CARDHOLDER AGREEMENT AND FEE SCHEDULE
FOR NEXSCARD VISA® PREPAID CARD
1. Terms and Conditions for NexsCard Visa® Prepaid
Card.
This document constitutes the agreement
("Agreement") outlining the terms and conditions under which the
NexsCard Prepaid Visa Card has been issued to you by Metropolitan
Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A.
Inc. "Metropolitan Commercial Bank" and "Metropolitan" are
registered trademarks of Metropolitan Commercial Bank © 2014.
By accepting and/or using this Card, you agree to be bound by the
terms and conditions contained in this Agreement. The "Program
Manager" for the NexsCard Prepaid Visa Card is Prepaid Ventures,
LTD. and the Customer Service telephone number is (800) 221-6504 or
the toll free telephone number on the back of your Card. In this
Agreement, "Card" means the NexsCard Prepaid Visa Card issued to you
by Metropolitan Commercial Bank, including any Secondary Card(s) you
may request. "Card Account" means the records we maintain to account
for the value of transactions associated with the card. "You" and
"your" means the person or persons who have received the Card and
who are authorized to use the Card as provided for in this
Agreement. "We," "us," and "our" mean Prepaid Ventures, LTD. as your
Program Manager and "Bank" means Metropolitan Commercial Bank, our
successors, affiliates or assignees. The Card will remain the
property of Metropolitan Commercial Bank and must be surrendered
upon demand. The Card is nontransferable, and it may be canceled,
repossessed, or revoked at any time without prior notice subject to
applicable law. Please read this Agreement carefully and keep it for
future reference.
To help the government fight the funding of
terrorism and money laundering activities, federal law requires all
financial institutions and their third parties to obtain, verify,
and record information that identifies each person who obtains a
Card. What this means for you: When you apply for a Card, we will
ask for your name, address, date of birth, social security number or
country identification number, and other information that will allow
us to identify you. We also may ask to see your driver's license or
other documentation bearing your photo as verification of your
identity. By participating in the Card program, you warrant factual
representation of the required information is accurate, including,
but not limited to, your real name, valid U.S. mailing address and
residential address (if different), social security number or other
identification documentation, date of birth, and telephone number.
If you falsify, misrepresent, or fail to provide requested
information, we may cancel your Card. In addition, funds tied to
suspected illicit or illegal activity may be subject to both
internal and potentially federal investigation. We reserve the right
to restrict or delay your access to any such funds.
2. Your Card.
The Card is a prepaid card. The Card allows you to
access funds loaded or deposited to your Card Account by you or on
your behalf. The funds in your Card Account will be FDIC-insured
once we have been able to verify your identity. You may access the
funds in your Card Account by using your Card, Card Number, by
automated clearinghouse (ACH) debit using your Account Number or by
writing a Prefunded Check (as described in the Section below titled
"Prefunded Check Transactions"). The Card is not a credit card. The
Card is not a gift card, nor is it intended for gifting purposes.
You will not receive any interest on your funds on the Card. The
funds in your Card Account will not expire, regardless of the
expiration date on the front of your Card.
3. FEES.
FEES. THE FEES RELATING TO THE USE (AND MISUSE) OF
YOUR CARD ARE SET FORTH IN THE "SCHEDULE OF FEES AND CHARGES
(SCHEDULE A") ATTACHED TO THIS AGREEMENT AND INCORPORATED HEREIN BY
REFERENCE. FEES INCURRED PURSUANT TO THE TERMS OF THIS AGREEMENT
WILL BE WITHDRAWN FROM YOUR CARD ACCOUNT AND WILL BE ASSESSED SO
LONG AS THERE IS A REMAINING BALANCE IN YOUR CARD ACCOUNT, UNLESS
PROHIBITED BY LAW. You agree to pay all fees associated with the
Card. We may from time to time amend the Fee Schedule, at our sole
discretion as set forth in the Section of this Agreement titled
"Amendment and Cancellation." If you request a service that is not
included in this Schedule of Fees and Charges and there is a fee for
such service, such fee will be disclosed at the time you request the
service and you agree that any such fee may be deducted from your
Card Account.
4. Authorized Users.
If you permit another person to have access to your
Card or Card Number, you are liable for all transactions made with
the Card, Card Number or Account Number, and all related fees
incurred, by those persons. To cancel an additional card, telephone
the toll free number on the back of your Card or administrative
office at (800) 221-6504 and you must follow-up not later than 10
business days with the written notification to revoke (cancel)
permission for any person you previously authorized to use your
Card. Until we have received your notice of such a revocation
(cancellation) and have had a reasonable time to act upon the
written notification of cancellation, you are responsible for all
transactions and fees incurred by you or any other person you have
authorized. If you tell us to revoke (cancel) another person’s use
of your Card, we may revoke (cancel) your Card and issue a new Card
with a different Card Number and/or Account Number. You are wholly
responsible for the use of each Card according to the terms of this
Agreement, subject to the section labeled "Lost or Stolen
Cards/Unauthorized Transfers" below, and other applicable laws.
5. Card Account Use and Purpose.
Subject to the limitations set forth in this
Agreement, you may use your Card, Card Number, or Account Number, as
applicable, to (1) add funds to your Card Account (as described in
the Section below titled "Adding Funds to Your Card Account"), (2)
transfer funds between Card Accounts, (3) purchase goods or services
wherever your Card is honored as long as you do not exceed the value
available in your Card Account and aggregate purchases do not exceed
$10,000 per day, (4) withdraw cash from your Card Account (as
described in the Section below titled "Using Your Card to Get Cash,"
and (5) make payments to third parties directly from your Card
Account by writing Prefunded Checks (as described in the Section
below titled "Prefunded Check Transactions"). There may be fees
associated with some of these transactions. For fee information, see
the "Schedule of Fees and Charges" attached to this Agreement. You
agree not to use your Card for illegal gambling or any other illegal
purpose.
You will be provided with the Bank’s routing number
and assigned a 12-digit Account Number once your identity has been
verified. The Bank’s routing number and your assigned Account Number
are for the purpose of initiating direct deposits to your Card
Account and authorized ACH debit transactions only. The 16-digit
Card Number embossed or printed on your Card should not be used for
these types of transactions or they will be rejected. You are not
authorized to use the Bank’s routing number and Account Number if
you do not have sufficient funds in your Card Account or to make a
debit transaction with a paper check, check-by-phone or other item
processed as a check except for Prefunded Check Transactions
authorized by this Agreement. These debits will be declined and your
payment will not be processed. You also may be assessed an ACH
Decline Fee (see the "Schedule of Fees and Charges" attached to this
Agreement).
6. Limitations on Frequency and Dollar
Amounts of Transactions.
The total amount of purchases and cash withdrawals
(including withdrawals inside a bank office) that you can perform in
any single day is limited to $10,000 - see Transaction Limits
amounts set forth below. The maximum aggregate value of your Card
Account(s) is restricted $20,000 at any point in time. The maximum
value will be determined by aggregating the activity and value of
all Card Accounts you may have with the Program. For security
reasons, we may further limit the number or dollar amount of
transactions you can make with your Card. The following grid is
provided in order to highlight the frequency and limitations of
cardholder transactions in a single day or additional time frame if
warranted:
| Transaction/Load Type |
Maximum Frequency/Amount |
Maximum Amount per day |
| Maximum Balance on the card |
🡆 |
$20,000 (includes all cash and direct
deposit loads) |
| Withdrawals |
🡆 |
Up to a maximum of $10,000 per day
includes all Bank Teller, ATM and POS purchases)
|
| Cash Withdrawal (ATM) |
🡆 |
Up to a maximum of $800 per day
|
| Cash Withdrawal (Bank Teller) |
🡆 |
Up to a maximum of $800 per day
|
| Purchases (POS) |
🡆 |
Up to a maximum of $10,000 per day
|
| Loads |
🡆 |
Any combination of the load types listed below to not
exceed the maximum balance of $20,000 per day
|
| Direct Deposits |
🡆 |
Up to a maximum of $20,000 per day
|
| Cash Deposits |
🡆 |
Up to a maximum of $10,000 per day
|
| Card-to-Card transfers |
🡆 |
Up to a maximum of $1,000 per day
|
| ACH Deposits (Bank-to-Card transfers) |
🡆 |
Up to a maximum of $1,000 per day
|
7. Personal Identification Number
("PIN").
We will give you a PIN that you may use with your
Card once your identity has been verified. Only one (1) PIN will be
issued for each Card Account. You will need a PIN to obtain cash at
an ATM or to make a PIN purchase or obtain cash back at a
point-of-sale ("POS") terminal. You should not write or keep your
PIN with your Card. If you believe that anyone has gained
unauthorized access to your PIN, you should advise us immediately,
following the procedures in the Section below titled "Your Liability
for Unauthorized Transfers."
8. Adding Funds to Your Card Account.
You may add funds to your Card (called “value
loading”) at any time. The maximum load amount $10,000. Note: Some
reload locations may have limits on the minimum amount you may load
to your Card. Absent special approval, the maximum aggregate value
of funds in your Card Account(s) may not exceed $20,000 at any time.
You agree to present the Card and meet identification requirements
to complete value load transactions as may be required from time to
time. Load locations may have their own load limits that may be less
than our allowable amount. Load locations also may assess a fee to
load funds to your Card Account. You also may Direct deposit funds
to your Card Account by providing the Bank’s routing number and your
assigned Account Number to your employer or other direct deposit
payor (as described in the Section above titled “Card Account Use
and Purpose”). You cannot load your Card Account by check or money
order.
9. Using Your Card to Get Cash.
With a PIN, you may use your Card to (i) obtain cash
or check your balance at any Automated Teller Machine (“ATM”) that
bears the Visa®, PLUS® or STAR® brand, or (ii) obtain cash at
merchants or banks that have agreed to provide cash back at POS
terminals bearing the Visa®, PLUS® or STAR® brand. All ATM
transactions are treated as cash withdrawal transactions. The
maximum amount of cash you may withdraw at an ATM on a daily basis
is $800 as described in the Section above titled “Limitations on
Frequency and Dollar Amounts of Transactions.” We may limit the
amount of any individual ATM withdrawal, and merchants, banks and
ATM operators may impose additional withdrawal limits. You will be
charged a fee by us for each cash withdrawal and balance inquiry
made at an ATM or cash withdrawal obtained through a bank teller, in
the amount disclosed in the accompanying “Schedule of Fees and
Charges (Schedule A).” In addition, when you use an ATM not owned by
the Bank, you may be charged a fee by the ATM operator or any
network used (and you may be charged a fee for a balance inquiry
even if you do not complete a fund transfer).
10. Split Transactions.
If you do not have enough value loaded on your Card
you can instruct the merchant to charge a part of the purchase to
the Card and pay the remaining amount with cash or another card.
These are called “split transactions.” Some merchants do not allow
cardholders to conduct split transactions. Some merchants will only
allow you to do a split transaction if you pay the remaining amount
in cash. If you fail to inform the merchant that you would like to
complete a split transaction before swiping your Card, your Card is
likely to be declined.
11. Transactions Using Your Card
Number.
If you initiate a transaction without presenting
your Card (such as for a mail order, internet or telephone purchase,
a Prefunded Check purchase or an ACH debit purchase), the legal
effect will be the same as if you used the Card itself.
12. Your Obligation for Negative
Balance Transactions.
Each time you initiate a Card transaction, you
authorize us to reduce the funds available in your Card Account by
the amount of the transaction and all associated fees. You are not
allowed to exceed the available amount in your Card Account through
an individual transaction or a series of transactions (creating a
“negative balance”). Nevertheless, if any transactions cause the
balance in your Card Account to go negative, including any purchase
transactions where the retailer or merchant does not request
authorization, you shall remain fully liable to us for the amount of
any negative balance and any corresponding transaction fees. You may
also be liable for any related Insufficient Funds/NSF Fee(s) as set
forth in the accompanying “Schedule of Fees and Charges (Schedule
A).” We reserve the right to bill you for any negative balance or to
recoup such negative balance from any other Card we have issued to
you. You agree to pay us promptly for the negative balance and any
related fees. We also reserve the right to cancel your Card if you
create one or more negative balances with your Card.
13. Business Days.
Our business days are Monday through Friday,
excluding federal and legal banking holidays in the State of New
York.
14. Authorization Holds.
You do not have the right to stop payment on any
purchase transaction originated by use of your Card, other than a
Recurring Transaction as described in the Section below titled
“Recurring Transactions.” When you use your Card to pay for goods or
services, certain merchants may ask us to authorize the transaction
in advance and the merchant may estimate its final value. When you
use your Card to obtain cash at an ATM or from a bank teller, we
will authorize the transaction in advance (including all applicable
fees). When we authorize a purchase transaction, we commit to make
the requested funds available when the transaction finally settles
will place a temporary hold on your Card’s funds for the amount
indicated by the merchant. If you authorize a transaction and then
fail to make a purchase of that item as planned, the approval may
result in a hold for that amount of funds. Car rentals, hotels and
other service oriented merchants may choose to factor in additional
amounts upon check-in, and it may take up to sixty (60) days after
your stay or your rental to have any excess amounts held by the
hotel or rental company added back to your available balance.
Similarly, some gas stations may factor in additional amounts to
cover potential filling of the tank; if you want to avoid such a
hold, you may want to pay inside the gas station, instead of paying
at the pump. Until the transaction finally settles, the funds
subject to the hold will not be available to you for other purposes.
We will only charge your Card for the correct amount of the final
transaction, and we will release any excess amount when the
transaction finally settles.
When you use your Card at certain restaurants and
service-oriented merchants, there may be an additional 20% (or more)
added to the authorization to cover any tip you may leave on the
purchase. If this occurs, and your total bill, after adding in the
additional 20% (or more), exceeds the amount available on your Card,
your transactions may be declined. Accordingly, you should ensure
that your Card has an available balance that is 20% (or more)
greater than your total bill before using your Card.
15. Recurring Transactions.
If you intend to use your Card for recurring transactions, you
should monitor your balance and ensure you have funds available in
your Card Account to cover the transactions. “Recurring
transactions” are transactions that are authorized in advance by you
to be charged to your Card at substantially regular intervals. We
are not responsible if a recurring transaction is declined because
you have not maintained a sufficient balance in your Card Account to
cover the recurring transaction. If these recurring transactions may
vary in amount, the person you are going to pay should tell you, 10
days before each payment, when it will be made and how much it will
be. (You may choose instead to get this notice only when the payment
would differ by more than a certain amount from the previous
payment, or when the amount would fall outside certain limits that
you set.) If your Card was obtained through
your employer: If you have told us in advance to make regular
payments (i.e., recurring transactions) from your Card Account, you
can stop the payment by notifying us orally at (800) 221-6504 or in
writing Prepaid Ventures, LTD. - P.O. Box 307. New Hyde Park, NY
11040 at least three (3) business days before the scheduled date of
the transfer. If you call, we also may require you to put your
request in writing and get it to us within 14 days after you call.
If you order us to stop one of these payments three (3) business
days or more before the transfer is scheduled, and we do not do so,
we will be liable for your direct losses or damages. If you have
authorized a merchant to make the recurring transaction, you also
should contact the applicable merchant in order to stop the
recurring transaction.
16. Preauthorized Credits.
If you have arranged to have direct deposits made to
your Card Account at least once every sixty (60) days from the same
person or company and you do not receive a receipt/statement
(paystub), you can call us at 1-(800) 221-6504 to find out whether
or not the deposit was made.
17. Returns and Refunds.
If you are entitled to a refund for any reason for
goods or services obtained with your Card, you agree to accept
credits to your Card Account for such refunds. You are not entitled
to a check refund unless your Card has been closed. The amounts
credited to your Card for refunds may not be available for up to
five (5) days from the date the refund transaction occurs.
18. Card Cancellation and Suspension;
Limits.
We reserve the right, in our sole discretion, to
limit your use of the Card, including limiting or prohibiting
specific types of transactions. We may refuse to issue a Card,
revoke Card privileges or cancel your Card with or without cause or
notice, other than as required by applicable law. If you would like
to cancel the use of your Card, you may do so by calling (800)
221-6504 or the number on the back of your Card. You agree not to
use or allow others to use an expired, revoked, canceled, suspended
or otherwise invalid Card. Our cancellation of Card privileges will
not otherwise affect your rights and obligations under this
Agreement. If we cancel or suspend your Card privileges through no
fault of yours, you will be entitled to a refund as provided below
in the Section titled “Amendment and Cancellation.” Not all services
described in this Agreement are available to all persons or at all
locations. We reserve the right to limit, at our sole discretion,
the provision of any such services to any person or in any location.
Any offer of a service in this Agreement shall be deemed void where
prohibited. We can waive or delay enforcement of any of our rights
under this Agreement without losing them.
19. International Transaction Fee.
If you initiate a transaction in a currency or
country other than the currency or country in which your Card was
issued, the amount deducted from your funds will be converted by
Visa U.S.A. Inc. into an amount in the currency of your Card. Visa
U.S.A. Inc. will establish a currency conversion rate for this
convenience using a rate selected by Visa U.S.A. Inc. from the range
of rates available in wholesale currency markets for the applicable
central processing date which may vary from the rate Visa U.S.A.
Inc. itself receives, or the government mandated rate in effect for
the applicable central processing date, in each instance, plus or
minus any adjustment determined by us.
20. Receipts.
You should get or request a receipt at the time you
make a transaction or obtain cash using your Card. You agree to
retain your receipts to verify your transactions. You can get a
receipt at the time you make any transfer from your Card Account
using one of our ATM terminals or through the NexsCard Mobile App.
21. Obtaining Balance and Transaction
Information for Your Card; Periodic Statements.
You should keep track of the amount of funds
available in your Card Account. You may obtain information about the
amount of funds you have remaining in your Card Account by calling
the number on the back of your Card. This information, along with a
12-month history of account transactions, is also available on-line
through our customer self-service website shown on the back of the
Card. You also have the right to obtain a 24-month written history
of account transactions by calling the number on the back of your
Card, writing us at Prepaid Ventures, LTD. – P.O. Box 307. New Hyde
Park, NY 11040 or calling our administrative office at (800)
221-6504.
22. Confidentiality.
We may disclose information to third parties about
your Card or the transactions you make using your Card: (1) where it
is necessary for completing transactions; (2) in order to verify the
existence and condition of your Card for a third party, such as a
merchant; (3) in order to comply with government agency, court
order, or other legal reporting requirements; (4) if you give us
your written permission; (5) to our employees, auditors, affiliates,
service providers, or attorneys as needed; and (6) as otherwise
provided in our Privacy Policy Notice below.
23. Our Liability for Failure to
Complete Transactions.
In no event will we be liable for consequential
damages (including lost profits), extraordinary damages, special or
punitive damages. We will not be liable, for instance: (1) if,
through no fault of ours, you do not have enough funds available in
your Card Account to complete the transaction; (2) if a merchant
refuses to accept your Card or provide cash back; (3) if an ATM
where you are making a cash withdrawal does not have enough cash;
(4) if an electronic terminal where you are making a transaction
does not operate properly, and you knew about the problem when you
initiated the transaction; (5) if access to your Card has been
blocked after you reported your Card or Access Code lost or stolen;
(6) if there is a hold or your funds are subject to legal process or
other encumbrance restricting their use; (7) if we have reason to
believe the requested transaction is unauthorized; (8) if
circumstances beyond our control (such as fire, flood or computer or
communication failure) prevent the completion of the transaction,
despite reasonable precautions that we have taken; or (9) for any
other exception stated in our Agreement with you.
24. In Case of Errors or Questions
about your Card Account.
Call Prepaid Ventures, LTD. – NexsCard Customer
Service at (800) 221-6504
or telephone the number on the back of your Card or the Prepaid
Ventures, LTD. - NexsCard website at www.nexscard.com
or write to the Prepaid Ventures, LTD.-NexsCard
Customer Service, Prepaid Ventures, LTD. - NexsCard, P.O. Box 307.
New Hyde Park, NY, 11040 as soon as you can, if you think an error
has occurred in your Card Account. If your
Card receives wages, salary, or other employee compensation that
are made on a recurring basis or you receive electronic deposits
of federal payments to your Card, the following provisions of this
Section also apply: We must allow you to report an error until
sixty (60) days after the earlier of the date you electronically
access your Card Account, if the error could be viewed in your
electronic history, or the date we sent the FIRST written history on
which the error appeared. You may request a written history of your
transactions at any time by calling us at the number on the back of
your Card, (800) 221-6504, or
writing to the Program Manager by email at
customerservice@nexscard.com or the Program Manager Prepaid
Ventures, LTD. – P.O. Box 307. New Hyde Park, NY 11040 or calling
our administrative office at 801-742-8830.
You will need to tell us: (1) your name and Card Number; (2) why you
believe there is an error, and the dollar amount involved, and (3)
approximately when the error took place. If you tell us orally, we
will require that you send your complaint or question in writing
within ten (10) business days. We will determine whether an error
occurred within ten (10) business days (five (5) business days* for
Visa Point of Sale Signature unauthorized debit transactions) after
we hear from you and will correct any error promptly. If we need
more time, however, we may take up to forty-five (45) days to
investigate your complaint or question. If we decide to do this, we
will provisionally credit your Card within ten (10) business days
(five (5) business days* for Visa Point-of Sale Signature
unauthorized debit transactions) for the amount you think is in
error, so that you will have the use of the money during the time it
takes to complete the investigation. If you do not have wages,
salary, or other employee compensation that are made on a recurring
basis or federal payments (for example, Social Security benefits,
tax refunds or other government payments) deposited to your Card
Account, we may not credit your Card. If we ask you to put your
complaint or question in writing and you do not provide it within
ten (10) business days, (five (5) business days for Visa Point-of
Sale Signature unauthorized debit transactions) we may not credit
your Card Account. For errors involving new Cards, POS transactions,
or foreign-initiated transactions, we may take up to ninety (90)
days to investigate your complaint or question. We will tell you the
results within three (3) business days after completing the
investigation. If we decide that there was no error, we will send
you a written explanation and debit your Card Account for the amount
of the provisional credit. You may ask for copies of the documents
that we used in our investigation. If you need more information
about our error-resolution procedures, call us at the number on the
back of your Card. If your Card Account does
not receive wages, salary, or other employee compensation that are
made on a recurring basis or does not receive electronic deposits
of federal payments, all of this Section applies, except we will
not credit your Card Account until our investigation is complete
and we have determined an error occurred.
25. Lost or Stolen Cards/Unauthorized
Transfers.
If you believe your Card or Access Code(s) (“PIN”) has been lost or
stolen, call (800) 221-6504, the
number on the back of your Card, or write to us by email at customerservice@nexscard.com
website or write the Program Manager at Prepaid
Ventures, LTD. P.O. Box 307. New Hyde Park, NY 11040. You should
also call the number on the back of your Card (800) 221-6504 or write to the
address shown here if you believe an electronic transfer has been
made using the information from your Card or Access Code(s) (“PIN”)
without your permission.
26. Your Liability for Unauthorized
Transfers.
You agree to exercise reasonable control over your PIN(s) (“Access
Code(s)”); user ID(s); and password(s) and any other access code
related to your Card Account (each, an “Access Code") and your Card.
Tell us AT ONCE if you believe your Card or Access Code(s) has been
lost or stolen. Also, if your transaction history shows transfers
that you did not make, including those made with your Card, Card
Number or Account Number, or you believe an electronic transfer has
been made without your permission, tell us at once. Telephoning the
toll-free number on the back of your Card, (800) 221-6504 or calling our
administrative office at 801-742-8830
is the best way of keeping your possible losses down. You could lose
all of the money in your Card Account. If you tell us within two (2)
business days after you learn of the loss or theft of your Card, you
can lose no more than $50.00 if someone used your Card without your
permission. If you do NOT tell us within two (2) business days after
you learn of the loss or theft of your Card, and we can prove that
we could have stopped someone from using your Card without your
permission if you had told us, you could lose as much as $500.00. If
you do not tell us within sixty (60) days after the earlier of the
date you electronically access your Card Account or the date we sent
the FIRST written history on which the error appeared, you may not
get back any money you lost after the sixty (60) days if we can
prove that we could have stopped someone from taking the money if
you had told us in time. If a good, documented, reason (such as a
long trip or a hospital stay) kept you from telling us, we will
extend the time periods. The following
provisions of this Section apply to all Card Accounts: You will
not be liable for unauthorized use that occurs after you notify us
of the loss, theft or unauthorized use of your Card or Access
Code(s). You also agree to cooperate completely with us in attempts
to recover funds from unauthorized users and to assist in their
prosecution. We may issue replacement Card(s) or Access Code(s)
(PIN(s)), but only after you have provided such proof and security
or indemnification as we may require. In addition, you acknowledge
that we may have to deactivate your Card(s) and/or Card Account to
prevent future losses. If you share your Card(s) or Access Code(s)
(PIN(s)) with another person, use of your Card Account by that
person may be considered as authorized. If you authorize another
person to use your Card or Access Code(s) (PIN(s)), you agree that
you will be liable for all transactions arising from use of the Card
or Access Code(s) (PIN(s)) by such person except as otherwise set
forth in this Agreement. In all cases, our liability for an
unauthorized transaction is limited to reimbursing you for the face
amount of the unauthorized transaction and any corresponding fees,
except as otherwise required by applicable law. A transaction is
unauthorized if it is not initiated by you, you did not give
permission to make the transaction and you do not benefit from the
transaction in any way. Visa’s Zero Liability
policy covers U.S.–issued cards only and does not apply to ATM
transactions outside the Visa and PLUS networks, PIN transactions
not processed by Visa, or certain commercial card transactions.
Cardholder must notify us promptly of any unauthorized use.
27. Other Terms.
Your Card and your obligations under this Agreement
may not be assigned. We may transfer our rights under this
Agreement. Use of your Card is subject to all applicable rules and
customs of any clearinghouse or other association involved in
transactions. We do not waive our rights by delaying or failing to
exercise them at any time. If any provision of this Agreement is
determined to be invalid or unenforceable under any rule, law or
regulation of any governmental agency, whether local, state or
federal, the validity or enforceability of any other provision of
this Agreement shall not be affected. This Agreement shall be
governed by the law of the State of New York except to the extent
preempted or governed by federal law.
28. Amendment and Cancellation.
We may amend or change the terms and conditions of
this Agreement at any time. You will be notified of any change in
the manner provided by applicable law before the effective date of
the change. However, if the change is made for security purposes, we
can implement such change without prior notice. We may cancel or
suspend your Card or this Agreement at any time. You also may cancel
this Agreement by returning the Card to us or by calling (800)
221-6504 or customer service at the number on the back of your Card.
If you cancel your Card, you may zero out your Card Account balance
before closing your Card Account or request that we send you a check
in the amount of your Card Account balance when you close your Card
Account, which we will do for a fee as set forth in the “Schedule of
Fees and Charges (Schedule A)” attached to this Agreement. If your
Card is canceled by us when your Card Account has a balance, we will
send you a check in the amount of your Card Account balance for no
charge. In all events, any check we send will be sent to the address
we have for you in our records. Your termination of this Agreement
will not affect any of our rights or your obligations arising under
this Agreement before termination.
29. Telephone Monitoring/Recording.
From time to time we may monitor and/or record
telephone calls between you and us to assure the quality of our
customer service or as required by applicable law.
30. No Warranty Regarding Goods and
Services.
We are not responsible for the quality, safety,
legality, or any other aspect of any goods or services you purchase
with your Card.
31. Arbitration Provision.
This Arbitration Provision sets forth the
circumstances and procedures under which claims (as defined below)
shall be arbitrated instead of litigated in court upon the election
of either party.
(a) Definitions: As used in this Arbitration
Provision, the term “Claim” means any claim, dispute or controversy
between you and us, or between you and Prepaid Ventures, LTD.
Program Manager for the NexsCard Prepaid Visa® Card or any of its
agents or retailers, arising from or relating to the Card or this
Agreement as well as any related or prior agreement that you may
have had with us or the relationships resulting from this Agreement,
including the validity, enforceability or scope of this Arbitration
Provision or the Agreement. “Claim” includes claims of every kind
and nature, including but not limited to initial claims,
counterclaims, cross-claims and third-party claims and claims based
upon contract, tort, fraud and other intentional torts, statutes,
regulations, common law and equity. The term “Claim” is to be given
the broadest possible meaning that will be enforced and includes, by
way of example and without limitation, any claim, dispute or
controversy that arises from or relates to (i) your Card, or the
Cards of any additional cardholders designated by you; (ii) the
amount of available funds on the Cards; (iii) advertisements,
promotions or oral or written statements related to the Cards, goods
or services purchased with the Cards; (iv) the benefits and services
related to the Cards; and (v) your enrollment for any Card. We shall
not elect to use arbitration under the Arbitration Provision for any
Claim that you properly file and pursue in a small claims court of
your state or municipality so long as the Claim is individual and
pending only in that court; any appeals from that court shall be
pursued only in arbitration. As used in this Arbitration Provision,
the terms “we” and “us” shall for all purposes mean the Program
Manager, wholly or majority owned subsidiaries, affiliates,
licensees, predecessors, successors, and assigns; and all of their
agents, employees, directors and representatives. In addition, “we”
or “us” shall include any third party using or providing any
product, service or benefit in connection with any Cards (including,
but not limited to merchants who accept the Card, third parties who
use or provide services, debt collectors and all of their agents,
employees, directors and representatives) if, and only if, such
third party is named as a co-party with us (or files a Claim with or
against us) in connection with a Claim asserted by you. As solely
used in this Arbitration Provision, the terms “you” or ”yours” shall
mean all persons or entities approved by us to have and/or use a
Card, including but not limited to all persons or entities
contractually obligated under any of the Agreements and all
additional cardholders.
(b) Initiation of Arbitration Proceeding/Selection of Administrator:
Any Claim shall be resolved, upon the election by you or us, by
arbitration pursuant to this Arbitration Provision and the code of
procedures of the national arbitration organization to which the
Claim is referred in effect at the time the Claim is filed. Claims
shall be referred to either Judicial Arbitration and Mediation
Services ("JAMS") or the American Arbitration Association ("AAA"),
as selected by the party electing to use arbitration. If a selection
by us of one of these organizations is unacceptable to you, you
shall have the right within thirty (30) days after you receive
notice of our election to select the other organization listed to
serve as arbitrator administrator. For a copy of the procedures, to
file a Claim or for other information about these organizations,
contact them as follows: (i) JAMS at 1920 Main Street, Suite 300,
Los Angeles, CA 92614; website at www.jamsadr.com; and
(ii) AAA at 335 Madison Avenue, New York, NY 10017; website at www.adr.org.
(c) Significance of Arbitration: IF ARBITRATION IS
CHOSEN BY ANY PARTY WITH RESPECT TO A CLAIM, NEITHER YOU NOR WE WILL
HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL
ON THAT CLAIM, OR TO ENGAGE IN DISCOVERY EXCEPT AS PROVIDED FOR IN
THE CODE OF PROCEDURES OF JAMS OR AAA, AS APPLICABLE (THE “CODE”).
FURTHER, YOU WILL NOT HAVE THE RIGHT TO PARTICIPATE IN A
REPRESENTATIVE CAPACITY OR AS A MEMBER OF ANY CLASS OF CLAIMANTS
PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. THE ARBITRATOR SHALL
NOT CONDUCT A CLASS ARBITRATION OR A JOINT ARBITRATION EXCEPT AS SET
FORTH BELOW. THE ARBITRATOR’S DECISION WILL BE FINAL AND BINDING.
NOTE THAT OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT ALSO
MAY NOT BE AVAILABLE IN ARBITRATION.
(d) Restrictions on Arbitration: If either party
elects to resolve a Claim by arbitration, that Claim shall be
arbitrated on an individual basis. There shall be no right or
authority for any Claims to be arbitrated on a class action basis or
on bases involving Claims brought in a purported representative
capacity on behalf of the general public, other Cardholders or other
persons similarly situated. The arbitrator’s authority to resolve
Claims is limited to Claims between you and us alone, and the
arbitrator’s authority to make awards is limited to you and us
alone. Furthermore, Claims brought by you against us or by us
against you may not be joined or consolidated in arbitration with
Claims brought by or against someone other than you, unless
otherwise agreed to in writing by all parties.
(e) Location of Arbitration/Payment of Fees: Any
arbitration hearing that you attend shall take place in the federal
judicial district of your residence. At your written request, we
will consider in good faith making a temporary advance of all or
part of the filing administrative and/or hearing fees for any Claim
you initiate as to which you or we seek arbitration. At the
conclusion of the arbitration (or any appeal thereof), the
arbitrator (or panel) will decide who will ultimately be responsible
for paying the filing, administrative and/or hearing fees in
connection with the arbitration (or appeal). If and to the extent
you incur filing, administrative and/or hearing fees in arbitration,
including for any appeal, exceeding the amount they would have been
if the Claim had been brought in the state or federal court which is
closest to your billing address and would have had jurisdiction over
the Claim, we will reimburse you to that extent unless the
arbitrator (or panel) determines that the fees were incurred without
any substantial justification.
(f) Arbitration Procedures: This Arbitration
Provision is made pursuant to a transaction involving interstate
commerce, and shall be governed by the Federal Arbitration Act, 9
U.S.C. Sections 1-16, as it may be amended (the “FAA”). The
arbitration shall be governed by the applicable Code, except that
(to the extent enforceable under the FAA) this arbitration Provision
shall control if it is inconsistent with the applicable Code. The
arbitrator shall apply applicable substantive law consistent with
the FAA and applicable statutes of limitations and shall honor
claims of privilege recognized at law and, at the timely request of
either party, shall provide a brief written explanation of the basis
for the decision. In conducting the arbitration proceeding, the
arbitrator shall not apply the Federal or any state rules of civil
procedure or rules of evidence. Either party may submit a request to
the arbitrator to expand the scope of discovery allowable under the
applicable Code. The party submitting such a request must provide a
copy to the other party, who may submit objections to the arbitrator
with a copy of the objections provided to the request party, within
fifteen (15) days of receiving the requesting party’s notice. The
granting or denial of such request will be in the sole discretion of
the arbitrator who shall notify the parties of his/her decision
within twenty (20) days of the objecting party’s submission. The
arbitrator shall take reasonable steps to preserve the privacy of
individuals, and of business matters. Judgment upon the award
rendered by the arbitrator may be entered in any court having
jurisdiction. The arbitrator’s decision will be final and binding,
except for any right of appeal provided by the FAA. However, any
party can appeal that award to a three-arbitrator panel administered
by the same arbitration organization, which shall consider anew any
aspect of the initial award objected to by the appealing party. The
appealing party shall have thirty (30) days from the date of entry
of the written arbitration award to notify the arbitration
organization that it is exercising the right of appeal. The appeal
shall be filed with the arbitration organization in the form of a
dated writing. The arbitration organization will then notify the
other party that the award has been appealed. The arbitration
organization will appoint a three-arbitrator panel which will
conduct arbitration pursuant to its Code and issue its decision
within one hundred twenty (120) days of the date of the appellant’s
written notice. The decision of the panel shall be by majority vote
and shall be final and binding.
(g) Continuation: This Arbitration Provision shall
survive termination of your Card as well as voluntary payment of the
debt in full by you, any legal proceeding by us to collect a debt
owed by you, and any bankruptcy by you or us. If any portion of this
Arbitration Provision is deemed invalid or unenforceable under any
principle or provision of law or equity, consistent with the FAA, it
shall not invalidate the remaining portions of this Arbitration
Provision, the Agreement or any prior agreement you may have had
with us, each of which shall be enforceable regardless of such
invalidity.
32. Prefunded Check Transactions
("Check Terms").
We may, in our sole discretion, allow you to use
prefunded checks to access the funds in your Card Account
(“Checks”). Checks must be obtained from us by calling the number on
the back of your Card. Checks produced by other check printers will
not be honored. By accepting and using Checks, you agree to be bound
by these Check Terms, including the fees relating to the use (and
misuse) of Checks as set forth in the accompanying “Schedule of Fees
and Charges.” When you write a Check, the legal effect will be the
same as if you used the Card. Checks will remain the property of the
clearing bank indicated on the face of the Check and must be
surrendered upon demand. Checks are nontransferable, and may be
canceled, repossessed, or revoked at any time without prior notice
subject to applicable law. You should read and follow carefully the
instructions for Check use. Prior to writing a Check, you must first
contact us at (800) 221-6504 and provide us with the number of the
Check, the name of the intended payee and the requested amount of
the Check. You must pre-fund each Check prior to use from the
available funds in your Card Account and write the Authorization
Code we provide you in the space indicated on the face of the Check.
You must fill out the Check in a legible manner and date the Check
the same day as you obtained the Authorization Code. If you (a)
write a Check without obtaining or using a valid Authorization Code,
(b) fail to fill out the Check in a legible manner or fail to date
the Check on the same day you obtained the Authorization Code, or
(c) write a Check using a Check number, payee or check amount that
differs from the Check number, payee or check amount you provided to
us at the time you requested the Authorization Code for the Check,
it will not clear and you will be charged a fee. When you authorize
a Check, the funds necessary to pay the Check will be transferred
from your Card Account to an FDIC insured settlement account pending
presentment of the Check for payment. All funds held in the
settlement account will be held in your name until the applicable
Check is presented for payment. When your Check is presented for
payment, the funds held in the settlement account will be used to
pay the Check. Checks are valid for the period of time designated on
the face of the Check. This period starts to run on the date we
provide you an Authorization Code for the Check. Checks not
presented to the clearing bank prior to the expiration date will be
cancelled and funds will be credited back to your Card Account
through our normal settlement process, less the corresponding fee to
credit the funds back to your Card Account (see accompanying
“Schedule of Fees and Charges” for additional information). Please
note that it may take up to ten (10) Business Days for this refund
to be posted to your Card Account. In some cases, an expired check
may clear if presented for payment prior to processing a
cancellation and refund, in which case no refund will be posted to
your Card Account. You should not use the information on any Check
to process an ACH debit transaction or to set up direct deposit to
your Card. If you desire to stop payment on a Check, you must
contact us at (800) 221-6504. There is fee associated with a stop
payment request for a Check (see accompanying “Schedule of Fees and
Charges (Schedule A)” for additional information). Although we will
make every effort to accommodate a request to stop payment on a
Check, stop payment requests for Checks are not guaranteed and we
will have no liability for failing to stop the payment. Our ability
to process a stop payment request will depend on whether the Check
has been presented for payment. Payees may present Checks for
payment to their bank before we have a reasonable amount of time to
process your stop payment request. If we are successful in stopping
a payment, it may take up to ten (10) Business Days for the funds to
be credited to your Card Account.
33. Delivery of Electronic
Communications
The following E-Communication Disclosure
(“Disclosure”) applies to any and all communications or disclosures
that we are legally required to provide to you in writing in
connection with your Card Account and any related products and
services (“Communications”), to the extent you have consented to
receiving such Communications electronically and failure to consent
will result in a declined application for a NexsCard Prepaid Visa
Card, except as provided below.
Scope of Communications to Be Provided in
Electronic Form.When you use a product or service to which this
Disclosure applies, you agree that we may provide you with any
Communications in electronic format, and that we may discontinue
sending paper Communications to you, unless and until you withdraw
your consent as described below. Your consent to receive electronic
Communications includes, but is not limited to:
- All legal and regulatory disclosures and communications
associated with your Card Account and any related products or
services
- Your Cardholder Agreement and any notices about a change in
terms of your Cardholder Agreement
- Privacy policies and notices
- Error resolution policies and notices
- Responses to claims filed in connection with your Card
Account
- Notices regarding insufficient funds or negative balances
Method of Providing Communications to You in
Electronic Form. All Communications that we provide to you in
electronic form will be provided either (1) by access to a web site
that we will designate in an e-mail notice we send to you at the
time the information is available, or (2) by posting such
Communications on our website at www.NexsCard.com.
How to Withdraw Consent. You may withdraw your
consent to receive Communications in electronic form at any time by
contacting us at (800) 221-6504 or visiting the www.NexsCard.com website or write to P.O.
Box 307, New Hyde Park, NY 11040. If you do withdraw your consent,
we will close your Card Account, except where prohibited by law. We
will not impose any fee to process the withdrawal of your consent to
receive electronic Communications. Any withdrawal of your consent to
receive electronic Communications will be effective only after we
have a reasonable period of time to process your request for
withdrawal. In the meantime, you will continue to receive
Communications in electronic form. If you withdraw your consent, the
legal validity and enforceability of prior Communications delivered
in electronic form will not be affected.
How to Update Your Records. It is your
responsibility to provide us with a true, accurate and complete
e-mail address (if you have elected to receive e-mail messages from
us), your contact information, and other information related to this
Disclosure and your Card Account, and to maintain and update
promptly any changes in this information. You can update information
(such as your e-mail address) through www.NexsCard.com or by contacting us at (800)
221-6504.
Hardware and Software Requirements. In order to
access, view, and retain Communications that we make available to
you electronically, you must have:
- An Internet browser that supports 128 bit
encryption
- Microsoft Internet Explorer 6.0 or above,
or the equivalent software
- Sufficient electronic storage capacity on your computer's
hard drive or other data storage unit
- An e-mail account with an Internet service provider and
e-mail software
- A personal computer (1.0GHz Base or higher), operating
system and telecommunications connections to the Internet capable
of receiving, accessing, displaying, and either printing or storing
Communications received from us in via a plain text-formatted
e-mail or by access to our web site using browser specified above
or equivalent software.
- Adobe Reader version 9.0 or higher
Requesting Paper Copies. We will not send you a
paper copy of any Communication, unless you request it or we
otherwise deem it appropriate to do so. You can obtain a paper copy
of an electronic Communication by printing it yourself or by
requesting that we mail you a paper copy, provided that such request
is made within a reasonable time after we first provided the
electronic Communication to you. To request a paper copy, contact us
by calling (800) 221-6504 or writing to us at P.O.
Box 307, New Hyde Park, NY 11040 or www.NexsCard.com.
Termination/Changes. We reserve the right,
in our sole discretion, to discontinue the provision of your
electronic Communications, or to terminate or change the terms and
conditions on which we provide electronic Communications. We will
provide you with notice of any such termination or change as
required by law.
Metropolitan Commercial Bank Privacy
Policy:
Rev. 8/2015
Schedule of Fees and Charges: