CMB Paycard Cardholder Agreement
This cardholder agreement (this "Agreement") constitutes the terms and conditions under which the CMB Paycard has been issued to You. By registering for an Account and Accepting and using the Card, You agree to be bound by the terms and conditions set forth in this Agreement.
THE CARD OVERVIEW
- The Card. The Card is a prepaid VISA debit card is issued by The Bancorp Bank and allows You access to the funds that You place or are placed on the Card by Your Corporate Sponsor. The Card is not a checking, savings or other type of bank account. The Card is and shall remain the property of the Issuing Bank. THE CARD IS NOT A CREDIT CARD AND NO INTERST WILL BE PAID ON ANY FUNDS PLACED ONTO THE CARD.
- Obtaining a Card. The Card is offered in connection with certain Corporate Sponsors to facilitate the payment of payroll and other payments to employees and contractors. You may register for an Account by visiting www.cmbpaycard.com and completing the registration information. When You register for the Card, You may designate an eligible funding source ("Load Source") that has been verified by our systems with which to Load a minimum of $25.00 U.S. in funds on Your Card. We may, but are not obligated to, accept a variety of Load Sources at any time, such as a bank savings or checking account issued in the United States to a Cardholder with a United States physical billing address. We may change the types of eligible Load Sources at any time. In our sole discretion, we may allow You to change Your designated Load Source to another eligible Load Source at any time, subject to verification by our systems. Any Load Source associated with a Card must be owned by the purchaser of that Card. By designating a Load Source, other than or in addition to the receipt of payments through Your Corporate Sponsor, You will authorize and cause monies to be debited from Your Load Source each time You Load Your Card.
- Managing Your Account Online. After You register for an Account and receive Your Card, You should register the Card and designate a username and personal access password that You can use to sign in to the Card Website to check Your Available Funds, or view Your transactional history ("Online Transaction History"), or designate a new Load Source."). You are responsible for keeping this password safe and You will need it every time You sign in to the portion of the Card Website that contains Your personal Card data. Please notify us immediately at the Customer Service Number if You believe that the security of Your Card or password has been compromised.
- Consent to Fees. You agree to pay the fees and charges ("Fees") set forth in Article 8 of this Agreement as may be amended or supplemented by Us from time to time. For the most recent schedule of Fees associated with Your Card, please contact customer service at 1-800-677-1483.
USING THE CARD
Where You Can Use the Card. You may use the Card to purchase goods or services wherever VISA is accepted so long as You don’t exceed your Available Funds on the Card
- Card Loads. You may Load funds to Your card using the following methods (a "Load"):
- Transfer. You may load funds to your Card by registering an existing bank account that you own on the Card Website and initiating a transfer of funds to your Card from that account. (some fees may apply)
- Corporate Sponsor. If You have obtained the Card through a Corporate Sponsor program whereby You may receive payroll or other payments, You may elect to receive such payments to Your Card for monies earned by requesting to be paid through Your Corporate Sponsors’ web portal or through such other means of request as they may set from time to time.
- The amount of each Load to Your Card must be no less than $25.00.
- PIN Number. Your Personal Identification Number or PIN will be issued via a separate mailer after You receive Your card. Your PIN may be used to obtain cash from any ATM or to make purchases at any POS terminal that accepts VISA.
- Pin Safety. You are responsible for any transactions made using Your PIN. Do not give Your PIN to anyone, store Your PIN with Your card or keep it written down in a place where unauthorized persons may have access to it. If Your PIN has been compromised, You must notify us immediately.
- Responsibility for Fees. Notwithstanding anything to the contrary, You are responsible for any and all transactions and/or Fees incurred by You or any person You have authorized to use Your Card.
- Consent to Debit Your Account and Funds Shortages. Each time You use Your Card, You authorize Us to debit the amount of the transaction from Your Card's Available Funds. You agree not to make a purchase or other transaction in excess of Available Funds. If You do make a purchase or other transaction or if a Fee is deducted from Available Funds that exceeds the Available Funds on Your Card and, as a result, the balance on Your Card is negative (a "Deficiency"), You shall remain fully responsible for the Deficiency amount and we reserve the right to require that You immediately forward payment to us for any such Deficiency. Subject to applicable law, we reserve the right to debit the Available Funds on Your Card or any other prepaid card You hold that is issued by us, or debit any subsequent Loads to the Card, for any Deficiency Amount upon the occurrence of a Deficiency.
- Checking Your Available Funds. You are responsible for tracking Your Available Funds. You may do so 24 hours a day by logging on at https://portal.cardaccesssite.com/web/rapid/login, or by calling customer service at 1-800-677-1483 Monday through Sunday 9 a.m. through 7 p.m.
- Internet/Mail Order/Telephone Order Transactions. If You wish to make a purchase without presenting Your card, You may do so by providing the merchant Your Account number and expiration date. We reserve the right to limit the amount of these transactions that You may make in any given day.
- No Right to Stop Payment. A Cardholder does not have the right to stop payment on any purchase or transaction. Even if You cancel the transaction with the merchant, an authorization hold against Your Available Funds for the corresponding amount of Your transaction may appear on Your Account for up to ten (10) days.
- Returns and Refunds. Should You be entitled to a refund for any purchase You make, You agree to accept credits to Your Account for such refunds. Refunds may take up to five (5) days to post to Your Account from the date the merchant initiates the transaction.
- Receipts. You will receive a receipt for many of Your transactions and You are responsible for retaining these receipts in order to verify Your transactions in the future.
- Use of the Card by Minors. You agree to the terms of this Agreement on behalf of minors authorized by You to use the Card ("Minor(s)"). You agree to review all of these agreements with Your Minors and to educate or instruct them regarding Your wishes for their use of the Card and the Card Website. You agree that we may rely on all uses of the Card and all acts taken at the Card Website assigned to the Minor, even if those uses or acts contravene Your instructions to the Minor or the terms of this Agreement.
- International Transactions. If You make a purchase from a merchant or make an ATM withdrawal in a Foreign Currency, it will be converted into U.S. dollars on the date it is processed by us or our agents. Unless a certain rate is required by applicable law, You authorize us to choose a conversion rate that is acceptable to us for that date. Currently, the conversion rate we use for a transaction in a foreign currency is no greater than the highest official conversion rate published by a government agency, or the highest interbank conversion rate identified by us from customary banking sources on the conversion date or the prior business day. This conversion rate may differ from rates in effect on the day of Your transactions. Charges converted by merchants (such as airlines) will be billed at the rates these Merchants use.
- Statements. Your Statements for the last 12 months of activity are available in electronic form or printed through the Card Website. There is no charge for viewing or printing Your statements online. You may also view Your Online Transaction History for the last 12 months. Alternatively, You may contact us at 1-800-677-1483 and speak with a customer service representative to obtain information about Your Account including transaction activity and the current available value on Your Card (some fees may apply).
- Reviewing Your Statement. You are required to review Your statement and transaction history regularly to ensure accuracy. In the event that there is any unauthorized activity or there is a dispute between You and a merchant, You will promptly report them same to us in a Reasonable Time.
LOST OR STOLEN CARDS AND UNAUTHORIZED TRANSACTIONS
- Reporting a Lost or Stolen Card. If Your Card is lost or stolen, contact us immediately at the customer service number. You will be required to provide Your name, address, Card number and other details for identification purposes.
- Fraudulent or Unauthorized Transactions. If You believe that an unauthorized transaction has occurred after Your Card was lost or stolen, You must contact customer service immediately. You may not be liable for unauthorized use of Your Card provided that You notify us within a Reasonable Time after learning of the loss or theft of Your Card. A transaction will be considered unauthorized if it is initiated by someone other than You without Your authority, or You receive no benefit from the transaction, or if we do conclude, in our sole discretion, that the facts and circumstances do reasonably support a claim of unauthorized use. A "Reasonable Time" will be determined in our sole discretion based on the circumstances but will not greater than 60 days from the transaction date. You agree to provide us all information and assistance reasonably requested in order to timely make a complete investigation of the loss or theft, and we reserve the right to investigate the loss or theft. We may ask You for a written statement, affidavit or other information in support of the claim. If You do not tell us within sixty (60) days after the transaction history was made available to You, You may be liable for the transactions. In no event will Our liability be greater than reimbursing You for the face amount of any unauthorized transaction. All disputes of fraudulent or unauthorized charges must be made in writing to 1111 Lincoln Road, 4th Floor, Miami Beach, FL 33139.
- Replacement Cards. If Your Card is lost or stolen, we will issue You a replacement Card with a value equal to the Available Funds on Your Card at the time You notified us of the loss or theft.
SUSPENSION OR CANCELLATION OF THE CARD
- Cancelling Your Card. You may cancel Your Card at any time by calling the Customer Service Number. If You have Available Funds, we will issue You a refund to either Your Load Source or by sending You a check for the balance. Your refund of any Available Funds may be delayed in order to allow any pending transactions to post to the Account and are subject to any applicable Fees.
- If We Cancel Your Card. We reserve the right to suspend or cancel Your Card if (i) You neither Load funds to nor use Your Card for a period of ninety (90) days or more, (ii) if You attempted Loads to Your Card from Your Load Source and are declined or dishonored repeatedly (iii) if You violate the terms of this Agreement, (iv) if You fail to pay any Fee within sixty (60) days after the date it is due, (v) if there are potential fraud or security risks associated with Your Card, as determined by us, (vi) if You are no longer associated with Your Corporate Sponsor, or (v) for any reason allowed by law.
- Our right to suspend or cancel Your Account may be exercised in our sole discretion; but our decision not to exercise our right to suspend or cancel Your Card, either once or repeatedly, will not constitute a waiver of or preclude the exercise of our right to do so in the future upon the occurrence of an event described in the preceding sentence.
- Refunds of any Available Funds will be processed as set forth in Section 6.1.
OUR LIABILITY FOR FAILURE TO COMPLETE TRANSACTIONS
- We will not be liable for consequential damages (including lost profits), extraordinary damages, special or punitive damages. By way of example, we will not be liable to You:
- If, through no fault of ours, You do not have enough funds available on Your Card to complete the transaction;
- If a merchant refuses to accept Your Card;
- If an ATM where You are making a cash withdrawal does not have enough cash;
- 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;
- If access to Your Card has been blocked after You reported Your Card lost or stolen;
- If there is a hold or Your funds are subject to legal process or other encumbrance restricting their use;
- If we have reason to believe the requested transaction is unauthorized;
- 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;
- Any other exception stated in this Agreement.
FEES AND CHARGES
*All Fees in U.S. Dollars
|Card Load Fee (per Load)||$9.95|
|Monthly Maintenance Fee||$2.95|
|Card Replacement Fee||$-|
|ATM Withdrawal Fee||$1.75|
|Purchase Fee (per transaction)||$0.50|
|Banking Setup Fee||$-|
|Bank Transfer by Cardholder||$-|
|Bill Pay (per transaction)||$1.50|
NO WARRANTY REGARDING GOODS AND SERVICES
- We are not responsible or liable to you (i) for any interruption in your use of the Card, (ii) for the quality, safety, legality, or any other aspect of any goods or services purchased from any Merchant with the Card, (iii) if any Merchant refuses to honor the Card, and/or (iv) for any other problems you may have with any Merchant. Subject to applicable law, if you have a dispute with a Merchant, you agree to settle the dispute directly with the Merchant. If a Merchant fails to honor the Card, please call the Customer Service Number to report the incident.
TELEPHONE MONITORING AND RECORDING
- Subject to applicable law, 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.
PRIVACY AND DATA SECURITY
- We may disclose information to third parties about Your Card or the transactions You make:
- Where necessary to completing transactions;
- To verify the existence and condition of Your Card for a third party, such as merchant;
- To comply with the requirements of any government agency, court order, or other legal process;
- With Your written permission, or;
- To our employees, auditors, affiliates, service providers, or attorneys as needed.
- "Account" means the account established for you and associated with the Card when you register for an account and to receive a card at the Card Website.
- "ATM" means automated teller machine.
- "Available Funds" means the total value of funds Loaded to the Card and available for making purchases or ATM withdrawals.
- "Card" means the CMB Paycard prepaid VISA debit card issued to You by the Bancorp Bank.
- "Card Website" means the website located at cmbpaycard.com where you can register for an Account and access your Account information and utilize other services.
- "CMB" means CMB Services, LLC, its parent, wholly owned subsidiaries, successors and assigns.
- "Account" means the account that is created at the time You register on our site to receive a Card. Your Account will be either a Visa branded debit card.
- "ACH" means a transfer of funds through the United States of America’s Automated Clearing House, initiated by a Cardholder to a bank account in the United States of America.
- "Bank" or "Issuing Bank" means The Bancorp Bank, its parent, wholly owned subsidiaries, successors and assigns.
- "Cardholder" means an individual who has registered for an Account with CMB linked to the Card.
- "Corporate Sponsor" means the Company or Employer from whom You are receiving payroll or other payments.
- "Day" means the twenty-four (24) hour period running from 12:00 a.m. (EST) on one calendar day to 12:00 a.m. (EST) on the next calendar day, unless otherwise specified.
- "Deficiency" is defined in Section 2.5
- "Load" is defined in Section 2.2
- "Foreign Currency" means a currency other than U.S. dollars
- "Load Source" is defined in Section 1.2
- "Online Transaction History" is defined in Section 1.3.
- "PIN or "Pin Number" means the unique numeric code assigned to an Account by the Issuing Bank to enable access to ATM networks and authorize PIN transactions with participating merchants.
- "POS" means point of sale.
- "Reasonable Time" is defined in Section 5.2
- "VISA" means Visa International and any of its regional organizations.
- "We", "Us", and "Our" means CMB, Our successors, parent company, wholly owned subsidiaries, affiliates and assigns.
- "You" and "Your" means You, the Cardholder.
AMENDMENTS TO THIS AGREEMENT
- We may amend or change the terms of this Agreement at any time. We will notify You of any change in the manner provided by applicable law prior to the effective date of the change. No notice will be required if any such change is made for security purposes.
- Purpose. This Arbitration Provision sets forth the circumstances and procedures under which claims (as defined below) will be resolved through binding arbitration. You may have other rights available in a court proceeding that are not available to You in arbitration, such as the right to appeal or participate in a class action. Notwithstanding the foregoing, You will not be precluded from filing an individual claim in small claims court in Miami-Dade County Florida, U.S.A.
- Definitions. As used in this Arbitration Provision, and notwithstanding anything to the contrary, the term: "Claim" shall mean and include any claim, dispute or controversy of every kind and nature, whether based in law or equity, between You and Us arising from or relating to the Card or these Terms and Conditions, as well as any related or prior agreement that You may have had with Us or the relationships resulting from any of the above agreements ("Agreements"), including the validity, enforceability or scope of this Arbitration Provision or the Agreements. "Claim" also includes claims by or against any third party using or providing any product, service or benefit in connection with the Card (including, but not limited to, third parties who accept the Card, third parties who use, provide or participate in programs accessed with the Card, enrollment services and rewards programs, VISA, 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 You or Us (or files a Claim with or against You or Us) in connection with a Claim asserted by You or Us against the other. As used in this Arbitration Provision, "You" and "Us" also includes any corporate parent, or wholly or majority owned subsidiaries, affiliates, any licensees, predecessors, successors, assigns, any purchaser of any accounts, all agents, employees, directors and representatives of any of the foregoing, and any third party using or providing any product, service or benefit in connection with the Card, and We shall also mean the Bank and its parent and any wholly owned subsidiaries.
- 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 (the "Code"), except to the extent the Code conflicts with this Agreement. Claims shall be referred to the American Arbitration Association ("AAA"). For a copy of the procedures, to file a Claim or for other information about AAA, contact (2) AAA 1101 Laurel Oak Road, Suite 100 Voorhees, NJ 08043, www.adr.org. In addition to the AAA, Claims may be referred to any other arbitration organization that is mutually agreed upon in writing by You and Us, or to an arbitration organization or arbitrator(s) appointed pursuant to section 5 of the Federal Arbitration Act ("FAA"), 9 U.S.C. sections 1-16, provided that any such arbitration organization and arbitrator(s) will enforce the terms of the Restrictions on Arbitration provision set forth below.
- Class Action Waiver and Other Restrictions. Arbitration shall proceed solely on an individual basis without the right 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 others. The arbitrator's authority to resolve and make written awards is limited to Claims between You and Us alone. Claims may not be joined or consolidated unless agreed to in writing by all parties. No arbitration award or decision will have any preclusive effect as to issues or claims in any dispute with anyone who is not a named party to the arbitration. Notwithstanding any other provision in these Terms and Conditions (including the "Continuation" provision below), and without waiving either party's right of appeal, if any portion of this "Class Action Waiver and Other Restrictions" provision is deemed invalid or unenforceable, then the entire Arbitration Provision (other than this sentence) shall not apply.
- Arbitration Procedures. This Arbitration Provision is made pursuant to a transaction involving interstate commerce, and shall be governed by the FAA 9 U.S.C. Sections 1-16, as it may be amended, and 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. Federal or state rules of civil procedure or evidence shall not apply. Written requests to expand the scope of discovery rest within the arbitrator's sole discretion and shall be determined pursuant to the applicable Code. The arbitrator shall take reasonable steps to preserve the privacy of individuals, and of business matters. Judgment upon the written arbitral award may be entered in any court having jurisdiction. Subject to the right of appeal under the FAA, the arbitrator's written decision will be final and binding unless You or we take an appeal from the award by making a dated, written request to the arbitration organization within 30 days from the date of entry of the written arbitral award. A three-arbitrator panel administered by the same arbitration organization shall consider anew any aspect of the award objected to by the appellant, conduct an arbitration pursuant to its Code and issue its decision within 120 days of the date of the appellant's written notice. The panel's majority vote decision shall be final and binding.
- Location of Arbitration/Payment of Fees. The arbitration shall take place in Miami-Dade County, Florida, U.S.A. and to the extent possible will be conducted telephonically. Irrespective of who prevails in arbitration, You will only be responsible for paying Your share, if any, of the arbitration fees required by the applicable Code, which amount shall not exceed the filing fees You would have incurred if the Claim had been brought in the appropriate state or federal court closest to Your residence in which case We will pay the difference of any arbitration filing fees. At Your written request, we will consider in good faith making a temporary advance of all or part of Your share of the arbitration filing fees. Waivers also may be available from the AAA.
- Continuation. This Arbitration Provision shall survive termination of the Card, as well as voluntary payment in full of any Deficiencies, any debt collection proceeding by or between You and Us, and any bankruptcy by You or Us. If any portion of this Arbitration Provision, except the "Class Action Waiver and Other Restrictions" provision above, is deemed invalid or unenforceable for any reason, it shall not invalidate the remaining portions of this Arbitration Provision, these Terms and Conditions or any predecessor agreement you may have had with Us, each of which shall be enforceable regardless of such invalidity.
- If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected.
- This Agreement and all questions about its legality, enforceability and interpretation, are governed by the laws of the State of Florida, USA without any regard to conflicts of law provisions.
PATRIOT ACT NOTICE
- 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 receives products like the Card.