Frequently Asked Questions (F.A.Q.s)

We developed this page to help our users with any problems they might have. If you have any suggestions for content on this page or you have a question that is not covered in these pages, please contact us.

Banking

Q Are BOM deposit accounts FDIC insured?
A Yes! All deposit accounts at BOM are insured by the FDIC up to $250,000.

Q How do I set up Direct Deposit of my payroll check?
A After your BOM checking application has been approved, you will receive BOM’s routing and transit numbers and your account number. If your employer participates in a direct deposit program, simply provide this information to the human resources or payroll department at your company, and your direct deposit will usually begin within thirty days.

Q Can I get information about my account by phone?
A Yes! Account information is available with our Customer Service Representatives during business hours at any of our offices or ask about our Voice Response System for automated account information 24 hours a day.

Q Can businesses have accounts at BOM?
A At this time, BOM does not currently offer online accounts for businesses.

Q Does BOM offer IRAs?
A Currently, BOM does not offer IRAs online.

Q Can I open an account if I don’t live in the US? What about if I live in the US but am not a citizen yet?
A As stated on our application, at this time we only accept applications from persons residing within the United States with valid US tax identification numbers. If you have questions, contact us. We’d like to hear from you.

Q Can I do all of my banking with BOM?
A Yes! Thanks to the convenience of Direct Deposit, ATMs, and the Visa® checkcard, everyday banking activities can be performed from the comfort of home. Contact us with questions about your banking needs.

Q How do I make a deposit to my account from a remote location?
A You can do most of your banking by using direct deposit, ATMs, or ACH (Automated Clearing House) transactions. BOM also offers a bank-by-mail service which allows you to mail in non-recurring deposits. Contact us for details on a method that’s best for you.

Internet Banking

Q How do I access Internet Banking?
A After your BOM checking application has been approved, simply click on the words Internet Banking on any page in this site. When using Internet Banking for the first time, click on the button “Click here to create or change your pin number” to set up your pin number. You can access Internet Banking from our main page.

Q How frequently is my BOM information updated?
A BOM updates all customer information nightly. Whether you access our Internet Banking, the automated voice response system, or contact us directly, your account information is updated daily to reflect all account activity.

Q Can I look at all of my transactions at any time?
A Yes, with our Internet Banking section and the automated voice response system, you have access to your account information 24 hours a day, 7 days a week!

Q After I have signed up online for electronic bill payment, how long does it take for my User Kit to arrive in the mail?
A Once you have completed the sign-up form at the Web site, your User Kit will arrive in the mail within 5-10 business days.

Q How long does it take to set up a new payee in the bill payment system?
A Once you have entered a new payee into the bill payment system, it takes two business days to set up the payee to receive payments.

Q Even though it takes two business days to set up a new payee, can I still enter a bill payment to the new payee during those two business days?
A Yes. You may enter a payment to your new payee immediately; however, the payment will not actually be made until the payee is set up. Any payments made to the payee before the payee is added to the system will be delayed in reaching the payee by approximately two business days.

Q After I make a bill payment, how long does it take for the money to be debited from my account?
A The money will be debited electronically from your account within 2-3 business days starting on the business day following the payment date. If you make a payment on Monday, you can expect the money to be debited from your account by Wednesday or Thursday of the same week.

Q How long does it take for a payment to reach the payee?
A A payment that generates an ACH payment will credit the payee’s account within 2-3 business days, whereas a paper check will take up to 10 business days.

Q How do I use the bill payment system?
A Step-by-step instructions can be accessed by pressing the help button within Internet Banking.

Security

Q I’m still hesitant about banking online. Can other people see my account information?
A Your account information is at least, if not more, secure as it is at your physical brick and mortar bank. We’ve taken every step possible to be sure our system meets the latest security standards, including using the latest security encryption methods and software.

Q What about filling applications out online? How secure is that?
A Filling out applications online is no less secure than the Internet Banking System. Your entire session, starting when you open an application page, all the way until you are finished submitting your application, is encrypted. Our system supports 128-bit encryption, so you can also use the latest browser from Netscape or Microsoft that support this level. In fact, the highest encryption Netscape and Microsoft browsers support is 128-bit, so you will be using the highest bit encryption currently available if you use a 128-bit encryption capable browser.

Q I keep hearing a lot about encryption? What exactly is it, and why does it make everything more secure?
A Encryption is basically a way to rewrite something in a code, which can then be decoded later with the right key. The encryption we use employs a mathematical process for the key which is made up of a certain number of bits (hence, 128-bit encryption). The higher the number of bits, the better the encryption. While on our Internet Banking System, all communication from you to the system, and from the system to you, is encrypted using a maximum of 128 bits. In other words, when you send information to the system, your browser encrypts it using a 128-bit key, then sends it to the system. The system then decodes the information you sent it using the key (which is predetermined when your Internet Banking session is started) and processes it.

Q What about information that is stored? Is it encrypted as well?
A Information stored on our system is also encrypted, using at least 128 bits.

Q I’d like to know more about the security methods you have implemented. Where can I read more?
A For a more detailed description of the security we have included in our Internet Banking System, please see our Internet Banking System Security Overview.

Internet Banking System Security Overview

In Internet banking as with traditional banking methods, security is a primary concern. At BOM we have taken every precaution necessary to be sure your information is transmitted safely and securely. The latest methods in Internet banking system security are used to increase and monitor the integrity and security of the system.

The security of the BOM Internet banking application is addressed at three levels. The first concern is the security of customer information as it is sent from the customer’s PC to the Web server. The second area concerns the security of the environment in which the Internet banking server and customer information database reside. Finally, security measures are in place to prevent unauthorized users from attempting to log into the Internet Banking section of the Web site.

Data security between the customer browser and our Web server is handled through a security protocol called Secure Sockets Layer (SSL). SSL provides data encryption, server authentication, and message integrity for a Internet connection. In addition, SSL provides a security “handshake” that is used to initiate the connection. This handshake results in the client and server agreeing on the level of security they will use and fulfills any authentication requirements for the connection. Currently BOM’s Internet Banking application supports data encryption at the highest level (128 bit). In order to get this level of encryption, you will need a browser that supports it. Both versions 3 and 4 of the most popular browsers support 40-bit encryption as a default, and have complete versions as well as patches that will support the stronger 128-bit encryption. Check with your browser manufacturer’s website for more information.