Bank to Bank Transfer allows you to transfer funds between eligible Watertown Savings Bank accounts and your accounts at other financial institutions through online banking.
Once your ownership of the external accounts has been established, transfers typically take less than 3 days.
There is a $25,000 limit for incoming transfers per business day and a $25,000 limit for outgoing transfers per business day regardless of the number of accounts you are using.
Transfers to your Watertown Savings Bank accounts from another financial institution are free. A $3.00 fee will be assessed for each transfer you make from your Watertown Savings Bank account to your accounts at another financial institution.
In order for you to use your accounts at other financial institutions, Watertown Savings Bank must verify you are authorized on the account.
In order for you to use the account at the other financial institution, Watertown Savings Bank must verify that you are authorized on the account. This will be acomplished by crediting your external account with a random deposit amount with one or two business days. Once you see the credit on the external account, log back into Internet Banking, go to enrolled accounts and key in the amount of the credit without decimal points or dollar signs. For example if 10 cents is credited to your external account, you will enter 10 in the verification field. You will have 7 days to complete this process
You may add another external account after clicking the return button below.Watertown Savings Bank must verify that you are authorized on the account in one of two ways:
Yes, you can schedule one-time and recurring external transfers.
You are limited to 2 accounts from other financial institutions.
Yes, funds will not be available for 2 business days after the day of the transfer. This typically will make your funds available to you in 3 business days.
Multi-Factor Authentication combines the use of the existing user name and password with an additional means of identification. On January 19, 2011 you will be required to select an image that will be associated with your online banking account for future online activity. This image will be displayed anytime you log into your online banking account to provide authentication that you are on Watertown Savings Bank’s internet banking site.
When you enroll, you will select an image known only to you. Whenever you log onto your internet banking account, the system will display the image you selected so that you can feel confident that you are accessing Watertown Savings Bank’s website and not an imposter site.
Watertown Savings Bank will also continue to utilize behavior and device tracking methods to protect your online banking account. Variances to normal internet banking behavior may result in being prompted with the challenge/response questions you have previously set up.
Existing online customers will see a change in the login process. Users will enter their login id and click submit which will take them to a second screen. They will then see their chosen online image and will enter their password to access their online banking accounts.
January 19, 2011
Both your user name and password will remain the same. The process of entering them will be changed by entering them on separate screens. You will enter your user id then click the login button, you then will be taken to a second screen where you will enter your existing password. This password screen will also show your chosen image.
No, you will continue to use the challenge questions that you previously established.
You can change your picture by selecting a new one under the options tab inside your internet banking account.
You will enter your login ID on the main page of our website and click submit. You will then be taken to a second screen where you will see an initial random image and a place for your internet banking password. After entering the password you will be take to a library of images where you can choose your personal image to be associated with your internet banking account. This image will be displayed each and every time you login to your internet banking account
You can get free up-to-the-minute information about all of your accounts and view all account transactions including ATM and point of sale transactions. You can transfer funds between eligible accounts including making payments on loans or credit lines. You can download transaction information into money management software programs such as Microsoft Money™ (OFX). All internal account transfers made after 5:00 p.m. will be posted on the following business day.
Our online banking is FREE.
Yes, as long as your business account is a sole proprietorship or a DBA for a sole proprietorship. Otherwise, you will need to set up separate online banking relationships for your personal and business accounts.
To start using our online banking service you will need:
- A personal computer
- An active account with an Internet Service Provider (ISP)
- Internet browser software with 128-bit security encryption
- An account with Watertown Savings Bank
You will also need to enroll for a user ID and PIN number.
You may access our online banking service through Watertown Savings Bank’s website at www.watertownsavingsbank.com. Simply input your User ID and PIN. If you are signing on to the online banking system for the first time, you will be prompted to change the temporary password, assigned by the bank, to a new password of your choice.
If you should happen to lose or forget your User ID or your PIN, please call Watertown Savings Bank at (315) 788-7100 and a Customer Service Representative will be happy to assist you.
First, we use 128-bit encryption, the highest form of encryption currently available, to secure your internet banking sessions. Whenever you see the padlock symbol in your browser, you know this security feature is active. Other security tools are in place to ensure the integrity of your data, including firewalls and filtering routers that secure computers from Internet access and a “trusted” operating system, which protects information from both internal and external threats.
For additional security, customers select their own Personal Identification Number (PIN). PIN guessing is deterred by locking the ID out of the system following three unsuccessful logon attempts. These are just a few of the many security tools we use. These layers of security work together to make sure that all information transmitted between you and Watertown Savings Bank is both secure and authentic.
There are basically two types of encryption: “High” and “Standard”. The difference between these types of encryption is the strength of capability. A “High” (128-bit) encryption is exponentially more powerful than a “Standard” (40 or 56-bit) encryption. “High or 128-bit encryption means there are a septillion (1,000,000,000,000,000,000,000) possible keys that could fit into the lock that holds your account information, but only one that works for each time you bank online. Watertown Savings Bank uses the highest level of encryption (128-bit) to ensure your online transmissions are secure. Our internet banking system does not support the use of browsers with 40 or 56-bit encryption.
Additional accounts can be added to your existing Online Banking ID at the time of account opening or any time in the future by visiting any Watertown Savings Bank location.
If you approve a funds transfer or loan payment, a “Confirmation Number” will be displayed. You may use this number if you need to refer to the transfer at a later time. The Confirmation Number will also be listed on your monthly account statement. If you make a funds transfer or loan payment using online banking before 5:00 p.m. on a business day that we are open, we will consider that day to be the day of your funds transfer or loan payment. However, if you make a funds transfer or loan payment using our online banking system after 5:00 p.m. or on a day we are not open, we will consider that the funds transfer or loan payment was made on the next business day that we are open.
Yes, you can transfer money between your Watertown Savings Bank Checking, Money Market, or Savings accounts. You may also make payments on your Watertown Savings Bank loans from your Checking, Money Market, or Savings accounts.
Funds transfers and loan payments may only be performed between accounts with the same primary taxpayer identification number or social security number.
1. Login to your Online Banking Account.
2. From the Main page, click 'Contact'.
3. In the 'Contact' screen, click 'Add Message'. This will open a secure
email message window.
4. In the subject line, type 'Add Account', and in the main message box,
list the account number(s) that you want to add and what you want
the account(s) to be titled Online. For example 1234567890-Main
Checking. When finished, click 'Submit'.
We will review your request, making sure that the information you supplied is correct and that you are authorized to access the account(s). Once verified, the account(s) will be added to your existing Online ID. You will not receive any notification that this change has been made, the additional account(s) will simply be listed the next time you log on.
This request will usually be completed within one business day.
Bill Pay is the process in which you can pay your monthly bills online. You can pay any business or person, even if they don’t accept electronic payments. All you need is the payee’s name and mailing address.
Your payments are either electronically transferred from your Watertown Savings Bank checking account through the Automated Clearing House (ACH) network or checks are written from your account and then mailed to the payee. Many organizations are not setup to receive payments through the ACH network, and therefore, payments will be made by check.
You can enjoy our bill pay service for free.
Payments made through the ACH network are debited from your account on the payment date you established for the payment. In other words, the date that you request the payment be made will also be the date the funds are debited from your account.
Payments made by check are debited from your account like any other check that you may write on your account. All check payments are processed and mailed out of Houston, Texas, so please be sure to allow extra processing time.
We recommend you select a payment date for electronic payments at least three (3)-business days before the payee’s payment due date to ensure the payment is received on time. For payments being made by check, you should establish the payment date at least ten (10)-business days prior to the payment due date. All check payments are processed and mailed out of Houston, Texas, so please be sure to allow extra processing time.
Bill payments may be established with a payment date, which falls on a Monday through Friday (excludes federal holidays). Payments established with a payment date of Saturday, Sunday or a federal holiday, will be processed on the next business day.
Watertown Savings Bank’s Account Acce$$ Online banking allows you to view the status of your payment transaction. Once it has been processed, the transaction will show in your online history and be clearly itemized on your monthly bank statement.
You may schedule payments as far in the future as you want. Recurring payments can have an ending date of any year in the future.
Our bill payment service determines which payments are made electronically or by check. When adding a payee, you should search the Electronic Payee database (click on the binoculars). If your payee is listed, you may choose to have your payment made electronically. If your payee is not listed, your payment will be made by check.
Yes, you can cancel an electronic bill payment at any time up until 4:00 p.m. (EST) on the business day prior to the payment date you established. Once the bill payment has been debited from your account, you CANNOT cancel or stop payment. If a bill payment has been processed by check, you may place a stop payment by contacting any of our banking locations before the check has cleared.
If the payee is in the Electronic Payee database, the funds come out of your account the day your payment is made. If the payee is paid by check, the funds will be deducted from your account the day the check clears the bank – just as if you had written it from your checkbook.
You can pay anyone in the United States (excluding government agencies) – from your next-door neighbor, to the utility company, the bank, and even a child in college across the country. You CANNOT make payments to any government agency.
You can make multiple payments to the same payee.
Yes, that way you will be able to properly reconcile your checkbook with your Watertown Savings Bank statement each month.
Yes, we support downloads in the following formats:
- Open Financial Exchange (.OFX – for Microsoft Money®)
- Spreadsheet (.CSV)
- Word Processing (.TXT)
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