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Frequently Asked Questions (FAQ's)

Please select from the following topics to find the answers to your questions.

ONLINE BANKING

Q: What is Online Banking?

A: Online Banking is a real-time online system that allows our customers a secure and convenient way to access their Watertown Savings Bank accounts via the Internet.

Q: How do I enroll in Online Banking?

A: You can easily enroll in our Online Banking by clicking here to get started.  You can also view our handy demo for step-by-step instructions on everything you'll need to do.

Q: What happens if I forget my Watertown Savings Internet Banking Password?

A: You are allowed 3 attempts to enter your password. If unsuccessful after the 3rd attempt, you will be locked out of Watertown Savings Internet Banking. Access may be regained by calling Watertown Savings Bank's during regular business hours at 315-788-7100.

Additionally, you can set up self reset with your internet banking account.  It allows you to reset your internet banking password anytime.  It is located under the options tab under the personal settings heading. 

Q: What happens if I forget or lose my ID or Password?

A: If you lose/forget your ID or Password, you may call us during business hours at 315-788-7100 and with proper verification, your ID and Password will be restored or reset.

Q: How secure is Online Banking?

A: State-of-the-art technology is used to keep your information secure. All sensitive and personal information is encrypted, and access requires passwords that only you know. In addition, your account numbers, social security numbers, and tax ID numbers are never displayed on the Online Banking system. However, if you feel your information has been jeopardized in any way, please contact Watertown Savings Bank immediately. It is also important for you to keep your virus and spyware protection software up to date on your personal computer.

Q: What Banking Transactions Can I Perform with Internet Banking?

A: Internet Banking allows you to manage your accounts and banking transactions more closely and it gives you greater control over balances, bill payments and deposits:

  • View information about your account balances and transactions
  • Transfer funds between your accounts
  • Pay bills to virtually anyone in the United States
  • E-mail Customer Service Representatives for information on products and services
  • Download transactions from Internet Banking into other financial management software such as Microsoft® Money and Quickbooks®

Q: What Do I Need to Start Using Internet Banking from Watertown Savings Bank?

A: All you need to start banking online is a Watertown Savings Bank account, a computer with Internet access and a browser that supports 128-bit encryption to help keep your online banking private. Unlike some PC Banking programs that require specific software to be loaded, Internet Banking can be accessed at any computer with Internet access; there's no special software needed. Once you sign up, you will be able to access Internet Banking anytime from Watertown Savings Bank's homepage www.watertownsavingsbank.com.

Q: What happens if I don't log off of the system?

A: Watertown Savings Bank's Internet Banking has a 10-minute time-out feature. If you are logged in for 10 consecutive minutes without using the program, you will have to log in again to resume banking. Remember, it is critical to log out of each internet banking session by clicking the 'log off' icon located in the upper right corner of your screen. If you only click the 'x' icon you will not be properly logged out and others may have access to your account(s).

Q: How much does Watertown Savings Bank's Internet Banking cost?

A: Watertown Savings Bank's Internet Banking is FREE to all Watertown Savings Bank account customers.

Q: Is It Safe to Enter My Password Online as Part of the Signup and Registration Process?

A: Thanks to the sophistication of 128-bit encryption, sending and receiving information through Online Banking is more reliable with this level of support. Encryption helps keep information private (such as your password or the transactions you perform) between the bank's computer and your internet browser. When you register for Internet Banking, you will be able to check your browser through our Browser Check to insure it supports 128-bit encryption. If it does not, we will supply a link to another website for you to quickly download this level of encryption.

Q: When viewing my current transactions, why do I see electronic transactions and Watertown Savings Online Banking transfers duplicated?

A: You may see the electronic transactions, which include Watertown Savings Internet Banking transfers, twice during our "end of day processing". End of day processing is required for your transactions to be updated. This process begins each banking evening and lasts several hours. 

Q: How can I tell when a transfer has posted to my account?

A: If you approve a funds transfer or loan payment, a "Confirmation Number" will be displayed. You may use this number if you need to refer to the transfer at a later time. The Confirmation Number will also be listed on your monthly account statement. If you make a funds transfer or loan payment using online banking before 5:00 p.m. on a business day that we are open, we will consider that day to be the day of your funds transfer or loan payment. However, if you make a funds transfer or loan payment using our online banking system after 5:00 p.m. or on a day we are not open, we will consider that the funds transfer or loan payment was made on the next business day that we are open.

Q: Can I transfer money from one account to another?

A: Yes, you can transfer money between your Watertown Savings Bank Checking, Money Market, or Savings accounts. You may also make payments on your Watertown Savings Bank loans from your Checking, Money Market, or Savings accounts.

Q: Can I transfer money between my personal and business accounts?

A: Funds transfers and loan payments may only be performed between accounts with the same primary taxpayer identification number or social security number.

Q: How do I add an account(s) to an existing online ID?

1. Login to your Online Banking Account. 

2. From the Main page, click 'Contact'. 

3. In the 'Contact' screen, click 'Add Message'. This will open a secure email message window. 

4. In the subject line, type 'Add Account', and in the main message box, list the account number(s) that you want to add and what you want the account(s) to be titled Online. For example 1234567890-Main Checking. When finished, click 'Submit'. We will review your request, making sure that the information you supplied is correct and that you are authorized to access the account(s). Once verified, the account(s) will be added to your existing Online ID. You will not receive any notification that this change has been made, the additional account(s) will simply be listed the next time you log on. This request will usually be completed within one business day.

Q What browsers can I use with Internet Banking?

A Visit http://info.netteller.com/go/supported-browsers to view compatible browsers.

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ONLINE BILL PAY

Q: What is bill pay?

A: Bill Pay is the process in which you can pay your monthly bills online. You can pay any business or person, even if they don't accept electronic payments. All you need is the payee's name and mailing address.

Q What are the fees associated with Online Bill Payment?

A: It's Free for both personal accounts and businesses.

Q: How does the bill pay service work?

A: Your payments are either electronically transferred from your Watertown Savings Bank checking account through the Automated Clearing House (ACH) network or checks are written from your account and then mailed to the payee. Many organizations are not setup to receive payments through the ACH network, and therefore, payments will be made by check.

Q: When should I setup my payments to make sure they are paid on time?

A: We recommend you select a payment date for electronic payments at least three (3)-business days before the payee's payment due date to ensure the payment is received on time. For payments being made by check, you should establish the payment date at least ten (10)-business days prior to the payment due date. All check payments are processed and mailed out of Houston, Texas, so please be sure to allow extra processing time.

Q: Can I have multiple payments to the same payee on the same day?

A: You can make multiple payments to the same payee.

Q: When I pay bills through the bill pay system, should I enter them in my paper check register?

A: Yes, that way you will be able to properly reconcile your checkbook with your Watertown Savings Bank statement each month.

Q: Is it possible for me to download my information to financial management software?

A: Yes, we support downloads in the following formats:

  • Open Financial Exchange (.OFX for Microsoft Money®)
  • Spreadsheet (.CSV)
  • Word Processing (.TXT)
  • Quickbooks (Most  Recent 2 Versions)

Q: Whom can I pay through Online Bill Payment?

A: You can pay anyone in the United States, from the next door neighbor, to the utility company, and even a child in college across the country. Once you have set up the vendor/merchant, you can look at the "View Payees List" screen and the payee type will tell you if it is an electronic payment or check.

Q: When will the money be taken out of my account?

A:  Electronic payments are deducted from your account on the payment date. Payments made by check will be deducted from your account when the draft reaches our bank, the same as if you had written the check yourself.

Q: How late in the day can I enter, edit, or delete a payment?

A: Bill Payments are processed at 1:00 pm and 3:00 am on the scheduled payment date. Payments entered after 1:00 pm will be processed the following day.

Q: What happens if I have a scheduled payment that falls over a weekend of holiday?

A: Scheduled payments that fall over a weekend will be processed on Friday at 1:00 pm. Any new payments that are scheduled over the weekend, for the current weekend, will be processed on Monday. Holiday processing is done the day before the holiday.

Q: Can I use Online Bill Payment if I live outside the United States?

A: Yes, as long as you have a bank account in the United States. However, you cannot pay bills to payees located outside the United States.

Q: How long is history retained in the "View Payment History" section?

A: Payment History records are kept indefinitely.

Q: Can I use Internet Banking to Pay My Existing Watertown Savings Bank Loans, Line of Credit and Mortgage Payments?

A: Absolutely, and with Internet Banking, you can get your Watertown Savings Bank payments paid faster! Simply transfer funds from one of your Watertown Savings Bank accounts (checking, savings, etc.) to the account you wish to pay. You don't even need to utilize the Bill Payment function to pay Watertown Savings Bank bills. Transferring funds will get your Watertown Savings Bank loans and lines paid faster!

Q: Can I Set Up Recurring Payments through Bill Payment?

A: Sure! You can set up payments to occur on any date or timeframe you specify: weekly, monthly, quarterly, twice a month, twice a year, the choice is yours! Simply click on "Pay Bills" to set up your recurring payments. Your payments will be sent automatically within one business day and at the frequency you choose.

Q: What Proof Do I Receive for Bill Payments Made Through Internet Banking?

A: Once your online bill payments or transfers have been confirmed, a reference number will be provided as verification that your payment has been accepted. You can refer to the number by clicking on the Process Date of a specific payment in the Payment History. If you have any questions or problems, contact us at (315)788-7100 during regular business hours.

Q: What if I Make a Payment to the Wrong Payee? Can I Cancel or Stop the Payment?

A: If you scheduled a payment to be processed immediately, you may not be able to stop the payment. Any other scheduled or recurring payments may be canceled if done within one business day before the process date. For additional information contact us during regular business hours at (315)788-7100.

Q: How Will I Know if My Payees Received Payments Through Bill Payment?

A: You are provided a reference number for each scheduled payment you confirm. The reference number is your proof that the payment will be processed. To verify that your payee credited your account, simply review your next bill from them to verify that the payment was received.

Q: How many payees may I have set up?

A: There is no limit to the amount of payees you can set up through the system.

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ONLINE SECURITY

Q: What is Multi-Factor Authentication?

A: Multi-Factor Authentication combines the use of the existing user name and password with an additional means of identification. You will be required to select an image that will be associated with your online banking account for future online activity. This image will be displayed anytime you log into your online banking account to provide authentication that you are on Watertown Savings Bank's internet banking site.

Q: How does it work?

A: When you enroll, you will select an image known only to you. Whenever you log onto your internet banking account, the system will display the image you selected so that you can feel confident that you are accessing Watertown Savings Bank's website and not an imposter site.

Watertown Savings Bank will also continue to utilize behavior and device tracking methods to protect your online banking account. Variances to normal internet banking behavior may result in being prompted with the challenge/response questions you have previously set up.

Q: Can I change my picture?

A: You can change your picture by selecting a new one under the options tab inside your internet banking account.

Q: How do I know if my browser utilizes 128-bit encryption?

A: You will need to check your security preferences within your browser software. Each browser is different. For Internet Explorer, click on Help and select About Internet Explorer to determine your encryption level or cipher strength. Otherwise, you must be on a secured site to check the encryption. The settings are typically found under the File, Preference option on your toolbar.

Q: Do I need to have "Cookies" enabled to use Internet Banking?

A: Yes, your browser must accept "Cookies" to utilize this service.

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MOBILE BANKING

Q: What is Mobile Banking?

A: Mobile Banking allows Personal and Business customers to view account balances and transaction history, transfer funds, receive balance alerts and pay bills from certain supported cell phones and mobile devices.  You may incur data (internet) or text message charges from your cellular/wireless provider.

Q: How do I enroll in Mobile Banking?

A: You must be a Watertown Savings Bank Online Banking customer with a valid User ID and Password. You must also have a mobile device that is web-enabled and whose network allows secure SSL traffic.

Q: What are the restrictions on the type of mobile devices that can be used to access accounts? 

A: WSB Mobile Banking works with any web-enabled mobile device whose network allows secure SSL traffic on both the Apple and Android platform.

Q: What functions can I perform from my mobile device?

A: With Mobile Banking from WSB, you can:

  • View Transaction History
  • View Account Balances
  • Transfer Funds Between Accounts
  • Pay Bills
  • View Alerts
  • Deposit Checks To Your Account

Q: Is there a fee for Mobile Banking?

A: No. Watertown Savings Bank does not charge for the use of Mobile Banking. You could incur fees from your mobile service provider related to the use of mobile banking based on your specific calling plan.

Q: Should I disable the auto-complete feature on my phone?

A: We recommend that you disable the auto-complete feature on your phone or mobile device. Please refer to your particular device’s user guide for additional information.

Q: Can I search for a specific transaction on Mobile Banking?

A: Currently, there is no search feature available.

Q: How do I setup alerts on my mobile device?

A: Device alerts must be setup under your Online Banking Account. Select the Options tab and then the Alerts tab.

Q: How do I know if my transfer or bill payment was entered successfully?

A: If you have selected to receive text alerts, each time you make a transfer or bill payment, a confirmation Text Message is sent to your mobile device. If you do not receive a confirmation text message, double check to make sure the transaction went through via your Online Banking.

Q: What if I no longer want to be a mobile user?

A: Log in to your WSB Online Banking account > 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 Online 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 Text Message (if you have opted into this service at enrollment) 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 transactions that did not process.

Q: What do I need to do if I get a new phone?

A: If you simply get a new phone but keep the same phone number and provider, no changes on your part are necessary. If you switch providers and/or phone numbers, log in to your Online Banking account and update your information on the Options > Mobile Settings page. You will not receive 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 no 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 text messages (if you have opted into this service at enrollment) will be sent to the phone number entered when enrolling for mobile banking, not necessarily the device from which you perform a transaction.

Q: How do I delete a Bill Payment that I set up through my mobile device?

A: You must log in to your Online 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 that you may experience trouble accessing the mobile version of internet banking on your phone. To use the mobile version, your phone needs to meet the following minimum requirements:

  • Your mobile device must be web enabled.
  • Your mobile network must allow secure SSL traffic. (You may need to contact your mobile provider to determine this.)

Q: Can I enroll for Mobile Text from my mobile device?

A: No. Enrollment for Mobile Text must be completed within your Online Banking account.

Q: How do I get information for a specific account?

A: During the enrollment process you must designate a mobile short name for each enrolled account. This short name must be included in the text request to get account specific information.

Q: How do I un-enroll for Mobile Text?

A: Un-enrollment can be accomplished one of two ways. You can log in to your Online Banking account and un-select the enroll option or you can text STOP to 89549.

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MOBILE BANKING DEPOSITS

Q: What is Mobile Banking Deposits?

A: Mobile Banking Deposits allows you to deposit checks using the camera on your mobile phone or tablet. Using the Watertown Savings Bank Mobile App for the iPhone or Android, you will login to your Mobile Banking, click “MORE” on the bottom right, and then click “DEPOSITS”. You will select the account where the deposit should credit, enter the amount of the check and take a picture of the front and back of the check.

Q: How do I apply for Mobile Banking Deposits?

A: Consumer Customer - All existing Online Banking Consumer Customers will have this service available to them. If you are not an Online Banking Customer and would like to apply, you may visit any one of our Branch Offices or enroll online. Business Customers – All Business Customers must visit one of our Branch Offices to apply for the Mobile Banking Deposit Service.

Q: How do I access Mobile Banking Deposits?

A: When logged into mobile banking, click “MORE” on the bottom right, and then click “DEPOSITS” for the Apple App. The Android app will have it at the bottom of the main screen.

Q: How many deposits can I make in a day and how much can I deposit?

A: Consumer Customers – Your daily deposit limit is $1,000.00 and up to 3 items per day. Monthly deposit limit is $5,000.00 and up to 10 items per month.

Business Customers must visit one of our Branch Offices to apply for the Mobile Banking Deposit Service. The limits are as follows:

  • Plan 1: Free – Daily deposit limit is $2,000.00 and up to 5 items per day. Monthly deposit limit is $5,000.00 and up to 25 items per month.
  • Plan 2: $25.00 – Daily deposit limit is $4,000.00 and up to 10 items per day. Monthly Deposit limit is $10,000.00 and up to 50 items per month.
  • Plan 3: $37.50 – Daily deposit limit is $6,000.00 and up to 15 items per day. Monthly Deposit limit is $15,000.00 and up to 75 items per month.
  • Plan 4: $50.00 – Daily deposit limit is $8,000.00 and up to 20 items per day. Monthly Deposit limit is $20,000.00 and up to 100 items per month.

Q: Can I increase the amount that I am allowed to deposit in a day/month?

A: Yes, please visit any one of our Branch Offices to apply for an increase in your daily/monthly limit. Once your application has been reviewed we will contact you and inform you if your limit increase has been approved.

Q: How long do I need to keep the original check for?

A: You must securely store the original Check for 14 days after your deposit and make the original Check accessible to us at our request. Promptly after the 14 day retention period expires, you must destroy the original Check by first marking it “VOID” and then destroying it by cross-cut shredding or another commercially acceptable means of destruction.

Q: How do I endorse the check?

A: Each check should be endorsed as follows “For Mobile Deposit Only, Watertown Savings Bank account # ____________, and the Payees Signature(s)”. Endorsements must be made on the back of the share draft or check within 1 ½ inches from the top edge. For a check payable to you and any joint owner(s) of your bank account, the check must be endorsed by all such payees. For a check payable to you or your joint owner, either of you can endorse the check. Please Note: If the check is payable to you and any non-joint owner, you may not deposit the check into your Bank account using this service.

Q: When will the deposit be made to my account?

A: Mobile Deposits will be reflected in accounts at approximately 8:30 am, 12:30 pm and 4:30 pm on business days.  Based on the time of your deposit, it will be made available to you in the next sequential time frame listed above.  Deposits made on non-business days will be available on the next business day at approximately 8:30 am.

Q: Can I deposit a check drawn off from a Foreign Financial Institution?

A: Checks drawn off from a Foreign Financial Institution with a Foreign Routing Number will not be accepted for deposit. These checks must be deposited at one of our Branch Offices.

Q: What if I make a mistake when making my deposit?

A: If you make a mistake entering the amount of the deposit, you will receive an email informing you of the adjustment. If you do not receive an email and your account is credited for the incorrect amount, please contact us at 315-788-7100 or write us at 111 Clinton St., Watertown, NY 13601, immediately. We reserve the right to reject any item transmitted through this service, at our discretion, without liability to you. Any items rejected may not be re-deposited through Mobile Banking, you may present the item to one of our Branch Offices for review and deposit.

Q: What accounts can I deposit into?

A: We have selected certain accounts to be available to deposit into. If these are not the correct accounts or you would like additional accounts added please visit any Branch Office.

Q: Do I need to use a deposit slip to make a deposit through Mobile Deposit?

A: No, we will use what is called a substitute (or electronic) deposit slip to post the deposit to your account. You will only need to take a picture of the front and back of the check being deposited.

Q: Can I deposit my check into more than one account?

A: No, you can only deposit your check into one account. The next business day you can log into your Mobile Banking and transfer funds.

Q: Will I receive a text message that my deposit was made?

A: When you complete a deposit from your mobile device you will receive a text Message as a confirmation (If you opted into the text messaging service when you set up your Mobile Banking).

Q: How do I get set up to receive text message alerts?

A: You must log into your Online Banking, click the OPTIONS tab, click the MOBILE SETTINGS tab and enter the appropriate information.

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DEPOSIT ACCOUNT INFORMATION

Q:  Where do I find the routing number for the Bank and my account number?

FAQ Check Picture

Q: What information do I need to either send or receive a wire transfer?

A:  We offer a variety of wire transfer services. You can select the wire transfer form that fits your needs by clicking here.

Q: What is the difference between a Wire Transfer and a Bank to Bank Transfer?

A:  A Wire Transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world. Wire transfers allow for individualized transfer of funds from single individuals or entities to other individuals or entities, while still maintaining efficiencies of fast and secure movement of funds. Wires most likely provide the quickest availability of funds. The fee for outgoing domestic wire transfers is $20.00 and the fee for international wire transfers is $30.00. Most receiving banks apply fees to incoming wires. International wire transfers may have additional fees from a correspondent bank for conversion of funds. A Bank to Bank Transfer is a transfer setup through online banking between your personal account at Watertown Savings Bank and your personal account at another financial institution. This type of transfer is not available for business customers. The transfer is processed through the ACH network and typically takes less than 3 days. There is a $3.00 fee for outgoing transfers and incoming transfers are free. Bank to bank transfers are not available for international bank accounts.

Q: How do I sign up for Direct Deposit?

A:  To sign up for direct deposit of Social Security you may either contact the Social Security Administration office or feel free to visit any one of our locations and we would be happy to assist you. To sign up for an employer direct deposit you will need to speak with your employer and provide them with the Banks routing number (221371356) and your account number. Click here to choose and download the Direct Deposit form that fits your needs.

Q  Do you offer accounts where two signatures are required?

A:  We do not offer accounts on which two signatures are required for a check or other withdrawal.  Notwithstanding any provisions to the contrary on any signature card or other agreement you have with us, you agree that if any account purports to require two or more signers on items drawn on the account, such a provision is solely for your internal control purposes and is not binding on us.  If more than one person is authorized to write checks or draw items on your account, you agree that we can honor checks signed by any authorized signer, even if there are two or more lines on the items for your signature and two signatures are required

Q: Do I have to come into the bank to open an account?

A:  Yes, In order to open an account with Watertown Savings Bank you must be present, and you must provide your personal identifying information, such as, physical address, date of birth, social security or EIN number, and contact information prior to the account being opened.

Q: Do I have to come into the bank to change the title on my account?

A:  Yes, changing the title on the account requires documents to be signed by an individual that is currently on the account as well as anyone that may be added to the account.

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BANK TO BANK TRANSFERS

Q: What is a Bank to Bank Transfer?

A:  Bank to Bank Transfer allows you to transfer funds between eligible Watertown Savings Bank accounts and your accounts at other financial institutions through online banking.

Q: How long does it take?

A:  Once your ownership of the external accounts has been established, transfers typically take less than 3 days.

Q  What is the maximum I can transfer?

A:  There is a $25,000 limit for incoming transfers per business day and a $4,000 limit for outgoing transfers per business day regardless of the number of accounts you are using.

Q: What is the cost to transfer funds?

A:  Transfers to your Watertown Savings Bank accounts from another financial institution are free. A $3.00 fee will be assessed for each transfer you make from your Watertown Savings Bank account to your accounts at another financial institution.

Q: Are there limitations on the accounts you can use for transfers?

A:  In order for you to use your accounts at other financial institutions, Watertown Savings Bank must verify you are authorized on the account.

Q: What is the difference between a Bank to Bank Transfer and a Wire Transfer?

A:  A Bank to Bank Transfer is a transfer setup through online banking between your personal account at Watertown Savings Bank and your personal account at another financial institution. This type of transfer is not available for business customers. The transfer is processed through the ACH network and typically takes less than 3 days. There is a $3.00 fee for outgoing transfers and incoming transfers are free. Bank to bank transfers are not available for international bank accounts. A Wire Transfer is an electronic transfer of funds across a network administered by hundreds of banks around the world. Wire transfers allow for individualized transfer of funds from single individuals or entities to other individuals or entities, while still maintaining efficiencies of fast and secure movement of funds. Wires most likely provide the quickest availability of funds. The fee for outgoing domestic wire transfers is $20.00 and the fee for international wire transfers is $30.00. Most receiving banks apply fees to incoming wires. International wire transfers may have additional fees from a correspondent bank for conversion of funds.

Q: How does Watertown Savings Bank verify my account?

A:  In order for you to use the account at the other financial institution, Watertown Savings Bank must verify that you are authorized on the account. This will be acomplished by crediting your external account with a random deposit amount with one or two business days. Once you see the credit on the external account, log back into Internet Banking, go to enrolled accounts and key in the amount of the credit without decimal points or dollar signs. For example if 10 cents is credited to your external account, you will enter 10 in the verification field. You will have 7 days to complete this process. .

Q: Can I set up recurring external transfers?

A:  Yes, you can schedule one-time and recurring external transfers.

Q  Is there a limit to the number of external accounts I can have set up?

A:  You are limited to 2 accounts from other financial institutions.

Q: Will there be a hold on my incoming funds?

A:  Yes, funds will not be available for 2 business days after the day of the transfer. This typically will make your funds available to you in 3 business days.

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