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MetaBank Simon Giftaccount® Agreement (Effective 4/01/07)
Giftaccount

Read this Giftaccount Agreement carefully and print it for future reference. The MetaBank Simon Giftaccount® is a prepaid Visa® virtual purse available from MetaBank. Signifying your consent to these terms and conditions, using the Giftaccount, or allowing someone else to use the Giftaccount means that you accept this Agreement and you are responsible for all transactions. In this Agreement, the terms "we", "us", and "our" mean MetaBank and "you" or "your" mean anyone who has opened the Giftaccount or is authorized to use it. Keep a record of your Giftaccount number. You agree not to use your Giftaccount for any illegal transaction. We may, but are not obligated to, decline authorization for any illegal transaction or Internet gambling transaction or if the transaction amount exceeds the balance available on your Giftaccount.


MetaBank Fees

There are no fees when using the Giftaccount to purchase goods and services from merchants located in the United States. The following MetaBank fees may apply and will be deducted from the balance of the Giftaccount, except where prohibited or modified by applicable law:

  • Purchase Fee: There is a $2.00 purchase fee per Giftaccount paid by the purchaser at the time the Giftaccount is opened.
  • Replacement fee: There is a $5.95 fee if a Giftaccount is closed and replaced for any reason (such as when a Giftaccount holder reports fraudulent or unauthorized use of the Giftaccount). At our option, a Giftaccount may be replaced with either a new Giftaccount or a Simon Giftcard®.
  • Conversion fee: There is a $5.95 fee if you ask us to convert your Simon Giftaccount to a Simon Visa Giftcard. See the section of this Agreement captioned "Conversion to Physical Simon Visa Giftcard."
  • Expired Giftaccount Fee: There is a $15.00 fee to open a new Giftaccount to replace an expired Giftaccount. See the section of this Agreement captioned "Expiration."
  • Monthly Administrative Fee*: After the first 12 calendar months following the opening date of the Giftaccount, a $2.50 fee will be deducted from the Giftaccount each month until the Giftaccount expires. This fee will not be charged once the balance on the Giftaccount reaches $0.00.
    *New York customers only: For Giftaccounts purchased at retail in New York or by New York residents via the Internet, no monthly service fee shall be imposed at any time prior to the thirteenth consecutive month of non-use.
  • Foreign Transaction Fee: A foreign transaction fee may be imposed if you purchase goods or services from a merchant that is located outside the United States. See the section of this Agreement captioned "Foreign Transaction Conversion and Fee."

Using This Giftaccount

The Giftaccount may be used when making purchases on the Internet, by telephone, or by mail order from any merchant that accepts Visa debit. The Giftaccount may not be refunded or exchanged for cash, cash equivalents (such as money orders or travelers checks), or credit. At the time of each purchase using the Giftaccount, the dollar amount of the purchase will be deducted from the balance of the Giftaccount.

Some merchants may perform a "pre-authorization" to validate the Giftaccount before completing a purchase transaction. The amount of the pre-authorization will remain unavailable until a transaction in the same amount is posted to the Giftaccount or for 3 business days, whichever is sooner. As a result, pre-authorizations may cause the "available" balance of your Giftaccount to be lower than the actual balance.


Overspending

Transactions that exceed the available balance of the Giftaccount will be declined.


Customer Service/Balance Inquiries

To check the available balance on the Giftaccount, review recent transactions, or obtain any other customer service at no charge, you may visit www.simongiftaccount.com or call 1-866-885-6320 anytime, 24 hours a day, seven days a week.


Returned or Exchanged Merchandise

You agree that MetaBank and Visa, and their affiliates, employees, and agents, including but not limited to Simon Property Group and its affiliates, employees, and agents, are not responsible for the services or merchandise purchased with the Giftaccount or any damages resulting directly or indirectly from the use of the Giftaccount. If you have a problem with merchandise or services purchased with a Giftaccount, that problem needs to be adjusted and resolved with the merchant from whom the purchase was made. Exchange or return of merchandise purchased in whole or in part with the Giftaccount will be governed by the procedures and policies of each merchant and applicable law. If you receive a credit, the credit may not be added to the available balance of the Giftaccount for seven business days.


Foreign Transaction Conversion and Fee

Transactions made in a foreign currency will be converted to U.S. Dollars under the applicable rules of Visa U.S.A. As of the effective date of this Agreement, Visa rules provide that the amount of your transaction in dollars will be the amount of the foreign currency times either (a) 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 (b) the government-mandated rate in effect for the applicable central processing date. All transactions in which the merchant is located in a country other than the U.S. may be subject to a fee equal to 3% of the transaction amount, even if the transaction does not require currency to be converted.


Liability and Error Resolution Procedures

MetaBank is not liable for any failed transactions if you do not have enough money in your Giftaccount to cover a transaction, the payment system is not working properly, circumstances beyond our control prevent the transaction, or the merchant authorizes an amount greater than the purchase amount.


If there is a problem or dispute with the purchase of goods or services, you must address it directly with the merchant involved. Refunds and returns are subject to the merchant’s policies or applicable laws. In case of other errors on your Giftaccount, or if you need more information about a transaction or about our error resolution procedures, please call Giftaccount Services immediately at 1-866-885-6320. You must call within 30 days of the date of any transaction you are questioning.


We may require that you send your complaint or question in a signed affidavit so that we receive it within 10 business days from the date of your telephone call. Generally, we will tell you the results of the investigation within 10 business days after hearing from you and will correct any error promptly. If we need more time, however, it may take up to 45 calendar days to investigate your complaint or question.


Liability for Unauthorized Transactions

You should call 1-866-885-6320 immediately to report unauthorized transactions. You will be required to provide your name, the Giftaccount number, original value, and transaction history. We reserve the right to require an affidavit and conduct an investigation into the validity of any alleged unauthorized transaction. You will not be liable for transactions identified by us as unauthorized.


Disclosure of Information to Third Parties

We may disclose information to third parties about your Giftaccount or the transactions you make: (a) where it is necessary for completing transactions; (b) to verify the existence and condition of your Giftaccount to a third party; (c) to utilize services of third parties and affiliate entities who assist us in providing the Giftaccount and related services; (d) to comply with government agency rules or court orders; (e) if you give us your permission; (f) if you owe us money or there are legal proceedings in connection with your Giftaccount, in which case information may be released to attorneys, accountants, collection bureaus, financial institutions, and others involved in collection, adjustment, settlement or reporting; (g) to protect against potential fraud and other crimes; or (h) when otherwise permitted by law. We may also share information about you and your Giftaccount, based upon our transactions and experiences with you, with our parent, affiliate and subsidiary companies, and with Simon Property Group and its affiliates.


Liability for Failure to Complete Transactions

MetaBank may be liable for failure to complete transactions. We will not be liable under certain circumstances, however, such as:

  • If your Giftaccount has been closed; or
  • If, through no fault of ours, you do not have enough money in the Giftaccount to cover a transaction; or
  • If the payment system was not working properly; or
  • If circumstances beyond our control (such as flood or fire) prevent the transaction, despite reasonable precautions that we have taken; or
  • If there are other exceptions stated in these terms and conditions or provided by law.


Preauthorized / Recurring Payments

You agree not to make preauthorized or recurring regular payments through the use of the Giftaccount. We reserve the right to close any Giftaccount that we believe is being used for preauthorized or recurring payments.


Expiration

The Giftaccount is valid through the expiration date shown on the front of the reference card provided to you when the Giftaccount was opened and in the "My Accounts" section of www.simongiftaccount.com or until the value on the Giftaccount reaches zero, except where prohibited or modified by applicable law. When the Giftaccount expires it will be closed and any unused balance will be handled according the state escheatment law. If there is a balance remaining after the expiration date, you may call 1-866-885-6320 to request that a new Giftaccount be opened as allowed in accordance with applicable law. The new Giftaccount will have a value equal to the remaining balance of the expired Giftaccount minus an Expired Account Fee in the amount shown in the section of this Agreement captioned "MetaBank Fees". The expiration date on the new Giftaccount will be at least 20 months from the date the new Giftaccount is opened.


Revocation

MetaBank may close the Giftaccount at any time without cause or notice. You may not use a closed Giftaccount to make purchases. Unless we have closed the Giftaccount due to suspected fraud, illegal activity, or breach of this Agreement, any remaining balance will be sent to you by check as long as you discontinue any use of the Giftaccount and send your name and mailing address to, Attn: Giftcard Department, 225 W. Washington St., Indianapolis, IN 46204.


Conversion To Physical Simon Visa Giftcard®

Giftaccounts are intended to be used primarily for electronic commerce, mail order, and telephone order purchases. No physical card is issued. If you wish, you may convert a Giftaccount to a plastic Simon Giftcard issued by MetaBank. The new Giftcard will have a value equal to the remaining balance of the Giftaccount minus a Conversion Fee in the amount shown in the section of this Agreement captioned "MetaBank Fees". The expiration date on the Giftcard will be at least 20 months from the date the card is issued. When you request conversion to a Giftcard, your Giftaccount will be closed and you will not be able to access the funds until you receive and activate the Giftcard.

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