FAQS

24 Hour Banking

How do I use your online banking service?

You can sign up to view your accounts on our web site. To learn more, view our online demo  today.

 

Is there a fee for on-line banking?

It is absolutely free to view your accounts and to transfer between accounts. You can also utilize our bill payment service which is free for the first nine months and then has a cost of $3.00 per month and .35 cents per bill payment. CheckPlus customers receive the bill payment for free.

 

How can I obtain my account balance over the phone or the Internet?

You can obtain your balance over the phone by calling our Bankline service at 1-888-252-0760. You can also receive account balance and other account information by signing up for Your Link [link to personal/online bill pay/your link online banking] online service.

 

How do I transfer between accounts?

You may transfer funds using:

Bankline - our 24 hour telephone banking service.

Your Link  - our Internet banking system.

 

ATM/Debit Card Usage

As a Dedham Savings customer can I utilize ATM machines out of the area?

As a member of the NYCE and Cirrus networks, our ATM system is well connected. Perhaps even more important to you is our membership in the SUM ATM alliance. In a market where many of the big banks are imposing surcharges, customers of a SUM bank can use any of the more than 2500 SUM ATMs across the state without additional surcharges.

 

ATM/Debit Card (Compromised)

What does it mean that my card was compromised?

Data compromise also known as hacking occurs when an individual or a group of individuals gain unauthorized access to a computer system for the purpose of corrupting or stealing data. When you use your card at a merchant such as a store, gas station, over the internet or on the phone, your debit card information is recorded into a database that is retained by the merchant for a period of time. Information such as card numbers, expiration dates, and names. The unauthorized individuals may gain access to this information that is stored and may use it to perform fraudulent activity on your debit card.

 

What information was compromised on my debit card?

The only information that is encoded on your debit card is your name, debit card number (which is not your Dedham Savings checking or savings account number) and the expiration date. Any accounts linked to your debit card are not revealed to a merchant when you make purchases, ATM withdrawals or point of sale transactions.

 

Could the bank have prevented this incident?

The bank has no control over where you use your card and how the merchants store your information. Each merchant must attempt to protect customer information by ensuring that your information is secure. The bank does protect our customers by reissuing new cards immediately when we are notified by MasterCard to reduce the chance of any fraudulent activity occurring on your account.

 

How do you know that my card was effected?

The undisclosed merchant works with MasterCard in identifying customers that may have been compromised. We receive the list from MasterCard that identifies which card numbers were effected.

 

Why is the bank reducing my limits and ordering me a new card?

As a precaution, the bank wants to protect the customer information and at the same limit the bank's liability in case of fraudulent activity. We lower the cash limits for cash advances and we reduce the MasterCard purchase limits. We do this so that the customer will be able to make purchases for small amounts until they get their new card in the mail. We may allow the customer full access to make ATM withdrawals and Point of Sale purchases (Pin required) depending upon the type of compromised list that we receive. We send out letters to customers as quickly as possible to notify them of our action.

 

Why was I not notified by telephone?

There are many cardholders affected that it would be difficult to reach every Dedham Savings customer. Instead we focus our efforts on reissuing new cards and reducing existing purchase card limits.

 

Can you raise my limits especially if I need to make a purchase over the reduced limit?

We can make exceptions to raise limits temporarily on a case to case basis. Contact the Electronic Banking Department at 781-329-6700 for assistance.

 

How long will it take for me to receive a new card?

It usually takes 7-10 business days to receive a new card. You will receive a pin reminder first in the mail and shortly thereafter; you should receive the new card. The pin reminder will reveal your new pin number on it. If you would like to change your four digit PIN number, you must visit one of our branches to have your debit card re-encoded. The customer should use their current card until they receive the new one.

 

What should I do with my old card?

Once the new card arrives, you should destroy the old compromised card. The bank will place a restriction on the card once we know our customers have received their new cards.

 

Why don't you disclose the name of the merchant in the letter that you send me?

We never receive the names of the merchants involved. We receive a list indicating that an undisclosed merchants database was compromised. The merchant is protected because law enforcement ultimately investigates the case. Once the case is closed, the merchant may be revealed at a later date.

 

Branch Banking

Can I do banking business at any location or do I have to come to the Main Office?

We can fulfill your banking needs at any of our bank locations.

 

If I need documents notarized or a signature guaranteed, could Dedham Savings help me?

Yes. We have notaries at every office. You must be a customer for at least six months to have a signature guarantee.

 

Can I purchase traveler checks and gift Checques at the bank?

Yes. Customers may purchase American Express travelers checks and gift Checques at any bank location. We also have American Express gift cards and traveler cards available for sale.

 

Deposit Products

What are your current deposit rates?

Our rates are posted weekly on our website. You can also obtain current rates 24 hours a day by calling our Bankline  service at 1-888-252-0760.

 

Investments

I need help with my investment options, who would I speak with at the bank?

You can speak to Tom Benson at the Investment Center at Dedham Savings [link to investments/overview]. We also have bank employees who are licensed to speak about your investment options.

 

Can I talk to someone at the bank about life insurance?

Yes. We have SBLI representatives at the bank.

 

Does the bank sell United States Savings bonds?

No. Effective Jan 1, 2012, all U.S. Savings bonds must be purchased through Treasury Direct.

 

Mortgage and Consumer Loans

Can I obtain an automobile loan online?

Yes. We have a secure online application [link to personal/consumer loans/auto loans/auto loan applications] where you can apply for an automobile loan at any time of the day or night.

 

How do I obtain a loan with Dedham Savings?

You can apply for a mortgage though the Dedham Savings website or by coming into any of our offices during business hours.

 

Can you make a payment from a Dedham Savings account to pay a loan at another bank?

You can set your account up for Bill Payment through YourLink. Bill Payment is free for CheckPlus customers.

 

What are the hours of the Loan Servicing Department?

You can reach the Loan Servicing Department Monday thru Fridayfrom 8:30 am to 7:00 pm and on Saturday 9:00 am to 1:00 pm. You can reach us by phone at (781) 329-6700, ext. 301 or by email loan.servicing@dedhamsavings.com or by fax to 781-320-1478. You may also use our toll free number (800) 462-1190 to access your account information 24/7.

 

What are the Loan Servicing fees?

Duplicate Year-End Statement $20.00
Research $25.00 per hour
Copy of loan documents $10.00 per page
Duplicate escrow analysis

$20.00

 

How do I drop my Private Mortgage Insurance (PMI)?

To drop your PMI, you will need to send a written request. Once we receive your
request, you will be receive written notification of your eligibility.

 

Can I make my mortgage payment by phone?

You can make your mortgage payment by initiating a telephone transfer, however, you must first complete an application through our Electronic Banking Department at (781) 329-6700 ext. 201, or toll free at (800)-462-1190.

 

Can I change my payment due date?

The current first mortgages do not have an option to change the due date.

 

Why did my payment amount go up?

Our Loan Servicing Department can assist you with this. Contact Loan Servicing by phone at (781) 329-6700 ext 301, or our toll free number (800) 462-1190, or by email at loan.servicing@dedhamsavings.com.

 

How do I receive my monthly billing statement?

Your monthly billing statement will be mailed to you approximately 12 days before the payment due date.

 

How do I get a copy of my year-end statement?

You can request a copy of your 1098 – Mortgage Interest year-end statement by calling our Loan Servicing Department at (781) 329-6700, ext 301 or by email at
loan.servicing@dedhamsavings.com. There is a fee of $20.00 for a copy of the statement.

 

What is the payoff on my loan?

To obtain a payoff on your loan, you may either call our Loan Servicing Department at (781) 329-6700, ext. 301 or fax over a written request by mail or fax.
Fax: (781) 320-1478.
Dedham Savings Bank Attn: Loan Servicing Department
55 Elm St., Dedham, MA 02026

 

Where do I send my tax bill?

Since Dedham Savings has a tax service to pay your taxes, it is not necessary to forward your tax bill to us. You may retain your tax bill for your records.

 

How do I pay my own taxes?

Please send a written request to pay your own taxes to the Loan Servicing Department at the following address:

Dedham Savings Bank Attn: Loan Servicing Department
55 Elm St., Dedham, MA 02026

 

What do I do, I have an insurance check for property damages?

Please contact the Loan Servicing Department at (781) 329-6700, ext 301 and we will guide you through the process.

 

How can I update my mailing address?

A written request to change your mailing address can be done at any one of our branches or by mailing your request to the following:

Dedham Savings Bank Attn: Loan Servicing Department
55 Elm St., Dedham, MA 02026

 

Where can I get current mortgage rates?

You may get up-to-date mortgage rates by accessing the Dedham Savings website at,
www.dedhamsavings.com, under Loan Center, mortgage loans, or call our Loan Servicing Department at (781) 329-6700, ext 301. You may also visit any one of our branches for up-to-date rates.

 

Can I pay my mortgage from an account at another bank?

Yes, an AutoPay/ACH Agreement from will need to be completed. Call our Loan
Servicing Department at (781) 329-6700, ext 301 for the form.