Meeting You Where You Are – Digital Tools and Guidance
At Merchants Bank, we believe in a holistic approach to financial education, that includes giving you access to services and products that you’ll find beneficial throughout your life and having the consultative conversations to go along with them. With Merchants Bank as your financial partner, you’ll be ready to tackle the financial needs you have now and make plans for the future.
Essential Banking Tools
You’re probably pretty familiar with using Online & Mobile Banking to keep tabs on your accounts, but there are a few additional tools inside Online & Mobile Banking that you may have missed. Check out how these tools can make managing your money easier.
Zelle®
Zelle is a convenient way to send money using your mobile banking app or online banking account.
Whether it’s saving you a trip to the ATM or taking out the guesswork of divvying up the lunch tab, Zelle is a fast, safe and easy way to send and request money. Funds are sent directly to the recipient’s account in a matter of minutes1, and all you need is the recipient’s email address or U.S. mobile phone number.
It’s simple to get started with Zelle, just sign-in to Online & Mobile Banking and follow a few simple steps to enroll with Zelle today.
Bill Pay
Sending payments is simple and free2. Just use our Payments option to set up a payee (like your vehicle insurance carrier) and then add information to send a payment.
Payments can be scheduled in advance and also to repeat, so you can make monthly payments a breeze. Consider using Payments for things like rent, utilities and other bills. Payments can be made from any Merchants Bank checking account within your Online & Mobile Banking.
Another great tool within Payments is e-Billing, which is when a payee offers the option to receive an electronic bill instead of a paper bill. When you add a payee, you will be able to see if that particular company offers e-billing and enroll. Once you’ve agreed to e-billing terms for the company, you’ll be notified of each e-bill and then have the ability to manually schedule a payment or set up an AutoPay to automatically make your payments on a certain date.
External Transfers
Move your money where and when you need to, even to accounts outside of Merchants. With an external transfer, you can add accounts you have at other financial institutions and then transfer to send money from Merchants Bank to those accounts.
External transfers are simple to set up and you can walk through the entire process in Online & Mobile Banking. You’ll need to login on a desktop computer and choose Transfers and then External Transfers to get started.
Mobile Deposit
Skip a trip to the bank next time you need to deposit a check and do everything through your phone. Once you’ve logged in to the Merchants Bank app3, snap a picture of your check, follow the steps to deposit it and go.
With mobile deposit, there’s no lines and no waiting. That means no matter where you are – on a road trip, watching a t-ball game or snowbirding in the winter – you can easily add money to your Merchants Bank accounts.
Financial Management that Benefits You
When it comes to securing your financial accounts or making smart decisions that help you achieve your financial hopes and dreams, Merchants Bank has your back. Below we’ll cover two financial tips to help you keep your cards safer and how determining your financial goals can set you up for success.
Merchants Bank N.A. Credit Card App
With this app, you can add controls and alerts to safeguard and customize how your Merchants Bank credit card can be used. With just a few taps you can:
- Turn your card(s) on or off.
- Automatically deny transactions based on location or type.
- Receive alerts about specific transactions or all transactions.
This app helps you level up your financial security and manage your cards right from your phone. Get peace of mind by downloading the apps, adding your cards and creating your custom settings.
Goals that Grow with You
By now you’re probably familiar with the concept of setting goals for different areas of your life, including your finances. You may feel like setting financial goals sounds overwhelming or something that only applies when larger dollar amounts are involved, like buying a home or retiring. While goals around those stages of life are important, it’s equally important to consider the smaller financial steps in between.
With Merchants Bank, we aim to meet you where you are, right now, in your current financial situation. Everyone has to start somewhere, so why not start by talking to your banker about your next goal today.
So, what are some manageable goals to set? Let’s review some common goals, big and small, to consider during different life stages:
0-18 Years Old
- Opening your first savings and checking accounts to learn money management basics.
- Keeping your account balances at a certain dollar amount and never below $0.
- Saving for an important purchase. For example, a bike, video game console, phone or vehicle.
In Your 20s
- Opening your first retirement savings vehicle, like an IRA.
- Opening your first credit card to help you understand and build credit.
- Paying off any purchases on your credit card off each month.
- Choosing a long-term financial advisor to help you start planning for the future.
- Paying off student loan debt by a specific age.
- Starting an emergency fund savings account to prepare for the unexpected. You could set a specific dollar amount goal based on your average expenses over 6-12 months.
- Creating healthy money habits to help you use your money wisely.
In Your 30 & 40s
- Saving for a house down payment.
- Buying or building a home.
- Buying a new vehicle, boat, etc.
- Maintaining the amount saved in your emergency fund.
- Paying for additional monthly expenses like a cleaner, meal delivery service or extra gas for kids’ commitments (carpooling, sports, etc.).
- Continuing healthy money habits to help you use your money wisely.
- Increasing the amount you contribute to your retirement account(s) by a certain amount each year.
- Understanding how a divorce impacts your finances.
In Your 50s & 60s
- Downsizing to a smaller home.
- Buying a second home or vacation home.
- Saving for personal or family travel.
- Paying for supplemental health insurance before retirement.
- Putting the proper accounts in place to leave money to your future generations.
- Using retirement dollars wisely.
70 Years and Older
- Making the most of tax advantages that benefit your finances.4
- Downsizing to a smaller home, senior living house or retirement community.
- Affording your annual three-month snowbird trip.
- Gifting money to your family members.
- Living within the means of what you have saved for retirement.
Do any of the above goals resonate with you? Which goals are you interested in pursuing now? While these goals are listed in categories of different ages, they can apply to you at any time and be something you work on over several years. That’s why it’s important to find a financial partner you can trust and feel comfortable talking to. We believe that your banker is there to be a financial consultant. It’s his or her job to help you prioritize your goals, review your current financial picture and suggest steps to put in place to achieve your financial dreams.
It doesn’t matter if you’re just starting out or looking to enhance your financial management later in life, our team is here to guide you with practical solutions that put you on the path to success. That’s what it’s like to work with a community bank.
- Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle.
- 20 free bill payments per month.
- Merchants Mobile Banking is free; however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.
- Consult your tax advisor.