Financial Learning Center
Frequently Asked Questions
What is Overdraft Service?
Overdraft service provided to checking account customers recognizes that occasional mistakes happen and there may be times when the available balance in your account is not enough to cover checks you have written or other transactions that you need to make. With overdraft service in place, the Bank may authorize and pay transactions, up to an overdraft limit, even if they cause your account to become overdrawn. Overdraft service helps prevent checks from being returned unpaid and can prevent other transactions such as automated payments from being declined. An overdraft fee of $25 applies to transactions that result in a negative account balance. This service is available to qualified personal checking account customers. Customers who wish to "opt-out" of this service may do so.
With your permission, overdraft service also can be applied to ATM and everyday debit card transactions that you make with your Burke & Herbert Bank Visa® Debit Card. Having overdraft service on Card transactions provides you with the convenience of being able to complete your desired transactions and helps you avoid the embarrassment of having a transaction declined. Again, the normal overdraft fee of $25 applies to transactions that result in a negative account balance.
Please note that if your account becomes overdrawn you will need to make a deposit to cover the overdraft within 35 days; overdraft service will be removed from your account if your account balance remains negative for more than 35 consecutive days.
What is the difference between Overdraft Service and Overdraft Protection?
With overdraft service, the Bank may authorize and pay transactions for customers even if those transactions result in a negative account balance. An overdraft fee of $25 per item applies to each transaction that we authorize or pay that causes an account to become overdrawn.
With overdraft protection attached to your checking account, you can avoid overdrafts (and associated overdraft fees) altogether. Burke & Herbert Bank offers two types of overdraft protection: automated overdraft protection transfer service from a linked savings, money market, or other checking account and a personal line of credit (subject to credit approval) that may be attached to checking.
When you have either of these two overdraft protection features in place, funds are transferred from the attached account/line to checking when necessary to prevent items from being returned unpaid and prevent your checking account balance from becoming overdrawn. A fee of $2.00 applies to overdraft protection transfers made from a linked savings, money market, or other checking account. Finance charges apply to outstanding line of credit balances.
Why should I agree to have Overdraft Service on ATM and everyday debit card transactions?
The benefit of having overdraft service on ATM and everyday debit card transactions is that even if you do not have enough money in your account when you are attempting to make an ATM withdrawal or pay for a purchase with your Visa® Debit Card we may authorize the transaction anyway and allow you to overdraw your account. You may appreciate the ability to get the cash you need or complete your purchase and you avoid the potential embarrassment of having your transaction declined.
What are Burke & Herbert Bank's overdraft fees?
Each time we allow a transaction resulting in an overdraft, an overdraft fee of $25 applies. However, we will not apply more than 6 fees per day for overdrawing your account. We also will not assess a fee for items that cause an overdrawn balance of $10 or less.
Burke & Herbert Bank Rewards Program
What is the Burke & Herbert Bank Rewards program?
The Burke & Herbert Bank Rewards program is one of the terrific benefits of the Burke & Herbert Bank Visa® Debit Card which, of course, comes with both of our checking accounts. When you enroll your Card in the Rewards program and use your Card to pay for purchases at any merchant that accepts Visa® debit cards, you will earn reward points that then can be converted to cash, gift cards, merchandise, and more. It's a great way to make everyday spending more rewarding.
Plus, you can take advantage of special offers and additional savings when you show your Card at local merchants participating in our Rewards program. Click here for a complete listing of participating merchants and their special offers and look for the "Burke & Herbert Bank Rewards" signs that they display. Over 200 local merchants participate and the list is getting longer all the time.
How do I enroll in Burke & Herbert Bank Rewards?
Enrolling your Burke & Herbert Bank Visa® Debit Card in the Rewards program is easy. All you need to do is visit the "Visa Extras" site, our sponsor for this program. Simply have your Card number handy and follow the simple steps to enroll. When you enroll, you will select a user name and password that you will use each time you return to the site.
How do I earn points?
Simply use your enrolled Burke & Herbert Bank Visa® Debit Card to pay for purchases everywhere Visa® debit cards are accepted. You will be awarded 1 point for every dollar spent in qualifying purchases up to $4,000 in a 12-month period and 2 points thereafter. Purchase amounts, including tax, are rounded to the nearest whole dollar amount to determine the number of points.
What is considered a "qualifying" purchase?
Qualifying purchases include:
• purchases that you sign for
• Internet purchases
• phone and mail order purchases
• purchases you make without using your Personal Identification Number (PIN)
Qualifying purchases made with Cards enrolled in the Burke & Herbert Bank Rewards program earn points.
How do I know how many points I have earned?
Points that you have earned are applied to your "Rewards account" and available for you to view online. To access this information, you will use the User ID and Password created when you enrolled your Card. You may click here to visit the Visa Extras® site to access your Rewards account.
What types of rewards can I get with the points that I accumulate?
Your points can be redeemed for a wide variety of items from an extensive online catalog. Rewards include gift cards to a host of well-known stores and restaurants, merchandise, travel and dining certificates, cash and more. Be sure to check out the terrific items available by browsing the online catalog at the Visa Extras® site.
How many points do I need to have to be able to redeem them for a reward?
Point redemption starts at just 2,000 points. You can choose to redeem a small number of points for smaller rewards or accumulate a lot of points and redeem them for bigger items.
How do I redeem my points for rewards?
It is easy to redeem your points for rewards online. Redeeming points is similar to shopping online. Simply log in to your Rewards account at the Visa Extras site and select your reward(s) from the online catalog. Reward items that you select will be delivered to you at your address.
Will my points ever expire?
Points will expire if they are not redeemed after 36 months.
Can reward points from multiple cards be combined?
Points are associated with individual Cards, including Cards issued on a joint account. Points earned with different Visa Debit Cards cannot be combined for the purposes of point redemption.
What happens to my points if my card is lost or stolen and needs to be reissued?
Points that you have accumulated with your old Card will be transferred to your new Card account.
Is the Burke & Herbert Bank Rewards program different than the Runyon Rewards program?
The program formerly known as "Runyon Rewards" has been included in the new Burke & Herbert Bank Rewards program. Local merchants participating in Runyon Rewards are now automatically participating in Burke & Herbert Bank Rewards and still providing a variety of great discounts and special offers. To take advantage of these discounts and offers from local participating merchants, all you need to do is show your Burke & Herbert Bank Visa® Debit Card. And, when your Card is enrolled in our Rewards program and you use it to pay for your purchase, you'll earn points too! So, the Burke & Herbert Bank Rewards program has two great benefits: exclusive discounts and offers at local merchants when you show your Card, and points that can be redeemed for rewards when you use your Card to pay for purchases at merchants that accept Visa® debit worldwide.
How do I know what local merchants are participating in the Burke & Herbert Bank Rewards program?
There are more than 200 participating merchants in the local area. In addition, participating merchants display "Burke & Herbert Bank Rewards" signs at their locations.
I have a "Runyon Rewards" Card. Do I still need to use this Card to get discounts and offers from merchants in the local area?
You will be able to take advantage of the special discounts and offers provided by Burke & Herbert Bank Rewards program participants (formerly Runyon Rewards program participants) simply by showing your Burke & Herbert Bank Visa® Debit Card. Participating merchants will continue to accept "Runyon Rewards" cards for some time as we transition to the new program and name.
I have a Burke & Herbert Bank Business VISA® Debit Card. May I enroll this Card in the Rewards program?
Yes. You can enroll your Business Visa® Debit Card in the Burke & Herbert Bank Rewards program and earn points that can be redeemed for a variety of rewards when you use your Card to make qualifying purchases. It's a great way to make everyday spending for office supplies, travel, etc. for your business more rewarding. Click here to enroll.