Cashback Rewards Terms

𝕏 card (“Card”) is issued by Cross River Bank, pursuant to a license by Visa U.S.A, and administered by X Payments LLC (“X Payments”). The Card may be used anywhere Visa is accepted. If your Stored Value Account has a positive balance at the time of purchase, and is in good standing, a percentage of all Eligible Transactions that have settled will be provided to you as cashback rewards, in cash (“Cashback Rewards”). These Cashback Rewards Terms are part of the X Money User Documents and are incorporated by reference into the X Money Stored Value Account Terms of Service.

Cashback Rewards that have accrued can be viewed in the Money Section of the X Platform at any time after a purchase is made and the transactions have settled. Cash Rewards will be credited to your Stored Value Account every seven (7) calendar days (“Weekly Cycle”).

Specific percentage provided as Cashback Rewards may differ based on purchase categories, and the total amount of Cashback Rewards may be capped. We reserve the right to determine in our sole discretion which percentage to apply to an Eligible Transaction. We may round down the amount of Cashback Rewards granted to the nearest cent.

We will not offer any Cashback Rewards for purchases involving certain Merchant Category Codes (“MCC”) specified below (“Excluded MCCs”). A merchant is assigned an MCC based on their typical products and services. X Payments does not assign MCCs to merchants. Refer to the Money section of X Platform for the specific percentage of Cashback Rewards that you are eligible to earn.

Eligible Transactions refer to all purchases made using the Card, except for (i) those involving Excluded MCCs included in Table 1; (ii) those X Payments or the Bank determines to be transactions involving fraud, illegal activities, self-dealing, Manufactured Spending (as defined below), or is subject to any claim of illegality, negligence, fraud, or dishonesty on your part or with any counterparty to a transaction; (iii) transactions that we reasonably believe, in our sole discretion, that have violated any provision of your X card Cardholder Agreement. In the event that Cashback Rewards were granted for transactions that are not Eligible Transactions, X Payments reserves the right to recover funds from you in the amount of Cashback Rewards that were paid to you for those transactions by debiting, charging or setting off from your Stored Value Account balance. “Manufactured Spending” means transactions or activity that we reasonably determine are intended to generate Cashback Rewards or other benefits through artificial or deceptive means, including without limitation: (a) self-dealing or transactions with related parties; (b) processing transactions without a bona fide sale of goods or services; or (c) activity we reasonably determine violates card network rules or our program rules. If Cashback Rewards are pending for transactions that are not Eligible Transactions, X Payments reserves the right to deny or withhold the issuance of Cashback Rewards.

In addition, you will not earn any cashback on refunded or returned transactions. If Cashback Rewards is earned on these transactions, any Cashback Rewards provided previously on the transactions involving the same purchase will be debited. Any Eligible Transactions pending settlement at the end of the Weekly Cycle or at the time of your redemption of Cash Rewards will be available for redemption after the transactions have settled. We reserve the right to request receipt and additional documentation as we may request your Card purchases to determine the eligibility of the transaction. When you close your account or we close your account, you forfeit the amount of Cashback Rewards you have earned but have not been credited.

Table 1: Excluded MCCs