Prepaid Products Sample Clauses
The PREPAID PRODUCTS clause defines the terms and conditions governing products or services that are paid for in advance by the customer. Typically, this clause outlines how prepaid funds are applied, any restrictions on usage, and the process for redeeming or utilizing the prepaid value, such as gift cards, prepaid accounts, or credits. Its core function is to clarify the rights and obligations of both parties regarding prepaid amounts, thereby preventing misunderstandings and ensuring transparency in the handling of advance payments.
Prepaid Products. A description of the Prepaid Products is set forth in Schedule A (Prepaid Products Product Schedule).
Prepaid Products. 2.1 Your Prepaid Product is a prepaid payment instrument which may be used to pay for goods and services at participating retailers that accept online Account payments or Payment Scheme branded Cards subject to there being sufficient funds on Your Account. As with any payment instrument, We cannot guarantee that a particular retailer will accept Your Prepaid Product – please check with the retailer before attempting the transaction if You are unsure.
2.2 Your Card is not a credit card and is not in any way connected to a bank account. You must ensure that you have sufficient funds on Your Account to pay for each purchase, payment or cash withdrawal using Your Prepaid Product. Your Card is intended for use as a means of payment, and funds loaded onto Your Account do not constitute a deposit. You will not earn interest on the balance of Your Account.
2.3 In some cases a Prepaid Product may be issued to You with a virtual IBAN, enabling you access to additional features associated with a payment account. A virtual IBAN is only related to Your Account and does not mean that You have a private bank account with us. At all times it is at our sole discretion whether or not a Prepaid Product will be issued to You with a virtual IBAN. We reserve the right at all times to change or revoke the assignment of an IBAN to Your Prepaid Product at any time and such a revocation is not considered to be a change to these Terms and Conditions. For further details please visit the Website or contact Customer Service.
2.4 When You receive Your Prepaid Product, it may be issued to You in an inactive state. If so, You will need to comply with Our instructions for activation of the Prepaid Product prior to use otherwise any transactions that You attempt to carry out may be declined.
Prepaid Products. 2.1 Your Prepaid Product is a prepaid payment instrument which may be used to pay for goods and services at participating retailers that accept online Account payments or MasterCard Cards subject to there being sufficient funds on Your Account. As with any payment instrument, We cannot guarantee that a particular retailer will accept Your Prepaid Product – please check with the retailer before attempting the transaction if You are unsure.
2.2 Your Card is not a credit card, charge card or a debit card supported by a bank account and is not in any way connected to a bank account. You must ensure that you have sufficient funds on Your Account to pay for each purchase, payment or cash withdrawal using Your Prepaid Product. Your Prepaid Product is intended for use as a means of payment, and funds loaded onto Your Account do not constitute a deposit. You will not earn interest on the balance of Your Account. Your Prepaid Product will expire on the Expiry Date and will cease to work. Please check the Website and section 8 of this document for further information.
2.3 When You receive Your Prepaid Product, it will be issued to You in an inactive state. You will need to activate it by referring to the Website and following the instructions for activation prior to use. If you do not activate Your Prepaid Product, any transactions that you attempt to carry out may be declined.
Prepaid Products