Every day, banks across the world move money in and out of accounts. For the average customer, having a reliable banking relationship is important for making withdrawals, paying bills, and conducting transactions on the go. Finding a financial institution that can deliver these features and more starts with asking some important questions. Magnolia Bank in Hodgenville, KY shares some of the most common ones asked.
4 Popular Banking Questions
What Happens If I Withdraw Too Much Cash?
Depending on the type of checking account, some banks allow customers to make unlimited withdrawals. However, there may be daily caps on how much cash can be withdrawn from an ATM. If a customer tries to get funds from an account that doesn't have enough to cover a check, they may be charged an insufficient funds fee. To avoid this penalty, most banks offer overdraft protection, which will deposit enough funds from another account to cover the check.
How Does Mobile Banking Work?
Most banks offer a mobile app that customers can install on their phones. Many transactions can be done, such as depositing checks, paying bills, transferring funds, and checking withdrawals. Online banking works the same way, but instead of a mobile phone, customers can use their laptops.
Is My Cash Protected From Theft?
If a bank is insured by the Federal Deposit Insurance Corporation, the financial institution is liable for customers' funds should some type of theft or improper activity occur. The insurance covers all types of banking accounts, including checking and savings.
Can I Use Any Bank's ATMs To Make Withdrawals?
Banks typically have a network of ATMs available for their customers to use for free. However, there are some banks that may charge customers a fee if they use an ATM that isn't in their network. Generally, customers can use any bank's ATM, but it might cost them to do so.
With the latest online and mobile banking services, Magnolia Bank is your trusted partner for all of your financial needs. To learn more about the wide range of available products and services, visit the bank's website today. Should you have questions about a particular account, call (270) 358-3183 and a friendly representative will gladly assist you.