Novel Business VISA Debit Cardholder Agreement

Last Modified: March 3rd, 2021

Please read this Novel Cardholder Agreement (the “Agreement”) carefully and retain it for your future reference. This Agreement applies to all transactions resulting from the use of your Debit Card (the “Card”) through an automated teller machine (ATM), a Point-of-Sale (POS) terminal or any other use of the Card(s), whether electronic or not, which has been made available to you by Novel Financial, Inc. (“Program Partner”), the program partner responsible for managing the Card program, in partnership with Blue Ridge Bank, N.A. (the “Bank”), member of the Federal Deposit Insurance Corporation (“FDIC”).

Please read this Agreement carefully and keep it for your records. The agreement you make with us, and the rights and obligations we both have, are governed by and interpreted according to the state of Virginia and federal law. This Agreement, together with other agreements or disclosures you may receive from us, such as the Novel Business Deposit Account Agreement (“Account Agreement”), establishes our and your rights and obligations.

When you see the words “we,” “us,” or “our” in this Agreement, it refers to the Bank, the Program Partner acting as agent for the Bank, and any of the Bank’s affiliates, successors, assignees, agents or service providers. When you see the words “you” or “your,” it refers to you, the owner of the Account, as well as your personal representatives, executors, administrators, and successors.

You authorize us to pay from your deposit account (“Account”) the total amount of any transaction originated by proper use of the Card. You also agree that the use of the Card described in this Agreement shall be subject to the rules, regulations and fees governing each deposit account which is accessed by such Card, including but not limited to the Bank's right of set-off.

1. Activating the Card and Setting a PIN

1.1 Card Agreement Acceptance and Card Activation

This Card requires activation before you may use it. You may activate the Card by
calling [CLIENT specific VISA TFN - Unit to provide]. Your activation and use of the
Card means that you agree to the terms and conditions described in this

If you do not want to activate the Card, you should cut the Card in half and dispose
of it.

1.2 Personal Identification Number (PIN)

You will be required to select a 4-digit personal identification number (PIN) prior to
using the Card for the first time. The 4-digit numerical PIN issued to you is for
security purposes. The PIN represents your signature authorizing transactions made

using your Card, identifies the bearer of the Card, and serves to validate and
authenticate the directions given to complete the Card transactions.


1.3 Permissible Uses of Your Card

You agree that you will use the Card only for business purposes and it will not be
used for personal, household or family purposes.

2. Use of the Card

2.1 ATM and Point-of-Sale PIN Withdrawals

With your PIN, you can use your Card to obtain cash from your Account up to your
Available Balance at any ATM or any Point-of-Sale (“POS”) device in the United
States that displays the Visa, VisaATM, Plus, Interlink, or Accel acceptance marks.
Not all merchants will permit you to get cash back through their POS devices.

If you use an ATM, including a balance inquiry, you may be charged a fee by the
ATM operator even if you do not complete a withdrawal. This ATM fee is a third-
party fee assessed by the individual ATM operator only and is not assessed or
controlled by us. This ATM fee amount will be charged to your Account in addition to
any applicable fees disclosed in this Agreement or your Account Agreement.

2.2 Retail Card Purchases

You may use your Card to make purchases using your PIN at any merchant with a
POS device anywhere that displays the Visa, VisaATM, Plus, Interlink, or Accel
acceptance marks. You may also use your Card to make purchases without your PIN
anywhere that Visa debit cards are accepted.

2.3 Split Transactions

You can instruct a merchant to charge your Card for part of a purchase and pay any
remaining amount with cash or another card. This is called a “split transaction.”
Some merchants do not permit split transactions. If you wish to conduct a split
transaction, you must tell the merchant the exact amount you would like charged to
your Card. If you fail to inform the merchant you would like to complete a split
transaction and you do not have sufficient available funds in your Account to cover
the entire purchase amount, your Card is likely to be declined.

2.4 Card-Not-Present Transactions

You may make retail card purchases without presenting your Card by providing
information from your Card, such as transactions done by internet or telephone.
Conducting transactions in this way has the same legal effect as if you used the
plastic Card itself. For security reasons, the amount or number of such transactions
you may make may be limited.

2.5 Virtual Card Use

When you open an Account, you may also request up to ten (10) virtual cards
(“Virtual Card”), each represented by a 16-digit card number, a 3-digit card
verification value (“CVV”) number, and an expiration date. The Virtual Cards are
separate from your physical Card and can be managed through the Online Banking
Services (see Section 1.3 of the Account Agreement). We will issue you replacement
Virtual Cards when they expire. The Virtual Cards access the available funds in your
Account to make card-not-present transactions (see Section 2.5) anywhere Visa
debit cards are accepted in the same way as your physical Card. The Virtual Cards
can also be added to a digital wallet (see Section 2.7) in the same way as your
physical Card. Your use of the Virtual Cards is subject to the terms of this
Agreement, including transaction limitations, to the same extent as your physical

2.6 Use of the Card with Digital Wallets

A digital wallet (“Wallet”) provides another way for you to make purchases with
your Card. A digital wallet is a service provided by another company (such as Apple
Pay, Android Pay, Samsung Pay, etc.), that allows you to use your Card to enter into
transactions where the Wallet is accepted. A Wallet may not be accepted at all
places where your Card is otherwise accepted, and your Card may not be eligible for
all the features and functionalities of the Wallet. Any use of your Card in or through
the Wallet continues to be subject to all terms and conditions of this Agreement. We
may terminate your access to or use of your Card with a Wallet at any time and for
any reason, including if you violate any of the terms or conditions of this

You can add or remove your Card from a Wallet by following the instructions
provided by the Wallet provider. By doing this, you agree to allow us to share your
Card information with the Wallet provider. You may be required to take additional
steps to authenticate yourself before your Card is added to the Wallet. We do not
charge you any additional fees for adding your Card to a Wallet or for using your
Card in the Wallet. However, any fees and charges that would apply when you use
your Card outside the Wallet will also apply when you use a Wallet to make
purchases with your Card or otherwise access your Card. The Wallet provider and
other third parties such as wireless companies or data service providers may charge
you fees. The digital version of your Card in a Wallet may, in our sole discretion, be
automatically updated or upgraded without notice to you.

We are not the provider of the Wallet, and we are not responsible for providing the
Wallet service to you or for ensuring that your Card is compatible with any Wallet
service. We are only responsible for supplying information to the Wallet provider to
allow usage of your Card in the Wallet as you have requested. We are not
responsible for any failure of the Wallet, any mobile device you use with the Wallet,
or the inability to use the Wallet for any transaction. We are not responsible for how
the Wallet provider performs its services or any other third parties regarding any
agreement you enter into with the Wallet provider or other third party. We do not
control the privacy and security of any of your information that may be held by the
Wallet provider. Any information held by the Wallet provider is governed by the
privacy policy given to you by the Wallet provider. If you have location services
enabled on your mobile device, the location of your mobile device may be collected
and shared by the Wallet provider in accordance with their respective data and
privacy policies, including with us. If you request to add your Card to a Wallet, you
authorize us to collect, transmit, store, use and share information about you, your
mobile device, and your use of the Card in accordance with our privacy policy, as
amended from time to time, available at


If you have any questions, disputes, or complaints about a Wallet, contact the
Wallet provider using the information given to you by the provider.

2.7 Foreign Transactions

Charges from foreign merchants and financial institutions may be made in a foreign
currency. We will bill you in U.S. dollars based on the exchange rate on the day we
settle the transaction, plus any special currency exchanges charges that may be
imposed by us, the Visa network and/or by any third-party used to complete the

The exchange rate between the transaction currency and the billing currency used
for processing international transactions is a rate selected by Visa from the range of
rates available in wholesale currency markets for the applicable central processing
date, which may vary from the rate Visa itself receives, or the government-
mandated rate in effect for the applicable central processing date. The conversion
rate may be different from the rate in effect on the date of your transaction and the
date it is posted to your Account.

Regardless of whether the transaction is made in foreign currency or in US dollars,
additional fees may apply to all international transactions using the Card. Please
refer to our current fee schedule for more information about our fees.

2.8 Card Authorization Holds

When you use your Card to purchase goods or services or to obtain cash from a
merchant, the merchant may request preauthorization (“Card Authorization”) for
the transaction. If the merchant makes such a request and there are sufficient
available funds in your Account, we will approve the transaction and place a
temporary hold on the funds in your Account. This hold will reduce the Available
Balance in your Account. The amount of this temporary hold will usually be the
amount of the Card Authorization. The hold will remain on your Account until the
merchant sends the final amount of the transaction to us and requests payment
(“Settlement”). In most cases, if the merchant does not request Settlement or is
delayed in requesting settlement, the hold will automatically be removed after three
(3) days. However, for transactions with certain merchants, such as hotels, the hold
may remain on your account up to seven (7) days.

Please note that the merchant controls the timing of both the Card Authorization
and Settlement. This means that a merchant may initiate Settlement after Card
Authorization hold has already been removed. If the hold is removed and you spend
the funds in your Account before Settlement, it may cause your Account to
overdraw. In addition, the Card Authorization amount that the merchant requests
may be different than the Settlement amount. It is therefore very important that
you keep track of your transactions and your Account. We cannot stop a Card
transaction once we have approved a Card Authorization and you will be
responsible for repaying any negative balance that may occur in your Account.

3. Card Limitations

There may be limits on the amount and frequency of withdrawals and deposits you
can make using your Card.  Please refer to the Account Agreement for any limits
that may apply to your Account.

4. Returns and Refunds

Please be aware of the merchant’s return policies before using your Card to make a
purchase. Neither the Bank nor the Program Partner is responsible for the delivery,
quality, safety, legality or any other aspect of the goods or services you purchase
using your Card. If you have a problem with a purchase that you made with your
Card or if you have a dispute with the merchant, you must handle it directly with
the merchant. If you are entitled to a refund for any reason for goods or services
obtained using your Card, you agree to accept credits to your Card for the refund
and agree to the refund policy of the merchant. The amounts credited to your Card
for refunds may not be available for up to five (5) days from the date the refund
transaction occurs.

5. Additional Benefits from Visa and Fraud Alerts

Your Card may also be eligible for certain benefits provided by Visa. Please see the
Visa Debit Card Benefits Guide (
) for a full description of all additional benefits to which you may be
eligible, specifically Visa Zero Liability Benefits
). You are also eligible for Visa’s Fraud Alerts Program.

5.1 Fraud Alerts Program Overview

Messaging frequency depends on account activity.  For more information, text HELP
to 23618.  To cancel fraud text messaging services at any time reply STOP to any
alert from your mobile device.

For Fraud alerts support, call [CLIENT Specific VISA TFN – Unit to provide].  By
giving us your mobile number, you agree that Fraud Alerts text messaging is
authorized to notify you of suspected incidents of financial or identity fraud.  HELP
instructions: Text HELP to 23618 for help.

5.1.1 Stop Instructions

  • Text STOP to 23618 to cancel

5.1.2 Release of Liability

  • Alerts sent via SMS may not be delivered to you if your phone is not in the range of
    a transmission site, or if sufficient network capacity is not available at a particular
    time.  Even within coverage, factors beyond the control of wireless carriers may
    interfere with messages delivery for which the carrier is not responsible.  Carriers
    do not guarantee that alerts will be delivered.

5.2 Visa Secure Online Shopping

You can further protect your online Card purchases with Visa Secure (formerly
Verified by Visa). This free, simple-to-use service provided by Visa validates your
identity when you make an online purchase at participating merchants.
Participating online merchants will automatically trigger the Visa Secure identity
verification process when you check out. There is no need to download anything or
install any software, and there is no service charge for this benefit. Your Card will
continue to work as usual for online purchases at merchants not yet participating in
Visa Secure. You can contact Visa at [Visa Secure phone number – Unit to provide]
for assistance with any issues you have with Visa Secure purchases

6. Fees

There may be fees associated with your use of the Card.  Please refer to the
Account Agreement for any fees that may apply to your use of the Card.

7. Errors and Lost or Stolen Cards

7.1 Error Resolution

You may contact us by calling [CLIENT Specific VISA TFN – Unit to provide] with
questions concerning transactions involving your Card.

You may also contact us using those methods to report errors or unauthorized
transactions.  Be sure to contact us immediately if you believe that an error or
unauthorized transaction has occurred or may occur concerning your Card. You
must contact us no later than thirty (30) days after we sent the FIRST statement on
which the error or unauthorized transaction appeared. You must provide us with the
following information:

  • Tell us your name and Account number.
  • Describe the error or the transaction you are unsure about and explain as
    clearly as you can why you believe it is an error or why you need more
  • 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 by email within ten (10) business days.

After receiving your notice of error or unauthorized transaction, we will investigate
and provide you with the results and any corrections we make to your Account
within a commercially reasonable time.

7.2 Reporting Lost or Stolen Cards or Replacing Your Card

If you need to report your Card or PIN as lost, stolen, or compromised, or to replace
your Card for any reason, please contact us at [CLIENT Specific VISA TFN – Unit to
provide] seven days a week, 24 hours a day. You will be required to provide
personal information so that we may verify your identity before we will issue you a
replacement Card.

8. Electronic Fund Transfers

Your Card allows you to withdraw funds from your Account up to the Available
Balance through Electronic Fund Transfers (“EFTs”). EFTs are transactions that are

processed by electronic means and include, among others, ATM withdrawals and
point-of-sale purchases at merchants.

Your Account Agreement provides you with the information and terms about the
EFTs that are permitted on your Account.

8.1 Types of EFTs Supported by Your Card

Your Card allows the following types of EFTs:

  • Transfers to or from your Account to a merchant or other third party by
    providing the third party with your Card or Card information
  • ATM withdrawals using your Card

8.2 Limitations on EFTs

There are limitations on the frequency and amount of transactions you can make to
or from your Account using your Card. These limits are different for each type of
transaction. For limits that apply to Card transactions, please refer to Section 3 of
this Agreement.  For other limitations that may apply to your Account, please refer
to your Account Agreement. Your Card may also be subject to security-related
limits.  These limits may change from time to time.

8.3 Documentation of Your Transactions

You will be provided with information about each transaction using your Card on
your Account statements. Please refer to your Account Agreement for more
information about statements and other ways to view your transaction history and
other information. You will also have the option to receive a receipt when making a
withdrawal at an ATM or when you make a POS purchase at a merchant.

8.4 Recurring Card Payments (Preauthorized Transfers)

If you authorize a merchant or other third party to automatically initiate a payment
using your Card on a recurring basis, you must do so in writing. If you are issued a
new Card with a different expiration date or a different number, we may (but are
not obligated to) provide your new Card number and expiration date to a merchant
or other third party with whom you have set up a recurring pre-authorized card
payment in order to facilitate the continuation of your authorized recurring

If you do not wish Visa to provide your new Card number and/or expiration date to
merchants or other third parties, please let us know by emailing us at

8.4.1 How to Request a Stop Payment

  • If you authorize a merchant or other third party to take payments from your
    Account using your Card through recurring card payments, you can place a stop
    payment on one or all of those payments by contacting us by email at at least three (3) business days before the next payment is
    scheduled to be made.
  • You must provide us with (1) your name, (2) your Account number, (3) the company
    or person taking the payments, and (4) the date and amount of the scheduled
    payment you wish to stop. If you want all future payments from that company or
    person stopped, be sure to tell us that as well. If you do not provide us with the
    correct information, such as the correct payee or the correct amount of the
    payment you wish to stop, we may not be able to stop the payment.
  • You may be charged a fee for each stop payment you request under your Account
    Agreement.  Please refer to your Account Agreement for fees applicable to your

8.4.2 Notices of Varying Amounts

  • If these recurring Card payments vary in amount, the merchant or other third party
    you are paying will tell you ten (10) days before each payment when it will be made
    and how much it will be. You may be given the option to only get this notice when
    the payment will differ by more than a certain amount from the previous payment,
    or when the amount will fall outside certain limits that you set.

8.4.3 Our Business Days

  • Our business days are Monday through Friday, excluding federal holidays.

8.5 Your Liability for Unauthorized EFTs

Contact us immediately if you believe that an unauthorized EFT has occurred or
may occur concerning your Account, or if your Card has been lost, stolen or
compromised. Calling us at [CLIENT Specific VISA TFN – Unit to provide] is the best
way of keeping your losses to a minimum. Your liability for unauthorized EFTs is
outlined in your Account Agreement.  Please refer to your Account Agreement for

8.6 Our Liability for a Failure To Complete A Transaction,
Unauthorized Transactions or Failure to Stop a Payment

We will respond to notices of errors or unauthorized EFTs and requests to stop
payments in a commercially reasonable manner and time. Our liability for a failure
to complete a transaction, an unauthorized transaction, or failure to stop a payment
is limited to terms described in your Account Agreement.  Please refer to your
Account Agreement for details.

9. Change of Terms

We can change the term of this Agreement at any time. We will provide advance
notice to you of a change in terms where required by law.

10. Account Information Disclosed to Third Parties

We will disclose information to third parties about your account or the transfers you

  • Where it is necessary for completing the transaction
  • To verify the existence and condition of your account with us (such as to
    confirm that sufficient funds are available to cover specific transactions)
    upon the request from a third party (such as a credit bureau or merchant)
  • To comply with government agency or court orders
  • If you give us your written permission

You can more fully understand how we use your information by referring to the
Bank’s Privacy Policy at and the Third
Party Program Service Provider’s Policy at