FAQs
Frequently asked questions about Extraco products and services

Banking FAQs Bill Pay FAQs

E-Bank FAQs Mortgage FAQs

Banking FAQs

Q. How can I check the transactions and balance in my account?
A. You have two options to check your account transactions and balance — Phone24 and E-Bank.

Q. How can I get set up for Phone24 and E-Bank?
A. By contacting your relationship manager at an Extraco Financial Center.

Q. Why does it appear that my VISA® check card was charged twice for the same transaction?
A. When you use your check card, a pre-authorization code is issued for the amount of the transaction and that amount is placed on hold. Once the settlement is posted to your account, the pre-authorization amount will be credited back to your account. A pre-authorization will hold for up to three business days.

Q. When are direct deposits available?
A. Direct deposits are available on the settlement date of payment.

Q. What happens to a check that is returned?
A. The check is returned to the payee's bank and the amount is deducted from the payee's account. That bank would return the check to the payee.

Q. Can I change my PIN on my ATM or debit card?
A. No, the PIN is in the magnetic strip that runs across the back of the card. To get a different PIN, another card will have to be issued.

Q. What happens if the ATM keeps my Extraco ATM or debit card?
A. It depends on where you use your Extraco ATM or debit card. If you lose the card while using an Extraco ATM machine, you will be able to reclaim the card. Please contact Customer Service to determine when your Extraco ATM or debit card will be available for pick up. If you lose the card using any other financial institution's ATM machine, you must request a new card.

Bill Pay FAQs

Q. When will the money be taken out of my account?
A. For an Electronic Payment, funds are debited the same day that the payment is sent, if the payment is sent before noon. Electronic payments submitted after noon are debited the next day during bill pay processing. Check payment funds are debited from the account when the check clears the account.

Q. What if I do not have enough money in my account?
Check payments are handled in the same manner as a check written out of the customer's checkbook against an insufficient balance.

Electronic payments are verified for funds availability during processing. If the funds are available, the customer's account is debited for the payment, and the payment information is sent for processing. If the funds are not available with the 2 AM processing, another attempt will be made with the noon processing. The customer will receive a message after processing informing him that the payment could not be processed due to insufficient funds. The payment will continue to be attempted until either the customer has the funds to let it go through or the customer deletes the payment.

Q. How late in the day can I enter, edit or delete?
A. You can add, edit, or delete a payment up to 2:00 am for the 1st processing and up to noon for the 2nd processing on the day the payment is sent.

Q. What happens if I have a scheduled payment that falls over a weekend or holiday?
A. Bills do not get paid on holidays or weekends. If a SCHEDULED bill payment falls on a holiday or weekend, it will be paid on the Friday before the weekend, or the last working day before the holiday.

Q. Are there any merchants that I cannot pay through Bill Pay?
A. Customers cannot send an electronic payment to a payee that is not in the electronic database. Payees are not verified for check payments.

Q. Can I get a copy of a cancelled check?
A. Yes. Cancelled checks can be printed from E-Bank or can be requested through Extraco Banks customer service.

Q. How long is the history retained in the View payment History section?
A. Payment history for active and deleted payees is retained and viewable indefinitely.

Q. How far in advance should I set up a payment to ensure it is paid on time?
A. For an electronic payment, allow 3 to 4 business days from when the payment is submitted.

For a check, we guarantee that the check will be in the mail on the same day the payment is submitted, if it is entered before noon. (This is the same as if you wrote the check out of your checkbook, and put it in the mail on the same day). Allow at least five business days for check payment. (We have no control over the U.S. Postal Service).

Q. Are there any minimum and maximum payment amounts?
A. No, provided there are sufficient funds in the account for payment.

Q. How far in advance can I schedule a payment?
A recurring scheduled payment can be set up in advance to any date in the future. A one time payment can be set up to be sent 5 years in the future.

Q. Can I have multiple payments to the same payee?
A. Yes; however, a different alias should be created for each account to keep the payees separate.

Q. Can I stop payment?
A. A stop payment cannot be placed on an electronic payment.

A stop payment may be placed on a check payment following the same procedures as for a regular check written out of the customer's checkbook.

Q. How many payees may I have set up?
A. There is no limit to the number of payees a customer can have.

Q. How do I know if a merchant is electronic or check?
A. The electronic database must be searched to set up a payee for electronic payment. If the payee is found in the database and the account number is accepted the payee will be set up for electronic payment. If the payee is not in the electronic database or the account number is not accepted for the matching payee, the payee must be set up for check payment.

Once a payee is set up the type of payment sent to that payee is listed in the "type" column on the payee list page.

Q. Will the memo field that I fill out when setting up a payment be passed on to the merchant?
A. Yes, the memo will be printed on the memo line of a check payment.

E-Bank FAQs

Q. How secure is E-Bank?
A. The following controls are in place for E-Bank:

• SSL Protocol - E-Bank access requires you to use a web browser that uses SSL protocol. SSL stands for Secure Socket Layer, which lets one computer verify another's identity to allow secure connections.
• 128 Encryption - To ensure the highest level of security, we require that all users have browsers that support 128-bit encryption.
• Firewalls - A firewall is a specially programmed computer that connects a local network to the Internet and, for security reasons, lets only certain kinds of messages in and out.

Q. How far back can I view my balance information?
A. You can view your previous statement as well as your current statement.

Q. When will my transfers show in my account?
A. All same day transfers made Monday through Friday before 5 p.m. CST will show in your account immediately. All transfers made on a weekend, bank holiday, scheduled or requested after 5 p.m. CST will be processed one business day later.

Q. What are your guidelines regarding passwords and PIN numbers?
A. We highly recommend that you follow these guidelines when securing your codes:

• Do not reveal your codes to anyone.
• Avoid selecting codes based on personal information.
• Avoid keeping written records of your codes.
• Do not leave your computer unattended when connected to E-Bank.

Q. What happens if I forget my PIN?
A. Customer Service will be able to reset your PIN number to the original number assigned to you. Your Extraco E-Bank ID will remain the same. During regular business hours, please contact Customer Service.

Q. What should I do if I think someone has my access codes?
A. Immediately change your current PIN number and Personal ID under the "Account Management" option. During business hours, contact Customer Service.

Q. What kind of browser do I need?
A. Extraco E-Bank requires a browser to support 128-bit encryption with SSL protocol.

Q. What happens if I don't log off of the system?
A. Extraco E-Bank has a 5-minute time-out feature. If the system has been inactive for over 5 minutes, the user will be required to re-enter his ID and PIN number.

Q. Why does my E-Bank account become locked?
A. For security reasons, an E-Bank account is locked after the PIN is entered incorrectly multiple times.

Q. How can I get my E-Bank account unlocked?
A. You should call Extraco Customer Service during business hours. To expedite the call, please have your account information available.

Q. Why do I have to change my E-Bank PIN every 120 days?
A. It is an Extraco best practice for you to change your E-Bank PIN every 120 days.

Q. How do I log out of E-Bank properly?
A. By clicking the Exit button at the upper left of the screen.

Mortgage FAQs

Q. Will the lowest interest rate always be the best deal?
A. While rate is important, you should look at the overall cost of your loan. This includes the annual percentage rate, loan fees and discount and origination points. Some lenders add origination points into their quoted points while other lenders add an origination point in addition to their quoted points.

The cost of the mortgage, however, cannot be your only criterion. You should also consider the financial strength of the lender; asking family and friends for referrals and interviewing prospective mortgage companies; whether the loan officer is committed to your best interest and will deliver what he/she promises; that the absolute lowest quoted rate may not be the best company for your mortgage business.

Q. What documents must I provide when applying for a loan?
A. Be prepared to provide:

• Verification of income, including your pay stub and tax returns for the previous two years.
• Bank account numbers and details about your long-term debt, including credit cards, auto loans, child support, etc.
• If you are self-employed, you may need to provide financial statements for your business. Lenders want detailed information. For example, the origin of your down payment will be queried.

NOTE: Be sure to inform your lender of any changes in your employment, salary, debt or marital status between the time you submit your application and the time you close your loan.

Q. Does it make sense to make additional payments to my mortgage or should I invest that money elsewhere?
A. Pre-paying your mortgage shortens the term of your loan which will save you thousands of dollars in interest. Pre-paying your mortgage is an easy, risk-free investment. Even if you round your monthly payment up to the nearest $100, it will save you money over the long term. If your mortgage rate is 8.5% per year, that's what you'll earn on your pre-payment. Compare that return with what you'd earn in other comparably safe investments, such as a Certificate of Deposit (CD). Also, weigh the advantages of pre-paying your mortgage against paying off debt. If your credit card interest rate is 17%, it makes more sense to pay off this higher-interest debt rather than to pre-pay your 8.5% mortgage.

Q. Will Extraco share or sell my information?
A. Extraco does not sell your information to third parties. Your information is shared with other Extraco Affiliates only, unless a written request is made by you instructing us otherwise.

Q. Do I have to enter my Social Security Number when applying for an online loan? A. Although our online system is secure, you are not required to enter your Social Security Number. If you feel uncomfortable entering this information, you may enter a number that is obviously false (such as 111-11-1111). We will require your actual Social Security Number when you call to put your loan in process.

Q. If I haven't found a property, can I still apply?
A. Yes. Please feel free to complete the online application leaving the subject property fields blank.

Q. Does completing an online application automatically lock in a rate?
A. No. Once you put your loan application in process, you can call your mortgage lender and lock a rate between 10 a.m. and 5 p.m. CST, Monday through Friday.

Q. What is PMI (Private Mortgage Insurance)?
A. PMI or Private Mortgage Insurance is normally required when you buy a house with less than a 20% down payment. This insurance protection is provided by private mortgage-insurance companies. The cost of PMI increases as your down payment decreases. Mortgage insurance is a type of guarantee that helps protect lenders against the costs of foreclosure.

Q. When will I receive my IRS Form 1098 Mortgage Interest Statement for interest and real estate taxes paid during the past year?
A. Your IRS Form 1098 Mortgage Interest Statement for use in filing your Annual IRS Tax Statement will be mailed during the last week of January. This form will be included in your new coupon book. If your loan payment is set up for automatic draft from your bank, you will receive a coupon book that includes the IRS Form 1098 and other information, but no coupons. If your loan has been paid in full or the servicing transferred to another lender, you will receive an IRS Form 1098 by separate mailing.

Q. When will I receive my coupon book for my new loan?
A. After you close the loan, you should receive a coupon book within 30 days.

Q. I do not have any payment coupons for making my monthly payment. When will I receive additional coupons?
A. New coupon books are mailed to Extraco Mortgage customers each year at the end of January with coupons beginning with the March payment. This coincides with our annual escrow analysis of loans to reflect any payment change beginning with the March payment.

Q. If I don't have a coupon, do I still have to make my payment?
A. Your mortgage payment should be made on or before the Due Date as specified under the terms of your mortgage. Usually this payment is due on the first day of the month. If you lose your coupon book or do not have a coupon available for some other reason, you may send your payment without the coupon. Be sure to write your loan number on the memo portion of your check so that we may credit your account correctly.

Q. Why is there only one Social Security Number on my annual loan statement?
A. The IRS Form 1098 is reported under the Social Security Number of the primary borrower. It is the borrower's responsibility to make sure the tax information is filed by the appropriate parties.

Q. My loan was transferred to another lending company. Why doesn't my Annual Loan Statement show the total interest and real estate taxes paid during the year?
A. The interest and real estate taxes shown on your annual loan statement issued by Extraco Mortgage is for the time period your loan was serviced by Extraco Mortgage. Any additional interest or taxes paid while your loan was serviced by another lender should be reported by them. You must contact them for this information.