Avid
Prepaid Visa ® Card Cardholder Agreement
IMPORTANT
– PLEASE READ CAREFULLY
1. Terms and Conditions for the
Avid Prepaid Visa ® Card. This
document constitutes the agreement (“Agreement”)
outlining the terms and conditions under which the Avid 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 Avid Prepaid Visa Card is Prepaid Ventures,
LTD. and the Customer Service telephone number is (800) 221-6192 or
see the toll free telephone number on the back of your Card. In this
Agreement, "Card" means the Avid Prepaid Visa Card
issued to you by Metropolitan Commercial Bank. “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 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. THE
FEES RELATING TO THE USE (AND MISUSE) OF YOUR CARD ARE SET FORTH IN
THE “SCHEDULE OF FEES AND CHARGES” 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.
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, (4) withdraw cash from your Card Account (as
described in the Section below entitled “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 entitled “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.
We will provide you our bank routing number and assign you a 12-digit
Account Number once your identity has been verified. The bank 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 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
Transaciton Limits amounts set forth in the enclosed Schedule of Fees
and Charges The maximum aggregate value of your Card Account(s) is
restricted to $20,000 at any point in time. We will
determine any maximum value by aggregating the activity and value of
all Card Accounts you may have with us. For security reasons, we may
further limit the number or dollar amount of transactions you can
make with your Card.
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. 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 may also assess a fee to
load funds to your Card Account. You may also direct deposit funds to
your Card Account by providing our bank routing number and your
assigned Account Number to your employer or other direct deposit
payor (as described in the Section above entitled “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 entitled “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.” In addition, when you use an ATM not owned by us, 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.”
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 and
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 or you receive
electronic deposits of federal payments to your Card: 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 or in writing 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
(800) 221-6192 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 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.
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
Avid Prepaid, P.O. Box 307, New Hyde Park, NY 11040 or calling our
administrative office at (800) 221-6192. In the
alternative and at the Cardholder's request less than 24-months of
transaction history can be provided as well.
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 Customer Service at (800) 221-6192 or
telephone us at the number on the back of your Card or write to the
Program Manager, Prepaid Ventures, LTD., 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, or writing to us at www.avidprepaid.com
or the Program Manager Prepaid Ventures, LTD., P.O.
Box 307, New Hyde Park, NY 11040 or calling our administrative
office at (800) 221-6192. 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 (“PIN”) has been lost or stolen, call (800)
221-6192 or the number on the back of your Card, or write to us by
email at info@avidprepaid.com
or write the Program Manager at Prepaid Ventures, LTD., P.O.
Box 307, New Hyde Park, NY 11040. You should also call the number 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
(“PIN”) without your permission.
26. Your Liability for
Unauthorized Transfers. You agree to exercise reasonable control
over your PIN (“Access Code”); user ID; and password
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 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 or calling our administrative office at (800)
221-6192 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. 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 a
replacement Card or Access Code (PIN), 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 and/or Card Account to prevent future losses. If you share
your Card or Access Code (PIN) 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 (PIN), you
agree that you will be liable for all transactions arising from use
of the Card or Access Code (PIN) 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) 221-6192 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
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 Avid 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 Bank, 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 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) 221-6192 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)
221-6192. There is fee associated with a stop payment request for a
Check (see accompanying “Schedule of Fees and Charges”
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. If you have not consented and would like to receive
Communications electronically from us, please visit us online at www.avidprepaid.com.
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.avidprepaid.com.
How to Withdraw Consent. You may withdraw
your consent to receive Communications in electronic form at any time
by contacting us at (800) 221-6192 or visiting the
www.avidprepaid.com website or write to Avid Prepaid, 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.avidprepaid.com or by contacting us at (800)
221-6192.
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) 221-6192 or
writing to us at Avid Prepaid, P.O. Box 307, New
Hyde Park, NY 11040 or email us at info@avidprepaid.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.
SCHEDULE OF FEES AND CHARGES
Dual Payment Plans:
1) Avid Go - Pay as You Go Plan
2) Avid Select –Monthly Fee Plan
|
(1) Avid GO!
Prepaid Visa® Card –
Schedule of Fees and Charges
|
|
Getting Started
|
Getting Cash
|
|
Activation Fee
|
$4.95
|
ATM Cash Withdrawal Fee (Domestic)
|
$3.00
|
|
Adding Money
|
ATM Cash Withdrawal Fee (Int’l)
|
$4.95
|
|
Direct Deposit Fee
|
$0
|
ATM Cash Withdrawal Decline Fee (Domestic)
|
$0.75
|
|
Cash Load Fee (Western Union)^
|
$2.00
|
ATM Cash Withdrawal Decline Fee (Int’l)
|
$2.00
|
|
Cash Load Fee (Money Gram)^
|
$2.00
|
Over the Counter Withdrawal Fee
|
3% with $5.00 minimum
|
|
Cash Load Fee (Visa ReadyLink)^
|
$2.00
|
Getting Information
|
|
^3rd Party Load Networks charge additional fees.
Please consult the 3rd Party Load Network for a
schedule of their fees and charges.
|
ATM Balance Inquiry Fee (Domestic)
|
$0.75
|
|
Making Purchases
|
ATM Balance Inquiry Fee (Int’l)
|
$2.00
|
|
Signature Transaction Fee (Domestic)
|
$1.00
|
ATM Balance Inquiry Decline Fee
|
$0.75
|
|
Signature Transaction Fee (Int’l)
|
$2.95
|
Automated Customer Service Fee
|
$0
|
|
Signature Transaction Decline Fee (Domestic)
|
$0.75
|
Live Agent Customer Service Fee
|
$0
|
|
Signature Transaction Decline Fee (Int’l)
|
$2.00
|
Card Replacement & Closing Your Card
Account
|
|
PIN Transaction Fee (Domestic)
|
$1.50
|
Card Replacement Fee
|
$5.00
|
|
PIN Transaction Fee (Int’l)
|
$3.50
|
Account Closure/Balance Refund Fee
|
$10.00
|
|
PIN Transaction Decline Fee (Domestic)
|
$0.75
|
Miscellaneous
|
|
PIN Transaction Decline Fee (Int’l)
|
$2.00
|
Express Shipping Fee
|
$25.00
|
|
Sending Money
|
Early Access Fee
|
$3.00
|
|
Bill Pay Fee (Electronic)
|
$2.00
|
Maximum Balance
|
|
Bill Pay Fee (Paper Check)
|
$2.00
|
Maximum Balance
|
$20,000
|
|
Bill Pay Fee (Check Cancellation)
|
$5.00
|
|
Card to Card Transfer
|
$2.00
|
Inactivity Fee*
|
$4.95
|
|
Card to Bank Transfer
|
$3.00
|
|
*Monthly, after each 90 day period in which you do not load
or unload funds to your card or use your card to make a purchase
or an ATM withdrawal.
|
|
(2) Avid
Select Prepaid Visa® Card
– Schedule of Fees and Charges
|
|
Getting Started
|
Getting Cash
|
|
Activation Fee
|
$4.95
|
ATM Cash Withdrawal Fee (Domestic)
|
$3.00
|
|
Monthly Fee
|
$4.95
|
|
Adding Money
|
ATM Cash Withdrawal Fee (Int’l)
|
$4.95
|
|
Direct Deposit Fee
|
$0
|
ATM Cash Withdrawal Decline Fee (Domestic)
|
$0.75
|
|
Cash Load Fee (Western Union)^
|
$2.00
|
ATM Cash Withdrawal Decline Fee (Int’l)
|
$2.00
|
|
Cash Load Fee (Money Gram)^
|
$2.00
|
Over the Counter Withdrawal Fee
|
3% with $5.00 minimum
|
|
Cash Load Fee (Visa ReadyLink)^
|
$2.00
|
Getting Information
|
|
^3rd Party Load Networks charge additional fees.
Please consult the 3rd Party Load Network for a
schedule of their fees and charges.
|
ATM Balance Inquiry Fee (Domestic)
|
$0.75
|
|
Making Purchases
|
ATM Balance Inquiry Fee (Int’l)
|
$2.00
|
|
Signature Transaction Fee (Domestic)
|
$0
|
ATM Balance Inquiry Decline Fee
|
$0.75
|
|
Signature Transaction Fee (Int’l)
|
$2.95
|
Automated Customer Service Fee
|
$0
|
|
Signature Transaction Decline Fee (Domestic)
|
$0.75
|
Live Agent Customer Service Fee
|
$0
|
|
Signature Transaction Decline Fee (Int’l)
|
$2.00
|
Card Replacement & Closing Your Card
Account
|
|
PIN Transaction Fee (Domestic)
|
$0
|
Card Replacement Fee
|
$5.00
|
|
PIN Transaction Fee (Int’l)
|
$3.50
|
Account Closure/Balance Refund Fee
|
$10.00
|
|
PIN Transaction Decline Fee (Domestic)
|
$0.75
|
Miscellaneous
|
|
PIN Transaction Decline Fee (Int’l)
|
$2.00
|
Express Shipping Fee
|
$25.00
|
|
Sending Money
|
Early Access Fee
|
$3.00
|
|
Bill Pay Fee (Electronic)
|
$2.00
|
Maximum Balance
|
|
Bill Pay Fee (Paper Check)
|
$2.00
|
Maximum Balance
|
$20,000
|
|
Bill Pay Fee (Check Cancellation)
|
$5.00
|
|
Card to Card Transfer
|
$2.00
|
Inactivity Fee*
|
$4.95
|
|
Card to Bank Transfer
|
$3.00
|
|
*Monthly, after each 90 day period in which you do not load
or unload funds to your card or use your card to make a purchase
or an ATM withdrawal.
|
