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FAQs > General FAQs
- Why bank with a community bank?
Because we are a small bank we can deliver service to you that will make you go "WOW". We can help you with financial planning or a savings bond for your grandchild. Whatever it takes - we are available.
- How much money can my spouse and I have deposited in an FDIC insured bank?
By combining joint, individual and trust accounts, you can have $600,000 on deposit that is fully insured. By adding children and grandchildren that number can increase significantly.
- I have IRA money to reinvest because I am retiring or leaving my current job. What should I do?
The Byron Bank has a Passbook Rollover IRA account that you can deposit your money into temporarily until you decide where to invest the money.
- I've lost my check card, what should I do?
Call 1-800-383-8000 anytime 24 hours a day and tell the operator your card
was lost or stolen. They will cancel your card. Also, call Byron Bank ((815) 234-2561)
to cancel the lost card so that we can reissue you a new card.
- Who can get into my safe deposit box if I die?
It's a good idea to have a spouse or family member sign the signature card as a joint owner. They can then have access to your important documents.
- Can I use my check card and ATM card overseas?
Yes, look for the ATM machines with the VISA or CIRRUS logo on them. By the way,
using your check card gives you the best exchange rate for getting cash in foreign
countries.
- What is a dormant account?
Any checking account which has not had any transactions for one year or savings
account with no activity for two years is considered dormant. A bank must turn
accounts over to the state if they are dormant for 5 years. Don't let this happen
to you.
- How do I set up payroll direct deposit?
Simply give your account number to the payroll department and sign a release form. Some employers do not have this available, but we will be very happy to help them set it up.
- Why should I get pre-qualified for a mortgage loan?
By checking with us first you won't be disappointed because you find a "dream home" out of your price range. It's free!
- How long does it take to get a mortgage loan approved?
By using the "Byron Bank Fast Track" if your completed application is received by noon you will have the answer before 5:00 p.m. If it's here by 4:00 p.m., you will have your answer before noon the next business day. No "Waiting & Wondering"!
- I have equity in my home, but quite a lot of credit card debt - What can I do?
The Byron Bank offers both Home Equity and Junior Mortgages to consolidate debt or for major purchases such as cars. Often these can be tax deductible.
- How much lower should the rate be below my current mortgage rate for us to refinance?
Sometimes as little as ¼% difference can save you enough to make refinancing worthwhile. Check with us whenever the rates are falling.
- How do I get a Student Loan?
We have all the information to help you get the loan set up for either yourself or your son or daughter.
- I'm concerned that if I die, my children will have to sell our family business.
There are many ways to keep this from happening if you plan ahead. Call our certified financial planner and set up a free appointment that can save you and your heirs thousands of dollars.
- What's the easiest way to transfer money from my savings to my checking?
By calling the Byron Bank Smart Line at
234-3043 you can easily set this up for
now and in the future.
Sign
up for Internet Banking and check balances and move money by a click of
your mouse.
