PayCash Terms & Conditions
TERMS & CONDITIONS
THIS DOCUMENT SETS FORTH THE TERMS AND CONDITIONS UNDER WHICH CYPHERMINT INC. ("CYPHERMINT") OFFERS YOU ACCESS TO CYPHERMINT PayCash SYSTEM™ ("SYSTEM"), A SERVICE THAT FACILITATES CUSTOMER TO MERCHANT FINANCIAL TRANSACTIONS OVER THE INTERNET.
THESE TERMS AND CONDITIONS AFFECT YOUR RIGHTS AND YOU SHOULD READ THEM CAREFULLY. BY CLICKING THE "ACCEPT" BUTTON YOU AGREE THAT YOU HAVE READ AND UNDERSTAND THIS AGREEMENT AND THAT YOU WILL BE BOUND BY AND COMPLY WITH ALL OF ITS TERMS. YOU SHOULD PRINT A COPY OF THESE TERMS AND CONDITIONS AND RETAIN IT IN YOUR RECORDS FOR FUTURE REFERENCE.
I. DESCRIPTION OF THE CYPHERMINT PayCash SYSTEM
1. The Cyphermint PayCash System ("System") is an online payment service that allows users to send and receive electronic money over the Internet.
2. By downloading and installing the Cyphermint Wallet software to a computer ("Wallet"), a user may open a personal Cyphermint account ("Account") and add funds to or withdraw funds from the Account whenever he or she pleases. The Wallet is maintained on the user's personal computer while the Account is maintained at Cyphermint's processing center.
3. The System can transfer funds to a merchant enrolled in the System. In order to transfer funds using your Wallet, you must have those funds available in your Wallet.
4. Cyphermint is not a bank, trust company, escrow company, or depository institution. The funds in an Account are not a deposit, are not insured by the Federal Deposit Insurance Corporation and do not bear interest. Cyphermint is an Internet payment processing service, and Cyphermint is acting only as an agent of its customers and a custodian of their funds. Cyphermint aggregates the funds of all customers and deposits them in a non-interest bearing account at BankFirst, a subsidiary of BankFirst Corporation, Inc.
5. Cyphermint may place limits on the amount and frequency of payments processed to merchants, the amount you may spend at one time, the amount you may hold in your Account, and the amount you may remove, transfer or receive. At the present time, Cyphermint restricts the aggregate amount of transactions that may be conducted during any one day to $1,999.00 whether transferred though a single Wallet or multiple Wallets. There are currently no restrictions on the amount you may have in the Account.
6. Once you have successfully enrolled in the Cyphermint PayCash System you are considered to be a member ("Member") and to hold a membership ("Membership") in the System.
7. An Account history of all transactions conducted by you on the Cyphermint Pay Cash System ("History") is maintained by Cyphermint and is available for your review when you log on to your Wallet. The Account History is updated automatically and serves as the "Periodic Statement" of your Account.
II. ELIGIBLE USERS AND REGISTRATION INFORMATION
1. To enroll in the CYPHERMINT PayCash SYSTEM you must be at least 18 years of age. You agree to provide Cyphermint with true, accurate, complete, and current registration information. You agree to comply with the terms and conditions of this agreement, and to be responsible for compliance with applicable laws and regulations.
2. In compliance with federal law and regulations and in order to protect against fraud, we are required to ask you to provide your name, address, phone number, e-mail address, birth date, and Social Security Number or Taxpayer Identification Number. By enrolling, you agree to provide true, accurate personal information and update your information as circumstances change. Please be advised that this information will be subject to verification. It will be collected during the Wallet installation and will be stored in an encrypted form. We will gather this information in order to register you as a user of the site, provide products or services you have requested, improve our website offerings, and answer your inquiries or questions.
3. If any information you provide is found to be untrue, Cyphermint shall have the right to terminate your use of the System. If you willfully supply false information regarding your identity, you may be subject to federal penalties.
4. In compliance with federal law and regulations, Cyphermint may be required to collect more identifying information in the future. If you choose not to provide Cyphermint with further information when asked, Cyphermint shall have the right to terminate your use of the System.
5. Cyphermint will protect the privacy of your personal information in accordance with the provisions of federal privacy laws and regulations. We will not share, sell or rent your personal information.
III. CONDITIONS OF USE
1. The fees charged for Cyphermint PayCash System transactions will be as follows:
2. You acknowledge that once funds are transferred from your Wallet to a recipient, it is nonreversible and non-refundable unless we are responsible for an error.
3. You agree to pay Cyphermint all service and use fees, that Cyphermint charges as disclosed in this agreement or on the Cyphermint site. You also agree to pay all federal, state and local taxes applicable, if applicable, to your use of Cyphermint services.
4. You agree to allow Cyphermint to debit your Account for all transaction fees owed automatically as part of each transaction. If the funds in your Account are insufficient to cover transaction fees, you agree to pay Cyphermint such amount immediately upon Cyphermint's demand. You also agree to pay for all costs associated with our collection of amounts owed to Cyphermint, including reasonable attorney's fees, court costs and collection fees.
IV. RESPONSIBILITIES OF CYPHERMINT USERS
1. You are responsible for obtaining Internet access to the Cyphermint Pay Cash System. That access may involve third party fees (such as an Internet service provider). You are responsible for those fees. In addition, you must provide and are responsible for all equipment necessary to access the System.
2. If you add funds to your Cyphermint Account using a processing company you are responsible for any fee that service provider might charge. Also, you acknowledge that Cyphermint may hold funds for clearance.
3. During the Wallet installation process you will create your personal Cyphermint Account and you may select a password for your Cyphermint Wallet. The password is essential in protecting your Cyphermint money. Cyphermint does not collect or maintain passwords. Cyphermint is not responsible for the safe keeping of your password or for any losses you may incur as a result of the misuse of your password.
4. You agree to provide Cyphermint with a current functional personal e-mail address. Additionally, you agree to accept any agreements, notices, periodic statements, amendments to this agreement, or other communications regarding your Account electronically to the e-mail address you provide. All communications will be considered to be "in writing." You also agree that we may respond to you with an electronic communication to any electronic communication you send to us. Cyphermint assumes no obligation to provide communications in paper format. You agree that we may transfer funds from your Wallet and Account that you have electronically authorized, but not signed.
5. Password protection and Backup of the Wallet are your responsibility. Upon completion of a transfer, your Account History will be updated with information regarding the transfer. No printed receipts are issued. You should back up or print your Account History information to assist with any resolution of disputes that may occur.
6. You agree that you will not use Cyphermint to make payment for illegal products or services. You will not use the System for any unlawful or fraudulent activity or your Membership may be suspended or terminated.
7. Cyphermint is not responsible for determining whether the amount of money being sent is correct for any underlying transaction or is actually owed to the recipient. Any disputes that arise between yourself and a merchant relating to payments made or any other aspects of transactions are not the responsibility of Cyphermint.
8. Cyphermint makes no guarantees regarding purchases paid for products or services. You acknowledge that Cyphermint does not ensure the quality, safety or legality of the merchandise received, nor that the seller will even ship the merchandise. You agree to hold Cyphermint harmless for any loss or expense it incurs as a result of such purchases or disputes. Cyphermint may discontinue service to any merchant or any third party, at any time, with no liability to you.
9. It is your responsibility to ensure that a single Wallet is not split between two or more computers. A split Wallet may cause a system failure and loss of your Cyphermint funds. To protect yourself against this type of loss, you should not attempt to install the same Wallet on two computers. If you wish to move your Wallet to another computer, you must create a copy of your Wallet and delete it from the original computer before installing it on the new computer. Or you must install the Wallet on portable media, such as a USB pen drive, portable hard drive, etc.
10. You may download more than one Wallet on the same computer; however, you may not have multiple Wallets running simultaneously on the same computer.
11. If you do not access your Account for a period of 3 years, your Account will be considered inactive and will be terminated. We will use the information you provided to return any unused funds to you. If we are unable to locate you, your funds will be subject to applicable state laws with regard to escheat of unclaimed property. A withdrawal fee of 2% of the funds transferred plus 50 cents will be assessed.
12. You may close your Account at any time by clicking on the "Remove Funds" tab in your Wallet. Any funds we are holding in custody for you at the time of closure will be paid to you by check. It is your responsibility to delete the Wallet from your computer.
13. Funds being held in the Account of a deceased person will be returned upon our receipt of documents legally permitting us to release the funds. Depending on the circumstances, these documents may include: certified copy of Death Certificate, Decree from Probate Court or documents evidencing that estate taxes are paid or not owed.
14. You agree to hold Cyphermint, its officers, directors, employees and affiliates harmless from any claim, action, demand, loss or damages (including attorneys' fees) made or incurred by any third party arising out of or relating to your use of the System.
15. You should not disclose or share your password with any third parties.
V. LIABILITY OF CYPHERMINT USERS
1. Except as provided below, your liability for unauthorized transfers made from your Wallet Account is limited to the following: (a) If you notify Cyphermint within two (2) business days after learning of the loss or theft of your Wallet password, your liability is limited to $50. (b) If you fail to notify Cyphermint within two (2) business days after learning of the loss or theft of your Wallet password, you may be liable for no more than $500. (c) If you fail to notify Cyphermint of an unauthorized electronic fund transfer that appears on your periodic statement within sixty (60) days in accordance with the Errors and Disputes section below at (VI), you may be liable for an unlimited number of unauthorized transfers that occur after the close of the sixty day reporting period.
2. To notify Cyphermint of an unauthorized transfer, please see the instructions at Section VII "Errors and Disputes" below.
3. Cyphermint shall not be liable for damages of any kind arising out of or in connection with the Cyphermint PayCash System service or the System website, except as provided herein.
VI. RIGHTS/RESPONSIBILITIES OF CYPHERMINT
1. Protecting the privacy of our customers is our top priority. We will disclose information to third parties about your Account or the transfers you make only when it is necessary for completing transfers, to verify the existence and condition of your Account for a third party, such as a merchant, to comply with government agency or court orders, or if you give us your written permission.
2. Cyphermint reserves the right to verify any of the information you provide.
3. Cyphermint reserves the right to hold funds beyond the standard distribution periods for any transactions for any reason it deems necessary.
4. Cyphermint shall have the right to terminate your Account, reject or reverse any transactions you initiate, and/or restrict or condition your right to send or receive Cyphermint dollars without notice and without limitation at any time and for any reason, including but not limited to (a) providing us with inaccurate or falsified information about you or your Account; (b) misuse of your Account or Wallet; (c) the unauthorized use or disclosure of user name(s) or password(s), (d) using someone else's Account or Wallet; (e) using (directly or indirectly) your Account or Wallet for any unlawful purpose; (f) suspicious activity; and (g) tampering, hacking, modifying or otherwise corrupting the security or functionality of the System .
5. Your Cyphermint PayCash System Account is fraud proof. This is one of the pillars of the design of the Cyphermint PayCash System -TOTAL PRIVACY over the Internet! However, if you suspect your Account has been compromised, please inform Cyphermint as soon as possible.
6. Cyphermint reserves the right to amend the terms of this agreement at any time, with or without prior notice to you, except as required by law. If the amended agreement is unacceptable, you may terminate your Membership.
7. Cyphermint reserves the right to terminate this agreement, access to its website, or access to the System at any time, with or without prior notice to you, except as required by law.
8. Cyphermint will not be responsible for errors or liable if any of the following occurs:
9. CYPHERMINT INC, reserves the right to recover funds for NSF checks. Should your check be returned for NSF (non-sufficient funds), your account will be debited for the check's face amount plus a $25 returned check processing fee.
VII. ERRORS AND DISPUTES
1. If you have a question or believe an error occurred when you requested that money be sent to or from your bank account and your Cyphermint PayCash System Account, you should contact the financial institution that holds your bank account as soon as possible to preserve any rights to dispute the transaction.
2. If you believe that there was an error in processing a transaction, in accessing your Account(s), or if you need additional information about the transaction, please contact us as soon as possible. You may notify us of the problem over the telephone, but if you do so, you must also send an email within ten (10) business days or write us at our mailing address. We must hear from you within sixty (60) days after we first posted the transaction for which an error is claimed to your Account. If we do not hear from you within this sixty (60) day period, you may be held liable for the full amount of the unauthorized transfer. Because of this policy, it is important that you check your Account regularly to make certain that entries are correct.
3. When informing us of an error:
4. We will determine whether an error occurred within ten (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 forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your Account within ten (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 compliant or question in writing and we do not receive it within ten (10) business days, we may not credit your Account.
5. For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new accounts, we may take up to twenty (20) business days to credit your Account for the amount you think is in error.
6. We will tell you within three (3) 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.
7. You agree that any dispute between us shall be resolved by binding arbitration under the rules of the American Arbitration Association. In such case, the fees and costs of the arbitrator will be jointly shared by the parties. Each party will assume responsibility for its own expenses associated with arbitration, regardless of who prevails.
VIII. MISCELLANEOUS
1. This Cyphermint PayCash System agreement is governed by Federal laws and the laws of the Commonwealth of Massachusetts, without regard to its choice of law provisions.
2. Cyphermint's business days are Monday through Friday, 9 a.m. to 5 p.m. Saturdays, Sundays, and federal holidays and holidays recognized in the Commonwealth of Massachusetts are not considered business days.
3. Cyphermint will not be liable for any loss resulting from a cause outside of its direct control, including, but not limited to, failure of electronic or mechanical equipment or communication lines, telephone or other interconnect problems, computer viruses, "hacking", theft, operator errors, unauthorized access, or environmental conditions.
4. "Cyphermint.com", "PayCash", "Cyphermint PayCash System" and all related logos, products and services described in this website are either trademarks or registered trademarks of Cyphermint, Inc. and may not be copied, imitated or used, in whole or in part, without the prior written permission of Cyphermint. All content on the website, including all text, graphics, icons, design, and software are protected by United States and International Copyright laws and this agreement. You may access and use the copyrighted works for personal use only. Distribution, reproduction, transmission, republication, modification display, or any other use of the material without the express written permission of Cyphermint is strictly prohibited.
5. Cyphermint may contain links to other Internet sites, resources, and third party websites. Cyphermint takes no responsibility for the accuracy of the information set forth and disclaims any liability to you in connection with such websites.
6. You represent and warrant that all information you provide to us is accurate, complete, and current information for eligibility, application, registration, payment and all other purposes. If, at any time, any information you have provided us becomes inaccurate, you will promptly provide us the additional information necessary to make the information you previously provided true and complete in all material respects. You are responsible for all statements made and acts that occur through the use of your Account or using your password, and for all instructions entered through and under your Account or using your password.
7. Your right to use the Account is not transferable. Any Account, password or other service, or right given to you to obtain information, documents, or services is not transferable.
8. You are responsible for compliance with applicable laws, including all federal, state, and local laws and regulations.
9. EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, ALL WARRANTIES, EXPRESS OR IMPLIED, ARE DISCLAIMED (INCLUDING, BUT NOT LIMITED TO, THE DISCLAIMER OF ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE). CYPHERMINT IS NOT LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING DAMAGES FOR LOSS OF BUSINESS, LOSS OF PROFITS, LITIGATION, OR THE LIKE), WHETHER BASED ON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE NEGATION OF DAMAGES SET FORTH ABOVE IS A FUNDAMENTAL ELEMENT OF THE BASIS OF THE BARGAIN BETWEEN CYPHERMINT AND YOU. THIS SERVICE WOULD NOT BE PROVIDED WITHOUT SUCH LIMITATIONS.
