This Cardholder Agreement (“Agreement”) sets forth the terms and conditions under which the Paxum UnionPay Prepaid Card (the “Card”) has been issued to you. By accepting, activating, signing, or using this Card, you hereby agree to the terms and conditions within in this Agreement.
In this Agreement, "Card" means the Paxum UnionPay Prepaid Card issued to you by Paxum Bank Limited(the “Bank”).
“Card Account” means the records we maintain to account for the value of purchases, charges, claims and the like associated with the Card.
"You" and "your" means the person or persons who have applied for and received the Card, and are authorized to use the Card as provided for in this Agreement.
“Issuer” and “Bank” means Paxum Bank Limited, a bank formed under the laws of Commonwealth of Dominica, having a principal card issuing license from Union Pay International.
"We," "us," and "our" mean Paxum Inc, registered under the laws of Commonwealth of Dominica and having its address at 1st Floor, 7 King George V Street, Roseau, Commonwealth of Dominica, our successors, and affiliated entities, or assigns.
You agree to sign the back of the Card immediately upon receipt. The Card will remain the property of the issuer, and must be surrendered upon demand.
Your Card is nontransferable, and it may be canceled, repossessed, or revoked at any time by us without notice.
Your Card is a prepaid card, which means you must add funds to your Card Account in order to use it. You acknowledge and agree that the value available in the Card Account is limited to the funds that you have loaded onto your Card Account. You should treat your Card as if it were cash. Your Card Account is not a checking or savings account, and it is not linked to any other bank or credit account you may have. The Card is not a gift card, nor is it intended to be used to gift or transfer the Card to another person. The Card is not a credit card. You will not receive any interest on the funds in your Card Account. We may close your Card Account or decline to process any transaction that we believe may violate the terms of this Agreement. You cannot sell or transfer your Card to another person. The Card can only be used by you for the purposes set forth in this Agreement.
We will deduct our fees for your Card from your Card Account provided that there is a sufficient balance in your Card Account to cover such fees. If your Card Account balance is less than the Monthly Service fee, we will apply the balance of your Card Account to the Monthly Service fee amount resulting in a zero balance on your Card Account, and we will collect the remaining balance of the Monthly Service fee from your next subsequent load of funds to your Card Account. The Monthly Service fee will be assessed and deducted from your Card Account on the same day each month beginning 30 days following your Card activation. Any other fees incurred will be in addition to the Monthly Service fee. If your Card Account balance does not contain a sufficient balance to cover the fees owed, and deducting such fees will render your Card Account balance with a zero or negative balance, your Card may be closed if you do not load sufficient funds into your Card Account to eliminate zero or negative account balance within 90 days.
Our TABLE OF FEES can be found on our website www.paxum.com/fees/personal
Opening a Card Account: Anti-money laundering laws and regulations require that we obtain, verify, and record information that identifies each person who opens a Card Account.
Verifying Your Identity: When you open a Card Account, you must provide us with your name, street address, date of birth, government identification number, and other information that will enable us to identify you. We may also ask to see a copy of a valid government issued picture identification card, proof of current address, or other similar documents at any time. We reserve the right to limit your ability to use your Card or certain Card functions until we have successfully verified your identity.
Eligibility and Activation: You represent and warrant to us that: (i) you are at least 18 years of age; (ii) the personal information that you have provided to us is true, correct and complete; and (iii) you have read this Agreement and agree to be bound by and comply with its terms. To activate your Card, visit our website for further instructions. You will need to provide personal information in order to verify your identity for Card registration.
You may use your Card to purchase or lease goods or services wherever your Card is accepted provided you do not exceed the balance available in your Card Account. Some of these services may not be available at all terminals.
Your card shall not be used for any purpose prohibited by laws applicable in your jurisdiction or the jurisdiction of Card use.
You can only access available funds in your Card Account by using your Card. You cannot access funds your Card Account by using a check, check-by-phone, or in any manner that attempts to use a check as a substitute for your Card. If you do attempt to access your Card Account balance by check, the transaction will be declined.
If you lose your Card, misplace your PIN, or for another reason wish replace your Card for any reason except a Card expiration, you may request a replacement card via our website. You will be required to provide personal information which may include your Card number, your full name, the transaction history, copies of acceptable identification, etc. There is a fee for replacing a lost, stolen or damaged Card.
Your Card has an expiration date plainly stated on the Card. Your Card may not be used after its expiration date. At no cost to you, we will automatically send you a replacement Card prior to the expiration date provided that you have recently used your Card. While your Card may expire, the funds balance in your Card Account do not expire. Please keep your address updated on your account, as a Card returned to us because of outdated address will result in a fee to send another Card to your updated address.
You can contact Customer Service by logging into your account through our website at www.paxum.com. You may also speak with representative, Monday - Friday, 7 a.m. to 3 p.m. ET.
If we do not complete a transaction to or from your Card Account for any of the following reasons, we will not be responsible:
You are responsible for notifying us immediately upon any change to your address.
You are prohibited from assigning or transferring your Card and your obligations under this Agreement. We may transfer our rights and obligations under this Agreement without your approval.
In the event that we waive our rights to enforce any provision of this Agreement, such waiver shall not constitute our continuing waiver with regard to the subject issue or any other. Further, a delay of exercising our rights does not constitute a waiver of our rights.
If any provision or portion thereof of this Agreement shall be adjudicated to be invalid or unenforceable, the validity or enforceability of any remaining provision of this Agreement shall not be affected. This Agreement will be governed by the laws of Commonwealth of Dominica.
We will notify you if the terms of this Agreement must change by requirement of law.
You may cancel your Card and close your Card Account at any time without notice. Your termination of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to termination. At such time of cancellation, if there remains a balance in your Card Account, it will be transferred to your Paxum Payment account..
If your Card Account becomes inactive, applicable law may require us to report funds in your Card Account as unclaimed property. If we are unable to locate you, we may be required by law to deliver the balance of funds in your Card Account to the proper legal body with jurisdiction as unclaimed property.
Except when required by law, we and the Bank are not liable to you for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to your Card, your Card Account, any products or services purchased using your Card or your Card Account, or this Agreement.
The following E-Communication Disclosure (“Disclosure”) applies to any and all communications or disclosures that we are legally required to provide to you in writing in connection with your Card Account and any related products and services (“Communications”), to the extent you have consented to receiving such Communications electronically. Your acceptance of this Agreement and your Card shall constitute your consent to these Disclosure terms.
Scope of Electronic Communications. Your consent to receive electronic Communications includes, but is not limited to the following:
All electronic Communications that we provide you in electronic form will be provided by posting such Communications to your account on our website at www.paxum.com and/or to your email address associated with your Paxum account.
You may withdraw your consent to receive electronic Communications at any time by contacting us via our website. If you withdraw your consent, we reserve the right to close your Card Account, except where prohibited by law. If you withdraw your consent, it may take a reasonable time period to process your request. A withdrawal of your consent shall not affect the enforceability of prior electronic Communications.
We will not send you a paper copy of any Communication unless you request it or we otherwise deem it necessary. You can obtain a paper copy of an electronic Communication by requesting so on our website.
Any claim, dispute, or controversy (collectively, a “Dispute”) arising out of or relating in any way to: (i) this Agreement; (ii) your Card; (iii) your use of the Card; (vi) the Card Account; (v) advertisements, promotions or oral or written statements related to the Cards, as well as goods or services purchased with the Card; (vii) the benefits and services related to the Cards; or (viii) transactions on the Card, shall be SOLELY and EXCLUSIVELY resolved by binding arbitration conducted by the American Arbitration Association (“AAA”) located exclusively in Chicago, Illinois, USA under its Consumer Arbitration Rules. This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16).
ARBITRATION OF YOUR CLAIM IS MANDATORY AND BINDING. NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO A JURY TRIAL OR TO ENGAGE IN DISCOVERY, EXCEPT AS PROVIDED FOR IN THE AAA CODE OF PROCEDURE.
All determinations as to the scope, interpretation, enforceability and validity of this Agreement shall be made final exclusively by the arbitrator, which award shall be binding and final. Judgment on the arbitration award may be entered in any court having jurisdiction.
NO CLASS ACTION, OR OTHER REPRESENTATIVE ACTION OR PRIVATE ATTORNEY GENERAL ACTION OR JOINDER OR CONSOLIDATION OF ANY CLAIM WITH A CLAIM OF ANOTHER PERSON OR CLASS OF CLAIMANTS SHALL BE ALLOWABLE.
This arbitration provision shall survive: (i) the termination of the Agreement; (ii) the bankruptcy of any party; (iii) any transfer, sale or assignment of your Card, or any amounts owed on your Card, to any other person or entity; or (iv) expiration of the Card. If any portion of this arbitration provision is deemed invalid or unenforceable, the remaining portions shall remain in force.
We may disclose information to third parties about you, your Card Account or your Card transactions for the purposes set forth below. Information we share may include any information submitted by you during the application process, any information you share with us over the phone, in writing, or electronic communications, and information about your account usage and transactions. This information is shared only for the following purposes:
We do not share or sell your information to unaffiliated third parties. You may opt out of sharing your information at any time on our website. Upon opting out of sharing your information, we will close your account. After your account is closed, your information will be retained in our system for the duration required by law.
|Maximum balance at any time||$15,000.00|
|Maximum monthly load||$15,000.00|
|Maximum annual load||$100,000.00|
|Maximum daily load||$5,000.00|
|Maximum POS daily||$5,000.00|
|Maximum POS monthly||$15,000.00|
|Maximum POS Yearly||$100,000.00|
|Daily ATM withdrawal limit||$2,500.00|
|Monthly ATM withdrawal limit||$15,000.00|
|Annual ATM withdrawal limit||$100,000.00|
|ATM FEE in Card Currency||$2.00 + 1%|
|ATM FEE Withdrawal with FX||$2.00 + 3% FX|
|ATM FEE Decline||$0.00|
|POS in Card Currency||$0.00|
|POS in another currency (FX)||$0.00 + 3% FX|
|POS Declined Transaction||$0.00|
|Annual Account Maintenance||$0.00|
|Monthly Maintenance Fee||$3.75|
|Card Load from Personal Payment Account||$0.25|
|Card Load from Business Payment Account||$1.00|