TERMS AND CONDITIONS
Effective March 2005
I. Legal Effect of Agreement
This Agreement contains the terms that apply to your Wachovia Dinero Directo Prepaid Card (“Card”). Read this Agreement carefully before you use your Card or authorize another person to use the Card and keep it for future reference.
In this Agreement, “Card” means all Wachovia Dinero Directo Prepaid Card(s) issued by Wachovia Bank, N.A. to you. The words “you,” “your” and “Sender” used in this Agreement mean the person that has requested and funded the Card and “Recipient” and the “Cardholder” mean the person that you have authorized to use the Card. The words “we”, “us”, “Wachovia” and “our” mean Wachovia Bank, N.A. By requesting, funding, using or accepting a Wachovia Dinero Directo Prepaid Card or by allowing another to use the Card, you agree to be bound by the terms and conditions contained in this Agreement which will govern the use of the Card.
Important Information. To help fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens or maintains an account or product.
II. Card Description
The Card is a prepaid card because the Card balance is paid in advance of use. The Card is reloadable because you can add more funds, as the Card balance is depleted, in accordance with this Agreement. You or the Recipient may use the Card to make cash withdrawals at any Automated Teller Machine (ATM) that displays the Visa® /PLUS® logo. When you do so, the amount of the transaction and the applicable fees, as described in Section XI, are subtracted from the Card balance.
The Card is not directly linked to any of your personal checking, savings, Check Card or credit card accounts.
The Card is not a credit card. No interest will be paid on the Card balance and such balances are not deposits and are not FDIC insured.
III. Initial Funding of the Card and Funding Account Set Up
To set up a Card, you must have a Wachovia checking or savings account (“Account”) and transfer funds from the Account to the Card for the initial funding. For future funding of the Card through the Wachovia Dinero Directo automated telephone service and to use all other functions that are available via the Wachovia Dinero Directo automated telephone service, you must designate one or two funding account(s) (“Funding Account”) from which funds will be transferred to the Card. The Funding Account must be either a Check Card or a credit card that has the Visa® or MasterCard® logo. For future funding made at a you must use a Wachovia checking or savings account to transfer funds to the Card. Funding is subject to the limitations contained herein and associated fees. You may have a maximum of two Cards at any one time.
Effective 5/1/2005, A CAP account (“Account”) can also be used for the initial or future funding of a Dinero Directo Card and Wachovia checking, savings or CAP accounts can also be designated as Funding Accounts from which funds can be transferred to the Card.
IV. Issuance of the Card
A Dinero Directo Card Package will be mailed to you for receipt within 10 business days of Card opening. The Dinero Directo Card Package will contain (1) the Card; (2) these Terms & Conditions; and (3) mailing and Card activation instructions. It will be your responsibility to (1) forward the Card to the Recipient; (2) confirm Recipient’s receipt of the Card; (3) activate and obtain the Card Personal Identification Number (PIN) and (4) confidentially communicate the PIN to the Card Recipient.
V. Subsequent Funding of the Card - Limitations
We will assign you a unique funding identification number (“Funding ID”) to allow you to transfer funds to your Card. The Funding ID is for your use only. You agree not to reveal your Funding ID to the Cardholder or make it available to anyone and to assume liability for any transfers initiated with your Funding ID.
Subject to the limitations below, you may transfer funds to the Card at any time by calling the Wachovia Dinero Directo automated service number 877-473-1854 and selecting one of your designated Funding Accounts. The Funding Account you select at the time of the transfer will be debited in the amount requested, including any associated fees.
- The minimum amount that can be transferred to a Card is US $20.00.
- The maximum amount that can be transferred to a Card at any one time is (1) US $1,000.00; or (2) an amount that would not make the Card balance exceed US $1,000.00, whichever is less. Any funding request that would cause the Card balance to exceed US $1,000.00 will be denied.
- In addition, the cumulative maximum amount that can be transferred to the Card each calendar month (starting the month the Card is initially funded) is US $1,000.00. Any funding request that exceeds this limitation will be denied.
We reserve the right to debit associated fees, as described in Section XI, from any of your designated Funding Accounts or Wachovia accounts. Funding may only be made to the Card through the Wachovia Dinero Directo automated telephone service using a Funding Account or at a Wachovia Financial Center using a Wachovia checking or savings account.
VI. Recipient Information
You agree to provide the following Recipient information when you request the Card: Name, address, telephone number, date of birth, and any other information that we request. You must notify us as soon as possible of any changes to the information requested.
VII. Use of the Card
You or the Recipient may use the Card to make cash withdrawals at Automated Teller Machines (ATM) that display the Visa/Plus logo. The owner of the ATM has the right to set minimum and maximum withdrawal amounts. As a result, the Recipient may have to complete multiple ATM withdrawals to access the entire Card balance. Assuming no ATM limitations, the maximum amount that can be withdrawn from the Card at any one time is US $1,000.00. In addition, no more than a total of US $1,000.00 can be withdrawn from the Card each calendar month (starting the month the Card is initially funded). You and the Recipient agree not to use the Card in connection with any illegal activity. Neither you nor the Recipient may transfer the balance available on the Card to another bank or Check Card or credit card product.
The Card and the PIN are provided for your (and/or the Recipient’s) use and protection, and you agree, and agree to instruct the Recipient, to the following:
- Not to disclose the PIN nor record it on the Card or otherwise make it available to anyone else.
- To use the Card, the PIN and any ATM as instructed;
- Not to use the Card in connection with any illegal activity;
- To provide prompt notification to us of any loss or theft of your Card or PIN (see Section XV below); and
- To be liable for any transactions made by a person you or the Recipient authorize or permit to use your Card and/or PIN. (If you or the Recipient permits someone to use your Card, we will treat this as if you have authorized this person to use your Card and you will be liable for any transactions initiated by such person.)
VIII. Card Balance Availability
Approved transfers to the Card will become available for use by you or the Recipient on the same day.
IX. Negative Balance
Each time you or the Recipient uses the Card, the amount of the transaction and the associated fee, if applicable, will be debited from the Card balance. Neither you nor the Recipient is allowed to exceed the available Card balance by any single or series of transactions. However, in the event the Card balance goes into a negative balance, you shall remain fully responsible for the negative balance. You agree to immediately forward payment to us for the negative balance. In addition, we reserve the right to correct such negative balance by debiting the amount of the negative balance from any other deposit account you maintain at Wachovia.
X. Foreign Currency Exchange Rates
When the Card is used for an international transaction in foreign currency, Visa/PLUS will convert the transaction amount in accordance with its currency conversion procedures set forth in its Operating Regulations in effect at the time the transaction is processed. Currently those regulations provide that the exchange rate is either (1) a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives, or (2) the government-mandated rate in effect for the applicable central processing date, plus an International Service Assessment (ISA) Fee as referenced in Section XI. The currency exchange rate in effect on the processing date may differ from the rate in effect on the transaction date or on the posting date.
XI. Fees
You agree that the following fees apply to the Card and may be charged to the Card or Funding Account (as specified below). You authorize us to initiate any such charges to the Card balance or Funding Account, as applicable.
Fees Assessed Against the Card Balance
Funding/Transfer Fee ....................................... US $10.00
(Waived for the first (initial) funding/transfer)
ATM Withdrawal Fee ......................................... US $1.00
The ATM Withdrawal Fee will be waived once per funding transaction to the Card. This fee is in addition to any fee that may be charged by the ATM owner. Normally, fees charged by the owner of the ATM are disclosed prior to confirming the transaction. These fees typically appear as part of the withdrawal amount on your Card statement.
International Service Assessment ......................... 3%
Effective May 1, 2005, the International Service Assessment (ISA) fee will be applied to each international transaction when foreign currency is converted. The ISA will appear as a separate transaction on your Card Statement.
ATM Balance Inquiry Fee ................................ US $.50
(Waived the first two inquiries per statement cycle)
Inactive Card, per month ................................. US $2.00
An Inactive Card fee is charged when no funding loads or transactions have been performed for a period of six (6) months. This fee is assessed until the Card balance is depleted, then the Card will be closed.
Card Replacement .......................................... US $5.00
Card Closure ..................................................... US $8.00
Fees Assessed Against the Funding Account
Customer Service Calls
Wachovia Dinero Directo Automated
Service .............................................................. US $1.00
(Waived once per funding transaction)
Service Representative ................................. US $4.00
(Waived once per funding transaction)
XII. Balance Inquiry/Online Card Transaction Activity/Monthly Statements
You may perform a Balance Inquiry by calling the Wachovia Dinero Directo automated telephone service number. Balance Inquiries may be made at the ATM by you or the Recipient when available. Card transaction activity is available to both you and the Recipient by visiting www.wachoviadinerodirecto.com.
A monthly statement of the transaction activity on the Card will be mailed to you at the address we have on file.
You may review your Card transactions through our Wachovia Dinero Directo automated service number 877-473-1854. You may also request information about one or more transactions or request an additional copy of your monthly statement. Fees may apply; refer to Section XI above.
XIII. Failure to Complete Transactions
We accept no liability to complete any transaction for which adequate funds have not been transferred by you in advance according to this Agreement.
If you and/or the Recipient are uncertain as to the exact balance available on the Card, please perform a Balance Inquiry prior to initiating an ATM withdrawal. Fees may apply; refer to Section XI above.
We will not be liable to you or the Recipient for an ATM’s failure to accept or honor the Card.
XIV. Disputes and Refunds
You and the Recipient agree that some disputes as to the receipt of the correct money from an ATM may need to be settled with the operator of the ATM. If you or the Recipient is entitled to a refund for any reason related to the use of the Card, you may initiate a dispute as defined in Section XVI and agree to accept credits to the Card.
XV. Loss, Theft or Unauthorized Use
You are responsible for all transactions made by you or the Recipient and anyone authorized by you or the Recipient to use the Card. A transaction is considered “unauthorized” if it is initiated by someone other than you or the Recipient without your or the Recipient’s actual or apparent authority.
You must tell us AT ONCE if you or the Recipient believes the Card or PIN has been lost or stolen or that unauthorized use has or may occur. Telephoning us is the best way of MINIMIZING YOUR POSSIBLE LOSSES. IF YOU OR THE RECIPIENT BELIEVE THAT YOUR CARD OR PIN HAS BEEN STOLEN, OR THAT SOMEONE HAS WITHDRAWN MONEY FROM YOUR CARD WITHOUT YOUR PERMISSION, CALL US TOLL-FREE 24 HOURS A DAY, 7 DAYS A WEEK AT TELEPHONE NUMBER 877-473-1854 OR WRITE US AT: CARDHOLDER SERVICES, ATTENTION: DINERO DIRECTO CARD SERVICES, P.O. BOX 550039, FT. LAUDERDALE, FL 33355.
Also, if the Card statement shows transactions that neither you nor the Recipient made, tell us at once. If you do not tell us within 60 days after the statement was made available to you, you may not get back the money you lost after the 60 days, if we can prove that we could have stopped someone from taking the money if you had told us in time.
If your Card has been reported lost or stolen, we may transfer the remaining balance to one of the Funding Accounts and cancel the Card. Or you may request a Card replacement and have the remaining balance transferred to the new Card.
XVI. Information About Your Right to Dispute Errors.
If you have questions or believe an error has occurred with respect to any Card transactions, immediately call 877-473-1854 or write us at Cardholder Services,If you have questions or believe an error has occurred with respect to any Card transactions, immediately call 877-473-1854 or write us at Cardholder Services, P.O. Box 550039, Ft. Lauderdale, FL 33355. We must hear from you no later than 60 days after the transaction in question has been made available to you on the monthly statement. The following information must be contained in that notice:
- Yours and the Recipient’s name and Social Security Number(s).
- Card number.
- Describe the error or the transaction you or the Recipient are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
- The dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
Generally, we will tell you the results of our investigation within ten (10) business days after we hear from you and we will correct any error promptly. If we need more time, however, we may take up to forty-five (45) calendar days to investigate your complaint or question. If we decide to do this, we may provide temporary credit to the Card within ten (10) business days for the amount you think is in error so that the Recipient will have use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive written confirmation of your oral notice within 10 business days, we may not provide temporary credit to the Card. If notice of an error involves an electronic funds transfer that was initiated other than in any state, territory or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico or any political subdivision of any of the above; the applicable time periods for action shall be ninety (90) calendar days in place of the forty five (45) calendar days.
If we decide there was no error, we will send you a written explanation within three (3) business days after we finish our investigation and will reverse any temporary credit previously given. You may ask for copies of documents that we used in our investigation.
XVII. Privacy of Customer Information
Wachovia is committed to protecting your privacy and safeguarding your financial information. A copy of Wachovia’s Privacy Statement is provided to customers when they establish a relationship with us and on an annual basis thereafter. This Statement explains in detail our privacy policies and practices and may be obtained online at wachovia.com or by visiting a Wachovia Financial Center.
XVIII. Contact Information and Business Days
Cardholder Services
P.O. Box 550039, Ft. Lauderdale, FL 33355
Telephone Customer Service
(877) 473-1854
Our website address is www.wachoviadinerodirecto.com
Our Business days are Monday through Friday. Weekends and Federal holidays are not included.
XIX. Amendment/Cancellation.
We may amend these terms and conditions at any time upon notice to you. Changes made for security purposes can be implemented without prior notice. You can review the current terms and
conditions on our website at www.wachoviadinerodirecto.com.
A balance of zero dollars does not automatically cancel the Card. Either you or we may cancel or suspend this Agreement or any features or services of the Card at any time. However, your obligation under this Agreement and any charges made under it prior to cancellation will remain your responsibility. Any Card, which we supply to you, is our property and must be returned to us immediately upon demand or upon notice of cancellation of your Card. You may cancel this Agreement by returning the Card to us, calling us at 877-473-1854, or writing to us at Cardholder Services, P.O. Box 550039, Ft. Lauderdale, FL 33355. The Card balance, if any, will be returned to you through a credit to one of your Funding Accounts. Fees may apply; refer to Section XI above.
XX. Governing Law
This Agreement and its performance shall be governed by the laws of the state of North Carolina and the United States of America. In addition, use of the Card is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions.
XXI. Other Terms
We do not give up our rights by delaying or failing to exercise them at anytime.
If any term of this agreement is found by a court to be illegal or not enforceable, all other terms will still be in effect.
You authorize us to obtain transactional information from other banks you may use as a Card funding source.
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