We’ve recently updated our: (1) Terms of Service and (2) Privacy Policy (collectively, “Terms”). If you signed up for an account prior to February 11, 2019, we’ll ask you to agree to the new Terms of Service when you use SPARE on or after March 01, 2019; until March 01, 2019 the prior Terms of Service will continue to apply to you. The updated Privacy Policy will automatically come into effect for all existing users on March 01, 2019. Your continued use of the SPARE Services from that day on will be subject to the new Privacy Policy. Please read these Terms carefully. If you signed up for an account on or after February 11, 2019, the updated Terms apply to you. Learn more about what’s changing.
Please read these Terms carefully as they contain important information about your legal rights, remedies and obligations. By accessing or using SPARE, you agree to comply with and be bound by these Terms.
Please note: [Section XX] of these Terms contains an arbitration clause and class action waiver that applies to all SPARE users and applies to all disputes with SPARE. If your country of residence is outside of the United States, this provision applies to any action you bring against SPARE in the United States. It affects how disputes with SPARE are resolved. By accepting these Terms, you agree to be bound by this arbitration clause and class action waiver. Please read it carefully.
Thank you for using SPARE!
These Terms constitute a legally binding Agreement ("Agreement") between you and SPARE CS, Inc (referred to in this Agreement as “SPARE”, “Company”, “we,” “us,” or “our”) governing your access to and use of the SPARE website ("Site"), our mobile, tablet and other smart device applications (collectively, "Application") and all associated services (collectively, "SPARE Services"). The Site, Application and SPARE Services together are hereinafter collectively referred to as the “SPARE Platform”. Our Privacy Policy, Prepaid Card Agreement and Electronic Communications Policy are incorporated by reference into this Agreement.
We may amend this Agreement at any time by posting a revised version on our website. The revised version will be effective at the time we post it.
You acknowledge and agree that this Agreement is between you and Company, not with any third party (including, but not limited to, Apple®, Google®, any mobile carrier, or any Participating Merchant (as defined below)), and that Company is solely responsible for the SPARE Platform. Your use of the SPARE 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® or Verizon®), and other parties involved in providing your mobile device service. Participating Merchants, third party operating system providers such as Apple, Google, and Microsoft, your phone or other mobile device manufacturer, your wireless carrier or other network provider, any other product or service provider related to your mobile device service are collectively referred to as "Covered Third Parties." You agree to comply with all applicable third-party Terms of Agreement when using the Services. SPARE is not a party to those Agreements and has no responsibility for the products and services provided by third parties.
Please note that if SPARE is to open its application programming interface ("API"), so you may be subject to Agreements with third parties when using a service that was not created by SPARE, SPARE has no liability or responsibility for your use of these third-party services.
Spare is a payment service that people use for a variety of reasons. Some people use it to send or receive money from friends and family. Other people use it to get real cash in hand or to buy products or services from Authorized Agents. Authorized Agents running full-time brick-and-mortar businesses may use SPARE to accept requests to dispense cash or to accept payment for products or services.
Currently, you may only use the SPARE Services in the United States. To be eligible for using SPARE Services, you must create an account with a cellular/wireless telephone number that you own. You may also initiate account registration by connecting with your Facebook and/or Google account, however, we will still need additional information to create your account. You hereby authorize SPARE, directly or through third parties, to make any inquiries we consider necessary to validate your identity and/or authenticate your identity and personal information.
SPARE may also require that you submit certain personal information, including but not limited to your name, email address, text-enabled cellular/wireless telephone number, street address or zip code, date of birth, and social security number to Company (“Personal Information”). During the registration process, or when you access SPARE Application from a phone, your phone's device ID is also stored. You agree that the Personal Information you provide to Company upon registration and at all other times will be true, accurate, current and complete. You agree to maintain and update this Personal Information to keep the Personal Information true, accurate, and complete.
You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs, QR Codes, NFC tokens), or any other codes that you use to access your SPARE account and the SPARE Platform. You are responsible for keeping your mailing address, email address and other contact information up-to-date in your SPARE Account profile.
We offer two different types of accounts, personal and business accounts (“SPARE Accounts”). You may have only one personal account. We may require that you provide more information in order to complete a transaction. You consent to SPARE obtaining your personal and/or business credit report from a credit reporting agency at account opening and whenever we reasonably believe there may be an increased level of risk associated with your business account. We may reverse or place a hold on your transactions or place a reserve on your funds if you are in breach of this Agreement, including, but not limited to, if you are using a personal account for business purposes or a business account for personal, family or household purposes.
Personal SPARE accounts are for individuals to use in peertopeer transfers to friend and family, obtain cash from and/or buying products or services from Approved Merchants (“Personal Account”). Some features of personal accounts may be limited based on how you wish to use the SPARE Service, how much you need to send or withdraw and what we know about you.
Increase foot traffic to your business by offering a service your customers will appreciate. Business accounts are to be used by for businesspersons or organizations with brick and mortar locations to dispense cash to holders of Personal Accounts, and to send and receive funds (“Business Account”) Peer-to-peer transfers can be used to purchase products and services from Authorized Agents. Only Business Accounts with a physical place of business can dispense cash. Business accounts may be subject to fees that differ from the fees applicable to personal accounts. Business, commercial or merchant transactions may not be conducted using personal accounts. For each business you are involved with, you may have only one Business Account. Business Account use is limited. By opening a business account and accepting the Terms as outlined in this Agreement, including, but not limited to, the Rules and Restrictions for Business Accounts set forth below, you attest that neither you nor your business is establishing a business account primarily for personal, family or household purposes. In addition, when the activity through your business account reaches certain thresholds or involves certain business segments or activities, you are required by the card networks to agree to a Commercial Entity Agreement to allow you to continue accepting Visa and MasterCard payments.
You hereby authorize Company, directly or through third parties, to make any inquiries we consider necessary to validate your identity and/or authenticate your identity and account information and, for Business Accounts, your company or employer. This may include asking you for further information and/or documentation about your account usage or identity, or requiring you to take steps to confirm ownership of your email address, wireless/cellular telephone number or financial instruments, and verifying your information against third party databases or through other sources. This process is for internal verification purposes.
You may view your transaction history by logging into your SPARE Account. You agree to review your transaction history through the mobile app instead of receiving periodic statements by mail.
If you use SPARE as means of logging into external websites or mobile apps, we may share your login status with any third party offering the SPARE Service as a login method, as well as the personal and other account information that you consent to being shared so that the third party can recognize you. SPARE will not give such third-party access to your SPARE Account and will only make payments from your SPARE Account to that third party with your specific authorization.
If you offer the SPARE Service as a means for visitors to log into your website, app, or otherwise for your customer accounts, you must agree to any specific Terms applicable when this functionality is made available to you, and comply with any specifications in any integration manual or guideline. SPARE does not guarantee or otherwise represent the identity of any user of this login method. SPARE will not share with you the personal and other account information of the user (including login status) held by SPARE unless the user has consented to our disclosure of that information to you.
When you close your SPARE Account, we will cancel any scheduled or incomplete transactions. You must withdraw or transfer any SPARE balance from your SPARE Account before closing it. If you have not provided the required identifying information to us, or if we are unable to verify the required identifying information you provide, you must transfer any SPARE balance to a linked bank account or debit card. You will remain liable for all obligations related to your SPARE Account even after the SPARE Account is closed. In certain cases, you may not close your SPARE Account, including:
If you attempt to close your account while we are conducting an investigation, we may hold your funds for up to 180 days to protect Company or a third party against the risk of reversals, chargebacks, claims, fees, fines, penalties and other liability. You will remain liable for all obligations related to your account even after the account is closed.
In order to manage risk, SPARE may limit the funding sources available for your use to fund any particular transaction. For example, we may limit your funding sources for a particular transaction to debit cards or your checking account. Please note that the various funding sources have different dispute resolution means should your transaction turn out to be unsatisfactory.
When your checking account is used as your funding source, you are requesting that we initiate on your behalf an electronic transfer from your bank account. For these transactions, SPARE will make electronic transfers (via the Automated Clearing House ("ACH") of NACHA - The Electronic Payment Association ("NACHA")) from your bank account in the amount you specify. You agree that such requests constitute your authorization to Company to make the ACH transfer, and once you have provided your authorization for the transfer, you will not be able to cancel the electronic transfer and Company may resubmit any ACH debit you authorized that is returned for insufficient or uncollected funds, except as otherwise provided by NACHA's ACH rules (collectively, the "ACH Rules"), or applicable law.
Company will process your debit card¬-funded transactions through either the debit card's ATM debit network or the Visa/MasterCard network, as Company may elect at its discretion.
Your SPARE account balance consists of the funds you have in your SPARE Account that are available for new transfers and are not subject to pending transfers (“SPARE Balance”). We always use your SPARE Balance first if the balance is sufficient to cover your payment. If there is not enough money available in your SPARE Balance to cover the transaction, we use your designated primary funding source to make the payment in its entirety.
The balance functionality in your SPARE Account will differ depending on whether we have been able to verify the required identifying information that you provide to us. The required identifying information includes: name, physical address, date of birth and taxpayer identification number.
You do not need to maintain a balance in your account in order to make payments. If you do hold a SPARE Balance, SPARE will hold your funds separate from its corporate funds, will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make your funds available to its creditors in the event of bankruptcy. While your funds are in our custody, SPARE will combine your funds with the funds of other users and place those pooled accounts in one or more bank accounts in Company's name.
SPARE is not a bank or other chartered depository institution. Funds held by Company or its service providers (including any bank service providers) in connection with the processing of transactions are not deposit obligations and are not insured for the benefit of the user by the Federal Deposit Insurance Corporation or any other governmental agency. Funds held in balance are an ancillary function of enabling money transmission and not for other benefit.