Limited Use Stored Value Terms

I. Introduction

These Limited Use Stored Value Terms and Conditions (“Limited Terms”) supplement the eBay Payments Terms of Use (the “Payments Terms”) and set out the terms on which eBay Commerce Inc. (“we,” “us” or “eCI”) will provide you a limited use stored value account (“Limited Use Stored Value Account” or “Stored Value Account”, described below) to hold funds paid to you by us that are designated by you for disbursements to third parties, as set forth herein and pursuant to the terms of your agreements with eligible third parties that provide certain services to you (“Eligible Service Providers”). Subject to these Limited Terms, we will, on your behalf, and based on instructions received from such Eligible Service Providers, redeem funds credited to or otherwise held in your Stored Value Account to such Eligible Service Providers (“Redemptions”). Information about Eligible Service Providers is provided though the “eBay Seller Capital” page, available here: https://pages.ebay.com/ebaysellercapital/. By accepting these terms, you agree to comply with these Limited Terms and the Payments Terms. In the event of a conflict between these Limited Terms and the Payments Terms, these Limited Terms will control. All capitalized terms used in these Limited Terms which are not otherwise defined, shall have the same meanings assigned to them in the Payments Terms.

These Limited Terms contain provisions that govern how claims you and we have against each other are resolved (see “Complaints and Legal Disputes” section below). By agreeing to these terms, you are agreeing to submit claims that you have against us or our agents to binding and final arbitration pursuant to the Agreement to Arbitrate set forth in the Payments Terms (see Part II, Section 4 (“Legal Disputes”), Subsection B (“Agreement to Arbitrate”), unless you opt out. If you do not opt out: (1) you will only be permitted to pursue claims against us or our agents on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis.

II. Opening a Stored Value Account

This Stored Value Account is an electronic account issued to you by us to receive and hold certain funds paid to you under the Payments Terms and these Limited Terms. Unless otherwise specified, your Stored Value Account refers only to your Limited Use Stored Value Account under these Limited Terms and not to any other Stored Value Account issued to you by us. The Stored Value Account is not a bank account, and the balance of funds reflected in your Stored Value Account do not constitute deposits. You will not earn interest on funds held in your Stored Value Account, nor is the Stored Value Account eligible for FDIC pass-through insurance.

Although the Stored Value Account reflects funds paid to you, you agree and understand that your use of and access to these funds is subject to your separate agreement with any Eligible Service Provider. While we are not a party to any agreement between you and an Eligible Service Provider, the terms and conditions of any such agreement may impact which funds you elect to be paid to your Stored Value Account, and how you can use funds in your Stored Value Account, including the timing and amount of any Redemptions.

Eligibility

To open a Stored Value Account, you must be eligible, as determined by us. You may not open a Stored Value Account for personal, family, or household use. Only sole proprietors, partnerships, corporations, or limited liability corporations may open a Stored Value Account under these Limited Terms, and your business must be organized in, operating in, or a resident of the United States (including its territories).

By using the link provided in the eBay Seller Capital page or related materials, you agree to establish the Stored Value Account. To verify your identity, we may require you to provide certain identifying information to us such as your full name, the name of your business, your business address, phone number, date of birth, taxpayer identification number, state of incorporation, bank account information, and/or a government-issued photo ID (such as driver’s license). We may also require you to provide additional information about your business and any beneficial owners of the business other than you. Such information may include the same type of information set forth above. We may terminate your Stored Value Account if you do not provide required information to us, or if we cannot verify your identity or other information about you or your business using the information provided by you. At this time, you are not eligible to open a Stored Value Account if:

• Your eBay account is subject to suspension, restriction, or payout block.

• You are a sole proprietor selling on eBay and your registered address is in New Mexico.

• You are selling on eBay as a legal entity with a registered address in New Mexico.

By your acceptance of these Limited Terms, you represent and warrant that none of these preceding characteristics apply to you and/or your business. If your business reincorporates or you (if a sole proprietor) relocate to and become a resident of New Mexico after you open a Stored Value Account, we may require you to provide certain identifying information (such as your photo ID) to continue using your Stored Value Account.

Account Security

From time to time, we may require you to complete further account authentication or verification procedures to confirm the security of your device or access to your eBay account. We may temporarily restrict access to funds in your Stored Value Account if we cannot verify your eBay account, if you access your account from a new device, or if we suspect that your eBay account has been accessed without your authorization. For example, as a security precaution, we may temporarily suspend use of your Stored Value Account funds for Redemptions for up to forty-eight (48) hours following a change to your phone number.

III. Adding funds to your Stored Value Account and Fund Redemptions

Once you’ve opened a Stored Value Account, you agree to receive to your Stored Value Account specified amounts of proceeds from sales of items listed on eBay sites, net of applicable fees and taxes, payable to you by us. We will calculate such specified amounts to be settled to your Stored Value Account based on an instruction letter from an Eligible Service Provider detailing the share of sales proceeds you allocated. By opening the Stored Value Account, you agree that you are instructing us to settle and subsequently redeem such funds to this Eligible Service Provider. You further agree and understand that only the estimated portion of your sales proceeds allocated for a Redemption, according to your agreement with any Eligible Service Provider, will be settled by us to your Stored Value Account. Sales proceeds owed to you that have not been allocated for a Redemption will settle to you in accordance with the Payments Terms of Use, including, if applicable, to your separate Spendable Funds Stored Value Account, in accordance with the Spendable Funds Terms and Conditions.

At the time of a Redemption, you will receive a message in your eBay seller account notifying you that funds have been loaded to your Stored Value Account and redeemed to an Eligible Service Provider. This Redemption will also be reflected in a reduction in your “Total Balance.” You agree and understand that eCI is not a party to any agreement between you and an Eligible Service Provider, and that the role of eCI is limited to processing Redemptions to Eligible Service Providers on your behalf in accordance with your instructions, even if such instructions are provided to us through an Eligible Service Provider instead of you directly. Funds redeemed to Eligible Service Providers from your Stored Value Account may be less or more than the amounts you have allocated to such Eligible Service Providers, and you may have an independent obligation to deliver any allocated funds to such Eligible Service Providers.

You may not add funds to your Stored Value Account from any external sources such as a bank account (including any Linked Financial Account), credit card or debit card. You may not use the Stored Value Account to receive payments from any third parties. The funds in your Stored Value Account are denominated in USD.

IV. Holds

We reserve the right to manage the risks associated with providing you a Stored Value Account by placing restrictions on your access to your funds when deemed necessary, including by placing holds on your funds, as described in Part I, Section 7 (“Holds”) of the Payments Terms.

Funds placed on hold may include proceeds from one or more specific transactions, or the aggregated balance in your Stored Value Account. If funds are on hold, you may not access the funds and, for avoidance of doubt, such funds cannot be used for Redemptions, although amounts may still be owed to Eligible Service Providers.

We may restrict your use of Stored Value Account funds as necessary for fraud, risk management, or compliance purposes. If we place a hold on your funds, we will notify you through the eBay Message Center and/or by email.

V. Closing your Stored Value Account

We may close your account at any time by terminating our Payment Services in conformity with Part I, Section 11 (“Term, Termination”) of the Payments Terms.

You may close your Stored Value Account by contacting us using the Contact Information in our Payment Terms. You may not close your Stored Value Account:

• to evade investigation;

• if you have an outstanding assignment of sales proceeds with an Eligible Service Provider;

• if you have a Redemption pending; or

• if any portion of your Total Balance is subject to a hold.

Effect of Termination

Within a reasonable time following closure of your account, we will disburse any unused balance of funds in your Stored Value Account to your Linked Financial Account unless you otherwise instruct us (including via a standing instruction) to disburse such funds to an Eligible Service Provider. Termination of this Agreement will not affect the rights or liabilities of either party accrued until termination and/or any terms intended (expressly or implicitly) to survive termination, including the obligation to pay amounts owed to us or to third parties relating to your activities prior to termination.

VI. Complaints and Legal Disputes

You agree that any claim or dispute that has arisen or may arise between you and us relating to your use of the services described in these Limited Terms will be resolved in accordance with the provisions set forth in Payments Terms, including the Agreement to Arbitrate, which will, with limited exception, require you to submit claims you have against us or our agents to binding and final arbitration, unless you opt out of the Agreement to Arbitrate (see Part II, Section 4 (“Legal Disputes”), Subsection B ("Agreement to Arbitrate")). If you do not opt out: (1) you will only be permitted to pursue claims against us or our agents on an individual basis, not as a plaintiff or class member in any class or representative action or proceeding and (2) you will only be permitted to seek relief (including monetary, injunctive, and declaratory relief) on an individual basis. For avoidance of doubt, we are not responsible for any claim or dispute arising out of your agreement with an Eligible Service Provider.

VII. Miscellaneous

1. Privacy

We may collect and use personal data about you to provide services to you under these Limited Terms, including personal data we have previously collected. In certain circumstances, we may share this information with our affiliates in the eBay Inc. corporate family, or with non-affiliated entities that we use to provide Payment Services to you. You may find more details about the information we collect, share and use in the User Privacy Notice.

2. Assignment

You may not transfer or assign your rights to your eBay account or Stored Value Account, or to any funds held in your Stored Value Account, to any third party without our prior written consent. We may transfer or assign any or all rights or obligations at any time.

3. Modification

We may modify these Limited Terms at any time. We will notify you of amended terms by posting a revised version of the terms on our website, or by sending notice to you via the eBay Message Center. Modified terms shall become effective no earlier than fourteen (14) days following the date of notice.

4. Dormant accounts

If you do not log in to your eBay account for two or more years, we may close your eBay account, and escheat (send) any funds still held in your Stored Value Account to your state of residency or incorporation, as applicable, in accordance with the applicable laws in that state. We will determine your state of residency or incorporation based on the state listed in the registered address for your account. If your address is unknown or registered in a foreign country, the funds in your Stored Value Account will be escheated to the State of Delaware. Where required, we will send you a notice prior to escheating any funds in your Stored Value Account. If you do not respond to this notice, the balance in your Stored Value Account will be escheated to the applicable state. If you would like to claim any escheated funds from the applicable state, please contact the applicable state’s unclaimed property administrator.

Posted on: June 21, 2024