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2024 Digital Banking Upgrade

Redwood Capital Bank is excited to enhance your digital banking experience! By making this investment in our digital banking services, we can offer increased features and a product that is more reliable and adaptable. Our new digital banking service has many new features and will allow us to integrate additional features in the future. Please take some time to review the important information provided. It will greatly assist you during the upgrade process.

Thank you for your patience as we undertake these exciting digital banking changes. It is our sincere hope that the new digital banking services will enhance your online and mobile banking experiences.

  1. Redwood Capital Bank’s new digital banking service will go live on Monday, October 21, 2024.
  2. Our current online and mobile banking will go offline on Thursday, October 17, 2024 at 5:00 p.m. Our NEW digital banking services will be live on Monday, October 21, 2024 at 10:00 a.m.
  3. On Saturday, October 19 and Sunday, October 20, 2024: If you have any questions during the conversion weekend, please call (707) 444-9800 from 9:00 a.m. through 5:00 p.m. to speak with a Redwood Capital Bank Customer Service Representative.
  4. Prior to Thursday, October 17, 2024 at 3:00 p.m.: Pre-schedule any transfers, wires or ACH batches that need to arrive in the receiver’s account on Friday, October 18, 2024 or Monday, October 21, 2024.
  5. To sign in to the new digital banking services, you will need to have a valid email address on file. To view your email address on file, please sign into Online Banking and go to Self Service → Self Administration → Personal Preferences.
  6. In our new digital banking services, all usernames will become case sensitive and be converted to all lowercase. After signing into our new system, you will have the ability to change your username to include capitalization if you prefer.

Yes. Redwood Capital Bank’s web and mobile banking systems are scheduled to be offline beginning Thursday, October 17, 2024, at 5:00 p.m. through 10:00 a.m., on Monday October 21, 2024. Please note that Zelle® will become available on Tuesday, October 22, 2024.

Redwood Capital Bank staff will be available by telephone during conversion weekend from 9:00 a.m. through 5:00 p.m. on Saturday, October 19, 2024, and Sunday, October 20, 2024, to provide basic services such as transfers, balance information and to answer any questions.

After our new digital banking services goes live on Monday, October 21, 2024, you will need to delete your existing Redwood Capital Bank Mobile Banking app and install our new Mobile Banking app. The new Mobile Banking app can be identified by its icon which displays the logo without text or a white border.

New Icon:

Old Icons:

Your username
All usernames will be case sensitive. By default, all usernames will be converted to lowercase. Usernames will also be limited to 20 characters. If your username exceeds 20 characters, it will be changed.

Your password
Passwords will now be a 12-character password with at least one number and one letter. This password rule provides greater protection against cyber-attacks.

Your Telephone Numbers
If you have more than three telephone numbers on file with Redwood Capital Bank some of them will be removed from online banking during the conversion. Your “Home Phone” and “Mobile Phone” numbers will be retained. To view these numbers, sign in to your online banking prior to conversion and go to Self Service → Self Administration → Personal Preferences.

Easier Sign In
In our new system, you will only be prompted to receive a security code (via text message, phone call, or email) when performing any money movement function or viewing sensitive information. When checking your account balances, you will not be delayed by receiving a security code.

Zelle®
You will need to re-enroll in Zelle® and will not be able to receive Zelle® payments until you have re- enrolled. Zelle® will be available one day after launch on Tuesday, October 22, 2024. Zelle® will now be available in browsers on computers and will remain available on the Redwood Capital Bank Mobile app. Our new platform supports Zelle® for your small business, which will be available at a later date.

External Transfer
In our new system, all external accounts will require micro-deposit verification. This is when two small deposits are made into the external account, after which you enter the amount of the deposits in online banking to verify your access to the external account. After the new digital banking services goes live you will no longer be able to add an external account unless you have access to it. Your existing un-verified external transfer accounts will be retained and you will maintain your ability to transfer to them.

To sign into your account after the new system is live, you will need to provide your existing username in an all-lowercase format and personal information. After providing this information, you will be prompted to make a new password, followed by using that password to sign into online banking. Commercial users will enter their tax ID number and ZIP Code associated with the business.

Payments such as Bill Pay, ACH, or external transfers that are scheduled before the current system goes offline will be processed normally. If you need a transfer to be processed on October 18, 2024, or on October 21, 2024, it must be entered into the system prior to the scheduled downtime.

You will need to re-enroll in Zelle® and will not be able to receive Zelle® payments until you have re- enrolled. Zelle® will be available one day after launch on Tuesday, October 22, 2024. Zelle® will now

be available in browsers on computers and will remain available on the Redwood Capital Bank Mobile app. Our new platform supports Zelle® for your small business, which will be available at a later date.

Will I need to reconnect my account to services like QuickBooks or Venmo?

If your accounts are linked to a third-party service such as QuickBooks or Venmo using your online banking login, you will need to re-establish the connection after creating a new password for your online banking login. If your account is linked to a third party via your accounts and routing number it will remain connected, and no action is required.

If you are using Quickbooks or Quicken please refer to these PDF guides for instructions on reconnecting your account.

If your account is linked to a service like Venmo or Cashapp you will need to remove your account and re-connect it.

What changes are there to Positive Pay?

Positive Pay will be receiving several improvements. Positive Pay will now compare the payee’s name on a check to your entries, preventing altered checks from clearing. Additionally, Positive Pay will now support dual control for check exception approval. Positive Pay will also be able to accept Excel spreadsheets as an import file option. Your existing import file formats will be compatible with the new system. Customer Service Representatives will be able to view your issued checks and will not need to call to verify a check that has been entered.

What changes are there to Commercial Remote Check Deposit?

The Commercial Remote Check Deposit system will be replaced. If you are a Commercial Remote Check Deposit customer we will be contacting you to assist with the transition to the new system. This will involve installing new software on your check scanning computers. We are excited and expect you to find the new Commercial Remote Check Deposit system to be more user friendly.

What changes are there to ACH or Wire Transfers?

While the menu to submit ACH or Wire Transfers will look different, there are no substantial changes to these services. Your Wire Transfer and ACH templates will be retained and available for use in the new system.

What changes are there to company user administration?

If a user is attached to only one company, that user must have its access set by a company administrator within online banking. If a user can view the accounts of more than one company, that user must have its access set by completing cash management forms and submitting them to your branch.

What will happen to my debit card controls?

Card controls will be available in our new digital banking services beginning Tuesday, October 29, 2024. Your existing card controls will be disabled on Thursday, October 17, 2024. When our new card controls become available you will be able to re-enable controls within the Redwood Capital Bank Mobile app. New controls will be available, such as the ability to block charges from a specified merchant or setting a daily spending limit.

  • Zelle® will be accessible in your web browser.
  • My Credit Score: Get your credit score and monitor for new lines of credit.
  • My Spending: See where your money is going, set spending alerts and create a budget.
  • Spendable Balance: Get a quick figure that accounts for scheduled transfers.
  • Account Limits: Protect yourself by setting custom dollar limits on your transfer accounts.
  • Improved Account Linking: Link accounts with more services such as Coinbase and EveryDollar.
  • Outside Accounts: Add accounts from other institutions into your online banking and see all your balances in one place.
What is new in the mobile app?
  • Reliable Biometric Logins
  • Bill Pay management, add new payees from your phone
  • Mobile E-Statements, access e-statements from your phone
  • External Transfers in the mobile app
  • Apple Watch alerts
  • Mobile Deposit for business users ACH and Wire dual control approval within the Mobile App