Terms and Conditions

INTRODUCTION

THIS PRODUCT IS NOT INSURED BY THE FDIC OR ANY OTHER FEDERAL AGENCY.

This document describes your rights and responsibilities applicable to your Debit or ATM card, and adds the following information to the Deposit Account Terms and Conditions Agreement or other Account Agreements, and to any updated information we have provided to you from the time you opened your account.

UNTIL DULY VALIDATED BY THE BANK, THE ACCESS DEVICE MAY NOT BE USED FOR ELECTRONIC FUNDS TRANSFER PURPOSES VIA ATMs. IF YOU RECEIVE AN ACCESS CARD AND DO NOT WISH TO USE IT, PLEASE DESTROY IT BY CUTTING IT IN HALF.

To validate the access device, contact the bank at 787-705-7641 or 1-877-979-FACE, toll free, or send an email to [email protected] indicating your wish to validate your Visa Debit Card.

SERVICES

Once the access device has been duly validated by the Bank, you may use it at any affiliated network ATM for one or more of the following services, subject to the Bank’s availability:

1. Withdraw funds from your checking account.
2. Verify your checking account balance.
3. Use your validated card to pay for purchases and services (POS) at establishments that have agreed to accept it as a means of payment.

The above services will be subject to those other terms, conditions and limitations contained in the Checking Account Agreement.

You will be able to monitor your device’s transactions through the Internet or mobile banking application. You can also review your statements on a regular basis to verify your transactions.

USING YOUR CARD VIA A MOBILE DEVICE

If you conduct Debit Card transactions via a Mobile Device, these Terms and Conditions apply. When you use your Debit Card with your Mobile Device for transactions:

– Availability may be affected by your wireless carrier’s coverage area, and your mobile provider may charge you messaging and data service fees, or other fees.

– Because your Debit Card information is sent over wireless and computer networks, information about your Mobile Device may be transmitted to us.

– You must protect your Mobile Device just as you would protect your cash, credit cards and other valuable information. We recommend protecting your Mobile Device with a password, or locking it to help prevent unauthorized use.

– Please notify us immediately if the Mobile Device containing your Digital Card Number is lost or stolen.

– When you make a purchase or payment through your Mobile Device, the merchant may not provide a Cash Back option.

LIMITATIONS ON TRANSFER AMOUNTS / TRANSACTIONS

1. ATMs – Cash withdrawals from your checking or savings account may not exceed $500.00 for each 24-hour period. In addition, these withdrawals will be subject to the availability of the funds in your checking account.
2. Point of Sale (POS) – Checking account point-of-sale (POS) transactions may not exceed $1,500.00 for each 24-hour period. In addition, these transactions will be subject to the availability of the funds in your checking account.
3. Partial Authorization for Card Transactions – When making a purchase, if the amount of a purchase made with the Card exceeds the current Available Balance in the linked checking Account or primary savings Account, you may be able to use your Available Balance to pay for a portion of the total purchase. The transaction will be subject to a daily purchase limit for partial authorization, as established by us, along with your Card’s daily dollar limit. We will first attempt to approve the full purchase amount with the funds available in your checking account, as well as linked Overdraft Protection account(s). If you are enrolled, we will also use the Debit Card Overdraft Service. If we do not approve the full purchase amount, we may approve a portion of the purchase using the remaining available funds in your checking account. This is called a «partial authorization». The remaining amount of the total purchase must be covered by another form of payment, such as cash or another card. If you are unable or unwilling to provide another form of payment, the merchant will revoke the partial authorization. Not all merchants can accept partial authorizations or process transactions using multiple forms of payment.

SERVICE CHARGES

The bank reserves the right to adopt a service charge in accordance with the rates that may be established, after notifying the depositor of such charges at least thirty (30) days prior to the effective date thereof. Other institutions or local, national, regional or international networks may impose fees for the use of their automated teller machines (ATMs).

HOW OVERDRAFTS ARE GENERATED WHEN USING YOUR CARD

An Overdraft occurs when you do not have enough money in your Account to cover the amount of a transaction, and we pay the transaction amount instead of rejecting or returning it without paying. However, if an Overdraft occurs in your Account, you must deposit the amount of all the Overdrafts. You may also have to pay a fee. For pre-authorized recurring payments using a debit Card, we have the right to: 1) authorize and pay the Overdrafts or 2) reject the Overdrafts. You must pay all Overdrafts immediately.

RIGHT TO RECEIVE DOCUMENTATION ABOUT TRANSFERS

You will get a receipt at the POS terminals when paying for purchase and services. This receipt will contain the transfer amount, date, transfer type, an ID number or code related to the consumer’s account or device used to initiate the transfer, and the location of the ATM or POS terminal.

Account Statement – You will be able to access your account statement monthly through the Virtual Bank. The monthly statement will identify transactions conducted through ATMs and point-of-sale (POS) terminals that affect your checking account during that period. It will detail the date, amount, transaction type, and location or machine where it was conducted.

LIABILITY FOR UNAUTHORIZED TRANSACTIONS ACCORDING TO REGULATION E

If you believe that a Bank-validated access device has been lost or stolen, or if you believe the access device has been used or may be used by someone not authorized by you to transfer or withdraw funds from your account, you must report it immediately. Any transaction made by a person to whom you voluntarily give your access device will be considered «authorized», unless you inform us that the authorization has been revoked. Contacting us by phone or sending an email to [email protected] is the fastest way to notify us, and thus reduce possible losses. You may lose all the funds deposited into the checking account. If you notify us within two (2) business days of the date you became aware of the theft, loss or unauthorized use of the access device, you will only be liable for up to the amount of $50, or the amount of the unauthorized electronic transfer prior to notification within the aforementioned 2 business days. You may lose up to $500 or the amount of $50, or the amount of the unauthorized electronic transfer made between two (2) business days and the applicable notice, whichever is less. In addition, if the checking statement reflects transfers through ATMs not made or authorized by you, you must notify us immediately. If you DO NOT notify us within 60 days of the sending of the statement in question, you will not be entitled to any refund for transfers or withdrawals made after such 60-day period if we can prove we could have prevented anyone from taking the money from your account if you had notified us on time. If an access device is involved in these transfers, you may also be liable under the preceding paragraphs. If any compelling or mitigating reason prevents you from notifying us in a timely manner, we will extend the above periods to a reasonable period of time on a case-by-case basis. You can contact us by phone at 787-705-7641 or 1-877-979-FACE (1-877-979-3223), toll free, or send an email to [email protected]. We reiterate that, in order to minimize your risk of possible losses, the most effective way to notify us is by phone.

Illegal transactions and Internet Gambling – You cannot use your Card or Account for any unlawful purpose. You must not use your Card or Account to fund any account established to facilitate Internet gambling, except for certain government-owned (or state-owned) lotteries and certain government-licensed horse/dog races or Internet casinos. At our discretion, we may allow or reject transactions or authorizations from merchants that appear to be engaged or identified as engaged in the Internet gambling business.

ACCESS CARD USE AT ATMs

The Depositor will have access to the Account through the use of the access device (the Card), the password and/or secret PIN, and/or any other security mechanism or system established by the Bank. The Card may be used as a means of access for ATMs and those ATMs of institutions affiliated with the network to which the Bank is affiliated, inside and outside Puerto Rico, and the local and international networks to which the Bank is affiliated, and identified with their respective logos on the ATMs.

II.                ACCESS DEVICE USE

1. The Depositor may withdrawal funds from the account using the Card and secret PIN (and/or password, depending on the security mechanism or system established by the Bank) selected. These withdrawals will be regulated by the terms and conditions contained in the Green Account Agreement.
2. The Bank reserves the right to allow cash withdrawals via ATMs when not in direct communication with the central computer.
3. On the next business day, the Bank will process any transactions made at the ATMs after the transaction effectiveness deadline indicated on each machine.
4. The Depositor will be liable to the Bank for any debit to the Account corresponding to the funds withdrawn through the use of the Card and Secret PIN (and/or password, depending on the security mechanism or system established by the Bank), and for any overdrafts arising or amount exceeding the balance of the funds available in the Account as a result of such debits.
5. In the case of accounts in which there is a co-owner or authorized person, the Depositor may request the issuance of additional cards in the name of the co-owners and those authorized for the Account. For the Account, the Bank will be authorized to recognize the requested and authorized cards as valid, as well as the Secret PIN (and/or password, according to the security mechanism or system established by the Bank), selected by each holder of said access cards, in the case of withdrawals as related to the Account. Any debit to the Account corresponding to funds withdrawn by the Depositor through the use of the Card and Secret PIN (and/or password, according to the security mechanism or system established by the Bank) will be validated. The Depositor will be responsible for such withdrawals, and relieves the Bank of all liability for any loss as a result of the use of such cards and Secret PINs (and/or password, according to the security mechanism or system established by the Bank).
6. The Depositor is responsible for maintaining the confidentiality of the Secret PIN (and/or password, according to the security mechanism or system established by the Bank) to prevent the electronic transfer of funds by unauthorized individuals. For this reason, the Secret PIN (and/or password, according to the security mechanism or system established by the Bank) will not accompany the Card in easily accessible places, such as your wallet.
7. Any transaction by an individual to whom you voluntarily give your access device will be considered «authorized», unless you inform us that the authorization has been revoked.
8. The Depositor agrees that the Card will at all times be the property of the Bank, and agrees to return it immediately when requested by the Bank.
9. For security reasons, the Bank may cancel the card at any time, and without prior notice to the Depositor.
10. The virtual card will be exclusively for online purchases.

Some financial institutions or local, national, regional or international networks may impose fees for the use of their automated teller machines (ATMs). Please contact your Business Facilitator or our Customer Service Center for a list of suggested financial institutions whose ATMs do not charge fees to FACEBANK cardholders for cash withdrawals.

a.  Foreign operations (outside the U.S., Puerto Rico and other possessions and territories) – for each «international» transaction the customer conducts, meaning foreign currency, the MasterCard brand will charge 1.00% of the transaction amount to cover the costs of the currency exchange processing and the handling of an international transaction.

b.  IMPORTANT: Cash Purchases or Withdrawals in Currencies other than the U.S. dollar – When a customer makes a withdrawal in a currency other than the U.S. dollar, the amount of such purchase or withdrawal will be converted to the U.S. dollar using the official exchange rate of the country where the transaction is conducted. FACEBANK INTERNATIONAL, AS WELL AS VISA have no control over the rate to be used, which is usually established by that country’s central bank.

There are some countries where the official exchange rate is significantly different in relation to other exchange rates for parallel or alternative markets – a difference that can be more than 200% in some specific cases.

Purchases using an ATM Card are only available at merchants that accept payment through the networks in which we participant, and require a PIN to authorize the purchase.

Fees for cash advances may apply when using an ATM. Please refer to the applicable credit card account agreement or line of credit account agreement for details.

ATM Account Statements must not be used in place of the Account statement to reconcile or verify the actual balance of the Account.

FACEBANK does not have and does not operate a network. See the notes below:

1) Some ATMs may not give you the option to choose which Account to access, or may only allow you to access one of your Accounts (if you have more than one).

2) Some transactions may not be available at all ATMs, or may be restricted to withdrawal limit(s) established by the ATM provider.

DISCLOSURE OF YOUR INFORMATION

While we will not generally disclose information about your Account, we may do so under the following circumstances:

– To comply with a statue, regulation or rule.

– To comply with a legal process, including a subpoena, search warrant or other order from a court or government agency.

– In connection with examinations by state and federal banking authorities.

– We are required to disclose information to complete a transaction.

– To verify the existence and status of your Account to a third party. For example, a merchant or credit bureau.

– To provide information to the legal representative or successor of a deceased co-owner regarding the period during which the decedent had an interest in your Account.

– To report the involuntary closure of your Account.

– When disclosure is necessary to protect you, your Account or our interests.

– If you so authorize it.

– For our agents, independent contractors and other representatives who work in the administration or process your Account transactions, perform an Account analysis, or for similar purposes.

– To our companies and affiliates, in accordance with our Privacy Policy.

Rev. 11-16-25