Terms and Conditions

"Bank" means The PrivateBank and Trust Company, which may also be referred to as the "Issuer" or "Us", as issuer and owner of the Card.

"Card" means the Card provided to you.

"Card Program" means the Card related services marketed or made available to you, subject to the terms and conditions of this Cardholder Agreement.

"Transaction" means a request by a User to make purchases for goods or services at a retail merchant location, which is either authorized or denied by the Bank.

"You" and "your" means the Card User or Recipient who requested the issuance of this Card and is the person to whom the Card was issued.

Nature of the Card:
This Card represents a general liability of the Bank. The money paid is not a deposit and does not establish a separate individual account with the Bank. This Card is not a bank insured product and carries no deposit insurance. You cannot link the Card to any deposit or credit account you may have at the Bank or any other financial institutions. When the Card's monetary value has been used up or the Card has expired, you must destroy the Card by cutting it in half through both the magnetic strip and the Card number embossed on the face of the Card. The Bank reserves the right to revoke any Card on which the User has attempted to charge more than the prepaid amount or remaining unused monetary value accessible by the Card or for any other reason.

You agree to pay all of the fees charged by the Bank for the Card, transaction fees or Card Program services applicable to any use of your Card. You also agree to pay any fees imposed by others for purchases such as transaction fees, handling fees, etc. You also agree to pay fees associated with reissuing Cards on your behalf.
  • Card Reissuance Fee - $10.00 - Upon notification and within three months of Card expiration, a replacement Card may be reissued for the unused balance less a fee.
  • Monthly Service Fee - $2.50 - As allowed by applicable state law, this is a monthly service fee on your Card. As a courtesy, this fee will be waived up to the expiration date printed on the face of your Card.
  • Excess Usage Fee - $25.00 - This fee will be charged if you exceed the value available for use on the Card. Please keep track of your balance at all times to avoid this fee.
  • Account Closure Fee - $20.00 - Upon request or if Card accounts are misused.
CASH ACCESS FEES, if your program is enabled with Cash Access
ATM Operator Fee (assessed by individual ATM operator)Varies by ATM Operator
ATM Inquiry / Decline Fee $.75
Domestic / Foreign ATM Fee $2.95/transaction (max $1,000/day)
International ATM Fee $4.95/transaction (max $1,000/day)
Face-to-Face Bank Cash Advance Fee $8.00/transaction (max $1,000/day)

In connection with any assignment or other transfer of a Card to an authorized User or any other person, this Agreement shall automatically be transferred to, and shall be binding upon such new holder or User of such Card, and such persons, his/her agents, legal representatives, heirs and estate.

Although your Card is serviced by Swift Prepaid Solutions, Inc., it is issued by The PrivateBank and Trust Company pursuant to a license from Visa/MasterCard. User agrees to surrender the Card upon request and agrees not to alter, deface or otherwise modify this Card or any media therein contained.

Limited Liability:
The Card is issued by The PrivateBank and Trust Company and is serviced through Swift Prepaid Solutions, Inc. Except as required by applicable law, Swift Prepaid Solutions, Inc., the Bank and their affiliates shall have no liability, of any kind whatsoever, to you for performing or failing to perform services in connections with this Agreement, unless taken with malice or in bad faith. Without limiting the above, the Bank, Swift Prepaid Solutions, Inc. and their affiliates shall not be liable for the delays or mistakes which happen because of any reason beyond their control, including but not limited to acts of civil, military, or banking authorities, national emergencies, insurrection, war riots, terrorists, failure of transportation, communication or power supply or malfunction of or unavoidable difficulties with equipment.

No FDIC Insurance:
This Card is a general obligation of the Bank and does not create a deposit account. This Card is not issued by or insured by The Federal Deposit Insurance Corporation, or any other state or government agency; is not a deposit at the Bank or any of their affiliates; and is subject to normal risks including loss of all value.

Governing Law and Jurisdiction:
This Agreement and all arbitration proceedings will be governed by the laws of the United States and the laws of the State of Illinois, without regard to conflict of law doctrine principles or the location of residence of any User, or place where the Card is issued.

Changes to this Agreement:
This Agreement constitutes the entire Agreement between the Bank and any User regarding the use of the Card. The Bank may delay or waive any of its rights at any time without waiving any of its rights at any future time. Except as otherwise required by applicable law, the Bank may change this Agreement and its related services at any time. Amendments to this Agreement will be effective immediately as posted on the web page at www.swiftprepaid.com.

If any term of this Agreement is invalid, changed by applicable law or declared invalid by order of a court, the remaining terms of this Agreement will not be affected, and this Agreement will be interpreted as if the invalid terms had not been placed in this Agreement.

Privacy Statement:
Your specifically identifiable account information will not be used or sold for any reason other than for the purchase or servicing of the Card account, compliance with government, banking or court orders, or to minimize the risk and protect the interest of the Bank.

International Transactions:
Effective April 2, 2005, the method used to convert foreign currency transactions will change. Transactions conducted in a foreign currency will be converted using a rate selected by Visa/MasterCard. The selected rate may vary from the rate Visa/MasterCard itself receives or the government-mandated rate currently in effect. The conversion may occur on a date different than the transaction date. In each instance, you agree to pay to Swift Prepaid Solutions, Inc. the Visa/MasterCard converted amount which includes the rate of exchange between the foreign currency and US currency in effect one day prior to the processing date, plus a 2.0% Service Assessment. This fee is independent of the currency conversion rate established by Visa/MasterCard.