PEX Reimbursement Program Terms

These PEX Reimbursement Program Terms set forth the requirements for you to use the PEX Reimbursement Program, including enrolling Authorized Users, managing and approving reimbursement requests, and making reimbursement payments. We may update these PEX Reimbursement Program Terms at any time by delivering notice, and your continued use of the Services will constitute acceptance of the updated terms.  For clarity, the PEX Reimbursement Program is an optional add-on Service available to Customers using the PEX Prepaid Expense Program and/or the PEX Credit Expense Card Program, and all of the terms of each of those programs will continue in full force and effect and control as to those programs.

 These PEX Reimbursement Program Terms include an authorization for PEX to automatically debit your Linked External Accounts for amounts owed for use of the Services, including reimbursement amounts, fees, fines, and other amounts; it may not be used for any purpose that is unlawful or prohibited by this Agreement, including without limitation any Prohibited Activities or other purposes not related to the business of Customer.

 Capitalized terms in this PEX Reimbursement Program Terms are defined in the Master Services Agreement - General Terms.

 

General Description

 The PEX Reimbursement Program will enable Authorized Users to enroll in the PEX Reimbursement Program, and once enrolled, to submit reimbursement requests.  The Authorized User’s manager and an Administrator User will be required to review and approve each reimbursement request, and upon approval, the Authorized User will receive an ACH reimbursement payment to a bank account specified by the Authorized User (the “Registered Account”), as updated by the Authorized User from time to time.  The Reimbursement Program will not be used by Customer to pay employment or labor wages, consultant or advisory fees, or commissions to any person, including without limitation companies and natural persons.

 Customer acknowledges that Authorized Users must be individuals whose identity has been validated by Customer through the use of commercially acceptable screening methods, such as employment screening and background checks and from whom Customer retains acceptable documentation on file validating the identity of those individuals.  Acceptable documentation includes a copy of a Social Security card, state issued driver’s license, and/or birth certificate.

 

PEX Reimbursement Program – Special Terms

 

1. Reimbursement Requests and Payments

 After enrolling, the Authorized User may create and submit expense reports and any applicable receipts or supporting documentation.  The Authorized User can monitor the status of each submitted reimbursement request through the Dashboard.

 An Administrator User approves/rejects the reimbursement request (each, an “Approved Reimbursement”), and schedules the Approved Reimbursement for payment.  PEX will facilitate a debit from the Linked External Account for the Approved Reimbursement(s), and an ACH credit to the relevant Registered Account(s).  Once we have confirmed receipt of the required funds from Customer, we will initiate ACH credit for Approved Reimbursements.  If an Authorized User has more than one Approved Reimbursement scheduled for payment, PEX may aggregate such amounts into a single ACH payment.

 

2. Liability for Transactions

 Customer assumes full liability for the amount of all Approved Reimbursements, together with all applicable fees, costs, and expenses.  Any Approved Reimbursement may be canceled by an Administrator User through the Dashboard until the scheduled payment date.

 Customer assumes full responsibility for monitoring use of the PEX Reimbursement Program and detecting any unauthorized or improper use, including but not limited to maintaining the accuracy of its records.  If Customer believes that there has been an error in any ACH payment transfer or an unauthorized transaction has been made, it will alert us immediately by calling PEX Client Services at 1-866-685-1898, and Customer agrees to cooperate with us in any subsequent investigation.

 

3. Payment Terms

 You may run reports of Reimbursement Program transactions, including: (a) transactions for draws from the Linked External Account and ACH payments to each Authorized User since the last Periodic Statement; (b) fees charged to the PEX Account; (c) adjustments; and (d) any other amounts debited or credited to your Linked External Account.  You are responsible for reconciling Reimbursement Program transactions in the Periodic Statement against your records and receipts. If you believe there are any discrepancies or errors, you must report any such discrepancies or errors to us within sixty (60) days.

 It is the responsibility of Customer to ensure that enough funds are available in the Linked External Account for all Approved Reimbursements.  If we determine there are insufficient funds for the Approved Reimbursements, we will not fulfill the affected Approved Reimbursements.  In such case, the Administrator User will receive a notification from PEX and will be required to fund the Linked External Account and then resubmit the affected Approved Reimbursements for payment. 

 

3.1.Fees

 Customer will pay PEX the fees in the amounts, on the timing, and in the manner as provided in the pricing schedule located at Additional Pricing Details, as may be updated by PEX from time to time, and as may be modified or supplemented by mutual written agreement by PEX and Customer (collectively, the “Applicable Fees”).  The Applicable Fees are earned in full at the time Services are provided and are not subject to refunds or credits. 

 

4. Removing an Authorized User

 Customer will notify PEX promptly after an Authorized User has been removed from the PEX Reimbursement Program by Customer.  Customer acknowledges and agrees that it will remain fully responsible and liable for all Approved Reimbursement transactions that have been made prior to such time.  For clarity, we reserve all rights that have accrued prior to closure, for PEX, the Bank, and any other applicable third party, under applicable law, regulation, or third party requirement in connection with the PEX Reimbursement Program.

 

5. Receipt Capture

 If you opt in to use our optional receipt capture feature, Administrator User(s) or Authorized User(s) can upload receipt image files for submission with a reimbursement request.  The PEX Reimbursement Program uses AI to populate certain fields in the expense report (e.g., vendor, date, amount, and similar).  If Customer chooses to use the feature, PEX is not responsible for the content, completeness, or accuracy of receipts displayed or information that is populated in the expense report, and all such information should be verified by both the Authorized User and Administrator User.  Receipts can be viewed by the Authorized User and all Administrator Users.

Customer and its Administrator Users agree that PEX may collect information contained in or regarding their uploaded receipts, and that PEX’s use of this information will be governed by the terms and conditions set forth in the PEX Privacy Policy.