• Mobucks (MBX) Policy

created on

Jul 1, 2022


Nov 1, 2023

1. Introduction: Mobucks (MBX) - Our In-App Currency

At Modak, we use Mobucks (MBX) as our in-app currency to enhance user overall experience. This policy outlines the terms and conditions governing the use of MBX within our platform.

2. Policy Statement

a. Use of Mobucks: Mobucks, often referred to as MBX, are in-app reward points that can be earned by users when they engage in various activities on our platform. MBX can be used for various in-app transactions and redemptions as specified in this policy.

b. Redemption Value: Users will have the opportunity to redeem 100 MBX for $1 once our card launches.
*Please note that Modak reserves the right to change the exchange rate at any time, at our discretion and without liability to users.

3. Scope

This policy applies to all users of the Modak platform who earn, redeem, or engage with Mobucks.

4. Definitions

  • Mobucks (MBX): In-app reward points used within the Modak platform.
  • Daily Mobucks: A feature where users can receive Mobucks daily.
  • Challenges: Weekly challenges within the platform.
  • Wallet: The section of the app where users can view their Mobucks balance.
  • Profile: A user's profile within the app.
  • Support Team: Modak's dedicated support department.

5. Responsibilities

  • Users: Responsible for engaging with the platform to earn Mobucks.
  • Support Team: Responsible for addressing user inquiries and concerns related to Mobucks via email at hi@modakmaker.com and chat in our app. 

6. How to Earn Mobucks

a. Daily Mobucks: Users can visit our 'Daily Mobucks' section and scratch a virtual card each day to receive a random amount of Mobucks.

b. Challenges: Completing weekly challenges within our 'Achievements' section will earn users a specific number of Mobucks for each completed task.

7. Checking Your Mobucks Balance

Users can conveniently check their Mobucks balance in two different sections within our app:

  • Wallet: The 'Wallet' section displays the user's total balance and the number of Mobucks received or sent each day.
  • Profile: Users can access their total Mobucks balance from their 'Profile' within the app.

8. Compliance and Enforcement

Compliance with this policy will be monitored by our Support Team. Non-compliance may result in the suspension or forfeiture of Mobucks. All decisions made by Modak regarding compliance are final.

9. Review and Revision

This policy will be reviewed periodically to ensure it remains up-to-date and aligned with Modak's practices. Users will be notified of any revisions.

10. Contact Information

If you have any questions or concerns regarding Mobucks, please contact our Support Team at hi@modakmakers.com

Modak is a financial technology company and not a bank.‍

Checking accounts and the Modak Visa Debit Cards are provided and issued by Lewis & Clark Bank, Member FDIC.

Funds deposited into Checking will be eligible for up to $250,000 of FDIC insurance.

Accounts and Debit Cards are issued by Lewis & Clark Bank. Credit Cards are issued by Central Bank of Weir. CBW Credit Card Disclosure can be found in-app.

© 2023 Modak Communities Operating Holdings Inc. All rights reserved.