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Effective Date: October 4, 2006
This Cardinal Online Banking and Cardinal Online Business Banking Disclosure is made in compliance
with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are
electronically initiated transfers of money involving a deposit account at Cardinal Bank. The following
disclosures set forth your and our rights and responsibilities concerning electronic funds transfers. In this
Disclosure, the words "you" and "your" mean those who sign as applicants or any authorized user(s). The
words "we", "us" and "our" mean Cardinal Bank. "Service" means Cardinal Online Banking and Cardinal
Online Business Banking including the bill payment option. All references to Cardinal Online Banking also
refer to Cardinal Online Business Banking. Please keep a copy of this document, and refer to it for help in
answering questions about the Service.
Cardinal Online Banking is an electronic banking service that permits you, through the use of your personal
computer (PC) or wireless device and the Internet, to do the following:
- Access your linked Cardinal Bank checking, savings, certificate of deposit or money market deposit
accounts
- Obtain balance and transaction information on your linked accounts
- Transfer funds between your linked accounts
- Pay Cardinal Bank loan payments
- Pay bills
- Send and receive electronic mail messages to and from the Bank
You can also download information from your linked Cardinal Bank deposit accounts directly into conforming
financial management software of your choice such as Microsoft Money® and Quicken® and perhaps
others.
Customers who wish to use Cardinal Online Banking must register, select a password and comply with
additional security provisions as well. You may use Cardinal Online Banking to access linked deposit
accounts at Cardinal Bank which you own and from which you have the unrestricted right to withdraw funds.
The Bank reserves the right to limit the types of accounts that may be accessed or linked.
The bill payment service permits you to use your PC or wireless device to direct payments from your linked
checking account to third parties. We may restrict your ability to pay bills to only one checking account. The
funds transfer allows you to transfer funds between certain Cardinal Bank accounts. You must register to
establish a bill payment account.
You are responsible for all transfers and bill payments you authorize using the Service. You authorize us to
debit your designated account for any transactions accomplished through the use of this service. If you
permit another person to use the Service or give them your user ID or password, you are responsible for
payments or transfers that person makes from deposit accounts linked to your Service. All bill payments that you make will be deducted from the account that you designated as your primary checking account for the
Service. Any obligations that you wish to pay through the Service must be payable in U.S. dollars. Funds
must be available in your primary checking account on the scheduled date. If the date you schedule a
payment to be initiated falls on a non-business day, funds must be available in your primary checking
account the following business day. After funds are withdrawn from your primary checking account, we may
make the payment either by transferring funds electronically to the payee, or by mailing the payee a check
drawn on a payment account maintained for that purpose.
You must schedule a payment to a new payee at least twelve (12) business days before the payment due
date, to allow us two (2) business days for us to set up the payee and verify information about your account
with the payee, and an additional ten (10) business days for the payment to reach the payee. For all
subsequent payments, you must allow at least ten (10) business days between the business date you
schedule a payment to be initiated and the payment due date. You must allow at least two (2) business days
after we receive any change to information you have given us about a payee on an account on your list to
reflect the change in our records. You must allow sufficient time for the payee to receive the payment and
process it before the payment due date. If you do not, you will be fully responsible for all late fees, finance
charges or other action taken by the payee. If you schedule your payment and follow all instructions
provided, but the payment is not received by the payee in a timely manner, the Bank will work with the
payee on your behalf to attempt to have the action reversed.
If you have told us in advance to make regular payments out of your account, you can cancel these
payments. Here’s how:
- Telephone us at (800) 473-3247 or write us at 8270 Greensboro Drive, #500,, McLean, VA
22102, in time for us to receive your request 3 business days or more before the payment is
scheduled to be made. If you call, we may also require you to put your request in writing and
get it to us within 14 days after your call.
If you order us to cancel one of these payments 3 business days or more before the transfer is scheduled,
and we do not do so, we will be liable for your losses or damages.
We are responsible only for exercising ordinary care in processing and sending payments upon your
authorization in accordance with this agreement. We are not liable in any way for damages you incur if you
do not have sufficient funds in your account to make the payment on the processing date, for delays in mail
delivery, for changes to the merchant’s address or account number unless you have made the change
sufficiently in advance, for the failure of any merchant to correctly account for or credit the payment in a
timely manner, or for any other circumstances beyond our control. If the checking account from which the
debit is scheduled does not have sufficient funds to issue a payment as of the date the payment is
scheduled to be deducted, your checking account may be charged a fee for non sufficient funds. In such a
circumstance we may choose either to deny your payment request or honor your payment request thereby
causing an overdraft for which you are responsible.
You may use the service day or night, seven days a week by signing on to the Service, however the Service
will be temporarily unavailable from time to time for scheduled maintenance and there may also be
unscheduled down time although we will work to minimize such interruptions in service. We are not liable in
any way for problems or damages you incur if the Internet, Internet service provider or wireless service
experiences down time.
There is no limit to the number of Cardinal Bank accounts that you can link and access through the Service
although there may be limits on the number of accounts you can link for payment to third parties for outgoing
payments. There is a maximum dollar limit on any payment or transfer equal to the available balance in your
deposit account plus the available balance in any overdraft protection account.
There is no monthly service charge for accessing your linked accounts, or for paying bills with Cardinal
Online Banking or Cardinal Online Business Banking. Depending on how you access Online banking, you
might incur charges for:
- Typical account fees and service charges
- Any Internet service provider fees
- Any wireless service provider fees
- Purchase of computer programs or software
For a link to our Fee Schedule go to http://www.cardinalbank.com/FeeSchedule.asp.
Under Federal Reserve Board Regulation D, depositors are permitted to make no more than six transfers or
withdrawals from a savings or money market account per month (not counting transactions made at ATMs
or at branches). Transfers made by telephone, personal computer, or funds transferred for overdraft
protection are counted toward the six total permitted monthly transfers or withdrawals. If your transactions
exceed the legal limit, we will charge you a fee for each such transaction in excess of the legal limit. If you
exceed the restrictions more than three times during a 12 month period, we will close the savings or money
market account and transfer the funds to a checking account. On Cardinal savings or money market savings
accounts, we charge a fee for each withdrawal or transfer in excess of three per monthly cycle period.
Tell us at once if you believe your password has been lost or stolen. Telephoning is the best way of keeping
your possible losses down. You could lose all the money in your account (plus your maximum overdraft line
of credit). If you tell us within two (2) business days, you can lose no more than $50.00 if someone used
your user ID and password without your permission. If you do NOT tell us within two (2) business days after
you learn of the loss or theft of your code, and we can prove that we could have stopped someone from
using your account without your permission if you had told us, you could lose all of the money in your
account (plus your maximum overdraft line of credit). Also, if your statement shows transfers that you did not
make, tell us at once. If you do not tell us within sixty (60) days after the statement was mailed to you, you
may not get back any money lost after the sixty (60) days if we can prove that we could have stopped
someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital
stay) kept you from telling us, we will extend the time periods. If you believe that your user ID or password
has been lost or stolen or that someone has transferred or may transfer money from your account without
your permission, call (800) 473-3247, or write us at Cardinal Bank 8270 Greensboro Drive, #500, McLean,
VA 22102. When you give someone your user ID and password, you are authorizing that person to use your
service, and you are responsible for all transactions that person performs while using your service.
Transactions that you or someone acting with you initiates with fraudulent intent are also authorized
transactions.
For your protection, sign off after every Online Banking session and close your browser to ensure
confidentiality.
If we do not complete a transfer to or from your account on time or in the correct amount according to our
agreement with you, we will be liable for your losses or damages directly related to the transaction.
However, there are some exceptions. We will NOT be liable for instance:
- If, through no fault of ours, you do not have enough money in your account to make the
transfer
- If the money in your account is subject to legal process or other claim restricting such transfer
- If the transfer would go over the credit limit on your overdraft line
- If the terminal or system was not working properly and you knew about the breakdown when
you started the transfer
- If circumstances beyond our control (such as fire or flood) prevent the transaction, despite
reasonable precautions that we have taken
- There may be other exceptions not stated in our agreement with you
Telephone us at (800) 473-3247, or write us at 8270 Greensboro Drive, #500, McLean, VA 22102 as soon
as you can if you think your statement is wrong or if you need more information about a transfer listed on the
statement. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which
the problem or error appeared.
- Tell us your name and account number (if any).
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why
you believe it is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within ten (10)
business days.
We will tell you the results of our investigation within 10 business days after we hear from you and we will
correct any error promptly. If we need more time, however, we may take up to forty five (45) days to
investigate your complaint or question. If we decide to do this, we will recredit your account within ten (10)
business days for the amount you think is in error we have made, so that you will have the use of the money
during the time it takes us to complete our investigation. If we ask you to put your complaint or question in
writing and we do not receive it within ten (10) business days, we may not recredit your account.
If we decide that there was no error, we will send you a written explanation of our findings within three (3)
business days after we finish our investigation. At the same time, we will debit your account for any funds
temporarily advanced to you. We can provide copies of the documents that we used in our investigation
upon request.
For purposes of these electronic funds transfer disclosures, our business days are Monday through Friday
excluding holidays.
You will get a monthly account statement from us which details your account activity including Online
banking transactions.
We may disclose information to third parties about your account or the transfers you make:
- To complete transactions or bill payments as necessary
- To verify the existence and condition of your account upon the written request of a third party,
such as a credit bureau or merchant
- To comply with government agency or court orders; or in connection with fraud prevention or
an investigation
- If you give us your written permission
For a link to our Privacy Policy for consumers go to http://www.cardinalbank.com/PrivacyPolicy.asp
These codes are issued to you for your security purposes. They are confidential and should not be disclosed
to third parties. You are responsible for safekeeping your user ID and password. You agree not to disclose
or otherwise make these codes available to anyone not authorized to sign on your accounts. You must
immediately notify us and select a new password if you believe your password may have become known to
an unauthorized person.
We offer a feature that allows you to set up a notification service for certain events that relate to your linked
accounts. When you activate the notification service, you will be able to set up email messages to update
you on balance and check clearing information as well as certificate of deposit maturity dates.
When you activate a notification, you agree to the following:
- Online Banking Notifications allow you to sign up to receive automated alert messages for your
Online banking accounts
- Each notification message has different options available, and you will be asked to select from these
options upon activation of your notifications service
- Electronic notifications will be sent to the email address you have provided as your primary email
address for Online Banking. If you change your email address you are responsible for informing us
of the change
- You understand and agree that your notifications may be delayed or prevented by a variety of factors.
We neither guarantee the delivery nor the accuracy of the contents of any notification. You also agree
that we shall not be liable for any delays, failure to deliver, or misdirected delivery of any notification;
or for any actions taken or not taken by you or any third party in reliance of an alert
Email or Secure Notifications to the Bank may be delayed; therefore, if you need us to receive information
concerning your account immediately, you must contact us in person or by telephone (for requests such as,
stop payments, to report a lost or stolen card or to report unauthorized use of your account). We shall have
a reasonable period of time after receipt to act on requests or information you send by email.
No Cardinal Bank employee, nor any company affiliated with Cardinal Bank Online Banking will contact you
via email or phone requesting your Online User ID or Password. If you are contacted by anyone requesting
this information, please contact us immediately.
All notices from us will be effective when we have mailed them or delivered them to your last known address
on our records. Notices from you will be effective when received by us at the address specified in this
agreement. We reserve the right to change the terms and conditions upon which this Service is offered. We
will mail notices to you at least thirty (30) days before the effective date of any change, as required by law.
Use of this Service is subject to existing regulations governing your account and any future changes to those
regulations.
In the event either party brings a legal action to enforce this agreement or collect amounts owing as a result
of any account transaction, the prevailing party shall be entitled to reasonable attorneys' fees and costs,
including fees on any appeal, subject to any limits under applicable law.
You agree that we may terminate this agreement and your use of the Service, if
- You do not pay any fee required in this agreement
- You do not comply with the agreement governing your deposit accounts or your deposit account is
not maintained in good standing
- You breach this or any other agreement with us
- We have reason to believe that there has been an unauthorized use of your user ID or password; or
other security feature
- We notify you or any other party to your account that we have cancelled or will cancel this
agreement. You or any other party to your account can terminate this agreement by notifying us in
writing
Termination of this Agreement will not affect the rights and responsibilities of the parties under this
agreement for transactions initiated before termination.
If you do not log on or have outstanding scheduled bill payments or transfers through Online Banking
service or Online Bill Pay for 180 days, we may cancel your Service without further notice.
There may be a delay between the time a deposit is made and when it will be available for withdrawal. You
should review our Funds Availability Policy to determine the availability of the funds deposited. We reserve
the right to refuse any transaction which would draw upon insufficient funds, exceed a credit limit, lower an
account below a required balance, or otherwise require us to increase our required reserve on the account.
Matters not covered by this disclosure shall continue to be governed by the Uniform Commercial Code as
adopted in Virginia and by any applicable federal law as well as applicable account agreements between us
pertaining to the linked accounts.
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