This Loop Multi-Currency Account Agreement ("Multi-Currency Account Agreement") is supplementary to the Platform Agreement between you and Loop Financial Inc. and is entered into between you ("Company") and Loop Payments Inc. ("Loop MSB" or "we", "us", "our").

Loop MSB is registered in Canada with the Financial Transactions Reports Analysis Centre of Canada ("FINTRAC"), registration number M22489771. Loop MSB is registered as a money service business and is able to provide foreign exchange dealings and money transfer services to customers resident in Canada.

This Multi-Currency Account Agreement governs your relationship with Loop MSB and your use of the Loop Multi-Currency Account, including any payment Services offered through your Loop Multi-Currency Account. We may amend or replace this Agreement by posting an updated version to our legal page (https://www.bankonloop.com/legal). Please read this Agreement, the Platform Agreement and the Loop Privacy Policy carefully before using your Loop Multi-Currency Account. By using the Loop Multi-Currency Account, you unconditionally agree to follow and be bound by this Agreement, the Platform Agreement and the Loop Privacy Policy. Where you are acting on behalf of any other party, you hereby confirm that you have the authority to bind, and you hereby bind such other party to the Agreement, the Platform Agreement and the Loop Privacy Policy. All references to "you" and "your" herein include references to each and every party that you are acting on behalf of, including all Users, except where the context otherwise requires. This Agreement addresses important legal issues that impact Company's rights and obligations, including, among other things, limitations of liability of Loop MSB to Company arising out of the use of the Loop Multi-Currency Account and the services.

IF YOU DO NOT ACCEPT THESE TERMS, THE PLATFORM AGREEMENT AND THE PRIVACY POLICY, YOU MUST NOT USE THE LOOP MULTI-CURRENCY ACCOUNT.

Notwithstanding anything to the contrary in the Platform Agreement, in the event of any conflict between this Agreement and the Platform Agreement, this Agreement will govern.

1. Definitions

Capitalized terms used in this Agreement have the meanings provided below or elsewhere in the Agreement. Capitalized terms that are not defined in this document have the definitions provided in the Platform Agreement.

1. Agreement means this Multi-Currency Account Agreement entered into between Loop MSB and Company as it may be amended from time to time.
2. Approved Currency means Canadian dollars and such other currency as added from time to time as disclosed within your Loop Multi-Currency Account.
3. Company, you, or your means the business entity, organization, association, group, or other commercial enterprise identified below and entering into this Agreement for purposes of establishing a Loop Multi-Currency Account.
4. Credit Facility means one or more financing arrangements that are entered into by Company with Loop which may be evidenced by a loan agreement or the Loop Card-based Credit Facility Terms and Conditions.
5. EFT means an electronic transfer of funds from a Payor to a Payee by way of bill payment, automated funds transfer or other electronic means, but excludes Interac e-Transfer.
6. EFT Service means the Services provided by Loop in connection with the facilitation of an EFT.
7. Force Majeure Event means any circumstance beyond the control of Loop MSB (including fire, flood, natural disasters, bank strikes, labour shortage, strike, lockout or walkout, power failure, pandemic, epidemic, termination or suspension of services by a Third-Party Service Provider, systems failure including computer or telephone failure due to unforeseen causes or interference from an outside force).
8. Foreign Currency Exchange Fee means the fee on foreign currency exchange transactions in the amount disclosed at https://www.bankonloop.com/pricing charged as described in Section 5.
9. Interac e-Transfer® means a money transfer sent through the Interac Corporation network.
10. Loop means, as applicable, Loop Financial Inc., its subsidiaries and affiliated companies, including Loop MSB, Loop Funding Inc. and Loop Fund I LP, as may exist from time to time.
11. Loop MSB, we, or us, means Loop Payments Inc.
12. Loop Multi-Currency Account means an account in the name of a User in an Approved Currency.
13. Payee means the recipient of funds.
14. Payment Instruction means any information or instructions provided by you to make a payment to a Payee, or request a payment from a Payor (including name, account number and Payment Date) through any Payment Service pursuant to this Agreement.
15. Payment Loading Method means any Card, EFT, Interac e-Transfer, wire transfer, P2P Transfer, or other payment type supported by Loop MSB, Loop or Third-Party Service Providers and authorized by Company for use by its Users to load funds onto a Loop Multi-Currency Account.
16. Payment Service means the EFT Service, the Interac e-Transfer Service, P2P Transfer, or any other payment service or functionality that may be provided by Loop MSB under this Agreement.
17. Payor means the person or entity whose account is debited on the basis of a transaction drawn on it.
18. Platform Agreement means the Platform Agreement entered into between Loop and Company as it may be amended from time to time.
19. Prohibited Activities List means the list of prohibited business types and activities posted on the Website (https://help.bankonloop.com/s/article/Restricted-Industries) as updated from time to time., as well as any activities contrary to applicable laws including AML/ATF and sanctions laws.
20. Registration Data means information about yourself and provided by you to Loop when you registered for your Loop Account or as updated by you from time to time on the Website with respect to your Loop Account.
21. Third Party Conversion Rate means the applicable rate we pay to a third party foreign exchange service to convert a currency to another currency.
22. Third-Party Service Provider means an affiliate or other third party that assists Loop in providing the services to Company, that supports Loop internal operations, or that provides other services related or connected to, or provided through the services, a Loop Multi-Currency Account, or Payment Loading Method.
23. User means Company and any Company employee, contractor, agent, representative or other individual authorized to use the Loop Multi-Currency Account or Payment Loading Methods by the Administrator on Company's behalf (each an "Agent") or is provided the means or is permitted to use the Loop Multi-Currency Account, any of the Payment Services or any Payment Loading Method.

2. Loop Multi-Currency Account

2.1 Loop Multi-Currency Account General Information

If you have established an Account with Loop, you can establish one or more Loop Multi-Currency Accounts in the name of a User. With a Loop Multi-Currency Account, Users can load funds to their Loop Multi-Currency Account using Payment Loading Methods assigned to the Loop Multi-Currency Account, hold funds in the Loop Multi-Currency Account and use the funds to make payments. Users may have multiple Loop Multi-Currency Accounts in different Approved Currencies.

When you load funds into your Loop Multi-Currency Account, we may place a hold on all or a portion of your money until we have verified that the funds will be available for payment to us. In addition to your obligations under this Agreement and the Platform Agreement, you must comply with any specific terms established by Loop and applicable to your choice of Payment Loading Method.

The funds Users add to a Loop Multi-Currency Account are held securely with a third party financial institution. You may be required to agree to a separate set of terms with such financial institution (the "FI Terms") in respect of some or all of such funds. Loop is not acting as an agent or representative of any such financial institution and is not responsible for any actions of such financial institution. Under this Agreement, such financial institution is not responsible for or liable to you or any of your beneficiaries for fulfilling your funds delivery and Loop MSB, not such financial institution, is responsible for the performance of Loop MSB's obligations under this Agreement. Unless the FI Terms provide otherwise, neither Company nor any User will receive interest or any other earnings on funds held in the account held with such third party financial institution and you agree that any interest that may be earned on funds in such account are owned by Loop MSB. The account details that we provide to you in order for you to receive funds from third parties are for accounts held by Loop MSB and its affiliates (and we will credit your Loop Multi-Currency Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you. In the event of a conflict between the FI Terms and any provision of this Agreement, the FI Terms will prevail with respect to the services provided by such financial institution to you pursuant to the FI Terms.

Loop MSB is not a bank and therefore value held as a balance in your Loop Multi-Currency Account represents an unsecured claim against Loop MSB and is not insured by the Canada Deposit Insurance Corporation (CDIC) or any other deposit protection scheme. Loop MSB does not use balances held by its customers for operating expenses or other corporate purposes.

All of your transactions (including your balance, uploaded money, and money you have received, converted, sent and/or withdrawn), including related fees and exchange rates, if applicable, are recorded in the transaction history section of your Loop Multi-Currency Account. You may access this information by logging into your Account.

2.2 General Company Obligations

Without limiting your obligations under the Platform Agreement:

1. To open and maintain a Loop Multi-Currency Account, you must provide us with all information as requested in the Application for the Loop Multi-Currency Account and in our ongoing provision of the Loop Multi-Currency Account, or as otherwise reasonably requested by us or required by applicable law.
2. You represent, warrant and covenant (including each time you provide information to us in connection with a Loop Multi-Currency Account) that: (i) all information you provide to us is and will be true, complete and accurate; and (ii) you have and will disclose all such information in accordance with applicable law, including laws relating to Personal Data; and (iii) you will comply with all applicable laws and instructions we provide to you in respect of the Loop Multi-Currency Account or this Agreement, the Platform Agreement and any other agreements between us and you.
3. You must immediately notify us of any error or change in any of the information in your Application for a Loop Multi-Currency Account or any other information that you have provided to us. You acknowledge that we may, from time to time, request updated or additional information from you and you must provide it within the time period we specify. We are not responsible in any way for any errors resulting from the inaccuracy or incompleteness of information you provide to us, including any Payment Instruction.
4. You must notify us immediately of any actual or suspected security breaches, attempted security breaches or fraud, or unauthorized access to or use of credentials relating to the Loop Multi-Currency Account services or the Payment Services, including to a Loop Multi-Currency Account itself or our or a Third-Party Service Provider's technology, or of any third party legal process relating to such activity or breach.
5. You must cooperate with us if we have inquiries about any suspected unlawful, fraudulent or improper activity relating to the Loop Multi-Currency Account services.

2.3 Permitted Uses

The Loop Multi-Currency Account services including Payment Loading Methods, shall only be used for business or commercial purposes and may not be used to engage in any activity on the Prohibited Activities List. In no event may the Loop Multi-Currency Account services be used for personal, family, or household purposes or for purposes on the Prohibited Activities List and doing so may result in immediate termination of this Agreement. You are prohibited from reselling, distributing or offering, directly or indirectly, the Loop Multi-Currency Account services.

In addition you must not do any of the following: (i) attempt to gain restricted access to any of our or a Third-Party Service Provider's systems; (ii) use the Loop Multi-Currency Account services, including any Payment Service, in violation of applicable law or in connection any purpose or activity that is unlawful, fraudulent or misrepresentative; (iii) rent, lease license or sell any of our or a Third-Party Service Provider's technology; or (iv) take action or employ any technique, device, software or routine that will result in interference with the operation of our or a Third-Party Service Provider's systems, or will impose an unreasonable or disproportionately large load on our or a Third-Party Service Provider's systems;

You must immediately notify us if you become aware of or suspect: (i) any activity that is not permitted under this Agreement; or (ii) any breach of this Agreement.

2.4 Receiving Money from Third Parties

In certain currencies, we may provide to you specified bank account details that you can in turn provide to third parties so that they can send money to your Loop Multi-Currency Account using either the electronic funds transfer method, or the wire transfer method. These account details are offered by our third-party banking partners. These specified bank account details that we may provide to you in order for you to receive funds from third parties are for accounts held by Loop and its affiliates (and we will credit your Loop Multi-Currency Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you.

When someone sends money to your Loop Multi-Currency Account using a method that we support, the money will appear in your Loop Multi-Currency Account. You should check the incoming funds in your Loop Multi-Currency Account against your own records regularly and let us know if there are any irregularities. When you receive funds you can accept them as-is and maintain a balance in your Loop Multi-Currency Account in that currency or accept them and then convert it to another currency, and hold that currency or send it to your or a third party's account. If you choose to receive money using this method, you will not have access to such funds until we receive the funds into our specified account.

You acknowledge that the money received in your Loop Multi-Currency Account via this method may be subject to reversal or chargeback and you agree that we can deduct the received amount from your Loop Multi-Currency Account if it is reversed by the person who paid you the received amount or any relevant payment services provider, including any third party financial institution. If, for any reason, the transaction is cancelled or refused, then we will promptly return the deposit to the bank account from which the transaction originated. In the event that we are unable to return the deposit, then we will promptly contact you using the most current Registration Data you have provided to us.

If you provide the account details we provide to you to a third party, you agree that you will not impose a surcharge or any other fee solely for accepting payment through a service offered by Loop. You are not permitted to receive payments by payment methods other than those permitted by Loop under this Agreement, including cash, mailed check, or electronic check. There may be financial limits for particular payment methods or currencies.

3. Using your Loop Multi-Currency Account

3.1 General – Payment Services

You can use the Loop Multi-Currency Account for Payment Services, as further described below. The Payment Services made available to you will depend on a number of factors including your verification status with us.

We cannot guarantee the use of any particular Payment Service and may change or stop offering a Payment Service at any time without notice to you, but we will ensure that you will have at least one Payment Service available to you unless prohibited by applicable law.

You are responsible for obtaining all consents for the collection, provision and use of any Personal Data and any confidential information, including contact information and any other information you include when sending, receiving or requesting a payment or using the Payment Services. You are also responsible for providing us with all required authorizations and any other information we reasonably request.

You represent and warrant that each time a debit transaction is initiated using the Payment Services: (i) such transaction is and will continue to be authorized and that you will notify us immediately if such authorization is rescinded or revoked; (ii) such transaction has been duly authorized by a valid signatory; and (iii) you will provide any required authorization and other required information to Loop MSB or a Payor, as the case may be.

You agree that your Loop Multi-Currency Account is subject to withdrawal and send money limits. If your withdrawal request exceeds the current limit, we may decline your request or impose additional checks or impose additional obligations or time limitations before allowing the money to be withdrawn.

We do not have any control over the time it may take for your or a Payee's bank or payment provider to credit and make available funds to you or the Payee once we make the funds available to you or the Payee's bank or payment provider. You acknowledge that other financial institutions and payment service providers are not obligated to accept any payment or debit request.

We may delay a withdrawal, in certain situations, including if we need to confirm that the withdrawal has been authorized by you or if other payments to your Loop Multi-Currency Account have been reversed, for example, as a result of a chargeback or bank reversal.

Loop MSB does not represent or warrant that any payment can be reversed or cancelled for any reason. Loop MSB reserves the right, in its sole discretion, to decline to act on any Payment Instruction, either in whole or part, when: (i) such Payment Instruction is unclear or suspicious; (ii) such Payment Instruction would violate any applicable law, rule or Loop MSB's policies or procedures; or (iii) Loop MSB has reason to believe that such Payment Instruction is not authorized by you.

3.2 EFT Services

Sending and Requesting Funds

You can use the Loop Multi-Currency Account to make payments both domestically and internationally to participating Payees in participating countries by either:

1. issuing a Payment Instruction for an online debit/charge to your Loop Multi-Currency Account; and
2. scheduling an automatic or pre-authorized debit from your Loop Multi-Currency Account.

You can also use the Loop Multi-Currency Account to:

1. receive payments that are sent to you by a Payor; and
2. request payments from a Payor, where permitted by the Payor and in accordance with any instructions provided or requested by Loop or the Payor's financial institution or payment service provider.

From time to time, Loop MSB at its sole discretion may add or delete Payees and can add and delete Payment Loading Methods that can be used to make payments to a Payee.

By providing Loop MSB with the names and account information of Payees to whom you wish to direct payments, you authorize Loop MSB to follow any Payment Instruction submitted by you. That means that when you provide Loop MSB with a Payment Instruction, you are authorizing Loop MSB to debit your Loop Multi-Currency Account and to remit funds to the relevant Payee on the date scheduled by you in the Payment Instruction (the "Payment Date").

You must not assign any authorization for EFTs unless we allow you to do so. If you intend to change your business name, you must notify us in writing at least 15 days before such change and you must notify your Payors in writing at least 10 days before such change.

If permitted by the EFT Services, you will be entitled to set up recurring payments. When a recurring payment is processed, it is automatically scheduled by the system based on your selected frequency setting for the payment, and a processing date is calculated for the next following occurrence. If such date is not a business day, it shall be adjusted to the immediately following business day.

You understand that different Payees have different payment requirements and it is your responsibility to know what your Payees' requirements are and to arrange your payments accordingly. You will ensure that all Payment Instructions provided to Loop MSB are received by us in sufficient time to permit Loop MSB a reasonable opportunity to deal with them. Loop MSB shall have no responsibility for (i) delays in crediting payments which are as a result of the Payee's procedures; (ii) your failure to follow a Payee's payment requirements; or (iii) your failure to schedule a Payment Date sufficiently in advance of the date that a payment is due.

In respect of your use of the EFT Service and without limiting any other provision of this Agreement, it is your responsibility to ensure that the information that you provide to Loop MSB is accurate. This includes your Registration Data, your Loop Multi-Currency Account, your Payment Date and your Payee details ("Payee Data"). You are also required to keep your Registration Data and Payee Data up to date.

We do not warrant that any particular EFT will be effected in a timely manner or at all, for any reason, including a Third-Party Service Provider's, or other financial institution's, failure to complete the associated transaction.

Loop MSB will have no responsibility and incur no liability to you if it is unable to effect any Payment Instruction(s) on a Payment Date owing to any one or more of the following circumstances: (i) if the Payment Instructions(s) issued by you to Loop MSB is/are incomplete, inaccurate, invalid or delayed; (ii) if the Loop Multi-Currency Account has insufficient funds or insufficient credit availability to cover the amount in the Payment Instruction(s) (plus any applicable taxes and/or fees); (iii) you have not provided Loop MSB the correct information, including the correct name, address or account information, or other information that may be required, for the Payee or use of the Payment Service; (iv) the occurrence a Force Majeure Event; or (v) for any other reason other than the gross negligence or wilfull misconduct of Loop.

In no event will Loop MSB be responsible for any late payment penalties, fees or interest imposed by a Payee under any circumstances.

Payment Cancellation Requests

An EFT is deemed to be completed unless the financial institution to which the EFT is made rejects the EFT. You acknowledge that we may return funds sent to your Loop Multi-Currency Account via an EFT if the Payor files a reimbursement claim in respect of such transaction. We shall not be required to inquire into the correctness of the reimbursement claim.

In the event that you wish to reverse or cancel a payment made by you using the EFT Service, you must contact us before 5 PM (EST) on any business day; however, you acknowledge that even if you contact us by such time, it may not be possible for such payment to be cancelled or reversed and have amounts returned to you, and Loop MSB disclaims any and all liability with respect to the foregoing. Loop MSB will use reasonable efforts to cancel the payment at no cost provided that the instructions are received in sufficient time to permit Loop MSB a reasonable opportunity to reverse the instruction in compliance with applicable clearing rules. Once the EFT Service has begun processing a payment it cannot be cancelled or edited.

Failed Transactions

If Loop MSB is unable to complete a Payment Instruction for any reason associated with your Loop Multi-Currency Account (for example, insufficient funds, insufficient credit, reversal/ return of funds by the Payee, stop/reversal of the transaction by a third party Payor), the transaction will not be completed and you will receive a return notice from Loop MSB. An NSF fee in the amount of $25 will also be assessed.

Records

You must retain all records of EFT transactions relating to your Loop Multi-Currency Account for a period of seven years after the last EFT transaction in your Loop Multi-Currency Account and you shall make such records available to us and any Third-Party Service Provider for reviewing and copying when requested by us or the Third-Party Service Provider.

3.3 Interac e-Transfer Service

You may use a Loop Multi-Currency Account to send or receive Interac e-Transfer transactions. Interac e-Transfer transactions can be sent domestically in Canadian dollars only.

Send Money and Autodeposit

Before sending an Interac e-Transfer to a Payee from your Loop Multi-Currency Account, you must ensure that the Payee is aware they will be receiving the Interac e-Transfer. The time it takes for the Payee to receive the Interac e-Transfer will vary. The Payee may allow for the Interac e-Transfer to be automatically deposited into their account or they may require you to ask a security question, which they must answer in order to receive the funds from the Interac e-Transfer. The Payee will have 30 days from the date the Interac e-Transfer is sent to claim the funds, after which the Interac e-Transfer will automatically expire and the funds will not be deposited.

Request Money

You may also request a third party Payor send an Interac e-Transfer to your Loop Multi-Currency Account. To do so, you must provide the prospective Payor's email address, mobile number and any other information we reasonably request. The prospective Payor will then be sent a message that you have requested an Interac e-transfer. If the Payor sends an Interac e-transfer to your Loop Multi-Currency Account and you have enabled "Autodeposit", the associated funds will be automatically deposited into your Loop Multi-Currency Account. Otherwise, you will be required to answer a security question correctly, for verification purposes, in order to receive the funds. An Interac e-transfer sent from another financial institution will expire after a certain period of time if you do not claim it.

Changes

You may request to change or cancel an Interac e-Transfer transaction before the Payee declines or accepts it. You may also request to change or cancel a request for an Interac e-Transfer before the prospective Payor declines or fulfills it. There is no assurance that these requests will be fulfilled; however, we will use reasonable efforts to do so.

Security Questions and Answers

If you set up a security question and answer when you send an Interac e-Transfer, the security question and answer you use must be unique, not easily guessed, and must not include a birth date, name, telephone number, social insurance number or sequential numbers or any other security credentials you use. You must ensure that only you and the Payee know the security question and answer and you, as the Payor or the Payee, must ensure that the security question and answer are not disclosed to any other person. You must not use any message that may accompany an Interac e-Transfer to send the security question or answer. You shall comply with all of our instructions with respect to security questions and answers. If you change your question or answer, it overrides any previously saved security question and answer for that Payee and the new security question or answer will enable the Payee to accept any previously sent Interac e-Transfer funds that have not yet been claimed and are not expired or cancelled. Loop MSB will not be liable for losses incurred by Payors or Payees as a result of the misuse, improper communication or improper disclosure of any answer to a security question.

Disclaimer

We do not represent or warrant that any Interac e-Transfer will be effected in a timely manner or at all. Without limiting anything in this Agreement, you are responsible for promptly verifying the status of any Interac e-Transfer and are required to immediately report any missing information or discrepancies in writing to us.

3.4 P2P Transfers

You may use a Loop Multi-Currency Account to send or request funds to another Loop Multi-Currency Account via a peer-to-peer transfer ("P2P Transfer"). You may only send or request funds via a P2P Transfer to or from yourself or businesses that you know and trust and who has agreed to send or receive the P2P Transfer. You may only use a P2P Transfer to send your own funds or to collect funds that are intended for you. When you send or request funds via a P2P Transfer, we will send a notification via the Website which will identify you as the Payor or Payee and will disclose necessary information including your name and/or phone number, picture and the amount of funds you sent or requested. In order to send a P2P Transfer, we will ask you to provide us with your contact's mobile phone numbers and these will act as unique identifiers. You have the option of manually entering this information or you can sync the contacts on your mobile phone for your convenience. We will ask your permission before syncing your mobile phone contacts. The use of this information will be subject to our Privacy Policy.

We may set limits for the amount of money you are allowed to send, receive, or request and the number of requests you are allowed to make using this service. We may block attempts to send, receive, or request money that exceed such limits. We may also change such limits at any time, and from time to time, without prior notice to you.

You acknowledge and agree that we may invalidate or reverse any P2P Transfer if we determine, in our sole discretion, that it was fraudulent, unauthorized, sent in error including to the wrong Payee, could not be completed due to insufficient funds or otherwise violated the terms of this Agreement. If you send or receive a P2P Transfer that is later invalidated or reversed, you may be liable to us for the full amount of the P2P Transfer, and such amount will be considered a liability for the purposes of this Agreement.

3.5 Paying your Credit Facility

You may use your Loop Multi-Currency Account to pay any amount owing under any Credit Facility.

Grant of Security Interest

To the extent permitted by applicable law, you may use your Loop Multi-Currency Account to hold funds as collateral for amounts owed under a Credit Facility, in which case you grant us a security interest in the funds held in your Loop Multi-Currency Account and the use of the funds may be restricted according to the terms of the Loan Documents. You agree to provide such information, execute such documents and provide such other assistance as reasonably necessary in connection with the grant, registration, perfection and enforcement of such security interest.

Set-Off

If Loop demands repayment of the full outstanding amounts owing under any Credit Facility, you irrevocably authorize Loop to set off the amount owed under the Credit Facility by deducting the balance from your Loop Multi-Currency Account. In order to recover the amount owed under the Credit Facility, Loop may be required to perform a currency conversion.

If you agree by checking the designated box on the Loop Platform to allow Loop to withdraw any amounts owing to it from time to time, such selection shall constitution due authorization by you for Loop to make any such withdrawal.

3.6 Other Payments

You may use your Loop Multi-Currency Account to make any other payments to or from yourself or businesses that you know and trust and who have agreed to receive such payment.

You are responsible for all reversals, chargebacks, claims, fees, fines, penalties and other liability incurred by Loop caused by or arising out of your use of the Loop Multi-Currency Account. You agree to reimburse Loop for any and all such liability.

3.7 What Happens if You Owe Us Money?

In the event you are liable for any amounts owed to us, you hereby irrevocably authorize us to immediately remove such amounts from your Loop Multi-Currency Account, if available, to fully or partially satisfy such liability. If there are insufficient funds in your Loop Multi-Currency Account to cover your liabilities to us, we reserve the right to collect your debt to us by using any payments received in your Loop Multi-Currency Account and otherwise you agree to reimburse us through other means. We may also recover amounts you owe us through other collection avenues, including through the use of a debt collection agency. We may recover all reasonable costs or expenses (including reasonable attorneys' fees and expenses) incurred in connection with the enforcement of this Agreement.

4. Currency Conversion

Our services include the ability to convert currencies, for example:

1. You may load money in one Approved Currency and use that balance to send money to a third party in another Approved Currency;
2. You may load money in one Approved Currency and use that balance to withdraw money in a different Approved Currency; or
3. You may convert a currency balance in your Loop Multi-Currency Account to hold in another Loop Multi-Currency Account in a different Approved Currency.

If you elect to convert currency, we will convert the funds using the Third Party Conversion Rate plus the Foreign Currency Exchange Fee. We will let you know the conversion rate when you place your currency conversion order.

We reserve the right in our sole discretion to refuse any currency conversion order. Reasons for refusal may include incorrect information about the Payee, insufficient available funds, or where we believe you may have violated this Agreement. We will endeavour to notify you of any refusal, using the contact information in your Account, stating (where possible) the reasons for such refusal and explaining how to correct any errors. However, we will not notify you if such notification may be unlawful.

We may place limits on the amount of currency you may convert at any given time, for more information on the applicable limits, please visit our Website. We may limit the amount of your conversion order consistent with our obligations under applicable law and at our discretion.

We carry out verification checks and these checks may increase the time it takes to process your currency conversion order. We cannot be responsible for any delays as a result of carrying out those checks.

You are responsible for ensuring the instructions you provide to us are accurate. Once payment instructions have been executed by Loop MSB, transactions cannot be cancelled or reversed and we will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions.

5. Fees and Taxes

The fees for our services, including withdrawing, receiving and sending money, and currency conversion will be disclosed to you when you place an order and prior to you confirming the transaction. You may also view the fee structure on our pricing page https://www.bankonloop.com/pricing. For clarity, the fees applicable to you on the pricing page form part of this Multi-Currency Account Agreement and are subject to change. We will not process your order until we have received the applicable fee from you.

You agree to pay the relevant fees using your chosen Payment Services. The fee will be charged at the time when you withdraw, send or receive money or convert currency. Our fee does not include any fees that your bank or the Payee's bank may charge. Those fees may be deducted from money you upload into your Loop Multi-Currency Account or balances in your Loop Multi-Currency Account.

You are responsible for any taxes which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

6. Term and Termination

This Agreement continues until terminated by either Company or Loop MSB or as otherwise set forth in this Agreement.

Company may terminate this Agreement by: (i) providing notice Company wishes to terminate this Agreement and close the Multi-Currency Account; and (ii) paying all amounts owed under all other agreements with Loop or Loop MSB. If Company reapplies or reopens the Account or uses or attempts to use the Services or Payment Loading Methods, Company is consenting to the Agreement in effect at that time.

Loop MSB may terminate this Agreement, or suspend the Account, Payment Loading Methods or Payment Services for any reason whatsoever and at any time at its sole discretion, without notice and without liability to you, including if required by a Third-Party Service Provider, as a result of Company's activities exceeding Loop's risk tolerances, fraudulent transactions, and Company's actual or suspected violation of applicable laws, including trade and economic sanctions laws, and anti-money laundering and anti-terrorist financing laws.

Company remains responsible for charges, fees, fines, and other losses caused by Company's action or inaction or otherwise arising with respect to any transaction or liability that accrued prior to the termination of the Agreement.

Sections 6 (Term and Termination), 7 (Notice and Communication), 8 (Limitation of Liability), 9 (Disclaimer of Warranties and Risk), 10 (Indemnification), 11 (Force Majeure Event), 12 (Governing Law and Venue), 13 (Legal Process), 14 (Assignment), and 15 (Headings and Interpretation); Section 2.10 (Ownership and License) of the Platform Agreement; the provisions of the Platform Agreement that identify continuing obligations; your representations and warranties under this Agreement and the Platform Agreement; and any other provisions of this Agreement giving rise to continued obligations of the parties will survive termination of this Agreement.

7. Notices and Communications

Company consents to Loop MSB providing Notices under this Agreement electronically and understands that Notices provided electronically have the same legal effect as a physical notice.

Loop MSB will provide Notices regarding activity and alerts related to the Account electronically through the Account, email, and via text or SMS to the contact information provided to us by Administrators and Users. Notices affecting payment and legal terms in the Agreement will be sent to Administrators through the Account or email and are considered received 24 hours after they are sent. Company understands that it may not use the Services or Payment Loading Methods unless Company consents to receive Notices electronically. Company may only withdraw consent to receive Notices electronically by closing the Account.

Loop MSB may send Notices to Users' mobile phones through text or SMS to the phone numbers Administrators and Users provide. These Notices may include alerts about Services, Payment Loading Methods or Charges, and may provide Administrators and Users the ability to respond with information about Charges on Payment Loading Methods, Cards, or the Account. Administrators and Users may elect to not receive certain Notices through the Account, but this will limit the use of certain Services and may increase the financial risks to Company. Company will secure appropriate authorization to send text or SMS messages to Users on Company's behalf.

Administrators and Users are required to maintain an updated web browser and computer and mobile device operating systems to receive Notices correctly. Administrators and Users are responsible for all costs imposed by internet or mobile service providers for sending or receiving Notices electronically.

Company, Administrators, and Users must contact Loop MSB immediately if Company is, or believes it is, having problems receiving Notices.

8. Limitation of Liability

UNLESS OTHERWISE SPECIFICALLY PROHIBITED BY LAW YOU EXPRESSLY UNDERSTAND AND AGREE THAT LOOP MSB SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU REGARDING YOUR USE OF THE WEBSITE, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING (I) BREACH OF CONTRACT, WARRANTY OR REPRESENTATION; (II) TORT (INCLUDING NEGLIGENCE); AND (III) LIABILITY WITHOUT FAULT OR STRICT LIABILITY; AND INCLUDING, FOR ANY LOSS OF PROFIT OR REVENUE, FAILURE TO REALIZE EXPECTED SAVINGS, LOST OPPORTUNITIES, COST OF CAPITAL, COST OF SUBSTITUTED ASSETS, COST OF SUBSTITUTED SERVICES, DOWN TIME COSTS, LABOUR COSTS, LOSS OF USE OF DATA, LOSS OF GOODWILL SUFFERED, OR OTHER INTANGIBLE LOSS. LOOP MSB SHALL NOT BE LIABLE FOR DELAYS, INTERRUPTIONS, SERVICE FAILURES OR OTHER PROBLEMS INHERENT IN THE USE OF THE INTERNET, SOCIAL NETWORKS, ELECTRONIC COMMUNICATIONS, TELECOMMUNICATIONS NETWORKS OR OTHER SYSTEMS OR NETWORKS. LOOP MSB SHALL NOT BE LIABLE FOR ANY INTERRUPTIONS OR DISCONTINUATION OF SERVICES. THE LIMITATIONS ON LOOP MSB'S LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT ANY LOOP MSB HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING.

Loop MSB's maximum liability to Company, its employees, agents, authorized third parties, representatives, Administrators, and Users, taken together in aggregate, under this Agreement is limited to the greater of the total amount of fees actually paid by Company to Loop MSB in the three months preceding the event that is the basis of the claim or five thousand dollars ($5,000). These limitations apply regardless of the legal theory or basis on which the claim is based.

9. Disclaimer of Warranties and Risk

LOOP MSB MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, TO USERS, OR ANY OTHER THIRD PARTY WHETHER ARISING FROM STATUTE, COURSE OF DEALING, USAGE OF TRADE OR OTHERWISE, AND LOOP MSB DISCLAIMS ALL WARRANTIES, INCLUDING ANY WARRANTY OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SUITABILITY, OR NON-INFRINGEMENT REGARDING ANY SERVICES OFFERED AND NOTHING IN THIS AGREEMENT WILL BE INTERPRETED TO CREATE OR IMPLY ANY SUCH WARRANTY TO COMPANY. THE SERVICES OFFERED BY LOOP MSB AND LOOP MULTI-CURRENCY ACCOUNTS, ARE NOT INTENDED AS A SUBSTITUTE FOR PROFESSIONAL ADVICE AND ARE PROVIDED TO YOU "AS IS" AND "AS AVAILABLE". PLEASE BE AWARE OF THE LAWS OF YOUR PROVINCE OR TERRITORY OR THAT OTHERWISE APPLY TO YOU WITH RESPECT TO ANY DOCUMENT THAT IS PROVIDED. YOU ACKNOWLEDGE THAT YOU ARE ACCESSING THE WEBSITE OF YOUR OWN INITIATIVE, AND ARE RESPONSIBLE FOR COMPLIANCE WITH THE LAWS THAT ARE APPLICABLE IN YOUR JURISDICTION.

THIRD-PARTY SERVICES ARE NOT PROVIDED OR CONTROLLED BY LOOP MSB. LOOP MSB DOES NOT PROVIDE SUPPORT FOR, DISCLAIMS ALL LIABILITY ARISING FROM FAILURES OR LOSSES CAUSED BY THIRD-PARTY SERVICES AND SHALL NOT BE LIABLE FOR ANY ACT OR OMISSION OF ANY THIRD PARTY.

LOOP MSB DISCLAIMS ALL WARRANTIES AND DOES NOT GUARANTEE THAT (A) SERVICES AND DATA PROVIDED UNDER THIS AGREEMENT ARE ACCURATE OR ERROR-FREE; (B) THE SERVICES WILL MEET YOUR SPECIFIC NEEDS OR REQUIREMENTS; (C) THE SERVICES WILL BE USABLE BY COMPANY, ADMINISTRATORS, OR USERS AT ANY PARTICULAR TIME OR LOCATION; (D) SPECIFIC MERCHANTS WILL PERMIT PURCHASES USING CARDS OR PAYMENT LOADING METHODS ISSUED BY ISSUER; (E) SERVICES WILL BE UNINTERRUPTED, SECURE, OR FREE FROM HACKING, VIRUSES, OR MALICIOUS CODE; AND (F) ANY DEFECTS IN THE SERVICES WILL BE CORRECTED, EVEN WHEN LOOP MSB IS ADVISED OF SUCH DEFECTS.

YOU ASSUME ALL LIABILITY AND RISK, AND RELEASE US FROM ALL CLAIMS, ARISING FROM: (A) ANY FRAUDULENT, FORGED OR UNAUTHORIZED ACTIVITIES RELATING TO THE LOOP MULTI CURRENCY ACCOUNT SERVICES, INCLUDING YOUR FAILURE TO REPORT SUCH ACTIVITY AND UNAUTHORIZED USE OF YOUR SECURITY CREDENTIALS; (B) YOUR BREACH OF THIS AGREEMENT; (C) THE IMPLEMENTATION OF OR THE FAILURE TO IMPLEMENT A RETURN, REVERSAL, CHANGE OR CANCELLATION OF A PAYMENT OR REQUEST FOR A PAYMENT; (D) US RESTRICTING OR TERMINATING YOUR USE OF THE LOOP MULTI CURRENCY ACCOUNT SERVICES DUE TO FRAUDULENT ACTIVITY; (E) YOUR ACCEPTANCE OR CREATION OF TRANSACTIONS THROUGH THE LOOP MULTI CURRENCY ACCOUNT OR OTHERWISE, INCLUDING ANY LIABILITY OR RISK: (I) THAT A TRANSACTION WAS IMPROPERLY SENT OR REQUESTED; (II) THAT YOU MAY BE REQUIRED (LEGALLY OR OTHERWISE) TO RETURN THE TRANSACTION OR ASSOCIATED MONEY TO ANOTHER PERSON FOR ANY REASON; OR (III) THAT THE TRANSACTION WAS ILLEGAL, BUT EXCLUDING ANY FRAUDULENT ACTIVITIES COMMITTED BY OUR REPRESENTATIVES OR ARISING FROM OUR BREACH OF OUR PRIVACY AND SECURITY OBLIGATIONS IN THE PRIVACY POLICY. YOU AGREE THAT THIRD-PARTY SERVICE PROVIDERS WILL NOT BE NOT LIABLE OR RESPONSIBLE FOR ANY LOSSES OR DAMAGES SUFFERED BY YOU BECAUSE OF TRANSACTIONS ACCEPTED OR INITIATED BY US, YOU OR ANY THIRD PARTY.

10. Indemnification

You and every party for whom you act agree to indemnify, hold harmless and defend Loop MSB, Loop, Third-Party Service Providers, as well as their respective officers, directors, employees, agents, consultants, representatives, successors and assigns (the "Indemnitees"), from and against any and all claims, demands, liabilities, costs or expenses of any kind, including, in particular, legal fees and disbursements resulting directly or indirectly from: (i) your breach of this Agreement, the Platform Agreement, the Privacy Policy or any other agreements with Loop MSB or Loop, including any representations and warranties set out in any such agreements, or any other actions by you in respect of such agreements or our relationship with you; (ii) your negligence, wilful misconduct or fraud; (iii) your access to, use of, or inability to access or use the Loop Multi-Currency Account; (iv) any actions taken by any of the Indemnitees in reliance on your instructions or information apparently communicated by you; (v) your use of or reliance on publications, communications, distributions or downloads of any nature; (vi) the implementation of or the failure to implement a return, reversal, change or cancellation of a payment or request for a payment; (vii) your violation of any law or applicable regulation; (viii) any breach of our or Third-Party Services Providers' technology caused by any action or omission by you; (ix) any errors or omissions or other failures made by you or any of your representatives in connection with submitting information to us for effecting a transaction; or (x) enforcement or preservation of any rights under this Agreement, the Platform Agreement, the Privacy Policy or any other agreements with Loop MSB or Loop. You agree to cooperate with Loop MSB in the contestation of any such claim, demand, liability, cost or expenses.

11. Force Majeure Event

Notwithstanding any other provision of this Agreement, we shall not be in default or breach of this Agreement or otherwise liable by reason of any failure in performance of this Agreement in accordance with its terms, if such failure arises or results from any Force Majeure Event.

12. Governing Law and Venue

Unless otherwise specified, this Agreement will be construed, applied, and governed by the laws of the Province of Ontario. By beginning an Application for an Account, each party (i) accepts, for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts (and courts of appeals therefrom) for legal proceedings arising out of or in connection with this Agreement; and (ii) expressly submits to the jurisdiction of such courts, and irrevocably waives, to the fullest extent permitted by applicable law, its rights to bring an action in any other jurisdiction that could apply by virtue of its present or future domicile or for any other reason.

13. Legal Process

Loop MSB may respond to and comply with any court or similar order received related to Company's use of the Loop Multi-Currency Account or services, including subpoenas, warrants, or liens. Loop MSB is not responsible to Company for any losses Company incurs due to Loop MSB's response to such court or similar order. Loop MSB may take any actions it believes, in its sole discretion, are required under court or similar orders including holding funds or providing information as required by the issuer of the court or similar. Where permitted, Loop MSB will provide Company reasonable Notice that Loop MSB has received such an order.

14. Assignment

Loop MSB may assign, pledge, or otherwise transfer this Agreement or its rights and powers under this Agreement without providing Notice to Company. Any such assignee will have all rights as if originally named in this Agreement instead of Loop MSB. Company may not assign this Agreement or rights provided, or delegate any of its obligations, without Loop MSB's express prior written consent.

15. Headings and Interpretation

Except where otherwise specified, all references to sections or provisions refer to sections or provisions in this Agreement or the applicable incorporated terms. The phrases "including," "for example," or "such as" do not limit the generality of the preceding provision; the word "or" will be read to mean either " . . . or . . ." or any combination of the proceeding items; and provisions listing items and using "and" require all listed items.

This Agreement, including incorporated terms, comprises the entire understanding of the parties with respect to the subject matter described and supersedes all other proposals or previous understandings, written or oral, between the parties. To the extent you enter into any FI Terms, those terms will govern as to your relationship between such financial institution and yourself.

16. Changes to this Agreement

Loop MSB may modify this Agreement or replace an agreement governing Company's use of the Account, Services, or Loop Multi-Currency Accounts, or any portion of them, by providing Notice. Any Administrator's or User's continued use of the Account, Services, or Loop Multi-Currency Account constitutes agreement to any modified or replacement Agreement.

Any waiver, modification, or indulgence provided by Loop MSB to Company, of any kind or at any time, applies only to the specific instance involved and will not act as a general waiver or a waiver, modification, or indulgence under this Agreement for any other or future acts, events, or conditions. Further, any delay by Loop MSB in enforcing its rights under this Agreement does not constitute forfeiture of such rights.

17. Void or Unenforceable Provisions

If any provision of this Agreement is deemed unlawful, void or unenforceable for any reason, that provision shall be severed, and the remaining provisions will remain in force and be fully enforceable. This Agreement applies for the benefit of Loop MSB, their officers, directors, employees, consultants, representatives, agents, successors and assigns.

18. Rights Reserved

All rights not expressly granted by this Agreement, the Platform Agreement or the Privacy Policy are reserved by Loop and Loop MSB, as applicable.

19. Language

The parties have agreed that this Agreement and any related documents will be written in the English language. Les parties ont convenu que ce contrat et ses accessoires soient rédigés en anglais.

20. Last Revision

The Date of Last Revision of this Agreement: September 19, 2024

Interac e-Transfer is a registered trademark of Interac Corp. Used under license.

Loop Business Cardholder Agreement

Last Updated: November 14, 2024

This Agreement sets out the terms and conditions applicable to your Loop Global VISA Card which are binding on you, Equitable Bank ("EQ") and Loop Financial Inc. ("Loop") with respect to the use of the Loop Global VISA Card.

Your acceptance and use of your Loop Global VISA Card (the "Loop VISA Card") is subject to the terms set out in this Loop Business Cardholder Agreement (the "Agreement").

By using or activating your Loop VISA Card, you are agreeing to the terms and conditions outlined below.

Equitable Bank ("EQ") is the Issuer of your Loop VISA Card.

The Loop VISA Card is provided to you in order for you to access funds subject to the terms of this Agreement and as long as you continue to act in accordance with this Agreement. You may use your Loop VISA Card to purchase goods or pay for service or obtain a cash advance at an eligible ATM.

Definitions

In this Agreement, the words listed below have the following meaning:

"Account" means the card account opened and maintained by Loop for your Loop VISA Card.

"Agreement" means this Loop Business Cardholder Agreement.

"Amendment" refers to any change to a term or condition of this Agreement or to the addition of a new term or condition.

"Approved Currencies" means any one or more of CAD, USD, EUR, GBP and any additional currency that Loop may make available from time to time.

"ATM" means an automated teller machine.

"Authorized User" means a person who has been issued a Card under the Account with the authorization and at the request of the Business Cardholder.

"Business Cardholder" means the business who applied for the opening of the Account and the issuance of a Loop VISA Card and in whose name the Account has been opened and to whom a Loop VISA Card has been issued under this Agreement.

"CAD", "CA$" means the lawful currency of Canada.

"Cardholder" means the Business Cardholder and any Authorized User.

"Credentials" includes a PIN, password or other Cardholder security credential.

"EUR", "EU€" means the lawful currency of the Eurozone.

"Foreign Currency Exchange Fee" means the fee on certain foreign currency Transactions charged as described in Section 5 and Section 11.

"GBP", "GB£" means the lawful currency of Great Britain.

"Loop Credit Account" means the loan account opened and maintained in your name under the Loop Card-based Credit Facility.

"Loop Card-based Credit Facility Terms and Conditions" means the terms and conditions applicable to the Loop Card-based Credit Facility and available in the Portal.

"Loop Card-based Credit Facility" means the loan facility made available to the Business Cardholder by Loop pursuant to the terms of the Loop Card-based Credit Facility Terms and Conditions.

"Loop Rewards Program" means the rewards program operated by Loop.

"Loop Rewards Program Terms and Conditions" means the terms and conditions applicable to the Loop Rewards Program.

"Mobile Payments Service" means Apple Pay, Samsung Pay, Google Pay or any other mobile payments service, digital wallet mobile device application or electronic application used to make Transactions with your mobile device.

"PIN" means a personal identification number, unique number or password which is provided by us or selected by the Cardholder and which is used in connection with a Loop VISA Card, including when a Loop VISA Card is used at ATMs, merchant terminals or other devices which require a PIN.

"Portal" means the Loop online portal which contains information regarding your Loop VISA Card including available balances thereunder. The Portal may be accessed online or via a mobile device.

"Transaction" means a transaction made using the Loop VISA Card by way of a purchase or a cash advance at an ATM.

"Transaction Amount" means the amount of a Transaction and includes any fees and the taxes imposed to complete the transaction.

"USD", "US$" means the lawful currency of the United States of America.

"VISA" means VISA International Incorporated, and its successors and assigns.

"VISA Conversion Rate" means the applicable rate that we pay to VISA to convert foreign currency to an Approved Currency.

"we", "us", and "our" mean Loop, and our successors, subsidiaries, affiliates or assignees.

"you", "your", and "yours" each mean the Cardholder.

Your Loop Global VISA Card

Your Loop Global VISA Card can be used anywhere that VISA is accepted to complete any Transaction, including an ATM Transaction or a point of sale transaction. Loop Global VISA Card use may be restricted for some merchants.

Using Your Loop Global VISA Card

When you use your Loop Global VISA Card, the Transaction Amount will be treated as amounts drawn under the Loop Card-based Credit Facility and must be funded in accordance with the terms of the Loop Card-based Credit Facility Terms and Conditions.

Approved Currencies

You are responsible for determining the amount available under your Loop Card-based Credit Facility Terms and Conditions in each Approved Currency and for ensuring you have sufficient availability in the Approved Currency for all such Transactions. Where the Transaction Amount in an Approved Currency exceeds your availability of the Approved Currency under the Loop Card-based Credit Facility Terms and Conditions, such excess amount will be subject to the Foreign Currency Exchange Fee, as outlined in Section 11.

Card Restrictions

• The Loop VISA Card can only be used for Transactions for business or corporate purposes by businesses resident in Canada and not for personal, family or household purposes and is not available for use by sole proprietors residing in Quebec.
• Use of the Loop VISA Card in certain countries may be restricted by law or at our discretion.
• You do not have the right to stop the payment of any Transaction you conduct with the Loop VISA Card.
• You may not use your Loop VISA Card to commit or facilitate illegal activity.
• The Business Cardholder may set specific spending limits or controls for Authorized Users, but the aggregate spending limit for all Cardholders may not exceed the total spending limit established by the Business Cardholder.

The Loop VISA Card is subject to maximum transaction limits, as set out below. Loop may change these limits in accordance with applicable law and will post notice on the Portal at least 30 days in advance of the date such change is to come into effect. The change will take effect on the date indicated in the notice. Your continued use of the Loop VISA Card, after the change to the limits has come into effect, will be taken as your acceptance of that change.

Card Restrictions

Limits	Per Day	Per Week	Per Month
Maximum cumulative amount of ATM Transactions	$3,000	$5,000	$7,500
Maximum number of ATM Transactions	3	5	8

Please also note the Loop VISA Card may be deactivated at any time if fraud related to the Loop VISA Card or use of the Loop VISA Card is suspected.

Fees

The table below sets out the fees that may be imposed by Loop (or third parties) in respect of Transactions made using the Loop VISA Card. For clarity, these fees are charged by, and for the benefit of, Loop or third parties and not EQ.

Fees	Details
Obtaining a physical Loop Card	$10 CAD per plastic card $50 CAD per metal card Additional $50 for expedited shipping
Foreign Currency Exchange Fees	All Transactions that are denominated in a currency that is not an Approved Currency will be converted into CAD (or first to USD and then to CAD, depending on the foreign currency) at the VISA Conversion Rate, as outlined in Section 11 below. A Foreign Currency Exchange Fee equal to 1.5% of the Transaction Amount will be applied to the converted amount. Subject to section 11, there are no Foreign Currency Exchange Fees for Transactions made in an Approved Currency.
ATM withdrawals	5 CAD/USD/EUR/GBP Fee Per ATM Withdrawal Please Note: an ATM operator surcharge (also called convenience fee) may be charged by ATM operators. The convenience fee is not a Loop fee. It is added directly to the amount of your cash withdrawal.

Lost or Stolen Card: You must take all reasonable steps to protect the Loop VISA Card and any Credentials against loss, theft, or unauthorized use. If the Loop VISA Card has been lost or stolen, or if you have reason to believe that someone has made an unauthorized transaction with the Loop VISA Card, or may attempt to use the Loop VISA Card without your permission, you must notify us through the Portal. All transactions carried out on the Loop VISA Card before you notify us will be considered to have been made by you.

Key Cardholder Responsibilities under this Agreement:

• You must take all reasonable steps to protect the Loop VISA Card against loss, theft, or unauthorized use. If you lose the Loop VISA Card, you must notify Loop immediately
• If you receive a Loop VISA Card that is not virtual, you must activate and/or sign the Loop VISA Card as instructed upon receipt of the Loop VISA Card.
• You must surrender the Loop VISA Card to us immediately upon request by us.
• You must ensure that there is a sufficient amount of credit available under your Loop Card-based Credit Facility to cover the full amount of Transactions made with the Loop VISA Card.
• If you find an error in any transaction record, you must communicate the error to the merchant with whom you made the Transaction.
• If you wish to dispute a transaction on your Card, you must notify us in writing of your dispute within 60 days of the Transaction date.
• You must only use our online resources as set out in 'Website and Availability', below.

Activating the Card: When you create a virtual card, it is activated immediately. Physical cards must be activated through the Portal through which you will be required to provide the details found on the physical card as verification.

Ownership and Use of the Card

The Loop VISA Card is issued by EQ and will remain EQ’s property.

Subject to Section 20, EQ or Loop may cancel or suspend any features or services of the Loop VISA Card at any time, with or without cause. Loop will provide you with as much notice of any cancellation or suspension as is reasonably possible or as otherwise required by applicable law.

You are solely and completely responsible for the possession, use, and control of the Loop VISA Card. You must surrender the Loop VISA Card to us immediately upon request by us. You will be liable for all transactions by Authorized Users. If you or any Authorized Users authorize another person to use the Loop VISA Card, you agree, to the extent permitted by law, that you will be liable for all transactions arising from use of the Loop VISA Card by such person. You should retain the receipt as a record of the transaction.

You do not have the right to stop the payment of any Transaction you conduct with the Loop VISA Card. We and/or EQ are not liable to you for declining authorization for any transaction, regardless of our reason.

Some merchants (including, but not limited to, restaurants, hotels, or car rental companies) may pre-authorize the transaction amount for the purchase amount plus up to 20% (or more) above the purchase amount to ensure that there are sufficient funds available under your Loop Card-based Credit Facility to cover any tips or incidental expenses. In such cases, your Transaction will be declined if the amount available on your Loop Card-based Credit Facility will not cover the Transaction Amount plus the additional amount.

A pre-authorization will place a ‘hold’ on an amount of your available credit until the merchant sends us the final payment amount of your purchase. Once the final payment amount is received, the pre-authorization amount on hold in excess of that final payment amount will be released. It may take up to 20 business days for the pre-authorization hold to be removed, and timing may vary depending on the type of merchant.

During the hold period, you will not have access to the pre-authorized amount.

Transactions in Foreign Currency

A Foreign Currency Exchange Fee will apply to the following Transactions: (i) point of sale transactions, where the Transaction is not in an Approved Currency; and (ii) ATM withdrawals where the local currency is not an Approved Currency.

If a Transaction is in an Approved Currency (and the Transaction Amount is within your availability under the Loop Card-based Credit Facility Terms and Conditions in respect of such Approved Currency) then the Transaction Amount will be drawn from your Loop Card-based Credit Facility in the Approved Currency. If the Transaction Amount is in Approved Currency but exceeds your availability under the Loop Card-based Credit Facility Terms and Conditions in respect of such Approved Currency, the Transaction will be declined.

If a Transaction is not in an Approved Currency, then we will convert the Transaction Amount into CAD or first to USD and then to CAD, depending on the foreign currency, using the VISA Conversion Rate in effect on the day the Transaction is posted to the Account. Whether or not foreign currency will be converted directly to CAD before being posted in your Account is determined by VISA and is subject to change. We will then calculate the Foreign Currency Exchange Fee on the converted amount and add it to the Transaction Amount. The VISA Conversion Rate in effect on the posting date may differ from the rate in effect on the date of the Transaction.

Returns or Other Amounts on Card

If a Transaction is refunded to the Loop VISA Card or if there is another transfer of funds onto the Card in an Approved Currency, such amount will be applied to outstanding amounts under the Loop Card-based Credit Facility Terms and Conditions in such Approved Currency.

If a foreign currency Transaction that is not an Approved Currency is refunded to the Loop VISA Card or if there is any other transfer of funds onto the Card in a currency that is not an Approved Currency, the Transaction Amount may be converted directly into CAD, or first to USD and then to CAD, depending on the foreign currency. Whether or not foreign currency will be converted directly to CAD before being posted in your Account is determined by VISA and is subject to change.

The amount credited to the Account will not always be exactly the same as the original Transaction Amount because we do not reverse the Foreign Currency Exchange Fee and the VISA Conversion Rate may be different on the date when the refunded Transaction is posted to your Account.

Protection Against Loss, Theft, or Unauthorized Use

If your Loop VISA Card is lost or stolen, you will be asked to provide us with your name, the Card number, the expiry date, and the Transaction history. Neither we nor EQ can re-issue a Loop VISA Card if you do not have your Loop VISA Card number.

If you lose the Loop VISA Card, someone might be able to access your Loop Card-based Credit Facility. Please use the Portal to request immediate cancellation of the Loop VISA Card. It may take up to 15 business days to process your re-issue request.

You agree, to the extent permitted by applicable law, to cooperate with us in our attempts to recover from unauthorized users and to assist in their prosecution.

Personal Identification Number (PIN)

You will be required to set up a PIN when you request a physical Loop VISA Card. When setting up or changing your PIN, you must not select a PIN:

• that is easily identifiable, such as a birth date, a phone number or a PIN that you use for any other accounts you may have;
• which can be easily obtained or guessed by someone else;
• that is the same as or contains any part of any number on an identification card that is kept close to your Loop VISA Card; or
• a PIN that does not comply with any other instructions provided by us for setting or changing your PIN.

You must:

• keep your PIN absolutely confidential and maintain the secrecy of your PIN or any other password for your Account (which includes passwords or access codes used to access your Account online or to complete Internet or other electronic transactions);
• take all reasonable precautions to ensure no one finds out your PIN, including while you key-in your PIN at an ATM or at a merchant with a chip-enabled terminal; and
• not write any PIN or password on your Loop VISA Card or on statements, if any, received for your Account.

You must not share your PIN or any other password for your Account with anyone.

Mobile Payments Services

Additional terms and conditions will apply to you if you elect to use a Mobile Payments Service. To use any Mobile Payments Service provided or developed by us that may be offered from time to time, a Cardholder must agree in advance to the terms and conditions of use applicable to such Mobile Payments Service.

You will be provided a copy of such terms and conditions and asked whether you agree with such terms and conditions at the time that you first log on to use such service. Such Mobile Payments Service terms and conditions, as amended from time to time, form an integral part of the Agreement.

Notification and Change of Terms

Subject to the limitations of applicable law, we may at any time change or remove any of the terms and conditions of, or add new terms or conditions to this Agreement. We will post any such changes, as well as the most recent version of this Agreement, on the Portal. As of the effective date included in any notice, the changed or new terms will apply to the Loop VISA Card, including, without limitation, all future transactions made using the Loop VISA Card.

You are responsible for checking our Portal for such notifications. You will be deemed to accept and be bound by the Amendment upon use of the Card following the effective date of the Amendment. If you do not agree to any change of this Amendment, you agree to immediately stop using the Loop VISA Card and notify us that you are terminating this Agreement.

Notwithstanding the foregoing, advance notice of any change may not be given if it is necessary to make any such change immediately in order to maintain or restore the security of the Loop VISA Card or any related payment system or comply with applicable law. If such a situation does arise, then you will be given notice as soon as reasonably possible in the circumstances.

Purchase Disputes and Refunds

: If you believe a transaction on your Loop VISA Card account is incorrect, you must notify us in writing of your dispute within 60 days of the transaction date. Following your notification, a form will need to be completed within 90 days of the transaction date. You can obtain a dispute form by logging into the Portal and following the prompts for lost or stolen cards. Please note that this form must be received within 90 days of the date of the disputed transaction or you will have been deemed to have accepted such transaction.

If you identify an error in any transaction record, you must address such error with the applicable merchant. If there is any dispute in regard to the purchase of goods or services you made using the Loop VISA Card, you agree to settle such disputes with the merchant from whom the purchase was made. Please ask the merchant for any return policy that may apply to purchases made with the Loop VISA Card. We and / or EQ are not responsible for any problems you may have with any goods or services that you purchase with your Loop VISA Card, whether with regard to quality, safety, legality, or any other aspect of your purchase. If you are entitled to a refund for any reason for goods or services obtained with the Loop VISA Card, you agree to accept credits on your Loop VISA Card in place of cash.

Arbitration

Subject to all other terms of this Agreement, you agree that any claim of any kind against Loop, or VISA (or EQ) arising from or related to this Agreement or the use of the Card (i) shall be resolved by final and binding arbitration before a single arbitrator in Toronto, Canada and (ii) shall not be brought through class or individual litigation proceedings. If such a claim is advanced by class proceeding by any other person on your behalf, you will opt out of, or not opt into, such proceedings as circumstances dictate.

Complaints

If you have a complaint or inquiry about any aspect of your Card, email us at complaints@bankonloop.com. We will do our best to resolve your complaint or inquiry.

Privacy

You consent to the collection, use and sharing of your personal information from time to time as provided in Loop's privacy policy. This policy may be amended, replaced or supplemented from time to time. To help protect you and us from fraud, we may from time to time provide merchants with verification of your address for internet, telephone and other remote Transactions.

No Warranty of Availability or Uninterrupted Use

FROM TIME TO TIME CARD SERVICES MAY BE INOPERATIVE, AND WHEN THIS HAPPENS, YOU MAY BE UNABLE TO USE YOUR CARD OR OBTAIN INFORMATION ABOUT THE AMOUNT AVAILABLE ON YOUR CARD. PLEASE NOTIFY US IF YOU HAVE ANY PROBLEMS USING YOUR CARD. YOU AGREE THAT WE AND / OR EQ ARE NOT RESPONSIBLE FOR ANY CONSEQUENCES OF ANY INTERRUPTION OF SERVICE.

Assignment

At our sole discretion, we (or EQ) may assign our rights and responsibilities under this Agreement at any time and without notice to you. If we (or EQ) do make such an assignment, then this Agreement will remain binding on you and your respective executors, administrators, successors, representatives and permitted assigns.

Third Party Claims

In the event we reimburse you for a refund claim you have made, or if we otherwise provide you with a credit or payment with respect to any problem arising out of any transaction made with the Loop VISA Card, you are automatically deemed to assign and transfer to us any rights and claims (excluding tort claims) that you have, had or may have against any third party for an amount equal to the amount we have paid to you or credited to your Loop VISA Card. You agree that you will not pursue any claim against or reimbursement from such third party for the amount that we paid or credited to your Loop VISA Card, and that you will cooperate with us if we decide to pursue the third party for the amount paid or credited to you. If we do not exercise our rights under this section, we do not give up our rights to exercise them in the future.

Disclaimer of Warranties

EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT, WE AND / OR EQ MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, WHETHER EXPRESS OR IMPLIED, REGARDING ANY SUBJECT MATTER OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR THOSE ARISING BY STATUTE OR OTHERWISE IN LAW OR FROM A COURSE OF DEALING OR USAGE OF TRADE.

Limitation of Liability

EXCEPT AS EXPRESSLY REQUIRED BY THIS AGREEMENT OR APPLICABLE LAW, NEITHER WE NOR EQ WILL BE LIABLE TO YOU FOR PERFORMING OR FAILING TO PERFORM ANY OBLIGATION UNDER THIS AGREEMENT UNLESS WE HAVE ACTED IN BAD FAITH. WITHOUT LIMITING THE FOREGOING, NEITHER WE NOR EQ WILL BE LIABLE TO YOU FOR DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES BEYOND OUR OR EQ'S CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, INSURRECTION, WAR, RIOTS, FAILURE OF MERCHANTS TO PERFORM OR PROVIDE SERVICES, FAILURE OF COMMUNICATION SYSTEMS, OR FAILURES OF OR DIFFICULTIES WITH OUR AND / OR EQ'S EQUIPMENT OR SYSTEMS. ALSO WITHOUT LIMITING THE FOREGOING, NEITHER WE NOR EQ WILL BE LIABLE TO YOU FOR ANY DELAY, FAILURE OR MALFUNCTION ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, ANY PAYMENT SYSTEM OR ANY CUSTOMER SERVICE FUNCTION. IN THE EVENT THAT WE AND / OR EQ ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL AND DIRECT DAMAGES. IN NO EVENT WILL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY OR SPECIAL DAMAGES (WHETHER IN CONTRACT, TORT, OR OTHERWISE), EVEN IF YOU HAVE ADVISED US OR EQ OF THE POSSIBILITY OF SUCH DAMAGES.

For greater specificity, and without limiting the foregoing, WE AND EQ ARE NOT LIABLE TO YOU FOR ANY DAMAGES OF ANY KIND IF YOU CANNOT COMPLETE TRANSACTIONS ON YOUR Loop VISA CardFOR ANY REASON WHATSOEVER.

Website and Availability

Although considerable effort is made to ensure that our Website and other operational and communications channels are available around the clock, we do not warrant these channels to be available and error free at all times. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures, nor will we be liable for extended interruptions due to failures beyond our control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labour disputes and armed conflicts. We will not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses that may affect your computer or other equipment. You agree to act responsibly with regard to the Portal and its use. You will not violate any laws, interfere or disrupt computer networks, impersonate another person or entity, violate the rights of any third party, stalk, threaten or harass anyone, gain any unauthorized entry, or interfere with the Portal's systems and integrity.

Entire Agreement

This Access Agreement, together with the Loop Card-based Credit Facility Terms and Conditions, the Loop Rewards Program Terms and Conditions and all other documents that are expressly referred to herein, which govern your use of the Card sets forth the entire understanding between you and us, whether written or oral, with respect to the subject matter hereof and supersedes any prior or contemporaneous understandings or Agreements with respect to such subject matter.

Governing Law

The parties agree that any claim or action brought pursuant to this Agreement will be brought in the exclusive jurisdiction of the courts of Ontario, subject to Section 17, and this Agreement will be construed in accordance with and governed by the laws of the Province of Ontario and the laws of Canada applicable therein.

Severability

If any of the terms of this Agreement are invalid, changed by applicable law or declared invalid by order of court or regulatory authority, the remaining terms of this Agreement will not be affected, and this Agreement will be interpreted as if the invalid terms had not been included in this Agreement.

Contact Information

If you have questions regarding the Card, or need to report a lost or stolen Card, please use the Portal. For our mutual protection, we may record all telephone calls that relate to the Card.

EQ

EQ is the issuer of the Loop VISA Card pursuant to license by VISA International Inc. under a program that is managed by Loop. As such EQ may collect, use, disclose and otherwise handle your personal information in its role as the issuer of your Loop VISA Card in accordance with this Agreement and its Privacy Statement (https://www.equitablebank.ca/privacy-agreement). EQ may also provide you with communications and notices related to your Loop VISA Card and this Agreement. You acknowledge that EQ is not party to and has no involvement with the Loop Card-based Credit Facility, the Loop Card-based Credit Facility Terms and Conditions, the Loop Reward Program or the Loop Reward Program Terms and Conditions (collectively, the "Loop Arrangements"). All Loop Arrangements are operated by Loop, and Loop is solely responsible for the Loop Arrangements. EQ has no responsibility for any of the Loop Arrangements under your Card including the amount of any credit extended to you or whether any Transaction you undertake with your Card are denied. You agree therefore, not to make any claims against EQ for any matter connected in any way with any Loop Arrangements and that EQ'S LIABILITY TO YOU IS LIMITED AS SET OUT IN SECTIONS 23 AND 24.

Language

You have expressly requested that this Agreement and any related documents be drawn up in English. Vous avez expressément exigé que cette Entente et tout document qui s'y rattache, soient rédigés en anglais.