Why are the charters merging?
Merging the two charters under our corporate umbrella will allow operational efficiencies, as well as allow us to provide a more consistent customer experience.
When will the merger occur?
The merger date is October 19, 2020.
What does this merger mean to me?
You are likely not aware that there are multiple charters at First Bank & Trust, and may not even notice a merger has occurred. You should have received a letter with our updated privacy notice and an overview of what to expect for Digital Banking downtime and when logging in the first time after the merger.
Will I continue to work with the same staff at the same locations after the merger?
Yes, our staff and locations will remain the same.
Will this change my account(s) and the way I conduct my banking?
You can still conduct your banking in the same manner you do today.
Will my account or routing number change?
The majority of account numbers will stay the same. However, there are just a few exceptions. These select customers will be notified of the change to their account number through a letter in September. Your routing number will not change.
Will I need to get new checks and deposit slips for my account?
No. You can continue to use the checks and deposit slips you already have.
Will my online/mobile banking be impacted?
Digital Banking will be impacted the weekend prior to the merger. Starting Friday evening, October 16, through Monday morning, October 19, there will be some downtime. You will be able to view transactions but will experience limited functionality during that time and will not have access to secure messaging. The first time you log in after the merger, you will be asked to accept our Terms and Conditions, even if you have done so previously. Also, some customers will need to reestablish their two-factor authentication, as well as alerts and other customization. Account names, Bill Pay payees, Mobile Deposit, electronic statements, and many other features will carry over. Please note, the first time you log in after conversion may take longer than normal while all the transaction data is loaded.
Will my loan number change?
The majority of loan numbers will stay the same. However, there are just a few exceptions. These select customers will be notified of the change to their loan number through a letter in September.
Will my interest rate change for my loan?
No. Your interest rate will remain the same.
What should I expect over conversion weekend, October 16-19?
All branch locations will be closed on Saturday, October 17. The Call Center will be open 8 AM –noon on Saturday, October 17 and closed on Sunday, October 18. Digital Banking will have limited access starting Friday evening, October 16 through Monday morning, October 19. Mobile Deposit, Bill Pay, and internal/external transfers will not be available during this timeframe.
Will I be prompted to agree to Digital Banking Terms and Conditions again?
Yes, with the merger there will be minor updates requiring all customers to re-agree to the Terms and Conditions upon first log-in on/after October 19.
Will my online alerts transfer over?
No. Unfortunately, you will need to set up your alert preferences again.
Will my transaction tags and notes transfer over?
No. Unfortunately, you will need to set up your tags and notes again.
Will my switch profiles transfer over?
No. Unfortunately, you will need to set up additional profiles again.
I forgot my username and password. How can I reset these?
To recover your log-in credentials, click “Forgot Username” on the Digital Banking log-in page. You will be asked to enter either your SSN, EIN, or TIN, along with your account number. Upon entering that information, a verification code will be sent via text to your mobile device. Enter the verification code. Upon completion, you will be prompted with your username as well as have the ability to reset your password.
I set up nicknames for my accounts. Will they transfer over?
Yes, all your nicknames will still be there. However, your accounts may appear in a different order than before. It’s easy to reorder them by clicking “Organize Accounts” and dragging them into the order you prefer.
Will current secure messages move over and be available?
No. Unfortunately, we are unable to convert that information.
Will I be able to view my past statements?
Yes, if you are enrolled to receive electronic statements today, you will be able to see them online. Click any account name and then select “Documents.” Next, choose the account statement you want to view. Up to 18 months of statements will be available.
How much account transaction history will be available?
Current transaction history will be available. The first time you log in after conversion may take longer than normal while all the transaction data is loaded.
What will happen to payments I have pending in Bill Pay during the transition?
Scheduled payments will process normally.
How do I use signature-based transactions if my PIN doesn't work with my debit card?
We are not expecting any debit card impacts, but if ever your PIN doesn't work, ask the merchant to run the transaction as a credit or ask how to select credit as an option. A credit transaction is a signature transaction.
Will ATMs be available during conversion weekend?
Yes, ATMs will be available as normal over conversion weekend.
Will I need to order a new debit card?
No. There will be no interruption to your debit card service. Please continue to use your card as usual.
Will I need to update the card information in my Mobile Wallet?
No, your card information will not need to be updated.
Will my direct deposits and automatic payments need to be changed?
No. Direct deposits and automatic payments, set up through ACH or debit card, will not change.
Will my statements arrive on the same date as usual?
Yes. The date you receive your statement, either by mail or Digital Banking, will not change.
Will I be able to access my account at any First Bank & Trust?
Yes. By having an account with First Bank & Trust, you may conduct business at any of our 22 locations in South Dakota and Minnesota. Find out more about our many locations.
What happens to the sweeps I have established between my checking and savings accounts?
All your sweeps will continue to function as they do today; no action is required on your part.
Will my credit card still work?
Yes. Your credit card account will not be impacted until your card naturally expires. At that time, you will receive a replacement/reissue card.
Whom do I contact with questions regarding my credit card?
The Customer Service access will remain the same as it is today:
- Consumer cardholders can call 800-558-3424.
- Commercial cardholders can call 866-552-8855.
- Online access is available at myaccountaccess.com.
Will my payment due date change?
No. Your payment due date will remain the same.
Who will be servicing my loan?
Your loan servicer will not change.
My loan payment is automatically deducted from my deposit account; will that continue?
Yes. You don’t need to take any action, as your automatic payment will transfer with the system conversion.
Can I still use my current loan payment coupons?
Yes.
Will my Spending Habits through Digital Banking transfer over?
Yes, your Spending Habits information will transfer over.
Will this affect my accounting software or budgeting platform (e.g., QuickBooks, Quicken, Mint)?
Yes. Prior to Friday, October 16, we recommend downloading your latest transactions to ensure you have a complete history. On Monday, October 19, you may need to re-establish connection.