• Terms & Conditions for the Modak $10 First Funding Incentive

created on

Aug 31, 2023


Nov 10, 2023

1. Eligibility‍

To qualify for the reward, a fund transfer must be the first funding of at least $10 into the first registered Teen's account. The campaign is valid for seven days from the creation of a parent account in Modak. The exact deadline date appears on each user's banner within the Parent Portal.

2. Reward allocation‍

Upon qualification, a reward of 1000 MBX will be credited to the Teen's account from which the funds were initially credited. To claim the reward, the Teen must log in to their account and redeem the 1000 MBX using the application. Once redeemed, the equivalent of $10 in Modak's currency will be immediately credited to their account.

3. Reward timing

The 1000 MBX reward will be credited 1 business day after the funds have settled in the Teen's account.

4. Limitations‍

The incentive is applicable only once per Teen. Transferring funds multiple times into a single Teen's account will not result in multiple rewards.

5. Multiple accounts‍

In cases where a Parent has more than one Teen with a Modak account, the 1000 MBX reward is applicable only to the first teen registered when creating a Modak account, not to any additional teens. The first teen registered is the one who appears first in the list of teens on the Parent Portal home screen.

6. General provisions‍

- Modak is not responsible for any technological failures or delays that may prevent Parents from sending or receiving funds.
- Participation in this campaign constitutes acceptance of these Terms & Conditions.
- Any fraudulent activity or misuse of the Modak platform or this campaign can result in disqualification from the incentive, at Modak’s sole discretion.
- All decisions made by Modak regarding this campaign are final and binding.

7. Indemnity‍

By participating in this campaign, the Parent agrees to defend, indemnify and hold harmless Modak, its affiliates, directors, officers, employees, and agents from and against any and all claims, damages, losses, liabilities, costs or expenses (including but not limited to legal fees) arising from participation in the campaign, breach of these Terms & Conditions, or receipt or use of any reward.

8. Governing law‍

These Terms & Conditions are governed by and shall be construed in accordance with the laws of the United States. Any disputes arising out of or in connection with these Terms & Conditions, or this campaign, shall be subject to the exclusive jurisdiction of the State of Delaware courts.By transferring funds to a Teen's Modak account, you signify your agreement to these Terms & Conditions.

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, Member FDIC.

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