Lowe's PreLoad Discover® Card Account Agreement

This Lowe’s PreLoad Discover® Card (“PreLoad Account”) Account Agreement, including the Fees Matrix (collectively referred to as this “Agreement”), sets forth the terms of your Lowe’s PreLoad Account. Please read it carefully and retain it for your records. This Agreement is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Discover Financial Services. Discover and the Discover acceptance mark are service marks used by Sunrise Banks N.A. under license from Discover Financial Services. Company shall be responsible for notifying Company Cardholders of the relevant terms applicable to their Company Card use and for ensuring that each Company Cardholder complies with the terms and conditions set forth in this Agreement.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW LOWE’S PRELOAD ACCOUNT:

To help the government fight the funding of terrorism and money laundering activities, USA PATRIOT Act requires all financial institutions and their third parties to obtain, verify and record information that identifies each entity or person who opens an account. What this means for you: When you open an account, we will ask for your name, physical address, date of birth, taxpayer identification number and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

When a PreLoad Account is opened on behalf of a Company, we may ask for copies of certain information that will help us verify a Company’s information, and/or the identity of its PreLoad Account Administrators, Trusted Agent(s), and Company Cardholders. Company information which may be collected includes but is not limited to; address corporate organizational documents and certificates, and federal employer identification number (EIN). Personal information which may be collected from Company’s principal owners and Company Cardholders includes, but is not limited to; name, address, phone number, date of birth, social security number or individual taxpayer identification number (ITIN), driver’s license and/or passport.

  1. Definitions

individual operating as a sole proprietorship, partnership, limited liability company, trust or other form of commercial entity authorized by applicable law. The owners or principals of the commercial business must also personally guaranty and be personally liable for all transactions associated with the PreLoad Account Administrator and all associated Company Cards. All such guaranties are unlimited and joint and several in the case Company has multiple owners or principals.

  1. Agreement to Terms

By registering and being approved by the Authorized Card Servicer, you agree to the terms of this Agreement. If you do not agree to the terms of this Agreement or do not want to use the PreLoad Account, call us at 1 (855) 515-5214 to cancel the PreLoad Account (along with cutting in-half all Lowe’s PreLoad Company Cards). When any provision in this Agreement states that we may take certain actions, we may do so in our sole discretion. The terms of this Agreement are subject to amendment at any time in accordance with (see “27.0 Cancellation and Suspension” below).

  1. PreLoad Account Description

The PreLoad Account is a prepaid virtual account made available to Company’s designated Preload Account Administrators for commercial business purposes. The PreLoad Account allows the PreLoad Account Administrator and all registered and approved Trusted Agent(s) of the Company to access funds loaded to the PreLoad Account by the PreLoad Account Administrator or any of the Company’s Trusted Agent(s) that have been authorized by Company to load funds to the PreLoad Account. The PreLoad Account does not constitute a checking or savings account. The PreLoad Account is not a traditional prepaid card account but is intended to be used for business expense spending purposes. The PreLoad Account is not a credit card or line of credit account. Company will not receive any interest on the funds in the PreLoad Account. The funds in the PreLoad Account will be FDIC insured for the benefit of Company once we have been able to verify Company’s identity. The PreLoad Account will remain the property of the Bank and must be surrendered upon demand. The PreLoad Account is nontransferable and may be canceled or revoked at any time without prior notice except as required by law.

 *Non-administrators: Please skip to section 4.1

  1. Business Use Only

This PreLoad Account is to be used solely for funding the Company Card for business purposes and may not be used for consumer or household purposes. By using the PreLoad Account or providing the Company Card Number to any person, you represent and warrant to us that use of the PreLoad Account is solely for business funding of Company Card purposes.

  1. The Company Cardholder is to use the Company Card is to be solely for business purposes and may not be used for consumer or household purposes. By using the Company Card or providing the Company Card number to any person, you represent and warrant to us that use of the Company Card is solely for business purposes.

  *Non-administrators: Please skip to section 6.1

  1. Using the PreLoad Account Administrator Access

Once the PreLoad Account Administrator information has been verified, the PreLoad Account will be active. The opening balance will be Zero Dollars and Zero Cents ($0.00) in US Denomination. You will have three ways to fund your PreLoad Account, through (1) the Authorized Card Servicer desktop application at https://lowespreload.com/ (2) mobile application, and (3) by associating a registered financial institution account to the PreLoad Account and authorizing monetary transfers per the monthly limits. Although no credit history is required to open a Lowe’s PreLoad Account, the Company, the PreLoad Account Administrator and any Trusted Agent associated with the administration of the PreLoad Account on file authorize us to obtain information about them from time to time from credit reporting agencies, the employers and other third parties for our internal processes.

After PreLoad Account Administrator has funded the PreLoad Account and Company Cardholders have received and activated their Company Cards, you may transfer funds to Company Cards provided that such transfer of funds does not exceed the limits imposed at the Company Card by us. If any Company Cardholders are in a negative balance state, the Authorized Card Servicer reserves the right to return such card account balance to a zero dollar and zero cent ($0.00) state by transferring funds from the PreLoad Account to such negative balance Company Card. If the PreLoad Account does not have sufficient funds to remedy a negative balance Company Card, then the Authorized Card Servicer may assess fees pursuant to the (see “24.0 Fees Matrix” below).

Each time a PreLoad Account Administrator uses the PreLoad Account to fund a Company Card; you authorize us to reduce the value available on the PreLoad Account by the amount of the transaction plus applicable fees, if applicable. Any transaction that is completed using the correct logon credentials of the PreLoad Account Administrator and or the Company’s Trusted Agent(s), will be considered an authorized transaction. Company will be liable for all transactions arising from any use of the PreLoad Account. If any Company Cardholder is permitted to use the Company Card, Company will be responsible for any transactions made and any fees incurred by the Company Cardholder even if the Company Cardholder exceeds the scope of the authority granted to such Company Cardholder by the Company. Company Cardholders should only be persons Company trusts to honor its instructions and limitations.

  1. Managing the PreLoad Account

Through the Authorized Card Servicer’s Website or mobile application, the PreLoad Account Administrator and Trusted Agent(s) will have full administrative rights to the PreLoad Account and will be able to view and print account transaction activity 24 hours a day, 7 days a week for the PreLoad Account and all Company Cardholders associated with the PreLoad Account.

  1. Company Cardholders will have reduced access to view their Company Card transaction activity through the Authorized Card Service Website or mobile application. It is the Company Cardholder’s responsibility to keep Access Information confidential to deter other person(s) from using their PreLoad Account or accessing their PreLoad Account without their permission. Please allow at least one (1) business day after each transaction for the information to be updated online or on a mobile device.

*Non-administrators: Please skip to section 7.3

  1. Limitations on PreLoad Account Usage

All transactions are subject to the limitations set forth in this Agreement, and no transaction may exceed the available balance in the PreLoad Account. Unusual or suspicious load attempts may prompt a PreLoad Account suspension to allow us to investigate such unusual activity.

  1. PreLoad Account Load Limitations – The balance in the PreLoad Account may not exceed the $250,000 limit. Unusual or suspicious load attempts may prompt an account suspension to allow us to investigate such unusual activity. We reserve the right to adjust PreLoad Account load limitations in our sole discretion.

  1. Card Use Limitations – A Company Card has been assigned to the Company Cardholder for solely commercial business purposes. Any Company Card assigned is not to be used as a payroll expense card. The Company, the PreLoad Account Administrator, and any Trusted Agent associated with the administration of the PreLoad Account on file agree that they will: (i) use the Company Card as a corporate card solely for commercial business purposes; (ii) not use the Company Card at gambling websites or to purchase illegal goods or services; (iii) promptly notify us of any loss or theft of the Company Card; (iv) promptly notify us of the loss, theft, or unauthorized disclosure of any Access Information used to access the Company Card information or Company Card funds; (v) not use the Company Card for payroll expenses; (vi) not use the Company Card to purchase gift card(s) or money order(s); and (vii) use the Company Card only as permitted by this Agreement. The Company Card may not be accepted by certain merchants whose goods or services are not legal for minors. We may refuse to process any transaction that we believe violates the terms of this Agreement. We may suspend your Company Card and/or Company’s PreLoad Account to investigate any unusual activity that indicates a Company Card assigned to a Company Cardholder is being used for restricted activities such as payroll expense. Your failure to comply with the restrictions on use will cause the immediate termination of your Company Card and any Company Cards associated with your Company’s PreLoad Account.

  1. Card Purchase Limitations – A Company Cardholder may not make purchases that in the aggregate exceed the available balance in a Company Card as determined by the PreLoad Account Administrator or its Trusted Agent(s). If a merchant attempts to process a transaction for more than the value available in a Company Card, then the transaction will be declined. Unusual or multiple purchases may prompt a merchant inquiry or Company Card suspension to allow us to investigate such unusual activity.

*Non-administrators: Please skip to section 8.1

  1. Loading Funds

The PreLoad Account Administrator or Trusted Agent may add funds (referred to as “value loading”) to the PreLoad Account via:

Funding Sources

ACH from Company Bank Account via Dwolla

Debit or Credit Card

The PreLoad Account Administrator, or Trusted Agent, may add funds (referred to as “value loading”) to the PreLoad Account via ACH transfer from the Company bank account or via debit or credit card. In order to use the value loading functionality, in addition to your PreLoad Account, you must open a Dwolla platform account (“Platform Account”) provided by Dwolla, Inc. ("Dwolla"). By applying for a PreLoad Account, you are also applying for a Platform Account. You authorize Prepaid Technologies, Inc. to share the identity and account data you provide to us with Dwolla, as may be necessary for Dwolla to open and support your Platform Account. You are responsible for the accuracy and completeness of that data.

 

As part of opening a Platform Account, you must accept the Dwolla Terms of Service and Privacy Policy. Any funds held in the Platform Account are held by Dwolla's financial institution partners as set out in the Dwolla Terms of Service. You understand that you will access and manage your Platform Account through the Prepaid Technologies, Inc. application, and Platform Account notifications will be sent by Prepaid Technologies, Inc., not Dwolla. Prepaid Technologies, Inc. will provide customer support for your Dwolla Platform Account activity and can be reached at https://LowesPreLoad.com, support@LowesPreLoad.com or 1-855-515-5214.

NO OTHER TYPE OF VALUE LOADING IS ALLOWED FOR THE PRELOAD ACCOUNT, INCLUDING CASH LOADS THROUGH RETAIL LOAD NETWORKS (e.g. GreenDot, MoneyGram, Western Union, etc.), PREPAID and/or GIFT CARDS, OR DIRECT DEPOSIT.

The maximum amount that may be value loaded to the PreLoad Account is $250,000. The PreLoad Account Administrator or its Trusted Agent(s) may transfer funds from the PreLoad Account to any Company Card at any time through the Authorized Card Servicer Website or mobile application. The maximum amount that may be value loaded from the PreLoad Account to any Company Card is $50,000 The maximum aggregate value of the PreLoad Account, inclusive of all associated Company Cards, is restricted to $250,000 at any point in time. We reserve the right to accept or reject any request to load to the PreLoad Account or Company Cards. Loads are subject to appropriate anti-fraud verification. Prior to crediting loads to a PreLoad Account or any Company Card and making funds available to any Company Cardholder, certain delays may be required to assure funds are available for such loads.

  1. A Company Cardholder may NOT use the Bank’s routing number and the PreLoad deposit account number to make preauthorized payments from the PreLoad Account. You are not authorized to use the Bank’s routing number and PreLoad deposit account number for any other purpose. You do not have the right to stop payment on any purchase or payment transaction originated by use of your Company Card, except as otherwise permitted by this Agreement. If any Company Cardholder authorizes a transaction and then fails to make a purchase of that item as planned, the approval may result in a hold of that Company Card (see “17.0 Reversal of Transactions” below).

      *Non-administrators: Please skip to section 11.0

  1. Company Cardholders

The PreLoad Account Administrators and Trusted Agent(s) have the sole discretion in requesting the opening and closing of a Company Card. Each Company Card will consist of a branded Discover Card which is to be funded through the PreLoad Account only and which is to be used for business related purchases only. The Company Cardholder must be a person associated with the Company and will be authorized to make changes to select information (Address, Telephone Number, and Email) associated with their Company Cardholder information with or without the prior consent of either the PreLoad Account Administrator or the Company’s Trusted Agent(s). The Company is always the owner of all funds on the Company Card and Company Cardholder agrees that the Company Card shall only be used as authorized by Company.

  1. Activating the Company Card

All confirmed PreLoad Account Administrators will be assigned a personalized Discover card sent in the mail to Company within 10-12 Business Days of submitted application. The Company Card should arrive activated and without a balance. Although no credit history is required to open a Company Card, Company Cardholders authorize us to obtain information about them from time to time from credit reporting agencies, employers and other third parties for our internal processes.

  1. Using the Lowe’s PreLoad Discover Company Card

After the Company Cardholder receives their Company Card, they may use it to purchase goods and services at any Lowe’s Home Improvement stores or online at LowesForPros.com. If the Company Cardholder does not have enough funds available on their Company Card, then they can instruct the merchant to charge a part of the purchase to the Company Card and pay the remaining amount with other funds. These are called “split transactions,” and some merchants do not permit them. If the Company Cardholder makes a purchase without presenting the Company Card (such as for internet, mail or phone order purchases), the legal effect will be the same as if they used the Company Card itself.

Each time the Company Cardholder uses the Company Card to purchase goods or services, they authorize us to reduce the value available on the Company Card by the amount of the transaction plus applicable fees. Any transaction that is completed using the correct signature will be considered an authorized transaction. Company will be liable for all transactions arising from any use of the Company Card(s). If any Company Cardholder is permitted to use the Company Card, Company will be responsible for any transactions made and any fees incurred by the Company Cardholder even if the Company Cardholder exceeds the scope of the authority granted to such Company Cardholder by Company. Company Cardholders should only be persons Company trusts to honor its instructions and limitations.

   *Non-administrators: Please skip to section 13.0

  1. Managing Company Cards

Through our Authorized Service Provider Website (https://lowespreload.com/) or mobile application, the PreLoad Account Administrator, Trusted Agent(s), will have full administrative rights to the Company Card and will be able to view and print account transaction activity 24 hours a day, 7 days a week. The Company Cardholder will be able to access the same Authorized Service Provider Website (https://lowespreload.com/) and mobile application; however, have reduced access to view their Company Card transaction activity. It is the Company Cardholder’s responsibility to keep Access Information confidential to deter other person(s) from using their Company Card or accessing their Company Card without their permission. Please allow at least one (1) business day after each transaction for the information to be updated online.

  1. Merchant Authorization Holds

When a Company Cardholder uses their Discover Card to pay for goods or services, certain merchants may ask us to authorize the transaction in advance and may estimate its final value. When we authorize the transaction, we commit to make the requested funds available when the transaction finally settles and may place a temporary hold on the funds in such Company Card in the amount indicated by the merchant (which may be more than the final settled transaction amount). We also may add an amount for certain merchants to ensure that sufficient funds will be available to cover the final transaction. Transactions at certain merchants that authorize high dollar amounts, especially rental car companies and hotels, may cause an “authorization” or “hold” on such Company Card available balance for up to thirty (30) days. Until the transaction finally settles or we determine that it is unlikely to be processed, the funds subject to the hold will not be available to such Company Card for other purposes. We will only charge the Company Card for the correct amount of the final transaction, and we will release the hold on any excess amount when the transaction finally settles.

  1. Negative Balance

Because a Company Card may be assessed transaction fees even if a transaction is declined, it is possible for a rejected transaction to cause such Company Card to have a negative account balance and be overdrawn. We do not extend credit, so if any Company Card becomes overdrawn, the Company agrees to pay us the overdrawn amount immediately without further demand through the process of withdrawing funds from the PreLoad Account. We may deduct any negative balance amounts from any current or future funds on this or any other Company Card maintained with us, whether a PreLoad Account or subsequent Company Cards. If the PreLoad Account has a zero or negative balance, we may, at our option, cancel the Lowe’s PreLoad Account and any Company Cards associated with your Lowe’s PreLoad Account without notice, and/or pursue collection of any negative account balance plus all costs of collection including attorney fees.

  1. Refunds for Purchases Made with the Company Card

Any refund for goods or services purchased with the Company Card will be made in the form of a credit to the Company Card subject to the refund policy of Lowe’s. The Company Cardholder is not entitled to receive a cash refund.

  1. Disputes with Merchants

We are not responsible for the delivery, quality, safety, legality or any other aspect of goods and services that the Company Cardholder purchases from others with a Company Card. All such disputes should be addressed to the Lowe’s location from where the goods and services were purchased.

  1. Reversal of Transactions

Point of sale transactions cannot be reversed. If a Company Cardholder authorizes a transaction and then fails to make a purchase of that item as planned, the approval may result in a hold of funds equal to the estimated purchase amount, for up to seven (7) days.

  1. Additional Risk Associated with Use of Business Purpose Cards

Company agrees it will be responsible for all authorized and unauthorized transactions made through the use of any Company Card, except as otherwise described in this Agreement. Company Cardholders will not have the benefit of any consumer law limiting liability with respect to the unauthorized use of a Company Card. This means liability for the unauthorized use of a Company Card could be greater than the liability in a consumer prepaid card transaction. You accept and agree to undertake the additional risk and greater measure of liability associated with the use of business purpose cards as described in the Agreement.

  1. Discover Card Zero Liability Protection

With Discover’s Zero Liability Protection, the financial institution that issued your Discover Card in the U.S. and the Authorized Card Servicer won’t hold you responsible for “unauthorized purchases.” Zero liability applies to purchases made in the store, over the telephone, made online, or via a mobile device. As a Discover Company Cardholder, you will not be responsible in the event of unauthorized purchases provided that the following preconditions are met:

use.

If you believe there has been unauthorized use on your account and you meet the conditions above, rest easy knowing you have the protection of Discover’s Zero liability promise.

  1. Lost or Stolen Company Card; Unauthorized Transactions or Errors

A Company Cardholder should protect his or her Company Card against theft, loss and unauthorized use with the same level of care that they use to protect the cash in their wallet. Unless otherwise required by law or Discover Card rules, we will not be liable for unauthorized transactions unless we failed to process the transaction in good faith and in compliance with commercially reasonable security procedures. Under Discover Card Rules, the Company, the PreLoad Account Administrator and any Trusted Agent associated with the administration of the PreLoad Account on file will not be liable for any unauthorized transactions using a Company Card you can demonstrate that the Company Cardholder has exercised reasonable care in safeguarding their Company Card from risk of loss or theft. You (or Company’s Trusted Agent(s)) must notify us within two (2) days after the electronic statement was made available to you showing unauthorized transaction(s) in order to take advantage of any such limited liability provisions.

If a Company Card has been lost or stolen or believe someone has made an unauthorized transaction with a Company Card (or may attempt to use the Company Card without permission) or believe an error has occurred with the Company Card, Company Cardholder agrees to notify us IMMEDIATELY at 1 (855) 515-5214. This verbal notification must then be promptly confirmed by a written notice to us at Prepaid Technologies, Inc. – Customer Service, 217 Country Club Park #113, Mountain Brook, Alabama 35213-4237. When the Company Cardholder notify us, they must provide Company’s name, Company Cardholder’s name, Company Card number and other identifying details, and describe the error or transaction that they dispute (if applicable). We will cancel the Company Card, and if our records show that available funds remain in the Company Card, we will issue them a replacement Company Card loaded with the remaining value. There may be a fee associated with ordering a replacement Company Card (see “24.0 Fees Matrix” below). We reserve the right in accordance with applicable law to decline to issue the Company Cardholder a replacement Company Card. The Company, the PreLoad Account Administrator and any Trusted Agent associated with the administration of the PreLoad Account on file agree to assist us in determining the facts relating to any possible unauthorized use or error associated with the Company Card, and to comply with the procedures we may require for our investigation.

  1. Company Card Expiration/Settlement

Subject to applicable law, Company Cardholders may use their Company Cards only through its expiration date, which is stated on the front of the Company Card. If they attempt to use their Company Cards or add funds to their Company Cards after the expiration date, the transactions may not be processed. If there is a balance remaining in any Company Card upon expiration, a new Company Card may be issued to the Company Cardholder. Company Cardholders must activate any newly issued Company Card in order to access the funds in their Company Card. If we choose not to issue a new Company Card to the Company  Cardholder or if we cancel the Company Card for any reason, we will attempt to refund to Company the balance remaining in the Company Card less any amounts owed to us (e.g., fees and charges). The remaining balance will be returned to the PreLoad Account Administrator.

  1. Company Card Balance and Transaction History

The Company, the PreLoad Account Administrator and any Trusted Agent associated with the administration of the PreLoad Account on file and/or Company Cardholders can obtain information about the current available balance on any Company Card by calling 1 (855) 515-5214 or visiting https://lowespreload.com/ or by accessing information on a mobile iOS or Android supported device. Company will not be assessed a fee to check any Company Card balance using our Authorized Service Provider automated technology. The desktop (https://lowespreload.com/) will display balance information, along with a 60-day history of account transactions on your PreLoad Account and all Company Cards, at no charge. The mobile application will display balance information along with a 60-day history of account transaction on the PreLoad Account Administrator and all Company Cards, at no charge. The PreLoad Account Administrator also has the right to obtain a 60-day written history of account transactions by calling 1 (855) 515-5214 or by writing our Authorized Service Provider at Prepaid Technologies, Inc. – Customer Service, 217 Country Club Park #113, Mountain Brook, Alabama 35213-4237. Company may be assessed a fee for obtaining this written history (see “24.0 Fees Matrix” below).

  1. Schedule of Fees and Charges

We will charge Company, and Company agrees to pay, the fees and charges set forth in (see “24.0 Fees Matrix” below). Company Cardholder may also login via our Authorized Service Provider Website to view a complete list of fees. Unless otherwise stated, we generally deduct fees and charges from the PreLoad Account at the time a fee or charge is incurred. Such other fees and charges may be deducted from the Company Card incurring the fee. If a Company Cardholder request a service that is not included in (see “24.0 Fees Matrix” below) and there is a fee for such service, the fee will be disclosed at the time of the request, and the Company agrees that any such fee may be deducted from the PreLoad Account.

  1. Fees Matrix Assessed to the PreLoad Account

The following fees will be withdrawn from the PreLoad Account and will be assessed as long as there is a remaining balance on the PreLoad Account, except where prohibited by law. Any time the remaining PreLoad Account balance is less than the fee amount being assessed, funds from Company Cards will be returned to the PreLoad Account and the balance of the PreLoad Account will be applied to the fee amount.

Fee Description

Fee Amount

Frequency of Charge

Expedited Shipping Fees - All Company Cards will be fulfilled using United States Postal Service at no cost. Prepaid Technologies, Inc. will charge an additional fee if an administrator request expedited processing (2 business days) of a replacement or reissued Company Card.  If a fee is imposed, the fee will be denoted as “Expedited Shipping Fees” on the PreLoad Account transaction history/statement.

$35.00

One time per card fulfillment request

Paper Statement - All statements are available electronically, at no cost, through our Authorized Service Provider Website. If a monthly paper statement is requested for any Company Card; a fee will be assessed to the PreLoad Account for each monthly paper statement requested and issued. If a fee is imposed, the fee will be denoted as “Expedited Shipping Fees” on the PreLoad Account transaction history/statement.

$10.99

Monthly per Company vault and Company Cardholder*

Paper Statement - EComm - The E- Communication Statements are available electronically, at no cost, through our Authorized Card Servicer Website: https://lowespreload.com/. A fee will be assessed if Company elects to withdraw from receipt of E- Communications Statements and, instead, requests a paper copy of E-Communications. If a fee is imposed, the fee will be denoted as “Paper Statement – EComm” on the PreLoad Account transaction history/statement.

$10.99

Per Instance*

Paper Check Issuance Fee - If Company elects to close its Lowe’s PreLoad Account and if remaining funds exist on either the PreLoad Account or any Company Cards, the Company may transfer all Lowe’s PreLoad account funds back to its financial institutional account electronically at no cost charge. However, a one-time fee will be assessed if Company requests remaining funds be mailed to Company in the form of a check.  If a fee is imposed, the fee will be denoted as “Paper Check Issuance Fee” on the PreLoad Account transaction history/statement.

$39.99

Per instance

         * NO fee for statements made available electronically

  1. Fees Matrix Assessed to the Company Card

The following fee will be withdrawn from a Company Card and will be assessed at the time of authorization to purchase goods and.

Fee Description

Fee Amount

Frequency of Charge

Foreign Transaction Fee – A fee charged on a transaction in which the merchant is in a Country other than the U.S. or processes transactions outside of the U.S. If a fee is imposed, the fee will be denoted as “Foreign Transaction Fee” on Company Cardholder transaction history/statement.

3% of purchase value

Immediate upon authorization

 

  1. Foreign Transactions

If a Company Cardholder obtains their funds (or makes a purchase) in a currency other than U.S. dollars, the amount deducted from their funds will be converted by the Discover Card Association into U.S. dollars. The Discover Card Association will establish a currency conversion rate for this convenience using a rate selected by the Discover Card Association from the range of rates available in wholesale currency markets for the applicable central processing date which may vary from the rate the Discover Card Association itself receives, or the government-mandated rate in effect for the applicable central processing date, in each instance. Fees may apply for foreign transactions (See “24.1 Fees Matrix” above)

  1. Change in Terms

We may (a) amend or change the terms and conditions of this Agreement or (b) cancel or suspend any PreLoad Account or this Agreement at any time without prior notice to you, except as required by applicable law. We may revise this Agreement at any time without notification or consent of any Company Cardholder. Any future revisions will be binding upon Company and all Company Cardholders and effective immediately upon posting the revised Agreement on the Website. Continued use of any Company Card(s) and PreLoad Account constitutes your consent and acceptance of any revisions to the Agreement. If you do not accept an amendment or revision made to this Agreement, your sole and exclusive remedy is for the PreLoad Account Administrator or any Company’s Trusted Agent(s) to cancel all Company Card(s) and close your PreLoad Account with us. You may also login to the Authorized Service Provider Website, https://lowespreload.com/, for the most up-to-date Agreement.

  1. Cancellation and Suspension

We reserve the right, in our sole discretion, to limit your use of the PreLoad Account. We may refuse to issue a Company Card or may revoke PreLoad Account privileges with or without cause or notice other than as required by applicable law. The PreLoad Account Administrator or any of the Company’s Trusted Agent(s) may cancel any Company Card by calling the Authorized Service Provider at 1 (855) 515-5214 or by logging into your PreLoad Account via the Website https://lowespreload.com/. You agree not to use or allow others to use an expired, revoked, cancelled, suspended or otherwise invalid Company Card. Our cancellation of PreLoad Account privileges will not otherwise affect your rights and obligations under this Agreement. If we cancel or suspend PreLoad Account privileges through no fault of yours, Company will be entitled to a refund of any remaining balance, as provided in this Agreement.

*Non-administrators: Please skip to section 31.0

  1. Information Given to Third Parties

We may disclose information (including personally identifiable information) to third parties about any PreLoad Account Administrator, Trusted Agent(s), Company Beneficial Owners, and Company Cardholder: (i) where it is necessary or helpful for completing a transaction; (ii) in order to verify the existence and condition of a Company Card for a third party (e.g., a merchant); (iii) in order to comply with any law or to comply with requirements of any government agency or court order; (iv) if you give us your written consent; (v) to service providers who administer your PreLoad Account or any Company Card or perform data processing, records management, collections, and other similar services for us, in order that they may perform those services; (vi) in order to prevent, investigate or report possible illegal activity; (vii) in order to issue authorizations for transactions on a Company Card; and (viii) as otherwise permitted by law.

  1. No Warranty of Availability or Uninterrupted Use

From time to time, services related to the Lowe’s PreLoad Account may be inoperative. When this happens, the Company Cardholder(s) may be unable to use their Company Card or obtain information about their PreLoad Account. Please notify us if any Company Cardholder has any problems using their Company Card. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures. Nor shall we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labor disputes and armed conflicts.

  1. Disclaimer of Warranties

EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT, WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, AND HEREBY EXPRESSLY

DISCLAIM ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, REGARDING THE CARD(S) OR CARD ACCOUNT, OR RELATING TO OR ARISING OUT OF THIS AGREEMENT AND THE SERVICES CONTEMPLATED HEREIN, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

  1. Limitation of Liability

We shall have no liability to you if we are unable to complete a transaction for any reason beyond our control. In no event shall we be liable to you for any indirect, consequential, exemplary or special damages (whether in contract, tort or otherwise), even if you have advised us of the possibility of such damages. This provision shall not be effective to the extent prohibited by law.

  1. Questions

The Authorized Card Servicer, as the third party that administers the Lowe’s PreLoad Discover Card program, is responsible for customer service and for resolving any errors in transactions made with the PreLoad Account. If you have questions regarding the Company Card, you may call 1-855-515-5214 or write Prepaid Technologies, Inc. – Customer Service, 217 Country Club Park #113, Mountain Brook, Alabama 35213-4237, or visit our Website,  https://lowespreload.com/.

  1. Communications

We may contact you from time to time regarding your PreLoad Account. We may contact you in any manner we choose unless the law says that we cannot. For example, we may:

(1) contact you by electronic communications;

(2) contact you by mail, telephone, email, fax, recorded message, text message or personal visit; (3) contact you by using an automated dialing or similar device (“Autodialer”);

(4) contact you at your home and at your place of employment;

(5) contact you on your mobile telephone;

(6) contact you at any time, including weekends and holidays;

(7) contact you with any frequency;

(8) leave prerecorded and other messages on your answering machine/service and with others; and identify ourselves, your relationship with us and our purpose for contacting you even if others might hear or read it.

Our contacts with you about your PreLoad Account are not unsolicited and might result from information we obtain from you or others. We may monitor or record any conversation or other communication with you. Unless the law says we cannot, we may suppress caller ID and similar services when contacting you regarding your PreLoad Account. When you give us your mobile telephone number, we may contact you at this number using an autodialer and can also leave prerecorded and other messages.

If you ask us to discuss your PreLoad Account with someone else, you must provide us with authorizing documents that we ask for and that are acceptable to us.

  1. Notification of Changes

If your U.S. mail or postal address, email address or telephone number changes you must notify us immediately. Failure to do so may result in information regarding the PreLoad Account being delivered to the wrong person or Company Card transactions being declined. In such event, we shall not be responsible for any resulting misuse of funds available on any Company Card. Company must notify us immediately in the event of the insolvency, receivership, conservatorship, bankruptcy or reorganization of Company or change in principal owners. Company must also notify us immediately in the event of the insolvency or bankruptcy of any guarantor of the PreLoad Account. Company Card(s) and PreLoad Account may be terminated by us in the event a change of control, reorganization, restructuring, conversion, consolidation, division or merger of Company. We may require at our discretion that any new owner or principal of the Company to be a guarantor of the PreLoad Account. Any notice given by us shall be deemed given to you if delivered to you at the last email or mailing address for the PreLoad Account furnished by you. You agree that we may accept changes of address from the U.S. Postal Service. You also agree that if you attempt to change your address to a non-U.S. address, your PreLoad Account may be cancelled, and funds returned to you in accordance with this Agreement. We reserve the right to request copies of certain information that will allow us to confirm the identify of Company, PreLoad Account Administrator and Trusted Agent(s). Information may include, but is not limited to; address, corporate organizational documents and certificates, and federal employer identification number (EIN). Personal information which may be collected from Company’s principal owners, representatives authorized to act on behalf of Company, and Company Cardholders includes, but is not limited to; name, address, phone number, date of birth, social security number or individual taxpayer identification number (ITIN), driver’s license and/or passport.

  1. Governing Law, Court Proceedings, Damages, Arbitration

Except as set forth in the Waiver of Jury Trial and Arbitration Agreement below, (1) this Agreement will be governed by, construed and enforced in accordance with federal law and the laws of the State of Minnesota; (ii) any action or proceeding with respect to this Agreement or any services hereunder shall be brought only before a federal or state court in the State of Minnesota; and (iii) you agree to pay upon demand all of our costs and expenses, including attorney fees, incurred in connection with the enforcement of this Agreement. If we are served garnishments, summonses, subpoenas, orders or legal processes of any type, we are entitled to rely on the representations therein and may comply with them in our own discretion without regard to jurisdiction. We may charge you the costs of compliance, including reasonable attorney fees, with all such requests if permitted by applicable law.

PLEASE READ THIS PROVISION OF THE AGREEMENT CAREFULLY. UNLESS WE EXERCISE OUR 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 TRIAL, TO ENGAGE IN DISCOVERY (EXCEPT AS MAY BE PROVIDED FOR IN THE ARBITRATION RULES), AND TO PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS OF CLAIMANTS OR IN ANY CONSOLIDATED ARBITRATION PROCEEDING OR AS A PRIVATE ATTORNEY GENERAL. OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO BE UNAVAILABLE IN ARBITRATION.

  1. Agreement to Arbitrate

You and we (defined below), agree that any Dispute (defined below) will be resolved by Arbitration, unless we elect to opt out of Arbitration by filing an initial action in any court of competent jurisdiction. This agreement to arbitrate is governed by the Federal Arbitration Act, 9 U.S.C. § 1 et seq., and the substantive law of the State of Minnesota (without applying its choice-of-law rules).

  1. What Is Arbitration?

Arbitration” is a means of having an independent third party resolve a Dispute. A “Dispute” is any claim or controversy of any kind 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 your application for a PreLoad Account and whether or not a PreLoad Account is provided to you, based on any legal or equitable theory (contract, tort, 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 a federal or state constitution, statute, ordinance, regulation, or common law, and 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 PreLoad Account Administrator, Trusted Agent(s), and Company Cardholders and also your heirs, guardian, personal representative, or trustee in bankruptcy. The terms “we,” “our,” and “us” mean the Bank and include employees, officers, directors, members, managers, attorneys, affiliated companies, predecessors, and assigns the Bank as well as the marketing, servicing, and collection representatives and agents of either or both.

  1. How Arbitration Works

If a Dispute arises, the party asserting the claim or demand must initiate arbitration, provided you or we may first try to resolve the matter informally or through customary business methods, including collection activity. The party filing an arbitration complaint must choose either of the following arbitration firms for initiating and pursuing arbitration: The American Arbitration Association (“AAA”) or JAMS, The Resolution Experts. If the parties mutually agree, a private party, such as a retired judge, may serve as the arbitrator. If you claim you have a Dispute with us, but do not initiate arbitration or select an arbitrator, we may do so. You may obtain copies of the current rules of each of the arbitration firms and forms and instructions for initiating arbitration by contacting them as follows:

American Arbitration Association

1633 Broadway, 10th Floor

New York, NY 10019

Web site: www.adr.org

Telephone (800) 778-7879

JAMS, The Resolution Experts

1920 Main Street, Suite 300

Irvine, CA 92614

Web site: www.jamsadr.com

Telephone (949) 224-1810 or (800) 352-5267

In the event both AAA and JAMS are unavailable to decide a Dispute, the parties agree to select another neutral party experienced in financial matters to decide the Dispute. If such an independent arbitrator cannot be found, the parties agree to submit any Dispute to a state or federal judge, sitting without a jury, for resolution on an individual and not a class- wide basis.

The policies and procedures of the selected arbitration firm will apply provided such policies and procedures 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 arbitration agreement will apply.

  1. Arbitration Costs

The parties must pay their respective filing fees and other costs or fees of arbitration.

  1. Location of Arbitration

The arbitration will be conducted in the county where you reside unless we elect, in our sole discretion, for the arbitration to be conducted in Birmingham, AL or Atlanta, GA. We must notify you within ten

(10) business days of a notice of arbitration if we choose to conduct the arbitration in a location other than the county where you reside. We and you may also mutually agree to a different location for the arbitration.

  1. 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. You and we agree that the arbitrator has no authority to conduct class-wide arbitration proceedings and is only authorized to resolve the individual Disputes between you and us. The validity, effect, and enforceability of this waiver of class action lawsuit and class-wide arbitration, if challenged, are to be determined solely by a court of competent jurisdiction and not by the AAA, JAMS, or any other arbitrator. If such court refuses to enforce the waiver of class-wide arbitration, the Dispute will proceed in court and be decided by a judge, sitting without a jury, according to applicable court rules and procedures, and not as a class action lawsuit. The arbitrator has the ability to award all remedies available by statute, at law, or in equity to the prevailing party.

  1. Applicable Law and Review of Arbitrator’s Award

The arbitrator shall apply applicable federal and Minnesota 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 shall make written findings and the arbitrator’s award may be filed with any court having jurisdiction. The arbitration award shall be supported by substantial evidence and must be consistent with this Agreement and with applicable law, and if it is not, it may be set aside by a court. The arbitration award shall be binding unless grounds exist under the Federal Arbitration Act for vacating, modifying, or correcting an award.

  1. Survival

This arbitration provision shall survive: (1) cancellation, payment, charge-off, or assignment of this Agreement; (2) the bankruptcy of any party; and (3) any transfer, sale, or assignment of this Agreement, or any amounts owed under this Agreement, to any other person or entity. If any portion of this arbitration provision is deemed invalid or unenforceable under any principle or provision of law or equity, consistent with the FAA, it shall not invalidate the remaining portions of this arbitration provision, the Agreement or any prior agreements you may have had with us, each of which shall be enforceable regardless of such invalidity.

  1. Attorney Fees and Costs

You agree to pay all costs incurred by us or 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 attorney's fees incurred in appellate, bankruptcy, and post- judgment proceedings, except to the extent such costs, fees, or expenses are prohibited by applicable law.

  1. Assignability

We may assign or transfer our rights and obligations under this Agreement at any time without prior notice to you. The PreLoad Account and your obligations under this Agreement may not be assigned by you. Notwithstanding the foregoing, this Agreement shall be binding on you and your heirs, your executors, administrators, guardians, personal representatives, or trustee in bankruptcy.

  1. Miscellaneous Provisions

When any provision in this Agreement states that we may take certain actions, we may do so in

our sole discretion. We do not waive our rights by delaying or failing to execute them at any time. To the extent permitted by law and as permitted by the Waiver of Jury Trial and Arbitration above, the Company, or any of the Company’s Trusted Agent(s), agree to be liable to us for any loss, costs, or expenses that we may incur as a result of any dispute or legal proceeding involving the Lowe’s PreLoad Account. If a court finds any provision of this Agreement invalid or unenforceable, such finding shall not make the rest of this Agreement invalid or unenforceable. To the fullest extent possible, any such provision shall be deemed to be modified so as to be rendered enforceable or valid; however, if such provision cannot be so modified, it shall be stricken and all other provisions of this Agreement in all other respects shall remain valid and enforceable.

Customer Service: For all customer service information regarding the Lowe’s PreLoad Account, please contact: 1 (855) 515-5214 or Prepaid Technologies, Inc. – Customer Service, 217 Country Club Park #113, Mountain Brook, Alabama 35213-4237.

This Agreement is effective April 2020.