Below is information on the Royal Savings Bank merger with Peoples Bank. If you don’t see what you’re looking for, please contact us. And be sure to check the FAQs frequently, as we will be adding more information as it becomes available.
For more than 100 years, Peoples Bank has provided a wide range of consumer and business banking, wealth management products, and digital banking services to Northwest Indiana and Greater Chicagoland residents. With locations throughout Northwest Indiana and Chicagoland, American Banker magazine has listed Peoples among the top 200 community banks in America, based upon a key banking industry performance indicator.
The merger provides a great opportunity for customers of both banks to benefit from an expanded service area, increased access to products and services, and continuing community support.
Yes. Once the conversion is complete in early April, Royal Savings Bank will become Peoples Bank. All locations will carry the Peoples Bank name.
Customers will enjoy more branches, an expanded ATM network, and a larger team to assist them in moving their finances forward.
Yes. Until the conversion is complete, Royal Savings Bank customers will continue to access their accounts at www.royalbankweb.com. After the conversion, all customers will access their accounts at ibankpeoples.com. More information will be available soon to help make this transition smooth and seamless for all customers.
Yes. The FDIC will continue to provide deposit account insurance up to $250,000 per depositor, for each of their account ownership categories.
Please feel free to contact us at 708-428-5280.
For now, the banks will continue to operate as separate organizations. As the conversion takes place, we’ll keep you up to date on our progress in merging Royal Savings Bank fully into Peoples Bank.
A conversion guide will be mailed to you with information about any changes that might affect your accounts, and details on when the conversion will occur. We are working to minimize any inconvenience during this process.
For the most part, account numbers will not change, and open dates will not change. There may be a few instances where account numbers will change, and if that impacts your account, you will be notified.
Yes, you can continue to use your Royal Savings Bank checks until your supply runs out. When it’s time to reorder, please contact any of our locations for assistance. Please note, Peoples Bank uses Deluxe for check orders rather than Harland, which is who Royal Savings Bank currently uses. When it comes time to order checks, you will need to contact us to ensure you’re getting the appropriate discounts associated with your account.
Personal: Your current account will be transferred to a Peoples Bank account. Your final Royal Savings Bank statement will be processed on Friday, April 1, 2022. Your new monthly statement will change to the 5th business day of each month, beginning April 2022.
Electronic payments that you’ve set up to automatically debit your account will continue to process. Direct deposits that you receive, such as social security, will continue to occur without interruption.
Business: Your current account will be transferred to a Peoples Bank account. Your final Royal Savings Bank statement will be processed on Friday, April 1, 2022. Your new monthly statement will change to the last business day of each month, beginning April 2022.
Electronic payments that you’ve set up to automatically debit your account will continue to process.
Yes, you will receive a new Peoples Bank VISA debit card in the mail by April 1, 2022.
Yes, you can use any Peoples Bank ATM free of charge. Additionally, Peoples Bank is a member of the Allpoint® ATM Network, which provides surcharge-free access at over 55,000 ATMs worldwide. Visit our locations page for more information.
No, existing rates and terms will remain the same until the CD matures on the Peoples system. Until then, you will continue to receive your CD interest payments as you currently do. When your CD matures on the Peoples system, please call or visit a Banking Center for new rates and terms. At the time of maturity, you will have the option to let interest continue to accrue, or to transfer the interest to an internal or external account. After your CD matures on the Peoples system, Interest checks will no longer be an option.
Beginning Monday, April 4, 2022, we recommend that you switch to a Statement Savings account. Otherwise, you may take your passbook to any of our Banking Centers to replace it with a Peoples Bank passbook.
For determining the availability of your deposits, every day is a business day, except Saturdays, Sundays, and federal holidays. If you make a deposit during regular business hours on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after business hours or on a day we are not open, the deposit will be accounted for on the next business day. Electronic deposits (direct deposits) will be posted to your account and immediately available upon receipt.
For now, you can continue to login to online banking as usual. As the full conversion approaches, you will receive specific instruction on how to login to ibankpeoples.com and access your accounts.
Personal: If you are currently using Online or Mobile Banking to access your personal accounts, you will automatically be enrolled in the Peoples Bank Consumer Online and Mobile Banking systems. If you are not currently using Online or Mobile Banking, you may enroll beginning Monday, April 4, 2022, by visiting our website at ibankpeoples.com or the Banking Center nearest you.
Business: If you are currently using Online Banking to access your business accounts, you will automatically be enrolled in the Peoples Bank Business Online Banking system. Once you log in to Business Online Banking, you will be able to enroll in Business Mobile Banking. If you are not currently using Online or Mobile Banking, you may enroll beginning Monday, April 4, 2022, by visiting our website at ibankpeoples.com or the Banking Center nearest you.
The Royal Savings Bank Online and Mobile Banking systems will be retired on April 1, 2022, at 2 p.m. CST. Online Statements, transaction history, Bill Payment payees and transactions, and scheduled transfers will be automatically transferred to your Peoples Bank Online Banking account. Please print or retain any eBill information for future use prior to this date.
All External Transfers, as well Internal Transfers for businesses scheduled to occur after 5 p.m. CST on March 31, 2022, using Royal's Online and Mobile Banking, will be canceled. ACH transactions originated by 5 P.M. CST on March 31, 2022, will be processed on their effective dates by Peoples Bank.
At this time, you can continue to use your existing mobile banking app. Detailed information and instructions will be mailed to you on how to access your accounts through the Peoples Bank mobile app.
Your rates, terms, and payment due date will remain the same. You will receive a May 2022 loan billing statement by mail from Peoples Bank prior to the end of April. Your June loan billing statement will be sent from Peoples Bank and you should receive it prior to the end of May, 2022. You can make your loan payment by mail, in person, at any of our locations, within Online and Mobile Banking, or by setting up an automatic payment from any bank account. If you currently have an automatic payment set up, it will automatically transfer to Peoples Bank.
The health and safety of our staff and customers is a top priority to us, and as we work to integrate Royal Savings Bank with the Peoples Bank brand, that fact remains truer than ever.
Effective Monday, January 31, 2022:
With the exception of 118th Street (Pete’s Fresh Market), all Royal Savings Bank lobbies will be accessible by appointment only. To make an appointment, please contact your local Banking Center.
Effective Sunday, February 6, 2022:
The 118th Street (Pete’s Fresh Market) Banking Center will be closed on Sundays.
Effective Monday, February 7, 2022:
The 47th Street Banking Center will be temporarily closed.
The 1410 W. Taylor Street will be closed on Tuesdays and Thursdays.
The Westmont Baking Center will be closed on Wednesdays.
The Niles banking Center will be closed on Wednesdays.
These changes are temporary and are in effect until further notice. We look forward to seeing you all back in person when we feel it is safe to return to normal business hours.
Account Access
