Frequently Asked Questions
What product or service would you like to learn more about?
Do you require a minimum balance on checking accounts in order to waive a monthly fee?
Some accounts do require a minimum combined balance in order to waive a monthly maintenance service charge while other accounts do not. View a complete list of our checking accounts.
Does the bank offer overdraft protection?
Yes, the bank offers Savings Overdraft Protection where transfers are made from a savings account to the checking account with one fee of $7.50 assessed each day items are presented that are insufficient regardless of the number of items to be paid. The fee is deducted from the savings account.
Does Westfield Bank offer Free Checking?
Yes, to view a complete list of our checking accounts and any requirements necessary to waive a monthly maintenance service charge, please click here.
How fast can I get a debit card?
All Westfield Bank branches are equipped with an instant issue debit card machine, giving you the ability to get your contactless debit card the same day, if approved.
What are your current rates?
You can find a listing of our current Mortgage Interest Rates here.
How long does it take to close on a mortgage?
Most mortgages close within 30 days of application.
What documents are required to apply for a mortgage?
Typically, you will need to provide your most recent paystub, most recent two years of W2 forms, most recent two years of personal and business tax returns (if self-employed or have rental income), most recent two months bank statements and Purchase & Sale agreement (if purchasing). If refinancing, a copy of your recent mortgage statement, real estate tax bill, and homeowners insurance binder are needed.
Do you offer a first time homebuyer program?
Yes we do, learn more about our First Time Homebuyer Program here.
What is the difference between a home equity loan and a home equity line?
Loans typically have fixed terms with fixed rates and payments. Lines feature a variable rate with a draw period. Payments are interest-only based on money drawn against the line.
What are your current rates?
You can find our current Home Equity Interest Rates here.
Will my interest rate increase?
Home Equity Loans are fixed rate so the interest rate stays the same throughout the term. Home Equity Lines have a variable (adjustable) rate so the interest rate may change over the draw period.
Home much equity do I have in my home?
To calculate equity we subtract the amount currently owed on the house from the current market value of the home (as determined by an appraisal). The difference is your equity.
How much equity do I need to qualify for a HELOC/HELOAN with Westfield Bank?
Westfield Bank lends up to a maximum 85% of the value of your house so you’ll need to have at least 15% equity in your home.
How can I apply for a Commercial Loan?
You can start the process by speaking with a member of our Commercial Lending Team. Meet our Commercial Lending Team here.
What is Westfield Bank’s lending limit?
Westfield Bank’s legal lending limit is over $35 million per business entity.
What types of Commercial Lending solutions do you offer?
We offer a wide variety of solutions to fit your business. Find our Commercial Lending products and services here.
Who can I contact with questions?
You can speak with a member of our Commercial Lending Team at any time. Find our Commercial Lending Team here.
Please call 413.564.2699 for any questions regarding Westfield Investment Services or click here to visit the Westfield Investment Services website.
Can I view my accounts online?
Yes. IRA accounts can be viewed within Online Banking.
Can I withdraw from my IRA without a penalty?
Withdrawing from your IRA account without a bank penalty depends on your age and unique circumstance. Please contact a member of the Retirement Services Team here to discuss your specific situation.
What age do I need to start withdrawing from an IRA (RMD)?
Per the Secure Act of 2019, Required Minimum Distributions begin at age 72.
What types of IRAs does Westfield Bank offer?
How do I name my accounts in Online Banking?
First, log into Online Banking. Click on the “Account Services Tab”, then on the “Account Management” field. Once there, select the hyperlink under “My Account Nickname” of the account you want to change.
Can I set up balance alerts in Online Banking?
Yes. First, log into Online Banking. Click on the “Account Services Tab”, then on the “Alerts” field.
Does the bank offer a P2P Payment solution?
Westfield Bank offers an easy and convenient way to send money with Zelle. Learn more about Zelle here.
How do I sign up for eStatements?
How do I reset my Online Banking password?
To reset your Online Banking password, login using your username on the website. Next to the field where you enter your password, you will need to click on the “Forgot your Password?” link.
Where can I learn more about Westfield Bank’s locations and hours?
Find a full list of Westfield Bank branch offices here.
Where does Westfield Bank have ATMs?
Find a full list of Westfield Bank ATMs here.
How many branches does Westfield Bank have?
Westfield Bank has 25 full service branch offices in western Massachusetts and northern Connecticut.
How long has Westfield Bank been around?
Westfield Bank was founded in 1853. Learn more about our history here.
What branches have Sunday hours?
Find a full list of Westfield Bank branches with Sunday Hours here.