Terms & Conditions
COMPASS PAYSOURCESM CARD SERVICES Upon Company’s submission of a request for BBVA Compass PaySource Card Services and the approval of the online application form for this service, or upon its use of the service, whichever occurs first, Company agrees:
1. Compass PaySource Card Services.
PaySource Card Services allow Company to offer to employees and agents (hereinafter collectively referred to as “employees” or singularly as “employee”) of Company a Visa-branded Compass PaySource Card to which funds representing the employee’s or agent’s remuneration (net of taxes and other deductions) will be transferred from Company as provided herein. Any employee or agent of Company that (i) authorizes Company to enroll employee or agent of Company and (ii) who is accepted by BBVA Compass to receive a Compass PaySource Card shall be referred to as a “Participating Employee.”
2. Paysource Card Employer’s Obligations Regarding Customer
Identification Program (CIP) for BBVA Compass For each BBVA Compass PaySource Card established by Company for any of its employees, Company agrees to perform the following obligations related to BBVA Compass’ Customer Identification Program. The Company agrees: (1) to provide a notice to all employees about the collection and verification requirements of Section 326 of the USA PATRIOT Act; (2) to collect the identifying information from the employee as required by Section 326; and (3) to verify the identity of each employee. This Agreement will apply to all Compass PaySource Cards established by Company after October 1, 2008. In addition, Company agrees that it will not enroll anyone in the Compass PaySource Card who is not an actual employee or agent of Company and who does not provide the identifying information identified below.
(1) Notice to Employees The following written notice will be provided to all employees prior to or at account set-up: CUSTOMER IDENTIFICATION PROGRAM NOTICE IMPORTANT INFORMATION ABOUT OPENING A NEW ACCOUNT To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person opening an account. Prior to establishing a new Compass PaySource Card account with BBVA Compass, the Bank generally must obtain your legal name, physical residential street address, date of birth, taxpayer identification number or other identifying number (e.g., Social Security number or employer identification number) and other information that will allow the Bank to identify you. The Bank also may ask to see documentation verifying your identity, such as an unexpired driver's license or passport. With the Compass PaySource Card, your employer may request this information on behalf of the Bank during the card set-up phase. With respect to the Compass PaySource Card, this notice will be prominently displayed in the Compass PaySource Card Employee Brochure to be provided to Company by BBVA Compass. Company can satisfy this part of the Agreement by providing a copy of the Employee Brochure to each employee at or prior to enrollment.
(2) Collection of Identifying Information The following information will be obtained from the employee prior to or at the time of account set-up:
(a) Employee name. Company will obtain the employee’s full legal name, which the Company will record in the name field of the on line Cardholder Profile screen.
(b) Employee address. Company will obtain the employee’s current residential street address, military P.O. Box or, in the event that the employee does not have a current street address or military P.O. Box, the street address of the employee’s next of kin or of a "contact person," which the Employer will record in the address field of the on line Cardholder Profile screen.
(c) Employee identification number. Company will obtain the following identification information from the employee, which Company will record on the on line Cardholder Profile screen: For a U.S. citizen, a taxpayer identification number (e.g., a social security number or taxpayer identification number); for a non-U.S. citizen, a taxpayer identification number, passport number (along with the country of issuance), or an alien identification card number or the number and country of issuance of a government issued identification card which shows the employee’s nationality or residence and contains a photograph or similar safeguard.
(d) Employee date of birth. Company will obtain the employee’s date of birth, which Company will record on the online Cardholder Profile screen.
(3) Verification of employee identity
(a) Verification methods. Company will use the following method to verify the identity of employees on all Compass PaySource Cards:
(i) Comparison of I.D. documents: Each employee will be required to present a government issued photo I.D. containing a unique identification number. The Company will compare the information contained thereon to one or both of the following:
(a) comparable information already on file with the Company; and/or
(b) information presented orally by the Employee in response to the Company’s request for the name, street address, date of birth, or taxpayer identification number during the Cardholder Profile screen entries.
(b) Response when Company cannot form a reasonable belief as to the identity of a employee. If Company cannot form a reasonable belief as to the identity of a employee, it will respond as follows:
(i) Decline to Enroll Employee for a Compass PaySource Card. If the employee is unable to resolve any discrepancies in his/her identifying information to the satisfaction of Company, the Compass PaySource Card will be declined and Company must notify the BBVA Compass BSA Department at 205-297-3000. Methods used by Company to resolve discrepancies include; obtaining a satisfactory explanation from the employee; obtaining additional documentation from the employee or a 3rd party; or the use of a 3rd party database.
(ii) Use of account pending verification. Since Company intends to perform the verification prior to account opening, the employee will not be able to use the account unless and until the Company has completed the verification.
(iii) Closure of an account. Company is required to report any suspicion of fraud, including identity theft, relating to any Compass PaySource Card to BBVA Compass’ BSA Department for investigation. In the event that the Bank determines that, after a Compass PaySource Card has been funded, there was no basis for Company to develop a “reasonable belief” as to the identity of the employee, the Bank, in consultation with the Legal Department and Compliance Department, will determine what action is required. This will include a determination of whether the Compass PaySource Card account should be closed.
(4) Record-keeping For all funded Compass PaySource Cards, Company shall preserve a description of the resolution of any discrepancies for five years after the Compass PaySource Card is closed.
3. Enrollment; Issuance and Delivery of Compass PaySource
Cards. (a) Enrollment. Company shall deliver to each prospective Participating Employee that requests enrollment for a Compass PaySource Card a package containing (i) BBVA Compass’ Privacy Disclosure, and (ii) other information and instructions regarding Compass PaySource Card Services. Each of these forms and items will be provided to Company by BBVA Compass. Company agrees to offer Compass PaySource Card Services only to Company's bona fide, current employees and agents. Company represents and warrants that (i) each prospective Participating Employee voluntarily requested enrollment, (ii) and enrollment was executed by bona fide, current employees or agents of Company, and (iii) Company delivered to the prospective Participating Employee BBVA Compass’ Privacy Disclosure and information and instructions that BBVA Compass provided to Company to give to Participating Employee. (b) Issuance and Delivery of Compass PaySource Cards. After enrollment, BBVA Compass will consider the prospective Participating Employee for a Compass PaySource Card. BBVA Compass reserves the right, in BBVA Compass' sole discretion, to close an issued Compass PaySource Card to any of Company's employees or agents for any lawful reason. Unless other delivery instructions are requested by Company, BBVA Compass will deliver each Compass PaySource Card directly to the approved Participating Employee at the address specified during enrollment. Each Compass PaySource Card issued to a Participating Employee will be accompanied by (i) a copy of the Compass PaySource Card Terms and Conditions governing the Participating Employee's use of the Compass PaySource Card, and (ii) a then current fee schedule for Compass PaySource Card Services applicable to the Participating Employee. BBVA Compass may change the Compass PaySource Card Terms and Conditions, including the fees to be imposed on Participating Employees, at any time, as provided therein, by delivering to Company and each Participating Employee notice of the changes. BBVA Compass will additionally issue a Compass PaySource Card to as many as three (3) authorized users (“Authorized Users”) per Participating Employee as requested by the Participating Employee under the Compass PaySource Card Terms and Conditions. BBVA Compass may, in its sole discretion, decline or approve any or all individuals requested by the Participating Employee to be Authorized Users of the Compass PaySource Card. (c ) Each Participating Employee will have a cardholder account number established for the sole purpose of direct deposits to the Compass PaySource Card from the Company’s payroll account. Employer covenants and agrees to keep the cardholder account number confidential and not disclose the same to the Participating Employee or any third party (with the exception of a third party payroll processer).
Company is advised that certain of the Services may be provided by way of the Internet using the Visa Prepaid Administration Tool (PAT). Use of any such method of communication requires that Company receive and transmit information via connection to remote computers over telephone lines or other Internet connections. Company acknowledges that data, including e-mail, electronic communications, and confidential financial data, may be accessed by unauthorized third parties when communicated to BBVA Compass using the Internet or other network or dial-up communications facilities, telephone or any other electronic means. With respect to PAT access, Company agrees to use software produced by third parties, including, but not limited to, “browser” software that supports a data security protocol compatible with the protocol used by PAT. Until notified otherwise by BBVA Compass, Company agrees to use software that supports the Secure Sockets Layer (SSL) protocol or other protocols accepted by BBVA Compass and to follow BBVA Compass' logon procedures that support such protocols. Company acknowledges that BBVA Compass is not responsible for (i) notifying Company of any upgrades, fixes or enhancements to any such software; or (ii) any compromise of data transmitted across computer networks or telecommunications facilities, including, but not limited to, the Internet. With the exception of applications commonly known as web browser software, or other applications or access devices formally approved by BBVA Compass in writing, Company agrees not to (i) use any software, program, application or any other device to access or log on to BBVA Compass' computer systems, web site or proprietary software; or (ii) automate the process of obtaining, downloading, re-engineering, transferring or transmitting any information to or from BBVA Compass' computer systems, web site or proprietary software. In the event of any system failure, BBVA Compass may reserve the right to require additional documentation, including authorizations, from Company before accepting any order or re-instituting Company's access to PAT. Company assumes full responsibility for its selection of, access to, and use of products purchased from BBVA Compass as indicated on the online application form. Company shall be responsible for the confidentiality, maintenance, and use both of its financial information on PAT, and of its access User Names, Passwords and answers to security questions. If Company requires more than one authorized signer's signature or authorization to conduct certain transactions related to Company's account(s) or the Services, this requirement will be deemed solely for Company's own purposes. BBVA Compass will not be liable to Company as long as at least one authorized signer's signature appears on the Company's checks, drafts, instructions, or orders, or if BBVA Compass' records indicate that a transaction, payment or other product use was made by or on behalf of one authorized signer by telephone, PAT, or other method. This includes situations in which Company has provided its access User Names, Passwords and/or answers to security questions to someone else to use. Company agrees not to hold BBVA Compass liable for following Company's written orders or instructions. Company agrees not to hold BBVA Compass liable for any damages of any kind resulting from Company's disclosure of its User Names, Passwords, answers to security questions and/or account numbers to any person identified or not identified on the Implementation Form. Company will be responsible for all orders and instructions entered through and under Company's User Names, Passwords, answers to security questions and/or account number(s), and any orders or instructions so received by BBVA Compass will be deemed to have been received from Company. All orders and instructions shall be deemed to be made at the time received by BBVA Compass and in the form received. Company agrees to immediately notify (in the manner prescribed by BBVA Compass from time to time) BBVA Compass if Company learns of: – any loss or theft of User Names, Passwords, answers to security questions and/or account number(s); or – any unauthorized use of any of Company's User Names, Passwords, answers to security questions, and/or account number(s), or of the electronic Services or any of Company's information; or – any receipt by Company of confirmation of an order that Company did not place; or any similarly inaccurate or conflicting report or information.
5. Funds Transfer.
(a) Transfers. Company may transfer funds to Participating Employees by initiating an Automated Clearing House (“ACH”) entry to BBVA Compass from Company’s account that (i) contains the information and data required by BBVA Compass (as communicated to Company by BBVA Compass from time to time), (ii) identifies each Participating Employee to receive funds, and (iii) sets forth the amount of funds to be allocated to each specific Participating Employee’s Compass PaySource Card. Company’s failure to provide the funds or to initiate the ACH entry at the time or in the manner required by BBVA Compass may cause funds to be unavailable either to Participating Employees or to Company at the time or in the amount that Company requested. Company agrees that BBVA Compass shall not be responsible to Company or to any Participating Employee for any delay, loss or damage, and Company agrees to indemnify and hold harmless BBVA Compass from any delay, loss or damage, in the event BBVA Compass is unable to complete a requested ACH transfer of funds to or from any Participating Employee at the time, in the amount or in the manner Company requested as a result of Company’s failure to provide BBVA Compass with the funds or to initiate the ACH entry in the manner required by BBVA Compass necessary to complete the requested transfer. (b) Deductions. Company agrees that Company will initiate an ACH reversal or ACH debit entry only: (a)(i) if the Participating Employee was not entitled to receive either some or all of the funds transferred, and (ii) for the amount of the erroneous transfer, or (b) the Participating Employee has consented in writing to the reversal or debit entry. At BBVA Compass’ request, Company shall deliver to BBVA Compass, as applicable, (i) data and information confirming the circumstances of any erroneous transfer for which an ACH reversal or debit entry is initiated, or (ii) the Participating Employee’s written consent. Company agrees to be responsible, and agrees to indemnify and hold harmless BBVA Compass, for any losses that BBVA Compass may incur as a result of Company’s initiating a reversal or debit entry of funds transferred to the Compass PaySource Card of any Participating Employee.
6. Transactions with Compass PaySource Cards.
Each Participating Employee may access or use the funds available on the Compass PaySource Card at ATMs displaying the VISA or PLUS logos, at merchants participating in the VISA or Interlink networks, at the teller of any financial institution displaying the VISA logo, or through other methods or services approved by BBVA Compass (collectively, the “Networks”). Company agrees that (i) funds available on a Participating Employee’s Compass PaySource Card become the property of that Participating Employee and are maintained by BBVA Compass in a limited-purpose account for that Participating Employee, which account is not insured by the FDIC or otherwise protected or insured, (ii) neither Company nor any Participating Employee will be paid interest on funds that are available on a Participating Employee’s Compass PaySource Card, and (iii) BBVA Compass is authorized and directed to transfer funds from each Participating Employee’s Compass PaySource Card in accordance with any instructions received from the Networks, and to pay the amount of any such transfer, plus any fees charged in connection with the transfer, to the appropriate party or parties.
(a) Right to Terminate. BBVA Compass may, in its sole discretion, for any reason or for no reason, with thirty (30) days prior written notice, discontinue Compass PaySource Card Services to Company or terminate (i) any Participating Employee’s right to have funds transferred to a Compass PaySource Card (“Loading Rights”), or (ii) the rights of any Participating Employee or any Authorized Users to use a Compass PaySource Card (“Use Rights”); provided, however, that in the event BBVA Compass, in its sole discretion, believes that there exists any fraud with respect to the use of a Compass PaySource Card or any other misuse or inappropriate use of a Compass PaySource Card, BBVA Compass may terminate immediately and without notice Compass PaySource Card Services and any Participating Employee’s Loading Rights and Use Rights. Company may cease using Compass PaySource Card Services at any time by notifying BBVA Compass in writing, at which time all Participating Employees’ Loading Rights will be automatically terminated. If a Participating Employee’s Loading Rights are terminated automatically or by BBVA Compass, BBVA Compass may, in its sole discretion, (i) terminate the Use Rights of the Participating Employee and all Authorized Users and send a check to the Participating Employee for any funds remaining on the Compass PaySource Card, or (ii) permit the Participating Employee and any or all Authorized Users to continue to access funds stored on the Compass PaySource Card at the time of termination using the Compass PaySource Card under the Compass PaySource Card Terms and Conditions until no funds remain on the Compass PaySource Card. If BBVA Compass elects not to terminate the Use Rights, BBVA Compass will honor any request by the Participating Employee for a check for any funds remaining on the Compass PaySource Card. All Use Rights automatically terminate on a Compass PaySource Card when Loading Rights have been terminated and no funds remain on the Compass PaySource Card. (b) Terminated Employees. Company agrees that if (i) any Participating Employee’s employment with Company is terminated for any reason, or (ii) any Participating Employee notifies Company that the Participating Employee no longer wishes to participate in Compass PaySource Card Services, it shall be Company’s responsibility to delete the information and data regarding that employee from future ACH entries initiated to transfer funds from Company to Participating Employees. BBVA Compass shall have no liability for Company’s failure to delete information from an ACH entry that results in a funds transfer from Company to an individual whose employment has been terminated or who is no longer a Participating Employee.
8. Compliance with Payroll and Employment Laws and Other Rules.
Company agrees that Compass PaySource Card Services is a funds distribution service only. Company agrees that Company is solely responsible for compliance with all applicable federal, state and local laws, rules and regulations relating to payroll, compensation and employment matters, including, without limitation, as applicable, (i) federal and state wage and hour laws and regulations, (ii) proper withholding and timely remittance of any and all taxes related thereto (e.g., local, state and federal income, payroll, social security, or Medicare taxes), (iii) delivery of pay stubs and similar payroll information to Participating Employees, and (iv) any and all applicable Visa rules and/or regulations.