People's United Bank Welcomes Belmont Savings Bank Customers

Belmont Savings Bank is now People's United Bank
Will Belmont Savings Bank change its name to People's United Bank?

Yes. Over the next several weeks our signs and marketing materials will begin to reflect the new name.


How does this change benefit me?

You now have access to your funds at over 600 People's United Bank ATMs, across New England and New York. (Visit peoples.com for ATM locations.) In addition to an expanded network of over 400 branches, soon you'll also have more products and services to choose from to meet your financial needs


Will all Belmont Savings Bank branches become People's United Bank branches?

Yes. All branches will become a People's United branch and will continue to provide you with the excellent service you've come to expect.


Does my account number change?

You may continue to use your current account number at this time.


Can I still use my checks?

Yes, continue to use your checks, as you've always done.


What happens to the checks I have written?

You will not experience any changes with the processing of checks that you have written. Your transactions will continue to be posted to your account up to the available balance.


I need to order a supply of checks; what should I do?

Stop by your local branch to place your order or order online at belmontsavings.com


Can I still use my debit card?

Yes. You can continue to use your Debit Card. It will continue to work the same as before.


Can I still use my credit card?

Yes. You can continue to use your Credit Card. It will continue to work the same as before.


What about my loans?

Continue making loan payments just as you do today.


My business uses Belmont Savings Bank's cash management services; will I still be able to use these?

Yes. All cash management services such as: Remote Deposit Capture, ACH, Wire Transfers, PositivePay, etc. will continue to be supported. You will receive a separate communication with details about your services.


Will my direct deposit continue?

Yes. Direct deposit services, including Social Security, will continue without interruption.


Will all of my pre-approved transfers and debits to or from my account still happen?

Yes. Any pre-approved transfers will continue to work as before. This includes mortgage, insurance and car payments, just to name a few.


What happens to the interest on my deposit accounts?

At this time, your deposit accounts will continue to earn interest at the same rate as before.


Can I still use online and mobile banking, bill pay and telephone banking?

Yes. These services continue as before for both Personal and Commercial online and mobile banking, bill pay, and telephone banking customers.


What happens to my safe deposit box?

You can continue to access your safe deposit box at your branch as you have done in the past.


Is People's United Bank FDIC-insured?

Yes. The standard insurance coverage amount is $250,000 per depositor for each deposit account ownership category. For more information on specific coverage, visit www.fdic.gov.


What if I am already a customer of People's United Bank and my combined deposit balances exceed $250,000?

Your Belmont Savings Bank deposit accounts transferred to People's United Bank will be separately insured for six months after the merger date. This period will allow you the opportunity to come visit us to restructure your deposit accounts, if necessary.

CDs are insured until the earliest maturity date after the end of the six-month grace period after the merger date.

Please read the FDIC Insurance coverage for more information.


Is People's United Bank DIF-insured?

Massachusetts state-chartered savings banks have deposit insurance through the Depositors Insurance Fund (DIF). As a nationally chartered bank, we are unable to participate in DIF. At People's United Bank, you have the security of knowing that your money is on deposit at one of the country's strongest and best capitalized regional banking institutions.