Updated: March 9th, 2020

Teampay Terms of Service

Commercial Cash Back Program

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Cash Back Service Addendum to Teampay Terms of Service

Important Information

We offer the ability for you to earn cash back rebates (“Cash Back”) on purchases of products and services completed using your Teampay Cards (“Cash Back Program”). Participation in this Cash Back Program and the opportunity to earn Cash Back are offered at the sole discretion of Teampay and subject to your compliance with this MSA. Teampay reserves the right to make changes to the Cash Back Program at any time, including through supplementing this Cash Back Addendum (“Addendum”) with conditions, disclosures, and agreements that will be considered part of this Addendum. Additionally, Teampay may, at its discretion, temporarily prohibit you from earning Cash Back, using Cash Back you’ve already earned, or using any features of the Cash Back Program.

Notice of Changes

Teampay will provide you with notice if there is a change to the rate at which you earn Cash Back, if Teampay limits the amount of Cash Back you can earn, or if Teampay cancels the Cash Back Rewards Program. Teampay will send this notice to you in writing, which, at Teampay’s option, may be delivered to you electronically by email or through Teampay’s website or application.

Any other changes to the Cash Back Program will be effective when we post an updated copy of the Cash Back Addendum to Teampay’s website. You understand and agree that Teampay can make these changes at any time.

How You Can Earn Cash Back; Exceptions

You’ll earn Cash Back when you, or a Purchaser, use your Teampay Cards to make qualifying purchases of products and services, minus chargebacks or refunds (collectively, the “purchases”). Buying products and services with your Teampay Cards, in most cases, will count as a purchase; however, the following types of transactions won’t count and won’t earn Cash Back.

• Cash transactions (e.g. ATM access);
• Travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions;
• Lottery tickets, casino gaming chips, race track wagers or similar betting transactions;
• Any checks that access your account;
• Interest;
• Unauthorized or fraudulent charges; and
• Fees of any kind, including an annual fee, if applicable.

In order to be eligible to receive Cash Back, you must meet or exceed the minimum monthly spend threshold of aggregate qualifying purchases on all your Teampay Cards set forth on the Order Form.

Your Cash Back rewards will be credited to the Issuing Bank account associated with your Teampay Cards (the “Card Account”) on a monthly basis no later than the end of the calendar month following the month in which the qualifying transaction occurred.  The minimum amount you must accrue before we will distribute Cash Back to you is $25.00. Balances below this threshold will be withheld for potential payment during the next payment period.

What You’ll Earn

Assuming you have met the minimum spend threshold outlined above, you will earn Cash Back on qualifying purchases according to spend volumes set forth in the Order Form. Tiered Cash Back rewards are progressive – you earn the indicated percentage of Cash Back only for the amount of qualifying purchases for that particular tier.

On occasion, Teampay may offer you ways to earn bonus Cash Back through special promotions. You’ll find out more about such special promotions at the time of the offer. The additional terms represented by these special promotions will be considered to be part of this Addendum.

Prohibitions

Teampay may prohibit you from earning Cash Back or set off against Cash Back you’ve already earned that has not yet been transferred to your Card Account if:

• You don’t pay the fees due on your Teampay account within 30 days of the due date;
• Your Card Account balance, or the balance on any Teampay Card is negative;
• A purchase is charged back, refunded, disputed or otherwise reversed.
• Teampay suspects that you’ve engaged in fraudulent activity related to your account or the Cash Back Program; or
• If Teampay suspects that you’ve misused the Cash Back Program in any way.

We may also debit your Card Account or any other bank account that you have on file with us to recover Cash Back amounts already paid to you for any of the reasons described above.  You can begin earning and using Cash Back again in the next billing cycle after your Teampay account and Card Account become current or when Teampay no longer suspects fraud or misuse.

‍How You Could Lose Your Cash Back; Fees

Your accrued Cash Back does not expire as long as your Card Account and Teampay account are both open; however, you’ll immediately lose any Cash Back that has been accrued but not yet transferred to your Card Account if your account status changes, or your account is closed, for any of the following reasons:

• You don’t pay the fees due on your Teampay account within 30 days of the due date;
• You fail to comply with this Addendum or the MSA;
• Teampay believes you may be unwilling or unable to pay your debts on time;
• You file a petition as debtor in any bankruptcy, receivership, reorganization, liquidation, dissolution, or insolvency proceeding, or are the subject of an involuntary petition in any such proceeding;
• Teampay believes that you’ve engaged in fraudulent activity related to your Teampay account or the Cash Back Program; or
• Teampay believes that you’ve misused your Teampay account, the Teampay Cards or the Cash Back Program in any way.

We may also debit your Card Account or any other bank account that you have on file with us to recover Cash Back amounts already paid to you for any of the reasons described above.

If your Card Account is inactive for six (6) months or more, meaning you have not accrued enough Cash Back to be entitled to a distribution to your Card Account, we may deactivate the Cash Back Program with respect to your Card Account. If we do so, we will charge your Teampay account an administrative fee equal to the amount of undistributed Cash Back you have accrued through the date of deactivation. You will not earn Cash Back during any period in which the Cash Back Program has been deactivated. You must contact Teampay customer service in order to reactivate the Cash Back Program; however any fees already charged are nonrefundable.

If your Card Account or Teampay account is closed for any other reason or we cancel the Cash Back Program, we will pay out any accrued but undistributed Cash Back to you within thirty (30) days following the end of the month during which your account was closed.

Other Important Information‍

You can’t transfer or move accrued but undistributed Cash Back unless expressly provided for in this Addendum or the MSA. Additionally, such Cash Back can’t be transferred by operation of law, such as in bankruptcy.

Your participation in the Cash Back Program may result in the receipt of taxable income from Teampay and we may be required to send to you, and file with the IRS (or applicable state taxing authorities), a Form 1099-MISC (miscellaneous income). You are responsible for any tax liability and for complying with any tax return or other reporting requirements related to participating in the program. Please consult your tax advisor if you have any questions about the tax implications of participating in the program.