Business Debit Card Terms and Conditions

Business Visa® Debit Card Agreement

This Business Visa Debit Card Agreement includes this document, any letter, card carrier, card insert, addenda, any other document accompanying this agreement, any application that you signed or submitted to us, and any notification of changes to this agreement.

1. Definitions.
"Agreement" means this UVA Community Credit Union Business Visa® Debit Card Agreement. "We," "us," or "our" means UVA Community Credit Union or credit union. "You" or "your" means each natural person, company, or business entity who authorized the card by application or who uses the card as a cardholder. "Account" means your business checking or business savings account with us for which card transactions are permitted (unless a cardholder requests for a transaction to be made from your business savings account at an ATM, all transactions will be made from your business checking account). "Card" means the Business Visa® Debit Card issued to you for your account with us. "Cardholder" means anyone authorized by you to use a card. "ATM" means automated teller machine. "PIN" means personal identification number. "Business use" means transactions performed for commercial or business purposes. "Consumer use" means transactions performed for personal, family, or household use.

2.This Is Your Contract with Us.
By using or permitting another to use your card, you are accepting the terms of this agreement and are agreeing to keep all your promises to us contained in this agreement.

3. Business Card Purpose.
You agree that your card will be used solely for business use and not for consumer use. You understand that your agreement not to use this account for consumer use means that we are not providing certain important duties imposed upon us when issuing a card for consumer use. You also understand that we will be unable to determine whether any given transaction conforms to a business use.

4. Card Issuance.
We agree to issue cards to your employees as authorized users, as instructed by you from time to time, at our sole discretion. Each card issued will be issued under your account. Each cardholder will have a different PIN number and card number. You are solely and primarily responsible for all transactions made and amounts due on each card issued. Use of cards issued under this agreement is deemed a use by you.

5. Account Requirement, Payment Responsibility, Transferability, Enforceability.
The services described in this agreement will be available to you only as long as you maintain an account with us. You are solely and primarily liable for card transactions authorized by you or a cardholder. Use of cards issued under this agreement is deemed as use by you. You are responsible for all transactions made by anyone you allow to use the card, even if the amount is more than you intended, or they transact for items not intended by you. If you ask us to issue a card to someone, you are responsible for their transactions until you return their card to us. As between you and us, each person to whom a card is issued shall be deemed authorized to use the card until that authority is expressly revoked by you and the person’s card is returned to us. As between you and us, all uses of a card by any person to whom a card is issued (or by any person that person provides their card to) shall be deemed authorized uses and you shall be responsible for all transactions thereon regardless of the purpose thereof and regardless of whether the person violates your rules pertaining to card usage. This account may not be transferred or assigned without our written consent. If any terms of this agreement cannot be legally enforced, it will be considered changed to the extent necessary to comply with applicable laws. If any part of this agreement becomes unenforceable, it will not make any other part unenforceable.

6. How to Use the Business Card, Security Procedures.
The card allows cardholders to directly access the business checking or business savings account specified in your card application. We will issue cards and PINs to you at your request. Each cardholder must sign their card before it may be used. You agree to require both a card and a PIN to be used together to obtain cash at designated ATMs. However, you may use your card to purchase goods or pay for services without a PIN (a signaturebased transaction). Once a card has been issued it cannot be transferred to another person. You agree to immediately notify us when you terminate a cardholder’s rights and to promptly return the card to us. You agree to instruct all cardholders about the importance of protecting the card and PIN. You agree to examine your receipts and periodic statements in a timely manner.

7.Termination and Amendments.
Either the Company or the Credit Union may terminate this Agreement in its entirety or may terminate individual or collective Card privileges at any time, but any such termination shall not affect any of the Company’s existing obligations under this Agreement. Each Card is the property of the Credit Union and each card is nontransferable and must be surrendered to the Credit Union upon demand. We may terminate this agreement by written notice to you. You may terminate this agreement by written notice to us. We may make amendments to this agreement in the same method as provided in the terms and conditions provided in your account agreement. Use of a card after your receipt of notice of an amendment constitutes your acceptance of the change.

8.Termination of Authorized Cardholder’s Employment.
If an Authorized Cardholder’s employment with the Company is terminated, the Company will immediately notify the Credit Union that the Authorized Cardholder’s employment has been terminated so that the Credit Union can cancel the Authorized Cardholder’s Card. Until the Credit Union receives such notification, the Card shall remain subject to this Agreement and the Company shall remain liable for all transactions conducted by use of the Card unless otherwise specifically set forth herein.

9. Notices.
Any notices mailed to you under this agreement will be mailed to the address we have for you in our records. You will keep us notified of your current mailing address.

10. Cancellation of Cards:
(a) If the Company at any time wishes to cancel, increase, reduce or otherwise change any limit or other requirement on any outstanding Card, the Company shall notify the Credit Union in of the requested action and the requested effective date of such action. Upon cancellation of any Card, the Company will promptly notify the Authorized Cardholder and will use its best efforts to obtain the canceled Card and destroy the Card. Limit increases are subject to Credit Union approval.

(b) Upon cancellation of a Card in accordance with this Agreement, the Company shall remain liable for all transactions conducted by the use of the Card prior to such cancellation or termination unless otherwise set forth in this Agreement.

(c) Upon the Credit Union’s reduction of or change in any limit or other requirement on any outstanding Card, the Company shall promptly notify the Authorized Cardholder. Notwithstanding any such notice, the Company shall remain liable for all amounts incurred by the use of the Card unless otherwise specifically set forth herein.

11. Stop Payment.
Stop payments are not permitted on debit card transactions.

12. Deposits at Automated Teller Machines.
You cannot make ATM deposits with your Business Visa® Debit Card.

13. ATM Transactions and Charges.
You may access your account by ATM using your card and PIN to:
                1) Obtain account balance information;
                2) Get cash withdrawals from your business checking or business savings account; and
                3) Transfer funds between your business checking and business savings accounts.

There is a charge per transaction or inquiry at ATMs we do not own or operate. See the Business Fee Schedule for current ATM fees. In addition, the owner of the ATM may add a fee to the amount of your transaction or inquiry. If so, that fact should be disclosed on the ATM.Some of these services may not be available at all terminals. Some of these services may not be available at all terminals.

14. PointofSale Transactions and Charges.
You may access your business checking account via a PINbased or signaturebased transaction to purchase goods (in person or by phone), pay for services (in person or by phone), get cash from a merchant (if the merchant permits) or from a participating financial institution, and do anything that you can do with a credit card (that a participating merchant or financial institution will accept). The owner of the pointofsale machine may add a fee to the purchase amount and should indicate so with appropriate signage.

15. Dollar and Transaction Limitations.
Use of the card for a purchase is regarded as a withdrawal from the account at the time the card is used, even if the transaction is not immediately reflected on your account. The following are the dollar and transaction limitations on your card:
•ATM withdrawals have the following percard dollar limits: $405.00 daily
•Pointofsale transactions have the following percard dollar limits: $3,000.00 daily

16. Advisory Against Illegal Use.
You agree not to use your card for illegal gambling or other illegal purpose. Display of a payment card logo by, for example, an online merchant does not necessarily mean that transactions are lawful in all jurisdictions in which the cardholder may be located.

17. Internet Gambling Disclosure.
Your card may not be used for Internet gambling transactions. We will decline all known Internet gambling transaction requests. We may also decline all transactions with a mismatched expiration date and transactions that are handkeyed if the handkeyed transaction is for any type of betting, including lottery tickets, casino gaming chips, offtrack betting, and wagers. You agree that the use of the account to obtain a service or effect a transaction that is illegal under the law of any jurisdiction where originated, effected, or accomplished will be a default and breach of this agreement. As a result, we may terminate the access to the service or withdraw the right to use the card and/or demand the return of all cards or other access devices issued to you. If illegal use of your card occurs, you waive the right to sue us and agree to indemnify and hold us harmless from any suits or other legal action or liability which may be asserted.

18. Documentation, Terminal Transfers.
You can get a receipt at the time you make transactions from merchants or financial institutions participating in the program. You will get a monthly account statement from us for your business checking accounts. You will get a monthly statement from us for your business savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

19. Limitation of Liability. We will not be liable if:
• You do not have enough money in your account to make a transfer;
• You have an overdraft line and the transfer would cause you to exceed your credit limit;
• An ATM does not have sufficient cash;
• A terminal or system is not working properly;
• Circumstances beyond our control (such as fire or flood) prevent the transfer;
• A merchant refuses to accept your card; or
• An ATM rejects your card.

20. Liability for Unauthorized Use and Promise to Pay.
You agree to be unconditionally and without limitation liable for all debits effectuated by use of the Cards, whether authorized or unauthorized, whether utilized by Employees or some other person, and whether arising from Cards that have been lost or stolen. All Employees who are granted use of the Cards shall be deemed third party beneficiaries of the accommodation extended hereunder and of the terms and conditions of this Agreement. Accordingly, such Employees shall be jointly and severally liable with Company for any debits effectuated under the Cards issued to the respective Employees, whether authorized or unauthorized, and whether arising from lost or stolen Cards. You will not have the benefit of any consumer law limiting liability with respect to the unauthorized use of your card. "Unauthorized use" means the use of your card by a person other than you who does not have actual, implied, or apparent authority to use your card and from which you receive no benefit. Notify us immediately, in writing or by telephone at the address or telephone number provided below if your card is lost, stolen, or you suspect there has been an unauthorized use of your card (we may require you to provide us with proof (including an affidavit) of an unauthorized use after notification to us). After we receive your notification, you will not be liable for any further unauthorized use of your card. In the event of a lost Card or of unauthorized use of a Card, we should be notified by calling 434.964.2001 or 800.991.4965(after hours).

OVERDRAFTS. Unless you have available funds through overdraft protection services with us, you may not under any circumstances overdraw the Account or any other Business checking account you may have with us. If you do, you will be in default under this Agreement, the Deposit Agreement, and any other related agreement. As a result, we will be under no obligation to authorize any additional transactions. If we pay a transaction initiated with a Card which results in an overdraft in your Account, you agree, upon receiving notice, to immediately deposit sufficient funds to the Account to cover the overdraft, and to pay an overdraft fee, established from time to time by Us, for the period during which your account remains overdrawn.

VISA’S ZERO LIABILITY POLICY. To the extent not covered by paragraph 20, Visa’s Zero Liability Policy has been devised to provide you with protection against unauthorized signaturebased Visa Business Check Card transactions (PIN transactions are not covered under Visa’s Zero Liability Policy) processed through the Visa network including Internet and telephone purchases. If you suspect that your Visa Business Check Card or card number has been lost or stolen, you may not be responsible for any unauthorized signaturebased purchases if you report the theft promptly.

(a) Upon oral notification from you of unauthorized Visa transactions, we may limit your liability for those transactions to zero. We require such notification to be received within 60 calendar days of the mailing date of the first statement showing any unauthorized Visa transactions. In evaluating your claim, we will consider whether negligence on your part has contributed to the transactions in question. We may increase this limit if, based on available evidence, it is reasonably determined that you were negligent or acted fraudulently in the handling of the card or account.
(b) We will provide you with provisional credit for unauthorized signaturebased Visa transactions within five business days from receipt of notification. Additionally, we may require written confirmation of the unauthorized Visa transaction(s) before providing provisional credit.
(c) We define an "unauthorized transaction" to exclude either or both of the following:
1) Any transaction by; (a) a business coowner; (b) a cardholder; (c) a person authorized by a cardholder; or (d) any other person with an interest in or authority to transact business on the account.
2) Any transaction by a cardholder that exceeds the authority given by the Visa Business Check Card account owner.
(d) If you believe that your Card, Card account number and/or its associated PIN have been lost or stolen, you agree to notify us immediately. Telephoning us at 434.964.2001 or 800.991.4965 (after hours) is the best way of initially notifying us.

FOREIGN TRANSACTIONS. All transactions into or from the Account will be stated in U.S. dollars. If an Authorized User uses a Card to initiate a transaction in a foreign currency, the amount of the transaction will be converted to U.S. dollars by Visa International when the item is processed. The exchange rate applied to such transactions will, depending on the foreign currency involved, be either: (a) the wholesale market rate; or (b) the government mandated rate in effect one day prior to the processing date, plus a percentage fee for Visa International services.

21. Documentation, Terminal Transfers.
You can get a receipt at the time you make transactions from merchants or financial institutions participating in the program. You will get a monthly account statement from us for your business checking accounts. You will get a monthly statement from us for your business savings accounts, unless there are no transfers in a particular month. In any case, you will get a statement at least quarterly.

22. Effect of Agreement.
This agreement is the contract which applies to all transactions on your account even though the sales, cash advances, credits, or other slips you sign or receive may contain different terms.

23. No Waiver.
We can delay enforcing any of our rights any number of times without losing them.

24. Attorney Fees.
If we refer your account to an attorney for collection, we may charge you (when permitted by law) for reasonable attorney fees and court costs incurred by us. This paragraph will not be considered a part of this agreement if you live in a state that does not allow us to collect attorney fees and court costs.

25. Governing Law.
This agreement and all transactions hereunder shall be construed as contracts subject to applicable federal law and the laws of the Commonwealth of Virginia. Any legal proceeding between the parties which relates to or arises out of the Agreement shall be brought only in a state court located in the City of Charlottesville, Virginia or a federal court located in the City of Charlottesville, Virginia, whichever is proper (the "Court"). The parties irrevocably consent to the jurisdiction of the Court and waive any objections they may now have or hereafter have to venue therein.

26.Address For Notices To Us.
Unless otherwise provided in this agreement, all notices to us under this agreement must be addressed to UVA Community Credit Union, 3300 Berkmar Drive, Charlottesville, Virginia, 22901; Telephone 14349642001.

27.Other Agreements.
This agreement supersedes all prior agreements between you and us governing the use of cards issued by us.

 

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