Debit Card Rewards Terms of ServiceThese Debit Card Rewards Terms of Service ("Agreement") outline the rules and conditions governing the rewards program ("Program") associated with the use of the Every Debit Card ("Card") sponsored by Every, Inc. ("Sponsor"). By participating in the Program, you ("Cardholder") agree to the terms and conditions set forth herein.
1. Rewards Points Structure:
1.1 Cardholders will earn rewards points based on their daily checking account balance and how much they spend on their Card each day. Points will be calculated daily and tallied for the entire month based on the checking account balance at the end of each day and their Card purchases made during that day, as follows:
▪ .5 point for every $1 in Card purchases if the checking account balance is under $250,000.
▪ 1 points for every $1 in Card purchases if the checking account balance is between $250,000 and $1,000,000.
▪ 2 points for every $1 in Card purchases if the checking account balance is over $1,000,000.
2. Conversion of Points to Dollars:
2.1 Rewards points can be converted into dollars at a rate of 100 points to $1. Cardholders can request the conversion of their rewards points to dollars, and the equivalent dollar amount will be credited to the checking account they have designated.
3.1 Participation in the Program is available to Cardholders with a valid Debit Card and a checking account.
3.2 To be eligible for rewards points, the Cardholder's checking account must remain open and in good standing.
4. Calculation and Crediting of Rewards Points:
4.1 Rewards points are calculated daily based on the Cardholder's daily checking account balance and Card purchases made during that day. The daily points are tallied to determine the total points for the month, rounded to the nearest point.
4.2 Rewards points will be credited to the Cardholder's rewards account on the 5th of the following month following the calculation.
4.3 Rewards points can be converted to dollars as outlined in Section 2, with the conversion process taking up to 5 business days to complete.
5. Program Changes and Termination:
5.1 The Sponsor reserves the right to modify, suspend, or terminate the Program, or any aspect thereof, at any time and without prior notice to Cardholders.
5.2 In the event of Program termination, Cardholders will be given a reasonable period to redeem any remaining rewards points.
6. Account Verification:
6.1 The Sponsor reserves the right to verify the Cardholder's checking account balance through its internal records and systems.
6.2 Any discrepancies in checking account balance between the Cardholder's records and the Sponsor's records will be resolved in accordance with the Sponsor's policies.
7. Account Responsibility:
7.1 Cardholders are solely responsible for maintaining the accuracy of their checking account balance information.
7.2 The Sponsor shall not be liable for any inaccuracies in checking account balance reported by the Cardholder.
8. Fraud and Misuse:
8.1 Any fraudulent activity, misuse of the Card, or attempts to manipulate checking account balances for the purpose of earning higher rewards may result in the immediate termination of the Cardholder's participation in the Program and possible legal action.
9. Governing Law:
9.1 This Agreement shall be governed by and construed in accordance with the laws of the jurisdiction where the Sponsor is headquartered.
By using the [Debit Card Name], the Cardholder acknowledges that they have read and understood the terms of this Agreement and agree to be bound by its conditions. The Sponsor reserves the right to amend this Agreement at any time, with or without prior notice to Cardholders. It is the Cardholder's responsibility to review this Agreement periodically for updates and changes.
If you have any questions or concerns regarding this Agreement or the Program, please contact the Sponsor's customer service.