The following Product Terms apply to prepaid access services provided by Bank Partner to Client and/or End Users as set forth in the Covered Banking Services section of the Banking Services Agreement (collectively, the “Prepaid Access Services”). These Product Terms are governed by, and incorporated by reference into, the Banking Services Agreement (“BSA”). Capitalized terms not otherwise defined herein are ascribed the same meaning as set forth in the BSA.

1.1 Prepaid Access Services. If applicable, Bank Partner will provide Client and/or End Users with Prepaid Access Services as set forth in these Product Terms and the BSA, pursuant to which Bank Partner will provide  Client and/or End Users with access to funds or the value of funds that have been paid in advance and can be retrieved or transferred at some point in the future through an electronic device or vehicle, such as a card, code, electronic serial number, mobile identification number or personal identification number. Bank Partner will determine the structure of Accounts, if any, associated with the Prepaid Access Services as set forth in Section 3.1 of the BSA, provided that in no event will End User funds be owned by Client, held in Client’s name, or otherwise controlled by Client without the mutual written agreement of the Parties. Unless otherwise agreed in writing by the Parties, for purposes of the Prepaid Access Services, Bank Partner is the provider of the prepaid access and shall exercise principal oversight and control over such services, in each case for purposes of the prepaid access rules promulgated by FinCEN, at 31 C.F.R. Part 1010.

1.2 Prepaid Access Services Reserve Account. As a condition to Bank Partner providing the Prepaid Access Services to Client and/or End Users, Client acknowledges and agrees that Client will fund a Reserve Account and maintain the Minimum Required Reserve Account balance in such Reserve Account, in each case as set forth in Section 3.2 of the BSA.

1.3 Prepaid Access End User Documentation. In addition to any related requirements set forth in the BSA, to the extent applicable, Prepaid Access Services may be subject to and governed by applicable End User Documentation as determined by Bank Partner. Unless expressly agreed to by Bank Partner and documented via an applicable agreement between Bank Partner and End User, Client acknowledges and agrees with respect to the Prepaid Access Services that (i) none of Client’s applicable agreements with Bank Partner, nor Client’s applicable End User agreements, establish a contractual or customer relationship between such End Users and Bank Partner; and (ii) Client shall not take any actions to claim, imply, or assert that there is any contractual or customer relationship between such End Users and Bank Partner.

1.4 Suspension and Termination of Prepaid Access Services. In addition to any rights set forth in the BSA, Bank Partner will have the right to immediately suspend or terminate the Prepaid Access Services or any End User’s access to the Prepaid Access Services, or disable any features of such Prepaid Access Services in its discretion as permitted under Applicable Law and any applicable End User Documentation, including without limitation, if: (a) Bank Partner determines that the Prepaid Access Services are being used for fraudulent or illegal purposes, in violation of Applicable Law, End User Documentation, or any other agreement with Bank Partner; (b) if multiple transactions are returned with respect to a user of the Prepaid Access Services; or (c) if Bank Partner determines that the Prepaid Access Services otherwise present undue risk to Bank Partner. Client agrees to promptly notify Bank Partner if Client becomes aware of any suspicious activities or unauthorized use of the Prepaid Access Services.

1.5 Tax Forms; Reporting and Escheatment of Unclaimed Property. Client will be responsible for the costs incurred by Bank Partner and/or Bank Partner’s service provider(s) in connection with (a) preparation, filing, and delivery of tax forms related to the Prepaid Access Services; and (b) the reporting and/or escheatment of abandoned or unclaimed property in connection with the Prepaid Access Services, as applicable. 

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