ClassWallet Card Program Agreement

Last Updated: November 30, 2018

This ClassWallet Card Program Terms and Conditions (this “Agreement“) represents an agreement between you and the Bank that governs the ClassWallet Card Program (each term as defined below). THE CLASSWALLET CARD PROGRAM IS A BUSINESS CARD PROGRAM INTENDED TO FACILITATE YOUR USE OF YOUR EDUCATIONAL INSTITUTION’S FUNDS FOR EDUCATIONAL INSTITUTION sponsored program expense purposes. FUNDS MAY BE USED ONLY FOR EDUCATION-RELATED USES AND MAY NOT BE USED FOR YOUR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES. YOU CANNOT USE YOUR CARD TO PERFORM TRANSACTIONS UNTIL YOU HAVE ACTIVATED YOUR CARD AND SELECTED A PERSONAL IDENTIFICATION NUMBER (“PIN”) PURSUANT TO THIS AGREEMENT. By activating or using YOUR Card or participating in the program IN ANY WAY, YOU represent that you HAVE READ and understand THIS AGREEMENT and you agree to be bound by the terms and conditions of this Agreement AND OUR PRIVACY POLICy. PLEASE VISIT WWW.classwallet.com (the “ClassWallet website“) TO VIEW, PRINT, and save This agreement and OUR PRIVACY POLICY.

IMPORTANT: THIS AGREEMENT INCLUDES RESOLUTION OF DISPUTE BY ARBITRATION INSTEAD OF IN COURT.

Definitions

“You” or “your” means the person that has qualified for and established a Card Account (see Qualifying for and Establishing Card Accounts). “Bank” means Central National Bank, Enid, Oklahoma, member Federal Deposit Insurance Corporation (“FDIC”). “Card” means the ClassWallet-branded ClassWallet Prepaid Card issued by Bank through which you can obtain access to ClassWallet Funds. Each reference to “Card” also shall include “Cards.” “Card Account” means the records maintained by Bank for each Card. “We,” “us,” and “our” mean Bank and its successors, affiliates, and assignees. “ClassWallet” means ClassWallet, Inc., a Florida corporation that operates a website that allows you to receive the disbursement of ClassWallet Funds from a designated ClassWallet Account to your Card Account, which may be used solely for classroom and educational purposes. ClassWallet is the sponsor of the Program. “ClassWallet Account” means the account ClassWallet maintains on behalf of your Educational Institution in which undisbursed ClassWallet Funds are deposited. “ClassWallet Card Program” or “Program” means the program through which the Bank issues one or more Cards which may only be used for classroom and related educational purposes. “ClassWallet Funds” means the funds provided by the Educational Institution that you may use for classroom and educational institution sponsored program expenses through the Card. “Educational Institution” is an educational institution that has entered into an Agreement with ClassWallet to disburse ClassWallet Funds. “Educational Institution Agreement” means the separate agreement between ClassWallet and the Educational Institution pursuant to which the Educational Institution appoints ClassWallet as the Educational Institution’s agent to maintain the ClassWallet Account and to grant ClassWallet with authority to disburse the ClassWallet Funds to you and other authorized users.

IMPORTANT information about procedures for REQUESTING A CARD

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who requests a card. What this means for you: when you request a card, we will ask for your name, address, date of birth, SOCIAL SECURITY NUMBER and other information that will allow us to identify you. We may also ask to see a copy of your driver license or other identification documents.
  1. CONSENT TO USE ELECTRONIC SIGNATURES AND COMMUNICATIONS
  2. Your Consent. To the extent permitted by applicable law, you consent to use electronic signatures and to electronically receive all records, notices, statements, communications, and other items for all services provided to you under this Agreement and in connection with your relationship with us (collectively, “Communications”) that we may otherwise be required to send or provide you in paper form (e.g., by mail). By accepting and agreeing to this Agreement electronically, you represent that: (1) you have read and understand this consent to use electronic signatures and to receive Communications electronically; (2) you satisfy the minimum hardware and software requirements specified below; and (3) your consent will remain in effect until you withdraw your consent as specified below.
  3. Your Right to Withdraw your Consent. Your consent to receive Communications electronically will remain in effect until you withdraw it. You may withdraw your consent to receive further Communications electronically at any time by contacting us at 866-574-4395. If you withdraw your consent to receive Communications electronically, we reserve the right to close your Card Account and return your remaining Card Account balance as set forth in this Agreement (in which case you will no longer be able to use your Card or participate in the Program, except as expressly provided in this Agreement) or charge you a fee for paper copies of Communications. Any withdrawal of your consent to receive Communications electronically will be effective only after we have a reasonable period of time to process the withdrawal. Please note that your withdrawal of consent to receive Communications electronically will not apply to Communications electronically provided by us to you before the withdrawal of your consent becomes effective.
  4. You Must Keep Contact Information Current With Us. In order to ensure that we are able to provide Communications to you electronically, you must notify us of any change in your e-mail address by updating your profile on the ClassWallet Website.
  5. Copies of Communications. You should print and save or electronically store a copy of all Communications that we send to you electronically. In addition, you may request a paper version of any electronic Communication by contacting us at support@classwallet.com. We reserve the right to assess a fee for any such paper copy.
  6. Hardware and Software Requirements. In order to access and retain Communications provided to you electronically, you must have: (1) a valid email address; (2) a computer or other mobile device (such as tablet or smart phone) that operates on a platform like Windows or a Mac environment; (3) a connection to the Internet; (4) a Current Version of Internet Explorer 8 (or higher), Mozilla Firefox 7.0, Safari 5, or Chrome 15; (5) a Current Version of a program that accurately reads and displays PDF files, such as Adobe Acrobat Reader version 7 or higher; (6) a computer or device and an operating system capable of supporting all of the above; and (7) a printer to print out and save Communications in paper form or electronic storage to retain Communications in an electronic form. “Current Version” means a version of the software that is currently being supported by its publisher.
  7. Changes. We reserve the right, in our sole discretion, to communicate with you in paper form. In addition, we reserve the right, in our sole discretion, to discontinue the provision of electronic Communications or to terminate or change the terms and conditions on which we provide electronic Communications. Except as otherwise required by applicable law, we will notify you of any such termination or change by updating this Agreement on the ClassWallet Website or delivering notice of such termination or change electronically.
  8. CARD ACCOUNT TERMS
  9. Qualifying for and Establishing Card Accounts.

Eligibility

In order to establish a Card Account, you must:
  1. Be an employee in good standing of the Educational Institution;
  2. Have registered with ClassWallet and have your own account with ClassWallet by having established a username, password and agreed to ClassWallet’s Terms of Use (please visit the ClassWallet Website);
  3. Be identified by an Educational Institution as eligible to receive funds (please visit the ClassWallet Website and review the ClassWallet Terms of Use);
  4. Agree to this Agreement, as may be amended from time to time as set forth on the ClassWallet Website in accordance with applicable law;
  5. Accept the Bank’s Privacy Policy, which is incorporated by reference into this Agreement; and
  6. Agree to the Representations and Warranties as set forth below.

Your Representation and Warranties

By requesting, activating or using a Card or by retaining, using or authorizing the use of the Card, you represent and warrant to us that:

  1. You have received a copy of this Agreement and agree to be bound by and to comply with it and understand that you are subject to change in accordance with applicable law;
  2. the personal and Educational Institution information that you provide to us in connection with your Card Account is true, correct and complete; and
  3. the Card will only be used for classroom and educational sponsored program expense purposes as permitted by the Educational Institution, and will not be used for personal, family or household purposes.
  4. Registering for the Program. In order to participate in the Program, you must (a) accept and agree to this Agreement, the Electronic Communications Agreement, and our Privacy Policy; (b) be a U.S. citizen (or a legal resident with a U.S. Tax Identification Number “TIN”) of at least 18 years of age (or older if residing in a state where the majority age is older); and (c) provide all requested information, such as your name, date of birth, address, email address, social security number, user name and password, and such other information as we may request from time to time (collectively, “User Information“). You represent and warrant that all information, including User Information, you provide us from time to time is truthful, accurate, current, and complete. You agree to promptly notify us of changes to any User Information. If we approve your registration for a Card Account, we will mail you a Card.
  5. Card. The Card is a prepaid debit card issued by the Bank. The Card is not a credit card. The Card is not a gift card. The Card remains the property of the Bank and must be returned upon our request. To the extent permitted by applicable law, we may cancel, repossess, or revoke the Card at any time without prior notice. The Card cannot be redeemed for cash. The Card is not for resale and may not be transferred or assigned.
  6. Card Account. You acknowledge and agree that the value available in your Card Account is limited to the funds that have been added to your Card Account. The funds associated with your Card Account are insured by the FDIC for up to the maximum amount as published by the FDIC. You will not receive any interest on the funds in your Card Account.
  7. Activating Your Card. You cannot use your Card to perform transactions until you have activated your Card and selected a PIN pursuant to this Agreement. You may either activate your Card on the ClassWallet Website or by calling 866-574-4395. In order to activate your Card, you will need to provide certain User Information, so we can verify your identity and then select a PIN. By activating your Card or participating in the program in any way, you represent that you have read and understand this Agreement and you agree to be bound by the terms and conditions of this Agreement and our Privacy Policy. Please visit the ClassWallet Website to view, print, and save this Agreement and our Privacy Policy.
  8. Fees. Neither we nor ClassWallet will charge you any fees for you to obtain or use your Card. Third party fees may apply for participating in the Program as described Section 22 Account Alerts in this Agreement.
  9. Card and PIN Security. When selecting a PIN, do not use numbers or words that appear in your wallet (e.g., your date of birth, address, or social security number). Memorize your PIN and do not share it with anyone. Do not write your PIN on your Card or keep it in the same location as your Card. You should treat your Card with the same care as you would treat cash. Always protect your Card and keep it in a safe place. Do not send your Card number in an email or text message. Make sure your Card information is secured with encryption when you use your Card to perform transactions over the Internet or wireless networks.
  10. Lost or Stolen Card or Compromised PIN. You agree to contact Customer Service IMMEDIATELY if you believe: (a) a Card has been lost or stolen, (b) someone has gained unauthorized access to a PIN, or (c) someone has transferred or may transfer funds to or from your Card Account without your permission. Contacting us by telephone at 866-574-4395 is the best way to minimize possible losses. Unless we have authorized a transaction after a Card Account is blocked (see Section 27 – Our Liability to You), you are responsible for all unauthorized transactions initiated and fees incurred from the unauthorized use of a Card.
  11. Authorized Users. You may not authorize anyone else to use your Card. If you authorize another person to use your Card, you are responsible for all transactions initiated and fees incurred by use of your Card and Card Account. If you permit another person to have access to your Card or Card number, we will treat this as if you have authorized such person to use the Card, and you will be liable for all transactions and fees incurred by such person, even if they exceed the authorization granted. Transactions will be considered unauthorized only after you notify us that the person is no longer authorized to use the Card. You are wholly responsible for the use of your Card according to the terms and conditions of this Agreement.
  12. Transaction Requirement. Transactions approved and processed with the Card may only be used to purchase goods and service for classroom and educational and sponsored program expense purposes as permitted by the Educational Institution and not for personal, family or household purposes.
  13. Using Your Card. You may use your Card to make purchases at any merchant that accepts MasterCard debit cards or debit cards of other networks in which the Bank participates, limited to the ClassWallet Funds available in your Card Account balance, the transaction limits and transaction restrictions outlined below, and the other terms and conditions of this Agreement. If you use your Card number without presenting your Card (such as for a mail order, telephone, or Internet purchase), the legal effect will be the same as if you used your Card itself. Each time you use your Card, you authorize us to reduce the value available in your Card Account by the amount of the transaction and any applicable fees. You are not allowed to exceed the amount of the available funds in your Card Account through an individual transaction or a series of transactions. Nevertheless, if a transaction exceeds the amount of available funds in your Card Account you will be fully liable to us for the full amount of the transaction and any applicable fees. You may not use your Card for online gambling or illegal transactions. Merchant categories that are currently blocked for the ClassWallet program include, but are not limited to bars, lounges, package stores, and liquor stores. We reserve the right to add additional blocked merchant categories to our list. We may temporarily “freeze” your Card Account and attempt to contact you if we notice transactions that are unusual or appear suspicious.
  14. No Cash Access. You may not use your card to obtain cash
  15. Merchant Holds on Available Funds. When you use your Card or Card number to initiate a transaction at certain merchant locations, such as hotels, restaurants, gas stations, and rental car companies, where the final purchase amount is unknown at the time of authorization, a hold may be placed on the available funds in your Card Account for an amount equal to or in excess of the final transaction amount. The funds subject to the hold will not be available to you for any other purpose until the merchant sends us the final transaction amount. Once we receive the final transaction amount, it may take up to seven days for the hold to be removed. During that period, you will not have access to the funds subject to the hold. Please be advised that you may experience difficulties using your Card at unattended vending machines, kiosks, and gas station pumps. If your Card is declined at a “pay at the pump” gas station even though you have sufficient funds available, you should pay for your purchase inside with the cashier.
  16. Funding of the Card Account. Only the Educational Institution may add funds to your Card Account as described below. You may not add funds to your Card Account through any other means. The only funds available to be accessed through the Card are the ClassWallet Funds. When the Card is used for making a transaction, an authorization request will be transmitted to us from a merchant. We will communicate with ClassWallet to determine if you have sufficient ClassWallet Funds available to fulfill the transaction authorization request. If ClassWallet notifies us that funds are available, then the transaction will be authorized, and the funds will be disbursed through the Card. If ClassWallet notifies us that there are not sufficient funds available for the amount of the purchase, then no funds are added to the Card Account and if there are not otherwise sufficient funds in the Card Account to fulfill the transaction authorization request from refunds to the Card Account (see Section 24 – Refunds and Disputes), the transaction will be declined.
  17. Transaction Limits. The maximum amount that can be spent using your Card Account is $500 per day . In order to protect your Card Account, we may temporarily impose limits on the dollar amount, number, and type of transactions performed using your Card and your Card Account. To the extent permitted by applicable law, we reserve the right to: (a) change the transaction limits; (b) limit, block, or place a hold on certain types of transfers or transactions; and (c) limit, suspend, or block transfers from particular persons, entities, or Card Accounts.
  18. Transaction Restrictions. You may not use your Card for online gambling or illegal transactions. The Educational Institution reserves the right to restrict transactions (a) based on Merchant Category Code, (b) purchases originating outside of the United States, or (c) purchases made to sellers outside of the United States.
  19. Card Account Balance. It is important to know the amount of available funds in your Card Account (including your available ClassWallet Funds in your ClassWallet Account) before performing a transaction. If you do not have sufficient funds in your Card Account (including your available ClassWallet Funds in your ClassWallet Account) to cover the transaction amount, the transaction will be declined. If you do not have sufficient funds in your Card Account (including your available ClassWallet Funds in your ClassWallet Account), you can request that the merchant charge a part of the purchase to your Card and pay the remaining amount with cash or another card. These are called “split transactions.” Some merchants do not allow cardholders to conduct split transactions. You acknowledge and agree that the funds available to perform transactions are limited to the available funds that have been added to your Card Account that are not subject to a hold. You are not authorized to use any funds added to your Card Account in error. Any transaction that could create a negative balance for your Card Account is not permitted, but may occur in limited circumstances. Adjustments may be made to your Card Account to reverse an error, reflect a merchant adjustment, or resolve a dispute regarding a transaction posted to your Card Account. These processing and adjustment entries could cause your Card Account to have a negative balance. If your Card Account has a negative balance, you agree: (a) that the balance of your ClassWallet Account can be adjusted to reflect that amount; (b) that we may automatically apply any subsequent deposits to your Card Account to satisfy the negative balance; and (c) to pay us on demand by a personal check, money order, or other payment method authorized by us for the amount of the negative balance. If no future funds are added to your Card Account, we may send you a notice explaining the reason for the adjustment and requesting payment by a personal check, money order, or other payment method to satisfy the negative balance. Payments should be mailed to us at the address provided below or the address stated in the applicable notice.
  20. Transaction History. You may obtain information about the available funds in your Card Account and a 60-day history of your Card Account transactions on the ClassWallet Website or by calling Customer Service at 866-574-4395.
  21. Account Alerts. If you provide email addresses to us, we may send you important notices via email about your Card Account. In addition, if you provide mobile phone numbers or other text message addresses to us, you expressly consent to receive text messages relating to your Card Account at that number or address. Third-party data and message fees may apply.
  22. Receipts. You should get a receipt for each Card transaction; however, some merchants may not offer or provide receipts for small dollar transactions. You agree to retain, verify, and reconcile your Card transactions and receipts.
  23. Refunds and Disputes. You will not receive cash refunds for Card transactions. If a merchant gives you a credit for merchandise returns or adjustments, the merchant may do so by processing a credit adjustment, which we will credit to the available funds in your Card Account. The amount of the refund will be automatically returned to your ClassWallet Account for future use. See Terms of Use on the ClassWallet Website. We are not responsible for the delivery, quality, safety, legality, or any other aspects of goods or services that you purchase with your Card. All such disputes must be addressed and handled directly with the merchant from whom those goods or services were purchased.
  24. Privacy Policy. Your privacy is very important to us. We may disclose information to third parties about your Card and Card Account, and transactions related thereto: (a) as necessary to effect, administer, or enforce a transaction requested or authorized by you; (b) with your consent; (c) to protect against or prevent actual or potential fraud, unauthorized transactions, or other liability; (d) to comply with government agency or court orders; (e) as permitted and required by applicable law; and (f) as otherwise provided in Bank’s Privacy Policy. You understand that by participating in the Program, you consent to the collection, use, and disclosure of your information as set forth in this agreement and Bank’s Privacy Policy available on the ClassWallet Website.
  25. Replacement Cards. The expiration date of your Card is identified on the front of the Card. If there is a positive balance of funds in your Card Account upon expiration of your Card and your Card Account is in good standing, we may issue you a new Card. We may also issue you a new Card when the Card expires even if you have no funds in your Card Account. If you need to replace your Card for any reason, please contact Customer Service. You will need to provide certain User Information so we can verify your identity. There is a fee for replacement cards that the Educational Institution will pay.
  26. Our Liability to You. If we do not complete an electronic fund transfer to or from your Card Account on time or in the correct amount according to these Terms, we may be liable to the Educational Institution for your losses or damages. However, there are some exceptions. We will not be liable if: (a) through no fault of ours, you do not have enough available funds in your Card Account to perform the transaction; (b) circumstances beyond our control (such as fire, flood, water damage, power failure, strike, labor dispute, computer breakdown, telephone line disruption, or natural disaster) prevent or delay the transfer despite reasonable precautions taken by us; (c) the system, or point-of-sale terminal was not working properly and you knew about the problem when you initiated the transaction; (d) the funds in your Card Account are subject to legal process or are otherwise not available for transactions; (e) the merchant refuses to accept your Card; (f) if access to your Card has been blocked after you reported your Card lost or stolen; (g) if we have reason to believe the transaction is unauthorized; or (h) the transaction cannot be completed because your Card is damaged.
  27. Errors or Questions About Your Card Account Transactions. Call Customer Service at 866-574-4395 or email Customer Service at support@classwallet.com as soon as you can if you think an error has occurred involving your Card Account. We must hear from you no later than 60 days after the earlier of the date you electronically access your Card Account, if the error could be viewed in your electronic transaction history, or the date we sent the FIRST written transaction history on which the error appeared. When you send notification of an error involving your Card Account, you will need to tell us: (a) your name and Card number; (b) why you believe there is an error and the dollar amount involved; and (c) approximately when the error took place. We will review the information submitted in a commercially reasonable manner, but given that the ClassWallet Card Program implements a commercial product, you are not entitled to and we are not obligated to follow the requirements or obligations of the Electronic Funds Transfer Act and Regulation E promulgated thereunder, which only apply to consumer purpose accounts and transfers. If you need more information about our error resolution process, contact Customer Service at 866-574-4395.
  28. Your Liability for Unauthorized Transactions. Tell us AT ONCE if you believe your Card has been lost or stolen or your PIN has been compromised or you believe a transaction has been made without your permission using information from your Card Account. Contact Customer Service immediately at the number or address provided below to keep possible losses to a minimum. Contacting us by telephone at 866-574-4395 is the best way to minimize possible losses. If you tell us within two business days after you learn of any unauthorized transactions, you will lose no more than $50 if someone accessed your Card Account without your permission. If you do NOT tell us within two business days after you learn of an unauthorized transaction, and we can prove we could have stopped someone from accessing your Card Account without your permission if you had told us, you could lose as much as $500. You will not be liable for the amounts stated above if: (1) your Card is in good standing; (2) you have not reported more than two incidents of unauthorized use in the preceding 12 months; and (3) you have exercised reasonable care in safeguarding your Card from risk of loss or theft. Also, if your Card Account transaction history or other information shows transfers that you did not make or authorize, tell us at once. If you do not tell us within 60 days after the information is first made available to you, you may not get back any money you lost if we can prove that we could have stopped someone from taking the money if you had told us in time. This means that if you do not contact us in a timely manner, you could lose all the money in your Card Account. If a good reason (such as a long trip, a hospital stay, or other extenuating circumstances) kept you from telling us, we will extend the times specified above to a reasonable period. You agree to cooperate reasonably with us in our attempts to recover funds from, and to assist in the prosecution of, any unauthorized users of your Card Account.
  29. Unclaimed Property. If your Card Account becomes inactive (e.g., if you do not use the funds in your Card Account or access your Card Account for a certain period of time), applicable law may require us to report the funds in your Card Account as unclaimed property owned by the Educational Institution.
  30. Assignment. To the extent permitted by applicable law, we may assign this Agreement without obtaining your consent. You may not assign or transfer your Card, your Card Account, or this Agreement without our prior written consent. All usage of the Card shall be deemed as an authorized transaction by you unless you notify us promptly of an unauthorized transaction.
  31. Severability and Waiver. If any provision of this Agreement is held to be invalid or unenforceable, such provision will be deemed to be modified to the minimum extent necessary to make it valid and enforceable and the rest of this Agreement will not be affected. We do not waive our rights by delaying or failing to exercise them at any time.
  32. Amendment. We may add to, delete, or amend this Agreement at any time in our sole discretion without providing notice to you, subject to applicable law. We reserve the right, subject to applicable law, to deliver to you any notice of changes to existing terms or the addition of new terms by posting an updated version of this Agreement on the ClassWallet Website or delivering notice of changes to you electronically.
  33. Entire Agreement. This Agreement constitutes the entire and sole agreement between you and us with respect to the Program and supersedes all prior understandings, arrangements, or agreements, whether written or oral, regarding the Program.
  34. Cancellation and Suspension. To the extent permitted by applicable law, we may cancel or suspend your Card, your Card Account, or this Agreement immediately, for any reason, and without notice to you. You may cancel your Card, your Card Account, or this Agreement at any time by notifying Customer Service at the number or address provided below. Cancellation or suspension of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to such cancellation or suspension. In the event that your Card Account is cancelled, closed, or terminated for any reason, you may request the unused balance to be returned to you via a check to the mailing address we have in our records.
  35. Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Oklahoma, consistent with the Federal Arbitration Act, without giving effect to any principles that provide for the application of the law of another jurisdiction.
  36. Indemnification. At our request, you agree to indemnify and hold harmless us and our parents, subsidiaries, and other affiliated companies, and our and their employees, contractors, officers, and directors against any and all claims, suits, damages, costs, lawsuits, fines, penalties, liabilities, and expenses (including, without limitation, reasonable attorneys’ fees) that arise from your violation of this Agreement, applicable law, or any third-party rights or your fraud or willful misconduct. We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you in which event you will cooperate in asserting any available defenses.
  37. LIMITATION OF LIABILITY. Except as otherwise expressly provided in this Agreement or as otherwise required by applicable law, we, our affiliates, and the parties with whom we contract in order to offer the Cards, the Card Accounts, and related services are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to the Cards, the Card Accounts, any products or services purchased using Card Accounts, or this Agreement (as well as any related or prior agreement that you may have had with us).
  38. ARBITRATION AGREEMENT AND WAIVER OF JURY TRIAL: THIS AGREEMENT REQUIRES ALL DISPUTES BE RESOLVED BY WAY OF BINDING ARBITRATION UNLESS YOU OPT-OUT AS DETAILED IN THE ARBITRATION SECTION BELOW.

READ THIS ARBITRATION PROVISION. UNLESS YOU ACT PROMPTLY TO REJECT THE ARBITRATION PROVISION BY OPTING OUT IN ACCORDANCE WITH PARAGRAPH (b) of this Section 39, CAPTIONED “OPT-OUT PROCESS,” THE ARBITRATION PROVISION WILL BE PART OF THIS AGREEMENT AND WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS, INCLUDING YOUR RIGHT TO BRING OR PARTICIPATE IN A CLASS ACTION, IN THE EVENT OF A DISPUTE.

  1. General: This Arbitration Provision describes when and how a Claim (as defined below) may be arbitrated. Arbitration is a method of resolving disputes in front of one or more neutral persons, instead of having a trial in court in front of a judge and/or jury. It can be a quicker and simpler way to resolve disputes. Arbitration proceedings are private and less formal than court trials. Each party to the dispute has an opportunity to present some evidence to the arbitrator. The arbitrator will issue a final and binding decision resolving the dispute(s), which may be enforced as a court judgment. A court rarely overturns an arbitrator’s decision. As solely used in this Arbitration Provision, the terms “we,” “us” and “our” mean not just Central National Bank & Trust Company but also our parent companies, subsidiaries, affiliates, successors, assigns and any of these entities’ employees, officers, directors and agents.
  2. Opt-Out Process. If you do not want this Arbitration Provision to apply, you may reject it by mailing us a written opt-out notice which contains your Card Account number, your name and address and a signed statement that you opt out of the Arbitration Provision of this Agreement. The opt out notice must be sent to us by mail at Central National Bank 324 W. Broadway Ave., Enid, OK 73701. (You should retain a copy of your opt-out notice and evidence of mailing or delivery.) An opt out notice is only effective if it is signed by you and if we receive it within thirty (30) days after the date you received this Agreement. Indicating your desire to opt out of this Arbitration Provision in any manner other than as provided in this Section 39 is insufficient notice. Your decision to opt out of this Arbitration Provision will not have any other effect on this Agreement and will not affect any other arbitration agreement between you and us, which will remain in full force and effect. If you don’t reject this Arbitration Provision, it will be effective as of the date you received this Agreement.
  3. What Claims Are Covered: “Claim” means any claim, demand, dispute or controversy between you and us that in any way arises from or relates to your Card Account (whether past, present or future). For purposes of this Agreement, the term “Claim” shall have the broadest possible meaning. Despite the foregoing, “Claim” does not include any individual action brought by you in small claims court or your state’s equivalent court, unless such action is transferred, removed, or appealed to a different court.
  4. Starting or Electing to Require Arbitration: Either you or we may start an arbitration of any Claim or require any Claim to be arbitrated. Arbitration is started by initiating an arbitration or required by giving written notice to the other party requiring arbitration. This notice may be given before or after a lawsuit has been started over the Claim and may address any Claims brought in the lawsuit, provided that a party may not pursue a Claim in a lawsuit and then seek to arbitrate that same Claim unless the other party has asserted another Claim in the lawsuit or an arbitration. The notice may be in the form of a motion or petition to compel arbitration. Arbitration of a Claim must comply with this Arbitration Provision and, to the extent not inconsistent or in conflict with this Arbitration Provision, the applicable rules of the arbitration Administrator.
  5. Choosing the Administrator: “Administrator” means the American Arbitration Association (“AAA”), 1633 Broadway, 10th Floor, New York, NY 10019, www.adr.org; JAMS, 1920 Main St. at Gillette Ave., Suite 300, Irvine, CA 92614, www.jamsadr.com, or any other company selected by mutual agreement of the parties. If AAA and JAMS cannot or will not serve and the parties are unable to select an Administrator by mutual consent, the Administrator will be selected by a court. The party asserting the Claim (the “Claimant”) may select the Administrator. Notwithstanding any language in this Arbitration Provision to the contrary, no arbitration may be administered, without the consent of all parties to the arbitration, by any Administrator that has in place a formal or informal policy that purports to override the Class Action Waiver.
  6. Court and Jury Trials Prohibited; Other Limitations on Legal Rights: IF OPT OUT OF THIS ARBITRATION PROVISION OR WE ELECT TO ARBITRATE A CLAIM, YOU AND WE WILL NOT HAVE THE RIGHT TO PURSUE THAT CLAIM IN COURT OR HAVE A JURY DECIDE THE CLAIM. ALSO, YOUR AND OUR ABILITY TO OBTAIN INFORMATION FROM THE OTHER PARTY IS MORE LIMITED IN AN ARBITRATION THAN IN A LAWSUIT. OTHER RIGHTS THAT YOU OR WE WOULD HAVE IN COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION.
  7. Prohibition Against Certain Proceedings: IF YOU OR WE ELECT TO ARBITRATE A CLAIM: (1) NEITHER YOU NOR WE MAY PARTICIPATE IN A CLASS ACTION IN COURT OR IN CLASS-WIDE ARBITRATION, EITHER AS A PLAINTIFF, DEFENDANT OR CLASS MEMBER; (2) NEITHER YOU NOR WE MAY ACT AS A PRIVATE ATTORNEY GENERAL IN COURT OR IN AN ARBITRATION; (3) CLAIMS BROUGHT BY OR AGAINST YOU MAY NOT BE JOINED OR CONSOLIDATED WITH CLAIMS BROUGHT BY OR AGAINST ANY OTHER PERSON; AND (4) THE ARBITRATOR SHALL HAVE NO AUTHORITY TO CONDUCT A CLASS-WIDE ARBITRATION, PRIVATE ATTORNEY GENERAL ARBITRATION, OR MULTIPLE-PARTY ARBITRATION.
  8. Location and Costs of Arbitration: Any arbitration hearing that you attend in person must take place at a location reasonably convenient to you, as determined by the arbitrator. Each Administrator charges fees to administer an arbitration proceeding and the arbitrator also charges fees. This includes fees not charged by a court. If either you or we require a Claim to be arbitrated, you may tell us in writing that you cannot afford to pay the fees charged by the Administrator and/or the arbitrator or that you believe those fees are too high. If your request is reasonable and in good faith, we will pay or reimburse you for all or part of the fees charged to you by the Administrator and/or arbitrator. Also, we will pay these fees if applicable law requires us to, if you prevail in the arbitration or if we must bear such fees in order for this Arbitration Provision to be enforced. We will not ask you to pay or reimburse us for any fees we pay the Administrator or arbitrator. We will bear the expense of our attorneys, experts and witnesses. You will bear the expense of your attorneys, experts and witnesses if we prevail in an arbitration. However, if you are the Claimant, we will pay your reasonable attorney, expert and witness fees and costs if you prevail or if we must bear such fees and costs in order for this Arbitration Provision to be enforced. Also, we will bear any fees and costs if applicable law requires us to do so.
  9. Governing Law: This Arbitration Provision is governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16 (the “FAA”), and not by any state arbitration law. The arbitrator must apply applicable substantive law consistent with the FAA and applicable statutes of limitations and claims of privilege recognized at law. The arbitrator is authorized to award all remedies permitted by the substantive law that would apply if the action were pending in court (including, without limitation, punitive damages, which shall be governed by the Constitutional standards employed by the courts). At the timely request of either party, the arbitrator must provide a brief written explanation of the basis for the award.
  10. Rules of Interpretation: This Arbitration Provision is binding upon and benefits you, your respective heirs, successors and assigns. This Arbitration Provision also is binding upon and benefits us. This Arbitration Provision shall survive the repayment of all amounts owed under this Agreement, any legal proceeding and any bankruptcy, to the extent consistent with applicable bankruptcy law. This Arbitration Provision survives any termination, amendment, expiration or performance of any transaction between you and us and continues in full force and effect unless you and we otherwise agree in writing. In the event of a conflict or inconsistency between this Arbitration Provision, on the one hand, and the applicable arbitration rules or the other terms of this Agreement, on the other hand, this Arbitration Provision shall govern.
  11. Severability: If any portion of this Arbitration Provision is deemed invalid or unenforceable, such a finding shall not invalidate any remaining portion of this Arbitration Provision, this Agreement, or any other agreement entered into by you with us. However, notwithstanding any language in this Arbitration Provision or this Agreement to the contrary, the Class Action Waiver is not severable from the remainder of this Arbitration Provision and, in the event that the Class Action Waiver is held to be invalid and unenforceable, and subject to any right of appeal that may exist with respect to such determination, any class action or representative proceeding shall be determined in a court of law and will not be subject to this Arbitration Provision.
  12. Survival. This arbitration provision shall survive: (1) cancellation, payment, charge-off, or assignment of this Agreement; (2) the bankruptcy of any party; and (3) any transfer, sale, or assignment of this Agreement, or any amounts owed under this Agreement, to any other person or entity.
  13. Miscellaneous Provisions: When any provision in this Agreement states that we may take certain actions, we may do so in our sole discretion. We do not waive our rights by delaying or failing to execute them at any time. To the extent permitted by law and as permitted by the Waiver of Jury Trial and Arbitration above, you agree to be liable to us for any loss, costs, or expenses that we may incur as a result of any dispute or legal proceeding involving your Account.
  14. Contact Information for Customer Service. You may contact us online at www.classwallet.com, by phone during our business days and time of operation — generally Monday through Friday from 9:00 am – 5:00 pm Eastern Time, excluding federal holidays — at 866-574-4395, or by writing us at support@classwallet.com

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