Elizabethtown, Kentucky
651 W Dixie Ave
Elizabethtown, KY 42701
(270) 765-4072

Your Top 4 Banking Questions Answered December 6, 2017

Elizabethtown, Hardin
Your Top 4 Banking Questions Answered, Elizabethtown, Kentucky

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 However, there may be daily caps on how much cash can be withdrawn from an ATM.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?

bankingMost 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.

Other Announcements, Events and Deals from Magnolia Bank
A Local Bank Offers Debt Do’s & Don’ts, Elizabethtown, Kentucky
If you’re faced with a mountain of debt, you might feel stuck without any real options at your disposal. Fortunately, knowing what to do (and what not to do) is the first step toward...read more
3 Tips for Successfully Building a New Home, Elizabethtown, Kentucky
Building a new house is the perfect way to own the home of your dreams, allowing you to tailor your space to match your lifestyle and personal tastes. However, new construction is su...read more
Why Having Multiple Checking Accounts Is a Savvy Financial Move, Elizabethtown, Kentucky
One of the keys to long-term financial success is directing resources to each of your financial goals and keeping those funds separated. Otherwise, it becomes too easy to dip into yo...read more
What Buyers Should Know About FHA Mortgage Loans, Elizabethtown, Kentucky
If you dream of owning your own home, the difficulty of saving the down payment and qualifying for a mortgage loan may seem utterly impossible. Fortunately, the Federal Housing Autho...read more
The Importance of Online Banking, Elizabethtown, Kentucky
As the world transitions daily functions such as balancing their checkbooks and transferring money between accounts online, the importance of online banking increases. Consumers crav...read more