Debit Card Payment Terms

INTRODUCTION

These Terms and Conditions (“Debit Card Payment Terms”) apply to your use of your debit card for any payments you may make to BlockFi for funding your BlockFi Wallet including for the purchase, using U.S. dollars, of Gemini Dollar (GUSD), a stablecoin pegged to and backed by U.S. dollars held in reserve at State Street Bank and Trust Company, which will be settled and delivered (which may be done by book-entry) to your BlockFi Wallet. Please read and keep these Debit Card Payment Terms. If you need a physical copy of these Debit Card Payment Terms or if you have any questions, you can submit a support ticket here or visit blockfi.com. These Debit Card Payment Terms incorporate by reference the latest BlockFi Terms of Service and Wallet Terms which are found here: https://blockfi.com/terms/

If you choose to use a debit card as your payment method to fund your BlockFi Wallet, you accept and agree to these Debit Card Payment Terms on the date of each payment.

1. Debit Card Purchases

You may purchase GUSD using your Visa or Mastercard debit card. The GUSD you purchase will be delivered (which may be done by book-entry) to your BlockFi Wallet. You agree that any purchase of GUSD with your debit card is made pursuant to and in accordance with BlockFi’s Trading Terms [https://blockfi.com/trading-terms], which are incorporated by reference. Your debit card payment must be made in U.S. dollars. BlockFi, in its sole discretion, may refuse this debit card payment option to any user without notice for any reason at any time. All debit card payments are processed by Stripe or its affiliates on behalf of BlockFi. Withdrawals to cards are not currently supported.

2. Electronic Signature and Debit Authorization

By choosing your debit card as your payment method, you agree that: (a) you have read, understand and agree to these Debit Card Payment Terms, and that this agreement constitutes a “writing signed by you” under any applicable law or regulation, (b) you consent to the electronic delivery of the disclosures contained in these Debit Card Payment Terms, (c) you authorize BlockFi (or its agent) to make any inquiries we consider necessary to validate any dispute involving your payment, which may include ordering a credit report and performing other credit checks or verifying the information you provide against third party databases, (d) once a purchase transaction is complete, the transaction cannot be cancelled (e) BlockFi is not responsible for any delays in the availability of GUSD purchased with your debit card.

3. Transaction Errors

If you believe that any payment made using your debit card was erroneous, or if you need more information about any such transaction, you should contact your debit card provider and submit a support ticket here as soon as possible. Notify us and your debit card provider at once if you believe your debit card or the password associated with your account has been lost or stolen, or if someone has attempted (or may attempt) to use your debit card without your permission. We reserve the right to cancel the ability to pay with a debit card for any reason at any time.

4. Unauthorized Transactions

You should contact your card issuer for information about the policies and procedures that apply to any fraudulent, erroneous or unauthorized transactions involving your debit card.

5. Problems Paying with your Debit Card

If you have trouble paying with a debit card, check the following:

Your card details are correct. Make sure that all details, such as the card number, expiration date, and CVV code are entered correctly, and check that the name and billing address are exactly as they appear on your debit card statement.
Your debit card is not expired and has been activated. Your card will be declined if it is out of date. If you’re using a new card for the first time, make sure it has been activated. If you’re not sure how to activate your card, contact your debit card issuer.
You have sufficient funds. If you don’t have enough credit or funds to cover the cost of your purchase, your payment may be declined. Your payments may also be declined if you’ve reached your daily transaction limit.
You need to update your browser. If you are using an older web browser that isn’t secure enough for making payments or managing your payment methods, you will need to update your browser before you can complete your purchase. You can also try completing your purchase on another device.

If these troubleshooting steps don’t resolve your issue, try a different payment method or contact your card provider for further assistance.

6. Returned Transactions

You understand and agree that if any previously-initiated debit card payment hereunder is returned for any reason (including because of insufficient funds or because you have disputed a transaction), BlockFi will be entitled to exercise remedies in accordance with the Trading Terms referred to herein, including freezing your BlockFi Wallet and other accounts and all assets held in such accounts until the dispute is resolved and reversing any stablecoin purchases made and delivered to such account.

7. Electronic Delivery of Future Disclosures

You agree to accept all disclosures and other communications between you and us on this website or at the primary e-mail address associated with your BlockFi Account. You should print and retain a copy of all such disclosures and communications.

8. Our Liability

We will not be liable if your card issuer fails or declines to process your debit card payment. In addition, we will not be liable where: (1) you have insufficient funds to cover a payment made with your debit card; (2) your card issuer refuses to honor or otherwise restricts payments made with your card; (3) you decline to authorize the payment of an applicable fee; (4) any terminal or system was not working properly and you were advised of that before you initiated a payment; (5) the failure was related to circumstances beyond our control (such as flood, fire, power outages, mechanical or system failures); (6) your instructions are lost or delayed in transmission to us; (7) a reasonable security concern, such as unauthorized use, causes us not to honor your instructions; (8) this debit card payment option has been discontinued or suspended; (9) we advise you that your payment request will not be processed; and (10) other exceptions are allowed by law. If our error was unintentional and resulted from a bona fide error, our liability is limited to actual damages.

9. Agreement Changes

We may in our discretion change these Debit Card Payment Terms or the BlockFi Terms and Trading Terms referred to in these Debit Card Payment Terms at any time without notice to you. If any change is found to be invalid, void, or for any reason unenforceable, that change is severable and does not affect the validity and enforceability of any other changes or the remainder of these Debit Payment Terms. We reserve the right to subcontract any of our rights or obligations under these Debit Card Payment Terms.

YOUR CONTINUED USE OF YOUR DEBIT CARD AS A METHOD OF MAKING ANY PAYMENT TO BLOCKFI AFTER WE CHANGE THESE DEBIT CARD PAYMENT TERMS OR ANY OF THE OTHER TERMS INCORPORATED IN THESE DEBIT CARD PAYMENT TERMS CONSTITUTES YOUR ACCEPTANCE OF THESE CHANGES.

Last Updated on October 31, 2022