MICC Mastercard® Cardholder Agreement

Please read this Agreement carefully and retain a copy for your records.

The following terms and conditions govern your use of the MICC Mastercardcard. By activating, and/ or using the MICC Mastercardcard, you are agreeing to these terms and conditions outlined below.

Personal Information: By applying for a Card, you consent to the collection, use, disclosure and retention of your personal information by MICC (pursuant to the Account Terms), Peoples Trust Company and their service providers as described below. The collection of that information is necessary for the entering into and performance of this Agreement.

Therefore, if you do not consent to the collection, use, disclosure and retention of your personal information as set out in this Cardholder Agreement and the Account Terms, you may not apply for or use a Card. If you choose to opt-out of the MICC Account Agreement, you opt out of the Cardholder Agreement and you are free to apply for another Peoples Trust Company issued product.

Information Disclosure Summary (detailed terms and conditions will follow):

Card Issuer: The MICC Prepaid Mastercard Card is issued by Peoples Trust Company pursuant to license by Mastercard International Incorporated.

Card Information and Balance: Your Balance, transaction stream, expiry date of the Card, and up-to-date Card terms and conditions are available for free through the App, and the Card terms and conditions are also available at www.micc.app. Should you have any questions you can contact customer service through live chat on the App or call our toll-free customer service number at 1-855-342-6924.

Card Restrictions: Cardholders must be Canadian residents of the age of majority in the province or territory where they reside and are restricted to one Card per person.

Use of your Card in certain countries may be restricted by law. You may not use your Card to commit or facilitate illegal activity. Your Card may be deactivated at any time if fraud, related to your Card or use of your Card, is suspected. You may not add funds to your Card via wire transfer. You do not have the right to stop payment of any transaction you conduct with the Card. Your Card is subject to daily load, transaction, and withdrawal limits as set out below. Peoples Trust Company may change these limits in accordance with Applicable Law and will post notice on www.micc.app at least thirty (30) days in advance of the date such change is to come into effect. The change will take effect on the date indicated in the notice. Your continued use of the Card, after the change to the limits has come into effect, will be taken as your acceptance of that change.

Card Expiry and Access to Balance: Your right to use the funds loaded onto your Card does not expire. Any funds that remain on the Card when you cancel the Card will be refunded to you.

Limits

  • Maximum Card Balance - $20,000
  • Maximum Number of loads per day - 4
  • Maximum Amount per single load transaction - $5,000
  • Maximum Amount per single bill pay load - $3,000
  • Maximum Weekly Cumulative Amount, Bill Pay load - $3,000
  • Maximum number of ATM transactions per day - 2
  • Maximum Amount per single ATM transaction - $800
  • Maximum Amount per single card to card transfer transaction - $2,500

No card or account management fees will be charged to you by Peoples Trust Company. Fees may be charged for use of ATMs by ATM operators, over which we have no control.

Protection Against Unauthorized Use: “Unauthorized use” means use by a person other than you who does not have actual, implied or apparent authority for such use, and from which you do not receive any benefit. Treat this Card as you would cash and contact us immediately if your Card is lost or stolen.

If someone uses your Card or your Card number to make a purchase or otherwise obtain the benefits of your Card, you will be fully liable for all charges incurred in connection with such use except in cases of fraudulent or unauthorized use. You are responsible for communicating to us, as soon as you are aware of any unauthorized transactions or use of your card have taken place.

You will not be responsible for charges to your Card as a result of the fraudulent and unauthorized use provided that you (i) are able to establish to our reasonable satisfaction that you have taken reasonable steps to protect your Card against loss or theft, (ii) cooperate fully with our own investigation, and (iii) did not contribute to the unauthorized use of your Card or Card number

Amending or Cancelling this Agreement: We may amend this Agreement at any time and as part of our internal process will periodically update our policies and client agreements. If we increase a fee or establish a new fee, we will let you know by sending a notice to (i) the most recent email address we have for you at least 30 days in advance and by (ii) posting online at micc.app at least 60 days in advance. If we make any other type of amendment, we will let you know at least 30 days in advance by posting this information online at <u>micc.app</u> or, at our discretion, by sending you an electronic notice to your most recent email address as per our records. If your Card or Card number is used after the Agreement is amended, it will mean you accept the amendments we have made.

We may cancel this Agreement at any time without telling you in advance if we reasonably believe that (i) your Card or Card number is being or is likely to be misused; or (ii) you are in breach of this Agreement or our company policies. In all other instances, we will let you know at least 30 days in advance by posting online at micc.app or, at our discretion, by sending you an electronic notice.

Interpreting and Enforcing this Agreement: This Agreement will be interpreted in accordance with the applicable laws of the Province of Prince Edward Island and the applicable laws of Canada. In the event of a dispute, you agree that the courts in Prince Edward Island shall be competent to hear such dispute and you agree to be bound by any judgment of that court.