Vault Open Loop Digital Mastercard Terms and Conditions

These Terms and Conditions apply to your Vault prepaid card (“the Card”).

The Card is issued by Vault Payment Solutions Group Pty Ltd, ABN 66 632 373 105 (“Vault”). In these Card terms and conditions, “we”, “us” or “our” means Vault; and “you”, “your” or “user” means the cardholder. If you acquire the Card you will have a contract with us.

When we refer to a Physical Card it means a plastic card issued by Flexewallet and when we refer to a Digital Card it means a card that has had sensitive personal information (including, but not limited to, a Personal Account Number (PAN)) substituted for a unique identifier (token) and stored within a Device Wallet for you to use as payment. A Digital Card can be used for contactless transactions as well as card not present transactions, including online purchases.

When we refer to a Digital Wallet, we are referring to Apple Pay, Google Pay or Samsung Pay or any other digital wallet provider capable of provisioning the Card to your Device and when we refer to a Device, we are referring to a mobile or wearable device that allows you to store or otherwise add a Card to a Digital Wallet.

Website means the secured web site https://www.vaultps.com.au/terms and any additional or replacement website we notify you as the website for the purposes of these Terms & Conditions from time to time.

App means the mobile application provided by Vault which allows you to manage your Card, review transactions and check your available balance.

Accepting the Card and agreeing to these Conditions of Use

1. You agree to be bound by these Terms and Conditions by using the Card in any capacity including, but not limited to, provisioning the Card into your Device, using any Card features or completing a transaction with the Card.

2. Use and access to the Digital Card is subject to your respective Device capability. This means your Device must have the ability to store the Digital Card and make a purchase using a Digital Wallet.

Activating the Card

3. The Card must be activated prior to use and expiry.

a. For a Physical Card, activate via the website by following the prompts and activation steps listed on the mailer that came with the Card;

b. For a Digital Card, via the App by following the instructions provided to you via text message, email to your Device or via QR code.

4. Upon activation, the Card will be ready for use from 12pm the following business day.

5. If the Card is not activated within the activation period it will be cancelled for nonactivation, and the available balance will be forfeited.

6. The activation expiry date and activation code is provided to you with your card;

a. For a Physical card, in the mailer that accompanied your card.

b. For a Digital card, in the SMS or Email provided to your Device, or on the QR Code provided to you. Using the Card

7. The Card is a single load prepaid card that can be used for purchasing goods and services at merchants where prepaid Mastercard is accepted (Accepted Merchant),

a. at an Accepted Merchant that has an EFTPOS device by either:

i. swiping a Physical Card and selecting the ‘credit’ button; or

ii. for a Digital Card, making a contactless transaction.

b. Over the telephone or the internet at an Accepted Merchant by providing the card number, expiry date and security code.

8. The Card is not reloadable and cannot be used to make transactions that exceed the Card’s available balance. In the event the available amount on the Card is less than the purchase amount, some merchants may not allow the Cardholder to combine multiple payment types (such as cash, cheque or another payment card) to complete the transaction.

9. The Card does not have cash out capability. You may not use the Card to withdraw cash.

10. The Card cannot be cancelled, used to obtain or redeem cash and cannot be used for making direct debit, recurring, or regular instalment payments.

PIN

11. When using the Card at point of sale, you may be required to use the personal identification number (PIN).

12. Your PIN has been provided:

a. In respect of a Physical Card, in the PIN Mailer (within which your Physical Card was attached); or

b. In respect of a Digital Card, within the App once set by you. You must not disclose your PIN to any other person.

13. To change your PIN:

a. For a Physical Card, go to the Website listed on the back of your card:

i. you will be prompted to enter your 16-digit Personal Account Number (PAN) along with personal details to verify your identity; and

ii. following verification of your identity a Pass Code will be sent to either your email address or mobile phone number as registered with the Card. The Pass Code will be required to allow you to access and or change your PIN.

b. For a Digital Card, via the App.

Checking your Card balance and transaction history

14. You acknowledge and agree that we do not provide you with paper statements. Electronic statements showing Card transactions and Available Balance are available for viewing on the Website. The Available Balance on the Digital Card is available for viewing on the App.

15. You are responsible for checking your transaction history and knowing the available balance for the Card.

16. To check the balance of your Card;

a. The balance of the Digital Card can be viewed in the App or by accessing https://vaultactivation.com.au/balance and entering your unique Card ID (the 9character alphanumeric identifier) which can be found in the App

b. The balance of the Physical Card can be viewed by accessing www.vaultactivation.com.au/balance and entering the unique Card ID (the 9character alphanumeric identifier printed on the back of the Card).

Card Expiry

17. Once Activated, the Card is valid until the expiry date shown:

a. For a Physical Card, on the card itself.

b. For a Digital Card, within the App

18. The Card cannot be used after expiry. After its expiry, or cancellation for non-activation, any balance will be forfeited, and the Card will be declined when presented for use. We will not give you any notice before this happens.

Cancellation and revocation of the card

19. Vault may cancel or suspend your Card and or terminate this agreement with you at any time. Vault may cancel or suspend your Card immediately if:

a. we reasonably believe that use of the Card may cause loss to you or to us; or

b. we reasonably believe that the card has been or is likely to be misused; or

c. we reasonably believe that it is required for security purposes, including where it is used for Unauthorised Transactions or due to fraud; or

d. we suspect on reasonable grounds, that you have breached any material term or conditions of these Terms and Conditions; or

e. we suspect, on reasonable grounds, that the Card has been used illegally; or f. we were provided with false, inaccurate or incomplete information in connection with the application for your Card. 20. Upon the cancellation of your Card, we will notify you as soon as reasonably practicable. Your Card, your responsibility 21. The Card is like cash. We have no obligation to replace or refund value for misused, lost, stolen or damaged Cards except where we have breached any condition or warranty implied under consumer protection legislation that cannot be excluded in these terms

Cancellation and revocation of the card

19. Vault may cancel or suspend your Card and or terminate this agreement with you at any time. Vault may cancel or suspend your Card immediately if:

a. we reasonably believe that use of the Card may cause loss to you or to us; or

b. we reasonably believe that the card has been or is likely to be misused; or

c. we reasonably believe that it is required for security purposes, including where it is used for Unauthorised Transactions or due to fraud; or

d. we suspect on reasonable grounds, that you have breached any material term or conditions of these Terms and Conditions; or

e. we suspect, on reasonable grounds, that the Card has been used illegally; or

f. we were provided with false, inaccurate or incomplete information in connection with the application for your Card.

20. Upon the cancellation of your Card, we will notify you as soon as reasonably practicable.

Your Card, your responsibility

21. The Card is like cash. We have no obligation to replace or refund value for misused, lost, stolen or damaged Cards except where we have breached any condition or warranty implied under consumer protection legislation that cannot be excluded in these terms and conditions (for example, warranties as to the exercise of due car and skill in providing services and as to fitness for purpose of materials we provide).

22. You are responsible for all transactions on the Card, except where there has been fraud or negligence by our staff or agents. If you notice any error relating to the Card, you should notify Vault Customer Support immediately at info@vaultps.com.au.

23. Except to the extent required by law, we are not liable for any loss or damage arising out of or in any way related to the use of the Cards, including:

a. if authorisation is declined for any transaction, except where the authorisation has been declined because of an act or omission on our part;

b. if you permit someone else to use the Card, you will be responsible for any transactions initiated by that person with the Card;

c. the availability of merchants who allow the use of the Card as payment;

d. reduced levels of service caused by the failure of third-party communications and network providers (except to the extent deemed liable under the ePayments Code).

24. Unauthorised transactions can happen using the Card if the Device it is lost or stolen, a PIN is revealed to any other person, or because of fraud.

Fees and Charges

28. We will not charge any fees for using the Card. However, some merchants may charge you for using the Card and such fees may be deducted from the balance of your Card at the time of the transaction.

29. A 2.99% foreign exchange conversion fee applies to any transactions in a currency other than Australian dollars and is calculated on the Australian dollar transaction amount. This will be added to the total transaction amount debited to the Card. Transactions made in a currency other than Australian dollars will be subject to the prevailing Mastercard exchange rate at the time.

Refunds or exchanges

30. Any refunds on Card transactions are subject to the policy of the specific merchant. If the Card expires or is revoked before you have spent any funds resulting from a refund then you will have no access to those funds.

31. You cannot “stop payment” on any transaction after it has been completed. If you have a problem with a purchase made with the Card, or a dispute with a merchant, you must deal directly with the merchant involved. If you cannot resolve the dispute with the merchant, you can contact Vault Customer Support.

Liability

32. We are not liable:

a. if, through no fault of our own, the available balance is not enough to cover a transaction; or

b. if circumstances beyond Vault’s control prevent a transaction, despite any reasonable precautions having been taken by us; or

c. where there is any loss resulting from any failure due to events outside our reasonable control; or

d. where there is any loss resulting from any system failure or industrial dispute outside our reasonable control; or

e. for any industrial dispute; or

f. for the way in which any merchant refuses to accept the Card; or

g. for any indirect, special or consequential losses; or

h. for any infringement by you of any currency laws in the country where the Card is issued or used; or

i. for any dispute between you and the supplier of any goods or services purchased with the Card; or

j. for our taking any action required by any government, federal or state law or regulation or court order; or

k. for anything specifically excluded or limited elsewhere in these Terms and Conditions

except to the extent that the liability is caused by our fraud, negligence or wilful misconduct (including that of our officers, employees, contractors or agents).

33. Any failure or delay enforcing a term of these Terms and Conditions does not mean a waiver of them.

34. To the extent permitted by law, We:

a. exclude all statutory or implied conditions and warranties and any other liability We may have to you (including liability for indirect or consequential loss) that may arise under statute or at law including without limitation for breach of contract, in tort (including negligence) or under any other cause of action howsoever arising out of, or in any way related to, the use of the Card and our goods and services;

b. limit our liability under any condition or warranty which cannot be legally excluded in relation to the supply of goods or services to (at our election) replacing the goods or services or supplying equivalent goods or services again; and

c. make no warranties or representations about our goods or services or the content related to our goods and services, including but not limited to warranties or representations; that such content will be complete, accurate or up-to-date or that access to the Card or related services will be uninterrupted, error-free or free from viruses.

Privacy

35. Information will be disclosed to third parties about the Card, or transactions made with the Card, whenever allowed by law, and where necessary to operate the Card and process transactions. Our Privacy Policy is available at: Vault: https://www.vaultps.com.au/privacy-policy

Notices

36. You agree that we may give written notices or other communications to you under or in connection with these Terms and Conditions by either:

a. sending the notice, information or communication using email or, for a Digital Card, via the App; or

b. using email to notify you that the notice, information or communication is available from an electronic address (such as the Website)

37. You may vary your nominated email address by notifying Vault. In addition, we may give you notices, information or other communications to you relating to the Card:

c. by sending communications to the email address last known to us, or which you last gave us for sending notices and communications to you;

d. for a Digital Card, by making the notice available on the App; or

e. if the notice or communication is not personal to you – by publishing a notice to the Website.

38. If we give a notice, information or other communication to you electronically, you are taken to have received it on the day it is transmitted. You agree that, for the purpose of communications received by us by email or through the Website, we:

f. may verify your identity by reference to any or all the information given by you when applying for the Card or during the Card activation or any changes made to this information; and

g. may proceed on the basis that we are satisfied by that verification.

Changes to these Conditions of Use

39. We reserve the right to change these Terms and Conditions at any time. Any changes to the Terms and Conditions can be viewed at the Website.

Governing Law

40. Any legal questions concerning these Terms and Conditions or the Card will be decided under the laws of Victoria, Australia.