Online Accounts Frequently Asked Questions
You can open an account as an individual or with joint ownership. An individual account is an account in the name of one person. A joint account is an account in the name of one or more persons. Online accounts can only be opened with two owners. The account owner(s) must have a social security number to open an account online. The primary account owner is responsible for any tax ramifications related to the joint account. The primary owner is generally the first person listed on the account unless the bank is notified otherwise. Persons under 18 years of age cannot open online accounts.
Why do you need my email address?
We need your email address to complete the funding process when you elect to fund your account electronically. We may also send you important information regarding your account process.
Why is my social security number needed?
We obtain, verify and record your social security number for identification purposes. If you do not wish to enter your social security number online, please call us a 1-888-692-2654 or visit your local branch to open an account.
Employment Status – “What is This”
This information is used to help us confirm your identity.
Employer Name – “Why do you need this information”
If you answered the employment status as either “employed” or “self-employed”, we will ask for additional information in regard to your employer including the name, address and phone number. This information is used as a means of confirming your identity.
Occupation Description – “What is occupation description”
This is a brief description of what you do for a living. An example would be attorney, car dealer, construction worker, doctor, farmer, plumber, truck driver, etc. We will use this information to assist us in confirming your identity.
Electronic transfer is the method used to make your initial deposit. Your deposit will be transferred from an existing account at First United Bank and Trust or from another account at a different institution.
A percentage of the interest or payments paid on your account will be withheld for income tax purposes. There are both civil and criminal penalties if you provide false information to avoid backup withholding.
An internal transfer is the process of moving money from one of your accounts at First United into another. Also, please note that in the list of available funding accounts; any account that you currently hold which is unavailable as a funding account or which has an available balance LESS THAN the required minimum deposit amount for your new account will NOT be displayed in the drop-down menu.
What if my information is incorrect?
For existing customers, when verifying your account information, if it appears incorrect in any way you may still proceed and complete your account opening process. However, afterwards, please contact us by calling our toll-free number at 1-888-mybank4 (888-692-2654) to speak with one of our Customer Service Officers. They can assist you in correcting your information in our records!
Where do I find my security code (CCV)?
On the back of your First United VISA® Debit / ATM card, to the right of the signature line is a small box with a three (3) digit number in it. This is your Security Code (CCV).
Where do I find the balance on my statement?
Open your most recent statement find the following location, highlighted in red below:
U.S. person means a person (as defined in § 120.14 of this part) who is a lawful permanent resident as defined by 8 U.S.C. 1101(a)(20) or who is a protected individual as defined by 8 U.S.C. 1324b(a)(3). It also means any corporation, business association, partnership, society, trust, or any other entity, organization or group that is incorporated to do business in the United States. It also includes any governmental (federal, state or local) entity. It does not include any foreign person as defined in § 120.16 of this part.
United States Persons (IRS Website)
The term ”United States person” means:
- A citizen or resident of the United States
- A domestic partnership
- A domestic corporation
- Any estate other than a foreign estate
- Any trust if:
- A court within the United States is able to exercise primary supervision over the administration of the trust, and
- One or more United States persons have the authority to control all substantial decisions of the trust
- Any other person that is not a foreign person.
FATCA Current Alerts and Other News
The provisions commonly known as the Foreign Account Tax Compliance Act (FATCA) became law in March 2010.
- FATCA targets tax non-compliance by U.S. taxpayers with foreign accounts
- FATCA focuses on reporting:
- By U.S. taxpayers about certain foreign financial accounts and offshore assets
- By foreign financial institutions about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest
- The objective of FATCA is the reporting of foreign financial assets; withholding is the cost of not reporting.
Online Accounts Frequently Asked Questions
Which ownership type should I choose?
You can open an account as an individual or with joint ownership. An individual account is an account in the name of one person. A joint account is an account in the name of one or more persons. Online accounts can be opened by one or by a maximum of two owners. The account owner(s) must have a social security number to open an account online. The primary account owner is responsible for any tax ramifications related to the joint account. The primary owner is generally the first person listed on the account unless the bank is notified otherwise. Persons under 18 years of age cannot open individual accounts.
How is my personal information used?
We use your personal information for a variety of important purposes. For example, we record and use your Social Security Number and Employment Information to help verify your identity when opening an account. Your email address is used to alert you to important information regarding your account, including helping you to complete the account funding process.
Our account application is secure, but if you do not wish to enter your personal information online, please visit a local branch or call us at 1-888-692-2654 to open your account.
How can I find my security code (CVV)?
On the back of your First United VISA® Debit / ATM card, to the right of the signature line is a small box with a three (3) digit number in it. This is your Card Verification Value (CVV).
Why do I need to review and accept disclosures?
We include your account agreement, fee schedule, any applicable disclosures and our privacy policy information for your protection so that you may better understand your new account and the conditions you have accepted. Reviewing and accepting the included disclosures is required to open an account.