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Central Bank of Georgia FAQs
GENERAL
NEW CUSTOMERS
CUSTOMER SERVICE
DEPOSITS
MONEY MARKET ACCOUNTS
CHECKING ACCOUNTS
SECURITY
GENERAL
INFORMATION
How
can Central Bank of Georgia pay higher rates?
Central Bank of Georgia is an online specialty bank with a very low
overhead cost structure. Online banks cost less to own and operate
than traditional "brick-and-mortar" banks. We provide a small,
strategic set of services that allow us great efficiencies, and
we simply pass the related cost savings to our customers through
higher interest rates on their accounts.
Can
a business apply for a Money Market Account with Central Bank of Georgia?
At this time, Central Bank of Georgia is accepting only applications
from individuals.
This may change at some point in the future, so please check back
from time to time.
Can
a Trust or Estate open an account with Central Bank of Georgia?
Central Bank of Georgia is not accepting applications from Trusts or
Estates; however, the same may be included as beneficiaries for
payment upon death of the individual account "owner."
Do
I have to maintain an Interest Checking Account with my Money
Market Account?
The companion Central Interest Checking Account is provided
to Central Money Market Account (MMA) holders as an easy means
to deposit and transfer funds. Checks are not provided with Central
MMAs. You can close the Interest Checking account at any time
after ninety (90) days without penalty. Therešs a $10 (ten dollar)
fee for closing an account within the first ninety (90) days.
Are
my deposits safe?
Yes. Your deposits are insured by the Federal Deposit Insurance
Corporation (FDIC) up to $100,000 per depositor. You can check
out our FDIC membership by visiting the FDIC Web site http://www.fdic.gov.
Our certificate number is 5687, and is listed as belonging to
our parent company, the Central Bank of Georgia.
What
happens if I lose or forget my ID or PIN?
If you lose or forget your ID, go online and email Central Bank of Georgia at the email address under "Contact Information,"
or you may call Customer Service with proper identification. In
either case, your ID will be securely emailed to you at the email
address on record (not necessarily the address used to request
a new ID or PIN). If you lose or forget your PIN, you must follow
the same procedure and your PIN will be reset to the original
number. Once you log in, you will be required to change your PIN
for security purposes.
NEW
CUSTOMERS
How
do I become a customer?
Mail/Fax
An Application:
If you wish to complete a paper fax or mail transaction,
please call Central Bank of Georgia at 229-937-2507. Note however,
that this will delay your application processing. You should
be comfortable with online access for an account with Central
Bank of Georgia since monthly statements and correspondence
will be online. Please use the online application if possible.
What
is the best way to make my initial deposit?
Your account can only be opened after Central Bank of Georgia has received
your initial deposit and verified the funds. Because of this,
your initial deposit should be made by check or money order. Please
allow up to five business days after receipt for processing. Subsequent
deposits after your account has been opened may be made by check,
certified funds (cashiers check or money order), or by wire transfer.
Please make all checks payable to "Central Bank of Georgia" with endorsement
by you for deposit into your account. Note that no third party
checks will be accepted.
What
about a signature card?
A signature card for your account is mailed separately as
part of your new account member kit. The signature card authorizes
both the Interest Checking and Money Market Accounts. You'll need
to return the signature card to Central Bank of Georgia once you and the
other account holders (if any) have signed.
When
will I receive my checks?
A small supply of checks will be mailed to you once your
application has been approved, your accounts are opened, and your
initial deposit confirmed. This normally takes three to five business
days. Additional checks should be ordered directly from Clarke
American. Click
here for more information.
How
do I log in to my new account?
To access your Central Bank of Georgia account(s), click "Begin Banking"
from the Central Bank of Georgia home page. You will then be asked to enter
your 12-digit User ID. The number will be enclosed with your Starter
Kit sent to you after your account is opened. Please keep a copy
of your ID and password in a safe place.
CUSTOMER
SERVICE
What
are the monthly maintenance fees for Central Interest Checking
and Money Market Accounts?
First, Central Money Market Accounts have no monthly maintenance
fees since checks are not issued for the Money Market Account.
All MMA transactions must be electronic (online) or telephonic,
or transaction fees will be incurred such as wiring fees. For
Central Interest Checking, there is a $2.00 monthly maintenance
fee that includes 15 free checks each month. Each check above
15 incurs a ten-cent per check charge. This $2.00 monthly charge
is waived with deposits and average daily balances of $25,000
or more in either a Central Money Market or companion Interest
Checking Account.
Can
I talk to a person?
Absolutely. You may contact a customer banking associate
during normal banking hours. Please find the office hours and
contact telephone number under "Contact
Us."
What
should I do if I lose my User ID or Password?
If you lose or forget your ID, go online and email Central Bank of Georgia at the email address under "Contact Information,"
or you may call Customer Service with proper identification. In
either case, your ID will be emailed to you at the email address
of record. If you lose or forget your PIN, you must follow the
same procedure and your PIN will be reset. Once you log in, you
will be required to change your PIN for security purposes.
Are
electronic funds transfers available?
After the initial deposit that should be by check or money
order to establish your account, we do offer electronic funds
and wire transfer services to our customers. However, there is
a fee for domestic and international wires. See "Rates and Charges"
under our Truth-in-Savings Disclosure for
more information.
How
do I open additional accounts?
Your initial enrollment authorizes both a Money Market Account
and an Interest Checking Account. If additional accounts are required,
just log into your account with your User ID and Password. There
is an option that reads, "Apply For A New Account." Click on that
icon and complete the brief application. Your request will be
processed right away.
DEPOSITS
How
do I make subsequent deposits after the initial deposit?
Once your account has been opened, you may make deposits
a number of different ways, including personal checks or certified
funds by mail using deposit forms sent to you by Central Bank of Georgia.
Or, you may wish to wire funds or electronically transfer (EFT)
to your account. Note that fees do apply for wire transfers.
What
is the best way to make my deposits?
You can send in deposits to Central Bank of Georgia via regular U.S.
mail by using one of the pre-addressed envelopes we provide in
your Starter Kit. Additional envelopes are available by emailing
customer support. Remember to include a completed deposit slip
with all deposits. Blank deposit slips are also included for your
convenience in your Starter Kit. For the proper mailing address,
see "Contact Information."
What
if I have a check to deposit?
Just drop it in the mail to us, using one of our self-addressed
Business Reply Envelopes provided for your convenience. The check
should be payable to Central Bank of Georgia. Be sure to write on the back
of the check "For Deposit Only" along with your account
number. Checks
that we do not accept are: credit card checks, "counter" or starter
checks, and third-party checks. Third-party checks are those that
are neither payable to nor signed by you (on the front side),
but are endorsed by you on the back -- making you the "third-party."
What
are the wiring instructions for wiring deposits into my account?
Please use the following information when wiring monies
to Central Bank of Georgia via its parent bank, the Central Bank of Georgia:
Wire
to:
The Bankers Bank, ABA 061003415
The account name is: Central Bank of Georgia,
Account 061204612
For Final Credit (FFC) to: (Your name and account number)
For additional information, you're welcome to read our Wire
Transfer Agreement.
Can
I send a deposit to you through an ATM?
No, we currently do not provide this service.
What
if I have cash to deposit?
For our customers' financial security, we discourage cash
deposits traveling through the U.S. postal service. You can always
convert cash to a money order before mailing it to us.
How
soon are my funds available to me after depositing?
Central Bank of Georgia is not unlike a traditional brick-and-mortar
bank in terms of the availability of funds. Our policy is to make
funds from your deposits available to you on the first business
day after the day we receive your deposit, although there are
certain exceptions that are detailed in our Funds Availability
Disclosure. Please review the Funds Availability Disclosure for
more information.
What
kinds of deposits are acceptable?
When sending in personal checks, make them payable to "Central Bank of Georgia" and write "for deposit only" on the back
of each check. Also, please write your Central Bank of Georgia account number
on the back. Please note that the bank is unable to accept the
following types of deposits:
Third-party checks, checks payable to a business account rather
than your personal account, counter or "starter" checks, or credit
card checks. Third-party checks are those that are neither payable
to nor signed by you (on the front side), but are endorsed by
you on the back -- making you the "third-party." Please do not
send cash through the mail.
How
long does it take for my deposit to be posted to my account?
Wired deposits sent electronically via ACH are posted to
accounts on the same day they are submitted; however, it is not
possible for us to determine how long it will take to receive
a deposit sent via the US mail. It should be noted that we post
all deposits received by 2 p.m. on the same business day. In the
case of personal check deposits, the check must clear before all
the funds are available. This may take five or more business days
in many cases; therefore, customers are encouraged to ensure funds
are available to the account prior to initiating any transactions.
Please see the Funds Availability Disclosure for additional information.
MONEY
MARKET ACCOUNTS
Is
my money market account FDIC-insured?
Yes! Depositors' accounts are FDIC-insured up to $100,000.
What
are the monthly maintenance fees for a Central Bank of Georgia Money Market
Account?
Central Bank of Georgiašs Money Market Account has no associated monthly
maintenance fee.
Do
I have to keep a certain balance in order to earn interest on
my Central Money Market Account?
Yes, there is a minimum balance of $2,500 that must be maintained
in order to earn interest on your Central Money Market Account.
Can
I transfer funds online between my money market and checking accounts?
Not only can you execute your own online transfers, it is
a smart way to manage your accounts. Since you are allowed up
to 6 online transfers from your money market account to your checking
account per statement cycle, you can leave your funds in your
money market account, which earns a higher interest rate, until
you're ready to withdraw them from your checking account.
CHECKING
ACCOUNTS
Is
my interest checking account FDIC-insured?
Yes! Depositors' accounts are FDIC-insured up to $100,000.
What
are the monthly maintenance fees for a Central Interest Checking
Account?
There is a $2.00/month fee that includes up to 15 free checks
each month. Checks in excess of 15 each month incur a ten-cent
($0.10) charge each. This fee is waived if the initial deposit
and monthly balances exceed $25,000 in either Central Interest
Checking or Money Market Account.
What
happens to my cancelled checks?
Check safekeeping is a serious issue for Central Bank of Georgia. Original
checks are stored at a secure facility and not returned to customers.
Instead, however, front side images of cancelled checks are included
with your monthly bank statement. You may also view images of
your cancelled checks online. In addition, if required, printed
copies of cancelled checks are available for a fee of $5 each.
Do
I have to keep a certain balance in order to earn interest on
my Central Checking accounts?
No, there is no minimum balance required to earn on your
Central Interest Checking Account.
How
many checks can I write each month without penalty?
For your Central Interest Checking Account, there is no
limit to the number of checks that may be written on the account.
The first 15 are covered by your $2.00 monthly maintenance fee.
Each check over 15 incurs a ten-cent ($0.10) charge.
SECURITY
How
secure is banking on the Internet?
Internet banking is safer than most credit card transactions.
The bank itself resides behind a rigid "firewall" and is protected
from unauthorized entry. In addition, all Central Bank of Georgia transactions
are encrypted, which means the information you send to the bank
is not available on the Internet in a form that can be read. Plus,
you select your own personal password that allows only you to
access your account.
What
is your policy on providing security?
For a detailed statement about security, please read our
Security Statement.
What
browser should I use?
We require the use of a secure browser to access account
information and perform transactions, including Netscape Navigator
and Microsoft Internet Explorer. We suggest you download and install
the most updated version of your browser. If you are on AOL, we
suggest you run Internet Explorer or Netscape (as your default
browser). Secure browsers employ secure sockets layer (SSL) technology
to communicate with servers. This technology encrypts your information
so that no one else can decipher it.
Central Bank of Georgia
P.O.
Box 45
285 South Broad Street
Ellaville , Georgia 31806
Phone: 229-937-2507
 
CopyrightŠ 2003 Central Bank of Georgia,
Member FDIC.
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