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Notice of change in terms to the MyBambu Deposit Account and Cardholder.
AGREEMENT

Thank you for being a valued MyBambu customer. This Notice highlights important changes to the terms of your MyBambu Deposit Account and Cardholder Agreement to be effective on June 9, 2024 except as provided below.

Capitalized terms have the meanings provided in the MyBambu Deposit Account and Cardholder Agreement (“Agreement”).

Please review this Notice carefully.  If you have questions about this Notice:

  • Email us at [email protected]
  • Call us at (833) 882-2628; or
  • Write to us at our new address at P.O. Box 171 West Palm Beach, FL 33402

You can review the updated Agreement by visiting mybambu.com, clicking on the Terms and Conditions link located at the bottom of the homepage and selecting the MyBambu Deposit Account and Cardholder Agreement (located under “CFSB’s DDA”) or opening the MyBambu App and clicking Terms and Conditions under Profile.

CHANGES TO YOUR AGREEMENT

The changes to the Agreement are summarized below.  This list is not complete.  Please refer to the Agreement for the complete terms.

1. Fee changes below will not be effective until June 9, 2024.  Our fees that are changing are:

  • For Allpoint® network ATM balance inquiries, withdrawals, or declines (in network) our fee is $0.00. 
  • Locations can be found at https://www.allpointnetwork.com/locator.html that bears the Allpoint® acceptance mark.
  • For out of network ATM withdrawals or declines (Domestic or International) our fee is $2.50.  For out of network ATM balance inquiries (Domestic or International) our fee is $2.00.  Third party fees may apply to out of network ATM inquiries, withdrawals, or declines. 
  • Domestic and International ATM Withdrawals have an aggregate limit of $500 per transaction, maximum of $1,000 per day, and 5 transactions per day.
  • “Out of network” refers to the locations without the Allpoint® acceptance mark.
  • Card replacement fee.  A card replacement fee of $15 will be applied after your third replacement card.
  • Paper Account cancellation fee. The fee for a check we write to you if you decide to cancel your Account, you have an Account balance and you request that we send you a paper check is $2.50. This is also the fee for a paper Account cancellation check if we or you decide to close your Account.

2. Services that are being added.  Effective May 20, 2024, you will be able to make cash deposits to your MyBambu Deposit Account at using Allpoint® network ATMsfor a fee up to $4.50.  This is not our fee.

3. Effective June 9, 2024, there are changes to transaction limits and frequencies.

Transaction Type

Maximum Amount and Frequency

Deposits*

 

Deposits to your account using your Card number from an external debit card (no gift cards or credit cards) issued by an outside financial institution** 

Maximum of $1,000 per transaction type; maximum of $20,000 per any 30 calendar day period per transaction type

Deposits to your Account using Allpoint® ATMs (Domestic Only)**

Maximum of $1,000 per transaction; maximum of $1,000 per day; maximum of $16,000 per any 30 calendar day period

Cash loads using an authorized retail location**

For barcode loads, Maximum of $999 per load; $5 minimum; maximum 5 per day; maximum of $16,000 per any 30 calendar day period

ATM Withdrawal (Domestic and International)

Maximum of $500 per transaction; maximum of $1,000 per day; 5 times per day.

ACH deposits to your Account using PayPal***

Maximum of $1,000 per transaction; maximum of $1,000 per day; maximum of $16,000 per any 30 calendar day period

*Direct deposits or credits using a debit card from an outside financial institution: Any such deposits received from a different financial institution where the card name does not match the Account holder registered to the Account may be returned to the originator. Deposits using an external debit card from an outside financial institution may be available within minutes of a successful transaction, however there may be times when such transactions are delayed due to network timing or other factors.

**Third party money transfer services used to load funds to your Account may impose their own fees and set limits on the frequency or amount of cash you may load to the Account. These limits could be imposed per transaction, daily, weekly, or monthly.

***Third party money transfer services used to load funds to your Account may impose their own fees and set limits on the frequency or amount of cash you may load to the Account. These limits could be imposed per transaction, daily, weekly, or monthly.

  1. References to International Remittances and frequency and dollar limits have been removed because the service is not provided by Community Federal Savings Bank.
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MyBambu is not a bank. The MyBambu deposit account and MyBambu Visa® Debit Card are issued by Community Federal Savings Bank, Member FDIC. Not all financial services available through MyBambu are offered by Community Federal Savings Bank, refer to each service’s agreement and/or terms and conditions for further information.

BY USING THIS CARD, YOU AGREE TO THE TERMS AND CONDITIONS OF THE MYBAMBU DEPOSIT ACCOUNT AND CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. The MyBambu Visa® Debit Card is issued by Community Federal Savings Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. This card can be used everywhere Visa® debit cards are accepted.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT — To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

1. Register and open a MyBambu account using your country’s issued ID; we do not check your immigration status.

2. No monthly Fee, No Overdrafts, No minimum Balance. An inactivity fee may apply after 12 months.

3. Extra fees, such as, transfer fees, intermediary bank or foreign exchange charges, may apply.

4. Offer valid only when your referred friend opens a new MyBambu account and is verified.

5. The Visa® Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit http://www.visa.com/security.

6. International money transfers are not offered by Community Federal Savings Bank. From time to time, MyBambu may offer promotions related to the use of this service. Extra fees, such as, transfer fees, intermediary bank or foreign exchange charges, may apply. Regular fees will apply as per MyBambu’s fee schedule at the conclusion of any promotion. MyBambu reserves the right to change or end any promotion at any time.

7. Card funds will be held at or transferred to Community Federal Savings Bank, Member FDIC. While there, card funds are insured up to $250,000 by the FDIC in the event Community Federal Savings Bank fails if specific deposit insurance requirements are met. FDIC insurance does not apply to non-bank deposit products.

8. All Zelle® trademarks are the exclusive property of Early Warning Services, LLC. MyBambu products and services ARE NOT AUTHORIZED, ENDORSED, OR SPONSORED BY EARLY WARNING SERVICES, LLC- OWNER OF Zelle®. MyBambu is not an In-Network participant of the Zelle Network® service. Enrollment requires MyBambu customers to add their debit card (connected to a MyBambu account) directly with the Zelle® App. MyBambu users must enroll directly through the Zelle® App and not simply add a user’s information to access Zelle®. Please visit the Zelle® App help page here: Contact Us | Zelle (zellepay.com) for additional information.

MyBambu© 2024. All other product names, logos, brands, trademarks, and registered trademarks are property of their respective owners. All company, product, and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.

FOR CUSTOMER SERVICE CALL MyBambu at 1-833-882-2628

P.O BOX 3811 West Palm Beach Fl 33402.