Why is Comun changing?
Comun is making changes so that we can offer our customers additional features and improve our services.
Is my account moving to a new bank?
Technically yes, if you agree to the new Terms & Conditions, your account will be updated to the new partner bank, Community Federal Savings Bank (CFSB). However, Comun will continue to manage your account services, just as we do today. You will retain many of the benefits you currently enjoy, and your account will continue to be FDIC insured with CFSB. If you don’t wish to move to the new partner bank, you can opt out and your account will be closed.
Is my money still insured by the FDIC?
Yes, your money will be insured by the FDIC through the new partner bank, Community Federal Savings Bank (CFSB).
What do I need to do?
Comun will be re-verifying all of our customers before the transition to our new banking partner. We already have your information so for most of our customers, there is nothing you need to do for this step. However, if any of your information has changed, such as your name or address, we may request you to provide us with documents that will validate those changes.
Once you have been re-verified, you’ll be given ample notification about when your account will transition. Then, you simply need to open the app, review the updated terms and conditions, and accept them by following the steps provided.
As part of the update, you’ll be sent a new card so if you need to update your address, you’ll be prompted to do so when you accept the new terms. Please note that this must be a physical address, PO Boxes will not be accepted.
What features are changing as part of the account update?
Some of the improvements we will be making include:
Additional funding options such as adding over 90,000 cash deposit locations
updated debit card design
Faster customer support assistance
Enhanced fraud detection to keep your funds secure
And so much more…
There will be a brief interruption to some funding features during the transition while we update these services. These include:
Card transfers
Check deposit
Bank transfer
If you click on a feature in the mobile app that’s not available, you’ll be notified accordingly. However, you can still fund your accounts through various other methods including ATM Deposits using your new card, Zelle, direct deposit, cash deposits, ComunYa (our internal payments platform), and more.
Will I receive a new card for my updated Comun account?
Yes, once you agree to the new terms we will send you a new card. Your physical card will arrive in the mail about 7-10 business days later and the digital version will be available once your update is finalized. Your up will be finalized once you activate your new physical card or by November 13, 2023. Please be sure to notify us if you have changed your address so that we can send your card to the right place.
How do I update my address to receive my new card?
When you open the Comun app to review and accept the new terms, you will be prompted to update your address if you’ve made any changes. Please note that this must be a physical address, PO Boxes will not be accepted. You can also request to update your address by reaching out to Customer Support.
How long will my current card continue to work?
Your current card will continue to work until you activate your new card, no later than November 13, 2023. Once you have accepted the Terms & Conditions your new physical card will be delivered via U.S. mail within 7 to 10 business days, and the digital version will be available once your update is finalized. Your up will be finalized once you activate your new physical card or by November 13, 2023.
Do I need to download a new app?
No, the transfer is meant to be as seamless as possible so you won’t need to download a new app.
Will my login information change?
Your login information will remain the same.
What should I do if I do not want to update?
If you choose not to accept the terms, your Comun account and associated card(s) will be closed and any account balance will be returned to you by check to your address on file within 60 days. The deadline to accept the new terms is November 13, 2023 so if you want to take advantage of the updated account features, be sure to agree to the new terms by the cutoff.
When is my account scheduled to be updated?
Your account will transfer on November 13, 2023. As long as you agree to the new terms prior to the November 13th deadline, you will continue to be able to access your account without interruption.
Will there be a change to the fees that Comun charges?
No, there will be no changes to the fees we charge. If you have questions about our current fee structure, please see our Schedule of Fees within the new terms.
Will my account number change?
Yes, actually both your account and routing number will change. Once the transfer has been completed, you will see your new account information in the same place you view it today.
Direct Deposit Section of the mobile app or
Settings > Account Information
If you’ve provided your account and routing number to your employer or to any third party for P2P or to pay bills, please be sure to update them with the new information as soon as possible so you don’t experience an interruption in service.
What is the new routing number?
The new routing number is 026073150.
If you’ve provided your account and routing number to your employer or to any third party payments apps or to pay bills, please be sure to update them with the new information as soon as possible so you don’t experience an interruption in service.
Will my referral rewards change?
Our referral program will not change and any unused rewards will transfer with your account.
Will my unredeemed referral rewards move over with my account?
Your unused rewards will transfer with your account!
What happens if I have a pending deposit or transaction?
Deposits and transactions started before you activate your new card will continue to post to your account. For any deposit or transaction beginning on or after you activate your card (or November 13th at the latest), you will need to provide your updated account information or use your new card. If there are any transactions initiated that did not settle before the update/activation of your new card, they will be transferred to your new account within one business day from the date of processing.
Will my direct deposit automatically move to the new partner bank?
Your direct deposit will not be automatically transferred. You will need to notify your employer of the updated account and routing number. This information will be available in the mobile app after your update by following these instructions:
Open the mobile app and go to the Direct Deposit section. There you will have three options:
Provide account number and routing number,
Use the pre-filled PDF form,
Use the auto transfer feature (powered by Pinwheel)
Will I need to relink my external accounts?
Yes, there will be a temporary interruption in this service, but once this feature is available, you will be able to relink your external accounts.
What happens to pending transfers?
If the transaction has not been processed prior to your account being updated, it will be returned to the originator. To be safe, you should stop initiating transfers to your Comun account within 5 business days before you acknowledge receipt of your new card or November 13th, whichever comes first.
Any pending transactions will be applied to your balance prior to your account transitioning. If a pending transaction fails, your new account will be adjusted for the amount that we provisionally credited.
Will I be unable to access my account at any point during the transition?
No, you will continue to have access to your account as long as you agree to the terms prior to November 13, 2023.
What are the terms of my account with CFSB?
The new terms are available here and you will also be able to view them in the Comun mobile app on October 30th.
What happens to my pending dispute investigation?
If you have an open dispute case, your account update may be delayed. Once your dispute case is finalized, you will be able to move forward with the account update.
Will the way you handle my personal info change?
Your account security will remain our top priority. If you have any questions about your account privacy, please refer to our Privacy Policy for more information.
The account is offered through Community Federal Savings Bank (CFSB). What does that mean?
Comun is a Fintech (or financial technology) company. This means we don’t have a bank charter, but instead, partner with CFSB, Member FDIC. This allows us to provide you with banking products and services, and to insure all your deposits with CFSB up to the legal limit of $250,000.
Why haven’t I received an update notice?
We are completing customer updates in phases to ensure the smoothest transition for all customers. If you didn’t receive a notice, it is likely because you are not part of the current wave of customers being updated. If you are being prompted to accept the new terms when you open the Comun app, then you are part of the current group. Please double check your email inbox and spam folders and if you still don’t see a communication from us, reach out to our Customer Support team for assistance.