Who is Century Bank Direct?
Century Bank Direct is a division of Century Bank of Kentucky,
Inc., a community bank located in the heart of Central Kentucky
with two traditional banking offices. Rather than invest in expensive “brick
and mortar” branches to achieve our growth goals, we determined
the future of banking would be driven, not by geographic location,
but by technology. We also feel that customer satisfaction in the
future will be measured by how banks save people time and make
them more money.
Who can open an account?
The three basic requirements to open an account with Century
Bank Direct are simple. You must be an individual at least
18 years
of age; you must have a permanent U.S. address we can verify; and
have a valid U.S. Social Security Number (or, Personal Tax Identification
number. You must meet all three requirements and there are no exceptions.
In the case of a joint account, both applicants must meet each
requirement. Please understand that the accounts currently listed
on the Century Bank Direct Web site are for personal use only.
Is
my money safe?
All accounts at Century Bank Direct are insured by the Federal
Deposit Insurance Corporation (FDIC) up to $100,000 per depositor.
Please feel free to confirm our FDIC membership by visiting the
FDIC website, click on the link to Bank Find and type in Century Bank of Kentucky
when prompted for the bank name you are looking for. Our FDIC certificate
number is 35450.
Do you offer bank-to-bank transfers?
Not at this time. We are diligently working with our online banking provider
to offer bank-to-bank transfer in the near future. If you open a checking or
money market account, you have both check writing and debit card access to the
money in your account. Until we are able to implement bank-to-bank transfers,
you can transfer money to Century Bank Direct from another bank by setting your
account with us as a payee with your bank’s bill pay service. If another bank
you deal with offers bank-to-bank transfers, you can draw money from your
Century Bank Direct account using their transfer service. Or, if you request,
we will send you a check.
How secure is banking online with
Century?
Banking online is safer than most credit card transactions. The
bank’s data resides behind a rigid firewall and is protected
from unauthorized entry by a variety of methods. Plus, Century
Bank Direct ensures the secure transfer of information over the
Internet through 128-bit encryption, meaning the information you
send and receive is not available over the Internet in a readable
format. We use filters and firewalls for additional security and,
when you open an account with us, you will choose a unique User
ID and Password that restricts others from access to your accounts.
How
will I receive my statements?
We offer free online statements… e-statements… that
are available for a three month period. They appear just
like a statement you would receive in the mail, plus you have
the option of downloading them to a file on your computer or printing them
for your files–or, if you choose, you can do both.
How do I know when my account
is open?
You will get a confirmation number when you complete the account
opening process and we will assign you an account number. You
will also receive an e-mail from Century Bank Direct detailing
what will occur in the first days after opening your account. At this
time, please make certain the spam filters on your computer do
not block e-mail from centurybankdirect.com. If, for any reason,
we need additional information, we’ll contact you by phone
or e-mail, usually the next business day.
What’s the difference
between interest rate and annual percentage yield (APY)?
The interest rate is the noncompounded rate applied to account
balances. The APY is the percentage of interest earned on an
account annually, based on the interest rate and the frequency
of compounding
for a 365-day period. Interest is calculated daily on Century
Bank Direct accounts and compounded (paid) on a monthly basis.
Do you offer online bill pay with your accounts?
Yes. Simply by opening a Century Bank Direct Online Checking
or Money Market Account, you have access to our FREE online bill
pay service. Of course you have the ability to set up one time or
recurring payments–and it only takes a couple of minutes to add
a company and payment.
How do I make withdrawals and deposits?
Once your account is set up and confirmed by us, you
may make deposits to an Online Checking, Savings or Money Market
account by:
- Setting up Direct Deposit with
your employer or a government agency.
- Transferring money electronically
from another account you may own.
- Sending money from another bank
via wire transfer (send to Bankers Bank of KY, routing number 083901896; beneficiary bank Century Bank of KY, routing number 083908310; for credit to "your account number").
- Sending a
deposit by mail using a deposit envelope supplied by us.
Make your check payable to yourself and, on the back,
write “For
Deposit Only”. Sign your name and write your Century
Bank Direct account number below your name. Mail the check
to Century
Bank Direct, 201 West Woodford Street, Lawrenceburg, KY 40342.
We are currently working with our online banking provider to be able to offer
bank-to-bank funds transfer and hope to have it available in the near future.
Until then, you can transfer money to Century Bank Direct from another bank by
setting your account with us as a payee with your bank’s bill pay service.
If another bank you deal with offers bank-to-bank transfers, you can draw money
from your Century Bank Direct account using their transfer service. Or, if you
request, we will send you a check.
There are several ways you can
withdraw funds from your Century Bank Direct accounts. For Online
Checking and Money Market Accounts,
you can simply write a check from the complimentary supply we
provide when you open your account. Online Checking and Money Market Account customers
can use their VISA© Debit Card at retail terminals
and ATMs around the world. You can request a withdrawal by telephone
at 1-877-444-2259.
Or, you can e-mail us your request at csr@centurybankdirect.com.
Do not give your account number on the e-mail.
How
do I set up Direct Deposits?
Check with your employer to see if they allow direct
deposits and how to set them up. Your employer will need both
your account number
and our routing number: 083908310. If you are receiving a recurring
government check, such as Social Security, contact that office
and provide your account number and our routing number.
Will I receive checks with my Online Checking Account at Century
Bank Direct?
You will receive a complimentary order of 50 duplicate checks
when you open an Online Checking or Money Market Account. Additional
checks may be ordered for a fee via a link with Deluxe on the
Century Bank Direct web site.
Will I receive a debit card with
my Online Checking Account?
Yes. If requested, you will receive a VISA© Debit Card that
can be used at retail merchants worldwide displaying the VISA© logo
and as an ATM card for cash withdrawals.
What ATM networks is Century Bank Direct affiliated with?
Our Online Checking customers have access to the hundreds of
thousands of ATMs worldwide displaying the VISA, Plus, NYCE,
Alliance One,
or Pulse logos. When using another bank’s ATM, you will
generally be assessed an ATM surcharge. With a Century Bank Direct
account, we will automatically reimburse up to five of these ATM surcharges
each month.
Why do you pay interest only on
the first $50,000 of an Online Checking Account?
The Online Checking Account is intended to be used for everyday
transactions such as purchases, paying bills and withdrawing
cash from an ATM. If you are looking for an account to reach
your savings
goals or to “park” larger sums of money, a Century
Bank Direct Online Money Market or Savings Account are better
choices. Or, choose a high yield Certificate of Deposit in maturity
terms as short as five months or as long as twenty months.
Are there any limitations on withdrawals from my Money Market
Account?
Yes. You may only make three free withdrawals from your account
each month. Additional withdrawals will be assessed a fee of
$5.95 per withdrawal. Federal regulations limit the total number
of withdrawals
allowed on money market accounts.
Will I receive checks with my
Online Money Market Account at Century Bank Direct?
You will receive a complimentary order of 50 duplicate
checks when you open an Online Checking Account. Additional checks
may be ordered
for a fee via a link with Deluxe on the Century Bank Direct Web site.
Will I receive checks with my Online Savings Account at Century
Bank Direct?
No. You may withdraw funds from your Online Savings Account two
ways. You can contact us via e-mail or telephone that you would
like to withdraw money from your account and, after verifying
your identity, we will send you a check. Or, if you have an account
at another bank offering account-to-account transfers, you may
use that account to initiate transfers between accounts.
Are there
any limitations on withdrawals from my Online Savings Account?
Yes. You may only make three free withdrawals from your account
each month. Additional withdrawals will be assessed a fee of
$5.95 per withdrawal. Federal regulations limit the total number
of withdrawals
allowed on savings accounts.
Can I receive a monthly interest check with my CD?
Not exactly. We will transfer the monthly interest from your
Certificate of Deposit to another bank account… either
at Century Bank Direct or an account you have at another bank.
Or, you can leave
the interest in the CD and receive a higher annual percentage
yield (APY).
Will I receive an actual certificate
for my Certificate of Deposit?
You will receive a receipt for your CD when you open
your account online. This receipt describes the maturity term
you have chosen,
and includes the interest rate for the initial term and how you
have chosen to receive interest. This initial receipt also states
the CD to be a “renewable account,” and serves as
a receipt for all renewable terms until such time as you close
your Certificate of Deposit.
How do I close my CD when it matures?
To close a CD, you simply login and send a message to a Century
Bank Direct customer service representative requesting your
Certificate of Deposit be closed. You will need to include
the name(s) on
the CD, the original amount and the maturity date. We will
call you
the next business day after receiving your request to verify
how you want the funds remitted.
or...
You may complete a CD Redemption form found on our Century
Bank Direct Web site and we will process it the next business
day. You must complete all the information requested
on the CD Redemption form to assist us in verifying your identity.
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