Terms & Conditions
Commercial Prepaid Card Business Funds Cardholder Agreement
Effective Date: January 1, 2015
This Commercial Prepaid Card Business Funds was issued to you at the request of your Employer and pursuant to a contract between your Employer and Bank of America, N.A. (“Bank” or “we” or “our” or “us”) for a Commercial Prepaid Card Business Funds program. This Agreement (“Agreement”) governs your use of the Card and the Account. By accepting, signing, activating or using the Card or Account you agree to the terms of this Agreement. If you do not agree to the terms of this Agreement, you must notify Bank, cut the Card in multiple pieces and properly dispose of the pieces. This Agreement describes the electronic banking services you can use with your Card (as defined below) and includes information about our and your rights and obligations. This Agreement discloses the terms and conditions of your Commercial Prepaid Card Business Funds Account. You may not be entitled to the same rights or benefits given to other deposit account customers or debit card holders at Bank of America unless such rights or benefits are contained in this Agreement. In this Agreement, “you”, “your” and similar words mean the person(s) who has received the Card and is authorized to use it as provided for in this Agreement; “we”, “us”, “our” and similar words mean Bank of America, N. A. and its successors and assigns; and “your sponsor” means the government agency, employer or other commercial entity that has provided the Card for your use.
“Access Device” means a card, code or other means of access to a prepaid account, or any combination
that may be used to initiate electronic fund transfers.
“Account” means the account accessed by your Card.
“ATM” means an automated teller machine.
“Card” means the Commercial Prepaid Card – Business Funds issued to you at the request of your Employer and pursuant to a contract between your Employer and the Bank and includes the plastic card issued by Bank for the Account and all other means of accessing the Account.
“Electronic Fund Transfers” include all transfers resulting from prepaid cards, electronic payments, credits and transfers, telephone transfers, and online banking transactions.
“Employer” means the organization that authorized Bank to issue the Account to you, an employee or agent of the organization. The words “you” and “your” refer to the employee named on the Card.
You agree to the terms of this Card Agreement by activating or using a Card or by allowing another person to use a Card.
1. General Information
Your Card is not a gift card.
You have received your Card at the request of, and per your agreement with, your sponsor as a means of delivery of funds for the purposes defined by your sponsor. Other than additional amounts that may be added by your sponsor or as stated in this Agreement, you may not add or load other amounts to the balance available on your Card. For information on the amounts and scheduled dates of additions to your Account, please contact your Sponsor. Except where prohibited by law or otherwise stated in this Agreement, your Card can only be used for purposes defined by your sponsor as stated in the documents provided with this Agreement or as otherwise communicated by your Sponsor. Your sponsor has retained all rights to any funds in your Account, except as otherwise provided by law or the rules of the network used to make the deposit. They have the right to remove funds from the card at their will and at anytime, with or without prior notice to the cardholder.
Your Card will be subject to the fees and other conditions and limitations set forth in the Schedule of bank fees. Please read this Agreement and the Schedule of Bank Fees carefully and keep it for future reference. Your Card is our property, and we may revoke your Card at any time without cause or notice. Bank can do this with or without cause or consent from Employer and without giving you notice. You must surrender the Card to your Employer or to Bank at their request.
You may not use an expired or revoked Card. No interest is paid on the balance on your Card for any period of time.
2. Your Responsibility
a. Responsibility for Card. The Card is to be used only by you. You agree to use the Card only for business purposes, and not for personal, family, household or other purposes. You agree to notify Bank upon termination of your employment or affiliation with your employer and you agree immediately to cease using the Card. You agree to use your Card only in the manner and for the purposes described in this Card Agreement or as otherwise defined by your Sponsor. If you attempt to use your Card in any other manner or for any other purpose, we may decline the transaction or in our discretion we may complete it without incurring any obligation to honor the same type of transaction on future occasions. You will only use the Card for transactions that are legal. For example, internet gambling transactions may be illegal in some states. Bank will not be liable if you engage in an illegal transaction. Bank may deny authorization for any transaction if Bank suspects fraudulent activity or use by someone who is not authorized or for other reasons. Bank is not liable for any failure to authorize a transaction. You agree to take reasonable precautions to prevent unauthorized use of your Card or disclosure of your PIN. You will notify us promptly if such use or disclosure occurs. The amount available on your Card will be reduced by the amount of your transactions plus applicable fees. Any transaction that will create a negative balance on your Card is not permitted. However, if a negative balance on your Card does occur, you agree (a) that we may take the amount of the negative balance from subsequent additions to your Card or (b) to pay us on demand the amount of the negative balance. To the extent permitted by law, we reserve the right to take or offset funds in any account you or your Sponsor has with us or any debt or obligation you owe to us. If you breach or do not fulfill any term of this Card Agreement, you are responsible to us for all damages and losses.
b. Your PIN. You must select a PIN at the time you activate your Card and prior to using your Card for transactions. If you need to reset the PIN, please call us at 1.866.213.8564, 1.866.656.5913 TTY, or 423.262.1650 (Collect, when calling outside the U.S.) or visit us online at www.bankofamerica.com/commercialprepaidcard.to add a PIN to your Card. Once you have set a PIN on your Card, it continues to apply to any replacement Card issued to you with the same Card number.
c. Activating your Card. When we send you a Card, for your protection, the Card is not activated. Before using your Card, you must activate it by calling the number or visiting the website provided on the sticker affixed to your Card.
3. Cash Access
If applicable to your sponsor’s program, you may use your Card and PIN to obtain cash or make balance inquiries at any Automated Teller Machine (“ATM”) displaying the Visa or MasterCard ® logos. You may also use your Card to obtain cash at offices of financial institutions that accept Visa and Mastercard branded Cards, including our banking centers (an Over the Counter, or OTC, transaction). We will assess fees for ATM and OTC withdrawals as set forth in the Fee Schedule.
Over the Counter (OTC) Transactions
If your Employer consents, you may be able to use the Card to obtain a Cash Advance. Your Employer or Bank may limit the number and dollar amounts of Cash Advances withdraws at an ATM. Bank may set a daily Cash access Advance limit. You will not allow the Cash Advance balance to exceed the Cash Advance limit. We may change the Cash access Advance limit at any time. We may, but are not required to, approve transactions that exceed the available Cash access Advance limit.
4. Minimum and Maximum ATM or Cash Transactions
For security reasons, there may be limits on the amount, number or type of transactions that you can make using your Card, and we may restrict access to your Card if we notice suspicious activity. Most ATMs require that cash withdrawals be made in multiples of a dollar amount (e.g. $10 or $20). In addition, some ATM operators have maximum amounts that may be withdrawn at a machine in one transaction. Additionally, if allowed by your sponsor, some merchants will accept a transaction for an amount greater than the goods or services purchased, and will refund the difference to you in cash. Many merchants limit the amount of cash that may be obtained in connection with a purchase transaction.
5. Services Available at ATMs
You authorize us to act on the instructions you give us through ATMs. Different services are available at Bank of America ATMs than at non-Bank of America ATMs and fees may apply for use of ATMs. From time to time we may amend, add or delete services available at Bank of America ATMs and we may place or change limits on the number or dollar amount of transactions you may make. Some transactions may not be available, or may not be immediately available, to all cardholders at some ATMs.
a. Bank of America ATMs. A Bank of America ATM is an ATM that prominently displays the Bank of America name and logo on the ATM. These ATMs are generally available 24 hours a day, seven days a week, except during routine systems maintenance and occasional system down time. At some locations, business hours may restrict access. Specific hours of operation are shown at an ATM with restricted access. You may use your Card at Bank of America ATMs to perform the following transactions:
• Withdraw funds from your prepaid account; and
• Obtain balance information about your prepaid account.
b. Non-Bank of America ATMs. A non-Bank of America ATM is an ATM that does not prominently display the Bank of America name and logo on the ATM. These ATMs may be owned by us, by one of our affiliates or by someone else. When you use a non-Bank of America ATM, 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 transaction. You may use your Card at non-Bank of America ATMs to perform the following transactions:
• Withdraw funds from your prepaid account; and
• Obtain balance information about your prepaid account.
6. Limitations on Transactions
General limits. Limitations on your use of the Card are based on your sponsor’s program with us and the type of Card you have with us. We may issue authorizations, and permit withdrawals and purchases, in excess of your daily limit. We may decline any transaction if you do not have enough available funds in your account to cover the transaction or we may complete the transaction and overdraw your account. We may decline any transaction if it appears to us to be suspicious or high risk.
Sponsor imposed limits. Your sponsor may impose daily limits on transactions. Any daily limits and transaction or usage restrictions imposed by your sponsor will be set forth in the documents provided with your Card or may be provided separately by your Sponsor.
Cash limit. When you use your Card at ATMs, we may apply a daily limit to the amount you are authorized to withdraw from your Card during each day – a “cash limit” which will be set forth in the documents provided with your Card.
For all cardholders the cash limit is the total amount you are authorized to withdraw each day from your prepaid Card at ATMs using your Card. Your cash limit also includes: (a) purchases of money orders, cashier’s checks, or other similar instruments and other things of value and (b) cash you obtain from a financial institution. Please note that some ATMs may not be able to dispense the full amount of your cash limit in a single transaction in which case you may need to perform more than one transaction.
7. Point of Sale Purchases with Your Card
You may use your Card to pay for goods and services and, if applicable to your sponsor’s program, to receive cash back from the transaction at retail locations that accept Cards. Some transactions may require use of your Personal Identification Number (“PIN”). The merchant may limit the amount of cash back. The merchant or financial institution may charge a fee for these transactions.
a. Liability for purchases. We are not liable if a merchant or financial institution does not accept your Card or Card number. Each time you use your Card to purchase goods or services or to obtain cash at a merchant or financial institution, you authorize us to deduct the amount of the transaction, including any fees, from your prepaid Card. Even if the merchant’s terminal allows you to choose debit or credit, the amount of the transaction is deducted from your prepaid Card. It is not a credit transaction and your Card is not a credit card.
b. Purchases in excess of Card value. If your purchase amount is greater than the remaining value on your Card, most merchants will permit you to pay the difference with alternative methods. You must inform the merchant before beginning your transaction and you must know the remaining value on your Card. You do not have the right to stop payment on any point-of-sale transaction originated by use of your Card. You agree that we are not responsible for goods or services purchased with your Card, if any merchant refuses to accept your Card, or for any other actions of the merchant.
c. Holds. When we approve a request from a merchant or other financial institution to authorize a transaction you conduct with your Card, we may place a hold on the funds. The hold reduces the available balance on your Card by the amount stated in the request. Because the hold reduces the available balance on your Card, your remaining available balance must be sufficient to cover other items that post to your Card (such as in-person and ATM withdrawals, electronic fund transfers, and other debits). In most cases the hold expires when the transaction posts to your account or three business days after the request, whichever occurs first. When the hold expires, the amount being held is added to or subtracted from your available balance. The amount is not applied to a specific transaction. Please note that placing these holds reduces the available balance on your Card and removing these holds either increases or decreases the available balance on your Card. We are not responsible for damages or losses of any type, including wrongful dishonor, for any transaction that is not authorized because of a hold.
d. Merchant acceptance of your Card. We have no liability or responsibility if, for any reason, your Card is not honored for all or part of a transaction at any establishment or the merchant fails to abide by the applicable network rules and regulations when accepting your Card.
e. Refunds, stop payments and merchant disputes. You do not receive cash refunds for returns of merchandise or services purchased using your Card. When a merchant gives you a refund for a purchase made using your Card, the refund is credited back to your account and will appear on your next statement, if applicable. You may not place a stop payment on a purchase transaction. You should settle any disputes you have about goods or services you purchase using your Card directly with the merchant. If a merchant misrepresents the quality, price, or warranty of goods and services you purchase using your Card, we are not liable to you or responsible for any damages or losses that result from the merchant’s misrepresentation.
8. Foreign Transactions
If you use your Card to purchase goods or services in a foreign currency or in U.S. dollars with a foreign merchant (a “Foreign Transaction”), we will assess an International Transaction Fee. Any International Transaction Fee will be shown in the transaction section of your monthly Account statement or in your Account history. Please note that Foreign Transactions include U.S. internet transactions made in the U.S. but with a foreign merchant. If the Foreign Transaction is made in U.S. dollars, the International Transaction Fee will be the percentage of that U.S. dollar amount as disclosed in the Fee Schedule. If the Foreign Transaction is made in a foreign currency, the applicable payment network will convert the transaction into a U.S. dollar amount, and the International Transaction Fee will be the percentage of that converted U.S. dollar amount as disclosed in the Fee Schedule. If you use your Card to obtain foreign currency from an ATM, the applicable payment network will convert the transaction into a U.S. dollar amount, and the International ATM Currency Conversion Fee will be a percentage of the transaction amount, plus a per transaction charge at a non-partner ATM as disclosed in the Fee Schedule; other ATM fees may apply per the Fee Schedule.
The currency conversion rate used by Visa® will be either (1) a rate selected by Visa® from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may differ from the rate Visa® receives, or (2) a government-mandated rate in effect for the central processing date. The currency conversion rate used by MasterCard® will be either (1) a wholesale market rate selected by MasterCard®, or (2) a government-mandated rate. The rate used by Visa® or MasterCard® on the processing date may differ from the rate on the date of your transaction.
9. Funds Loaded to Your Card and Funds Availability
a. When Funds are Available for Withdrawal. Funds are available for your use on the day we have been instructed by your sponsor to fund your Card. Once the funds are available, you may make the transactions described within this Agreement. Funds received by us may be delayed for a longer period if there is an emergency, such as failure of computer or communications equipment.
b. Overpayments and Reversals. If funds to which you are not entitled are loaded to your Card by mistake or otherwise, we may deduct these funds from your Card. If there are not enough funds, we may overdraw your Card. We can do this without giving you any prior notice or demand. Your sponsor maintains ownership of the funds on the Card and has the right to remove any and all funds from the card, with or without prior notice.
c. “Freezing” Your Card. If we suspect irregular, unauthorized, or unlawful activities may be involved with your Card, we may “freeze” (or place a hold on) the balance pending an investigation of such suspected activities. If we freeze your Card, we will give you any notice required by law. Your sponsor may also request that your card be suspended or closed at any time, without any prior notice.
10. No Preauthorized Transactions
You may not make pre-authorized regular payments through the use of your Card.
11. Overdrafts and Unposted Transactions
When you do not have enough available funds on your Card to cover everyday non-recurring Card purchases or ATM withdrawals, we will decline the transaction and you will not be subject to overdraft fees. Please review the Schedule of bank fees carefully. If use of your Card results in an overdraft on your account, you agree to immediately repay us the amount of the overdraft. If your Card is closed, leaving outstanding but unposted transactions originated by using the Card, you agree to immediately repay us the amount of these outstanding transactions.
12. Right to Receive Documentation of Transactions
a. Terminal Receipts. You usually can get a receipt at the time you make any transaction with your Card at an ATM, OTC or point-of-sale terminal; except that you may not get a receipt if the amount of the transaction is $15 or less. ATM receipts are not final because each transaction is subject to verification by us. If the receipt and our records conflict, our records will govern.
b. Preauthorized Credits. You can call us at 1.866.213.8564, 1.866.656.5913 TTY, or 423.262.1650 (Collect, when calling outside the U.S.), to find out whether or not a direct deposit has been made.
c. Delivery of Statements and Notices. If you request to receive your monthly Account statement by mail, we will deliver it to the last address we have on our records for you. You agree to notify us promptly, in writing, at the address listed in this Section 19 below, of any change of address or you may change your address online at www.bankofamerica.com/commercialprepaidcard. If you receive your monthly Account statement by mail, you may request that rather than receiving it by mail, you may review it electronically. If you wish to do so, you may make this request online at www.bankofamerica.com/commercialprepaidcard or you may contact the Customer Service Center at the address or phone number below.
CARDHOLDERS WHO DO NOT RECEIVE MONTHLY ACCOUNT STATEMENTS BY MAIL
Access to Your Account Information. You may obtain information about the amount of money you have remaining in your Account by calling 1.866.213.8564, 1.866.656.5913 TTY, or 423.262.1650 (Collect, when calling outside the U.S.). This information, along with a 60-day history of Account transactions, is also available online at www.bankofamerica.com/commercialprepaidcard. You also have the right to obtain a 60-day written history of Account transactions by calling 1.866.213.8564, 1.866.656.5913 TTY, or 423.262.1650 (Collect, when calling outside the U.S.), or writing to us at: Bank of America, P.O. Box 8488 , Gray, TN 37615-8488
Prompt Review of Account Information. You agree to promptly review your Account information and to notify the Customer Service Center at the address or phone number above at once if any Account information shows transactions that you did not make or authorize. Section 19 below has more specific information about disputing transactions, fees, or errors.
CARDHOLDERS WHO RECEIVE MONTHLY ACCOUNT STATEMENTS BY MAIL
Monthly Card Account Statements. Upon your request, we will provide you with an Account statement monthly for every month in which your Account is open. The statement will include information about the transactions you made, deposits, fees and adjustments to your Account. A fee may apply to receive a monthly paper statement. For more information see your Schedule of bank fees.
Prompt Review of Statements. You agree to promptly review your monthly Account statements and to notify the Customer Service Center at the address or phone number above at once if any statement shows transactions that you did not make or authorize. Section 19 below has more specific information about disputing transactions, fees, or errors shown on your monthly Account statement.
Business Days. For purposes of this Agreement, our business days are Monday through Friday, excluding federal holidays.
13. Electronic Banking Fees
We charge fees for electronic banking services to your deposit account. The ATM and other fees that apply are listed in the Schedule of bank fees. We may also charge you a handling fee if you request a special service.
14. Privacy Policy and Disclosure of Card Information to Third Parties
Below, we describe the situations when we may disclose information about your Card, including some examples.
With respect to any information we collect from you as a result of your Card, we will only share such information related to your Account, from time to time, subject to any applicable financial privacy laws or other laws or regulations, (a) where it is necessary for completing transactions; (b) in response to any subpoena, summons, court or administrative order, or other legal process which we believe requires our compliance; (c) in connection with collection of indebtedness or to report losses incurred by us; (d) in compliance with any agreement between us and a professional, regulatory or disciplinary body; (e) in connection with potential sales of businesses; (f) to service providers who help us meet your needs by assisting us in providing the services under this Agreement and (g) to our employees, auditors, affiliates, or attorneys as needed; and (i) as otherwise provided or allowed by law and the Bank’s privacy policy.
14. EXCHANGE OF INFORMATION BETWEEN BANK & YOUR EMPLOYER
Information concerning your use of the Card (including, without limitation, transaction information) and other Account information may be furnished by Bank to your Employer. Information concerning reimbursement received, employment status, and personal information necessary to enforce this Agreement may be furnished by your Employer to Bank.
15. SHARING INFORMATION
Bank shares information with its affiliates and others as described below:
A. Sharing Information with Affiliates and subsidiaries of Bank.
We may share information that is solely about our transactions or experiences regarding you or the Account (”Experience Information”) with our affiliates and others such as Visa, MasterCard We may also share with our affiliates non-experience information (“Non-Experience Information”) such as information contained in the card request or obtained by Bank from other sources
B. Sharing Information with Companies that Work for Bank.
We may occasionally share information with outside companies that work for us. These companies work on our behalf and are obligated to keep the information that Bank provides to them confidential.
16. LIMITATION OF BANK LIABILITY BANK SHALL NOT BE LIABLE FOR ANY ACTION TAKEN OR OMITTED TO BE TAKEN IN CONNECTION WITH THIS AGREEMENT EXCEPT FOR DIRECT DAMAGES ARISING FROM BANKS GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT. IN NO EVENT SHALL BANK BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES OR LOST PROFITS OR LOST DATA.
17. USA PATRIOT ACT
Bank of America, like all financial institutions, is required by Federal law to obtain, verify, and record information that identifies each cardholder that receives a card from us. When you receive a card from us, we will ask you for your name, address and other information that will allow us to identify you. We may also ask to see your photo identification or other identifying documents.
18. MISCELLANEOUS
If any part of this Agreement is found to be invalid, the remaining provisions will continue to be effective. You must notify Bank in writing immediately if you change your name, address, or home or business telephone number. The section headings are inserted only for convenience and are not to be interpreted as part of this Agreement.
19. Electronic Funds Transfer Rights
a. Bank of America’s “Zero Liability” Policy for Unauthorized Transactions.
Federal law (described in paragraph (b) below, Regulation E Liability Disclosure) may limit your liability for unauthorized transactions on your Account, but you may still be liable in some circumstances. Under the Bank of America “zero liability” policy, you may incur no liability for unauthorized use of your Card up to the amount of the unauthorized transaction, provided you notify us within a reasonable time of the loss or theft of your Card, Card number or PIN or its unauthorized use, subject to the following terms and conditions:
Excluded transactions. Our zero liability policy does not apply to any unauthorized electronic fund transfer on an account which does not involve use of a Card or Card number.
“Unauthorized” defined. A transaction is considered “unauthorized” if it is initiated by someone other than you (the cardholder) without your actual or apparent authority, and you receive no benefit from the transaction. A transaction is not considered “unauthorized” if 1) you furnish your Card, Card number or other identifying information to another person and expressly or implicitly give that individual authority to perform one or more transactions, and the person then exceeds that authority, or 2) for any other reason we conclude that the facts and circumstances do not reasonably support a claim of unauthorized use.
“Reasonable” time defined. Reasonable time will be determined in our sole discretion based on the circumstances but will not be less than the time frames specified under the Electronic Fund Transfer Act or Regulation E (see the Regulation E Liability Disclosure in paragraph (b) below).
Other considerations. We may ask you for a written statement, affidavit or other information necessary to support your claim. If you do not provide the requested materials within the time requested or within a reasonable time if no date is stated ,and we have no knowledge of the facts or other documentation to further investigate or confirm your claim, we may deny your claim.
Limitation of our Liability. Our liability under this policy is limited to reimbursing you for the amount of your loss up to the face amount of any unauthorized card transaction covered by this policy. We are not liable for any claims, losses or damages that arise out of your misuse of the Card. We are not liable for any claims of special, indirect or consequential damages.
Your rights under Regulation E. If your claim does not meet the prescribed conditions for reimbursement under the above policy, you still retain any consumer rights you may have under Regulation E, as described in paragraph (b) below, and we will automatically re-examine the claim in accordance with those rights.
b. Regulation E Liability Disclosure; Your Liability in Case of Loss, Theft, or Unauthorized Transactions.
Contact Us Promptly. Please contact us at the numbers listed below AT ONCE if you believe your Card has been lost or stolen, or if you believe that someone may use or has used your PIN assigned to your Card without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your Account. If you tell us within two business days after you learn of the loss or theft, you can lose no more than $50 for an unauthorized transaction or a series of related unauthorized transfers should someone use your Card or PIN.
If you do NOT tell us within two business days after you learn of the loss or theft of your Card or PIN and we can prove we could have stopped someone from using your Card or PIN without your permission if you had told us, you could lose as much as $500. Also, if your monthly Account statement or your Account history shows transfers that you did not make, including those made by your Card, Card number, PIN or other means, tell us at once.
If you receive a monthly Account statement and you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had contacted us on time.
If you do not receive a monthly Account statement and do not tell us within 60 days after the earlier of the date you electronically access your 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 (but in any event within 120 days after the transaction allegedly in error was credited or debited to your Account), you may not get back any money you lost after the applicable 60 or 120 day period if we can prove that we could have stopped someone from taking the money if you had contacted us on time.
If a good reason (such as a long trip or hospital stay) keeps you from notifying us, we will extend the time periods.
NOTE: These liability rules are established by Regulation E which covers accounts that involve the use of a Card. Our Zero Liability policy, as described in paragraph (a) above, regarding unauthorized transactions may give you more protection, provided you report the transactions promptly. In Massachusetts, the two day and 60 day time limits for reporting unauthorized transactions do not apply and the $500 limit does not apply. You should also note that when you give someone your Card or PIN, you are authorizing that person to use your Card and you are responsible for all transactions that person performs with your Card or PIN. These transactions are authorized transactions. Transactions are considered unauthorized only after you notify us that the person is no longer authorized. Remember, do not write your PIN on your Card or carry your PIN with you. This reduces the possibility of someone using your Card without your permission if it is lost or stolen.
c. Our liability for failure to complete transactions. The following description of our liability to you is not meant to be a full explanation of either your or our legal rights or obligations, which may vary, depending on applicable laws. There may also be other exceptions not specifically mentioned below.
If we do not complete a transfer to or from your account 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. The following is a non-exhaustive list of exceptions where we will not be liable:
• If, through no fault of ours, you do not have enough available funds in your account to complete the transaction;
• If the machine where you are making the transaction does not have enough cash;
• If the ATM, terminal or system was not working properly and you knew about the breakdown when you started the transaction;
• If circumstances beyond our control (such as power outages, equipment failures, fire or flood) prevent the transaction, despite reasonable precautions that we have taken to avoid these circumstances;
• If your Card or PIN has been reported to be, or suspected of being, lost or stolen, and we have taken action to prevent transactions with the Card or PIN;
• If your account is subject to some legal process, right of setoff or encumbrance restricting the transaction, or if the funds in your account are not immediately available for completing a transaction.
d. Error Resolution.
In Case of Errors or Questions About Your Transactions:
Telephone us at: 1.866.213.8564, 1.866.656.5913 TTY, or
423.262.1650
(Collect, when calling outside the U.S.)
Or write to:
Bank of America
P.O. Box 8488
Gray, TN 37615-8488
CARDHOLDERS WHO RECEIVE MONTHLY ACCOUNT STATEMENTS BY MAIL
Call or write as soon as you can if you think your monthly Account statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
CARDHOLDERS WHO DO NOT RECEIVE MONTHLY ACCOUNT STATEMENTS BY MAIL
Call or write as soon as you can if you think an error has occurred in your Account. We must allow you to report an error until 60 days after the earlier of the date you electronically access your 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; but in any event you must report the error no more than 120 days after the transaction allegedly in error was credited or debited to your Account. You may request a written history of your transactions at any time by calling or writing to us at the numbers and address listed above.
WHAT WE NEED TO KNOW ABOUT THE POTENTIAL ERROR
When you call or write to us about a potential error, you should:
(a) Tell us your name and Card account number.
(b) Describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
(c) Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send your complaint or question in writing within 10 business days.
WHEN YOU WILL HEAR FROM US
We will determine whether an error occurred within 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 45 days to investigate your complaint or question. If we decide to do this, we will credit your Account within 10 business days for the amount you think is in error, so that you will have the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your Account.
For errors involving new accounts, POS, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your Account for the amount you think is in error.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. 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 or write to us using the contact information listed above.
20. Security
a. Confidentiality of your PIN. You agree not to disclose to anyone the PIN furnished by us or selected by you to be used with the Card.
b. ATM Safety.
Please refer to the safety tips found on the mailer that came with your Card for using your Card at ATMs.
NOTICE: As part of the security system to help protect your Card and PIN, we may use hidden cameras and other security devices at some ATMs to determine who is using a Card at an ATM.
21. Amendments/Expiration/Termination
Amendments. We may, at any time, change the terms and conditions in this Agreement, including the amount of any fee. We may add new terms and conditions and we may delete or amend existing terms and conditions. We generally send you advance notice of an adverse change. If a change is not adverse to you, however, we may make the change at any time without advance notice. If you continue to use your Card, you agree to the revised agreement. If you do not agree, you must cancel this Card Agreement by notice to us and destroy your Card(s).
Card Expiration. Your Card expires on the date listed on the front of your Card. If a balance remains on your personal Card after expiration, your sponsor may provide a replacement card or the remaining balance may be sent to you in the form of a check less the Check Issuance Fee, if applicable.
22. Our Right to Cancel or Block Your Card
We may decide not to issue or renew a Card and we may cancel or suspend your Card privileges or close your Card with or without cause or notice, other than that required by federal or state law.
Your Employer or Bank may suspend or cancel the Card at any time for any reason. You agree to surrender the Card upon request to your Employer or to any authorized representative of Bank. Use of the Card or Account after notification of its cancellation may be fraudulent and may result in Bank taking legal action against you.
If the Card is used other than as permitted by this Card Agreement, we may at our option and without waiving any rights, complete the transactions and debit or credit your account accordingly. The cancellation of Card privileges does not affect other terms of your Card Agreement.
If we reinstate your Card privileges, this Card Agreement is also automatically reinstated.
If the Card we send you is returned undelivered or if your Card or PIN is reported as lost or stolen, we may restrict use of any Card with the same numbers.
We may close or suspend your Card at any time, including if you have not made any transactions using your Card for a period of time no less than 180 days.
Your Closure of Your Card Account. You may close your prepaid account at any time. If, at the time you close your Account, all transactions have cleared and there is no remaining balance, your Account will be closed to further use. You understand that you are responsible for negative balances that occur after your notice of closure to the same extent as provided in this Agreement for an open Account. You agree to destroy your Card after closure.
RENEWAL AND REPLACEMENT CARDS
Unless cancelled, the Card will be valid until the expiration date which is printed on the Card. Bank will continue to issue renewal or replacement Cards as long as the Card and Account is in good standing, or until you or your Employer tells Bank to cancel the Card or the Account.
23. General Terms
a. Waiver and severability. You waive and release us from any obligations that could arise due to defenses, rights and claims you have or may have against any third party on account of the use of the Card. We may delay enforcing our rights under this Card Agreement without losing them. If we waive a provision of this Card Agreement, the waiver applies only in the specific instance in which we decide to waive the provision and not to future situations or other provisions.
If any part of this Card Agreement is inconsistent with any applicable law, then to the extent the law can be amended by contract, you and we agree that this Card Agreement governs and that the law is amended by this Card Agreement. A determination that any part of this Card Agreement is invalid or unenforceable will not affect the remainder of this Card Agreement.
b. Sales drafts/debit slips. We report Card transactions on your prepaid card account statement, if you receive one, or your electronic transaction history. We do not return copies of sales drafts or debit slips or other items related to the use of the Card. You may obtain a copy of a sales draft or debit slip upon your prompt request.
c. Information inquiries. You authorize us to make, from time to time, such employment and
investigative inquiries as we deem appropriate in connection with the issuance and use of your Card. We may furnish information concerning your Card or transaction history to appropriate agencies and others who may properly receive that information.
d. Legal transactions. You agree that you will only use the Card for transactions that are legal. You agree that you will not use your Card for any illegal transactions or activity, for example those prohibited by the Unlawful Internet Gambling Enforcement Act, 31 U.S.C. Section 5361, et seq. Display of a Visa®, MasterCard® or other payment card logo by an on-line merchant does not mean that an internet transaction is legal where you conduct it. You agree that we may charge your account for such transactions and that we are not liable to you if you engage in an illegal transaction. You agree that we may decline transactions we believe may be illegal or in violation of the applicable network rules For example, we reserve the right to decline transactions with merchants we have identified as gambling establishments but we are not obligated to do so. If we do not decline such transactions, you authorize us to deduct the amount of such transactions from your account.
24. Governing Laws/Severability
This Agreement will be governed by the laws and regulations of the United States and, to the extent not so covered, by the laws and regulations of the State of North Carolina. A determination that any part of this Agreement is invalid or unenforceable will not affect the remainder of this Agreement. If state and federal laws are inconsistent or if state law is preempted by federal law, federal law governs.
25. Telephone Number and Address to Be Notified in Event of Unauthorized Transfer and Lost or Stolen Bank of America Prepaid Card
If you believe your Card is lost or stolen, your PIN has been discovered, or that someone has transferred or may transfer money from your account without your permission, you must notify us immediately by calling the number listed below. If unauthorized activity occurs, you agree to cooperate during the investigation and to complete a Lost/Stolen Card and Fraud Claims Report or similar affidavit.
Telephone:
1.866.213.8564
1.866.656.5913 TTY
423.262.1650 (Collect, when calling outside the U.S.)
Or write to:
Bank of America
P.O. Box 8488
Gray, TN 37615-8488 You may contact us 24 hours a day/365 days per year.
26. Claims by Third Parties Against Your Account
Claims or Disputes by Third Parties Concerning Your Account. If a third party makes a claim against funds in your Account, or if we have reason to believe there is or may be a dispute over matters such as the ownership of your Account or the authority to withdraw funds, we may, in our sole discretion, (a) continue to rely on current Account documents, (b) honor the competing claim upon receipt of evidence we deem satisfactory to justify such action, (c) freeze all or part of the funds until the dispute is resolved to our satisfaction, or (d) pay the funds into an appropriate court of law for resolution.
Liens and Attachments. Following receipt by us of any notice of lien, process in attachment, garnishment or other proceeding relating to you or your Account, we are authorized, without notice to you, unless otherwise required by law, to withhold transfer of so much of the balance of your Account as may be the subject of such notice or process, and to pay such amount to the court or creditor, in accordance with applicable state or federal law, without responsibility to you for such withholding or payment or for refusal to honor transfers made by you.
27. Schedule of Bank Fees
Bank fees associated with your Card, including any monthly fees, are listed in the Fee Schedule. You agree to pay all of these fees which will be taken from the balance of your Account as they apply. These fees are imposed by us and retained by us. In addition, when you make a withdrawal at certain ATMs or point-of- sale terminals, the owner may charge you a “convenience fee” or “surcharge fee” for using that device. If the owner does charge such a fee, you will be notified of the amount of that fee before you complete the transaction and you may cancel the transaction before the fee is assessed.
28. Recording and Monitoring Telephone Calls
We may record or monitor telephone calls between you and us. We need not remind you of our recording or monitoring before each call unless required to do so by law.
29. English Document Controlling.
As a service we provide to you at your request, we may communicate certain information to you in Spanish. Any legal clarifications which may need to be made will be based on the use and application of the English versions, including but not limited to this Agreement and the Fee Schedule.