Last updated on August 19, 2014
Last updated on August 19, 2014
This PayPal Debit Student Cardholder Agreement ("Agreement") is a contract outlining the terms and conditions between you and The Bancorp Bank and applies to your use, and the Child's use, of the PayPal Student Debit MasterCard (“Student Card” or “Card”) issued by The Bancorp Bank, Wilmington, Delaware, an FDIC insured member institution. This Agreement applies to you in addition to the PayPal Student Account Agreement and other applicable agreements between you and PayPal.
"Debit Card" or "Card" means the Debit Card issued to You by The Bancorp Bank. “Issuer” means The Bancorp Bank. “You” and “your” means the Parent or Child 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, our successors, affiliates, assignees and our third party service providers. “Card Account” means the records we maintain to account for the value of transactions associated with the Card. All capitalized terms shall have the definitions provided in this Agreement, or if a definition is not provided in this Agreement, the definition in the PayPal User Agreement shall apply. By accepting and using the Student Card, you agree to be bound by the terms and conditions in this Agreement. 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 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. We may refuse to process any transaction that we believe may violate the terms of this Agreement.
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.
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. Please read this Agreement carefully and keep it for future reference.
THIS AGREEMENT IS SUBJECT TO ARBITRATION PURSUANT TO THE FEDERAL ARBITRATION ACT. See Section 23 (Arbitration) below.
BY APPLYING FOR AND RECEIVING A STUDENT CARD, PARENT AGREES TO BE FULLY LIABLE AND RESPONSIBLE FOR ALL OF THE CHILD'S ACTIONS, OBLIGATIONS, AND LIABILITY RELATED TO THE STUDENT CARD AND THE PAYPAL SERVICES.
The Parent must apply for the Student Card. By creating a Student Account with PayPal you are also requesting a Student Card Account. The Bancorp Bank and PayPal retain sole discretion to accept or reject any application for a Student Card. The USA PATRIOT Act is a federal law that requires all financial institutions to obtain, verify, and record information that identifies each person who opens a Student Card Account. What this means for you: When you open a Student 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 at any time.
The Debit Card allows you to access the funds which PayPal has placed with us in accordance with Section 5 of the PayPal User Agreement.
You must activate your Card before it can be used. You may activate the Debit Card by calling 800-314-8298 or online by logging into your PayPal Account and following the activate instructions on the card carrier. For your security, you will need to provide personal information in order to verify your identity and complete the activation process.
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 13 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 residing in the United States 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.
Card not Present Transactions. If you use the Card number without presenting the Card in person (such as for a mail order, telephone, or internet purchase), 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 the Card in these scenarios. You may not use your Debit Card for online gambling or any other illegal transaction.
Foreign 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 MasterCard International Incorporated 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 MasterCard International Incorporated from the range of rates available in wholesale currency markets for the applicable central processing date, which may vary from the rate MasterCard International Incorporated itself receives, or the government-mandated rate in effect for the applicable central processing date.
ATM withdrawal and spending limits. Student Card transactions are subject to a standard daily limit of $150.00 for ATM withdrawals and cash-like withdrawals (e.g. cash advances), a standard $500.00 daily limit for purchases, and a standard $2,000.00 monthly limit for all Card transactions. PayPal retains sole discretion to apply and change these limits.
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, except where prohibited by law. Anytime 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.
US ATM Withdrawal (Debit Card ATM Withdrawal From) | $1.50 Per ATM Withdrawal within US (Plus any amounts charged by the ATM owner.) |
Signature Withdrawal (Debit Card Cash Advance To) | $3.00 Per Signature Withdrawal if a signature is required to obtain cash. |
Non-US ATM Transaction-Using an ATM that is not in the US (Debit Card ATM Withdrawal From) | $1.50; Per withdrawal from a non-US ATM. This fee will apply even if the transaction does not require a currency conversion. |
Foreign Transaction Fee (Debit Card Signature Purchase To or Debit Card ATM Withdrawal From) | 1%; Per purchase from a non-US merchant or use at a non-US ATM.. This fee will apply even if the transaction does not require a currency conversion |
If you use an ATM for any transaction, including a balance inquiry, you may be charged a fee by the ATM owner even if you do not complete a withdrawal. This ATM fee is a third party fee amount assessed by the individual ATM operator only and is not assessed by us. This ATM fee amount will be charged to your Card.
The Student Card does not have a reward or cash back program.
The PIN issued with the Student Card is a security code, which has been designed to protect your transaction Card Account against unauthorized use. The PIN provides enhanced security for your Student Card Account and must be used when making debit transactions to your Student Card Account. It is your electronic signature. Since the PIN is for security purposes, you should memorize it and it should not be disclosed to anyone. You should not write or keep your PIN with your Card. 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. You can change your PIN at any time, and a temporary hold can be placed on your Card Account if the PIN has been compromised or if your Card is lost or stolen. Maintaining the security of your PIN and Card is your responsibility. If you believe that anyone has gained unauthorized access to your PIN, you should advise us immediately.
You may access the transaction history and balance by logging into the Student Card Account on www.paypal.com and clicking on the "History" tab. You should do this regularly to verify the activity on your Card Account.
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 refunds and agree to the refund policy of the merchant. If you have a problem with a purchase that you made with your Card, or if you have a dispute with the merchant, you must attempt to resolve it directly with the merchant first.
If you need to replace the Card for any reason, please contact customer service at 866-888-6080 to request a replacement Card. You will be required to provide personal information which may include your Card number, full name, transaction history.
To read the Privacy Policy governing the confidentiality and disclosure of your Card Account information, go online at www.paypal.com and click the link for legal agreements at the bottom of any page. Notwithstanding the Privacy Policy, we may disclose information to third parties about your Card or the transactions you make:
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:
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 Delaware except to the extent governed by federal law.
From time to time, we may amend this Agreement by posting a revised version on the PayPal website and mailing you a revised version to Your address of record. The revised version will be effective at the time we post it. In addition, if the revised version includes a Substantial Change, we will provide you with thirty (30) days prior notice of Substantial Change by posting notice on the "Policy Updates" page of the PayPal website. However, if the change is made for security purposes, we can implement such change without prior notice. We may cancel or suspend your Card or this Agreement at any time. You may cancel this Agreement by returning the Card to us. Your termination of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination.
18.1 Protection for Unauthorized Transactions and Other Errors.When an Unauthorized Transaction or Other Error occurs through your Card Account, including Unauthorized Transactions that occur because your Card has been lost or stolen, we will cover you for the full amount of every eligible Unauthorized Transaction or Other Error as long as you follow the procedures discussed below in Section 18.2.
An "Unauthorized Transaction" is a type of error that occurs when money is sent from your Card Account that you did not authorize and that did not benefit you. For example, if someone steals your Debit Card and PIN, uses the Debit Card to access your Card Account, and makes a withdrawal from your Card Account, an Unauthorized Transaction has occurred. If you give someone your Card and give them permission to use it, you will be responsible for all transactions conducted by them on your Card Account even if they have conducted more transactions than you authorized, unless you notified us that transfers by that person are no longer authorized.
In addition, "Other Errors" occur when money is either incorrectly taken from your Card Account or incorrectly placed into your Card Account, or when transactions are incorrectly recorded in your Card Account. Other Errors that are covered by us are limited to the following events: if you send a payment and it is incorrectly debited from your Card Account; if an incorrect amount is credited to your Card Account; if a transaction is missing from or not properly identified in your Card Account statement; if you receive an incorrect amount of money at an ATM; and if there is a computational or mathematical error by us.
You may request documentation or information regarding your Card Account or transaction to determine whether an Unauthorized Transaction or Other Error exists by contacting us through the Contact Us link at the bottom of each page of the PayPal website.
18.2 Notification Requirements.
In case of errors or questions about your electronic transactions, call 866-888-6080 or write to Cardholder Services, PayPal Debit Card Department, Attn: Dispute Resolution, P.O. Box 45950, Omaha, NE 68145-0950 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 calling us at 866-888-6080 or writing us at PayPal Debit Card Department, Attn: Dispute Resolution, P.O. Box 45960, Omaha, NE 68145-0950 You will need to tell us:
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 you do not have federal payments (for example, Social Security benefits, tax refunds or other government payments) deposited to your Card Account, we may not credit your Card. 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, 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 Card 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 section. If you need more information about our error-resolution procedures, call us at 866-888-6080.
18.3 Processing Errors. We will rectify any processing error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, PayPal will credit your Card Account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, PayPal will debit the extra funds from your Card Account. If the error resulted in our not completing a transaction on time or in the correct amount, we will be liable for your losses or damages directly caused by this failure, unless: (a) through no fault of ours, you did not have enough available funds to complete the transaction, (b) our system was not working properly and you knew about the breakdown when you started the transaction, or (c) circumstances beyond our control (such as fire, flood or loss of Internet connection) prevented the transaction, despite our reasonable precautions.
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 us at:
PayPal Debit Card Program
PO Box 45950
Omaha NE 68145-0950
866-888-6080
Customer Service agents are available to answer your calls:
Monday-Friday 7:00 AM-10:00 PM Central time;
Saturday-Sunday 8:00 AM-8:00 PM Central time (holidays excluded).
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.
We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with your Card.
Any claim, dispute, or controversy (“Claim”) arising out of or relating in any way to: i) this Agreement; ii) your Card; iii) the Cards of any additional cardholders designated by you; iv) your purchase of the Card; v) your usage of the Card; vi) the amount of available funds in the Card Accounts; vii) advertisements, promotions or oral or written statements related to the Cards, as well as goods or services purchased with the Card; viii) the benefits and services related to the Cards; or ix) transaction 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. If Section 23 and Section 14 (Disputes with PayPal) of the PayPal User Agreement are in conflict in any way, this Section 23 will control with respect to any Claim. Specifically, you agree that this Section 23 applies to all Claims described above instead of and in replacement to Section 14.2 (Arbitration), Section 14.3 (Law and Forum for Disputes) and Section 14.4 (Improperly Filed Litigation) of the PayPal User Agreement. 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).
We will pay the initial filing fee to commence arbitration and any arbitration hearing that you attend shall take place in the federal judicial district of your residence.
ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE.
For a copy of the procedures, to file a Claim or for other information about these organizations, contact them as follows: AAA, at 335 Madison Avenue, New York, NY 10017 or at www.adr.org.
All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made final exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction.
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 OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.
This arbitration provision shall survive: i) the termination of the Agreement; ii) the bankruptcy of any party; iii) any transfer, sale or assignment of your Card, or any amounts owed on your Card, to any other person or entity; or iv) expiration of the Card. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.
IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION AGREEMENT, DO NOT ACTIVATE OR USE THE CARD, OR IF IT HAS ALREADY BEEN ACTIVATED, CANCEL IT. YOU MAY CANCEL YOUR CARD BY CALLING CUSTOMER SERVICE AT 866-888-6080.
Rev. 12/2015
The Bancorp Privacy Notice | |
FACTS: |
What Does The Bancorp Do With Your Personal Information? |
Why? |
Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all, sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. Please read this notice carefully to understand what we do. |
What? |
The types of personal information we collect and share depend on the product or service you have with us. This information can include:
When you are no longer our customer, we continue to share your information, as described in this notice. |
How? |
All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information, whether The Bancorp shares your information, and whether you can limit this sharing. |
To limit our sharing |
Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
Questions? |
Call 866-888-6080 |
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Mail-in Form | |||
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Mark any/all you want to limit: Do not share my personal information with nonaffiliates to market their products and services to me.
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Name |
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Mail to: PayPal Debit Card Program PO Box 45950 Omaha, NE 68145-0950 | |
Address
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City, State, ZIP |
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Card Number |
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Reasons We Can Share Your Personal Information |
Does The Bancorp share? |
Can you limit this sharing? |
For our everyday business purposes – Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus |
Yes |
No |
For our marketing purposes – To offer our products and services to you |
Yes |
No |
For joint marketing with other financial companies |
No |
We don’t share |
For our affiliates’ everyday business purposes – Information about your transactions and experiences |
No |
We don’t share |
For our affiliates’ everyday business purposes – Information about your creditworthiness |
No |
We don’t share |
For nonaffiliates to market to you |
Yes |
Yes |
Questions? |
Call toll-free, at (866) 888-6080 or (402) 935-2017 (if calling from outside the U.S. or Canada), or visit www.paypal.com |
What We Do | |
How does The Bancorp protect my personal information? |
To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. |
How does The Bancorp collect my personal information? |
We collect your personal information when, for example, you:
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
Why can’t I limit all sharing? |
Federal law gives you the right to limit only:
State laws and individual companies may give you additional rights to limit sharing. |
Definitions | |
Affiliates |
Companies related by common ownership or control. They can be financial and nonfinancial companies.
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Nonaffiliates |
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
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Joint Marketing |
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
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Other Important Information |
State Laws: California Residents -- In accordance with California law, we will not share information we collect about you with companies outside of The Bancorp, unless the law allows. For example, we may share information with your consent, to service your accounts, or to provide rewards or benefits to which you are entitled. We will not share information we collect about you with our joint marketing partners without your authorization. We will limit sharing around our companies to the extent required by California law. Vermont Residents -- In accordance with Vermont law, we will not share personal financial information about you, other than transaction experience information, with other Bancorp companies or affiliates, nor will we share any personal financial information about you with other Bancorp companies for marketing purposes. Nevada Residents -- We are providing you this notice pursuant to state law. You may be placed on our internal Do Not Call List by following the directions in the “To limit our sharing” section. Nevada law requires that we also provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number- 702.486.3132; email: BCPINFO@ag.state.nv.us. |