Última actualización: 10 de julio de 2025
Responsable: Banco San Juan Internacional, Inc.
This MiDi Deposit Account and Mobile Banking Agreement (“Agreement”) describes the terms and conditions that apply to the establishment of a demand deposit account with Banco San Juan Internacional, Inc. (the “Bank,” “we” or “us”) via a mobile application on your compatible smart mobile device (the “MiDi App”), which includes mobile banking and money transfer capabilities.
Your request to open a demand deposit account in the MiDi App authorizes the Bank to establish and maintain the MiDi Account. In addition to this Agreement, your use of the MiDi Account in connection with the MiDi App is also subject to any other agreements between you and the Bank, including, but not limited to, the MiDi Terms of Use and any other documents provided to you during the enrollment process (together, the “MiDi Documents”). In the event of a conflict between a provision of this Agreement and any other MiDi Documents, this Agreement will control to the extent of its subject matter.
It is your responsibility to carefully read this Agreement, to which you are subject once the MiDi Account is established.
The Depositor indicates Depositor’s acceptance of this Agreement by enrolling or otherwise clicking “I agree” or similar on the MiDi App.
By consenting to this Agreement, the Depositor also consents to electronic delivery by the Bank of (i) all disclosures required or permitted by law or regulation to be delivered to the Depositor by the Bank relating to your Account; (ii) notices regarding the resolution of any unauthorized transaction, account error or other disputed matter hereunder; (iii) notices or disclosures regarding amendments to this Agreement; (iv) privacy policies and other notices; and (v) any other information the Bank may elect to deliver to the Depositor from time to time in accordance with this Agreement, including Account Statements (collectively, “Records and Communications”). All Records and Communications to Depositor may be provided by the Bank by any of the following means: (i) by posting such information to the Account on the MiDi App; (ii) by text message or SMS at the mobile phone number associated with the Account (which may include a link to the MiDi App); (iii) by electronic or e-mail transmission to the e-mail address associated with the Account; and (iv) by electronic or e-mail transmission with a hyperlink to the MiDi App.
By consenting to the terms of this Agreement, the Depositor acknowledges that the Account is entirely internet-based and is not designed to include the option to request paper delivery of Records and Communications, all of which will all be delivered electronically. If the Depositor does not wish to receive electronic delivery of Records and Communications, the Bank will not open the Account, and, if Depositor revokes consent the electronic delivery of Records and Communications after the Account has been opened, the Bank will close the Account. Depositor’s consent to receive electronic Records and Communications will remain in effect until revoked. Depositor may at any time revoke Depositor’s consent to receive electronic deliveries by sending written notice to the Bank at info@bsji.com. Any withdrawal of Depositor’s consent to receive electronic Records and Communications will be effective only after the Bank has a reasonable period of time to process the withdrawal. Depositor’s withdrawal will not affect the legal validity or enforceability of any Records and Communications provided to the Depositor electronically before the withdrawal is effective. Once the Bank processes Depositor’s request to withdraw consent to receive Records and Communications in electronic form, your access and use of the MiDi Account will terminate.
In order to access, view, print and retain electronic Records and Communications that the Bank makes available to you, you must have:
The latest version of the MiDi App;
Local electronic storage capacity to retain Records and Communications and/or a printer to print them;
A valid e-mail account and software to access it;
An up-to-date mobile device suitable for connecting to the internet and supported by the current version of the MiDi App; and
An operating system capable of receiving, accessing and displaying Records and Communications from us in electronic form via text-formatted e-mail.
Depositor shall ensure that Depositor’s smart mobile device used to access the Account will permit the Depositor to receive, open, and view (and if desired, store and print) the Records and Communications the Bank will send to the Depositor by e-mail, text, or otherwise.
The Bank will not send paper copies of any Records and Communications. Except as may be required by applicable law, you do not have the option of requesting paper copies of Records and Communications.
This Agreement, as well as all the rights and obligations of the parties, is subject to the laws and regulations of the Commonwealth of Puerto Rico. If any clause of this Agreement or of the related documents is declared null or invalid under any law, this shall not invalidate the remaining clauses which shall continue in full force and effect.
The Depositor expressly authorizes the Bank to disclose information about the Depositor (including biometric information), the Account or about the transfers made by the Depositor to third-parties in the following events: a) to confirm the existence and condition of the Account to credit information agencies or deposit account information agencies, or Bank affiliates; b) to comply with orders issued by the courts or by government agencies; c) when necessary to complete or process any transaction or transfer or otherwise to perform services or functions on behalf of the Depositor; d) when the Depositor authorizes it in writing; e) when necessary in the ordinary course of the Bank’s business; f) for identity verification and compliance with laws, regulations and policies relating to anti-money laundering and combatting the financing of terrorism; and g) as otherwise provided in the Bank’s Privacy Policy or required or permitted by applicable law.
The Bank reserves the right to amend, modify, alter or revoke this Agreement and any of its appendices and any of the rates applicable to the services offered, at any time by delivering written notice to Depositor describing any changes. In addition, this Agreement is subject to change based on any changes to the scope, coverage or operation of the MiDi Terms of Use. Any change, except as otherwise provided in this Agreement, shall go into effect thirty (30) calendar days from the date on which it is notified to the Depositor. Such notification, unless the regulations in effect otherwise provide, shall be sent by e-mail. Unless otherwise specified by the Bank, Depositor’s continued use of the MiDi Account following the receipt of any such notice constitutes Depositor’s acknowledgement of, and consent to, the change(s) set forth in the notice. The Depositor may, prior to the expiration of the aforementioned period of thirty (30) calendar days and by written notification to the Bank, close the MiDi Account using the process described in this Agreement. In the event of conflict between provisions in this Agreement and the other MiDi Documents, the provisions in this Agreement will govern the relationship between the Bank and the Depositor in respect of the MiDi Account.
The following terms used in the text of this Agreement shall have the meaning specified below. Additional capitalized terms shall have the meanings ascribed to them in the text of this Agreement.
“Account Statement” means the monthly statement the Bank will electronically provide to the Depositor setting forth all Account activity during the related statement period.
“MiDi Account” or “Account” means the deposit account(s) opened and accessible through the MiDi App.
“Depositor,” “you” or “your” means each and every one of the people designated to make transactions to the MiDi Account, or person or entity, or both
“Federal” means of the United States of America.
“Local time” or “Puerto Rico time” means Atlantic Standard Time.
“Local” means of Puerto Rico.
“MiDi” is a trademark of MIDI Technologies LLC, an affiliate of the Bank that licenses and provides deposit account mobile application software to the Bank.
“[MiDi Terms of Use]” refers to the general terms and conditions governing the MiDi App and related user access to the MiDi App, as may be amended, modified, or supplemented from time to time, by and between MiDi and the Depositor.
“Recipient” means a person or entity that authorizes the Depositor in writing to originate transactions to its account by means of the Automated Clearing House (ACH) or other means or ways of authorized transfers.
“Working Day” means the days that the Bank is open for banking operations, generally every day of the year, except Saturdays, Sundays and holidays of the United States of America and of Puerto Rico.
The MiDi Account is available only to a natural person resident in a country other than the Commonwealth of Puerto Rico (a “Non-P.R. Person”) who is at least 18 years of age. By accepting this Agreement, Depositor confirms that he or she is not a resident of the Commonwealth of Puerto Rico. Depositor agrees to notify the Bank promptly should the Depositor become a resident of the Commonwealth of Puerto Rico. Upon the Bank’s request, the Depositor agrees to provide additional documentation or attestations to verify residency status.
A MiDi Account may only be owned by one (1) individual accountholder (i.e., there are no joint accounts).
To assist the United States government to combat the financing of terrorism and money laundering activities, Federal law requires that financial institutions such as the Bank obtain, verify and record the information identifying each person who opens an Account.
What does this mean for you? When you open an account, you will be asked to provide your name, address, date of birth and other information which allows the Bank to identify you. The Bank may also request to see your identification card or other documents to verify your identify.
You certify that the information you submitted in connection with your enrollment in the MiDi App, and any other documents that you furnish to the Bank in connection with the Account, is complete, true and correct.
By opening an account with the Bank, you agree and affirm that you are not a prohibited individual or entity under any of the sanctions programs administered or enforced by the U.S. Department of Treasury, Office of Foreign Asset Control (OFAC).
The Depositor understands that the acceptance by the Bank is subject to the terms and conditions stipulated in this Agreement, and that the Depositor will provide the documents required by the Bank. The Bank reserves the right to close the MiDi Account without prior notice, within five (5) Working Days, when the Depositor does not submit the documentation required.
The Bank may require minimum or compensatory balances which the Depositor shall be notified of at the time the Account is opened; such balance amount may be modified by the Bank for which notification to the Depositor shall suffice.
To timely receive account disclosures, Account Statements, and other information from the Bank, you must ensure that the primary mobile phone number and e-mail address that you have provided to the Bank remain current at all times. You agree to promptly update any changes to the contact information provided in MiDi App with respect to the Account.
The Account is only accessible through via the MiDi App. Depositor acknowledges that the Account is not accessible through physical branches of the Bank, ATMs, or cash withdrawals. The following mobile banking services will be provided on the MiDi App:
View Account balance.
View Account Statements.
Initiate domestic and cross-border electronic funds transfers.
Access customer service.
Manage your debit card.
Customize account limits.
Close your Account.
The Bank shall accept deposits and withdrawals via (i) a debit card linked with the Account (the “Debit Card”); (ii) domestic ACH transactions and cross-border electronic transactions; and (iii) any other method the Bank makes available from time to time.
The transaction in the Account received before 2:30 pm. shall be reflected and be effective on the same Working Day on which they are received. If a transaction is received after 2:30 p.m. Local Time or on a non-Working Day, we will consider the transaction to be received and effective on the next Working Day. The Bank may open on Saturdays, Sundays and holidays but these days shall not be deemed Working Days and transactions made on such days shall be processed with the date of the following Working Day.
Deposits may be made by electronic transfer of funds or by any other method provided by the Bank from time to time. The deposits shall be received subject to the provisions of the applicable laws of the United States of America and Puerto Rico and the regulations adopted by the Bank.
The Bank shall verify the deposits and transfer of funds shall be duly adjusted in the event of errors.
The Bank shall accept in the Account deposits through the transfer of funds and other instruments issued in legal currency of the United States of America or other currency accepted by the Bank, prior to the discount of the expenses or commissions incurred by the Bank in the collection of such instruments.
The Bank may return, reject, or refuse to accept any deposit or part of a deposit.
All items credited to the Account are conditionally credited or paid subject to the Bank receiving its final payment and the Bank may charge said items to the MiDi Account, whether these have been returned or not, until the product of the same is received by the Bank.
In the event that the Bank determines that the transfer of funds deposited was unduly or fraudulently issued or negotiated, or in the event that a claim is receive to such effect, the Bank may debit, from any of the Depositor’s accounts with the Bank, the corresponding amount. In these events, the Bank shall notify the Depositor of the adjustment made.
Funds transferred through the MiDi App are intended for personal use and are not to be used for commercial purposes. The Bank reserves the right to create an electronic record of transactions on the MiDi App.
The Depositor acknowledges and accepts that if the Bank receives a citation, summons, order, injunction, embargo, lien or notification (hereinafter judicial requirement) with regard to the Account, the Bank shall act in accordance with such judicial requirement without incurring in any liability to the Depositor. The Depositor agrees to reimburse the Bank all expenses incurred by the Bank by reason of the judicial requirement as soon as notified by the Bank.
The Bank is authorized to pay and charge against the Account any transactions effected by the Depositor by any means, including through the MiDi App. The Account shall be charged in accordance with the terms of this Agreement when it receives notification by electronic means through the MiDi App. Transactions in the MiDi Account will be subject to any limitations imposed by the Bank.
The Bank reserves the right to refuse the payment of any amount from the Account that is not made in accordance with the usual practices of the Bank.
All transactions authorized by the Depositor or their authorized agent may be paid by the Bank to the recipient of funds without incurring in any liability if the funds are paid to the order of fictitious or nonexistent persons and that fact was known by the Depositor.
In the event of an improper refund by error of the Bank, the Bank shall respond to the Depositor only for real damages proven.
If the Bank does not complete a transfer to or from your Account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. Without limiting the foregoing, the Bank shall not have liability for losses or damages suffered by the Depositor or any other party:
If, through no fault of the Bank, there is not enough money in the Account to make the transfer.
If, through no fault of the Bank, a payment is improperly executed for any reason, including keystroke or typographical errors.
If, through no fault of the Bank, a payment is not completed due to there being insufficient funds in the sender’s account.
If a payment is not completed because the amount of the payment would be in excess of transaction limits imposed by the Bank.
If a transaction is not executed or is delayed because of a malfunction in the MiDi App that should have been apparent to the user at the time the user attempted to initiate the payment.
If, through no fault of the Bank, any merchant or financial institution refuses to honor the transactions.
If a transaction is not executed or is delayed due to circumstances beyond our control, such as a fire, flood, power outage, internet outage, war, or similar circumstance.
If an attempt is made by the Depositor or any other party to use the services set forth in this Agreement in a manner for which they were not intended, or in a way that is deemed by the Bank to be harassing or inappropriate (e.g., use of communication fields to communicate with another customer with no intention of processing a payment).
The list of examples set out in this Section is meant to illustrate circumstances under which the Bank would not be liable for a failure or delay in completing a payment, and is not intended to list all of the circumstances in which the Bank would not be liable.
The Bank is not obligated to accept Account transactions in events where due to force majeure or reasons beyond the Bank’s control prevent it from carrying out normal operations within the usual work schedules.
The Bank will not permit withdrawals from the Account if there are insufficient funds and the Bank will not be liable for dishonoring a transaction for insufficient funds. If there are insufficient funds in the Account to pay an item, the Bank will return the item unpaid. Nevertheless, you are responsible for the full amount of any overdraft incurred in the Account and may incur additional fees. You agree to reimburse the Bank for any losses the Bank occurs in collecting overdraft balances.
The Account shall be subject to the service and maintenance charges provided in the Bank’s Schedule of Fees, as may be updated from time to time.
The Depositor expressly authorizes the Bank to charge against its Accounts, without prior notification, any sum of money it owes to the Bank, all pursuant to the provisions of applicable laws. The omission or delay in the exercise of this right by the Bank shall not be construed as a waiver of such right. The Bank shall not be liable for the return of the instruments when the insufficiency of funds in the MiDi Account is due to the realization of the charge or charges aforementioned. It is agreed and understood also that any obligation of the Depositor with the Bank shall be deemed due by the issue of a writ of attachment against the Depositor and the Bank may apply that deposited in the Account or in any other Account for the payment of such obligation.
The Bank will not pay interest on the MiDi Account.
The Bank shall provide the Depositor a monthly Account Statement on the MiDi App, which shall reflect the amounts deposited and charged against the Account during the period corresponding to such cycle. Depositor agrees to accept electronic, rather than paper, Account Statements. The Depositor is obliged to immediately notify the Bank if the Depositor cannot access the Account Statement electronically. It is also the obligation of the Depositor to verify their Account Statements and promptly notify the Bank as to any error, unauthorized transaction or incorrect information, if there may be any.
The Depositor will also receive paperless Account Statements on the MiDi App. Depositor may view MiDi Account Statements by logging into the MiDi App. Otherwise, the Bank will not send the Depositor periodic statements via e-mail detailing the transactions conducted through the Depositor’s MiDi account, but transaction history may be accessed at any time through the MiDi App. The Depositor is responsible for comparing the statements for the MiDi Account to the transaction history in the MiDi account, and in the event of discrepancy, the Depositor must notify the Bank.
The Bank may close the Account at any time and must notify the Depositor of such action. If the balance remaining in the Account is US$10 or less, that balance will be retained by the Bank as an administrative account closure fee, and will not be returned to the Depositor. If the balance remaining in the Account upon closure exceeds US$10, such excess will be returned to the Depositor. In the event that deposits or transfers are received, the funds shall be returned to the Depositor via electronic funds transfer to the Depositor as soon as possible after subtracting any expense incurred in such process. Accounts closed due to overdraft or mishandling shall be reported to the collection agencies and may be informed to credit agencies. However, the Bank reserves the right to close the Account immediately, without prior notice to the Depositor and without ulterior liability, if there is suspicion of fraud.
The Account may be deemed closed when the Depositor withdraws the full balance and, after doing so, notifies the Bank its intention to close the Account, or absent such notification, if the Account reflects a zero balance on the day of the statement cut-off date.
The Bank reserves the right to close all Accounts which reflect an overdraft balance for thirty (30) calendar days or more, without prior notice to the Depositor.
The Depositor shall provide the Bank all required documentation to designate an agent, representative, and attorneys-in-fact or tutor to act on its behalf with all the rights and obligations under this Agreement. Once the designation is accepted, the Bank shall be released from all liability that may be imputed by reason of the acts of such agents or representatives.
All accounts which for a continuous period of five (5) years have no activity of withdrawals or payment of funds or of deposits shall be automatically deemed inactive and transactions shall not be accepted unless it is authorized by a Bank Official.
In the event of the death of the Depositor, the release by the Bank of the funds in the Account shall be subject to the provisions of law applicable to the jurisdiction where the Account is maintained, which is in effect at the time of the request for the payment of the release of the funds.
From time to time, originators that you authorize may send automated clearing house (“ACH”) credits or debits for your Account. With respect to each such transaction, you agree that the transaction is subject to the National Automated Clearing House Association Operating Rules and any local ACH operating rules then in effect (collectively, the “ACH Rules”). You agree that the Bank may rely on the representations and warranties contained in such rules and can either debit or credit your Account as instructed by such originator. Under the ACH Rules, funds transfers sent through an ACH are provisional and may be revoked prior to final settlement. You are responsible for notifying the originator that you have revoked your previous authorization for ACH debits. If the funds transfer is revoked prior to final settlement, the Bank may charge any Account for the amount credited. In such case, the payment shall not be deemed to have occurred and the Bank will let you know of such revocation in your monthly statement. To the extent that you claim that an ACH was unauthorized or there has been an error, see Section E “Unauthorized Electronic Funds Transfers” for a description of your rights and the process for resolving any suspected errors.
The MiDi App supports the initiation of ACH transfers from your account to other accounts using the MiDi App and to accounts at approved financial institutions. You may also receive payments in your account from other accounts using the MiDi App and accounts at approved financial institutions.
This service is intended to send money to friends, family and other people or businesses you trust. You should not use this service to send money to recipients with whom you are not familiar or you do not trust.
Once another account using the MiDi App initiates a transfer of money to your Account, you have no ability to stop the transfer. You agree and authorize us to initiate credit entries to your Account.
Most transfers of money to you from other accounts using the MiDi App will occur instantaneously. There may be circumstances where a payment takes longer. For example, in order to protect you, us, and other persons using the Midi App, we may need additional time to verify your identity or the identity of the person sending the money. We may also delay or block the transfer to prevent fraud or meet our regulatory obligations.
When you initiate a transfer, it is your sole responsibility to ensure that have on deposit sufficient collected funds to cover all transactions at the time they are presented for payment or are scheduled to be made. We may refuse to process any transfer request if sufficient available funds are not in your account to fund the transaction.
You understand that when you send a payment you will have no ability to stop it. You may only cancel a payment if the person to whom you send the money is not using the MiDi App. If you send money to a person using the MiDi App, the money is sent instantaneously to their bank account and cannot be cancelled or revoked.
In most cases, when the Depositor is sending or receiving money from another person using the MiDi App, the payment will be completed in minutes; however, there are circumstances when the payment may take longer. For example, in order to protect the Depositor and the Bank, the Bank may need additional time to verify the Depositor’s identity and location in connection with the MiDi services, or the identity and location of the person sending or receiving the money. During this period, and in any other circumstance when MiDi or the Bank needs additional time to verify payment details, (a) a hold may be placed on the MiDi Account for the amount of the payment, in the case of a sending transaction, or (b) the Depositor will not have access to the money being sent to the Depositor, in the case of a receiving transaction.
A payment initiated by or a payment to the Depositor may also be delayed or blocked to prevent fraud, to comply with regulatory requirements or to comply with requirements imposed by the sender’s financial institution or the Bank. If a payment initiated by the Depositor is blocked or subject to an unusual delay, the Bank will notify the Depositor by e-mail. If a payment initiated by another person using the MiDi App to the Depositor is blocked or subject to an unusual delay, the Bank, will notify the sender who initiated the payment by e-mail, but the Bank may not notify the Depositor. The Bank has no control over the actions of other persons using the MiDi App or other financial institutions that could delay or prevent the Depositor’s receipt of a payment from another person using the MiDi App. The Depositor should not rely upon another person’s claim that they have sent money through the MiDi App; if the Depositor is expecting a payment, he/she is responsible for protecting themselves by assuming that the payment has not yet been made until he/she confirms that the money has been received in the Depositor’s Account and is available for use.
The Bank has no control over the actions of other persons using the MiDi App or other financial institutions that could delay or prevent your money from being delivered to the intended person.
The Bank shall not be liable to you for any such transfers of money, including without limitation, (i) any failure, through no fault of us to complete a transaction in the correct amount, or (ii) any related losses or damages. We shall not be liable for any typos or keystroke errors that you may make when using the MiDi App.
The Bank may, at our sole discretion, impose or change the limits on the amount of money you can send or receive through the MiDi App.
To the extent that you claim that a transfer was unauthorized or there has been an error, see Section E “Electronic Funds Transfers” for a description of your rights and the process for resolving any suspected errors.
An international electronic fund transfer initiated from an individual’s Account for personal, family, or household purposes to a Recipient in a foreign country may be subject to the Electronic Funds Transfer Act and Regulation E (each, a “Consumer International Transfer”). Consumer International Transfers may include cash-to-cash transfers, cash-to-account transfers, international fund transfers, international ACH transfers, and certain prepaid card transactions. Consumer International Transfers may be subject to additional fees or charges by intermediary financial institutions either selected by the Bank or used by the beneficiaries’ receiving bank, or both, and Depositor is entitled to disclosure regarding fees charged by intermediary financial institutions that act as the Bank’s agent. To the extent that the provisions of this Section are different from any of the other provisions in this Agreement or any other disclosures made available by the Bank to you, the terms of this Section will govern for any Consumer International Transfers.
If your transaction is a Consumer International Transfer, the Bank is required to provide you with certain disclosures at the time you initiate such Consumer International Transfer. Any disclosures relating to Consumer International Transfers in connection with the MiDi App will be provided to electronically. If the Bank is unable to provide mandatory disclosures in a way that meets its regulatory obligations to provide such mandatory disclosures, the Bank will be unable to fulfill your instruction.
The Bank will rely on the information you provide in making a Consumer International Transfer on your behalf. You understand that it is your responsibility to provide the Bank with accurate information regarding the transfer, including the account number of the beneficiary of the fund transfer and where applicable, the number identifying the beneficiary institution, because payment will be processed based on the information provided by you. To the extent that you provide an inaccurate account number and/or inaccurate beneficiary institution identifier, you understand and acknowledge that that any losses resulting from the funds being credited to the wrong account will be your responsibility.
For certain Consumer International Transfers, you may be required at the time you initiate the request to provide the Bank with information regarding the currency in which the beneficiary account is maintained. You understand and acknowledge that the Bank will rely on your statement as to the currency of the beneficiary account in executing your instructions in accordance with the applicable provisions set forth in this Agreement. Furthermore, the Bank will not be responsible for any error in the information the Bank may provide you concerning the applicable exchange rates and the amount of funds to be received by the beneficiary should your statement be incorrect and a currency conversion occurs after the Bank sends your Consumer International Transfer request.
If your Consumer International Transfer request is received by the Bank on a non-Working Day or after 2:00 p.m. Local time on a Working Day, it may not be processed until the next Working Day.
You will be provided with more detailed information regarding fees applicable to your Consumer International Transfers at the time of your transfer request.
Transfers of funds on the MiDi App are generally instantaneous and therefore you should take care in connection with any Consumer International Transfers initiated from your Account as they will not be able to be cancelled or amended.
If you believe there has been an error or you need more information about your Consumer International Transfer, you agree that you must contact the Bank within 180 days of the date indicated by the Bank that the funds would be made available to the beneficiary of the transfer. At that time, the Bank may ask you to provide certain information, including the following: (i) your name, address and Account number; (ii) the name of the person receiving the funds, and if known, Depositor’s telephone number or address; (iii) the dollar amount of the transfer; (iv) the reference code for the transfer; and (v) a description of the error or why you need additional information. the Bank will determine whether an error has occurred within 90 days after you contacted us. If the Bank determines that an error has occurred, the Bank will promptly correct that error in accordance with the error resolution remedies and procedures under the Electronic Fund Transfer Act and Regulation E or in accordance with the laws of Puerto Rico.
The Bank may issue to the Depositor a Debit Card and a personal identification number (PIN) when you open your Account. The Debit Card may be issued in virtual or physical form. The Bank may occasionally decide not to issue a Debit Card or code to a Depositor. The Bank may suspend or terminate a Debit Card or code at any time without cause or notice. You agree to use your Debit Card only for valid and lawful purposes and that if your Debit Card is used for any other purposes you are responsible for such use
Point-of-Sale Transactions. You can use your Debit Card to purchase goods or services at any merchant location that accepts debit VISA (a “Point-of-Sale Transaction”). You may make Point-of-Sale Transactions up to the amount of available balance in your Account at the time of the Point-of-Sale Transaction. You authorize the Bank to debit your Account for the amount of the transaction, whether or not you have signed or sign any sales authorization slip. You acknowledge that all Point-of-Sale Transactions will constitute a simultaneous withdrawal from your Account, even though the transaction might not be paid from your Account until a later date. The Bank will not authorize a transaction if the Account available balance is not enough to pay that transaction and any fees.
ATM Transactions. You can use your Debit Card with linked accounts at participating automated teller machines (ATMs) to withdraw cash, transfer funds, and find out balances. You authorize us to charge any withdrawal by use of your Debit Card to your Account. The Bank will not authorize a transaction if the Account available balance is not enough to pay that transaction and any fees.
Stop Payment. You do not have the right to stop payment on any Point-of-Sale transaction or on any ATM transaction you perform or which is authorized by you.
Security. The PIN issued to you is for your security. The PIN is confidential and you are responsible for the safekeeping of your PIN. You agree not to disclose or otherwise make your Debit Card or PIN available to anyone. You must sign your Debit Card immediately upon receipt. For security reasons, please do not write your PIN on your Debit Card or keep it in the same location as your Debit Card. If you authorize anyone to use your Debit Card, card number or PIN, that authority shall continue until you specifically revoke such authority by notifying the Bank. If you fail to maintain the security of your PIN and the Bank suffers a loss, we may terminate your Account services immediately.
Statements. Transactions made with your Debit Card will be shown on the regular periodic statements which you will receive on the Account. You have a duty to examine your Account statements and to report to us any unauthorized activity on your Account, in accordance with Section E of this Agreement.
Foreign Transactions. Foreign Transactions are Debit Card transactions completed outside the Unites States through your Account. All debits to your Account will be posted in U.S. dollars. Transactions made in a foreign currency are converted in U.S. dollar amounts by VISA, using its then current currency conversion procedure and rate. The currency conversion rate used on the processing date may differ from the rate in effect on the transaction date or statement posting date. The Bank reserves the right to assess foreign transaction fees upon notice to you and you agree to pay such foreign transaction fees.
Limits on Dollar Amount and Frequency of Transactions. The Bank may, from time to time, limit the type, number, and dollar amounts of any withdrawals or transfers made with your Debit Card, notwithstanding the available balance of your Account.
Fees. You agree to pay all fees we charge in connection with your use of the Debit Card. The Bank reserves the right to charge fees for the issuance, reissuance, or use of the Debit Card or for the reinstatement of any Debit Card privileges that have been suspended, as well as an annual fee and per-item fee for each transaction, upon notice to you and you agree to pay such charges and fees.
Lost or Stolen Card. You agree to promptly notify the Bank in the event any Card is lost or stolen, or you suspect any other unauthorized use of any Card. See the Section E below entitled “Unauthorized Electronic Funds Transfers” for more information on your potential liability for such losses.
Termination, Suspension, or Limitation of Services. The Bank can terminate or suspend your right to use the Debit Card at any time with or without cause and without notice. The Bank reserves the right not to replace a lost or stolen Debit Card. If the Bank cancels the Debit Card or it expires, you agree to destroy it or return it to us immediately. If you are asked by a participating merchant or other institution that accepts the Debit Card to surrender an expired or cancelled Debit Card, you must do so. You may not use the Debit Card after it has expired or been cancelled, but you will remain responsible for all amounts owing to the Bank under this Agreement.
Use of your Debit Card. You acknowledge that you are the only person authorized to use the Debit Card issued for your Account. You agree that by disclosing your pin to someone, you are authorizing them to use you Debit Card in the same manner that you can use your Debit Card.
Refusal of Debit Card; Terminal Failure. The Bank has no responsibility for the failure of any ATM, participating merchant, financial institution, or other party to accept your Debit Card. We will not be liable if an electronic terminal fails to function for any reason, whether or not this malfunction is known to the Bank, nor will the Bank be liable if your Debit Card has been rejected or confiscated, either at an electronic terminal or through a merchant or financial institution, if previously reported lost or stolen and you attempt to use it.
Disputes. You agree to use your best efforts to settle all disputes about purchases you made using the Debit Card with the merchant who honored the Debit Card.
Debit Card Ownership. All Debit Cards are the property of the Bank.
Time of Transaction. All transactions made using the Debit Card are subject to the Bank’s processing schedules. Any transaction made on a holiday or after regular banking hours may be held by us until the next business day.
This section provides information on electronic funds transfers (“EFT”) governed by the Electronic Funds Transfers Act, such as purchases you make with your Debit Card and most electronic debit and credits to your account. Regulation E, which implements the Electronic Fund Transfers Act, is a regulation under the purview of the Federal Consumer Financial Protection Bureau that governs EFT affecting consumer accounts. Regulation E requires that any financial institution providing EFT services disclose to its customers not only the different kinds of services that may be obtained, but also their rights and liabilities as well as the rights and liabilities of the financial institution. These terms and conditions apply only to the extent that Regulation E requires.
NOTIFY US IMMEDIATELY if you believe your Debit Card, PIN, or Security Credentials (as defined below) have been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. Please call: 800 505 2754, or Write: info@bsji.com.
You could lose all the money in your Account (plus your maximum overdraft line of credit if applicable). If you tell us within two (2) business days after you learn of the loss or theft of your Debit Card, PIN, or Security Credentials, you can lose no more than $50 if someone used your card without your permission. If you DO NOT tell use within two (2) business days after you learn of the loss or theft or your Debit Card, PIN, or Security Credentials, and we can prove we could have stopped someone from using your Debit Card, PIN, or Security Credentials without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers that you did not make, including those made by Debit Card, code or other means, NOTIFY US AT IMMEDIATELY. If you do not tell us within sixty (60) days after the statement was mailed or otherwise made available to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time. 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 may access your account using your smart mobile device by downloading the MiDi App, which is available through the Apple App Store and Google Play. You must obtain, install, maintain, and operate all hardware and software to access and use the MiDi App, as set forth under the [MiDi Terms of Use]. The Bank is not responsible for any failure or errors resulting from the malfunction of your smart mobile device.
For purposes of this Agreement, “Security Credentials” means the information used to identify you when accessing the Account and MiDi services and may include user names, security devices, account numbers, passwords, tokens, biometric identifiers, and challenge questions and answers. Security Credentials may be assigned to you by the Bank or selected by you when enroll for an account, as may be updated from time to time.
WE ARE ENTITLED TO ACT UPON INSTRUCTIONS WE RECEIVE THROUGH THE MIDI APP REGARDING THE ACCOUNT UNDER THE SECURITY CREDENTIALS, AND YOU ARE LIABLE FOR ALL TRANSACTIONS MADE OR AUTHORIZED WITH SUCH SECURITY CREDENTIALS. WE HAVE NO RESPONSIBILITY FOR ESTABLISHING THE IDENTITY OF ANY PERSON WHO USES YOUR SECURITY CREDENTIALS. YOU AGREE THAT IF YOU GIVE YOUR USERNAME AND PASSWORD TO ANYONE OR OTHERWISE SHARE OR FAIL TO SAFEGUARD THE SECRECY OF ANY OF YOUR SECURITY CREDENTIALS, YOU DO SO AT YOUR OWN RISK SINCE ANYONE WITH INFORMATION REGARDING YOUR SECURITY CREDENTIALS WILL HAVE ACCESS TO THE MIDI SERVICES AND WILL HAVE THE ABILITY TO TRANSFER FUNDS FROM YOUR ACCOUNT OR MAKE CHANGES TO YOUR ACCOUNT PROFILE OR SETTINGS.
You agree to indemnify and release the Bank from any and all liability, and agree not to make any claim against the Bank or bring any action against the Bank, relating to its honoring or allowing any actions or transactions that were conducted under your Security Credentials or acting upon messages or authorizations provided to us using your Security Credentials.
You agree that we shall not be responsible for any loss or damage arising out of or resulting from the failure of any person to provide you with access to the MiDi App, whether caused by the equipment, software, the Bank, MIDI Technologies LLC, internet service providers, internet browsers, or the parties providing communication services to or from us to you. We are not liable for war, acts of government that may restrict or impair use of the MiDi App, hurricanes, floods or other disasters, nor shall we be responsible for any direct, indirect, special or consequential, economic or other damages relating in any way to the foregoing.
You authorize the Bank to complete transactions with respect to the Account in reliance on the Security Credentials. Any requests or instructions we receive from you through the MiDi App using your Security Credentials shall constitute writings with your signature as provided under all applicable law, and shall have the same force and effect as a writing signed by you. This includes, but is not limited to, inquiries, funds transfers, changes to accounts or services or any other communication you provide us through the MiDi App using your Security Credentials.
Your access to the MiDi App will be blocked in the event your Security Credentials are entered incorrectly after multiple unsuccessful attempts.
You understand the importance of your role in preventing misuse of your Account through the MiDi App and you agree to promptly examine your statement for your Account as soon as you receive it and review account transactions on a frequent basis. You agree to protect your personal information, including, but not limited to, your driver’s license and/or passport number, social security or equivalent identification number, and your Account information. You understand that confidential personal identification information by itself, or together with information related to your Account, may allow unauthorized access to your Account. Your Security Credentials are intended to provide security against unauthorized entry and access to your Accounts. Notwithstanding our efforts to ensure that the MiDi App is secure, you acknowledge that the internet is inherently insecure and that all data transfers, including electronic mail, occur openly on the internet and can potentially be monitored and read by others. Likewise, you are responsible for malicious code monitoring in your network (antivirus, Trojans, spyware, etc.) and for the security of your network, and should use firewalls, intruder detectors and any other security software needed to maintain a secured networking environment. We cannot and do not warrant that all data transfers utilizing the MiDi App, or e-mail transmitted to and from us, will not be monitored or read by others.
The Bank shall provide all notices and notifications pursuant to this Agreement, except when the laws or applicable regulations require otherwise, by e-mail or through MiDi App.
You authorize the Bank to make transfers of funds from time to time from your Account upon instruction of any individual using a correct account name, account number, Security Credentials, confidential identification number, or other information the Bank has on file about you or your account and whether given orally, by telephone, in person, in writing, through an ATM, point-of-sale terminal, or any other method. You acknowledge that the Bank has no method to determine whether a transaction conducted with the use of a valid account name, account number, Security Credentials or other information which the Bank has on file about you or your Account was proper and therefore authorize the Bank to complete any such transaction in which the Bank receives such identifying information.
You agree not to use your Account to process transactions that are prohibited by law, including, but not limited to, restricted transactions prohibited by the Unlawful Internet Gambling Enforcement Act of 2006. You agree that you are responsible for your tax obligations and any funds in, or to be deposited in, your Account are not proceeds from any criminal activity (including, but not limited to, tax crimes). Funds in, and any income derived from, your Account will be disclosed to the relevant tax authorities, if required by law.
The term of this Agreement shall start on the day on which a copy signed by the Depositor of this contract is delivered and executed by the Bank and shall finalize at 5:00 p.m. Local time, on the first anniversary of this document. Unless terminated by any of the parties, this Agreement shall be renewed for successive one-year terms. The Depositor may terminate this Agreement at any time. Said termination shall be effective on the second Working Day following the date of receipt of the respective termination notification (unless it specifically agrees to an anticipated termination), or that later date specified in such notification. However, the obligation of the Depositor to pay any amounts pending owed to the Bank under this Agreement, shall survive any termination. The Bank reserves the right to terminate this Agreement immediately by notifying the Depositor in writing of such termination.
Except where expressly prohibited by law, the Bank and the Bank’s affiliates, employees, officers, directors, agents and subcontractors shall not be liable for any indirect, special or consequential damages arising out of or related to this Agreement, including without limitation; (i) except as expressly provided for herein, liability for negligence on the part of the Bank or our affiliates, employees, officers and directors, agents, and contractors; (ii) damages for lost profits, goodwill or other similar losses; (iii) any claim arising from the installation, use or maintenance of the MiDi App, even if such damages were reasonably foreseeable and notice was given regarding such damages; or (iv) any claim arising from delay, interruption failure described in Section D.5. The limitation does not apply where the laws governing your Account prohibit it. Additionally, the Bank will not be liable to you for any loss, cost or expense you incur if, for instance:
There are insufficient funds in your Account to complete a transaction;
The funds in your Account are subject to legal hold or restriction or are otherwise not available for withdrawal;
Access to your Account has been blocked after we have received information regarding a reported lost or stolen card, a fraud event, or suspicious Account activity; or
The Bank has reason to believe a requested transaction or withdrawal is unauthorized or would violate the terms and conditions of this Agreement.
The Bank and our affiliates, employees, officers, directors, agents, and contractors shall be liable only for actual proven damages arising from the negligent failure to perform our obligations hereunder, provided however that in no event shall any of the forgoing be liable for losses or damages in excess of the amount of the transaction from which the claim arises.
THE FOREGOING SHALL CONSTITUTE YOUR EXCLUSIVE REMEDIES AND THE ENTIRE LIABILITY OF THE BANK AND OUR AFFILIATES, EMPLOYEES, OFFICERS, DIRECTORS, AGENTS OR CONTRACTORS, IN CONNECTION WITH YOUR USE OF YOUR ACCOUNT AND THE MIDI APP.
Except to the extent we fail to exercise ordinary care or to comply with the Agreement, you agree to indemnify and hold the Bank harmless from all claims, demands, losses, liabilities, judgments, and expenses (including attorney’s fees and expenses) arising out of or in any way connected with our performance under the Agreement. You agree this indemnification will survive termination of the Agreement.
Except as otherwise set forth herein, you agree to indemnify and hold harmless the Bank and any of our affiliates, employees, directors, officers, agents or contractors, who provide services in connection with your Account from and against any and all losses, liabilities, claims and costs (including reasonable attorneys’ fees) that are in any way connected with (i) your use of the Account, the MiDi App and any related services, including, without limitation, attorneys’ fees and other costs incurred in collection of any overdraft balances or other amounts due in connection with this Agreement, any transactions initiated by you or for which you are the recipient, (ii) any intentional or unintentional breach by you of any terms of this Agreement or any other supplemental agreements or disclosures governing your Account, (iii) inaccurate or erroneous information provided by you, (iv) collecting any amounts you owe to the Bank or our affiliates under this Agreement, (v) responding to any third‐party demands or claims against or related to you or your Account, (vi) any alleged violation of the law by you, or (vii) any instructions provided by you, provided the Bank follows those instructions and has reasonable procedures in place to prevent unauthorized transactions. This indemnification is in addition to, and does not limit, any rights that the Bank may have to seek indemnification or recourse from you.
The Depositor may not assign its interests or rights provided in this Agreement without the prior written consent of the Bank, and thus any assignment shall be deemed null.
This Agreement, along with the other MiDi Documents constitute the complete and exclusive understanding between the Bank and the Depositor, and replaces any prior agreements between the parties with respect to the MiDi Account through the MiDi App.
This Agreement is of a binding nature and (i) shall inure to the benefit of the Bank and its successors and assigns, whether by merger, consolidation or otherwise; (ii) the Bank may transfer the Account, this Agreement and any of its obligations hereunder to its successors and assigns without further consent from the Depositor; (iii) the terms of this Agreement shall be binding upon your heirs, executors, administrators, successors, and assigns.
The waiver by the Bank or the Depositor to any term or provision established in this document shall not be construed as a waiver to the rest of the Agreement.
The Depositor hereby authorizes the Bank to charge the Account according to the Depositor’s instructions for wire transfers and related fees.
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