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Personal Banking FAQs 

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How do you open a deposit account?

How do I reorder checks?

How much will my checks cost?

When is the charge for a check order applied to my account?

How do I balance my checking account?

How is interest calculated on a NOW interest checking account?

Is it safe to make a deposit at an ATM?

May I make a loan payment at an ATM?

May I use my ATM card in other countries?

What happens if I forget my ATM PIN (Personal Identification Number)?

How much cash can I withdraw using my ATM or Berkshire Bank Debit Card?

What is the purchase limit on a Berkshire Bank Debit Card?

Is a Berkshire Bank Debit Card a credit card?

How does a Berkshire Bank Debit Card work?

What is the difference between a Berkshire Bank Credit Card purchase and a credit card purchase?

I have just been issued a chip-enabled card. What is the difference between the magnetic strip card and the chip-enabled card?

Where can I use my chip card?

How does chip work?

What happens if an unauthorized debit/charge appears on my account?

What happens if my ATM or Berkshire Bank Debit Card is lost or stolen?

What is a check stop payment?

How long is a check stop payment in place and does a stop payment automatically renew at expiration?

May I add another name to the title of my account?

How does overdraft protection work on my checking account?

What is a pre-authorized payment?

Can I use my statement savings account for overdraft protection?

Can I order or redeem foreign currency at Berkshire Bank?

What is an APY?

What is an APR?

What is an ACH transaction?

When do deposit interest rates change?

When is a deposit available for withdrawal?

What is Berkshire Bank's routing number?

How do I report a change of address to Berkshire Bank?

       

How do you open a deposit account?

To open a deposit account, stop by your nearest Berkshire Bank office. You also have the option of opening select personal accounts through our website by accessing the Personal Banking page and choosing the Open a Personal Account link. Please note, you will need an acceptable form of ID.

 

How do I reorder checks?

Reorders can be placed on our website by clicking on the Check Order link, through Online Banking or at any bank office. If you need to change the style, name, address or mailing address of your last check order, please reorder through your nearest Berkshire Bank office.

 

How much will my checks cost?

The cost of checks varies depending on the style or amount ordered. For updated prices, stop by or call any Berkshire Bank office.

 

When is the charge for a check order applied to my account?

The charge for new checks is applied to your account when your order is shipped or approximately one week after ordering.

 

How do I balance my checking account?

The easiest way to balance your checking account is to carefully enter all transactions in your register as they occur. Do not forget to add additional charges such as ATM fees, service charges, etc. When you receive a statement or are reviewing your account online, we recommend the following:

 

1.  Make sure you enter and add all deposits in your checkbook register such as interest, electronic transfer credits, and ATM deposits that appear on your bank statement.

 

2.  Enter and subtract from your checkbook register any charges on your statement not yet deducted from your register, such as a charge for checks, service charge, electronic transfer charges or ATM withdrawals.

 

3.  List the ending balance of your account shown on your statement and add to that balance any deposits made after the date of the statement. List the total of these items and subtract the amount of outstanding checks (checks that you have recorded but do not appear on your statement). This total should agree with your checkbook balance.

 

How is interest calculated on a NOW interest checking account?

We use the daily balance method to calculate interest on your account. This method applies a periodic rate to the principal in your account each day. Interest is compounded and credited monthly. The stated APY (Annual Percentage Yield) assumes the funds remain on deposit for one year at the same interest rate.

 

Is it safe to make a deposit at an ATM?

Yes. Making an ATM deposit is as safe as making a deposit at a Berkshire Bank office. Your ATM deposit will be recorded by bank personnel to ensure it is properly credited to your account.

 

May I make a loan payment at an ATM?

No. Not at this time. However, we hope to be adding this feature soon.

 

May I use my ATM card in other countries?

Yes. Your card can be used any place that displays the Cirrus logo.

 

What happens if I forget my ATM PIN (Personal Identification Number)?

Bring your ATM or Berkshire Bank Debit Card to any branch or call 800-773-5601 during normal business hours. A representative will verify your identity and issue you a new PIN, which will be mailed to your primary address.

 

How much cash can I withdraw using my ATM or Berkshire Bank Debit Card?

The standard daily cash withdrawal limit is $600 per day for Berkshire Bank Debit Cards and $400 per day for ATM Cards. Funds availability may be limited by factors such as your current available balance or a predetermined authorized daily limit established at your request.

 

What is the purchase limit on a Berkshire Bank Debit Card?

The standard point-of-sale and purchase limit is $3,000 per day. Funds availability may be limited by factors such as your current available balance or a predetermined authorized daily limit established at your request.

 

Is a Berkshire Bank Debit Card a credit card?

No. The debit card will withdraw funds from your checking account. It will not allow you to exceed the balance in your account or to draw on a line of credit.

 

How does a Berkshire Bank Debit Card work?

In short, it works like a check, only better. The MasterCard® Express Card is still your ATM card, but you can also use it to make purchases from your checking account everywhere you see the MasterCard® symbol. Present the card at the time of payment the same way you would present a credit card. The merchant will give you a receipt to sign and the amount of the purchase will automatically be deducted from your checking account.

 

What is the difference between a Berkshire Bank Debit Card purchase and a credit card purchase?

While you're at the checkout counter, there is no difference. The only difference is how the money is settled from your account. Debit Card purchases are deducted from your checking account, just like a check, by accessing the available funds in your account. Credit card purchases are billed at the end of a cycle and are subject to interest charges if the balance is not paid in full. Although your Berkshire Bank Debit Card can act like a credit card, the funds will be automatically withdrawn from your checking account when you use it to make a purchase.

 

I have just been issued a chip-enabled card. What is the difference between the magnetic strip card and the chip-enabled card?

A chip card is like the card you have today, but includes an embedded microchip. The chip contains information that is encrypted - making it extremely difficult for the card to be copied or counterfeited. Your chip card will also have a magnetic stripe on the back, so that you can continue using your card while merchants are transitioning to new chip-enabled terminals.

 

Where can I use my chip card?

Use your chip card at the same merchants you do now -- either by inserting the card into terminals that are chip-enabled or swiping your card. You can also continue to use your card as you did before for online payments, telephone payments and at ATMs.

 

How does chip work?

When your card is inserted in the terminal the chip communicates with the terminal to determine whether the card is authentic. Typically, the terminal will prompt you to enter a PIN to validate your identity. Once approved, your transaction will be complete.

 

What happens if an unauthorized debit/charge appears on my account?

Contact Berkshire Bank immediately at 800-773-5601 or stop by any Berkshire Bank office.

 

What happens if my ATM or Berkshire Bank Debit Card is lost or stolen?

Contact Berkshire Bank immediately at 800-773-5601.

 

What is a check stop payment?

A stop payment is a request to prohibit a payee from cashing a paper check that has been issued in his or her name.

 

How long is a check stop payment in place and does a stop payment automatically renew at expiration?

A stop payment request is valid for six months if received in writing or 14 calendar days for a verbal request. A stop payment does not renew automatically. To renew a stop payment request, you must submit a new request in writing before the six-month expiration date.

 

May I add another name to the title of my account?

To add an additional signer to your account, both signers must visit a local branch so that the prospective co-signer can be identified and the signature card can be updated.

 

How does overdraft protection work on my checking account?

You may sign up for our Automatic Transfer Service for overdraft protection. With this service, funds are transferred from your statement savings to your checking account when there is not enough money in your checking account to cover your checks. The transfer fee is only $10 per transfer, regardless of the number of checks being covered. We transfer the exact amount of the overdraft and notify you when a transfer has been made.

 

What is a pre-authorized payment?

This is a payment arrangement that you have made with a third party, authorizing them to automatically debit your account, to pay for goods or services.

 

Can I use my statement savings account for overdraft protection?

Yes. You may sign up for Automatic Transfer Service for overdraft protection.

 

Can I order or redeem foreign currency at Berkshire Bank?

Yes. Stop by any Berkshire Bank office. All foreign currency orders placed by close of the business day will be shipped overnight for next business day delivery. Orders placed on Saturday will be received on Tuesday. All orders will be received within two business days.

 

What is an APY?

APY stands for the Annual Percentage Yield. This is a percentage rate reflecting the total amount of interest paid on your account, based on the interest rate and the frequency of compounding for a one-year period. The period depends on the actual number of days in a year.

 

What is an APR?

APR stands for Annual Percentage Rate and is the total financing costs associated with a loan on an annualized basis, divided by the amount borrowed.

 

What is an ACH transaction?

The ACH (Automated Clearing House) network is a nationwide electronic funds transfer system for participating depository financial institutions. The ACH network is commonly used for direct deposit of payroll and government benefits such as Social Security, direct payment of consumer bills, business-to-business payments, federal tax payments, and e-commerce payments.

 

When do deposit interest rates change?

Rates are changed weekly or at the Bank's discretion.

 

When is a deposit available for withdrawal?

For determining the availability of your deposits, every day is a business day except Saturdays, Sundays and federal holidays. If you make a deposit at our teller line before closing (or before 3:00 P.M. at one of our ATMs or using our Mobile Banking product) on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after closing (or after 3:00 P.M. at one of our ATMs) or on a day we are not open, we will consider that the deposit was made on the next business day we are open. If you initiate a transfer before 7:00 P.M. on a business day the bank is open using our Online Banking product or our Telephone Banking service, we will consider that day to be the day of your deposit. However, if you make a transfer after these cut off times or on a day we are not open, we will consider that the deposit was made on the next business day we are open.

 

In some circumstances, longer delays may apply. For more details stop by or contact a Berkshire Bank office.

 

What is Berkshire Bank's routing number?

Berkshire Bank's routing number is 211871691; this 9-digit number identifies the financial institution.

 

How do I report a change of address to Berkshire Bank?

To change your address, stop by any Berkshire Bank office or update your information through Online Banking.

 

 

For more information, call (413) 443-5601, 1-800-773-5601, stop into any Berkshire Bank office, or contact us.

 

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