Frequently Asked Questions
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Conversion FAQs
Does Busey offer Overdraft protection to my account?
With the Busey Overdraft Advantage® program, Busey may approve your reasonable overdrafts that occur. A per item fee of $35 applies anytime this service is used. The Overdraft Advantage® limit may be increased or decreased at Busey’s discretion based on the activity in your account. Eligible accounts that were previously enrolled in M&M’ s Overdraft Coverage and are converting into Foundation Checking, Pillar Banking, Complete Business Checking and Select Business Checking will be automatically enrolled in Busey Overdraft Advantage ®.
If you are registered for eStatements, you can enroll in electronic notices to receive a notice for items covered by Overdraft Advantage electronically. Items not covered by Overdraft Advantage will be reviewed and sent in an additional notice the following day. For more information on overdrafts, visit busey.com/disclosures.
Pre-Authorized Transfers for Overdraft Protection
If you were previously enrolled in M&M’ s Overdraft Protection, this will convert to Busey’ s Pre-Authorized Transfer service. Pre-Authorized transfers between Busey accounts are done in $100 increments.
If you were previously enrolled in M&M’ s Overdraft Protection, this will convert to Busey’ s Pre-Authorized Transfer service. Pre-Authorized transfers between Busey accounts are done in $100 increments.
How do I send a Wire Transfer?
Busey will send current M&M wire transfer customers wire agreement forms in early June. To conduct wire transfers with Busey, you must complete a Busey wire agreement and establish a new PIN. Incoming domestic and international wire transfers must use Busey’s wire transfer information, outlined below. Please note that M&M’s routing number will be retired. Busey’ s routing number is 071102568.
M&M's SWIFT code is no longer be valid and will be rejected by the SWIFT network. Please note, wires are processed Monday – Friday, from 8 a.m. – 5 p.m. CT.
Is Busey Member FDIC insured?
Your deposits will continue to be insured according to FDIC deposit rules. The standard maximum deposit insurance amount is $250,000 per depositor, per insured depository institution for each account ownership category.
If you had deposits at Busey in addition to your accounts at M&M Bank prior to conversion on June 24, your deposits will be separately insured for six months. CDs from M&M Bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month grace period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month grace period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period. If you have questions regarding your coverage, please contact your banker for a complimentary review or visit FDIC.gov.
What do I need to do?
Right now, there's no action you need to take. As we move forward with our partnership, Busey and M&M Bank will work together to provide ongoing communication about what to expect, what changes you need to take and how to access support along the way.
Where is Busey located?
Will Busey still honor my loan through M&M?
While you will notice a few enhancements to your statement and notices, there are no changes to the terms of your loan or line of credit. Mortgage Periodic Statements are produced on the 17th of the month and automatic deductions for payments on your loan will continue with no disruption.
You will receive complimentary checks for your Busey Home Equity Line of Credit (HELOC) in mid-July
Will my account number, debit card, or any other major details change?
Your new Busey routing number is: 071102568.
Please activate and begin using your Busey Debit Mastercard.
For other account details and important changes, refer to the Customer Welcome packet that was mailed to you. This packet contains key information and should be carefully reviewed.
You can count on us to provide clear, timely communication about any expected changes you'll experience to ensure you have the resources and information you need!
Please activate and begin using your Busey Debit Mastercard.
For other account details and important changes, refer to the Customer Welcome packet that was mailed to you. This packet contains key information and should be carefully reviewed.
You can count on us to provide clear, timely communication about any expected changes you'll experience to ensure you have the resources and information you need!
Will my routing number change?
Busey’s routing number is 071102568. You should use Busey’s routing number for wire transfers, ACH transfers and all electronic transactions. If you use paper checks, your current M&M checks will be honored through the end of the year. A promotional code is available for customers who wish to purchase new paper checks. Please visit our Routing Number Retirement page for more details about the promotion.
When will I receive my final M&M Bank account statement?
Final M&M Bank account statements were generated on Friday, June 21 and all were mailed by June 27.
These statements will also be viewable in Busey eBank in August.
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