We’re here for you A guide to
We hope you have found this guide helpful. Managing your
In the future, anytime you have a question about
your account, visit a Webster branch or call us. You
can rely on Webster for whatever assistance you
need, delivered with our We Find a Way spirit.
7 days a week, 7 a.m. – 10 p.m.
and tips to
A Guide to Managing Your Checking Account is not a
substitute for your Deposit Account Disclosure or Fee
Schedule. Information provided in this guide is accurate
as of August 15, 2010 and is subject to change at any
time without notice. To be certain you have the most
up-to-date information, we encourage you to contact us.
Webster Bank, N.A.
FN48031 7/10 The Webster Symbol, Webster Bank and Webster We Find a Way
are registered in the U.S. Patent and Trademark Office.
About Webster Bank Table of Contents
Webster Bank was founded in Connecticut Taking care of your
during the Great Depression, more than 75 checking account 4
years ago, to help people realize their dreams of
home ownership. Today, we are still committed to
helping our customers realize their dreams and
achieve their financial goals.
Knowing how your
account works 5
Webster is among the top 50 banks in the United o How your transactions
States. With $17.8 billion in assets, Webster are processed 6-7
provides business and consumer banking,
mortgage, insurance, financial planning, trust and
investment services through 181 banking offices, o When your deposits
492 ATMs, telephone banking and the internet. become available 8-9
Avoiding overdrafts 11-12
Using Webster services
to simplify banking 13
1-800-325-2424 • WebsterBank.com
Making banking easier for you Taking care of your checking account Knowing how your account works
At Webster, opening your checking account is You can stay in control of your finances and avoid This section describes how money
just the beginning. We provide ways to make unnecessary fees by following these suggestions:
banking convenient and worry-free, too. You can moves in and out of your account and
1. Record your transactions right away.
use this guide to help take charge of your account. Write all transactions in your check register or when deposited funds are made available
It explains how to: its electronic equivalent. Deduct the amounts of
o Keep track of your checking account checks, ATM withdrawals, Debit Card for you to use. Understanding the impact
balances and transactions. purchases and automatic bill payments.
on your account may help you plan your
o Manage the timing of your deposits and 2. Review your transaction history.
payments. To be sure you have recorded all transactions deposits and withdrawals so you can avoid
o Avoid overdraft fees in your check register, go to WebsterBank.com
and view your pending and posted transaction late payments or overdraft fees.
o Take advantage of services that simplify history once a day, a week, monthly – whatever
banking. works for you.
Using the information and tips in this guide may 3. Check your account balance.
also help you eliminate the extra expense and in- Be sure that the funds in your account are
convenience caused by overdrawing your account. available before you write a check, make a
Avoiding unnecessary fees keeps more of the withdrawal or purchase. If your balance won’t
money in your account working for you. cover it, you may choose to delay it or make a
Webster is providing this guide as part of our “We deposit. You can verify your balance on
Find a Way” approach to help you get the most out WebsterBank.com.
of your banking experience. 4. Compare your statement to your checkbook.
Compare all transactions listed on your
statement with those recorded in your check
register. Contact us immediately if you notice
5. Balance your checkbook.
Follow the steps shown on the back of printed
Your account offers FREE online
banking. It’s easy to monitor balances,
track account activity, pay bills and more.
For details, go to WebsterBank.com.
3 4 5
1-800-325-2424 • WebsterBank.com 1-800-325-2424 • WebsterBank.com
How your transactions are processed
Order of Posting Transactions Each Banking Day. Transactions are posted in the following order. Within each cat-
egory, transactions are posted in dollar amount order, from highest to lowest. This means that there is less risk that
an important payment, such as your mortgage payment, will be returned unpaid. It also means that your balance will
be depleted by large transactions first. If you have insufficient available funds to cover all the transactions that are
processed in any day, overdraft/insufficient funds fees will be incurred, and there may be more fees than if we posted
items in a different order.
Category Transaction Type
2 Cash withdrawals and transfer debits
Debit Card transactions using your PIN
Debit Card transactions not using your PIN, for example, using your signature
Checks you write that are converted by the payee to electronic transactions
Checks you write that are not converted by the payee to electronic transactions
4 Online bill payments sent electronically
Online bill payments sent by check
Pre-authorized withdrawals (ACH) such as gym memberships, car payments, etc.
5 Bank fees
Paper checks, online bill payments by check, some ACH items, and fees are posted at night. Other transactions may show as “pending” transactions on WebsterOnline and
ATM mini-statements and are reflected in your available balance during the day. Online bill payments paid by check will post on the day the check clears, not on the day you
Within each of these five categories, priority is throughout the day. These transactions are shown as
given to higher dollar amount payments such as “pending transactions” on WebsterOnline.
your mortgage, insurance or auto loan. When you Available balance is the amount of money available for
request your account balance from a Webster immediate withdrawal. Any funds that are subject to
associate, view it on WebsterOnline or on ATM holds are not included in this balance until the hold is
mini-statements, we provide two balances: removed.
Current balance is the amount of money in your Your account balance fluctuates throughout the day
account from the prior day’s closing balance ad- based on the transactions you make and when your
justed for certain transactions received by Webster deposited funds become available.
1-800-325-2424 • WebsterBank.com
When your deposits become available
Once you make a deposit into your checking account, you’ll want to know when your funds will be available for
withdrawal. The chart below provides an overview of Webster’s policy. For complete details, see Webster’s Deposit
Account Disclosure for Consumer Accounts.
Same Day • Cash
• Wire transfers
• Electronic direct deposits and transfers
The Next Business Day2 • Checks drawn on-us
After the Day of Deposit • Checks drawn on banks located in CT, MA, RI and the NY metro area
• The first $100 of a day’s deposits of checks drawn on banks OUTSIDE the CT, MA, RI
and the NY metro area
• Federal Reserve Bank Checks, Federal Home Loan Bank Checks and
U.S. Postal Money Orders
• U.S. Treasury Checks
• Cashier, certified and teller checks, state and local government checks
(from state in which the branch or ATM is located) deposited using a special deposit ticket1
The Second Business Day • The remaining funds of checks drawn on banks OUTSIDE the CT,
After the Day of Deposit MA, RI and the NY metro area
Special Deposit slips for next-day availability are available upon request. 2
Business day: every day except Saturdays, Sundays and federal holidays.
Other conditions may apply. Please refer to the section of your Deposit Disclosure entitled “Your Ability to Withdraw Funds.”
Additional information about deposits and funds o You deposit checks totaling more than $5,000
availability: on any one day.
ATMs: When you use a Webster ATM to make a o You redeposit a check that has been returned
deposit, the first $100 of a business day’s depos- unpaid.
its will be available to use immediately. Deposits o You have overdrawn your account repeatedly
made after an ATM’s cut-off time are considered to
in the last six months.
be made the next business day.
o There is an emergency, such as failure of
Checks: If a deposited check is returned to
communications or computer equipment.
Webster from the paying bank marked
“insufficient funds,” we will deduct the full If you make your deposit in person, we will notify
amount plus any fees from your account. you if we decide at that time to delay your abil-
ity to withdraw funds and when the funds will be
Holds: Sometimes a hold may be placed on funds
available. However, if your deposit is not made in
you deposit by check, delaying your ability to
person, or if we decide to delay funds availability
withdraw for a longer period, under the following
after you have left the bank office, we will mail you
the notice by the business day after we receive
your deposit. Your funds will generally be made
o We believe a check you deposit will not be paid. available no later than five additional business
days beyond the normal availability schedule.
1-800-325-2424 • WebsterBank.com
Webster Debit Card Overdraft Services for • If you do not wish to opt-in: You don’t need to Webster services that can help avoid overdrafts:
Consumer Accounts do anything. However, please note that we will • Savings Overdraft Protection. This service
• How overdrafts work: At Webster, we may allow not authorize Debit and ATM card purchases links your Webster checking account to your
you to overdraw your account at our discretion, if you have insufficient funds available in your Webster savings account. Funds from your
based on certain factors- such as the length of account. You can always change your decision savings account are transferred automatically
time you’ve had your account with Webster and about opting-in later. Simply let us know to your checking account to cover an overdraft
the balances you’ve maintained. When we allow At Webster, we continue to develop new and better transaction1 for a low fee of $5.00 per transfer.
you to overdraw your account, we may charge an tools to help you track your spending and manage
overdraft fee. If you would like us to consider • Overdraft Line of Credit. Apply for a Webster
your checking account. Here is additional, specific Overdraft Line of Credit. Once the line is estab-
allowing an overdraft for purchases using your
information and services that can help you avoid lished (subject to credit approval) your checking
Debit Card (ATM card or Visa Check Card), you
overdrafts. account transactions are covered up to your
will need to opt in to Webster’s Debit Card
Overdraft Services. (See “How to opt-in below.) available credit line. You pay a percentage of
Please keep in mind that this is not a guarantee Read your monthly statement interest based on the amount covered. Annual
that all overdrafts will be authorized. In addition to balancing your checkbook and fee may apply.
• Debit Card Overdraft Services. At the time understanding how your deposits are processed, • Use Webster Online Banking. WebsterOnline
when you make a Debit Card purchase, a request reading your statement carefully is key to avoiding is a valuable tool that helps you stay up-to-date
for authorization is usually sent to us. When this overdrafts. on your account activity and balance, and
occurs we will immediately reduce your available Webster adds features from time to time that make guard against overdraft. Plus, you can easily
balance by the amount of the authorization. This our statements more useful to you. For example, move money between your accounts with
will help you keep closer track of your balance in addition to the usual record of transactions, immediate transfers between Webster accounts,
available for spending. Please note that the dol- Webster has recently added a new feature that we a one-time transfer or recurring future transfers.
lar amount of the hold may be different from the hope will assist you in understanding your account • Telephone banking. Call 1-800-325-2424 to
actual purchase amount. This is more likely to and avoiding fees. access your account information by phone, or
happen at car rental agencies, restaurants, ho-
Our new feature provides a record of the total for more information on our other services.
tels, gas stations, and other merchants that typi-
cally request an authorization that may be higher overdraft/insufficient funds fees (NSF fees), if any, • Call, Click, or Visit to add any of these
than the purchase amount. When we receive that you have been charged during the current services to your account. We’re always happy
the actual transaction, usually within two days, cycle, as well as for the year-to-date and any fees to help you. Call us at 1-800-325-2424, visit
we will adjust your available balance if needed refunded to you. any of our branches, or go to our website at
based on the amount of the transaction. If we do Seeing these fees each month can help you stay WebsterBank.com
not receive the transaction within (3) business aware of the cost of an overdraft, while assisting A fee of $3 or $5 per transfer will be charged based on account type. Federal
days, we will adjust your available balance as if you in maintaining an accurate checkbook regulations limit the number of transfers from a savings account to a maximum
you had not done the transaction. balance. of six per statement cycle from the following categories: preauthorized transfers,
including overdraft protection; telephone transfers; electronic transactions,
• How to opt-in: including WebsterOnline transactions, Check Card payments to third parties,
Call 866-273-0499 Automated Clearing House (ACH) transactions and wire transfers; and checks.
Click WebsterBank.com/overdraftservices For each transaction above the limits, there will be a fee charged to your account
Visit your local branch on the last day of your statement cycle and your privilege to make transfers may
be suspended or terminated, or the account may be closed.
10 11 12
1-800-325-2424 • WebsterBank.com 1-800-325-2424 • WebsterBank.com
Webster services that simplify you will need to schedule your payment date earlier,
your banking: building in extra days for mail delivery and for the
company to post the payment to your account by the
Webster offers a variety of services designed to help due date.
you make the most of your account.
Statement eDelivery reduces paper clutter and the
Direct Deposit provides safety and faster access to threat of identity theft. Get your statement faster by
your money. Your paycheck, Social Security checks, enrolling in paperless statements through
pension and other payments can be automatically WebsterOnline.
added to your account with funds immediately
available to use. You can get a direct deposit form Telephone Banking allows you to check your
from your employer, at a Webster branch or at balances, monitor your transactions and transfer
WebsterBank.com. funds, 24 hours a day, seven days a week.
Webster Online Banking gives you direct control over A Webster Visa® Check Card is available at no extra
your accounts plus convenient access 24 hours a charge with your checking account, just by asking
day, seven days a week, through WebsterOnline. for it. Accepted at millions of merchant locations
Review your account balances. Track your deposits and ATMs worldwide, a Webster Visa Check Card
and withdrawals. See most items even before they have looks like a credit card, but acts like a check
been posted to your account by viewing “pending because your purchases and cash withdrawals are
transactions.” There is even an “Account Features”
deducted from your checking account. Visa’s Zero
page which explains how to fully set up and take
Liability policy protects you 100% against fraud for
advantage of all the convenient services that are
included with your account. all of your check card transactions that take place
on the Visa system.* When you enroll in free Visa
Webster Online Bill Pay is a convenient way to handle Extras, the more you use your check card, the more
bills instead of writing checks. You set up which
rewards you receive. Go to WebsterBank.com/Extras
payments to have deducted from your account and
or call 1-800-960-8472 for more details about
the schedule, allowing enough time
for processing and delivery before qualifying purchases.**
the payment due dates. You can To learn more about any of these services, go to
also set up alerts to notify you 1-3 WebsterBank.com, stop by a local branch or call
days in advance of any future 1-800-325-2424.
payments to allow you time
* Visa’s Zero Liability policy covers U.S. issued cards only and does not apply to
to check your balance. If ATM transactions, PIN transactions not processed by Visa, or commercial card
companies do not accept transactions. Cardholder must notify issuer promptly of any unauthorized use.
electronic payments, ** Qualifying Purchases: A “Qualifying Purchase” is any signature-based
Webster will accept purchase, Internet purchase, phone or mail order purchase, or automatic bill
your payment and payment made with an enrolled Webster Visa Card, which is processed or sub-
mitted through the Visa U.S.A., Inc. transaction processing system. You must
send the vendor a sign for all in-store purchases you make with an enrolled Webster Visa card
paper check at no in order for such purchases to be deemed qualifying purchases; do not use
charge. In that case, a Personal Identification Number (PIN) when paying for your purchases with
your enrolled Webster Visa Card if you want to earn points for such purchases.
Please see complete details at www.websteronline.com/extras.
1-800-325-2424 • Web- 15