8/22/2018

Important details about your Savings Now account

Here we've laid out in plain language the legal terms of your Savings Now. It's long, but important, so give it a read.

Please note that the words "our," "us," "we," "Capital One," and "bank" refer to Capital One N.A. The words "you" and "your" refer to you and any account that you hold individually, jointly, or on behalf of another person.

SAVINGS NOW DISCLOSURE

Rate information: The interest rate and annual percentage yields are variable, meaning we can change them at any time.

Currently, standard rates are as follows:

Standard Interest Tier Structure: Below are the current non-promotional rates. At our discretion, we may change the interest rates on your account at any time.
Daily Collected Balance Range Interest Rate APY
$0.01 -  %
 -  %
 -  %
 and greater %


Interest compounding and crediting: Interest on your account will be compounded and credited on a monthly basis. If you close your account before interest is credited, you will receive the accrued interest.

Earning interest on deposits: When you make non-cash deposits—like checks—those funds will begin earning interest no later than the next business day after the banking day on which you deposited the funds. (Our business days are Monday through Friday, excluding holidays and any other day we are not open.)

For example, if you make a non-cash deposit on a Sunday, we will process it on Monday, and it'll begin earning interest no later than Tuesday.

When you deposit cash, it'll begin earning interest the day you deposit it.

Fees: This account is free of the pesky fees typically associated with bank accounts, but we do charge a fee for the following services:

  • There is a fee of $10 for any cashier's check that we generate at your request.
  • There is a fee of up to $30 for each outgoing domestic wire transfer that we process for you at your request. (NOT AVAILABLE YET)
  • A statement copy charge of $5 per statement will be charged for statements generated within the last 2 years.
  • When withdrawing money from a Non-Capital One ATM a $2 fee will be assessed per transaction.
  • When withdrawing money from an international ATM (Outside of the United States, U.S. Virgin Islands, and Puerto Rico) a $2 fee in addition to a 3% conversion fee, based on the total transaction amount, will be assessed.
  • The fee for expedited card delivery is $25
  • If you present us with a foreign check, we will not charge a fee, but the paying bank may deduct a fee from the proceeds.

Transaction Limitations: You may make an unlimited number of transfers or withdrawals via ATM or teller. Additionally, you may make unlimited payments towards Capital One loans.

However, federal law states that within a monthly service cycle, you may not exceed a combined total of 6 withdrawals or transfers using methods such as:

  • Checks or electronic payments (such as bill pay) to a third party
  • Overdraft protection transfers
  • Transfers to an account at another institution
  • Online banking or phone transfers between accounts

Please note that if you exceed this limit 3 times in 12 months, your account may be closed.

If any deposit causes the combined balance of all your accounts with us (including any jointly owned or jointly managed accounts) to exceed $5,000,000, we reserve the right to return it to the sender.

Withdrawals made from an ATM using a Savings Now ATM card are limited to $600 per day. You can lower this limit by calling us at 1-800-574-7360.

SAVINGS NOW AGREEMENT

Savings Now is available to United States citizens or lawful permanent residents with a U.S. physical address or with military addresses (APO or FPO) who are at least 18 years old with a valid Social Security Number.

Below are the terms and conditions that you automatically agree to when you have a Savings Now account.

Paperless communications: You must be a paperless customer, which means you'll need to agree to receive electronic delivery of all disclosures and other communications (like end-of-year tax forms and electronic statements), and maintain a valid email address.

Overdrafts: There is no option to overdraw your account—you may only withdraw money that is available in your account. Types of account ownership:

  • Individual Account. This type of account is owned by one person.

  • Joint Account. This type of account is owned by two 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). The owners of the account are considered to be "joint tenants" with right of survivorship. Any owner of the account may: (i) withdraw, transfer funds or close the account without the other owner's consent; (ii) pledge the account to us as collateral for a debt owed to us; and (iii) deposit checks payable to any joint owner. If one joint owner requests that we not pay items authorized by a different joint owner, we may restrict the account and refuse to pay all items (including items authorized by the owner making the request), but we are not required to do so. If we restrict the account, we may not release the restriction unless all joint owners agree in writing to remove it. No request to restrict the account will affect items that we paid before the request. If we decide not to restrict the account, all joint owners remain responsible for items subtracted from the account.

    We may also pay all or any part of the funds in the account to a court or government agency if we receive a garnishment, levy, or similar legal process that identifies any of the joint owners.

  • Living Trust (also known as inter-vivos trust) Account. This type of account is owned by a living trust. If the account is managed by multiple trustees ("Co-Trustees"), any Co-Trustee may: (i) withdraw or transfer the balance without the other Co-Trustee's consent; (ii) make deposits, close or pledge the account to us as collateral for a debt owed to us; and (iii) endorse and deposit checks payable to either Co-Trustee or the living trust. Each trustee understands and agrees that (s)he, and not Capital One, owes a fiduciary responsibility to the living trust and as such, shall manage the account in accordance with the terms of this agreement, the trust document(s) and any applicable laws. The obligations of Co-Trustees under this agreement are joint and several.

  • “Payable on Death” (POD). You may designate an individual or joint account to be payable upon your death to a designated beneficiary or beneficiaries. Only an individual may be designated as a beneficiary. POD accounts are also known as “In Trust For” (ITF)”, “As Trustee For” (ATF), “Transfer on Death” (TOD) or “Totten Trust” account and are governed by applicable state laws and regulations. You are solely responsible for meeting the requirements for establishing your account as a POD, including any titling requirements.

    During your life, the funds in the account belong to you and, until your death, or if there are co-owners, upon the death of the last co-owner, the beneficiary(ies) have no interest in the account and cannot perform transactions on the account. You may withdraw all or part of the account balance, close the account, remove or add POD beneficiaries or change the account type or ownership. Upon the death of all owners, we will distribute the then remaining funds to such of the beneficiaries as shall be then-living, in equal shares, subject to our right to charge the account for any amount a deceased owner, co-owner or POD beneficiary owes us; if any beneficiary is under the age of 18 years at the time he would be entitled to receive property under the terms of the previous provision, we will pay such person’s share to any person who is the statutory or court-appointed custodian for the benefit of such person.

Connecting accounts: If you have more than one eligible Capital One account, we will automatically "connect" those accounts so that when you log into your account through the website or mobile app, you can view summary information for each account all in one place.

Statements: As required by law, we'll provide you with a statement at least 4 times a year, both in print and online (though you may opt out of print statements). Your statement will list any payments or transfers made on your account. You agree to notify us promptly if you think there's an error or unauthorized transaction shown on your statement.

Things you tell us to do: We may refuse to follow any of your instructions if we think they are illegal or potentially harmful to us. If we follow your instructions, we may require other security measures to protect us from any losses we may suffer. You agree to pay us back for any damages or losses (including, but not limited to, the reasonable costs of an attorney) that we suffer if we take an action based on your (or what appears to be your) oral, written or electronic instructions.

If your address changes: You must notify us of any change of address by calling us, by using our secure website, or by visiting one of our locations. 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 (postal or electronic) address 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: 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. 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. We may monitor or record any conversation or other communication with you.

Closing an account: You can close your account at any time, for any reason. We can close your account at any time, for any reason, without advance notice.

State laws (called "escheat" or unclaimed property laws) require us to close all your deposit accounts and transfer your money to the state if your accounts are dormant for a period of time as defined by your state of residence. Your account can become dormant if, for 24 months, there is no transactional activity. Your account will remain dormant until funds are transferred to or from the dormant account. If all your accounts become dormant, you may no longer receive paper statements, but you can still view your accounts online.

State abandoned property law establishes guidelines under which unclaimed property must be surrendered to the applicable state. Generally, the funds in your account are considered unclaimed if you have not had any activity or communication with us regarding your account over a period of years, defined by your state of residence. All products are subject to abandoned property laws, including IRAs and CDs. If your funds are surrendered to the state, you may be able to reclaim them, but your claim may need to be presented to the state. 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, transacting periodically, contacting us, or replying to any abandoned property correspondence.

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
Mail 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


Availability Timeline for Deposits to Established Accounts

(Customers with checking or savings accounts open longer than 30 days)

When a deposit is made by... Those funds are available on...
Electronic direct deposits
Cash deposits at a Capital One ATM
Cash deposits made to a teller
Wire Transfers
The same business day
U.S. Treasury Checks
U.S. Government Checks
Capital One Bank check (written by a Capital One customer)
U.S. Postal Service Money Orders
Federal Reserve Bank Checks
Federal Home Loan Bank Checks
The next business day
State and local government checks
Cashier's, certified, and teller's checks
Traveler's Checks
If deposited at a teller, the next business day if you request it

If you do not deposit at a teller, generally the next business day. See below for exceptions
Other check deposits (for example, a check written to you by a customer of another bank) Generally, the next business day. See below for exceptions:


Note: Check types listed above must be made payable to you

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 our Capital One location, we will send you a notice.

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 past 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.

Foreign checks are handled as collection items only and are converted at our current daily rate and credited in U.S. dollars. Foreign checks sent for collection are exchanged at the exchange rate on the day of payment. All returned foreign checks will be charged back to your account at the rate used when initially credited and may be subject to a return fee and foreign bank charge (if applicable). Any payment(s) made to you from such items shall be provisionally credited to your account until we receive final payment from the foreign bank. Please note that while the foreign check collection process typically takes anywhere from four to six weeks, we have no control over the process once a check is sent for foreign collection. Accordingly, the process may take longer, depending on the foreign bank. You hereby waive notice of dishonor, nonpayment, or protest with respect to any items credited to or charged against your account.

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. For purposes of this deposit availability policy, you will be considered a new customer if you have not had a checking or savings account open for at least 30 days.

When a deposit is made by... Those funds are available on...
Electronic direct deposits
Cash deposits at a Capital One ATM
Cash deposits made to a teller
Wire Transfers
The same business day
U.S. Treasury Checks
U.S. Government Checks
Capital One Bank check (written by a Capital One customer)
U.S. Post Service Money Orders
Federal Reserve Bank Checks
Federal Home Loan Bank Checks
The next business day
State and local government checks
Cashier's, certified, and teller's checks
Traveler's Checks
If deposited at a teller, the next business day if you request it

If you do not deposit at a teller, the fourth business day
Other check deposits (for example, a check written to you by a customer of another bank) The fourth business day


Note: Check types listed above must be made payable to you

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. 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.

Mobile Deposit

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.

Advance Notice of Withdrawal: Under federal law, we must reserve the right to require you to give us at least 7 days' written notice before you take money out of your savings account. (This hardly ever happens but legally we have to say it!)

Assignment: No part of an account may be pledged, assigned, given as a gift, or otherwise transferred to a third party without our prior written consent.

How We Handle Items You Send Us: We won't be liable for checks or other items ("checks") that are lost in the mail or for any default or negligence by a bank we may use to collect your checks. When you send us checks to be deposited into your account, we act as your collection agent and assume no responsibility beyond the exercise of reasonable care.

Lien and Set-Off: Unless your account is an IRA account, by opening an account, you grant us a security interest (in other words, a "lien") in your deposit accounts with us. That means that at any time and without notice to you, we can use all or any part of the money from your individual or joint accounts to pay any amounts you owe us or any of our affiliates from time to time. (This is what's known as a "set-off"). Any set-off shall be a lawful and valid payment by you of amounts you owe us.

Change to/Waiver of Terms: We can add to, delete, or make any other changes we want to these terms at any time. You will be bound by the changes as soon as we implement them. We will provide advance notice of the change if the law requires us to do so. However, if applicable law requires us to make a change, you may not receive any prior notice. We can cancel, change, or add products, accounts, or services whenever we want. We can waive any of our rights under these terms whenever we want, but this doesn't mean that we'll waive the same rights in the future.

No Fiduciary Obligation: Capital One 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 account beyond reasonable care.

Governing Law and Regulations: Your accounts are 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 Laws"). If there's a conflict between these terms and the Applicable Laws, these terms will be changed to the extent necessary to comply with Applicable Laws. If any provision of these terms is determined by a court or administrative agency having proper jurisdiction to be invalid, unenforceable, or illegal, that determination will not affect the validity and enforceability of the remaining provisions of these terms.

Levies, Attachments, and Other Court Processes: If we receive a levy, attachment, or other court process against you or another owner of the account, we may refuse to permit withdrawals or transfers from your account until the legal action is dismissed or satisfied. Any levy, attachment, or other court process will be subject to our rights of lien and set-off (remember, we talked about these things earlier). You are responsible for any losses, costs, or expenses we incur as a result of any dispute or legal proceeding involving your account.

Claims Against Your Account: If we receive a claim against funds in your account, or if we know of or believe that there's a dispute over the ownership or control of funds in your account, we may, if we choose to, place a hold on your account. We can also refuse to pay out any of your funds until we're satisfied that the dispute is settled. We may also close the account and send the balance to the account holder(s) we have on record, decide to rely on our current account records, require a court order to act, or take any other action that we feel will protect us. We won't be liable to you for taking any such action.

Claim of Loss: If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss. Your cooperation may include, but not be limited to, providing us with an affidavit containing whatever reasonable information we require concerning your account, the transaction, and the circumstances surrounding the loss.

Death, Incapacity or Termination: If you die or are declared legally incompetent, we can continue to accept and process deposits to your account until we know about the death/incompetency/termination and have a reasonable chance to act.

Notices to You or Us: We shall deem any and all notices to us effective upon receipt by us. Any notice that we give to you will be effective when mailed or electronically transmitted to you at the mailing/email address reflected in our records. Even though we may have provided you account opening disclosures in a language other than English, we may continue to provide you with notices/communications in English. Notice to any one owner of an account constitutes notice to all owners of that account.

Jury Trial Waiver: All actions arising out of this agreement or concerning your account shall be heard by a judge sitting without a jury.

Events Beyond Our Control: We'll make all reasonable efforts to give you access to your accounts and accurate information. However, you agree that we're not responsible for any interruption in service or loss caused by things that are beyond our control, such as natural disasters, wars, riots, strikes, computer failures, or losses of power, communications or transportation facilities. We won't be responsible for any direct losses or damages resulting from use of the account, unless we were negligent or acted in bad faith. We're never responsible for any indirect, special, or consequential losses or damages.

Electronic Fund Transfers Disclosure Statement

The purpose of this disclosure statement is to inform you of your rights under the Electronic Fund Transfer Act. The electronic funds transfers (EFT) 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. In this disclosure statement, the words "you" or "your" refer to the depositor and any authorized user(s) of the account. The words "we," "us," "our," and "Capital One" refer to Capital One, N.A.

  1. ELECTRONIC FUND TRANSFER SERVICES. The EFT services that are available to you when you open certain accounts other than IRA accounts with us are as follows:

    1. Direct deposit of federal government payroll, disability, veteran's benefits, Social Security, and other federal government payments that you may receive and that may be deposited to your savings account, when available.
    2. Direct deposit of your paycheck to your savings account, provided that your employer offers direct deposit and you complete any forms required by your employer.
    3. Transfer funds between your eligible Capital One, N.A. accounts and between your external linked accounts and your Capital One accounts electronically or by calling our call center.
    4. Transfer funds from your Capital One accounts to make payments to your Capital One loan electronically or by calling our call center.
    5. Any other deposit to your savings account that is handled electronically, such as an automated clearing house (ACH) transaction.
    6. Cash Withdrawals: You can use your ATM card and PIN at ATMs to obtain cash withdrawals from your default account. Cash withdrawals may only be made from your default Savings account at ATMs. Each time you use your ATM card, we may place a hold on a corresponding amount of funds in your account until the transaction is posted against your account.
    7. Deposit cash and checks by using your ATM card that may be issued to you.

  2. CHARGES FOR ELECTRONIC TRANSACTIONS. We do not charge a fee for our electronic fund transfer services. We reserve the right to add charges at a later time and will notify you if we do so as required by law.

  3. ACCOUNT TRANSFER LIMITATIONS. You may only transfer funds out of your savings account(s) up to six (6) times per monthly statement cycle using any combination of our electronic fund transfer services. These transfer limitations are imposed to comply with federal law. You are not limited in the number of transfers that you may make into your savings account(s).

    In addition, there may be limits on the dollar amount of deposit and/or withdrawal transactions.

  4. RECORD OF TRANSACTIONS.

    1. Pre-authorized credits. If you have arranged to have direct deposits 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 1-800-574-7360, or access our website (www.capitalone.com/bank) to find out whether or not the deposit has been made.

    2. Periodic statements for all electronic fund transfers described in this disclosure. You will receive a monthly account statement showing the status of your account(s) and electronic transactions that you made during the past month. Unless you have a loan with Capital One, you may only receive a quarterly statement if no electronic transactions occur.

  5. HOW TO CONTACT US. If you believe your Password/PIN is no longer secure or confidential, or that someone has conducted or may conduct an electronic funds transfer without your permission, please contact us immediately by logging in at www.capitalone.com/bank or by calling or writing us at: Capital One, PO Box 60, St Cloud, MN 56302-0060, 1-800-574-7360.

  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 Password/PIN is no longer secure or confidential or may have been used without your permission. Telephoning us at 1-800-574-7360 is the best way of keeping your losses to a minimum. You may also notify us through our website (www.capitalone.com/bank).

    You could lose all the money in your account(s) if you take no action to notify us of the unauthorized transfer or the loss of security or confidentiality of your Password/PIN. If you notify us of the loss, your liability for unauthorized transfers will be as follows:

    1. If you tell us within two (2) business days that someone else used your Password/PIN without your permission, you could lose as much as $50.00. If you do NOT tell us within two (2) business days and we can prove that we could have prevented the loss had you contacted us, you could lose as much as $500.00.

    2. If your monthly statement shows transfers that you did not make and you do NOT contact us within sixty (60) days after the statement was mailed to you or first became available via electronic means if you elected to receive your statement electronically, 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 ELECTRONIC TRANSFERS. Telephone us at 1-800-574-7360, write to us at Capital One, PO Box 60, St Cloud, MN 56302-0060, or log into your account at www.capitalone.com and click on the transaction as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on a statement or receipt. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.

    You must provide us with the following information:

    1. Tell us your name and account number;

    2. 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

    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 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, we may take up to forty-five (45) days, or ninety (90) days for foreign-initiated transactions, or new accounts to investigate your complaint or question. If we decide to do this, we will credit your account within ten (10) business days for the amount you think is in error, so that you will have 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 credit your account. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

    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. We may provide you with the results of our investigation electronically if you have agreed to receive electronic communications from us. 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.

  8. PRE-AUTHORIZED PAYMENTS.

    1. 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 1-800-574-7360, writing us at Capital One, PO Box 60, St Cloud, MN 56302-0060, or logging in and sending us an electronic communication at our website (www.capitalone.com/bank). We must receive your stop payment request at least three (3) business days 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 us, we may require you to put your request in writing at the above address and to get it to us within fourteen (14) days after you call. If you do not, then your verbal request will expire after fourteen (14) days.

    2. Varying amounts. If these regular payments vary in amount, the person you are paying must tell you ten (10) days before each payment when it will be made and how much it will be. If you do not know this information, you may be unable to have the payment stopped without closing your account. (If we are required to provide this notice, you may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)

    3. Liability. 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 you failed 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 shall disclose information to third parties about your account or the transfers you make:

    1. Where it is necessary to complete transactions;
    2. To verify the existence and standing of your account with us upon the request of a third party, such as a credit bureau;
    3. In accordance with your written permission;
    4. To comply with court orders or government or administrative agency summonses, subpoenas, orders, examinations and escheat reports; and/or
    5. 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, we will be liable for damages proximately caused by our failure unless:

    1. There are insufficient funds in your account to complete the transaction through no fault of ours;
    2. The funds in your account are unavailable;
    3. The funds in your account are subject to legal process;
    4. We did not receive a direct deposit instruction;
    5. The failure is due to an equipment breakdown that you knew about before you began a transaction;
    6. 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;
    7. Your Password/PIN has been reported lost or stolen or and you are using the reported/suspended Password/PIN;
    8. We have reason to believe that the transaction requested is unauthorized;
    9. You attempt to complete a transaction which is not a permissible transaction listed above; or
    10. You did not provide us with the correct account information for those accounts to which you wished to direct a transfer.

    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.

  12. LIMITATION OF OUR LIABILITY. UNLESS OTHERWISE REQUIRED BY LAW, WE WILL NOT BE RESPONSIBLE FOR ANY LOSSES OR DAMAGES FROM THE USE OF THE SERVICES DESCRIBED IN THIS DISCLOSURE STATEMENT INCLUDING DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL LOSSES OR DAMAGES.


WIRE FUNDS TRANSFER DISCLOSURE STATEMENT


In this Wire Funds Transfer Disclosure Statement and Agreement (this "Agreement"), the words "you" and "your" mean a Total Control Checking, Confidence Savings, Savings Now, or Capital One 360 account owner, and the words "us," "we," and "our" mean Capital One, N.A. This Agreement defines your responsibilities and our responsibilities with respect to domestic transfers of funds from your account(s) with us for credit to an account at another financial institution or another account with us (“Funds Transfers”). You understand that, except as specifically modified by this Agreement, your account(s) will continue to be governed by the terms and conditions contained in other agreements and/or disclosures that you have been provided with in connection with your account(s), which are incorporated herein by reference. Unless otherwise defined herein, the terms used in this Agreement shall have the same meaning as set forth in Article 4A of the Uniform Commercial Code and, to the extent applicable, the Electronic Fund Transfer Act (EFTA) and its implementing regulations.

How to Make a Funds Transfer: To send a wire, log in to initiate a wire request (“Funds Transfer Request”) using our online wire form. If you are not able to initiate the online wire form, you can request a wire by contacting the Capital One Call Center and having the online wire option activated to initiate the wire process on our website. Our wire transfer service is intended to be used solely for Funds Transfers to confirmed linked checking accounts and title companies. We reserve the right to reject any Funds Transfer Request, including those not meeting the foregoing criteria. The dollar limit on wire transfers to a title company is $500,000.00 per day; some exceptions to this limit may apply. There's no daily dollar limit on wire transfers to your linked account. We may restrict the use of wire transfers for new accounts and newly added joint account holders.

Method Used to Make the Funds Transfer: We may select any means for the transmission of funds that we consider suitable, including but not limited to Fedwire. We may make use of correspondents, agents, subagents, and funds transfer and communication systems. Such third parties shall be deemed your agents, and we shall not be liable for any errors, delay, misdelivery, or failure of delivery by any of them unless applicable law says otherwise.

Cut-Off Times: We have cut-off hours for processing Funds Transfers. If a wire request is received by 2:00pm ET and verified through our security procedures outlined in the section below titled “Security Procedures,” funds will be processed the same business day. If it is received after 2:00pm ET and verified through our security procedures, funds may be processed the next business day. We may treat any Funds Transfer Request received at or after our cut-off time as if it was received that business day, or we may treat it as if it were received at the opening of the next business day.

Security Procedures: You agree and consent to the use of certain security procedures by us to confirm the validity of the Funds Transfer Request made pursuant to this Agreement. You understand the security procedures are not designed to detect errors in the content of the Funds Transfer Request or to prevent duplicate transfers. Some elements of the procedures will vary, depending upon the method used to initiate a Funds Transfer. You hereby agree that your utilization of any security procedure established hereunder shall constitute your agreement to its use and affirmative acknowledgment of its commercial reasonableness. You further agree that any Funds Transfer Request that is acted upon in good faith by us in compliance with these security procedures, whether or not in fact authorized by you, shall constitute an authorized Funds Transfer.

The following security procedures shall apply to this Agreement: Before accepting any such Funds Transfer Requests, we will: (1) perform verification on the individuals initiating the Funds Transfer Request that is designed to ensure they are the individuals previously authorized to initiate a Funds Transfer for the account in question; (2) apply fraud-related screens to the wire instructions; (3) contact you using information from your account records to verify the Funds Transfer for wires that are not initiated in person (this contact may be through a method different than the one you used to request the Funds Transfer (e.g., phone versus e-mail) or it may be through the same channel to obtain a password or other information that only you should have); and (4) request and receive any other proof of identification or any other documentation from you or your authorized representative, which we may, in our sole discretion, require under the circumstances.

Force Majeure: We will not be liable for our inability to perform our obligations under this Agreement when such inability arises out of causes beyond our control, including but not limited to, any act of God, accident, labor disputes, power failures, system failure, equipment malfunction, suspension of payment by another bank, refusal or delay by another bank to accept the funds transfer, war, emergency conditions, fire, earthquake, or the failure of any third party to provide any electronic or telecommunication service used in connection with the execution or cancellation of a Funds Transfer.

Inconsistency of Name and Account Number: You acknowledge and agree that when you (or your authorized representative) provide us with a name and account number in order for us to process a Funds Transfer, payment may be made by the beneficiary's/designated recipient's bank solely on the basis of the account number, even if the account number identifies a person different from the beneficiary so named. We or an intermediary bank may send a Funds Transfer to an intermediary bank or beneficiary's/designated recipient's bank based solely on the bank identifying number, even if the payment order indicates a different name. We may rely on all information contained in the Funds Transfer Request, regardless of who may have provided the information. You further agree that your obligation to pay the amount of a Funds Transfer to us is not excused in such circumstances. Except as provided by applicable law, any losses resulting from an incorrect account number or your misidentification of the beneficiary/designated recipient is your responsibility and not ours.

Acceptance and Execution of Request by Capital One: A Funds Transfer Request is considered accepted by us when we execute it. Please refer to the “Cut-Off Times” section for more details. You can verify whether your Funds Transfer Request has been executed by calling us at 1-888-464-0727.

Payment to Capital One: You must pay us the amount of the Funds Transfer, plus any applicable fees, before we will execute the Funds Transfer Request. Please contact the Call Center for fees applicable to Funds Transfers and any other related pre-payment disclosures.

Rejection of Funds Transfer: We have no responsibility to accept any incoming Funds Transfer(s) for your benefit. Likewise, we have a right to reject any Funds Transfer Request(s) for an outgoing Funds Transfer for reasons including, but not limited to, insufficient or uncollected funds in the account specified in the Funds Transfer Request, a request that fails the security procedures outlined in the section on Security Procedures, our inability to execute the Funds Transfer for the reasons set out in the section of this agreement entitled Method Used to Make the Funds Transfer above, or if we are unable to verify the authenticity of the Funds Transfer Request. If we stop a domestic outgoing Funds Transfer, we will refund the fee.

Notice of Funds Transfer Not Executed: If we determine, in our sole discretion, not to honor, execute, or accept a Funds Transfer Request, we will endeavor to notify you, but we shall have no liability for delay or failure to do so. We will also endeavor to notify you promptly if a Funds Transfer is returned to us after its execution but shall have no liability by reason of our delay or failure to do so. We shall have no obligation to resend a Funds Transfer if we complied with the original Funds Transfer Request and such Funds Transfer was returned to us.

Cancellation or Amendment of Funds Transfer: Once we receive a Funds Transfer Request, it may not be able to be canceled or amended. However, at our discretion, we may use reasonable efforts to act on any request for cancellation or amendment, provided that the method by which we are notified of a request for cancellation or amendment complies with our security procedures. However, we shall have no liability if such cancellation or amendment is not effected. You agree to indemnify and hold us harmless from any and all liabilities, claims, damages, costs, and expenses we may incur in attempting to cancel or amend the Funds Transfer. Any cancellation or amendment of a Funds Transfer by us shall relieve us of any obligation to act on the original Funds Transfer Request.

Account Statements: Except as provided by applicable law, you agree that we are not required to provide you with a separate notice of incoming or outgoing Funds Transfer. All Funds Transfers will be reflected on your periodic bank statement. You should review your statement for any discrepancies, unauthorized transactions, or errors in connection with any Funds Transfers. Except as otherwise provided herein, if you think a Funds Transfer is wrong or if you need more information about a Funds Transfer, you must contact us in writing upon discovery of the error or within fourteen (14) days from the date your statement is postmarked or otherwise made available to you, whichever is earlier. Failure to do so will relieve us of any obligation to pay interest on the amount of an unauthorized or erroneous Funds Transfer for which we are liable. Furthermore, you will also be liable to us for any damages or losses we may incur as a result of your failure to notify us within the time period stated in this section.

Change in Authorized Representative: Any changes in the authority of persons authorized to make a Funds Transfer on your behalf shall not be binding upon us until we have received written notice from you. The notice must be in a form acceptable to us and be given within a reasonable period of time for us to act upon the change.

Duty of Reasonable Care: We shall exercise good faith and reasonable care in processing Funds Transfer Requests. You shall similarly exercise good faith and reasonable care in observing and maintaining security procedures, in communicating Funds Transfer Requests to us, and in reviewing periodic bank statements for any discrepancies.

Liability of Capital One: We shall be responsible only for performing the Funds Transfer Service expressly provided for in this Agreement; provided however, we shall be liable only for our own gross negligence or willful misconduct in performing such service. We shall not be liable to any third party or for any act or omission of yours or any third party, including, but not limited to, third parties used by us in executing a Funds Transfer or performing a related act and no such third party shall be deemed to be our agent. IN NO EVENT SHALL WE BE LIABLE FOR ANY DAMAGES OF ANY KIND INCLUDING WITHOUT LIMITATION DIRECT, INDIRECT, PUNITIVE, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, LOSSES OR EXPENSES ARISING OUT OF OR IN CONNECTION WITH THE FUNDS TRANSFER SERVICE, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SAME. Except as otherwise provided by applicable law, the maximum period for which we shall be liable for interest on any amount to be refunded or paid to you with respect to an unauthorized, erroneous, or other Funds Transfer Request is thirty days.

Interest Compensation: In the event we are liable to you for interest compensation under this Agreement, or applicable law, interest shall be calculated at the average of the federal funds rate published by the Federal Reserve Bank for the period involved; or at such other rate that we may agree to, in writing, from time to time.

Liability of the Customer: Except as otherwise provided by law, you shall be liable for any loss or damage to which your negligence contributed or which resulted in unauthorized, fraudulent, or dishonest acts by your current and/or former authorized representatives. Such liability includes instances when a current or former authorized representative effects one or more Funds Transfers or improper use of telephone security procedures to effect a Funds Transfer to your detriment.

Compliance with Anti-Money Laundering and Exchange Control Regulations and OFAC Enforced Sanctions:

  • You covenant with us to observe all Anti-Money Laundering and Exchange Control laws and regulations including economic and trade sanctions promulgated by the Office of Foreign Assets Control of the U.S. Department of Treasury in relation to any Funds Transfer, and you will use all reasonable endeavors to assist us to do likewise. In particular, you covenant that the information given to us by you is accurate. We may disclose any information given to us that we in our sole discretion think necessary or desirable to disclose; except we will only disclose confidential information if required by law, a court, or legal, regulatory, or governmental authority, or as permitted by law in order to combat, prevent, or investigate issues arising under anti-money laundering laws, economic sanctions, or criminal law.

  • Sometimes legal, regulatory, or governmental authorities require additional information, either in respect of individuals, entities, or particular transactions. You agree to promptly supply all such information, which any such authority may require, and/or which we may be required to supply, in relation to the individual, entity, or particular transaction.

  • If you, or your authorized representative, breach any such laws or regulations, you irrevocably agree that we may retain any monies or funds transmitted to us pursuant to this Agreement and/or not fulfill any Funds Transfer Request if we are required to take or refrain from such action by any legal, regulatory, or governmental authority or if we reasonably believe that such action may violate any laws or regulations described herein, and such monies shall not bear interest against us. You further agree that we may pay such monies to the appropriate legal, regulatory, or governmental authority, if and when required by law.

Indemnification: In consideration of Capital One agreeing to accept Funds Transfer Requests in the manner set forth herein, you shall forever indemnify and hold Capital One, its officers, directors, shareholders, employees, successors, predecessors, representatives, principals, agents, assigns, parents, subsidiaries and/or insurers harmless from and against all liability, claims, damages, costs, claims, or expenses (including reasonable attorneys' fees) that we may incur without regard to the merit or lack thereof, arising out of, or related in any way to the matters set forth herein, or to the Funds Transfer Service, which shall be provided pursuant to the terms of this Agreement. Your agreement to indemnify us and hold us harmless shall survive the expiration and/or termination of this Agreement and all provisions contained herein.

Recording of Communication: You agree that all telephone conversations made in connection with the Agreement may be recorded and retained by us.

Termination of Agreement: We may terminate the right to make Funds Transfers at any time or amend or change the terms of this Agreement or cancel this Agreement without advance notice to you.

Agreement Controls: Both you and Capital One will be bound by this Agreement. If there is a conflict between this Agreement and something said by one of our employees, you agree that this Agreement controls. This Agreement and the terms of the Account Agreement(s) related to your deposit accounts, which are incorporated herein by reference, constitute the entire Agreement between you and us regarding your use of the Funds Transfer Service. If any inconsistency exists between the account disclosure statements and agreement(s) and this Agreement, then the terms of this Agreement shall control. No representation or statement not expressly contained in this Agreement or in any amendment hereto shall be binding upon you or us.

Governing Law: All actions arising out of or concerning the Funds Transfer Service or these terms and conditions shall be heard by a judge sitting without a jury. In any such action, Capital One shall be entitled to its reasonable attorneys' fees. The Funds Transfer Service and these terms and conditions shall be governed by the internal laws of the State of Delaware without regard to its conflicts of rules and the laws of the United States.

Severability: In the event that any court or tribunal of competent jurisdiction determines that any provision of the Agreement is illegal, invalid, or unenforceable, the remainder of this Agreement shall not be affected thereby.

PRIVACY POLICY

Rev. 07/2017
BR402832
RV600273
M-122663

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.


What?

The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security number and income
  • Account balances and payment history
  • Account transactions and credit card or other debt

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

  • Call us toll free at 1-888-817-2970 and one of our representatives will update your privacy choices.

Please note: If you are new customer, we can begin sharing your information 30 days from the date we sent this notice. If you’re an existing customer and have opted out previously, you don’t need to update your privacy choices again. 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/contact

Who we are

Who is providing this notice?

Our affiliates include financial companies with the Capital One, Chevy Chase, Onyx, Paribus, 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

  • Open an account or deposit money
  • Pay your bills or apply for a loan
  • Use your credit or debit card

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can't I limit all sharing?

Federal law gives you the right to limit only

  • Sharing for affiliates' everyday business purposes – information about your creditworthiness
  • Affiliates from using your information to market to you
  • Sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account.

Definitions

Affiliates

Companies related by common ownership or control. They can be financial and nonfinancial companies.

  • 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.

Nonaffiliates

Companies not related by common ownership or control. They can be financial and nonfinancial companies.

  • Nonaffiliates we share with can include insurance companies, service providers, co-branded partners, retailers, data processors, and advertisers.

Joint marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Our joint marketing partners include companies such as other banks and insurance companies.
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 webinfo@capitalone.com. 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.

© Capital One. Capital One is a federally registered service trademark. All rights reserved.

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. Welcome to Capital One.

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