your account, we may remit
your payments by electronic funds transfer, or if the payee
does not accept electronic payments, by mailing a check
drawn on an account we maintain for this purpose, or by some
other appropriate means. Because of the time it takes
to remit your payment to the payee, they will not receive
payment on the processing date (the date you instructed us
to deduct the funds from your account). Therefore, in
order to provide sufficient time for payments to be received
by your payee, the processing date should be a minimum of
five (5) business days before the bill's actual due date.
Additional days must be added to this time frame if the
payment is traveling outside of a 4 state radius.
NOTE: Clients in *Mountain Time zones should allow 7
business days, Pacific Time zone, 8 business days.
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| Q:
Why does it take five business days and sometimes more for
payments? (*Mountain Time zones, 7 business days,
Pacific Time zones, 8 business days) |
A.
Although a number of your payees accept payments
electronically, many do not. For those that do not
accept electronic payments, we must send a check to that
payee through the U.S. mail. Once the payee receives
the check it may also take a day or so for the payee to
process the check and post it to your account. Even
for electronic payments, it may take two or three days for
your account to be posted. Holidays must also be taken
into consideration.
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| Q.
How close to the original payment date can I change or
cancel a bill payment? |
A.
You can change or delete a bill payment up until Oak
Bank’s specified cutoff time of 2:00 pm Central Time on
the original payment date.
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| Q.
What should I do if a payee has not posted my payment? |
A.
First, be sure to allow a minimum of five (5) business days
for a payee to receive your payment. CONTACT YOUR
PAYEE. If a payee does not post your payment within
ten (10) business days of the date you requested the payment
to be processed, simply call the toll free number
1-866-224-7589 and press "0" for subscriber
services. We will follow up on the payment and get
back to you within 24 to 48 hours. *NOTE – Clients
in Mountain Time zones must allow 7 business days, Pacific
Time zones, 8 business days.
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| Q.
How do I add more payees? |
A.
You may use the “SET UP ACCOUNTS AND PAYEES” button
online.
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| Q.
How can I prove payments and transfers were made? |
A.
Each time you enter a payment you are given a transaction
number so you can be sure we received your request. In
addition, payments will appear on your monthly statement.
Or, you may go online for a list of your history or call the
Bill Pay system to hear a listing of your most recent
transactions.
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| Q.
How much does the Bill Pay service cost? |
A.
Oak Bank offers the benefits and convenience of Bill Pay
services to you free of charge. Account research and
stop payment charges will be assessed in the same way they
would be if you use paper checks, at the rates published
in Oak Bank’s Schedule of Service Fees. These fees
are subject to change. Oak Bank will notify you in
writing regarding any fee changes at lease 30 days in
advance
of the effective date of these changes.
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| Q.
How can I cancel my Bill Pay service? |
A.
To make sure no payments are missed or duplicated you will
first need to delete any pending scheduled payments.
Then contact Oak Bank and they will be happy to take your
request.
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| Q.
What if I have a question and want to talk to a real person? |
A.
You can reach a subscriber service representative by calling
the toll free number 1-866-224-7589 during the hours of 6:30
a.m. to 10:00 p.m. Monday through Friday, CST. We also
have live chat available on the iBillPay site during those
same times. If calling outside of these hours, simply
leave us a message and we'll call you back on the next
business day. We are closed on Federal Holidays.
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| Q.
How can I be sure no one else can access my bill paying
service? |
A.
You will access the system by entering the Oak Bank iBank
with the USER ID and PIN that you originally set up.
Only individuals with this information can access your
account. Be certain not to release this information to
anyone you do not want to fully authorize as a user on your
account. SAFE GUARD! SAFE GUARD! If for
any reason you believe this information has been
compromised, please contact your Oak Bank or change
your PIN immediately.
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| Q.
How secure is the Bill Pay process? |
A.
When a subscriber comes to the iBill Pay site a secure
connection is established that prevents any outside parties
from viewing transaction information. Any data that is
transferred between locations is also made over secure
connections utilizing data encryption, and all account
information is kept behind a firewall to prevent any outside
access.
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| Q.
If I currently have an automatic debit for a bill coming out
of my checking account, should I cancel this debit and use
my new bill pay program? |
A.
It is recommended that you NOT cancel any auto debit UNLESS
your new bill pay program has the ability to electronically
remit this payment to your payee. To determine if your
payee is electronic with your new bill pay program, simply
call the service and this information will be provided to
you. Payees who have their own debit program will
often times not ALLOW 3rd party processors to remit payments
to them. Our main concern is that your bill be paid in
a timely manner and safely. Some typical payees are,
Insurance companies, Utility companies and Mortgage
companies. Some other considerations….auto debits
come out of your account on your ‘due’ date, therefore,
you have the advantage of the float until then. With
the bill pay program, your payment will be deducted from
your account on the ‘process date’, which should always
be a minimum of 5 business days BEFORE your due date.
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| Q: Is
there anyone I cannot pay through Bill Pay |
A:
You may pay almost any payee
you wish. There are several restrictions: 1) The merchant
must be located in the United States; 2) Payments may not be
remitted to tax authorities or government and collection
agencies; 3) Payments may not be remitted to security
companies such as Ameritrade for stock purchases or trade
taxing authorities and 4) Court directed payments are
unauthorized (Alimony, child support, or other legal debts).
Don't forget you can use this system to send payments to
your son/daughter in college, pay your local orthodontist,
credit cards, charitable donations, etc. A payee is defined
as anybody (company or individual) to whom you want to send
money.
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| Q.
Does the bill pay system offer a payment guarantee? |
A.
No. Unfortunately, whether you write paper checks or
use the bill payment system, we are not in a position to guarantee
payment. Once the payment is remitted, we are unable
to control the posting cycle. We do, however, provide
support for any bill pay issues.
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Q. Will I be able to change
my Authentication Image? |
A. A
default image will be provided to you at enrollment, and you
must keep this selection initially. You will then be able to
change your Authentication Image after completing the
enrollment process. You will be able to select from a
library of thousands of images.
To do this click on
Options>Change Security Data>then click ON the picture you
want to select as your new pass image. Clicking on
"remember picture" only keeps it on the screen for you to
then click on more images to review more. Finally you will
need to click on SUBMIT for the changes to take effect
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Q. I sometimes access
Internet Banking from a public computer, such as at an
Internet café or at work. Can I still use those types of
computers to do my Internet Banking? |
A. Yes, you can continue to use
public computers to access Internet Banking. As part of your
enrollment in the Layered Authentication process from your
home computer (or other non-public computer you regularly
use), you will complete a series of challenge questions. If
you need to access Internet Banking from a non-public
computer, you will be provided with an additional
confirmation process using the challenge questions, and then
will be granted access to the system.
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Q. Am I required to enroll
in Layered Authentication? |
A. Yes,
we are requiring all Internet Banking users to enroll in
Layered Authentication for their security. We're confident
that you will find the process easy to use and convenient.
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Q. How does the
Authentication Image protect me? |
A. The
Authentication Image that is presented back to you is a
verification that you are accessing our legitimate Internet
Banking site. By presenting the Authentication Image and
passphrase that you established during the enrollment
process, we are providing an assurance to you that your
activity has not been redirected to a fraudulent site where
your login credentials could be compromised.
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Q. Why should I register my
computer? |
A. Each computer has a unique set
of characteristics, similar to a fingerprint. By registering
the computer, its unique set of characteristics will be
stored by Internet Banking and used as additional validation
criteria during subsequent logins. If you choose not to
register a computer, you will be presented with a different
validation process consisting of challenge
questions/answers. Thus, we encourage you to register your
computer and make for a more convenient, yet secure, login
process.
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Q. Is there a limitation on
the number of computers I may register? |
A. There
is no limit on the number of computers you may register.
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