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Frequently Asked Questions (FAQ)

Frequently Asked Questions

Choose your FAQ category through the drop-down menu below.

No. You will only receive messages when you specifically request them with one of the Text Banking commands or if you subscribe to Mobile Alerts.

You will receive a notification by e-mail when your deposit has been received.

When your deposit is processed, you will receive a second e-mail notification on the status of your deposit. This e-mail will indicate if the deposit was approved or declined for processing. If declined, a reason will be provided.

To unenroll a device, just log in to Online Banking and select 'Manage mobile banking settings' under the Customer Service/Administration tab. Personal users who have activated text banking may also text 'S' or 'STOP' to 49794 to deactivate text banking for that device.

To Enroll another Mobile Device, log in to Online Banking and select 'Manage mobile banking settings' under the Customer Service/Administration tab.

Users may enroll for, both, the web/browser-based version of Mobile Banking as well as the downloadable applications, if supported. SMS/Text for Mobile Banking must be enrolled from the Mobile Banking Center using a personal computer. Click on the "Activate Now" link for SMS and follow the instructions presented on the screen.

Mobile banking gives you access to your accounts from your mobile web browser or a downloadable mobile banking application, depending on your preference and your mobile device capabilities. Both options allow you to: view account balances, search recent account activity, transfer funds, pay bills and find nearest ATM or branch locations. Also, on the downloadable mobile banking application, you have the option to deposit checks.

At the time of activation a "cookie" is stored on your device which allows the Mobile Banking system to remember that you activated. The cookie is only visible by the Mobile Banking system and does not contain personal information. Some devices may require you to enable cookies or periodically erase them, requiring reactivation. If you are experiencing this issue, check your settings to ensure that cookies are enabled. If cookies are enabled and the issue persists, please contact your mobile network carrier or device manufacturer for cookie support information. If you would like to reactivate, text R or RECOVER to 49794.

You can temporarily disable a device from the Mobile Banking service at any time, or permanently remove it. Just log in to Online Banking and select 'Manage mobile banking settings' under the Customer Service/Administration tab.

First, we listen and learn about your specific needs and goals. From there, we advise you on the best dental practice loan options, collect financial documents and start the underwriting process. Contact us to learn more.

Transactions that we have identified as potential fraud, including transactions outside your normal activity, trigger the alerts. It's important that you respond to these alerts to avoid unnecessary account disruption.

Home equity loans and home equity lines of credit (HELOCs) share many similarities. Both allow you to secure a loan based on the appraised value of your home, and both loans may also be referred to as a second mortgage. However, home equity loans and HELOCs also have several distinguishing factors. 

The following features are unique to a home equity loan:
  • With a home equity loan, you can apply for the precise amount you want to borrow. Your loan will be calculated based on your home’s equity.
  • You’ll receive a fixed interest rate that doesn’t change throughout the life of your loan.
  • After you’re approved for a home equity loan, you’ll receive a single lump-sum distribution without the option to obtain additional funds.
The following features describe a home equity line of credit:
  • HELOCs offer a revolving source of funds that you can borrow from as often as needed, as long as you don’t exceed the credit limit.
  • You can draw as much or as little money as you need from your HELOC, and you’ll only pay interest on the money you use. 
  • Similar to a credit card, HELOC funds become instantly available for use again as the money borrowed is repaid.
  • HELOCs often include a variable interest rate that may fluctuate over the life of the loan.
 
You can use online banking to transfer your payments monthly or set up automatic recurring transfers. Log in to online banking and navigate to the “Pay and Transfers” tab. Under “Loan Payments,” select “Make a Loan Payment.” Add the account you wish to pay from and choose the account that is to receive the funds. Click “Continue” and select if you would like to make a regular payment or one with additional funds to reduce the principal. Finally, select the date the payment is to be made.

A threshold amount alert is the dollar amount that, if exceeded, will trigger an alert. If a transaction exceeds your defined amount, an alert will be delivered to your mobile device.

Visit your local banking center with a valid ID and speak with a banker, or call customer service at 1.800.205.3464 to update your address.

Typically you should receive a text message within a few minutes after enrolling, however sometimes mobile carriers experience delays which slow down text message delivery. While waiting, make sure your phone has a wireless signal. In addition, be sure you entered the correct phone number on the enrollment site. After waiting a few minutes if you still have not received your text message, try sending the activation code. If you still do not receive a text message, contact your wireless carrier to be sure text messaging is enabled on your phone.

Contact Customer Service at 1.800.205.3464.

Simply respond back to the SMS text alert with the word STOP. Remember: U.S. consumers who have service through AT&T, Verizon, Sprint, and T-Mobile will not be charged message or data rates for our fraud alerts.

Use transaction types to control which types of transactions are permitted. For example, if you do not often travel internationally, you can disable international transactions until required.

Yes. The statement will appear just like your paper statement, only it will be in a PDF format.

Card-on-file (COF) merchants that keep your card numbers on file for recurring payments may include phone companies, cable services, utilities, music subscriptions, magazine subscriptions, gym memberships, insurance companies, recurring charitable donations and more.

  • In order to receive and activate your new card, we must have your correct address and phone number on file. To verify your contact information, please call Customer Service at 1.800.205.3464.
  • Once you receive your new card, be sure to activate it right away. Your current debit card may be deactivated soon, even if you haven't yet activated your new card.
  • Your card number is changing, so you will need to update any recurring payments that use your card number.
  • You'll choose a PIN during card activation, so you can select the same PIN if you'd like.

Once the alert is updated in our fraud system, you can attempt the transaction again, usually within 5 – 10 minutes of the initial call/text/email to validate activity.

It’s easy — Zelle is already available in your mobile banking app! Check your app and follow a few simple steps to enroll with Zelle today.

No. Checks or items that are drawn or otherwise issued by the U.S Treasury Department are not accepted through mobile deposit. You will need to go to one of our nearest banking center locations to deposit a U.S. Treasury Check.

Checks deposited prior to 9 p.m. ET on a business day will appear in online or mobile banking the next day. Deposits made after 9 p.m ET will be considered as deposited on the next business day. If your deposit is rejected for any reason, you will be notified by phone. Mobile check deposits are subject to review prior to acceptance.

For instance:

  • Deposits made at 3:00 pm ET on a Tuesday will be displayed in online and mobile banking on Wednesday morning.
  • Deposits made at 10:00 pm ET on a Tuesday will be considered deposited on Wednesday and therefore displayed in online and mobile banking on Thursday morning.
  • Deposits made on Saturday will be visible on Tuesday morning.
First Merchants maintains a comprehensive Security Center including fraud prevention tips as well as current alerts. Read more about Preventing Online and Mobile Fraud.

Yes. To Enroll another Mobile Device, log in to Online Banking and select 'Manage mobile banking settings' under the Customer Service/Administration tab.

If you need to send money or make a payment quickly, consider an Expedited Payment/Overnight Check Delivery. This service within Bill Pay supports payments to both businesses and individuals who do not accept electronic payments. Payment instructions received by 2:00 p.m. will be processed for delivery the next business day. Fees apply.

Yes, just swipe the button next to each debit card to select your card.

First Merchants Bank’s online mortgage center helps homebuyers evaluate and find the best mortgage solutions based on their lifestyle, budget and goals. Our mortgage loan officers guide you through every step of the borrowing process, so you can confidently choose a better mortgage that fits your financial needs. Popular mortgage solutions include 30-year and 15-year fixed rate mortgages, adjustable rate mortgages and construction loans.

$5,000 per transfer, per business day.

To dispute a charge, visit your local banking center or call customer service at 1.800.205.3464 to file a dispute. However, please note that you may need to follow up at the banking center.
Financial planning is important because it helps you effectively manage income and investments to build wealth and meet future financial goals. The financial planning process involves evaluating current spending, recurring income and investments, and takes into account how much money you’ll need to cover future expenses and inflation. Financial planning aims to provide financial security through calculated money management strategies and acts as a guide to meet prospective goals.
Private banking clients receive specialized portfolio mortgages to finance home purchases. Private bankers work in conjunction with mortgage experts to assist prospective home buyers and evaluate how a real estate purchase fits within their overall wealth management goals. This private banking and mortgage officer team also helps clients gain access to competitive financing options and provides insights to streamline the mortgage application process.

 

Once approved for a HELOC, you can access funds through various methods. Your options include the following:

  1. Credit line equity access checks or credit card: You may access funds via credit line equity access checks or credit card transactions. The transaction must use the equity access checks or card associated with your HELOC.
  2. Online: Simply log in to your online banking account and easily transfer money from your HELOC directly into your checking or savings account.
  3. Telephone request, request by mail or in-person request: Customers may call the bank, mail a request to the bank or go into a branch to request available HELOC funds be transferred into their checking or savings account.

Online Banking works best with the latest versions of Internet Explorer, Safari, Firefox, or Chrome browsers. Other browsers have not been tested for compatibility and may display some content incorrectly. Please note that JavaScript must be enabled for full functionality. If you experience any issues, please contact Customer Service at 1.800.205.3464.

No, you don't need a deposit slip when using Mobile Deposit. You'll enter the deposit amount within the Mobile Deposit app.

Private banking provides affluent individuals and families access to exclusive financial services with preferred interest rates. Private banking clients receive customized, long-term, personal attention from their private banker as they establish, pursue and modify financial goals and strategies. This holistic approach offers direct access to tailored financial guidance through a single point person for banking solutions in personal cash management and specialty lending options.

The international alert is similar to the transaction type alerts, but is a category of its own. It can be set to on or off. If International is enabled, an alert will be delivered any time the card is used in a transaction outside of the registered country.

When setting up a financial plan, you should design a strategy to meet your investment goals using the following methodology: 
 
  1. Create a budget. This will help lay a foundation to guide all future financial planning. 
  2. Ensure your financial plan accounts for all applicable taxes on your cash flow. 
  3. Set aside money for an emergency fund. Reserve money for emergencies that could arise before and during retirement. This could help cover car repairs, home maintenance and medical treatment.
  4. Invest beyond your 401(k). Set aside a separate banking account for savings. Consider a Roth IRA. 
  5. Manage your debt so you can retire debt-free., so that upon retirement you are starting with a clean balance.

Yes! They will receive a notification via email or text message.

Zelle® is a great way to send money to family, friends, and people you are familiar with such as your personal trainer, babysitter or neighbor.1

Since money is sent directly from your account to another person's bank account within minutes1, Zelle® should only be used to send money to friends, family and others you trust.

If you don't know the person or aren't sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle®. These transactions are potentially high risk (just like sending cash to a person you don't know is high risk).

Neither First Merchants Bank nor Zelle® offers a protection program for any authorized payments made with Zelle®.

Our First Merchants Mobile apps are available in the App Store, Google Play, and the Amazon Appstore for compatible devices.

You must have text capabilities to use Text Banking (personal customers only) and web access to access Mobile Web. A text messaging and/or data plan is typically needed, as data usage can become expensive without them. Please check with your wireless carrier for more information, as your wireless carrier's standard charges for text and data usage apply.

We recommend you bookmark www.firstmerchants.com to take full advantage of our integrated sign in box and to access the rest of our online content.

No, you must be enrolled in Online Banking or Business Online Banking before you can use Mobile Banking.

Most transactions will be denied while your card is disabled, however, any recurring payments that you have established using your debit card number will be allowed through for processing (e.g. Netflix, etc).

No extra costs or fees are associated with your new card, and you will enjoy the same benefits with your new chip card as you do with your current debit card.

Yes, we offer up to 100% financing based on cash flow and type of loan. We’ll be able to advise you on the best veterinary practice financing options after getting to know you and your goals.

Yes, you can continue to use your card for all the same transactions you have in the past.

Personal or business checks made payable to you are eligible for mobile deposit with the following exceptions:

  • Canadian and other foreign items
  • Substitute checks
  • Savings bonds
  • Draft items
  • Items dated more than 6 months prior to the date of deposit
  • Items payable to any person or entity other than yourself
  • Items made payable to more than one person or entity
  • Items containing an alteration to the front or back of the check
  • Items you know or suspect are fraudulent
  • Remotely created checks as defined in Reg CC
  • Items requiring any restrictive endorsement
  • Previously deposited items

In most cases, if you make your mobile deposit before 9 p.m. ET on a business day, 100% of your funds will be available the next day.  For deposits made after the cutoff or on a non-banking day, the item will be considered as deposited on the next business day.

However, all mobile deposits are subject to review and thus longer delays may apply. We will notify you if we delay your ability to withdraw funds and we will tell you when the funds will be available.

You have the option to retake photographs of the check before submitting or you may cancel the deposit. Also, the system will notify you if the image is unclear for processing. If you are unable to photograph a clear image, please take your deposit to a banking center or deposit-accepting ATM for processing.

You can use Bill Pay to quickly set up and pay your bills easily and securely; just click on Pay and Transfer > Pay Bills to get started.

To pay your bills online, you simply add the companies and people you want to pay. You can pay anyone in the United States that you would normally pay by check or automatic debit. Even if you do not receive bills from the company or person you want to pay, you can add the information we use to make the payments.

  1. Add a bill. Tell us who you want to pay by entering a person or business name, clicking Add, and adding the information we use to make your payments. You can also add an electronic bill or eBill from billers that can send them.
  2. Pay a bill. To pay a bill, find it in your bills list and enter the amount and date for the payment. You can also view your pending and recent payments.

Quick Facts About Paying Your Bills

  • You only have to add the companies and people you want to pay once. The company or person remains in your list of bills until you delete the biller.
  • You can set up reminders to receive notification when a bill is due, or autopay to pay at regular intervals.
  • When you enter a payment amount, Bill Pay automatically displays the earliest date the biller will receive the payment. You can accept this date or change it.
  • You can make an expedited payment to some billers by sending a check through an overnight delivery service.
  • You can edit or cancel payments (except for expedited payments) until they process.

Users may download our Mobile App from the App Store, Google Play, or Amazon Appstore.

Rates change frequently, so please contact us for current dental practice loan rates.

Yes, once you're signed in to Online Banking, you can change your ID under Customer Service > Change User ID. The ID can be changed to any available ID that meets the requirements (8- 32 characters, must include at least 2 letters and 2 numbers, maximum 5 change attempts per day, cannot reuse a user ID, must be different from your password).

Once you're signed in to Online Banking, you can view cleared transactions by clicking on the name of the account you'd like to see details for, or by choosing Account Activity under the Accounts tab. The Pay and Transfer tab options enable you to view scheduled, pending, and cleared transactions for a selected account.

We are unable to send text or phone calls internationally, but please make sure your email address is current, as we can still email you.

By definition, private banking is a personalized service typically limited to individuals of verified high net worth and/or personal cash flow who require specialized banking services, including depository and custom lending solutions. Commercial banking serves a much wider clientele and provides services and solutions to business clients.

Definitely. A dental or veterinary practice loan to refinance debt can be a great way to improve your cash flow. Ask a practice finance banker how to get started!

If you’re wondering when to refinance your mortgage, compare current mortgage rates to your existing mortgage rate. If you can lock in a significantly lower rate and still save money after closing costs, that’s when you should consider refinancing a mortgage. You should also evaluate refinancing based on how much longer you intend to stay in your home. When mortgage rates drop significantly, refinancing your home mortgage can allow you to lower your monthly payments, shorten the loan term or borrow cash against your equity while securing a better interest rate on your home loan.

Switching to eStatements has several benefits including:

  • More secure than paper statements
  • Faster delivery with easy access
  • Helps keep you organized
  • Environmentally friendly

Your User ID is the same as the User ID you established for Online Banking.

Up to 18 months of transaction history is available in Business Online Banking. You can access account history and search transactions with the Reports/Activity-deposit accounts function.

Automatic payments will be declined and merchants may charge a late fee.

If you don’t know the person, or aren’t sure you will get what you paid for (for example, items bought from an online bidding or sales site), you should not use Zelle® for these types of transactions.

These transactions are potentially high risk (just like sending cash to a person you don’t know is high risk). Neither First Merchants Bank nor Zelle® offers a protection program for any authorized payments made with Zelle® – for example, if you do not receive the item you paid for or the item is not as described or as you expected.

Create a region by zooming in and out on the map or by entering search criteria. Although the visible area on your map is square, the region is contained within a circle. The areas within the corners of your map are included as part of the region.

No, you do not need to resubmit your deposit. If you entered the wrong amount for the deposit, our operations center will correct the deposit amount.

Items not eligible to be deposited via mobile deposit can be taken to a banking center, mailed to a banking center or mailed to a banking center office.

Yes, once your deposit clears, it will be available in your transaction history. You may also view your Mobile Deposit history in the First Merchants Mobile app.

The first step in financial planning is securing a Certified Financial Planner (CFP) to help determine your financial net worth and financial goals. From there, a financial advisor works with you to create a plan of action to meet your future monetary needs and identify steps you should take to address immediate financial concerns, such as high-interest debt. A financial planner can also help you establish a monthly budget that tracks expenses, savings, spending habits and income.

Virtual Meetings

We provide the ability for you to connect with us in the medium that makes the most sense for you and your schedule. For clients that are conducting virtual meetings through video conferencing with First Merchants, you can download the video call instructions below.

Skype video call instructions for clients

Microsoft Teams video call instructions for clients

The “Contact Us” feature under the Administration tab allows you to send/ receive secure messages to/from the bank. You can submit requests to add or delete accounts, maintenance, photocopy requests, etc.

Each time you log in to First Merchants Mobile Banking, the most current balances will be displayed.

Yes. Assuming your home’s appraised value is at least 20% greater than the outstanding balance of your home’s original mortgage amount.

Use transaction type alerts to control which types of transactions trigger an alert. For example, if you do not often make online purchases, you could enable eCommerce to receive an alert when an enrolled debit card is used in an online transaction.

If you have recurring payments or a cards-on-file set up with a merchant(s), if account changes are made to your account—for example, a debit or credit account number has been changed or an expiration date has been updated—you may forget to advise merchant(s) about the changed account information, which could cause recurring payments to be declined. The Mastercard ABU Service allows the updated information to be provided to participating merchants on your behalf resulting in fewer declines. The service provides a convenience to you so you do not have to contact each merchant with your updated card information.

Mortgage amortization is the process by which a home loan is separated into a series of fixed monthly payments. Mortgage amortization can help borrowers calculate how much of their payments are being put toward interest and principal.

The length of time it takes to pay off a home mortgage depends on the specific loan terms. First Merchants offers several mortgage solutions, including a 15-year mortgage and a 30-year fixed mortgage. Shorter mortgage terms typically come with a higher monthly payment, but the homebuyer pays less interest over the life of the loan.

Homebuyers also generally have an option to select an adjustable rate mortgage, which includes an interest rate that adjusts with the marketplace. Adjustable rate loans typically start off with lower interest rates, but they increase with time. 

First Merchants offers a number of guides, how-to videos and FAQs designed to support you, whether you’re enrolling and logging in for the first time, or learning to pay a friend with your mobile device using Zelle. If you need help, schedule an appointment or call 1.800.205.3464.

To view your eStatement, simply sign in to Online Banking, then choose 'eDocuments' under the 'Accounts tab' (personal users) or 'View eStatements' under the 'Reports' tab (business users). Once enrolled, you can view up to 18 months of eStatements! You will need Adobe Reader to view your statement. If you do not have Adobe Reader, you can download it here for free.

Click here for enrollment instructions for personal users, or here for business users.

Log in to online banking and go to the “Accounts” tab. Select “eDocuments and read through the Terms and Conditions located at the lower half of the page. Copy the code listed at the bottom of the terms and enter the code in the “Confirmation Code” box at the top of the page. You will then be registered for eStatements. Open at least one statement to verify all eStatements have been created.

Items we receive by 9 p.m. ET

A mortgage loan officer works for a bank or mortgage company and assists customers who apply for a home loan. Mortgage loan officers stay updated on the latest mortgage news and use their expertise to evaluate and authorize approval of mortgage loans. Mortgage loan officers help customers choose loans that best fit their financial situation and then help them complete the application process. Mortgage loan officers also serve as a borrower’s main contact throughout the home loan process.

A line of credit offers a preset loan amount, or credit limit, that you can access at any time and use as needed, only paying interest on the money you choose to withdraw. Once approved for a line of credit loan, you can access the money through a bank card, checks, online transfers or branch withdrawals. You can repay a line of credit loan through flexible terms over a period of time, or all at once.

'Once, now' transfers between your First Merchants accounts will affect your available balance and appear in account history immediately as a pending item. Settlement of the transfer will occur the next business day if the transfer is after 9 p.m. ET or on a non-business day.  Scheduled or recurring transfers will be processed and appear the morning of the date scheduled.

First Merchants Mobile apps for personal and business users are available in the App Store for iPhone, iPod touch, and iPad, Google Play for Android devices, and the Amazon Appstore for Kindle Fire.

With tradition lending, bankers typically perform a cash flow analysis as the foundation for providing a loan. However, with ABL, the company’s collateral or assets which serve as collateral are the primary emphasis with underwriting, more so than cash flow leverage.

If we have a mobile phone number on file for you, we'll send a text alert first. If we do not receive a response, our system sends an automated voice call asking you to confirm if authorizations are valid or unrecognized. If you select “Not Recognized,” the call is transferred to an agent to confirm the fraudulent transaction(s). If there is no response to the text or voice call, an email is sent requesting that you confirm the transactions are valid.

We provide practice finance services throughout the Midwest. Please contact us if you have questions about your location.

The components of a financial plan include a retirement strategy, risk management plan, estate plan and long-term investment plan including 401(k) and IRA.
 

Asset based lending is a specialized loan product, including both formula ABL and stretch ABL. Loans are based on the assets pledged as collateral and are structured to provide a flexible source of working capital, and in some instances, fixed asset financing, by monetizing assets on the balance sheet. 

First, we listen and learn about your specific needs and goals. From there, we advise you on the best veterinary practice loan options, collect financial documents and start the underwriting process. Contact us to learn more.

Definitely. A dental practice loan to refinance debt can be a great way to improve your cash flow. Ask a practice finance banker how to get started!

All transfers received after 9 p.m. ET will be processed on the next business day.

Use merchant types to permit or restrict your debit card from being used with specific categories of merchants, such as restaurants and department stores. For example, you can enable the merchant types for groceries and fuel for everyday purchases, but disable entertainment and travel until required.*

*When you place a merchant type control or alert, it is subject to MasterCard definitions and limitations. If you have questions, please contact Customer Service at 1.800.205.3464.

SMS stands for Short Messaging Service. It is also called text messaging.

Yes. You must agree to the Terms and Conditions in order to use Mobile Banking.

eStatements will be available in your online archive for 18 months.

Financial planning helps you determine your short- and long-term financial goals and create a balanced plan to meet those goals. 
To prepare your business for future financial success, you must develop and maintain a financial plan. Financial planning for a business allows you to analyze your current financial status and measure growth. This plan will allow you to measure how well the company performed. Your business’s financial plan should also have room for variables such as economic fluctuations, employee growth and new business ventures.

You can send, request, or receive money with Zelle®. To get started, log into your mobile banking app and Tap "+" at the bottom of the screen, then select the Zelle® icon. Following the prompts, enter the information requested, accept the terms and conditions, and you’re ready to start sending and receiving with Zelle®.

To send money using Zelle®, simply select someone from your mobile device's contacts (or add a trusted recipient's email address or U.S. mobile number), add the amount you'd like to send and an optional note, review, then hit "Send." The recipient will receive an email or text message notification via the method they used to enroll with Zelle®. Money is available to your recipient in minutes if they are already enrolled with Zelle®.

To request money using Zelle®, choose "Request," select the individual from whom you'd like to request money, enter the amount you'd like, include an optional note, review and hit "Request". If the person you are requesting money from is not yet enrolled with Zelle®, you must use their email address to request money. If the person has enrolled their U.S. mobile number, then you can send the request using their mobile number.

To receive money, just share your enrolled email address or U.S. mobile number with a friend and ask them to send you money with Zelle®. If you have already enrolled with Zelle®, you do not need to take any further action. The money will be sent directly into your First Merchants account, typically within minutes.

If someone sent you money with Zelle® and you have not yet enrolled with Zelle®, follow these steps:

  1. Click on the link provided in the payment notification you received via email or text message.
  2. Select First Merchants bank.
  3. Follow the instructions provided on the page to enroll and receive your payment. Pay attention to the email address or U.S. mobile number where you received the payment notification - you should enroll with Zelle® using that email address or U.S. mobile number to ensure you receive your money.

Our practice finance team can help you with both. We find that many practice owners benefit from having an operating line of credit.

Yes, Online Banking allows you to view the front and the back of each deposit ticket.  If you would like images of your deposited items please contact a Treasury Management Officer for further details on positive payremote capture or other  business receivables solutions.

Text Banking Commands
Financial planning involves assessing current pay and assets, then determining future financial needs and figuring out the best investment approach to accomplish financial goals. Financial planning for individuals and organizations entails evaluating the most appropriate investments based on risk tolerance and timeframe, while gauging economic circumstances that may impact those investments. Main aspects of financial planning include retirement planning, long-term investment management, risk management, personal trust and estate planning.
To add text banking, log in to online banking. Under the “Customer Service” tab, select “Manage Mobile Banking Settings and Add Text Banking.” To enroll your mobile device, select your mobile carrier and enter your mobile phone number. View and accept the terms and conditions and click “Enroll.” Select “Continue” to activate text banking. You will then receive a text message for confirmation. Reply with the activation code on screen to complete the enrollment.
To sign up with direct deposit, use routing number 074900657 along with your account number. You can also provide your employer with a voided check if accepted.

There are multiple ways you can access your Home Equity Line of Credit funds. Credit Line Equity Access Checks or Credit Card—access your funds via credit line equity access checks or credit card transaction using the Equity Access checks or card associated with your HELOC.

  • Online—Simply log in to your online banking account and easily transfer money from your HELOC directly into your checking or savings account.
  • Telephone Request—Call customer service at 1.800.205.3464 to request a credit advance from your Credit Line be applied to your designated account.
  • Request by Mail—Mail a request to your local banking center.
  • In-Person Request—Visit your local banking center to request a credit advance.

Yes. You can request to opt-out of this service by calling 1.800.205.3464, Monday through Friday from 7:00 AM to 8:00 PM ET and Saturday from 9:00 AM to 3:00 PM ET.

Yes, First Merchants offers tablet-optimized Mobile apps for iPad and Android tablet users that are available from your tablet's mobile browser.

When you use a non-phone device, such as tablets and MP3 players that are Internet-enabled and a phone number is requested, enter a phone number you can easily remember, such as your home phone or office phone.

The key step in financial planning is creating a financial plan that outlines your goals and strategic investment strategies to ensure future financial security. To create a financial plan, evaluate current assets and debt, set specific goals, and decide how to redirect current spending toward reaching those goals, such as investing and budgeting. Also account for the future costs of insurance premiums, taxes and retirement, and set up a dedicated savings or emergency fund. A Certified Financial Planner (CFP) can assist in creating and maintaining your financial plan, so you stay on track as life circumstances change your financial situation over time.

To navigate, access the menu and choose an option.

For a copy of your monthly bank statement, visit your local banking center or call customer service at 1.800.205.3464. You may also access statements in online banking. Under the accounts tab you’ll see tabs for “eDocuments” and “eStatements.”
Private banking is an advisory and execution service for high net worth individuals seeking tailored depository and financing solutions. Wealth management, by comparison, provides advice and execution of investments for clients. Clients can access wealth management services at First Merchants regardless of their net worth.
To order a new First Merchants debit card, visit your local banking center. To reorder a debit card, visit your local banking center or call customer service at 1.800.205.3464.

The card is just like your current debit or credit card, except it is embedded with a microchip on the front. Each time you use your card at a chip-enabled register, the chip creates a unique one-time code, adding an additional layer of fraud protection.

The short code for First Merchants Text Banking is 49794. Send all text banking requests to this number. Note: First Merchants may send you messages from other numbers for other services, such as login authentication, People Pay notifications, or alerts.

Wealth management refers to a more comprehensive array of services — covering not only the purchase, monitoring and withdrawal of investments within a portfolio, but other aspects of a client’s financial dealings and overall financial health. In addition to investment management, wealth management for an individual might include retirement planning and the administration of trusts and estates to minimize taxes, whereas wealth management for a business might include the administration of 401(k), profit-sharing and pension plans.

If your deposit is rejected, we'll notify you via email.

If the item exceeds your daily Mobile Deposit limit, you may be able to deposit it later using the First Merchants Mobile app. If the item is valid but doesn't meet the Mobile Deposit requirements, you'll need to either visit a banking center or mail the item with a deposit slip to a banking center.

You can block your debit card from being used internationally by enabling the Block International option on the Location Controls screen. Blocking international transactions will disable all set regions.

The process of getting a mortgage can differ by lender. To apply for a mortgage, look for lending institutions with the best rates and terms to meet your financial needs. The lender will collect information about your income, employment, assets, credit score, and debt information before pre-approving you for a loan. Once your offer has been accepted on a home, you’ll work with the lender throughout the mortgage process until the final closing day.

Your new card with have a rectangular gold microchip on the front of the card. Plus, your card will feature our new, chip-friendly design.

Your Password is the same as the Password you established for Online Banking.

The first step in developing a financial plan is to determine your short- and long-term goals. Before finalizing these goals, you will need to assess your current income, debt and emergency fund. After assessing these items, you can adjust where your assets are divided in order to plan for retirement.
To request a refund, visit your local banking center or call customer service at 1.800.205.3464.

Our Customer Service area is happy to help. You can reach them at 1.800.205.3464.

Managed investments, more typically called managed accounts or managed funds, represent investments or collections of investments supervised by one or more financial professionals hired by an individual or business entity. In this kind of investment management, professionals take on the legal responsibility and authority to act in the best interests of either a single investor or a group of investors. Managers may buy or sell assets without checking with clients first, but they usually issue regular reports to keep clients aware of how managed investments perform. A popular kind of managed investment is a mutual fund.

Our First Merchants Mobile apps are available for Apple or Android phones and tablets. If you can text from your phone, you may use it for Text Banking (personal customers only).

If the same deposit is submitted twice, it will be identified and stopped by our process. Should this occur, you will receive a declined deposit notification for the second deposit received through the Mobile Deposit service.

Stretch ABL is a credit facility where the revolving credit (e.g. line of credit) is governed by formula ABL advance rates and controls, but a portion of the financing embedded in the term loan is under-secured based upon application of an appropriate asset-based lending advance rate to fixed asset collateral. 

If you already have a debit card with us, we'll issue you a new, chip card between 6/1/16 and 12/31/17.  Debit cards linked to personal checking accounts will be issued first. Business cards and HSA cards will be reissued in 2017. New accounts, and replacement cards for lost or stolen ones may be reissued as chip cards at our discretion.

The embedded chip in your new card generates a unique, one-time code required to approve each transaction. This “dynamic” code makes it virtually impossible for fraudsters to copy or counterfeit your card. While magnetic stripe cards offer protection from unauthorized use of your card or account information, chip offers a new layer of security.

From firstmerchants.com, simply select the correct service from the sign in box’s dropdown menu. You’ll be taken to that service’s sign in page to begin the login process.

 

A merchant category is assigned based on the merchant’s primary line of business by the card processor.*

*When you place a merchant type control or alert, it is subject to MasterCard definitions and limitations. If you have questions, please contact Customer Service at 1.800.205.3464.

Absolutely, this is one of our primary focuses. Our practice finance team can also help you refinance or consolidate debt and finance your commercial real estate. 

Checking, Savings, Loan and CD accounts are available on Business Online Banking.

If you are currently receiving check images with your statement, you will continue receiving those images if you are an eStatements customer.

By definition, financial planning involves evaluating current pay and assets, then determining the future financial needs and goals for a person, family or organization. Through financial planning, you make strategic decisions on how to meet those financial goals and project the results of the decisions. A financial plan can focus on the short term, which offers a higher degree of certainty than long-term plans that must account for market fluctuations. Solid financial planning aims to meet a combination of short-, intermediate- and long-term goals.  

If you believe that you are a victim of identity theft with respect to any of your accounts or transactions with us, please notify us through any of the following channels:

  • Your local banking center
  • Your business account representative
  • Customer Service at 1.800.205.3464

Please provide as much detail as possible about the accounts or transactions in question including dates and account or transaction numbers along with any additional information you may be aware of.

Read more about reporting fraud.

Yes, assuming that the sum total of your first and second mortgages are less than or equal to 80% of your home’s appraised value.

Absolutely, this is one of our primary focuses. Through practice finance, we also help dentists refinance or consolidate debt and finance their commercial real estate. 

First Merchants Text Banking is free of charge, however, your wireless provider’s standard text messaging and other rates may still apply.

Ensure your device's browser has cookies enabled. In addition, enable style sheets for the best viewing experience.

We have already included you in these enhanced services as part of our fraud protection services. However, in order to receive Text Fraud Alerts, we must have a mobile number on file for you. If we don't have a mobile number on file, we'll try calling or emailing you instead. To update your contact information and ensure your correct mobile number is on file, contact Customer Service at 1.800.205.3464 or Treasury Solutions at 1.866.833.0050.

A threshold amount is the maximum dollar amount for a point-of-sale transaction. If a transaction exceeds your defined amount, the transaction is declined.

Whether you should consider an online mortgage depends on what you value most. Generally, borrowers considering an online mortgage rank convenience and speed as top priorities when financing a home purchase.

Many banks with brick-and-mortar locations also serve as online mortgage providers, giving buyers the option to complete the process remotely or in person. When choosing whether an online mortgage is right for you, it comes down to personal preference. Get started with an online application today.

Yes. During the deposit process, you will be required to photograph the front and back of your check.

Financial planning helps you map out your financial future. It empowers you to establish goals and stick to them. Building a financial plan can simplify the process of making investment decisions that could grow your wealth. As you advance in your career, you may feel compelled to contribute more to your 401(k) or IRA to prepare for retirement, although financial planning isn’t limited to retirement. Financial planning can also help you pay down debt and save on interest fees. 

The One-Time Security Code will be required the first time you log in to the system and each time you log in with a different device. You will be prompted to initiate a phone call or text and receive a one-time code that you will input to access the system.

  • We recommend using the Phone option the first time you log in. Select a phone number and click Continue. The system will display a code that you will provide either verbally or with your phone's keypad when the call is received.
  • If you choose the Text message option, you will enter the one-time code in Business Online Banking that will be sent in a text from Short Code 32858.
Investment management is the daily management of a financial portfolio. Investment banking is a service that helps individuals and companies raise money and free up cash flow. Investment banking can help increase a client’s liquidity. This process often involves performing financial analysis, portfolio allocation, equity research and buying and selling financial recommendations.
No, at First Merchants, Zelle® payments are available for personal account types only.

In order to use Zelle®, the sender and recipient's bank or credit union accounts must be based in the U.S.

Use merchant type alerts to receive an alert whenever the enrolled card is used with specific categories of merchants, such as restaurants and department stores. For example, you can disable the merchant type alerts for groceries and fuel for everyday purchases, but enable alerts for entertainment and travel.

Yes, you simply access Debit Card Controls through the First Merchants Mobile App and disable the card. Once the card has been found, you can enable it again.

First Merchants Bank routing number is 074900657 .

Yes. Your home must be appraised. First Merchants Bank will hire an appraiser to determine your home's fair market value.

Visit firstmerchants.com and select “Enroll Now” under “Sign in to Online Services” at the top left of the page. Select the type of account you wish to add to online banking and agree to the terms. Click “Continue” and enter your account information. If you are having trouble signing up, you can also visit your local banking center or call customer service at 1.800.205.3464.
To select a lender to provide the best home equity loan for you, start by comparing offers from several lenders. Your local banking center is a great place to start. Make sure you compare all aspects of the loan options offered, such as terms, rates and any associated expenses like closing costs and application fees. Ask questions about any terms you don’t understand, so you can decide which loan offer best meets your needs.

In most cases, eligible accounts will automatically be signed up for Mobile Deposit. If you have an eligible account that has not been enabled, please call us at 1.800.205.3464 for assistance. Please note that savings accounts are not eligible for use with the Mobile Deposit service.

There are a few differences between a jumbo mortgage and a balloon mortgage such as length of term, interest rates and payment terms.

A jumbo mortgage is a type of home loan used to finance properties that are significantly more expensive than the average home. Jumbo mortgages are generally reserved for affluent buyers who purchase a home worth more than $548,250. On average, interest rates and down payments are higher, and jumbo mortgages are generally paid off in equal monthly payments. They can have 15- to 30-year terms.

Balloon mortgages typically carry lower interest rates and monthly payments than jumbo loans. Unlike a jumbo mortgage, balloon mortgages require borrowers to pay off the remainder of their loan as a lump sum payment at a predefined time, typically toward the end of the term. A balloon mortgage can last from three to 30 years. 

We provide dental practice financing in 22 states throughout the Midwest and Southeast. Please contact us if you have questions about your location.

Occasionally, an eligible item cannot be accepted for mobile deposit due to a lack of image compatibility. This can happen with poor lighting or due to a busy background of the check. If possible, try to deposit again with different lighting conditions. If the item is still not accepted, please utilize other channels to deposit your item.

Keeping your money and information safe is a top priority. When you use Zelle® within our mobile app or online banking, your information is protected with the same technology we use to keep your account safe.

Yes, please call Customer Service at 1.800.205.3464 if you'd like to request a chip card now. However, this is not necessary; your current card will still work; chip-enabled terminals still include the option to use non-chip cards.

Asset management is a service to help individuals reach financial goals by directing their wealth and investments, including personal assets outside of traditional investment securities (house, car, etc.). Asset management is a holistic term of which investment management is a component. Investment management is the service of buying, selling and managing financial assets and other investments. These two services can help a client reach their investment goals within a projected timeframe.
Your email address or U.S. mobile phone number may already be enrolled with Zelle at another bank or credit union. Call our customer support team at 1-800-205-3464 and ask us to move your email address or U.S. mobile phone number from the financial institution where you initially enrolled to your desired bank account so you can use it for Zelle.
 
Once customer support moves your email address or U.S. mobile phone number, it will be connected to your account at the financial institution you requested so you can start sending and receiving money with Zelle.

We typically hold up to $25MM. We partner with our Debt Capital Markets team to syndicate a transaction when the financing need exceeds our target hold size. 

As a first-time homebuyer, you’ll need to take a few steps before you figure out how much you can afford to spend on your first home mortgage, and then get pre-approved for a mortgage loan. First Merchants Bank offers an online mortgage calculator, as well as an online pre-approval application process, both of which are designed to be quick and convenient. You also need to decide how much you can afford for a down payment, which may determine whether you choose conventional financing or an alternative, low down payment option.

A loan-to-value (LTV) ratio measures what you owe on your home versus the current appraised property value. Lenders consider your LTV ratio when you apply for a home equity product. If your LTV is 80% or lower, you’re likely to receive the best rate available.

No, there is no additional fee for utilizing mobile deposit.

You can use your MasterCard chip debit card everywhere MasterCard is accepted. (First Merchants credit cards can continue to be used wherever Visa or American Express are accepted, depending on the type of card you have.)

Merchants across the country are beginning to use chip technology during transactions. Go ahead and try to swipe your card if you're not sure the register is chip friendly. If it is, you'll be prompted to insert your card instead.

If the register is not chip friendly, you can still swipe your card as you always have; chip cards have both a chip and a magnetic stripe.

For phone or internet purchases, enter your card number and information as you have in the past; the chip won't affect this process.

A fixed rate HELOC is a home equity line of credit with an interest rate that a lender cannot increase or decrease during the term of the agreement. Fixed rate HELOCs are growing in popularity, but most HELOCs only offer variable rates, which fluctuate with baseline rates set by the Federal Reserve Board. A hybrid HELOC, also called a convertible HELOC, typically lets you convert HELOC debt into a fixed rate loan, often for a fee. That prevents rate fluctuations on what you already owe but not on what you might borrow going forward.
 
Note: Many lenders consider “hybrid HELOC” and “convertible HELOC” to be synonymous with fixed rate HELOC, so be sure to clarify how a lender uses the terminology.

You can take several different paths to refinance your mortgage. First, you need to determine your goal: Do you want to lower your interest payments, shorten the loan term, drop mortgage insurance or free up cash?

Next, you should shop for the best mortgage refinance rate for your goals. A loan officer can help you determine the best options for refinancing your mortgage. Next, you’ll need to select your lender. Once you lock in your interest rate, it’s time to close on the loan, which is a similar process to closing on your original mortgage.

Whatever your financial needs, an experienced mortgage loan officer can guide you through the process of how to refinance a mortgage.

Please call Customer Service at 1.800.205.3464 or Treasury Solutions at 1.866.833.0050.

We are generalists in nature, and there are no specific industries outside of our scope. However, our experience is primarily in manufacturing and service industries as well as value-added distribution businesses. With the right partner and a proven, well-established platform, we are open to a dialogue on any opportunity.

We prefer to work with businesses with at least a three-to-five-year track record of strong and sustainable free cash flow generation featuring defendable market positions. 

A home equity line of credit (often called HELOC and pronounced Hee-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house (akin to a second mortgage).

 A home equity line of credit works more like a credit card. You are allowed to borrow up to a certain amount for the life of the loan -- a time limit set by the lender. During that time you can withdraw money as you need it. As you pay off the principal, your credit revolves and you can use it again.

Yes, we offer up to 100% financing based on cash flow and type of loan. We’ll be able to advise you on the best dental practice financing options after getting to know you and your goals.

When prompted, simply insert your chip card face up in the terminal and leave the card there while the transaction is processed. To complete your transaction, just follow the prompts on the terminal. You will be asked to enter your PIN or sign if required. Once the transaction is complete, you'll be prompted to remove your card.

Some chip-enabled terminals may prompt you to enter a PIN, with no other option on the screen.

During text banking enrollment, personal users will receive up to 3 SMS messages. Thereafter, you will receive a message in response to each SMS request you submit. If you have a large number of accounts, you may receive more than one message in order to report all of your account balances.

First, we listen and learn about your specific needs and goals. From there, we advise you on the practice finance loans best suited for you, collect financial documents and start the underwriting process. Contact us to learn more.

You can find a full list of participating banks and credit unions live with Zelle® here.

If your recipient's bank or credit union isn't on the list, don't worry! The list of participating financial institutions is always growing, and your recipient can still use Zelle® by downloading the Zelle® app for Android and iOS.

To enroll with the Zelle® app, your recipient will enter their basic contact information, an email address or U.S. mobile number, and a Visa® or Mastercard® debit card with a U.S. based account (does not include U.S. territories). Zelle® does not accept debit cards associated with international deposit accounts or any credit cards.

Debit Card Alerts enable you to receive notifications of recent debit card transactions. You can activate or deactivate debit card alerts, set debit card alerts for specific types of merchants and/or transaction types, and select a threshold transaction amount for receiving a debit card alert.

Home construction loans and typical mortgages have several distinct differences. Though both types of loans can be used to secure financing for a home, lenders generally require home construction loan borrowers to make larger down payments. Lenders also typically have more stringent credit requirements for borrowers seeking a construction loan than for those applying for a typical mortgage.

The repayment term can also vary between the two home loans. Some home construction loans must be paid off in a year or less, depending on the type of loan the buyer secured, and standard interest rates are generally higher as well. 

The private banking relationship offered to qualifying clients extends a multitude of exclusive benefits. Private banking clients receive dedicated financial guidance and expertise for their overall personal balance sheet, exclusive cash management products, customized financing solutions and specialized mortgage options.

Contact Customer Service or Treasury Solutions if you've forgotten your user ID or password.

Borrowers may obtain a HELOC on owner occupied properties only. Examples of these are primary residences or vacation homes that are never rented or occupied by other individuals. Since a home equity line of credit offers flexible borrowing and repayment options, it allows you to withdraw the amount you need, when you need it. You could utilize a HELOC to increase the value of your investment property or to add to your property investment portfolio.
You can add a signer to your account by bringing him or her with you to one of our banking centers. The new signer will need to provide two forms of ID.
Simply navigate to the Refer a Friend website page. Use the form on this page to register. After you’re registered, you can invite your friends and family. Once your friend registers for the referral offer using your personal referral link and then opens a First Merchants Bank personal checking account with a deposit of $100 or more AND completes 15 debit card transactions (excluding ATM transactions) within 60 days of account opening, you will each receive a $50 Mastercard® Reward Card. The more friends you refer, the more you can earn – up to $500 per calendar year.

We provide veterinary practice financing in 22 states throughout the Midwest and Southeast. Please contact us if you have questions about your location.

Debit Card Controls are accessible in the First Merchants Mobile App:

  1. Log in to the First Merchants Mobile App
  2. Select “More” and choose “Debit Card Controls” (if you do not see this option, make sure that you have downloaded the latest update for the First Merchants Mobile App)
  3. Select your debit card

You should sign your check with the following endorsement: For Deposit Only Your Account Number Your Signature

Our dental practice financing team can help you with both. We find that many practice owners benefit from having an operating line of credit.

Yes, though please keep in mind that it could take 5 – 10 minutes for a block to be removed in some situations.

Using Mobile Web or our Mobile App, you can pay any existing payee you already established in Online Banking by clicking the payments option from the main menu. All new payees must be added from your Online Banking profile. Text Banking does not currently support bill payment.

The definition of a home equity line of credit, also known as a HELOC, is a loan that allows you to borrow against the equity of your home. A HELOC provides flexibility, because unlike borrowing and paying interest on one large lump sum, you decide how much you need and pay interest only on what you use. A home equity line of credit typically offers a lower interest rate than other loan products.

The Mastercard ABU service is required by Mastercard for all consumer and business credit and debit cards.

Your debit card settings will be updated immediately.

On applications that allow saving the User ID, you may save your User ID by selecting "On" when prompted. For enhanced security, the User ID will then be presented in the future in a masked format, hiding some of the characters. You may also remove the User ID, at a later time, by simply changing the prompt to "Off".

Investment banking is a broad set of financial services aimed at providing financial capital to businesses, facilitating mergers and acquisitions and helping shareholders of private companies to monetize or sell liquid ownership stakes. Asset management then provides the professional management of the liquidity created by business sale proceeds in constructing a portfolio of financial securities to meet specified financial objectives and income needs.

Definitely. A veterinary practice loan to refinance debt can be a great way to improve your cash flow. Ask a practice finance banker how to get started!

The term financial planning defines the process of determining financial needs and goals for the future, with a plan for how best to accomplish them. Financial planning involves finding the most appropriate investments and other wealth management activities, while gauging economic circumstances and adjusting the plan strategy in accordance with major life changes, such as illness or market disturbances. Financial planning should encompass a combination of short-, immediate- and long-term goals.

Absolutely, this is one of our primary focuses. Through practice finance, we also help veterinarians refinance or consolidate debt and finance their commercial real estate.

You may photograph multiple checks in the same mobile banking session; however you may only photograph one check per deposit.

Wealth management is a financial advisory service for individuals seeking assistance to manage and grow their wealth. Investment banking is a service that helps individuals and companies raise money and free up cash flow.

Rates change frequently, so please contact us for current rates on practice finance loans.

In order to create a successful financial plan, you need to identify specific goals. These goals should include detail and strategy for reaching them. Use the following process to build your financial plan:
 
  1. Pay off debt. Completely pay off all credit card or hospital debt. This will free up money to place in your emergency fund. 
  2. Create a plan for investment. It should include planning for your 401(k), IRA and any separate accounts that can help build savings.  
  3. Create a retirement plan. Identify how you want to live in retirement. Include budgeting for travel and other bucket-list goals, along with other expenses like health care and emergency costs. 
  4. Develop your tax plan. Figure out how you plan to pay for taxes on the money accrued in your 401(k) and IRA. Planning ahead on this can ensure you don’t have any large lump sum bills due as you enter retirement. 
  5. Create a plan for your home. Allocate money so that your home mortgage is completely paid off by the time you retire. Ensure you have money set aside for any home repairs, property taxes and other maintenance and ownership costs.
 
Home equity is the difference between your property’s appraised value and the amount you still owe on your mortgage, known as a loan-to-value (LTV) ratio. A low LTV percentage generally means you’ll receive a lower interest rate for a home equity loan or home equity line of credit (HELOC), although each lender calculates rates a little differently. You can work to increase your home’s value in a number of ways, such as paying off your mortgage early or making certain home improvements.

Mortgage points are an optional, one-time fee you pay your lender at the closing to reduce your mortgage interest rate. One mortgage point costs 1% of the mortgage loan amount. While mortgage points increase closing costs, a lower interest rate over the life of the home loan reduces monthly mortgage payments and the amount of interest paid. To really know if mortgage points are worth it, we recommend comparing the cost of the points at closing with the amount of anticipated savings in interest paid. This anticipated savings varies based on the amount of time you plan to stay in the home or whether you plan to refinance in the near future.

Yes, the mobile banking service utilizes best practices from online banking, such as HTTPS, 128-bit SSL encryption, password access and application time-out when your mobile device is not in use. Only the mobile devices that you personally enroll in the service can access your accounts. In addition, no account data is ever stored on your mobile device. In the event your mobile device is lost or stolen, you can temporarily disable a device from the Mobile Banking service at any time, or permanently remove it. Just log in to Online Banking and select 'Manage mobile banking settings' under the Customer Service/Administration tab. To learn more about security and what you need to know to protect yourself, click here.

Wealth management differs from financial planning in terms of the scope of money management offered and the average net worth of clients, although many services overlap. Wealth management advisors typically serve clients with a higher net worth who hold complex investments, such as trust funds and diverse stock portfolios. Financial planning focuses on basic investment strategies, such as a retirement plan and personal budgeting, to cover future expenses like health care and life insurance.
To find the best HELOC lenders, research online reviews and compile a list of your area’s top lenders by asking friends, family or your real estate agent for referrals. Narrow your list to two or three HELOC lenders after comparing fees, interest rates and repayment terms. If you’re uncomfortable shopping around for financial institutions, start with your current bank or a local credit union and compare rates. Because every borrower’s financial situation is unique, loan options other banks offer may provide a better fit for you than your current lender. When speaking to HELOC lenders at your preferred banks, share your goals and financial needs so they can assist you in determining the best HELOC option.

Potentially. It depends on a couple of factors such as your current mortgage interest rate, remaining mortgage term, etc. Consult one of our trusted lending experts for a free consultation.

Making a financial plan is the cornerstone of financial planning, as it creates the foundation for future success. Set well-defined fiscal goals and prioritize them. A financial plan should include a diverse array of short-term and long-term investments, if you’re serious about building wealth. Also include a debt payoff strategy in your financial planning, and establish a savings method for building an emergency fund to avoid a financial crisis.

Formula ABL is a fully collateralized credit facility, based upon asset-based lending advance rates, which utilizes ABL controls. 
 

This can be confusing to most because both Home Equity Loans and Home Equity Lines of Credit share some similarities, such as:

  • Both loans are secured by the equity the borrower owns in his/her home.
  • Both loans may be referred to as a second mortgage.
  • Both loans’ interest may be tax-deductible (consult your tax adviser).

Home Equity Loan

  • A fixed amount of money based on your home’s equity.
  • A fixed rate of interest over a fixed amount of time.
  • Single lump-sum distribution of the money with no option for the borrower to obtain additional funds.

Home Equity Line of Credit

  • A revolving credit limit based on your home’s equity.
  • The option to draw money at any time as well as multiple times, over a predefined time period.
  • The ability to draw money in any increments.
  • As soon as the principal is paid, the funds are instantly available for use again.
  • A variable rate of interest that may fluctuate over the life of the loan.

Many questions can be answered by clicking on the “How do I…”, “Terms”, or “FAQs” links at the bottom of each page or call Treasury Solutions at 1.866.833.0050 for assistance.

To help you stay safe at home, we’ve raised mobile check deposit limits for many clients. You can deposit checks – including your paycheck or government stimulus check – quickly and securely using the First Merchants Mobile Banking App. Watch this 90 second video to learn how to deposit a check using your mobile phone.
Access your mobile wallet on your phone and select the add card function. Add your First Merchants Mastercard® Debit Card by entering all necessary card information in the provided fields. If prompted, select a delivery method for receiving a one-time pass code. Enter that code and tap “Submit”. Once your card is added, you will receive an email confirmation. If no valid email is on file, you will receive a postcard in the mail.

Emails will be sent 24 hours a day. Texts will be sent from 7 a.m. to 10 p.m. in your local time zone. Calls will be sent from 8 a.m. to 9 p.m. in your local time zone. Texts and voice calls pending from the night before will be triggered the following morning at the applicable time noted above.

Loan to value (LTV) is a ratio comparing the amount of money a homeowner owes on his/her first mortgage versus the home’s current appraised value. Borrowers with higher LTVs usually pay a higher rate of interest because they are generally considered a greater risk of default than those with comparatively lower LTVs.

LTV is typically calculated as:

LTV  =  Mortgage Amount / Appraised Property Value

Your new card uses a microchip to provide greater security. Chip cards, now the global standard used around the world, are being introduced to give consumers more protection against fraud and theft.

Our veterinary practice financing team can help you with both. We find that many practice owners benefit from having an operating line of credit.

You can make updates to your First Merchants Mobile Banking device information by logging in to Online Banking and selecting 'Manage mobile banking settings' under the Customer Service/Administration tab.

No, keep the check until it posts to your statement. Afterwards, you may securely destroy the check after 7 days. Do not VOID the check after submittal in the event the deposit is not approved and needs to be re-submitted.

Consumers who are enrolled in  First Merchants online banking and mobile banking  who have a First Merchants Debit MasterCard.

An adjustable rate mortgage (ARM) on a home loan comes with a flexible interest rate that changes over the life of the loan. Some ARMs offer initial fixed interest rates for three, five or seven years and then adjust over the remainder of the loan term. Compared to a fixed rate mortgage, an ARM mortgage offers a lower initial interest rate, but after the fixed rate period ends, monthly payments typically fluctuate up or down, depending on the market.

No, eStatements are free!

No, you will only have access to update controls for your own debit card.

To complete a mobile deposit, download our mobile banking app and log in using your online banking credentials. Select the gold plus symbol (“Mobile Deposit”) and choose which account will receive the funds. Endorse the check, take a photo and send it. The app will walk you through step by step. 

Regions allow you to assign each eligible debit card to a geographical area. When a point-of-sale transaction is initiated, we compare the merchant’s location with your defined regions. Your device does not have to be physically within a defined region for the transaction to be approved. If the transaction occurs outside of your region(s), it is denied.

Private banking defines an array of personalized financial resources, banking services and benefits available exclusively to individuals of verified high net worth and personal cash flow. Private banking services vary by financial institution but often include custom lending solutions and personal cash management, accessed through a dedicated private banker.

The Sponsor Finance team supports a variety of investors, including funded private equity groups and fundless independent sponsors with a proven track record of investment experience. We prefer to work with investors with industry expertise and/or dedicated operating partners with meaningful sector experience. Additionally, we work with family offices or individuals on a more selective basis.

The goal of any investment includes financial gain, but some investment management decisions miss the mark — either gains fall short of expectations or losses occur instead. That possibility defines the risk in investment management. Investments that offer the highest potential gains tend to involve the greatest risk, also referred to as uncertainty or volatility. Investors who can absorb losses without hardship tend to be more tolerant of risk, while others prefer to avoid risk as much as possible. 

Rates change frequently, so please contact us for current veterinary practice loan rates.

Card Controls includes several options to manage and monitor your payment activity:

  • Lock or unlock your debit card if you misplace or lose it
  • Location Controls enables you to designate areas where your card can be used or block international transactions
  • Transaction Types enables you to block certain transaction types like ATM or online transactions
  • Merchant Types enables you to block certain types of merchants such as restaurants or department stores.
  • Threshold Amounts allows you to set a specific limit (lower than the default amount) for debit card transactions. Any transactions over this threshold will be declined.

First insert, then remove your card. The ATM will recognize your card as a chip card and prompt you to re-insert your card and leave it inserted until your session is complete. Once the transaction is complete, remember to remove your card.

All checking and savings accounts offer eStatements. Certificates of Deposit and loans do not have eStatement functionality at this time.

The benefits for the Mastercard Automatic Billing Updater Service are:

  • Reduction in "card not present" declines
  • Helps to ensure on-time bill payment
  • Prevents late fees and service disruption
  • Provides you with better customer service
For business banking: 
Establish clear goals. These will serve as the foundation of your business’s financial plan. This planning will include assessing current debts and liquidity, economic growth and market competition. All of these areas will factor into your financial planning. 
 
For personal banking: 
Establish clear goals and develop a retirement plan. Do you want to retire and move to a warmer climate? Do you want to pay off your house and carry no debt? Do you want to have enough money set aside to take an annual vacation during retirement? Answering these questions can help you lay the groundwork for how much you need to save or invest to prepare for retirement. 
 

Account to Account Transfers will be posted as pending transactions when initiated. Transfers initiated prior to 9 p.m. ET will be effective the same business day. Transfers initiated after 9 p.m. ET will be effective the next business day.

No. Participation in this service is at each merchant’s discretion.

Yes, we offer up to 100% practice finance loans based on cash flow and type of loan. 

No.

Visit your local banking center with a valid ID and speak with a banker, or call customer service at 1.800.205.3464 to update your contact information. You can also update your contact information and other personal details by logging in to your First Merchants online banking account. Choose “Customer Service,” then “Manage Contact Information” and select “Change.”  

The toggle will appear green.

Whether or not you need to pay a mortgage insurance premium (MIP) depends on the terms of your loan. Down payment amounts dictate the need for mortgage insurance premiums, which influence monthly payments — and the amount due at closing. All Federal Housing Authority (FHA) mortgages require borrowers to pay an upfront mortgage insurance premium, known as UFMI, at closing in addition to an annual premium for the life of the loan. The upfront premium costs 1.75% of the loan amount, and the annual mortgage insurance premium runs between 0.45% to 1.05%.

If you made a down payment of less than 10%, you’re responsible for paying the annual premium in monthly installments over the life of the loan. If you put down over 10%, the requirement to pay the annual premium ends after 11 years. 

MasterCard has additional information on their website about features and benefits of chip cards.

From firstmerchants.com, simply select the correct service from the signin box’s dropdown menu. You’ll be taken to that service’s signin page to begin the login process.

Debit Card Controls is a function within the First Merchants Mobile App that allows you to control how, when and where your debit card is used, keeping your card safe and providing instant notifications whenever your card is used. You can activate or deactivate cards, restrict card usage to specific types of merchants and/or transaction types, establish threshold amounts and allow cards to only be used in specific geographical regions.

Unfortunately, fraud-related schemes associated with COVID-19 are on the rise, including a text scam. Fraudsters try to take advantage of times like this. Please be extra careful and aware. First Merchants will never make an unsolicited request for any confidential information from you via email or phone call or require that you update your account details on a Web page. Do not respond to or click on links from unsolicited emails, and do not provide confidential information on an unsolicited phone call.  Protect yourself against fraud using these recommendations in our Security Alert.

If you enter your password incorrectly three times, you will be temporarily locked out of the Business Online Banking system. Please call Treasury Solutions at 1.866.833.0050 to reset your password.

The Mastercard ABU Service will begin on March 6, 2018.

  • The chip provides an extra layer of security with every transaction you make at chip-enabled terminals. Instead of swiping your card, you'll insert your card into the terminal to complete your transaction.
  • You can still swipe your card to pay if the terminal isn't yet chip enabled.
  • You can use your card as you did before for online payments, telephone payments, and at ATMs.

In the world of investment management, the term “portfolio” refers either to an array of investments owned by a single entity or to an array of investments administered by a single entity (known as bundled investment or managed funds). Regarding the former definition, a portfolio manager works as a financial professional who handles all of an individual’s investments, evaluating each purchase or sale with the client’s overall goals in mind. By contrast, an investment fund manager handles investments within the bundle on behalf of anyone who buys into the fund as a whole — potentially serving many clients with each transaction but without customization.

A mortgage broker works on your behalf to find a mortgage bank, so you can secure a home loan. By contrast, a mortgage lender approves you for a home loan and lends you the money to buy a home. Whether you choose to work with a mortgage broker or directly with a mortgage bank, ensure you’re getting the best loan terms and interest rates available to you. Also, carefully examine any fees or additional costs the broker or lender may charge.

Once you are enrolled in First Merchants online banking, you can download the First Merchant app from the App Store/Play Store by searching for "First Merchants Mobile App." Once the app is downloaded, sign in with your online banking username and password. Choose a 4-digit code or face ID for future logins.

A home equity loan is defined as a specific one-time lump sum loan with fixed monthly payments. Home equity loans are commonly used by borrowers to cover major expenses, such as home remodeling, or to consolidate debt. To secure a home equity loan from a lending institution, you as the borrower use your home as collateral. A home equity loan can be borrowed from a lender before or after you pay off the mortgage. To qualify, the property must hold equity, which determines the minimum and maximum loan amounts available.

In order to use First Merchants Mobile Deposit, you must have enrolled in online banking and mobile banking.  Mobile Deposit is available to all consumers in addition to business users who are administrators in online banking.

You can access funds from your home equity line of credit (HELOC) as often needed, as long as you stay under your credit limit.

From firstmerchants.com, select Business Online Banking from the dropdown menu in the login box to begin the login process. If you’re using a mobile device, you’ll see mobile login options as well. 

 

No, both consumer and business cardholders will receive Fraud Alerts.

By definition, investment management assumes responsibility for all strategic decisions made when researching, selecting, monitoring and trading a collection of financial holdings. The goal of investment management is meeting specified financial goals in accordance with the client’s ability and tolerance to assume risk. Investment management firms oversee short-term and long-term financial planning on behalf of a single client, such as an individual or business entity, or for a fund that sells a bundled array of investments to multiple clients. Collectively, an array of holdings or investments makes up a portfolio, which is why some clients refer to investment management as portfolio management.

Yes, eStatements are available through Online Banking only.

To request a name change, visit a local banking center for assistance. You will need a marriage certificate, divorce decree or court order AND an updated form of ID.

 No, if you turn a feature off through Debit Card Controls, it will only apply to your debit card.

Text banking gives personal Online Banking users access to accounts via text (SMS) messages on your phone. It's a fast, easy way to look up account balances or recent account history by sending a text command to a shortcode.

The definition of a mortgage corresponds to a type of loan used to finance the purchase of a home or other real estate. House mortgage payments, paid monthly, consist of the principal balance, interest, insurance and taxes. A percentage of each payment goes toward paying the interest versus the principal, but as time goes on, more of your money goes directly toward paying off the principal. A standard mortgage typically offers either a 30-year or 15-year term for a fixed rate loan. Stretching payments over a longer period of time reduces monthly payments but increases the interest rate.

If you're having trouble receiving text messages, check with your wireless carrier or plan administrator to make sure your mobile phone has text functionality enabled. Standard rates apply, so you should check with your carrier to avoid unexpected charges.

Transaction Limits are as follows: $10,000 for single payment, $20,000 daily limit.

Yes - You can view all of your accounts in Online Banking as long as they have been registered into online banking.

Activation codes expire after a specific period of time. If you need a new one, return to the Mobile Banking enrollment site (called the Mobile Banking Center) and request a new activation code.

Possibly. The majority of suspected fraud accounts will be blocked, however, some lower risk items may not be declined.

We support most of the popular US wireless phone carriers, including AT&T, Sprint, T-Mobile, and Verizon. If your carrier is not listed when you enroll, select 'Other' and try the Mobile Web option, or check back later, as new carriers will be added over time.

No. The Mastercard ABU Service is only available at participating merchants. Each merchant can choose the frequency at which they check for updated payment information. To avoid late payments and penalties, you will need to check with your merchant to ensure their card information has been updated.

External transfers enable personal banking customers to transfer funds to or from a deposit account at another institution. Before transfers can take place, you will be required to verify the amount of two small deposits to the external account.

Normally, your debit card settings will be updated immediately. However, Debit Card Controls is reliant on computer and telecommunication systems. Disruptions to these systems may result in delays in updates to Debit Card Control settings from time to time. Your settings will be updated as soon as the disruption is resolved.

Business Online Banking is equipped with layered security and Out-of-Band Authentication to help mitigate both internal and external fraud. You are protected at login and when you initiate a transaction.  Please visit our Security Center for additional information.

First Merchants Bank or any of its divisions, will not contact you via email, phone, or other means and request confidential information.

 

The amount you can borrow with a home equity line of credit (HELOC) is based on your home’s value and your mortgage balance. Depending on your credit score and outstanding debt, you may be able to borrow up to 89% of the appraised value of your home less the amount you owe on your first mortgage.
 
Most home equity line of credit loans have variable interest rates. These rates may offer lower monthly payments at first, but during the rest of the repayment period, the payments may change. There is a chance monthly payments may go up.
 
Similar to a real estate mortgage, HELOCs require you to use your home as collateral for the loan. This may put your home at risk if your payment is late or you can't make your payment at all.

You can only cancel a payment if the person you sent money to hasn't yet enrolled with Zelle®. To check whether the payment is still pending because the recipient hasn't yet enrolled, you can go to your activity page, choose the payment you want to cancel, and then select "Cancel This Payment". If you do not see this option available, please contact our customer support team at 1-800-205-3464 for assistance with canceling the pending payment.

If the person you sent money to has already enrolled with Zelle®, the money is sent directly to their bank account and cannot be canceled. This is why it's important to only send money to people you trust, and always ensure you've used the correct email address or U.S. mobile number when sending money.

If you sent money to the wrong person, please immediately call our customer support team at 1-800-205-3464 so we can help you.

If the phone number(s) presented are not valid, please contact Treasury Solutions at 1.866.833.0050 to update your phone number(s).

You will receive an email each time a new statement is available to view.

You can reorder checks through Deluxe within the Customer Service tab of Online Banking. Just choose Order Checks and select the appropriate account.

Yes, Online Banking allows you to view the front and the back of each deposit ticket.

We are focused on supporting private equity sponsors in the Midwest and Southeast. Our borrowers span the entire country; our only restriction is sponsors must be based in the U.S.

Yes, checks over $3,000 are not eligible for mobile deposit. Additionally, there is a $3,000 daily submission aggregate limit to the mobile deposit service. If you have items to deposit that exceed the daily limit, please deposit the following business day. Any items deposited that exceed a daily submission limit of $3,000 will be rejected.

Zelle® is a fast and easy way to send money directly between almost any bank accounts in the U.S., typically within minutes1. With just an email address or U.S. mobile phone number, you can send money to people you trust, regardless of where they bank2.

 

Home equity loans and home equity lines of credit (HELOCs) are very flexible and may be used for almost any expense, including:

  • Home improvements (remodeling a room or replacing an HVAC)
  • Debt consolidation (credit cards, loans, medical bills)
  • College tuition and expenses 
  • New car 
  • Car refinance
  • Recreational vehicles (boats, motorcycles, ATVs)
  • Vacations (airfare, hotel, expenses)
  • Unexpected expenses (medical bills, new furnace
Please visit your local banking center or call customer service at 1.800.205.3464. You can also order checks by signing in to your online banking account and selecting “Order Checks” under the “Customer Service” tab. Select the correct account number and you will be directed to the Deluxe Checks ordering website.

Yes! First Merchants offers a number of guides, how-to videos and FAQs designed to support you, whether you’re enrolling and logging in for the first time, or learning to pay a friend with your mobile device using Zelle. If you need help, schedule an appointment or call 1.800.205.3464.

Yes. eStatements are more secure than paper statements because you reduce the risk of mail fraud.

In relation to a mortgage, an escrow account is a fund that contains money designated to cover certain monthly expenses including property taxes and homeowner’s insurance. Taxes and insurance represent the two primary elements of what is held in an escrow account by the lender, which pays those bills on the borrower’s behalf. Financial lenders generally require an escrow account for mortgage loans, although escrow can sometimes be waived if a borrower pays a down payment of at least 20%.

First Merchants Bank’s routing number is 074900657.

Sending amounts are based on account balances and limits set to protect you from fraudulent activity. At First Merchants Bank, your limit is $600 per transaction and $900 per day.

There are no limits to the amount of money you can receive with Zelle®. However, remember that the person sending you money will most likely have limits set by their own financial institution on the amount of money they can send you.

Each account owner should have their own user ID and password for Online Banking.

On average, refinancing a mortgage costs homeowners approximately $3,000. However, the actual cost to refinance a mortgage depends on the loan amount, county of residence and several other factors. Closing costs typically include lender fees, a home appraisal and title services. Lenders may offer lower-cost refinancing options, which feature a higher interest rate with fewer upfront fees compared to a conventional mortgage.

Yes, under the “Money Movement” option, choose “Loan”. Click the loan account you wish to pay and select an action from the payment options on the right of the screen.

To find an ATM near you, visit firstmerchants.com and click the “Locations” tab in the upper right corner. In the “Location Types” field, select “ATM” and enter your address, city, state or ZIP code. To find an ATM on the mobile app, click “More” then select “ATM Locations.” Enter your city, state or ZIP code for the nearest location.
A revolving line of credit allows you to repeatedly borrow against and pay off a credit line from a lending institution. You can continuously access the money from a revolving line of credit account until you reach the maximum amount, also known as a credit limit. You make payments on the amount used, including interest, or can choose to pay it off in full. You can continue borrowing against a revolving line of credit until you reach your credit limit. If you reach your credit limit, you can begin borrowing again once your balance is repaid. The three types of revolving credit accounts include personal lines of credit, credit cards and home equity lines of credit.

No, First Merchants Bank does not charge any fees to use Zelle® in our mobile app.

Your mobile carrier's messaging and data rates may apply.

First Merchants Mobile Banking is free, however, you may incur text or data charges from your wireless provider. Standard rates apply, so you should check with your carrier to avoid unexpected charges.

Some small businesses are able to receive payments with Zelle®. Ask your favorite small business if they accept payments with Zelle®. If they do, you can pay them directly from your mobile banking app using just their email address or U.S. mobile number.

Neither First Merchants Bank, nor Zelle® offers a protection program for any authorized payments made with Zelle®.