Interest Rates

Effective January 1, 2018, pursuant to the Tax Cuts and Jobs Act (Pub. L. No. 115-97), a conversion from a Traditional IRA, SEP, or SIMPLE to a Roth IRA cannot be recharacterized. The law also prohibits recharacterizing amounts rolled over to a Roth IRA from other retirement plans, such as 401(k) or 403(b) plans.

A Roth IRA conversion made in 2017 may be recharacterized as a contribution to a traditional IRA if the recharacterization was made by October 15, 2018. A Roth IRA conversion made on or after January 1, 2018, cannot be recharacterized. For details, see “Recharacterizations” in IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs).

We absolutely will accept coin deposits! In fact, we have coin counting machines at our offices to accommodate our customers.

Find a North Shore Bank office, Video Teller or ATM near you

North Shore Bank does not list properties that we currently own.

Your 8 or 10-digit account number can be found by clicking on the “eye” near your shortened account number in our Mobile App and within Online Banking. You can also find your account number on your paper statements, eStatements, on the bottom of your checks (the second set of numbers), or you can visit a neighborhood North Shore Bank office.

There are a few ways that you can claim your property before it is escheated:

1. Mail back the claim letter we sent you, stating that you wish to claim your account
2. Transfer your funds to different account with North Shore Bank
3. Close your account 
4. Make a deposit to or withdrawal from your account
5. Update your passbook

To submit a secure email, log into Online Banking and click on the Messages link toward the top of the page. From here you are able to compose a secure message and review messages that have been sent to you.

North Shore Bank can help you with all your financial needs. There really is no limit to the number of accounts you can have. As long as you continue to meet the requirements to open an account.

Find a North Shore Bank office, Video Teller or ATM near you

If someone transfers money into your account, they will not have access to view your account balance.

North Shore Bank is a mutual association and therefore every person who opens an account with us becomes a member of the association and is entitled to elect directors and vote on certain business matters. Each saver is given one vote for each $100 or fraction thereof of the withdrawal value of their accounts up to a maximum of 1000 votes. Many account holders are unable to, or don't care to vote in person, therefore, the signed proxy authorizes a trusted official of North Shore Bank to cast the account owner's vote in his/her absence. This proxy vote can be revoked or signed/added at any time. 

A conversion recharacterization is the reversal of an IRA conversion, such as from a Roth IRA back into a Traditional IRA. 

A contribution recharacterization allows you to change the contributions original designation and treat a regular contribution made to a Traditional IRA or a Roth IRA as having been made to the other type.

The International Bank Account Number (IBAN) is an international standard of identifying bank accounts across national borders.

North Shore Bank does not issue IBANs, our ABA routing number is 275071356, and we operate within the Federal Reserve banking system.

Your 8 or 10-digit account number can be found on your paper statements, eStatements, on the bottom of your checks (the second set of numbers), or you can visit a neighborhood North Shore Bank office.

To find your account number on your monthly statement in the Mobile App, select an account from the home page, then select the “eye” icon to temporarily see the account number.

To find your account number on your monthly statement in Online Banking, select an account from the home page and then click Online Statements. Click View Statement to download a pdf of your most recent statement. The account number will be listed at the top and in the account summary at the end of the document.

A credit card payment works like a loan which is paid back monthly if you use it. A debit card uses funds that you have available in your checking account.

Current Balance, also known as Account Balance or Ledger Balance, means the funds in your account, including deposits and withdrawals made to date. Not all your transactions will be immediately reflected. As a result, only part of this balance may be available for withdrawal. The Current Balance does not include checks or payments, including debit card transactions, that you have initiated but have not yet cleared your account.
 
Available Balance means the amount of money that can be withdrawn at a point in time. The Available Balance will be less than the Current Balance when there are pending transactions such as:

• Funds held from deposits: These funds have been deposited, but are not yet fully available for withdrawal or transfer.
• Funds held for debit card authorizations: This reflects merchant-authorized requests for payment, when the final charge has not been submitted by the merchant. ATM and PIN-based debit card transactions usually post the same business day and other everyday signature-based debit card transactions usually post within 4 business days. This means that your available balance may not accurately reflect pending debit card authorizations until the transaction is received by us and paid from your account (i.e., posted). Even though we may increase your Available Balance when a merchant does not submit the transaction for payment in a timely manner, the obligation to the merchant still applies.
• Any other holds on funds in your account.

 

The Available Balance does not reflect every transaction you have initiated or previously authorized. Items that may not be reflected in your Available Balance include, but are not limited to:

• Outstanding checks and authorized automatic withdrawals (such as recurring debit card transactions, transfers, and ACH transactions that we have not received for payment or processing).
• The final amount of a debit card purchase. For example, we may authorize a purchase amount from a gas station, but the authorized amount may be different from the final charge.
• Scheduled bill payments or other direct payments to other people that have not yet been processed.
• Debit card transactions that have been previously authorized but not sent to us for payment from your account where we have released the transaction authorization hold and the transaction is sent for payment from your account at a later date.

 
North Shore Bank authorizes and pays transactions using the Available Balance in your account. If you have Standard Coverage, the Available Balance for checks, ACH items, and recurring debit card transactions includes the amount of the Overdraft Privilege limit and any available Overdraft Protection. The Available Balance for ATM and everyday debit card transactions on accounts includes any available Overdraft Protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the Available Balance for authorizing ATM and everyday debit card transactions.

An easy way to keep track of your transaction history is to enroll in Online Banking or the Mobile App if you are not already enrolled.

Generally, unclaimed property is any financial asset that hasn't had any activity for a period of one year or more and the holder of the asset is not able to contact the owner. This includes:

• Savings accounts
• Checking accounts
• Uncashed dividends
• Stocks and mutual funds
• Customer deposits or overpayments
• Certificates of deposit
• Credit balances
• Refunds
• Matured life insurance policies
• Uncashed death benefit checks

 

The unclaimed property law also requires that utility deposits, unclaimed wages and property resulting from a business closure, be reported as unclaimed property after one year of inactivity. The law does not include real estate.

Depending on the type of property and state in which you reside, the answer may vary. For customers living in Wisconsin and Illinois: checking and savings accounts, safe deposit box/self-storage box contents, cashier’s checks, and money orders are considered unclaimed after 5 years. 

You should discuss and plan any actions with your tax professional to ensure that it in your best interest.

Automated pop-up ads that you may encounter when visiting our website are not be generated by North Shore Bank. These pop-up ads direct you to paid services that are not sponsored by North Shore Bank. Please be mindful before clicking on these types of notifications. 

If you are looking for a free credit report, we encourage you to take advantage of the following option: you can obtain one free credit report each year at annualcreditreport.com.

To transfer money from one North Shore Bank account into another North Shore Bank account, log in to Online Banking and click on Transfers. Or in the Mobile App, click on Transfer & Pay. Select Make An Internal Transfer and complete the information. For transfers that you want repeated, click on Make Recurring.

External transfers in the Mobile App and Online Banking let you move money between your North Shore Bank personal deposit accounts and your personal deposit accounts at other financial institutions in just a few clicks. On the Mobile App, select Transfer & Pay and then select Make an external transfer. In Online Banking select More actions, then select External Account Transfer. For transfers that you want repeated, click on Make Recurring.

Message and data rates may apply when using the Mobile App.