City Bank closure: How it affects you

If you’re a customer of City Bank you may be wondering how today’s purchase by Whidbey Island Bank affects you. Here’s the bottom line: your money is still there, you’re just a customer of a different bank.

  • All eight branches of City Bank will reopen during normal business hours beginning Saturday. Customers of City Bank will automatically become customers of Whidbey Island Bank. Deposits will continue to be insured by the FDIC.
  • You can continue to use your existing debit cards and checks.  If you have a problem with a merchant refusing to accept your check, please contact your branch office.  An account representative will clear up any confusion about the validity of your checks. All outstanding checks will be paid against your available balance as if no change had occurred.
  • ATMs and online services will remain available.
  • You should continue to use your former City Bank branch until you receive notice from Whidbey Island Bank that other Whidbey Island Bank branches can process your accounts as well.
  • You may continue to use the services to which you previously had access, such as safe deposit boxes, night deposit boxes, wire services, etc.
  • All interest accrued through Friday, April 16, 2010 will be paid at your same rate.  Whidbey Island Bank will be reviewing rates.  You will be notified of any changes.
  • Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank.
  • If you had a loan with City Bank, you should continue to make your payments as usual.  The terms of your loan will not change, because they are contractually agreed to in your contract.
  • Whidbey Island Bank will contact you soon regarding any changes in the terms of your account.
  • For more information you can contact the FDIC toll-free at 1-800-881-7816. The phone number will be open this evening until 9 p.m., Saturday from 9 a.m. to 6 p.m., and Sunday from noon to 6 p.m.

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