Common use of Prepaid Card Clause in Contracts

Prepaid Card. The Physical Card is a prepaid card and the Virtual Card is a prepaid virtual card, which has all the features of a prepaid card, but a plastic card is not issued for access. The Physical Card or Virtual Card is provided to you as part of a customer incentive program sponsored by the Sponsor and is loaded by the Sponsor with a specific amount of funds. This Card is not a credit card or charge card that allows you to make purchases and pay later and using the Card will not affect your credit history. The Card is not connected in any way to any other account. You will not receive any interest on the funds on your Card. The Card will remain the property of the Bank and must be surrendered upon demand. The Card is nontransferable and may be canceled or revoked at any time without prior notice except as required by law.

Appears in 2 contracts

Samples: Cardholder Agreement, Cardholder Agreement

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