OCEANFIRST BANK
VISA® CHECK CARD
TERMS AND CONDITIONS
PLEASE READ CAREFULLY
The following information applies to the debit (check card)
feature and the ATM (Automated Teller Machine) feature
of your new OceanFirst Bank Visa Check Card (the Visa
Check Card). The words “you”, “your” and “yours” refers
to the Visa Check Card holder(s) individually and jointly.
The words “we”, “us”, and “our” refers to OceanFirst
Bank.
1. We will issue to you a Visa Check Card for your use
subject to the terms of this Agreement and the Electronic
Funds Transfer Act and Regulation E, all as amended from
time to time.
2. You may choose a Personal Identification Number
(PIN). At no time will you reveal or make available,
directly or indirectly, the PIN to any other person.
3. You may use your OceanFirst Bank Visa Check Card
instead of a check to purchase goods or services at any
merchant who has agreed to accept Visa debit cards. The
amount of all purchases will be deducted from your
designated OceanFirst Bank checking account (“your
checking account”). You may also use your OceanFirst
Bank Visa Check Card for ATM cash withdrawals,
deposits and transfers.
4. We may limit the total amount of your daily purchases
to the lesser of your available checking account balance or
$2,500 ($300 for Fresh Start and $3,500 for Platinum
customers). We may limit the amount of ATM withdrawals
to the lesser of your available account balance(s) or $600
($300 for Fresh Start and $1,500 for Platinum customers.)
You agree that we may hold funds representing purchases
and ATM transactions authorized until posted to your
account(s).
5.
The ATM systems works on a seven-day calendar
week. Each day runs from 3:00 P.M. to 3:00 P.M. the
following day. There are certain limitations on the
frequency of use of the Visa Check Card each business day.
These limitations are imposed for security purposes.
However, these limitations are not revealed for security
reasons.
6. You may not place a stop payment on any purchase
transaction conducted with your Visa Check Card. If you
want to stop payment on an electronic funds transfer, you
must notify us 3 business days prior to the due date of the
transfer. A fee will be charged for this service. Please refer
to the Fee Schedule for this charge. When a stop payment
request is given orally, you must provide written
confirmation to us within 14 days for the stop payment to
remain in effect. If the amount of your electronic funds
transfer can vary, it is the responsibility of the person or
company receiving the payment to tell you, 10 days before
each payment, when it will be made and how much it will
be. You may choose instead to get this notice only when
the payment amount would differ by more than a certain
amount from the previous payment, or when the payment
would fall outside certain range limits set by you.
7. The Visa Check Card is the property of OceanFirst
Bank and may be revoked or canceled without notice and
for any reason. You agree to surrender the Visa Check
Card upon demand.
8. You may cancel your OceanFirst Bank Visa Check Card
by notifying OceanFirst Bank in writing and physically
surrendering your OceanFirst Bank Visa Check Card.
9. Nothing in this Agreement shall be deemed to annul,
limit or in any way modify the terms of any other
relationship you may now or hereafter have with us.
10. You authorize us to obtain any information deemed
necessary to process an application for a Visa Check Card.
Additionally, you agree that we will disclose information to
third parties about your account(s) for the transactions you
make: a) where it is necessary for completing transactions;
b) in order to verify the existence and condition of your
account(s) for a third party such as a credit bureau or
merchant; c) in order to comply with a government agency
or court order; or d) if you give us your written permission.
11. You agree to pay a fee of $2.50 for each ATM
withdrawal made at an ATM not owned or operated by
OceanFirst Bank. These fees will be deducted directly
from the balance of the account you are using to conduct
the transactions.
12. If you have a problem with the quality of goods or
services that you have purchased with your Visa Check
Card at a participating merchant, you may have the right to
reimbursement from that merchant. Certain limitations
may apply. You agree to cooperate in our investigation and
to provide us with receipts and signature exemplars upon
request. For more information regarding this feature,
please contact us at 732-240-4500 Ext. 7710.
13. You acknowledge and agree that we will not be liable
if a merchant refuses to accept or is unable to complete a
transaction using your Visa Check Card.
14. You agree not to use your Visa Check Card to engage
in activities deemed illegal by federal and/or state laws,
including but not limited to internet gambling. If you use
your Visa Check Card to engage in certain activities
deemed illegal by federal and/or state laws, you will
nevertheless be liable for any resulting transaction(s) made
by the use of your Visa Check Card.
Customer Liability Disclosure Statement and
Error Resolution Notice
Regulations establish certain liabilities and responsibilities
for banks and their customers for unauthorized transactions
made with your Visa Check Card.
The following disclosures apply: If you are an OceanFirst
Bank Visa Check Card customer and you follow the
procedures we suggest below, you may limit the amount of
money you may lose from your account(s) as a result of the
unauthorized use of your Visa Check Card.
If you selected your Visa Check Card PIN, memorize it.
Do not write it on your OceanFirst Bank Visa Check
Card. Destroy any written record of your PIN.
Consumers Liability for Unauthorized Transfers and
Advisability of Prompt Reporting
(1) Generally.. Tell us at once if you believe your
OceanFirst Bank Visa Check Card has been lost or stolen
or used without your authority. Telephoning us is the best
way of keeping your possible losses down. You could lose
all the money in your account(s). If you tell us within 2
business days, you can lose no more than $50 if someone
uses your Visa Check Card to make an ATM transaction
without your permission.
If you do not tell us within 2 business days after you learn
of the loss or theft of your Visa Check Card, and we can
prove we could have stopped someone from using your
Visa Check Card without your permission if you had told
us, you could lose as much as $500.00
Also, if your statement shows transfers that you did not
authorize, tell us at once. If you do not tell us within 60
days after the statement was mailed to you, you may not get
any money you lost after the 60 days if we can prove that
we could have stopped someone from taking the money if
you had told us in time.
If a good reason (such as a long trip or hospital stay) kept
you from telling us, we will extend the time periods.
(2) Additional limits on liability for Visa Check
Card, when used for point-of-sale (POS)
transactions. Unless you have been grossly negligent or
have engaged in fraud, you will not be liable for any
unauthorized transactions using your lost or stolen Visa
Check Card, when used for point-of-sale (POS)
transactions.
(3) Contact in event of unauthorized transfer. If you
believe your card and/or code has been lost or stolen or that
someone has transferred or may transfer money from your
account without your permission, telephone us at 732-2404500 Ext. 7710 during business hours or write:
OceanFirst Bank
Retail Customer Services
P. O. Box 2009
Toms River, New Jersey 08754-2009
After Business Hours Call: 1-888-OCEAN33
(1-888-623-2633)
Our business days are Monday through Friday. Holidays
are not included.
Right to Receive Documentation of Transfers.
POS Terminal Transfers: You will get an acknowledgment
at the time you make any POS purchase.
ATM Terminal Transfers: You can get a receipt at the time
you make any transfer to or from your account(s) using an
ATM.
Periodic Statements: You will get account(s) statements
monthly if these accounts have Electronic Funds Transfer
(EFT) activity. In any case, you will get a statement at least
quarterly.
Pre-authorized Transactions: If you have arranged to have
direct deposits or debits made to your account(s) at least
once every 60 days from the same person or company, you
can call us at 732-240-4500, ext. 7710, to find out whether
or not the transaction has been processed.
Financial Institution’s Liability for Failure to Make
Transfers
If we do not complete a transfer to or from your account on
time or in the correct amount according to our agreement
with you, we will be liable for your losses or damages.
However, there are some exceptions. We will not be liable,
for instance:
1. If, through no fault of ours, you do not have enough
money in your account to make the transfer.
2. If the system was not working properly and you knew
about the breakdown when you started the transfer.
3. If circumstances beyond our control (such as fire or
flood) prevent the transfer, despite reasonable precautions
that we have taken.
4. If the automated teller machine where you are making
the transfer does not have enough cash.
5. There may be other exceptions stated in this Agreement
with you.
Error Resolution Disclosure
In case of errors or questions about your POS or ATM
transactions, telephone us at 732-240-4500 Ext. 7710, or
write:
OceanFirst Bank
Retail Customer Services
P. O. Box 2009
Toms River, New Jersey 08754-2009
as soon as you can, if you think your statement or
acknowledgment is wrong, or if you need more information
about a transaction listed on the statement or
acknowledgment. We must hear from you no later than 60
days after we send the first statement on which the problem
or error appears.
1. Tell us your name and Visa Check Card account number
which is on the front of your Visa Check Card.
2. Describe the error or the transaction you are unsure
about, and explain as clearly as you can why you believe
there is an error or why you need more information.
3. Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your
complaint or question in writing within 10 business days.
We will tell you the results of our investigation within 10
business days (5 business days for Visa Check Card POS
transactions and 20 business days if the transfer involved
another type of POS transaction or a foreign-initiated
transfer) after we hear from you and will correct any error
promptly. If we need more time, however, we may take up
to 45 days (90 days if the transfer involved a POS
transaction or a foreign-initiated transfer) to investigate
your complaint or question. If we decide to do this, we
will credit your account within 10 business days (5
business days for Visa Check Card POS transactions and
20 business days if the transfer involved another type of
POS transaction or a foreign-initiated transfer) for the
amount you think is in error, so that you will have the use
of the money during the time it takes us to complete our
investigation. If we ask you to put your complaint or
question in writing and we do not receive it within 10
business days, we may not credit your account.
If we decide that there was no error, we will send you a
written explanation within 3 business days after we finish
our investigation. You may ask for copies of the
documents that we used in our investigation by writing to:
OceanFirst Bank
Retail Customer Services
P. O. Box 2009
Toms River, New Jersey 08754-2009
MORE DETAILED INFORMATION IS AVAILABLE
UPON REQUEST
Third-Party Fees
If you use your OceanFirst Visa Check Card to perform
transactions at an ATM that is not operated by OceanFirst
Bank, the other operator may charge you a fee for each
transaction.
Non-Visa Debit Transactions
Effective July 1, 2008, new procedures will go into effect
that may impact you when you use your Visa check card at
certain merchant locations. While in the past transactions
have been processed as Visa Check Card transactions
unless you entered a PIN, in the future if you do not enter a
PIN, transactions may be processed as either a Visa Check
Card transaction or a transaction on the ACCEL® or
PLUS® networks.
Merchants must provide you with a
clear way of choosing to make a Visa Check Card
transaction if they support this option. Please be advised
that should you choose to use the ACCEL® or PLUS®
networks when making a transaction without a PIN,
different terms may apply and you will not be eligible for
rewards accrued on transactions processed over the Visa
network. Certain protections and rights applicable only to
Visa Check Card transactions as described in your
cardholder agreement will not apply to transactions
processed on the ACCEL® or PLUS® networks. Please
refer to the section on Consumers Liability for
Unauthorized Transfers and Advisability of Prompt
Reporting.
International Exchange Rate
The exchange rate between the transaction currency and the
billing currency used for processing international
transactions is a rate selected by Visa from a range of rates
available in wholesale currency markets for the applicable
central processing date, which may vary from the rate Visa
itself receives, or the government mandated rate in effect
for the applicable central processing date.
International Service Assessment Fee
We will charge an International Service Assessment fee for
each transaction (including, but not limited to , a purchase,
return or cash advance) processed to your OceanFirst Visa
Check Card account by a merchant outside the United
States and its territories. This Fee will be equal to 1% of
the transaction amount in U.S. Dollars, regardless of
whether the merchant submits the transaction in U.S.
Dollars or the transaction is converted from a foreign
currency to U.S. Dollars by Visa. This fee will be shown
as a separate amount on your statement.
WITH YOUR OCEANFIRST BANK VISA CHECK CARD
YOU CAN:
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•
•
•
•
MAKE
PURCHASES
AT
MERCHANTS
ACCEPTING THE VISA DEBIT CARD
MAKE DEPOSITS TO YOUR CHECKING,
SAVINGS OR MONEY MARKET ACCOUNT (S)
MAKE CASH WITHDRAWALS FROM YOUR
CHECKING, SAVINGS OR MONEY MARKET
ACCOUNT (S)
TRANSFER FUNDS
GET INFORMATION ABOUT THE BALANCE
OF YOUR ACCOUNT (S)
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