Frequently Asked Questions

A digital wallet is a payment app on your smartphone or mobile device that carries your debit or credit card information securely in an encrypted digital form.  When making purchases with a digital wallet, there is no need to use a physical card, or even to touch the payment terminal at checkout.  Popular digital wallet apps include Apple Pay®, Google Pay® and Samsung Pay®.

• To get started, find and open the digital wallet app on your phone or other mobile device, and follow the steps to enroll your Burke & Herbert Bank Visa® Debit Card or Business Visa® Debit Card, along with your Burke & Herbert Bank credit card.
• Purchases are made at any payment terminal displaying a Contactless Symbol, by holding the phone near the terminal and confirming the purchase with your fingerprint or facial recognition on your device.

Yes.  You can enroll your Burke & Herbert Bank debit card in all of these digital wallet apps.

No.  There is no fee to use a digital wallet service.

Yes.  You can enroll your Burke & Herbert Bank credit card in all of these digital wallet apps.

Yes, for the protection of our customers and the Bank, there is a daily limit on ATM withdrawals.  The withdrawal limit associated with your Card is provided in the materials that come with the Card sent to you by mail.  The same is true for purchase limits.  There is a daily limit on the total dollar amount of purchases you may complete using your Card.  This limit also is provided in the materials that come with your Card.  If you have a question about your limits or wish to request a change in your limits, please call us at 1-855-571-5824 or stop by any branch.

Yes.  You can request an increase to the purchase limit on your Debit Card at any branch, or by calling us at 1-855-571-5824.   

• If your Burke & Herbert Bank Visa® Debit Card has been lost or stolen, it is important to notify us immediately by calling 1-855-571-5824 or 1-888-297-3416.  Or, please visit your local Burke & Herbert Bank branch.
• If your Burke & Herbert Bank credit card has been lost or stolen, please call 1-800-883-0131.

You can change the PIN on your Burke & Herbert Bank Visa® Debit Card by calling our Automated Telephone Banking Service at 1-800-290-7893, or by visiting any branch during business hours.

Be on the lookout for your new Burke & Herbert Bank Visa® Debit Card in the mail within the first two weeks of the month in which your Card is set to expire.

To enroll in Digital Banking, you will need your Burke & Herbert Bank account number, your Social Security Number (SSN) or Tax Identification Number (TIN), and the email address that you have on file with us.  Then, choose the “Sign Me Up” button on the Bank’s website and complete the enrollment form.  You will receive a verification email to complete the secure sign-up process.

Please call us at 1-855-571-5824 for assistance.

To sign-up for eStatements, you must be enrolled in Digital Banking.  Once you are logged in to Digital Banking, select the eStatements tab and follow the easy steps to enroll your accounts. Once enrolled, you will begin receiving your account statements online and stop receiving paper statements in the mail.  

You will be notified via email when your eStatement is ready and will have access to your eStatement when you log in to Digital Banking as soon as your statement period ends each month.

You will have access to up to 18 months of statement history within Digital Banking.  History will begin accumulating once you have enrolled.

To access your accounts via a smartphone or tablet, simply download the Burke & Herbert Bank Mobile Banking app for iPhone®, iPad®, or Android™ onto your mobile device.  Log in using your Digital Banking user ID and password.

You can deposit checks into your account easily, using the Burke & Herbert Bank Mobile Banking App.  First, endorse (sign) the back of the check and write “For Mobile Deposit – Burke & Herbert Bank.” Then, using the Mobile Banking app, take a picture of the front and back of the check, select your “deposit to” account, enter the check amount, submit, and you’re done.

Yes.  Daily and monthly deposit limits apply.  To view your limits, tap on the Information icon within the Deposits section of the Mobile Banking app. Our standard limits are $5,000 per day and $10,000 per month for personal banking customers; $10,000 per day and $25,000 per month for business banking customers.

Yes.  You can request an increase to your mobile banking deposit limits by visiting any branch location, or calling 1-855-571-5824.

To endorse a check that you want to deposit by phone, sign the back of the check and write “For Mobile Deposit – Burke & Herbert Bank.” You will receive email verification that your deposit has been accepted.  Retain the check for 10 business days at which time the check can be shredded.

Yes.  You can transfer funds from and to your accounts at Burke & Herbert Bank and your accounts at other banks using the Bank-to-Bank transfer feature in Digital Banking.  Select “Bank-to-Bank transfer” from the Digital Banking menu and follow the prompts to enroll your non-Burke & Herbert Bank accounts and then initiate your transfers.  Once your accounts are enrolled through Digital Banking, you may initiate Bank-to-Bank transfers through the mobile app as well.  

You may submit up to five inbound transfers totaling $1,000 per day and five outbound transfers totaling $1,000 per day. You also may set up recurring or future-dated transfers. Recurring transfers will count towards your totals on the day that the transfer is scheduled to occur.

Make Person-to-Person (P2P) payments using Digital Banking.  Once you are logged in to Digital Banking, simply select the “Pay a Person” option under “Payments” and follow the steps.  The recipient of your payment will be prompted to accept your payment by email or text.  Payees set up for P2P payments in Digital Banking will be available to you via Mobile Banking as well.

If your employer offers direct deposit for paychecks, ask your employer for a direct deposit form for you to complete.  Return the completed form to your employer along with a blank, voided Burke & Herbert Bank check or deposit slip. 

Yes.  When you complete your direct deposit request, include the account numbers and dollar amounts (or percentages) that you would like deposited into each account on an ongoing basis.  If you already have direct deposit and would like to make changes to the account(s) receiving funds, contact your employer about making an adjustment. 

To open a new personal account, you will need:

• A valid, not-expired photo ID such as a state driver’s license, U.S. Government-issued passport, military identification, or Alien Registration Card (Green Card)
• Documentation of your current address if it is not on your primary form of identification
• Social Security Number or Tax Identification Number
• Funds to open the account

Depending on the type of business, documentation required may include a current business license, articles of incorporation, certificate of good standing, and other items.  Please call us at 1-855-571-5824 or visit any branch for further information.

Your new debit card will be issued instantly in the branch at the same time that you open your new account. 

You can apply for a Burke & Herbert Bank credit card at any branch, or online.

A secured credit card is a card that is backed by a cash security deposit.  Once approved for a secured credit card, you will provide a security deposit of $300 – $5,000.  The amount of the security deposit is the card’s credit limit.  If used responsibly, you may become eligible for an upgrade to an unsecured card in as little 13 months.  Secured credit cards are a popular choice for consumers looking to build or rebuild credit.

You may browse the online catalog and redeem your Burke & Herbert Bank credit card reward points online at opens in a new windowcrewardscard.com.

You can access your Burke & Herbert Bank credit card account online at opens in a new windowMyCardStatement.com.

The toll-free number for credit card customer service is 1-800-883-0131.  Outside the U.S., call 813-868-2891.  Open 24 hours a day, 7 days a week.

Please write to us if you believe there has been an error in the servicing of your loan or to request additional information. You must submit your notice of error or request for servicing information to the following address:

Burke & Herbert Bank & Trust Company
Attn: Operations Support & Delivery Department
PO Box 179
Moorefield, WV 26836

Please be sure to include on your written request your name, account number, and a detail description of the error or detail list of information being requested.

We will promptly acknowledge your request, investigate, and correct any errors which occurred. We will also provide you with written notification explaining the outcome of our investigation. If you fail to use the designated address, you may not receive a timely response or any response.

For a fixed-rate mortgage, the interest rate is set when you take out the loan, and will not change.  For an adjustable-rate mortgage (often called an “ARM”), the interest can go up or down periodically.  The adjustment period, and any caps or floors on future adjustments, will be detailed in your loan documents.

Points, also called discount points, are a type of prepaid interest or fee that a borrower can choose when applying for a mortgage loan.  By paying points up front, the borrower can lower the interest rate that will be in effect over the life of the loan.  One point equals 1% of the mortgage loan amount.  Depending on the borrower, each point paid up front can lower the interest rate by one eighth to one quarter of a percent.

Earnest money is a deposit made by a home buyer as a sign of good faith. The deposit is typically made when a purchase agreement is signed, and counts toward the down payment.

While down payments often range between 5% and 20% of the sales price, some mortgage programs may permit down payments as low as 3%, or even 0% in the case of some VA loans (which are loans backed by the Department of Veterans Affairs).  The size of a down payment depends on many factors, including the type of mortgage loan and your credit history. 

A down payment is the amount of cash you pay toward the purchase of your home, to make up the difference between the home’s purchase price and the amount of your mortgage loan.

Closing costs are fees that are charged by third parties when a home sale occurs.  They include such items as home inspection, credit report, attorney’s fees, etc.  On average, closing costs amount to 3% of a home’s sale price.   Some of these fees (like a home inspection) may be paid before the actual closing date. 

In addition to closing costs, home buyers should expect to pay homeowners insurance, title insurance and property taxes. 

Within three (3) days of receiving a completed mortgage application, lenders are required to provide borrowers a Loan Estimate, which includes an itemized, detailed list of estimated costs associated with a home loan. 

For conventional loans, private mortgage insurance protects the lender if you default on your loan.  If your down payment is less than 20%, most lenders will require you to pay mortgage insurance.

PITI is an acronym for principal, interest, taxes, and insurance, and is the monthly housing expense that a borrower will pay.

The APR represents the annual cost of a loan to a borrower, and is expressed as a percentage.  Unlike a loan’s interest rate, the APR reflects the total cost of the loan, because it factors in other charges such as mortgage insurance, closing costs, and any loan origination fees and discount points paid.  The Federal Truth in Lending Act requires that every consumer loan agreement disclose the APR.  Borrowers can use the APR as a good basis for comparing the costs of similar loans.

A finance charge expresses the cost of credit as a dollar amount.  It includes the amount of interest paid during the term of the loan, plus points and other items.

When referring to adjustable rate mortgage loans, an index is a rate used by a lender as a basis for setting an interest rate at the beginning of each adjustment period.  Generally, the index plus or minus a margin equals the new rate that will be charged, subject to any interest rate caps.  Lenders use a variety of financial index rates, such as the London Interbank Offer Rate (LIBOR), Wall Street Journal Prime Rate, and US Treasury Bills, among others. 

The margin equals the number of percentage points that a lender will add to or subtract from an index rate to determine the interest rate to charge on a loan. While an index may rise and fall over the life of a loan, the margin remains constant and is specified on loan documents.

A conforming loan is mortgage whose size is equal to or less than the dollar limit set by the Federal Housing Finance Agency, and whose terms meet the funding criteria set by Fannie Mae and Freddie Mac.  In the Washington DC region, the dollar limit is currently $1,149,825.

Also called a non-conforming loan, a jumbo mortgage exceeds standards that would make it eligible for sale to Fannie Mae and Freddie Mac.  Jumbo mortgages typically have higher rates and additional restrictions due to the large loan amounts.

An appraisal is an informed estimate of a property’s current market value, performed by a professional appraiser.  

The assessed value of a property is established by a public tax assessor and used to determine property taxes.

Amortization is the gradual reduction in the principal amount owed on a debt as loan payments are made. Early in a loan term, most of each payment is applied toward the interest owed. During the final years of the loan, payment amounts are applied almost exclusively to the remaining principal.

Pre-qualification is the process of a potential borrower providing financial and other information to a lender, so that the lender can estimate how much the borrower can borrow to purchase a home. A pre-qualification is not a commitment to lend.

Underwriting is the lender’s process of analyzing and determining whether or not to make a loan.  An underwriter considers a potential borrower’s credit, employment, assets and other factors, and determines a loan amount and terms based on those criteria. 

Refinancing a loan means getting a new loan to pay off an existing loan.  Home owners generally refinance to take advantage of lower interest rates and lower monthly payments. A “cash-out” refinance occurs when the new loan amount exceeds the amount of the previous loan, and the borrower takes the excess in cash to be used for another purpose.

Your home’s loan-to-value ratio is the unpaid balance on your mortgage divided by the market value of your home. LTV ratios are expressed as a percentage.  For example, if you have a $300,000 mortgage and your home’s value is $400,000, the LTV is 75% ($300,000 / $400,000 = 75%).

Forbearance is a period of time, granted by a lender, during which monthly loan payments are temporarily reduced or suspended due to certain types of financial hardships.  During forbearance, principal payments are postponed, but interest continues to accrue on the loan.

Foreclosure is a legal procedure that occurs when a borrower has defaulted on a mortgage loan, and the lender sells the property to recoup the cost of the loan.  If the amount received at the foreclosure is not enough to fully repay the loan, the original borrower may continue to owe the lender the difference.