Stuypend Terms of Service and User Agreement
This User Agreement ("Agreement")
is a contract between you and Stuypend, Inc. ("Stuypend") and
applies to your use of Stuypend® products and services and any other Stuypend®
features, technologies, and/or functionalities offered by Stuypend on
our website or through any other means (the "Stuypend Services").
The Stuypend Services are provided to you subject to this Agreement
as well as our Privacy Policy ("Privacy
Policy") which is available at www.stuypend.com/privacy-policy and
is incorporated in this Agreement by this reference.
A. THIRD PARTY AGREEMENTS
You acknowledge and agree that this Agreement
is between you and Stuypend, not with any third party (including, but not
limited to, Apple®, Google®, or any mobile carrier), and that Stuypend is
solely responsible for the Stuypend Services. Your use of the Stuypend Services
may be subject to separate agreements you may enter into with your mobile
device operating system provider (e.g., Apple, Google, Microsoft®, Canonical®,
Cyanogen®), your mobile device manufacturer (e.g., Apple, Samsung®, HTC®, or
LG®), your mobile service carrier (e.g., AT&T®, Verizon®, T-Mobile®, or
Sprint®), and other parties involved in providing your mobile device service.
Third party operating system providers such as Apple, Google, and Microsoft,
your phone or other mobile device manufacturer, your wireless carrier or other
network provider, any other product or service provider related to your mobile
device service are collectively referred to as "Covered Third Parties."
You agree to comply with all applicable third party terms of agreement when
using the Stuypend Services. Stuypend is not a party to
those agreements and has no responsibility for the products and services
provided by third parties.
B. STUYPEND SERVICE TERMS
1. Terms for Stuypend Services
The Stuypend Services allow you to
initiate payments via mobile device to merchants, in-store, for small retail
purchases. Merchants can use Stuypend to accept payments from customers
purchasing items in their store. Customers may use the Stuypend Services
on their mobile device to initiate a payment to a merchant, and merchants may
accept Stuypend payments through the Stuypend mobile app.
Transfers initiated with Stuypend are
processed by Dwolla, Inc. through their financial institution
partner(s) on the Automated Clearing House ("ACH") network of NACHA
("NACHA"). Stuypend has no responsibility for the actions
of your transfer recipient or for the subject of the transfer. We do not
guarantee the identity of any user of the Stuypend Services or that a
sender or a recipient can or will complete a transaction.
a. Eligibility
and Account Registration
To
be eligible to use the Stuypend Services, you must be a resident of
the United States, be 18 years or older, use the Stuypend Services in
the United States, and create a Stuypend account with the required
information. As further detailed in our Privacy
Policy, in order to register, create and use an account, Stuypend may
require that you submit certain Personal Information (as defined in the Privacy
Policy), including but not limited to your name, email address, text-enabled cellular/wireless
telephone number, street address or zip code, date of birth, and social
security number to Stuypend. During the registration process, or when you
access the Stuypend Services from a phone, your phone's device ID is
also stored. You agree that the Personal Information you provide to Stuypend upon
registration and at all other times will be true, accurate, current and
complete, and you agree to maintain and update this Personal Information with
us as necessary.
When
you create an account to use Stuypend’s functionality you will open
an "Access API" account provided by our ACH technology
provider, Dwolla, Inc. ("Dwolla"), and accept the Dwolla Terms of
Service and Privacy Policy. You authorize Stuypend to
share your identity and account data with Dwolla for the purposes of
opening and supporting your Dwolla account, and you are responsible
for the accuracy and completeness of that data. You understand that you will
access and manage your Dwolla account through the Stuypend application,
and Dwolla account notifications will be sent by Stuypend,
not Dwolla. Stuypend will provide customer support for your Dwolla account
activity, and can be reached at support@stuypend.com.
b. Types of
Accounts
We
offer two different types of accounts, Customer and Merchant accounts. You may
have no more than one of each account type. Customer accounts are used to
initiate payments in-store to Merchant users for small retail purchases. Some
features of Customer accounts may be limited based on how you wish to use
the Stuypend Services, how much you need to spend and what we know
about you. We may require that you provide more information in order to
complete a transaction. Customer accounts may not be used to receive business,
commercial or merchant transactions.
For
each business you are involved with, you may have only one Merchant account.
Merchant account use is limited. Merchant accounts must be authorized by Stuypend.
By opening a Merchant account and accepting the terms as outlined in this
Agreement, including, but not limited to, the Rules and Restrictions for
Merchant Accounts set forth below, you attest that neither you nor your
business is establishing a Merchant account primarily for personal, family or
household purposes. We may reverse or place a hold on your transactions or
place a reserve on your funds if you are in breach of this Agreement,
including, but not limited to, if you are using a Customer account for business
purposes or a Merchant account for personal, family or household purposes.
c. Identity
Authentication
You
hereby authorize Stuypend, directly or through third parties, to make any
inquiries we consider necessary to validate your identity and/or authenticate
your identity and account information and, for Merchant accounts, your company
or employer. This may include asking you for further information and/or
documentation about your account usage or identity, or requiring you to take
steps to confirm ownership of your email address, wireless/cellular telephone
number or financial instruments, and verifying your information against third party
databases or through other sources. This process is for internal verification
purposes.
d. Transaction
History
You
have the right to receive a list of recorded transactions initiated using Stuypend.
You may view this list of transactions by logging into your Stuypend account.
e. Initiating
Transfers
i. Payment Limits
We
may, at our discretion, impose limits on the amount of money you can send or
receive through the Stuypend Services. Please contact Stuypend support
for more details on limits. If we have authenticated your identity, we may
increase your sending and/or receiving limits. These limits may change from
time to time in Stuypend’s sole discretion. You may not send money to
your own account.
ii. Default Funding Sources
Stuypend transfers
are sourced exclusively from the bank account you connect to your Stuypend account
during sign-up. To use a different bank account as your funding source, you
must connect that account to your Stuypend account.
iii. Funding Source Limitations
In
order to manage risk, Stuypend may put various restrictions on the
funding source selected to fund any particular transaction.
Your
dispute resolution rights are determined by the funding source used to fund
your transaction.
iv. Bank Transfers
When
you initiate a payment using Stuypend, you are requesting that we initiate
on your behalf an electronic transfer from your bank account. For these
transactions, Stuypend will initiate electronic transfers (via the
Automated Clearing House ("ACH") network of NACHA, using the Dwolla API)
from your bank account in the amount you specify. You agree that such requests
constitute your authorization to Stuypend to initiate the ACH
transfer, and once you have provided your authorization for the transfer, you will
not be able to cancel the electronic transfer and Stuypend may
resubmit any ACH debit you authorized that is returned for insufficient or
uncollected funds, except as otherwise provided by NACHA's ACH rules
(collectively, the "ACH Rules"), or applicable law.
v. Refused and Refunded Transactions
You
agree that you will not hold Stuypend liable for any damages
resulting from a recipient's decision not to accept a payment made through
the Stuypend Services.
We
will return any unclaimed, refunded or denied payment within 30 days of the
date you initiate payment. If a payment is unclaimed, denied or refunded for
any reason, we will return the money to your balance or to the original funding
source.
viii. Fees for Sending Money
There
is no cost for Customer users to initiate payments to Merchant users via Stuypend.
Please contact Stuypend for more information on fees for Merchant
users. These fees may change from time to time in Stuypend’s sole
discretion. You may be subject to third party fees, such as insufficient
fund fees, reversal fees, or ACH insufficient fund fees that a bank may charge
if your payment is rejected.
f. Payment
Investigation
Payment
investigation is a process by which Stuypend reviews certain
potentially high-risk transactions. If a payment is subject to payment
investigation, Stuypend will place a hold on the payment and may
provide notice to the recipient. Stuypend will conduct a review and
either clear or cancel the payment. If the payment is cleared, Stuypend will
provide notice to the recipient. Otherwise, Stuypend will cancel the
payment and the funds will be returned. Stuypend will provide notice
to you by email and/or in the account history tab of your Stuypend account
if the payment is canceled.
g. Risk of
Reversals, Chargebacks and Claims
When
a Merchant user receives a payment, they are liable to Stuypend for
the full amount of the payment plus any fees if the payment is later
invalidated for any reason. This means that, in addition to any other
liability, Merchants will be responsible for the amount of the payment, plus
applicable fees if they lose a claim or a chargeback, or if there is a reversal
of the payment.
If
a sender of a payment later disputes the payment or files a claim for a
chargeback, the originating bank, not Stuypend, will determine whether the
dispute is valid and to whom payment is due. You agree to allow Stuypend to
recover any amounts due to Stuypend by debiting your account. If
there are insufficient funds in your balance to cover your liability, you agree
to reimburse Stuypend through other means. If Stuypend is unable
to recover the funds from your primary funding source, Stuypend may
attempt to contact you, and may take other legal actions to collect the amount
due, to the extent allowed by applicable law.
h. Account
Balances
i. Balances
Stuypend is
not a bank or other chartered depository institution. Stuypend does not
itself hold funds when initiating a transaction and therefore cannot use your
funds for its operating expenses or any other corporate purposes, and cannot
voluntarily make your funds available to its creditors in the event of
bankruptcy. Funds are held by the financial institution partner(s) of our ACH
technology provider Dwolla, Inc. Funds held
by Dwolla's financial institution partner(s) in connection with the
processing of transactions are not insured for the benefit of the user by the
Federal Deposit Insurance Corporation or any other governmental agency.
While
your funds are in the custody of Dwolla’s financial institution
partner(s) your funds will be combined with the funds of other users in
one or more pooled financial institution accounts.
Funds
held in balance are an ancillary function of enabling money transmission and
not for other benefit.
ii. Negative Balances
You
agree to allow Stuypend to recover any amounts due to Stuypend by
debiting your balance. If there are insufficient funds in your balance to cover
your liability, you agree to reimburse Stuypend through other means.
If Stuypend is unable to recover the funds from your primary funding
source, Stuypend may attempt to contact you, Stuypend may
recover the funds from your alternate funding sources, or may take other legal
actions to collect the amount due, to the extent allowed by applicable law.
iii. Security Interest
To
secure your performance of this Agreement, you hereby grant to Stuypend a
lien on and security interest in your account and agree to execute any further
documentation to perfect these company (Stuypend) rights.
i. Closing Your
Account
i. How to Close Your Account
As
long as there are no pending or in progress transactions, you may
close your account at any time. You may close your account by sending an email
to support@stuypend.com from
the verified email address you registered with Stuypend and request
we close your account.
ii. Limitations on Closing Your Account
You
may not close your account to evade a payment investigation. If you attempt to
close your account while we are conducting an investigation, we may hold your
funds for up to 180 days to protect Stuypend or a third party against
the risk of reversals, chargebacks, claims, fees, fines, penalties and other
liability. You will remain liable for all obligations related to your account
even after the account is closed.
j. Item Hold
Stuypend,
in its sole discretion, may place a hold on a payment you receive for a
transaction when Stuypend believes there may be a high level of risk
associated with the transaction. If Stuypend places a hold on your
payment, it will show as "pending" in your Stuypend account.
i. Release of Item Hold
Stuypend will
release the payment hold after 21 days unless we receive a dispute, claim,
chargeback, or reversal on the transaction subject to the hold. Stuypend may
release the hold earlier if the sender of funds provides us confirmation, Stuypend is
able to confirm proper delivery, or Stuypend otherwise completes its
investigation.
ii.
Additional hold period
If
you receive a dispute, claim, chargeback, or reversal on the transaction
subject to the item hold, Stuypend may hold the payment in your
account until the matter is resolved pursuant to this Agreement.
k.
Account Hold and Reserves
For
high volume accounts, including business accounts, Stuypend may, in
its sole discretion, place a reserve on funds held in your account when it
believes there may be a high level of risk associated with your account. If
your account is subject to a reserve, Stuypend will provide you with
notice specifying the terms of the reserve. The terms may require that a
certain percentage of the amounts received into your account are held for a
certain period of time, or that a certain amount of money is held in reserve,
or anything else that Stuypend determines is necessary to protect against
the risk associated with your account. Stuypend may change the terms
of the reserve at any time by providing you with notice of the new terms.
l.
Termination
Upon
termination of this Agreement for any reason, we have the right to prohibit
your access to the Stuypend Services, including without limitation by
deactivating your username and password, and to refuse future access to
the Stuypend Services by you or if a business entity, its parent,
affiliates or subsidiaries or its or their successors.
m.
Rules and Restrictions for Customer Accounts
The
following Rules and Restrictions for Customer accounts apply to your use of a
personal account under this Agreement.
i.
Initiating Payments
Stuypend may impose
limits on use of our app, including limits on initiating payments for security
and risk purposes. These limits may change from time to time in Stuypend's sole
discretion.
ii.
Error in Initiating a Payment
In
the event of an error, you give Stuypend permission, subject to Stuypend's compliance
with applicable law, to make appropriate corrections by debiting or crediting
your connected bank account as applicable.
iii Account
Errors
If
your account history shows transfers you did not make, follow the procedures
outlined in Section D.11 of this Agreement.
n.
Rules and Restrictions for Merchant Accounts
The
following Rules and Restrictions for Merchant Accounts apply to your use of a
Merchant account under this Agreement.
i.
Receiving Payments
Except
as may be otherwise provided by applicable law, there is no pre-set limit to
the amount of funds you can receive using the Stuypend Services.
These limits may change from time to time in Stuypend's sole
discretion and the requirements to lift those limits may vary based on product
usage.
ii.
Error in Receiving a Payment
In
the event of an error, you give Stuypend permission, subject to Stuypend’s compliance
with applicable law, to make appropriate corrections by debiting or crediting
your Stuypend balance, or debiting or crediting your primary or
alternate funding sources as applicable.
iii.
Credit Authorization
If
you open a Merchant account, you are providing us with written instructions and
authorization in accordance with the Fair Credit Reporting Act to obtain your
personal and/or business credit report from a credit bureau. You are also
authorizing us to obtain your personal and/or business credit report at any
time we reasonably believe there may be an increased level of risk associated
with your account. An increased level of risk includes, but is not limited to,
a high number of chargebacks or reversals, or suspicious activity associated
with your account.
iv.
Representations
If
you are a business entity, you represent that you are duly authorized to do
business in the United States; and your employees, officers, representatives,
and other agents accessing the Stuypend Services are duly authorized
to access the Stuypend Services and to legally bind you to this User
Agreement and all transactions conducted under your username and password.
v.
Authority of Officers and Employees
If
you are a business entity, you agree that all officers, employees, agents,
representatives and others having access to the username and/or password shall
be vested by you with the authority to use the Stuypend Services and
to legally bind you. You shall be responsible for all actions by current and
former officers, employees, agents, representatives and others, regardless of
whether authorized by you, that access the Stuypend Services using
your username and password. YOU ASSUME THE ENTIRE RISK FOR THE FRAUDULENT,
UNAUTHORIZED OR OTHERWISE IMPROPER USE OF YOUR PASSWORD. WE SHALL BE ENTITLED
TO RELY ON THE GENUINENESS AND AUTHORITY OF ALL INSTRUCTIONS RECEIVED BY US
WHEN ACCOMPANIED BY SUCH PASSWORD, AND TO ACT ON SUCH INSTRUCTIONS.
C. MOBILE APPLICATIONS
1. Third Party Operating System Providers,
Phone Manufacturers, and Wireless Carriers
The Stuypend mobile application
works on an application linked to a particular device and operating system,
such as Apple's iOS operating system. Stuypend is solely responsible for
providing maintenance and support services for the Stuypend Services.
Covered Third Parties have no obligation to provide maintenance or support
services for the Stuypend Services.
Covered Third Parties have no warranty
obligations whatsoever with respect to the Stuypend Services and any
other claims, losses, liabilities, damages, costs or expenses attributable to
any failure of the Stuypend Services to conform to any warranty
provided by Stuypend, if any, will be Stuypend's sole responsibility.
Stuypend, not any Covered Third Parties, is
responsible for addressing any claims relating to the Stuypend Services,
including, but not limited to: (i) product liability claims; (ii) any claim
that the Stuypend Services fail to conform to any applicable legal or
regulatory requirement; (iii) claims arising under consumer protection or
similar legislation; and (iv) intellectual property claims. Please
see the Contact Us section below for how to contact Stuypend.
If you are using the Stuypend Services
on an Apple device, you acknowledge and agree that Apple, and Apple's
subsidiaries, are third party beneficiaries of this Agreement, and that Apple
will have the right (and will be deemed to have accepted the right) to enforce
this Agreement against you as a third party beneficiary. Such rights may also
accrue to other handset manufacturers and operating systems which participate
in the Services.
2. Services via SMS or Mobile Data
If you use the Services on your mobile phone,
you are responsible for any fees that your phone service provider charges for
SMS, data services, etc. Your phone service provider is not the provider of
the Stuypend Services.
D. GENERAL TERMS AND CONDITIONS.
1. Notices to You
You agree that Stuypend may provide
notice to you by posting it on our website (including but not limited to
our Terms
of Service, Policy Updates, Licenses, Privacy
Policy, and Security Statement documents), or
if we have your email address or street address, by emailing it to the email
address listed in your account or mailing it to the street address listed in
your account. Such notice shall be considered to be received by you within 24
hours of the time it is posted to our website or emailed to you unless we
receive notice that the email was not delivered. If the notice is sent by mail,
we will consider it to have been received by you three Business Days after it
is sent. Stuypend's Business Days include all days on which the New York
Federal Reserve Bank is open for business. We may also provide notice when you
access the Stuypend Services.
You acknowledge and agree that we will provide
the notice to you in accordance with our Consent to Receive Electronic
Disclosure Policy. If you do not consent or at any time withdraw your
consent to receive electronic notices from us, we reserve the right to close
your accounts.
2. Business Days
“Business Days” means Monday through Friday,
excluding Holidays. “Holidays” means New Year's Day (January 1), Birthday of
Martin Luther King, Jr. (the third Monday in January), Washington's Birthday
(the third Monday in February), Memorial Day (the last Monday in May),
Independence Day (July 4), Labor Day (the first Monday in September), Columbus
Day (the second Monday in October), Veterans Day (November 11), Thanksgiving
Day (the fourth Thursday in November) and Christmas Day (December 25).If a
Holiday falls on a Saturday, Stuypend shall observe the Holiday on the
prior Friday. If the Holiday falls on a Sunday, Stuypend shall
observe the Holiday on the following Monday.
3. Notices to Stuypend
Notice
to Stuypend must be sent by postal mail to: Stuypend, Inc., Attention:
Jeffrey Silberman,
30 Rockefeller Plaza
22nd Floor
New
York, NY 10112-0015
4. Calls to You
By Providing Stuypend a telephone
number (including a wireless/cellular telephone), you consent to receiving
autodialed and prerecorded message calls from Stuypend at that number
should the need arise. However, we will never call you for promotional
purposes.
5. Stuypend Websites
The Stuypend’s company websites may
feature third party offers and enable product searches. Stuypend does
not warrant that product descriptions, pricing, search results, user ratings
and reviews or any other content on Stuypend websites is accurate,
complete, reliable or current. This information is provided for informational
purposes only and does not constitute an endorsement by Stuypend of
any product, service or vendor.
6. Intellectual Property
"Stuypend.com", "Stuypend",
and all related logos, products and services described in our website and
mobile applications are either trademarks or registered trademarks of Stuypend or
its licensors. You may not copy, imitate or use them without Stuypend's prior
written consent. In addition, all page headers, custom graphics, button icons,
and scripts are service marks, trademarks, and/or trade dress of Stuypend. You
may not copy, imitate, or use them without our prior written consent. You may
use HTML logos provided by Stuypend through our vendor services, SMS
tools, promotional tools or affiliate programs without prior written consent
for the purpose of directing web and SMS traffic to the service. You may not
alter, modify or change these HTML logos in any way, use them in a manner that
is disparaging to Stuypend or the Service or display them in any manner
that implies Stuypend's sponsorship or endorsement. All right, title
and interest in and to the Stuypend website and any content thereon
is the exclusive property of Stuypend and its licensors.
Certain other product or service names, brand
names and company names may be trademarks of their respective owners.
7. Taxes
It is your responsibility to determine what,
if any, taxes apply to the payments you make or receive, and it is your
responsibility to collect, report and remit the correct tax to the appropriate
tax authority. Stuypend is not responsible for determining whether
taxes apply to your transaction, or for collecting, reporting or remitting any
taxes arising from any transaction.
8. Privacy
Protecting your privacy is very important to
us. Please review our Privacy Policy in order to better
understand our commitment to maintaining your privacy, as well as our use and
disclosure of your information.
If you receive information about
another Stuypend user through the Stuypend Services, you
must keep the information confidential and only use it in connection with the
service. You may not disclose or distribute a Stuypend user's
information to a third party or use the information for marketing purposes
unless you receive the user's express consent to do so.
9. Children's Privacy
Protecting the privacy of young children is
especially important. For that reason, we do not knowingly collect or solicit
personal information from anyone under the age of 13 or knowingly allow anyone
under 18 to register for the Stuypend Services. If you are under 13,
please do not send any information about yourself to us, including your name,
address, telephone number, or email address. No one under age 13 is allowed to
provide any personal or payment information to us through the Stuypend Services.
If we learn that we have collected personal information from a child under age
13 without verification of parental consent, we will delete that information as
quickly as possible. If you believe that we might have any information from or
about a child under 13, please contact us at the information provided
below in the "Contact Us" section.
10. Loss or Theft of Account Information,
PIN, and Mobile Device
If you believe that any of your Stuypend account
registration information, PIN or mobile device containing the Stuypend App
has been lost or stolen, or if your account history shows transfers that you
did not make, immediately contact Stuypend by email to support@stuypend.com.
11. Resolution Procedures for Unauthorized
Transactions and Other Errors
a. Unauthorized
Transactions and Other Errors
i.
Unauthorized Transactions
Stuypend currently
does not offer protection or refunds for unauthorized transactions. To ensure
your protection from such loss and to minimize loss if such unauthorized
transactions occur, we strongly recommend you take ALL of the following steps
to protect your Stuypend account and funds:
1. Set
a PIN code or fingerprint lock on the Stuypend app
2. Set
a password, PIN code, or fingerprint lock on your mobile device
3. Set
a low daily purchase limit on payments with Stuypend (this limit can
be set and adjusted in the application’s settings)
4. Monitor
bank accounts, bank statements, alerts from your bank, and your Stuypend Transaction
History in the Stuypend app on a daily basis
ii.
Other Errors
“Other
Errors” occur when money is either incorrectly
credited to your account or incorrectly debited from your account, or when
transactions are incorrectly recorded in your account. Other Errors that are
covered by Stuypend are limited to the following events:
(i) if
you send a payment and we debit an incorrect amount from your account;
(ii) if
we credit an incorrect amount to your account;
(iii) if
a transaction is missing from or not properly identified in your account
statement; and
(iv) if there
is a computational or mathematical error by Stuypend.
Routine
inquiries about your balance or the status of a pending transfer into or out of
your account are not considered Unauthorized Transactions or Other Errors
unless you expressly notify us of an Unauthorized Transaction or Other Error in
connection with the transfer. Requests for information for tax or other
recordkeeping purposes and requests for duplicate documentation also are not
deemed to be Unauthorized Transactions or Other Errors. You may request
documentation or information regarding your account or transaction to determine
whether an Unauthorized Transaction or Other Error exists by contacting us
at support@stuypend.com.
iii. Notification Requirements
You
should immediately notify Stuypend if you believe:
i. There
has been an Unauthorized Transaction, unauthorized access to your account, or
the occurrence of an Other Error;
ii. There
is an error in your transaction history or your transaction confirmation sent
to you by email;
iii. Your
password has been compromised;
iv. Your Stuypend mobile-activated
phone has been lost, stolen or deactivated; or
v. You
need more information about a transaction listed in your transaction history or
transaction confirmation email.
To
rectify Other Errors from your account, you must notify us within 60 days after
any Other Error first appears in your account statement. If you do not tell us
within 60 days after the account statement was made available to you, you may
not get back any money you lost after the 60 days. If a good reason (such as a
long trip or a hospital stay) kept you from telling us, we will extend the time
periods.
You
should regularly log into your account and review your transaction history to
ensure that there has not been an Unauthorized Transaction or Other Error.
For
Unauthorized Transactions or Other Errors in your account, notify us as
follows:
1. By
emailing us at support@Stuypend.com
When
you notify us, provide us with all of the following information:
1. Your
name, and the email address registered to your account;
2. A
description of any suspected Unauthorized Transaction or Other Error and an
explanation of why you believe it is incorrect or why you need more information
to identify the transaction; and
3. The
dollar amount of any suspected Unauthorized Transaction or Other Error.
If
you notify us orally, we may require that you send us written confirmation
within 10 Business Days. During the course of our investigation, we may request
additional information from you.
b. Stuypend Actions
After Receipt of your Notification
Once
you notify us of any suspected Other Error, or we otherwise learn of one, we
will do the following:
1. We
will conduct an investigation to determine whether there has been an
Unauthorized Transaction or Other Error.
2. We
will complete our investigation within 10 Business Days of the date we received
your notification of the suspected Unauthorized Transaction or Other Error. If
your account is new (the first transaction from your account was less than 30
Business Days from the date you notify us), we may take up to 20 Business Days
to complete this investigation. If we need more time, we may take up to 45 days
to complete our investigation (or up to 90 days for new accounts).
We will inform you of our decision within 3
Business Days after completing our investigation. If we determine that there
was a qualifying Other Error, we will promptly credit the full
amount of the error into your account within 7 Business Day of our
determination. As a reminder,
Stuypend currently
does not offer protection or refunds for unauthorized transactions. However,
informing Stuypend as well as your bank about such unauthorized
transactions may help secure your accounts quickly.
If
we decide that there was not an Other Error, we will include an explanation of
our decision in our email or other communications to you. You may request
copies of the documents that we used in our investigation.
c. Processing
Errors
We
will rectify any processing error that we discover. If the error results in
your receipt of less than the correct amount to which you are entitled, Stuypend will
credit your account for the difference. If the error results in your receipt of
more than the correct amount to which you are entitled, Stuypend will
debit the extra funds from your account. If the error resulted in our not
completing a transaction on time or in the correct amount, we will be liable
for your losses or damages directly caused by this failure, unless: (a) through
no fault of ours, you did not have enough available funds to complete the
transaction, (b) our system was not working properly and you knew about the
breakdown when you started the transaction, or (c) circumstances beyond our
control (such as fire, flood or loss of Internet connection) prevented the
transaction, despite our reasonable precautions.
12. Restricted Activities
In connection with your use of our website,
your account, or the Stuypend Services, or in the course of your
interactions with Stuypend, a user or a third party, you will not:
- breach this Agreement,
the card processing Agreement, or any other Agreement that you have
entered into with Stuypend (including a policy);
- violate any law,
statute, ordinance, or regulation (for example, those governing financial
services, consumer protections, unfair competition, anti-discrimination or
false advertising);
- infringe Stuypend's or
any third party's copyright, patent, trademark, trade secret or other
intellectual property rights, or rights of publicity or privacy;
- act in a manner that is
defamatory, trade libelous, unlawfully threatening or unlawfully
harassing;
- provide false,
inaccurate or misleading Personal Information;
- create more than
one Stuypend account for yourself, through, among other
methods, using a name that is not yours, using temporary email address(es)
or phone number(s), or providing any other falsified Personal Information;
- send or receive what we
reasonably believe to be potentially fraudulent funds;
- refuse to cooperate in
an investigation or provide confirmation of your identity or any Personal
Information you provide to us;
- attempt to double dip
during the course of a dispute by receiving or attempting to receive funds
from both Stuypend and the recipient of funds, bank, or credit
card issuer for the same transaction;
- use an anonymizing
proxy;
- control an account that
is linked to another account that has engaged in any of these restricted
activities;
- control or possess more
than one account without authorization from Stuypend;
- conduct your business
or use the services in a manner that results in or may result in
complaints, disputes, claims, reversals, chargebacks, fees, fines,
penalties and other liability to Stuypend, a user, a third party or
you;
- use the Service to make
transactions for the purpose of earning rewards, perks, miles, points,
etc. with your credit card, debit card, or bank account;
- have a credit score
from a credit reporting agency that indicates a high level of risk
associated with your use of the services;
- use your account or the
services in a manner that Stuypend, Visa, MasterCard, American
Express or Discover reasonably believe to be an abuse of the credit card
system or a violation of credit card association rules;
- allow your Stuypend account
to have a negative balance; provide yourself a cash advance from your credit
card (or help others to do so);
- disclose or distribute
another Stuypend user's Personal Information to a third party,
or use the information for marketing purposes unless you receive the
user's express consent to do so;
- send unsolicited email
to a user or use the services to collect payments for sending, or
assisting in sending, unsolicited email to third parties;
- take any action that
imposes an unreasonable or disproportionately large load on our
infrastructure;
- facilitate any viruses,
Trojan horses, worms or other computer programming routines that may
damage, detrimentally interfere with, surreptitiously intercept or
expropriate any system, data or information;
- use any robot, spider,
other automatic device, or manual process to monitor or copy our website
without our prior written permission;
- use any device,
software or routine to bypass our robot exclusion headers, or interfere or
attempt to interfere, with our website or the services;
- take any action that
may cause us to lose any of the services from our internet service
providers, payment processors, or other suppliers;
- use the Stuypend Service
to test credit card behaviors.
-
13. Acceptable Use
You agree you will not use the Stuypend Services
to violate any law, statute, ordinance, or regulation relating to sales of:
- counterfeit goods;
- narcotics, steroids,
certain controlled substances or other products that present a risk to
consumer safety;
- drug paraphernalia;
- items that encourage, promote,
facilitate or instruct others to engage in illegal activity;
- items that promote
hate, violence, racial intolerance, or the financial exploitation of a
crime;
- items that are
considered obscene;
- items that infringe or
violate any copyright, trademark, right of publicity or privacy or any
other proprietary right under the laws of any jurisdiction;
- certain sexually
oriented materials or services;
- ammunition, firearms,
or certain firearm parts or accessories; or
- certain weapons or
knives regulated under applicable law;
Relating to transactions that:
- show the personal
information of third parties in violation of applicable law;
- support pyramid
or Ponzi schemes, matrix programs, other "get rich
quick" schemes or certain multi-level marketing programs;
- are associated with
purchases of annuities or lottery contracts, lay-away systems, off-shore
banking or transactions to finance or refinance debts funded by a credit
card;
- are for the sale of
certain items before the seller has control or possession of the item;
- are by payment
processors to collect payments on behalf of merchants;
- are associated with the
sale of traveler's checks or money orders;
- involve currency
exchanges or check cashing businesses or digital currencies such as
bitcoins;
- provide certain credit
repair or debt settlement services involving the sales of products or
services identified by government agencies to have a high likelihood of
being fraudulent;
- are otherwise related
to illegal activity, gambling, pornography, obscene material or otherwise
objectionable content or activities,;
Violating applicable laws or industry
regulations regarding the sale of:
- tobacco products;
- prescription drugs and
devices involve gambling, gaming and/or any other activity with an entry
fee and a prize, including, but not limited to casino games, sports
betting, horse or greyhound racing, lottery tickets, other ventures that
facilitate gambling, games of skill (whether or not it is legally defined
as a lottery) and sweepstakes unless the operator has obtained prior
approval from Stuypend and the operator and customers are
located exclusively in jurisdictions where such activities are permitted
by law; or
- provide certain
credit repair or debt settlement services involve the sales of products or
services identified by government agencies to have a high likelihood of
being fraudulent.
14. Legal Compliance
You are solely responsible for ensuring that
your use of the Stuypend Services is in conformance with applicable
federal, state and local laws and regulations. By using the Stuypend Services,
you warrant and represent that (i) you are not located in a country that is
subject to a U.S. Government embargo, or that has been designated by the U.S.
Government as a "terrorist supporting" country; and (ii) you are not
listed on any U.S. Government list of prohibited or restricted parties.
15. Your Liability - Actions We May Take
You are solely responsible for ensuring that
your use of the Stuypend Services is in conformance with applicable
federal, state and local laws and regulations. By using the Stuypend Services,
you warrant and represent that (i) you are not located in a country that is
subject to a U.S. Government embargo, or that has been designated by the U.S.
Government as a "terrorist supporting" country; and (ii) you are not
listed on any U.S. Government list of prohibited or restricted parties.
a. Your
Liability
You
are responsible for all reversals, chargebacks, claims, fees, fines, penalties
and other liability incurred by Stuypend, a Stuypend user, or a third
party caused by or arising out of your breach of this Agreement, and/or your
use of the Stuypend Services. You agree to reimburse Stuypend, a
user, or a third party for any and all such liability.
You
acknowledge that you are responsible for the accuracy of all payments sent
using the Stuypend Services, including but not limited to the
accuracy of the amount paid and the recipient. Stuypend shall not be
responsible or in any way held liable due to inaccurate payments, including but
not limited to sending an incorrect amount of money or sending money to an
incorrect recipient.
b. Actions
by Stuypend
If
we have reason to believe that you have engaged in any restricted activities,
made excessive or unexplainable transactions, violated any parts of this
Agreement or provided any incorrect information, we may take various actions to
protect Stuypend, another Stuypend user, a third party, or you from
reversals, chargebacks, claims, fees, fines, penalties and any other liability.
The actions we may take include but are not limited to the following:
· We
may close, suspend, or limit your access to your account or the Stuypend Services
(such as limiting access to any of your funding sources, and your ability to
send money, make withdrawals, or remove financial information);
· we
may contact users who have sent you money, contact your bank or credit card
issuer, and warn other users, law enforcement, or impacted third parties of
your actions;
· may
update inaccurate information you provided us;
· we
may refuse to provide our Stuypend Services to you in the future;
· we
may hold your funds for up to 180 days if reasonably needed to protect against
the risk of liability; and
· we may
take legal action against you.
Stuypend,
in its sole discretion, reserves the right to terminate this Agreement, access
to its website, or access to the Service for any reason and at any time upon
notice to you and payment to you of any unrestricted funds held in custody for
you.
16. Account Closure, Termination of Service,
or Limited Account Access
If we limit or close your account or
terminate your use of our Services for any reason, you may contact us and
request restoration of access if appropriate. However, if we deem you violated
this Agreement, restoration is at our sole discretion.
You may stop using the Stuypend Services
at any time or may close your accounts by contacting us. Stuypend, in its
sole discretion, reserves the right to terminate the Stuypend Services,
to terminate this Agreement, or to terminate your access to the Stuypend Services
for any reason and at any time. If we terminate or limit your use of our Stuypend Services
for any reason, we will use commercially reasonable efforts to provide you with
notice of our actions.
17. Policy Violation - User Fines
If Stuypend incurs any damages
because you violate our policies, break any laws, or otherwise cause Stuypend to
suffer any damages or incur any expenses then we may hold your funds up to 180
days, fine you for each such violation and take legal action against you to
recover additional losses, investigation costs, fines, or legal fees we may
incur. You acknowledge and agree that a fine of US $2,500.00 for violations of
our Agreement is presently a reasonable minimum estimate of Stuypend's damages,
considering all currently existing circumstances, including the relationship of
the sum to the range of harm to Stuypend that reasonably could be
anticipated and the anticipation that proof of actual damages may be
impractical or extremely difficult. Stuypend may deduct such fines
directly from any existing balance in the offending account, or any other Stuypend account
you control.
18. Disputes with Stuypend
a. Dispute
with Stuypend
If
a dispute arises between you and Stuypend, our goal is to learn about and
address your concerns and, if we are unable to do so to your satisfaction, to
provide you with a neutral and cost effective means of resolving the dispute
quickly. Disputes between you and Stuypend regarding our services may be
reported by emailing us at the following email address: support@stuypend.com
b. Law and Forum
for Disputes; Arbitration
This
User Agreement shall be governed in all respects by the laws of the State of
New York, without regard to conflict of law provisions, except to the extent
that federal law applies.
ANY
CLAIMS ARISING OUT OF, RELATING TO, OR CONNECTED WITH THIS USER AGREEMENT MUST
BE ASSERTED INDIVIDUALLY IN BINDING ARBITRATION CONDUCTED BY A SINGLE
ARBITRATOR WITH EXPERIENCE IN CONSUMER ONLINE PAYMENT SERVICES DISPUTES
ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION ("AAA") IN
ACCORDANCE WITH ITS COMMERCIAL ARBITRATION RULES AND THE AAA SUPPLEMENTARY
PROCEDURES FOR CONSUMER-RELATED DISPUTES. The forum for arbitration shall be in
the city closest to your residence having a federal district courthouse. The
arbitrator shall not conduct any form of class or collective arbitration nor
join or consolidate claims by or for individuals. To the extent allowed by
applicable law, the Arbitrator, and not any federal, state, or local court or
agency, shall have exclusive authority to resolve any dispute relating to the
interpretation, applicability, enforceability or formation of this User
Agreement including, but not limited to, any claim that all or any part of this
User Agreement is void or voidable. Judgment on the award rendered by the
arbitrator may be entered in any court of competent jurisdiction. For any
non-frivolous claim, Stuypend will pay the costs of the arbitration
(but not your attorney fees), up to $3,000.
This
User Agreement and each of its parts evidence a transaction involving
interstate commerce, and the United States Arbitration Act shall apply in all
cases and govern the interpretation and enforcement of the arbitration rules
and arbitration proceedings.
There
are only two exceptions to this agreement to arbitrate. First, if we reasonably
believe that you have in any manner violated or threatened to violate our
intellectual property rights, we may seek injunctive or other appropriate
relief in any court of competent jurisdiction. Second, any claim of $500 or
less may, at the option of the claiming party, be resolved in small claims
court in New York City, New York, if the claim and the parties are within the
jurisdiction of the small claims court. For these two exceptions, you agree to
submit to the personal jurisdiction of the courts located within New York City,
New York for the purpose of litigating such claims or disputes.
c. Waiver of
Right to Jury; Class Action Waiver
TO
THE EXTENT ALLOWED BY LAW, YOU AGREE TO IRREVOCABLY WAIVE ANY RIGHT YOU MAY
HAVE TO A TRIAL BY JURY OR OTHER COURT TRIAL (OTHER THAN SMALL CLAIMS COURT) OR
TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER
REPRESENTATIVE CAPACITY, OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS,
IN ANY LAWSUIT, ARBITRATION OR OTHER PROCEEDING FILED AGAINST US AND/OR RELATED
THIRD PARTIES.
19. Liability of Stuypend for
Failure to Complete Transfers
If Stuypend does not complete a
transfer to or from your account, or using your saved payment information, on
time or in the correct amount according to this Agreement, Stuypend will
be liable for your losses or damages to the extent required by law. Stuypend will
not be liable:
- If, through no fault
of Stuypend's, you do not have enough money in your connected bank
account, for reasons including but not limited to you exceeding your
balance or any applicable credit limit;
- the funds in your
account are subject to legal process or other encumbrance restricting
their use;
- If the Stuypend Services
were not working properly and you knew about the breakdown when you
started the transfer;
- If the failure results
from a failure of a financial institution that holds your account for any
reason other than due to Stuypend's fault;
- If you provided
inaccurate or incomplete information regarding the transfer;
- If the transfer appears
suspicious, fraudulent, or unauthorized, and Stuypend cannot
confirm that it is a legitimate transfer, or if the account of either user
involved in the transfer is under investigation by Stuypend or
if the transfer is or appears to be prohibited by any applicable law or
rules
20. Disclaimers of Warranty; Damages
Exclusions
Unless otherwise prohibited by law, you
assume all responsibility for your use of the Stuypend Services and
use them at your own risk. To the fullest extent permissible under applicable
law, all such representations, warranties, guarantees and conditions are
disclaimed, including, but not limited to, any implied warranties of
merchantability, fitness for a particular purpose, title, noninfringement of
intellectual property rights, or other terms which might otherwise be implied
by statute, common law or in equity. Stuypend does not warrant that
the services will be uninterrupted or error-free, that defects will be
corrected, or that the services, or the servers that process information for
the services, are free of viruses, bugs or other harmful components. On behalf
of Stuypend, Covered Third Parties, and each of our respective affiliates,
vendors, agents and suppliers, Stuypend makes the following
disclaimers set forth in this section: the services are provided on an "as
is", "as available" and "with all faults" basis,
without any representations, warranties, guarantees, or conditions of any kind,
express, implied or statutory, including, but not limited to, any warranty as
to the use or operation of the services, or the information, content or other
materials related to the services, whether provided by Stuypend or
any of the Covered Third Parties. Neither Stuypend nor any of the
Covered Third Parties warrant nor make any representations regarding the use or
the results of the services in terms of correctness, accuracy, timeliness,
reliability, or otherwise. You assume the entire cost of all necessary
maintenance, repair, or correction to any equipment you use in accessing any of
the services, including, but not limited to, your mobile phone or other device.
Stuypend IS NOT LIABLE FOR THE
CONSEQUENCES OF YOU CHOOSING TO SHARE ANY PAYMENT DETAILS ON SOCIAL MEDIA OR
WITHIN THE STUYPEND SERVICES, AND YOU AGREE TO HOLD Stuypend HARMLESS
AND INDEMNIFY Stuypend FROM ANY LIABILITY arising from the actions or
inactions of any external social media network in connection with the
permissions you grant to the external social media network.
Neither Stuypend, the Covered Third
Parties nor any of their respective affiliates, vendors, agents or suppliers
will be liable for, and you agree not to seek against any of the foregoing, any
damages of any kind arising from the use of the services, including, but not
limited to, indirect, special, incidental, punitive, exemplary, consequential
damages or damages resulting from the use of service, loss of use of the
service, lost data, lost profits, or business interruption arising out of or in
any way connected with the use of the services, any delays in the services, or
the inability to use the services, or any portion thereof, whether based on
contract, tort, negligence, strict liability or otherwise, even if all or any
of us have been advised of the possibility of such damages and even if any
remedy fails of its essential purpose.
Stuypend does not have any control over
any products or services that are paid for with our services and Stuypend cannot
ensure that any party you are dealing with will actually complete the
transaction or is authorized to do so.
Stuypend will make reasonable efforts to
ensure that requests for electronic debits and credits involving bank accounts
are processed in a timely manner but Stuypend makes no
representations or warranties regarding the amount of time needed to complete
processing because Stuypend is dependent upon many factors outside of our
control, such as delays in the banking system or the U.S. or international mail
service.
SOME STATES OR OTHER JURISDICTIONS DO NOT
ALLOW THE DISCLAIMER OF IMPLIED WARRANTIES OR THE EXCLUSION OF CERTAIN DAMAGES,
SO THE ABOVE DISCLAIMERS AND EXCLUSIONS MAY NOT APPLY TO YOU. YOU MAY ALSO HAVE
OTHER RIGHTS THAT VARY FROM STATE TO STATE AND JURISDICTION TO JURISDICTION.
21. Limitations on Liability
Except as otherwise EXPRESSLY provided in
this agreement, and to the extent permissible under applicable law, Stuypend's cumulative
liability to you for any claims or damages arising out of or related to your
use of the Stuypend Services shall not exceed the greater of the fee
you paid to Stuypend for the use of the Stuypend Services
or $1.00 USD.
These limitations on liability apply to:
anything related to a service or any application or content made available
through any such service; and claims for breach of contract, breach of
warranty, guarantee or condition, strict liability, negligence, or other tort
to the extent permitted by applicable law. These limitations on liability also
apply even if: repair, replacement or a refund for the service does not fully
compensate you for any losses; or Stuypend or a Covered Third Party
knew or should have known about the possibility of the damages.
These limitations on liability will apply to
the maximum extent permitted by applicable law, even if any remedy fails of its
essential purpose.
Some states or other jurisdictions do not
allow the limitation of liability so the foregoing limitations may not apply to
you. You may also have other rights that vary from state to state and
jurisdiction to jurisdiction.
22. License Grant
Certain of the Services require the use of
software and software applications provided to you by Stuypend (collectively
"Software"). Stuypend and its licensors grant you a limited,
nonexclusive license to use Stuypend's Software in the United States
that we provide to you solely in accordance with this Agreement and any user
documentation we may provide, including all updates, upgrades, new versions and
replacements of the Software (all of which become part of the
"Software") for your personal use only in accordance with this
Agreement. If the Software will be downloaded to a mobile device, this license
extends to your use of the Software on a device that you own or control, as
long as your use is permitted by the usage rules set forth for your particular
device (for example, the Apple App Store Terms of Use). You may not rent, lease
or otherwise transfer your rights in the Software to a third party. You must
comply with the implementation and use requirements for the Software contained
in this Agreement or in any Stuypend Services documentation we
provide to you. If you do not comply with such implementation and use
requirements, you will be liable for all resulting damages suffered by
you, Stuypend or any third parties. You agree not to alter,
reproduce, adapt, distribute, display, publish, reverse engineer, translate,
disassemble, decompile or otherwise attempt to create any source code which is
derived from the software. You acknowledge that all rights, title and interest
to Stuypend's software are owned by Stuypend. Your rights to use the
Software cease immediately upon termination of this Agreement and you must
delete all of your copies of the Software.
23. Indemnification
You agree to defend, indemnify and hold
harmless Stuypend and its parent, affiliates, officers, directors and
employees from any claim or demand (including any damages, losses, expenses
and attorney’s fees resulting therefrom) made or incurred by any
third party due to or arising out of your breach of this Agreement and/or your
use of the Stuypend Services.
24. Assumption of Rights
If Stuypend makes a payment to you
for a claim, reversal or chargeback that you file with us against a recipient
of your payment, you agree that Stuypend assumes your rights against
the recipient and third parties related to the payment, and may pursue those
rights directly or on your behalf, in Stuypend's discretion.
25. Release of Stuypend
If you have a dispute with one or more users
relating to payment, Stuypend is not responsible for any such dispute
and you hereby release Stuypend (and our officers, directors, agents,
joint ventures and employees) from any and all claims, demands and damages
(actual and consequential) of every kind and nature arising out of or in any
way connected with such disputes.
26. Modification of Terms
We may amend this Agreement at any time by
posting a revised version on our website. The revised version will be effective
at the time we post it unless it contains material changes. If we make changes
to our Agreements with you that either reduce your rights or increase your
responsibilities, we will provide 21 days’ notice to you before the
changes become effective. By using the Stuypend Services after a new
Agreement has been posted, you agree to the revised Agreement.
27. Survival
In the event of termination of this Agreement
or the Stuypend Services, the terms in this Agreement that by their
nature are continuing shall survive such termination, including but not limited
to the disclaimers and limitations of liabilities.
28. Force Majeure
We shall not be liable for any delay or
failure in the performance or in delivery or shipment of materials, or for any
damages suffered by you by reason of such delay or failures, directly or
indirectly caused by or in any manner arising from or connected with acts of
God, acts of public enemies, riots, strikes, acts of governmental agencies,
labor difficulties, failure of our power, telecommunications or other
suppliers, delays in securing or shortages of raw materials, breakdown or
destruction of any system or equipment, or any other cause or causes beyond our
control, whether or not similar to those enumerated herein.
29. Miscellaneous
This Agreement and other documents (including
but not limited to the Privacy Policy) referenced in or linked to this Agreement,
which are hereby incorporated herein and made a part of this Agreement by this
reference, contain yours and our entire Agreement regarding your use of
the Stuypend Services. If any provision of this Agreement is deemed
to be illegal or unenforceable, such provision shall be enforced to the extent
possible, and any remaining illegality or unenforceability will not affect the
validity or enforceability of any other provisions of this Agreement, which
together will be construed as if such illegal or unenforceable provision had
not been included in this Agreement. Any legal action arising out of your use
of the Stuypend Services must be brought within one year after the
cause of action has arisen. The section headings in this Agreement are for
convenience of reference only and are not to be considered as parts, provisions
or interpretations of this Agreement. You may not transfer or assign any rights
or obligations you have under this Agreement without Stuypend's prior
written consent. Stuypend reserves the right to transfer or assign this
Agreement or any right or obligation under this Agreement at any time. Our
failure to act with respect to a breach by you or others does not waive our
right to act with respect to that breach or subsequent or similar breaches.
30. Independent Contractors
Independent
Contractors. The parties agree they are independent
contractors to each other in performing their respective obligations hereunder.
Nothing in this Agreement or in the working relationship being established and
developed hereunder shall be deemed or is intended to be deemed, nor shall it
cause, the parties to be treated as partners, joint ventures, or otherwise
as joint associates for profit.