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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 $900 ($300 for Fresh Start and $2,500 for Platinum customers).  We may limit the amount of ATM withdrawals to the lesser of your available account balance(s) or $500 ($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.  You may not enter into any pre-authorized payment arrangements using your Visa Check Card.


8.  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.


9.  You may cancel your OceanFirst Bank Visa Check Card by notifying OceanFirst Bank in writing and physically surrendering your OceanFirst Bank Visa Check Card.


10.  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.


11.  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.


12.  You agree to pay a Visa Check Card annual fee and a replacement card fee pursuant to our current Fee Schedule.  We may fix or change these fees at any time, subject to applicable laws and regulations.  These fees will be deducted from your designated checking account.


13.  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.


14.  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.

15.  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 732-240-4500 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 STAR®, PLUS® or The Exchange® 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 STAR®, PLUS® or The Exchange® 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 STAR®, PLUS® or The Exchange® 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:

 

·         MAKE PURCHASES AT MERCHANTS ACCEPTING THE VISA DEBIT CARD

 

·         MAKE DEPOSITS TO YOUR CHECKING ACCOUNT (S)

 

·         MAKE DEPOSITS TO YOUR SAVINGS ACCOUNT (S)

 

·         MAKE CASH WITHDRAWALS FROM YOUR CHECKING OR SAVINGS ACCOUNT (S)


·         TRANSFER FUNDS FROM CHECKING TO SAVINGS


·         TRANSFER FUNDS FROM SAVINGS TO CHECKING


·         GET INFORMATION ABOUT:


         - THE ACCOUNT BALANCE OF YOUR

            CHECKING ACCOUNT (S)

         - THE ACCOUNT BALANCE OF YOUR

           SAVINGS ACCOUNT (S)