Accountholder Agreement
This Accountholder Agreement (the “Agreement”) is the contract outlining the terms regarding your use of Revolution MoneyExchange account that has been established for you by First Bank & Trust, Brookings, South Dakota. Please read this Agreement carefully and save it for future reference.
1. Definitions.
In this Agreement, “you”, “your”, and “Accountholder” mean the person or persons who are authorized to use the Account as provided in this Agreement. “We,” “us,” and “our” mean First Bank & Trust, the issuer of the Account. “Account” means a numbered account, and any corresponding card associated with the Account, that you may use to transfer money to and receive money from other Revolution MoneyExchange accountholders or may otherwise use in accordance with Section 7:Using Your Account and the records maintained by us to account for the value of the transactions associated with the Account. “Authorized User” means each person who uses the Account with your consent. “MoneyExchange Site” means the web site made available to Revolution MoneyExchange accountholders, currently located at www.revolutionmoneyexchange.com.
2. Your Representations and Agreements.
By loading, using, or authorizing the use of the Account (i) you represent and warrant that you are at least eighteen (18) years of age, nineteen (19) years of age if you are a resident of a state where the age of majority is nineteen (19) and that the information provided by you is true, correct and complete; (ii) you are a U.S. resident; (iii) you acknowledge receipt of this Agreement and our privacy policy statement; (iv) you accept the Account; and (v) you agree that you have read and understood this Agreement and that you will be bound by and will comply with all of its terms and conditions.
3. Authorized Users.
You agree that you will be liable for all transactions arising from use of the Account by an Authorized User, to the extent permitted by law.
4. Personal Identification Number.
When you signed up for the Account, you selected a Personal Identification Number (“PIN”) and a password. You must keep your PIN and password confidential and not disclose them to others. You should not write or keep your PIN or password with information regarding your Account. If you believe that anyone has gained unauthorized access to your PIN or password, you should advise us immediately, following the procedures in Section 23: Unauthorized Transfers. In addition, if you lose or cannot remember your PIN, you will need to change it online at the MoneyExchange Site. There is no fee to change or reset your PIN online.
5. Value on Account.
The value available to you on your Account is recorded in your Account and is limited to the funds that have been loaded on the Account. The value will decrease each time you use the Account to transfer funds to another account, make withdrawals, or make payments as described in Section 7: Using Your Account and each time a fee is charged to your Account in accordance with Section 11: Fees. You are not entitled to receive, and we do not pay, any interest on the funds in your Account. Accordingly, the interest rate on your Account is zero percent (0%) with an annual percentage yield of zero percent (0%). All Revolution MoneyExchange accounts are opened by us at our bank office in Brookings, South Dakota.
6. Loading Your Account.
You can add value to your Account online at the MoneyExchange Site by transferring funds by means of an Automated Clearing House (“ACH”) transaction from a U.S. bank account held by you at another financial institution to your Account. You may add funds to your Account at any time. When you provide us with your bank account information, we will verify your authority and access to the account you identify by using the Account Verification Services, which is offered in connection with Yodlee, Inc. By providing us with the information to use the Account Verification Services, you agree to and accept the terms and conditions of the Account Verification Services User Agreement.
Account Verification Services User Agreement
You also agree to any other identification requirements as may be required from time to time to add value to your Account.
You may add value to and use your Account subject to the limitations in Section 12: Transfer Types; Limitations.
7. Using Your Account.
You may use your Account to transfer funds to or receive a transfer of funds from another Revolution MoneyExchange accountholder. We reserve the right to limit or block transfers to or from particular persons.
You may also use your Account to transfer funds electronically by means of an ACH transaction between your external bank account and your Account. This will allow you to add funds to and remove funds from your Account.
You may also access your Account by using the MoneyExchange RevolutionCard (the “MoneyExchange Card”) that is issued to you in connection with your Account . The MoneyExchange Card is not a credit card and cannot be redeemed for cash. The MoneyExchange Card can be used to access the funds available in your Account, subject to the limitations stated herein, to make point of sale transactions and obtain cash back at Merchants that accept the MoneyExchange Card and to withdraw funds at participating Automated Teller Machines (“ATM’s”). Once your MoneyExchange Card is activated in accordance with the instructions provided with it, you can make point of sale transactions or withdraw funds from an ATM by using the same PIN that you selected for your Account as described in Section 4: Personal Identification Number.
You agree that we may send information to you via electronic mail (email) regarding the transfer of such funds to and from your Account. We are not obligated to provide such emails or messages to you. You are under no obligation to respond to such emails or messages sent to you.
You are responsible for all transactions initiated by use of your Account including through your MoneyExchange Card. If you permit someone else to use your Account , we will treat this as if you have authorized such use and you will be responsible for any transactions made and any fees incurred through such use.
If you initiate a transfer of funds using the MoneyExchange website to a person who is not a Revolution MoneyExchange accountholder, a hold will be placed on a sum of money in your Account equal to the face value of the initiated transfer. We will notify the person to whom you are trying to transfer funds about the process to become an accountholder and claim the funds. If the person becomes an accountholder within thirty (30) days after you initiate the transfer, the funds will be transferred to the person’s Revolution MoneyExchange account and made available to that accountholder. If the person does not become an accountholder within thirty (30) days, or if you notify us before the person becomes an accountholder, we will release the hold on the funds in your Account at that time.
The Account is non-transferable and may be used only by you or an Authorized User. Furthermore, you agree that you shall: (a) not use the Account to purchase illegal goods or services; (b) promptly notify us of any loss or theft of the Account or your MoneyExchange Card; and (c) use the Account and your MoneyExchange Card only as permitted under this Agreement. If the Account is used to conduct transactions that are not permitted by this Agreement, we may, at our option and without waiving any of our rights, recognize the transactions and debit or credit your Account accordingly, to the extent permitted by law, or we may close your Account and/or your MoneyExchange Card at our sole discretion.
For security reasons, we may limit the amount or number of transactions you can make on your Account and/or with your MoneyExchange Card. As a security measure for you and us, we may also decline authorizations for certain transactions when we believe your Account and/or your MoneyExchange Card may have been compromised or the transaction is not consistent with your purchasing patterns. We may also prohibit certain types of transactions where fraud or misuse is more common.
You should keep track of the amount of value you add to your Account. Each time you use your Account or access your Account by using your MoneyExchange Card, you authorize us to reduce the value available on your Account by the amount of the transaction and any applicable fees or charges. You are not allowed to exceed the available amount on your Account through an individual transaction or a series of transactions. Notwithstanding the foregoing, if a transaction exceeds the balance of the funds available on your Account, you shall remain fully liable to us for the amount of the transaction.
You should get a receipt at the time you obtain cash or make a transaction using your MoneyExchange Card. You agree to retain your receipts to verify your transactions.
Schedule of Free Services
| Card Activation |
Free |
| Card Deactivation |
Free |
| Cash Back at Point of Sale |
Free |
| Point of Sale Usage fee |
Free |
| Customer service (live agent or interactive voice response) |
Free |
| Decline withdrawal (ATM or Point of Sale) |
Free |
| Transfer funds Electronically from MoneyExchange account to bank account |
Free |
| Transfer funds from bank account to MoneyExchange account (Add Money) |
Free |
| Send money to another MoneyExchange account holder |
Free |
| Request Money from another MoneyExchange account holder |
Free |
| Receive Money from another MoneyExchange account holder |
Free |
| Monthly electronic statements |
Free |
| Account Transaction history |
Free |
8. Disputes Regarding Goods or Services.
We have no responsibility, and make no warranties of any kind, with respect to goods or services purchased or sold using your Account, including without limitation, the delivery, return, quality, safety, legality or fitness for use of any goods or services. All such disputes should be addressed to the other party or the other parties to the transaction.
9. Failure of Parties to Negotiate a Funds Transfer.
We provide a forum for Revolution MoneyExchange accountholders to negotiate fund transfers. We make no representation that any negotiation will result in an agreement between accountholders to transfer funds, and we will not be liable for damages in connection with any failure of accountholders to reach an agreement to transfer funds.
10. Overdrafts.
You do not have the right to make transactions in amounts that exceed the available balance on your Account.You must have sufficient value available on your Account to pay for each transaction. We will deny any transaction if the available funds on your Account are not sufficient to cover the transaction and all fees and charges related to the transaction. Nonetheless, if, for any reason, a transaction is processed for more than the value on your Account, you are liable for that entire amount and agree to pay any overdraft to us immediately on demand. We reserve the right to automatically debit such overdrafts from any available funds present now or in the future on your Account. Your Account is not a credit Account, your usage of your Account does not directly or indirectly trigger access to any line of credit, and your Account and your MoneyExchange Card do not have a credit feature.
11. Fees.
We will charge you the fees and charges set forth in the Schedule of Fees below. In addition, when you use an ATM to access funds in your Account, you may also be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not withdraw funds at the ATM). Furthermore, you may be charged fees by other third parties for use of your MoneyExchange Card, such as (a) stores and merchants for POS transactions and (b) other financial institutions for cash withdrawals at their branches. All fees and charges will be deducted automatically from the value in the Account at the time the fee or charge is incurred, unless there is no value remaining in the Account, in which case you must mail payment to us at P.O. Box 989, Saint Petersburg, FL 33731.
SCHEDULE OF FEES*
| Balance Inquiry ATM |
$1.50 |
| Cash Withdrawal ATM |
$1.50 |
| Lost or Stolen Card Replacement |
$5.00 |
| Returned ACH Fee |
$35.00 per returned ACH |
| Stop Payment on a Check |
$20.00 per check |
| Paper Statement |
$5.00 per statement |
* Schedule shows fees imposed by First Bank & Trust. Fees may be imposed by others in connection with your Account.
12. Transaction Limitations.
Current transaction limitations are listed below. The maximum value you may add to your Account is one thousand dollars ($1,000.00) per day and two thousand five hundred dollars ($2,500) per calendar month. The maximum Account balance you may have at any time is two thousand five hundred dollars ($2,500). You may add funds to your Account a maximum of thirty (30) times per calendar month. You may call us at 1-800-974-9071 or go online at the MoneyExchange Site for more information regarding reloading the Account. You may use your MoneyExchange Card to withdraw funds at an ATM a maximum of three (3) times per day, and the maximum amount that can be withdrawn from an ATM with your MoneyExchange Card is five hundred dollars ($500) per day. The maximum amount that will be authorized on your MoneyExchange Card is one thousand dollars ($1,000) per day and two thousand five hundred dollars ($2,500) per calendar month, and you may conduct a maximum of fifteen (15) transactions with your MoneyExchange Card per day; these transactions can be all purchases or a combination of purchases and cash withdrawals (through cash back at the time of purchase or through ATM withdrawals), but ATM withdrawals remain subject to the ATM limitations set forth in this section. For security reasons, there may be additional limits on the number and amount of transfers you can make. We will not be liable for failing to enforce any of these limits. We reserve the right to change these limitations at any time.
| MoneyExchange Account and MoneyExchange Card Restrictions |
Limit |
| Maximum value Account load per day |
$1000 |
| Maximum value Account load per calendar month |
$2500 |
| Maximum Account balance at any time |
$2500 |
| Maximum Account loads per calendar month |
30 |
| Maximum Account withdrawals per calendar month via ACH |
30 |
| Maximum ATM withdrawals per day |
3 |
| Maximum authorizations per day* |
15 |
| Maximum ATM withdrawal amount per day |
$500 |
| Maximum authorization amount per day* |
$1000 |
| Maximum authorization amount per calendar month* |
$2500 |
* This can be all purchases or a combination of purchases and cash withdrawals (through cash back at the time of purchase or through ATM withdrawals), but ATM withdrawals remain subject to stated ATM limitations.
13. Cancellation; Suspension of Use.
We, in our sole and absolute discretion, may limit your use of your Account and/or your MoneyExchange Card. We may revoke your Account and/or MoneyExchange Card privileges or suspend the use of the Account and/or your MoneyExchange Card with or without cause or notice, other than any notice required by applicable law. If you would like to cancel your Account and/or your MoneyExchange Card, call us at 1-800-794-9071. You may also cancel your Account and/or your MoneyExchange Card online at the MoneyExchange Site. If we decide to cancel or suspend use of the Account and/or your Card, we will attempt to notify you by U.S. mail or electronic mail. Upon cancellation of the Account and/or MoneyExchange Card privileges, use of the Account and/or your MoneyExchange Card must be immediately discontinued. You agree not to use or attempt to use a cancelled or otherwise invalid Account and/or MoneyExchange Card. Our cancellation of Account and/or your MoneyExchange Card privileges will not affect your rights and obligations pursuant to this Agreement.
14. Settlement Upon Cancellation.
If there is a balance remaining in your Account upon the cancellation of your Account, the balance will be returned to you less all amounts owed in connection therewith (including all fees and charges described in this Agreement, and the amount of any overdraft). If you cancel your Account, during the closure process you can elect to either ACH the remaining balance to your U.S. bank account on file or have a check made payable to you and mailed to your most recent postal address on file. Should your Account be closed involuntarily, a check made payable to you will be mailed to your most recent postal address as indicated in our books and records.
15. Credit Inquiries.
You agree that we may make any credit, employment and investigative inquiries as we deem appropriate in connection with the activation, issuance, loading, reloading or review of the Account or your MoneyExchange Card, whether for fraud, misuse or otherwise. These inquiries may include inquiries to credit reporting agencies and bad check databases.
16. Periodic Statements.
Periodic statements will be made available to you electronically on a monthly basis at no charge unless there are no transactions or Account activity in a particular month. In any case you will get an electronic periodic statement at least quarterly. You can also view transactions at anytime online at no charge on the MoneyExchange Site under “Transaction History” which is under “My Account.” If you would like to receive a paper copy of your electronic statement, you may write to us at Revolution MoneyExchange, P.O. Box 989, Saint Petersburg, FL 33731. You can also call us at 1-800-794-9071. You will be charged a five dollar ($5) fee for each paper statement copy.
17. Taxes.
It is your responsibility to determine what, if any, taxes apply to the payments you make or receive and what to collect, report, or remit to the appropriate tax authority.
18. Preauthorized Credits.
Preauthorized credits are not currently offered. Should this be offered in the future and if you arrange to have direct deposits made to your Account at least once every sixty (60) days from the same person or company, the person or company making the deposit will let you know if the deposit is not made. The person or company making the deposit is also required by law to tell you every time they send us the money.
19. Preauthorized Transfers.
Preauthorized transfers are not currently offered. Should they be offered in the future, the following will apply:
Stop Payment Rights. If you have told us in advance to make regular payments out of your Account, you can stop any of these payments by calling or writing to us at 800-794-9071 or the MoneyExchange Site in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within fourteen (14) days after you call.
Notice of Varying Amounts. If these regular payments may vary in amount, the person you are going to pay will tell you ten (10) days before each payment, when it will be made and how much it will be. You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.
Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one of these payments three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.
20. Liability for Failure to Make Transfers.
If we do not complete a transaction to or from your Account on time or in the correct amount according to our Agreement with you, we may be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: (a) if through no fault of ours, you do not have enough funds available in your Account to complete the transaction; (b) if our computer systems or other electronic terminal where you are making a transaction does not operate properly and you knew about the breakdown when you started the transaction; (c) if an ATM where you are making a cash withdrawal does not have enough cash; (d) if an ATM or a merchant refuses to honor a transaction using the Account; (e) if access to your Account has been blocked after you reported your MoneyExchange Card lost or stolen; (f) if there is a hold or the funds in the Account are subject to legal process or other encumbrance restricting their use; (g) if we have reason to believe the requested transaction or withdrawal is unauthorized; (h) if circumstances beyond our control (such as fire, flood, terrorist attack, or national emergency) prevent the transaction, despite reasonable precautions that we have taken; (i) if the transaction would violate the terms of this Agreement; or (j) there are other exceptions stated in our Agreement with you.
21. In Case of Errors or Questions About Account Transactions.
If you think your periodic statement or receipt is wrong or if you need more information about a transaction listed on the periodic statement, please contact us as soon as you can by calling 1-800-794-9071 or contacting us online at the MoneyExchange Site. You can also write to us at P.O. Box 989, Saint Petersburg, FL 33731. We must hear from you no later than sixty (60) days after we made available the first statement (online at the MoneyExchange Site) on which the problem or error appeared. When notifying us, you must: (a) tell us your name, address, and Account number; (b) describe the error or the transaction you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and (c) tell us 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 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 Account within ten (10) business days for the amount you think is in error so that you will have the use of the value during the time it takes us to complete the investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your Account. We will tell you the results within three (3) business days after completing our investigation and we will correct any error promptly. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation
22. Confidentiality and Disclosure of Information.
We will disclose information to third parties about your Account or the transfers you make: (i) where it is necessary for completing transfers; (ii) in order to verify the existence and condition of your Account for a third party, such as a credit bureau or merchant; (iii) in order to comply with government agency or court orders; (iv) if you give us your written permission; or (v) in accordance with our privacy policy statement, which has been provided to you.
23. Unauthorized Transfers.
Tell us AT ONCE if you believe someone has transferred or may transfer value from the Account without your permission or if you believe your MoneyExchange Card has been lost or stolen. Telephoning us at 800-794-9071 is the best way of keeping your possible losses down, but you may also contact us at PO BOX 989, St. Petersburg, FL 33731 or online at the MoneyExchange Site. You may be liable for unauthorized use of your Account. You will not be liable for unauthorized use that occurs after you notify us, orally or in writing, of the loss, theft, or possible unauthorized use. If you tell us within 2 business days after you learn of the unauthorized use, you can lose no more than fifty dollars ($50) if someone used your Account without your permission. If you do NOT tell us within 2 business days after you learn of the unauthorized use, and we can prove we could have stopped someone from using your Account without your permission if you had told us, you could lose as much as five hundred dollars ($500).
Also. If your statement shows transfers you did not make, tell us at once. If you do not tell us within 60 days after the statement is made available to you, you may not get back any 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 on time. If a good reason (such as long trip or a hospital stay) kept you from telling us, we will extend the time period.
24. Contact Information.
If you have questions regarding the Account, you may call us at 800-794-9071 or contact us online at the MoneyExchange Site.
25. U.S. Dollars.
All transactions must be made in U.S. Dollars.
26. Business Days.
For purposes of this Agreement, our business days are Monday through Friday. Holidays are not considered business days.
27. Change of Address.
If your U.S. mail or postal address changes, or if your electronic mail (email) address changes, you must notify us immediately. Failure to do so may result in information regarding the Account being mailed or emailed to the wrong person. In such event, we shall not be responsible for any unauthorized charges on the Account. Any notice given by us shall be deemed given to you if mailed to you at the last U.S. mail address or emailed to you at the last email address for the Account furnished by you to us. You agree we may accept changes of address from the U.S. Postal Service.
28. Change of Terms.
Subject to the limitations of applicable law, we may at any time change, remove, or add to any of the terms and conditions of this Agreement, including a change, removal, or addition with respect to the fees specified in Section 11. We will send notice of any such change to you by U.S. mail to your current address listed on our books and records. As of the effective date included in any notice, the changed or new terms will apply to the Account, including, without limitation, all future transactions made using the Account. Notwithstanding the foregoing, advance notice of any change may not be given if it is necessary to make any such change immediately in order to maintain or restore the security of the Account or any related payment system. If any such change becomes permanent and disclosure to you of the change would not jeopardize the security of the Account or any related payment system, notice will be provided to you within thirty (30) days of making the change.
29. Unclaimed Property.
If we have no record of transactions on the Account for several years, applicable law may require us to report the balance on the Account as unclaimed property. If this occurs, we will try to locate you at the address listed on our books and records. If we are unable to locate you, we may be required to deliver any value remaining on the Account to the State of South Dakota as unclaimed property.
30. Attorneys’ Fees and Costs.
Except as may be provided in the “Arbitration” section of this Agreement, you agree to pay all costs incurred by us, our successors or assigns, in collecting unpaid indebtedness or in enforcing this Agreement, including attorneys’ fees and costs, as well as those costs, expenses and attorneys’ fees incurred in appellate, bankruptcy and post-judgment proceedings, except to the extent such costs, fees, or expenses are prohibited by law.
31. Governing Law.
This Agreement and your Account, and any claim, dispute or controversy arising from or relating to this Agreement or your Account, are governed by and construed in accordance with the laws of the State of South Dakota (without regard to its conflicts of law rules) and applicable federal law. The legality, enforceability, and interpretation of this Agreement and the amounts contracted for, charged, and received under this Agreement will be governed by such laws. This Agreement is entered into between you and us in South Dakota.
32. Arbitration.
PLEASE READ THIS PROVISION OF THE AGREEMENT CAREFULLY. UNLESS YOU EXERCISE THE RIGHT TO OPT-OUT OF ARBITRATION IN THE MANNER DESCRIBED BELOW, YOU AGREE THAT ANY DISPUTE WILL BE RESOLVED BY BINDING ARBITRATION. ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT TO HAVE A JURY, TO ENGAGE IN DISCOVERY (EXCEPT AS MAY BE PROVIDED IN THE ARBITRATION RULES), AND TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING. IN ARBITRATION, A DISPUTE IS RESOLVED BY AN ARBITRATOR INSTEAD OF A JUDGE OR JURY. ARBITRATION PROCEDURES ARE SIMPLER AND MORE LIMITED THAN COURT PROCEDURES. YOU ALSO AGREE ANY ARBITRATION WILL BE LIMITED TO THE DISPUTE BETWEEN YOU AND US AND WILL NOT BE PART OF A CLASS-WIDE OR CONSOLIDATED ARBITRATION PROCEEDING.
Agreement to Arbitrate. You and we agree that any Dispute, except as provided below, will be resolved by Arbitration. This agreement is governed by the Federal Arbitration Act (FAA), 9 U.S.C.S. § 1 et seq. and the substantive law of the State of South Dakota (without applying its choice-of-law rules).
Arbitration Defined. Arbitration is a means of having an independent third party resolve a Dispute. A “Dispute” is any controversy or claim between you and us. The term Dispute is to be given its broadest possible meaning and includes, without limitation, all claims or demands (whether past, present or future, including events that occurred prior to the opening of this Account), based on any legal or equitable theory (tort, contract or otherwise), and regardless of the type of relief sought (i.e. money, injunctive relief, or declaratory relief). A Dispute includes, by way of example and without limitation, any claim based upon marketing or solicitations to open the Account and the handling of your Account, whether such Dispute is based on a federal or state constitution, statute, ordinance, regulation, or common law, and including any issue concerning the validity, enforceability or scope of this arbitration agreement.
For purposes of this arbitration agreement, the terms “you” and “your” include any Authorized User and also your heirs, guardian, personal representative, or trustee in bankruptcy. The terms “us,” “our,” and “we” include our employees, officers, directors, attorneys, affiliated companies, predecessors, and assigns, as well as our marketing, servicing, and collection representatives and agents including, without limitation, Revolution Money, Inc.
Choice of Arbitrator. The party filing an arbitration must initiate arbitration. If you claim you have a Dispute with us, but you do not initiate an arbitration, we may do so. The policies and procedures of the selected arbitration firm will apply provided that these are consistent with this arbitration agreement. To the extent the arbitration firm’s rules or procedures are different than the terms of this arbitration agreement, the terms of this agreement will apply.
Cost of Arbitration. We will pay the filing fee and any costs or fees charged by the arbitrator regardless of whether you or we initiate the arbitration. Except where otherwise provided by applicable law, each party will be responsible for its own attorneys’ fees and other expenses. Unless prohibited by law, the arbitrator may award fees, costs, and reasonable attorneys’ fees to the party who substantially prevails in the arbitration.
Place of Arbitration. Unless you and we agree to a different location, the arbitration will be held in the same city as the U.S. District Court closest to your then current mailing address.
Waiver of Rights. You are waiving your right to a jury trial, to have a court decide your Dispute, to participate in a class action lawsuit, and to certain discovery and other procedures that are available in a lawsuit. The arbitrator has the ability to award all remedies available by statute, at law, or in equity to the prevailing party, except that you and we agree that the arbitrator has no authority to conduct class-wide proceedings and will be restricted to resolving the individual disputes between you and us. The validity, effect, and enforceability of this waiver of class action lawsuit and class-wide arbitration is to be determined solely by a court of competent jurisdiction and not by the arbitration firm or arbitrator. If the court refuses to enforce the class-wide arbitration waiver, or if an arbitration firm or arbitrator fails or refuses to enforce the waiver of class-wide arbitration, you and we agree that the Dispute will proceed in court and will be decided by a judge, sitting without a jury, under applicable court rules and procedures.
Applicable Law and Judicial Review. The arbitrator will apply applicable federal and South Dakota substantive law and the terms of this Agreement. The arbitrator must apply the terms of this arbitration agreement, including without limitation the waiver of class-wide arbitration. The arbitrator will make written findings and the arbitrator’s award may be filed with any court having jurisdiction. The arbitration award will be supported by substantial evidence and must be consistent with this Agreement and applicable law or may be set aside by a court upon judicial review. Either party may seek judicial review of the arbitrator’s decision according to applicable law.
Other Provisions. This arbitration provision will survive: (i) termination or changes in this Agreement, the Account, or the relationship between you and us concerning the Account; (ii) the bankruptcy of any party; and (iii) any transfer, sale or assignment of your Account, or any amounts owed on your Account, to any other person or entity.
Right to Opt Out. If you do not wish your Account to be subject to this Arbitration Agreement, you must advise us in writing by contacting us at P.O. Box 989, Saint Petersburg, FL 33731. Clearly print or type your name and Account number and state that you reject arbitration. You must give written notice, and it is not sufficient to telephone us. Send only your notice to reject arbitration; do not include the notice with other correspondence to us. We must receive your letter at the above address within sixty (60) days after the date this Agreement was provided to you or your rejection of arbitration will not be effective.
33. Waiver.
To the extent permitted by law, you waive and release us from all defenses, rights, and claims you have or may have against us arising from or relating to the Account or any use thereof.
34. 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.
35. Delay of Rights.
We can waive or delay enforcement of any of our rights under this Agreement without losing them.
36. Void Where Prohibited.
Not all services described in this Agreement are available to all persons or at all locations. We reserve the right to limit, in our sole discretion, the provision of any such services to any person or in any location. Any offer of a service in this Agreement shall be deemed void where prohibited.
37. Non-Assignability.
You may not assign or transfer this Agreement or any of your respective rights, obligations, duties, responsibilities, or liabilities under this Agreement, and any attempt to the contrary shall be null and void. This Agreement shall be binding on you and your respective executors, administrators, and permitted assigns.
38. Severability.
If any provision of this Agreement is determined to be invalid or unenforceable under any rule, law, or regulation, the validity or enforceability of any other provision of this Agreement shall not be affected, and in lieu of such invalid or unenforceable provision there shall be added automatically, as part of this Agreement, a provision as similar in terms as may be valid and enforceable, if possible.
39. Entire Agreement.
This Agreement sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or agreements with respect to such subject matter.
Account issued by First Bank & Trust, Brookings, SD, Member FDIC and part of the Fishback Financial Corporation.