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Q.
Online Banking - What financial software or formats can I download to?
A.
You can download transactions from Foundation Bank Online Banking to Quicken (.QFX), QuickBooks (.QBO), Spreadsheet (.CSV) and Word Processing (.TXT).
Q.
Bill Payment - What is Bill Payment?
A.
Foundation Bank Online Banking Bill Payment allows you to easily pay your recurring or one-time only bill payments online. Payments are sent electronically or by check remittance to any business or person within the United States.
Q.
Bill Payment - Can I sign up for Bill Payment and not have Online Banking?
A.
No. Bill Payment works in conjunction with online Banking.
Q.
Bill Payment - How many payees am I able to set up?
A.
There is no limit to the number of payees you can have.
Q.
Bill Payment - When and how are payments processed?
A.
There are two types of payment – ELECTRONIC and CHECK.
ELECTRONIC payments are processed on the date specified for payment
CHECK payments are printed and mailed on the date specified for payment
Allow 2-3 business days from the date specified for payment for electronic payments to reach the Payee and and 4-6 business days for payments made by check to reach the Payee.
Electronic Payees are vendors who accept ACH payments and are already established in our Electronic Payee database.
Check Payees are individuals or businesses not found in our Electronic Payee database and therefore must receive a check through the mail.
Q.
Bill Payment - Can I edit payee information?
A.
For payees receiving Check Payments you may edit any of the payee information. For payees receiving an Electronic payment you can edit the account number or alias only. To edit other information, you will have to delete the payee and set them up as a new payee
Q.
Bill Payment - Can I delete a payment?
A.
You may edit or delete any payment up until midnight the day before the scheduled payment date.
Q.
Bill Payment - What will happen if I do not have enough money in my account?
A.
CHECK payments are handled in the same manner as a check written out of your checkbook against an insufficient balance. ELECTRONIC payments are verified for funds availability during processing. If the funds are available, the account that you selected for the payment will be debited and the information sent on for processing. If the funds are not available, the payment will not be processed. Each day the payment will be resubmitted for you until either you delete the payment or the funds are in the account to make the payment.
Q.
Bill Payment - How long is bill payment history retained?
A.
Bill Payment history for active and deleted payees is retained and viewable for 19 months.
Q.
Cash Management - What is Cash Management?
A.
Foundation Bank Online Banking with Cash Management provides commercial clients with all of the great features of our Online Banking with the added capabilities to initiate wire transfers, originate ACH transactions, and the allowance of checks to clear with a “check-issued file” through Positive Pay. Foundation Bank Online Banking with Cash Management gives you greater self-sufficiency by leveraging the power and convenience of the Internet to provide greater control and service 24 hours a day, 7 days a week, 365 days a year.
Q.
Cash Management - Can more than one user access the accounts for my business with Cash Management?
A.
Yes. Foundation Bank Online Banking with Cash Management provides administrative functionality that allows the designated account administrator to grant access to multiple users with customized access to specific features within your account. There is no limit to the number of users that can access your online account.
Q.
Cash Management - Can wire transfer and ACH capabilities be set-up with dual control?
A.
Yes. The account administrator has the ability to restrict the capabilities of any user. With this ability dual control can be accommodated.
Q.
Cash Management - What is the daily cut-off time for wire transfers?
A.
To be included on the current day’s business, a wire transfer must be initiated by 2:00PM Pacific Time, M-F, excluding weekends and Holidays.
Q.
Cash Management - What is the daily cut-off time for ACH initiations?
A.
You have the ability to initiate ACH batches until 6:00PM Pacific Time, M-F, excluding weekends and Holidays.
For additional information please contact Foundation Bank Client Services at 425-691-5000 and ask for a detailed manual.
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