Online Account Opening FAQ

Transfer money from a different bank: 
This option enables you to fund your Peoples Bank account(s) from another financial institution within the United States. We may contact your other bank to verify that you are the rightful owner of the account. Your funding account:

  • Must have the same ownership as your new Peoples Bank account
  • Must be a joint account if your Peoples Bank account is a joint account
  • Cannot be a credit card or any type of brokerage or investment account

Transfer money from an existing deposit account: 
Move funds from one account to another account within Peoples Bank.

 

Backup withholding is a type of withholding for federal income taxes on certain types of income. It may be mandatory in certain circumstances. Most taxpayers, however, are exempt from backup withholding. U.S. citizens and resident aliens are exempt from backup withholding if:

  • You properly report your name and Social Security number to the payer using Form W-9 and the information matches IRS records
  • You have not been notified by the IRS that you are subject to mandatory backup withholding
Your bank routing number is a nine digit number located at the bottom of a check. If you do not have checks, contact your financial institution for the number. If you do not have your account number, call your financial institution.
 
The security (CVV) code is a security feature of credit and debit card transactions that provides added protection against credit card fraud. The code is located on the back of your debit card. It appears as a separate group of three digits on the right side of the signature strip.
 
If your personal information is already on file with Peoples Bank, you can make changes through online banking to your address, phone number, or email address. Just log into your account and select the "Customer Service" tab. You can also visit any Peoples Bank location. Please note some changes may require you to present documentation at your local branch.
 
If you already have an account with us, we will automatically fill out parts of your application using information you provided when you opened your other account. This could be information from your ATM or debit card, a deposit account (excluding CD accounts), or a loan account.
 
If you'll be the only person who owns this account, select "Individual." If you want to add a co-owner to the account, select "Joint."
 
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Your information is securely stored on your account and customer records when your new account is opened.
 
Your verification code was provided to you during the application process and in a confirmation email. The confirmation email was sent to the email address supplied during enrollment. If you would like assistance with your verification code, please contact customer support at 800.584.8859, available Monday through Friday, 8:00 am to 7:00 pm and Saturday, 9:00 am to 4:00 pm.
 
Disclosures contain important terms and conditions that apply to your new account. Reviewing and accepting disclosures ensures you are informed about how we'll manage your new account.
 
Providing your login information allows us to verify that you own the account you are using to make a deposit into your new account.
You can still use your account at a different bank to make a deposit. Click the link in the Login information section to use test deposits and withdrawals to verify your account ownership.
 
If you choose this option, we will make two test deposits ($.99 or less) and two matching withdrawals to your external account. You will need to access that account to see the amounts and then return to our website to enter the amounts and verify account ownership. It typically takes 2 or 3 days for these transactions to appear in your external account.
Note: If you select test deposits and withdrawals, you cannot change your verification method.
 
Your account at a different bank requires that you answer these questions to ensure that you own the account. This additional layer of security protects you against fraudulent attempts to withdraw money.
 
You can still use your account at a different bank to make a deposit. Click the link in the Security questions section to use test deposits and withdrawals to verify your account ownership.
 
The IRS tax code has specifically defined the term ''United States person'' as meaning any of the following:
  • A citizen or resident of the United States
  • A domestic partnership
  • A domestic corporation
  • Any estate other than a foreign estate
  • Any trust if:
    • A court within the United States is able to exercise primary supervision over the administration of the trust, and
    • One or more United States persons have the authority to control all substantial decisions of the trust
  • Any other person that is not a foreign person.
The Foreign Account Tax Compliance Act (FATCA) is a United States federal law requiring United States persons (including those living outside the U.S.) to have yearly reported themselves and their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FINCEN), and requires all non-US (Foreign) Financial Institutions (FFI's) to search their records for suspected US persons for reporting their assets and identities to the US Treasury.