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• Terms and Conditions for "Modak grants you the dream" Strategy

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created

Mar 22, 2024

LAST UPDATED

Mar 22, 2024

Effective Date: 21/03/2024

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1. Introduction

These terms and conditions govern the "Modak grants you the dream" Strategy. By using our services, you agree to comply with and be bound by these terms. If you do not agree with any part of these terms, please do not use our services.

This strategy will be divided into 3 phases:

  1. Complete a form (from March 22nd to April 3rd, 2024).
  2. On April 3rd, 2024, we will announce the 3 wishes that advance to the final. These 3 individuals will be notified via email.
  3. On April 10th, 2024, we will announce the winner. The winner will be the person with the most referrals. This person will be notified via email.

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2. Eligibility:

  1. All Modak users will be able to participate.
  2. To be considered in the "final," the friend/partner/family member of the user must have created a bank account with the code MODAKDREAMS.
  3. The Modak team will decide which are the 3 individuals and their wishes that advance to the final (this will be based on the type of gift or the person they want to give it to or the reason they want to give it).
  4. Among the 3 individuals who advance to the final, there will be a single winner. The winner will be the one with the highest number of referrals between April 3rd and April 10th.

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3. Limits/exceptions:‍

If in the final stage (where only 3 people participate) there is a tie in the number of referrals, we will extend the referral period by 2 more days to allow for additional referrals.

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4. Promotion Period:
This campaign will be active between 21/03/2024 and  10/04/2024.

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5. Prize: 

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  • The prize is non-transferable.
  • Only one person will win the prize.
  • The prize can be a product or a service.
  • Modak will consider gift wishes of up to $100.
  • Modak can decide whether to send the product/service or to deposit the money into the MoCard of the person who registered with the code MODAKDREAMS.
  • The prize will be sent to whom the gift is intended. For example, if Michael is a user and wants to give a gift to his friend John, John will receive the value of the gift in his MoCard.
  • If at the time of sending the gift, the new user (who joined using the code MODAKDREAMS) closed their account, the prize will be forfeited and awarded to the runner-up.
  • The prize will be sent within 3 business days after notifying the winner.

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‍6. Liability and Disputes‍

  • Modak is not responsible for entries not received for whatever reason.
  • Any disputes relating to this Promotion will be subject to the exclusive jurisdiction of the courts of the state in which Modak operates.

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7. Privacy and Security

We prioritize the privacy and security of your information. For details, please refer to our Privacy Policy.

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8. General Terms and Conditions:

  1. Modak reserves the right to disqualify any participant who violates the terms and conditions or engages in fraudulent activity.
  2. Modak is not responsible for any technical issues, including but not limited to, internet outages, that may affect participation in the campaign.
  3. The campaign is subject to all applicable laws and regulations.
  4. By participating in this campaign, participants agree to abide by these terms and conditions. Modak reserves the right to amend or cancel the campaign at its discretion. Participants are encouraged to review Modak's privacy policy and terms of service.
  5. The prize is redeemable within a period of up to 3 weeks from the date of the winning notification. Failure to redeem the prize within this timeframe will result in forfeiture of the award.

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9. Contact Information

For any inquiries regarding the Promotion, please contact Modak at hi@modakmakers.com

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Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., FDIC-Insured.

Modak is a financial technology company and not a FDIC insured financial institution.

Funds deposited into a Deposit Account may be eligible for up to $250,000 of FDIC insurance.

The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured depository institution.


(*) Fees for expedited or premium services may apply. See  for applicable fees.  Find out more in our Cardholder Agreement
(1) Deposit account and the Modak Visa® debit card issued by Legend Bank, N.A., FDIC-Insured.
(2) For more information about MBX, visit our MBX Policy.
(3) The savings goals feature is intended to assist you in planning and tracking your savings progress. It does not imply or guarantee any interest earning.
(4) For more information about this study, click here.
(5) Modak Scratch 'Em All feature Terms and Conditions apply.
(6) $6 Welcome bonus. Terms and conditions apply.
(7) The MBX Rewards Program allows all customers, whether they have a Card or not, to earn MBX through eligible activities such as completing challenges, using the walking feature, or making purchases. However, only customers with a Card can redeem MBX for monetary rewards. A minimum balance of 100 MBX (approximately $1.00 USD as of January 2025) is required for redemption, though the value is subject to change and not guaranteed; for details, visit MBX Policy. No minimum balance is required to open an account, and redemption of MBX into USD is processed instantly upon meeting the MBX minimum balance requirement. This program does not accrue interest and (0.00% Annual Percentage Yield (APY)) applies.
(**) Welcome Bonus and Referral program terms and conditions apply.
(8) Roblox Reward applies only after ordering the physical debit card and using the code ¨Roblox¨ during the sign up process. Learn more in the Terms and Conditions.
(9) The savings pocket is designed to help you manage your savings goals. A Modak boost is applied only to eligible funds. Terms and conditions apply.
(10) This review was sourced from the App Store, where customers voluntarily shared their experiences. Individual results may vary. This testimonial reflects the opinion of one customer and is not a guarantee of future performance. App Store ratings as of April 15th, 2025.

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