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Online checking
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Online CDs

General Questions
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?
By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including an IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category.

Do you offer bank-to-bank transfers?
Not at this time. If you open a checking or money market account, you have both check writing and debit card access to the money in your account. You can also 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 256-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.


Deposits and Withdrawals
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 Century Bank 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.
  • 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.

Online Checking
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 (or no more than $20 total) 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.

Online Money Market
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.

Online Savings
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.

Online CDs
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).

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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