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General FAQs

Privacy FAQs

General FAQs

We understand that a website is always under construction. As a result, the information you tend to look for most often will evolve with the site. We will update this page periodically with new questions posed by our customers, and the corresponding answers to those questions.

Listed below, you will find some of the questions we are often asked. However, if you still have a question, please send an email to Laine Hissett-Bonard, our Contact Center Leader. She will research your question, notify you of the answer and when appropriate, post the response.

Please understand, however, that we will not post questions that use foul language or are defamatory in nature. Also, for your privacy, we will not post the names of individuals who supply any questions.


Q: What is the bank's routing number?

A: The routing number of First Hope Bank is 021204597.


Q: What are the hours and locations of your branches?

A: View our locations page for addresses, phone numbers, business hours, and map locations for all of our branches.


Q: How can I obtain a copy of one of my cancelled checks?

A: Cancelled check images are available through Online Banking for enrolled users. To learn more and enroll in Online Banking, click here. You may also request a check copy at any of our office locations or by calling our Contact Center.


Q: What can you tell me about First Hope Bank in general?

A: First Hope Bank is a community bank, which opened its doors for business on March 4, 1912. We are a privately held institution that has been operated by the Beatty family since its founding. Our mission is to provide financial solutions that help customers achieve their hopes and dreams while enhancing the growth and prosperity of First Hope Bank and our community. If you are interested in learning more about the history of our corporate headquarters, which is a restored Moravian church, and the history of Hope, please visit our history page.


Q: Does the bank offer Online Banking?

A: Yes. Our Online Banking product offers businesses and individuals the ability to check balances, pay bills, order checks, among other services. You can view an online demonstration of the site here. If you have questions about Online Banking, please contact our Contact Center.


Q: Does the bank offer eStatements?

A: eStatements are available to Online Banking customers, free of charge. If you are not yet an Online Banking customer, you can click here to learn more and enroll. If you have any questions about eStatements, please contact our Contact Center.


Q: What is your Internet Privacy Policy?

A: Our privacy policy can be viewed by clicking here.


Q: What products and services do you offer?

A: First Hope Bank is a full service bank that offers a variety of deposit, loan, and investment products. On the deposit side, we have next-day availability for both our business and consumer customers on a variety of accounts meant to meet the needs of everyone, from students to senior citizens. Our loan products include loans as diverse as debt consolidation, home equities and auto loans. In addition to these services, we provide trust and investment* products and services from our professional investment staff, as well as mutual funds, annuities and insurance offered through Raymond James Financial Services, Inc.**

*Investments are not insured by the FDIC, not deposits or obligation of the institution and are not guaranteed by the institution and are subject to investment risk, including possible loss of principal amount invested. 

**Investment products are sold through Raymond James Financial Services, Inc., Lance Armstrong, Investment Executive & Registered Representative, RJFS or Chang Lee, Investment Executive & Registered Representative, RJFS.


Q: Do you accept applications for loans over the Internet?

A: Yes! If you prefer to complete a paper loan application, we ask that you obtain the application on our mortgage website, www.firsthopemortgages.com, and either send in the completed application by fax or mail, or drop the application off at one of our branches. For questions about personal loans, please contact Michelle Miragliotta. For questions about mortgages, please contact Barry Cox. For questions on commercial loans, please contact Charlie Luszcz.

For deposit applications, in order to open certain accounts, we do ask that you come in to sign some documents. If you have any questions, please contact or visit any of our branches.


Q: When are checks available?

A: Check deposits are available on the next business day. Our business day ends at 6:00 p.m. EST Monday through Friday. Checks deposited after 6:00 p.m. EST on Friday or on Saturday will not be available until the following Tuesday, as Saturdays are not considered business days.


Q: What time does your business day end?

A: Our business day ends at 6:00 p.m. EST Monday through Friday for transactions performed at the teller line, with your debit card, and through Online Banking or Telephone Banking. Therefore, any banking transaction you perform prior to 6:00 p.m. EST Monday through Friday will be processed on the same business day.


Q: What do you offer business customers?

A: For business customers, we offer business checking with a low average balance requirement and next day availability. Additionally, we offer a commercial cash sweep with the ability to sweep excess funds overnight into a money market account. If you are looking for commercial loans, we offer time and term loans both on a secured or unsecured basis. Additional services include business debit cards, online cash management, merchant services, remote services, and wire transfers.



Privacy FAQs

Q: What kind of information do you collect?

A: The kind of information we collect depends upon your financial needs and the products and services you request. For example, when you apply for a loan or open an account with us, we need information about your financial status - such as your place of employment, income, monthly expenses, personal assets and debts outstanding - to process your requests. In addition, in order to make your banking as convenient and efficient as possible, we maintain information about your transactions with us, your account balance, securities holdings and repayment history. Our collection and use of information is consistent with the Voluntary Guidelines for Responsible Use and Protection of Customer Information developed by the American Bankers Association.


Q: How do you obtain the information?

A: We collect information from many sources. Much of our information comes directly from you when you fill out a loan or account application. For a loan application, we also obtain information from credit bureaus and other creditors regarding your credit and repayment history. We retain communications from you (such as letters or emails) in order to handle questions you may have and to keep records of your requests or concerns regarding our products and services. We also use your letters or emails to measure how effectively we have addressed your concerns. If you use our Online Banking service, we record your online sessions so that we can process and confirm your transactions and provide you with automatic online reports. We also obtain demographic and household information from outside sources such as database information firms.


Q: Who has access to customer information?

A: We have strict internal policies against unauthorized use or disclosure of customer information. Customer information is accessible only to employees who need it to conduct your financial affairs. We emphasize the importance of confidentiality through our code of conduct, employee training, operating procedures and privacy policy. We require the businesses with which we have a relationship to maintain the confidentiality of consumer information.


Q: Why do you need this information?

A: We maintain information and data about you to maintain the security of your accounts and to protect you and the entire institution against fraud. We need clear and accurate information to be able to positively identify you and authenticate your transaction in order to prevent access to your accounts by unauthorized individuals.

We also collect and analyze customer information as the first step in recommending new products. For example, if we know you are a homeowner in need of additional financing, we can recommend a home equity loan or credit line as an alternative to an installment loan because of its potentially lower costs and tax benefits.

We are also required by laws and regulations to gather certain information. For example, we are required by federal regulation to obtain a tax identification number (generally a social security number) for many of our accounts, including all checking, savings or investment accounts that pay interest.


Q: What do I do if I see any inaccurate information in my statements?

A: We work hard to ensure that your information is current, accurate and as complete as possible. If you see any inaccuracy in your statements or in any other communications from us, please call our Contact Center at (908) 459-4121. It is our policy to investigate and correct inaccuracies in a timely manner.


Q: Are there any regulations on disclosure of account information?

A: Yes. Under current law, we are allowed to share certain information - such as your name, address and information about your accounts among departments within the bank. In some cases, such as fraud investigation or in response to a validly issued search warrant or subpoena, we may be required by law to provide certain information to law enforcement agencies. There are also laws and regulations that affect the sharing of information with firms outside our family of companies (such as check printers, data processors and marketing firms).


Q: Will my medical records be shared?

A: No. We recognize that when consumers provide medical information for a specific purpose, they do not wish it to be used for other purposes, such as marketing, or in making a credit decision. If a customer provides personal medical information, we will use it only for the purpose for which it was intended.


Q: Why do you share information with outside (third-party) companies?

A: We use third parties to help us process your financial transactions and to provide you with a full range of financial products and services. For example, we use third parties to print your checks and to process your account transactions. This allows us to provide more efficient services and helps keep your costs as low as possible. In addition, when you open an account or apply for a loan or line of credit, we use various credit bureaus as part of the process for approving your application. We may also use outside companies to help us with fraud investigations.


Q: What kind of information do you share with third-party companies?

A: The information shared depends on the product or service we are providing to you. We may share your name, address, social security number, driver's license number, loan or credit card repayment history, or overdraft history depending on the situation. We will not share your account number or access codes with any third parties for purposes of marketing their products or services to you.


Q: Will the third party companies keep my information confidential?

A: We will not share customer information with any company that does not agree to keep your information confidential. We carefully select the third party companies we work with and any information that is shared is always subject to a strict confidentiality agreement. Moreover, it is a violation of federal law for a third party to reuse customer information received from us unless that information is also publicly available elsewhere.


Q: Is it possible to prevent information sharing with third parties?

A: You may register to use DMAchoice to help manage your mail by visiting the Direct Marketing Association's consumer website. Requests can be completed online by visiting the links below:

Mail Preference Service
E-Mail Preference Service

To stop receiving unwanted telephone calls, you may register with the Federal Trade Commission's National Do Not Call Registry. Requests to register online can be completed by visiting the link below:

National Do Not Call Registry


Q: Where can I find out more about privacy laws?

A: To find out more, please visit any of the following sites. The Federal Trade Commission has helpful information on their website, including a page discussing the privacy of minors. The American Bankers Association also has helpful information on privacy, as well as consumer tips for preventing identity theft and managing credit.

Questions or comments about the privacy policy should be directed to:

Cara Quick
Vice President | Compliance Officer
1301 Hope Bridgeville Road
P.O. Box 296
Hope, NJ 07844
Telephone: (908) 459-4121
Fax: (908) 459-6085


*Confidential information should not be sent via email.

Online Banking and Bill Pay FAQs

Mobile Banking FAQs

Mobile Deposit FAQs


Online Banking and Bill Pay FAQs

General

Q: Who can use Online Banking?

A: Any First Hope Bank customer can enroll in Online Banking to access both personal and business accounts.


Q: I'm having trouble accessing Online Banking. What's the problem?

A: There are several possibilities. If you are having problems accessing many websites, please contact your Internet Service Provider (ISP). If you can access other websites but not ours, then either our system is offline or we are experiencing a temporary disruption in service. Please try again later. If the problem persists, please call our Contact Center during regular office hours.


Q: Are eStatements available?

A: Yes! Online Banking customers who enroll in eStatements can enjoy the convenience and security of receiving statements electronically.


Q: How do I transfer funds online?

A: You can transfer funds online by following these instructions:

  1. Log in to Online Banking.
  2. From the drop-down menu to the right of the account you wish to transfer from, select Transfers.
  3. At the top left of the screen (beneath the blue menu bar), click New and follow the on-screen instructions to schedule a transfer.


Q: My Online Banking access has been locked. How can I get it unlocked?

A: If you enter an incorrect password or incorrectly answer your security questions three (3) times, you will be locked out of Online Banking for your own security. In order to have your Online Banking access unlocked, you must call our Contact Center or visit any of our branch locations.


Q: Why won't the system accept my new Online Banking ID/password?

A: Your Online Banking ID must contain between 4 and 25 alphanumeric characters (special characters allowed but not required), and must begin with a letter. Your password must contain letters, numbers, and at least one special character and must be between 8 and 25 characters (no more than 25 and no less than 8).


Q: Do you offer Mobile Banking?

A: Yes! Our mobile app is available for iPhone and Android devices, and can be downloaded from the App Store and Google Play. You must be an Online Banking user to sign up. To learn more about Mobile Banking, click here.


Bill Payment

Q: How do I set up a bill payment to a new payee?

A: You can set up a new payee by following these instructions:

  1. Log in to Online Banking.
  2. Click the Payments tab.
  3. Under the blue menu bar, click the blue "Add a Payee" button.
  4. Select the type of payee you wish to pay and enter the required information. Once all required information has been answered, you will be taken back to the payments tab where your payees will be listed.
  5. To make a payment, locate your payee in the list or use the search option in the top right corner.
  6. Select the account you wish to pay from and enter the correct payment amount.
  7. Once you have verified that the payment information is correct, click the "Pay" button to schedule your payment.


Q: Why hasn't my online bill payment been deducted from my account?

A: Bill payments are sent through our online bill payment service in one of two ways. If the bill payment is transmitted electronically (either by email or direct deposit) to the payee, it will be deducted from your account the same business day it is scheduled to be paid. If the bill payment is sent as a check, it will not be deducted from your account until it is presented to the bank for payment.


Q: How long will it take for my bill payment to be received?

A: Bill payments are sent through our online bill payment service in one of two ways. If the bill payment is transmitted electronically (either by email or direct deposit) to the payee, please allow one (1) to two (2) business days for that payment to be received. If the bill payment is sent as a check, please allow five (5) to seven (7) business days for that payment to be received.


Bank to Bank Transfers

Q: How do I enroll in bank-to-bank transfers?

A: Select bank-to-bank transfers from the Online Banking menu bar. Review the Enrollment Introduction and click Enroll. Review the Service Agreement and click I Agree. Complete the New Bank-to-bank Transfer External Account form and click Submit. To add additional accounts, repeat the above steps; the maximum number of external accounts you can enroll is three (3).


Q: How do I add a new bank-to-bank transfer account?

A: Select Bank-to-Bank Transfer from the Online Banking menu bar. Click Add Account. Complete the New Bank-to-Bank Transfer External Account Form and click submit. To add additional accounts, repeat the above steps; the maximum number of external accounts you can enroll is three (3).


Q: How do I know if my accounts are enrolled in bank-to-bank transfers?

A: Select Bank-to-Bank Transfers from the Online Banking menu bar. Click Enrolled Accounts. Your list of enrolled accounts, as well as the status of those accounts, will display.


Q: What is the verification amount?

A: All accounts are set to auto-verify with the external financial institution. The system automatically generates two small credit transactions (usually less than $1) to the External Account. Once you see the two credit transactions in the External Account, you will need to enter them in your First Hope Bank Online Banking (under Bank-to-bank transfers, click Enrolled Accounts). Verification amounts must be entered without dollar signs or decimal points. Example: 10¢ is entered as 10. If you enter the incorrect amount an alert message will appear to please reenter the correct amount. You will have 5 days to complete the verification process. If the amounts cannot be verified, the account will have to be deleted and added again to generate new test transactions.


Q: How do I add a new bank-to-bank transfer?

A: Select New Transfer from the menu bar. Select the account from which the funds will be debited and the account to which the funds will be credited. If you choose an internal account as the debited account, then external accounts will be displayed as credited accounts only and vice versa. Choose the amount, frequency (one-time, weekly, bi-weekly, semi-monthly, or monthly) and date (this would change depending on frequency) that you would like the transfer to be. You may add comments regarding the transfer in the memo section. Review the transfer you have set-up, hit Submit, and a confirmation message will be displayed.


Q: How do I edit a bank-to-bank transfer?

A: You may only edit a bank-to-bank transfer that is pending. Select Bank-to-Bank Transfers from the menu bar, then click Pending. You may edit a transfer date, amount, or frequency. After you have completed the edit, review your transfer and click Submit. You will receive a new confirmation message.


Q: How do I view my bank-to-bank transfer history?

A: Select Bank-to-Bank Transfers from the menu bar, then click History. You can view your bank-to-bank activity for the past 7, 15, 30 or ALL days.


Q: Is there a fee for bank-to-bank transfers?

A: There is no fee for an incoming bank-to-bank transfer. To transfer funds to an external account, there is a $3 fee per transaction.



Mobile Banking FAQs

To get started, log in to Online Banking, click Options, and select Mobile Settings. You'll be prompted for your cell phone number and asked to select your wireless service provider along with which accounts you wish to access with your mobile device. If you're not enrolled in online banking yet, click here to do so today.


Q: What are the restrictions on the type of mobile devices that can be used to access accounts?

A: The First Hope mobile solution is phone device agnostic. It works with any web-enabled mobile phone device whose network allows secure SSL traffic.


Q: What functions can I perform from my mobile device?

A: You can:

  • View Transaction History
  • View Account Balances
  • Transfer Funds between accounts
  • Pay Bills to existing Payees
  • View Alerts


Q: How do I know if my transfer or bill payment was entered successfully?

A: Each time you make a transfer or bill payment, a confirmation SMS Text Message will be sent to your mobile device. If you do not receive a confirmation text message, double check to make sure the transaction went through.

Log in to Online Banking > Select Options > Mobile Settings > Deselect Activate Mobile Banking Access > Click Agree.


Q: What happens if I lose my mobile device?

A: Since your account data is not stored on your mobile device, your information cannot be stolen. When you replace your device, simply edit your Mobile Settings and make any changes to the Wireless Provider and/or Phone Number.


Q: Why can't I add a new payee?

A: At this time, functionality is limited to sending payments to already established payees. To add a new payee, log in to the online banking site, select Bill Payment, and add a new payee. You can then submit payments to that payee via your mobile device.


Q: What happens if I lose communication/signal during a transaction?

A: When you complete a transaction from your mobile device (bill payment, funds transfer, etc.) you will receive an SMS Text Message as confirmation that the transaction was successful. If you do not receive this message due to a dropped call or lost signal, check your accounts and re-submit any transactions that did not process.


Q: What do I need to do if I get a new phone?

A: If you simply get a new phone, but are using the same phone number and provider, no changes on your part are necessary. If you switch providers and/or phone numbers, log in to your Online Banking account via the Internet and update your information on the Options > Mobile Settings page. You will not receive SMS Text Messages regarding Mobile Banking transactions if your phone number is not correct.


Q: How can I search for a transaction?

A: You will be able to view 15 days worth of transaction history on your mobile device. There is not yet a search feature.


Q: Can I use any mobile device to access my accounts?

A: Yes. You can access your accounts via any mobile device that is web-enabled and allows secure SSL traffic. The only difference is that SMS Text messages will be sent to the device entered when enrolling for mobile banking, not any device from which you perform a transaction.


Q: Can I add a new Bill Payment Payee via mobile banking?

A: No. You can only add payments to payees already established through your traditional Internet-based First Hope Online Banking ID.


Q: How do I delete a Bill Payment that I set up through my mobile device?

A: You must log in to First Hope Online Banking and delete the payment from the main menu of the Bill Pay module.


Q: When I try to enter an amount for a bill payment or transfer, I can't enter any numbers, only letters. Why?

A: Check your phone's settings to make sure you don't have Alpha-only enabled on the keypad.


Q: What if I can't get my mobile device to work with Online Banking?

A: There are a number of reasons that you may experience trouble accessing the mobile version of Online Banking on your phone. To use the mobile version, your phone will need to meet the following minimum requirements:

  1. You must first enroll through traditional Online Banking before you can gain access.
  2. Your mobile device must be web enabled.
  3. Your mobile network must allow secure SSL traffic. (You may need to contact your mobile provider to determine this.)



Mobile Deposit FAQs

Q: Can anyone sign up for Mobile Deposit?

A: In order to enroll in Mobile Deposit, you must meet the following guidelines:

  1. Maintain Account in good standing
  2. Enroll in Online Banking or Business Online Banking (Cash Management)
  3. Comply with the Mobile Deposit Terms and Conditions


Q: Is there a fee for using Mobile Deposit?

A: First Hope Bank does not charge for this service. However, connectivity and usage rates may apply. Contact your wireless provider for more details.


Q: Is there any specific hardware or service plan required?

A: Hardware, such as a mobile device capable of downloading First Hope Mobile from the Apple Store or Google Play Store and capable of capturing electronic images of the front and back of checks and transmitting the images to us, is required. A mobile service plan which allows for the download of the First Hope Mobile app and transmission/receipt of data (additional charges may apply), is also needed.


Q: What types of items can I deposit using Mobile Deposit?

A: You may deposit paper items such as checks, or cashier's checks that are payable to you and endorsed by you with your signature.


Q: Are there any items I cannot deposit using Mobile Deposit?

A: Yes, unacceptable items include:

  • Checks payable to any person or entity other than you
  • Checks not payable in United States Currency
  • Savings Bonds, Traveler's Checks, money orders or postal money orders
  • Checks previously deposited whether as an original item, substitute check or image replacement without our express written consent
  • Checks that are incomplete or "stale dated" (more than six months old) or "post dated"
  • Checks drawn on banks located outside the United States
  • Checks containing any alteration of which you know or believe to be fraudulent or not authorized by the owner of the account on which the check is drawn
  • Any checks that are not in original form with a signature, such as substitute checks or remotely created checks


Q: What do I do with my checks after they've been deposited?

A: Be sure to do the following after depositing your checks:

  1. After you see your mobile deposit post to your account, prominently mark the item "Electronically Presented" or "VOID"
  2. Retain the original paper item for a minimum of five (5) calendar days, but no longer than fourteen (14) calendar days from the transmission date.
  3. Retain in a secure and locked container which is only accessible by persons needing access to the item
  4. Provide us with the original paper item upon request during the retention period
  5. Once the retention period has expired, securely and irretrievably destroy the original paper item. Shredding the item is one way of destroying it. Once the retention period has expired, you may bring your electronically presented checks to any First Hope Bank branch location for destruction.


Q: What are the deposit cutoff times for Mobile Deposit?

A: Deposits must be made before 5:00 PM eastern time in order to be considered deposited the same day. Deposits made after 5 pm eastern time will be considered deposited the next business day. A business day is Monday through Friday, excluding Federal holidays and as otherwise posted in our branches.


Q: Are there limits to the number of items that I can deposit?

A: Yes, limits include:

  • Maximum number of items per day – 5 items
  • Maximum dollar amount per day – $2,500
  • Maximum number of items per month – 10 items
  • Maximum dollar amount per month – $5,000


Q: How will I know if my deposit was accepted?

A: Deposit confirmations and exception information will be sent via e-mail. Please keep your e-mail current.

Remote Wire FAQs
Remote ACH FAQs
Remote Deposit Capture FAQs


Remote Wire FAQs

Q: Why should my company initiate wires this way?

A: You can now eliminate time-consuming wire form preparation and trips to the bank, improving the speed and efficiency of initiating wire transfers.


Q: How does it work?

A: You will be able to enter each of your wire transfers into business online banking using your personal computer. The files are then transmitted to the bank's service bureau for item processing through the Federal Reserve System. The system also has the capability to initiate wires on a recurring basis without the need to re-enter the information.


Q: When will my funds be available?

A: As with traditional paper form wires, electronic wires submitted by the wire cut off time will be transmitted the same day. Credit to the recipient account will be based upon the procedures of the recipient's bank.


Q: Can I enter wires for recipients outside the local area?

A: Absolutely! This is one of the best features of Remote WIRES. Wire transactions can be entered to credit any bank account with a US routing number and valid account number.


Q: Is the wire delivered by the same process as my current paper wires? Will my recipient notice a difference?

A: The wires are processed through the same Federal Reserve Wire system as when you submit paper wire forms. Your recipient will see no difference in the credit to their account.


Q: Is there a deadline for my wires to be transmitted on the same Business day?

A: Currently, the cutoff is 1:00 p.m. ET to enter the wire and complete the security verification. Wires entered or verified after this time may not be transmitted until the next business day. Wires entered after the cut off time will show a status of "Next Day." After the bank's end-of-day processing, the status will change to "Initiated" and the wire will be processed by the bank on the next business day.


Q: How do I know if the bank received my wire?

A: The wire status will change from "initiated" to "Processed" once the bank has taken the option to process your wire.



Remote ACH FAQs

Q: Why should my company submit transactions this way?

A: You can now eliminate the time-consuming practice of writing paper checks to vendors, offer employees the convenience and security of direct deposit, and allow customers the convenience of paying invoices without a credit card.


Q: How does it work?

A: You will be able to enter your payments, payroll or receivables into your business online banking using your personal computer. The transactions are then transmitted to the bank's service bureau for item processing through the Federal Reserve System to debit/credit your vendor/employee/client's bank account.


Q: When will the funds be available?

A: Transactions are entered two (2) business days prior to their effective date. Funds are available on the effective date or, if the effective date is a non-business day, on the next business day after the effective date.


Q: Can I enter transactions for clients or vendors outside the local area?

A: Absolutely! This is one of the best features of Remote ACH. Transactions can be entered to credit or debit any bank account with a US routing number and valid account number.


Q: Is this the same process that I see being used by some retailers and utilities?

A: Yes, they are actually converting your check into an electronic transaction. This conversion is called an ACH (Automated Clearing House) transaction, which electronically debits your account. This is the same type of transaction you will be entering in your business online banking.


Q: Is there a deadline for my transactions to be initiated on the same day?

A: Currently, the cutoff for same day processing is 2:00 p.m. ET. Transactions initiated and approved after 2:00 p.m. ET will initiate on the next business day.


Q: How do I know if the bank received my deposit?

A: When your file has been received by the bank before our 2:00 p.m. ET cutoff time, you will see the status change from "initiated" to "processed" on your screen. You will be able to see the debit/credit to your account via the Business Online Banking system on the effective date.


Q: What kind of transactions can I enter?

A: The chart below shows the types of transactions available with First Hope Bank Remote ACH services.

Please scroll left to view the rest of the table.
ARC Accounts Receivable

Enables Originators to convert 
checks received via US mailbox 
to single-entry ACH debits.

Single Debit Only
POP Point of Purchase

Check presented by the originator
to a merchant for purchasing a
goods or service is presented as
an ACH debit rather than a
physical check.

Single Debit Only
PPD

Prearranged
Payment 
and Deposit

This SEC code is used to credit
or debit a consumer account,
generally used for payroll direct
deposits or preauthorized bill
payments.
Debit or Credit
RCK Re-Presented Check A physical check that is presented
but returned due to insufficient
fund in the account holder, this may
represent as an ACH entry.
Single Debit Only
TEL Telephone Initiated Enables a single entry debit
transaction to a consumers account
through an oral authorization made
by a phone call.
Single Debit Only
WEB Internet-Initiated Entry Enabled payment authorization is
obtained from the customer
via the Internet.
Debit Only
CCD

Corporate
Credit or 
Debit

Used for Business to Business
transactions.
Debit or Credit
CTX

Corporate
Trade 
Exchange

Payment or collection of
obligations between
separate businesses.
Debit or Credit



Remote Deposit Capture FAQs

Q: Why should my company deposit this way?

A: You can now eliminate time-consuming manual deposit preparation and trips to the bank, improving the speed and efficiency of both collections and returns.


Q: How does it work?

A: You will be able to scan each of your deposit items (i.e., checks) into digital image files using a desktop scanner and your personal computer. The image files are then transmitted to the bank's service bureau for item processing and image exchange electronically. The scanner will be provided by the bank as long as a Remote Deposit Capture agreement is in effect.


Q: Can the destination account be changed and diverted to another account?

A: No; the account information is set up at the bank, and is not changeable at the customer site. You and your employees will access the Remote Deposit Capture website through your Business Online Banking individual user ID and password.


Q: When will my funds be available?

A: Since you can deposit every weekday, and do not have to wait for a weekly trip to the bank, your money gets into your account faster. Funds are typically available on the next Business day.


Q: Can I make deposits from outside the local area?

A: Absolutely! This is one of the best features of Remote Deposit Capture. Items can be scanned and deposited electronically from anywhere -- even from another state.


Q: Can I use any kind of scanner?

A: No, we will provide a scanner that is compatible with our software that will meet your check volume needs.


Q: Do I have to copy each check before I scan it?

A: Continue doing what you normally do, however, with each batch of checks that you scan, a deposit report can be printed giving you a detailed list of each check, all of the MICR information and as much information about the check writer as you care to enter. Keep in mind that if you are keeping photocopies of original items, they will need to be kept in a secure location along with the originals.


Q: What do I do with the original check?

A: Store them in a secure location for at least [60] days, but not more than [90] days. You are then responsible for shredding them in a secure manner. We recommend that you attach the original checks to a copy of the daily report until you reconcile your monthly statement. Then securely store them until ready to be destroyed within the [60-90] day period. We have provided a simple log sheet which we suggest you use to track your storage and destruction of paper checks.


Q: What kind of checks can I scan?

A: You can scan any original check in US dollars drawn on banks/credit unions with a valid US routing number, including personal, corporate, government checks, cashier's checks, travelers' checks and money orders. You cannot scan photocopies or fax copies of original checks. Also, foreign checks that do not contain a US routing number will not scan.


Q: Do I need to endorse the check with my deposit stamp?

A: Yes; since the IRD contains the front and back of the original check, it should be properly endorsed.


Q: Do I need to prepare a deposit ticket?

A: No; the system will create a virtual deposit ticket for you, encoded with your account number and the total of your deposit.


Q: Is there a deadline for my deposits to be credited to me on the next Business day?

A: Currently, the cutoff for same day processing is 6:00 p.m. ET. Deposits made after 6:00 p.m. ET will post the next business day.


Q: How do I know if the bank received my deposit?

A: When your file has been received by the bank before our 6:00 p.m. ET cutoff time, you will see the batch status change from "submitted" to "deposited" on your reports screen. You will be able to see your deposit via the Business Online Banking system the following day.

Overdraft Protection FAQs

Q: What if I go beyond my Bounce Protection Limit?

A: Overdrafts above and beyond your established Bounce Protection limit may result in checks or other items being returned to the payee. The Return Item Fee of $35 will be charged per item and assessed to your account. An overdraft/NSF notice will be sent to notify you of items paid and/or returned.


Q: What does Bounce Protection cost?

A: There is no additional cost associated with this privilege unless you use it. You will be charged our Paid Item Fee of $35 for each overdrawn item created by a traditional paper based check, a teller withdrawal, an automatic payment (ACH) transaction, or a recurring debit card payment. Also, if you have requested us to do so, we may authorize and cover ATM transfers or withdrawals and everyday debit card purchases.

For example, three paid items in one day will result in $105 in Paid Item Fees. To help you manage your account, the total fees you have paid for items (both paid and returned) during the current month and for the year-to-date will be reflected on your monthly checking statement.


Q: What is my Bounce Protection limit? If I have two checking accounts, can I get Bounce Protection on both?

A: Locate your account type below and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.

  • Kasasa – $500
  • Personal Checking – $500
  • Money Market  – $1,000
  • Personal NOW – $1,000
  • Hope Select – $1,000


Q: How quickly must I repay my Bounce Protection?

A: You should make every attempt to bring your account to a positive end-of-day balance as soon as possible, and must do so within 30 calendar days. If you are not able to do so, you will receive a letter from First Hope Bank informing you that your Bounce Protection limit has been suspended and additional items will be returned. If your limit is suspended, unless we notify you otherwise or you request this service be removed from your account, your limit will be made available to cover overdrafts again the first business day after you bring your account to a positive end-of-day balance.


Q: What are some of the ways I can access my Bounce Protection Limit? Will my limit be reflected in the balance I receive?

A: The chart below shows the different ways you can access your Bounce Protection limit and indicates whether or not this limit will be reflected in the balance provided.


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Access Points Is my Bounce Protection
available?
Does the balance provided
reflect my Bounce Protection
limit?

Teller Yes No
Writing a Check Yes
n/a
Debit Card (recurring) Yes
n/a

Debit Card (everyday) No ** n/a
ATM Withdrawal No ** No
ACH - Auto Debit Yes n/a
Online Banking Yes No
Bill Pay Yes n/a
Telephone Banking Yes No

** Bounce Protection service will be made available for ATM or everyday debit card transactions upon your request.
Call (908) 459-4121 or stop by one of our branches to arrange for your ATM and debit card coverage.  


Q: What if I am having trouble repaying my Bounce Protection or use it frequently?

A: Please contact us at 908.459.4121 if you: (1) do not believe you will be able to bring your account to a positive end-of-day balance within the required time period; (2) find that you are using Bounce Protection more often than you intend; or (3) don't understand why your account becomes overdrawn. We would like to discuss your situation with you.

Following regulatory guidance, we will contact you if you are paying multiple overdraft fees (i.e. more than six fees in a rolling 12-month period), to discuss possible alternatives to Bounce Protection that may better meet your short term credit needs. In the event you ask us to stop contacting you because you have determined Bounce Protection is appropriate for your needs, we will honor your wishes. However, if we identify that the number and frequency of overdrafts increases materially for an extended period of time at some point after that, we may contact you again to ensure Bounce Protection is still the most appropriate option available to you for covering your short term credit needs.


Q: How do I know when I use the overdraft limit?

A: You will receive an overdraft notice each time items are paid, including fees. You will need to subtract the total fees when balancing your checkbook.


Q: How soon can I use my Bounce Protection?

A: If you are a new customer, you may be able to use the overdraft privilege service usually the first working day after your account is opened, assuming your account is in "good standing" as defined above.


Q: What are some other ways I can cover overdrafts at First Hope Bank?

A: The best way to avoid overdrafts and fees is to keep track of your account balance by entering all checks, debit card purchases and ATM withdrawals in your check register, reconcile your checkbook regularly and manage your finances responsibly. However, if a mistake occurs, First Hope Bank offers additional ways to cover overdrafts in addition to Bounce Protection. 


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Ways to Cover Overdrafts at First Hope Bank
Example of Associated Rates and Fees


Good account management $0

Link to a savings account $7 transfer fee

Overdraft line of credit 12.00% APR

Bounce Protection Paid Item Fee of $35 for each item

This information is effective as of July 5, 2017 and is provided as examples. The number of transfers allowed from a savings account each month may be limited and additional fees/consequences for exceeding this limit may apply. APR  =  Annual Percentage Rate. Subject to change. Please ask us about our current specific products, rates and fees. 



Q: What if I do not want to have Bounce Protection on my account?

A: If you would like to have this service removed from your account, please call (908)459-4121 or stop by one of our six convenient branch locations.

2017 Bank Holidays

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Holiday Date
New Year's Day - Observed Monday, January 2
Martin Luther King, Jr. Day Monday, January 16

Presidents' Day Monday, February 20

Bank Closed Saturday, May 27
Memorial Day Monday, May 29
Independence Day Tuesday, July 4
Bank Closed Saturday, September 2
Labor Day Monday, September 4

Columbus Day Monday, October 9

Veterans' Day Saturday, November 11

Thanksgiving Day Thursday, November 23
Bank Closed Saturday, December 23
Christmas Day Monday, December 25
New Year's Day Monday, January 1, 2018


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