Will my direct deposits, automatic payments and transfers I have set up continue?
All direct deposits, automatic payments, and transfers between your existing BloomBank accounts will continue with MutualBank after April 23, 2018. If you have a BloomBank eBanking scheduled transfer between an external (non-BloomBank) account and a BloomBank account, that will not convert and will need to be set up within MutualBank’s online banking system. Please see the online banking section on page 18 for more information.
Direct deposits with BloomBank were posted to your accounts in the evening prior to the effective date. At MutualBank, direct deposits will post to your account prior to 6:00 AM EST on the effective date. For example, if your Social Security payment, payroll direct deposit, etc., has an effective date of Friday, June 1, 2018, BloomBank would have posted the deposit to your account after 6:00 PM EST on Thursday, May 31, 2018. With MutualBank, the funds will be posted to your account and available prior to 6:00 AM EST on Friday, June 1, 2018.
If you have transfers and payments, originating from another bank to your BloomBank account or loan, you will need to update your loan number with that originating financial institution. If you use your BloomBank debit card to pay for recurring services automatically, you will need to update your card information saved for scheduled transactions after April 23, 2018. If you are setting up new direct deposits or automatic payments and transfers, your new ABA Routing Number for MutualBank is 274970681.
How to setup new transfers within MutualBank's Online Banking