For users with an approved Venmo business profile, please note that you are not allowed to link a Venmo debit card to a business profile and funds from your business profile cannot be used as a funding source for Venmo Mastercard transactions. The fees for receiving, withdrawing and sending money can be found on the Fees page. If you use your credit card as a payment method to send money, your card issuer may also charge you a cash advance fee. Is there a fee for using the card? There are no fees when you use your Venmo debit card for your purchases. Fees associated with receiving cash with your Venmo debit card may apply if you use an ATM or an OTC withdrawal. If the Venmo credit card is used to send money through your Venmo account to another Venmo user, the transaction will be treated as a purchase in accordance with the terms of the Venmo credit card account agreement. However, such transactions will not be considered purchases under the terms of this User Agreement for any purpose, including but not limited to eligibility for the Venmo Purchase Program. When you make a purchase with your Venmo Mastercard debit card, the merchant authorizes your card for the initial amount of your purchase. This is called merchant authorization and allows the merchant to first ensure that your Venmo account is open and working. In addition, authorization ensures that you have sufficient funds in your Venmo balance to cover the transaction amount if top-ups are disabled or unavailable in your account. The transaction will appear as a pending charge in your transaction history until the merchant completes the transaction and saves the final amount.

We have no control over the products or services provided by sellers who accept Venmo as a payment method, and we cannot guarantee that any Venmo user or seller with whom you deal will complete or have the right to complete the transaction. We do not guarantee continuous, uninterrupted or secure access to any part of the Venmo Services, and the operation of our websites, software or systems (including the networks and servers used to provide the Venmo Services) operated by us or on our behalf may be affected by many factors beyond our control. We will use reasonable efforts to ensure that requests for direct debits and electronic credits with bank accounts, debit cards, credit cards and cheque issuances are processed in a timely manner, but we make no representations or warranties as to the time required to complete processing, as the Venmo Services depend on many factors beyond our control. such as delays in the banking system or in the U.S. or international postal service. Some states do not allow the exclusion of implied warranties, so the above exclusions may not apply to you. Applicable data protection laws include all regulations, regulatory requirements and related codes of conduct that apply to the provision of the Services described in this Agreement. If you have more than one Venmo Account, even if you have those accounts without our permission and in violation of this Agreement, we may set off amounts owed to us in a Venmo Account for money or money transferred to your other Venmo Accounts. If you continue to use your Venmo account while you owe us funds, you authorize us to combine the amounts owed to us with any debit or transaction sent from your account.

We offer accounts for two types of purposes: personal accounts and approved business accounts. You can only have one personal account. To create a personal account, you must be a resident of the United States or any of its territories, be at least 18 years of age or of legal age in your state of residence, and use a mobile/mobile phone number that you own. Your Venmo account is a personal account, unless you have received our express written permission to open a business account. In addition to this Agreement, Approved Business Accounts are also subject to the “Approved Business Account” addendum. As part of the Venmo Services, you may have the option to apply for a Venmo Mastercard™ (hereinafter referred to as the “Venmo Debit Card”) via a specific website or the Venmo App. The Venmo Debit Card is a debit card linked to your Venmo account, funded by your Venmo account balance, and can be used anywhere Mastercard is accepted in the United States. If you have the opportunity to apply for and apply for the Venmo debit card, you will be subject to Bancorp Bank`s approval criteria, which include successful identity verification. If you are unable to pass Bancorp Bank`s identity verification procedures, you will not be eligible to receive a Venmo debit card. In addition, you may be subject to separate identity verification by us and/or we may suspend or terminate your access to the Venmo Services and/or PayPal.

You agree that, except to the extent inconsistent or excluded by federal law and except as otherwise provided in this User Agreement, the laws of the State of New York, without regard to conflict of laws principles, will govern this User Agreement and any claim or dispute arising or likely to arise between you and PayPal with respect to your use of the Venmo Services. Modification and deletion. The terms of this Agreement may be revised by posting a revised version on www.venmo.com/legal/bancorp-cardholder-agreement. You will be notified of any changes in the manner provided for by applicable law prior to the effective date of the change. However, if the change is made for security reasons, the issuer or Venmo may implement the change without notice. The Issuer or Venmo may terminate or suspend the Card or this Agreement at any time. You may terminate this Agreement by returning the Card to the Issuer. Your termination of this Agreement will not affect the rights of the Issuer or Venmo or your obligations under this Agreement prior to termination. In the event that your card is terminated, closed or terminated for any reason, the remaining available balance associated with the card will be reset to your Venmo account balance. If you choose to dispute a transaction with us under the Venmo Purchase Program and we decide against you, you may try to pursue the dispute later with your card issuer. If we do not make a final decision on your claim until after your card issuer`s deadline to submit a dispute and you receive less than the total amount you would have been entitled to from the card issuer due to our delay, we will refund the remainder of your loss (less the amount you have already claimed from the seller or card issuer).

If we have reason to believe that you have violated this Agreement or the Acceptable Use Policy or the Content Standards. This Cardholder Agreement (“Agreement”) describes the terms and conditions under which the Venmo Mastercard (the “Card”) was issued to you by Bancorp Bank, Wilmington, Delaware (“The Bancorp Bank” or “Issuer”). The issuer is a member institution insured by the FDIC. This Agreement supplements, but does not replace, the Venmo User Agreement and other agreements between you and PayPal, Inc. (“PayPal”) that apply to your use of the products and services provided by Venmo, any PayPal services and any other Venmo features, technology and/or functionality offered by Venmo on its website, in the Venmo App or otherwise (“Venmo”). “Venmo Account” means your Venmo Account in which you hold or store a value from which you access the value for use via the Card and is the record maintained to account for the value of claims associated with the Card. You acknowledge and agree that the value that may be spent through the Card is limited to the available balance on your Venmo Account (see Section 4.3 (Automatic Top-Up for Purchases; Authorization) of this Agreement for details and definition of top-ups). Use of your Venmo Account will continue to be governed by the Venmo Terms of Use, as amended from time to time (available at venmo.com/legal/us-user-agreement/) (the “Venmo Terms of Use”) and the Venmo Privacy Policy, as updated from time to time (available under venmo.com/legal/us-privacy-policy/) (the “Venmo Privacy Policy”) and any other agreements between you and PayPal that applies to your use of Venmo. This Agreement is provided to you in electronic form in accordance with the consent to receive electronic disclosures (venmo.com/legal/us-consent/) that you have accepted and accepted when opening your Venmo Account. By accepting and using the Card, you agree to be bound by the terms of this Agreement.

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