Now is the Perfect Time to Make the Move to Online Banking

But we haven’t let the COVID-19 outbreak shake us from our commitment to providing the financial services our customers need, and with the exceptional level of service, they’ve come to expect. That’s why our drive-thrus remain open during regular business hours. It’s also why we’ve continued to offer you 24/7 access to your accounts via ATM, telephone, the Guaranty website, and our mobile application.

The use of digital banking tools has reached all-time highs thanks to shelter in place orders and social distancing recommendations. According to one recent study, more than 70 percent of Americans now regularly make bank transactions on their smartphones. You might be among that 70 percent. If you aren’t, maybe you simply haven’t had the time to register for online access to your accounts. Perhaps you have technical questions or concerns about keeping your personal data secure.

Our caring and collaborative Guaranty bankers are here to help. Read on to learn more about how online banking works, what you can do with it, and why it keeps growing in popularity.

What Are The Advantages Of Banking Online?

The best thing about banking online is that it lets you securely access your accounts at any time from any internet-enabled location.

For example, after enrolling in Guaranty’s own online banking service, you can easily:

• View the status of your checking, savings, and loan accounts, including current balances and transaction history.
• Order a payment stoppage on a check.
• Transfer money between different accounts, including those maintained with other financial institutions.
• Send person-to-person payments.
• Pay bills: utilities (electric, water, gas), mortgages, credit cards, etc.
• Set up recurring payments.
• Sign up to receive text message notifications regarding transactions involving your accounts.
• Reorder paper checks.
• Get the information you need to accept direct deposits (or ACH transfers).
• Apply for a credit card.
• Access electronic versions of your monthly bank statements.
• Export your transaction history into financial management software, such as Quicken or TurboTax.
• Download a mobile app that gives you access to your financial information and lets you deposit checks on the go.
• Track your spending habits.
• Deactivate your debit card in case of loss or theft.

What Can’t I Do Online That I Would In-Person?

You’ll need to visit a location in person to make a withdrawal, have a document notarized, obtain a cashier’s check or money order, or have your coins counted and sorted. Some financial institutions also require that requests for replacement debit cards be made in-person. 

What About Cash? Can I Write Myself A Check Using Online/Mobile Banking?

To deposit cash into your account, you’ll need to visit either a physical location or an ATM.

You cannot write yourself a check using Guaranty’s online or mobile banking services. However, you can electronically transfer money between accounts — for example, from your checking to your savings account (and vice versa).

Are Online Banking Tools Free To Use?

Some financial institutions charge their customers for using their online banking products. There is no additional monthly service fee for using Guaranty Bank & Trust’s remote banking tools.  

How Do I Create An Online Account?

Go to Guaranty's website and look for a link to enroll in their online banking services. Have your personal and banking information, such as your full legal name (or the name under which you originally opened your account) and account number, handy.

Be prepared to read our terms of service. To use the services described, you must indicate that you agree to abide by the terms and conditions specified by the service provider. Such agreements are standard in the software industry.

If you agree to the terms of service (or terms of use), you’ll be asked to create a login ID and password for your account. Take special note of the password requirements. Many financial institutions require strong passwords that include both upper- and lowercase letters as well as numbers and special characters such as “@,” “#,” and “!.”

You may also be asked to create a PIN, select from a list of security verification questions, or sign up for two-factor authentication (2FA), which typically requires the ability to receive temporary passcodes received via text message or email. These measures protect your banking information with an extra level of security. Be sure to write down your PIN, document your answers to your security questions, and/or record the instructions on how to use 2FA and keep them in the same safe place you keep your logins and passwords.

What About My Bank’s Mobile App? Will I Need To Create A Separate Login And Password To Use Those Services?

In the vast majority of cases, you can use the same username and password you’ve already created to access your bank accounts online (i.e., via your bank’s website). Often, you can set an extra layer of security on mobile by opting for biometric authentication. Using this technology, you can verify your identity using a fingerprint sensor (optical or capacitive) or facial recognition software.   

Consult the technical documentation — user manuals, help files, and security FAQ —  provided by your financial institution to determine which login credentials will work on which platforms (web, mobile, etc.).

How Can I Download Guaranty Bank & Trust’s Mobile App?

You can download our app from either the Google Play or Apple App store. To have a direct download link sent to your phone, text “GBTAPP” to 313131.

Can I Open A New Account Online?

It depends. Check with your financial institution about their policies.

If your financial institution does allow you to open a new account electronically, you will need to have the following information handy:

• Your Social Security Number (SSN).
• A valid state driver’s license or ID card.
• A method of funding your new account. If you will be transferring funds from another bank to the new account, you will need your account number and the bank’s ABA routing number to initiate that process.

If you are an existing checking, savings, or loan account customer here at Guaranty Bank & Trust, you are eligible to begin using our remote banking services right away. You can also access our 24-Hour Telephone Banking service at (888) 572-9881. These services are available in both English and Spanish.

How Do I Make A Deposit Using My Phone?

Once you set up an online account with your financial institution, you can begin depositing checks remotely through their mobile application.

First, endorse your check as you normally would. Note that some financial institutions may require that you add a note below your signature indicating that the check is for remote deposit — or “remote deposit capture” (RDC) — only.

Once you have endorsed your check according to your financial institution’s instructions, select the remote deposit option within the app. Enter and confirm the deposit amount and the account to which you’d like your check deposited. Next, use your phone’s camera to take a photograph of both the front and back of the check.

Submit your deposit and make sure the app confirms receipt. This confirmation notice should also provide some indication of when your funds will be available. If you make a mobile app check deposit before 6 p.m. using Guaranty’s app, it can be posted to your account the same day.

As a failsafe, hold on to any checks you deposit using your bank’s mobile app for approximately 30 days. After 30 days, you can destroy these paper originals. Just be sure to do by secure means. Mark all checks “VOID” or “DEPOSITED,” or shred them.

What Happens If My Phone Gets Stolen?

Even if a thief takes your smartphone, they won’t be able to access your financial information through your bank’s mobile app without your login credentials.

If possible, consider activating biometric authentication, either within the app on your phone itself, to provide any extra layer of security.

In case of theft, contact your cellphone carrier and request that they disconnect service to your stolen device. If you cannot reach your carrier, you may be able to deactivate your phone remotely.

Finally, always log out of your mobile banking app after use. If your phone is stolen while the app is open, contact your financial institution immediately for support.

How Does Guaranty Bank & Trust Keep My Information Secure?

Guaranty Bank & Trust utilizes multiple layers of data protection to keep your online financial information secure and ensure the safety of your mobile banking experience. These features include:

• Unique login IDs and passcodes to prevent unauthorized users from accessing your accounts.
• Security questions for enhanced identity verification.
• Certification authority to ensure your digital communication with our servers is secure.
• Encrypted session cookies to enable multi-transaction processing.
• Internal network filtering routers and firewalls.
• Two-factor authentication (2FA) to validate authorized use of your login credentials.

If you have questions want to learn more about the security of our Bank Anywhere products, please give us a call at (888) 572-9881.

How Quickly Are Online Transactions Processed?

It depends on the transaction. For example, bill payments and internal transfers (e.g., between your own checking and savings accounts) are often posted immediately. Additionally, some utility and credit card companies will accept online payments right away, while others require longer processing times. Refunds and transfers from an external account can take several business days to process.

In addition to setting up recurring (e.g., monthly) payments, you can schedule transfers and payments in advance using online banking tools.

All transaction processing (or posting) times should be specified in your financial institution’s policies, terms, and conditions, and/or technical documentation.

Who Can I Call If I Have A Question Or Problem With My Account?

If you have a problem with your online account, you can contact your financial institution directly for help.

You can contact Guaranty’s own Customer Care Center at (888) 572-9881 between the hours of open 8 a.m. and 7 p.m., Monday through Friday.

We also provide extended customer support from 7 p.m. to 9 p.m. Monday through Friday, and on weekends between 9 a.m. and 9 p.m. Call (888) 572-9881 and leave a message with your name, number, and concern. One of our representatives will get back to you as soon as possible.

Can I Still Talk To A Banker And Get Advice If I Start Banking Online?

Absolutely. Enrolling in online services won’t affect your ability to talk to our friendly and expert bankers. To connect with one, call (888) 572-9881 today.