We would like to remind our members that TowneBank will be closed on Monday, May 28th, in observance of Memorial Day. Thank you for choosing TowneBank!

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How do I update my contact information and/or change my address with TowneBank?
Please contact your hometown banker or any TowneBank office to update to your contact information. Requests by phone, fax, or email require a Change of Address form, which we are happy to provide. 

Where do I send my loan payments or my loan payoff for my TowneBank loan?

Please send loan payments and/or payoff payments to the following address: 

Attn: Loan Accounting 
P.O. Box 2818
Norfolk, VA 23501

If mailing your payment overnight: 

Attn: Loan Accounting
6005 Harbour View Blvd.
Suffolk, VA 23435

Who do I call if I have a question about my loan payment or need to find out my payoff amount?

In most cases your hometown banker will be more than happy to assist you. Or, you may contact our Loan Accounting department by phone at 844-673-1511 Monday-Friday between the hours of 9:00 am and 5:00 pm (EST).

How may I request sponsorship by the TowneBank Foundation for my event?

Our sponsorship requests are reviewed by the President of that specific region. Please contact your hometown banker if you’d like to submit a request.

Should I notify the bank before I travel internationally?

Yes.  To prevent an interruption in ATM or Debit Card access, call your local Hometown Banker prior to your departure to place a travel flag on your account. This will reduce the chance of interrupted access to your funds while traveling.  

Is my ATM/Debit card restricted in any countries?

Unfortunately, there are several countries where there is a high level of attempted fraudulent ATM/Debit Card activity. In accordance with Master Card recommendations, transactions have been restricted in specific countries in order to protect our members. Please contact your hometown banker prior to travelling internationally to ensure that your final destination is not on the restricted list. 

If you plan to travel to a country that ATM and debit card transactions are restricted, you may be able to use travelers checks* or obtain foreign currency* before you travel. A hometown banker would be happy to assist you with either option.

*service fees may apply

Where can I use my ATM/Debit Card when out of the country?

If you are not in a foreign country that is restricted you should be able to use your TowneBank debit card anywhere MasterCards® are accepted. To get a current list of restricted countries please contact your hometown banker prior to travelling to make sure you will not experience any service interruptions. 

Are there any fees associated with using my ATM or Debit Card internationally?
Anytime you use your TowneBank debit card overseas you will incur a 3% charge on the total purchase. There is a 3% charge on the amount you withdraw from international ATMs.
How will international transactions post to my account when I use my ATM or debit card?

Transactions made internationally will be charged to your checking account in U.S. dollars and will appear in your monthly statement. The currency conversion rate used on the processing day may differ from the purchase date or posting date rate. TowneBank has no control over the exchange rate. We suggest visiting http://www.exchangerate.com/ to get a general idea of currency exchange rates before you travel.

Why is it important to provide TowneBank with my cell phone number?
If we suspect that your debit card is being used fraudulently, we will call the cell phone number listed on your account instead of a home phone number. It is very important to make sure that we have your current cell phone number on file if you decide to travel domestically or internationally.
What is an overdraft?
An overdraft occurs when you spend more money than you have available in your account. Upon review, TowneBank may choose to pay an item on your behalf. If TowneBank pays this item for you, it is called an overdraft. If TowneBank does not pay this item for you, it will be returned unpaid and called a returned item.
How can I avoid overdraft fees?

If you are currently an online banking user, an easy way to avoid overdraft fees is to use notifications and low balance alerts. Signing up is easy. For Towne-Personal/Biz users simply login and select 'Additional Services' then select 'Alerts and Notifications'. If you use Towne-Biz Plus, login and navigate to the Account Activities & Reporting tab, and 'Manage Balance Alerts'.

We also offer overdraft protection transfers which link your checking account to another TowneBank deposit account. In the event of an overdraft, available funds will automatically be transferred from the linked account. Learn more from your hometown banker. Nominal fees apply. 

Or you may want to apply for a Coverline overdraft protection plan. This is a line of credit that, in the event of an overdraft, will transfer funds from your line of credit to the affected account. Subject to credit approval; applicable interest rates apply.

What is Overdraft Protection?

Overdraft protection is a tool that can help you avoid overdraft and returned item fees.  TowneBank has several options available.  *See Question 2: “How can I avoid overdraft fees?”

What is a Coverline?

A Coverline is a line of credit that, in the event of an overdraft, will transfer funds to the affected account. Coverlines are subject to credit approval and interest rates will apply.

Contact a hometown banker for more information.
Am I automatically enrolled in overdraft protection?

No. You are not automatically enrolled in overdraft protection. You must request to have your accounts linked or you can apply for a Coverline.

I am overdrawn. How did this occur?
You may overdraw your account even though the available balance appears to show sufficient funds in your account. For example, the available balance does not include: 
  • Outstanding checks and payments: Any checks you have written that have not yet cleared your bank account, or automatic or recurring payments that you previously authorized but have not yet been received by the bank for payment.
  • Debit card final transactions: In some cases, the bank receives a pre-authorization for a debit card transaction, but the final transaction may be more than the amount pre-authorized (for example, tips you add onto the transaction at restaurants). 
  • Pending debit card transactions: Certain type of card transactions, like car rentals, hotel reservations, and international transactions may be pre-authorized, but submitted for payment much later.
After reviewing your bank statement or online activity, feel free to contact a hometown banker if you need additional assistance. 

What other resources are available to help minimize overdrafts and fees?
If you are facing financial challenges, you may want to consider free or low-cost financial workshops or individualized financial counseling. Contact the National Foundation for Credit Counseling at 1-800-388-2227, or visit www.ftc.gov or www.fdic.gov for additional consumer resources. If you need additional assistance or tips, feel free to contact your local, hometown banker.
How can I find out what's insured and what portion (if any) exceeds coverage limits?

If you would like to calculate how much coverage applies to your personal or business deposit account visit the FDIC's EDIE Estimator

EDIE calculates the insurance coverage for Personal Accounts—deposits held by people in single accounts, joint accounts, POD/ITF accounts, living trust account, and Individual Retirement Accounts (IRAs); Business Accounts—deposits held by corporations, partnerships, and organizations, both for-profit and not-for-profit; and Government Accounts—deposits held by public units such as school districts, cities, municipalities, counties, and states.

EDIE can be used to calculate the insurance coverage of all types of deposit accounts offered by an FDIC-insured bank, including:

  • Checking Accounts
  • Savings Accounts (both statement and passbook)
  • Money Market Deposit Accounts (MMDAs), and
  • Certificates of Deposit (CDs)

The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.

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