Peapack-Gladstone Bank
FAQs


Banking

Q: Are my deposit accounts FDIC insured?
A: On July 21, 2010, President Barack Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which, in part, permanently raises the current standard maximum deposit insurance amount to $250,000.  The standard maximum insurance amount of $100,000 had been temporarily raised to $250,000 until December 31, 2013.  The FDIC coverage limit applies per depositor, per insured depository institution for each account ownership category.


Q: How do I set up Direct Deposit of my payroll check?
A: If your employer participates in a direct deposit program, simply provide our Bank routing and transit number and your account number to the Human Resources or Payroll department at your company, and your direct deposit will usually begin within thirty days.

Q: How do I set up Direct Deposit of my Social Security check?
A: Simply contact us to set-up your direct deposit right over the phone. Please have your Social Security Number and account information available.

Q: Can I get information about my account by phone?
A: Yes! Account information is available through Access24 Phone Banking. Just use a touch-tone phone to call Access24 and follow the simple instructions to quickly and easily: check account balances, check CD and loan rates, inquire about loan balances and payments, transfer funds between accounts, verify interest paid and earned, verify if a check has cleared and more. Call the Access24 Phone Banking System today:


(908) 719-2265 (if calling locally)
(800) 742-7595 (out of the area)

 

Q: What products can I apply for online?
A: We have a variety of personal deposit accounts that you can apply for online. Open an Account

Q: Can I open an account if I don't live in the United States? What if I live in the United States but I am not a citizen yet?
A: At this time, we only accept applications from persons residing within the United States with valid U.S. tax identification numbers (Social Security Numbers). If you have questions, please contact us.

Q: Can I do all of my banking with you?
A: Absolutely! And with online banking, Direct Deposit and ATMs, everyday banking activities can be performed when it's convenient for you.

Q: Can I look at all of my transactions at any time?
A: Yes! PGB NetAccess Online Banking gives you access to your account information 24 hours a day, 7 days a week!  You can even do your banking when you're on the go!  Sign-up for Mobile Banking through PGB NetAccess to quickly and conveniently set-up alerts, review accounts, transfer funds or pay bills all using your cell phone!  With Mobile Banking you can use Small Message Service (SMS) to send us a text message to request information about your account and you'll get a text reply.  And, with newly enhanced PGB NetAccess alert capabilities you can even set-up email notifications that will reach you quickly and easily.  If you have a smartphone with email capabilities this is a great way to monitor your banking while you're literally on the go!

Q: How frequently is my information updated?
A: Your account information is updated every business day with new transactions that posted to your account the previous business day.

Q: Are wire transfers possible to and from my checking, money market and savings accounts?
A: Yes! Funds can be transferred to and from accounts by wire transfer or via ACH (Automated Clearing House) debits or credits. Contact us for more information.

Q: How do I make a deposit to my account from a remote location?
A: Most deposits can be made by using Direct Deposit, ATMs or ACH (Automated Clearing House) transactions. We also offer a bank-by-mail service, which allows you to mail non-recurring deposits. Contact us for details on a method that's best for you.

Q: What happens if I lose my Visa Debit/Check Card or ATM card?
A:
 If your Visa Debit/Check Card or ATM card is lost or stolen, you should immediately contact Peapack-Gladstone Bank at (908) 234-0700 or after hours call (866) 546-8273.


Q: What happens if my Visa Debit/Check Card or ATM card is blocked while I am traveling?
A: If your Visa Debit/Check Card or ATM card is blocked for any reason, you should immediately contact Peapack-Gladstone Bank at (908) 234-0700 or after hours call Prism Fraud Monitoring, a service of Peapack-Gladstone Bank, at (800) 411-8498 (Domestic) or (206) 352-3516 (International).
 

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Cash Back Checking

Q. Is it true, I can get up to $10.00 in ATM domestic fees rebated each monthly qualification cycle?
A. Yes, it’s true, you can get all domestic ATM surcharges rebated up to $10.00 per monthly statement cycle, provided you meet the qualifications for Cash Back Checking.

Q. What are the statement cycle qualifications that must be met to qualify for Cash Back Checking rewards?
A. The qualifications are simple:

  • Conduct 15 Point-of-Sale (POS) purchases using a PGB Debit Card
  • Get an E-Statement instead of a mailed printed statement
  • Make 1 electronic deposit using the PGB Mobile App, an ATM or through an Automated Clearing House (ACH)
     

Q. What will I earn if I meet these qualifications during a monthly qualification cycle?
A. You will earn 2.00% Cash Back on debit card purchases up to $400.00 that post and settle (maximum reward $8.00) and domestic ATM fee rebates up to $10.00.


Q.
How often must the qualifications be met to qualify for Cash Back Checking rewards?
A. Each monthly statement qualification cycle.


Q.
What happens if I fail to meet the qualifications during a statement cycle?
A. If you fail to meet the minimum qualifications of Cash Back Checking, fear not, you can try to qualify in the next statement cycle. Your ATM surcharge fees will NOT be rebated. Nor will you earn the cash back rewards. If however, you meet the qualifications during the following statement cycle or in subsequent statement cycles, your account will revert back to earning these rewards. Each statement cycle is a new start!


Q.
I see that the PGB Mobile App and E-Statements are required, is there a charge for these services?
A. No, all of these services are absolutely free.


Q.
Fifteen (15) point-of-sale purchases seems a bit high. How can I make this many transactions each monthly qualification cycle?
A. Point-of-sale purchases are far easier than you think. Here are some ways to help ensure you complete 15 purchases per monthly qualification cycle.

  • Most people fill up their gas tank at LEAST four times per month.
  • The average person makes grocery purchases at LEAST four times a month.
  • Fast food chains even accept point-of-sale purchases, as well as basically every major retailer that accepts Visa® and MasterCard.


You’ll likely make 15 POS purchases a lot more quickly than you thought possible!

Q. Is there a minimum dollar amount for each point-of-sale purchase?
A. No, you just have to make 15 point-of-sale purchases during each monthly qualification cycle. Each point-of-sale purchase must be posted and settled in your account.


Q.
Do ATM withdrawals count toward my point-of-sale purchases?
A. No, they do not. These are withdrawals, not purchases.


Q.
What happens if I’m short by one POS transaction, can you make an exception for me?
A. Unfortunately, Cash Back Checking is governed very strictly and is entirely automated. This means that there are ABSOLUTELY NO EXCEPTIONS from statement cycle to statement cycle. If you meet the qualifications, you earn the rewards as described above.


Q.
If I do not want a debit card, can I still open a Cash Back Checking Account?
A. It is possible, but you will not qualify for any rewards/rebates as you need to use a PGB debit card in order to meet the requirements.


Q.
Do point-of-sale purchases that are returned still count toward my rewards qualifications?
A. No. Returned POS credits do not count towards your rewards qualifications.


Q.
Are these deposits insured?
A. The FDIC insures each depositor at Peapack-Gladstone Bank up to $250,000.00 for each ownership category.


Q.
Can I open one of these accounts for my business?
A. No, the Cash Back Checking account is for consumer checking accounts only.


Q.
If I want a paper statement in addition to my E-Statement, can I obtain one?
A. Yes, but at the same fee you would incur for a duplicate statement. Since you receive an E-Statement, any paper statements are considered duplicates. However, you may print a copy of your statement from your personal computer at any time without incurring a fee.


Q.
How much must I deposit to open my Cash Back Checking Account?
A. You must open your Cash Back Checking Account with at least $100.00.


Q.
Is there a monthly balance service charge for Cash Back Checking?
A. No, there is never a monthly balance service charge for Cash Back Checking. It is always free from a monthly balance service charge.


Q.
If I meet the qualifications for Cash Back Checking, when will I receive the rewards and rebate?
A. The rewards and rebate will post to your account on the last day of the monthly statement cycle.


Q.
Do I have to do anything in order to get my ATM surcharge rebate?
A. No, earned rebates are posted automatically to your account, provided you meet the qualifications during the monthly qualification cycle.


Q.
How will I know if I have qualified for my Cash Back Checking rewards each month?
A. A message will appear on each statement to let you know. In between statements,

  • You can view all transactions within PGB NetAccess online banking
  • You can view all transactions on the PGB Mobile App

     

Q. Are ATM surcharges rebated on ATMs used internationally?
A. No, ATM surcharges are only rebated on ATMs located in the U.S. (domestic ATMs).


Q.
If I fail to meet the qualifications during a monthly qualification cycle, will I still have a chance to qualify in subsequent monthly qualification cycles?
A. Yes, all qualifications start over at the beginning of each monthly qualification cycles.


Q.
Does an online bill payment count as a POS debit?
A. No, it does not. Your PGB debit card must be used for a POS purchase transaction to count toward the 15 count minimum.


Q.
What if my new debit card does not arrive until late in the monthly qualification cycle and I do not have enough time to earn my rewards, will I still get them?
A. New accounts will automatically receive rewards for the first monthly qualification cycle. This will give you time to get your debit card and start using it to earn your rewards for the second monthly qualification cycle. Converted accounts will receive rewards from the conversion date.


Q.
What is the statement cycle for Cash Back Checking?
A. Cash Back Checking statements will cycle on the 20th day of each month. If the 20th day is a non-business day (Saturday or Sunday) or holiday, the statement will cycle the business day prior.


Q.
May I “carry forward” POS debit card purchases in excess of the required minimum number to the next statement cycle?
A. No, Cash Back Checking rewards qualifications start over at the beginning of each monthly qualification period. No exceptions.


Q.
What if I need a printed copy of my statement and/or check image?
A. Your statement and check images can be printed using or via your personal computer printer or any printer that you have access to through PGB NetAccess Online Banking within the E-Statements area.


Q.
Is there a limit to the amount of money I can keep in this account?
A. No, there is no minimum or maximum dollar amount.

Q.
How can I convert my current checking account to Cash Back Checking?
A. Simply contact any branch representative or the Client Contact Center at (908) 234-0700, and they will be happy to convert your account quickly. You can continue to use your existing account number, checks and debit card.


Q.
Is there a transaction limit on Cash Back Checking?
A. No, there are no transaction limitations whatsoever.


Q.
Do I get free paper checks with Cash Back Checking?
A. No, standard check prices apply.


Q.
When must all of my monthly qualifications be satisfied?
A. All qualifications MUST take place, post and settle by the end of Peapack-Gladstone Bank’s last business day within each monthly qualification cycle.


Q.
Can a client have both Rate Reward Checking and Cash Back Checking?
A. Yes! Clients may have one type of each account per tax identification.


Q.
Can a client have two Cash Back Checking Accounts?
A. No. A client may only have one Cash Back Checking Account per primary Social Security Number.


Q.
What happens if I already have a checking account with PGB but my direct deposit goes into my savings account?
A. You will need to contact your Payroll or Social Security department and switch the account on your direct deposit to your new Cash Back Checking account. Our system will only recognize direct deposits to the Cash Back Checking account as deposits that satisfy the minimum qualifications.
 

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Rate Reward Checking

Q. Is it true I can get all ATM surcharges ANYWHERE, absolutely free each monthly qualification cycle?
A. Domestic ATM surcharges will be rebated each monthly statement cycle provided you meet the minimum qualifications.


Q.
Will I really earn interest on my checking account during every monthly qualification cycle with no minimum balance required?
A. Yes. There is no minimum balance requirement. You will earn 2.02% Annual Percentage Yield, for balances up to $15,000.00 and 0.15% APY on any remaining balance over $15,000.00 when you meet the monthly statement cycle qualifications. Otherwise, your entire balance will earn an APY of 0.01%.


Q.
To be clear, what are the exact “rewards” on a Rate Reward Checking account if the monthly cycle qualifications are met?
A. Here are the rewards:

  • 2.02% APY for balances up to $15,000.00
  • 0.15% APY on the remaining balance over $15,000.00
  • Unlimited domestic ATM rebates


Q.
What are the monthly statement cycle qualifications that must be met to qualify for Rate Reward Checking rewards?
A. The qualifications are simple:

  • Receive direct deposits that total $250.00 or more
  • Receive an E-Statement
  • Conduct 10 point-of-sale purchases using a Peapack-Gladstone Bank Debit Card. These transactions must post and clear within the statement cycle


Q.
How often must the qualifications be met for Rate Reward Checking rewards?
A. Each monthly statement qualification cycle.


Q.
What happens if I fail to meet the monthly statement cycle qualifications?
A. If you fail to meet the Rate Reward Checking qualifications, fear not, your account will still earn interest. While it is true that the APY you will earn is lower, 0.01% APY, your entire balance will earn this APY. Any ATM surcharge fees will not be refunded. If you meet the qualifications the following monthly qualification cycle, or in subsequent monthly qualification cycles, your account will revert back to earning the highest APY possible for daily balances up to $15,000.00. Each monthly qualification cycle is viewed as an entirely separate and new cycle.


Q.
I see that Online Banking and E-Statements are required, is there a charge for these services?
A. No, both of these services are absolutely free.


Q.
What do you mean by a direct deposit or Automated Clearing House (ACH) is required each monthly qualification cycle?
A. The Rate Reward Checking account requires that a regular direct deposit, such as your payroll, social security or other recurring deposit, post and clear the account each monthly qualification cycle. If you do not receive a direct deposit of your pay right now, it is easy to enroll, just ask your employer. If all of your funds are deposited via paper checks, you have the option of allowing an ACH credit to post and clear your account to satisfy the requirement.


Q.
Ten (10) point-of-sale purchases seems a bit high. How can I make this many transactions each monthly qualification cycle?
A. Point-of-sale purchases are far easier than you think. Here are some ways to help ensure you complete 10 POS purchases per month.

  • Most people fill up their gas tank at LEAST four times per month.
  • The average person makes grocery purchases at LEAST four times a month.
  • Fast food chains even accept point-of-sale purchases, as well as basically every major retailer that accepts Visa® and MasterCard.

You’ll likely make 10 POS purchases a lot more quickly than you thought possible!


Q.
Is there a minimum dollar amount for each point-of-sale purchase?
A. No, you just have to have 10 point-of-sale purchases that post and clear your account each monthly qualification cycle.


Q.
Do ATM withdrawals count toward my point-of-sale purchases?
A. No, they do not. These are withdrawals, not purchases.


Q.
Do point-of-sale purchases that are returned still count toward my rewards qualifications?
A. No. Returned POS credits do not count towards your rewards qualifications.


Q.
What happens if I am short by one POS purchase, can you make an exception for me?
A. Unfortunately, Rate Reward Checking is governed very strictly and is entirely automated. This means that there are ABSOLUTELY NO EXCEPTIONS from month-to-month. If you meet the qualifications, you earn the higher APY(s). If you do not, you earn the lowest APY. We place an extremely high value on all of our clients’ opinions, but with an APY this great, we are simply unable to make exceptions to the stringent rules of this account.


Q.
If I do not want a debit card, can I still open a Rate Reward Checking Account and earn the lower rate of interest?
A. It is possible, but you will not qualify for any rewards/rebates as you need to use a PGB debit card in order to meet the requirements.


Q.
Can I open one of these accounts for my business?
A. No, the Rate Reward Checking account is for consumer checking accounts only.


Q.
Are these accounts insured?
A. The FDIC insures each depositor at Peapack-Gladstone Bank up to $250,000.00 for each account ownership category.


Q.
If I want a paper statement in addition to my E-Statement, can I obtain one?
A. Yes, but at the same fee you would incur for a duplicate statement. Since you receive an E-Statement, any paper statements are considered duplicates. However, you may print a copy of your statement from your personal computer at any time without incurring a fee.


Q.
Can I open multiple Rate Reward Checking accounts?
A. No, the Rate Reward Checking Account is limited to one account per primary Social Security Number on the account.


Q.
Is this interest rate guaranteed or will it change?
A. The interest rate itself is not guaranteed, but a great interest rate is. PGB will make every effort to offer this great rate as long as we can, but market conditions can change our ability to offer such a rate in the future. Conversely, the market could allow us to offer an even better rate in the future. Either way, we are committed to pricing this checking relationship account to be incredibly competitive in the marketplace and, provided you meet the qualifications during the monthly qualification cycle, you can rest assured that you will be earning a great rate!


Q.
Is there a balance service charge for Rate Reward Checking?
A. No, there is never a balance service charge for Rate Reward Checking. It is always free from a monthly service charge.


Q.
Is this just a “teaser” rate?
A. No, all customers with this account will receive the stated APY provided they meet the account qualifications.


Q.
How is the interest calculated?
A. The interest rate is calculated using the daily balance method and is compounded and paid monthly on the last day of the monthly statement qualification cycle.

Q.
If I meet the qualifications, when will I receive my Rate Reward Checking rewards?
A. On the last day of your statement cycle.


Q.
Do I have to do anything in order to get my ATM surcharge rebate?
A. No, earned rebates are posted automatically to your account at the end of your monthly qualification cycle, provided the qualifications were met.


Q.
How will I know if I have qualified for my Rate Reward Checking rewards?
A. A message will appear on each statement to let you know. In between statements:

  • You can view all transactions within PGB NetAccess online banking
  • You can view all transactions on the PGB Mobile App


Q.
Will I receive a 1099 at year-end reflecting the interest earned on my Rate Reward Checking account over the course of year?
A. Yes, provided the interest earned on the account is $10 or greater.


Q.
Are ATM surcharges rebated on ATMs used internationally?
A. No, ATM surcharges are only rebated on ATMs located in the U.S. (domestic ATMs).


Q.
If I fail to meet the qualifications during a monthly qualification cycle, will I still have a chance to qualify in subsequent monthly qualification cycles?
A. Yes, all qualifications start over at the beginning of each monthly qualification cycle.


Q.
What if my new debit card does not arrive until late in the monthly qualification cycle and I do not have enough time to earn my rewards, will I still get them?
A. New accounts will automatically receive rewards for the first monthly qualification cycle. This will give you time to get your debit card and start using it to earn your rewards for the second monthly qualification cycle. Converted accounts will receive rewards from the conversion date.


Q.
Does an online bill payment count as an ACH debit?
A. No, it does not. Your PGB debit card must be used for a POS purchase transaction to count toward the 10 count minimum.


Q.
What is the statement cycle for Rate Reward Checking?
A. Rate Reward Checking statements will cycle on the 10th day of each month. If the 10th day is a non-business day (Saturday or Sunday) or holiday, the statement will cycle the business day prior.


Q.
Must I receive my E-Statement on-line in order to qualify for the rewards?
A. Yes, this will be your new method of receiving your statements; paper copies will no longer be mailed to you. E-Statements are more secure than paper statements and you can print them from your personal computer if necessary.


Q.
What if I need a printed copy of my statement and/or check image?
A. Your statement and check images can be printed using or via your personal computer printer or any printer that you have access to through PGB NetAccess Online Banking within the E-Statements area.


Q.
Is there a limit to the amount of money I can keep in this account?
A. No, there is no minimum or maximum dollar amount (however balances over $15,000.00 in accounts that meet the qualifications will earn a lower APY).


Q.
Is there a minimum balance I need to maintain in order to receive my Rate Reward Checking rewards?
A. No. However, the more you keep in the account, the greater the sum of the interest will be throughout the year, provided you meet the qualifications.


Q.
What is the minimum balance required to open a Rate Reward Checking account?
A. The minimum balance required to open the account is $100.00.


Q.
Is Overdraft Protection available for Rate Reward Checking accounts?
A. Yes, please ask a branch associate about overdraft protection options.


Q.
Will I be able to use my existing debit card, checks and account numbers if I convert my current account to Rate Reward Checking?
A. Yes, you can continue to use your existing account items. None of your account numbers will change as a result of this new account.


Q.
How can I convert my current checking account to Rate Reward Checking?
A. Simply contact any branch representative or the Client Contact Center at (908) 234-0700, and they will be happy to convert your account in an expeditious manner.


Q.
Is there a transaction limit on Rate Reward Checking?
A. No, there are no transaction limitations whatsoever.


Q.
Do I get free paper checks with Rate Reward Checking?
A. No, standard check prices apply.


Q.
When must all of my qualifications be satisfied?
A. All qualifications MUST take place, post and settle by the end of Peapack Gladstone Bank’s last business day within each monthly qualification cycle.


Q.
What happens if I already have a checking account with PGB but my direct deposit goes into my savings account?
A. You will need to contact your Payroll or Social Security department and switch the account on your direct deposit to your new Rate Reward Checking account. Our system will only recognize direct deposits to the Rate Reward Checking account as deposits that satisfy the minimum qualifications.
  

 


Check Images

Q: What are check images?
A: Check images are pictures of your canceled checks. Each canceled check is scanned, and the digital image is stored in our computer system.  Check images are then printed clearly in numerical order and included with your monthly consumer account statement.  Effective February 1, 2014, for consumer accounts, we will no longer print and include check images with your monthly statements.  Images of canceled checks are available online for 18-months within PGB NetAccess Online Banking.  You can view or print these check images at any time.

Q: Why is Peapack-Gladstone Bank discontinuing providing check images through monthly consumer statements?
A: Check images provide consumer clients with the benefit of simplified record-keeping and reduced storage requirements for canceled checks.  However, printing check images and providing them through monthly consumer statements can also pose a potential security risk to client privacy should fraudsters get a hold of your mail.  In an effort to help you protect your privacy and secure your financial information, we are eliminating check imaging as a part of monthly consumer statements and are encouraging all clients to sign-up for online banking where check images can be viewed quickly and easily any time.
 

Q: Can I see my check images online?
A: Yes, your check images are available online using PGB NetAccess Online Banking. With online banking, you can view images of the front and back of your canceled checks in real time while reducing the threat of mail fraud or identity theft.

 

Q: What if I need check images beyond 18-months?
A: Peapack-Gladstone Bank keeps digital images of cancelled checks for 7 years so you can easily request check images by calling the Client Contact Center or visiting one of our conveniently located branches if necessary however, we encourage you to sign-up for PGB NetAccess online banking where you can view check images within the account activity feature and keep total control of your privacy and security.

 


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Internet Banking and Bill Pay            View Demo!

Q: When do I have access to use Internet Banking?
A: Online Banking gives you access to your account information 24 hours a day, 7 days a week!

Q: Will I be able to use Bill Pay with any of my PGB accounts?
A: No. Bill Pay can only be used with a checking account.

Q: How do I enroll?
A: PGB NetAccess Internet Banking allows you to bank when you want, where you want. To get started simply click here.  Business clients can complete our PGB NetAccess Business Application.

Q: When can I start using Bill Pay?
A: Within 72 hours your account will be open and ready for you to use.

Q: Is there a fee for Bill Pay?
A: No! It's Free!

Q: What bills can I pay through Bill Pay?
A: You can use Bill Pay to pay practically anything - charge accounts, utilities, auto loans, even your doctor or day-care center.

Q: How many days does it take for a payment to reach the payee?
A: Since payment processing can take three to five working days, the safest thing is to always schedule your payments at least five working days before the due date.

Q: Can anyone else see my accounts over the Internet?
A: Peapack-Gladstone Bank uses the latest technology to keep your account information secure and we have extremely high criteria to guarantee the security of your banking information online. Security features exist at every level-from your PC, to the Internet, and over our secure network. For your peace of mind, PGB NetAccess uses 128-bit encryption, firewalls, remote servers and other techniques to ensure the security and confidentiality of your personal information. A few of these are listed below:

  • Your banking information never travels the Internet without encryption protection.
  • Login sessions have a time-out limit and after the limit is reached you are required to login again.
  • PIN guessing is deterred and reported.
  • Multifactor Authentication added in December 2006.


Internet security is an ongoing task. We are constantly developing and implementing security enhancements to ensure the integrity of our Internet Banking system.

Q: What if I have a question about Bill Pay or NetAccess?
A: Peapack-Gladstone Bank is committed to personal service. If you have any questions, call the Client Contact Center at (908) 234-0700.

Q: What happens if I forget my Password?
A: If you forget your Password, contact the Client Contact Center at (908) 234-0700.  What about after hours?  Now you can reset your online banking password on your own with our new Password Reset feature!  Enable Password Reset today by logging into PGB NetAccess and selecting the Options button, then select Personal.  Enter your email address and complete the password reset question and answer section.  Once you've done this you'll be able to reset your password on your own anytime directly from the PGB NetAccess login page.   Look for the Reset Password button and click through for easy to follow instructions.

Q: What is Mobile Banking?
A: Very simply, Mobile Banking is the ability to do your banking through your cell phone.  You must be enrolled in our online banking product, PGB NetAccess, and have a cell phone with internet capabilities.  Mobile Banking is FREE however you should contact your cell phone provider to find out what their charges are for web-enabled wireless capabilities and text messaging.  You should also verify if your cell phone provider allows secure SSL Traffic.  SSL stands for Secure Sockets Layer.  SSL technology is utilized to safeguard the transfer of confidential user information. SSL creates a secure connection and gives all parties the confidence that information is being sent securely and to the right place.
  
Q: How do I activate Mobile Banking?
A: You must already be set-up as a PGB NetAccess online banking customer with Peapack-Gladstone Bank.  If you are not a current Peapack-Gladstone Bank NetAccess user, stop at any of our conveniently located branches  to apply.  If you are a PGB NetAccess user simply log into online banking as you normally would to do your banking via your computer.

  • Select Options
  • Select Mobile Settings
  • Check Activating Mobile Banking Access
  • Select the  Accounts you want to access
  • Fill in your Cell Phone Number and your Wireless Provider
  • Review the Mobile Banking Agreement and click I Agree


A few minutes later you will receive a SMS Text Message on your cell phone confirming your enrollment to our Mobile Banking product.  You will also receive the URL to access your accounts through Mobile Banking.  Now you are ready to start using your cell phone to view accounts, transfer funds and pay bills. 

Q:
Which cell phone providers can be used with PGB Mobile Banking?
A: PGB Mobile Banking can be used with the following providers:

  • Alltel
  • AT&T
  • Cellular One
  • Cingular
  • Nextel
  • Sprint PCS
  • T-Mobile USA
  • Verizon
  • Virgin Mobile

Q:
Do you offer a Mobile App for smartphones?  Is it free?
A: Yes! And, yes!  Peapack-Gladstone Bank now offers PGB Mobile, a free Mobile Banking App specifically designed for the iPhone® and AndroidTM devices. Bank when you want, where you want more easily than ever.  Check balances, transfer funds, pay bills, use account alerts and even make deposits all using your smartphone.

Q: Do I have to have PGB NetAccess Internet Banking in order to use a Mobile App?
A: Yes.  You must be a PGB NetAccess Internet Banking user in order to properly download and use our iPhone and Android Mobile Banking App.  If you are already using PGB NetAccess simply log in, select Options and Mobile settings, then complete or verify your smartphone information.  Select the accounts you'd like to view on your smartphone, hit submit, then make your way to the Apple iTunes® App StoreTM or the Android Market to quickly download our Mobile App.
 
Not a PGB NetAccess Internet Banking user?  Contact us today to find out how you can easily begin banking online and on your mobile phone.

Q: How do I download the PGB Mobile Banking iPhone or Android App?
A: You can quickly download our App directly from the Apple iTunes App Store or the Android Market.  


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PGB FDIC Liquidity Sweep

Q: How does the sweep service work?
A: Peapack-Gladstone Bank participates in a program (administered by Reich & Tang) where client deposits in excess of the $250,000 FDIC insurance limit per account registration, are automatically allocated to other FDIC insured accounts held at other banks in the program. This unique technology provides millions of dollars in FDIC insurance while having access to the entire balance on a daily basis.

Example: A client of Peapack-Gladstone Bank opens an account and sets up the PGB FDIC Liquidity Sweep with an initial deposit of $1,000,000:

  • First $250,000 may be allocated to Peapack-Gladstone Bank or another bank in the network
  • Next $250,000 is allocated to another bank in the network
  • Next $250,000 is allocated to a third bank in the network
  • Next $250,000 is allocated to a fourth bank in the network


Any amount greater than the $1 million—due to interest earned or deposits made into the account—will automatically be allocated to the next bank in the program to ensure that the balance is fully FDIC insured. Regardless of how many banks are utilized, funds are available on a daily basis via check, wire, EFT, debit card, etc.
 

Q: How is interest calculated?
A: Interest is accrued daily and paid monthly using a standard simple interest calculation:
 

((Principle X (Rate/365)) X Number of Days in Period)
 

Q: Who pays the interest?
A: Interest is paid by Peapack-Gladstone Bank. A 1099 is sent from Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, New Jersey, 07921.
 

Q: How is interest posted?
A: Interest is posted on the last day of the month and is reinvested in program.
 

Q: What happens if one of the participating banks fails?
A: If a successor bank is named, there is no immediate need for action since the bank will continue to function normally.

If a successor bank is not named:

  • Reich & Tang Proof & Control will ensure balance and MTD interest has been reconciled.
  • Reich & Tang creates FDIC Claim data file and associated paperwork.
  • Upon receipt of money from the FDIC (usually 48 hours) – post funds to Peapack-Gladstone Bank Accounts and re-allocate among remaining program banks.


Q:
What happens if Peapack-Gladstone Bank fails?
A: If a successor bank is named, there is no immediate need for action since the bank will continue to function normally.

If a successor bank is not named:

  • Reich & Tang Proof & Control will ensure balance and MTD interest has been reconciled.
  • Reich & Tang creates FDIC Claim data file and associated paperwork.
  • Upon receipt of money from the FDIC (usually 48 hours) – post funds to Peapack-Gladstone Bank Accounts.
  • Funds placed at other program banks are still insured and liquid.
  • If program is terminated, all funds returned to account holder from participating banks.


Q:
Have you experienced a bank failure within the program?

A: Reich & Tang has not experienced a bank failure within the FDIC Sweep program.
 

Q: How are banks vetted in the program?
A: Banks that are deposit taking banks within the program are only considered if they are categorized as ‘well capitalized’ by the FDIC and have no outstanding enforcement actions such as cease and desist orders, particularly as it relates to capital structure.  Status is evaluated quarterly.
 

Q: How do we know where our money is?
A: Total balance levels may be accessed daily on Peapack-Gladstone Bank’s web based service, PGB NetAccess. Monthly statements provide detail - the name of each bank and the corresponding balance at each bank. Details of deposit placement amongst program banks may be accessed during the month via Reich & Tang’s online system, Deposit View.
 

Q: Are there any restrictions or delays to access funds?
A: The system provides daily liquidity. Funds may be accessed on any banking day without penalty. All transactions (checks/wires/EFTs/deposits) flow through the checking account as usual.  Funds are automatically transferred to and from the sweep account as needed (see diagram).
 

Q: How long has R&T been in the business? Offering this program?
A: Reich & Tang has been in business since 1970. The firm is the third longest running money market mutual fund adviser in the world, having started its first money fund in 1974. The FDIC Sweep Service has been available to banks since 2009.


Q:
What if I already have funds in one or more of the banks in the program?
A: A current list of participating banks is provided at account setup. An account holder may ‘opt out’ of banks on the list to avoid exceeding the FDIC Insurance limit of $250,000 per institution/tax ID.


Q:
If we deposit up to the program maximum, is interest posted still insured?

A: Maximum insurance limits are set to allow a cushion for ‘opting out’ of several banks as well as interest posting. Should the balance approach a critical level, the account holder is notified of the potential insurance cap and may choose to leave funds in the program or remove excess funds.
 

Mortgage

Q: What are the benefits of an Adjustable-Rate Mortgage (ARM)?
A: An ARM usually has a low introductory rate that stays fixed for an initial interest rate period, which ranges from 1 to 7 years. Then the rate will adjust up or down annually for the life of the loan based on a specified index. Some popular indexes used by mortgage lenders include the One Year T-Bill that adjusts weekly or the London Interbank Offered Rate (LIBOR) that adjusts daily, so it reacts more quickly to changes in the financial markets. An ARM is a good option if you believe interest rates will go down over the next few years or if you plan on staying in your home 5 to 7 years or less.

Q: What are the benefits of a 15-year mortgage?
A: A 15-year mortgage allows you to own your home in half the time of a conventional 30-Year mortgage. Although payments are higher with a 15-year mortgage, you'll save thousands of dollars in interest and build equity faster.

Q: What is "Amortization"?
A: Amortization is the repayment of principal from scheduled mortgage payments that exceed the amount of interest due. The scheduled monthly payment less the interest amount equals the amortization (repayment) amount. For example, a 30-year mortgage includes an amortization –monthly repayment of principal – that will pay off the loan in 30 years. Some borrowers choose to pay extra principal payments to pay off their mortgages before the end of the loan term. As the mortgage principal balance is paid down, each monthly payment will include smaller amounts of interest paid monthly and larger amounts of repayments towards the principal balance.

Q: What is "Negative Amortization"?
A: Negative Amortization is the payment of less than the monthly interest due on a mortgage loan. The interest amount that is not paid is added to the loan balance, increasing the loan amount and decreasing the equity in the property.

Q: What is the Annual Percentage Rate or APR?
A: The Annual Percentage Rate is provided on Lenders' rate sheets and in the Truth-In-Lending Disclosure. It is a comprehensive measure of credit cost to the borrower that takes into account the interest rate, points and other fees charged by the lender. It is a useful tool to use when shopping for a mortgage. You can compare a loan program with the same rate between different lenders to determine which lender has the overall lowest cost mortgage loan.

Q: What is an Escrow Account and how much will I need in my Escrow Account?
A: It is common for home mortgage transactions to include an escrow agreement where the borrower adds a specified amount for taxes and hazard insurance to the regular monthly mortgage payment. The money goes into an escrow account out of which the lender pays the taxes and insurance when they come due.

The escrow account is established with a deposit that the borrower provides at closing. Lenders generally keep enough money in the account to pay the taxes or insurance when they are due and a two-month cushion.

Q: What is Loan-to-value ratio or LTV?
A: LTV is the loan amount divided by the lesser of the selling price or the appraised value. The LTV and down payment are different ways of expressing the same set of facts. If you have a 30% down payment, then you have a 70% loan-to-value. Different loan programs have different maximum LTVs depending on the terms of the loan that you are requesting.

Q: What are points?
A: Points or discount points are an upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "1 point" means a charge of 1% of the loan amount. It is common for most lenders to offer a wide range of rate/point combinations.

Q: What is Private Mortgage Insurance or PMI?
A: Private Mortgage Insurance is insurance required by a lender when more than 80% of a property value is financed. PMI protects the lender in case the borrower(s) stops making payments on the loan. If PMI is required, the lender will usually include an amount to cover the expense in your monthly mortgage payment. Lenders will allow borrower(s) to request the PMI to be cancelled if the loan amount reaches less than 80% of the property value based on the original appraisal, or a new appraisal if the property has appreciated in value. Lenders are required to cancel PMI once the loan balance reaches 78% of the original property value.

Q: Interest-Only Mortgage Payments – Are They For Me?
A: Traditional mortgages allow for amortization, or the repayment of some of the principal balance, on a monthly basis. Interest-only loans allow you to pay only the interest for a specified number of years. After that, your monthly payment increases to include repayment of both the principal and interest for the balance of the term of the loan. For example, if you take out an interest-only loan for 30 years, the interest-only period might be for 10 years, and then the loan payment will be re-calculated at a higher monthly payment amount to repay the loan for the remaining 20 years. The increase in the monthly payment when the loan starts to amortize can be substantial, especially if the loan is an adjustable rate mortgage. This type of loan works best for people who are able to make principal reduction payments during the interest-only period.

Q: Payment-Option ARMs – Are They For Me?
A: A payment-option ARM is an adjustable-rate mortgage that allows you to choose among several payment options each month. These options typically include: (1) a traditional payment of principal and interest, (2) an interest-only payment; or, (3) a minimum payment that may be less than the amount of interest due that month. If you choose this option, which is considered negative amortization, the amount of the interest you do not pay will be added to the principal of the loan, increasing the loan amount and hence increasing the amount of interest due on the loan. At the end of the payment option period, the lender will "recast" the loan and depending on the loan balance and the interest rate at the time, the monthly payment could increase significantly. This type of loan works best for people who may currently have modest income, but are reasonably certain that their income will go up in the future, so they will be able to handle the payment increases.

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Security

Q: How can I make sure my online banking sessions are secure?
A: We have several effective security features that we encourage you to implement when you use PGB NetAccess Internet Banking:
 

  • Never reveal your password to anyone or leave your password anywhere that someone else can obtain and use it.
  • Change your password on a regular basis.
  • Use the Exit button to end each Internet Banking session.
  • Do not use the Back button to exit the site.
  • Balance your account on a regular basis.
     

For more information on how to protect yourself online and offline visit our website Security Center.


Q:
What happens if I lose my Visa Debit/Check Card or ATM card?
A:  If your Visa Check Card or ATM card is lost or stolen, you should immediately contact Peapack-Gladstone Bank at (908) 234-0700 or after hours call (866) 546-8273.

Q: What happens if my Visa Debit/Check Card or ATM card is blocked while I am traveling?
A:   If your Visa Debit/Check Card or ATM card is blocked for any reason, you should immediately contact Peapack-Gladstone Bank at (908) 234-0700 or after hours call Prism Fraud Monitoring, a service of Peapack-Gladstone Bank, at (800) 411-8498 (Domestic) or (206) 352-3516 (International).


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FAQs
Peapack-Gladstone Bank is a full-service NJ bank providing both business banking and personal banking and has served the New Jersey Banking community since 1921. We're committed to offering our customers the most convenient and innovative products and services to help them successfully navigate through the demands of life. Peapack-Gladstone Financial Corporation is a bank holding company. Peapack-Gladstone Bank was established in 1921 and is a wholly owned community bank. nj bank nj community bank nj commercial lending nj cd rates nj mortgages. free checking free business checking high yield checking mobile banking online banking. online account opening, remote deposit, e-statements, nj trust & investments. We have 21 branches in Somerset County, Hunterdon County and Morris County including the cities of Basking Ridge, Bedminster, Bernardsville, Bridgewater, Califon, Chatham, Chester, Clinton, Far Hills, Gladstone, Green Village, Hillsborough, Long Valley, Mendham, Morristown, Oldwick, Peapack, Pottersville, Summit, Whitehouse Station and Warren. Discover the conveniences all of Peapack-Gladstone Banks are having to offer. Business checking; free business checking accounts, interest-bearing checking accounts. Business savings; certificates of deposit, high yield money market accounts, insured money market accounts, sixth year in money market accounts, statement savings account. Commercial lending. Small-business lending. Other business services; cash management, remote deposit, merchant services. Personal banking; personal checking, chairman's club checking accounts, free personal checking accounts, interest-bearing checking accounts, NJ consumer checking accounts, opening a personal checking account. Personal savings; certificate of deposit's, IRA certificates of deposits high-yield money market accounts, insured money market accounts, IRA savings accounts, pony club savings accounts, statement savings account, opening a personal savings account. Consumer loans; home equity fixed term loans, home equity line of credit loans, personal unsecured loans, personnel reserved loans, vehicle loans, Car loans. Mortgage loans; adjustable rate mortgages, affordable mortgage products, construction permit it mortgages, fixed-rate mortgages, reverse mortgages. Products and services; access 24 our own banking, ATM banking, check reorder, point machines, credit cards (MasterCard Gold, Visa classic and platinum, Visa platinum was flexed miles, Visa business, direct deposit, net access Internet banking and bill paying service, mobile banking, night deposit, online financial calculators, adjustable rate mortgage calculator, biweekly payment calculator, kids calculated, to mortgage loan calculator, PITI, retirement calculator, refinance and interest savings, savings calculator, safe deposit boxes, Visa check cards. Trustee services. nj bank. nj community bank. nj commercial lending. nj cd rates. nj mortgages. free checking. free business checking. high yield checking. mobile banking. online banking. online account opening. remote deposit. e-statements. nj trust & investments. State administration services. The state and trust administration services. Charitable trusts and private foundations. Investment management services. Custody services. Individual retirement plan services. Reporting services. Cash management services. Tax preparation services. Financial planning services. Wealth management services. PDB's financial services.