• If you have a retail checking account, a money market account, or a savings account with a PIN, you may access your account by using our 24-hour automated telephone banking system.
• You can also receive account balance information, view recent transaction activity, transfer funds and pay bills when you enroll in Oak Bank Online Banking and Online Bill Payment.

• Please contact customer service or visit us at the Bank for more information about our fees.

You can make additional deposits in the following ways:

• In person at Oak Bank at 1000 N. Rush Street.
• By transfer from another eligible Oak Bank account by phone, online, mobile, ATM, or in-person.
• By mail by sending us a check.
• By wire transfer you initiate at another bank.  Fees may apply.
• By ACH transfer you initiate at another bank. Fees may apply.
• Contact the bank you would like to transfer out of.
• Night deposit box.

• By check (if you are provided checks for your Account)
• By using an ATM or debit card if you are issued an ATM or debit card for your Account (daily limits apply).  Fees may apply.
• By bill payment through online banking (if available for your Account)
• By ACH transfer.  Contact the bank you would like to transfer to.
• By wire transfer. Fees apply.

The daily withdrawal limit varies by account. In general, a maximum of $500 can be withdrawn daily from your Oak Bank account with a maximum of $1,000 withdrawn through point of sale (POS) transactions.

No. There is no charge at Oak Bank ATMS involving your Oak Bank deposit accounts. Oak Bank does not charge you to use another bank’s ATM machine to withdraw funds. There may be fees assessed by the owner of the ATM you are withdrawing funds from.

Please refer to Oak Bank’s Funds Availability Schedule that you were provided at account opening or contact an Oak Bank customer service representative.

A handling fee is charged to your account when a check is returned to Oak Bank unpaid. For more information on the fees, please contact a customer service representative.

Some merchants use an electronic process to receive payments from your account. You may be asked to sign a payment authorization, after which your canceled check will be returned to you immediately. The payment request will then be sent to your bank electronically.

Oak Bank does not charge a fee when you use your card at merchant locations regardless of whether you select Credit or Debit for transaction type.

Oak Bank’s rates may change on a daily basis. Please contact a customer service representative for more information on our current interest rates offered.

• If you have a retail checking account, a money market account, or a savings account with a PIN, you may access your account by using our 24-hour automated telephone banking system.
• You can also receive account balance information, view recent transaction activity, transfer funds and pay bills when you enroll in Oak Bank Online Banking and Online Bill Payment.

Oak Bank currently offers the following savings accounts:

• Regular Savings
• Acorn Savings (minor savings account)

Oak Bank’s rates may change on a daily basis. Please contact a customer service representative for more information on our current interest rates offered.

You can apply for a savings account at Oak Bank’s banking center at 1000 N. Rush Street, Chicago, IL 60611.

Interest begins to accrue on the day the account is processed, not the day the application is submitted. The application will be processed at the interest rate that was effective on the day that the application was submitted.

Interest is compounded daily and credited quarterly.

An Individual Retirement Account (IRA) is a type of savings account that is designed to help you save for retirement and offers many tax advantages. There are two different types of IRAs: Traditional and Roth IRAs. The difference between a Traditional and a Roth IRA is that a Roth IRA contribution is not tax deductible. The proceeds from the Roth IRA are not taxable, whereas the proceeds from the Traditional IRA are subject to income tax.

For 2015 and 2016, your total contributions to all your traditional and Roth IRAs cannot be more than:

• $5,500 ($6,500 if you’re age 50 or older), Or
• Your taxable compensation for the year, if your compensation was less than this dollar limit.

These amounts can change annually, so please check with the Bank for updated information about future years.

One of Oak Bank’s customer service representatives can assist you in opening an individual retirement account and the requirements for doing so. You will need to determine which type of account you want to open, a Traditional or Roth, and if you qualify based on IRS guidelines. Your Modified Adjusted Gross Income (MAGI) is an income tax term that refers to the amount used to calculate your annual income tax liability. It’s also used to determine whether or not you’re allowed certain tax benefits.

Oak Bank offers competitive rate CDs for your IRA investments.