MoneyPod Account Agreement
Section I. Definitions
In this MoneyPod Account Agreement (“Agreement”), “Account” means the account established in connection with your MoneyPod Card. “Card” means the MoneyPod card issued to you by Customers Bank (“Issuer”), as a Visa® general-purpose reloadable card holding the associated balance of the Account. The Issuer is an FDIC-insured member institution.
Except as otherwise expressly stated in this Agreement, “Account” means both an Account and a Companion Account (as defined below) and “Card” means both a Card for an Account and a Card for a Companion Account (as defined below).
The words “you”, “your” and “yours” in this Agreement mean the person(s) who has received the Card or is authorized to use the Card or Account as described below.
The words “we”, “us” and “our” mean Customers Bank, our successors, affiliates or assignees.
“MoneyPod” means the program manager who provides services for your Account. MoneyPod is a registered agent of Customers Bank.
“MoneyPod Site” means the MoneyPod mobile app or the MoneyPod website (www.getmoneypod.com) you use to access and manage your Card and Account and to perform certain actions such as initiate payments and make deposits and withdrawals.
“Business Day” means Monday through Friday, not including federal holidays.
Section II. General Terms
By signing, activating, accepting or using the Card or Account, you agree to be bound by the terms and conditions contained in this Agreement which govern the use of the Card and the Account. You agree that all the information you provide is accurate and truthful. Read this Agreement thoroughly before using the Card or Account and keep it for future reference.
This Agreement contains the terms that apply to your Card and Account; the Card and Account may be used only in the manner and for the purposes authorized by this Agreement.
Important Information about Procedures for Opening your New 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 an Account.
What this means for you: When you open an Account, we will ask for your name, address, date of birth and other information that will allow us to identify you.
In order to open an Account and receive a Card, you must be a resident of the United States and be at least 18 years old (except for certain Companion Accounts which may be opened for a child who is between 13 and 18 years old). If you allow someone else to use your Card or Account, you are responsible and liable for all transactions, withdrawals, deposits and fees that arise out of such use.
You may not use the Card, Account, Companion Card or Companion Account for any illegal purpose, including the purchase of illegal goods or services. You agree to take steps to ensure that the Card, Account, Companion Card and Companion Account are not used for any transaction that is illegal under the laws governing your Account. We reserve the right to deny transactions or authorizations from merchants apparently engaging in the Internet gambling business or identifying themselves through the Card transactions record or otherwise as engaged in such business. Additionally, we reserve the right to otherwise block or deny transactions from any merchant as we deem fit, with or without notice.
Primary and Joint Account holders
The Primary Accountholder is the person who first applies for and opens an Account. The Primary Accountholder may request to add one Joint Accountholder to the Account. A Joint Accountholder must be at least 18 years old and a resident of the United States. A Primary Accountholder and a Joint Accountholder are each an “Accountholder”.
The Joint Accountholder will receive a separate Card, but the Accountholders have the same Account. Both Accountholders are each bound by the terms of this Agreement, and each of you is responsible for the use of the Card and Account. Any limits on transactions, deposits or transfers, any Account management or maintenance activities or any other actions taken in connection with the Account apply to the Account and not separately to the individual Accountholders. All activity for each Card will appear together under the same Account in the MoneyPod Site and on the monthly statement.
Each Accountholder may request up to a total of three (3) Companion Accounts, and there will be one Companion Card issued for each Companion Account. There are two types of Companion Accounts.
The first type of Companion Account allows an Accountholder to allocate funds for a specific purpose, such as for entertainment, travel, emergencies or other purposes, subject to the terms and conditions of this Agreement. For this type of Companion Account, the Companion Accountholder must be at least 18 years old and a resident of the United States. Funds are added to this type of Companion Account by any method described in the “Adding Funds and Limitations” section of this Agreement, and funds will need to be added to the Companion Account before using the Companion Card. You may set up a Companion Account for a specific purpose, but we will not limit the use of the Companion Account or Companion Card and you are solely responsible for determining the purpose and use of the Companion Account and Companion Card, subject to the limitations, terms and conditions in this Agreement.
The second type of Companion Account allows an Accountholder who is a parent or legal guardian of a child who is between 13 years old and 18 years old to establish a Companion Account for that child. If you open a Companion Account for a child, you represent and agree that the child is at least 13 years old but not older than 18 years old and that you are the parent or legal guardian of such child. This type of Companion Account is funded solely from transfers from the Accountholder’s Account. Funds cannot be added to this type of Companion Account via direct deposit, linking a bank account at another financial institution, mobile check deposit or payment from another MoneyPod Account.
Except as otherwise stated, both types of Companion Accounts are subject to the terms, conditions and limitations in this Agreement. The funds in a Companion Account are separate from the funds in the Accountholder’s Account, and a Companion Card can only access funds in the associated Companion Account. Limits on purchases and cash withdrawals for a Companion Account may be different than the limits for the Accountholder’s Account. Any limits on adding funds, purchases, cash withdrawals, payments and transfer of funds apply to the aggregated activity of the Accountholder’s Account and any Companion Account(s) established for a child(ren).
Companion Accounts cannot have a Joint Accountholder. The Accountholder who establishes a Companion Account is liable for all transactions, withdrawals, deposits and fees arising from the use of any Companion Card or Companion Account. Companion Account activity (for example, purchases, withdrawals, deposits and transfers) will be displayed separately in the MoneyPod Site and on the monthly statement from activity of other Accounts. An Accountholder who establishes a Companion Account for a child has access to and can view all transactions on that Companion Account. Notifications related to a Companion Account(s) will be separate from the notifications the Accountholder receives related to the Accountholder’s other Account(s).
Section III. Card Description, Activating the Card, Card Expiration
The Card is a proprietary Visa general-purpose prepaid card. The Card accesses funds previously loaded in the Account.
The Card is not directly linked to any checking or credit card account, except if you link your Card to your bank account at another financial institution as described in the “Adding funds by linking your bank account” section of this Agreement.
The Card is neither a gift card nor a credit card. The funds reserved to the Card are FDIC-insured to the extent applicable to the Account. The funds in the Account do not earn interest.
Activating the Card and obtaining a PIN
When you receive your Card and before you can use it, you will need to activate your Card on the MoneyPod Site or by calling the number on the sticker on the front of your new Card. If there is a Joint Accountholder or a Companion Account, each Card will need to be activated before it can be used.
You may select a Personal Identification Number (PIN), which will allow use of the Card at an ATM and at merchants that accept a PIN to complete your purchase. If there is a Joint Accountholder or a Companion Account, each Card will have a separate PIN. You can select or change a PIN for your Card on the MoneyPod Site or by calling the customer service number on the back of your Card.
The Card and PIN are provided for your use and protection, and you agree to:
1. Not disclose the PIN or record it on the Card or otherwise make it available to anyone else;
2. Use the Card and PIN at any ATM or point of sale terminal as instructed;
3. Promptly notify us of any loss or theft of the Card or PIN;
4. Be liable for any transaction made by a person you authorize or permit to use the Card and/or PIN.
If you believe anyone has gained unauthorized access to your Card or PIN, you should contact us immediately as described in the “Unauthorized Transfers” section of this Agreement. Waiting to contact us may impact your liability for unauthorized transactions, as described in the “Unauthorized Transfers” section of this Agreement.
An expiration date is printed on the Card, and you may not use the Card after the expiration date passes. You should receive a replacement Card(s) from us before the expiration date passes. The funds in your Account do not expire and are still valid even if your Card expires.
Section IV. Adding Funds and Limitations
Funds can be added by:
1. Having all or a portion of your paycheck or other regular payment from an appropriate payor directly deposited to your Account using the Automated Clearing House (“ACH”) system;
2. Linking your bank account at another financial institution to your Account;
3. Depositing checks via the mobile check deposit process;
4. Transferring funds between your MoneyPod Accounts, if you have more than one Account; and
5. Receiving a payment from another MoneyPod Accountholder.
Limits on adding funds: The maximum Account value at any one time is $10,000 excluding ACH deposits which may cause the Account value to exceed $10,000. If the Account has $10,000 available, additional amounts excluding ACH deposits may not be added to the Account.
Except for ACH deposits, the maximum amount that can be loaded to the Account at any one time is $5,000 and no more than $25,000 in a 30 day period. For security and fraud protection there may be more restrictive limits for each type of funding method.
Adding funds by direct deposit
You can have all or a portion of your paycheck or funds from another appropriate payor deposited directly to your Account. To arrange direct deposit, you will need to provide your employer or payor with the Direct Deposit form available on the MoneyPod Site. Alternatively, you can use a direct deposit form provided by your employer or the payor.
If you arrange to have direct deposits made to your Account at least once every 60 days from the same employer or payor, your employer or the payor will tell you every time they send us the money. You can also check your Account statements or Account deposit details on the MoneyPod Site or you can call us at 877-668-5800 to see if the direct deposit has been made.
If you want to cancel direct deposit, you should contact your employer or the applicable payor.
Direct deposit funds will generally be available on the Business Day we receive the transfer. We reserve the right to accept, limit or reject direct deposit transfers.
Adding funds by linking your bank account
You can link your eligible checking or savings account at another financial institution (“Bank Account”) to your Account and transfer funds from your Bank Account to your Account via an ACH transaction. You can either authorize each transfer separately or you can pre-authorize recurring transfers. Visit the MoneyPod Site to link your Bank Account and set up pre-authorized recurring transfers.
If you link your Bank Account to your Account, you agree that:
1. You are the owner of the Bank Account;
2. You are authorized to withdraw funds from that Bank Account; and
3. You authorize us to initiate debits from your Bank Account according to your instructions.
When you provide us with your Bank Account information to add funds to your Account, we will verify your identity and your ability to access the Bank Account. You agree to assist us and our service provider in validating your Bank Account.
To set up pre-authorized recurring transfers, you tell us the amount of funds you want to have transferred from your Bank Account to your Account when your Account balance falls below a dollar amount you choose. The recurring transfer amount cannot be less than the minimum Account balance you choose. If you pre-authorize recurring transactions from your Bank Account, we will automatically initiate a transfer of funds based on your instructions (as long as there are funds available in the Bank Account you linked to your Account and the transfer will not exceed the limits described below). By establishing a pre-authorized recurring transfer, you agree to maintain sufficient funds in your Bank Account to cover each transfer. You agree that neither we nor MoneyPod will be responsible if any transfer to your Account results in a negative balance in your Bank Account or if your Bank Account is charged an overdraft, nonsufficient funds or any other fee or charge as a result of the transfer.
Your ACH authorization will remain in full force and effect until you cancel the ACH authorization by unlinking your Bank Account or by cancelling or changing your authorization for recurring transactions. You can unlink your Bank Account or change or cancel your authorization on the MoneyPod Site. If you cancel your authorization, you will give us enough time to act on your cancellation. By entering your Bank Account information on the MoneyPod Site, you have signed this ACH authorization and you should print and save a copy of it.
Funds transferred from your linked Bank Account will generally be available within five (5) Business Days after the transfer is initiated. The maximum amount that can be transferred from your linked Bank Account at any one time is $200 and no more than $200 per day. You cannot transfer more than $1,000 in a 30 day period from your linked Bank Account.
Adding funds by mobile check deposit
To access the mobile check deposit service through the MoneyPod mobile app, you must supply (at your own cost) a mobile device with a functioning camera and you must download the MoneyPod mobile app to your mobile device. We may disable the mobile check deposit functionality within the MoneyPod mobile app at our sole discretion.
The Mobile Check Deposit Service Provider may impose limits on the dollar amounts you can deposit using their service. The limits are described in the Mobile Check Deposit Service Provider’s terms and conditions. We or the Mobile Check Deposit Service Provider may reject any mobile check deposit that exceeds these limits.
The Mobile Check Deposit Service Provider may charge you a fee when you use their service, depending on how quickly you want to have the funds deposited in your Account. The Mobile Check Deposit Service Provider’s terms and conditions disclose the applicable fees and when the funds will be available in your Account.
If you have any questions or problems related to your mobile check deposit, you may contact us by calling 877-668-5800 or sending a message to firstname.lastname@example.org and we will connect you to Ingo Money.
Section V. Using the Card, Payments and Limitations
You may use the Card and Account to:
1. Pay for purchases of goods or services at merchants who accept Visa, Interlink or Maestro branded debit cards, and have agreed to accept the Card for point-of-sale-transactions;
2. Obtain cash at financial institutions that accept Visa debit cards;
3. Perform transactions at automated teller machines (“ATM”) that display the MoneyPass, Visa or Plus logo;
4. Obtain cash from merchants that provide a cash back service as part of your purchase transaction;
5. Access customer service through the MoneyPod Site, by sending us a message at email@example.com, or by calling toll free at 877-668-5800; and
6. Access the MoneyPod Site to:
- Obtain balances, review recent transaction history, request transaction statements, manage your Account and view legal agreements and disclosures;
- Make MoneyPod account to MoneyPod account transfers of money;
- Pay bills through our bill payment service;
- Mail a check to a person;
- Transfer money between your Account and an eligible linked Bank Account;
- Obtain information to set up direct deposit;
- Deposit checks (MoneyPod mobile app only); and
- View the nearest MoneyPass fee-free ATM.
Each time the Card is used, the amount of the transaction will be debited from the Account balance. You may not exceed the Account balance available in the Account by any individual or series of transactions. If you conduct a transaction which exceeds the Account balance, you remain fully responsible for either the amount of the transaction approved or the cash withdrawn. You agree to immediately add funds to the Account for all transactions exceeding the Account balance. We may recover the negative balance amount from future funds added to your Account or any Account, including a Companion Account, you maintain with us. We have the right to pursue collection of any negative balance amount. We reserve the right to permanently close the Card and Account at any time.
Using the Card to make purchases
For security and fraud protection, there is a limit on the dollar amount you can spend in a purchase transaction and there is a limit on the total dollar amount you can spend in purchase transactions over a period of time. The maximum amount allowable for purchases is $5,000 per transaction and $25,000 per 30 day period.
You can use your Card or your 16 digit Card Account number to make purchases of good and services wherever Visa, Interlink or Maestro branded debit cards are accepted, including online merchants. If you do not have a sufficient balance in your Account at the time of purchase, we will decline the purchase authorization request from the merchant.
You may not be able to use the Card to make a hotel or car rental reservation, but you can use the Card to pay for your hotel stay upon checkout and your car rental when you return the car.
When the Card is used to obtain goods or services or to obtain cash, the merchant may attempt to obtain preauthorization from the Card for the transaction. A hold of up to seven (7) days may be placed on the Card for the amount of the preauthorization request. Certain types of transactions (like hotels and airlines) may have up to a 30 Business Day hold. If the preauthorization amount varies from the actual transaction amount, the preauthorization hold amount may remain on the Card until the required number of days expires. As a result, subsequent preauthorization requests against the hold amount may cause the transaction to be declined.
A preauthorization amount may differ from the actual transaction amount if the final amount of the transaction is unknown, such as when dispensing fuel or adding a tip at a restaurant. For some transactions, we will hold more than your purchase amount where the final purchase amount is unknown at the time of authorization. For gas purchases at the pump, we will hold $75 at the time of authorization. If you don’t want this amount held against your available Account balance, then please go inside the gas station to make your gas purchase. For restaurant, beauty and barber shops, health and beauty spas, and taxis and limousines, we will hold an additional 20% of your purchase amount. For cruise line, hotel and car rental transactions, we will hold an additional 15% of your purchase amount. The authorized purchase amount, which may include the additional held amounts described above, will be released when we receive and process the final purchase amount. Until the final purchase amount is received and processed, the held amounts will not be available for your use.
Using the Card to withdraw cash
For security and fraud protection, there is a limit on the dollar amount of cash withdrawals you can make per day and there is a limit on the total dollar amount of cash withdrawals you can make over a period of time. The maximum amount allowable for cash withdrawal at an ATM is $300 per transaction and $600 per day. The maximum amount allowable for cash withdrawal at a bank teller at a financial institution is $1,000 per transaction and $5,000 per 30 day period. The maximum amount allowable for cash back as part of your purchase transaction at a merchant is $100 per transaction and $500 per 30 day period. You can use your Card to withdraw cash from ATMs that display the MoneyPass, Visa or Plus logo, get cash from merchants that provide a cash back service as part of your purchase transaction, and get cash advances from a bank teller at financial institutions that accept Visa debit cards. There is no fee for withdrawing cash at an ATM in the MoneyPass network. If you withdraw cash from an ATM outside the MoneyPass network, there may be a fee from us and a separate fee from the ATM owner. Refer to Fees for a description of applicable fees for cash withdrawals from a bank teller at a financial institution and from ATMs.
Using the Card to transfer funds to your linked Bank Account
For security and fraud protection, there is a limit on the dollar amount you can transfer from your Account to your linked Bank Account per day and there is a limit on the total dollar amount of transfers you can make over a period of time to your linked Bank Account. The maximum amount allowable for transferring to your linked Bank Account is $5,000 per transaction and $10,000 per 30 day period.
In the MoneyPod Site you can authorize us to transfer funds from your Account to your Bank Account via an ACH transaction. These are one-time transfers, and you will need to authorize each transfer separately.
Conversion to U.S. Dollars
Transactions made in currencies other than U.S. Dollars will be converted into U.S. Dollars. The exchange rate used to convert the currency used in an international transaction into the billing currency, shall, in each instance, be either a rate selected by Visa from the rates available in wholesale currency markets for the applicable processing date and may vary from the rate Visa itself receives, or the government-mandated rate in effect for the applicable processing date. Conversion to U.S. Dollars may occur on a date other than the date of the transaction, thus the actual conversion rate may differ from the rate in effect at the time of the transaction. You agree to pay the converted amount plus any applicable international purchase or ATM cash withdrawal fee. Refer to Fees for a description of applicable fees for International Debit Card Purchases or ATM Cash Withdrawals.
Using the bill payment service
You are responsible for all bill payments you authorize through the MoneyPod bill payment service. You authorize us to debit the amount of the payment from your Account. If there are not sufficient funds in your Account, we will not make the payment. The maximum amount allowable for bill payment is $5,000 per payment and $5,000 per day. The bill payment limits apply to the total dollar amount of payments you make from your Account through the bill payment service, through preauthorized payments to a merchant or a third party and through checks you request to be sent to an Individual Payee (defined below). You agree that we, in our sole discretion, may make the bill payment electronically via ACH or via paper check.
You can use the bill payment service in the MoneyPod Site to schedule one-time payments from your Account to merchants or service providers (each a “Payee”) that you select. You are responsible for scheduling payments far enough in advance so that the Payee is paid on time, and you are responsible for any late fees or finance charges that may be imposed as a result of your failure to schedule payments in a timely manner. There will be a delay between the date you schedule the payment to be made and the date the Payee receives the payment. Your Account balance will be reduced by the amount of your payment on the day your payment is scheduled to be sent to the Payee. Bill payments scheduled prior to 2:00PM (CT) on a Business Day will be processed on that Business Day. Bill payments scheduled after 2:00PM (CT) on a Business Day or scheduled on a non-Business Day will be processed the next Business Day.
You may cancel a bill payment before 2:00 PM (CT) on the day the payment is scheduled to be sent to the Payee by contacting us through the MoneyPod Site or by calling the number on the back of your Card. We must have a reasonable amount of time to act upon your cancellation request, and you authorize us to continue making bill payments you have previously authorized until we are able to process your cancellation request.
You cannot stop an electronic ACH bill payment after the payment has been sent to the Payee.
You can request to stop a bill payment made via a paper check after the payment has been sent to the Payee. To request to stop a paper check bill payment, contact us through the MoneyPod Site or call the number on the back of your Card and tell us which payment you are requesting to stop. We need a reasonable amount of time to act upon your request. If we are able to honor your request by stopping the payment, a fee will apply. Refer to Fees for a description of the Stop Payment fee..
Bill payments can only be made to Payees located in the United States. We have the right to limit the frequency and dollar amount of bill payments for security reasons, and we have the right to terminate or suspend your use of the bill payment service. If we suspend or terminate the service or your Card or Account is closed or suspended, then we have the right to cancel any payment you have scheduled.
How to stop preauthorized payments
You may authorize a merchant or a third party to make preauthorized payments from your Account to that merchant. The limits described in the “Using the bill payment service” section of this Agreement apply to preauthorized payments to merchants or a third party. If you preauthorize payments and you want to stop the payments, you should first contact the merchant or other third party to cancel the payments. You may also contact us at least three Business Days before the next payment is scheduled to be made. You can contact us by sending us a message to firstname.lastname@example.org or through the MoneyPod Site or by calling 877-668-5800. We may also require you to send us your request in writing to P.O. Box 60621, Palo Alto, CA 94306 within 14 days after you called us or sent us a message. You also need to send the merchant or third party your request to stop the preauthorized payments, and we may ask you to provide a copy of that request to us. If you contact us to stop a preauthorized payment, a Stop Payment Fee will be charged. Refer to Fees for a description of the Stop Payment Fee.
If you order us to stop a preauthorized payment three Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your actual and direct losses or damages, unless:
1. You did not give us accurate or complete instructions for us to stop the payment; or
2. We did not receive written confirmation of your telephone call or electronic message to stop the payment within 14 days, and the preauthorized payment occurs after the 14 days.
Using the account-to-account payment service
Using the account-to-account payment service in the MoneyPod Site, you can send a payment to another MoneyPod customer or request that another MoneyPod customer make a payment to you. For security and fraud protection there are limits on the amount of money you can send through the account-to-account payment service. The maximum amount allowable for sending a payment from your Account to another MoneyPod customer is $500 per transaction, $500 per day and $2,500 per 30 day period. The maximum amount allowable for requesting a payment from another MoneyPod customer to your Account is $500 per transaction, $500 per day and $2,500 per 30 day period.
When you request to send a payment to another MoneyPod customer, you authorize us to debit your Account and transfer funds on your behalf. You also authorize us to credit your Account when a payment is sent to you from another MoneyPod customer or if a payment you sent is cancelled or not accepted by the other MoneyPod customer.
You agree not to use the account-to-account payment service for any of the following, and we have the right to block and/or reverse such payments:
1. Payments to persons located outside the United States;
2. Payments that violate any law, regulation or ordinance; and
3. Payments that violate this Agreement.
Sending a payment
Sending a payment to another MoneyPod customer is a one-time transaction. You send a payment by providing the mobile telephone number or email address of the person to whom you are sending the payment (the "Receiver"). We will attempt to send an email or text message notification to the Receiver with instructions on how to accept the funds. The Receiver must be a MoneyPod customer in order to accept the funds. You agree to maintain sufficient funds in your Account to cover the amount of any payment you initiate.
The Receiver is not required to accept the payment you send. You agree not to hold us responsible or liable for any damages resulting from the Receiver's acceptance or rejection of the payment. If the Receiver does not claim the payment within twenty-one (21) days after we send the initial notification to the Receiver, then the payment will be automatically cancelled and we will attempt to return the payment to your Account. If we are not able to complete the payment transaction, we will notify you. After the Receiver has accepted the payment it cannot be cancelled, changed or stopped.
When you send a payment to another MoneyPod customer, you are responsible for the transaction even if you make an error such as sending the payment to the wrong person or sending the wrong amount of money. If you do make an error, you must notify us as soon as you know any information is incorrect. We will try to stop the payment after you contact us, but we make no guarantee that we will be able to stop the payment, and we are not responsible or liable for damages as a result of incorrect information entered by you or the Receiver.
Transactions initiated by you in the MoneyPod Site will begin processing and funds will be debited immediately from your Account.
We have the right, in our sole discretion, to refuse to send a payment to any Receiver. We will notify you if we refuse to send a payment to a Receiver and the payment will not be debited from your Account.
Requesting a payment
You can request a payment from another person (a “Payor”) by sending a text message or email to the Payor through the MoneyPod mobile app or by sending an email to the Payor through the MoneyPod website. We will attempt to deliver the email or text message notification to the Payor, and the text message or email will include instructions on how to accept your payment request. If the Payor is not a MoneyPod customer, the Payor will be instructed to open a MoneyPod account to accept and fulfill the payment request.
The Payor can choose to pay all or a portion of the amount you requested or the Payor can reject your request. If the Payor does not respond within twenty-one (21) days after the request is sent, the request will expire.
Funds will not be credited to your Account until the Payor transfers funds to you from their MoneyPod account. We are not responsible or liable for damages as a result of incorrect information entered by you or the Payor.
Using the Account to send a check
You can request that we send a paper check to a person (“Individual Payee”) on your behalf. The limits described in the “Using the bill payment service” section of this Agreement apply to checks you request to be sent to an Individual Payee. You are responsible for all checks you authorize through the MoneyPod service. You authorize us to debit the amount of the check from your Account. If there are not sufficient funds in your Account, we will not create the check.
Your Account balance will be reduced by the amount of the check on the day the check is scheduled to be sent to the Individual Payee. A check payment scheduled prior to 2:00PM (CT) on a Business Day will be processed on that Business Day. A check payment scheduled after 2:00PM (CT) on a Business Day or scheduled on a non-Business Day will be processed the next Business Day.
You may cancel a check before 2:00PM (CT) on the day the check is scheduled to be sent to the Individual Payee by contacting us through the MoneyPod Site or by calling the number on the back of your Card. We must have a reasonable amount of time to act upon your cancellation request, and you authorize us to continue to create any checks you have previously authorized until we are able to process your cancellation request.
You may also request to stop payment on the check after the check has been sent to the Individual Payee. To request to stop payment on a check, contact us through the MoneyPod Site or call the number on the back of your Card and tell us which check you are requesting a stop payment. We need a reasonable amount of time to act upon your request. If we are able to honor your request by stopping the payment, a fee will apply. Refer to Fees for a description of the Stop Payment fee.
Checks can only be made to Individual Payees located in the United States. We have the right to limit the frequency and dollar amount of checks for security reasons, and we have the right to terminate or suspend your use of the check service. If we suspend or terminate the service or your Card or Account is closed or suspended, then we have the right to cancel any checks you have scheduled.
Section VI. Fees
You agree that the following fees apply to the Card and may be charged to the Account. Fees will be debited from the Account balance.
Section VII. Verification of Transactions and Statements
You are entitled to receive a transaction record or receipt each time a transaction is completed using the Card at an electronic terminal or ATM. In addition, all Card transactions will be listed separately on the monthly statement.
A monthly statement of the Card and Account activity will be provided. An electronic statement copy can be obtained by requesting it through the MoneyPod Site. You can contact us to request that we mail you a paper copy of a statement. A fee applies to each paper statement you request. Refer to Fees for a description of the Monthly Statement Paper Copy fee.
Section VIII. Issuer’s Liability for Failure to Complete Transactions
If we do not complete a transfer to or from your Card or Account on time or in the correct amount according to this Agreement, we will be liable for your actual and direct losses or damages. However, there are some exceptions. We will not be liable:
1. If you do not have sufficient funds in your Account to process the transaction;
2. If the ATM where you are making the transaction does not have enough cash;
3. If you have chosen to freeze your Card which prevents your Card from being used;
4. If the terminal or system was not working properly and you knew about it when you started the transaction or the merchant refuses to accept your Card or payment;
5. If we have blocked or restricted Card usage at certain merchants and/or locations;
6. If we believe the transaction is fraudulent or unauthorized;
7. If a transaction would exceed the security and fraud prevention limits;
8. If your Card has been reported as lost or stolen;
9. If you have not followed the instructions on how to schedule or cancel a transaction;
10. If you have not given us accurate or complete instructions for us to make the transaction;
11. If the payee does not promptly credit your payment;
12. If circumstances beyond our control (such as a fire, flood or computer failure) prevent us from making the transaction despite reasonable precautions we have taken; or
13. If your Account or Account funds are subject to a legal or administrative process or other encumbrance restricting their use.
There may be other exceptions stated in this Agreement.
Section IX. Closing your Account
If your Account is closed, we will attempt to return any remaining Account balance to you, and we will determine whether to transfer the amount to your linked Bank Account or send you a check for the amount of the remaining Account balance. We are not liable if we are unable to return any remaining Account balance to you after the Account is closed.
Section X. Unclaimed Funds
The balance remaining in your Account may become unclaimed funds escheatable to the state, if, as shown by our record, you have not, within the applicable statutory period, requested a refund of unused funds on the expired or canceled Card or Account, corresponded with us concerning the Card or Account, or transacted any business on the Card or Account. If that occurs, the funds will escheat to the state in which your last known address was located according to our records or the state where the Account was opened.
Section XI. Unauthorized Transfers and Visa Zero Liability Policy
Tell us AT ONCE if you believe the Card or PIN has been lost or stolen, or if you believe that an electronic fund transfer or transaction has been made without your permission. Telephoning is the best way of keeping your possible losses down; contact us at 877-668-5800. You could lose all the money on the Card. If you tell us within two (2) Business Days after learning of the loss or theft of the Card or PIN, you can lose no more than $50 if someone used the Card or PIN without your permission.
If you do NOT tell us within two (2) Business Days after you learn of the loss or theft of the Card or PIN, and we can prove we could have stopped someone from using the Card or PIN without your permission if you had told us, you could lose as much as $500.
Also, if your MoneyPod statement shows transfers or transactions that you did not make, tell us at once. If you do not tell us within 60 days after the transaction appears in the MoneyPod Site in your transaction history or in the monthly statement that you request to be 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 told 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.
With the Visa Zero Liability policy, you will not be liable for unauthorized transactions from your Card unless we find that you were negligent or fraudulent in the handling of your Card or PIN. This does not include ATM transactions or PIN transactions not processed by Visa. You must notify us immediately of any unauthorized use.
Section XII. Error Resolution Procedures
In case of errors, questions or discrepancies about a Card transaction(s) call us at 877-668-5800, write to us at (P.O. Box 60621, Palo Alto, CA 94306) or send us a message at email@example.com or through the MoneyPod Site as soon as possible if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days from the date the transaction or error first appears in the MoneyPod Site in your transaction history or on a monthly statement and you must provide us with the following information:
1. Your name and Card number.
2. A description of 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.
3. The dollar amount of the suspected error.
If you tell us orally, we may require that you send us 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 promptly correct any error. If we need more time to investigate, however, we may take up to 45 days (90 days for point-of-sale transactions, foreign-initiated transfers or transfers that occurred within thirty (30) days after the first deposit to the Account). If we decide to do this, we will credit the Card within ten (10) Business Days (up to twenty (20) Business Days for transfers that occurred within thirty (30) days after the first deposit to the Account) for the amount you think is in error and you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint in writing and we do not receive it within ten (10) Business Days, we may not credit your Account.
We will tell you the results within three (3) 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.
Section XIII. Lost or Stolen Card or PIN
If the Card or PIN is lost or stolen, promptly notify us by calling 877-668-5800. A replacement Card may be issued. Any applicable Card Replacement Fee will be charged against the Account. Refer to Fees for a description of the Card Replacement Fee. You should also freeze your Card in the MoneyPod Site by accessing the Freeze Card section to prevent any potential unauthorized transactions (MoneyPod Site>Account>Debit Card>Freeze Card). Keep a record of your Card number in a safe place, separate from the Card to assist in replacement.
Section XIV. Communications, text messages and email notifications
MoneyPod is a paperless platform. This means we will attempt to provide you with all notices and communications in electronic form. When you submit your application, we request that you Consent to Electronic Communications so that we can effectively communicate with you and you can access all our services. As provided in the Electronic Communications Agreement, if you withdraw your consent to receive electronic communications, you will need to close your Account.
We will send you emails and text messages regarding your Account such as to confirm certain activities or to notify you of certain activities on your Card or Account. When you give us your email address and mobile telephone number, you agree we can send emails and text messages to you. You must keep your email address and mobile telephone number up to date in our records, and you agree to tell us right away if your email address or mobile telephone number change. If you do not notify us right away, we will not be liable for any negative effects to your Card or Account as a result of undelivered text messages, notifications, email or mail or due to your inability to access your Account on the MoneyPod Site.
You consent to receive non-marketing communications from us at any mobile phone number you provide, including text messages, pre-recorded messages, voicemail or calls made by an automated telephone dialing system. You may separately consent to receive marketing text messages or calls from us. We will not charge you for text messages, but your wireless carrier may charge fees for data usage and text messaging services, and these fees are in addition to any related fees as outlined in this Agreement.
You understand that text messages and emails will not be encrypted and you must provide all equipment, software and hardware that are necessary to receive emails and text messages. The text message service may not be available on all carriers. You understand that your receipt of any email or text message may be delayed or prevented by circumstances beyond our control. We do not guarantee the accuracy or delivery of any text message or email. We are not liable for any damages resulting from the non-delivery, delayed delivery or mis-delivery of any text message or email or your use or reliance on any text message or email for any purpose.
You agree that you have Internet access and a valid email address. You will need a username, password and mobile password or Touch ID for the MoneyPod mobile app to access your Account on the MoneyPod Site. You will generally be able to access your Account 24 hours a day, 7 days a week, but there may be times when the system or certain functionality is unavailable due to maintenance or other circumstances beyond our control. We reserve the right to suspend or terminate your access to the MoneyPod Site if, in our sole discretion, we believe the MoneyPod Site, your Card or your Account is being used for fraudulent or illegal purposes or used in violation of this Agreement. Not all types of devices may be able to use the MoneyPod mobile app, and we have no obligation to make the MoneyPod mobile app available for any particular device or platform.
Section XV. Disclosure of Information to Third Parties
Information about the Card or Account and related transactions may be disclosed to and by third parties on our behalf only:
1. Where necessary to complete the transaction (e.g., to verify the existence or condition of your Card to a merchant); or
2. To comply with government agency or court orders or as otherwise required by law or in connection with examinations by banking authorities; or
3. For analytical purposes; or
4. With your permission; or
Section XVI. Legal Actions Affecting Your Card or Account
If we are served with a subpoena, restraining order, writ of attachment or execution, levy, garnishment, search warrant, or similar order relating to the Card or Account, we will comply with that legal action. Or, in our discretion, we may freeze the assets on the Card or Account and not allow any payments out of the Card or Account until a final court determination regarding the legal action is received. In such cases, we will not have any liability to you if there are insufficient funds on the Card or in any way restrict access to your funds in accordance with the legal action.
Section XVII. Amendment and Governing Law
We may change the terms and conditions of this Agreement by posting the revised terms to our website www.getmoneypod.com, or by another method permitted by law. This agreement is governed by federal laws and, to the extent not preempted, by the laws of the Commonwealth of Pennsylvania.
Section XVIII. Miscellaneous
You agree to pay all costs incurred by us, MoneyPod or our or MoneyPod’s successors or assigns in collecting unpaid indebtedness or in enforcing this Agreement, including attorneys’ fees and costs, except where such costs, fees or expenses are prohibited by applicable law.
We and MoneyPod have the right, each in our sole discretion, to limit or restrict any of the services in this Agreement to any person or any location. Any service in this Agreement is void where prohibited.
If any provision of this Agreement is determined to be invalid or unenforceable under any applicable law, the validity or enforceability of any other provision of this Agreement shall not be affected.
This Agreement, including the agreements and policies referred to in this Agreement, sets forth the entire understanding and agreement between you and us, with respect to your MoneyPod Account, and supersedes any prior or contemporaneous understandings or agreements with respect to your MoneyPod Account.
You may not assign or transfer this Agreement or any of your rights, obligations, responsibilities or liabilities under this Agreement without our prior written agreement, and any attempt to do so without our written agreement will be null and void. We or MoneyPod may assign any of our or MoneyPod’s rights and obligations under this Agreement without your approval to any entity that acquires our or MoneyPod’s assets or to an affiliate or successor.
TO THE EXTENT PERMITTED BY LAW, WE AND MONEYPOD MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU REGARDING YOUR ACCOUNT, CARDS, THE MONEYPOD SITE OR ANY SERVICE COVERED BY THIS AGREEMENT, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS. WE AND MONEYPOD MAKE NO WARRANTIES OR REPRESENTATIONS THAT THE USE OF THE ACCOUNT, CARD OR THE MONEYPOD SITE WILL BE UNINTERRUPTED OR ERROR-FREE. YOU MAY HAVE OTHER WARRANTY RIGHTS, WHICH VARY BY STATE.
IN NO EVENT WILL WE, MONEYPOD, OR OUR OR MONEYPOD’S AGENTS, EMPLOYEES OR SERVICE PROVIDERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, EXEMPLARY OR CONSEQUENTIAL DAMAGES OF ANY KIND, IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT, EVEN IF WE, MONEYPOD, OR OUR OR MONEYPOD’S AGENTS, EMPLOYEES OR SERVICE PROVIDERS HAVE BEEN ADVISED THAT SUCH DAMAGES MAY OCCUR. NOTHING IN THIS AGREEMENT WILL OPERATE SO AS TO EXCLUDE OR LIMIT OUR OR MONEYPOD’S LIABILITY FOR ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED BY APPLICABLE LAW.