Q&A
Q: Where can I find my routing and account numbers?
A: You can find your routing number by selecting the state you opened your account. routing numbers are often referred to as check routing numbers, ABA numbers or routing transit numbers (RTN).
You can also find your routing numbers and account numbers on checks or Digital Banking.
On Checks-
Your routing number is listed as the first sequence of numbers at the bottom left corner of your personal checks - typically a 9-digit number.
Your account number is listed as the second sequence of numbers at the bottom left corner of your personal or business checks-typically a 10(?) digit number.
In Digital Banking-
Your routing and account numbers can be viewed online in Digital Banking. Select the account you want to see, then look for the details tab and select "View Routing and Account Numbers."
Q: Can I set up automatic deposits to my Magnolia State Bank account?
A: Yes. Magnolia State direct deposit services offers you the convenience of recurring automatic deposits into your accounts. Deposits can be distributed across multiple Magnolia State accounts. Online alerts let you know when your money has been deposited.
Qualifying deposits may include salary, pension, Social Security and Supplemental Security Income (SSI) benefits and other regular monthly income.
Q: How do I set up direct deposit?
A: You'll need your Magnolia State Bank account number and ABA routing number in addition to your employer's address.
Q: How do I change the address on my accounts? Can I send an email?
A: We're unable to accept address changes from email. Please use one of the following methods to change your address.
-Call our Customer Service at 1 (877) 308-1629 between 8:30am & 5:00 pm Monday thru Friday.
-Visit a local branch
Q: On what holidays is Magnolia State closed?
A: Magnolia State Bank will be closed in observance of the following federal holidays.
If you need to take care of your banking during the holidays, we've got you covered. With our secure ATMs and Digital Banking, you can access your accounts anywhere, anytime.
Q: What amount of insurance coverage do I have for my accounts?
A: If you and your family have $250,000 or less in all of your deposit accounts at the same insured bank or savings association, you do not need to worry about your insurance coverage - your deposits are fully insured. A depositor can have more that $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements. In addition, federal law provides insurance coverage up to $250,000 for certain retirement accounts.
Q: What is the FDIC?
A: The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government. The FDIC protects depositors against the loss of their insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
Q: What does it mean when your accounts are FDIC insured?
A: It means that the FDIC guarantees all traditional types of deposit accounts (checking, savings, money market savings and CDs) up to $250,000 per depositor and guarantees individual retirement accounts (IRAs) up to $250,000 per owner.
Q: How much money is covered by the FDIC?
A: To calculate your coverage, use the EDIE the Estimator, created by the FDIC.
A: To calculate your coverage, use the EDIE the Estimator, created by the FDIC.
Q: Have questions about the FDIC?
A: To learn more, contact the FDIC toll-free at (877)-275-3342 between 8am and 8pm ET or visit the FDIC website.
You can also call Magnolia State Bank directly at (877) 308-1629 between 8:30am and 5pm Monday thru Friday or visit one of our branches.
Q: What's the difference between current balance and available balance?
A: Your account's current balance is the beginning-of-the-day balance after the prior evening's posting. The available balance is the amount you have in your account that's available for immediate withdrawal or to cover debit items. The available balance represents the difference between the current balance and pending items (those items we have received but haven't posted).
-Available Balance = Current Balance + Pending Credits - Pending Debits
Q: What is an insufficient funds fee?
A: You're charged insufficient funds fee (NSF) whenever you don't have enough money n your checking account to cover an expense and we have to decline the transaction or return the item unpaid.
Q: What is the address for mailing a payment to my Magnolia State Bank installment loan?
A: Magnolia State Bank
P.O Box 909
Eastman GA, 31023
Q: Are the ATM and Mastercard transactions deducted from my available balance?
A: Yes. Your available balance reflects your ATM and debit card deductions. However, they won't appear in your transaction history until the next business day's posting.
Q: What does it mean when your accounts FDIC approved?
A: It means that the FDIC guarantees all traditional types of deposit accounts (checking, savings, money market savings and CDs) up to $250,000 per depositor and guarantees individual retirement accounts (IRAs) up to $250,000 per owner.
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