Frequently Asked Questions

General Banking Questions

How do I find a Burke & Herbert Bank branch or ATM?

To find a nearby Burke & Herbert Bank branch or ATM, please use our convenient branch locator

When are your branches open?

Our branches offer lobby banking services from 9 am to 4 pm Monday through Friday and on Saturdays from 9 am to 12 noon.  Temporary changes to hours may be required at times. To check current hours of operation at a specific branch, please use our branch locator

How and when can I contact the Bank for customer service?

Please call us at 703-684-1655 (or 1-855-571-5824) if you have any questions or need any assistance with your accounts or services.  Our customer service representatives are available Monday through Friday from 8 am to 7 pm and on Saturday from 8 am to 5 pm. (We are closed on federal holidays.)  

24-Hour Automated Telephone Banking service is available by calling 703-751-7701 or 1-877-440-0800

You also may contact us via email: info@burkeandherbertbank.comcreate new email or use the secure messaging feature available in Burke & Herbert Bank Online Banking.

How do I order new checks?

You can re-order checks for an existing Burke & Herbert Bank checking account online opens in a new windowhere, as well as at any branch.

What is Burke & Herbert Bank’s routing number?

Our routing number is 056001066.

What is the difference between “available” balance and “current” balance?
  • Your current balance is the amount of money in your account right now, but you may have authorized some of those funds to be paid out (e.g. via a debit card or online banking transaction) so there is a hold on those funds, even though they haven’t yet been withdrawn.
  • Your available balance is the amount of money in your account that is available for withdrawal, net of any holds.  
What does a “hold” on a deposit mean?

A hold is a period of time that a bank is allowed to wait before releasing funds from a deposited check for withdrawal.  This is to allow sufficient time for the Bank to receive the funds from the check you deposited. The amount of time that a bank may hold a check is regulated by the United States Federal Reserve, under Regulation CC.  Banks are required by law to disclose their check hold policies.  Burke & Herbert Bank’s policy for check holds is available opens in a new windowhereopens PDF file .

What are your business days for banking transactions?

Burke & Herbert Bank’s business days are Monday through Friday, excluding any federal holidays.  Transactions initiated in a branch on Saturday will be considered completed on Monday’s business day (or the following day if Monday is a holiday). Business days and holidays for the current year are available here.

What are your interest rates?

Burke & Herbert Bank’s current rates on checking, savings and money market accounts and certificates of deposit are available here.  For rates on mortgage and other loan products, please call us at 703-684-1655 or visit any branch and ask to speak with a Loan Officer.

Where can I find my account number?

Your account number is visible on your monthly statement or eStatement, and for checking accounts, is printed on your checks.  If you need further assistance, please call us at 703-684-1655 or visit any branch.

Do you offer notary services?

Yes.  Burke & Herbert Bank branches have team members who can provide notary services to Burke & Herbert Bank customers. We recommend that you call ahead to be sure that the certified notary will be at the branch when you plan to visit. There is no cost to customers for this service.

Do you offer medallion signature guarantee services?

Yes.  Medallion signature guarantee service is offered to Burke & Herbert Bank customers in Burke & Herbert Bank branches as well as through Trust Services.  We recommend that you call ahead to arrange for this to be available when you need it.  There is no cost to customers for this service.

How do I change the address on my accounts?

You can change your address by contacting us at 703-684-1655, or by visiting any branch to complete a change of address form.

How do I change my name on my accounts?

To change your name on an existing account, please visit your local Burke & Herbert Bank branch and bring with you documentation of the legal change in your name which includes an updated photo ID such as your driver’s license as well as an updated social security card.

How do I place a stop payment on a check?

You may request stop payment of a check by calling us at 703-684-1655, or by visiting any branch.  Certain fees may apply.  Please refer to our opens in a new windowschedule of feesopens PDF file . Business banking customers also may initiate stop payment requests through Business Online Banking.

How do I send a wire transfer?
  • Personal banking customers can send a wire transfer in person from any branch during banking hours. To send the wire, you will need to obtain wiring instructions from the individual or company/organization that will receive the funds.  There are fees to send wires both domestically and internationally.  Please refer to our opens in a new windowschedule of feesopens PDF file .
  • Business banking customers also may send and receive wires via Business Online Banking using the Online Wires service.
May I cash a check at Burke & Herbert Bank if I am not a customer?

Yes, if the check is drawn on Burke & Herbert Bank, you may present it for payment at any Bank branch.  You must provide a valid form of identification, and there must be sufficient funds in the account to cover the amount of the check. Fee may apply.

What is a cashier’s check?

A cashier’s check, also known an official bank check, is a check guaranteed by a bank, drawn on the bank’s own funds and signed by an authorized representative of the Bank.  Cashier’s checks are usually made out on behalf of a bank customer who pays the bank the value of the check. Cashier’s checks are considered guaranteed funds and are commonly used for real estate and other large transactions.

Do you offer cashier’s checks?

Yes, Burke & Herbert Bank offers cashier’s checks for Bank customers. A purchase fee applies. Please refer to our opens in a new windowschedule of feesopens PDF file .

Does the Bank sell money orders?

No, Burke & Herbert Bank does not sell money orders.  However, if you have an account with us, you may purchase a cashier’s check instead.  Similar to a money order, a cashier’s check provides your check recipient with the peace of mind knowing that the funds are guaranteed.

Do you offer safe deposit boxes?

Yes. Safe deposit boxes are available at most Burke & Herbert Bank branches, in a variety of sizes to meet your needs.  Check to see which branches offer safe deposit box services. The annual rental fee for your safe deposit box will be deducted automatically from your Burke & Herbert Bank checking account.

Do you offer coin counting service?

Yes.  Burke & Herbert Bank offers coin counting service via our QuickChange machines, available at select branches. There is a 5% service fee.  Check to see which branches offer QuickChange machines.

Digital Banking and Card Services

What are digital wallets?

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®.

How do digital wallet services work?
  • 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.
Can I use my Burke & Herbert Bank Visa® Debit Card with Apple Pay? Google Pay? Samsung Pay?

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

Is there a fee for making mobile payments using a digital wallet service?

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

Can I use my Burke & Herbert Bank credit card with Apple Pay? Google Pay? Samsung Pay?

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

Are there any limits on using my Debit Card at ATMs, or for making purchases?

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 703-684-1655 or stop by any branch.

Can my Debit Card purchase limit be increased?

Yes.  You can request an increase to the purchase limit on your Debit Card at any branch, or by calling us at 703-684-1655.   

How do I report a lost or stolen debit card or credit card?
  • If your Burke & Herbert Bank Visa® Debit Card has been lost or stolen, it is important to notify us immediately by calling 703-684-1655 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.

 

How do I change the PIN (Personal Identification Number) on my debit card?

You can change the PIN on your Burke & Herbert Bank Visa® Debit Card at any branch during business hours.

How will the Bank alert me if you suspect fraud on my account?

If potential fraud is detected on your account, you will receive an automatic text alert from 32874 between 7 a.m. and 9 p.m. with the option to reply with “fraud” or “no fraud.” There is no cost to you for this text message.  If we do not receive a text response from you within five minutes after the text alert, you will receive automatic phone calls to confirm or deny fraud.  The telephone number for our Fraud Center is 1-800-417-4592.

My Debit Card is going to expire soon. When will I receive a new Card?

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.

How do I enroll in Online Banking?

To enroll in Online 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.

I can’t log in to Online Banking.

Please call us at 703-684-1655 for assistance.

How do I sign-up for eStatements?

To sign-up for eStatements, you must be enrolled in Online Banking.  Once you are logged in to Online 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.  

If I choose eStatements, how will I know when my statement is available?

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

How long will my eStatements remain available to me to view in Online Banking?

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

What do I need to do to access my accounts on my phone or tablet?

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 Online Banking user ID and password.

How do I make deposits using my phone?

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.

Are there any limits on making mobile deposits?

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.

Is it possible to get a higher mobile banking deposit limit?

Yes.  You can request an increase to your mobile banking deposit limits by visiting any branch location, or calling 703-684-1655.

How do I endorse a check that I want to deposit using my phone, and what should I do with the check afterward?

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.

Do you offer Bank-to-Bank transfers?

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 Online Banking.  Select “Bank-to-Bank transfer” from the Online 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 Online Banking, you may initiate Bank-to-Bank transfers through the mobile app as well.  

What limits apply to Bank-to-Bank transfers?

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.

How can I make Person-to-Person (P2P) payments?

Make Person-to-Person (P2P) payments using Online Banking or Mobile Banking.  Once you are logged in to Online 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 Online Banking will be available to you via Mobile Banking as well.

How do I sign up for direct deposit?

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. 

Can I have a portion of my paycheck deposited directly into a checking account and the remainder into a savings account?

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. 

Account Opening Questions

What do I need to open a new personal account?

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
What do I need to open a new business 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 703-684-1655 or visit any branch for further information.

When will I get my Debit Card for my new account?

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

Small Business Loans

What do I need to apply for a small business loan online?

First, please provide us with information about your business and your loan request using the opens in a new windowonline loan application. Then provide supporting documentation as outlined below:

 

Required Documents Loan Requests up to $100,000 Loan Requests from $100,000 to $500,000
Personal Tax Returns(s) Most recently filed Prior 2 Years
Government-Issued Identification (e.g., Driver’s License)
Beneficial Ownership Form, as applicable
If tax returns from the most recent Fiscal Year End (FYE) have not yet been filed, then FYE Business Financial Statements, to include Income Statement and Balance Sheet, will be required Most Recent FYE Most Recent FYE
If the Fiscal Year End is more than 90 Days prior to the application date, include Year-to-Date Income Statement and Balance Sheet
Business Tax Return; include all the schedules and K-1s, if applicable Most recently filed Prior 2 years
How long will it take to get a decision on my small business loan application?

Once your completed application and required supporting documentation are received, you will receive a decision within three (3) business days.

How do I provide the bank with documents needed to support my business loan application?

During the application process, you will be able to register for our Customer Portal. Once you are registered, you will be able to log in to upload documents.  You also will be able to use the portal to see the status of your loan request, and send us messages.

Credit Cards

How do I apply for a Burke & Herbert Bank credit card?

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

What is a secured credit card?

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.

How do I redeem my credit card reward points?

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

Can I access my credit card account information online?

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

What is the number for credit card customer service?

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.

Mortgage Products, Services and Glossary of Terms

What is the difference between a fixed-rate mortgage and an adjustable-rate mortgage?

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.

What are points?

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.

What is earnest money?

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.

What is a down payment?

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.

When buying a home, how much of a down payment do I have to make?

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. 

What are closing costs?

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. 

What other costs does a home buyer have to pay at closing?

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

How will I know what my up-front costs will be to obtain a mortgage loan?

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. 

What is Private Mortgage Insurance (PMI)?

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.

What is PITI?

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

What is an Annual Percentage Rate (APR)?

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.

What is a finance charge?

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.

What is a financial index?

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. 

What is a financial margin?

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.

What is a conforming loan?

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 $822,375.

What is a jumbo loan?

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.  

What is the difference between appraised value and assessed value of a property?

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.

What is amortization?

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.

What is a mortgage pre-qualification?

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.

What is underwriting?

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. 

What is a refinance?

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.

 

What is a loan-to-value (LTV) ratio?

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%).

What is forbearance on a loan?

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.

What is foreclosure?

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.

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