Legal

There are a few legal documents that are central to life at Vank, LLC. — to us, our customers, our prospects, our partners, and just plain old users of our technologies. To make it easy to find the information you’re looking for, we’ve assembled them all here under one roof and provided you with a quick rundown below of what you’ll find in each one.

PRIVACY POLICY

EFFECTIVE DATE

December 11, 2023

OUR COMMITMENT TO PRIVACY

VankPay, a Vank LLC service, knows that you care about how your personal information is used and disclosed. We take your privacy seriously. Our primary goal is to provide you with exceptional service.

We understand that you may have questions or concerns regarding your personal information and how it will be used. To make this Privacy Policy easy to find, we make it available on the home page of VankPay’s website at VankPay.com (the “Website”) and through our mobile applications. You may also email us at privacy@VankPay.com with any privacy-related questions you have.

APPLICABILITY OF PRIVACY POLICY

This Privacy Policy applies to all information we collect through our Services from current and former VankPay users. “Services” means any products, services, content, features, technologies, or functions, and all related websites, applications, and services offered to you by Vank, LLC. in connection with a VankPay account. When you are no longer our customer, we continue to disclose your information as described in this Statement. This Statement only applies to the Services and does not apply to the practices of any other VankPay service.

VankPay is always improving. As the Services evolve, we may occasionally update this Privacy Policy to reflect changes to our business, Services, or applicable laws. If the revised version requires notice by applicable law, we will provide you with 30 days prior notice by posting notice of the change on the “Privacy Policy” page of our website and mobile apps, the revised Privacy Policy will be effective as of the published effective date.

Throughout this Privacy Policy, we use the term “personal information” to describe information that can be associated with a specific person and can be used to identify that person. We do not consider personal information to include information that has been aggregated and/or anonymized so that it does not identify a specific person.

THE INFORMATION WE COLLECT

When you visit the website or use one of our mobile applications or other Services, we collect your IP address, and standard web log information, such as your browser type and the pages you accessed on our website. We also may collect Geolocation Information (defined below). If you do not agree to our collection of this information, you may not be able to use our Service. If you open a VankPay account, we will collect the following information from you:

  • Account Information: text-enabled cellular/wireless telephone number, machine or mobile device ID, and other similar information.
  • Identification Information: your name, street address, email address, date of birth, and Social Security number (“SSN”) (or other government-issued verification numbers).
  • Device information about you: (a) from your mobile device or computer such as your device type, machine or mobile device identification number, Geolocation Information, time zone, language setting, browser type, and IP address, and (b) from third parties for purposes of transaction processing, identity verification, fraud detection or prevention, and other similar purposes. For fraud prevention purposes, we also may link your machine ID with the machines of others who use your same payment cards.
  • Geolocation Information: information that identifies with reasonable specificity your location by using, for instance, longitude and latitude coordinates obtained through GPS, Wi-Fi, or cell site triangulation. We will collect this data for fraud and risk purposes. In addition, some of our Services may ask you for permission to disclose your current location within your device settings to enhance our Services. If you do not agree to our collection of Geolocation Information, our Services may not function properly when you try to use them. For information about your ability to restrict the collection and use of Geolocation Information to enhance our Services, please refer to the settings available on your device.
  • Social Web Information: with your consent, we may also collect information from social networks, such as your Facebook Connect credentials and email account information. If you authorize Facebook Connect, the plug-in allows us access to your email address, Facebook friends list, and public profile (including profile picture). Social and e-mail contact information helps you connect to friends and contacts for invitation and payment transmission purposes (as well as helping us improve the Services and fight fraud).
  • Financial Information: bank account online login information, bank account and routing numbers, and credit cards linked to your VankPay account. VankPay does not disclose financial information with third-party social networking services such as those listed in the prior bullet.
  • Biometric Information: when you consent to the user experience, we collect face scans to authenticate your account and manage fraud and risk.
  • Audio, electronic, visual, or similar information: Call recordings when you talk to customer service or sales.
  • Professional or employment information – including business information, contact emails, phone numbers, and taxpayer ID numbers.
  • Information you provide when you contact us – your response to surveys, recorded conversations, chat conversations with us, email correspondence with us, account status, repayment history, and information about others if you choose to share it with us.

We may also collect the above data from other third parties, including service providers, internet service providers, partners and merchants, credit reporting agencies, government entities, data brokers, data analytics providers, advertising networks, card networks, and financial institutions.

We are committed to providing a safe, secure, and all-around great service. Therefore, before permitting you to use the Services, we may require additional information from you we can use to verify your identity, address, or other information to comply with the law or to manage risk and compliance throughout our relationship. We may also obtain information about you from third parties such as identity verification, fraud prevention, and similar services.

When you are using the Services, we collect information about your account transactions, and we may collect Geolocation Information and/or information about your computer your operating systems, or other access device for fraud prevention and other similar purposes.

Finally, we may collect additional information from or about you in other ways not specifically described here. For example, we may collect information related to your contact with our customer support team, store results when you respond to a survey, or when you use VankPay or another VankPay service.

INFORMATION FROM CHILDREN

The Services are not directed to children under the age of 18. If we obtain actual knowledge that we have collected personal information from a child under the age of 18, we will promptly delete it, unless we are legally obligated to retain such data. Contact us if you believe that we have mistakenly or unintentionally collected information from a child under the age of 18.

HOW WE USE COOKIES

When you visit or use our Services or visit a third-party website for which we provide online services, we and certain business partners and vendors may use cookies and other tracking technologies (collectively, “Cookies”). We use Cookies to recognize you as a customer; customize Services, other content, and advertising, measure the effectiveness of promotions, perform a wide range of analytics, mitigate risk, and prevent potential fraud, and promote trust and safety across our Services.

Certain Services are only available using Cookies, so if you choose to disable or decline Cookies, your use of certain Services may be limited or not possible.

Do Not Track: Do Not Track (“DNT”) is an optional browser setting that allows you to express your preferences regarding tracking by advertisers and other third parties. We do not respond to DNT signals.

Please review our Statement on Cookies and Tracking Technologies to learn more about how we use Cookies.

HOW WE PROTECT AND STORE PERSONAL INFORMATION

We store and process your personal information using third-party servers located in data centers in the United States. This information is protected by physical, electronic, and procedural safeguards in compliance with applicable US federal and state laws and regulations. We also use computer safeguards such as firewalls and data encryption, we enforce physical access controls to our office and files, and we authorize access to personal information only for those employees who require it to fulfill their job responsibilities.

We strive to ensure the security of our systems. Despite our efforts, we cannot guarantee that personal information may not be accessed, disclosed, altered, or destroyed by a breach of our administrative, managerial, and technical safeguards. Therefore, we urge you to take adequate precautions to protect your personal information as well, including never sharing your VankPay password with anyone.

If VankPay learns of a systems security breach, we may attempt to notify you electronically so you can take appropriate protective steps. By using the Services, you agree that VankPay may communicate with you electronically. VankPay may post a notice on the website or mobile applications if a security breach occurs. We may also send an email to you at the email address you have provided to us. Depending on where you live, you may have a legal right to receive notice of a security breach in writing. To receive free written notice of a security breach (or to withdraw your consent from receiving electronic notice of a security breach), please email us at privacy@VankPay.com.

HOW LONG DO WE STORE YOUR PERSONAL INFORMATION

We retain your Personal Information for as long as needed or permitted in the context of the purpose for which it was collected and consistent with applicable law.

The criteria used to determine our retention period are as follows:

  • Personal Information used for the ongoing relationship between you and VankPay is stored for the duration of the relationship plus a period of 10 years, unless we need to keep it longer, such as:
    • a legal obligation or compliance with laws to which we are subject is retained consistent with the applicable law, such as under Anti-Money Laundering obligations
    • litigation, investigations, audit, and compliance practices, or to protect against legal claims.

HOW WE USE THE PERSONAL INFORMATION WE COLLECT

Our primary business purpose in collecting personal information is to provide you with a safe, smooth, efficient, fun, and customized experience. We may use your personal information to:

  • provide the Services and customer support you request;
  • process transactions and match payments, and send notices about your transactions or your network activity;
  • resolve disputes, collect fees, and troubleshoot problems.
  • prevent potentially fraudulent, prohibited, or illegal activities, and enforce our User Agreement using our risk and fraud tools which may include the use of Account Information, Identification Information, Financial Information, Device Information, Social Web Information, and Geolocation Information.
  • create an account connection between your VankPay account and a third-party account or platform;
  • customize, personalize, measure, and improve our services and the content and layout of our website, including showing you location-based promotions and business profiles;
  • send you updates about new products and services that we are offering to customers;
  • compare information for accuracy and verify it with third parties;
  • perform other duties as required by law;
  • if you elect to disclose your Geolocation Information, we will use this information to enhance the security of the Services and we may use this information to provide you with location-based options, functionality, offers, advertising, search results, or other location-based content; and
  • if you have a business profile, you can choose to use your address to offer location-based promotions to VankPay users near you.

HOW DO WE DISCLOSE PERSONAL INFORMATION WITHIN THE VANKPAY NETWORK

To process payments on VankPay, we need to disclose some of your personal information with the person or company that you are paying or is paying you. Your contact information, date of sign-up, the number of payments you have received, and other verification metrics like social graph activity may be provided to users or companies when you transact with, on, or through VankPay.

We work with vendors to enable them to accept payments from you using VankPay. In doing so, a vendor may disclose information about you with us, such as your mobile phone number or VankPay username, when you attempt to pay that vendor. We use this information to confirm to that vendor that you are a VankPay customer and that the vendor should enable VankPay as a form of payment for your purchase.

Regardless, we will not disclose your credit card number or bank account number to anyone you have paid or who has paid you through VankPay, except with your express permission or if we are required to do so to comply with a subpoena or other legal process.

HOW WE DISCLOSE PERSONAL INFORMATION WITH OTHER PARTIES

VankPay does not disclose your personal information to third parties for their promotional or marketing purposes.

Some personal information is public and may be seen by anyone on the internet, whether or not they have a VankPay account. Public information may also be seen, accessed, reshared, or downloaded through VankPay APIs or third-party services that integrate with our products.

  • Public information for personal profiles includes your VankPay username, profile photo, first and last name, month, and year of VankPay account creation, and public transactions in which you’ve been involved.
  • Public information for business includes VankPay username, profile and background photos, business description, and QR code.
  • Public information for business may be indexed by and searchable on search engines.

In addition to any public information, we may disclose your personal information with:

  • Our parent company, Vank, LLC., and affiliates and subsidiaries it controls, but only for purposes allowed by this document.
  • Companies that Vank, LLC. plans to merge with or be acquired by or, in the event of any bankruptcy, a bankruptcy estate. Should such a combination occur, we will require that the new combined entity follow this Privacy Policy concerning your personal information. If your personal information could be used contrary to this Statement, you will receive prior notice and the opportunity to communicate preferences you may have, if applicable.
  • Law enforcement, government officials, or other third parties if VankPay is compelled to do so by a subpoena, court order, or similar legal procedure; when it is necessary to do so to comply with law; or where the disclosure of personal information is reasonably necessary to prevent physical harm or financial loss, to report suspected illegal activity, or to investigate violations of the VankPay User Agreement, or as otherwise required by law.
  • Third-party service providers who assist us in providing Services to you or who provide fraud detection or similar services on our or any vendor’s behalf.
  • Businesses when you subscribe to their business profile. We will share your name with a business when you subscribe to their profile.
  • Service providers under contract who help with parts of our business operations (for example, fraud prevention, payment processing, or technology services). Our contracts dictate that these service providers only use your information in connection with the services they perform for us and not for their benefit.
  • Partners and merchants, their service providers, and others involved in a transaction, for example, when you use the Services to initiate online purchases, or return goods, we may disclose information about you and your VankPay account with the other parties (or their service providers) involved in processing your transactions. Please note that personal information shared with partners and merchants (or their service providers) involved in a transaction is subject to the partners’ and merchants’ privacy policies and procedures.
  • For our businesses and their beneficial owners, we report personal information to databases maintained by the card networks under the card scheme rules to fulfill listing and reporting obligations.
  • Other users if you have a business profile. You may choose to display certain information about your business profile on the VankPay network, such as your street address, phone number, email, social media accounts, and website. You can control how this information is displayed in your business profile settings. We will also disclose certain information about your business profile to other users, such as how long ago your business profile was created, the total number of subscribers, and the total number of transactions. We may also use your address, transaction activity, and engagement activity on VankPay to rank your business relative to other businesses in your area.
  • Other third parties with your consent or at your direction to do so, including if you authorize an account connection with a third-party account or platform.
    • For this Privacy Policy, an “account connection” with such a third party is a connection you authorize or enable between your VankPay account and a non-VankPay account, payment instrument, or platform that you lawfully control or own. When you authorize such a connection, VankPay, and the third party will exchange your personal information and other information directly. Examples of account connections include, without limitation: linking your VankPay account to a social media account or social messaging service; connecting your VankPay account to a third-party data aggregation or financial services company, if you provide such company with your VankPay account log-in credentials; or using your VankPay account to make payments to a merchant or allowing a merchant to charge your VankPay account.
    • If you connect your VankPay account to other financial accounts, directly or through a third-party service provider, we may have access to your account balance and account and transactional information, such as purchases and funds transfers. If you choose to create an account connection, we may receive information from the third party about you and your use of the third party’s service. For example, if you connect your VankPay account to a social media account, we will receive personal information from the social media provider via the account connection. We will use all such information that we receive from a third party via an account connection in a manner consistent with this Privacy Policy.
    • Information that we disclose with a third party based on an account connection will be used and disclosed by the third party’s privacy practices. Before authorizing an account connection, you should review the privacy notice of any third party that will gain access to your personal information as part of the account connection. For example, personal information that VankPay discloses with a third-party account or platform such as a social media account may in turn be disclosed to certain other parties, including the public, depending on the account or platform’s privacy practices.
    • If you choose to use Siri or iMessage to send payments via VankPay, when available, or to otherwise use the Services, such use is subject to Apple’s terms and conditions for the use of iMessage and/or Siri, as applicable, and the terms of the VankPay User Agreement. By using Siri or iMessage, you authorize us to disclose some of your VankPay account data (including your friends list, list of persons you have transacted with most recently and most frequently, transaction instructions, and transaction notes) with Apple to allow it to facilitate transaction requests made through Siri or iMessage on iOS. Data disclosed with Apple will be used under Apple’s then-current user agreements and privacy policies. You can grant or revoke Apple’s access to VankPay on iOS at any time under the “Siri” or “iMessage” settings on your iPhone.

VankPay does not send your personal information to third-party social networks unless you have specifically requested or authorized us to do so. When you broadcast information to such third-party social networks, such information is no longer under the control of VankPay and is subject to the terms of use and privacy policies of such third parties.

HOW YOU CAN ACCESS OR CHANGE YOUR PERSONAL INFORMATION

You can review and update your personal information in your account settings at any time by logging in to your account.

LINKS TO OTHER SERVICES OR SITES

The Services may contain links to (or allow you to link to) other third-party services or websites. VankPay does not control the information collection of third-party services or websites that can be reached through such links. We encourage our users to be aware when they are linking to a third-party service or website and to read the Privacy Policy of any third-party service or website that collects personally identifiable information.

HOW TO CONTACT US

If you have questions or concerns regarding this Privacy Policy or any feedback about your privacy and the Services that you would like us to consider, please email us at privacy@VankPay.com.

CONSUMER PRIVACY POLICY

EFFECTIVE DATE

December 11, 2023

OUR COMMITMENT TO CONSUMER PRIVACY

VankPay is a service provided by Vank, LLC (“VankPay”).  The following Consumer Privacy Policy applies to you if you are an individual who resides in the United States and uses the Services for your own personal, family, or household purposes.

WHAT DOES VANKPAY DO WITH YOUR PERSONAL INFORMATION

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

The types of personal information we collect, and share depend on the product or service you have, or you may use with us. This information can include:

  • Social Security number and account balances
  • Payment history or transaction history
  • Credit history or credit scores
  • When you are no longer our customer, we continue to share your information as described in this notice.

All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons VankPay chooses to share; and whether you can limit this sharing.

REASONS WE CAN SHARE YOUR PERSONAL INFORMATION

We share your personal information:

  • for our everyday business purposes such as processing your transactions, maintaining your account(s), responding to court orders and legal investigations, or reporting to credit bureaus
  • for our marketing purposes to offer our products and services to you
  • for joint marketing with other financial companies
  • for our affiliates’ everyday business purposes
  • information about your transactions and experiences

We don’t share your personal information:

  • For our affiliates’ everyday business purposes
  • information about your creditworthiness
  • For our affiliates to market to you
  • For non-affiliates to market to you

ADDITIONAL INFORMATION

Who is providing this Privacy Policy?

This privacy notice is provided by VankPay, a service of Vank LLC, in connection with its provision of VankPay and applies to your personal VankPay account.

How does VankPay protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

How does VankPay collect my personal information?

We collect your personal information, for example, when you open an account or provide account information, when you link your bank account or your credit or debit card to your VankPay account or give us your contact information use your VankPay account to send or receive funds.

We also collect your personal information from others, such as credit bureaus, affiliates, partner merchants, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only sharing for affiliates’ everyday business purposes— information about your creditworthiness affiliates from using your information to market to you sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more information on your rights under state law.

DEFINITIONS

Affiliates: Companies related by common ownership or control. They can be financial and nonfinancial companies.

Nonaffiliates: Companies not related by common ownership or control. They can be financial and nonfinancial companies. Nonaffiliates with which we share personal information include service providers that perform services or functions on our behalf.

Joint Marketing: A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

Our joint marketing partners include financial companies and banks

CALIFORNIA AND VERMONT INFORMATION

We may transfer personal information to other jurisdictions, for example, for customer service or to process transactions.

California:

The California Consumer Privacy Act (CCPA) permits consumers who are California residents to ask businesses covered under the CCPA about personal information it has collected about the consumer, submit an access or deletion request, and opt-out of the “sale” or “sharing” of personal information, if applicable. These provisions do not apply to personal information collected, processed, shared, or disclosed by financial institutions under federal law such as the Gramm-Leach-Bliley Act. Contact us if you have questions about our Privacy Policy, this consumer notice, or your personal information. If your VankPay account has a California mailing address, we will not share personal information we collect about you except to the extent permitted under California law.

Vermont:

If your VankPay account has a Vermont mailing address, we will not share personal information we collect about you with non-affiliates unless the law allows, it or you provide authorization.  We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, credit report, or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law unless you authorize us to make those disclosures.  Additional information concerning our privacy policies can be found at https://VankPay.com/legal/us-licenses/.

CALIFORNIA CONSUMER PRIVACY ACT NOTICE

California Consumer Privacy Act Notice

If you are a California resident, the California Consumer Privacy Act (“CCPA”) requires us to provide you with the following additional information about (1) the business purpose for which we use each category of “personal information” including “sensitive personal information”  (as defined in the CCPA) we collect; and (2) the categories of third parties to which we (a) disclose such personal information for a business purpose, (b) “share” personal information for “cross-context behavioral advertising,” and/or (c) “sell” such personal information.

Under California law, “sharing” is defined as the targeting of advertising to a consumer based on that consumer’s personal information obtained from the consumer’s activity across websites, and “selling” is defined as the disclosure of personal information to third parties in exchange for monetary or other valuable consideration. We do not sell or share your Personal Information, including any Sensitive Personal Information. 

This notice should be read together with the VankPay Privacy Policy and applies to all California residents who visit our Sites or use the Services.

Personal Information Collection and Purposes of Use

We collect, use, and disclose personal information regarding California residents as described in this notice.

We did not sell or share any consumers’ personal information, including sensitive personal information.  This includes personal information about anyone under 16 years of age.

California Residents’ Privacy Rights

California residents and residents of other certain states (such as Virginia) have rights to request access to certain personal information collected about them over the past 12 months, right to correct your personal information, right to opt out of the sale or sharing of personal information, right to limit the use or disclosure of sensitive personal information, or the right to deletion of their personal information, subject to certain exceptions, and may not be discriminated against because they exercise any of their rights under the California Consumer Privacy Act.

If you or an authorized agent submit a request, we’ll first need to verify who you are before we can respond to your request.  We may ask you to provide us with the information necessary to reasonably verify your identity before responding to your request.  We will compare the information you submit against our internal business records to verify your identity. If we can’t verify your identity, we will not be able to fulfill your request. If we deny your request in whole or in part, you may have the right to appeal the decision. In such circumstances, we will provide you with information regarding the appeals process.

Global Privacy Control setting is a browser setting that notifies website owners of users’ privacy preferences regarding selling or sharing their personal information.  VankPay does not respond to these settings because we do not sell or share data.

You or your authorized agent may contact us by clicking here. Learn more about how we have handled your Privacy Rights.

USER AGREEMENT

EFFECTIVE DATE

April 1, 2022.

This user agreement is a contract between you and Vank LLC governing your use of your VankPay account and the VankPay services. You must be in the United States (“U.S.”), including the territory of Puerto Rico (“P.R.”), and have a U.S. or P.R. bank account to use the VankPay services.

You agree to comply with all the terms and conditions in this user agreement. You also agree to comply with the following additional policies and each of the other agreements posted on VankPay.com/legal that apply to you:

We may revise this user agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it unless otherwise noted. If our changes reduce your rights or increase your responsibilities, we will provide notice to you of at least 21 days. We reserve the right to amend this agreement at any time without notice, subject to applicable law. By continuing to use our services after any changes to this user agreement become effective, you agree to abide by and be bound by those changes. If you do not agree with any changes to this user agreement, you may close your account.

WHO WE ARE

VankPay (or “we” or “us”) is a payment platform that facilitates the transfer of funds from you to a designated business (a “transaction”) via automated clearing house (“ACH”) transfer or debit or credit card (the “services”); however, VankPay does not receive, hold, transfer, disperse, or otherwise process funds on your behalf. Nor is VankPay a money transmitter under the typical state law description of “money transmitter.”

OPENING A VANKPAY ACCOUNT

We offer accounts for two types of purposes: personal accounts and approved business accounts. You may only have one personal account. To create a personal account, you must be a resident of the United States or one of its territories, be at least 18 years old or the age of majority in your state or territory of residence, and use a cellular/wireless telephone number that you own. Your VankPay account is personal unless you have received our express written approval to open a business account. In addition to this agreement, approved business accounts are also subject to the Approved Business Account Addendum.

Personal VankPay accounts let you do things like:

  • Transfer money for purchases of goods and services
  • Buy things through an authorized merchant’s mobile website, app, or VankPay business profile.

Except for commercial transactions expressly authorized by VankPay, for example, transactions that are identified as payments for goods and services, personal accounts may not be used to conduct business, commercial, or merchant transactions with other personal accounts, which includes paying or accepting payment from other personal accounts held by users you do not personally know for goods or services (for example, concert tickets, electronic equipment, sneakers, a watch, or other merchandise, deposits for apartments, or dog walking). If you plan to use your VankPay account to receive payments for goods or services, you must ask your buyer to identify that their payment is for goods and services or have a business profile. You may also find out more information about offering VankPay as a payment option on your website or mobile app by visiting this webpage. Keep confidential any credentials you use to access your VankPay account and the VankPay services. You must keep your phone number, email address, and other contact information current in your VankPay account profile.

CLOSING YOUR VANKPAY ACCOUNT

You may close your account and terminate your relationship with us without cost, but you will remain liable for all obligations related to your VankPay account even after the VankPay account is closed. Any incomplete transactions or transfers must be completed or canceled. In certain cases, you may not close your VankPay account, including:

  • To evade an investigation.
  • If you have a pending transaction or an open dispute or claim.
  • If you owe amounts to us.
  • If your VankPay account is subject to a hold, limitation, or reserve.

If your VankPay account is closed for any reason, any business profile affiliated with your account will be canceled.

LINK OR UNLINK A PAYMENT METHOD

You can link or unlink certain payment methods such as a debit card, credit card, or a U. S. bank account to your VankPay account.

Please keep your payment method information current (e. g. credit card number and expiration date). If this information changes, we may update it using information and third-party sources available to us without any action on your part. If you do not want us to update your card information, you may contact your issuer to request this or remove your payment method from your VankPay account.

AUTHORIZATION TO CHARGE YOUR PAYMENT METHOD

General authorization to charge your payment method

By linking a payment method to your VankPay account, as described in the section Link or Unlink a Payment Method, you authorize us to charge such linked payment method for the payment amount and any applicable fees (a) whenever you choose such linked payment method to send money or buy something using VankPay, (b) in connection with any errors, claims, or disputes, and (c) for amounts you owe to us.

Authorization of specific transactions

Each time you make a payment, as described in the section Making Payments, or buy something, as described in the section Buying Something from Authorized Merchants, you authorize us to charge the selected payment method or backup payment method for the payment amount and any applicable fees. If the amount of your transaction changes after checkout (for example, if the amount increases because you add another product or service like expedited delivery or if the amount decreases or is split because a portion of your order is canceled or delayed), you authorize us to charge the selected or backup payment method in the revised amount.

If you have entered into an automatic payment agreement with a seller, you authorize us to charge your selected payment method each time you purchase from the seller, including via recurring or installment payments or any other future transactions scheduled in advance. If your selected payment method cannot be charged, you authorize us to charge the relevant backup payment method linked to your VankPay account.

Revoking your authorization

You can revoke our authority to charge a payment method by unlinking that payment method from your VankPay account as described in the section Link or Unlink a Payment Method. Such revocation only applies to transactions that are initiated after you unlink the payment method. It does not affect our authority to charge the payment method for a transaction you have already authorized, including our authority to re-present a charge to the unlinked payment method or charge the unlinked payment method as a backup payment method if the original transaction occurred before you unlinked that payment method. Unlinking a payment method also does not revoke our authority to charge or credit the payment method in connection with an error, dispute, or claim concerning a transaction initiated before you unlinked that payment method. If you have a payment method selected for a connected business, you may not be able to unlink that payment method until you select a different payment method in the “Connected Businesses” settings in your VankPay app or by disconnecting the business as explained in the section Billing agreement payments and preauthorized payments. If there is a pending transaction with a seller where you have authorized the transaction, but the seller has not yet completed the transaction, you may not be able to unlink the payment method used until the transaction is completed or you select an alternative payment method.

ACCOUNT STATEMENTS

You have the right to receive an account statement showing your VankPay account activity. You may view your VankPay account statement by logging into your VankPay account on the VankPay website.

MAKING PAYMENTS

You can send money to or request money from a VankPay user using the compose payments feature in your VankPay account. They will have to accept any charge request before you are sent money. When you accept a charge request sent by another VankPay user, you will send them money.

Payments for goods and services

Payments for the sale of goods or services made using the Pay and Request feature in your VankPay account must either be identified as for goods and services or sent to business profiles. You may not send regularly recurring payments using the Pay and Request feature in your VankPay account (for example, every month or otherwise on a routine billing cycle).

Sellers must keep appropriate transaction documentation and we may request such information to investigate claims made by users. If a seller does not provide adequate documentation, or we determine, in our sole discretion, that a claim qualifies, we may initiate a refund to the buyer by reversing the payment from the seller’s account, as explained further in the section Refunds for Transactions.

BUYING SOMETHING FROM AUTHORIZED MERCHANTS

How to buy something from an authorized merchant’s website, mobile app, or in-person

You may have the ability to use VankPay as a payment method at checkout at an authorized merchant’s website or mobile app and can make in-person purchases with a QR code. An “authorized merchant” means a merchant that has been authorized by us to accept VankPay as a payment method for purchases of goods and services through the merchant’s website, mobile app, or in-person by using a VankPay QR code. This includes, for example, buying something online using your mobile phone through an authorized merchant’s website or mobile app and selecting VankPay as your payment method at checkout, or buying something from an authorized merchant in person by using a VankPay QR code.

Payments sent using the Pay and Request feature in your VankPay account, such as payments to personal accounts, business, and payments that are identified as goods and services, do not qualify as payments to an authorized merchant. Similarly, if you are charged via the VankPay app or the VankPay website and accept the charge, this is not a payment to an authorized merchant.

Some merchants may require that a payment method is linked to your VankPay account, depending on which is used, to use VankPay for purchases with the merchant.

To manage risk, we may limit the payment methods available for a transaction to buy something from an authorized merchant.

When a payment is authorized to an authorized merchant, some merchants may take up to 30 days to complete the transaction. In these instances, the payment may appear as a pending transaction in your VankPay account. In that case, the authorization of the payment will remain valid until the merchant completes the transaction and we may place a temporary hold on the money in your VankPay account for the payment amount (but no longer than 30 days). If a debit or credit card is used as the payment method, the debit or credit card issuer also may show a pending authorization for some time until they release the hold or receive a completed transaction.

If a bank account is selected as the payment method for a transaction when your VankPay account is used to pay for an item, remember that your VankPay account is issued to you by Vank, LLC. and not your bank. The terms, benefits, and protections associated with your VankPay account may vary from those that apply to your bank account. If your VankPay account is used to make a purchase that exceeds the balance in the linked bank account, the bank may charge overdraft fees, even if you choose not to allow overdrafts with your bank. Similarly, the liability limits applicable to your VankPay account may differ from those applicable to the linked bank account.

Fees and limits

We may, at our discretion, impose limits on the amount or the number of payments you can send, including money you send for authorized merchant purchases. You can view any sending limit on our Personal Payments Limits page. Fees and limits may change from time to time at our sole discretion.

Payment review

We review the payments you make at our discretion. When we identify a potentially high-risk payment to an authorized merchant, we review the transaction more closely before allowing it to proceed. When this happens, we will place a hold on the transaction and notify the merchant to delay the shipping of the item. As a buyer, this may delay your receipt of the item you purchased. If we clear the transaction, we will notify the merchant and direct them to ship the item. If we don’t clear the transaction, we will cancel it and return the money to you, unless we are legally required to take other action.

Billing agreement payments and preauthorized payments

You can agree with an authorized merchant to use VankPay as the payment method for future payments with that merchant. This agreement is between you and the authorized merchant and allows the merchant to take payments from your VankPay account with your authorization either on a one-time, regular, or sporadic basis, depending on the type of billing agreement.

“Preauthorized payments” are a type of billing agreement that allows an authorized merchant to receive payments from your VankPay account on a regularly recurring basis (for example, every month or otherwise on a routine billing cycle), and if such payments will vary in amount, you have the right to advance notice of the amount and date of the transfer from the merchant at least 10 days before the transfer is made. If the merchant provides the option, you may choose to receive this advance notice only when the amount of your preauthorized payment falls outside a range established between you and the merchant.

A billing agreement may be canceled by reaching out to the authorized merchant directly, by disconnecting the merchant in your “Connected Businesses” page in the VankPay app, or by calling VankPay at (787) 300-3300. Preauthorized payments may be canceled up to 3 Business Days before the date of the next scheduled payment. If a billing agreement is canceled, you may still owe the merchant money for the purchase or have additional obligations to the merchant for any goods or services that you or a Teen User receive but have not paid for.

Refunds

When you buy something from an authorized merchant using VankPay and the transaction is ultimately refunded, the money will be sent back to you. Money may not always be refunded to the payment method originally used.

Selling on Vank

You can receive payments for the sale of goods and services only by using a business profile or by asking the sender to identify a payment for goods and services.

Selling on VankPay, including receiving payments in your business profile or that are identified as goods and services, is subject to applicable fees for such payments found on the Fees page. If you refund a transaction to a buyer, there are no fees to make the refund, but the fees you originally paid as the seller are not returned.

We may restrict the use of your VankPay account, including any business profile, if the selling activity through the account, including any business profile, reaches certain thresholds, involves certain activities, or violates any terms between you and us. In addition, if your selling activity meets certain transaction thresholds, we may require you to provide additional information and documentation to us from time to time for tax reporting or other reasons (for example, to verify your business activities or resolve claims or disputes), and we may suspend or place limits on your VankPay account until we receive the requested information and documentation.

Setting up a Business Profile

VankPay may offer you the ability to create a single business profile in addition to your account. To be eligible, you must be an individual with a VankPay account in good standing and complete any required application process, including verification of the required identifying information. As a business profile is part of your VankPay account, all terms applicable to your VankPay account will also govern the business profile, unless otherwise specifically stated. VankPay Debit Card transactions cannot be funded by any funds held in your business profile, and instead can only be funded by funds held in your account. The information you use to complete your business profile must be accurate, and any descriptions, pictures, or other content associated with your profile must be owned by you and comply with the Content Standards below. Teen Users cannot create a business profile.

If you create a business profile for a business legal entity (instead of opening a business profile on behalf of an unincorporated business/sole proprietorship), you agree that you are a legal representative of that business and are authorized to accept this user agreement on its behalf.

By creating a business profile, you authorize us, directly or through third parties, to make any inquiries we consider necessary to verify your identity or the status of your business. This may include ordering a personal and/or business credit report from a credit reporting agency or verifying your or your business’s information against third-party databases or other sources. 

Commercial Entity Status

If the activity through your VankPay business profile or any VankPay account you may hold reaches certain thresholds or involves certain business segments or activities, you, and the business you represent are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and Mastercard payments. In this case, these Commercial Entity Agreements will apply to any payment processed by VankPay on your behalf and will form part of this user agreement.

Taxes and Information Reporting

Our fees do not include any taxes, levies, duties, or similar governmental assessments of any nature, including, for example, value-added, sales, use, or withholding taxes, assessable by any jurisdiction (collectively, “taxes”). It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, including transactions through your business profile or that are marked as for goods and services, and it is solely your responsibility to assess, collect, report, and remit the correct taxes to the appropriate authority. VankPay is not responsible for determining whether any taxes apply to your transaction, or for calculating, collecting, reporting, or remitting taxes arising from any transaction. You acknowledge that we may make certain reports to state and federal tax authorities regarding transactions that we process. For example, VankPay is required to report to the Internal Revenue Service the total amount of payments for goods and services you receive each calendar year into all your VankPay accounts (including VankPay accounts) associated with the same tax identification number once if you receive more than (i) $600 in payments for goods and services with no minimum transaction requirement (the “Reporting Threshold”). We are also required to report payments for goods and services to applicable state and local governments.

Our IRS, state, and local reporting obligations are not limited to payments you receive for goods and services transactions., these are reportable payments by the tax authorities, and we will send you any necessary forms 1099s or 1042-s. These forms will also be transmitted to the relevant tax authority.

Taxpayer Identification Number and Withholding Tax

We may request that you provide your tax identification number and/or a US tax form such as W-9 or W-8. If you do not provide us with the requested information and documentation, you understand and agree that you may be subject to account limitations and federal and state withholding tax at the applicable rates on all US source income payments received. We will send all withholding taxes to the appropriate taxing authorities and cannot refund those amounts.

USING VANKPAY AS A PAYMENT METHOD

The transaction type, among other factors, determines when and how we use your preferred payment method, as explained in Payment Methods.

You can manage payment methods in the Payment Methods section of your VankPay account settings.

Bank account transfers

When you use your bank account as a payment method, you are allowing us to initiate a transfer from your bank account. For these transactions, we will make electronic transfers from your bank account in the amount you authorize. You authorize us to try this transfer again if the initial transfer is rejected by your bank for any reason.

YOU SHOULD CONFIRM THAT YOUR BANK ACCOUNT CONTAINS FUNDS SUFFICIENT TO COVER THE PAYMENT BEFORE MAKING THE PAYMENT FUNDED BY YOUR BANK ACCOUNT. THIS WILL HELP YOU AVOID OVERDRAFTS OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

Debit card processing

VankPay will process your debit or prepaid card-funded transactions through either the ATM debit network or any other major network such as VISA, Mastercard, AMEX, or Discover when applicable.

REFUNDS, REVERSALS, AND CHARGEBACKS

Refunds for Transactions

When you buy something from a seller on VankPay using the “Pay and Request” feature in your VankPay account, either by sending a payment to a business profile or identifying it as for goods and services, and the transaction is refunded, the money will be sent back to you. Money may not always be refunded to the payment method originally used.

If you receive a payment through a business profile or for otherwise selling goods and services (such as when a sender identifies a payment as for goods and services) and that payment is later refunded or invalidated for any reason, you are responsible for the full amount of the payment sent to you plus any fees (including any applicable chargeback fees below).

If you refund a transaction, we’ll retain the fees you paid as set out on our Fees page.

Payments that are invalidated and reversed

Payments may be invalidated and reversed by us if, among other reasons, we sent the payment to you in error, the funding transaction is declined or reversed, the payment was unauthorized or unfunded, or if the payment was for activities that violated this user agreement or any other agreement with us. As the sender or recipient of a payment that is later invalidated for any reason, you may be liable to us for the full amount of the payment, and we may recover the amount of the payment (plus any fees) from you. We may recover the amount of the payment from either the sender or the recipient of an invalidated payment at our discretion (subject to applicable law). For example, if you send a payment funded by a bank account and the bank informs us it cannot cover the payment due to a lack of funds or a dispute, we may hold you liable for the payment, or if you were the recipient of that payment, we may reverse that payment from your account to cover the liability. When recovering the amount of an invalidated payment from you, we may:

  • engage in collection efforts to recover such amounts from you;
  • take any or all action as outlined under Amounts Owed to Us; and
  • place a limitation or take other action on your VankPay account as outlined under Restricted Activities and Holds and Limitations.

If we invalidate a payment because the card issuer or originating bank declined or reversed the transaction, then you may be liable for the payment even if you disagree with the decision of the card issuer or originating bank to decline or reverse the payment. If you believe that a payment initiated with your VankPay account was not authorized, then you must notify us immediately, even if you (or someone else) dispute the transaction with the card issuer or originating bank. Please see below under the heading Reporting an Unauthorized Transaction for information about how to notify us. If you fail to report the unauthorized activity directly to us, then we may recover the amount of the reversed payment from you, as described above.

Chargeback fees

If you receive a debit or credit-funded payment in your business profile or that is identified as for goods and services and the buyer pursues a chargeback for the transaction with their card issuer, we may assess a chargeback fee.

Restricted Activities

In connection with your use of our websites, your VankPay account, the VankPay services, or during your interactions with us, other customers, or third parties, you must not:

  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination, or false advertising); 
  • Infringe our or any third-party ‘s copyright, patent, trademark, trade secret, or other intellectual property rights, or rights of publicity or privacy; 
  • If you have a personal account, use your VankPay account to conduct transactions for goods or services with other personal accounts, except as expressly authorized by Vank;
  • Create or control more than one personal account for yourself without our express authorization, through, among other methods, using a name that is not yours, using a temporary email address or phone number, or providing any other falsified personal information;
  • Act in a manner that is defamatory, trade libelous, threatening, or harassing;
  • Provide false, inaccurate, or misleading information;
  • Send or receive what we reasonably believe to be potentially fraudulent money or payments for advertising, marketing, or otherwise on an unsolicited and unauthorized basis;
  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
  • Attempt to double dip during a dispute by receiving or attempting to receive money from both us and the recipient of a payment, bank, or card issuer for the same transaction;
  • Control an account that is linked to another VankPay account that has engaged in any of these restricted activities;
  • Use the VankPay services in a manner that results in or may result in:
    • complaints;
    • disputes; claims, reversals, chargebacks,
    • fees, fines, penalties, or other liability or losses to Vank, other customers, third parties, or you;
  • Use your VankPay account or the VankPay services in a manner that we, Visa, Mastercard, American Express, when applicable or any other electronic funds transfer network, when applicable, reasonably believe to be an abuse of the card system or a violation of card association or network rules, or to earn rewards, perks, miles, points, etc. with your credit card, debit card, or bank account;
  • Have any amounts owed to us;
  • Provide yourself a cash advance from your credit card (or help others to do so);
  • Access the VankPay services from outside of any of the states of the United States or the territory of Puerto Rico;
  • Take any action that imposes an unreasonable or disproportionately large load on our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf or the VankPay services;
  • Facilitate any viruses, trojan horses, malware, worms, or other computer programming routines that attempt to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept, or expropriate, or gain unauthorized access to any system, data, information or VankPay services;
  • Use an anonymizing proxy; use any robot, spider, another automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software, or routine to bypass our robot exclusion headers;
  • Interfere or disrupt or attempt to interfere with or disrupt our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf, any of the VankPay services, or other users’ use of any of the VankPay services;
  • Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers or service providers;
  • Use the VankPay services to test credit card behaviors, or make excessive or unexplainable transactions;
  • Circumvent any of our policies or determinations about your VankPay account such as temporary or indefinite suspensions or other account holds, limitations, or restrictions, including, but not limited to, engaging in the following actions: attempting to open a new or additional VankPay account(s) when you have amounts owed to us or when your VankPay account has been restricted, suspended or otherwise limited; opening new or additional VankPay accounts using information that is not your own (e. g. name, address, email address, etc. ); or using someone else’s VankPay account; or
  • Harass and/or threaten our employees, agents, or other users.

Actions We May Take if You Engage in Any Restricted Activities

If we believe that you’ve engaged in any restricted activities, we may take several actions to protect ourselves, our customers, and others at any time at our sole discretion. The actions we may take include, but are not limited to, the following: 

  • Terminate this user agreement, limit your VankPay account, and/or close or suspend your VankPay account, immediately and without penalty to us; 
  • Refuse to provide the VankPay services to you in the future; 
  • Limit your access to our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf, your VankPay account, or any of the VankPay services, including limiting your ability to pay or send money with any of the payment methods linked to your VankPay account, restricting your ability to send money or make bank transfers; 
  • Update the inaccurate information you provided us;
  • Take legal action against you; or
  • If you’ve violated our Acceptable Use Policy, then you’re also responsible for damages to us caused by your violation of this policy.

If we close your VankPay account or terminate your use of the VankPay services for any reason, we’ll provide you with notice of our actions.

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties, and other liability incurred by us, any customer, or a third party caused by or arising out of your breach of this agreement, and/or your use of the VankPay services. For example, if you send a payment funded by your bank account and your bank informs us you do not have sufficient funds to cover the payment, you may be liable for the payment. Similarly, if you receive a payment and the payment is disputed, you may be liable for the payment.

Holds and Limitations

What are holds and limitations

Under certain circumstances, to protect VankPay and the security and integrity of the network that uses the VankPay services, VankPay may, in its sole discretion, take account-level or transaction-level actions. A hold may be placed on your VankPay account, including any associated business profile.

Our decision about holds and limitations may be based on confidential criteria that are essential to our management of risk and the protection of Vank, our customers, and/or service providers. We may use proprietary fraud and risk modeling when assessing the risk associated with your VankPay account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you.

Holds

A hold is an action that VankPay may take under certain circumstances either at the transaction level or the account level. When VankPay places a temporary hold on a transaction, the money is not available to either the sender or the recipient. VankPay reviews many factors before placing a hold on a transaction, including account tenure, transaction activity, and past disputes.

Holds based on Vank’s risk decisions

We may place a hold on transactions involving your VankPay account if, in our sole discretion, we believe that there may be a high level of risk associated with you, your VankPay account, or your transactions or that placing such a hold is necessary to comply with state or federal regulatory requirements. We make decisions about whether to place a hold based on several factors, including information available to us from both internal sources and third parties.

Risk-based holds may remain in place for up to 180 days from the date the transaction was made. We may release the hold earlier under certain circumstances, but any earlier release is at our sole discretion.

Account Limitations

Limitations may be placed on your account to help protect VankPay and VankPay users when we notice restricted activities or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your VankPay account open.

There are several reasons why your VankPay account could be limited, including:

  • If we suspect someone could be using your VankPay account without your knowledge, we’ll limit it for your protection and investigate the unusual activity.
  • If another financial institution alerts us that someone has used one of your linked payment methods without permission.
  • To comply with the law.

If we reasonably believe you have breached this agreement or violated the Acceptable Use Policy or Content Standards.

You will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us with that information, we may take action to protect us, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks, and any other liability.

Court Orders, Regulatory Requirements, or Other Legal Processes

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from your VankPay account, placing a hold or limitation on your VankPay account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. We do not have an obligation to contest or appeal any court order or legal process involving you or your VankPay account. When we implement a hold or limitation because of a court order, applicable law, regulatory requirement, or other legal processes, the hold or limitation may remain in place longer than 180 days.

Protection from Unauthorized Transactions

To protect yourself from unauthorized activity in your VankPay account, you should regularly log into your VankPay account and review your VankPay account statement. We will notify you of each transaction by sending an email to your primary email address on file. You should review these transaction notifications to ensure that each transaction was authorized and accurately completed.

We will protect you from unauthorized activity in your VankPay account. The following terms and conditions apply concerning all VankPay services. When the below protection applies, we will cover you for the full amount of the unauthorized activity if you cooperate with us and follow the procedures described below.

What is an Unauthorized Transaction

An “Unauthorized Transaction” occurs when money is sent from your VankPay account that you did not authorize and that did not benefit you. For example, if someone steals or fraudulently obtains your password, uses the password to access your VankPay account, and sends a payment from your VankPay account, an Unauthorized Transaction has occurred.

What is not considered an Unauthorized Transaction

The following are NOT considered Unauthorized Transactions:

  • If you grant authority to someone to use your VankPay account (by giving them your login information) and they exceed the authority, you gave them. You are responsible for transactions made in this situation unless you have previously notified us that you no longer authorize transfers by that individual.
  • Invalidation and reversal of payment because of the actions described under Refunds, Reversals, and Chargebacks.

Reporting an Unauthorized Transaction

If you believe your VankPay login information has been lost or stolen, please contact VankPay customer service immediately or call: 787-300-3300 or write:

Vank, LLC.

Attn: VankPay Error Resolution Department

P.O. Box 193497

San Juan, PR 00919-3497

Tell us AT ONCE if you believe that an electronic fund transfer has been made without your permission using your login information or by other means, or if your Vank-activated mobile phone has been lost, stolen, or deactivated. If you tell us within 60 days after we provide you with your VankPay account statement showing transfers you did not make, you will be eligible for 100% protection for Unauthorized Transactions.

Also, if your VankPay account statement shows transfers that you did not make, including those made with your VankPay login information or by other means, tell us at once. If you do not tell us within 60 days after we provided the statement to you, 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 kept you from telling us, we may extend the time periods.

Filing a chargeback or reversal with your financial institution related to a VankPay payment does not constitute notice of an Unauthorized Transaction to us. You must contact us directly to notify us of Unauthorized Transactions by reaching out to VankPay customer service or calling call: 787-300-3300 or writing:

Vank, LLC.

Attn: VankPay Error Resolution Department

P.O. Box 193497

San Juan, PR 00919-3497

Error Resolution

What is an error?

An “error” means the following:

  • When money is either incorrectly taken from your VankPay account or incorrectly placed into your
  • VankPay account, or when a transaction is incorrectly recorded in your VankPay account.
  • You send a payment, and the incorrect amount is debited from your VankPay account.
  • An incorrect amount is credited to your VankPay account.
  • A transaction is missing from or not properly identified in your VankPay account statement.
  • We make a computational or mathematical error related to your VankPay account.

What is not considered an error

The following are NOT considered errors:

  • If you give someone access to your VankPay account (by giving them your login information) and they use your VankPay account without your knowledge or permission. You are responsible for transactions made in this situation.
  • Invalidation and reversal of payment because of the actions described under Refunds, Reversals, and Chargebacks.
  • You request a receipt or periodic statement documents that we are required to provide to you.
  • Routine inquiries about money in your VankPay account or the status of a pending transfer to or from your VankPay account unless you expressly notify us of an error in connection with the transfer.
  • Requests for duplicate documentation or other information for tax or other recordkeeping purposes.

In case of errors or questions about your electronic transfers

Telephone us at 787-300-3300, contact us through the Help Center on the VankPay website; or write us at Vank, LLC., Attn: VankPay Error Resolution Department, P.O. Box 193497, San Juan, PR 00919-3497.

Notify us as soon as you can if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Filing a chargeback or reversal with your financial institution related to a VankPay payment does not constitute notice of an error to us. You must contact us directly to notify us of errors. When you notify us:

  • Tell us your name and account number (if any).
  • Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
  • Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 Business Days.

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 provisionally credit your VankPay account within 10 Business Days for the amount you think is in error and will notify you within 2 Business Days of the credit, 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 VankPay account.

For errors involving new VankPay accounts or point-of-sale transactions, we may take up to 90 days to investigate your complaint or question. For new VankPay accounts, we may take up to 20 Business Days to credit your VankPay account for the amount you think is in error. We will tell you about the results within 3 Business Days after completing our investigation.

  • If we determine that there was an error, we will promptly credit the full amount of the error into your account within 1 Business Day of our determination. Or, if you have already received a provisional credit, you will be allowed to retain those amounts.
  • If we decide that there was no error, we will send you a written explanation, and, if you received a provisional credit, after giving you 5 Business Days advance notice of the date and amount of the debit, we will remove it from your account. You may ask for copies of the documents that we used in our investigation.

Processing Errors

We will rectify any processing error that we discover. If the error results in:

  • If you are receiving less than the correct amount to which you were entitled, then we will credit your VankPay account for the difference between what you should have received and what you received.
  • If you are receiving more than the correct amount to which you were entitled, then we will debit your VankPay account for the difference between what you received and what you should have received.
  • Not completing a transaction on time or in the correct amount, then we will be responsible to you for your losses or damages directly caused by this failure, unless:
    • through no fault of ours, you did not have enough available funds to complete the transaction;
    • our system was not working properly, and you knew about the breakdown when you started the transaction; or
    • the error was due to extraordinary circumstances outside our control (such as fire, flood, or loss of Internet connection), despite our reasonable precautions.

Processing errors are not:

  • Delays that result from us applying holds or limitations.
  • Delays are based on a payment review or bank transfer review.
  • Delays are described under How to buy something related to the time it may take for a purchase transaction to be completed in some situations.
  • Your errors in making a transaction (for example, mistyping an amount of money that you are sending or sending funds to a wrong merchant).

Communications Between You and Us

By providing us your mobile phone number and opting in to receive text messages, you agree that we, including our affiliates, may contact you at that number using auto-dialed or prerecorded message calls or text messages to (i) service your VankPay branded accounts, (ii) investigate or prevent fraud, or (iii) collect a debt. We will not use auto-dialed or prerecorded message calls or texts to contact you for marketing purposes unless we receive your prior express written consent. You do not have to agree to receive auto-dialed or prerecorded message calls or texts to your mobile phone number to use and enjoy the products and services offered by VankPay. You can decline to receive auto-dialed or prerecorded message calls or texts to your mobile phone number by replying STOP to a message or by sending an email to contactoptuut@VankPay.com from the email associated with your VankPay account with the following message:

Please do not contact my phone with auto-dialed or prerecorded message calls or text messages.

This will ensure that you will not be contacted by VankPay or on behalf of VankPay with auto-dialed or prerecorded message calls or text messages. Text HELP to a message for assistance and more information. Message and data rates may apply. The frequency of messages may vary, and standard telephone minute and text charges may apply. Neither we nor your phone carriers are liable for delayed or undelivered messages. Please review our Privacy Policy to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their purposes without your consent.

We may communicate with you about your VankPay account and the VankPay services electronically as described in our Consent to Receive Electronic Disclosures. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to our website or email it to you. You will be considered to have received a communication from us if it’s delivered by mail, 3 Business Days after we send it.

Unless you’re communicating with us about a matter where we’ve specified another notice address (for example, our Protection from Unauthorized Transactions process), written notices must be sent by postal mail to: Vank, LLC., Attention: Legal Department, P.O. Box 193497, San Juan, PR 00919-3497.

You understand and agree that, to the extent permitted by law, we may, without further notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with us or our agents for quality control and training purposes or our protection. You acknowledge and understand that while your communications with us may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by us, and we do not guarantee that recordings of any telephone calls will be retained or retrievable.

Our Rights

Our suspension and termination rights

We, in our sole discretion, reserve the right to suspend or terminate this user agreement, access to or use of our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf or some or all of the VankPay services for any reason and at any time upon notice to you and, upon the termination of this user agreement, the payment to you of any unrestricted money being held for you.

Amounts owed to us

We may deduct amounts owed to us, in whole or in part, from money that is sent to your VankPay account later, either by you or from payments sent to you. While you owe amounts to us, we may:

  • reverse payments you have sent;
  • engage in the collection and other efforts to recover such amounts from you, including, but not limited to, making attempts on your linked payment methods to cover the amounts; and
  • place a limitation or take other action on your VankPay account as outlined under Restricted Activities and Holds.

If you continue using your VankPay account when you have amounts owed to us, you authorize us to combine amounts owed to us with any debit or transaction sent from your account.

In addition to the above, if you have a past due amount owed to us, including our affiliates, we may debit your VankPay account or accounts held at our affiliates or various products to pay any amounts that are past due.

IF YOU HAVE AMOUNTS PAST DUE, YOU SHOULD CONFIRM THAT YOUR PAYMENT METHODS CONTAIN FUNDS SUFFICIENT TO COVER ANY AMOUNTS PAST DUE. THIS WILL HELP YOU AVOID OVERDRAFTS OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

Insolvency proceedings

If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this agreement.

Assumption of rights

If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment and may pursue those rights directly or on your behalf, at our discretion.

No waiver

Our failure to act concerning a breach of any of your obligations under this user agreement by you or others does not waive our right to act concerning subsequent or similar breaches.

Indemnification and Limitation of Liability

In this section, we use the term “Vank” to refer to Vank, LLC., our affiliates, and each of their respective directors, officers, employees, agents, joint venturers, service providers, and suppliers. Our affiliates include each entity that we control, we are controlled by, or we are under common control with.

Indemnification

You must indemnify VankPay for actions related to your VankPay account and your use of the VankPay services. You agree to defend, indemnify and hold VankPay harmless from any claim or demand (including reasonable legal fees) made or incurred by any third-party due to or arising out of your breach of this user agreement, your improper use of the VankPay services, your violation of any law or the rights of a third-party and/or the actions or inactions of any third-party to whom you grant permissions to use your VankPay account or access our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf, or any of the VankPay services on your behalf.

Limitation of liability

Vank’s liability is limited concerning your VankPay account and your use of the VankPay services. In no event shall VankPay be liable for lost profits or any special, incidental, or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf, any of the VankPay services, or this user agreement (however arising, including negligence), unless and to the extent prohibited by law.

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, VankPay is not liable, and you agree not to hold VankPay responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of, or your inability to use, our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf, or any of the VankPay services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf and any of the VankPay services; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf or any of the VankPay services or any website or service linked to our websites, software or any of the VankPay services; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf or any of the VankPay services or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your VankPay account; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

Disclaimer of Warranty and Release

No warranty

The VankPay services are provided “as-is” and without any representation or warranty, whether express, implied, or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose, and non-infringement.

We do not have any control over the products or services provided by sellers who accept VankPay as a payment method, and we cannot ensure that a VankPay user or a seller you are dealing with will complete the transaction or is authorized to do so. We do not guarantee continuous, uninterrupted, or secure access to any part of the VankPay services, and operation of our websites, software, or systems (including any networks and servers used to provide any of the VankPay services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, debit cards, credit cards, and check issuances are processed on time but we make no representations or warranties regarding the amount of time needed to complete processing because the VankPay services are dependent upon many factors outside of our control, such as delays in the banking system or the U. S. or international mail service. Some U.S. jurisdictions do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

Release

If you have a dispute with any other VankPay account holder, you release us from all claims, demands, and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering this release, you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include only those claims that you may know or suspect to exist in your favor at the time of agreeing to this release.

Waiver of Right to Jury; Class Action Waiver

TO THE EXTENT ALLOWED BY LAW, YOU AGREE TO IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO A TRIAL BY JURY OR OTHER COURT TRIAL (OTHER THAN SMALL CLAIMS COURT) OR TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER REPRESENTATIVE CAPACITY, OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS, IN ANY LAWSUIT, ARBITRATION OR OTHER PROCEEDING FILED AGAINST US AND/OR RELATED THIRD PARTIES.

Content Posted by Users

When using Vank’s products and services, you may have the ability to post content (e.g., payment descriptions, business descriptions, comments, and/or photos). You are solely responsible for all content that you provide, post, upload, or submit. We are not responsible for evaluating the accuracy, truthfulness, usefulness, legality, safety, morality, or applicability of any content posted by users on VankPay. VankPay does not endorse, guarantee, make representations, or provide warranties regarding any such content. VankPay may, in its sole discretion, reject or remove any content that violates our content standards below or for any other reason we deem the content inappropriate. VankPay shall have no obligation to monitor the content posted, uploaded, or submitted by a user, but may do so at its sole discretion. VankPay is not responsible for any failure or delay in removing any such content.

Content Standards

You may not post or submit any content that violates our Acceptable Use Policy or any content that is:

  • false, misleading, deceiving, inaccurate, or dishonest;
  • defamatory or invasive of another person’s right of privacy or right of publicity;
  • harmful, obscene, harassing, abusive, offensive, objectionable, violent, or condoning violence or harm, displaying nudity or sexual activity, or otherwise unfit for publication;
  • inciting hatred of individuals or groups based on race or ethnic origin, religion, nationality, disability, gender, age, veteran status, or sexual orientation/gender identity, portraying or inciting animal cruelty or neglect;
  • illegal, such as criminal activity, terrorism, obscenity, child pornography, human exploitation, gambling, drug use, firearms or ammunition, and piracy;
  • infringing intellectual property or other proprietary rights of any party, or not authorized, such as content that you did not create or do not have permission to use;
  • creating a privacy or security risk to any person;
  • spam, letters, or pyramid schemes;
  • in VankPay’s sole discretion, objectionable or exposes users to harm or liability.

Please report inaccurate, inappropriate, or offensive content, policy violations, or other violations to our Content Standards (other than intellectual property infringement claims covered in the section Submitting Intellectual Property Complaints) using this link.

Intellectual Property

Our trademarks

“Vank”, “VankPay.com,” “VankPay,” and all logos related to the VankPay services are either trademarks or registered trademarks of VankPay or Vank’s licensors. You may not copy, imitate, modify, or use them without our prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of VankPay. You may not copy, imitate, modify, or use them without our prior written consent. You may use HTML logos provided by us to direct web traffic to the VankPay services. You may not alter, modify, or change these HTML logos in any way, use them in a manner that mischaracterizes VankPay of the VankPay services, or display them in any manner that implies Vank’s or Vank’s sponsorship or endorsement. All rights, titles, and interest in and to the VankPay websites, any content thereon, the VankPay services, the technology related to the VankPay services, and any technology and any content created or derived from any of the foregoing is the exclusive property of VankPay and its licensors.

License grants, generally

If you are using our software such as an API, developer’s toolkit, or other software application, which may include software provided by or integrated with software, systems, or services of our service providers, that you have downloaded or otherwise accessed through a web or mobile platform, then VankPay grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use our software by the documentation accompanying such software. This license grant applies to the software and all updates, upgrades, new versions, and replacement software. You may not rent, lease, or otherwise transfer your rights in the software to a third-party. You must comply with the implementation, access, and use requirements contained in all documentation accompanying the VankPay services. If you do not comply with implementation, access, and use requirements you will be liable for all resulting damages suffered by you, us, and third parties. We may update or discontinue any software upon notice to you. While we may have (1) integrated certain third-party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third-party materials and technology to facilitate providing you with the VankPay services, you have not been granted and do not otherwise retain any rights in or to any such third-party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile, or otherwise attempt to create any source code that is derived from the software or any third-party materials or technology, or otherwise create any derivative works from any of the software or third-party materials or technology. You acknowledge that all rights, title, and interest in our software are owned by Vank, and any third-party materials integrated therein are owned by our third-party service providers. Any other third-party software application you use on the VankPay websites is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that VankPay does not own, control nor have any responsibility or liability for any such third-party software application you elect to use on any of our websites, software, and/or in connection with the VankPay services.

License grant from you to Vank; intellectual property warranties

We do not claim ownership of the content that you provide, upload, submit, or send to us. When you provide content to us or post content using VankPay services, you grant us, our affiliates, and our users (including parties that we work with) a non-exclusive, perpetual, irrevocable, royalty-free, fully paid-up, transferable, sublicensable, and worldwide license to duplicate, copy, display, publish, upload, perform, distribute, modify, create derivative works, delete, post, forward to others and otherwise use your content and associated intellectual property and publicity rights to help us improve, operate, promote, advertise and market our current services and develop new ones, in any form, medium or technology now known or later developed. We will not compensate you for any of your content. You further represent and warrant that (1) you own or otherwise have all the licenses, rights, consents, and permissions in your content necessary to make the above license and grant, (2) your content is accurate, and (3) your content and our use of your content do not and will not infringe any intellectual property, privacy, proprietary or publicity rights, or otherwise violate confidentiality obligations, these terms or applicable law. Further, you agree to waive your moral rights and promise not to assert any rights in your content against us.

Submitting Intellectual Property Complaints

We respect the intellectual property of others and require that VankPay account holders comply with relevant intellectual property laws, including copyright and trademark laws. We may, in appropriate circumstances and at our discretion, limit or terminate the use of our products or services for users who use or publish content on the VankPay platform that is subject to intellectual property rights claims.

VankPay will respond to notices of alleged copyright infringement that comply with the Digital Millennium Copyright Act (“DMCA”). If you believe your intellectual property rights have been infringed by content on the VankPay platform, you may request the removal of this content from our website by notifying us at infringementreport@VankPay.com or:

Vank, LLC. 


Attn: VankPay Acceptable Use Policy


P.O. Box 193497, San Juan, PR 00919-3497


If you believe that the content you posted on the site was removed, or access to it was disabled, by mistake or misidentification, you may file a counter-notification with us by submitting a written notification to the email or address above under the DMCA.

We may terminate an infringer’s access to VankPay products or services at our sole discretion and we have the policy to terminate accounts of repeat infringers.

Miscellaneous

Assignment

You may not transfer or assign any rights or obligations you have under this user agreement without our prior written consent. We may transfer or assign this user agreement or any right or obligation under this user agreement at any time.

Business Days

“Business Day(s)” means Monday through Friday, excluding holidays when Vank’s offices are not considered open for business in the U. S. Holidays include New Year’s Day (January 1), Martin Luther King, Jr.’s Birthday (the third Monday in January), George Washington’s Birthday (the third Monday in February), Memorial Day (the last Monday in May), Independence Day (July 4), Labor Day (the first Monday in September), Columbus Day (the second Monday in October), Veterans Day (November 11), Thanksgiving Day (the fourth Thursday in November) and Christmas Day (December 25). If a holiday falls on a Saturday, we observe the holiday on the prior Friday. If the holiday falls on a Sunday, we observe the holiday on the following Monday.

Consumer fraud warning

We’re always looking for ways to help keep you even more secure. So stay on the lookout for some of these common scams:

  • Seller Scam: a scammer sends you a fraudulent payment for goods or services you provide outside of VankPay.
  • Accidental Payment: a scammer sends you a fraudulent payment, claims it was accidental, and asks that you return their money.

Always use common sense when sending money. If something sounds too good to be true, it probably is. Only send money for yourself and not for others. Please let us know immediately if you believe someone is trying to scam or defraud you by contacting us.

Dormant accounts

If you do not log in to your VankPay account for two or more years, we may close your VankPay account.

Google Maps

Your use of Google Maps while using the VankPay services on the VankPay app is subject to the then-current Google Maps/Google Earth Additional Terms of Service at https://maps.google.com/help/termsmaps.html and Google Privacy Policy at https://www.google.com/policies/privacy/.

Governing law

You agree that except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this user agreement, the laws of the U.S. territory of Puerto Rico, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and VankPay regarding your use of the VankPay services.

Identity authentication

You authorize us, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include:

  • asking you for further information, such as your date of birth, social security or taxpayer identification number, physical address, and other information that will allow us to reasonably identify you; or
  • requiring you to take steps to confirm ownership of your email address, phone number, or financial instruments; or
  • ordering a credit report from a credit-reporting agency, verifying your information against third-party databases or through other sources; or
  • requiring you to provide your driver’s license or other identifying documents.

Anti-money laundering and counter-terrorism financing laws may require that we verify the required identifying information if you use certain VankPay services. We reserve the right to close, suspend, or limit access to your VankPay account and/or the VankPay services if, after reasonable inquiries, we are unable to obtain information about you required to verify your identity.

VankPay is only a payment service portal

We act as a payment service portal only. We do not:

  • Act as an escrow agent concerning any money sent to you on VankPay that has not been transferred; or
  • Act as your agent or trustee; or
  • Enter a partnership, joint venture, agency, or employment relationship with you; or
  • Guarantee the identity of any user or seller; or
  • Determine if you are liable for any taxes; or
  • Unless otherwise expressly set out in this agreement, collect, or pay any taxes that may arise from your use of our services.

Privacy

Protecting your privacy is very important to us. Please review our Privacy Policy to better understand our commitment to maintaining your privacy, as well as our use and disclosure of your information.

State disclosures

In addition to reporting complaints about the VankPay services directly to us as described above, if you are a California resident, you may report complaints to the California Department of Business Oversight by mail at Department of Business Oversight, Attn: Consumer Services, 1515 K Street, Suite 200, Sacramento, CA 95814 or online through its website at http://www.dbo.ca.gov/Consumers/consumerservices. asp. The California Department of Business Oversight helps with its complaint form by phone at 866-275-2677. If you are a California resident, you have a right to receive communications about your VankPay account and the VankPay services by email. To make such a request, send a letter to VankPay to Vank, LLC., Attention: Legal Department, P.O. Box 193497, San Juan, PR 00919-3497, including your email address, and your request for that information by email.

Florida residents may contact the Florida Department of Financial Services in writing at 200 East Gaines Street, Tallahassee, Florida, 32399, or by telephone at 1-800-342-2762.

Third-party providers

The VankPay app works on an application linked to a particular device and operating system, such as Apple’s iOS operating system. Your use of the VankPay services may be subject to separate agreements you may enter into with your mobile device operating system provider (e.g., Apple, Google, or Microsoft®), your mobile device manufacturer (e.g., Apple, Samsung®), your mobile service carrier (e.g., AT&T®, Liberty®, Claro®, T-Mobile® or Verizon®), and other parties involved in providing your mobile device service, which we collectively refer to as “Covered Third Parties.” You agree to comply with all applicable third-party terms of agreement when using VankPay Services. We are not a party to those agreements, and we have no responsibility for the products and services provided by third parties. You acknowledge and agree that this agreement is between you and Vank, not with any Covered third party. You acknowledge and agree that we are solely responsible for the VankPay services and for providing maintenance and support services for the VankPay services.

Covered Third Parties have no warranty obligations whatsoever concerning the VankPay Services and any other claims, losses, liabilities, damages, costs, or expenses attributable to any failure of the VankPay services to conform to any warranty provided by us, if any, will be our sole responsibility.

We, nor any Covered Third Parties, are responsible for addressing any claims relating to the VankPay services, including, but not limited to (i) product liability claims; (ii) any claim that the VankPay Services fail to conform to any applicable legal or regulatory requirement; (iii) claims arising under consumer protection, privacy, or similar legislation; and (iv) intellectual property claims.

If you are using the VankPay Services on an Apple device, you acknowledge and agree that Apple, and Apple’s subsidiaries, are third-party beneficiaries of this Agreement and that Apple will have the right (and will be deemed to have accepted the right) to enforce this Agreement against you as a third-party beneficiary. Such rights may also accrue to other handset manufacturers and operating systems that participate in the VankPay services.

Unlawful Internet Gambling Notice

Restricted transactions as defined in Federal Reserve Regulation GG are prohibited from being processed through your VankPay account or your relationship with VankPay. Restricted transactions generally include, but are not limited to, transactions in which credit, electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with unlawful Internet gambling.

Your use of information; Data protection laws

If you receive information about any VankPay customer, you must keep the information confidential and only use it in connection with the VankPay services. You may not disclose or distribute any information about VankPay users to a third party or use the information for marketing purposes unless you receive that user’s express consent to do so. You may not send unsolicited emails to a VankPay customer or use the VankPay services to collect payments for sending or assist in sending, unsolicited emails to third parties. The privacy and data protection laws that may apply include any associated regulations, regulatory requirements, and codes of practice applicable to the provision of the services described in this agreement. In complying with such laws, you will:

  • implement and maintain all appropriate security measures for the processing of personal data; and
  • not knowingly do anything or permit anything to be done that might lead to a breach of any privacy data protection laws by us.

APPROVED BUSINESS ADDENDUM

EFFECTIVE DATE

December 11, 2023

Approved business ACCOUNTS

This addendum governs the use of Vank’s approved business accounts, referred to in this addendum as a business account. It applies to VankPay business accounts only. Your use of a business account is subject to this addendum, in addition to the terms of the VankPay User Agreement, the VankPay Privacy Policy, and other applicable agreements between you and Vank, LLC. For each business you are involved with, you may have only one business account. Business account use is limited. Business accounts must be applied for and explicitly authorized. By opening a business account and accepting the terms as outlined in this addendum, you attest that neither you nor your business is establishing a business account primarily for personal, family, or household purposes. We may reverse or place a hold on your transactions or place a reserve on your funds if you are in breach of this addendum, including, but not limited to if you are using a business account for personal, family, or household purposes.

Highly regulated business accounts

Highly regulated business accounts may only have the option to send and receive funds via Automated Clearing House (ACH) transfers. By agreeing to the Terms, you acknowledge and agree that: (a) Transactions will go through ACH, (b) all Transactions will be governed by ACH rules, and (c) your ACH transactions will comply with U.S. law. You can learn more about the ACH at www.nacha.org.

 

Identity and credit verification

You hereby authorize us, directly or through third parties, to make any inquiries we consider necessary to validate your identity and/or authenticate your identity, account information, and your company or employer. By opening a business account, you are providing us with written instructions and authorization by the Fair Credit Reporting Act to obtain your personal and/or business credit report from a credit bureau. You are also authorizing us to obtain your personal and/or business credit report when you upgrade your account to a business account, or at any time we reasonably believe there may be an increased level of risk associated with your account. An increased level of risk includes but is not limited to, a high number of chargebacks or reversals, or suspicious activity associated with your account.

Receiving, sending, and withdrawing money

Please see our Help Center here for more details on payment limits, and our Help Center for more details on the amount you can withdraw. These limits may change from time to time at our sole discretion and the requirements to lift those limits may vary based on product usage.

Representations

You represent that you are duly authorized to do business in the United States; and your employees, officers, representatives, and other agents accessing VankPay are duly authorized to access VankPay and to legally bind you to this addendum and all transactions conducted under your username and password.

Authority of officers and employees

You agree that all officers, employees, agents, representatives, and others having access to the username and/or password shall be vested by you with the authority to use VankPay and to legally bind you. You shall be responsible for all actions by current and former officers, employees, agents, representatives, and others, regardless of whether authorized by you, that access the VankPay Services using your username and password. YOU ASSUME THE ENTIRE RISK FOR THE FRAUDULENT, UNAUTHORIZED, OR OTHERWISE IMPROPER USE OF YOUR PASSWORD. WE SHALL BE ENTITLED TO RELY ON THE GENUINENESS AND AUTHORITY OF ALL INSTRUCTIONS RECEIVED BY US WHEN ACCOMPANIED BY SUCH PASSWORD AND TO ACT ON SUCH INSTRUCTIONS.

E-SIGN DISCLOSURE AND CONSENT

EFFECTIVE DATE

December 11, 2023

Consent to Receive Electronic Disclosures

By accepting this Consent as indicated below, you, the person or entity applying for a VankPay account, consent to receive and view disclosures, notices, statements, and other communications (collectively, “Disclosures”) from Vank, LLC. (“Vank” or “we”) relating to your eligible VankPay accounts (“Account(s)”) electronically by any of the following means:

  • Text to your mobile phone number (which may include a link to a new Disclosure on the VankPay website (“Website”),
  • To your email, or
  • Notifications from our Web or mobile application (“Application”).

Delivery by any of these means will constitute proper notice to you under applicable law. You acknowledge that Disclosures will include, but may not be limited to, the following:

  • The VankPay Website, Privacy Policy, and the User Agreement (“Policies and Agreements”);
  • Disclosures and/or amendments we may provide you under our Policies and Agreements;
  • Balance, activity, and any other information on your Account(s),
  • Periodic statements, receipts, confirmations, authorizations, and transaction history for your Account(s);
  • Disclosures regarding the resolution of any claimed error on your periodic statements; and
  • Disclosures required or permitted by law or regulation.

Your right to revoke consent

Your consent is effective until further notice by us or until you revoke your consent to receive electronic Disclosures. You may revoke your consent to receive electronic Disclosures at any time either by clicking the “Contact Us” button at the bottom of this page or by submitting your request in writing to Vank, LLC., Attn: Legal Department, P.O. Box 193497, San Juan, PR 00919-3497. If you do not consent or if you withdraw your consent, we reserve the right to refuse to accept your Account application, cancel your Account, place your Account on inactive status, or provide a paper copy of the Disclosures. If you request a paper copy of a Disclosure within 180 days of the date of the Disclosure and we elect to send you a paper copy, we will waive our standard Disclosure Request Fee for the first two requests. After that, any additional Disclosure Requests may be subject to fees. We will only provide paper copies upon your request if your current mailing address is in your Account profile.

SYSTEM REQUIREMENTS: To receive Disclosures, whether, by text or email, you need to have a means of printing or storing them. So, in addition to having an email address and phone number you must have the following:

  • Computer or mobile device with an Internet connection; or
  • A current web browser with cookies enabled; or
  • A valid email address on file in your Account profile; or
  • Ability to store or print the Disclosures; and
  • if you use a spam blocker, you must add vank@VankPay.com to your email address book or whitelist.

We reserve the right to change these System Requirements and will provide you with a Disclosure when we make a material change to the System Requirements.

Receiving texts and emails

To receive Disclosures, you must ensure that the primary mobile phone and/or email address that you provide us is your valid, current phone number or email address and that you can receive that address texts or email messages containing Disclosures including attached electronic documents and that such Disclosures, including portions that are attached documents are available for viewing and storing or printing by you. You agree to promptly update your email address by updating your Account profile if your email address changes. You acknowledge that our ability to notify you of the availability of your Disclosures is contingent on the validity of the mobile phone number and email address in our records. If your mobile phone or email address is no longer valid, we reserve the right to determine your Account is inactive or take other actions as outlined in the User Agreement. You will not be able to conduct any transactions in your Account until you update your mobile phone or email address in your Account profile.

Reservation of rights

We reserve the right to provide you with any Disclosure in writing, rather than electronically, or to withdraw the right to receive Disclosures electronically at any time. You agree to maintain on file with us your current street address and to promptly update your address in the event it changes by updating your Account profile. Although we may waive our fee for delivery of paper Disclosures, we reserve the right to charge the Disclosure Request Fee and to increase this fee at our discretion.

Print disclosures

We recommend that you print a copy of this Consent and any Disclosure that you view electronically for your records as the Disclosure may not be accessible online later.

Your consent

By clicking on the “Next” or “Sign Up” button in the VankPay sign-up flow, which you adopt as your electronic signature, you agree that (i) we may provide Disclosures to you electronically, on the terms and conditions outlined in this Consent, (ii) the consent shall last until you revoke your consent, and (iii) you meet the System Requirements specified above. If you do not wish to receive Disclosures electronically, you will not be able to open an Account.

General

You understand and agree that we are responsible for sending the Disclosures to you electronically by email or text to the address in your Account profile or through the Service. We are not responsible for any delay or failure in your receipt of the email or text notices and whether or not you choose to view the Disclosure, subject to your right to revoke your consent to receive Disclosures electronically.

Contact us

Except as otherwise provided by law or other agreement between you and us, you may provide us with notices regarding your Accounts by clicking the “Contact Us” link at the bottom of this page, contacting support@VankPay.com, or mailing us at Vank, LLC P.O. Box 193497, San Juan, PR 00919-3497.

COOKIE POLICY

EFFECTIVE DATE

December 11, 2023

This page is designed to help you learn more about our use of cookie and tracking technologies. This policy applies to any VankPay service that is linked to this Statement or incorporates it by reference. When you visit or interact with our sites, services, applications, tools, or messages, we, or our authorized service providers and third parties may use cookies, web beacons, and other similar technologies. These technologies allow our sites, services, applications, and tools to store relevant information in your browser or device. Our authorized service providers and third parties may place cookies on your device via our services.

WHAT ARE COOKIES, WEB BEACONS, AND SIMILAR TECHNOLOGIES?

Cookies: These are small text files (typically made up of letters and numbers) placed in the memory of your browser or device when you visit a website or view a message. Cookies allow a website to recognize a particular device or browser. There are several types of cookies:

  • Session cookies expire at the end of your browser session and allow us to link your actions during that browser session. They remain on your device only for the duration of the browser session.
  • Persistent cookies are stored on your device in between browser sessions, allowing us to remember your preferences or actions across multiple sites. They remain on your device for a longer period.
  • First-party cookies are set by the site you are visiting.
  • Third-party cookies are set by third-party sites separate from the site you are visiting.

Web beacons: Small graphic images (also known as “pixel tags” or “clear GIFs”) that may be included on our sites, services, applications, messaging, and tools, that typically work in conjunction with cookies to identify our users and user behavior.

Similar technologies: Technologies that store information in your browser or device utilizing local shared objects or local storage and other web application software methods. These technologies can operate across all your browsers, and in some instances may not be fully managed by your browser and may require management directly through your installed applications or device. We do not use these technologies for storing information to target advertising to you on or off our sites. We may use the terms “cookies” or “similar technologies” interchangeably in our policies to refer to all technologies that we may use to store data in your browser or device or that collect information or help us identify you in the manner described above.

WHAT INFORMATION DO COOKIES COLLECT WHEN YOU ACCESS OUR SERVICES?

  • Technical Usage Data: Information about response time for web pages, download errors, and date and time when you accessed the service, such as your IP address, statistics regarding how pages are loaded or viewed, the websites you visited before coming to the Sites, and other usage and browsing information collected through Cookies.
  • Information from your device: Information about your language settings, IP address, browser ID, device ID, cookie preferences, time zone, operating system, platform, screen resolution, and similar information about your device settings, and data collected from cookies.
  • Location Information: Information from IP-based geolocation such as latitude and longitude data, and Global Positioning System (GPS) information when you permit us through your device settings.

Why do we use cookies?Our uses of cookies fall into the following general categories:

  1. Essential. Some cookies are necessary for the operation of our sites, services, applications, and tools. This includes technologies that allow you access to our sites, services, applications, and tools; that are required to identify irregular site behavior, prevent fraudulent activity, and improve security; or that allow you to make use of our functions such as shopping carts, saved search, or similar functions;
  2. Performance. We may use cookies to assess the performance of our websites, applications, services, and tools, including as part of our analytic practices to help us understand how our visitors use our websites, determine if you have interacted with our messaging, determine whether you have viewed an item or link, or to improve our website content, applications, services, or tools;
  3. Functionality. We may use cookies that allow us to offer you enhanced functionality when accessing or using our sites, services, applications, or tools. This may include identifying you when you sign into our sites or keeping track of your specified preferences, interests, or past items viewed so that we may enhance the presentation of content on our sites;
  4. Marketing. We may use first-party or third-party cookies to deliver content, including targeted advertising and remarketing, on our sites or third-party sites.  This includes using technologies to understand how you interact with our services, the usefulness to you of the advertisements and content that have been delivered to you, such as whether you have clicked on an advertisement, measuring whether ad clicks resulted in successful outcomes, to help optimize our advertisement strategy to reach similar prospects, or help minimize advertisement that is not relevant to some users.

Any personal information that we collect and store using the tracking technologies for the Marketing category is based on your consent, obtained through a conspicuous disclosure on our website during your first visit. You can withdraw this consent through your browser settings as explained below.

You may manage your cookie preferences for VankPay.com by visiting our cookies settings page in the Browser you wish to manage your preferences. When resetting your marketing preferences, we recommend you reset your cookies in your browser settings.

For browser-specific information on how to adjust cookie configurations on the following browsers, please click on the relevant link below:

USE OF THESE TECHNOLOGIES BY AUTHORIZED SERVICE PROVIDERS

We may work with third-party companies, commonly known as service providers, who are authorized to place third-party cookies, web beacons, or similar technologies for storing information on our sites or in our services, applications, and tools. These service providers help us to provide you with a better, faster, and safer experience.

These service providers may use these technologies to help us deliver our content and advertising, and compile site metrics and analytics. We do not permit any of these service providers to collect any of your personal information on our sites or in our services, applications, or tools for their purposes. These service providers are subject to confidentiality agreements with us and other legal restrictions on their use or collection of any personal information.

Except for the use of such technologies by our service providers or other authorized third parties, we do not permit any third-party content on our sites. If you believe an unauthorized third party might be collecting personal information or using tracking technologies on one of our sites in violation of this Statement, please report it to phishing@VankPay.com.

AD NETWORKS AND EXCHANGES OPERATED BY AUTHORIZED THIRD PARTIES FOR INTEREST-BASED ADVERTISING

We may use third parties, such as advertising networks and exchanges, to allow us to serve you advertisements. These third-party ad networks and exchange providers may use third-party cookies, web beacons, or similar technologies to collect information about your visit to our site and elsewhere on the Internet. They may also collect your device identifier, IP address, or identifier for advertising. The information that these third parties collect may be used to provide you with more relevant advertising on our sites or elsewhere on the web. Third-party cookies are covered by the third parties’ privacy policies. 

For more information on third-party advertising-related cookies, interest-based advertising, and how to opt-out of that practice by companies participating in industry self-regulation, please visit the relevant website below based on your country of origin:

“DO NOT TRACK”

California law requires us to let you know how we respond to web browser Do Not Track (DNT) signals. Because there currently isn’t an industry or legal standard for recognizing or honoring DNT signals, we don’t respond to them currently. We await the result of work by the privacy community and industry to determine when such a response is appropriate and what form it should take.

FEES, LIMITS & BANK TRANSFER TIMELINE

EFFECTIVE DATE

December 11, 2023

BANK TRANSFER FEES FOR YOUR VANKPAY ACCOUNT

Opening and holding an account

Account setup

$0.00

No fee for online purchases

Monthly fee

$0.00

No monthly fees

Spending or sending money

Online purchases

$0.00

No fee for online purchases

In-person purchases

$0.00

No fee for in-person purchases

Receiving money

Receive merchant refund

$0.00

No fee for you when a merchant sends you a refund.

Receive consumer payments in your business profile

Puerto Rico:

 

Highly regulated businesses:

5.95% + $.75

 

Regular businesses

1.75% + $.25

There’s a transaction fee when you receive a payment sent to your business profile that is identified by the sender as for goods and services.

Receive business payments in your business profile

Puerto Rico:

 

Highly regulated businesses:

1% + $.75

 

Regular businesses:

1.75% + $.25

There’s a transaction fee when you receive a payment sent to your business profile that is identified by the sender as for goods and services.

More information

Customer service
(automated)

$0.00

No fee to call our automated Customer Service line.

Customer service
(live agent)

$0.00

No fee to call a Customer Service agent.

Real-time alerts

$0.00

No fee to receive real-time alerts on your phone. Standard text message & data rates may apply.

Account statements

$0.00

No fees for CSV copies of your account statements.

Transaction declines due to insufficient funds

$0.00

No fees for declines due to insufficient funds.

 How do the fees work?

Business Profile Owners are charged a low fee for every payment they receive of $1.00 or more.  Please note, that different fees apply depending on how your customers pay you.

For payments sent to your high-risk business profile from another Vank account, the transaction fee is a standard rate of 5.99% + $0.75 of the payment.

  • For example, if a customer pays $100.00 to a high-risk business, $6.74 of that payment would be charged as a seller transaction fee and the high-risk business would receive $93.26.

Please note, that VankPay is not able to refund this fee. These fees help Vank to continue to provide this service and develop the quality of our product further. Business profile fees are in line with industry standards.

Why doesn’t the buyer have to pay the fee?

The fees for using a Business Profile are charged to the Business rather than the customer, which is in line with industry standards.  

Can I get a refund for the fee?

The fees assessed to payments received by business profiles allow Vank to continue providing and improving the service. We are not able to refund these fees. 

Why do standard transfers take longer than instant transfers? 

Bank transfers are usually processed in 1 to 3 business days. Several factors, like weekends and holidays, may sometimes affect the ordinary process.

LIMITS

Personal profile payment limits

It is possible to send up to $1,000 per day. However, your transactions may be declined for other reasons.

Limits are subject to periodic review and may be changed based on your Vank Account history, activity, and other factors. VankPay retains sole discretion to apply and change limits.

Business profile payment limits

It is possible to send up to $10,000 per day. However, your transactions may be declined for other reasons.  

Limits are subject to periodic review and may be changed based on your Vank Account history, activity, and other factors. VankPay retains sole discretion to apply and change limits.

BANK TRANSFER TIMELINE

How long do bank transfers take? 

Bank transfers tend to be processed in 1 to 3 business days. A few different factors, like weekends and holidays, can sometimes slow things down.

  • If you requested the bank transfer on a weekday (Mon-Fri) before3 pm AST, the bank transfer could reach your bank account as soon as the next business day. (It could take up to 3 business days to arrive)
  • For example: If you request it on Monday before 3 pm AST,it could arrive in your bank account as soon as Tuesday. It shouldn’t arrive later than Thursday.
  • If you requested the bank transfer on a weekday (Mon-Fri) after3 pm AST, the bank transfer will initiate on the next business day. It could then reach your bank account as soon as the business day after that. (It could take up to 3 business days to arrive) 
  • For example: If you request it on Friday after 3 pm AST, it will initiate on the next business day, Monday. Then it could arrive in your bank account as soon as Tuesday. It shouldn’t arrive later than Thursday. 
  • If you requested the bank transfer on a weekend (Saturday or Sunday), the bank transfer will initiate on the next business day (likely Monday). It could then reach your bank account as soon as the next business day after that (as early as Tuesday). (It could take up to 3 business days to arrive) 
  • For example: If you request it on Saturday morning, it will initiate on the next business day, Monday. Then it could arrive in your bank account as soon as Tuesday. It shouldn’t arrive later than Thursday. 
  • For bank holidays, add one business day to the timeline. For a list of federal holidays that apply to most banks, please visit this page.
  • For example: If you request it on Monday before 3 pm AST, and Tuesday is a bank holiday, it could arrive in your bank account as soon as Wednesday. If you request it on Monday after 3 pm AST, it could arrive as soon as Thursday.

HELPFUL INFORMATION

EFFECTIVE DATE

December 11, 2023

Please review the following important information about VankPay. In addition to VankPay’s User Agreement, Privacy Policy, and other applicable terms and conditions, your use of VankPay is subject to the following provisions. Use of VankPay constitutes acceptance of these provisions.

PAYMENTS ON VANKPAY

VankPay should only be used to transact with people you know. Do not use VankPay to pay or receive payments from people you don’t know, especially if the payment involves the purchase or sale of a good or service. Such payments are potentially high risk, and you could lose your money without getting what you paid for. You should only consider using VankPay to purchase a good or service when you are given the option to do so, for example, (i) via approved merchant websites or apps that are authorized by VankPay to display the VankPay button as a payment method or (ii) using the VankPay Debit Card at merchants that accept the card as a form of payment.

BUYER AND SELLER BEWARE

VankPay does not offer a buyer or seller protection program for transactions conducted using the VankPay app or VankPay.com, regardless of the nature of the payment (or charge), unless expressly offered to you by VankPay. See VankPay’s User Agreement for more information on Authorized Merchant Payments.

SECURE YOUR VANKPAY ACCOUNT

You can help protect your VankPay account by enabling a passcode lock. Go to Settings > Security > Passcode Lock to enable this feature. Learn more about security on VankPay here. If you have a VankPay Debit Card, you can disable it at any time in the VankPay app.

PROHIBITED TRANSACTIONS

You may not use VankPay to conduct transactions that:

  • violate applicable law;
  • are fraudulent;
  • are made for a business or commercial purpose or that involve the purchase or sale of goods or services, except transactions expressly authorized by VankPay, for example, those conducted via approved merchant websites or apps that are authorized by VankPay to display the VankPay button as a payment method;
  • involve gambling, gaming, and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from VankPay and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law;
  • infringe any third party’s copyright, patent, trademark, trade secret, or other intellectual property rights, or rights of publicity or privacy (including, without limitation, transactions that involve counterfeit goods);

 

  • involve tobacco products, prescription drugs and devices, drug paraphernalia, narcotics, steroids, certain controlled substances, or other products that present a risk to consumer safety;
  • involve items that encourage, promote, facilitate, or instruct others to engage in illegal activity;
  • involve items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
  • involve ammunition, firearms, firearm parts or accessories, and any weapons or knives regulated under applicable law;
  • involve pornography, obscene material, or otherwise objectionable content or activities;
  • are defamatory, libelous, unlawfully threatening, or unlawfully harassing;
  • are made to earn rewards, perks, miles, points, etc. with your credit card, debit card, or bank account or are intended to test credit card behaviors or that VankPay, Visa, MasterCard, American Express, or Discover reasonably believe to be an abuse of the credit card system or a violation of credit card association rules;
  • show the personal information of third parties in violation of applicable law;
  • support pyramid or Ponzi schemes, matrix programs, other “get rich quick” schemes or certain multi-level marketing programs;
  • are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking, or transactions to finance or refinance debts funded by a credit card; and/or
  • are otherwise prohibited by, or would constitute a breach of, the VankPay User Agreement.

PAYMENT METHOD RIGHTS

EFFECTIVE DATE

December 11, 2023

ABOUT PAYMENT METHODS

VankPay allows you to make payments using a variety of methods including a bank account, debit card, and credit card. Because your level of protection against unsatisfactory purchases will vary with each method, you should review this page to understand how you can select a payment method and how protection differs depending on your payment method.

This page does not address unauthorized transactions. For information on your protection against unauthorized transactions, please see the VankPay User Agreement (Protection from Unauthorized Transactions).

PREFERRED PAYMENT METHOD

You can set separate preferred payment methods for online purchases from authorized merchants. You can manage your payment methods, including selecting preferred payment methods, in the Payment Methods section of your VankPay account settings. The transaction type, among other factors, determines when and how we use your preferred payment method, as explained below.

PAYMENT METHOD RIGHTS AND REMEDIES

Debit Card Protection

Your debit card issuer is not required by law to provide you with protection against items that you do not receive or that are significantly not as described. Many debit card issuers voluntarily protect the chargeback rights provided by credit card issuers.

VankPay may process debit card transactions through either (a) an ATM debit network such as STAR or NYCE, or (b) a Visa or MasterCard network. Transactions processed through the Visa / MasterCard network may give you additional protection compared to the ATM debit networks. You should contact your debit card issuer to learn more about your rights and remedies if you pay with your debit card.

Bank Account Protection

Your bank is not required by law to provide you with protection against items that you pay for with a bank transfer but that you do not receive or that are significantly not as described. You should contact your bank to determine if they voluntarily provide any purchase protection.

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