Check out the most commonly asked questions from our customers. Don’t see the question you have or the answer you’re looking for? Contact us at 978-283-8200 or click "Let's talk" in the lower right corner of your screen to speak/chat with a BankGloucester customer service representative during business hours.
How do I get a bank check?
You can get a bank check at the teller line at any one of our branch locations. Funds must be withdrawn from a checking or savings account; you cannot purchase a bank check with cash.
You can receive a "Money Order" for amounts of $500 or less and a "Treasurers Check" for amounts more than $500.
There is a $3 charge for bank checks; free for those 18 or younger and 65 or older. One free per day if withdrawn from a savings account.
What are the daily limits on my debit card for POS and ATm?
You have daily limits of $1,000 for Point of Sale (POS) purchases and $500 for ATM withdrawals. If you would like to temporarily increase your limit, please contact us at 978-283-8200 or click the "Let's talk" button below to start a chat during business hours.
Where can i find my full account number online or using the BG Mobile app?
For both online banking and the BG mobile app:
- Login
- Select which account you'd like
- Select "Account Details"
When opening an account or other transactions, can i submit a picture of my id?
When opening an account in-branch, photos of an ID (from a phone or computer) do not meet our compliance standards. We only accept a physical, unexpired government- issued ID. When opening an account online, photos of an unexpired, goverment-issued ID is acceptable.
When will my funds be available?
Per our Funds Availability Policy: Our general policy is to allow you to withdraw funds deposited in your account on the same day we receive your deposit. In some cases we may delay your ability to withdraw funds on the same day. Then, funds will generally be available by the second business day after the day of your deposits. However, the first $275 of your deposits will be available on the same day. There are exceptions which could delay availability even longer. We will inform you at the time of your deposit, or mail you written notification on the day we receive your deposit.
When will my mobile deposit post to my account?
If your mobile deposit was submitted before 3:30 PM then it will be posted around 8PM the same business day. If your deposit was submitted after 3:30 PM then it will be posted around 8PM the next business day.
Why did my loan payment INCREASE?
Your loan payment may have increased for several reasons, including:
- Adjustable-Rate Mortgage (ARM): If your loan has an adjustable interest rate, your payment may have increased because your interest rate adjusted according to the terms of your loan.
- Escrow Changes: If the bank collects escrow for real estate taxes and/or flood insurance premiums, your monthly payment may increase if your property taxes or insurance premiums have gone up.
If you have any questions please contact our Residential Lending Department.
What's the difference between a payoff and a paydown on a Home Equity Line of Credit (HELOC)?
- Payoff: A payoff means you are paying your loan in full and closing the account. The payoff amount includes the outstanding principal, any accrued interest, and the discharge fee. Once the loan is paid in full, the bank will record discharge of mortgage with the Registry of Deeds. After the loan is closed, you will no longer be able to draw funds from the line of credit.
- Paydown: A paydown allows you to reduce your outstanding balance to $0.00 while keeping your line of credit open. The paydown amount includes the outstanding principal and any accrued interest through the payment date, but does not include the discharge fee. The account remains open, no discharge is recorded, and you may continue to draw funds from the line of credit in the future, subject to the terms of your home equity line of credit agreement.
Check out our Mortgage calculators to get a realistic idea of payments, savings, taxes, and more.
What is a discharge fee?
When you pay off your mortgage, home equity loan, or home equity line of credit, a $105.00 discharge fee is collected. This fee covers the cost of recording the discharge of mortgage with the Registry of Deeds.
Once your loan is paid in full, the bank prepares the necessary discharge document and submits the required recording fee to the Registry of Deeds. Recording the discharge officially releases the bank’s lien from your property and updates the record to show that your loan has been satisfied.
What is a 1098 mortgage interest statement?
A 1098 Mortgage Interest Statement is an annual tax form that reports the amount of mortgage interest you paid during the previous calendar year. The bank will mail this form to you by January 31 if you paid $600 or more in mortgage interest during the year.
You may need this form when preparing your federal income tax return. If you have questions about how the information on your Form 1098 affects your taxes, please consult your tax advisor.
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