Frequently Asked Questions | Deposit Accounts
When will my Bank of St. Elizabeth account convert to a Mid America Bank account?
Your account will automatically convert to Mid America Bank beginning of business Tuesday, October 11th.
How will my Checking and Savings Accounts change?
Details regarding account changes may be found in the ‘Personal Product Information’ and ‘Business Product Information’ sections of the Customer Conversion Guide as well as the Important Account Information booklet which accompanied the guide.
Will the interest rate I am earning on my Certificate of Deposit change?
No, your certificate of deposit account’s current interest rate is guaranteed to maturity.
What will happen to my Bank of St. Elizabeth bank statements?
We suggest printing/archiving your Bank of St. Elizabeth Statements, check copies, etc. for your records. You will be able to view 18 months of eStatements in Mid America Bank’s Online & Mobile Banking platform. However, those statements will likely not be available for viewing in Mid America Bank’s Online & Mobile Banking until late 2022 or early 2023.
Will I continue to receive a statement with my deposit account?
Yes. How you will receive your statement (paper or eStatement) will depend on account type. A paper statement fee may apply. Statements can also be viewed in Online & Mobile Banking. Upon logging in to Mid America Bank’s Online or Mobile Banking platform for the first time (see the ‘Online & Mobile Banking’ sections of the Customer Conversion Guide for more information on this) you will be prompted to re-enroll in eStatements and accept the Terms & Conditions. If you do not have Online & Mobile Banking and wish to enroll in eStatements, contact a Mid America Bank associate.
Can I receive alerts on my account?
Yes, activate and set up alerts through Online or Mobile Banking.
Will automatic transfers between my deposit accounts continue?
Yes.
I currently have my Bank of St. Elizabeth account set up for direct deposit, will I need to update this?
Yes, on or after October 11th, please update the routing number with your employer and any other direct deposits to Mid America Bank’s routing number, 081514748.
Will my stop payments remain in effect?
Yes.
Will processing and cut-off times change on my account?
Yes. Mid America Bank offers extended processing times therefore transactions will be processed same day.
What is Mid America Bank’s wire processing schedule?
Domestic wires may be processed from 8:00am to 4:00pm, Monday-Friday on normal banking business days. International wires may be processed from 8:00am to 2:30pm, Monday-Friday on normal business banking days.
I have accounts at both Bank of St. Elizabeth and Mid America Bank. Will my deposit accounts continue to be FDIC-insured?
Yes, please be assured that your deposits will continue to be FDIC-insured up to the maximum allowed by law. If you currently have deposits at both banks and these deposits total more than the FDIC insurance limits because of this change, your deposit at each bank will continue to be insured separately for a period of six (6) months after the transition. Your Certificates of Deposits will continue to be separately insured until the earliest maturity date after the end of the six-month period. After the transition period, your funds at the combined banks will be added together for the purpose of determining the amount of your FDIC coverage. If you have more than $250,000 in combined deposits, we will be pleased to discuss different ways that your accounts may be insured at Mid America Bank. If you would like information about coverage, please visit your local branch.