2024 Technology Upgrade: Information and FAQs
Updated as of December 5, 2024.
A Better Banking Experience is Here
We’re happy to announce that we have successfully transitioned over to our core technology and digital banking platforms. We will continue to post alerts here as we navigate the early days of this transition. Read more about our new digital banking features for personal and business customers.
Online Banking Issues and Improvements
As we launch our new technology platform, we'll use this space to post updates and impacts.
- Change Login Credentials: Users may encounter issues when the username and password for a profile is not synchronized with the credentials used for Change Login. For example, if you change your username or reset your password for a particular profile, or have not yet logged in since our upgrade on September 30, it may cause an error. For security purposes, when updating your username or password for any profile, update these credentials for Change Login as well. See full instructions.
- QuickBooks Direct Connect Errors: You may experience intermittent errors when accessing QuickBooks. This issue has been escalated to Intuit. We will share an update on an estimated timeframe when we can. In the meantime, please consider using the WebConnect feature to download transactions.
- External Payment Platforms: You may not be able to connect your account to some external payment platforms. This is due to a missing Plaid integration since we converted to our new systems. We are working on implementing Plaid to resolve this.
- ACH Enhancements: We are working on enhancing the ACH processes. Our upcoming updates will increase batch processing capabilities and introduce greater user control over participant management, allowing for more efficient handling of high-volume transactions.
- Small Business Payment Alternatives: We are aware that some of our small business customers may need other options for making payments using their Beneficial State Bank accounts. Our new product, Zelle, is used to transfer funds electronically when the recipient is not a bill payee, typically for consumer transactions or businesses with less than three employees. We are working on an alternative solution for small business users, who may prefer electronic ACH payments if Bill Pay is not sufficient. As a temporary alternative, small business clients with a need for electronic movement of funds can migrate to a small business package with limited use of ACH and wires. Connect with us to see if you qualify.
- International Wire Transfers: To avoid delays in international wire transfers, please use the Single Wires Page for international or foreign currency wires. Enter the international routing numbers in the memo field to ensure accuracy. We are actively working with our technology partner and system upgrades are underway.
- Wire Beneficiary Account Numbers Displayed on Wire Details Page: Full beneficiary account numbers now display on the Pending Wires page. We're working on adding this feature to the Wire Details page in early 2025.
- Linking Consumer and Business Online Banking Profiles: We understand you may want to link your consumer Online Banking profiles to your business portfolio in Business Online Banking. We are working on allowing you to securely link these profiles and we expect to have an update in the coming months.
- Deposit Slip Image Issues: You may encounter issues viewing deposit slips and check images, particularly when multiple deposits are made on the same day. This can result in duplicate images or an inability to view images altogether. We are working diligently with our technology partners and anticipate a resolution by the end of 2024.
Frequently Asked Questions
General Questions
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What are the technology and system upgrades?
We are converting to a best-in-class banking system and state-of-the art online and mobile banking technology. We’ve partnered with several technology leaders in the industry to provide you with a wealth of banking features and functionality that go beyond our current capabilities.
You will notice improvements and efficiency when completing various transactions with us. Your online and mobile banking experience will improve, including new features and a streamlined login experience for all your accounts.
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Will branch hours change?
No. Branch hours and locations will remain the same.
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Will my account number or bank routing number change?
No. Your account number will not change, and the routing number will remain 121182056.
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Is Beneficial State Bank changing any fees?
Yes, see our updated fee schedules for personal and business customers that was sent to you in the mail. If you did not receive the updated fee schedules, please reach out to us.
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Why am I receiving notifications via paper mail?
We know that our clients care about the environment, and so do we. We are required by law to disclose certain information to all customers directly via postal mail to the address we have on file.
Automatic Deposits, Transfers, and Payments
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Will my automatic loan payments continue as usual?
Yes. Automatic payments to your Beneficial State Bank loans will continue as usual.
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Will my direct deposit still work?
Yes. Because your account number and routing number will not change, there will be no impact to existing direct deposits you have set up.
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What is the purpose of the external transfer product?
Our external transfer product is designed for personal use, allowing transfers between accounts owned by the same individual at different financial institutions.
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Can I use the external transfer product for business or trust accounts?
No, the external transfer product does not support transactions to trusts or business accounts. It is intended for consumer use only.
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What should I use for transferring funds to accounts held by others?
For external transfers to accounts owned by others, we recommend using Zelle, a convenient alternative for such transactions.
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Are there any limitations when using Zelle for transfers?
Yes, Zelle has limitations on the payment amounts that can be transferred.
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What options are available for small business payments?
Some small business customers may need alternative payment options. Currently, Zelle is primarily used for consumer transactions. However, we are developing a solution for small business users, such as sole proprietors. Small business clients who require electronic fund transfers can consider migrating to a small business package that offers limited ACH and wire capabilities. Please contact us to determine your eligibility.
Online Banking
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How will my login and mobile app experience change?
We have upgraded to a single login and mobile app for personal and business Online Banking users to manage deposit accounts, loans, and cards.
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What do I need to do to log in for the first time in Online Banking?
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Will I be able to view and pay my auto loan account in Online Banking?
Yes. You will no longer have to log in to a separate system to pay your auto loan and view your account details. You can access your auto loan account, make payments, and more in Online Banking. The first time you access the new system, you'll need to register as a new user.
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How far back will I be able to see transaction history for my checking and savings accounts?
For checking and savings accounts, you can search for the last 180 days of history. Please see your account statement for transactions older than 180 days.
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How will my experience of accessing Online Banking or the mobile app from outside the U.S. change?
With our new system, you will be able to access Online Banking and our mobile app from countries outside the U.S. without a VPN.
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Will there be personal financial management tools available in Online Banking?
Yes! We are excited to offer a personal financial management tool for personal account holders that allows you to monitor and manage your cash flow, investments, spending, budget, and savings goals.
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Are there new security enhancements?
Yes! Our new platform supports multi-factor authentication (MFA), including soft tokens for commercial accounts.
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Will I need to re-enter my scheduled bill payments?
No, that will be migrated. You will be able to see them when you log back in for the first time after September 30. However, any payments scheduled more than 12 months in advance (past September 26, 2025) will not migrate.
Any bill payments scheduled for between September 26 and September 30 will be sent on Monday, September 30. -
Do I need to re-set up my external deposit accounts to make transfers to those accounts?
Yes. If you have established connections with non-Beneficial State Bank accounts or Beneficial State Bank accounts that belong to another account holder for the purpose of making transfers, you will need to reestablish these connections and any scheduled transfers tied to them within the new Online Banking platform starting on September 30.
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Will I be able to access my credit score?
Yes! In Online Banking, personal customers will have the ability to conveniently access and monitor their credit scores and receive tips to improve.
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Will my Bill Pay history be migrated to the new Online Banking?
No. You will not be able to see your Bill Pay history after we migrate to the new Online Banking.
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Will I need to re-enter my Bill Pay payees?
You will be able to see your payees when you log back in for the first time after September 30. Please verify that all your payees are showing. You may need to re-enter some payees.
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Will my scheduled bill payments debit my accounts differently?
You will now select "pay by" instead of "pay on," which could impact when the money is withdrawn from your account.
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Will I still be able to open accounts online?
For customers who open new accounts online, this service will be unavailable starting September 20 while we upgrade to a new and improved experience.
Business Banking
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How will access to my IntraFi Insured Cash Sweep (ICS) balances change?
You will be able to more easily access IntraFi by clicking the IntraFi Account menu in Business Online Banking. You will still be able to access the IntraFi Insured Cash Sweep (ICS) client portal, but will now be able to access from your Online Banking session - now all in one place.
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When will I receive late payment notifications for my commercial loan?
You will no longer receive late payment notices at five days. Instead, the notices will be sent at 10 days.
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As an administrator in Business Online Banking, what new capabilities will I have to manage users?
Business administrators will have the capability to add, edit, entitle, and reset passwords for their users. This means you no longer need to call the bank to make changes to your business users.
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What new features can I expect for payments?
Business customers will have a robust set of tools available for both check and ACH positive pay features within Online Banking. This will expand your current capability for risk mitigation.
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Can I download my account activity in BAI2 format?
Yes, business customers will have the capability to download account activity in BAI2 format.
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Will I be able to see deposit slips and check images in Online Banking for my business?
Yes, our new platform will provide deposit slips and deposited check images within Online Banking account history.
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Are there new security enhancements?
Yes, you will have the ability to use soft tokens for high-risk transactions.
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How will the way I authenticate upon login and when completing transactions change?
For customers using soft tokens to log in and authenticate transactions (for ACH and wire services), email will no longer be an option for authentication. You will need to have a mobile phone to access the authentication app or receive a text message. International numbers are supported.
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Will Business Online Banking users be able to see all recurring transfers and transfer history?
No. In the new Business Online Banking platform, recurring transfers and transfer history are only visible to the business administrator.
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If I use Quicken or QuickBooks Online, is there anything I need to do the first time I log in to the new Online Banking platform?
Yes, you may need to re-add your accounts to your service and re-authorize those account additions the first time you log in.
Profile Management
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What should I do if I have multiple usernames and can't retrieve them using the Forgot Username feature?
If you have multiple usernames, the Forgot Username feature may not retrieve all of them. We are working with our technology partners to resolve this issue. Meanwhile, please contact us directly if you need help retrieving usernames for multiple accounts.
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What updates have been made to the Change Login feature, and where can I find guidance on using it?
Business Wires
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What will happen to my scheduled wires that have not yet processed at the time of conversion?
Any wires scheduled before September 27 that are to occur after September 27 will not be migrated. You will need to re-initiate the wire starting on September 30. However, your wire payees will be migrated and you won’t need to set these up again in Business Online Banking.
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Will I be able to edit the originator when initiating a wire in Business Online Banking?
No. The originator will be determined based on the account owner and cannot be modified.
Business ACH Services
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Will I be able to initiate child support payments?
Business customers will have the ability to initiate child support payments via the Business Online Banking ACH feature.
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Will I be able to group ACH recipients?
Yes, business customers will have the ability to group and/or categorize recipients via the ACH feature in Business Online Banking.
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Can I restrict ACH batches to users?
Yes, business customers will have the ability to restrict ACH batches to specific business users via the Online Banking ACH feature.
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What new abilities will I have for ACH batch templates?
You will have the ability to create import templates and define the data fields that should be mapped when importing ACH batches and recipients.
Credit Cards
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Will I be issued a new credit card?
Yes, you will receive a new credit card in early October 2024 with an active date of October 14, 2024. Your new credit card will have a new design, card number, expiration date, and CVV code.
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Will I continue to log in to the same credit card platform to view my account and make payments?
No. You will need to register as a new user on our consolidated portal and mobile app for all your Beneficial State Bank accounts. The Credit Card Online Portal will be discontinued.
If you are a business user, you will need to contact us to register your credit card in the new Online Banking system. -
Will the automatic payments I have set up (to pay bills, subscriptions, etc.) continue?
No. Once your new card is activated starting on October 14, you will need to contact those merchants to update them with your new number.
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Where will I go for credit card support and to make payments for my new credit card?
There will be a new number for support and a new mailing address to send payments by mail. You can also easily manage your account and make payments online.
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Will I be able to change my payment due date?
Yes! You will be able to choose from four payment dates. When your credit card account moves to the new system, your current due date will remain the same unless you change it.
Commercial Credit Cards
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How should I manage multiple cardholders within my organization?
Ensure all cardholders receive and activate their new cards. Update any internal records and systems with the new card details. Monitor usage and validate any limits and restrictions on card use.
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What is SpendTrack?
SpendTrack is a comprehensive online credit card management application designed for small business and commercial clients. It consolidates administrative tasks into a single, easy-to-use platform.
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Who should use SpendTrack?
SpendTrack serves small business and commercial credit card users, providing a streamlined platform for managing credit card programs across various company roles.
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How do I access my commercial credit card account with SpendTrack?
If your commercial card is linked to your personal Social Security Number (SSN), you need to access SpendTrack directly to log in and manage your account. Employees with such cards should use this direct access method.
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How can commercial and business card program administrators access SpendTrack?
Administrators can log in to SpendTrack via online banking using single sign-on. To set this up, they should contact our support team for assistance.
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What features does SpendTrack offer?
SpendTrack allows business owners, managers, and employees to efficiently manage their credit card programs by consolidating various administrative activities and tasks.
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Can SpendTrack be used for both personal and commercial credit cards?
SpendTrack is specifically designed for managing small business and commercial credit card accounts, not for personal credit card accounts.
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What should I do if I'm having trouble using SpendTrack?
If you encounter any issues while using SpendTrack, ensure you are following the correct login procedures. For further assistance, contact our support team.
Debit and ATM Cards
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Will I be issued a new debit and ATM card?
Yes, but not until early 2025. You will receive a new physical card with a new design, a new card number, expiration date, and CVV code. If you have a debit card or ATM card, you will receive direct communications about this change and any key dates.
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Will the automatic payments I have set up (to pay bills, subscriptions, etc.) continue?
No. Once you get your new card and activate it in early 2025, you will need to contact merchants to update your card number.
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Will the debit card “round up” feature continue?
No, we will be discontinuing this feature.
Statements, Loan Bills, and Checks
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Will I still be able to use my current checks?
Yes, you may continue using your current checks.
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When will statements process when the bank converts to the new system?
Statements will process and be mailed on September 27, 2024. For customers receiving statements at the end of the month, your next statement will be processed at the end of September. For customers receiving statements mid-month, you may receive two statements in the month of September.
If you’re accustomed to seeing interest pay to your account at your statement date, you will also likely see it reflected on your September 27, 2024 statement.
Personal Online Banking Enrollment Instructions
Starting September 30, 2024, you will need to enroll in our new Online Banking system.
Should I enroll as a New User or an Existing User?
- Auto loan customers: New User
- Credit card customers: New User
- Never enrolled in Online Banking: New User
- Enrolled in Online Banking but haven't logged in since April 3, 2024: New User
- Enrolled in Online Banking and have logged in at least once since April 3, 2024: Existing User
Existing User Enrollment for Personal Customers
- From the Beneficial State Bank website, click the “Log In” button.
- Enter your current username and password and answer a few questions to verify your information.
- If you use a password manager, you will likely need to manually copy and paste your username and password and then save them the first time you log in to the new system.
- Once you are verified, you will be required to change your password.
- You will be prompted to confirm your identity via phone call or text using the phone number you have provided us.
- Re-accept the electronic banking user agreement.
New User Enrollment for Personal Customers
- From the Beneficial State Bank website, click the “Log In” button and then click "Register."
- As part of the registration process, you will be required to provide your email address, social security number, and one of your deposit, credit card, or loan account numbers.
- If you do not have a social security number, please contact us directly.
- You will be asked to verify your identity via phone call or text using the phone number you have provided us.
- Choose a username and password and accept the electronic banking user agreement.
New Features for Personal Banking Customers
Our new Personal Online Banking platform will provide you with new features and a streamlined experience. We are excited to roll out better accessibility and the ability to do and see more. Additionally, we are providing a robust library of self-paced tutorial videos and demos.
Increased Accessibility
- A single place to sign in for all customers with all account types (including auto loan customers and, starting in October 2024, credit card customers)
- More accessible platform for people with disabilities, conforming to best practices in support of assistive technology
Do-It-Yourself Options
- More self-service options to save you time
- Credit and debit card control features
- Access to your credit score, plus tips to improve your credit
- Personal financial management tools
Better Transparency and Enhanced Communication
- Real-time account updates and alerts
- Improved online statements, tax forms, and notices
- Robust security alerts and notification subscriptions
- Exchange secure messages with bank staff
Business Online Banking Enrollment Instructions
Starting September 30, 2024, you will need to enroll in our new Online Banking system.
Should I enroll as a New User or an Existing User?
- Credit card customers: New User
- Never enrolled in Online Banking: New User
- Enrolled in Online Banking but haven't logged in since April 3, 2024: New User
- Enrolled in Online Banking and have logged in at least once since April 3, 2024: Existing User
Once registered, your designated business administrator will have the capability to add additional business users.
Existing User Enrollment for Businesses and Nonprofits
- From the Beneficial State Bank website, click the “Log In” button.
- Enter your current username and password and answer a few questions to verify your information.
- If you use a password manager, you will likely need to manually copy and paste your username and password and then save them the first time you log in to the new system.
- Once you are verified, you will be required to change your password.
- You will be prompted to confirm your identity via phone call or text using the phone number you have provided us.
- Re-accept the electronic banking user agreement.
New User Enrollment for Businesses and Nonprofits
- Contact your relationship officer for assistance in registering as a new user.
Business Online Banking Reference Guide
We've created a guide to assist commercial treasury customers with the transition to our new Online Banking system, ensuring a smooth and efficient experience. Inside, you'll find detailed sections covering:
- Actions to Take Before and After System Conversion
- Using Quick Login
- ACH Transactions
- Merchant Capture
- Summary of Important Dates
New Features for Business Banking Customers
Our new and improved Business Online Banking platform will allow you to accomplish tasks online without calling the bank, saving you time, allowing for more scalability, and providing more opportunities to improve how you manage your business banking. Additionally, we are providing a robust library of self-paced tutorial videos and demos.
Empowered to Do More
- Business user administration
- ACH payees with multiple accounts and child support payments
- User-defined ACH payees and batch import
Improved Risk Management
- Restricted batches
- Soft tokens
- ACH and check positive pay
- Dual controls
Increased Accessibility
- Permissions and entitlements
- ACH and wires via mobile
- ACH payee categorization
- Deposit slips and check images
Improved Transparency and Viewing
- Account-level BAI2 Export
- ACH Pass-Thru and batch template management
- Same-day ACH
- CDARS and ICS balances available to view
Personal Credit Card Online Banking Enrollment
If you have other Beneficial State Bank accounts:
- As of September 30, 2024, access the upgraded Online Banking system on our login page. See full instructions for enrolling.
- Starting October 14, 2024, the “Cards” menu will appear, giving you access to credit cards.
- Your credit card will be visible in the account summary section.
If you only have a credit card:
- Starting October 14, 2024, go to our login page.
- Click “Register,” then click the secondary link specifically for Personal Credit Card customers at the top of the page.
- Continue the registration process by providing personal information and verifying your identity via phone call or text.
- Choose a username and password and accept the electronic banking user agreement.
- Once registered, you will see your credit card in your account summary. You can manage your card, make payments, and more in the “Cards” menu.
Business Credit Card Online Banking Enrollment
Starting October 14, we encourage you to log in separately to our new credit card portal, SpendTrack. If your organization prefers a single login experience for all your accounts, you need to have Business Online Banking set up. Please contact us to help prepare your business for this option.
Important terms to know:
- Program Administrator: A user with full access to all the company’s credit card management features.
- SpendTrack: Our new credit card system, launching October 14.
Instructions for Program Administrators to Activate and Enroll in SpendTrack
- Enroll in SpendTrack:
- Access SpendTrack by clicking the link for business credit card users at the bottom of our login page.
- Click the “Need to Register” link, then choose “register as a program administrator.”
- Provide your personal information (name, phone number and email), the company tax ID, and the primary company phone number. If the company details do not match what we have on file, you may encounter an error message. Contact us if this occurs.
- Read and agree to the terms and conditions.
- After registering, a request is sent to the Primary Program Administrator. If one is not yet assigned, Beneficial State Bank will approve your registration request, and you will receive an email from SpendTrack with an activation link and code.
- After submitting the code, you will be sent another email with a one-time passcode to enter for final verification.
- Once verified, provide and confirm your new password.
- Select “begin” to open the Program Administrator dashboard.
- In SpendTrack:
- You will see your existing employee cardholders. Employee cardholders can get an invitation link from you or they can self-register using the link on our login page.
- Within SpendTrack, set up and manage employee cardholders and any additional Program Administrators.
Deposit Account Changes
Effective September 30, 2024.
Personal Deposit Account Changes
- Personal Checking
- The $2 reduction to the monthly service charge for having eStatements will no longer apply.
- New Features: We will waive the $5 monthly service charge if you have a direct deposit of $500 or more or if the account holder is a minor under the age of 18.
- Personal Savings
- The $2 reduction to the monthly service charge for having eStatements will no longer apply.
- New Features: We will waive the $5 monthly service charge if the account holder is a minor under the age of 18.
- Personal Interest Checking and Personal Money Market
- The $2 reduction to the monthly service charge for having eStatements will no longer apply.
Business and Nonprofit Deposit Account Changes
- Business Checking, Business Interest Checking, and Business Savings
- The $2 reduction to the monthly service charge for having eStatements will no longer apply.
- For current Business Interest Checking customers who meet the qualifications, you will be migrated into our new Changemaker Business Interest Checking.
Changemaker Business Interest Checking
This new checking account option is an interest-bearing account for business and nonprofit changemakers that are working toward meaningful social justice and environmental sustainability outcomes. There is no monthly service charge for qualified changemakers, such as nonprofit organizations, certified B Corps, CDFIs, and more. There is a minimum opening balance of $100 and eStatements are required.
For All Deposit Accounts
Our policy is to make funds from your cash and check deposits available to you on the first business day after the day we receive your deposit. In some cases, depending on the type of check that you deposit, funds may not be available until the second business day after the day of your deposit.
Effective September 30, 2024
The amount of your deposit that will be available for withdrawal on the first business day is increasing from $225 to $275 and the amount on exception holds for large deposits and new accounts, not subject to next day availability, will increase from $5,525 to $6,725. In addition, the threshold for determining a repeat overdraft increases from $5,525 to $6,725.