Eco Cardholder Agreement
Last Updated: January 19, 2023
The following terms and conditions apply if you use the Eco Card and related Eco Card Services.
This Cardholder Agreement outlines the terms and conditions under which the Eco Card has been issued to you by Patriot Bank, N.A.
NOTICE: THIS AGREEMENT REQUIRES ALL DISPUTES TO BE RESOLVED BY WAY OF BINDING INDIVIDUAL ARBITRATION. THE TERMS OF SUCH ARBITRATION APPEAR AT THE END OF THIS AGREEMENT.
In this agreement “you,” and “your,” refers to the individual, company or legal entity and/or entities that you represent. “Issuer” refers to Patriot Bank, N.A. “We”, “us”, “our” and “Eco” refers to Eco Inc. and the Issuer. “Partner banks” refers to our bank partners that provide non-card financial services to us, such as the banks we may use to perform ACH debits or payment card acquiring transactions to fund your purchases. Depending on the context, “partner banks” may also include the Issuer.
“ATM” means an automated teller machine.
The “Eco Card Services” consist of Eco software that provides you with the opportunity to apply for and use an Eco Prepaid Mastercard® (the “Eco Card”), including one or more virtual cards, in connection with your Eco Account. Eco is not a bank and we do not offer banking services as defined by the United States Department of Treasury. You must open an Eco Account before accessing the Eco Card Services.
“Eco Mobile App” means the Eco mobile application.
“Eco Platform” means the Eco mobile application plus associated websites.
“Card” or “Eco Card” means the prepaid Mastercard payment card issued to you by our partner bank. The Card is not a gift card, nor is it intended for gifting purposes. Funds are not stored on the Card or in any corresponding account, and your account with the Issuer is not interest bearing.
“PIN” means personal identification number.
“POS” means Point of Sale.
“Transaction” means transactions you are permitted to conduct using the Eco Card, specifically domestic card payments, domestic ATM withdrawals, and ancillary transactions related to said activities (such as refund transactions).
This Eco Card will be linked to your Eco Account and funded by the balance maintained in your Eco Account (your “Eco Account”). Purchases made with your Eco Card will automatically be listed in the Eco Mobile App. You will be responsible to immediately settle with Eco the cost of the purchases you make using the Eco Card that, for any reason, cannot be covered by the balance maintained in your Eco Account.
You can use the Eco Card to make purchases for certain goods and services online or wherever Mastercard is accepted.
The following fees are assessed by Eco on your use of the Eco Card:
Bill payment (regular delivery)
Bill payment (expedited delivery)
ATM operators may charge their own fee.
Customer service (automated)
No fee for calling our automated customer service line, including for balance inquiries.
Customer service (live agent)
ATM balance inquiry
ATM operators may charge their own fee.
Using your card outside the U.S.
Of the U.S. dollar amount of each transaction.
International ATM withdrawal
ATM operators may charge their own fee.
International ATM balance inquiry
ATM operators may charge their own fee.
Not FDIC insured. Your funds will be held at or transferred to Patriot Bank. If Patriot Bank fails, you are not protected by FDIC deposit insurance and could lose some or all of your money.
No overdraft/credit feature.
Contact Eco by email at email@example.com or by calling 1 (888) 322-7838.
For general information about prepaid accounts, visit cfpb.gov/prepaid. If you have a complaint about a prepaid account, call the Consumer Financial Protection Bureau at 1-855-411-2372 or visit www.cfpb.gov/complaint.
Your Transactions (including ATM withdrawals) may be subject to additional fees from individual merchants or ATM operators. These fees are not assessed or received by Eco and are not included in the above list.
In order to access the Eco Card Services, you represent that:
By accepting these terms, you also represent that:
With each Transaction you process through the Eco Card Services you represent, warrant and agree that, as may be applicable to such Transaction:
If you use Eco Card Services to withdraw cash using an ATM, fees may be charged by the operator of that ATM or other third parties involved in such Transaction.
You may not, nor may you permit any third party, directly or indirectly, to:
In addition, you may not, nor may you permit any third party, directly or indirectly, to use the Eco Card Services for the following businesses or activities:
You are responsible for all authorized Transactions initiated and fees incurred by use of your Eco Card(s). If you permit another person to have access to a Card or Card number, this will be treated as if you authorized such use and you will be liable for all Transactions and fees incurred by those persons. You are wholly responsible for the use of each Card according to the terms and conditions of this Agreement.
When you use the Eco Card Services you authorize the Issuer to immediately debit your Eco Account by the amount of any Transactions made using an Eco Card including any applicable fees. In the event that your Eco Account does not have a sufficient balance to cover all Transactions made using an Eco Card, you authorize us to complete a Transaction from any funding source linked to your Eco Account (an “Alternate Funding Account”) in the amount necessary to cover the difference between your Eco Card Transactions and your Eco Account balance (the “Overage Amount”). Your authorizations will remain in full force and effect until you close a Card or your Eco Account is closed or terminated. Any attempt by you to revoke this authorization will result in your inability to use the Eco Card Services.
If you provide us with the ACH routing and account information for your Alternate Funding Account, you authorize Eco and our partner bank to initiate electronic transfers (via the Automated Clearing House (“ACH”) of NACHA – The Electronic Payment Association (“NACHA”) from your Alternate Funding Account up to the Overage Amount. You agree that ACH Transactions you authorize comply with all applicable laws.
For all other payment methods used as Alternate Funding Accounts, such as debit card funding, you authorize Eco to transmit payment details to a bank acting under Eco’s instructions to charge your Alternate Funding Account up to the Overage Amount. You agree to maintain funds in the specified Funding Account that are sufficient to cover all of your activities with the Eco Card Services.
You indemnify and hold us and our partner banks harmless from any claims by any other owner of the account. You are responsible for confirming the accuracy of the information you provide about each payment.
If we are unable to access funds from your Eco Account to complete a Transaction that you request for any reason (for example, if there are insufficient funds or credit available in your Eco Account to cover the requested Transaction), the Transaction may not be completed. In such case, you agree:
You agree that Eco and the Issuer may modify this agreement, or any other Eco terms, policies, or guidelines at any time in our sole discretion. Any new agreement will be effective immediately, by posting a new agreement and updating the “Last Updated” date at the top of these terms. You agree that even if you have not personally visited the website with the new terms of this agreement, that they have full force immediately. To the extent permitted by applicable law, you agree to waive any right you may have to receive additional notice of such changes.
Your continued use of the Services following the posting of changes or modifications will confirm your acceptance of such changes or modifications. You should frequently review these Terms and all applicable terms, policies and guidelines to understand the terms and conditions that apply to your use.
If you do not agree to the amended terms, you must stop using the Services. Any use of the Services in violation of these Terms may result in, among other things, termination or suspension of your right to use the Services. You agree that your use of the Services will always be subject to the most current version of these Terms of Service at the time of such use.
You acknowledge that Eco or our partner banks may impose limits on your use of the Card Services. We may not allow payment from all types of funding sources and that we may otherwise limit payments, and/or payees at our discretion. You cannot use virtual cards in any way beyond their intended purpose.
For security and fraud protection, Eco will impose limits on the dollar amount that you can authorize in a Transaction (including an ATM withdrawal), and or in a series of Transactions over a period of time. In addition to these set limits, Eco and its partner banks retain the right to impose additional limits at our discretion. The maximum amount initially allowable for authorization is $10,000 per Transaction and $20,000 per twenty-four (24) hours ; in addition, Transactions that are ATM withdrawals are subject to an individual aggregate limit of $500 per twenty-four (24) hours, and such withdrawals count separately towards the aggregate Transactions limit of $20,000 per twenty-four (24) hours. These limits are subject to increase or decrease at our discretion based on an algorithmic review process and a manual review process.
Your Eco Card may be used only for domestic card payments and ATM withdrawals, in each case within the United States, and cannot be used for international card transactions. Additional limitations on Eco Card use may be imposed at any time at our sole discretion and without prior notice.
Eco and our partner banks reserve the right to investigate your use of the Service for compliance with this Agreement, and in order to comply with law, regulation, legal process or government request.
We may refuse to process any transaction that we believe violates the terms of this Agreement, the Eco Terms of Service, any other agreements between you and Eco or any applicable network rule or law.
The Eco Card is the property of the Issuer and must be surrendered upon demand. The Card is nontransferable and it may be canceled, repossessed, or revoked at any time without prior notice.
If we suspect you of violating any applicable Terms of Service, network rule or law, Eco or Issuer may suspend or terminate your ability to access the Services under any or all of your accounts. Eco reserves the right to determine whether or not you have access to these services.
To help the government fight the funding of terrorism and money laundering activities, federal law requires us to help the Issuer obtain, verify, and record information that identifies each person who requests to use the Eco Card Services.
When you register for the Eco Card Services we will ask you for your name, address, date of birth, your Social Security number, and other information that will allow us to identify you. You authorize us and our partners to make inquiries that we consider appropriate and use third party services to help us verify your identity and determine if we should open, maintain, collect or close your account.
We may make additional requests for information at any time. We may require you to provide all of a taxpayer identification number, take steps to confirm ownership of your email address or financial instruments, provide a copy of an identifying ID card such as a driver’s license or passport, and verify information you provide against third party databases or through other sources.
We, and our partner banks, may also report the status, history and/or closure of your account to third-party services.
If you do not provide this information or we cannot verify your identity, we can refuse to allow you to use the Services, or suspend or terminate your account. If you allow someone else to use your Eco Account, you are responsible and liable for all Transactions, withdrawals, deposits and fees that arise out of such use.
When you use your Eco Card a record of the Transaction will automatically be recorded in the “Activity” section of the Eco Mobile App. You should also receive a receipt directly from the Merchant.
You also have the right to obtain at least twenty-four (24) months of written history of Account Transactions by calling 1 (888) 322-7838, or by writing to us at firstname.lastname@example.org. You will not be charged a fee for this information.
Except as required by law, you are responsible for:
If you believe that there is an error or unauthorized Transaction activity sassociated with your Eco Account, you must contact us immediately.
If you are entitled to a refund for any reason for goods or services obtained with your Card, the return and refund will be handled by the merchant. If the merchant credits your Card, the credit may not be immediately available. While merchant refunds post as soon as they are received, please note that we have no control over when a merchant sends a credit transaction and the refund may not be available for a number of days after the date the refund transaction occurs. Refunds will be recorded along with your Transactions in the Activity section of the Eco Platform.
Neither the Issuer nor Eco is responsible for the delivery, quality, safety, legality or any other aspects of the goods or services you purchase from others with the Card. If you have a problem with a purchase you made with the Card, or if you have a dispute with the merchant, you must handle it directly with the merchant
You agree to comply with the Transaction dispute resolution procedure described below for any payments made using an Eco Card. If you’re unable to resolve a Transaction related issue directly with a merchant, please notify us as soon as possible. This is our process for resolving disputes.
In case of errors or questions about your Card, contact us at email@example.com or by mail to Eco, Inc., 2261 Market Street #4348, San Francisco, CA 94114, Attn: Legal Department, as soon as possible. Our phone number is 1 (888) 322-7838 and our normal business hours are Monday through Friday, 9 am to 5 pm Pacific Time, excluding applicable holidays. We must allow you to report an error until sixty (60) days after the earlier of the date you first electronically access your Card or the date we sent the FIRST written history on which the error appeared. You may request a written history of your transactions at any time by contacting us using the contact information provided above. You will need to tell us:
We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your Card within ten (10) business days for the amount you think is an error, so that you will have the use of the money during the time it takes to complete the investigation. If we ask you to put your complaint or question in writing and you do not provide it within ten (10) business days, we may not credit your Card.
For errors involving new Cards, POS Transactions or foreign-initiated transactions, we may take up to ninety (90) days to investigate your complaint or question. For new Cards, we may take up to twenty (20) business days to credit your Card for the amount you think is an error.
We will tell you the results in writing within three (3) business days after completing the investigation. If we decide that there was no error, we will send you a written explanation. Copies of the documents used in the investigation may be obtained by contacting the phone number or address shown at the beginning of this section. If you need more information about our error-resolution procedures, call 1 (888) 322-7838 or email firstname.lastname@example.org .
If you believe your Eco Card has been lost or stolen or you believe a Transaction has been made without your permission using information from your Card, or Eco Card Account or you believe your Eco Account Credentials have been used without your permission tell us AT ONCE, and FREEZE the relevant card(s) via the “Your Cards section in the Eco Mobile Apps. Reporting your Card lost or stolen, and any unauthorized or unexpected activity to email@example.com as soon as possible is the best way of keeping your possible losses down.
We may suspend or cancel your Card and corresponding Eco Account in the event of excessive reports of Card loss or theft. You agree that any unauthorized use does not include use by a person to whom you have given authority to use the Card or PIN and that you will be liable for all such uses by such person. For example, if you have given your Card or Card information to another person to use, such as a friend or relative, you are responsible for that person’s Transactions with your Card, and if you have given your Card information to a merchant for a Transaction, you have given authority to that merchant to debit the Card for that Transaction.
Under Mastercard rules, you will not be held responsible for unauthorized Transactions if you have taken reasonable precautions in protecting your Card from loss or theft and you have promptly reported to us that your Card was lost or stolen (“Mastercard Zero Liability”). Mastercard Zero Liability does not apply to Mastercard payment cards that are used for commercial purposes, or anonymous prepaid cards (until such time as the identity of the cardholder has been registered with us). In the event that Mastercard Zero Liability does not apply, if you tell us within two (2) business days after you learn of the loss or theft of your Eco Card, you can lose no more than $50 if someone used your Eco Card without your permission. If you do NOT tell us within two business days after you learn of the loss or theft of your Eco Card, and we can prove that we could have stopped someone from using your Eco Card, without your permission if you had told us, you could lose as much as $500.
Also, if you become aware of and/or your periodic statement shows Transactions you did not make, notify Eco at once following the procedures stated in the Section of this Agreement titled “Disputes”. If you do not notify Eco within sixty (60) days after you become aware of the Transaction and/or after the statement was made available to you, you may not get back any value you lost after the sixty (60) days if Eco can prove that we could have stopped someone from taking the value if you had notified Eco in time. If a good reason (such as a long trip or hospital stay) kept you from telling us, Eco may extend the time periods. If the Card has been lost or stolen, the Card will be blocked to keep losses down.
You agree to cooperate reasonably with us and the Issuer in our attempts to recover funds from, and to assist in the prosecution of, any unauthorized users of your Card.
Under Mastercard Rules, you will not be liable for any unauthorized Transactions using your Eco Card if you can demonstrate that you have exercised reasonable care in safeguarding your Card from risk of loss or theft. You must notify us within two (2) days after the electronic statement was made available to you showing unauthorized Transaction(s) in order to take advantage of any such limited liability provisions.
As part of your use of the Services provided by Eco and the Issuer, you are entitled by law to receive certain information in writing. The federal ESIGN Act allows us to provide this information to you electronically, instead, with your prior consent. You agree and consent to receive electronically all communications, agreements, documents, notices and disclosures (collectively, Communications) that we and the Issuer provide in connection with your Eco account (Account) and your use of our services. We, or the Issuer, will provide these Communications to you by posting them on www.ecoapp.com,, pushing notifications through the Services, and/or by emailing them to you at the email address registered to your account.
Electronic disclosures and notices have the same meaning and effect as if they had been provided to you as paper copies. Such disclosures and notices are considered received by you within twenty-four (24) hours of the time posted to our website, or within twenty-four (24) hours of the time emailed to you unless we, or the Issuer, receive notice that the email was not delivered.
If you wish to withdraw your consent to receive Communication electronically, you may do so by emailing us at firstname.lastname@example.org. Please note, however, that if you withdraw your Electronic Consent, you may no longer use our service.
YOU MUST KEEP YOUR EMAIL CURRENT WITH US in order for us to be able to provide you with important notices and other information from time to time, and you must ensure that the contact information, including the email address registered to your account, is current.
You are responsible for notifying us of any change in your name, physical address, mailing address, email address, or phone number. Requests for address or name changes may be subject to additional verification requirements.
We will attempt to communicate with you only by use of the most recent contact information you have provided to us. You agree that any notice or communication sent to you at an address noted in our records shall be effective unless we have received an address change notice from you.
We cannot accept responsibility for any email messages not received by you or for any delay in the receipt or delivery of any email notification. If you make your email account available to any other individual, you agree that you are responsible for any release of any Account information to such individual.
You acknowledge and agree that the Issuer and Eco may, subject to applicable law, share information regarding you, your Card, your Eco Account, your Card request and Card Transaction activity as necessary to provide customer service, service the Card or your Eco Account, investigate and act on the Card or your Eco Account and/or your Card- or Eco Account-related claims and as necessary to comply with applicable law. Information about the Card, your Eco Account, or the Transactions you make with any of them may be disclosed to third parties:
Eco and the Issuer are not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase with an Eco Card.
From time to time the Card services may be inoperative, and when this happens, you may be unable to use your Card or obtain information from your Card, including your Eco Account. Please notify us immediately at email@example.com if you have any problems using your Card. You agree that the Issuer, Eco, and their respective affiliates, employees, or agents are not responsible for any interruption of service.
You agree to defend, indemnify, and hold harmless Eco and Issuer, our parents, subsidiaries, and other affiliated companies, and our and their employees, contractors, officers, and directors against any and all claims, suits, damages, costs, lawsuits, fines, penalties, liabilities, and expenses (including, without limitation, reasonable attorneys’ fees) that arise from your violation of this Agreement, applicable law, or any third-party rights or your fraud or willful misconduct. We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.
EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT OR AS OTHERWISE REQUIRED BY APPLICABLE LAW, NONE OF ECO, ISSUER, OUR AFFILIATES, AND THE PARTIES WITH WHOM WE CONTRACT IN ORDER TO OFFER THE CARDS, YOUR ECO ACCOUNT, AND RELATED SERVICES ARE NEITHER RESPONSIBLE NOR LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATING IN ANY WAY TO THE CARDS, THE ECO CARD SERVICES, ANY PRODUCTS OR SERVICES PURCHASED USING AN ECO CARD, OR THIS AGREEMENT (AS WELL AS ANY RELATED OR PRIOR AGREEMENT THAT YOU MAY HAVE HAD WITH US).
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE TOTAL LIABILITY OF ECO AND ISSUER IS LIMITED TO THE GREATER OF (A) THE AMOUNT OF FEES EARNED BY ECO IN CONNECTION WITH YOUR USE OF THE SERVICES DURING THE MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY OR (B) $10.
The provisions related to indemnification, limitation of liability, and any other provisions necessary to give effect to a party’s rights shall survive the termination of the Agreement; the bankruptcy of any party, any transfer, sale or assignment of the Card; or expiration of the Card.
If you have a complaint or dispute with Eco or Issuer (a “Complaint”) you agree to first contact Eco or Issuer directly, as applicable, so that such party may attempt to resolve your Complaint. If your Complaint cannot be resolved within 15 business days, your sole and exclusive remedy for any Complaint, dispute, controversy or claim, whether founded in contract, tort, statutory or common law, concerning or arising out of this Agreement or your use of the Eco Card, including the applicability, scope or validity of this Section E (a “Claim”), shall be pursuant to the binding arbitration provisions below.
Notwithstanding any other provision in this Agreement, if either you have any Claim, such Claim will be settled by individual (not class or classwide) binding arbitration administered by the American Arbitration Association (“AAA”) in accordance with the then current Commercial Financial Disputes Arbitration Rules, including any expedited procedures. A demand that a Claim be submitted to arbitration may be made before the initiation of any legal proceeding or within ninety (90) days following the service of a complaint, third-party complaint, crossclaim or counterclaim and if a party in a pending legal proceeding demands a Claim to be submitted to arbitration, the party initiating the action will immediately dismiss the legal proceeding and file the claim in arbitration. Arbitration hearings will be held in a mutually agreeable location or if no such agreement can be reached, in San Francisco, California. A single arbitrator will be appointed by the AAA and approved by each party. The arbitrator shall be a practicing attorney or retired judge having experience with and knowledge of online commerce law. The arbitrator will follow the law and will give effect to any applicable statutes of limitation. The prevailing party shall be entitled to an award of the costs and expenses of the arbitration, including court fees, attorneys’ fees and expert witness fees. A judgment on the award may be entered by any court having jurisdiction. The parties agree and acknowledge that this agreement evidences a Transaction involving interstate commerce and that the Federal Arbitration Act (Title 9 of the United States Code) shall govern the interpretation, enforcement, and proceedings pursuant to the arbitration clause in this User Agreement.
TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS MUST BE BROUGHT IN A PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS OR ENGAGE IN ANY CLASS ARBITRATION. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND ECO ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION.