1. Introduction
These terms and conditions govern your participation in our Waitlist Referral campaign designed to empower kids and promote financial literacy. By accessing and using our services, including participating in the waitlist referral program, you agree to abide by these terms and conditions. Please read them carefully. If you do not agree with any part of these terms, we kindly ask that you refrain from using our services.
Additionally, it's important to note that most of our campaigns are focused on promoting our products and services through various initiatives such as referral programs, contests, interviews, and educational activities aimed at enhancing kids' involvement with financial knowledge.
By participating, you agree to be fully unconditionally bound by these Rules, and you represent and warrant that you meet the eligibility requirements set forth herein. In addition, you agree to accept the decisions of Modak, as final and binding as it relates to the content. The Promotion is subject to all applicable federal, state and local laws.
2. Eligibility:
- Geolocalization: The Promotion is only open to legal residents of the United States and is void where prohibited by law. Employees of Modak (the “Sponsor”) their respective affiliates, subsidiaries, advertising and promotion agencies, suppliers and their immediate family members and/or those living in the same household of each are not eligible to participate in the Promotion. The Promotion is subject to all applicable federal, state and local laws and regulations. Void where prohibited.
- Have an account: Participants must possess a valid Modak account to be eligible of participation in the Waitlist Referral program
- Referrals’ unique links: To be eligible for a reward, users must invite a friend to join the Modak waitlist using their unique referral link. The referred friend must sign up through that link, successfully create and verify their account once the platform is open for new registrations, and request a physical Modak debit card. All of these steps must be completed for the referral to count toward the reward.
- Referral conversion: For the referral to be valid and considered for a reward, the referral must:
- Create a Modak account using the same email address submitted on the waitlist.
- Complete the identity verification process and have the account approved.
- Request a physical Modak debit card within 30 days of the platform opening for new account creation.
3. How to participate:
To enter the promotion, participants must complete all of the following steps:
- Refer friends with your code: Tap “Share Modak” on the top right corner of the “Banking” screen of the app, then tap “Copy link”, share this link with your friends to invite them to join the waitlist. Referrals will only count if your friends sign up using your unique link.
- Your referrals open a Modak account: Once onboarding opens, your referrals will have to create their Modak accounts using the email address they registered on the waitlist, complete the account setup, and order a Modak debit card.
To qualify for rewards, all steps above must be completed in full. Incomplete entries or those that do not comply with these rules may be disqualified at Modak’s sole discretion.
4. Limits/exceptions:
- The maximum number of successful referrals* eligible for rewards for current users that already have a Modak account is 8 for the lifetime of the account.
*(i) successfully completes the account registration and identity verification process; (ii) The referral requests a physical card (it is not mandatory to activate or use it). - Modak Makers reserves the right to terminate the Waitlist Referral Program or terminate or modify any aspect thereof at any time and without prior notice. Referral Rewards earned before any modification or termination of the Waitlist Referral Program will be honored by Modak Makers.
5. Promotion Period:
The waitlist referral program will be active and open for participation from 05/07/2025 until the waitlist closes and the Modak platform is launched for new account creation.
Please note that entries submitted outside of this promotion period will not be considered eligible for participation in the campaign.
6. Prize:
Participants who apply for the campaign will receive prizes as specified below:
Parents who complete a successful referral — meaning their referral signs up, is approved, requests a MoCard, and meets all eligibility criteria — will receive a $10 reward per successful referral. This amount will be credited to the parent’s Modak account within 7 business days after all referral requirements for eligibility are met.
Teens who complete a successful referral — meaning their referral signs up, is approved, requests a MoCard, and meets all eligibility criteria — will receive a 1,000 MBX reward, which is equivalent to $10 and can be converted to USD within the Modak app. This reward will also be delivered within 7 business days of meeting all requirements for eligibility.
Actual/appraised value may differ at the time of prize award. The specifics of the prize shall be solely determined by the Sponsor. No cash or other prize substitution permitted except at Sponsor's discretion. The prize is non-transferable. Any and all prize-related expenses, including without limitation any and all federal, state, and/or local taxes shall be the sole responsibility of the winner. No substitution of prize or transfer/assignment of prize to others or request for the cash equivalent by winners is permitted. Acceptance of the prize constitutes permission for Modak to use the winner's name, likeness, and entry for purposes of advertising and trade without further compensation, unless prohibited by law.
7. Rights Granted by you:
By entering this campaign you understand that Modak, anyone acting on behalf of Modak, or its respective licensees, successors and assigns will have the right, where permitted by law, without any further notice, review or consent to print, publish, broadcast, distribute, and use, worldwide in any media now known or hereafter in perpetuity and throughout the World, your entry, including, without limitation, the entry and winner's name, portrait, picture, voice, likeness, image or statements about the Promotion, and biographical information as news, publicity or information and for trade, advertising, public relations and promotional purposes without any further compensation.
8. Liability and Disputes
By entering, you agree to release and hold harmless Modak and its subsidiaries, affiliates, advertising and promotion agencies, partners, representatives, agents, successors, assigns, employees, officers and directors from any liability, illness, injury, death, loss, litigation, claim or damage that may occur, directly or indirectly, whether caused by negligence or not, from (i) such entrant's participation in the Promotion and/or his/her acceptance, possession, use, or misuse of any prize or any portion thereof, (ii) technical failures of any kind, including but not limited to the malfunctioning of any computer, cable, network, hardware or software; (iii) the unavailability or inaccessibility of any transmissions or telephone or Internet service; (iv) unauthorized human intervention in any part of the entry process or the Promotion; (v) electronic or human error which may occur in the administration of the Promotion or the processing of entries.
- Limitation of Liability: Modak shall not be liable for any direct, indirect, incidental, special, or consequential damages arising out of or in any way connected with your participation in the waitlist referral program, including but not limited to, prizes, rewards, or any use of or inability to use our services.
- Dispute Resolution: We strive to ensure that participating in the waitlist referral program is a positive experience for all involved. In the unlikely event that a dispute arises, we encourage open communication and cooperation to resolve.
THIS PROMOTION IS GOVERNED BY THE LAWS OF THE USA AND DELAWARE, WITHOUT RESPECT TO CONFLICT OF LAW DOCTRINES. As a condition of participating in this Promotion, participant agrees that any and all disputes which cannot be resolved between the parties, and causes of action arising out of or connected with this Promotion, shall be resolved individually, without resort to any form of class action, exclusively before a court located in Delaware having jurisdiction. Further, in any such dispute, under no circumstances will participant be permitted to obtain awards for, and hereby waives all rights to claim punitive, incidental, or consequential damages, including reasonable attorneys' fees, other than participant's actual out-of-pocket expenses (i.e. costs associated with entering this Promotion), and participant further waives all rights to have damages multiplied or increased.
- Informal Resolution: We believe in resolving disputes amicably and encourage you to first reach out to us directly to discuss any concerns or issues you may have. Our team is here to listen and work with you to find a satisfactory solution.
- Arbitration: If a resolution cannot be reached informally, any disputes, claims, or controversies arising from or related to the waitlist referral program shall be resolved through binding arbitration. The arbitration will be administered by a mutually agreed-upon arbitration provider. We believe arbitration offers a fair and efficient way to resolve disputes outside of the courtroom.
- Fair Process: The arbitration will be conducted in accordance with the rules and procedures of the chosen arbitration provider. We assure you that the process will be fair and transparent, and the decision of the arbitrator will be final and binding on all parties involved.
- Costs: Each party shall bear its own costs associated with the arbitration proceedings. We understand that legal proceedings can be daunting, and we strive to minimize any financial burden on all parties involved.
- Governing Law: These terms and conditions shall be governed by and construed in accordance with the laws of Delaware, US, without regard to its conflict of law principles.
- Jurisdiction: Any legal action or proceeding arising out of or relating to these terms and conditions or the waitlist referral program shall be brought exclusively in the courts of Delaware, US, and you hereby consent to the jurisdiction of such courts.
9. Privacy and Security
At Modak, we take the privacy and security of your information seriously. We are committed to protecting your data and ensuring that it is handled responsibly and securely.
- Collection of Information: We collect certain personal information from you when you participate in the waitlist referral program to facilitate your participation and administer the campaign effectively. This may include information such as your name, email address, and transaction details. Rest assured, we only collect information that is necessary for the campaign and in accordance with our Privacy Policy.
- Use of Information: The information collected from you may be used to communicate with you regarding the campaign, notify you of any updates or changes, and facilitate the distribution of prizes or rewards. We may also aggregate and analyze data for statistical purposes to improve our services and offerings.
- Security Measures: We have implemented robust security measures to safeguard your personal information from unauthorized access, disclosure, alteration, or destruction. These measures include encryption, firewalls, secure data storage, and regular security audits. We continually review and update our security practices to ensure they meet the highest standards.
- Third-Party Partners: In some cases, we may engage third-party service providers to assist us in administering the campaign or providing certain services. These service providers are bound by strict confidentiality agreements and are only authorized to use your information as necessary to perform their services on our behalf.
- Data Retention: We will retain your personal information for as long as necessary to fulfill the purposes outlined in this Privacy and Security section, unless a longer retention period is required or permitted by law.
By participating in the waitlist referral program, you acknowledge and agree to the terms of this Privacy and Security section and our Privacy Policy.
10. General Terms and Conditions:
By accessing and using our services, including participating in the waitlist referral program, you agree to abide by these general terms and conditions. Please read them carefully. If you do not agree with any part of these terms, we kindly ask that you refrain from using our services.
- Participant Conduct: Participants are expected to conduct themselves in a respectful and responsible manner while participating in the waitlist referral program. Any behavior that violates these terms and conditions or engages in fraudulent activity will result in disqualification from the campaign. Modak has the right, in its sole discretion, to maintain the integrity of the Promotion, to void entries for any reason, including, but not limited to; multiple entries from the same user from different IP addresses; multiple entries from the same computer in excess of that allowed by Promotion rules; or the use of bots, macros or scripts or other technical means for entering.
- Technical Issues: Modak is not responsible for any technical issues that may affect participation in waitlist referral programs, including but not limited to, internet outages, server downtime, or software malfunctions. We will make every effort to address and resolve technical issues promptly.
- Compliance with Laws: Participation in the waitlist referral program is subject to all applicable laws and regulations. Participants are responsible for ensuring compliance with any local, state, or federal laws that may apply.
- Amendment or Cancellation: Modak reserves the right to amend or cancel the waitlist referral program at its discretion, without prior notice. In the event of cancellation, Modak will make reasonable efforts to notify participants and provide any necessary refunds or compensation.
- Ineligibility: Any attempt by an entrant to deliberately damage any web site or undermine the legitimate operation of the Promotion may be a violation of criminal and civil laws and should such an attempt be made, Modak reserves the right to seek damages from any such person to the fullest extent permitted by law.
- Consent to Terms: By participating in the waitlist referral program, participants agree to abide by these general terms and conditions. Modak reserves the right to take appropriate action, including disqualification, against any participant who violates these terms.
- Communications: By entering the Promotion you agree to receive email newsletters periodically from Modak. You can opt-out of receiving this communication at any time by clicking the unsubscribe link in the newsletter.
- Review of Terms: Participants are encouraged to review Modak's privacy policy and terms of service, which govern the use of our services in addition to these general terms and conditions.
- Redemption of Prize: The prize awarded in the waitlist referral program is redeemable within a period of up to 7 days from the date of the winning notification. Failure to redeem the prize within this timeframe will result in forfeiture of the award.
These general terms and conditions are intended to ensure a fair and enjoyable experience for all participants in the waitlist referral program. Thank you for your cooperation and participation!
11. Contact Information
For any inquiries or assistance regarding the waitlist referral program or our services, please feel free to reach out to us through the following channels:
- Email: You can contact us via email at hi@modakmakers.com.
- In-App 24/7 Live Chat: We offer a convenient in-app live chat feature available 24/7 to assist you with any questions or concerns you may have. Simply access the live chat feature within the Modak app to connect with a member of our support team in real-time.
- Support Webpage: Visit our support webpage at Modak Support for comprehensive information, FAQs, and resources to help address common issues and inquiries. You can also submit a support ticket through the webpage for personalized assistance from our support team.
- CS Phone Line: You can reach us by calling 1-833-966-2428.
We are committed to providing prompt and helpful assistance to ensure your experience with the waitlist referral program and our services is positive and enjoyable.
12. Sponsor: The Sponsor of the Promotion is Modak Communities Operating Holdings Inc. 3000 SAND HILL RD, BUILDING 4 SUITE 230, MENLO PARK, CALIFORNIA 94025.
13. This promotion is in no way sponsored, endorsed or administered by, or associated with Facebook, Twitter, Instagram, Snapchat, Youtube, Pinterest, LinkedIn or Google. You understand that you are providing your information to the owner of this Promotion and not to Facebook, Twitter, Instagram, Snapchat, Youtube, Pinterest, LinkedIn or Google.
