Frequently Asked Questions
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Question Sections: General | Retail Online Banking/Bill Pay | Home Equity Line of Credit | ATM/Visa Debit Card
General Questions top
Q: What are the banking center locations and hours?
A: Please select the following link for information specific to a banking center nearest you: Locate Us
Q: How can I contact customer service?
A: Customer Service phone lines are available Monday through Friday from 7am to 7pm and Saturday 7am -4pm. We can be reached toll free at 1-800-320-7536 or via email at customer.service@salin.com.
Q: Where can I learn more about FDIC Insurance at Salin Bank?
A: Federal Deposit Insurance Corporation
Division of Compliance and Consumer Affairs
550 17th Street, N.W.
Washington, DC 20429-9990 or
Toll Free 1-877-275-3342.
www.fdic.gov
Q: How can I find out information regarding U.S. Savings Bonds?
Q: What is the routing # at Salin Bank?
A: The routing number for Salin Bank is 074014035. You may also find this number on the bottom left-hand side of your checks.
Q: How can I wire money to/from my account?
A: Wire transfers are limited to customers of Salin Bank. If you have questions concerning wire transfers, please contact your local banking center, please click here to locate the banking center nearest you, or by contacting Customer Service at 1-800-320-7536. Please note that Wire transfer requests are not accepted by telephone, fax or emails.
Q: How can I change my address or update my contact information?
A: You may contact Customer Service at 1-800-320-7536 or visiting a banking center near you. No changes will be accepted over the phone without verification.
Q: How can I change my name or add another account holder to an existing account?
A: Please visit a local banking center to change your name or to add a signer to your account. Current identification will be required. Please click here to locate the banking center nearest you.
Q: How can I learn more about career opportunities at Salin Bank?
A: Please click here to access information on Career Opportunities at Salin Bank. By following this link, you can submit your application directly online. We will contact you via email for an interview.
Q: How can I apply for a personal loan?
A: Personal loans may be applied for by contacting your local banking center. Mortgage loans may be applied for via the internet by using the mortgage loan application link. Loan applications can also be taken over the phone by contacting Customer Service at 1-800-320-7536 or visiting a banking center near you.
Q: How can I verify the amount of a direct deposit?
A: The amount of a direct deposit may be verified through Internet Banking, by accessing Salin’s Touchline automated telephone service at 1-800-417-2546, or by contacting Customer Service at 1-800-320-7536.
Q: How can I close my account?
A: An account may be closed by visiting your local banking center, or by sending a letter directly to the following address:
Attn: Deposit Operations
8455 Keystone Crossing Drive, Suite 100
Indianapolis, IN 46240
*Remaining funds will be issued in the form of a cashier’s check and forwarded to the address on file.
*Accounts in an overdrawn status must be brought to a zero balance before they can be closed.
Q: What is the funds availability policy at Salin Bank?
A: For Personal Deposit Accounts, please refer to Your Deposit Account Disclosure obtained at account opening or contact Customer Service at 1-800-417-2546.
Q: How can I check my balance on my account?
A: Account balances may be obtained through Internet Banking, by accessing Salin’s Touchline automated telephone service at 1-800-417-2546, or by contacting Customer Service at 1-800-320-7536.
Q: How can I transfer between accounts?
A: Funds may be transferred between accounts through Internet Banking, by accessing Salin’s Touchline automated telephone service at 1-800-417-2546, or by contacting Customer Service at 1-800-320-7536.
* Customer Service assisted fee may be applied.
Retail Online Banking/Bill Pay Questions top
Q: How do I sign up for Salin.com internet banking?
A: Enrolling for internet banking is easy! From our home page, simply click the enroll link and fill out the required information. Our system will verify your information and you’ll have immediate access to your accounts, including FREE bill pay!
Q: Is the website secure?
A: Salin Bank uses several layers of technology to protect your financial information and transactions. Visit our Education Center to learn more about how we protect you, or to find tips on how to protect yourself from identity theft and online scams.
Q: What is the difference between my ledger balance and available balance?
A: The available balance in your account is what is available to you for immediate withdrawal as of the previous business day. It is sometimes different from your current or ledger balance due to existence of overdraft protection, bill payments may not yet deducted from your current balance, or float from deposits that you have made. Deposit float is created whenever a Salin Bank customer deposits a check drawn from another bank. Banking regulations require Salin Bank to physically present the check to the bank that it is drawn on before it can be made “available” to you for withdrawal.
Q: How can I reset my password?
A: If you’ve forgotten your password, simply click the Forgotten Password link to have your password sent to the email address on file.
Q: What is the cutoff time for transactions done online?
A: Our cutoff time has been extended! You now have until 5:00pm EST to perform same-day bill payment issuances and transfers. All transactions submitted after 5:00pm EST will be processed the next business day.
Q: How far back can I retrieve copies of checks and statements?
A: Check copies may be retrieved for checks cleared in your current and previous statement cycle, or approximately 60 days. Checking and savings account statements are available for review under the Documents menu for 12 months.
Q: Why can’t I view transactions done today?
A: Many customers wonder why they can’t view transactions on the same day they take place. Although Salin features advanced computer-banking technology, processing and validating all transactions takes a little time. So while you can view internet-initiated transactions and memo-posted items on the Current Business Day screen, transactions such as checks and debit card purchases take a little longer to process. We’ll show you the processed transactions as soon as they are available.
Q: Can I place a stop payment online on a check I’ve written?
A: Yes! Simply choose your account from the Account List and click on Stop Payment. Your stop payment will be placed on our system immediately and your account will be charged the stop payment fee.
Q: Can I order checks online?
A: If it is a first time check order, the checks must be ordered in the branch. After your first check order at a branch, all check re-orders can be ordered online. Simply choose the account number from your Account List screen and then click on Check Order. The check order screen will appear in a new window so you don’t have to log back in to internet banking when you are finished.
Q: How can I enroll in bill pay?
A: All Salin customers are automatically enrolled in our FREE bill pay system. Simply log in to salin.com, choose the account to pay from, and click on Payments > New Scheduled Payment to get started paying bills online today!
Q: How can I gain access to my other accounts online?
A: With our new improved internet services, you are now able to view all accounts you are responsible for. This allows you as an owner to:
- conduct transactions/business online and
- monitor account activity
Having this type of access provides assurance and convenience for both you and other account owners.
Q: How can I cancel or modify a bill payment?
A: Only payments that were made on the current processing day can be modified and/or Canceled prior to the days cutoff time of 5:00pm EST. If a payment was submitted for an incorrect amount, simply make a new payment and it will override the previous submission. To cancel a payment, you must delete the payee.
Q: How can I edit or delete a payee?
A: You can edit or delete payees directly from the Payment List in internet banking. Learn more about managing and paying bills online by visiting our Education Center.
Q: Can I request all payments be made electronically?
A: Our third-party bill payment processor adds new electronic payees daily. Some payees, however, are not set up to receive electronic payments. In these cases, a paper draft will be sent on your behalf to the payee.
Q: How long will it take for a company to receive a Bill Payment?
A: Electronic payments will typically take up to 72 hours to post, while paper draft payments may take up to 10 business days to clear.
Home Equity Line of Credit (HELOC) Questions top
Q: What are current home equity rates?
A: Click here to access current HELOC rates. Rates may be subject to change daily.
Q: What is the difference between a HELOC and a fixed 2nd mortgage?
A: A HELOC is a form of revolving credit secured by the equity in your home. It is an open-ended loan that can be used or paid down for the term of the loan, much like a credit card.
A fixed second mortgage is similar to your first mortgage in that it is tied to the value of your home and is structured like an installment loan. It has a fixed monthly payment for a fixed term at a fixed rate. On a fixed second mortgage, all of the funds are disbursed at closing and you cannot draw against the loan again after you have paid it down.
Q: What is the maximum line amount can I qualify for with a HELOC?
A: Depending on your credit qualifications and existing first mortgage balance, you may qualify for up to 100% of the value of your home.
Q: How can I figure a monthly payment?
A: The monthly payment for a HELOC is calculated at 1% of the outstanding balance. Individuals may also qualify for interest-only payments and are subject to approval.
Q: What are the fees and closing costs for a HELOC?
A: Salin Bank pays for all the closing costs associated with the extension of a HELOC. An annual fee of $49 is waived the first year.
Q: What is the minimum/maximum I can borrow?
A: There is a minimum loan amount of $10,000.00. The maximum loan amount may be up to 100% of the value of your home excluding your first mortgage balance. This is subject to approval.
Q: What is a loan to value ratio?
A: The loan-to-value (LTV) ratio is a mathematical calculation that expresses the amount of a loan as a percentage of the total appraised value of the real property. For instance, if a borrower wants $130,000 to purchase a house worth $150,000, the LTV ratio is calculated as follows: $130,000 / $150,000 = 87%.
Q: What is a rate lock?
A: A rate lock is a new feature that now available for all existing HELOC borrowers. With this feature, you now have the capability to lock all or a portion of the total used credit line with a fixed interest rate for a specified term. You may qualify for up to three separate rate locks. This enables you to essentially partition off parts of your variable rate HELOC line with a fixed rate and a fixed term for each rate lock.
Q: What if I want to borrow on a property other than my primary residence?
A: Salin Bank offers a vacation / second home loan program as well. You can still structure your loan like a HELOC or a fixed 2nd mortgage loan.
Q: What is the tax advantage to having a home equity loan?
A: Whether you choose a HELOC or a fixed rate second mortgage, the interest you pay is usually tax deductible. Please consult your tax advisor.
Q: Can I apply online or over the telephone?
A: Loan applications can be taken over the phone, or by visiting your local banking center. You may also apply online at www.salinmortgage.com.
Q: How are appraisals calculated?
A: A real estate appraisal is an unbiased, professional estimate of the fair market value of a particular property at a particular time, as made by a certified real estate appraiser. The appraisal represents the fair market price a potential buyer would pay for the property in a competitive open market.
Q: Are there any penalties associated with my HELOC?
A: If the HELOC is closed within the first three years, a fee of 2% of the outstanding principal balance will be added to the payoff. This fee is waived for Salin Bank refinances.
Q: How quickly can I close on a HELOC?
A: Most people can close a HELOC with us within one week; others as fast as one day.
Q: Where can I find information regarding my billing notice?
A: Please contact Customer Service at 1-800-320-7536 for information on billing notices.
ATM/Visa Debit Card Questions top
Q: How can I order a new card?
A: You may order a new card by visiting your local banking center. Please click here to locate the banking center nearest you.
Q: How long does it take to receive a new card?
A: Please allow 10-14 business days to receive your new card. Your PIN will arrive 2-3 business days following your new card in a separate mailing for security reasons.
Q: How can I change my PIN on my ATM or Debit Card?
A: Once your card has been activated using the original PIN, you may change your PIN using any Salin Bank ATM (Click here for locations) or by contacting this toll free number: 1-800-448-8268 and following the voice response commands.
Q: What do I do if my card expires this month?
A: Replacement cards are automatically issued approximately fifteen days prior to the end of the month in which the card expires.
Q: How many debit cards can I have?
A: Each signer on an account may have a maximum of one debit card.
Q: How do I report my card lost or stolen?
A: You may report your card lost or stolen by contacting Customer Service at 1-800-320-7536 or by contacting your local banking center. PLEASE NOTE: After 7pm Monday through Friday and after 4pm on Saturday you may contact Elan Card Services at 1-800-264-5578.
Q: What is my liability in the event that my card is used fraudulently? What if my card is lost or stolen?
A: If a card compromise is discovered (lost, stolen, or fraudulent transactions) and is reported to the Salin Bank within two days of discovery, there will be no more than $50 liability. If reported more than two days liability may be limited to $500. Fraudulent activity assessed to an account may be disputed by visiting the local banking center or calling Customer Service at 1-800-320-7536. Verbal reports may also be required to be followed up in writing.
Q: Will my card work in another country?
A: Salin Bank’s Smooth Salin Card will be accepted anywhere the VISA logo is displayed. PLEASE NOTE: Salin Bank does currently block Romania, Spain and Ireland from ATM & debit card transactions due to excessive fraudulent activity originating from this country. Salin Bank may choose to block other countries where it may become necessary in the future. If you contact customer service before a trip to the countries we have blocked, we will activate your card to be used in these countries.
Q: What is the charge for using an ATM?
A: Salin Bank does not currently charge a transaction fee for using ATMs not owned by the Bank. However, ATMs not serviced by Salin Bank may charge their own fee.
Q: How soon can I use my debit card after depositing money into my account?
A: Availability of funds may vary. Contact Customer Service at 1-800-320-7536 or your local banking center for more information.
Q: What is my daily purchase limit using Visa Debit Card
A: The limit for using your Visa Debit Card at a Point of Sale merchant or other service accepting VISA is a maximum of $1500*, per calendar day. The limit for using your Visa Debit Card at an ATM for cash withdrawals is a maximum of $320*, per calendar day. *Subject to available funds.
Q: What if I need to make a large purchase using my debit card?
A: You may request a higher Point of Sale limit by contacting your local branch.
Q: Can I deposit money into account using any ATM?
A: Funds can be deposited into any Salin Bank ATM using your ATM or debit card; however, the availability of funds may vary. Please contact Customer Service at 1-800-320-7536 for details.
Q: How long does it take for a debit card transaction to clear?
A: Debit card purchases clear when the merchant requests payment for them. This typically can take 1-3 business days.
Q: What do I do if I have forgotten my PIN for my card?
A: Your request for a PIN reset can be made at your local banking center or by contacting our Customer Service Center at 1-800-320-7536. Please click here to locate the banking center nearest you. PLEASE NOTE: A PIN reset normally takes 24 hours to go into effect.
Q: What is the difference in choosing debit or credit when using my card at a Point of Sale?
A: When choosing a payment by debit, you simply key in your PIN as you would at any ATM. When choosing a payment by credit, the merchant may require your signature. In either case, funds are debited directly from your checking account balance.
Q: Does Salin Bank offer Visa or Master Card debit cards?
A: Salin Bank currently offers Visa Debit Cards.
