Terms and Conditions/Definitions for the Balance® Financial Prepaid MasterCard®

CARDHOLDER AGREEMENT

Choose from the following:
If you acquired your card on or after April 25, 2016, this is your cardholder agreement.
If you acquired your card before April 25, 2016, this is your cardholder agreement.

IMPORTANT – PLEASE READ CAREFULLY
If you acquired your card on or after April 25, 2016, this is your cardholder agreement.

THIS AGREEMENT CONTAINS SOME PROVISIONS THAT APPLY ONLY TO THE PRIMARY CARD, SOME THAT APPLY ONLY TO A SECONDARY CARD, AND SOME THAT APPLY TO ALL CARDS.

Terms and Conditions/Definitions for the Exact Prepaid MasterCard®

This Cardholder Agreement (“Agreement”) outlines the terms and conditions under which the Exact Prepaid MasterCard has been issued to you by The Bancorp Bank, Wilmington, Delaware (the “The Bancorp Bank” or “Issuer”). The Issuer is an FDIC insured member institution. “Card” and “Cards” each refer to the Exact Prepaid MasterCard issued by The Bancorp Bank. “Primary Card” refers to the Card issued to the primary Cardholder. “Secondary Card” refers to the Card requested by the primary Cardholder to be issued to the secondary Cardholder. Where necessary, some terms in this Agreement will apply only to the Secondary Card and will be indicated as such, including the use of bold type, otherwise, the term “Card” applies to both the Primary Card and Secondary Card(s), if any. “Card Account” means the records maintained to account for the value of claims associated with the Card. “You” and “your” mean the person or persons including the primary and secondary Cardholder(s), if any, who receive the Card and are authorized to use it as provided in this Agreement. “We,” “us,” and “our” mean the Issuer, our successors, affiliates or assignees. By accepting and using the Card, you agree to be bound by the terms and conditions contained in this Agreement and you acknowledge and agree that the value available in the Card Account is limited to the funds you have loaded onto the Card Account or have been loaded into the Card Account on your behalf. Each recipient of a Card agrees to sign the back of it immediately upon receipt. The expiration date of the Card is identified on the front of it. The Card is a prepaid card. The Card is not connected in any way to any other account. The Card is not a credit card. The Card is not for resale. You will not receive any interest on the funds in the Card Account. The Card remains the property of the Issuer 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. The Card is not designed for business use, and we may close the Card if we determine that it is being used for business purposes. We may refuse to process any transaction that we believe may violate the terms of this Agreement.

Our business days are Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.
Write down the Card number and the customer service phone number provided in this Agreement on a separate piece of paper in case the Card is lost, stolen, or destroyed. Keep the paper in a safe place. Please read this Agreement carefully and keep it for future reference.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.

Activate/Register The Card

You must activate and register the Card before it can be used. You may activate and register the Card by calling 888-924-2653, or activate it online by visiting myexactaccount.com. You will need to provide personal information, including your name, date of birth, address, Social Security number and other information in order to verify your identity.

Personal Identification Number

You will not receive a Personal Identification Number (“PIN”) with the Card. However, you will be prompted to select a PIN when you activate the Card. See the activation instructions in the “Activate/Register The Card” section. You should not write or keep the PIN with the Card. Never share the PIN with anyone. When entering the PIN, be sure it cannot be observed by others and do not enter the PIN into any terminal that appears to be modified or suspicious. If you believe that anyone has gained unauthorized access to the PIN, you should advise us immediately following the procedures in the paragraph labeled “Your Liability for Unauthorized Transfers.”

Secondary Cardholder

The primary Cardholder may request an additional Card for another person (“Secondary Card(s)”). The maximum number of Secondary Cards permitted is three (3). The primary Cardholder must notify us to revoke permission for any person previously authorized to receive the Secondary Card. If we are notified to revoke another person’s use of the Secondary Card, we may revoke your Card and issue a new Card with a different number. The primary Cardholder remains liable for any and all usage of any authorized Secondary Card(s) and the PIN, if any, selected by the Secondary Cardholder. A fee may be assessed to the primary Cardholder’s Card Account for expedited delivery of a Secondary Card; for more information about the delivery options and applicable fees, see the section labeled “Primary Card Fee Schedule.” A Secondary Card may only be loaded with funds that originate from the primary Cardholder’s Card Account and at any point in time, the Secondary Card allocation cannot exceed a maximum balance limit of $2,500.00.

NOTE: CERTAIN IMPORTANT TERMS WHICH APPLY EXCLUSIVELY TO THE SECONDARY CARD APPEAR IN THIS DOCUMENT IN BOLD TYPE.

Authorized Card Users

The primary Cardholder is responsible for all authorized transactions initiated and fees incurred by use of a Card: if you permit another person to have access to a Card or the Card number(s), we will treat this as if you have authorized such use and you will be liable for all transactions and fees incurred by those persons. You are wholly responsible for the use of each Card according to the terms and conditions of this Agreement.

Your Representations and Warranties

By activating the Card or by retaining, using or authorizing the use of the Card, you represent and warrant to us that: (i) you are at least 18 years of age (or older if you reside in a state where the majority age is older); (ii) you are a U.S. citizen or legal alien residing in the fifty (50) states of the United States (“U.S.”), the District of Columbia, Puerto Rico or the U.S. Virgin Islands; (iii) you have provided us with a verifiable street address (not a P.O. Box) in the U.S., Puerto Rico or the U.S. Virgin Islands; (iv) the personal information that you provide to us in connection with the Card is true, correct and complete; (v) you received a copy of this Agreement and agree to be bound by and to comply with its terms; and (vi) you accept the Card.

Cash Access

With a PIN, the Primary Card may be used to obtain cash from any Automated Teller Machine (“ATM”) or any Point-of-Sale (“POS”) device, as permissible by a merchant, bearing the MasterCard®, Maestro® or STAR® Acceptance Mark. All ATM transactions are treated as cash withdrawal transactions. The Primary Card may also be used to withdraw funds from a participating bank (Over the counter withdrawal). Any funds withdrawn from a POS device will be subject to the maximum amount that can be spent on the Card per day.

Secondary Cards do not have cash access – the Secondary Card may not be used to make over the counter withdrawals, make a withdrawal at an ATM, receive cash back at a POS, or receive cash by any other means.

The maximum value of the Primary Card is restricted to $10,000.00. These are the maximum limits associated with withdrawing cash from the Primary Card:

Transaction Type Dollar Limits*
Cash Withdrawal (ATM) Up to $500.00 per transaction, up to $500.00 per day
Cash back at POS Up to $2,500.00 per transaction, up to $2,500.00 per day
Cash Withdrawal (Over The Counter Withdrawal) Up to $2,500.00 per transaction, up to $2,500.00 per day

*ATM and POS device owner-operators, and participating banks may impose their own fees and lower frequency and/or dollar limits on cash withdrawals.

The cumulative spending activity of your Card (or, as applicable, any Secondary Card(s)) for any ATM withdrawal, POS transaction, PIN/Signature transaction, and Over The Counter Withdrawal is limited to $3,000 per day.

*ATM and POS device owner-operators, and participating banks may impose their own fees and lower frequency and/or dollar limits on cash withdrawals.

Loading The Card

The Primary Card can be loaded at any time using direct deposit, bank Automated Clearing House (“ACH”) direct load, or cash loads through participating retail load locations. When making cash loads through the participating retail load locations you understand you will be doing so subject to the terms and conditions of each location operator. Log in to your Card Account online at myexactaccount.com for detailed load instructions and visit the retail load location to see their terms and conditions. You may arrange for direct deposit of your salary, wages or government benefits to your Card by completing and submitting to your employer or the appropriate government agency a form you can obtain by going online to myexactaccount.com or by calling 888-924-2653. However, we may prohibit direct deposits to the Card at our discretion. You should have access to your funds at the times specified below.

  • Direct deposit/bank ACH direct load: Available on the effective date of the deposit or transfer as indicated by the payer.
  • Cash load: Usually available within one (1) hour, but no later than the end of the next business day.

Personal checks, cashier’s checks, and money orders sent to the Issuer are not an acceptable form of loading. All checks and money orders sent to the Issuer for Card loading will be returned unless the full amount may be applied towards a negative balance, in which case the check or money order may or may not be loaded to the Card at the discretion of the Issuer.

Secondary Card(s) may only be loaded with funds that originate from the primary Cardholder’s Card Account. Each Secondary Card is limited to a maximum balance of $2,500.00.

Remote Check Deposit

Checks made payable to the primary Cardholder as the payee may be deposited by downloading the Ingo™ Money app to your mobile device and following the instructions provided in the app. The load process will require you to submit an image of the check along with your 12-digit Direct Deposit account number.

This service is provided by a third party service provider. You acknowledge and agree that use of the service may be revoked at any time if the service provider ceases to provide such service or the Issuer no longer allows loading via such third party provider. To use the service, the primary Cardholder must agree to the terms and conditions the service provider establishes from time to time. These terms and conditions may include fees for use of the service that are charged by the service provider. The terms and conditions, including the applicable fees and transaction-related limits, will be provided to you by the service provider when you sign up for the service. The service provider must notify you about any fee for a particular deposit before you authorize it. Generally, you will not have access to the money you load using the remote check capture service until the check clears (this can take up to ten (10) business days). However, the service provider may offer immediate funds availability for a fee.

The maximum value of the Primary Card is restricted to $10,000.00.

FOR SECURITY REASONS, WE MAY AT ANY TIME IMPOSE ADDITIONAL AND/OR DIFFERENT LIMITS ON THE AMOUNT, NUMBER OR TYPE OF CARD RELOADS YOU CAN MAKE AND ON THE MAXIMUM CARD ACCOUNT BALANCE.

These are the maximum limits associated with loading the Primary Card:

Transaction Type Dollar Limits
Direct Deposits or ACH Direct Load Up to $10,000.00 per day
Cash Loads* Up to $950.00 per transaction, up to $2,500.00 per day
Card to Card** Up to $500.00 per transaction, up to $500.00 per day

* Third party money transfer services used to load funds to the Card Account may impose their own per transaction, daily, weekly or monthly limits on the frequency or amount of cash that may be loaded.

**Card to Card transfer initiated by the primary Cardholder is the only method available to transfer funds from the primary Cardholder’s Card Account to the Secondary Card.

Preauthorized Transfers

The Card Account cannot be used for preauthorized direct debits from merchants, Internet service or other utility service providers (“Merchants”). If presented for payment, preauthorized direct debits will be declined and payment to the Merchant or provider will not be made. The Issuer’s bank routing number and the 12-digit Direct Deposit account number are to be used only for the purpose of initiating direct deposits to the Card Account. Only the primary Cardholder is authorized to provide the Issuer’s bank routing number and the 12-digit Direct Deposit account number to his or her employer or a payer.

Using The Card/Features

The maximum value of the Primary Card is restricted to $10,000.00. The cumulative amount for ATM transactions, POS transactions, PIN/Signature transactions, and Over The Counter Withdrawals is limited to $3,000 per day. As described above, there are additional limitations on cash withdrawals. These are the maximum amounts that can be spent on the Card:

Transaction Type Dollar Limits
Card Purchases (Signature or PIN) Up to $2,500.00 per day
Bill Pay Service Up to $2,000.00 per day

The Card may be used to purchase or lease goods or services everywhere Debit MasterCard, Maestro and STAR are accepted as long as the available value of the Card Account is not exceeded. Some merchants do not allow cardholders to conduct split transactions where you would use the Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge only the exact amount of funds available on the Card Account to the Card. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping your Card, your Card is likely to be declined.

If you use the Card at an automated fuel dispenser (“pay at the pump”), the transaction may be preauthorized for an amount up to $100.00 or more. If your Card is declined, even though there are sufficient funds available, you should pay for your purchase inside with the cashier. If you use the Card at a restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be preauthorized for the purchase amount plus up to 20% or more to ensure there are sufficient funds available to cover tips or incidental expenses incurred. A preauthorization will place a “hold” on those available funds until the merchant sends us the final payment amount of your purchase. All transactions relating to hotels may result in a hold on the funds for up to thirty (30) days. All transactions relating to car rentals may result in a hold on the funds for up to forty-five (45) days. For all other transactions, it may take up to ten (10) days for the hold to be removed. During the hold period, you will not have access to the preauthorized amount.

You do not have the right to stop payment on any purchase or payment transaction originated by use of the Card. If you authorize a transaction and then fail to make the purchase of that item as planned, the approval may result in a hold for that amount of funds for up to ten (10) days.

If you use the Card number without presenting the Card (such as for a mail order, telephone, or Internet purchase), the legal effect will be the same as if you had used the Card itself. For security reasons, we may limit the amount or number of transactions you can make on the Card. The Card cannot be redeemed for cash. You may not use the Card for online gambling or any illegal transaction.

Each time you use the Card, you authorize us to reduce the available value of the Card Account by the amount of the transaction and any applicable fees. You are not allowed to exceed the available amount in the Card Account through an individual transaction or a series of transactions. Nevertheless, if a transaction exceeds the available balance of funds on the Card, you shall remain fully liable to us for the amount of the transaction and any fees, if applicable.

Bill Pay Service

The primary Cardholder may pay bills online at myexactaccount.com. There are fees associated with using this service, See the “Primary Card Fee Schedule” below for details.

Canceling payment of a bill pay transaction: You may cancel a single or recurring bill pay transaction after it is scheduled, but before it is paid. Here’s how: Visit myexactaccount.com or call 888-924-2653 before the payment is scheduled to be made. By calling or visiting the website, you may cancel electronic payments up to three (3) business days prior to the scheduled payment date. Business day cutoff time is midnight MST. Bill payments sent by paper check may be cancelled at any time up to one (1) business day prior to the item being presented for payment. There is a fee for bill pay stop payments, see the section labeled “Primary Card Fee Schedule” for details. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.

Liability for failure to stop payment of bill pay transaction: If you order us to stop one of these payments of a bill pay transaction three (3) business days or more before it is scheduled to be made, and we do not do so, we will be liable for your losses or damages.

Returns and Refunds

If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the Card for such refunds and agree to the refund policy of that merchant. The Issuer is not responsible for the delivery, quality, safety, legality or any other aspects of goods or services you purchase from others with a Card. All such disputes must be addressed and handled directly with the merchant from whom those goods or services were provided.

Card Replacement

If you need to replace the Card for any reason except at Card expiration, please visit myexactaccount.com or call 888-924-2653 to request a replacement Card. You will be required to provide personal information which may include the 16-digit Card number, your full name, transaction history, copies of accepted identification, etc. There is a fee for replacing a lost, stolen or damaged Card. For information about the fee, see the Fee Schedule that’s applicable to your Card. A fee may also be assessed for expedited delivery of an additional Card; for more information about the delivery options and applicable fees, see the Fee Schedule that’s applicable to your Card.

For information on replacing an expired Card, see the section below labeled “Expiration.”

Expiration

The Card will expire no sooner than the date printed on the front of it. The funds on the Card do not expire. You will not be able to use the Card after the expiration date; however, a replacement Card will automatically be mailed to you prior to the expiration of the soon-to-expire Card. There is no fee for a replacement Card sent due to card expiration. If you need a replacement Card for any reason other than the Card’s expiration, you may request one at any time by following the procedures in the section labeled “Card Replacement,” however, there is a fee for a replacement Card. For information about the fee, see the Fee Schedule that’s applicable to your Card.

Transactions Made In Foreign Currencies

If you obtain funds or make a purchase in a currency other than the currency in which the Card was issued, the amount deducted from the available balance of the Card Account will be converted by MasterCard International Incorporated into an amount in the currency of the Card. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by MasterCard International Incorporated from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate MasterCard International Incorporated itself receives, or the government-mandated rate in effect for the applicable central processing date. If you obtain funds or make a purchase in a currency other than the currency in which the Card was issued, the Issuer may assess a foreign currency conversion fee of 3% of the transaction amount and will retain this amount as compensation for its services. Transactions made outside the fifty (50) U.S. states and the District of Columbia are also subject to this conversion fee even if they are completed in U.S. currency.

Receipts

You should get a receipt at the time you make a transaction using the Card. You agree to retain, verify, and reconcile your transactions and receipts.

Card Account Balance/Periodic Statements

You are responsible for keeping track of the available balance of the Card Account. Merchants generally will not be able to determine your available balance. It’s important to know your available balance before making any transaction. The primary or Secondary Cardholder may obtain information about the amount of money remaining in the Card Account by calling 888-924-2653. This information, along with a sixty (60) day history of Card Account transactions, is also available to the primary Cardholder online at myexactaccount.com. You also have a right to obtain a sixty (60) day written history of Card Account transactions by calling 888-924-2653 or by writing to Exact Prepaid Card, PO Box 71402, Salt Lake City, Utah 84171-71402.

You will not automatically receive paper statements.

Primary Card Fee Schedule

All fee amounts will be withdrawn from the Card Account and will be assessed as long as there is a remaining balance on your Card Account, except where prohibited by law. NOTE: Fees assessed to the Card Account balance may bring the Card Account negative. Any time the Card Account balance is less than the fee amount being assessed, the balance of the Card Account will be applied to the fee amount. THIS WILL RESULT IN A NEGATIVE BALANCE ON THE CARD ACCOUNT. If that occurs, any subsequent deposits or loads into the Card Account will first be applied to the negative balance.

Initial Purchase Fee: $2.95 (one-time fee)*
Monthly Fee:
  • No fee when $1,000.00 or more, per monthly billing cycle, is loaded to the Card**
  • Otherwise, $2.95 (per month)
Reload Fee: Varies by retail load location***
Reload Fee via Direct Deposit: No Fee
POS Purchase Fee (PIN or Signature) (Domestic or International): No Fee
ATM Cash Withdrawal Fee: $2.95 (per transaction) ****
ATM Balance Inquiry Fee: $0.95 (per balance inquiry) ****
Over the Counter Withdrawal Fee: $2.95 (per transaction)
Bill Pay Fee: $0.95 (per bill pay transaction)
Bill Pay Stop Payment: $9.95 (per Stop Payment request)
Foreign Transaction Fee: 3% of transaction amount (per transaction)
Secondary Card Fee: $2.95 (per Secondary Card; maximum three (3))
Lost, Stolen or Damaged Card Replacement Fee or Replace Card Fee (Standard 7-10 business day delivery): $2.95 (per Card; when Card is reissued or replaced for any reason with standard delivery, except upon expiration)
Check Refund Fee: $2.95 (per occurrence)
*****Express Shipping Fee: (2-3 business day delivery) $27.50 (per Card; an additional fee when Card is expedited and reissued or replaced for any reason with 2-3 business day delivery following Card production)

* The Purchase Fee will be charged directly to the Card.
** The Monthly Fee is assessed 10 days after the day the Card is first loaded and charged on that day every month thereafter. If you load $1,000.00 or more before the Monthly Fee is scheduled to be assessed, the Monthly Fee will be waived for that month’s billing cycle. Card-to-Card transfers (transfers from one Card to another Card) do not qualify as loads. The Secondary Card can only be loaded by Card-to-Card transfer initiated by the primary Cardholder. This means Secondary Cards are always assessed a Monthly Fee. See the Secondary Card Fee Schedule for details.
*** The Reload Fee is a third party fee amount assessed by the retail load location and is not a fee assessed by us.
**** If you use an ATM not owned by us for any transaction, including a balance inquiry, you may be charged a fee by the ATM operator even if you do not complete a withdrawal. This ATM fee is a third party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to the Card.
*****The Express Shipping Fee is an additional fee assessed when expedited 2-3 business day delivery for a Card reissue or replacement is requested. The $2.95 fee to replace the Card still applies.

Secondary Card Fee Schedule

Fee amounts associated with the Secondary Card will be withdrawn from the secondary Card Account and will be assessed as long as there is a remaining balance in the secondary Card Account, except where prohibited by law.

NOTE: Fees assessed to the Secondary Card balance may bring the Secondary Card negative. Any time the Secondary Card balance is less than the fee amount being assessed on the Secondary Card, the balance of the Secondary Card will be applied to the fee amount.

THIS WILL RESULT IN A NEGATIVE BALANCE ON THE SECONDARY CARD. If that occurs, any transfers from the primary Cardholder’s Card Account to the Secondary Card will first be applied to the negative balance.

Monthly Fee: $2.95 (per month)
POS Purchase Fee (PIN or Signature) (Domestic or International): No Fee
Foreign Transaction Fee: 3% of the transaction amount (per transaction)
Lost, Stolen or Damaged Card Replacement Fee or Replace Card Fee (Standard 7-10 business day delivery): $2.95 (per Card; when Card is reissued or replaced for any reason with standard delivery, except upon expiration.)
*Express Shipping Fee: (2-3 business day delivery) $27.50 (per Card; an additional fee when Card is expedited and reissued or replaced for any reason with 2-3 business day delivery following Card production)
*The Express Shipping Fee is an additional fee assessed when expedited 2-3 business day delivery for a Card reissue or replacement is requested. The $2.95 fee to replace the Card still applies.

Confidentiality

We may disclose information to third parties about the Card or the transactions you make:

  1. Where it is necessary for completing transactions;
  2. In order to verify the existence and condition of the Card for a third party, such as a merchant;
  3. In order to comply with government agency, court order, or other legal or administrative reporting requirements;
  4. If you consent by giving us your written permission;
  5. To our employees, auditors, affiliates, service providers, or attorneys as needed; or
  6. Otherwise as necessary to fulfill our obligations under this Agreement.

Our Liability for Failure to Complete Transactions

If we do not properly complete a transaction from the Card on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  1. If through no fault of ours, you do not have enough funds available on the Card to complete the transaction;
  2. If a merchant refuses to accept the Card;
  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 the Card has been blocked after you reported the Card lost or stolen;
  6. If there is a hold or the funds are subject to legal or administrative 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. Any other exception stated in our Agreement with you.

Your Liability for Unauthorized Transfers

Contact us at once if you believe the Card has been lost or stolen. Telephoning is the best way to minimize your possible losses. If you believe the Card has been lost or stolen, or that someone has transferred or may transfer money from the Card Account without your permission, call 888-924-2653. Under MasterCard Rules, you will not be held responsible for unauthorized transactions if you have used reasonable care in protecting the Card from loss or theft and you have promptly reported to us when you knew that the Card was lost or stolen. Zero Liability does not apply to MasterCard payment cards that are used for commercial purposes, or anonymous prepaid cards (until such time as the identity of the cardholder has been registered with us). In the event that MasterCard Zero Liability does not apply, if you notify us within two (2) business days after you learn of any unauthorized transactions, you can lose no more than $50.00 if someone used the Card without your permission. If you do not notify us within two (2) business days after you learn of the loss or theft of the Card and we can prove that we could have stopped someone from using the Card without your permission if you had promptly notified us, you could lose as much as $500.00.

Also, if you become aware of and/or your statement shows transactions that you did not make, notify us at once following the procedures stated in the paragraph labeled “Information About Your Right to Dispute Errors.” If you do not notify us within sixty (60) days after you become aware of the transaction and/or after the statement was made available to you, you may not get back any value you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the value if you had notified us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. If the Card has been lost or stolen, we will close the Card Account to keep losses down and will send a replacement card. There is a fee for replacing your Card. For information about the fee, see the section labeled “Fee Schedule” that’s applicable to your Card.

Other Miscellaneous Terms

The Card and your obligations under this Agreement may not be assigned. We may transfer our rights under this Agreement. Use of the 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 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 will be governed by the law of the State of Delaware except to the extent governed by federal law.

Amendment and Cancellation

We may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement on the website at myexactaccount.com, and any such amendment shall be effective upon such posting to that website. The current Agreement is available at myexactaccount.com. The primary Cardholder will be notified of any change in the manner provided by applicable law prior to 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 the Card or this Agreement at any time. You may cancel this Agreement by returning the Card to us. Your termination of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination.

In the event the Card Account is cancelled, closed, or terminated for any reason, only the primary Cardholder may request the unused balance to be returned via check sent to the mailing address we have in our records. For security purposes, you may be required to supply identification and address verification documentation prior to issuing a refund check. Allow sixty (60) days for processing and mailing of the refund check. There is a fee for a refund check. Please refer to the Primary Card Fee Schedule above. In the event this Card Program is cancelled, closed, or terminated, we will send you prior notice, in accordance with applicable law. Specific information and instructions, including how to receive any remaining Card Account balance, will be in the notice. The Issuer reserves the right to refuse to return any unused balance amount less than $1.00.

Information About Your Right to Dispute Errors

In case of errors or questions about your electronic transactions, call 888-924-2653 or write to Cardholder Services, Exact Prepaid MasterCard, PO Box 71402, Salt Lake City, Utah 84171-71402 if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must allow you to report an error until sixty (60) days after the earlier of the date you electronically access the 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 888-924-2653 or writing to Exact Prepaid MasterCard, PO Box 71402, Salt Lake City, Utah 84171-71402. You will need to tell us:

  1. Your name and the 16-digit Card number
  2. Why you believe there is an error, and the dollar amount involved
  3. Approximately when the error took place

If you provide this information orally, we may 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 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 credit the Card within ten (10) business days 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 we ask you to put your complaint or question in writing and you do not provide it within ten (10) business days, we may not credit the Card.

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. For new Card Accounts, we may take up to twenty (20) business days to credit the Card Account for the amount you think is in error.

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. Copies of the documents used in the investigation may be obtained by contacting the phone number or address shown at the beginning of this section. If you need more information about our error-resolution procedures, call 888-924-2653 or visit myexactaccount.com.

English Language Controls

Any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.

Customer Service

For customer service or additional information regarding the Card, please contact:
Exact Prepaid MasterCard
PO Box 71402
Salt Lake City, Utah 84171-71402
888-924-2653
Customer Service agents are available to answer your calls:
Monday through Friday, 5:00 a.m. to 11:00 p.m. MT; Saturday and Sunday, 6:00 a.m. to 6:00 p.m. MT (holidays excluded).

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.

No Warranty Regarding Goods or Services as Applicable

We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with the Card.

Arbitration

Any claim, dispute, or controversy (“Claim”) arising out of or relating in any way to: i) this Agreement; ii) the Card; iii) the Cards of additional cardholders designated by you, if any; iv) your acquisition of the Card; v) your use of the Card; vi) the amount of available funds in the Card Account; vii) advertisements, promotions or oral or written statements related to the Card, as well as goods or services purchased with the Card; viii) the benefits and services related to the Card; or ix) transactions on the Card, no matter how described, pleaded or styled, shall be FINALLY and EXCLUSIVELY resolved by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules. This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16).

We will pay the initial filing fee to commence arbitration and any arbitration hearing that you attend shall take place in the federal judicial district of your residence.

ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE.

For a copy of the procedures, to file a Claim or for other information about this organization, contact it at: AAA, 335 Madison Avenue, New York, NY 10017 or at www.adr.org.
All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made final exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction.

NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION OR PRIVATE ATTORNEY GENERAL ACTION OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.

This arbitration provision shall survive: i) the termination of the Agreement; ii) the bankruptcy of any party; iii) any transfer, sale or assignment of the Card, or any amounts owed on the Card, to any other person or entity; or iv) expiration of the Card. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.

IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, DO NOT ACTIVATE OR USE THE CARD. CALL 888-924-2653 TO CANCEL THE CARD AND TO REQUEST A REFUND, IF APPLICABLE.

This Cardholder Agreement is effective 03/2016


IMPORTANT – PLEASE READ CAREFULLY
If you acquired your card before April 25, 2016, this is your cardholder agreement.

TERMS AND CONDITIONS/DEFINITIONS FOR THE EXACT PREPAID MASTERCARD®: This Cardholder Agreement (“Agreement”) outlines the terms and conditions under which the Exact Prepaid MasterCard has been issued by The Bancorp Bank, Wilmington, Delaware (“The Bancorp Bank” or “Issuer”) and is effective as of December 1, 2015 and replaces any previous cardholder agreement for this program. The Issuer is an FDIC insured member institution. “Card” means the Exact Prepaid MasterCard, including any personalized Card(s) issued to you and any secondary Card(s) you request for another person(s). By accepting and using the Card, you agree to be bound by the terms and conditions contained in this Agreement.

“Card Account” means the records we maintain to account for the value of claims associated with the Card. “You” and “your” mean the person or persons who have received the Card and are authorized to use the Card as provided for in this Agreement. “We,” “us,” and “our” mean the Issuer, our successors, affiliates or assignees. You acknowledge and agree that the value available in the Card Account is limited to the funds that you have loaded into the Card Account or have been loaded into the Card Account on your behalf. You agree to sign the back of the Card immediately upon receipt. The expiration date of the Card is identified on the front of the Card. The Card is a prepaid card. The Card is not a gift card or a gift certificate. The Card is not connected in any way to any other account. The Card is not a credit card. The Card is not for resale. You will not receive any interest on your funds in the Card Account. The Card is the property of the Issuer 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. The Card is not designed for business use, and we may close the Card if we determine it is being used for business purposes. We may refuse to process any transaction that we believe may violate the terms of this Agreement.

Our business days are Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.

Write down the Card number(s) and the customer service phone number provided in this Agreement on a separate piece of paper in case the Card is lost, stolen, or destroyed. Keep the paper in a safe place. Please read this Agreement carefully and keep it for future reference.

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

Activate The Card: You must activate the Card before it can be used. You may activate the Card by visiting myexactaccount.com or by calling 888-924-2653. You will need to provide personal information, including your name, birthdate, address, Social Security number and other information in order to verify your identity.

Personal Identification Number: You will not receive a Personal Identification Number (“PIN”) with the Card. However, you will be prompted to select a PIN when you activate the Card. See the activation instructions in the “Activate The Card” section. You should not write or keep your PIN with your Card. Never share your PIN with anyone. When entering your PIN, be sure it cannot be observed by others and do not enter your PIN into any terminal that appears to be modified or suspicious. If you believe anyone has gained unauthorized access to your PIN, you should advise us immediately following the procedures in the paragraph labeled “Your Liability for Unauthorized Transfers.”

Authorized Card Users: You are responsible for all authorized transactions initiated and fees incurred by use of the Card. If you permit another person to have access to the Card or Card number, we will treat this as if you have authorized such use and you will be liable for all transactions and fees incurred by such person(s). You are wholly responsible for the use of each Card according to the terms and conditions of this Agreement.

Your Representations and Warranties: By activating the Card or by retaining, using or authorizing use of the Card, you represent and warrant to us that: (i) you are at least 18 years of age (or older if you reside in a state where the majority age is older); (ii) you are a U.S. citizen or legal alien residing in the United States (“U.S.”) or the District of Columbia; (iii) you have provided us with a verifiable U.S. street address (not a P.O. Box); (iv) the personal information that you provide to us in connection with the Card is true, correct and complete; (v) you received a copy of this Agreement and agree to be bound by and to comply with its terms; and (vi) you accept the Card.

Cash Access: With your PIN, you may use your Card to obtain cash from any Automated Teller Machine (“ATM”) or any Point-of-Sale (“POS”) device, as permissible by a merchant that bears the MasterCard®, Maestro® or STAR® Acceptance Marks. All ATM transactions are treated as cash withdrawal transactions. You may use your Card to withdraw funds from a participating bank (Over the Counter Withdrawal). The maximum cumulative amount that may be withdrawn from an ATM per day is $500.00. Any funds withdrawn from a POS device will be subject to the maximum amount allowed per transaction by the merchant, or the maximum amount that can be spent on your card per day of $2,500.00. The maximum amount withdrawn through a participating bank (Over the Counter Withdrawal) per day is $2,500.00.

Loading The Card: The primary Cardholder may load the Card via direct deposit, bank Automated Clearing House (ACH) load, or cash loads via participating retail load locations. When making loads through the participating retail load locations you understand you will be doing so subject to the terms and conditions of each location operator. Log in to your Card Account online at myexactaccount.com for detailed load instructions and visit the retail load location for their terms and conditions. You may arrange for direct deposit of your salary, wages or government benefits to your Card by completing and submitting to your employer or the appropriate government agency a form you can obtain by going online to myexactaccount.com or by calling 888-924-2653. However, we may prohibit direct deposits to the Card at our discretion. You may not load more than (i) $950.00 cash per transaction with a maximum limit of $2,500.00 per day or (ii) $10,000.00 by ACH credit or direct deposit per day. The retail load location may impose additional limitations on the frequency and value of load transactions. For security reasons, we may at any time impose additional limits on the amount, number or type of Card reloads you can make and also may impose additional limits on the maximum Card Account balance.

You should have access to your funds at the times specified below.

  • Direct deposit/bank ACH direct load: Available on the effective date of the deposit or transfer as indicated by the payer.
  • Cash load: Usually available within one (1) hour, but no later than the end of the next business day.

Personal checks, cashier’s checks, and money orders sent to the Issuer are not an acceptable form of loading. All checks and money orders sent to the Issuer for Card loading will be returned unless the full amount may be applied towards a negative balance, in which case the check or money order may or may not be loaded to the Card at the discretion of the Issuer.

Preauthorized Transfers: The Card Account cannot be used for preauthorized direct debits from merchants or from utility or Internet service providers (“Merchants”). If presented for payment, these preauthorized direct debits will be declined and payment to the Merchant or provider will not be processed. The Issuer’s bank routing number and the 12-digit direct deposit account number are only for the purpose of initiating direct deposits to the Card Account. You are not authorized to provide the Issuer’s bank routing number and direct deposit account number to anyone other than your employer or a payer.

Using Your Card/Features: The maximum amount that can be spent on your Card per day is $2,500.00. The maximum value of your Card Account is restricted to $10,000.00 for the primary Card only, and $2,500.00 for each secondary Card.
You may use the Card to purchase or lease goods or services everywhere Debit MasterCard, Maestro and STAR cards are accepted as long as the available value of the Card Account is not exceeded. Some merchants do not allow cardholders to conduct split transactions where you use the Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge only the exact amount of funds available on the Card Account to the Card. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping the Card, the Card is likely to be declined.

If you use the Card at an automated fuel dispenser (“pay at the pump”), the transaction may be preauthorized for an amount up to $100 or more. If the Card is declined, even though you have sufficient funds available, pay for your purchase inside with the cashier. If you use the Card at a restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be preauthorized for the purchase amount plus up to 20% or more to ensure there are sufficient funds available to cover tips or incidental expenses incurred. Any preauthorized amount will place a “hold” on your available funds until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the preauthorized amount on hold will be removed. It may take up to ten (10) days for the hold to be removed. All transactions relating to hotels may result in a hold for that amount of funds for up to thirty (30) days. All transactions relating to car rentals may result in a hold for that amount of funds for up to forty-five (45) days. During the hold period, you will not have access to the preauthorized amount.

You do not have the right to stop payment on any purchase or payment transaction originated by use of the Card. 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 for up to thirty (30) days.

If you use the 16-digit Card number without presenting your Card (such as for a mail order, telephone, or Internet purchase), the legal effect will be the same as if you used the Card itself. For security reasons, we may limit the amount or number of transactions you can make on the Card. The Card cannot be redeemed for cash. You may not use the Card for online gambling or any illegal transaction.

Each time you use the Card, you authorize us to reduce the value available in your Card Account by the amount of the transaction and any applicable fees. You are not allowed to exceed the available amount in your Card Account through an individual transaction or a series of transactions. Nevertheless, if a transaction exceeds the balance of the funds available on your Card, you shall remain fully liable to us for the amount of the transaction and any applicable fees.

Bill Pay Service: You may pay bills online at myexactaccount.com using your Card Account. There are fees associated with using this service. See the Fee Schedule for details.

Canceling a payment of Bill Pay transaction: You may cancel a single or recurring Bill Pay transaction after it is scheduled, but before it is paid. Here’s how: Visit myexactaccount.com or call 888-924-2653 before the payment is scheduled to be made. By calling or at the website, you may cancel electronic payments up to three (3) business day prior to the scheduled payment date. Business day cutoff time is midnight MST. Bill payments sent by paper check may be cancelled at any time up to one (1) business day prior to the item being presented for payment. There is a fee for bill pay stop payments, see Fee Schedule for details.

If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.

Liability for failure to stop payment of Bill Pay transaction: If you order us to stop payment of a Bill Pay transaction three (3) business days or more before it is scheduled to be made, and we do not do so, we will be liable for your losses or damages.

Returns and Refunds: If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to the Card for such refunds and agree to the refund policy of that merchant. The Issuer is not responsible for the delivery, quality, safety, legality or any other aspects of goods or services that you purchase from others with the Card. All such disputes must be addressed and handled directly with the merchant from whom those goods or services were provided.

Card Replacement: If you need to replace the Card for any reason, please visit myexactaccount.com or call 888-924-2653 to request a replacement Card. You will be required to provide personal information which may include the Card number, full name, transaction history, copies of accepted identification, etc. There is a fee for replacing the Card. An Express Shipping Fee may be assessed for expedited delivery of a replacement Card; for more information about the delivery options and applicable fees, see the section labeled “Fee Schedule.”

Expiration: The Card will expire no sooner than the date printed on the front of it. The funds on the Card do not expire. You will not be able to use the Card after the expiration date; however, a replacement Card will automatically be mailed to you prior to the expiration of the soon-to-expire Card. If you need a replacement Card for any reason other than the Card’s expiration, you may request one at any time by following the procedures in the section labeled “Card Replacement,” however, there is a Lost, Stolen or Damaged Card Replacement Fee. For information about the fee, see the section labeled “Fee Schedule.”

Transactions Made In Foreign Currencies: If you obtain funds or make a purchase in a currency other than the currency in which the Card was issued, the amount deducted from your funds will be converted by MasterCard International Incorporated into an amount in the currency of the Card. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by MasterCard International Incorporated from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate MasterCard International Incorporated itself receives, or the government-mandated rate in effect for the applicable central processing date. If you obtain funds or make a purchase in a currency other than the currency in which the Card was issued, the Issuer may assess a foreign currency conversion fee of 3% of the transaction amount and will retain this amount as compensation for its services. Transactions made outside of the fifty (50) United States and the District of Columbia are also subject to this conversion fee even if they are completed in U.S. currency.

Receipts: You should get a receipt at the time you make a transaction using the Card. You agree to retain, verify, and reconcile your transactions and receipts.

Card Account Balance/Periodic Statements: You are responsible for keeping track of the available balance of your Card Account. Merchants generally will not be able to determine your available balance. It’s important to know your available balance before making any transaction.

You may obtain information about the amount of money you have remaining in your Card Account by calling 888-924-2653. This information, along with a sixty (60) day history of Card Account transactions, is also available online at myexactaccount.com. You also have a right to obtain a sixty (60) day written history of Card Account transactions by calling 888-924-2653 or by writing to Exact Prepaid MasterCard, PO Box 71402, Salt Lake City, Utah 84171-71402. You will not automatically receive paper statements.

Fee Schedule: All fee amounts will be withdrawn from the Card Account and will be assessed as long as there is a remaining balance in the Card Account, except where prohibited by law.

NOTE: Fees assessed to the Card Account balance may bring the Card Account negative. Any time the Card Account balance is less than the fee amount being assessed on the Card Account, the balance of the Card Account will be applied to the fee amount.

THIS WILL RESULT IN A NEGATIVE BALANCE ON THE CARD ACCOUNT. If that occurs, any subsequent deposits or loads to the Card Account will first be applied to the negative balance.

Fee Type Fee
Monthly Fee:
  • No fee when $1,000.00 or more, per monthly billing cycle, is loaded to your Card*
  • Otherwise, $2.95 (per month)
Reload Fee:

Varies by retail load location**

Reload Fee via Direct Deposit: No Fee
POS Purchase Fee (PIN or Signature) (Domestic or International): No Fee
ATM Cash Withdrawal Fee: $2.95 (per transaction)***
ATM Balance Inquiry Fee:

$0.95 (per transaction)***

Over the Counter Withdrawal Fee: $2.95 (per transaction)
Bill Pay Fee: $0.95 (per transaction)
Bill Pay Stop Payment: $9.95 (per Stop Payment request)
Foreign Transaction Fee: 3% of transaction amount (per transaction)
Secondary Card Fee: $2.95 (per Card; maximum three (3))
Lost, Stolen or Damaged Card Replacement Fee: $2.95 (per occurrence)
Check Refund Fee: $2.95 (per occurrence)
Express Shipping Fee: $27.50 (per occurrence)

*The Monthly Fee is assessed 10 days after the day the Card is first loaded and charged on that day every month thereafter. If you load $1,000.00 or more before the Monthly Fee is scheduled to be assessed, the Monthly Fee will be waived for that month’s billing cycle. Card-to-Card transfers (transfers from one Card to another Card) do not qualify as loads. The secondary Card can only be loaded by Card-to-Card transfer. This means secondary Cards are always assessed a Monthly Fee.
** The Reload Fee is a third party fee amount assessed by the retail load location and is not a fee assessed by us.
***If you use an ATM not owned by us for any transaction, including a balance inquiry, you may be charged a fee by the ATM operator even if you do not complete a withdrawal. This ATM fee is a third party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to the Card.

Secondary Cardholder

You may request an additional Card for another person. The maximum number of additional Cards permitted is three (3). You must notify us to revoke permission for any person you previously authorized to use the Card. If you notify us to revoke another person’s use of the Card, we may revoke your Card and issue a new Card with a different number. You remain liable for any and all usage of any additional Card you authorize. A fee may be assessed for expedited delivery of an additional Card; for more information about the delivery options and applicable fees, see the section labeled “Fee Schedule.”

The value of the funds available for use by the secondary Cardholder is limited to the value of the funds made available by the primary Cardholder.

These are the limits associated with the usage of a secondary Card:

Maximum Balance/Loading the Secondary Card: Secondary Cards may only be loaded by transfers of funds from the primary Cardholder’s Card Account. The maximum balance of each secondary Card is limited to $2,500.00. The maximum amount that can be transferred from the primary Card to each secondary Card is $2,500.00.

Secondary Card Cash Access: Secondary Cards do not have access to cash at Automated Teller Machines (“ATM(s)”), Over the Counter Withdrawals made at bank locations or cash back at a POS device.

Secondary Card Fee Schedule: All fee amounts will be withdrawn from the secondary Card Account and will be assessed as long as there is a remaining balance in the secondary Card Account, except where prohibited by law.

NOTE: Fees assessed to the secondary Card balance may bring the secondary Card negative. Any time the secondary Card balance is less than the fee amount being assessed on the secondary Card, the balance of the secondary Card will be applied to the fee amount.

THIS WILL RESULT IN A NEGATIVE BALANCE ON THE SECONDARY CARD. If that occurs, any transfers from the primary Cardholder’s Card Account to the secondary Card will first be applied to the negative balance.

Fee Type Fee
Monthly Fee:

$2.95 (per month)

POS Purchase Fee (PIN or Signature) (Domestic or International):

No Fee

Foreign Transaction Fee: 3% of transaction amount (per transaction)
Lost, Stolen or Damaged Card Replacement Fee: $2.95 (per occurrence)
Express Shipping Fee: $27.50 (per occurrence)

Confidentiality. We may disclose information to third parties about the Card or the transactions you make:

  1. Where it is necessary for completing transactions;
  2. In order to verify the existence and condition of the Card for a third party, such as a merchant;
  3. In order to comply with government agency, court order, or other legal or administrative reporting requirements;
  4. If you consent by giving us your written permission;
  5. To our employees, auditors, affiliates, service providers, or attorneys as needed; or
  6. Otherwise as necessary to fulfill our obligations under this Agreement.

Our Liability for Failure To Complete Transactions. If we do not properly complete a transaction from the Card on time or in the correct amount according to this Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  1. If through no fault of ours, you do not have enough funds available on the Card to complete the transaction;
  2. If a merchant refuses to accept the Card;
  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 the Card has been blocked after you reported the Card lost or stolen;
  6. If there is a hold or your funds are subject to legal or administrative 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. Any other exception stated in this Agreement with you.

Your Liability for Unauthorized Transfers: Contact us at once if you believe the Card has been lost or stolen. Telephoning is the best way to minimize your possible losses. If you believe the Card has been lost or stolen, or that someone has transferred or may transfer money from the Card Account without your permission, call 888-924-2653. Under MasterCard Rules, you will not be held responsible for unauthorized transactions if you have used reasonable care in protecting the Card from loss or theft and you have promptly reported to us when you knew that the Card was lost or stolen. Zero Liability does not apply to MasterCard payment cards that are used for commercial purposes, or anonymous prepaid cards (until such time as the identity of the cardholder has been registered with us). In the event that MasterCard Zero Liability does not apply, if you notify us within two (2) business days after you learn of any unauthorized transactions, you can lose no more than $50.00 if someone used the Card without your permission. If you do not notify us within two (2) business days after you learn of the loss or theft of the Card and we can prove that we could have stopped someone from using the Card without your permission if you had promptly notified us, you could lose as much as $500.00.

Also, if you become aware of and/or your statement shows transactions that you did not make, notify us at once following the procedures stated in the paragraph labeled “Information About Your Right to Dispute Errors.” If you do not notify us within sixty (60) days after you become aware of the transaction and/or after the statement was made available to you, you may not get back any value you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the value if you had notified us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods. If the Card has been lost or stolen, we will close the Card Account to keep losses down and will send a replacement card. There is a fee for replacing the Card. For information about the fee, see the section labeled “Fee Schedule.”

Other Miscellaneous Terms: The Card and your obligations under this Agreement may not be assigned. We may transfer our rights under this Agreement. Use of the 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 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 will be governed by the law of the State of Delaware except to the extent governed by federal law.

Amendment and Cancellation: We may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement on our website at myexactaccount.com, and any such amendment shall be effective upon such posting to that website. The current Agreement is available at myexactaccount.com. You will be notified of any change in the manner provided by applicable law prior to 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 the Card or this Agreement at any time. You may cancel this Agreement by returning the Card to us. Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination.

In the event the Card Account is cancelled, closed, or terminated for any reason, you may request the unused balance to be returned to you by check to the mailing address we have in our records. There is a fee for this service. Please see “Fee Schedule” for details. For security purposes, you may be required to supply identification and address verification documentation prior to issuing a refund check. Allow up to sixty (60) days for processing and mailing of the refund check.

In the event this Card Program is cancelled, closed, or terminated, we will send you prior notice, in accordance with applicable law. Specific information and instructions, including how to receive any remaining Card Account balance, will be in the notice. The Issuer reserves the right to refuse to return any unused balance amount less than $1.00.

Information About Your Right to Dispute Errors: In case of errors or questions about your electronic transactions, call 888-924-2653 or write to Cardholder Services, Exact Prepaid MasterCard, PO Box 71402, Salt Lake City, Utah 84171-71402 if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must allow you to report an error until sixty (60) days after the earlier of the date you electronically access the 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 888-924-2653 or writing to Exact Prepaid MasterCard, PO Box 71402, Salt Lake City, Utah 84171-71402. 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
  3. Approximately when the error took place

If you provide this information orally, we may 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 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 credit the Card within ten (10) business days 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 we ask you to put your complaint or question in writing and you do not provide it within ten (10) business days, we may not credit the Card.

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. For new Card Accounts, we may take up to twenty (20) business days to credit the Card Account for the amount you think is in error.

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. Copies of the documents used in the investigation may be obtained by contacting us at the phone number or address listed at the beginning of this section. If you need more information about our error-resolution procedures, call 888-924-2653 or visit myexactaccount.com.

English Language Controls: Any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.

Customer Service: For customer service or additional information regarding the Card, please contact:

Exact Prepaid MasterCard
PO Box 71402
Salt Lake City, Utah 84171-71402
888-924-2653

Customer Service agents are available to answer your calls:
Monday through Friday, 5:00 a.m. to 11:00 p.m. MT; Saturday and Sunday, 6:00 a.m. to 6:00 p.m. MT (holidays excluded).

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.

No Warranty Regarding Goods or Services as Applicable: We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with the Card.

Arbitration: Any claim, dispute, or controversy (“Claim”) arising out of or relating in any way to: i) this Agreement; ii) the Card; iii) the Cards of any additional cardholders designated by you; iv) your acquisition of the Card; v) your use of the Card; vi) the amount of available funds in the Card Account; vii) advertisements, promotions or oral or written statements related to the Card, as well as goods or services purchased with the Card; viii) the benefits and services related to the Card; or ix) transactions on the Card, no matter how described, pleaded or styled, shall be FINALLY and EXCLUSIVELY resolved by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules. This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16).

We will pay the initial filing fee to commence arbitration and any arbitration hearing that you attend shall take place in the federal judicial district of your residence.

ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE. For a copy of the procedures, to file a Claim or for other information about this organization, contact it at: AAA, 335 Madison Avenue, New York, NY 10017 or at www.adr.org.

All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made final exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction. NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION OR PRIVATE ATTORNEY GENERAL ACTION OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.

This arbitration provision shall survive: i) the termination of the Agreement; ii) the bankruptcy of any party; iii) any transfer, sale or assignment of the Card, or any amounts owed on the Card, to any other person or entity; or iv) expiration of the Card. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force. IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, DO NOT ACTIVATE OR USE THE CARD. CALL 888-924-2653 TO CANCEL THE CARD AND TO REQUEST A REFUND.

This Cardholder Agreement is effective 12/2015