As of 07/24/2015
This document constitutes the agreement (“Agreement”) between you and Four Oaks Bank & Trust Company (“Four Oaks,” “we,” or “us”) outlining the terms and conditions under which the GiftFly Account (“Account” or “Special Purpose Account”) will be opened on your behalf and its relationship to GiftFly LLC (“GiftFly”). By opening this Account, you agree to be bound by the terms and conditions contained in this Agreement.
We may amend this Agreement at any time by posting a revised version on the GiftFly website(s), www.GiftFly.com (“Revised Agreement”). The Revised Agreement will be effective at the time we post it.
To help the government fight the funding of terrorism and money laundering activity, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means to you: When you open an account we may ask for your address, date of birth, social security number and/or other information that allows us to identify you.
By opening this Account, you represent and warrant to us that: (1) you are at least 18 years of age (or 19 if you reside in a state where the age of majority is 19 years old) and (2) you are a U.S. citizen or legal alien residing in one of the fifty (50) states, the District of Columbia or Puerto Rico.
A Special Purpose Account will be established for the purpose of holding funds and maintained until: (i) the funds are delivered to the beneficiary you name; (ii) the funds are returned to you; or (iii) your account becomes dormant with a zero balance in accordance with the GiftFly Terms of Service. Your Special Purpose Account is a limited purpose account and will not bear interest. You can make electronic fund transfers to and from your Special Purpose Account only as provided in this Account Agreement. You may not write checks against it or make in-person withdrawals at our offices or other locations. You may at any time direct that your Special Purpose Account be closed and that any funds remaining in your Special Purpose Account, after the deduction of any accrued fees or payments, be returned to you. You may not use your Special Purpose Account for any illegal purpose or in connection with internet gambling transactions.
You designate GiftFly as your agent for purposes of providing funds transfer and disbursement instructions to us in accordance with this agreement and the GiftFly Terms of Service. We may act upon the instructions provided by GiftFly, without inquiry, as though such instructions came directly from you. You authorize us to provide information about your Account to GiftFly to make payment(s) in the specific amount directed by you or GiftFly.
You will be required to name a beneficiary for your Account (the “Recipient”) in order to designate who will receive the funds held in your Account ( the “Funds”). Once the Recipient has performed the required obligations in accordance with the rules applicable to the GiftFly program, we will transfer some or all of your Funds to an account pre-designated by the Recipient.
You are responsible for keeping track of your Account’s available balance. Statements of transactional history in electronic format will be made available to you free of charge at www.giftfly.com. You agree to notify us of any erroneous, improper or unauthorized transactions involving your Account funds no later than 60 days after the first statement on which the problem or error appeared. You must tell us your name and account number (if any), describe the error or transfer you are unsure about, and explain why you believe it is an error or you need more information, and tell us the dollar amount of the suspected error. We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. We will tell you the results within three business days after completing our investigation. You may ask for copies of the documents that we used in our investigation.
You agree that in no event will our agents or we be liable for special, incidental, consequential, exemplary or punitive damages unless applicable law provides otherwise.
Unless otherwise required by law, an action or proceeding by you to enforce an obligation, duty or right arising under this agreement or by law with respect to your Account funds or the Transfer Service must be commenced no later than one (1) year after the day the cause of action accrues.
We may amend this Agreement at any time by posting a revised version on the GiftFly website at www.GiftFly.com (“Revised Agreement”). The Revised Agreement will be effective at the time we post it. We will give you reasonable notice by any method required by law.
We may close this Account at any time upon reasonable notice to you and tender the Account balance personally or by mail. Items presented for payment after the account is closed may not be honored. When you close your Account, you are responsible for leaving enough money in the Account to cover any outstanding items to be paid from the Account. Reasonable notice depends on the circumstances and, in some cases such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or Account closure becomes effective. For instance, if we suspect fraudulent activity with respect to your Account, we might immediately freeze or close your Account and then give you notice. You agree to keep us informed of your current address at all times. Notice from us to any one of you is notice to all of you. If we have notified you of a change in any term of your account and you continue to have your Account after the effective date of the change, you have agreed to the new term(s).
You agree that we may at any time assign our rights and obligations under this Agreement to any assignee and in such event this Agreement will remain in full force. This Account may not be transferred or assigned by you without our prior written consent.
This Agreement sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to its subject matter and supersedes any prior or contemporaneous understandings or agreements with respect to their subject matter.
If any of the terms of this Agreement are invalid, or declared invalid by order of court, change in applicable law, or regulatory authority, the remaining terms of this Agreement shall not be affected and this Agreement shall be interpreted as if the invalid terms had not been included in this Agreement.
This Agreement will be governed by federal law and, to the extent federal law does not apply, by the laws of the State of North Carolina.
If we receive conflicting instructions from you and GiftFly, we will follow your instruction. If we are uncertain regarding the ownership of Special Purpose Account funds, your identity, or the authority of any person to give Special Purpose Account instructions, or if we believe that a Special Purpose Account transaction may be fraudulent or may violate any law, or if the instructions we receive appear, in our sole discretion, to be unclear in any way, we may: (i) freeze your Special Purpose Account and refuse any further transactions until we receive written proof, in form and substance satisfactory to us, of each person’s right and authority over the Special Purpose Account funds, (ii) refuse the transaction in question; (iii) require your signature for the transaction in question; (iv) request instruction from a court of competent jurisdiction; or (v) continue to honor previous instructions received from you (directly or through GiftFly) pending confirmation or clarification. We are not obligated to assert such rights or to notify you or GiftFly in advance of exercising such rights.
This agreement is subject to Article 4A of the Uniform Commercial Code – Fund Transfers as adopted in the state in which you have your Account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution or a beneficiary, we and every receiving or beneficiary financial institution may rely on the identifying number to make payment. We may rely on the number even if it identifies a financial institution, person or account other than the one named.
You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise made as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a payment order to credit an account you have with us by wire or ACH, we are not required to give you any notice of the payment order or credit.
If you have arranged to have direct deposits made to your Special Purpose Account at least once every 60 days from the same person or company, we will credit the amount of the transfer as of the date the funds for the transfer are received. Funds that are deposited to your Special Purpose Account by debit entry from your Primary Account may be subject to a hold of up to six (6) days to ensure good funds. A deposit credit is only temporary and is subject to potential reversal until final payment is confirmed. If we give you provisional credit for an automated clearing house (ACH) transfer, but do not receive final payment, you agree to pay us the full amount by other means without prior notice or demand.
Tell us at once if your statement shows transfers that you did not make by writing us at www.giftfly.com/info. If you do not tell us within 60 days after the first transfer, you may not get back any money you lost after the 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.
We can accept postdated deposit checks without losing any of our rights under this agreement. (A postdated check is a check dated later than the day it was actually presented for deposit.) We are under no obligation to hold a postdated check and we reserve the right to process every item presented as if dated the same date received by us or our check processor unless you give us adequate notice and a reasonable opportunity to act on it. Except where such notice and opportunity is given, you may not hold us liable for depositing any postdated check. You agree not to send us checks marked “paid in full,” “without recourse,” or similar language. If you send such a check, we may accept it without losing any of our rights under this agreement. All notices and written communications concerning postdated checks, restricted endorsement checks (including any check or other payment instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount) or any other disputed, nonconforming or check, must be mailed or delivered to: BancBox Customer Disputes, P.O. Box 25539, San Mateo, CA. 94402.
If we do 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. However, there are some exceptions. We will not be liable, for instance, through no fault of ours, if you do not have enough money in your account to make the transfer or circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
We shall not be liable for any loss, expense, failure to perform, or delay caused by failure of communication systems, accidents, strikes, fire, flood, war, riot, civil strife, terrorist attack, earthquake, power outage, funds transfer system or government rules, acts of third parties, or any cause that is beyond our reasonable control.
You authorize us to listen to and record telephone calls between you and us to evaluate the quality of our services or for any other lawful purpose.
You agree that we may contact you as provided in this paragraph. We may contact you for any lawful reason, including for the collection of amounts owed to us and for the offering of products or services in compliance with our Privacy Policy in effect from time to time. No such contact will be deemed unsolicited. We may contact you at any address or telephone number (including wireless cellular telephone or ported landline telephone number) as you may provide to us from time to time. We may use any means of communication, including, but not limited to, postal mail, electronic mail, telephone or other technology, to reach you. You agree that we may use automatic dialing and announcing devices which may play recorded messages. We may also send text messages to your telephone. You may contact us at any time to ask that we not contact you using any one or more methods or technologies.
Telephone GiftFly at 1-800-322-6201 or write us at www.giftfly.com/info as soon as you can, if you think your account balance is wrong or if you need more information about a transfer listed on the account. We must hear from you no later than 60 days after the FIRST day on which the problem or error appeared in your account.
We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.
For errors involving new accounts, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
By electronically signing, you agree that we may provide all disclosures, statements, notices, privacy policies, and other communications related to the Account Agreement, the Transfer Service or your Account, including disclosures required by law (collectively, “Electronic Communications”) electronically. We will notify you when a new Electronic Communication has been posted on our website at www.GiftFly.com. When you receive the notification, you agree to promptly visit our website to view the Electronic Communication. You may log in to our website using the login and “Password” information you established at the time of purchase. “Password” means the security code and/or other method of authentication that you are provided to access Special Purpose Account information electronically. You agree not to disclose your Passcode to others and to keep it secure. You also agree that your use of your Passcode constitutes, and you intend it to constitute, your electronic or digital signature on any document or record where your signature is requested or required. By logging in to our website and using your Passcode, you demonstrate that you can access information that we post on our website.
Upon your request, we will send you a paper copy of any material provided electronically pursuant to this consent. There is no charge for initial paper copies. You have the right to withdraw consent but if you do, we may terminate the Account Agreement. To withdraw your consent to electronic disclosures, update your electronic mail address or request paper copies, email www.giftfly.com/info.
To access and retain communications, you must meet at least the following requirements: (i) a personal computer or equivalent device capable of connecting to the Internet via dial-up, DSL, Cable Modem, Wireless Access Protocol, or equivalent, and that supports the following requirements; (ii) an Internet Browser that supports HTML 4.0 and SSL-encryption, such as Google Chrome 2.0 or later; and (iii) a means to print or store notices and information through your browser software. All communications in either electronic or paper format from us to you will be considered “in writing.” Please print or download a copy of any Electronic Communication that is important to you for your records.account-holder