The Expensify Visa® Commercial Card Program Terms

Last updated: June 6, 2024

As part of the Expensify Service, Members may elect to receive a Card (whether physical or digital) upon the approval of a Corporate Member, along with other related programs provided by Expensify from time to time (the "Corporate Card Program"), which such participation is governed by the Expensify Visa® Commercial Card Program Terms herein (the "Corporate Card Program Terms"), the Card Agreement (the "Card Agreement") with respect to the Business Account Owner and the Bank (as such terms are defined in the Card Agreement) and the Karma Program. Cards may only be used for a Corporate Member's bona fide business and may not be (a) used for any purpose that is unlawful or prohibited by these Corporate Card Program Terms or the Card Agreement; (b) used for any personal, family, or household use; (c) provided to or used for the benefit of an individual, organization, or country that is blocked or sanctioned by the United States, including those identified on the United States Office of Foreign Asset Control (OFAC); (d) by unaffiliated third parties; or (e) used for any other activities not for the benefit of the Corporate Member. Any capitalized terms not otherwise defined herein shall have the meaning assigned to them in the Expensify Terms of Service.

Definitions

• "Cardholders" means Members who are connected to a Workspace and are authorized by a Corporate Administrator to use a Card on behalf of the Workspace.

• "Card" means any physical, digital or virtual payment card issued by an Issuer and managed through the Corporate Member's Account that access the Cardholder's balance and which may be used only by such Cardholder for business purposes.

• "Card Agreement" means the agreement between Corporate Member, Expensify and the applicable Issuer for use of Cards identified on our Site.

• "Card Networks" means the payment card networks, such as Visa or Mastercard.

• "Charge" means a payment for goods or services made to a merchant that accepts payments on the applicable Card Network.

• "Chargeback" means a dispute that you initiate against a merchant for an unresolved dispute with the merchant or where a Charge is unauthorized.

• "Fines" means all fines, fees, penalties, or other charges imposed by an Issuer or regulatory authority arising from your breach of these Corporate Card Program Terms, the Card Agreement or other agreements you have with Expensify or an Issuer.

• "Issuer" means the bank or financial institution that is a member of the Card Network indicated on Cards and is responsible for issuing the Cards.

• "Third-Party Services" means services and data provided by third parties connected to or provided through the Expensify Service. Third-Party Services include payment processors and applications used to monitor Linked Financial Accounts.

• "Third-Party Service Provider" means an affiliate or other third party that provides other services related or connected to, or provided through the Expensify Service and Corporate Member's Account.

Corporate Administrator

If you are participating in Expensify's Corporate Card Program connected to a Workspace, the Corporate Member must specify at least one Corporate Administrator for the Corporate Member's Account. Corporate Administrators can set or change spending limits for Cardholders; view transactions; run reports and download statements; connect Linked Financial Accounts, Third-Party Services, and other accounts to the Corporate Member's Account; and perform other tasks on the Corporate Member's behalf.

Card Terms

Cards are issued by the Issuer identified on the back of the physical or virtual Cards issued to you, in the Card Agreement, and relevant program materials provided to you. These Corporate Card Program Terms and the Card Agreement govern your use of the Cards. You may only use the Cards if Corporate Member, the applicable Corporate Administrators, and your Cardholders consent to these Corporate Card Program Terms and Corporate Member and the applicable Corporate Administrator consent to the applicable Card Agreement. Expensify may update these Corporate Card Program Terms or the Card Agreement at any time by providing notice to you through the Application or the Site, and your continued use of the Cards constitutes your acceptance of the updated these Corporate Card Program Terms or the Card Agreement (as applicable). Cards are issued by , pursuant to a license from Visa U.S.A. Inc. and may not be used at all merchants that accept Visa cards. Issuer is responsible for the Cards only and does not endorse or sponsor the associated products, services or offers from Expensify, Inc.

CashBack Rewards Program

Expensify offers to Corporate Members the CashBack Rewards Program described below (the "CashBack Program"), subject to the following terms and conditions.

• The Program: If a Corporate Member is eligible for, and enrolls in, the CashBack Program, the Corporate Member will receive, on a monthly basis, a percentage credit (a "CashBack Credit") that is calculated based on the Net Charges successfully settled* to the Corporate Member's Account during the prior calendar month. "Net Charges" are bona fide business-related Charges processed by US merchants, minus any returns, disputed charges, chargebacks, unauthorized charges, illegal or fraudulent charges or other credits for such Charges that are successfully settled in the prior calendar month and not already included in a CashBack Credit calculation. In addition, Net Charges exclude any Fines, fees, or interest charged to the Corporate Member's Account. Unsuccessful settlements more than 30 days old will cease to be eligible for a CashBack Credit. Expensify reserves the right, in its sole discretion, to designate, develop or select eligibility criteria for the CashBack Program. Any questions relating to whether the CashBack Program remains in effect or is eligible for the CashBack Program will be resolved by Expensify in its sole discretion.

*Note that settlements processed via ACH can take up to three business days to successfully clear the chargeback window. Accordingly, Net Charges posted near month-end may be paid out in the subsequent month.

• Calculation of CashBack Credits: For each full or partial month during which the CashBack Program is offered by Expensify, an enrolled Corporate Member will be entitled to receive CashBack Credits in an amount equal to either (i) one percent (1%) of aggregate Net Charges successfully settled in the prior calendar month and not already included in a CashBack Credit calculation, or (ii) two percent (2%) of aggregate Net Charges successfully settled in the prior calendar month and not already included in a CashBack Credit calculation, if the total amount exceeds $250,000.

• Payment of CashBack Credits: Expensify will calculate the CashBack Credit earned by a Corporate Member for any given month and will provide the Corporate Member a credit equal to such amount either applied to their monthly Expensify subscription bill or deposited to the Corporate Member's Linked Financial Account via ACH, no later than the eighth (8th) day of the next month immediately succeeding the month for which the CashBack Credit is calculated. Expensify reserves the right to deliver the credit to the Corporate Member in either of the aforementioned manners at its sole discretion. The credit will appear on periodic statements provided for the Corporate Member's Account. Expensify will have no additional obligation to notify the Corporate Member of any CashBack Credit, or the calculation of any such amount.

• Expensify Solely Responsible: Expensify is solely responsible for administration of the CashBack Program described herein and the payment of all CashBack Credits. You agree to look exclusively to Expensify in the event of any dispute arising out of or relating to the CashBack Program or the amounts paid or payable thereunder.

• Termination: Expensify may suspend or terminate the CashBack Program or a Corporate Member's participation in the CashBack Program at any time without prior notice, including as a result of a default under the Card Agreement.

Expensify Approved! Accountant Card Rewards Program: Expensify offers to Corporate Members who are certified public accountants and have completed Expensify Approved! University the Expensify Approved! Accountant Card Rewards Program described below (the "Approved! Card Rewards Program"), subject to the following terms and conditions:

• The Program: If a Corporate Member is eligible for, and enrolls in, the Approved! Card Rewards Program, they will be eligible to receive 0.5% ("Revenue Share Credit") of aggregate Net Charges successfully settled* in the prior calendar month and not already included in a Revenue Share Credit calculation from Corporate Cards issued to clients of such Corporate Member, in addition to other benefits described at use.expensify.com/accountants-program, as may be updated from time to time. In addition, Net Charges exclude any Fines, fees, or interest charged to the Corporate Member's Account. Unsuccessful settlements more than 30 days old will cease to be eligible for the Revenue Share Credit. For the avoidance of doubt, the Revenue Share Credit is intended to only be applicable to charges which are eligible for a CashBack Credit (as defined within the "CashBack Rewards Program Terms of Service"), and any charges deemed ineligible for a CashBack Credit, as determined by Expensify in its sole discretion, will be ineligible for the Revenue Share Credit. *Note that settlements processed via ACH can take up to three business days to successfully clear the chargeback window. Accordingly, Net Charges posted near month-end may be paid out in the subsequent month.

• Payment of Revenue Share Credit: Expensify will calculate the Revenue Share Credit earned by a Corporate Member for any given month and will deposit an amount in cash equal to such amount to the eligible Corporate Member's Linked Financial Account via ACH, in the next month immediately succeeding the month for which the Revenue Share Credit is calculated. The Revenue Share Credit will appear in a system message in the Corporate Member's Account. Expensify will have no additional obligation to notify the Corporate Member of any Revenue Share Credit, or the calculation of any such amounts.

• Expensify Solely Responsible: Expensify is solely responsible for administration of the Approved! Card Rewards Program described herein and the payment of all Revenue Share Credit. You agree to look exclusively to Expensify in the event of any dispute arising out of or relating to the Approved! Card Rewards Program or the amounts paid or payable thereunder.

• Termination: Expensify may suspend or terminate the Approved! Card Rewards Program or a Corporate Member's participation in the Approved! Card Rewards Program or amend the Revenue Share Credit at any time without prior notice, including as a result of a default under the Card Agreement.

Karma Terms

As part of the Expensify Service, we provide a charitable offset program and feedback loop for all participants in the Corporate Card Program, who automatically receive Karma Points with each purchase on the Card. All Cardholders are subject to the Karma Program Terms, and each Cardholder acknowledges and agrees that such Cardholder's name and primary login credentials (e-mail address or phone number, depending on Cardholder's chosen registration method) may be shared with volunteers in the Karma Program and other Members. As part of the Karma Program, Cardholders agree to receive emails and chats regarding the Karma Program and instructions on how to use other Expensify functions to provide alternate forums for communications regarding the Karma Program. You acknowledge that by voluntarily providing your telephone numbers to Expensify.com, you expressly agree to be contacted at the telephone numbers you provide. You consent to receive e-mails and text messages by or on behalf of Expensify relating to this Agreement or any transaction with Expensify. These communications may be made by or on behalf of Expensify, even if your phone number is registered on any state or federal Do Not Call list. You acknowledge that you may incur a charge for texts by your telephone carrier and that Expensify will not be responsible for these charges.

Linked Financial Accounts and Third-Party Services

We will use Financial Data from Linked Financial Accounts to verify Account balances and Account information, establish spending limits, identify spending patterns and potential fraud, determine spending limits, analyze and report transactions, and provide the Expensify Service to you. You must maintain at least one Linked Financial Account at all times and agree that Expensify may directly debit this Linked Financial Account. You may change Linked Financial Accounts through the Corporate Member's Account.

Spending Limits

Company spending limits are set by and use Financial Data and Personal Data, which may include prior bank statements, available funds and spending patterns, nature and history of a Corporate Member's business, and anticipated use of Cards. We will not disclose how spending limits are determined. Spending limits are dynamic and may be modified at any time with or without notice to you, including temporary increases or decreases to your spending limits or reducing spending limits to $0. Corporate Administrators may set Cardholder-specific limits or controls through the Corporate Member's Account, but the aggregate spending limit for all Cardholders may not exceed the total spending limit established for the Company.

Requesting and Replacing Cards

Corporate Administrators may request Cards for Members through the Corporate Member's Account, but will only request Cards for and provide Cards to individuals that are employees or affiliated with or authorized by the Company. At the time the Corporate Administer approves a non-zero spending limit for a Cardholder, the Cardholder's Card will be immediately available virtually. Following such approval, we will issue the Cardholder a physical Card to the personal mailing address on file if available, or the business address otherwise on file. Cards may be denied or canceled due to changes in Issuer's policies, as required by law, or for other reasons we determine are appropriate under the circumstances. You will promptly notify us and take appropriate measures to prevent unauthorized transactions when a Card is lost, stolen, breached, or needs to be replaced. In such cases, Corporate Administrators may request the issuance of replacement Cards by Issuers through the Corporate Member's Account. Replacement Cards may have new account numbers that will require a Corporate Member or Member to update the Card on file for any scheduled or recurring payments. If you do not update the Card for scheduled or recurring payments, the transactions may not be completed. You are solely responsible for updating Cards stored with merchants where account numbers have been changed.

Using Cards

Cardholders may only use Cards for bona fide business-related Charges. The Corporate Administrator is responsible for selecting who in the Corporate Member's organization should have access to Cards. The Corporate Administrator agrees to establish and maintain controls designed to ensure that the Cards are only used for bona fide Corporate Member purposes and in compliance with Card Network rules. You are solely responsible for Charges made by any individuals given access to Cards even if they are not the person associated with or named on the Card. Expensify, Issuers, Card Networks, or other intermediary Third-Party Service Providers (including merchant acquirers) may deny or reverse Charges for any reason. Expensify is not responsible for any losses, damages, or harm caused by a Charges that are denied or reversed.

If you and a merchant have a dispute regarding a Charge, including delivery of the incorrect goods or services or being charged the wrong amount, you should first attempt to resolve the dispute with the merchant. If such a dispute is not resolved to your satisfaction or if you believe the Charge is unauthorized, you may initiate a Chargeback by contacting Concierge. The Card Networks have established procedures for resolving Chargebacks that may require that you provide details of the disputed Charge or associated documentation. Chargebacks resolved in your favor will be credited to your Account.

Payment

You are responsible for payment in full of all Charges, Fees, and Fines. Your Linked Financial Account will be automatically debited for the full amount of such Charges, Fees, and Fines on a daily basis, or on your monthly billing statement date ("Monthly Settlement"), to the extent that you are eligible for and elect to participate in monthly settlement by opting in via the "inbox" or "domain settings" for your domain until such a time you opt out of monthly settlement or become ineligible. If you do not pay any such charges, fees, and fines by the required due date, then your Card may be suspended or terminated, and you will be ineligible for Monthly Settlement.

Monthly Settlement

As a new Cardholder or a Cardholder not currently enrolled in Monthly Settlement, you must fulfill the following in order to be eligible to opt-in to Monthly Settlement: (i) your Linked Financial Account must have a positive balance for ninety (90) days and (ii) acknowledge and agree that Expensify will monitor and store your Linked Financial Account Balances on a rolling ninety (90) day basis to confirm your eligibility for Monthly Settlement (the "Eligibility Date"). If you are currently enrolled in Monthly Settlement and your Linked Financial Account is determined to have had a negative balance at any point in the prior ninety (90) day period, you will receive notice from Concierge that you have been unenrolled in Monthly Settlement until your Linked Financial Account balance has ninety (90) days of positive balances (the "Renewed Eligibility Date"). Upon reaching the Eligibility Date or Renewed Eligibility Date, you may visit your account settings to opt-in to Monthly Settlement.

ACH Authorization

THIS SECTION PROVIDES AUTHORIZATION TO AUTOMATICALLY DEBIT YOUR LINKED FINANCIAL ACCOUNTS FOR ALL AMOUNTS YOU OWE UNDER THIS PLATFORM AGREEMENT. PLEASE READ IT THOROUGHLY. For more information and to review the Agreement for ACH Services, visit Expensify's ACH Terms.

Your Authorization to Debit Linked Financial Accounts

You authorize Expensify, Issuers, or their assigns to collect amounts owed under these Corporate Card Program Terms by debiting funds from the Linked Financial Accounts at depository institutions (including banks and credit unions) using the Automated Clearing House (ACH) network governed by the rules established by the National Automated Clearing House Association (NACHA). These debits are bound by NACHA rules for business-related ACH debits.

Manner and Timing of Payment

Unless you are eligible and elect to enroll in Monthly Settlement, we will debit Linked Financial Accounts for all amounts owed to us under this Agreement on a daily basis, as applicable. If you are eligible and enrolled in Monthly Settlement, we will debit Linked Financial Accounts for all amounts owed to us under this Agreement at the end of each month. If we cannot collect these amounts via ACH, you agree to immediately pay all amounts owed as directed. You also authorize Expensify, Issuers, or their assigns to debit Linked Financial Accounts immediately, on any date, and without additional notice where (a) the total aggregate balance of Linked Financial Accounts is less than any balance minimums that we have communicated to you or (b) we determine in our sole discretion that the Corporate Member poses or may pose an unacceptable risk to Expensify, Issuers, or third parties or no longer satisfy the underwriting criteria used to establish the spending limit for Corporate Member. You also authorize Expensify to unenroll you from Monthly Settlement if you are no longer eligible to be enrolled.

Withdrawing Your Authorization

To withdraw the debit authorization from a Linked Financial Account, you must provide us 30-days' advanced notice and pay all amounts owed under your Account immediately. Withdrawal of a debit authorization does not terminate these Corporate Card Program Terms or your obligation to pay all amounts owed under these Corporate Card Program Terms or the Card Agreement. You will be responsible for all costs of collections and damages under these Corporate Card Program Terms if amounts owed are not paid by you as described in these Corporate Card Program Terms.

Dispute Resolution

In addition to the dispute resolution provisions set forth in the global Terms of Service, you further agree that for any disputes arising under the Expensify Corporate Card Program Terms, any party may seek provisional remedies in aid of arbitration from a court or other tribunal of appropriate jurisdiction, including without limitation, by invoking Emergency Relief Procedures pursuant to Rule 2(c) of the JAMS Comprehensive Arbitration Rules and Procedures, or by seeking expedited relief in court.