Square Card - Overdraft Protection (Beta) Terms and Conditions

1. Terms Acceptance

These Overdraft protection (Beta) Terms and Conditions (these “Terms”) govern your use of the Overdraft Protection (Beta) feature of your Square Card (this “Feature”). This Feature is currently only available by invitation to a limited early-access group of Square Card cardholders (the “Beta Program”). By using this Feature, you agree to be bound by these Terms. If you do not agree to be bound by these Terms, you cannot use this Feature. You may opt out of this Feature or submit any questions or feedback by emailing betafeedback@squareup.com.

2. Incorporation of Other Agreements

By using this Feature, you acknowledge and agree that additional agreements may be in place that govern your relationship with Square and the use of your Square Card, including the Square Card Terms, the Square Seller Prepaid Card Program Cardholder Agreement, Square General Terms of Service, Square Payment Terms, E-Sign Consent, and all other terms, policies and guidelines applicable to your use of this Feature and the Square Card. The terms and conditions of any additional agreements shall continue to apply in full force.

In addition, because this Feature is being provided as a beta feature, you also agree to the terms of the Square Beta Non-Disclosure Agreement, and such terms are hereby incorporated by reference.

3. Feature Description

This Feature is a limited-access, no-fee, beta feature, available to select Square Card cardholders. If you have been selected to participate in the Beta Program, this Feature enables you to draw your Square balance negative for Square Card debit card purchase transactions (“Qualifying Transactions”) up to a specified limit (“Limit”). The Limit for this Feature is determined in our sole discretion, and shall be disclosed to you via email. We may modify your Limit in our sole discretion at any time upon prior written notice to you.

This Feature is only available on Qualifying Transactions. It is not available for any other types of transactions, including ATM withdrawals from your Square Card.

4. Feature Eligibility

Only those Square Card cardholders invited to evaluate this Feature shall have access to this Feature for the duration of the Beta Program. To remain eligible for this Feature, you must maintain a Square account in good standing with an active Square Card. We reserve the right to revoke or modify your access to this Feature in our sole discretion at any time upon notice to you.

5. Overdraft Repayment

For the duration of the Beta Program, there will be no fee to use this Feature. This feature will allow your Square balance to go negative up to the Limit. When you process payments on your Square account or add funds directly to your Square balance, whichever is sooner, any negative balance resulting from your use of this Feature will be automatically repaid before bringing your balance positive. By agreeing to this Feature, you authorize us to apply any payment processing funds or funds added to your Square balance to cure any negative balance in your Square balance.

Note that we do not charge interest for any outstanding negative balance in your Square balance, and you will only be required to repay the exact amount of the negative balance in your Square balance.

6. Opt Out of Overdraft Protection.

If you would like to opt out of this Feature, please email betafeedback@squareup.com.

7. Termination by Square

We may terminate these Terms or suspend or terminate your access to this Feature for any reason at any time upon notice to you. You agree that Square will not be liable to your or any third party for costs, fees, or losses related to the termination of your access to this feature, including insufficient fund fees, late fees, legal fees or other charges.