IMPORTANT – PLEASE READ CAREFULLY. THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION (“ARBITRATION” SECTION) REQUIRING ALL CLAIMS TO BE RESOLVED BY WAY OF BINDING ARBITRATION AND WAIVING A RIGHT TO TRIAL BY JURY AND TO PARTICIPATE IN CLASS ACTIONS. YOU MAY REJECT THE ARBITRATION PROVISION BY SENDING US WRITTEN NOTICE WITHIN 45 DAYS AFTER YOUR FIRST CARD PURCHASE.
About Your Card
This Cardholder Agreement (“Agreement”) constitutes the agreement between you, and Sutton Bank, member of the Federal Deposit Insurance Corporation (“FDIC”) (“Sutton Bank” or “Issuer”), outlining the terms and conditions governing the ICM Card Program. This Agreement is supplemented by but does not replace the Advisory Agreement with Investment Cards RIA, LLC for the Investment Cards RIA, LLC brokerage account (“ICM Account”) and Investment Cards RIA, LLC services (the “ICM Services”). In the event of an inconsistency between this Agreement and the Advisory Agreement, this Agreement shall govern and control your Card Account, use of the Card and your relationship with Sutton Bank. The Issuer is an FDIC insured member institution. By activating and using your Card, you agree to be bound by this Agreement. If you do not agree to be bound by this Agreement, do not activate or use the Card. Please contact Customer Service to cancel your Card.
The following definitions and instructions apply to this Agreement: “Card” means the Debit Card issued to you by Sutton Bank which enables you to make certain electronic fund transfers to and from your debit Card Account with Sutton Bank and obtain funds transferred from your ICM Account to the Card Account (See “Adding Funds to Your Card Account”). If you do not agree to the terms and conditions contained in this Agreement, do not activate or use the Card and contact Customer Service to cancel your Card. “Card Account” means the records we maintain to account for the funds associated with the Card. All Cards are issued by the Issuer and distributed and serviced by Investment Cards RIA, LLC and Investor Cash Management Holdings, Inc. (“ICM” or “Investor Cash Management”). “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,” and “our” mean the Issuer and its respective successors, affiliates, or assignees.
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 or have been loaded into the Card Account on your behalf. 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. The Card is a debit card. The Card is not connected in any way to any other card or bank account. The Card is not a credit card and will not enhance your credit rating. The Card will remain the property of the Issuer and must be surrendered upon demand. The Card is nontransferable, is not for resale, 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 cancel 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 and conditions of this Agreement or that may be fraudulent or illegal.
Our business days are 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.
Keep record of your Account in case your Card is lost, stolen, or destroyed. Unless your Card is a Personalized Card, we may not have a record of which Card you own. Please read this Agreement carefully and keep it for future reference.
To the extent permitted by applicable law, you consent to use electronic signatures and to electronically receive all records, notices, statements, communications, and other items for all services provided to you under this Agreement and in connection with your relationship with us (collectively, “Communications”) that we may otherwise be required to send or provide you in paper form (e.g., by mail). By accepting and agreeing to this Agreement electronically, you represent that: (1) you have read and understand this consent to use electronic signatures and to receive Communications electronically; (2) you satisfy the minimum hardware and software requirements specified below; and (3) your consent will remain in effect until you withdraw your consent as specified below. You have the right to request 1 (one) paper account statement each month that your Card Account is open and active.
Your Right to Withdraw Your Consent
Your consent to receive Communications electronically will remain in effect until you withdraw it. You may withdraw your consent to receive further Communications electronically at any time by calling 1 (844) 333-3102. If you withdraw your consent to receive Communications electronically, we will close your Card Account and return your remaining Card Account balance as set forth in this Agreement, and you will no longer be able to use your Card or participate in the Program, except as expressly provided in this Agreement. Any withdrawal of your consent to receive Communications electronically will be effective only after we have a reasonable period of time to process your withdrawal. Please note that your withdrawal of consent to receive Communications electronically will not apply to Communications electronically provided by us to you before the withdrawal of your consent becomes effective.
Hardware and Software Requirements
In order to access and retain Communications provided to you electronically, you must have: (1) a valid email address; (2) a computer that operates a Windows or a Mac environment or other mobile device running a Current Version of Android or iOS; (3) a connection to the Internet; (4) a Current Version Chrome or Mozilla; (5) a Current Version of a program that accurately reads and displays PDF files, such as Adobe Acrobat Reader version 7 or higher; (6) a computer or device and an operating system capable of supporting all of the above; and (7) a printer to print out and save Communications in paper form or electronic storage to retain Communications in an electronic form. “Current Version” means a version of the software that is currently being supported by its publisher.
Copies of Communications
All communications regarding the card will be electronic, utilizing our website, mobile app, in-app messaging, text messaging and/or email messaging. Third party message and data fees may apply.
You should print and save and/or electronically store a copy of all Communications that we send to you electronically.
Address or Name Changes
You are responsible for notifying us of any change in your name, physical address, mailing address, email address, or phone number. Requests for address or name changes may be subject to additional verification requirements.
We will attempt to communicate with you only by use of the most recent contact information you have provided to us. You agree that any notice or communication sent to you at an address noted in our records shall be effective unless we have received an address change notice from you.
We cannot accept responsibility for any email messages not received by you or for any delay in the receipt or delivery of any email notification. If you make your email account available to any other individual, you agree that you are responsible for any release of any Account information to such individual.
Description of Your Card
The Card is a debit card useable wherever debit cards bearing the applicable payment network brands on your Card are accepted worldwide. The Card is not a gift card. The Card is not a device that accesses money in an individual checking or savings account but does access the ICM Account. When you use your Card, you are redeeming the value on the Card and not making a withdrawal from a checking or savings account. You may use your Card to make purchases at any merchant that accepts Visa/Mastercard debit cards, subject to your available Card Account balance and the other terms and conditions of this Agreement. You may not use your Card for any online gambling, escort services or any illegal transaction. The Card will have a printed expiration date and the Card will expire, in accordance with applicable law, on the expiration date. If your Card Account is in good standing and you have available funds on the Card, we will issue you a new Card upon expiration. The Card is our property and is nontransferable. We may revoke or suspend your Card or any features or services of your Card at any time without cause or notice. You must surrender a revoked Card and you may not use an expired or revoked Card. You are required to notify us promptly if the Card is lost or stolen.
Activating Your Card: You must activate your Card before it can be used. To activate your Card, contact Customer Service. Your Card will not be available for activation until Sutton Bank has verified your identity.
IMPORTANT INFORMATION ABOUT 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 obtains a Card. What this means for you: when you open a Card, we will ask for certain information, including, but not limited to, your name, address, date of birth, Social Security Number, phone number, and other information that will allow us to identify you. We may also request additional identifying information and documentation from time to time in connection with your access to or use of certain Card features, functionality, and services.
After your Card Account is opened, we may ask again to see a copy of your driver’s license or other identifying documents at any time if we deem is necessary to verify your identity, address, or transactions on your Card Account. If we ask for specific identifying documents, we will have the right to immediately close or suspend your Card Account if those specific documents are not provided. These measures are specifically designed to help us protect your identity and identify possible fraud on your Card Account.
Personal Identification Number (PIN)
To protect the use of your Card, you will be provided with a personal identification number (“PIN”), which must be used on all automated teller machine (“ATM”) transactions and PIN transactions. You should not write or keep your PIN with your Card. Never share your PIN with anyone 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 section labeled “Your Liability for Unauthorized Transfers” below.
Authorized Card Users
You may not permit another person to have access to your Card or Card number. If you do provide access to your Card or Card number, you are liable for all transactions incurred with the Card or Card number. You must notify us to revoke permission for any person you previously authorized to use Card information or have access to your account. You are wholly responsible for the use of each Card according to the terms of this Agreement subject to the section labeled “Your Liability for Unauthorized Transfers” below, and other applicable law.
All funds in the Card Account at Sutton Bank shall be held in an account with the Issuer for your benefit, with the balance of such funds to be reduced through your use of such funds or through the imposition of fees and other charges in accordance with the terms and conditions of this Agreement. Funds in the Card Account at Sutton Bank are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to the maximum amount specified by FDIC regulations. Any funds outside of the Card Account that are swept to your ICM Account are not FDIC insured.
Representations and Warranties
By activating the Card or by retaining, using or authorizing the use of the Card, you represent and warrant to us that: (i) you are at least 18 years of age (or older if you reside in a state where the majority age is older); (ii) you are a U.S. citizen or legal alien (with valid U.S. tax ID number) residing in the United States, Puerto Rico or the District of Columbia; (iii) you have provided us with a verifiable U.S. street address (not a P.O. Box); (iv) the personal information that you provide to us in connection with the Card is true, correct and complete; (v) you received a copy of this Agreement and agree to be bound by and to comply with its terms; and (vi) you accept the Card.
Disclaimer of Warranties
EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT, WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, REGARDING THE CARD OR RELATING TO OR ARISING OUT OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with your Card.
Limitation of Liability
WE WILL NOT BE LIABLE TO YOU FOR: DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES BEYOND OUR CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, INSURRECTION, WAR, OR RIOTS; THE FAILURE OF MERCHANTS TO HONOR THE CARD; THE FAILURE OF MERCHANTS TO PERFORM OR PROVIDE SERVICES; COMMUNICATION SYSTEM FAILURES; OR FAILURES OR MALFUNCTIONS ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, OR ANY PAYMENT SYSTEM. IN THE EVENT THAT WE ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL DAMAGES. IN NO EVENT SHALL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR SPECIAL DAMAGES (WHETHER IN CONTRACT, TORT OR OTHERWISE), EVEN IF YOU HAVE ADVISED US OF THE POSSIBILITY OF SUCH DAMAGES. THIS PROVISION SHALL NOT BE EFFECTIVE TO THE EXTENT OTHERWISE REQUIRED BY LAW. TO THE EXTENT PERMITTED BY LAW, YOU AGREE THAT YOUR RECOVERY FOR ANY ALLEGED NEGLIGENCE OR MISCONDUCT BY US SHALL BE LIMITED TO THE TOTAL AMOUNT LOADED ON THE CARD.
Cash Access; Account Access; Limitations
You acknowledge and agree that the value available in the Card Account is limited to the balance of the Card Account. Nevertheless, if any transactions cause the available balance in your Card Account to go negative, including any purchase transactions where the retailer or merchant does not request authorization, you shall remain fully liable to us for the amount of any negative balance and any corresponding transaction 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 or funds in any other Card Account you maintain with us now or in the future. We may, in our sole discretion, 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 law or the terms of this Agreement. You agree that you will: (i) not use the Card at unlawful domestic or international gambling web sites, or at payment processors supporting unlawful gambling web sites, or to purchase illegal goods or services; (ii) promptly notify us of any loss or theft of the Card; (iii) promptly notify us of the loss, theft, or unauthorized disclosure of any PIN used to access Card funds; and (iv) use the Card only as instructed. We may refuse to issue a Card, revoke or suspend your Card privileges or cancel your Card 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, cancelled, suspended or otherwise invalid Card.
You may use your Card to purchase or lease goods or services in the United States and District of Columbia online, by mail or telephone wherever Visa/Mastercard debit cards are accepted as long as you do not exceed the value available in your Card Account. You are responsible for all transactions initiated by use of your Card, except as otherwise set forth herein. If you do not have enough funds available in your Card Account for the amount authorized by you, your transaction will be declined. If you do not have enough funds available in your Card Account, you can instruct the merchant to charge a part of the purchase to the Card and pay the remaining amount with cash or using another payment method. These are called “split transactions.” Some merchants do not allow cardholders to conduct split transactions. Some merchants will only allow you to do a split transaction if you pay the remaining amount in cash. If you use your Card number without presenting your Card (such as for an online transaction), the legal effect will be the same as if you used the Card itself in-store. You are not allowed to exceed the available amount in your Card Account through an individual transaction or a series of transactions made with your Card. Nevertheless, if a transaction exceeds the balance of the funds available in your Card Account, you shall remain fully liable to us for the amount of the transaction.
Cash Access. With your PIN, you may use your Card to obtain cash from any Automated Teller Machine (“ATM”) that bears the Visa/Mastercard, PLUS, or Allpoint acceptance mark, or you may use the Card to withdraw funds at any POS device, as permissible by a merchant, that bears the Visa/Mastercard Acceptance Mark. Some of these services may not be available at all terminals. Any funds withdrawn from an ATM or POS device are subject to the transaction limits established under this Agreement. If you seek to withdraw cash from a merchant POS device, please note that each merchant may establish limits as to how much cash may be obtained from a POS device at a single time or through a single location.
When you use an ATM not owned by us, 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. We are not responsible for such fee. The amount of the fee should be disclosed at the ATM. Any such fee will be deducted from the balance of the Card, along with the amount of the withdrawal performed at the ATM.
PIN and Non-PIN Transactions: Merchants may limit the available options for the type of transaction you wish to conduct or may let you choose between a PIN (“Debit”) transaction or a signature (“Credit”) transaction at the point of sale. To initiate a signature transaction at the point of sale, select “Credit” and sign the receipt (if required by the merchant). To initiate a PIN transaction at the point of sale, select “Debit” and enter your PIN at the point of sale terminal. For mail order, telephone, Internet or other card-not-present purchases, merchants may choose to route a transaction as a PIN transaction without asking you to enter your PIN.
Merchant Holds on Available Funds. When you use your Card or Card number to initiate a transaction at certain merchant locations, such as hotels, restaurants, gas stations, and rental car companies, where the final purchase amount is unknown at the time of authorization, a hold may be placed on the available funds in your Card Account for an amount equal to or in excess of the final transaction amount. The funds subject to the hold will not be available to you for any other purpose until the merchant sends us the final transaction amount. Once we receive the final transaction amount, it may take up to seven (7) days for the hold to be removed. During that period, you will not have access to the funds subject to the hold. Please be advised that you may experience difficulties using your Card at unattended vending machines, kiosks, and gas station pumps. If your Card is declined at a “pay at the pump” gas station even though you have sufficient funds available, you should pay for your purchase inside with the cashier.
|Transaction/Load Type||Maximum Frequency/Amount||Maximum Amount|
|Cash Withdrawal (ATM & POS cash back, Domestic & International)||Up to a maximum of $510.00 per transaction, $510.00 per day, and $5,000.00 per month|
|Cash Withdrawal (Bank Teller)||Up to a maximum of $510.00 per transaction, $510.00 per day, and $5,000.00 per month|
|Purchases (POS)||Up to a maximum of $10,000.00 per transaction, $10,000.00 per day, and $30,000.00 per month|
|Card-to-Card transfers||Only for ICM user to user – Up to a maximum of $1,000.00 per transaction, $1,000.00 per day, and $3,000.00 per month|
|ACH Deposits||$30,000.00 (includes all cash and direct deposit loads)|
Loading Your Card Account
You may add funds to your Card Account, called “loading,” by: (i) Automated Clearing House (“ACH”) loads (e.g., direct deposit) up to $30,000.00; (ii) transferring funds from your ICM Account to your Card Account; and (iii) Card-to-Card transfers. Each load may be subject to a fee pursuant to the Fee Schedule provided below. If you arrange to have funds transferred directly to your Card Account from a third party through an ACH load, you must enroll with the third party by providing the bank routing number and direct deposit account number that we provide you. The amount of each load must be at least $1.00, except ACH loads which do not have a minimum. The maximum balance of your card at any time is $30,000.00. Funds held in your Card Account are FDIC insured and are separate from funds held in your ICM Account. There are also maximum load restrictions we may place on your Card when aggregated with any other Cards you have. You agree to present your Card and meet identification requirements to complete load transactions as may be required from time to time.
FEDERAL PAYMENTS: THE ONLY FEDERAL PAYMENTS THAT MAY BE LOADED TO YOUR CARD ACCOUNT VIA AN ACH CREDIT ARE FEDERAL PAYMENTS FOR THE BENEFIT OF THE PRIMARY CARDHOLDER. IF YOU HAVE QUESTIONS ABOUT THIS REQUIREMENT, PLEASE CALL CUSTOMER SERVICE.
Foreign Currency Transactions
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 into an amount in the currency of your Card. The exchange rate between the transaction currency and the billing currency used for processing international transactions is a rate selected by the Card Network from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate the Card Network itself receives, or the government-mandated rate in effect for the applicable central processing date. If you obtain your funds or make a purchase in a currency other than the currency in which your Card was issued, the Bank may assess a foreign currency conversion fee of 3% of the transaction amount and will retain this amount as compensation for its services. Transactions made outside of the 50 United States, the District of Columbia, Puerto Rico, and other U.S. territories are also subject to this conversion fee even if they are completed in U.S. currency.
If you conduct a transaction in a currency other than U.S. dollars, the merchant, the Card Network or other entity that processes the transaction may convert any related debit or credit into U.S. dollars in accordance with its then-current policies. Mastercard and Visa currently use a conversion rate that is either: (a) selected from a range of rates available in the wholesale currency markets (note: this rate may be different form the rate the association itself receives), or (b) the government-mandated rate. The conversion rate may be different from the rate in effect on the date of your transaction and date it is posted to your account. In addition to the currency conversion charge, we will impose a charge equal to 3% of the transaction amount (including credits and reversals) for each transaction (U.S. or foreign currency) that you conduct at merchants (including foreign websites) outside the United States.
DEPOSIT NETWORK SERVICE ACKNOWLEDGEMENT
By utilizing the services, your beneficial funds may be held at Sutton Bank in an omnibus custodial account (“Omnibus Account”). In its ordinary course of business, Sutton Bank may utilize a “Deposit Network Service” to deposit funds from the Omnibus Account into other FDIC insured banks (“Network Banks”). In the event funds from the Omnibus Account are deposited into Network Banks via the Deposit Network Service, Sutton Bank will deliver funds to a custody bank (“Custodian Bank”) participating in the Deposit Network Service. In the event any of your beneficial funds from the Omnibus Account arrive at a Network Bank through a Deposit Network Service, they may be eligible for FDIC insurance, however, in the event you or Sutton Bank have funds, either directly or indirectly, at any of the Network Banks, such deposit insurance coverage may be adversely affected, and the principal and any accrued interest may not benefit from FDIC insurance, even if the total amount deposited in that Network Bank through the Deposit Network Service is less than the Standard Maximum Deposit Insurance Amount, as then provided by the FDIC. In addition, in the event of a failure of a Network Bank, you may be requested to provide certain personal information for the purposes of processing a claim to seek the associated FDIC insurance. In the event you do not provide such information on a timely basis, it is possible the beneficial funds will not benefit from FDIC insurance. By utilizing the services, you authorize Sutton Bank to utilize a Deposit Network Service as described and acknowledge that any associated beneficial principal balance and any accrued interest may or may not benefit from FDIC insurance.
When Value on your Card is Available
Loads are available on the business day when final collected funds are received by us unless a longer time is permitted by applicable law.
Additional Card Features
We may offer additional products, features and services to you in connection with your Card, such as SMS text message and e-mail alerts, mobile account services, and other services. Additional terms and conditions may apply. Contact Customer Service or log on the Website for additional information and applicable terms and conditions.
The ICM Service and ICM Account are offered by Investment Cards RIA, LLC and ICM. The ICM Service allows you to earn a higher rate of return on your liquid funds by investing them on a daily basis in specified securities.
Subject to the Investment Cards RIA, LLC Advisory Agreement, the ICM Account may be linked to your Card Account for purposes of facilitating transactions through your Card. Amounts greater than this Minimum Required Balance will automatically transfer to your ICM Account each business day in accordance with the ICM Terms of Service. When you make transactions that increase your balance, you instruct ICM to purchase securities in your ICM Account.
You acknowledge and agree that by registering for the Card program you authorized ICM to transfer funds between your ICM Account and the Card Account as provided in this paragraph until you withdraw from participating in the Card program (See Website for instructions on withdrawing from the Card program).
When the Card is used for a transaction, funds will be used from your ICM Account and, potentially, from your Card Account for the amount of the purchase in the following manner. An authorization request (e.g., from a merchant) will be transmitted to us. We will communicate with ICM to determine if you have funds in your ICM Account available to fulfill the transaction authorization request. When you make transactions that decrease your balance, you instruct ICM to sell securities in your ICM Account. If ICM notifies us that funds are available for the transaction and the transaction itself is authorized, the funds will be transferred from your ICM Account and deposited to your Card Account. The funds will then be debited from your Card Account for the amount of the transaction.
If ICM notifies us that you have insufficient funds available in your ICM Account for the transaction, but you have sufficient funds in the combined total of your ICM Account and Card Account, the transaction will be split by first applying the amount from your ICM Account in the manner described above and then paying the remaining amount from the Minimum Required Balance contained in your Card Account. If the combined total of your ICM Account and Card Account is not sufficient to complete the purchase, the transaction will be declined.
If ICM notifies us that there are no funds available for the amount of the purchase then no funds will be added to the Card Account and your Minimum Required Balance will be used to pay for the entire amount of the transaction. If your Minimum Required Balance is not sufficient to complete the purchase, the transaction will be declined.
IMPORTANT – THE ICM ACCOUNT IS A NON-DEPOSIT INVESTMENT ACCOUNT. FUNDS OR SECURITIES IN NON-DEPOSIT INVESTMENT ACCOUNTS ARE NOT INSURED BY BANK INSURANCE OR THE FDIC, ARE NOT INSURED BY A FEDERAL GOVERNMENT AGENCY, ARE NOT DEPOSITS OR OTHER OBLIGATIONS OF, OR GUARANTEED BY, THE BANK OR ANY AFFILIATE, AND ARE SUBJECT TO INVESTMENT RISK INCLUDING THE POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.
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, you can contact Customer Service to find out whether or not the deposit has been made.
Right to stop payment and procedure for doing so: If you have told us in advance to make regular payments out of your Card Account, you can stop any of these payments. Contact Customer Service in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. We will charge you for each stop-payment order you give (See “Fee Schedule” paragraph below).
Notice of varying amounts: If these regular payments may vary in amount, the person you are going to pay will tell you, 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 transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
Fraudulent or Criminal Card Account Activity
We reserve the right to block, suspend, or cancel your Card if, as a result of our policies and processes, we detect what we reasonably believe to be fraudulent, suspicious, or criminal activity or any activity inconsistent with this Agreement. We may temporarily suspend your Card in the event we detect unusual or suspicious activity. If we exercise this right, we will incur no liability to you because of any resulting unavailability of the funds in your Card Account or your inability to use your Card.
Refunds and Returns
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 for such refunds and agree to the refund policy of that merchant. The exchange or return of merchandise purchased in whole or in part with the Card will be governed by the procedures and policies of each merchant and applicable law. At the time of any exchange or return, you should present both the merchandise receipt and the Card. If you receive a credit, the credit may not be added to the available funds on the Card for seven (7) business days. Neither the Bank, the Card Network, the Processor nor the Program Manager, nor their respective affiliates, employees or agents are responsible for the delivery, quality, safety, legality or any other aspects of goods or services that you purchase from others with a Card or any damages resulting directly or indirectly from the use of the Card. All such disputes must be addressed and handled directly with the merchant from whom those goods or services were provided.
If you need to replace your Card for any reason, please contact us at Customer Service 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. We reserve the right to require an affidavit signed by you and conduct an investigation into the validity of any request. There is a fee for expedited shipping of a replacement Card in the amount shown in the paragraph of this Agreement captioned “Fee Schedule” below, which will be deducted from the balance associated with the new Card. It may take up to thirty (30) days to process a request for a replacement Card although we will endeavor to provide you with a replacement Card on as timely a basis as is reasonable under the circumstances.
The Card plastic is valid through the expiration date shown on the front of the Card, except where prohibited or modified by applicable law. The funds associated with the Card do not expire. You will not be able to use your Card after the valid through date; however, you may request a replacement Card at no cost to you by following the procedures in the paragraph labeled “Card Replacement.” The new Card will have a value equal to the remaining balance of the expired Card.
You should get a receipt at the time you make a transaction using your Card. You agree to retain, verify, and reconcile your transactions and receipts.
Card Account Balance/Periodic Statements/Cardholder Agreement
You are responsible for keeping track of your Card Account 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 the amount of money you have remaining in your Card Account by calling Customer Service. This information, along with a 12-month history of Card Account transactions, is also available online at our Website. If your Card Account is registered with us, you also have the right to obtain at least 24 months of written history of account transactions by calling Customer Service, or by writing us at 225 North Michigan Ave, Suite 1410, Chicago, IL 60601. You will not be charged a fee for this information unless you request it more than once per month.
A copy of this Agreement is available to you on our Website at www.investorcashmanagement.com.
Below is a list of all fees for the ICM Investment Debit Card. All fees assessed by us are deducted from the available balance in your Card Account. If your Card Account does not have sufficient funds available to cover a fee, the amount of such fee will be deducted from any funds subsequently loaded to your Card Account. The fees that apply to your Card Account are as follows:
|Card purchase||$0||There is no card purchase fee|
|Monthly fee||$0||There is no monthly fee|
|Direct deposit||$0||There is no fee for Direct Deposits|
|Cash reload||N/A||Cash reloads are not permitted|
|Bill payment (regular delivery)||$0||Bill pay is available when you log in to your account at neamb.investorcashmanagement.com or using the NEA Smart Money Account mobile app. Regular bill pay transactions will be completed within 3 Business Days for electronic payments and within approximately 7 days if we have to mail a paper check to your bill.|
|ATM withdrawal (in-network)||$0||“In-network” refers to Allpoint ATM Network. Locations can be found at www.allpointnetwork.com. There is no fee for withdrawals at Allpoint ATMs.|
|ATM withdrawal (out-of-network)||$2.50||“Out-of-network” refers to all the ATMs outside of the Allpoint ATM Network. You may be charged a fee by the ATM operator, even if you do not complete a transaction.|
|Customer service (automated)||$0||No fee for calling our automated customer service line, including for balance inquiries.|
|Customer service (live agent)||$0||No fee for calling a live agent.|
|ATM balance inquiry (in-network)||$0||“In-network” refers to the Allpoint ATM Network. Locations can be found at www.allpointnetwork.com.|
|ATM balance inquiry (out-of-network)||$0||“Out-of-network” refers to all the ATMs outside of the Allpoint ATM Network. You may be charged a fee by the ATM operator.|
|Teller Cash||$3||Teller cash refers to cash withdrawals done at a teller at a bank branch|
|Using your card outside the U.S.|
|International transaction||3%||Of the U.S. dollar amount of each transaction.|
|International ATM withdrawal||$3.50||You may be charged a fee by the ATM operator, even if you do not complete a transaction.|
|International ATM balance||$0||You may be charged a fee by the ATM operator.|
|Inactivity||$0||There is no inactivity fee for the card.|
|Lost/Stolen card replacement fee||$10||If your card is lost or stolen, please contact us at 1 (844) 333-3102 and we will reissue your card. A card replacement fee will be debited from your account.|
|Expedited delivery of lost/stolen card replacement||$25||This fee is in addition to the Lost/Stolen card replacement fee.|
Applicable law may require us to report to state government authorities any funds remaining with respect to your Card after a certain period of inactivity. In that event, we may try to contact you at the address shown in our records. If we are unable to contact you, we may be required to transfer any funds remaining with respect to your Card to state government authorities as unclaimed property.
We may disclose information to third parties about you, your Card, or the transactions you make:
(1) Where it is necessary or helpful for completing transactions;
(2) In order to verify the existence and condition of your Card for a third party, such as merchant;
(3) In order to comply with government agency, court order, or other legal or administrative reporting requirements;
(4) If you consent by giving us your written permission;
(5) To our employees, auditors, affiliates, service providers, or attorneys as needed;
(6) In order to prevent, investigate or report possible illegal activity;
(7) In order to issue authorizations for transactions on the Card;
(8) As permitted by applicable law; or
(9) Otherwise as necessary to fulfill our obligation under this Agreement.
Our Liability for Failure to Complete Transactions
If we do not properly complete a transaction 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:
(1) If through no fault of ours, you do not have enough funds available on your Card to complete the transaction;
(2) If a merchant refuses to accept your Card;
(3) If an ATM where you are making cash withdrawal does not have enough cash;
(4) 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;
(5) If access to your Card has been blocked after you reported your Card lost or stolen;
(6) If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
(7) If we have reason to believe the requested transaction is unauthorized or if we, in our sole discretion, suspect unusual or suspicious activity;
(8) 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
(9) For any other exception stated in our Agreement with you or by applicable law.
Your Liability for Unauthorized Transfers
Contact us at once if you believe your Card or PIN has been lost or stolen. Telephoning is the best way to minimize your possible losses. If you believe your Card has been lost or stolen, or that someone has transferred or may transfer money from your Card Account without your permission, call us at Customer Service.
Also, if you become aware of and/or your statement or electronic history shows transactions that you did not make, notify us at once following the procedures stated in the paragraph labeled “Your Right to Dispute Errors”. If you do not notify us in writing within sixty (60) days after you become aware of the transaction and/or after the statement was made available to you, you may not get back any value 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 and you are grossly negligent or fraudulent in the handling of your Card. 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 your Card has been lost or stolen, we will close your Card Account to keep losses down. Upon your request, we will issue you a replacement Card.
Assignment; Applicable Law; Severability
Your Card and your obligations under this Agreement may not be assigned. We may 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. If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected. This Agreement will be governed by the law of the State of Ohio except to the extent governed by federal law. You consent and submit to the exclusive jurisdiction of the state and federal courts located in Ohio, with respect to all controversies arising out of or in connection with the use of the Card and this Agreement that are not subject to arbitration or to any proceeding to enforce the Arbitration Clause or to confirm or vacate an arbitration award.
Amendment and Cancellation
We reserve the right to change, delete or add to this Agreement and to apply any such modification to a Card and to any available balance on the Card. We will provide you notice of any such modification as required by applicable law. However, if the change is made for security purposes, we can implement such changes without prior notice. You hereby agree to accept all legally required notices by electronic means including posting on our web site or, at our election, U.S. postal mail. You hereby acknowledge and agree that all notices or modifications to this Agreement may be made by posting at our web site or other notice to you and become effective on the later of ten (10) days after the date of the notice or the effective date specified in the notice unless you cancel your Card in accordance with this Section. If you use your Card after such notice or modification is provided, you are agreeing to the change. Please visit us at our Website for our current Terms and Conditions. If we decide not to enforce our rights or charge a fee in one situation, we are not giving up our right to enforce it or to charge the fee in a later situation.
If you want to cancel the Card, please contact Customer Service. Upon cancellation of your Card, we will continue to honor transactions you have made up until your Card cancellation is processed in accordance with this Agreement, which may take up to forty-five (45) days following the cancellation of your Card, during which regular fees will apply. Cancellation of your Card will not affect any of our rights or your obligations arising under this Agreement before the Card was cancelled. In the event of suspected fraud, abuse of the Card Program privileges, or violation of this Agreement (for example, any attempt to sell or exchange your Card), we, in our sole discretion, reserve the right to cancel your participation in the Program. Any funds remaining on the Card after cancellation will be sent to you via a refund check. There is no fee for this service. The Issuer reserves the right to refuse to return any unused balance amount less than $1.00. Any request for a return of funds shall be processed within a reasonable period of time after your request.
We reserve the right to deduct funds from your Card Account in order to correct a previous error or overpayment to you.
Your Right to Dispute Errors
In case of errors or questions about your electronic transactions or Card Account, contact us at as soon as you can if you think your statement or receipt is wrong or if you need more information about a transaction listed on the statement or receipt. We must allow you to report an error until sixty (60) days after the earlier of the date you electronically access your Card Account, if the error could be viewed in your electronic history, or the date we sent the FIRST written history on which the error appeared. You may request a written history of your transactions at any time by contacting Customer Service at 1 (844) 333-3102. You will need to tell us:
1. Your name and Card Account number
2. Why you believe there is an error, and the dollar amount involved
3. Approximately when the error took place
If you provide this information orally, we may require that you send 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 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 within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes to complete the investigation. If we ask you to put your complaint or question in writing and you do not provide it within ten (10) business days, we may not credit your Card.
For errors involving new Cards, POS transactions, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
We will tell you the results within three (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 address listed at the beginning of this Agreement. If you need more information about our error-resolution procedures, please contact Customer Service.
No Warranty of Availability or Uninterrupted Use
From time to time the Card services may be inoperative, and when this happens, you may be unable to use your Card or obtain information from your Card, including the available balance of funds associated with your Card. Please notify us at the Customer Service number stated below if you have any problems using your Card. You agree that the Issuer, ICM, and their respective affiliates, employees, or agents are not responsible for any interruption of service.
Although considerable effort is expended to make our Website and other operational and communications channels available around the clock, we do not warrant these channels to be available and error free every minute of the day. You agree that we will not be responsible for temporary interruptions in service due to maintenance, Website changes, or failures, nor shall we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labor disputes and armed conflicts.
You agree to act responsibly with regard to our Website and its use. You will not violate any laws, interfere or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten or harass anyone, gain any unauthorized entry, or interfere with the Website’s systems and integrity.
We shall not bear any liability, whatsoever, for any damage or interruptions caused by any “computer viruses” that may affect your computer or other equipment. We advise the regular use of a reputable and readily available virus screening and prevention software.
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.
For customer service or additional information regarding your Card, please contact Customer Service at 1 (844) 333-3102.
Customer Service agents are available twenty-four (24) hours a day, seven (7) days a week to answer your calls.
You agree that from time to time, without further notice to you, we may monitor and/or record telephone calls and electronic communications 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.
Section headings in this Agreement are for convenience of reference only, and shall not govern the interpretation of any provision of this Agreement.
This Agreement sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to its subject matter and supersedes any prior or contemporaneous understandings or agreements with respect to their subject matter.
You or we may elect to resolve any claim by an individual arbitrator. Claims are decided by a neutral arbitrator. If arbitration is chosen by any party, you and we hereby waive the right to litigate the claim in court or have a jury trial on that claim. Further, you and we will not have the right to participate in a representative capacity or as a member of any class pertaining to any claim subject to arbitration.
Any claim, dispute, or controversy (“Claim”) between you and us arising out of or relating in any way to this Agreement, your Card, your purchase of the Card, your usage of the Card, or transactions on the Card, no matter how described, pleaded or styled, shall be finally and exclusively resolved by binding individual arbitration conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules in your state of residence at a location that is reasonably convenient for both parties.
We will pay all fees associated with administration of arbitration, including fees to commence the arbitration. At your written request, we will consider in good faith making a temporary advance of your share of any arbitration fees, or paying for the reasonable fees of an expert appointed by the arbitrator for good cause.
Arbitration procedures are generally simpler than the rules that apply in court, and discovery is more limited. The arbitrator’s decisions are as enforceable as any court order and are subject to very limited review by a court. Except as set forth below, the arbitrator’s decision will be final and binding. Other rights you or we would have in court may also not be available in arbitration.
NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION, OR PRIVATE ATTORNEY GENERAL ACTION, OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON SHALL BE ALLOWABLE IN ARBITRATION.
This arbitration provision shall survive: (i) the termination of this Agreement; (ii) the bankruptcy of any party; and (iii) any transfer, sale or assignment of your Card, or any amounts owed on your Card, to any other person or entity. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall nevertheless remain in force. Any different agreement regarding arbitration must be agreed to in writing.
This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16.
Solely for purposes of this Section (“Arbitration”), “We” or “Us” shall mean the Issuer, and its respective successors, affiliates or assignees as well as any third party using or providing any product, service or benefit in connection with the Card.
You may reject this Arbitration provision by sending a written rejection notice to us at: 225 North Michigan Avenue, Suite 1410, Chicago, IL 60601. Your rejection notice must be mailed within 45 days after your first card purchase. Your rejection notice must state that you reject the Arbitration provision and include your name, address, Account number and personal signature. No one else may sign the rejection notice. If your rejection notice complies with these requirements, this Arbitration provision and any other arbitration provisions in the cardmember agreements for any other currently open ICM accounts you have will not apply to you, except for any claims subject to pending litigation or arbitration at the time you send your rejection notice. Rejection of this Arbitration provision will not affect your other rights or responsibilities under this section or the Agreement.
IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, DO NOT ACTIVATE OR USE THE CARD, SAVE YOUR RECEIPT AND CONTACT CUSTOMER SERVICE TO CANCEL YOUR CARD AND TO REQUEST A REFUND.
Please refer to your card for the applicable card network.
This card is issued by Sutton Bank, Member FDIC, pursuant to license by Visa USA, Inc.
This card is issued by Sutton Bank, Member FDIC, pursuant to license by Mastercard International Incorporated.
This Cardholder Agreement is effective as of the Revision Date set forth above.