What does it mean to be a Mutual Savings Bank?
A mutual savings bank has no stockholders. It is governed by a Board of Corporators and Directors, all of whom come from the local communities that the bank serves. The purpose of a mutual savings bank is to serve the people, businesses, non-profits and communities in the areas surrounding the branches. A mutual savings bank does not issue stock; therefore, it cannot be bought or sold. It is for profit because it must have capital to grow and expand products and services for the community and meet regulatory guidelines. Because a mutual savings bank does not need to satisfy stockholders by paying dividends, it has less need to generate large profits. This often results in better rates on loans and deposits as well as lower service charges and other fees. It is also reflected by supporting a variety of non-profit organizations and community initiatives.
What is Overdraft Protection?
Overdraft protection is a service that helps you avoid costly fees, inconvenience and embarrassment if you accidentally overdraw your checking account. To learn more about this product, contact your local branch.
Can I open an account online?
It is not possible at this time to open a new Saco & Biddeford Savings account online. You may request new account information by contacting one of our customer service representatives.
To contact us via the website, please click here.
How do I find out more financial information (balance sheet, income statement, performance and condition ratios) about Saco & Biddeford Savings?
You can visit the FDIC’s Institutional Directory database by going to the FDIC Institution Directory website and entering our FDIC Certificate #17743.
Are my deposit accounts FDIC insured?
Yes! Each individual customer at Saco & Biddeford Savings is insured by the FDIC up to $250,000. And, if you have more than $250,000 on deposit, your funds still could be fully protected. Under the insurance rules, money held in different types of ownership accounts (joint accounts, retirement accounts, etc.) are separately insured by the FDIC. Contact us for more information on FDIC insurance.
You can also visit the FDIC's Electronic Deposit Insurance Estimator to determine, on a per-bank basis, how the insurance rules and limits apply to you.
How do I securely upload a document to Saco & Biddeford Savings?
Learn More about our Secure Upload feature.
What should you do if you are an apparent victim of identity theft?
Learn more about what you should do in case of identity theft.
What if my debit card is lost or stolen?
If you believe that your card or code has been stolen, or that someone has transferred or may transfer money from your account without your permission, please call us at (207) 284-4591 or 1-877-722-6243 or write to our Customer Care Department at 50 Industrial Park Road, Saco, ME 04072.
Our regular business days are Monday through Saturday. Holidays on which we are closed are not included. If you are calling outside of our regular business hours, you may report a lost or stolen ATM/Debit card by calling 1-800-264-5578.
If my debit card number was fraudulently used, am I liable for any activity?
Cardholders are generally not responsible for unauthorized activity on their accounts (limitations do apply). Should unauthorized charges occur, we will help resolve this matter for you. We encourage all customers to continue to monitor their statements for any unusual activity. If you see any signs that your card information may have been fraudulently used, please contact us immediately.
What is my daily limit on my debit card?
Standard limits on debit cards are set to $2,000 for purchases and $500 for ATM withdrawals. These limits can be modified by contacting Customer Care at (207) 284-4591 or visiting your local branch.
Why do I have a limit on my debit card?
Limits are in place to reduce exposure of funds to fraudulent activity in the event your card data is compromised.
Why is my debit card not working for my online purchase?
This could be caused by a number of things. The most common reasons are:
Can I send a rush Bill Payment?
Yes! To send an expedited payment, navigate to the ‘Pay and Transfer’ tab and click on ‘Expedited Payment.’
Please note that there are fees associated with expedited payments.
How do I get started using Bill Pay?
To enroll in Bill Pay, go to the ‘Pay and Transfer’ tab and select ‘Pay Bills.” From there, complete the enrollment steps to enable Bill Pay. If you would like assistance with this process, please contact Customer Care at 207-284-4591 or toll free at 1-877-722-6243, or by email at email@example.com.
Please note that funds will not be removed from your account until to payment has been received and deposited by the payee.
What is People Pay?
People Pay allows you to send money to any individual within the United States. Going out for lunch? This is a great way to pay your friends! You will need their name and a cell phone number, email address, or PayPal information.
Please note that there is a fee for PayPal transactions.
What are external transfers?
External transfers allow you to transfer money between your SBSI accounts and your accounts at other financial institutions. During the setup, you will need to validate your external accounts through small dollar deposits.
Please note that there is a fee for outgoing funds.
I am trying to transfer money from my Line of Credit. Why am I receiving an error message?
At this time, Lines of Credit are View & Deposit only for Personal Online Banking customers; therefore, you are not allowed to transfer funds from this type of account. To discuss other options, please contact us at 207-284-4591 or toll free at 1-877-722-6243.
What is the difference between available balance and current balance?
Your available balance shows funds available for withdrawal and purchases. The most common reason for a difference between your available and current balance is a debit card purchase that has not yet cleared your account, but has created a hold for the authorized transaction amount.
If the website is down can I still get to Online Banking?
Yes. In the unlikely event that our main website is down, you can get to the Online Banking log in page by going to the following web address: https://cibng.ibanking-services.com/EamWeb/Account/Login.aspx?orgId=12W_211272630&FIFID=211272630&brand=12W_211272630&appId=CeB&FIORG=12W
As long as our Online Banking site is up, you will be able to log in and access your accounts.
Why can’t I have the same online banking User ID and Password as my spouse, significant other or children?
For security purposes, we require individual online banking credentials for each customer. Requiring individual online banking credentials reduces the risk of unauthorized access to your accounts since some parties may not be permitted to view/access all of your accounts.
How do I obtain the Mobile Banking app for my personal accounts?
Once a user has successfully logged-in to their Personal Online Banking, they can download the SBSI Personal mobile app from the appropriate app store for their device. Please note that our personal mobile app is now completely separate app from our business apps in the app stores.
What do I need to login to my Personal Mobile Banking App?
You will use the exact same Login ID and password that you use to login to your Personal Online Banking. In addition, you may need to authenticate yourself further with and One-Time Passcode sent to your phone.
What should I do if I can’t login to Personal Mobile Banking?
Users should first verify that they have entered the correct Login ID and password, and if necessary, have authenticated themselves further with a One-Time Passcode. If they are unsure about any of their login information, they can contact our Customer Care Department at 207-284-4591 for further verification, if necessary.
What are some of the features of Personal Mobile Banking?
Personal Mobile Banking will allow users to perform the following functions:
What is Mobile Deposit?
SBSI’s Mobile Deposit is a secure and convenient way to deposit a check into your eligible checking or savings account using the SBSI Mobile App and the camera on your mobile device.
What types of checks can be deposited through Mobile Deposit?
Most domestic originated checks in U.S. dollars are accepted via Mobile Deposit.
However, not all items are eligible for Mobile Deposit. The following list details the list of prohibited items:
How do I endorse the back of the check?
All checks submitted via Mobile Deposit must be endorsed with your signature and the words “For Remote Deposit at SBSI Only” on the back of the check. Checks submitted for deposit without this restrictive endorsement may be rejected.
If a check is made payable to two payees, both parties must sign the check, it must contain the restrictive endorsement outlined above and must be deposited into an account owned by both parties.
When will my deposit be available, and what are the deposit cut-off times?
If SBSI receives a mobile deposit before 3:00 p.m. EST funds will generally be available same day by 5:00 p.m. If SBSI receives a mobile deposit after 3:00 p.m. EST funds will generally be available by 5:00 p.m. on the next Business Day. Business days are Monday - Friday.
Weekends and Holidays: Deposits submitted to SBSI after 3:00 p.m. EST on Friday, throughout the weekend and on Federal Holidays will be processed and funds will generally be made available by 5:00 p.m. on the next business day.
Are there dollar limits on items I deposit?
Yes, there is a $2,500 daily limit and a $5,000 monthly limit.
How do I know if a mobile deposit went through?
Once you have submitted your deposit, you can tap the “recent” button at the bottom of the app screen, then tap “Check Deposits” to review the current status of your deposit.
Note: Please remember to keep in mind deposit cutoff times, mobile deposit processing and general funds availability timeframes. Mobile deposits are not immediately available in your account.
What should I do with my check after I deposit it?
Once you have confirmed that the deposit has posted to your account, please store your check in a secure place for 30 days after transmission to us, in the event SBSI requests it. After 30 days please write VOID on the check and destroy it by cross cut shredding.
How do I sign up for Mobile Deposit?
Important: You must be enrolled in Internet Banking to make Mobile Deposits within Mobile Banking.
Download the SBSI Mobile Banking App and set up your device to use the Mobile Deposit Service.
What is an eStatement, eNotice or eBill?
An eStatement, eNotice or eBill is an electronic copy of your statement, notice or bill which is presented to you through an electronic delivery channel such as online banking or the eStatements Direct service.
Do I have to be an online banking customer to have eStatements, eNotices and/or eBills?
No. If you are an Online Banking Customer, you can view your eStatements, eNotices and eBills by clicking on the statements tab.
Don’t want online banking? No problem! Access your eStatements, eNotices and eBills using our new eStatements Direct Service.
Can I have eStatements, eNotices and/or eBills on more than one account?
Yes, you can sign up for eStatements, eNotices and/or eBills for any eligible account that you are a signer on and currently receive periodic statements, notices and/or bills for.
How do I sign up for eStatements?
Log in to Online Banking and navigate to the Statements Tab. Then click on Preferences to select electronic delivery for notices and tax statements. Use the drop down options to select electronic statements and/or notices for each individual account!
Log in to Online Banking and navigate to the Statements Tab to begin the enrollment process. It only takes a few seconds! Sign Up Guide for existing Online Banking customers.
Can I receive both eStatements, eNotices and/or eBills in addition to a printed statement?
No. Once you sign up for eStatements, eNotices and/or eBills, printing of your documents will stop. You can stop receiving electronic documents at any time by making the change under the Preferences Tab on the eStatements page. We will re-start paper delivery. You can also contact Customer Care at 207-284-4591 or 1-877-722-6243 and they will be happy to assist you.
How do I stop eStatements, eNotices and/or eBills if I change my mind?
You can stop receiving electronic documents at any time by navigating to the Preferences Tab on the eStatements page. Click on the drop down arrow next to the appropriate account number and choose Printed/Mail Only. We will restart paper delivery.
Can I view my check images?
The images you currently receive as part of your statement will be available in the PDF version of your eStatement. You can also click on a check image to display a single check from your online history.
How do I know when my eStatements, eNotices and/or eBills are available?
If a new eStatement, eNotice and/or eBill is available for viewing, you will receive an email notification. Please remember that it is your responsibility to keep your email address up-to-date in the system should it ever change.
How many months worth of statements will I be able to see?
You will be able to view AT LEAST 18 months of statements, notices and bills, and 3 years of Tax Forms. If you ever need more than what is available, you can contact the bank and we will get those documents for you. They will be mailed or available for pickup at the branch office most convenient for you. Certain research fees MAY apply depending on how many statements are requested.
What do I need to receive eStatements, eNotices and/or eBills?
To receive your banking documents electronically, you will need the following:
What if I can’t find a statement, notice or bill?
If you are missing an electronic document, please contact Customer Care at 207-284-4591 or 1-877-722-6243. They will be happy to research the issue for you.
What if I there is a missing check image on my statement?
If you have a missing check image on your statement, please contact Customer Care at 207-284-4591 or 1-877-722-6243. They will be happy to research the issue for you.