Frequently Asked Questions
Digital Banking Upgrade FAQ
1. What are some of the enhanced features available to help you achieve your financial goals?
- Account Aggregation – View your Credit Union accounts AND those held at other financial institutions (FIs), all from one convenient dashboard. Link all types of external accounts including checking/savings accounts, retirement accounts, investment accounts, credit cards, mortgages, and loans
- External Money Transfers – Move money to and from deposit accounts held at other Financial Institutions (FIs)
- Internal Money Transfers – Self-manage your internal transfer needs, including the ability to deposit into another Midcoast Member’s account
- Account Personalization – Hide/unhide accounts, create/edit nicknames, change the color coding, and even rearrange the order of how the accounts are presented
- Enhanced Card Controls – Block/unblock your debit card, set travel notifications, report lost/stolen damaged cards, and request card replacements
- Transaction Clarity and Card Disputes – Clearer descriptions of transactions for better account monitoring and the ability to initiate a dispute for charges directly for credit and debit
- Enhanced eAlerts – Provides more options to stay connected to your account including delivery by email, SMS (text messages), and mobile Push Notifications
- Skip-a-Pay Requests – Directly request a payment break on your Midcoast loan
- Expanded Overdraft Protection – Select up to eight different account sources to protect your checking account from overdraft fees
- Financial Wellness Tools – Assess your financial health and spending habits, set savings goals, and manage your household budget
- Savvy Money – View Savvy Money from both the mobile and desktop environments
2. Why are you asking for my full Social Security Number as a part of the registration process?
To ensure that our member’s security is protected during the registration process, we are asking for certain identifying pieces of information, including your full SSN (without dashes). Please be assured that your information is fully secure within the platform, however if you are uncomfortable entering the information, contact us by phone to complete the verification process. When completing your verification online, do not use dashes when entering your SSN, dashes will cause an error message and state the information is not correct.
3. What are the password requirements for the digital banking platform?
The password must be a minimum of 10 characters, requiring at least 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character. Please do not share your login credentials with others, including joint account holders.
4. What is 2FA?
2FA stands for two factor authorization which is an additional layer of security available to protect your account access. This is also known as MFA – multifactor authentication. Generally, it refers to a secondary verification process beyond entering your username & password by sending you a unique code via text, email, phone, or 2FA app (i.e., Google Authenticator, Duo. Etc.) You can enable 2FA under Settings>Security and select your preferred method of communication.
5. What do I do if I just made an internal transfer or loan payment and do not see the transaction reflected in the account balance or transaction history?
On your mobile device, swipe down to refresh the application. On your desktop, refresh your browser session. If the transaction does reflect in the history, please contact us for assistance.
6. Where can I view pending and past debit transactions, transfers, and check holds?
You can see all of this information from within the transactions area in the account in question. For a consolidated view across all Midcoast accounts, visit the Dashboard screen in the desktop view. Please note that an “A” reference next to an account balance, refers to the available balance, which is actual account balance less any holds as shown.
7. From where can I link an external account?
On your mobile device, scroll to the bottom of the Accounts screen and click on Link and View External Accounts. From your desktop, go to the Dashboard or Settings>Accounts and click on +Link an External Account.
8. I linked an external account, but why can I not transact with it?
Linking an external account allows you to view account balances, transaction history and analyze spending activity in the Financial Wellness tools, but not conduct transactions. To link an external transfer account, see the next FAQ.
9. From where can I set up an external transfer account?
On your mobile device, click on Transfer & Pay option at the bottom of the screen and then the Add Account link. To set up an external transfer account from your desktop, go to Make Transfers and Payments > More Options > Add Account or go to Settings>Accounts> +Link an External Account and follow the system prompts. External transfer accounts can be added automatically by using your online credentials or manually by entering the Routing and Transit number and MICR number found on your check stock from the other financial institution.
10. How long will an external transfer take to process?
Once you successfully add an external transfer account, external transfer requests can be used to send money to or request from an account at another financial institution. They are processed via the Automated Clearing House (ACH) method and can take typically 3-5 business days to be completed. Requests must be made prior to 12 p.m. in order to be initiated that day. Requests made on weekends and scheduled holidays will be initiated on the next business day.
11. How do I make a transfer/payment to another Midcoast member?
Use this feature to set up a transfer/payment to another Midcoast account of which you are not an owner. You will need the following information, which must be provided by the account holder.
- Member’s last name
- The member number (6- or 7-digit)
- Share or Loan ID (ie: -00, -71)
On your mobile device, click on Transfer & Pay option at the bottom of the screen and then the Add Account link. To set up an external transfer account from your desktop, go to Make Transfers and Payments > More Options > Add Account or go to Settings>Accounts> +Link an External Account and follow the system prompts. After successfully adding the account, you may save the account for later by checking Save Account for Future Use. Once it is saved, you will see it in the To Accounts on the Transfers screen. These types of transfers generally take 5 to 10 minutes to process.
12. Can I still make loan payments with my debit card from another financial institution directly?
Yes, you can still make direct loan, mortgage, and credit card payments using your debit card from another financial institution. On your mobile device, click on the More… option at the bottom of the screen and then the Transfers and Payments > Pay by Swivel link. From your desktop, go to Make Transfers and Payments > Pay by Swivel and follow the system prompts. Please note that convenience fees apply for these expedited payments, as presented in the application.
13. What is Overdraft Protection and how does it differ from Overdraft Privilege (ODP/Courtesy Pay)?
You can now set up to eight different source accounts to protect your checking account from overdrafts by authorizing the Credit Union to make needed transfers to cover checks and/or debit transactions. The source accounts no longer need to be on the same member account number as the checking account. On your mobile device, click on the More… option at the bottom of the screen and then the Transfers and Payments > Set Overdraft Protection. From your desktop, go to Transfers and Payments > Set Overdraft Protection and follow the system prompts. Please note that a $5.00 transfer fee applies per transaction for this service.
Overdraft Protection differs from Overdraft Privilege (ODP/Courtesy Pay) in that if all protection source accounts do not contain sufficient resources to cover the check/debit card transaction, the Credit Union will honor the transaction up your available ODP limit. Checks drawn on your Midcoast FCU account are automatically protected by ODP/Courtesy Pay up to your available limit, however you must consent to have debit transactions protected. Please contact us to enable this on your debit card.
14. Why can’t I see some of the debit card features in the Card Management screen?
You must first activate your card on the screen in order to use the new tools. Once activated, click on the card image to set travel notifications, report lost/stolen damaged cards, and request card replacements.
15. What is Co-Browsing?
Co-Browsing is a member support tool that we can use to help you navigate the new platform that will allow us to view/take control your screen. It operates only within our application and does not permit our employees access to other areas of your computer or mobile device. To get started, contact us by phone or via the CHAT feature, we will then instruct you to obtain a Co-Browsing Code from the link provided in the footer of the application.