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Electronic Funds Transfer Agreement and Disclosure

Updated August 2015

Cardinal Bank
8270 Greensboro Drive, Suite 500
McLean, VA 22102
Phone 1.800.473.3247

This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving an account at Cardinal Bank. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfers. In this Agreement, 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. The abbreviation "PIN" or word "code" means a personal identification number.

Cardinal Visa CheckCard and Cardinal MoneyCard

You may use this card at any Cardinal Bank ATM and at any ATM worldwide that participates in the networks identified on your card.

Types of Transfers:

Unless you specify a different account during Automated Teller Machine (ATM) transactions, your Primary Account will be used for your transactions. You may use the card and personal identification number (PIN) issued to you to initiate transactions at ATMs of ours, ATMs within the networks identified on your card and such other facilities as we may designate from time to time. You may also use the card issued to you for purchases from merchants who have agreed to accept the card at Point of Sales (POS) terminals within the networks identified on your card and such other terminals as the bank may designate from time to time.  Point of Sales (POS) transactions will be deducted from your Primary Account.  Point of Sales (POS) transactions involving a refund will be credited to your Primary Account.  At present you may use your card to:

  • Make deposits to your checking or savings account.
  • Withdraw cash from your checking or savings account.
  • Transfer funds between your checking and savings accounts whenever you request.
  • Obtain balance information on your deposit accounts.
  • Pay for purchases at places that have agreed to accept the card.
  • Pay bills directly from your checking or savings account in the amounts and on the days you request.

Some of these services may not be available at all ATMs.

Limitations on Frequency and Amount:

Cardinal Visa CheckCard

  • You may withdraw up to a maximum of $510 (if there are sufficient funds in your account) per day.
  • You may purchase up to a maximum of $1000 worth of goods and services per day, exclusive of ATM withdrawals. These purchases are not included in your $510 daily withdrawal limit.
  • For security reasons, there are limits on the number of transfers and the frequency and amount of transfers you may make at ATMs.
  • If the system is operating offline the maximum allowable withdrawal may be reduced.
  • You are not allowed to make deposits at a non Cardinal Bank ATM. You may, however make transfers between Cardinal Bank accounts at any participating machine.

Cardinal MoneyCard

  • You may withdraw up to a maximum of $310 (if there are sufficient funds in your account) per day.
  • You may buy up to a maximum of $500 worth of goods or services per day, exclusive of ATM withdrawals. These purchases are not included in your $310 daily withdrawal limit.
  • For security reasons, there are limits on the number of transfers and the frequency and amount of transfers you may make at ATMs.
  • If the system is operating offline the maximum allowable withdrawal may be reduced.
  • You are not allowed to make deposits at a non Cardinal Bank ATM. You may, however make transfers between Cardinal Bank accounts at any participating machine.

Fees and Charges for ATM Transactions:

  • There is no charge for ATM deposits or withdrawals at machines owned by us.
  • You may be charged a fee for the use of ATMs at other financial institutions.
  • Applicable fees and charges are outlined on the Cardinal Bank Fee Schedule.

ATM Surcharges. When you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used to complete the transaction and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer.

Foreign Transactions.  If a Holder’s card is used to effect a transaction in a foreign currency, the transaction amount will be converted to U.S. dollars by VISA International. Please note that Foreign Transactions include U.S. internet transactions made in the U.S. but with a foreign merchant. VISA converts currency to U.S. dollars using either the government mandated exchange rate or the wholesale exchange rate, in effect one day before the date of the conversion, as applicable. The exchange rate is increased by 1% if the conversion is made in connection with a charge to an account and decreased by 1% if the conversion is made in connection with a credit to an account. The date of conversion by VISA may differ from the purchase date and the posting date identified in the monthly statement for the account. Holder agrees to pay charges and accept credits for the converted transaction amounts in accordance with the terms of this paragraph. Cardinal Bank may assess a charge for foreign transactions.

 

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Telephone Banking

Enjoy the convenience of doing your banking 24 hours a day on the telephone. You may use Cardinal Bank's 24 Hour Telephone Banking to check your account balances, transfer funds between accounts, and many other transactions.

Types of Telephone Banking Services: You may access your deposit accounts by using a separate personal identification number (PIN) assigned to you and your account number in our Telephone Banking System. At the present time you may use the system to:

  • Transfer funds between your deposit accounts.
  • Obtain balance information on your deposit accounts.
  • Verify the last date and amount of your payroll deposit.
  • Determine if a particular check has cleared your account.

Limitations on Frequency and Amount:

  • There are no limits on the number or dollar amount of inquiries, transfers or withdrawals you may make per day.

Fees and Charges for Audio Response Transactions:

  • Applicable fees and charges are outlined on the Cardinal Bank Fee Schedule.

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Direct Deposit

Enjoy the peace of mind of having your Paycheck deposited automatically into your account.

Types of Preauthorized Transfers: You may arrange for us to complete the following preauthorized transfers to your deposit accounts:

  • Accept direct deposits from your employer or other financial institutions to your checking or savings account.
  • Accept other preauthorized transfers or deposits to your checking or savings account.

Limitations on Frequency and Amount:

  • There are no limitations to the number of direct deposits made to your account.

Fees and Charges:

  • Applicable fees and charges are outlined on the Cardinal Bank Fee Schedule.

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Preauthorized Debit

Enjoy the peace of mind of having your mortgage loan, auto loan or other automatic payment made from your account for you.

Types of Preauthorized Transfers: You may arrange for us to pay certain recurring bills from your checking or savings account.

You may arrange for us to complete pre-authorized transfers to your checking account from a secondary checking account, money market savings account or savings account in case of an overdraft. The minimum transfer amount is $100.00. Transfers are made in increments of $100.00. Savings accounts are subject to withdrawal limitations as explained in the Cardinal Bank Deposit Agreement. Applicable fees and charges are outlined in the Cardinal Bank Fee Schedule.

External Funds Transfer and Popmoney

External Funds Transfers give you the ability to transfer funds between accounts you own at Cardinal Bank and other banks.  This is also known as “Account to Account” transfers.  You may also transfer funds to other people at Cardinal Bank and other banks.  This is also known as “Pay Other People” or “PopMoney.”  You may transfer funds from any eligible account at almost any financial institution to any other eligible account held by you or another person at Cardinal Bank or another financial institution assuming that the transfer is permitted by Cardinal Bank and by law.You may schedule one-time, recurring or future-dated transfers through the Move Money function in Cardinal Online Banking.

Limitations on Frequency and Amount:

  • Federal Regulations and our account agreement limit the number of preauthorized withdrawals and/or transfers that may be made from a savings account to six each monthly cycle or similar period of at least four weeks. Limited transactions include transfers or withdrawals that are preauthorized or automatic, by draft or debit card or similar order (including point of sales transactions), by computer (including online banking or bill payment transactions), by telephone (including facsimile or data transmission), overdraft protection, ACH, or wire transfer. If the account permits transfers by check or debit card, no more than three of the six limited transfers may be made by check or point of sale.

Fees and Charges:

  • Applicable fees and charges are outlined on the Cardinal Bank Fee Schedule.

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Notice About Electronic Check Conversion

When you provide a check as payment, you authorize us either to use information from your check to make a one-time electric fund transfer from your account or to process the payment as a check transaction. When we use information from your check to make an electronic fund transfer, funds may be withdrawn from your account as soon as the same day you make your payment, and you may not receive your check back from your financial institution.

The following limitations may be applicable to your accounts, except as provided by law:

Liability for Unauthorized Visa® Point of Sale Debit Card Transactions. Tell us, AT ONCE, if you believe your Visa® point of sale debit card has been lost or stolen or of any unauthorized transactions.  With Visa's Zero Liability policy, you have no liability for unauthorized transactions, whether made online, in store, via mail or telephone orders. Visa’s Zero Liability Policy covers U.S.-issued cards only for purchases and U.S. ATM transactions.  It does not apply to certain commercial cards or PIN transactions not processed by Visa. You must notify Cardinal Bank immediately of any unauthorized use. If there is suspicious activity on your account, please contact us immediately at 703.584.3400 or 800.473.3247.  We may require you to provide a written statement regarding claims of unauthorized Visa® point of sale debit card transactions. With respect to unauthorized transactions, these limits may be exceeded to the extent allowed under applicable law (see Liability for Unauthorized Transfers paragraph below) only if we determine that you were grossly negligent or fraudulent in the handling of your account or point of sale debit card. The same consumer liability limits shall apply to Interlink Transactions. To notify us of lost or stolen cards, or of unauthorized transactions, call or write to us at the telephone number or address set forth below. This will help prevent unauthorized access to your account and minimize any inconvenience. Visa® is a registered trademark of Visa® International.

In addition to the limitations set forth above, the following limitations may be applicable to your accounts:

Liability for Unauthorized Transfers. Tell us AT ONCE if you believe your ATM card or PIN, Visa CheckCard or PIN, Online Banking and Move Money ID or PIN or Telephone Banking PIN has been lost or stolen or if you believe that an electronic funds transfer has been made without your permission using information from your check. 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 after you learn of the loss or theft of your card or PIN, you can lose no more than $50.00 if someone used your card or code without your permission. If you do NOT tell us within two (2) business days after you learn of the loss or theft of your card or code, and we can prove that we could have stopped someone from using your card or code without your permission if you had told us, you could lose as much as $500.00. Also, if your statement shows transfers that you did not make, including those made by card, code or other means, 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.

Contact in event of unauthorized transfer. If you believe that your card or code has been lost or stolen or that someone has transferred or may transfer money from your account without your permission, call (703) 584-3400, or write to us at Cardinal Bank, 8270 Greensboro Drive, Suite 500, McLean, VA 22102.

Business Days. For purposes of these electronic funds transfer disclosures, our business days are Monday through Friday. Holidays are not included.

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Documentation

Periodic Statement. You will get a monthly account statement from us, unless there are no transactions in a particular month. In any case you will get a statement at least quarterly. You will get a quarterly statement from us on your savings account if this is the only account you maintain and the only possible electronic transfer to or from the account is a preauthorized deposit.

Terminal Receipt. You may get a receipt at the time you make any transfer to or from your account using one of our ATMs or purchase at a POS terminal. Federal law generally requires a receipt to be given for these transactions. However, the law provides an exception for transactions of $15 or less. For transactions over $15, federal law continues to require that a receipt be made available.

Direct Deposits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person or company, you can call us at (703) 584-3400 to find out whether or not the deposit has been made.

Our Liability for Failure to Make Transfers. 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. 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 ATM where you are making the transfer does not have enough cash.
  • 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 transfer, despite reasonable precautions that we have taken.
  • There may be other exceptions stated in our agreement with you.

In Case of Errors or Questions About Your Electronic Transfers. Telephone us at (703) 584-3400, or write us at 8270 Greensboro Drive, #500, McLean, VA 22102 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. 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 determine whether an error occurred within ten (10) business days after we hear from you and 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 credit your account within ten (10) business days for the amount you think is in error, 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 credit your account.

For errors involving new accounts, point of sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three (3) business days after completing our investigation, if we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. If a notice of error involves an electronic fund transfer that occurred within thirty (30) days after the first deposit to the account was made, the applicable time periods for the action shall be twenty (20) business days in place of ten (10) business days. If a notice of error involves an electronic fund transfer that was initiated in a foreign country, occurred within thirty (30) days after the first deposit to the account was made, or is a point of sale debit card transaction, the applicable time period for action shall be ninety (90) calendar days in place of forty five (45) calendar days. If a notice of error involves unauthorized use of your point of sale debit card with the Visa logo when it is used as a Visa point of sale debit card, we will provide provisional credit within five (5) business days after you notify us instead of within ten (10) or twenty (20) business days. We may withhold providing this accelerated provisional credit, to the extent allowed under applicable law, if the circumstances or account history warrants the delay.

Confidentiality. We will disclose information to third parties about your account or the transfers you make:

  • Where it is necessary for completing transfers or
  • In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant; or
  • In order to comply with government agency or court orders; or
  • If you give us your written permission.

Personal Identification Number (PIN). The ATM PIN, Visa CheckCard PIN or Telephone Banking PIN issued to you is for your security purposes. The numbers are confidential and should not be disclosed to third parties or recorded on the card. You are responsible for safekeeping your PIN(s). You agree not to disclose or otherwise make your ATM PIN, Visa CheckCard PIN or Telephone Banking PIN available to anyone not authorized to sign on your accounts.

Notices. 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 telephone number or 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 notice to you at least twenty one (21) 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.

Enforcement. 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.

Termination of ATM, Visa CheckCard and Telephone Banking Services. You agree that we may terminate this Agreement and your use of the ATM Card, Visa CheckCard or Telephone Banking services, if:

  • You or any authorized user of your ATM card or PIN, Visa CheckCard or PIN or Telephone Banking PIN breach this or any other agreement with us;
  • We have reason to believe that there has been an unauthorized use of your ATM card or PIN, Visa CheckCard or PIN or Telephone Banking PIN;
  • 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 service will be effective the first business day following receipt of your written notice. Termination of this Agreement will not affect the rights and responsibilities of the parties under this Agreement for transactions initiated before termination.

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Preauthorized Electronic Fund Transfers

Stop Payment Rights. If you have told us in advance to make regular payments out of your account(s), you can stop any of these payments. Here's how: Call us at (703) 584-3400, or write to us at Cardinal Bank, 8270 Greensboro Drive, #500, McLean, VA 22102, in time for us to receive your request three (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 fourteen (14) days after you call. We will charge you for each stop payment order you give. Please see the Cardinal Bank Fee Schedule for information on Stop Payment fees.

Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop one of these payments three (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.

Other Provisions. 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 at ATMs. 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.

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ATM Safety Tips

As issuers of Automated Teller Machine (ATM) access devices, we have provided for your information a list of safety precautions regarding the use of automated teller machines. Please read the following safety tips:

  • Be aware of your surroundings and exercise caution when withdrawing funds, particularly at night.
  • Consider having someone accompany you when the automated teller machine is used after dark.
  • It is appropriate to politely ask someone who is uncomfortably close to you to step back before you complete your transaction.
  • Ensure no one sees you enter your PIN
  • Refrain from displaying your cash. Put it away as soon as your transaction is completed. Count the cash later in the safety of your car or home.
  • Consider using another automated teller machine or coming back later if you notice anything suspicious. If you are in the middle of a transaction and you notice something suspicious, cancel the transaction, pocket your ATM card and leave.
  • Go to the nearest public area where people are located if you are followed after making a transaction.
  • Report all crimes to law enforcement officials immediately.

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