PEX Legal
PEX Credit Expense Card Use Guide
IMPORTANT – PLEASE READ CAREFULLY
Your Guide To Using this Visa® Commercial Card
This Card Use Guide (“Guide”) contains instructions and other important information relating to your use of the Visa Commercial Card and the Visa Virtual Account provided to you by us at the request of Company (defined below). You should read this Guide carefully and keep a copy for your records.
This Visa Commercial Card or Visa Virtual Account has been issued by The Bancorp Bank, N.A., (the “Issuer”) in accordance with the “Services Agreement” executed between Prepaid Expense Card Solutions, Inc., d/b/a PEX, and the business entity desiring to fund a Visa Commercial Card or Visa Virtual Account to be used by you as its authorized user (the “Company”). “Card” or “Virtual Account” means the Visa Commercial Card or the Visa Virtual Account represented by an access device and provided to you for use as authorized by the Company and PEX. You will not receive a physical card device with the Virtual Account. “You” and “your” mean the designated person who the Company has authorized to receive and use the Card or Virtual Account. “We,” “us,” and “our” mean, collectively, the Issuer, PEX and the Company. “Business Administrator” means the person(s) at the Company authorized to manage the Card or Virtual Account. You acknowledge and agree that the value accessible by the Card or Virtual Account is the property of the Company. You agree that the Card or Virtual Account is provided to you for business use only as authorized by the Company and that you are wholly responsible for the use of it as an authorized representative of the Company. You agree to sign the back of the Card immediately upon receipt. The Card is not for resale. The Card is the property of the Bank 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 federal and state laws and regulations, this Guide, PEX policies or the terms of the Master Services Agreement between PEX and the Company.
Write down the Card number and the customer service phone number provided in this Guide on a separate piece of paper in case the Card is lost, stolen, or destroyed. Keep the paper in a safe place. The Business Administrator can also provide some services for the Card as the authorized representative of the Company, including without limitation reporting it lost, stolen or damaged. Please read this Guide carefully and keep it for future reference.
Customer Service
For customer service or additional information regarding the Card, please contact your Business Administrator. For immediate access to “Customer Service” for this Card, call 1-866-685-0898.
Customer Service agents are available to answer your calls twenty-four (24) hours a day, seven (7) days a week, including holidays. Our “business days” are Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this document are calendar days unless indicated otherwise.
Activate the Card or Virtual Account
The Business Administrator must activate the Card or Virtual Account before it can be used. Please contact the Business Administrator for activation.
Authorized Card Users
The Company is responsible to us for all authorized transactions initiated and fees incurred by use of the Card or Virtual Account. If you permit another person to have access to the Card, Card number or Virtual Account, we will treat this as if the Company has authorized such use, and the Company will be liable to us for all transactions and fees incurred by those persons.
Representations and Warranties
By retaining, using or authorizing use of the Card or Virtual Account, you represent and warrant to us that:
- You received a copy of this Guide and agree to be bound by and to comply with its terms;
- You are authorized by the Company to use the Card or Virtual Account and shall only use the Card or Virtual Account as authorized by the Company;
- You will use the Card solely for business purposes and not any consumer or household purpose; and
- You will comply with all U.S. and foreign financial regulations and will not use the Card in the furtherance of any criminal activity.
Personal Identification Number (“PIN”)
You will not receive a PIN with the Card.
Cash Access
You may not use the Card or Virtual Account to obtain cash from an Automated Teller Machine (“ATM”), Point-of-Sale (“POS”) device, or by any other means. You will not be provided a Personal Identification Number (“PIN”), which is required for cash access.
Using the Card/Features
The maximum value accessible by the Card or Virtual Account is determined by the Company. Your spend limit can be viewed in the PEX Dashboard and Mobile App, and can be increased or decreased by the Business Administrator at any time.
The Card or Virtual Account may be used as authorized by the Company to purchase or lease goods or services at authorized locations where Visa® credit cards are accepted. The Business Administrator determines the types of purchases you may make with the Card or Virtual Account. Please review the Company's merchant spend rules by logging on to the website at the web address printed on the back of the Card or by contacting the Business Administrator. Any transaction for an amount exceeding the value available with the Card should not be attempted and will not be completed.
Some merchants do not allow cardholders to conduct split transactions where you would use the Card or Virtual Account as partial payment for goods and services and pay the remainder of the balance with another form of legal tender. If you wish to conduct a split transaction and it is permitted by the merchant, you must tell the merchant to charge an exact amount to the Card or Virtual Account. You must then arrange to pay the difference using another payment method. Some merchants may require payment for the remaining balance in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to using the Card, the transaction is likely to be declined if sufficient value is not available to cover the entire transaction amount.
If you use the Card at an automated fuel dispenser (“pay at the pump”), the merchant may preauthorize the transaction amount up to $175.00 or more. If you use the Card at a restaurant, a hotel, for a car rental, or for similar purchases, the merchant may preauthorize the transaction amount for the purchase amount plus up to 20% or more to ensure there are sufficient funds available to cover tips or incidental expenses incurred. Note that the preauthorized amount will reduce the value available until the preauthorization hold is released by the merchant on the timing and otherwise in accordance with the merchant’s policies and procedures.
If you use the Card number without presenting the Card (such as for internet, phone or mail order purchases), the legal effect will be the same as if you used the Card itself. For security reasons, we may limit the amount or number of transactions you can make with the Card or Virtual Account. The Card or Virtual Account cannot be redeemed for cash. You may not use the Card or Virtual Account for any transaction not authorized by the Company.
You do not have the right to stop payment on any purchase or payment transaction originated by use of the Card or Virtual Account. If you authorize a transaction and then fail to complete the purchase of that item as planned, the approval may result in a hold for that amount of funds.
Spend and Credit Limits
PEX will determine a “Company Credit Limit,” which is the maximum amount that can be spent prior to repayment across all authorized cardholders within the Company commercial card program. PEX may adjust this Company Credit Limit at any time. Your individual “Cardholder Spend Limit” is set by the Business Administrator, and reflects the maximum amount that you can spend on your Card during the statement period. The Business Administrator can increase or decrease your Cardholder Spend Limit at any time. PEX reserves the right to decrease the Cardholder Spend Limit at any point and will notify you of the adverse action taken on your account. The total debt outstanding at any time on the Company’s commercial card program Cards may not exceed the Company Credit Limit. While PEX and the Company may not disclose the Company Credit Limit to you, charges made by you or other authorized cardholders will reduce the Company Credit Limit until such amounts are repaid by the Company, and charges in excess of the Credit Limit will be declined.
Fee Schedule
All fee amounts will be withdrawn from your Cardholder Spend Limit and will be assessed as long as there is a remaining balance on your Cardholder Spend Limit, except where prohibited by law. Any time your remaining Cardholder Spend Limit balance is less than the purchase plus the fee amount being assessed, the balance of the Card will be applied to the fee amount resulting in a zero (or negative) balance on the Card.
| ISA (International Service Assessment) Fee | 3% of transaction
For making a purchase when a merchant’s acquiring financial institution is outside the fifty (50) U.S. states and the District of Columbia. |
Suspension or Closing your Account
We may decline to authorize or reverse charges, and may close or suspend Cards for any reason, including violation of this Guide, suspected fraud, or reevaluation of creditworthiness of the Company. We are not responsible for any losses, liabilities, or damages incurred or resulting from declined or reversed charges.
Card Replacement
If you need to replace the Card for any reason, please contact the Business Administrator or call Customer Service. You will be required to provide personal information which may include the Card number, full name, transaction history, copies of accepted identification, etc. that we will use to identify you as the cardholder and an authorized designated user of the Company. To replace a Virtual Account, you must contact the Business Administrator.
Expiration
The Card will expire no sooner than the “Valid Thru” date printed on the front of it. You will not be able to use the Card after the expiration date. The Company will determine if you will receive a replacement card at the time of expiration. Information about the expiration of a Virtual Account is provided by the Business Administrator. You will not receive a replacement Virtual Account at the time of expiration.
Receipts
You should get a receipt at the time you make a transaction using the Card or Virtual Account. You agree to retain, verify, and reconcile the transactions and receipts.
Confidentiality
We may disclose information to third parties about the Card, Virtual Account, or the transactions you make:
- Where it is necessary for completing transactions;
- In order to verify the existence and condition of the Card or Virtual Account for a third party, such as a merchant;
- In order to comply with government agency, court order, or other legal or administrative reporting requirements;
- In our investigation of suspected fraud or criminal activity;
- If we receive consent by giving us your and/or the Company's written permission;
- To our employees, auditors, affiliates, service providers, or attorneys as needed; or
- Otherwise as necessary to fulfill our obligations.
Unauthorized Purchases
An unauthorized purchase where you have not given access to your Card information to another person or merchant for a one-time or repeated charges. If you believe the Card or Virtual Account has been lost or stolen, or that someone has made purchases with the Card without permission, you must call the Business Administrator or Customer Service at once. If the Card has been lost or stolen, we will close the Card to attempt to keep losses down. Please use reasonable care to protect your Card and Card number.
Other Miscellaneous Terms
Use of the Card or Virtual Account 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 Guide 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 document shall not be affected. This document will be governed by the laws of the State of Delaware except to the extent governed by federal law.
Amendment and Cancellation
We may amend or change the Guide at any time. The Company will be notified of any change in the manner provided by the Master Services Agreement and/or applicable law. We may cancel or suspend the Card, Virtual Account, or provisions of the Guide at any time. By returning the Card to us or the Company, you are terminating your participation in the Company’s commercial card program; however, this termination will not affect any of our rights or the obligations of the Company arising under this Guide and/or the Master Services Agreement for any charges or other matters that occurred or arose prior to termination.
Telephone Monitoring/Recording
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.
Disclaimer of Warranties
Except as expressly otherwise provided in this guide, we make no representations or warranties of any kind to you, and hereby expressly disclaim all warranties, whether express or implied, relating to or arising out in connection with the card or this Guide, including, without limitation, any implied warranties of merchantability or fitness for a particular purpose.
Limitation of Liability
We shall have no liability to you if we are unable to complete a transaction for any reason beyond our control or in the event of an unauthorized transaction or error not caused by us. We are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with the Card. In no event shall we be liable to you for 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 prohibited by applicable law.