MBT FAQ's

• Debit Cards
• FDIC Insurance
• Ultra Checking
• Ask the Experts

Debit Cards

1. I just received my new debit card in the mail, what do I do now?

• For easy one step activation, go into your local MBT office and a personal banker will assist you in activating your new card.
  
  

2. If I can't make it in to an MBT office can I activate the card myself?

• Yes, you can activate your card by calling Shazam at 1-866-590-4793.  Your card may be used for signature based transactions without assigning a PIN number.  This option may be helpful if you receive your card on the weekend or after banking hours.
  
  To activate your card with a PIN number call your local MBT office and a personal banker can help you obtain an Easy PIN Reference Number.  Once you obtain that number call Shazam at 1-866-590-4793 and select option 1 to Pin your card.
  
  

3. Is it possible to activate my card at an ATM machine?

• If you have received a new card because your existing card has expired it may be activated by using your existing PIN number at any ATM nationwide or calling 1-866-590-4793.
  
  

FDIC Insurance

1. I understand there are new rules for FDIC Insurance as of December 31st, 2010. Can you explain them?

• NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
  COVERAGE FOR TRANSACTION ACCOUNTS

  All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
  
  The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts and money-market deposit accounts.
  
  For more information about temporary FDIC insurance coverage of transaction accounts, visit the FDIC website. 
  
  

2. Is my money safe at MBT?

• A lot of people are wondering about the safety of their bank deposits these days with all the upheaval of the financial markets.
  
  Our local banks are well capitalized and use deposit funds to primarily make loans to businesses, farmers, and consumers in our local area.  Community banks are common sense lenders and have not been in the subprime loan market.  Most of our customers are 100% covered by FDIC insurance and "backed by the full faith and credit of the U.S. government."  Every individual has $250,000 coverage under their name in checking, savings and CD's plus and additional $250,000 coverage for IRAs (Individual Retirement Accounts).  Married couples can double their coverage by splitting funds under their two names.  There are ways to get additional coverage by using children's names, trust accounts or joint accounts with right of survivorship.  One of our personal bankers can help you with figure your coverage amount.
  
  The stock market has been in a downward tailspin.  This is not a time to panic, but a discussion with your banker or financial advisor may be in order.  There is an old saying "I'm more concerned about the return OF my money than I am about the return ON my money."  In times like this, many people are feeling this way.
  
  David L. Kingland
  President/CEO
  Manufacturers Bank & Trust Co.
  
  

Ultra Checking

1. Do you have to put $25,000 in the Ultra Checking account to earn the high interest rate?

• NO!  You do not need to have $25,000 to earn the "Ultra Rate" with Ultra Checking.  If you meet all of the requirements each month you earn the "Ultra Rate" for that month.  Being able to earn that rate is not tied to the balance.  However, if you have over $25,000 in the account, and meet the monthly requirement you will earn the lower "Ultra Rate" on the balance over $25,000.  So, in that case you are earning a blended rate.
  
  

Ask the Experts