This document describes 360 Checking® and Overdraft Protection services. When you see the words "you" and "your" they mean each person who owns an account or each trustee who is legally entitled to manage an account. The words "the Bank," "our," "us," "we" and "Capital One 360®" mean Capital One, N.A. “Overdraft Protection” means your linked overdraft line of credit or linked free savings transfer.
TRUTH IN SAVINGS DISCLOSURES
Initial Deposit Requirement – There is none - you can open the account with any amount you wish.
Rate Information – The interest rate that your account will earn depends on the balance in the account each day. If your daily balance is less than the interest rate paid on your entire account balance will be with an annual percentage yield of If your daily balance is between and the interest rate paid on your entire account balance will be with an annual percentage yield of If your daily balance is between and the interest rate paid on your entire account balance will be with an annual percentage yield of If your daily balance is between and the interest rate paid on your entire account balance will be with an annual percentage yield of If your daily balance is or more, the interest rate paid on your entire account balance will be with an annual percentage yield of These interest rates and annual percentage yields may change. At our discretion we may change the interest rate for any particular balance at any time.
Compounding and Crediting – Interest on your account will be compounded and credited on a monthly basis.
Balance Computation Method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Deposits – For all types of non-cash deposits, interest will begin to accrue no later than the next business day following the banking day on which the funds were deposited. For cash deposits, interest will begin to accrue the same day on which the funds were deposited.
Transaction Limitations – Any one "Bill Pay," "Mail a Check" or "Overnight a Cashier's Check" transaction cannot exceed $100,000.00. Total Card purchases (including cash back amounts) made using your PIN are limited to $5,000 per day. Total Card purchases and cash advances where you don't use your PIN are limited to $5,000 per day. This does not include withdrawals from an ATM. Withdrawals from an ATM made using a 360 Checking Card are limited to $1,000 per day. You can lower this limit by calling us at 1-888-464-0727. "Person2Person Payment" (person-to-person transfers) transactions are limited to $5,000 per day. Wire transfers, if we offer you this service, are limited to $25,000 per day. We may also limit the number of wire transactions that can be completed each day.
Fees – If, at your request, we generate an overnight check as described in the 360 Checking Agreement (see "Overnight a Check" section), we will charge you $20.00. If, at your request, we place a stop payment on a check you wrote or that was created on your behalf through Bill Pay or Mail a Check we will charge you $25.00. If, at your request, we expedite sending you a 360 Checking Card, we will charge you $25.00. If we agree to transact a wire transfer for you, we will charge you up to $40.00. If you write a check in an amount that exceeds your Available Balance plus any available Overdraft Protection amount at the time the check is presented to us for payment, we'll reject the check and impose an insufficient funds charge in the amount of $9.00.
Effect of Closing an Account – If you close your account before interest is credited, you will receive any accrued interest.
360 CHECKING AGREEMENT
THE BASICS - 360 Checking is an electronic checking account that pays you interest. 360 Checking enables you to pay any person or company you want, as long as the person or company is located in the United States (not including U.S. territories) - you'll just pay them by visiting our website and clicking a few buttons. And all the while, the money in your 360 Checking doesn't just sit there - it earns interest! The 360 Checking Agreement includes our Electronic Fund Transfer Disclosure Statement ("EFT Disclosure") (collectively, the "360 Checking Agreement"). You need to read this agreement and hold onto it in case you have any questions down the road. Please understand that by applying for 360 Checking and/or using our 360 Checking features, you're agreeing to be bound by the terms of the 360 Checking Agreement, in addition to any other agreements you have entered into with us. Also, you're requesting that we automatically issue a 360 Checking Debit Card (the "Card") to you.
ELIGIBLE CUSTOMERS - 360 Checking is available to United States citizens or lawful permanent residents with a U.S. physical address who are at least 18 years old with a valid Social Security number. Individual Taxpayer Identification Numbers (ITINs) are not acceptable.
You must also be a paperless Customer - that means that (i) you must keep us supplied with your valid email address; and (ii) you must agree to accept electronic delivery of all communications (like end-of-year tax forms and electronic statements) that we need or decide to send you.
ACCOUNT TYPE/ACCOUNT OPENING - 360 Checking is a transactional account that pays a variable rate of interest and allows you to make certain payments and transfers to third parties. You'll also be able to transfer funds from your Capital One, N.A. account to any other Capital One, N.A. account you have (except existing Certificates of Deposit).
If you already have an account with us at the time you open your 360 Checking account, your existing Linked Account(s) will also be linked to your 360 Checking account. We reserve the right to verify that you are the owner of the Linked Account. In addition, if you are opening an account in the name of an existing living trust, you will be required to complete our trust certification form.
Your 360 Checking account won't be considered "opened" until it’s funded. This means your balance must be at least a penny. If you have Overdraft Line of Credit, keep in mind that until your Checking account is funded, you won’t be able to use your Overdraft Line of Credit from your 360 Checking.
CONSUMER REPORTS - You agree that the Bank can gather your personal info from one or more consumer reporting agencies. You also agree that the Bank has the right to access follow-up consumer reports while your 360 Checking account and/or Overdraft Line of Credit is open for maintenance, review, or collection purposes.
REPORTING INFORMATION TO CONSUMER REPORTING AGENCIES AND CHECK VERIFICATIONS SYSTEMS - We may report information about your account to consumer reporting agencies and/or check verification systems. Defaults on your account may be reflected in your credit report. This could affect your ability to open accounts in the future. In the event we report your account to a check verification system, you acknowledge that even if you pay us all amounts owed, we are not required to remove an accurate report of account mishandling from any such check verification system.
TITLING - 360 Checking can be titled in one of three ways:
- Individually. An individual 360 Checking is owned by one person only, and only that person can transfer or take money out of 360 Checking or use the Overdraft Line of Credit.
- Jointly. A joint 360 Checking is owned by two people and all deposits made into the account are owned by both people. Except for certain retirement benefits like Social Security, if one person dies, the money in the account then belongs only to the survivor (and not to the estate of the deceased person). If a husband and wife own the 360 Checking, the legal term for how they own it is "tenants by the entireties"; otherwise, the owners of the account are called "joint tenants". Either owner of a 360 Checking may: 1) tell us to pay a person or company; 2) withdraw or transfer the balance without the other owner's consent; 3) make deposits, close or pledge the account to us as collateral for a debt owed to us; 4) endorse and deposit checks payable to any joint owner; or 5) borrow money from us using the Overdraft Line of Credit. Each of you can enter a stop payment order on any payments or other orders of withdrawal authorized by either of you. Your obligations under this 360 Checking Agreement are joint and several.
- Living Trust. A living trust 360 Checking is owned by a living trust and is managed by no more than 2 trustees, at least 1 of which must be a grantor-trustee. If the account is managed by 2 trustees ("Co-Trustees"), either Co-Trustee may: 1) tell us to pay a person or company; 2) withdraw or transfer the balance without the other Co-Trustee's consent; 3) make deposits, close or pledge the account to us as collateral for a debt owed to us; 4) endorse and deposit checks payable to either Co-Trustee or the living trust; or 5) borrow money from us using the Overdraft Line of Credit. Each Co-Trustee can enter a stop payment order on any payments or other orders of withdrawal authorized by either Co-Trustee. Each Co-Trustee understands and agrees that (s)he, and not Capital One 360, owes a fiduciary responsibility to the living trust and as such, shall manage the account in accordance with the terms of the 360 Checking and Overdraft Line of Credit Agreements, the trust document(s) and any applicable laws. The obligations of Co-Trustees under this agreement are joint and several.
CONNECTING ACCOUNTS - If you have more than one eligible Capital One account, we will automatically "connect" your eligible accounts so they appear when you're logged into your account through the website or mobile app. Any accounts for which you are an owner or manager (Living Trust) will appear in your online banking profile.
We will display only summary information about your "connected" accounts. To get any other information or conduct any activity on these account types, you must access the specific account servicing area for that account. All connected bank accounts will be visible when you log into your account through the website or mobile app. Keep in mind that certain features, information, types of transactions or other services may not be available for all of your connected accounts. As long as you maintain your unique log in credentials, you will have access to view all of your individual accounts and shared accounts and people with whom you share accounts will only be able to view accounts that are shared with you, not your individual accounts.
DEPOSITS - You can make deposits into 360 Checking by: 1) Direct Deposit - instructing your employer, the federal or state government or any other party that makes periodic payments to you to deposit your wages or other payments directly into your 360 Checking; 2) Transfer Money - using our website or calling us to electronically transfer funds from another eligible Capital One, N.A. account or a Linked Account; 3) mailing us a check; 4) uploading an image of your check using Mobile Deposit, 5) depositing cash or a check using a Capital One ATM that accepts Capital One 360 deposits, or 6) if we permit it, initiating a wire transfer to your 360 Checking. You must make sure that (i) your deposit reaches us; and (ii) you tell us into which account the deposit is going. If you don't do both of these things, you'll be responsible for any loss that results. Any transaction that you conduct on Saturday, Sunday, a Federal holiday, or other days on which we are closed will be handled the following business day.
We may limit, refuse or return all or any part of a deposit without prior notice to you. Also, we reserve the right to return any deposit to you that causes the combined balance of all of your accounts with us (including any jointly owned, or in the case of an account owned by a living trust, jointly managed accounts) to exceed $5,000,000. We may return checks or cash that we receive for deposit into your 360 Checking if we decide not to accept them. If a check or other deposit is returned to us unpaid or is otherwise charged back to us, we will deduct the amount of the check/deposit from your account. If the check was deposited into multiple accounts and is returned unpaid, we'll debit your account with the largest amount deposited. For equal deposit amounts, we'll debit the account that first received a deposit. If any of the funds was deposited to your 360 Checking account, we'll always debit that account for the full amount. If you have Overdraft Protection, this may result in a transer/Advance (see the Overdraft Line of Credit Agreement for the definition of an "Advance"). Once your account is officially "open," funds will be available according to our 360 Checking funds availability schedule. Deposits made to your 360 Checking will be applied as follows:
360 Checking WITH OVERDRAFT LINE OF CREDIT
First: to any billed but unpaid interest on the Overdraft Line of Credit you may have; Second: to any outstanding principal balance on your Overdraft Line of Credit; and Third: to your 360 Checking Account.
WITHDRAWALS AND TRANSFERS - Generally, you can withdraw or transfer money from your 360 Checking by 1) using our website; 2) using the Card we give you to make withdrawals at ATMs and points of sale ("POS"); 3) using Checkbooks; 4) Send a Check or 5) calling us. We may limit, refuse or return any withdrawal or transfer of funds from your 360 Checking that is made in a manner not permitted by us. External transfers using the Transfer Money feature will take 2-3 business days to transfer. If you want more detailed information regarding electronic transfer times see the Electronic Fund Transfer Disclosure Statement. You may use the Mail a Check, Overnight a Check, or Checkbooks Features described below.
FOR YOUR PROTECTION - We reserve the right to contact you to obtain confirmation of any instruction before processing it. However, we're not required to confirm any instruction that looks like it was made by you, and we won't be liable if we don't contact you. We're also not required to confirm the actual identity or authority of anyone who uses your Password or a personal identification number ("PIN") or any account access device we gave you (like the Card)(collectively, "E-Identification").
STATEMENTS - As required by law, we'll provide you with an electronic statement ("Statement") at least 4 times a year. Your Statement will be made available to you via www.capitalone360.com. Payments or transfers you make will be listed on your Statement. You agree to notify us promptly if you think there's an error or unauthorized transaction shown on your Statement.
WE'RE SERIOUS ABOUT SECURITY - To protect your privacy and money, all Capital One 360 Customers either receive or select E-Identification when they open an account with us. If 360 Checking is your first account at Capital One 360, you'll either receive or select E-Identification once your account is officially open. If you already have an account with us, you must use your existing E-Identification to access 360 Checking (and your Overdraft Line of Credit). You agree to keep your E-Identification secret and safe to prevent unauthorized use - this includes not leaving your computer terminal unattended after you've signed-in to your account. If you give your E-Identification to anyone, like a Co-Trustee, or if you handle your E-Identification in a way that makes it easier for someone to use it without your permission, you may be responsible for any loss that stems from that disclosure or handling. Tell us immediately if any of your E-Identification has been lost or stolen. Please refer to the EFT Disclosure below for your rights and responsibilities in this situation. We may cancel your E-Identification and restrict your ability to access 360 Checking and your Overdraft Line of Credit at any time, without advance notice.
360 Checking FEATURES
Now, here's the REALLY interesting stuff...
You can use 360 Checking to instruct us to (i) pay bills; and (ii) mail or overnight a check on your behalf to any person or business in the U.S. except U.S. territories ("Payee"). You can also make a "Person2Person Payment" to any person who gives you her/his email address and (i) bank account number, bank name and routing number for her/his account with a U.S. bank; or (ii) Capital One 360 account number. You authorize us to follow your payment instructions and we reserve the right, at our sole discretion and without notice, to refuse to pay a bill, mail or overnight a "check", make a "Person2Person Payment" or otherwise transfer money to any Payee for security, credit, legal/regulatory or other reasons, and to refuse to honor payment or transfer requests that appear to be fraudulent or erroneous.
Bill Pay Feature
You can use 360 Checking's Bill Pay Feature ("Bill Pay") to pay bills as explained in this section of the 360 Checking Agreement. You can make current, future, one-time, and recurring bill payments to a person or entity ("Biller"). You may also receive electronic bills from a Biller to help you keep organized and cut down on your mail. You use Bill Pay by providing information ("Payment Instruction") to us for a bill payment to be made to a Biller (for example, the Biller's name, account number, and Debit Date). Keep in mind, all bill payments and any Bill Pay charges will be automatically debited from your 360 Checking.
Please remember that you can only make payments to Billers with mailing addresses in one of the 50 United States or with military addresses (APO or FPO). We reserve the right to refuse to pay any Biller. Don't worry though, we'll notify you promptly if we decide to refuse to pay a Biller. This notification is not required if you attempt to make a prohibited payment or an exception payment. Please understand that Billers and/or the US Postal Service may return payments to us for various reasons such as expired addresses, invalid account numbers, the inability of the Biller to locate your account; or your account being paid in full. We promise to use our best efforts to research and correct the returned payment and return it to your Biller, or void the payment and credit your 360 Checking.
PAYMENT SCHEDULING. We'll start processing a payment that you schedule through Bill Pay ("Scheduled Payment") and take the payment amount out of your 360 Checking on the date that you select ("Debit Date"). The earliest possible Pay Date that your Biller will receive the payment ("Pay Date") is typically 4 or fewer business days after the Debit Date. Our business days include every day other than Saturday, Sunday or one of the Federal Holidays, or other days we are closed ("business day"). The Pay Date will be displayed when you are scheduling the payment. It is critical that you select a Debit Date with a Pay Date no later than the due date required by your Biller for the payment ("Due Date"). If you give us Payment Instructions on a non-business day, the earliest Debit Date you can select will be the next business day. If you select a Debit Date that falls on a non-business day, the Debit Date will be the prior business day. If you close your 360 Checking, any payments already processed through Bill Pay before the date your 360 Checking is closed will be completed. All Scheduled Payments, including recurring payments, will not be processed once your 360 Checking is closed.
BILL PAY GUARANTEE. We can't control everything - there are circumstances beyond our control like delays in handling and posting payments by Billers or other financial institutions. This means that some transactions may take longer to be credited to your account. Don't worry though - as long as you scheduled your payment with a Pay Date no later than the Due Date for the payment, we'll cover up to $100.00 of any late charges you may incur on the payment.
PAYMENT AUTHORIZATION AND PAYMENT REMITTANCE. When you give us the names and account information for your Billers, you authorize us to follow your Payment Instructions. In order to process payments more efficiently and effectively, we may edit or alter payment data or formats as required by your Biller.
When you give us a Payment Instruction, you authorize us to debit your 360 Checking and send funds on your behalf to your Biller so that the funds arrive as soon as reasonably possible after the Debit Date. You also authorize us to credit your 360 Checking for payments returned to us by the US Postal Service or Biller.
Rest assured, we'll use our best efforts to make all your payments properly. However, we won't be liable and the Bill Pay Guarantee will be void if we're unable to complete any of your payments because of any of the following circumstances:
- Through no fault of ours, there are not available sufficient funds in your 360 Checking plus any available Overdraft Protection amount;
- Bill Pay is not working properly and you know or we've told you about the problem before you try to give us Payment Instructions;
- You haven't given us the correct name, address, phone number, or account number for the Biller; and/or,
- Circumstances beyond our control (like a fire, flood, or other disaster) prevent the proper execution of the transaction and we have taken reasonable precautions to avoid those circumstances.
PAYMENT METHODS. In order to provide the best service, we'll select the way we send payments to your Biller (either by check or electronic payment).
PAYMENT CANCELLATION REQUESTS. You can cancel or edit any Scheduled Payment (including recurring payments) free of charge by following the directions on the website. Once we've begun processing a payment, though, it can't be cancelled or edited and you'll have to make a stop payment request.
EXCEPTION PAYMENTS. Tax payments and court ordered payments ("Exception Payments") can be scheduled through Bill Pay but we discourage this. Exception Payments are scheduled at your own risk. In no event will we be liable for any claims or damages that result from the scheduling of Exception Payments. The Bill Pay Guarantee as it applies to any late payment charges is void when Exception Payments are scheduled and/or processed through Bill Pay. We have no obligation to research or resolve any claim resulting from an Exception Payment. All research and resolution for any misapplied, mis-posted or misdirected Exception Payments will be your responsibility.
BILL DELIVERY AND PRESENTMENT (eBills). This feature allows your Billers to send you bills electronically. Use of electronic bill delivery doesn't alter the liability or obligations that currently exist between you and your Billers. It's your sole responsibility to contact your Biller directly if you don't receive a bill. If you elect to activate one of Bill Pay's electronic bill options, you also agree to the following:
- Information provided to the biller - We can't update or change your personal information such as your name, address, phone numbers and email addresses, with your Biller. You'll need to make any changes by contacting the Biller directly. We may, at the request of the Biller, provide the Biller with your email address, service address, or other information requested by the Biller so the Biller can contact you about Bill Pay and/or bill information.
- Activation - When the electronic bill feature is activated we may notify the Biller of your request to receive electronic billing information. Your Biller may accept or deny your request to receive electronic bills. It may take up to sixty (60) days for your first electronic bill to arrive, depending on the billing cycle of your Biller. While your electronic bill feature is being activated it's your responsibility to keep your account current. Your Biller will decide if you can receive a paper copy of your electronic bill.
- Authorization to obtain bill data - By activating the electronic bill feature for a Biller, you authorize us to obtain bill data from the Biller.
- Notification - We'll use our best efforts to present all of your electronic bills promptly. In addition to notification on the website, we may send an email notification to your email address on file with us. It's your sole responsibility to ensure that your email address on file is correct. If you don't receive notification, it's your responsibility to periodically logon to Bill Pay and check for the delivery of new electronic bills. The time for notification may vary from Biller to Biller. You're responsible for ensuring timely payment of all bills.
- Cancellation of electronic bill notification - You and Your Biller can each cancel the presentment of electronic bills at any time. The time that it takes to cancel an electronic bill may vary from Biller to Biller and can take up to sixty (60) days, depending on the billing cycle of each Biller. We'll notify your Biller about the cancellation but it's your sole responsibility to make arrangements for an alternative form of bill delivery. We're not responsible for presenting any bills that are already in process when you cancel electronic bills.
- Non-delivery of electronic bills - You agree to hold us harmless if the Biller fails to deliver your electronic bills. You're responsible for ensuring timely payment of all bills. Copies of previously delivered bills must be requested from the Biller directly.
- Accuracy and dispute of electronic bill - Keep in mind, we're not responsible for the accuracy of your electronic bills. We're only responsible for presenting the information we receive from the Biller. You must discuss any discrepancies or disputes regarding the accuracy of your electronic bill directly with your Biller.
Person2Person Payment Feature
You can use 360 Checking's "Person2Person Payment" Feature to authorize a person-to-person electronic fund transfer ("EFT") to non-commercial Payees (like your kids, babysitter or neighbor), including folks who have accounts at Capital One 360. You must use our website (www.capitalone360.com) to send a "Person2Person Payment" to someone - you can't call us. To authorize a person-to-person EFT, you must provide us with (i) the name of the person's/Payee's U.S. bank; (ii) the U.S. bank's routing number; (iii) the person's/Payee's bank account number; and (iv) the person's/Payee's email address. (To authorize a Person2Person Payment into someone's Capital One 360 360 Checking or 360 Savings®, all you need is her/his name, email address and Capital One 360 account number.).
Mail a Check Feature
Now, we know that 360 Checking is pretty innovative stuff so ... if you're the type of person who's just more comfortable with seeing a picture of a check on your screen when you pay someone, then 360 Checking's "Mail a Check" Feature may be right up your alley! When you use "Mail a Check" to pay a person or business, instead of just giving us certain information about who you'd like to pay, you'll see a picture of a blank check on your computer screen and then you fill-in the blanks. The address you've entered will be used to mail the payment. Your mailing address (which may be different from your residential address) will be listed as the return address in case your check needs to be returned to you. You should also know that depending on who your Payee is, we may not actually send a paper check but may instead send your payment electronically to get it there quicker (just like we would if you sent the payment instruction to us via "Bill Pay").
Overnight a Check Feature
With our "Overnight a Check" Feature you can tell us to issue an expedited physical (i.e., paper) check to either you or your Payee. So ... assuming we receive that instruction by 2:00 PM (Eastern Time) on a business day, we'll create a paper check that same day and send it out by courier so that you (or your Payee) receive it the next business day. We'll charge you for using this Feature (currently $20) at the same time we deduct the amount of the check. For example, if it's noon on Tuesday and you want to overnight a check to the electric company in the amount of $100, we'll deduct $120 from your 360 Checking on Tuesday and send the $100 check out via courier so that it reaches the electric company on Wednesday. You should know that when we issue a cashier's check it means that we promise to pay the Payee the amount of the check so you won't be able to stop payment on a cashier's check after we issue it.
Our "Checkbooks" Feature allows you to order a checkbook so you can write physical checks. We may charge you for each checkbook you order and may change the amount of the charge at any time. We'll let you know the amount of the charge, if any, when you order your checkbook and we'll deduct the charge from your 360 Checking account. Also, if you write a check in an amount that exceeds your Available Balance plus any available Overdraft Protection amount at the time the check is presented to us for payment, we'll return the check and impose an insufficient funds charge (currently $9) on your account.
Send a Wire Feature
We may offer a "Send a Wire" Feature and allow you to make a wire transfer from your 360 Checking. If we do, we may charge you for using this Feature and the charge will be deducted from your 360 Checking account at the same time we deduct the amount of the wire. We may also limit the amount you can send and where we will allow you to send the wire (for example, we may only allow you to send a wire to your Linked Account(s)).
OVERDRAFTS - If your Available Balance isn't enough to cover any payment or withdrawal you've authorized (including any applicable charges), you agree that we can either overdraw your 360 Checking, allow an Advance from your Overdraft Line of Credit, initiate a transfer from your linked Free Savings Transfer account, or we can refuse to process the payment/withdrawal. If for some reason we allow your 360 Checking to be overdrawn, you must immediately make a deposit to cover the negative balance. This can happen if a transaction takes your 360 Checking balance negative or (if applicable) a transaction exceeds your available Overdraft Protection amount. If we sue you to collect any overdraft, you agree that we're entitled to collect all costs and expenses of suit from you (including the reasonable cost of an attorney), in accordance with applicable law. If we allow an Advance from your Overdraft Line of Credit, you're responsible for any interest we charge in accordance with the terms of the Overdraft Line of Credit Agreement. You agree that we aren't liable for any damages or expenses you incur due to any delay or failure of the (i) courier (or the US Postal Service) in delivering any check; and (ii) any Payee or third party in crediting or processing a payment or withdrawal.
STOPPING/CHANGING/CANCELLING PAYMENTS - You may not stop, change or cancel a Send a Wire or Overnight a Check instruction after it has been submitted to us. If you'd like us to stop, change or cancel a one-time payment instruction (other than a Send a Wire or Overnight a Check instruction), we'll try to do so if we receive your request before 11:59 PM (Eastern Time) on the day before the payment is scheduled to be deducted from your account. If you'd like us to stop a Person2Person Payment instruction, you need to tell us to do so before the Payee picks-up her/his money. If you want us to try to stop payment on a check that you have sent (written from your checkbook or requested via 'Send a Check'), we'll charge you $25 for that service but we can't guarantee that the check won't be paid (for example, if the check is cashed before the stop payment request is received). We won't charge you for this service if we're unable to stop the payment. If the payment is an automatic recurring transaction and you contact us 3 or more business days before the funds are scheduled to be deducted from your account, we must stop the payment. If you properly notify us to cancel or change such a payment and we fail to do it, we'll be liable for your losses or damages.
360 CHECKING CARD - As you know, when you applied for 360 Checking, you automatically asked us to give you a Card. That's great because you can use it to (i) withdraw money at automated teller machines ("ATMs") that are part of a network we participate in; (ii) deposit cash or checks at a Capital One ATM that accepts Capital One 360 deposits, and (iii) make POS purchases (including "cash-back" transactions where a merchant gives you cash from your 360 Checking. You can't use your Card at an ATM to transfer money between your Capital One 360 accounts. By using your Card, you authorize us and/or our agents to debit your 360 Checking (including allowing Advances on your Overdraft Line of Credit or transfers from your linked Free Savings Transfer account). We reserve the right to refuse to make any transfer for security, credit, legal/regulatory or other reasons, as we determine in our sole discretion. You're responsible for all transactions you authorize using the Card, including any losses, charges or penalties incurred as a result. We don't charge you for using your Card but if you use it at an ATM, the owner of the ATM may charge you for using the ATM. If there is such a charge, you should be told how much it is before you complete the withdrawal. If you then decide to withdraw the money, the amount of the withdrawal, plus the charge, will be deducted from your 360 Checking account. The Card is the property of Capital One 360 and if your account is closed or your Card privileges are cancelled, you agree to stop using the Card and destroy it.
Transactions made with your Card in foreign currencies and transactions that are classified by MasterCard® as "cross-border transactions" (generally, transactions that are processed outside the United States) are called "foreign transactions." If a foreign transaction is in a foreign currency, it will be posted to your account in U.S. Dollars. The exchange rate between the foreign currency and U.S. Dollars is a rate selected by MasterCard®. Basically, here's how MasterCard® calculates the exchange rate: they usually start with either a government-mandated currency rate or a wholesale rate as of the day your foreign transaction is processed (i.e., not the date you made your purchase and not the date your purchase is posted on your statement). Once they have that rate, they add their own adjustment factor to it.
WHAT GETS PROCESSED WHEN - "Send a Wire" and "Overnight a Cashier's Check" instructions will be processed as soon as possible after you enter them (and the funds will be removed from your account immediately). At midnight of each business day, we'll first process scheduled "Person2Person Payments" and any other electronic fund transfers (other than "Bill Pay" instructions) scheduled for that business day. After all of those instructions have been processed, we'll then process all "Bill Pay" and "Mail a Check" instructions scheduled for that business day.
If there aren't enough funds in your 360 Checking account to allow all of the scheduled transactions for a business day to be completed ... we'll process your scheduled "Person2Person Payments" and any other electronic fund transfers (other than "Bill Pay" instructions) for that day first. We'll then process all scheduled "Bill Pay" and "Mail a Check" instructions for that day from highest dollar amount to lowest dollar amount. We'll attempt every scheduled payment until we exhaust your available balance (including your Overdraft Line of Credit/Free Savings Transfer account). For example, if you schedule three Bill Pay transfers of $1,000, $500 and $250 for the same business day, but only have $1,250 available (including your Overdraft Line of Credit/Free Savings Transfer account), we'll first pay the $1,000 transfer. Next, we'll attempt the $500 transfer. You won't have enough funds, so we'll refuse it. Finally, we'll attempt the $250 transfer. You do have funds to cover this payment, so we'll process it.
YOUR RESPONSIBILITY - You're responsible for all transactions you authorize, including any transactions or payments you unintentionally or inadvertently authorized, and any losses, charges or penalties incurred as a result. You must follow all of our instructions when you request and authorize any 360 Checking features. You must have sufficient available funds in your 360 Checking (which includes any available credit from the Overdraft Line of Credit/Free Savings Transfer account) to cover any payment or transfer you request. If you authorize someone else to use your 360 Checking/Overdraft Line of Credit/Free Savings Transfer account or Card, you're responsible for everything that person does with your 360 Checking/Overdraft Line of Credit/Free Savings Transfer account, including any losses, charges or penalties incurred as a result.
You're also responsible for giving us accurate Payee information. If any Payee information changes after you initiate a transfer or payment, you're responsible for notifying us of these changes. If you tell us to make a payment to a particular Payee and you fail to give us the correct information, we're not responsible or liable for the payment.
OUR RESPONSIBILITY - If we don't complete a payment or transfer on time, according to your properly transmitted instructions, we may be liable for your losses or damages. However, there are some exceptions. For instance, we won't be liable for losses and damages if:
- you don't have enough available funds in your 360 Checking (including any available amounts from your Overdraft Protection) to complete a payment or transfer, if your 360 Checking account has been closed, frozen, or isn't in good standing, or if we reverse a payment or transfer because of insufficient funds;
- you haven't properly followed our instructions;
- Payee or account information you give us is incorrect;
- you don't authorize a payment or transfer soon enough for it to reach the Payee by its due date;
- you receive notice from a Payee that any payment or transfer you made remains unpaid or hasn't been completed, and you don't notify us promptly;
- withdrawals from any of your accounts have been prohibited by a Court Order or other legal process;
- your computer, software, any Internet service provider, or our interactive website wasn't working properly and this problem should have been apparent to you when you tried to authorize a transfer or payment;
- you, or anyone you allow to use your 360 Checking commits fraud or violates any law or regulation; or circumstances beyond our control prevent a transfer or payment from being made.
Your 360 Checking Agreement, Overdraft Line of Credit Agreement and other agreements you may have with us contain other exceptions to the Bank's liability. You agree that we don't have any responsibility or liability for any act or omission beyond that which is imposed on us by law.
YOU AGREE TO INDEMNIFY, DEFEND AND HOLD HARMLESS THE BANK AND ANY OF OUR THIRD PARTY PROVIDERS WHO PERFORM 360 CHECKING RELATED SERVICES FOR YOU ON OUR BEHALF FROM ANY AND ALL CLAIMS AND LIABILITY ARISING FROM (i) YOUR USE OR INABILITY TO USE BILL PAY; AND (ii) ANY PAYMENTS INITIATED BY YOU THAT AREN'T COMPLETED DUE TO LACK OF FUNDS IN YOUR ACCOUNT(S).
UNDER NO CIRCUMSTANCES WILL WE OR OUR THIRD PARTY PROVIDERS BE LIABLE FOR ANY INDIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES ARISING OUT OF YOUR USE OF THE 360 CHECKING FEATURES, REGARDLESS OF THE NATURE OF THE CLAIM, INCLUDING NEGLIGENCE, EVEN IF WE OR OUR THIRD-PARTY PROVIDERS KNOW THAT SUCH DAMAGES MAY OCCUR. BILL PAY AND OTHER 360 CHECKING FEATURES ARE PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
DATA RECORDING - When you use any of our 360 Checking features (including your Overdraft Line of Credit and Card) to conduct transactions, the information you enter will be recorded. By using any of our 360 Checking features, you consent to such recording.
INTERACTIVE WEBSITE - Any 360 Checking related transactions that you request or authorize via our interactive website are subject to our Web Terms. Please see our Web Terms at www.capitalone360.com.
COLLECTION OF ITEMS - If we elect to receive checks and other items for collection, we act as your collection agent and don't assume any responsibility beyond the exercise of due care. We won't be liable for any default or negligence by any other banks we use to collect the check or item or for any loss in transit.
INSTRUCTIONS - We may refuse to follow any of your instructions that in our sole judgment are illegal or would expose us to potential liability. Alternatively, we may require adequate security or invoke other security measures to protect us from all losses and expenses incurred if we follow your instructions. You agree to reimburse us for any damages, losses, liabilities and expenses (including, but not limited to, the reasonable costs of an attorney) that we incur in connection with your 360 Checking if we take an action in accordance with your or what purports to be your oral, written or electronic instructions.
IF YOUR ADDRESS CHANGES: You must notify us of any change of address by calling us, or using our secure website. Any notice we mail to you (or email to you if you've told us to communicate with you electronically) will be binding and sent to the last address (postal or electronic) in our records. We may change your address if we receive an address change notice from the U.S. Postal Service ("USPS") or if a company in the business of providing correct addresses informs us that the address in our records no longer matches your address. Even if you elected to receive electronic communications from us, there may still be some legal information that we need to send you via the USPS.
COMMUNICATION - You agree that we may communicate with you by mail, telephone, email, fax, prerecorded message, automated voice, text message or other means allowed by law regarding your Account. You agree that we may contact you at any telephone number (including a mobile telephone number that you provide us), and use an automated telephone dialing system or similar device to do so. You agree that we may monitor or record any conversation or other communication with you.
ACCOUNT DOCUMENTATION - We reserve the right to charge you a $5 fee for documentation requests you make unless you are asserting that an error was made.
360 CHECKING MASTER ACCOUNT AND SUBACCOUNTS - For legal and accounting purposes, your 360 Checking is broken-down into two subaccounts (one savings account and one checking account, both of which earn interest at the same rate). However, these subaccounts are treated as a single master account - a checking with interest account - and as such, you won't have direct access to them. Whenever we give you information about your 360 Checking, we'll be talking about the master account and your Statement won't show the subaccounts or the transfers between them. At the beginning of each Statement period, we'll allocate your funds between the two subaccounts, as we deem appropriate. Bill payments, withdrawals and any other transfers from your 360 Checking will be made from the checking subaccount and we'll transfer money from the savings subaccount to cover them. On the sixth transfer from the savings subaccount during a Statement period, all of the funds in the savings subaccount will be transferred to the checking subaccount.
MONITORING AND CLOSING YOUR ACCOUNT - We reserve the right to monitor all 360 Checking and Overdraft Line of Credit activity for inappropriate use. Either you or we may close your 360 Checking at any time and for any reason. If we close your 360 Checking, all collected funds (less any amounts due to us or for debits in process) will be transferred to your external Linked Account. If you do not have an external account linked to your 360 Checking, or if our attempt to transfer the funds to your external account fails, we will mail you a check to the address we have in our records. If there is no valid address on file and you have a 360 Savings account that is titled exactly the same as your 360 Checking, we will transfer the funds to your 360 Savings.
State laws (called "escheat" laws) require us to close all your deposit accounts and transfer your money to the state if your accounts are dormant (meaning there's no activity on the accounts and you haven't contacted us) for a certain period of time. We want you to keep your money, not the state! You can avoid the transfer of your money to the state simply by signing into your account or calling us at least once a year. You agree that we may rely on third parties, such as the US Postal Service, to update the contact information that we have on record for you.
Here Comes the REALLY Hardcore Legal Stuff
LIEN AND SET-OFF - We have a continuing lien on, and under the 360 Checking Agreement you grant us a consensual security interest in, all of your deposits as security for any and all debts or obligations you owe us as borrower or otherwise, whether due or to become due. We may at our option, at any time and without notice to you, use all or any part of the money from your 360 Checking ("set-off") to pay any debt you owe to us of whatever kind and however arising. This right of set-off doesn't apply to your accounts to the extent restricted or prohibited by law or contract.
CHANGE/WAIVER OF TERMS - We may change the 360 Checking Agreement, add new provisions and/or delete provisions at any time. Changes and new provisions will be binding upon you and your 360 Checking as of their effective date. If we do make a change, we'll let you know about it as required by law. We may change the 360 Checking Agreement without notice to you when necessary to conform to federal or state law. We reserve the right to terminate, change, discontinue or add products, functionality, account types or features at any time and within our sole discretion. We have the right to waive any of our rights under the 360 Checking Agreement with respect to any transaction without obligating ourselves to treat future transactions in the same way.
NO FIDUCIARY OBLIGATION - Capital One 360 doesn't assume any fiduciary obligation on your behalf. This means that we don't act as your trustee or financial advisor, and we don't assume any responsibility for your 360 Checking or Overdraft Line of Credit beyond reasonable care.
ASSIGNMENT - You can't pledge, assign, give as a gift, or otherwise transfer the ownership of all or any part of your 360 Checking or Overdraft Line of Credit to a third party without our prior written consent.
COMPLIANCE WITH LAWS AND REGULATIONS - Your 360 Checking is subject to both Federal law and the laws of the State of Delaware, as well as any operating circulars or clearing house rules that apply to us and the rules and regulations of our supervisory authorities (collectively, "Applicable Law"). If there's a conflict between this 360 Checking Agreement and Applicable Law, the 360 Checking Agreement will be changed to the extent necessary to comply with Applicable Law. If any provision of this 360 Checking Agreement is declared to be invalid, unenforceable, or illegal, that provision will not affect the validity of any other provisions of this 360 Checking Agreement. Any dispute solely between you and the designated Bill Pay provider shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to its conflicts of laws provisions.
LEVIES, ATTACHMENTS, AND OTHER COURT PROCESS - If we receive a levy, attachment, or other legal process against you or any party to your 360 Checking, we may refuse to permit withdrawals or transfers from your 360 Checking until the legal process is dismissed or satisfied. Any levy, attachment, or other legal process will be subject to our right of set-off and security interest. You're responsible for any losses, costs, or expenses we incur as a result of any dispute or legal proceeding involving your 360 Checking.
CLAIMS - If we receive a claim against the funds in your 360 Checking, or if we know of or believe that there's a dispute as to the ownership or control of funds in your 360 Checking, we may, in our discretion: (i) place a hold on your 360 Checking and refuse to pay out any funds until we're satisfied that the dispute is settled; (ii) close your 360 Checking and send the balance to the named account holder(s); (iii) require a Court Order to act; or (iv) take any other action we feel is necessary to protect us. We won't be liable to you for taking any such action.
DEATH, INCAPACITY OR TERMINATION - If you die or are declared legally incompetent, or, in the case of a living trust account, the living trust is terminated, we can continue to accept deposits and collect items deposited to your 360 Checking, as well as continue to accept transaction instructions for your 360 Checking until we know of your death or adjudication of incompetency and have a reasonable opportunity to act.
NOTICES - Any notice that you give to us will be effective when it's actually received by us. Any notice that we give to you will be effective when it's electronically transmitted or deposited in the US Postal Service and addressed to you at your mailing address or email address. Notice to any one 360 Checking owner is notice to all joint owners.
CAPTIONS - The captions used in the 360 Checking Agreement are for convenience only. They don't affect the meaning of anything in the 360 Checking Agreement.
JURY TRIAL WAIVER - YOU AGREE TO GIVE UP YOUR RIGHT TO A TRIAL BEFORE A JURY. Subject to applicable law, you and we each agree to waive the constitutional or other right to a trial before a jury.
EVENTS BEYOND OUR CONTROL - We'll make all reasonable efforts to give you access to your accounts and current and complete account information. However, you agree that we won't be responsible for any interruption in service or loss caused by an event which is beyond our control, including, but not limited to, natural disasters, wars, riots, strikes, computer failure, terrorist act or loss of power, communication, or transportation facilities. We also won't be responsible for any losses or damages, including direct damages, resulting from your use of 360 Checking, unless such losses or damages are caused by our lack of good faith or failure to exercise ordinary care. In no event will we be responsible for indirect, special or consequential losses or damages of any kind.
ELECTRONIC FUND TRANSFER DISCLOSURE STATEMENT
The purpose of this Disclosure Statement is to inform you of your rights under the Electronic Fund Transfer Act. The Electronic Fund Transfers we are capable of handling are indicated below. Additional services may be provided in the future as they are developed. Please read this Disclosure Statement carefully and keep it for future reference.
1. ELECTRONIC FUND TRANSFER SERVICES. The electronic fund transfer services that are available to you when you open a 360 Checking with us are as follows:
A. Direct deposit of Federal Government payroll, disability, veteran's benefits, Social Security and such other Federal Government payments that you may receive and that may be deposited to your account, when available.
B. Direct deposit of your paycheck to your account, provided that your employer offers direct deposit and you complete any forms required by your employer.
C. Any other deposit to your account which is handled electronically, such as using a Capital One ATM, or as an automated clearing house transaction.
D. Transfer funds between your eligible Capital One, N.A. accounts and between your Linked Accounts and your Capital One 360 accounts via the Internet or by calling our call center, using your Password/PIN.
E. Transfer funds from your Capital One 360 accounts to make payments to your loan account(s) at Capital One 360 via the Internet or by calling our call center, providing your Password/PIN and instructions.
F. Pay or otherwise transfer funds to a third party by instructing us, via the Internet using your Password/PIN, to send funds to them either electronically or by physical check.
G. Transfer funds or deposit cash or checks as instructed by your use of a debit card that may be issued to you.
H. Electronic check conversion - You may authorize a merchant or other payee to make a one-time electronic payment from your 360 Checking account using information from your check to pay for purchases or to pay bills.
See your 360 Checking Agreement for a more complete description of some of these services.
2. CHARGES FOR ELECTRONIC TRANSACTIONS. We do not charge for most of our electronic fund transfer services. If, however, at your specific instruction, we sent a physical check via courier to a third party on your behalf, the cost of that service is currently $20. We reserve the right to collect additional charges at a later time and will notify you as required by law if we do so. We don't charge you for using your Card but if you use it at an ATM, the owner of the ATM may charge you for using the ATM. If there is such a charge, you should be told how much it is before you complete the withdrawal. If you then decide to withdraw the money, the amount of the withdrawal, plus the charge, will be deducted from your 360 Checking account.
3. ACCOUNT TRANSFER LIMITATIONS. You are not limited in the number of transfers that you may make into or out of your account(s). However, there are limits on the dollar amount of withdrawal transaction(s).
Any one "Bill Pay," "Mail a Check" or "Overnight a Check" transaction cannot exceed $100,000. Total Card purchases (including cash back amounts) made using your PIN are limited to $5,000 per day. Total Card purchases and cash advances where you don't use your PIN are limited to $5,000 per day. This does not include withdrawals from an ATM. Withdrawals from an ATM made using a Card are limited to $1,000 per day. You can lower this limit by calling us at 1-888-464-0727. "Person2Person Payment" (person-to-person transfers) transactions are limited to $5,000 per day.
4. RECORD OF TRANSACTIONS.
A. Pre-authorized credits. If you have arranged to have direct deposits made to your account at least once every sixty (60) days from the same person, entity or company, for example, your employer, you can call us at 1-888-464-0727 or access our website (www.capitalone360.com) through the Internet to find out whether or not the deposit has been made.
B. Periodic Statements for all electronic fund transfers described in this Disclosure. We'll provide you with a Statement at least 4 times a year. Your Statement will be made available to you via www.capitalone360.com. Payments or transfers you make will be listed on your Statement. You agree to notify us promptly if you think there's an error or unauthorized transaction shown on your Statement.
C. Receipts. You can get a receipt at the time you make any transfer from your account using an ATM or a point of sale terminal.
5. HOW TO CONTACT US. If you believe your E-Identification is no longer secure or confidential, or that someone has conducted or may conduct an EFT without your permission, please contact us immediately by accessing our website (www.capitalone360.com) through the Internet or calling or writing us at: Capital One 360, PO Box 60, St. Cloud, Minnesota, 56302-0060, 1-888-464-0727.
6. LIABILITY FOR UNAUTHORIZED TRANSFERS. CONTACT US IMMEDIATELY if you believe that an unauthorized transfer has occurred or may occur concerning your account(s) or that your E-Identification is no longer secure or confidential or may have been used without your permission. Telephoning us at 1-888-464-0727 is the best way of keeping your losses to a minimum. If you telephone us, we may require that you send us written confirmation of your notice to be received by us within ten (10) business days of your phone call. You may also notify us through our website (www.capitalone360.com) but we may also require that you send us written confirmation of your notice to be received by us within ten (10) business days of your electronic notice to us.
You could lose all the money in your account(s) (plus the maximum amount of your line of credit under the Overdraft Line of Credit if you have one) if you take no action to notify us of the unauthorized transfer or the loss of security or confidentiality of your E-Identification. If you notify us of the loss, your liability for unauthorized transfers will be as follows:
A. We have decided not to impose any liability on you even though the law says we could (up to $50) if someone used your E-Identification without your permission and you contact us within two (2) business days after you learn of the loss or unauthorized use.
B. If someone else used your E-Identification without your permission, you could lose as much as $500 if you do NOT contact us within two (2) business days after you learn of the loss or unauthorized use and we can prove that we could have prevented the loss had you contacted us.
C. If your Statement shows transfers that you did not make and you do NOT contact us within sixty (60) days after the Statement was made available to you, you may not get back any money lost after the sixty (60) days if we can prove that your contacting us would have prevented those losses.
We can extend these time periods if extenuating circumstances (such as a long trip or hospital stay) kept you from notifying us.
7. IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR TRANSACTIONS. Telephone us at 1-888-464-0727, write to us at Capital One 360, PO Box 60, St. Cloud, Minnesota, 56302-0060, or send us an electronic communication through the Internet at our website (www.capitalone360.com) as soon as you can if you think your Statement or transaction record is wrong or if you need more information about a transaction listed on a Statement or receipt involving your 360 Checking or Overdraft Line of Credit. We must hear from you no later than sixty (60) days after the FIRST Statement on which the problem or error appeared was made available to you.
You must provide us with the following information:
A. Tell us your name and account number or Customer Identification Number;
B. Describe the error or the transaction you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information; and
C. Tell us the dollar amount of the suspected error.
If you tell us orally or through electronic communication, we may require that you send us your complaint or question in writing within ten (10) business days to the above address. We will tell you the results of our investigation 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, or ninety (90) days for international or signature-based point of sale transactions, to investigate your complaint or question. If we decide to do this, we will re-credit your account within ten (10) business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we require your written confirmation and we do not receive your complaint or question in writing within ten (10) business days, we may not re-credit your account.
If we decide that there is no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents we use in our investigation. If we credit your account with funds while investigating an error, you must repay those funds to us if we conclude that no error has occurred.
After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your Statement that are not in question. If we find that we made a mistake on your Statement, you will not have to pay any finance charges related to any questioned amount. If we didn't make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date it is due.
If you fail to pay the amount we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten (10) days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your statement. And, we must tell you the name of anyone we reported you to. We must tell anyone we reported you to that the matter has been settled between us when it finally is.
If we don't follow these rules, we can't collect the first $50 of the questioned amount, even if your Statement was correct.
We may provide you with the results of our investigation electronically if you have agreed to receive electronic communications from us.
8. STOP PAYMENT PROCEDURE. You may not stop payment of an electronic transfer that is not recurring once you have initiated the transaction. If you informed us, in advance, to make automatic recurring transfers out of your account, you can stop any of these transfers by calling us at 1-888-464-0727 , writing us at Capital One 360, PO Box 60, St. Cloud, Minnesota, 56302-0060, or sending us an electronic communication through the Internet at our website (www.capitalone360.com) in time for us to receive your request three (3) business days or more before the transfer is scheduled to be made. When you make the request, you must tell us your name and account number, the account to which the transfer is scheduled to be made, specify the exact amount of the transfer you want stopped, and the date the transfer is scheduled to be made. If you call or send us an electronic communication, we may require you to put your request in writing within fourteen (14) days after you call or send us the electronic communication.
If you ordered us to stop one of these transfers 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, unless we require and do not receive written confirmation of an oral or electronic stop payment request within the fourteen (14) days and the transfer takes place after the fourteen (14) days, or you fail to give us proper instructions that would enable us to stop the transfer. We will not be responsible if our computer system does not act on your order because you did not give us precise and correct information. Our liability for losses or damages may be limited to actual damages that you have sustained if the failure to stop payment was due to a bona fide error, despite our procedures to avoid such errors.
9. BUSINESS DAYS. Our business days include every day other than Saturday, Sunday or one of the Federal Holidays or other days we are closed.
10. DISCLOSURE OF ACCOUNT INFORMATION TO THIRD PARTIES. We will disclose information to third parties about your account or the transfers you make:
A. Where it is necessary to complete transactions;
B. In order to verify the existence and standing of your account with us upon the request of a third party, such as a credit bureau;
C. In accordance with your written permission;
D. In order to comply with court orders or government or administrative agency summonses, subpoenas, orders, examinations and escheat reports; and/or
E. On receipt of certification from a federal agency or department that a request for information is in compliance with the Right to Financial Privacy Act of 1978.
11. OUR LIABILITY FOR FAILURE TO COMPLETE AN ELECTRONIC FUND TRANSFER. If we fail to complete a transaction on time or in the correct amount, when properly instructed by you in accordance with the terms and conditions of the 360 Checking Agreement, we will be liable for damages proximately caused by our failure unless:
A. There are insufficient funds in your account to complete the transaction through no fault of ours;
B. The funds in your account are not yet available for withdrawal;
C. The funds in your account are subject to legal process;
D. The failure is due to an equipment breakdown that you knew about before you began a transaction;
E. The failure was caused by an Act of God, fire or other catastrophe, or any other cause beyond our control despite reasonable precautions that we have taken;
F. The transfer would exceed your established credit limit; or
G. An electronic terminal has insufficient cash to complete the transaction.
In any case, we shall only be liable for actual proven damages if the failure to make the transaction resulted from a bona fide error despite our procedures to avoid such errors.
Deposit Availability Disclosure
Your Ability to Withdraw Funds
When a deposit is made to your account, the funds may not be available immediately. For example, if you deposit a check on Monday, you may not be able to withdraw the funds from that check, and we may not pay another check with those funds, until Tuesday or even later. Our general policy is to make funds from your check deposits available to you on the first business day after we receive the deposits. Cash and electronic direct deposits will be available on the day we receive the deposit. Longer delays may apply (as described below), and different rules apply for checks deposited from customers with accounts open fewer than 30 calendar days. Your account won't be considered "opened" until you have made a deposit to the account.
Even after we have made funds available to you and you have withdrawn the funds, you remain responsible if any deposit to your account is returned, rejected, or otherwise uncollected by the Bank.
Determining Business Day & Deposit Cut-off Times
The length of the delay is counted in business days from the day of your deposit. A business day is any day of the week except Saturday, Sunday, and Federal holidays. The business day ends at different times, depending on the channel used. The end of the business day is referred to as the "deposit cutoff time". If you make a deposit before our cutoff time on a business day that we are open, we will consider that day to be the day of your deposit. However, if you make a deposit after our cutoff time or on a day we are not open, we will consider the deposit to be made on the next business day that we are open.
Here are our cutoff times:
|If you make a deposit via...||The cutoff time is...|
|Capital One ATM||9:00 PM Eastern Time|
|Capital One Branch*||Branch closing|
|5:00 PM Eastern Time (when we receive it)|
|Online Banking and Phone Transfers||No Cut-Off time for Internal Transfers
5:00 PM Eastern Time for External Transfers
*Available on July 18, 2015
Availability Timeline for Deposits to Established Accounts
(Customers with accounts open longer than 30 days)
|When a deposit is made by...||Those funds are available on...|
||The same business day|
||The next business day|
Longer Delays May Apply
In some cases, we will not make all of the funds that you deposit by check available to you on the first business day after the day of your deposit. Depending on the type of check you deposit, funds may not be available until the second business day after the day of your deposit. The first $200 of your deposits, however, will be available on the first business day after the day of your deposit.
If we are not going to make all of the funds from your deposit available to you as described above, we will notify you at the time you make your deposit. We will also tell you when the funds will be available. If your deposit is not made directly to one of our employees, or if we decide to take this action after you have left the branch, we will send you the notice by the first business day after we receive your deposit.
If you need the funds from a deposit right away, you should ask us when the funds will be available.
In addition, funds you deposit by check may be delayed for a longer period under the following circumstances:
Funds from check deposits may be delayed for up to four business days if:
- You deposit checks totaling more than $5,000 on any one day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- There is an emergency, such as failure of computer or communications equipment.
Funds from check deposits may be delayed for up to five business days if:
- We believe a check you deposit will not be paid
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available.
Special Rules for New Customers
If you are a new customer, the following timeline will apply during the first thirty (30) days your account is open.
|When a deposit is made by...||Those funds are available on...|
||The same business day|
Checks must be payable to you
||The fourth business day|
Holds on Other Funds (Check Cashing)
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. If we do, we will hold those funds according to the deposit timelines above.
Availability Of Other Deposits
Automated Clearing House ("ACH") transfers
Electronic fund ACH deposits that we originate on your behalf (including all future dated transfers) will generally be made available on the second business day after the date of your transfer.
Checks deposited using our Mobile Deposit application are not subject to the funds availability requirements of Regulation CC. This will be true even if we follow our Availability Timelines provided above and provide you with Regulation CC disclosures or notices.
Checks deposited using this service will generally be available on the first business day after the deposited date, but we can place an extended hold on your deposited funds as described in our Availability Timelines. We will notify you if we delay the availability of your funds, and we will tell you when you can expect your funds to be available.
OVERDRAFT PROTECTION SERVICE
You have two options to choose from if you want overdraft protection, which is when transactions will be covered if there isn't enough money in your 360 Checking Account. You can only choose one Overdraft Protection Service per Checking Account: either an Overdraft Line of Credit or Free Savings Transfer.
OVERDRAFT LINE OF CREDIT AGREEMENT
|Interest Rates and Interest Charges|
|Annual Percentage Rate (APR)|| variable (Based on Prime + Margin) effective as of
This APR will vary with the market based on Wall Street Journal Prime rate plus a margin.
|Paying Interest||We will charge you interest on Advances from the day the Advance is posted to your Overdraft Line of Credit, until the balance is paid in full. There is no interest grace period for advances.|
HOW WE CALCULATE YOUR NEW BALANCE: We use the "daily balance method". See the Overdraft Line of Credit Agreement for more details.
YOUR BILLING RIGHTS: Information on your rights to dispute transactions and how to exercise those rights is provided in the Overdraft Line of Credit Agreement.
This agreement contains important information about your Overdraft Line of Credit. Please read and keep a copy of this Overdraft Line of Credit agreement ("Overdraft Line of Credit Agreement") for your records. When we use the word "Account" in the Overdraft Line of Credit Agreement, we're referring to your 360 Checking and the Overdraft Line of Credit, collectively. We can add-to, delete or make any other changes we want to the Overdraft Line of Credit Agreement at any time, as permitted by applicable law.
1. THE BASICS - Your Overdraft Line of Credit is an unsecured, revolving line of credit. The Overdraft Line of Credit is an optional feature of 360 Checking. You can choose to apply for the Overdraft Line of Credit when you open your 360 checking account or at a later date. We'll tell you what your credit limit is when you are approved for the Overdraft Line of Credit. The only way to access your Overdraft Line of Credit is to overdraw your 360 Checking. So ... whenever the available balance in your 360 Checking is insufficient to cover a withdrawal request (like a bill payment, interest payment, Person2Person Payment or other transfer, or point of sale ("POS") transaction), or whenever the available balance is otherwise negative, you authorize and direct us to make a loan to you by transferring enough funds from your Overdraft Line of Credit to cover the overdraft (each an "Advance"). You may not request an Advance in excess of your available credit. We're allowed to increase or decrease your credit limit at our discretion, at any time, without advance notice to you, as allowed by applicable law. You must be at least 18 years old to be eligible for an Overdraft Line of Credit. If your Account is jointly held (or, in the case of a living trust account, if there are Co-Trustees), the Overdraft Line of Credit Agreement is the joint and several obligation of each of you, and each provision of the Overdraft Line of Credit Agreement applies to each and all of you jointly and severally. Each of you (including your estate or personal representative, or, in the case of a living trust account, the trust and any successor trustee) is bound by the terms of the Overdraft Line of Credit Agreement, as they may be amended from time to time.
2. FOR YOUR PROTECTION - We reserve the right to ask you to confirm any of your electronic instructions before we process any Advance. However, we're not required to confirm any Advance that looks like it was made by you, and we won't be liable if we don't contact you. We're also not required to confirm the actual identity or authority of anyone who uses your Password or a personal identification number ("PIN") or any Account access device we gave you (such as a 360 Checking Debit Card ("Card"))(collectively, "E-Identification").
3. YOUR PROMISE TO PAY - You promise to pay the total amount of all Advances, plus interest and any other amounts, owed under the Overdraft Line of Credit Agreement.
4. REPAYMENT - The only way for you to repay any Advance taken against your Overdraft Line of Credit is by making a deposit into your 360 Checking. Each time you make a deposit, we will immediately use that deposit to satisfy any balance on your Overdraft Line of Credit. By accepting the terms of the 360 Checking and Overdraft Line of Credit Agreements, you authorize us to periodically make electronic fund transfers from your 360 Checking to your Overdraft Line of Credit to repay all or part of your Overdraft Line of Credit balance. For example, if on Day 1 you have a $100 balance on your Overdraft Line of Credit (i.e., you owe us $100), and on Day 10 you make a $200 deposit into your 360 Checking, on Day 10 we'll use $100 of your $200 deposit to repay the amount you owe on your Overdraft Line of Credit. This means that the balance in your 360 Checking at the end of Day 10 will be $100 (not $200) and the balance on your Overdraft Line of Credit (excluding any accrued interest) will be $0 (not $100). In addition, on the last day of every month during which you had a balance on your Overdraft Line of Credit, we'll deduct any interest you owe us for that month from your 360 Checking. If you don't have enough money in your 360 Checking to cover the interest you owe us, an Advance will be taken against your Overdraft Line of Credit to satisfy the amount due.
5. HOW WE CALCULATE YOUR NEW BALANCE - The total outstanding balance on your Overdraft Line of Credit as of the last day of the month (including all outstanding Advances and all accrued and unpaid interest) appears as the "New Balance" on your Statement. To determine the "New Balance," we calculate the total outstanding unpaid Advances at the end of the month (which includes any new Advances posted to your Overdraft Line of Credit during the month, less any deposits or credits). Then we add all accrued and unpaid interest charges (called "Finance Charges" on your Statement) through the end of the month and other applicable adjustments. The result is the "New Balance" for your Overdraft Line of Credit as of the last day of the month.
6. THE ANNUAL PERCENTAGE RATE AND HOW IT'S DETERMINED - The annual percentage rate ("APR") for your Overdraft Line of Credit is a variable rate that can increase or decrease as often as once each business day. The initial APR for the 360 Checking Line of Credit is variable (based on Prime + Margin). The Corresponding daily periodic rate is
Here's how we determine the APR. First, we take the value of an independent "Index." The Index is the Prime Rate as published in the Wall Street Journal. Then, we add a "Margin" to the Index. The current Margin for the Overdraft Line of Credit is 8.00% but ... we may, from time to time, use a lower or higher Margin up to 12%. If we do use a lower Margin, we haven't waived our right to use a Margin up to 12% in the future. The APR for the Overdraft Line of Credit equals the Margin plus the applicable Index. The APR may change daily based on the Index and Margin in effect as of the start of the day. If your APR increases, the interest you owe will also increase. If your APR decreases, the interest you owe will decrease.
7. HOW WE CALCULATE THE INTEREST YOU OWE US - We will charge you interest on Advances from the day the Advance is posted to your Overdraft Line of Credit, until the balance is paid in full. There is no interest grace period for Advances. Here's how we calculate the interest you owe us.
At the beginning of each day, we start with the total outstanding unpaid Advances, excluding any accrued or unpaid interest. Then we add any new Advances, subtract your deposits and credits (except for the portions applied toward billed and unpaid interest), and make any other appropriate adjustments. This gives us a daily balance for Advances. On each day of the month, we then multiply the daily balance for Advances by the applicable daily periodic rate. The resulting number is your interest for that day. Then we add up all the interest charges for each day of the month. The resulting number is your total interest (called "Finance Charges" on your Statement) for the month.
8. WHEN YOUR DEPOSITS (a.k.a. PAYMENTS) ARE DUE - If, on the last day of the month, you have a balance on your Overdraft Line of Credit less than or equal to $3,333.33, you must deposit the lesser of (i) $100; or (ii) the total outstanding principal balance (called the "Balance Subject to Finance Charge" on your Statement) on your Overdraft Line of Credit, into your 360 Checking by the last day of the following month. For example, if on the last day of June, you have a $2,000 balance on your Overdraft Line of Credit, you must deposit at least $100 into your 360 Checking by July 31. If on the last day of June, you have an $89 balance on your Overdraft Line of Credit, you must deposit at least $89 into your 360 Checking by July 31. If, on the last day of the month, you have a balance on your Overdraft Line of Credit greater than $3,333.33, you must deposit at least 3% of the total outstanding principal balance on your Overdraft Line of Credit, into your 360 Checking by the last day of the following month. For example, if on the last day of June, you have a $6,000 balance on your Overdraft Line of Credit, you must deposit at least $180 into your 360 Checking by July 31. If you fail to make a required deposit when due, the amount you should have paid becomes overdue (the "Overdue Amount"), and by the last day of the following month, you're required to pay the Overdue Amount plus any amount due and owing for the current month.
9. DEFAULT - You'll be in default, and we won't be obligated to honor any request for an Advance (even if we don't give you advance notice) if (i) we don't receive a deposit/payment when due; (ii) subject to applicable law, you break one of your promises under the 360 Checking or Overdraft Line of Credit Agreements; or (iii) we reasonably believe that your ability to repay us has been impaired.
If you're in default under the terms of the 360 Checking or Overdraft Line of Credit Agreements, and subject to applicable law, we may, at our option and without advance notice, close your Account and require you to immediately pay us the entire amount you owe under the Overdraft Line of Credit Agreement, in full. You agree to pay any and all reasonable costs of an attorney, court costs and other collection costs incurred by us when we attempt to collect any amounts you owe us. If we close your Account, you agree to stop using the Account immediately, and to destroy any access device we gave you.
10. LOST OR STOLEN E-IDENTIFICATION - If any part of your E-Identification is lost or stolen, or if you think someone has used or may use your E-Identification without your permission, notify us RIGHT AWAY by calling 1-888-464-0727. Don't use your E-Identification after we've been notified. You agree that if we're notified of the possible loss, theft or unauthorized use of your E-Identification, we may close your Account to new Advances, change your Account number and require you to get new E-Identification.
11. UNAUTHORIZED TRANSFERS - After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your Statement that are not in question. If we find that we made a mistake on your Statement, you will not have to pay any finance charges related to any questioned amount. If we didn't make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date it is due.
If you fail to pay the amount we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten (10) days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your statement. And, we must tell you the name of anyone we reported you to. We must tell anyone we reported you to that the matter has been settled between us when it finally is.
If we don't follow these rules, we can't collect the first $50 of the questioned amount, even if your Statement was correct.
12. CLOSING YOUR ACCOUNT - We may, subject to applicable law, close your Account at any time, regardless of whether you're in default. If your Account is closed by us or you, you agree to pay us all amounts you owe under the terms of the Overdraft Line of Credit Agreement. If you're in default, we may close your Account and require you to pay us immediately the entire amount you owe under the Overdraft Line of Credit Agreement, in full. If we do this, we may also require you to pay us immediately the entire amount you owe under other loans or accounts you may have with us, in accordance with applicable law and subject to any contrary agreement we may have with you. You may ask us to close your Account at any time by calling us. You also agree to stop using the Account immediately after you notify us in writing that you want us to close your Account.
13. DELAY IN ENFORCEMENT - We may delay enforcing any of our rights or remedies under the Overdraft Line of Credit Agreement or applicable law without losing any of those rights or remedies. Even if we don't enforce our rights or remedies at any one time, we can enforce them later.
14. CREDIT REPORTS/INFORMATION REPORTING - You agree that in connection with your application for the Overdraft Line of Credit, the Bank reserves the right to obtain credit information about you from one or more credit reporting agencies. You also agree that the Bank reserves the right to obtain follow-up credit reports on you in connection with the maintenance, review or collection of your Overdraft Line of Credit. We may report your performance under the Overdraft Line of Credit Agreement to credit reporting agencies and others, to the fullest extent permitted by law.
15. ACCOUNT SERVICERS - You agree that we can give information about you and your Account to any third party that helps us service your Account, and to any third party that reasonably needs the information to process an Advance or other Account transaction.
16. UPDATING INFORMATION - You agree to promptly give us information updating your finances and employment and any other information we may reasonably request. If you don't give us the information promptly, we may close your Account and may also consider you to be in default under the Overdraft Line of Credit Agreement.
17. CHANGE IN TERMS - As required by law we will notify you of any material changes in the terms of the Overdraft Line of Credit Agreement.
18. OUR LIMITED LIABILITY - Unless applicable law expressly requires otherwise, we won't be liable to you for any direct, indirect or consequential loss, damage or inconvenience arising out of your use of or inability to access your Account. Also, we won't be liable to you for problems with your E-Identification or any Account malfunction, cancellation, or restriction. Unless applicable law expressly requires otherwise, we won't be responsible for any inconvenience or damages you suffer that are caused directly or indirectly by our failure to complete a requested Advance in accordance with your instructions.
19. CERTAIN WAIVERS - You agree to waive the "right of presentment" and "notice of dishonor." Waiving the right of presentment means that we're not required to demand payment of amounts due under this Agreement. Waiving the notice of dishonor means that we're not required to tell anyone that amounts due under this Agreement haven't been paid. You also agree to waive demand for payment, protest, notice of protest, and all other notices and demands, to the fullest extent permitted by applicable law.
20. GOVERNING LAW - Delaware and federal law govern the Overdraft Line of Credit Agreement and your Overdraft Line of Credit, without regard to Delaware principles of conflicts of laws. If any term of the Overdraft Line of Credit Agreement is held invalid or unenforceable by a Court or administrative agency having proper jurisdiction, the remainder of the Overdraft Line of Credit Agreement shall remain in effect.
21. ASSIGNMENT - We may assign your Overdraft Line of Credit and our rights under the Overdraft Line of Credit Agreement to our affiliates or to another financial institution or company without advance notice to you. You may not assign or transfer the Overdraft Line of Credit or any of your responsibilities under the Overdraft Line of Credit Agreement to any other person without first obtaining our written consent. We don't have to give our consent.
22. NO SECURITY INTEREST - The Overdraft Line of Credit is unsecured. We're not taking a security interest in any property in connection with your Overdraft Line of Credit.
23. CAPTIONS - The captions used in the Overdraft Line of Credit Agreement are for convenience only. They don't affect the meaning of anything in the Overdraft Line of Credit Agreement.
24. JURY TRIAL WAIVER - All actions arising out of this agreement or concerning your checking account shall be heard by a judge sitting without a jury.
FREE SAVINGS TRANSFER
There is no cost to enroll in this service and we do not charge you when you use it. Choosing this option authorizes us to automatically transfer available funds from the 360 Savings Account you select to cover transactions that would otherwise take your 360 Checking Account available balance below $0.00. You can link only one savings account as overdraft protection and the account ownership of the 360 Savings Account must match the 360 Checking Account in order to be linked for overdraft protection.
At the end of each business day, if the available balance in your checking account is insufficient to cover a check or other item presented for payment, we will transfer funds from your savings account in the exact amount to cover the overdraft. If the available balance in your savings account is not enough to cover the total amount of the overdraft, no transfer of funds will occur and we will either (i) return the items and charge a Non-Sufficient Funds (NSF) fee when applicable or (ii) pay the items and create a negative balance in the checking account.
An email alert will be sent when a transaction is authorized that will take the 360 Checking account available balance below $0 and will be covered by funds in the linked 360 Savings account. This funds transfer will occur automatically at the end of the day.
Keep in mind that savings account transfers are limited to six (6) transfers per monthly billing cycle. Once the monthly transaction limit is reached, we will no longer process the savings account transfer to cover the negative balance and your transaction may be declined. Please refer to the "Transaction Limitations" (link) section of the Truth in Savings Disclosures for your 360 Savings Account.
This service will automatically terminate if the 360 Savings Account or the 360 Checking Account is closed. We can also terminate this service at any time without notice. We may continue to follow these instructions until withdrawn by you and we have had a sufficient period of time after receipt of your notification to act upon it.
|FACTS||WHAT DOES CAPITAL ONE®
DO WITH YOUR PERSONAL INFORMATION?
|Why?||Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.|
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
|How?||All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Capital One chooses to share; and whether you can limit this sharing.|
|Reasons we can share your personal information||Does Capital One share?||Can you limit this sharing?|
|For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus||YES||NO|
|For our marketing purposes – to offer our products and services to you||YES||NO|
|For joint marketing with other financial companies||YES||NO|
|For our affiliates' everyday business purposes – information about your transactions and experiences||YES||NO|
|For our affiliates' everyday business purposes – information about your creditworthiness||YES||YES|
|For our affiliates to market to you||YES||YES|
|For nonaffiliates to market to you||YES||YES|
|To limit our sharing||
If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice.
However, you can contact us at any time to limit our sharing.
|Questions?||Go to www.capitalone.com/contactus Opens a new window|
|Who we are|
|Who is providing this notice?||Our affiliates include financial companies with the Capital One, Chevy Chase, Onyx, and Greenpoint names, such as Capital One Bank (USA), National Association; and Capital One, National Association.|
|What we do|
|How does Capital One protect my personal information?||To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.|
|How does Capital One collect my personal information?||
We collect your personal information, for example, when you
|Why can't I limit all sharing?||
Federal law gives you the right to limit only
|What happens when I limit sharing for an account I hold jointly with someone else?||Your choices will apply to everyone on your account.|
Companies related by common ownership or control. They can be financial and nonfinancial companies.
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
|Other important information|
|CA and VT Residents: We will not share your information with companies outside of Capital One, except for our everyday business purposes, for marketing our products and services to you, or with your consent.
VT Residents only: We will not disclose credit information about you within or outside the Capital One family of companies except as required or permitted by law.
NV Residents: Notice provided pursuant to state law. To be placed on our internal Do Not Call List, call 1-888-817-2970. If you would like more information about telemarketing practices, you may contact us at Capital One, P.O. Box 30285, Salt Lake City, UT 84130-0285 or firstname.lastname@example.org. For more on this Nevada law, contact Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number: 1-702-486-3132 ; e-mail: BCPINFO@ag.state.nv.us.
Telephone Communications: All telephone communications with us or our authorized agents may be monitored or recorded.
And Finally! Wow, that was a lot of reading. Congratulations for finishing this! Now you are 100% ready to save your money like never before. Thanks for being a Capital One 360 Customer.