Phone: (740) 943-2317

Toll Free Phone: (888) 943-2317

General Support

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FAQs

Following are some of our most frequently asked questions, along with the brief answers you may be searching for. If you have additional questions, or need more information, please don't hesitate to ask one of our friendly banking professionals at any of our branch locations. Just call during regular business hours and you'll speak with an actual person (not a machine!) who will be happy to get you the information you need.

Banking Basics

Q: What is a "community bank"?

A: It's a bank that's owned and operated by people in your community. Our bank works hard and invests a lot of time and effort into making sure community, schools, non-profit organizations, and residents profit and have a better way of life.

Q: How quickly can I access deposits with ATM or online banking services?

A: Your deposits are available by both ATM and online banking immediately after being deposited, unless a hold has been placed on the funds (you will be alerted at the time of deposit if a hold is being placed).

Q: What are your hours of operation?

A: You can see all of our branch locations and the hours they're open on our Locations page.

Q: How soon can I expect to have a decision on a loan application?

A: For installment loans, officers can contact customers the same day. For mortgages and business loans, most loans go before our loan committee, which meets twice a week. Typically within three or four days, you will have an answer.

Q: Does your bank offer merchant services for business accounts?

A: Yes, we do. Read about our merchant services here or contact one of our branch offices for more details.

Q: Why can't I fill out a loan application online?

A: We believe that the "one on one" aspect is very important to the credit application process. Our loan officers are happy to meet with you in person at a convenient time for you. Contact them at loans@richwoodbank.com to set up an appointment.

Q: Why do NSF checks appear on statement a day after they are actually presented for payment?

A: Once a decision is made to pay or return a check, the actual posting process takes place the next day.

Q: Why can't I go back to look at my statements any further than when I originally signed up for online banking?

A: Because of size and security restrictions, we can't send your entire customer history to our online banking service. Currently we begin your online banking history from the day the user signs up.

Q: Can I get a copy of a check if I need it?

A: Of course! You can obtain copies of any of your checks (as long as they are not ACH transactions).

Q: Can I change my PIN?

A: Yes, your Personal Identification Number (or PIN) can be changed by calling one of our banking offices. You will need to provide some personal information to verify your identity.

Q: Do you have notary services?

A: Yes, each branch office has at least two notaries on hand each day. The service is free to customers and $2 for non-customers.

Q: Can I have other people do my banking for me?

A: As long as we have written authorization, you can have someone else do your banking. We encourage you to add the person(s) as a signer to your account.

Q: Do I need an appointment to meet with loan officers?

A: You do not need appointments, but you may have to wait if you arrive on a busy day. If time is a concern for you, it doesn't hurt to call ahead or schedule an appointment.

Q: Can I call to get my account balance?

A: All staff members are able to give balances over the phone after they've verified the identity of the customer. Customers are also encouraged to use our online banking service, where they can view their balances and transactions at any time safely and securely.

Q: Do you offer Travel Money Cards or gift cards?

A: Yes, our Travel Money Cards can be used at ATMs and anywhere Visa® is accepted. The cards are reloadable, and there's an activation fee of $10. Our gift cards can be used anywhere Visa is accepted; the activation fee is $3. Stop by or contact us to place an order.

Q: How do individual retirement accounts (IRAs) work?

A: Terms and interest earned on IRAs can vary substantially. For more details, please email us or give Deb, our IRA specialist at the Richwood Office, a call at 740-943-2317.

Q: Where can I find out about online banking services and how to use electronic bill pay?

A: You can get answers to your online banking and bill-pay questions on the Online Banking or Online Bill Pay pages of our website. You will need to call your local branch for further details and to get set up.

Q: What are the interest rates on your credit cards?

A: Rates can vary substantially; please contact us for the most up-to-date rates and information.

Q: What holidays are you closed for?

A: We are closed for New Year's Day, Martin Luther King Jr. Day, President's Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving, Christmas Eve (½ day), Christmas Day, and New Year's Eve (½ day).

Q: Can my payments to you be automatically deducted from my account?

A: Yes, just let us know that you would like to do this. If you sign up for automatic payments at loan closing, you'll receive ¼% discount on the loan. (NOTE: This only applies to installment-based loans.)

Q: Can you pick up a store's deposit and/or have a change order ready?

A: Yes, speak with one of our friendly branch managers for details on all of our business services.

Q: Do your loans have prepayment penalties?

A: None of the loans from The Richwood Banking Company have prepayment penalties. (NOTE: This excludes Home Equity Lines of Credit.)

Q: What is the advantage of amortizing over a longer term?

A: If you amortize over a longer term, then that's your required payment in good and bad months. You can always budget to pay more, and since there are no prepayment penalties, you will pay off your loan sooner and save on interest charges.

Q: What are the advantages of having an automatic debit to my account for my loan payment?

A: You save ¼% on an installment loan plus the price of a check and the cost of mailing. You also have the convenience of knowing that even if you're on vacation, or if the weather's bad, your loan payment will automatically come out of your account on the correct date.

Q: How do I set up direct deposit?

A: You must first discover if the person paying you has direct deposit capabilities. Next, they need your routing number and account number to send the deposit. Please call one of our offices for more details on direct deposit.

Q: Do you offer health savings accounts?

A: Yes, we do. Read more about our HSA accounts here or contact us for more information.

Q: What do I need to open an account?

A: You need $50 to open an account ($10 for minors). Bring your valid driver's license with you when you wish to open the account (or any other form of photo ID).

Q: Are Richwood Banking Company accounts FDIC insured?

A: Yes. Each individual customer at The Richwood Banking Company is insured by the FDIC to at least $250,000.

Q: How do I set up direct deposit of my payroll check?

A: After your checking application has been approved, you will receive RBC's routing and transit number and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company; direct deposit usually begins within 30 days.

Q: How do I set up direct deposit of my Social Security check?

A: After your checking application has been approved, you will receive RBC's routing and transit number and your account number. Simply contact us and have your Social Security number and account information available so that we can help set up your direct deposit right over the phone.

Q: Can I get information about my account by phone?

A: Account information is available from our Customer Service Representatives during business hours at any of our offices. After business hours, please use our online banking 24 hours a day.

Q: What products can I apply for online?

A: Most of our accounts may be opened online. If you see an "Apply Now" button on the page, click it to get started!

Q: Can businesses have online accounts at The Richwood Banking Company?

A: Yes! Click the "Online Banking" in the top-left area of this window to get started. You can always contact a staff member and we will be happy to assist you in person or over the telephone.

Q: Does The Richwood Banking Company offer IRAs online?

A: Currently, The Richwood Banking Company does not offer IRAs online; however, we continually update our products and services section so check back with us soon!

Q: Is interest paid on The Richwood Banking Company checking accounts?

A: Yes, many of our checking accounts are interest bearing. Take a look at the product details on our checking accounts to learn more.

Q: Can I open an account if I don't live in the United States? What if I live in the United States but am not a citizen yet?

A: At this time we only accept applications from persons residing within the United States with valid U.S. tax identification numbers (Social Security numbers). If you have questions, please contact us and we'll do our best to answer them for you.

Q: Can I do all of my personal banking with The Richwood Banking Company?

A: Yes! Thanks to the convenience of direct deposit, online banking, and ATMs, everyday banking activities can be performed from the comfort of home.

Q: Can I look at all of my transactions at any time?

A: With online banking, you have access to your account 24 hours a day, 7 days a week.

Q: How frequently is my financial information updated?

A: We update all customer information nightly. Whether you access our online banking site or visit our customer service department, your account information is updated every day to reflect all account activity.

Q: Are wire transfers possible to and from my personal checking account?

A: Yes, funds can be transferred to and from your RBC accounts by wire transfer or via ACH (Automated Clearing House) debits or credits.

Q: How do I make a deposit to my account from a remote location?

A: You can do most of your banking by using direct deposit or ACH (Automated Clearing House) transactions. We also offer a bank-by-mail service that allows you to mail non-recurring deposits. Businesses can deposit checks remotely via electronic Remote Capture.