PayPal Business Debit Mastercard® Cardholder Agreement

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PayPal Business Debit Mastercard® Cardholder Agreement

PayPal Business Debit Mastercard® Cardholder Agreement Last updated on September 23, 2024

IMPORTANT – PLEASE READ CAREFULLY

Terms and Conditions/Definitions for the PayPal Business Debit Mastercard

This PayPal Business Debit Mastercard Cardholder Agreement (“Agreement”) outlines the terms and conditions between you, the cardholder, and The Bancorp Bank, N.A. (“Issuer”), and applies to your use of the PayPal Business Debit Mastercard issued by The Bancorp Bank, N.A. This Agreement supplements, but does not replace, the PayPal User Agreement and other applicable agreements between you and PayPal.

“Debit Card” or “Card” means both the digital and physical versions of the PayPal Business Debit Mastercard issued to you by The Bancorp Bank, N.A. “You” and “your” means the person or persons who have received the Debit Card and are authorized to use the Debit Card as provided for in this Agreement. “We,” “us,” and “our” mean the Issuer, our successors, affiliates, assignees and our third-party service providers. PayPal, Inc. (“PayPal”) is the entity sponsoring and managing the Debit Card program. “Card Account” means the account you establish with us for your Card, and includes the records we maintain of the value available for transactions using your Card and of the transactions associated with the Debit Card. Any references to “days” found in this Agreement are calendar days unless indicated otherwise. All capitalized terms shall have the definitions provided in this Agreement. By accepting and using the PayPal Business Debit Mastercard, you agree to comply with all the terms and conditions in this Agreement, and any upcoming changes to this Agreement described on the PayPal Policy Updates Page at the time you accept this Agreement (which changes will apply to you on the indicated effective date), as well the terms of the PayPal User Agreement and, if you have a PayPal Balance account, the PayPal Balance Terms and Conditions between you and PayPal, so please read it carefully.

The expiration date of the Debit Card is identified on the back of your physical Debit Card or in the digital representation of the Card in your PayPal account. The funds available using your Card will not expire, regardless of the expiration date of the Debit Card. If the signature panel is present on the back of the Debit Card, you agree to sign it immediately upon receipt. The Debit Card will remain the property of the Issuer and must be surrendered upon demand. The Debit Card is not a credit card and is not for resale. You will not receive any interest on the funds available for transactions using your Card. The Debit Card is nontransferable and it may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law. You acknowledge and agree that the funds available to spend through use of the Card are limited to the available funds in your Balance Account (as defined in the PayPal Balance Terms and Conditions) or directly held in your PayPal business account (as described in the PayPal User Agreement) (collectively, “PayPal Business Balance”). We may refuse to process any transaction that we believe may violate the terms of this Agreement, the PayPal User Agreement or other agreements between you and PayPal that apply to your use of PayPal. We may also reject applications for Debit Cards at our sole discretion.

You agree that the Debit Card will be used for business purposes only and not for any personal, family or household purposes. We may close the Card and the Card Account if we determine that it is being used for personal, family or household purposes.