You have questions? We have answers!
At Paducah Bank we pride ourselves on listening to our customers, responding promptly and with as much information as we have available. We know you want to make the most of your banking relationships and we feel precisely the same way. So here are a few of our most frequently asked questions. But remember, if you don’t get the information you need here, feel free to call one of our helpful customer service representatives and they’ll be happy to answer any question you don’t see included at this website link.
Q. What are the restrictions on the type of mobile devices that can be used to access accounts?
A. Paducah Bank’s mobile solution is phone device agnostic. It works with any web-enabled mobile phone device whose network allows secure SSL traffic.
Q. What functions can I perform from my mobile device?
A. Paducah Bank Mobile Banking provides these functionalities:
- View transaction history
- View account balances
- Transfer funds between accounts
- Pay bills to existing payees
- View alerts
Q. How do I know if my transfer or bill payment was entered successfully?
A. Each time you make a transfer or bill payment, a confirmation SMS Text Message will be sent to your mobile device. If you do not receive a confirmation text message, double check to make sure the transaction went through.
Q. What if I no longer want to be a mobile user?
A. Log in to your Internet Banking account at www.paducahbank.com > Select Options > Mobile Settings > Deselect Activate Mobile Banking Access > Click Agree.
Q. What happens if I lose my mobile device?
A. Since your account data is not stored on your mobile device, your information cannot be stolen. When you replace your device, simply edit your mobile settings and make any changes to the wireless provider and/or phone number.
Q. Why can’t I add a new payee?
A. Functionality is limited to sending payments to already-established payees. To add a new payee, log in to your Internet Banking account, select Bill Payment, and add a new payee. You can then submit payments to that payee via your mobile device.
Q. What happens if I lose communication/signal during a transaction?
A. When you complete a transaction from your mobile device (bill payment, funds transfer, etc.), you will receive an SMS Text Message as confirmation that the transaction was successful. If you do not receive this message due to a dropped call or lost signal, check your accounts and re-submit any transaction that did not process.
Q. What do I need to do if I get a new phone?
A. If you get a new phone but are using the same phone number and provider, no changes are necessary. If you switch your provider and/or phone number, log in to your Internet Banking account via the Internet and update your information on the Options > Mobile Settings page. You will not receive SMS Text Messages regarding mobile banking transactions if your phone number is not correct.
Q. How can I search for a transaction?
A. You will only be able to view 15 days worth of transaction history on your mobile device. There is not a search feature.
Q. Can I use any mobile device to access my accounts?
A. Yes. You can access your accounts via any mobile device that is web-enabled and allows secure SSL traffic. The only difference is that SMS Text Messages will be sent to the device entered when enrolling for mobile banking, not any device from which you perform a transaction.
Q. Can I add a new bill payment payee via mobile banking?
A. No. You can only add payments to payees already established in your Paducah Bank Internet Banking account.
Q. How do I delete a bill payment that I set up through my mobile device?
A. You must log in to your Paducah Bank Internet Banking account and delete the payment from the main menu of the bill pay module.
Q. When I try to enter an amount for a bill payment or transfer, I can’t enter any numbers, only letters. Why?
A. Check your phone’s settings to make sure you don’t have alpha-only enabled on the keypad.
Q. What if I can’t get my mobile device to work with Internet Banking?
A. There are a number of reasons why you may experience trouble accessing the mobile version of Internet Banking on your phone. To use the mobile version, your phone will need to meet the following minimum requirements:
- You must first enroll through traditional Internet Banking before you can gain access.
- Your mobile device must be web-enabled.
- Your mobile network must allow secure SSL traffic. (You may need to contact your mobile provider.)
Q. What types of transactions can I perform using online banking?
A. Online banking allows you review account history and transactions, transfer funds between accounts, send customer service requests, view cleared checks, pay bills and more.
Q. Can I nickname my accounts?
A. From the “Options” menu you can choose “Accounts” and set up “Pseudo Names” for each of your accounts.
Q. How can I add or delete an account on internet banking?
A. Send us a message via the “Contact” feature and we will be happy to add or delete and account you request.
Q. Can I change my address using online banking?
A. You may notify us of your address change via the “Contact” feature on internet banking and we will be happy to update your banking information.
Q. Can I download my transactions into financial management software, such as Quicken?
A. To download your transactions you can go the “Accounts” menu and choose “Download” then choose the software program you wish to use.
Q. Can I view my statements online?
A. The information pages are available for the past 12 months cycles under the “Statement” tab. This statement format does not include the images.
Q. Can I transfer funds between accounts?
A. You may transfer between any of your accounts that are not set up as “view only”.
Q. How many months of transaction history can be viewed?
A. There is approximately 4 months of transaction history available at a time.
Online Banking System
Q. What equipment do I need to access Online Banking?
A. A computer with internet access is needed for Online Banking. All internet banking data in encrypted.
Q. Can I access my online banking account through my PDA or wireless phone?
A. Simply go to the “Options” menu on your PC and fill out the “Mobile Web Settings” page to enable access from a mobile device.
Q. What browsers can I use to access online banking?
A. The current and prior major release of Internet Explorer, Firefox, and Safari on a rolling basis will be supported. Each time a new version is released, the new version will be updated and support will cease on the third-oldest major version.
Q. How do I check my browser version?
A. Browser version may most often be checked by selecting from the browser’s menu “HELP” and then “ABOUT”.
Q. How do I enroll in Online Banking?
A. We have Online Banking enrollment forms available at all of our branches. You can also obtain an enrollment for anytime by going to “24/7 access” on our website and choosing “Internet Banking” the printable enrollment forms are about halfway down the page. You can drop it by any branch or e-mail it to firstname.lastname@example.org.
Q. Who do I call if I need assistance with Online Banking?
A. If you need assistance with internet banking please call us at 575-5700.
Q. Who can I pay with Online Banking Bill Pay?
A. You can pay any business or individual via Bill Pay. All individuals and some businesses will be sent as paper payments.
Q. Can I send a payment outside the United States?
A. Bill Payments can be sent to United States and its territories.
Q. Can I cancel or stop payment on a bill payment?
A. An electronic bill payment can be cancelled anytime prior to it being sent. You can issue a stop payment on a paper bill payment anytime until the check has cleared your account.
Q. If I do not have sufficient funds to cover a bill payment, what will happen?
A. Electronic bill payments are pre-funded so the system will try to send your payment twice each day until there are available funds to make the payment. Paper payments will be sent regardless of your balance at the time and will attempt to clear your account when they are presented for payment in the same manner as a hand signed a check.
Q. I have a payment due tomorrow. Is there a cut-off time? How can I ensure that my payment will be received on time?
A. We recommend allowing 3 business days for payment on an electronic bill payment and 5 to 8 business days for paper. If a payment is due sooner than that we recommend going to the businesses website to make the payment.
Q. Can I pay bills from multiple accounts?
A. You can add any of your checking accounts for bill payment access.
Q. What determines if my bill payment is sent electronically or by check to the person or company that I am paying?
A. Our 3rd party processor, I-Pay, maintains a list of companies that have chosen to receive their payments electronically. All other payments will be sent by paper.
Q. How can my company begin accepting electronic payments?
A. Please contact us @ 575-6685 and we will be happy to assist you with contacting I-Pay.
Q: How long does it take to open a new account?
A: Typically for new customers it takes approximately 20 minutes. For existing customers if you call ahead we will get paperwork ready so you can come by at your earliest convenience and it only takes a few moments to sign.
Q: How soon can I start using my new account?
Q: Who can I call with questions about opening a new account ?
A:You can call one of our dedicated WOW Bankers @ 270.575.5700.
Q: What is the minimum to open a new account?
A: It depends on the account type that you are opening but most checking accounts can be opened with as little as $50.00.
Q: Can I use my WOW check card at an ATM?
A: Yes! You can use the ATM to withdraw cash, make a deposit, transfer money between accounts or change your PIN number.
Q: Do you charge a fee for your WOW check card?
A: **As long as you are using the card at least once a month there is no fee.***PLUS with our DIME-A-Time rewards we will actually pay you a dime each time you use it!
Q: What should I do if my WOW check card is lost or stolen?
A: Report it immediately by calling 1.800.264.4274 or 270.575.5700.
Q: Can I get overdraft protection for my account?
A: Yes! We offer several types of overdraft protection. Please drop by one of our branches and ask for details.
Q: Must I have a trust to use your investment services?
A: Many of our clients choose trust arrangements because of the unique advantages they offer. But no, you are not required to create a trust. If you prefer, you can put us to work on a less formal basis. All it takes is a simple letter of instructions, designating us to act as your investment agent
Q: What are the advantages of a trust?
A: With a trust you can not only draw on our broad investment capabilities but also arrange to have us perform any number of special services, now or in the future. These personalized services could range from making payments of estimated taxes while you are traveling abroad to providing full personal financial management in the event you suffer an incapacitating illness.
Also, you can name one or more beneficiaries to receive the assets of your trust at your death. These distributions avoid probate. Or, you can have your trust continue beyond your lifetime, serving as a source of continuing income and support for your spouse, a child or others whom you designate.
Q: Is it difficult to set up a trust?
A: No. To put us to work as your trustee, you take two steps. You deliver the money and/or securities that you wish to place in trust. And you give us your written instructions in the form of a trust agreement. The agreement, drawn up by your attorney, is signed by you (as creator of the trust) and by us (as trustee). That’s all there is to it.
Trusts of this type are often called living trusts to distinguish them from testamentary trusts (those established under the terms of a will). Living trusts created for the purpose of personal asset management are also known as revocable trusts. That’s because the person who created the trust reserves the right to cancel or revoke it.
Q: If I create a trust, can I keep control?
A: Certainly. Usually our trust clients keep control in three ways:
First, the trust agreement specifies that the creator may make withdrawals
(or additions) at any time.
Second, as just mentioned, the creator reserve the right to cancel the trust.
Third, the creator reserve the right to give us new or different instructions by amending the trust agreement.
Q: Can I make the investment decisions?
A: If you wish. Most of our clients look to us for objective, unbiased portfolio supervision because they lack the time or specialized knowledge to do all the necessary investment homework themselves. But you can delegate as much or as little investment responsibility as you want. After all, it is your trust.
For example, you might spell out your goals and requirements in some detail, then leave the selection of specific investments to us as trustee.
Or you might start out by asking us to submit each proposed investment change for your approval until you are satisfied that we are interpreting your requirements accurately.
Or you might ask us to submit recommendations while also researching some opportunities on your own.
Or…But by now you have the picture. With a trust, you make the rules.
Q: Is trust service expensive?
A: No. Our fees are competitive with those charged by investment advisory firms (for services that may not include custodianship of securities, recordkeeping and other conveniences) or by mutual funds.
Q: How big must a trust fund be?
A: If you think of millions of dollars when you hear the word “trust,” you are the victim of a widespread misconception. Today’s trust institutions have developed ways to handle even relatively small trusts efficiently. In any case, we do not think in terms of fixed minimums. Instead we ask ourselves, “Is a trust the best way to meet this person’s financial management needs?”
To find out whether a trust would be right for you, schedule an exploratory talk with a trust officer.
Q: How much of a return will I get on my money?
A: That depends on your goals—current income, long-term growth to offset inflation, or some balance of the two—and on ever changing investment conditions.
Historically, diversified portfolios of good-quality stocks have produced a total annual return (dividends plus growth in principal value) averaging around 10%. Bonds have produced somewhat lower returns overall, but they offer a higher level of current income than stocks.
As trustee our goal is to provide reasonably consistent returns over the years. We emphasize careful asset allocation, the selection of quality investments and constant vigilance.
Q: Are trust funds insured by the FDIC?
A: Primarily, trust funds are invested in stocks, bonds or other income producing assets. These trust investments are not bank deposits. Securities and other assets administered by a bank as trustee are held separate from the bank’s own assets, under strict audit controls and cannot be reached by the bank’s creditors.
Q: How can I find out more about trusts?
A: That is easy. The trust and investment professionals at Paducah Bank and Trust Company will be glad to assemble further information for you, analyze your investment requirements and answer questions not covered here. Please call us at (270)575-6627 for more information.
How Do I?
Find Branch Hours: Visit the Location page.