Sesame Cash Cardholder Agreement
Last Updated on May 18, 2023
Terms and Conditions for the Sesame Cash Mastercard® Prepaid Debit Card Program.
NOTICE: THIS AGREEMENT REQUIRES ALL DISPUTES TO BE RESOLVED BY WAY OF BINDING ARBITRATION. THE TERMS OF THE ARBITRATION CLAUSE APPEAR AT THE END OF THIS AGREEMENT.
This Cardholder Agreement (“Agreement”) sets forth the terms and conditions under which the Sesame Cash Prepaid Debit Card (the “Card”) has been issued to you by Community Federal Savings Bank (the “Issuer”), member of the Federal Deposit Insurance Corporation (“FDIC”). This Agreement supplements but does not replace Credit Sesame, Inc.’s (the “Program Manager’s”) Terms of Service. If you do not agree to the terms of this Agreement or the Terms of Service, do not use the Card and cancel the Card by calling us at the number on the back of the Card. By activating, using the Card, or allowing someone else to use the Card, you agree to the terms of this Agreement and the Terms of Service under which the Card has been issued to you.
“Account Number” means the unique number used to identify your Card Account. If your Account Number does not appear on the back of your Card or is not provided to you along with your Card, you may obtain your Account Number by contacting our Customer Service number (see section below titled “How to Contact Us”).
“Access Information” means your PIN, online username, password, challenge questions, and any other security or access information required to access your Card Account.
“Business days” means Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.
“Card Account” means the records we maintain to account for the value of transactions associated with the Card.
“Card Number” is the 16-digit number embossed or printed on the front of your Card.
“You” and “your” mean the person or persons who have received the Card and are authorized to use the Card as provided for in this Agreement.
“We,” “us,” “our,” and “Issuer” mean Community Federal Savings Bank, Member FDIC, our successors, affiliates or assignees.
The table below lists all fees for the Card Account. You agree to pay us the fees set forth in the Fee Schedule set forth below. Except as otherwise detailed below or where prohibited by law, all fee amounts will be withdrawn from your Card Account and will be assessed as long as there is a remaining balance on your Card Account. Any time your remaining Card Account balance is less than the fee amount being assessed, the balance of your Card Account will be applied to the fee amount resulting in a zero balance on your Card Account. The remainder of the fee due will be collected upon the next load to the Card.
List of All Fees for the Sesame Cash Mastercard® Prepaid Debit Card
|*Monthly Fee: The fee listed in the table above may be waived depending on how your Card is used. To qualify for fee waiver, you must either deposit $500 into your Card account via direct deposit or spend $1,000 each month. Spending can be satisfied either through bill payment or point of sale (“POS”) transactions. This fee does not apply within the first 30 days of account opening. Credit Sesame will review its records of your Card activity for a given 30-day cycle to determine fee waiver eligibility. By way of example, on or around September 1, we will review your purchases and deposits for your August cycle to determine whether or not the $9.99 fee will be charged. If you are charged a fee, it will be deducted from your Card account the following month and appear as a transaction in your online statement. For the avoidance of doubt, using the same example above, you will see a $9.99 charge reflected in your September transaction log for your August cycle. If your Card account has insufficient funds to process the charge, your Card account will go into a negative balance of up to $25 (The $25 negative balance cap would occur if you are charged a fee multiple months in a row. For clarity, the cap to the negative balance only applies to these fees and not any other charges incurred.
|ACH Transfer from your U.S. bank account
|This is our fee. Your bank may charge you an ACH transfer fee. To avoid this fee, set up direct deposit to your Card.
|Signature and PIN purchases
|ATM withdrawal (in-network)
|“In-network” refers to the Allpoint ATM Network. Locations can be found at https://www.allpointnetwork.com/index.html#where.
|ATM withdrawal (out-of-network)
|“Out-of-network” refers to all the ATMs outside of the Allpoint ATM Network. You may also be charged a fee by the ATM operator, even if you do not complete a transaction. To avoid this fee, request cash back at point of sale or withdraw cash from an Allpoint ATM.
|Cash Back at Point of Sale (Select “Debit” and enter your PIN to get cash back when making purchase at retailer)
|Customer Service and Account Information
|Customer service (automated)
|No fee for calling our automated customer service line, including for balance inquiries.
|Customer service (live agent)
|No fee for calling our automated customer service line, including for balance inquiries.
|Replacement/Secondary Card – Standard Delivery (7-10 business days)
|ATM balance inquiry (in-network)
|“In-network” refers to the Allpoint ATM Network. Locations can be found at https://www.allpointnetwork.com/index.html#where.
|ATM balance inquiry (out-of-network)
|This is our fee. “Out-of-network” refers to all the ATMs outside of the Allpoint ATM Network. You may also be charged a fee by the ATM operator.
|Using your card outside the U.S.
|This is our fee. If you withdraw cash or make a purchase in a foreign country in a currency other than U.S. dollars, the amount deducted from your funds will be converted to U.S. dollars by Mastercard using a rate selected by Mastercard based on the date the transaction is processed, which may be different than the rate on the date you made the transaction.
|International ATM withdrawal
|This is our fee. You may also be charged a fee by the ATM operator, even if you do not complete a transaction. To avoid this fee, request cash back at point of sale.
|International ATM balance inquiry
|You may be charged a fee by the ATM operator.
|**Inactivity Fee: The fee listed in the table above will be charged when there is no money movement or transactions made on your Card account within a 30-day rolling period. This fee does not apply within the first 30 days of account opening. As mentioned above, the fee will be charged and appear on the following month’s statement. ATM (defined below) usage does constitute money movement or transactions for the purposes of this inactivity fee. This fee will be deducted from your Card account. If your Card account has insufficient funds to process the charge, your Card account will go into a negative balance of up to $25. (The $25 negative cap is only applicable if you are charged a fee multiple months in a row. The $25 negative cap includes other fees stated in the table as well.)
Register your card for FDIC insurance eligibility and other protections. Your funds will be held at or transferred to Community Federal Savings Bank, an FDIC insured institution. Once there, your funds are insured up to $250,000 by the FDIC in the event Community Federal Savings Bank fails, if specific deposit insurance requirements are met and your card is registered. See fdic.gov/deposit/deposits/prepaid.html for details.
No overdraft/credit feature.
Contact the Program Manager by calling 1-877-751-1859, by mail at Sesame Cash, 444 Castro St., Suite 500, Mountain View, CA, 94041, or visit www.sesamecash.com.
For general information about prepaid accounts, visit cfpb.gov/prepaid. If you have a complaint about a prepaid account, call the Consumer Financial Protection Bureau at 1-855-411-2372 or visit cfpb.gov/complaint.
Card Limitations Schedule***
|Maximum Card Account balance at any time:
|Maximum Direct Deposits & ACH Credits Combined:
|$8,000 per day, $20,000 per month
|Maximum ATM Cash Withdrawals:
|$500 per transaction
$1,000 per day
$2,000 per month
|Maximum Over-the-Counter Cash Withdrawals:
|$500 per transaction
$1,000 per day
$2,000 per month
|Maximum Card-to-Card Transfers:
|$2,500 per day
|Maximum Purchase Transactions:
|$2,500 per transaction
$5,000 per day
$20,000 per month
|Maximum ACH Debit Transactions
|$5,000 per month
***We may increase or decrease these limits or add additional limits from time to time in our sole discretion without notice to you except as required by law.
How to Contact Us. You may contact us in the following ways:
By Telephone (the “Customer Service Number“): 1-877-751-1859
By Email (the “Email Address“): email@example.com
By Mail (the “Mailing Address“): Sesame Cash, 444 Castro St., Suite 500, Mountain View, CA, 94041
Through our website (the “Website“): www.sesamecash.com
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW CARD ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Card Account. What this means for you: When you open a Card Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.
The Card is a prepaid debit card issued by the Issuer and distributed and serviced by the Program Manager. Credit Sesame provides Personal Credit Management services and provides consumers financial health and credit health tools, including free credit scores, credit analysis, and personalized credit recommendations. Credit Sesame now offers a free prepaid debit card account to its customers that replaces a traditional bank account and that will provide additional financial wellness tools.
The Card is not connected in any way to any other account, such as a checking or savings account. The Card is not a credit card. The Card is not for resale. You will not receive any interest on your funds in the Card Account. The Card will remain the property of the Issuer and must be surrendered upon demand. The Card is nontransferable, and it may be canceled, repossessed, or revoked at any time without prior notice subject to applicable law. The Card is not designed for business use, and we may close your Card if we determine that it is being used for business purposes. We may refuse to process any transaction that we believe may violate the terms of this Agreement or the Terms of Service. Write down your Card number and the customer service phone number provided in this Agreement on a separate piece of paper in case your Card is lost, stolen, or destroyed. Keep the paper in a safe place. You acknowledge and agree that the value available in the Card Account is limited to the funds that you have loaded into the Card Account. You agree to sign the back of the Card immediately upon receipt. The expiration date of the Card is identified on the front of your Card. Your funds will never expire, regardless of the expiration date on the front of your Card. Please read this Agreement carefully and keep it for future reference.
The funds in your Card Account are insured up to the maximum limit provided by the FDIC, provided we have been able to fully verify your identity.
Activating Your Card
You must first load funds via direct deposit/ACH to your card before it is mailed to you. You must activate your Card before it can be used. You may activate your Card by downloading the Sesame Cash Mobile Application (“Mobile App”) or by calling the Customer Service Number (see section above titled “How to Contact Us”). You will need to provide the personal information we request in order to verify your identity. If you purchased a non-personalized Card from a retail location (“Non-Personalized Card“), once you have activated your Card and your identity has been verified, we will mail you a Card with your name embossed on it (“Personalized Card“). You will automatically receive a Personalized Card in the mail if you applied for a Card online or without purchasing a Non-Personalized Card. If you received a Non-Personalized Card, you will not be able to reload your Card or use it to make cash withdrawals or international purchases until we have been able to verify your identity.
Personal Identification Number
You will be required to select a Personal Identification Number (“PIN”) for your Card Account when you activate your Card. Your PIN is a security feature which will be needed for certain transactions including cash withdrawals and certain purchase transactions. You should not write or keep your PIN with your Card. Never share your PIN with anyone. When entering your PIN, be sure it cannot be observed by others and do not enter your PIN into any terminal that appears to be modified or suspicious. If you believe that anyone has gained unauthorized access to your PIN, you should advise us immediately following the procedures in the paragraph labeled “Your Liability for Unauthorized Transfers.” You may change your PIN at any time by logging in to the mobile app or by calling the Customer Service Number (see section above titled “How to Contact Us”).
Using Your Card/Features
Subject to the limitations set forth in this Agreement, you may use your Card, Card Number, or Account Number, as applicable, to (1) add funds to your Card Account (as described in the Section below titled “Adding Funds (“Loading”) to Your Account”), (2) transfer funds between Card Accounts, (3) purchase goods or services wherever your Card is accepted, (4) withdraw cash from your Card Account wherever the network logos on your Card are accepted (as described in the Section below titled “Cash Access”), as long as you do not exceed the value available in your Card Account, and (5) request Bill Payment (as described in Section below titled “Bill Payment”). There may be fees associated with some of these transactions. For fee information, see the Fee Schedule above. Some of these services may not be available at all terminals.
Except as otherwise stated herein, you may use your Card as long as you do not exceed the value available on your Card Account. Some merchants do not allow cardholders to conduct split transactions where you would use the Card as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge only the exact amount of funds available on your Card Account to the Card. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping your Card, your Card is likely to be declined.
To use your Card at a gas station, it is recommended that you pay inside. Paying inside will avoid having an additional portion of your Card balance (up to $75.00) held and unavailable for use for a period of time after the use of the Card at the pump.
If you use your Card at a restaurant or other merchant where tipping is common, the merchant may preauthorize an amount greater than the purchase amount. For hotels, car rentals, or similar purchases where a deposit is commonly collected in advance, the merchant may request a preauthorization the estimated final transaction amount. Any preauthorization amount will place a “hold” on your available funds until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the preauthorization amount on hold will be removed. It may take up to 7-10 Business Days for the hold to be removed. During the hold period, you will not have access to the preauthorized hold amount.
If you use your Card Number without presenting your Card (such as for a mail order, telephone, or Internet purchases), the legal effect will be the same as if you used the Card itself. For security reasons, we may limit the amount or number of transactions you can make on your Card. Your Card cannot be redeemed for cash. You may not use your Card for online gambling or any illegal transaction.
Each time you use your Card, you authorize us to reduce the value available in your Card Account by the amount of the transaction and any applicable fees. You are not allowed to exceed the available amount in your Card Account through an individual transaction or a series of transactions. Nevertheless, if a transaction exceeds the balance of the funds available on your Card Account, you shall remain fully liable to us for the amount of the transaction and any applicable fees. You agree to pay us promptly for the negative balance. If you do not promptly add sufficient funds to your Card Account to cover the negative balance, we may cancel your Card Account and pursue collection. We further reserve the right to offset any negative balance by any current or future funds you may load to or maintain in your Card Account.
Except as otherwise stated herein, you do not have the right to stop payment on any purchase or payment transaction originated by use of your Card except for payments sent via the Bill Pay feature. If you authorize a transaction and then fail to make a purchase of that item as planned, the approval may result in a hold for that amount of funds for up to thirty (30) days. All transactions relating to car rentals may result in a hold for that amount of funds for up to sixty (60) days.
Limitations on Frequency and Dollar Amounts of Transactions
We impose certain limitations on the number or dollar amount of transactions you can make with your Card. For information about the limits that apply, see the Card Limitations Schedule above. For security reasons, we may further limit the number or dollar amount of transactions you can make with your Card. We may increase or decrease these limits from time to time in our sole discretion and, to the extent permitted by applicable law, without prior notice to you.
Adding Funds to Your Account
You may load funds to your Card Account any time after your identity has been verified, subject to the limitations in this Agreement. Merchants and banks may have additional limitations.
We may assess a fee for one or more of the load options described below. See the Fee Schedule above for more details. There may also be a fee from the originating bank, or a third party involved in the load process. All loads may be subject to anti-fraud verification procedures that may delay access to the funds. Funds may be loaded to your Card Account through one or more of the following means:
Funds may be loaded to your Card Account by direct deposit from a third-party payer (including all or part of your paycheck or any federal or state government benefit or payment). To arrange for direct deposit, you may need to provide the payer our bank routing number and your Account Number. A direct deposit form is available on our mobile app. Your payer may also have a form you can use. If your Account Number is not presented in the mobile app, you may obtain this information by contacting us at the Customer Service Number. The 16-digit Card Number embossed on your Card should not be used for initiating direct deposits or your deposits will be rejected. Our bank routing number and your assigned Account Number are to be used only for the purpose of initiating direct deposits to your Card Account from domestic payers.
You agree that only direct deposits in your name or the name of someone for whom you have the legal authority to accept funds will be loaded to the Card. All direct deposits in the name of anyone else may be declined and returned. The only Federal payments that may be deposited to this card are Federal payments for the benefit of the cardholder. If we discover that a direct deposit in the name of someone else was successfully loaded to your Card, we may deduct the amount of the deposit and return it. You should check with your payer to determine the effective date for any direct deposit they send to your Card Account.
You may transfer funds to your Card Account from an eligible checking or savings account held by you at a U.S. financial institution by means of an Automated Clearing House (“ACH”) transaction. By requesting such a transfer, you represent that you are the owner of such bank account and, if there are additional owners, you are authorized by them to withdraw or add funds and take all other actions required or permitted by this Agreement. When you provide us with your bank account information, we may verify your authority and/or access to the bank account you identify.
Once your identity has been verified, you may use your Card and PIN to obtain cash from any Automated Teller Machine (“ATM”) bearing a network brand logo on your Card, or at merchants and participating financial institutions that have agreed to provide cash back at POS terminals bearing a network brand logo on your Card. All such transactions are treated as cash withdrawal transactions. There may be limits and fees associated with certain cash access transactions which may be found in the Card Limitations Schedule and Fee Schedule above.
When you use an ATM not owned by Allpoint, 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 fund transfer).
Online Bill Payments
If eligible You may use your Card for online bill payments on the Sesame Cash Mobile App. Terms and limits applicable to the use of the bill payment service can be found in the Sesame Cash Terms of Service which are incorporated by reference into this Agreement and will be disclosed at the time you enroll in the service. No fee will be charged for this bill payment service.
Returns and Refunds
If you are entitled to a refund for any reason for goods or services obtained with your Card, you agree to accept credits to your Card Account for such refunds and agree to the refund policy of that merchant. If the merchant credits your Card, the credit may not be immediately available. Issuer is not responsible for the delivery, quality, safety, legality, or any other aspects of goods or services that you purchase from others with a Card.
If you need to replace your Card for any reason, please contact us at the Customer Service Number to request a replacement Card. You will be required to provide personal information, which may include your Card Number, full name, transaction history, copies of accepted identification, etc. There is no fee for replacing your Card (see the Fee Schedule above for details).
Subject to applicable law, you may use or reload your Card only through the Card expiration date. The expiration date is identified on the front of your Card. The funds in your Card Account will not expire, regardless of the expiration date on the front of your Card. If there is a balance remaining in your Card Account upon expiration and your Card is in good standing, the balance can be transferred to a new Card or returned to you by check upon your request.
Transactions Made in Foreign Currencies
If you obtain your funds or make a purchase in a currency other than the currency in which your Card was issued, the amount deducted from your funds will be converted by the Card network branded on the front of your Card, or one of its affiliates, into an amount in the currency of your Card Account. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by the Card network, or one of its affiliates, from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate such Card network itself receives, or the government-mandated rate in effect for the applicable central processing date.
You should get a receipt at the time you make a transaction using your Card. You should retain, verify, and reconcile your transactions and receipts. Some merchants may not provide a receipt for small dollar purchases.
Card Account Balance/Periodic Statements
You are responsible for keeping track of your Card Account’s available balance. Merchants generally will not be able to determine your available balance. It is important to know your available balance before making any transaction. You may obtain information about your account balance information by calling the Customer Service Number (see the section above titled “How to Contact Us”). You may also obtain an electronic account transaction history that covers at least 12 months preceding the date on which you electronically access the Card Account by visiting the mobile app (see section above titled “How to Contact Us”). You also have a right to obtain a twenty-four (24) month written history of Card Account transactions by calling the Customer Service Number or by writing us at the Mailing Address. However, there may be a fee for this service (see the Fee Schedule for details). You will not automatically receive paper statements.
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. All financial companies need to share customers’ personal information to run their everyday business. Unless you give us your written permission, we do not share your personal information except as permitted by law to process your transactions and complete your transfers, maintain your Card Account, verify the existence and condition of your Card Account for a third party, such as a merchant, respond to court orders and legal investigations, report to credit bureaus, or to offer our products and services to you. See our Privacy Notice for additional details. If you would like a copy of our privacy notice, you may obtain one by visiting the Website.
Our Liability for Failure to Complete Transactions
If we do not properly complete a transaction to or from your Card on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
- If, through no fault of ours, you do not have enough funds available on your Card to complete the transaction;
- If a merchant refuses to accept your Card;
- If an ATM where you are making a cash withdrawal does not have enough cash;
- If an electronic terminal where you are making a transaction does not operate properly, and you knew about the problem when you initiated the transaction;
- If access to your Card has been blocked after you reported your Card lost or stolen;
- If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
- lf we have reason to believe the requested transaction is unauthorized;
- If circumstances beyond our control (such as fire, flood, or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
- Any other exception stated in our Agreement with you.
Card Not Accepted, Account Suspended, or Account Closed
We are not responsible and have no liability if your Card or Card Account is not accepted for a charge. We can close or suspend your Card Account at any time for any reason including if the activity on your Card Account appears suspicious. Unusual or multiple purchases may prompt a merchant inquiry or Card suspension to allow us to investigate such unusual activity. We reserve the right, in our sole discretion, to limit your use of the Card. We may refuse to issue a Card or may revoke Card privileges with or without cause or notice, other than as required by applicable law. You agree not to use or allow others to use an expired, revoked, canceled, suspended, or otherwise invalid Card. If we cancel your Card Account through no fault of yours, you may request a refund of any remaining balance and we
will issue you a check equal to the balance of your funds in the Card Account (less incurred fees and charges) at no cost to you. We may charge a fee to issue a check for the remaining balance in all other circumstances (see the Fee Schedule for details). Checks will be mailed to you
at the mailing address you have provided to us. Cancellation of your Card Account will not affect any of our rights or your obligations
arising under this Agreement prior to cancellation.
- Preauthorized credits: If you have arranged to have direct deposits made to your Card Account at least once every 60 days from the same person or company and you do not receive a statement and/or paystub, you can call the Customer Service Number to find out whether or not the deposit has been made.
- Right to stop payment and procedure for doing so: If you have authorized us in writing to make regular payments out of your Card Account using your 16-digit Card Number, you can stop any of these payments. Here’s how: call us at the Customer Service Number or write us at the Mailing Address in time for us to receive your request three (3) business days or more before the payment is scheduled to be made (see section above titled “How to Contact Us”). If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call. There is no fee associated with each stop payment order you give (see Fee Schedule above for details).
- Notice of varying amounts: If these regular payments may vary in amount, the person you are going to pay will tell you, at least ten (10) days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)
- Liability for failure to stop payment of preauthorized transfer: If you order us to stop one of these payments three (3) business days or more before the scheduled date of the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Credit Sesame Secured Mastercard® Credit Card Transfers
If you also have the Credit Sesame Secured Mastercard® Credit Card (“Charge Account”), you may from time to time request the automatic transfer of an amount made up of one or more past transactions from your Card Account to your Charge Account. Each such transfer (“Charge Account Transfer”) from your Card Account to your Charge Account will constitute an advance of funds from your Charge Account and a load of those funds to your Card Account. Your ability to request and our obligation to honor any Charge Account Transfer is subject to the terms and conditions applicable to the Charge Account in effect from time to time, including the requirement that you have sufficient available credit under the charge limit of your Charge Account. To open a Charge Account, you must submit an application and satisfy the eligibility criteria in effect at the time of your application.
The proceeds from all Charge Account Transfers will be loaded to a segregated sub-account (“Vault”) of your Card Account. The Vault will be opened at the time of the first Charge Account Transfer and will remain open for as long as it has a balance after your Charge Account is closed. We will maintain separate records to account for the value of transactions associated with the Vault.
Funds in the Purse will not increase the value available to spend on your Card Account unless you request a transfer (“Vault Transfer”) from your Vault to your Card Account. Your Card Account card will not provide direct access to funds in your Vault until they are transferred to your Card Account. You may not initiate a request for a Vault Transfer related to any Card Account transaction until after the transaction has been debited from your Card Account.
Only the proceeds of Charge Account Transfers will be loaded to your Vault. You will have no ability to load other funds to your Vault or to transfer funds from your Card Account to your Vault. Funds in your Vault will remain in your Vault until you transfer them to your Card Account through a Vault Transfer or use them to make a payment to your Charge Account. The only way to withdraw funds from your Vault is to request a Vault Transfer.
You may obtain information about the balance of your Vault and transfers to and from your Vault in the same manner as you obtain this information about your Card Account (see section above titled “How to Contact Us”). Your Vault balance and transaction history will be segregated from the balance and transaction history of your Card Account in the Mobile App. The Card Account Balance shown in the Mobile App does not include the balance of your Vault.
Funds in your Vault are FDIC-insured up to applicable limits. There are no additional fees associated with the Vault.
Other Miscellaneous Terms
You may not assign or transfer your Card and your obligations under this Agreement. We may assign or transfer our rights under this Agreement. Use of your Card is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions. We do not waive our rights by delaying or failing to exercise them at any time. Notwithstanding the foregoing, this Agreement shall be binding on you, your heirs, your executors, administrators, guardians, personal representatives, or trustee in bankruptcy.
If a court finds any provision of this Agreement invalid or unenforceable, such finding shall not make the rest of this Agreement invalid or unenforceable. To the fullest extent possible, any such provision shall be deemed to be modified so as to be rendered enforceable or valid; however, if such provision cannot be so modified, it shall be stricken and all other provisions of this Agreement in all other respects shall remain valid and enforceable. This Agreement will be governed by the laws of the State of New York except to the extent governed by federal law.
Amendment and Cancellation
We may amend or change the terms and conditions of this Agreement at any time. You will be notified of any change in the manner provided by applicable law. If the change is made for security purposes, we may implement such change without prior notice. We may cancel or suspend your Card or this Agreement at any time. You may cancel your Card by calling us at the Customer Service Number or writing to the Mailing Address. Your cancellation of the Card will not affect any of our rights or your obligations arising under this Agreement prior to termination.
We may close this Card or temporarily or permanently limit specific activities the Card can perform at any time upon suspecting or observing potentially fraudulent activity or activity otherwise prohibited by this Agreement. In the event that your Card Account is cancelled, closed, or terminated for any reason, you may request the unused balance (less incurred fees and charges) to be returned to you via a check to the mailing address we have in our records. There may be a fee for this service. Please refer to the Fee Schedule above.
Information About Your Right to Dispute Errors
Call the Customer Service Number or write to the Mailing Address as soon as you can if you think your electronic transaction history or receipt is wrong or if you need more information about a transaction listed on the electronic transaction history or receipt (see section above titled “How to Contact Us”). We must hear from you no later than sixty (60) days after the earlier of the date you electronically access your Card Account, if the error could be viewed in your electronic transaction history, or the date we sent the FIRST written history on which the error appeared.
- Tell us your name and account number (if any).
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
If you provide this information 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 of hearing from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your Card Account within ten (10) business days for the amount you think is in error, so that you will have use of the money during the time it takes us to complete our investigation. If we ask you to put your question or complaint in writing and you do not provide it within ten (10) business days, we may not credit your Card. For errors involving new Card Accounts, POS transactions, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new Card Accounts, we may take up to twenty (20) business days to credit your account for the amount you think is in error.
We will tell you the results within three (3) business days after completing the investigation. If we decide that there was no error, we will send you a written explanation. Copies of the documents used in the investigation may be obtained by contacting us at the phone number or mailing address listed in the section above titled “How to Contact Us.”
Your Liability for Unauthorized Transfers
You agree to exercise reasonable control over your Card and Access Information. Tell us immediately if you believe your Card has been lost or your Card or Access Code(s) have been stolen, or if you believe that an electronic funds transfer has been made without your permission. Telephoning our Customer Service Number is the best way to minimize your possible losses (see the section above titled “How to Contact Us”). You could lose all the money in your Account.
If you notify us within two (2) business days after you learn of the loss or theft of your Card or Access Code, you can lose no more than $50.00 if someone used your Card or Access Code without your permission. If you do not notify us within two (2) business days after you learn of the loss or theft of your Card or Access Code, and we can prove that we could have stopped someone from using your Card or Access Code without your permission if you had notified us, you could lose as much as $500.00.
Also, if you become aware of and/or your statement shows transactions that you did not make, including those made by Card, Access Code, or other means, notify us at once following the procedures stated in the paragraph labeled “Information About Your Right to Dispute Errors”. If you do not notify us in writing within sixty (60) days from the earlier of the date you electronically access your Card Account, if the unauthorized transfer could be viewed in your electronic history, or the date we sent the first written history on which the unauthorized transfer appeared, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the value if you had notified us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
If you believe your Card or Access Code has been lost or stolen, call: 1-877-751-1859 or write to Sesame Cash, 444 Castro St., Suite 500, Mountain View, CA, 94041.
Your Liability for Unauthorized Mastercard Prepaid Debit Card Transactions
In addition to your limitations of liability under the section above titled “Your Liability for Unauthorized Transfers”, your liability for the unauthorized use of your Card Account may also be limited by Mastercard.
Under the Mastercard rules, you will have no liability for a transaction that was not authorized by you if you exercised reasonable care in safeguarding the Card from risk of loss or theft, and, upon becoming aware of such loss or theft, promptly reported such loss or theft to us by calling us at our Customer Service Number (the “Mastercard Zero Liability Policy”). The Mastercard Zero Liability Policy is subject to change without notice and changes made by Mastercard will automatically apply to your Card Account.
These provisions limiting your liability do not apply to debit transactions not processed by Mastercard.
If you provide us with your mobile phone number or contact us from your mobile number, you are providing this phone number for us or any third party acting on our behalf to contact you at this number. You agree that we may use this phone number to contact you for any business purpose about your Card Account and you agree to be responsible for any fees or charges you incur as a result of providing this information. You may request this number not be used. We may offer options that allow you to receive or access text messages or other electronic communications from your mobile phone. You agree that we may contact you from time to time regarding your Card Account in any manner we choose unless the law says we cannot. For example, we may contact you by mail, telephone, email, fax, recorded message, text message, by using an automated dialer device. We may contact you at home, at your place of employment, on your mobile telephone, at any time including weekends and holidays, at any frequency and leave prerecorded messages or messages with others. When we attempt to contact you, we may identify ourselves, our relationship and our purpose for contacting you even if others might hear or read it. Our contacts with you about your Card Account are not unsolicited. We may monitor or record any conversation or other communication with you
English Language Controls
Any translation of this Agreement is provided for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language. Any translation provided may not accurately represent the information in the original English.
From time-to-time, we may monitor and/or record telephone calls between you and us to assure the quality of our customer service or as required by applicable law.
No Warranty Regarding Goods or Services as Applicable
We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with your Card.
We do not waive our rights by delaying or failing to execute them at any time. To the extent permitted by law and as permitted by the Arbitration section below, you agree to be liable to us for any loss, costs, or expenses that we may incur as a result of any dispute or legal proceeding involving your Card Account.
NOTICE: THIS AGREEMENT REQUIRES ALL DISPUTES BE RESOLVED BY WAY OF BINDING ARBITRATION UNLESS YOU OPT-OUT AS DETAILED BELOW. READ THIS ARBITRATION PROVISION. UNLESS YOU ACT PROMPTLY TO REJECT THE ARBITRATION PROVISION BY OPTING OUT IN ACCORDANCE WITH PARAGRAPH (a), CAPTIONED “OPT-OUT PROCESS,” THE ARBITRATION PROVISION WILL BE PART OF THIS AGREEMENT AND WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS, INCLUDING YOUR RIGHT TO BRING OR PARTICIPATE IN A CLASS ACTION, IN THE EVENT OF A DISPUTE.
- General: This Arbitration Provision describes when and how a Claim (as defined below) may be arbitrated. Arbitration is a method of resolving disputes in front of one or more neutral persons, instead of having a trial in court in front of a judge and/or jury. It can be a quicker and simpler way to resolve disputes. Arbitration proceedings are private and less formal than court trials. Each party to the dispute has an opportunity to present some evidence to the arbitrator. The arbitrator will issue a final and binding decision resolving the dispute(s), which may be enforced as a court judgment. A court rarely overturns an arbitrator’s decision. As solely used in this Arbitration Provision, the terms “we,” “us” and “our” mean not just the Issuer but also our parent companies, subsidiaries, affiliates, successors, assigns and any of these entities’ employees, officers, directors and agents.
- Opt-Out Process. If you do not want this Arbitration Provision to apply, you may reject it by mailing us a written opt-out notice which contains your Card Account number, your name and address and a signed statement that you opt out of the Arbitration Provision of this Agreement. The opt-out notice must be sent to us by mail at the Mailing Address. (You should retain a copy of your opt-out notice and evidence of mailing or delivery.) An opt-out notice is only effective if it is signed by you and if we receive it within thirty (30) days after the date you received this Agreement. Indicating your desire to opt-out of this Arbitration Provision in any manner other than as provided above is insufficient notice. Your decision to opt-out of this Arbitration Provision will not have any other effect on this Agreement and will not affect any other arbitration agreement between you and us, which will remain in full force and effect. If you don’t reject this Arbitration Provision, it will be effective as of the date you received this Agreement.
- What Claims Are Covered: “Claim” means any claim, demand, dispute or controversy between you and us that in any way arises from or relates to your Card Account (whether past, present or future). For purposes of this Agreement, the term “Claim” shall have the broadest possible meaning. Despite the foregoing, “Claim” does not include any individual action brought by you in small claims court or your state’s equivalent court, unless such action is transferred, removed, or appealed to a different court.
- Starting or Electing to Require Arbitration: Either you or we may start an arbitration of any Claim or require any Claim to be arbitrated. Arbitration is started by initiating arbitration or required by giving written notice to the other party requiring arbitration. This notice may be given before or after a lawsuit has been started over the Claim and may address any Claims brought in the lawsuit provided that a party may not pursue a Claim in a lawsuit and then seek to arbitrate that same Claim unless the other party has asserted another Claim in the lawsuit or an arbitration. The notice may be in the form of a motion or petition to compel arbitration. Arbitration of a Claim must comply with this Arbitration Provision and, to the extent not inconsistent or in conflict with this Arbitration Provision, the applicable rules of the arbitration Administrator.
- Choosing the Administrator: “Administrator” means the American Arbitration Association (“AAA”), 1633 Broadway, 10th Floor, New York, NY 10019, www.adr.org; JAMS, 1920 Main St. at Gillette Ave., Suite 300, Irvine, CA 92614, www.jamsadr.com, or any other company selected by mutual agreement of the parties. If AAA and JAMS cannot or will not serve and the parties are unable to select an Administrator by mutual consent the Administrator will be selected by a court. The party asserting the Claim (the “Claimant”) may select the Administrator. Notwithstanding any language in this Arbitration Provision to the contrary, no arbitration may be administered, without the consent of all parties to the arbitration, by any Administrator that has in place a formal or informal policy that purports to override the Class Action Waiver.
- Court and Jury Trials Prohibited; Other Limitations on Legal Rights: IF YOU OR WE ELECT TO ARBITRATE A CLAIM, YOU AND WE WILL NOT HAVE THE RIGHT TO PURSUE THAT CLAIM IN COURT OR HAVE A JURY DECIDE THE CLAIM. ALSO, YOUR AND OUR ABILITY TO OBTAIN INFORMATION FROM THE OTHER PARTY IS MORE LIMITED IN AN ARBITRATION THAN IN A LAWSUIT. OTHER RIGHTS THAT YOU OR WE WOULD HAVE IN COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION.
- Prohibition Against Certain Proceedings: IF YOU OR WE ELECT TO ARBITRATE A CLAIM: (1) NEITHER YOU NOR WE MAY PARTICIPATE IN A CLASS ACTION IN COURT OR IN CLASS-WIDE ARBITRATION, EITHER AS A PLAINTIFF, DEFENDANT OR CLASS MEMBER; (2) NEITHER YOU NOR WE MAY ACT AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN AN ARBITRATION; (3) CLAIMS BROUGHT BY OR AGAINST YOU MAY NOT BE JOINED OR CONSOLIDATED WITH CLAIMS BROUGHT BY OR AGAINST ANY OTHER PERSON; AND (4) THE ARBITRATOR SHALL HAVE NO AUTHORITY TO CONDUCT A CLASS-WIDE ARBITRATION, PRIVATE ATTORNEY GENERAL ARBITRATION, OR MULTIPLE-PARTY ARBITRATION.
- Location and Costs of Arbitration: Any arbitration hearing that you attend in person must take place at a location reasonably convenient to you, as determined by the arbitrator. Each Administrator charges fees to administer an arbitration proceeding and the arbitrator also charges fees. This includes fees not charged by a court. If either you or we require a Claim to be arbitrated, you may tell us in writing that you cannot afford to pay the fees charged by the Administrator and/or the arbitrator or that you believe those fees are too high. If your request is reasonable and in good faith, we will pay or reimburse you for all or part of the fees charged to you by the Administrator and/or arbitrator. Also, we will pay these fees if applicable law requires us to, if you prevail in the arbitration or if we must bear such fees in order for this Arbitration Provision to be enforced. We will not ask you to pay or reimburse us for any fees we pay the Administrator or arbitrator. We will bear the expense of our attorneys, experts and witnesses. You will bear the expense of your attorneys, experts and witnesses if we prevail in arbitration. However, if you are the Claimant, we will pay your reasonable attorney, expert and witness fees and costs if you prevail or if we must bear such fees and costs in order for this Arbitration Provision to be enforced. Also, we will bear any fees and costs if applicable law requires us to do so.
- Governing Law: This Arbitration Provision is governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (the “FAA”), and not by any state arbitration law. The arbitrator must apply applicable substantive law consistent with the FAA and applicable statutes of limitations and claims of privilege recognized at law. The arbitrator is authorized to award all remedies permitted by the substantive law that would apply if the action were pending in court (including, without limitation, punitive damages, which shall be governed by the Constitutional standards employed by the courts). At the timely request of either party, the arbitrator must provide a brief written explanation of the basis for the award.
- Rules of Interpretation: This Arbitration Provision is binding upon and benefits you, your respective heirs, successors and assigns. This Arbitration Provision also is binding upon and benefits us. This Arbitration Provision shall survive the repayment of all amounts owed under this Agreement any legal proceeding and any bankruptcy, to the extent consistent with applicable bankruptcy law. This Arbitration Provision survives any termination, amendment, expiration or performance of any transaction between you and us and continues in full force and effect unless you and we otherwise agree in writing. In the event of a conflict or inconsistency between this Arbitration Provision, on the one hand, and the applicable arbitration rules or the other terms of this Agreement, on the other hand, this Arbitration Provision shall govern.
- Severability: If any portion of this Arbitration Provision is deemed invalid or unenforceable, such a finding shall not invalidate any remaining portion of this Arbitration Provision, this Agreement, or any other agreement entered into by you with us. However, notwithstanding any language in this Arbitration Provision or this Agreement to the contrary, the Class Action Waiver is not severable from the remainder of this Arbitration Provision and, in the event that the Class Action Waiver is held to be invalid and unenforceable, and subject to any right of appeal that may exist with respect to such determination, any class action or representative proceeding shall be determined in a court of law and will not be subject to this Arbitration Provision.