Resources /

Frequently Asked Questions


You have questions? We have answers.

  • Mercantile Bank is a member of the Federal Deposit Insurance Corporation (FDIC). Under regulatory definitions, Mercantile is “Well Capitalized”, the highest level attainable.
  • The FDIC insures deposits up to $250,000, per depositor, at each insured bank. To learn more about accounts that are covered and ownership categories the FDIC has a tool on their website here:
  • The Federal Reserve Board has announced programs that assure banks will have the ability to meet the needs of all their depositors.  These programs are designed to support liquidity needs and enhance the stability of the banking system.
  • Mercantile Bank is built upon strong relationships which have been built over many years with customers and communities. 
  • If you have any questions about your coverage, we encourage you to contact us at 800.453.8700. We are prepared to assist you in ensuring your deposit needs are met.

Yes, you may pay off your loan prior to maturity without penalty.

The higher your credit score the better your interest rate will be.

Your interest rate will depend on a number of factors including but not limited to: type of loan, credit score, type of collateral, and age of collateral. Please ask your lender for additional information.

No, we do not require you to have a deposit account with Mercantile Bank in order for you to be approved for a loan; however, we would love for you to consider having your deposit account(s) with us. We have several different accounts to choose from and as an added bonus if you have automatic debit of your loan payment from your Mercantile Bank account we will give you a .25% discount on your loan rate (applies to installment loans only).

How long the process takes depends on the type of loan you have applied for and how quickly we can obtain the necessary supporting documentation. A Consumer Loan can typically be approved and closed in the same day; however, a Home Equity Line of Credit (HELOC) will take 14 business days or longer depending on the complexity of the transaction. On a Consumer Loan you will receive the funds the same day as closing. On a HELOC it may take an additional three business days to receive the funds if the loan is subject to rescission. Please ask your lender for additional information.

Fees will vary depending on the loan type. Please ask your lender for additional information.

We can secure Consumer Loans with automobiles, motorcycles, travel trailers, ATVs, boats, snowmobiles, and some other additional consumer goods. Home Equity Lines of Credit can be secured by primary or secondary residences that are stick built or modular homes.

The documentation needed will depend on the type of loan you are applying for. For a Consumer Loan we may need income documentation such as a current paystub or if you are self-employed your last two tax returns; collateral information, such as a vehicle title or dealer invoice; and insurance information. For a HELOC we will need income information, legal description of the property, homeowner's insurance, and a recent tax or assessor's statement. Please ask your lender for additional information.

Yes, we can set up automatic payments to be pulled directly from your deposit account. As an added bonus if your payment is pulled from your Mercantile Bank deposit account we will give you a .25% discount on your loan rate (applies to installment loans only).

Mercantile’s Lienholder Identifier Number with the State of Michigan is LH117727. Please provide this number to the dealership at the time you are purchasing your vehicle.

Mercantile offers a number of options for making contributions to your HSA:

  • Set up direct deposit contributions through your employer
  • At an ATM using your Mercantile HSA Debit Card
  • Online by logging into your Mercantile personal online banking and scheduling a transfer from another Mercantile account or an external transfer account
  • In person at any of our branch locations
  • By mail with an HSA Contributions Instruction Form to HSA Support

Previous year contributions can be made from January to the April tax filing deadline of the following year. To make a previous year contribution, please complete the HSA Contribution Form and mail it to the Bank along with your check or visit any branch to complete the form and deposit in person. Please note - any wire, ACH or Internet Banking transfers, or other electronic deposits will always be coded as current year contributions and you must notify the Bank and complete the HSA Contribution Form to ensure your deposit is coded properly.

Contact your employer to request that a portion of your payroll be direct-deposited to your Mercantile HSA.

Enroll in Online Banking at and choose Enroll in Personal Online Banking.  Once enrolled you can login with your Login ID and password.

Yes, however the money you spend for these expenses does not count toward your deductible.

Always present your insurance card before paying for a medical expense to ensure the expense is submitted to your insurance company.

All doctor´s office, emergency room and medical visits should be billed to your insurance company before you pay any expenses. Wait until you receive your insurance statement showing any balances owed before you pay an expense. Your insurance company will keep track of funds that had to be paid by you and will accrue those totals to determine your deductible balance. 

Prescription costs are also submitted to your insurance provider so that those costs can also be tracked toward your deductible.

If you used your Mercantile HSA to pay for a non-qualified expense in error, you may be eligible to fix the error and return the funds to your HSA. Please contact one of our HSA specialists for assistance.

Unfortunately, you cannot combine HSA funds owned by two different individuals. If you combine funds from HSAs owned by two different individuals, you could be penalized by the IRS.

Funds in your HSA belong to you and are independent of your employer. You may continue to use the funds to pay for qualified medical expenses tax-free. However, you can only continue to contribute to the HSA if you continue to participate in a qualified High-Deductible Health Insurance Plan after you leave your employer.

You can continue to use the funds in your HSA to pay for qualified medical expenses tax-free after you have retired. When you enroll in Medicare, you can use your HSA funds to pay Medicare premiums, deductibles, co-pays, and coinsurance under any part of Medicare.

When you reach age 65 or older, you may also use the funds in your HSA for non-qualified expenses; however, non-qualified expenses distributed from your HSA are subject to income tax should be reported in your annual income tax filing, but are not subject to IRS penalties.

The funds in your HSA will be passed on to the beneficiary(ies) you named when you set up your Mercantile HSA.

You'll need to complete IRS form 8889. Mercantile will send a number of documents to you with information regarding your HSA that you can use to complete your taxes.

  • Your December HSA statement will include a year-end summary of recorded contribution and distribution amounts.
  • 1099-SA forms are mailed in January and will disclose the total amount of distributions recorded for the year.
  • 5498-SA forms are mailed after April 15th and will disclose the final total of contributions made to your HSA for the year. 
  • These forms are mailed after April 15th because you are allowed to make Previous Year contributions to your HSA up until the tax-filing deadline.

The many benefits of administering your own HSA make it the right choice for so many different people and scenarios. While every situation is unique, the following represent some of the key benefits associated with a Mercantile Bank HSA.

  • Ease of Contributions: Contributions can be made via direct deposit from your paycheck, making a contribution in person at any Mercantile Bank location, using our online banking tools to either deposit a check or make a transfer from another Mercantile account or by initiating an electronic transfer using Mercantile's online banking from your bank account.
  • Ease of Withdrawals: Mercantile Bank HSA account holders receive a Mercantile Bank HSA debit card that can be used to cover eligible expenses from your healthcare provider just like traditional debit cards. Providers can swipe the card and the total of the eligible expenses are automatically deducted from your account. No transfers and no balancing accounts.
  • Ownership of Account: Unlike "Flex" accounts that are funded yearly and operate under a "use it or lose it" scenario, HSAs and the accumulated balance of funds remain the property of the employee and continually "roll over" every year without penalty or risk of loss. This way, HSA customers can increase the account balance by earning interest on funds that are not applied to a qualified medical expense.
  • Build on the Value of Your Account: Mercantile Bank HSAs provide some of the most competitive interest rates available.
  • Tax Advantages Abound: Contributions made to your HSA are 100% tax deductible just like an IRA (up to the legal limit). If your employer offers payroll deductions, you can make contributions to your account in pre-tax dollars when the allocated deduction is removed prior to taxes being applied. Contributions can also be made as an above-the-line deduction that allows you to reduce your taxable income by the amount you pay into your HSA saving you money every pay period. Please consult with your tax advisor regarding the tax benefits of Health Savings Accounts.
  • Going Mobile: Because you own your HSA plan, it follows you everywhere. Whether you are making a career change, moving to another state, or temporarily find yourself between jobs, the money in your HSA is yours to keep and apply toward all approved out-of-pocket healthcare costs you may incur.
  • Future Benefits: Even as you age and consider retirement, your HSA will deliver big dividends. HSA funds can be used toward qualified long-term care premiums as well as Medicare premiums and out-of-pocket expenses. Your funds can even be accessed to cover future living expenses after the age of 65 (taxed at your future income tax rates.)

Funds that are withdrawn to pay costs not covered by a high-deductible insurance plan can be accessed tax free for the qualified medical expenses listed below. Funds withdrawn to cover costs not associated with qualified medical expenses are subject to taxes at your current tax rate and an additional 20% tax penalty.

Examples of eligible medical expenses

(potentially covered by HSA funds)

  • Acupuncture
  • Alcoholism treatment
  • Ambulance
  • Artificial limb
  • Artificial teeth
  • Breast reconstruction surgery (mastectomy-related)
  • Chiropractor
  • Contact lenses and solutions
  • Cosmetic surgery (if due to trauma or disease)
  • Dental treatment (X-rays, fillings, braces, extractions, etc.)
  • Diagnostic devices (such as blood sugar test kits for diabetics)
  • Doctor´s office (including physicians, surgeons, specialists or other medical practitioners) visits and procedures
  • Drug addiction treatment
  • Drugs, prescription
  • Eyeglasses and exams (for medical reasons)
  • Eye surgery (such as laser eye surgery or radial keratotomy)
  • Fertility enhancements
  • Hearing aids (and batteries for use)
  • Hospital services
  • Laboratory fees
  • Long-term care (medical expenses and premiums)
  • Nursing home
  • Nursing services
  • Operations/surgery (excluding unnecessary cosmetic surgery)
  • Osteopath
  • Physical therapy
  • Psychiatric care
  • Psychologist
  • Special education (for learning disabilities)
  • Speech therapy
  • Stop-smoking programs (including nicotine gum or patches)
  • Vasectomy
  • Weight-loss program (to treat a specific disease diagnosed by a physician)
  • Wheelchair

Ineligible medical expenses

(not covered by an HSA and subject to taxation plus 20% tax penalty)

  • Advance payment for future medical care
  • Amounts reimbursed from any other source (such as other health coverage or a Flexible Spending Account)
  • Babysitting, child care and nursing services for a normal, healthy baby
  • Betting (including lottery, gaming, chips, or track wagers)
  • Cosmetic surgery (unless due to trauma or disease)
  • Diaper service
  • Electrolysis or hair removal
  • Funeral expenses
  • Gasoline
  • Health club dues
  • Household help
  • Illegal operations and treatments
  • Maternity clothes
  • Meals
  • Nutritional supplements
  • Over-the-counter drugs and medicines other than those used exclusively for medical purposes
  • Personal use items (such as a toothbrush or toothpaste)
  • Swimming lessons
  • Teeth whitening
  • Weight-loss program (unless prescribed to treat a specific disease)

A Health Savings Account (HSA) delivers added benefit to employees with an existing qualified high-deductible health insurance plan. Employees can use their HSA to support costs not covered by an existing employer-administered insurance plan. Prescriptions, co-pays and deductibles are just some of the eligible expenses that a Mercantile Bank HSA can help.

  • A Mercantile Bank HSA combines a bank account with a High Deductible Health Plan (HDHP) featuring an annual deductible.
  • The HDHP covers catastrophic illness and injury claims for individuals and their families.
  • The HSA is used to cover routine expenses until the deductible is met.
  • Both individuals and employers may contribute money to an HSA.
  • Balance of the account grows tax-deferred from year to year.
  • HSAs are fully portable and can move from job to job.

Anyone who is:

  • Covered by a high-deductible health insurance plan
  • Not covered under another health insurance plan
  • Not enrolled in Medicaid
  • Not being claimed as another person's dependent

If you meet all the criteria above, we encourage you to Open an HSA Account or to contact a Mercantile Bank HSA specialist to get your questions answered so you can begin to experience the benefits of a Mercantile Bank HSA.

If you replace or update your device, your Mercantile Bank debit or credit card(s) will not be transferred automatically. You will need to set up or download the Wallet again and re-add your cards on the new device.

If your device is ever lost or stolen, you can suspend or lock the Wallet, or call Mercantile Bank using the number found on the back of your card to suspend your cards. You can continue to make purchases using your physical card even when the Wallet has been locked or suspended.

If your card has been lost or stolen, call us immediately.

  • 1.800.453.8700

Purchases made with your Mercantile Bank credit and/or debit cards have protection for any unauthorized card transactions. This means that you will not pay for any unauthorized transactions as long as they are reported promptly. Certain limitations apply. Please see your cardholder agreement for complete details.

You can add multiple Mercantile credit and/or debit cards into the Wallet on multiple devices.

You will need to add the card to the Wallet as if it were new.

If you have more questions regarding Mercantile Bank products, please call 1.800.453.8700 during normal business hours.

If you have more questions regarding any of the Wallet applications, please visit:

The Online Banking System allows you 3 logon attempts to the system before it will lock you out. When you login, you can click the box for "Forgot Password" and you will be sent a new Secure Access code to proceed. Once you have successfully entered that code, you can enter a new password. If you are locked out, please contact the Mercantile eBanking Department at 800.453.8700.

MercMobile, MercDebit, Merc mRDC, Mercantile Mobile Mortgage

When you login to Online Banking, select Menu/Services and then eStatements. You will then need to enter a code to proceed.

Yes, visit our mortgage loan center to access our online application.

For more information on Online Banking features and functionality, please use the Help option from the main menu within Online Banking. For additional assistance, please contact us at 800.453.8700 during normal business hours.

Privacy & Security

For more information on Online Banking features and functionality, please use the Help option from the main menu within Online Banking. For additional assistance, please contact us at 800.453.8700, option 2 during normal business hours.

Business customers interested in enrolling for internet banking, please call Online Support at 800.453.8700 during normal business hours.

Privacy & Security

The available account balance in online banking is adjusted as transactions are presented to Mercantile Bank for processing throughout the day.  Pending transactions from the current business day are removed from pending and begin posting to the account history in online banking during the nightly update starting around 10:00 pm ET.  During this nightly update, running balance totals in the account activity screen will not include pending transactions until the update is complete, usually by 5am ET.  During the nightly update, the available balance is an accurate current available balance.

1) Set up your account, 2) Add all accounts, 3) Categorize transactions, 4) Create budgets.

  1. Log in to online banking and find the link for "MercMoney" in the left menu. Accounts from Mercantile Bank will automatically begin syncing to MercMoney. Follow the instructions in the setup wizard to add your accounts with other financial institutions. Enter your profile information to complete the setup.
    Online Banking menu image
  2. When the initial setup is complete, open Accounts and verify that you have added all of your financial accounts. Add any missing accounts and manual accounts for property, like homes or vehicles. You can also create manual accounts for accounts that are not supported or are broken. See "How do I fix an account that is ‘broken’?"
  3. After all of your accounts have been added, open Transactions and review your transactions for accuracy. Transactions are automatically categorized for you, but they are not always accurate and may need to be re-categorized. Your changes will be applied to future transactions. You may want to enter additional details about your transactions; see "How do I manage my transactions?"
  4. With your transactions correctly categorized, you can easily create budgets based on your actual spending history. Open Budgets and follow the instructions to generate a budget. You can also create budget manually. See "How do I create a budget?"

Login to Internet Banking from a desktop or mobile device and choose MercMoney from the Navigation menu. 

Open Accounts and click on the + icon. Type the name of the institution to search our database, then select the correct option from the list and enter your login credentials.

If the institution is not supported, you can add and manage your accounts manually. This will require that you periodically edit your account to update the balance. See "How do I edit an account?" Entering manual transactions will also update your balance accordingly. See "How do I add a transaction?"

It depends on the institution, but you will usually need to add each account separately. This means that if you have 3 accounts with an institution, such as checking, a loan, and a credit card, you will need to enter your login credentials for that institution for each account.

Open Accounts and click on the account you wish to change. This opens the account detail view where you can change an account name, type, and interest rate. You can also edit the account balance of manual accounts.

Not all institutions are able to send us that information. You should always check your loan details to make sure they are correct in MercMoney.

Open Accounts and click on the account you wish to delete. Click on the trashcan icon and confirm your decision to delete the account. You cannot delete an account from your primary institution, so the trashcan icon will not be present.

Note that deleting an account also deletes all historical balance and transaction data associated with that account. Do not delete an account unless you are sure you are okay with losing all associated data.

No, so only delete an account if you're okay with losing all history for that account. Otherwise, try adjusting the Show/Hide account settings for the account instead. Also, know that if you delete an institution, all accounts under that institution will also be deleted.

From Accounts, broken accounts will be displayed with an exclamation point in red over the top right corner of the account name. Click on the "broken" account to open the account detail view, then click on the red bar across the top to attempt aggregation again. You may be required to re-enter your login credentials.

If the account continues to fail:

  1. Login to the financial institution's online banking to verify your login credentials are correct and that there are no holds on the account preventing you from signing in.
  2. Add the account again, and pay special attention to the URL to make sure you are attempting to add the correct financial institution. Many institutions have similar names and websites.
  3. Contact Online Support, M-F 8:00am - 6:00pm and Saturday 9:00am - 1:00pm at 1.800.453.8700 . See "How do I get help?"

There are many types of online banking accounts, and not all are compatible with common aggregation methods. MercMoney utilizes multiple aggregation sources and uses an aggregation engine to provide the best possible coverage, but when an unsupported institution is encountered, a manual account can be created in the Accounts widget.

Yes! Open Accounts, click on the Cash or Property account types on the left, then click on the "+" icon in the menu bar. Change the account type and enter your account details, then click "Create This Account".

You will need to update this account manually by updating the balance and entering transactions periodically.

Open Accounts and click on "Property" from the list of account types on the left. Then click on the "+" icon in the menu bar. Enter the account details and click "Create This Account".

Manual transactions can only be added to manual accounts. Transactions associated with linked accounts will be imported automatically when you sign on. To add a manual transaction, open Transactions and click on the "+" icon in the menu bar.

Select a manual account from the dropdown menu, enter the transaction details, and click on "SAVE TRANSACTION".

Click on a transaction to open the transaction detail view. To categorize a transaction, click on the category field of the transaction line and select from the dropdown menu. You can also edit other transaction details like payee description, tags, flags, and memos, as well as split a transaction from this view.

When transactions are imported, they are auto-categorized based on how you and other users have categorized similar transactions. When you change a transaction category, MercMoney will remember your preference for next time.

The transactions list provides an easy way to review or find transactions from any account, over any time period. You can use the date range selector to determine what time frame the transactions represent, or you can use the search field to filter by payee, account, tags, amount, category, or date.

You should always take a moment to review newly imported transactions. Not only does this help you keep track of your spending, but will also help you to quickly identify fraudulent charges. When reviewing your transactions, make sure you recognize the transaction, and verify that it is categorized correctly.

To view more or edit detail on a transaction, just click on it. You can customize your transactions using the following features:
  • Category - Categorize transactions so your spending will be accurately reflected in Spending and Budgets. Click on the category field and select the correct category from the dropdown list.
  • Flags - Flag a transaction "B" for business-related, "P" for personal (default), or mark it with a flag to make it stand out in the transaction list.
  • Tags - Create custom tags to label transactions for searching. For example, you may wish to tag tax-related expenses, or expenses related to a vacation or family goal.
  • Memo - Add a memo when you need to remember special details about a transaction.
  • Split - Split a transaction between multiple categories to account for specific amounts in Spending and Budgets.

MercMoney will import 90 days of transaction history from your primary institution. The amount of data that will be imported from other institutions depends on the institution.

After the initial account setup, MercMoney will pull new transactions from the last 30 days, so you must sign in at least once every 30 days to avoid creating a gap in your data.

MercMoney will save your history for as long as you keep your account with Mercantile Bank.

Click on the transaction you wish to change to open the transaction detail view, then click on the category field to view a list of existing categories. You are able to create a custom subcategory beneath any of the main categories, but you cannot create a new main category. Hover over the main category your custom subcategory will belong to, then click on "+ Add A Category" in the side menu. Name your subcategory and click "+ Add" to confirm.

There is a special category called "Transfer" for loan payments and transfers that will exclude those transactions from Spending and Budgets.

A word on loan payments - All loan payments have two transactions: the negative transaction of money leaving your bank account, and the positive transaction of money paid towards the debt, decreasing what you owe. (Note: This is not the case with credit cards. Keep reading to see more on credit cards.) The negative transaction should be categorized as the expense, so your budget will reflect your spending on that category. The positive transaction should be categorized as a transfer, so it does not void the expense of the loan payment.

For example: The negative transaction of a mortgage payment would be categorized as Home: Mortgage & Rent, and the positive transaction would be categorized as Transfer: Mortgage Payment. You can create custom subcategories for all of your loan payments if you wish.

A loan payment essentially is a transfer. The money leaves your bank account, but you then own that much more of the asset associated with the debt, like a home or car. Credit cards are different, because there is no asset associated with the debt. A credit card payment is repayment for money borrowed, on transactions already accounted for in your budget. If you actively use your credit card, payments on that card should be categorized as Transfer: Credit Card Payment. If you are paying off your credit card, and would like to track your progress in Spending and Budgets, see "How do I budget for paying off debt?"

If you are working on paying off a credit card, congratulations! We recommend that you create a custom subcategory to track your progress, such as Bills & Utilities: Credit Card Payoff. This will allow you to see in Spending and Budgets how much you have spent towards paying down that debt.

It is recommended that you do not use your card for purchases while you are paying it off. Not only will it be easier to stick to your goal if you just don't use the card, but it is more difficult to account for your credit card payoff if you are actively accruing debt on the card.

If you must use your credit card while you are paying it off, you can split the transaction between Transfers: Credit Card Payment for the portion that pays back what you spent, and Bills & Utilities: Credit Card Payoff for the amount that will be applied to the previous balance.

If you also want to track separately how much of your credit card payment is applied to interest vs. what you owe, see "How do I account for interest paid on a loan?"

Some institutions send a separate transaction for principle paid and interest paid on a loan, but some institutions only send a single transaction for the total amount paid. If your institution sends a single transaction for principle + interest paid, you can split the transaction.

Click on the transaction to open the detail view, and click on "+ Split This Transaction" at the bottom. Use the Fees and Charges category to track your interest paid. You can add a custom subcategory for all your loan payments if you wish. You will need to obtain the amount spent on interest vs. principle from your financial institution.

Note: The debt account balance will always be accurate, as the institution sends us the remaining balance regardless of the transaction is displayed.

The Spending Wheel displays your spending across all categories for the time period selected. Use the date range selector to specify what date range you would like to view.

You can click on a category from the list, or in the wheel, to view your subcategory spending. Then click the center of the wheel or from the list to view the specific transactions in the selected subcategory.

Note: Your transactions must be categorized for the Spending Wheel to show actual spending. If your spending in a given category looks wrong, review your transactions for inaccuracies.

Open Budgets, click on the "+" icon in the menu bar, and select a category from the dropdown menu.

Budgets can help you track and control your spending in select budget categories. You can use budgets to track all of your regular household expenses, or just specific categories that you want to monitor more closely. Budgets are useful for setting and working towards financial goals, or simply being more aware of your spending habits.

Review your transactions to make sure they are categorized correctly. A "missing category" is caused by a large income transaction that has been categorized inappropriately.

Click on the gear icon in the menu bar to open Settings, and then click on the Alerts tab. Click the envelope icon next to each alert you want to receive.

Click on the gear icon in the menu bar to open Settings, and then click on the Profile tab.

Click on the gear icon in the menu bar to open Settings, and then click on the Mobile Devices tab. Enter your old password, choose and confirm your new password, and click "Change Password" to save.

Absolutely. Industry leading encryption technology is used to protect your data. MercMoney places your privacy and security as its highest priority. The MercMoney desktop applications are as secure as your regular home banking.

Click on the "?" icon in the menu bar to open the help options. You can watch a tutorial on the widget you're using, search our knowledge bank for answers, or submit a support request.

To get help from an iPhone or iPad, open Settings and tap on "Feedback".

Email and print functionality is currently available exclusively on the iPad MercMoney mobile app.

Browser support will vary based on the browser version. More than 74% of all Internet users now use a modern browser like Google's Chrome where less than 14% still use limited browsers like Internet Explorer 7 and 8 because of their inability to take advantage of the newest features. If your browser is incompatible, the software will alert you and ask you to upgrade.

MercMobile® allows you to bank anytime, anywhere from your mobile phone. You can elect to use text banking, mobile app banking, or both, depending on your device and mobile service plan.

MercMobile® uses the same security features as internet banking (https, 128-bit SSL encryption, Secure Access Code).

We recommend you use our bank website to research which apps have been developed for the various devices which are supported. Below are the links for accessing these apps:

You must have a text plan to use text banking and a data plan to access browser banking.

Make sure you have the MercMobile app installed on your device and login as usual.

You may want to change your password, until you locate or replace your device. Just login to Internet Banking with your computer and go to Settings, Security Preferences.

For iPhone and Android users, you must remove the installed app from the old device, and then add it to the new one.

MercMobile® is free of charge, however, you may incur text or data charges from your wireless provider.

For mobile banking, you can just uninstall the app. To unenroll in text banking, login to Internet Banking and go to Settings, Text Enrollment, and toggle the On/Off button - you can also text "stop" to 226563.

Only 1 device can be used for MercMobile® text banking, however multiple devices can be used for MercMobile® app banking.

Although we encourage you to meet with one of Mortgage Lenders in order to complete a mortgage application, you can also submit an application via phone, our website, fax or mail.

There are several mortgage programs available and selecting the right program is vitally important to your long term financial health. We highly encourage you to consult with one of our Mortgage Lenders who will assist you in reviewing several programs and help you determine which is best for you.

Yes, you may pay off your loan prior to maturity without penalty.

The higher your credit score the better your interest rate will be.

Your interest rate will depend on a number of factors including but not limited to: type of loan, credit score, type of collateral, and down payment. Please ask your mortgage lender for additional information.

No, we do not require you to have a deposit account with Mercantile Bank in order for you to be approved for a loan; however, we would love for you to consider having your deposit account(s) with us.

How long the process takes depends on the type of loan you have applied for and how quickly we can obtain the necessary supporting documentation. On average, most purchase transactions close within 30 to 45 days and refinances between 45 and 60 days. We can be flexible with your processing times to best accommodate you.

Fees will vary depending on the loan type and are a very important aspect to consider when applying for a mortgage. It is best to consult one of our mortgage lenders to review several different loan programs, rate options, and fee structures. There are also ways for your fees to be included in your mortgage on some programs.

In most cases, we will complete a full appraisal of the subject property. This will be the best way for us to determine the loan amount for the transaction. You will receive a copy of the appraisal for your records. In some transactions, we are able to waive the appraisal.

The documentation needed will depend on the type of loan you are applying for. It is best if you consult with one of our Mortgage Lenders for a complete list of documents needed for the items needed will vary depending on the loan you apply for and the terms of your transaction. However, in general, we will need to verify you income through paystubs and tax returns, asset statements (bank statements) as well as proof of Home Owners Insurance. There will be additional items needed as we process your loan request.

Yes, we can set up automatic payments to be pulled directly from your deposit account.

The routing number for Mercantile Bank is: 072413829

Yes. You can order checks online when you login to Online Banking and in the Services section of the menu choose check reorder.

Live ATMs are a new way of banking, similar to a video chat or FaceTime!  You still have the option to use the machine as a traditional ATM, but you can also meet with a banker just like in the branch.

During Live ATM Banking hours, the screen will have 2 options; either touch the screen to speak with a Live Banker or insert a Card for a standard ATM transaction.  If you choose to touch the screen one of our tellers will appear onscreen as a video conference, similar to FaceTime or Skype, and they will assist you with your transaction.

  • Live ATM Bankers are available to assist you during the following extended hours at our drive thru locations:
    • Monday-Friday 8am-6pm
    • Saturday 9am-1pm
    • The ATM feature is also available 24/7
  • Virtual Banking Centers
    • Monday-Friday 9am-5pm

These individuals are Mercantile Bank employees that live and work in the communities we serve.

Yes! All of our branches will still have Mercantile employees during regular business hours. 

Yes!  Most of our offices offer traditional drive thru services while some drive thrus include our Live ATMs.  Either way, you will be greeted with a friendly Mercantile Bank employee that can take care of your needs.

No, the ATM option is still available on all of our Live ATMs if you would like to insert your card instead of speaking with a Live ATM Teller. The Live ATMs can do many types of transactions that a standard ATM does not offer.

  • Live ATM tellers can assist Mercantile Bank customers with the following:
    • Deposits (check, cash or both) & Cash Back
    • Cash Withdrawals (the Live ATMs carry $50’s, $20’s, $5’s, $1’s, quarters, nickels and pennies)
    • Customer Check Cashing
    • Loan, Credit Card and Safe Deposit Box Payments
    • Transfers
    • Small Currency Exchanges (no rolled coin)
    • Print Account Balances on Receipts
  • Live ATMs cannot:
    • Accept Deposits with envelopes, sticky notes, paperclips, staples, etc. (just like our ATMs)
    • Accept Coin for Deposits
    • Issue Cashier’s Checks or Money Orders
    • Print or Accept Full Size Documents (statements, paperwork, etc.)

ClickSWITCH removes the hassle of contacting all of your billers and depositors to inform them of your new account information. You input your payment and direct deposit information to our secure ClickSWITCH system, submit the switch and we’ll do the rest. You can monitor the progress of your switches by clicking on the “View Existing Switches” on the home screen of your Dashboard.

Yes. ClickSWITCH uses the latest in online encryption protection to gather and store your switch information. Additionally, the ClickSWITCH facilities adhere to the highest industry standards with regard to the security of your personal information.

If you have any questions on the ClickSwitch process, you can contact us Monday - Friday 8:00 am - 6:00 pm, Saturday 9:00 am - 1:00 pm EST

You’ll need to gather all of your automatic payment and direct deposit information to get your switches started. A previous statement is a great source of information for the automatic payments and direct deposits tied to an account.

A recurring payment is a regular, ongoing payment that is initiated externally to your bank account, such as a monthly insurance bill, utility payment or automobile loan payment.

A direct deposit is any payment that you receive from an organization directly into your account. These could include payroll direct deposits, government direct deposits (Social Security, Disability, etc.) and dividend direct deposits from investment accounts.

Submitting a switch typically takes less than 90 seconds.

Once a company receives the form, recurring payment and direct deposit switches typically take 5-15 business days. Since the timeframe depends on the company receiving the switch request, it’s always a good idea to review your switch status page for the most current information regarding each switch and to continue monitoring your accounts. Timing for each switch can vary depending on the type of payment or deposit, the biller or depositor and the method needed to switch the payment or deposit.

The easiest way to check the status of a switch is to look at the “Status” column of your ClickSWITCH account. Switches that have been completed and confirmed by your biller or depositor will display a “Completed” status. Switches that are still in process will display a “Mailed” status.
For switches that have a mailed status for 15 days or more, we recommend contacting the company to confirm the switch is completed or check your account.

Monitoring your switch status is an important part of moving your account. It is advisable to keep enough money in your old account to cover each payment until the switch status for that payment has changed to “Completed,” or you’ve confirmed with your billers that your payment account information is updated in their systems.

We recommend keeping enough money in your old account to cover each payment until the switch status is
“Completed.” This is especially important for any payments that might be due during the 14 days after you initiate a switch.

Occasionally, after you have submitted a switch for processing, our research team determines that the company requires you to update your banking information with them online. When this happens, your switch will show an “Action Needed” status. You may also see an “Action Needed” status if the switch is rejected for other reasons. To see the details of the action you need to take, you can click on the Edit icon in the Actions column.

If you provided an email address during enrollment and have allowed alert emails, you will receive switch updates via email. If not, you will need to log in to ClickSWITCH and view the switch status.

Since bill payments are not automatically recurring, you’re not able to use ClickSWITCH for them.

These permissions are managed by administrative users of Mercantile Bank within the PayRecs platform. Typically the same users who are responsible for Online Banking permissions.

Changes and updates to limits are handled by Mercantile Bank within the PayRecs platform. Limits can be set per User and per Company. User limits cannot exceed company limits.

PayRecs uses state of the art security including in-app features like two-factor authentication (2FA), dual approval of new recipients and dual approval of outbound transactions.

All international recipient data is stored in the PayRecs platform.

You can edit recipient information directly in the PayRecs platform. Any modified recipient will require approval from a secondary approver prior to using.

Yes we require dual approval for your security.

Yes we require dual approval for your security.

Yes. Adding an email address allows you to send remittance information to your vendor as well as any special instructions or notes.

Customers can initiate payments 24/7. All transactions will be settled the next available business day based on time zones.

PayRecs captures this information. These additional details help PayRecs deliver your
payments faster and more reliably.

Most transactions can be reversed prior to secondary approval, but there may be a cost associated with this action. Once a payment has been approved by the secondary approver, it cannot be canceled or reversed.

You have up to six days to approve a transaction. If no action has been taken, you’ll be required to approve or cancel the transaction. Canceling a transaction may result in additional costs to you.

No. We lock your rates for you as soon as you create the payment so it will not change even if it takes your secondary approver time to approve the transaction.

In the case of non-standard currencies (e.g. INR and TWD), the rate will not be locked until the secondary approver takes action.

All transactions require online confirmation from a secondary approver.

Yes. PayRecs encourages dual approval processes for outgoing transactions and new recipients. These are handled online through PayRecs platform.

PayRecs instantly posts transactions to your accounts. This will show as a funds transfer on your account statement.

Both you and your recipient can see the details of the payment inside the PayRecs platform.

PayRecs validates recipient information as an added security and deliverability feature. If the information does not match the recipient’s bank details, it will not be accepted. In the event of rare cases where you have valid information, we will be able to create the recipients for you and still require someone on your team to approve the information.

We support kids and grownups of all ages. No minimum (or maximum) age here.

Greenlight is a debit card for kids, not a credit card. Parents load money onto the card from their
own funding source connected through their Greenlight app. And because it’s a debit card, kids
can’t spend what isn’t there. That’s a pretty valuable life lesson.

Kids and parents will both use the same Greenlight app you see in the app store, but have two
different experiences and individual login credentials. Parents can set up their child’s login under
the child’s profile settings.

The Greenlight card can be used almost anywhere Mastercard is accepted, online, and in-store. “Almost,” because our cardholders are kids, and we’ve put important guardrails in place. Greenlight also works internationally in 150+ other countries, with no foreign transaction fees. No need to let us know if you travel abroad — you’ll have enough to remember.

All we need to get you started is some basic information.

  • Your email address
  • Your mobile phone number
  • Your child’s/children’s name(s)
  • Your legal first and last name
  • Your physical address
  • Your date of birth
  • Your Social Security number (SSN). For information on why we ask for your SSN, learn more about the U.S. Patriot Act.
  • A valid debit card or bank account

Bank Account
If you are prompted to verify your Mercantile account when manually adding your funding source, you
will receive 2 small deposits of $1.00 or less in your bank account within 1-2 business days. To
verify your account as a funding source, you will need to input the 2 micro deposit amounts
into your Greenlight app when prompted to verify.

If you do not see these deposits within 3 business days, please contact Mercantile Bank and we can take a look at the status of your account. Once you complete verification, the 2 micro deposits will be removed from your bank account to offset the deposit amounts.

Debit Card
Once you add your debit card as a funding source and make your initial funding load, you should
see 2 transactions on your debit card that add up to the initial load amount. You will need to
confirm these transactions within 3 business days in the Greenlight app to verify your debit card.

If you do not see these transactions within 4 business days, please contact Mercantile Bank so we can take a look at the status of your account.

After completing registration or requesting a replacement card, your debit card will arrive within
7-10 business days. If you would like to expedite your shipping for your card to arrive within 2-3
business days, you can call our customer service team at 888-483-2645 within 12 hours of signing
up. You can request to have your shipping expedited for a one-time fee of $24.99.

When your child's card arrives, follow these simple steps to activate it right away:
  1. Open your Greenlight app. From your Parent Dashboard, you should see a notification prompting you to activate your child’s card.
  2. Tap on the notification and input the card's expiration date in the app to activate it.
  3. Next, visit your child's dashboard by clicking their square at the top of your Parent Dashboard.
  4. Select "Manage Card" then "Set debit card PIN." After the PIN is set, your physical card is activated and ready to use!

We have made it super easy to check your child's spending history.

1. Navigate to your child's dashboard.
2. Click on the Spending tile.
3. At the top right, click on "History."

You then have the ability to filter the view to see spending history for the last 30 days, 90 days, or 12
months as well as grouping transactions by stores.

Please contact Greenlight Customer service by calling (888) 483-2645 or texting (404) 974-3024
and inform them you would like to be added to the Mercantile Bank partnership program.

No, Greenlight is its own individual app, but within the Greenlight app you can send money to your
child’s card, turn their card on/off, set up spending controls, allowance, chores and more.

Greenlight debit cards are FDIC-insured through Community Federal Savings Bank up to $250,000 and come with Mastercard’s Zero Liability Protection. Greenlight blocks ‘unsafe’ spending categories, sends real-time transaction
notifications, lets parents turn cards off at any time, and gives parents flexible ATM and spending controls.

Please note that by using this link, you will be leaving Mercantile Bank's (the 'Bank') web site. The Bank takes no responsibility and makes no warranties, either expressed or implied, for any of the services, products or information available via this outside web site. The Bank is not responsible for and does not monitor the content, performance, policies (including any privacy policies) or administration of this outside web site, which are the sole responsibility of their creators and do not represent, explicitly or implicitly, positions, policies or opinions of the Bank, its affiliates, its employees or its Board of Directors.