Common use of Prepaid Card Clause in Contracts

Prepaid Card. The Card is a prepaid card. The Card allows you to access funds loaded or deposited to your Card Account by you or on your behalf. Your Card Account does not constitute a checking or savings account and is not connected in any way to any other account you may have. The Card is not a gift card, nor is it intended to be used for gifting purposes. The Card is not a credit card and may not provide the same rights to you as those available in credit card transactions. You will not receive any interest on the funds in your Card Account. Subject to applicable law, your Card Account will be insured by the Federal Deposit Insurance Corporation once your Card has been registered with us. Your funds will never expire, regardless of the expiration date on the front of your Card. The Card will remain the property of the Bank, must be surrendered upon demand and is nontransferable. Activating Your Card. You cannot use the Card until it has been activated. Your Card Account may not have full functionality nor will you be able to access Card Account funds exceeding the dollar value established by either federal regulations and/or the Issuer (the “Excess Funds”) or reload your Card Account until successful completion of card registration and identity verification. To activate a personalized card, login to xxx.xxxxxxxxxxx.xxx or call 000-000-0000 and follow the instructions provided. As part of the activation, you will be required to provide your Social Security Number and date of birth if you did not do so while ordering your card. Although no credit history is required to obtain a Card, you authorize us to obtain information about you from time to time from credit reporting agencies, your employers and other third parties for our internal processes.

Prepaid Card. The Card is a prepaid card. The Card allows you to access funds loaded or deposited to your Card Account by you or on your behalf. Your Card Account does not constitute a checking or savings account and is not connected in any way to any other account you may have. The Card is not a gift card, nor is it intended to be used for gifting purposes. The Card is not a credit card and may not provide the same rights to you as those available in credit card transactions. You will not receive any interest on the funds in your Card Account. Subject to applicable law, your Card Account will be insured by the Federal Deposit Insurance Corporation once your Card has been registered with us. Your funds will never expire, regardless of the expiration date on the front of your Card. The Card will remain the property of the Bank, must be surrendered upon demand and is nontransferable. Activating Your Card. You cannot use the Card until it has been activated. Your Card Account may not have full functionality nor will you be able to access Card Account funds exceeding the dollar value established by either federal regulations and/or the Issuer (the “Excess Funds”) or reload your Card Account until successful completion of card registration and identity verification. To activate a personalized card, login to xxx.xxxxxxxxxxx.xxx xxxxx://xxxxxxxxxx.xxx or call 0- 000-000-0000 and follow the instructions provided. As part of the activation, you will be required to provide your Social Security Number and date of birth if you did not do so while ordering your card. Although no credit history is required to obtain a Card, you authorize us to obtain information about you from time to time from credit reporting agencies, your employers and other third parties for our internal processes.