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NOTICE OF CHANGE TO YOUR MYBAMBU PREPAID VISA CARD (“NOTICE”) ACTION IS REQUIRED

DATE OF NOTICE: January 24, 2024

Thank you for being a valued MyBambu customer. This Notice highlights important changes to the Metropolitan Commercial Bank issued MyBambu Prepaid Visa® Card and your available options. The MyBambu program will be moving to Community Federal Savings Bank (“CFSB”) and will no longer be issued or supported by Metropolitan Commercial Bank (“MCB”) as of February 26, 2024.

ACTION IS REQUIRED ON YOUR PART. You must indicate to us if you wish to move the funds held at MCB in your My Bambu account (“Old Account”) to CFSB by February 23, 2024. If you do not want to move your Old Account to CFSB or you do not respond by February 23, 2024, your Old Account will be closed and a check will be mailed to you at the address associated with your MyBambu account. You will be able to opt in to applying for a new account at CFSB, and if approved, transferring your Old Account to the new account at CFSB (“New Account”) at any time after this notice but your New Account or new Visa® card will not be opened or active before February 26, 2024 (the “Transition Date”). If you do not want to open a New Account and opt out (as described below), your Old Account will be closed on the Transition Date and any underlying balance will be returned to you. On the Transition Date you will no longer have access to your Old Account or be able to use your MyBambu Prepaid Visa Card.

Capitalized terms have the meanings provided in the MyBambu Prepaid Visa® Card Agreement (“Agreement”) .

Please review this Notice carefully. If you have questions about this Notice:

 

As of the date of this notice through the Transition Date (the “Notice Period”), MyBambu will provide you with the ability to (i) elect to apply to open your new account at CFSB and transfer of the balance underlying your Old Account to your New Account at CFSB, if you qualify; or (ii) affirmatively object to and opt-out of opening your New Account, which will result in your Old Account being closed and any funds held in your Old Account being returned to you.

If you elect to opt-in to the transfer of your balance to your New Account during the Notice Period, MyBambu will (a) provide you with appropriate disclosures and terms from CFSB related to your New Account, (b) apply for and if approved (i) open your New Account with CFSB (which you will be able to access on and after the Transition Date), (ii) provide you with a new digital (or physical if you request one) Visa® debit card issued by CFSB which enables access to your New Account at CFSB, and (iii) cause the transfer of the funds underlying your Old Account to the New Account at CFSB on the Transition Date.

If you opt-out from opening a New Account at CFSB prior to the Transition Date, you do not indicate your choice, or if you do not qualify for a New Account at CFSB, your Old Account will be closed on the Transition Date, and we will send you a physical check for the balance of your Old Account (if any) within 30 days of the Transition Date. Any additional deposits to your Old Account balance after the Transition Date will be returned to the payor.

You can review your MyBambu Prepaid VISA® Card Agreement by visiting mybambu.com, clicking on the “Terms and Conditions” link located at the bottom of the homepage and selecting the MyBambu Prepaid Visa Card Agreement you wish to view or by opening the MyBambu App and clicking “Terms and Conditions” under Profile.

NO ADVERSE CHANGES TO YOUR BALANCE LIMIT, FEES AND OTHER LIMITS  The New Account at CFSB new Visa® card will not have any adverse changes to the account or card fees, the balance limit, or daily, weekly, or monthly limits from your existing MyBambu account limits or fees.

FDIC INSURANCE  While your funds are at CFSB, they are eligible to be insured up to $250,000 by the FDIC in the event CFSB fails, assuming specific deposit insurance requirements are met, and depending if you have other funds at CFSB in the same deposit category. It is your responsibility to determine if you already have a relationship with CFSB, and, if so, whether your aggregate balances at CFSB exceed the limit for FDIC deposit insurance (currently $250,000).

Your New Account at CFSB will be a demand deposit (checking) account and your CFSB Visa® card will be a debit card. Because your CFSB account is not a prepaid account, you will receive more detailed forms of disclosure and fees in the CFSB account agreement, and no longer will be eligible to receive a Short Form Disclosure of fees.

METROPOLITAN COMMERCIAL BANK DISCLAIMS ALL LIABILITY FOR THE TERMS OF THE NEW ACCOUNT AT CFSB AND THE CFSB-ISSUED CARD.

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MyBambu is not a bank. The MyBambu deposit account and MyBambu Visa® Debit Card are issued by Community Federal Savings Bank, Member FDIC. Not all financial services available through MyBambu are offered by Community Federal Savings Bank, refer to each service’s agreement and/or terms and conditions for further information.

BY USING THIS CARD, YOU AGREE TO THE TERMS AND CONDITIONS OF THE MYBAMBU DEPOSIT ACCOUNT AND CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. The MyBambu Visa® Debit Card is issued by Community Federal Savings Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. This card can be used everywhere Visa® debit cards are accepted.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT — To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

1. Register and open a MyBambu account using your country’s issued ID; we do not check your immigration status.

2. No monthly Fee, No Overdrafts, No minimum Balance. An inactivity fee may apply after 12 months.

3. Extra fees, such as, transfer fees, intermediary bank or foreign exchange charges, may apply.

4. Offer valid only when your referred friend opens a new MyBambu account and is verified.

5. The Visa® Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit http://www.visa.com/security.

6. International money transfers are not offered by Community Federal Savings Bank. From time to time, MyBambu may offer promotions related to the use of this service. Extra fees, such as, transfer fees, intermediary bank or foreign exchange charges, may apply. Regular fees will apply as per MyBambu’s fee schedule at the conclusion of any promotion. MyBambu reserves the right to change or end any promotion at any time.

7. Card funds will be held at or transferred to Community Federal Savings Bank, Member FDIC. While there, card funds are insured up to $250,000 by the FDIC in the event Community Federal Savings Bank fails if specific deposit insurance requirements are met. FDIC insurance does not apply to non-bank deposit products.

8. All Zelle® trademarks are the exclusive property of Early Warning Services, LLC. MyBambu products and services ARE NOT AUTHORIZED, ENDORSED, OR SPONSORED BY EARLY WARNING SERVICES, LLC- OWNER OF Zelle®. MyBambu is not an In-Network participant of the Zelle Network® service. Enrollment requires MyBambu customers to add their debit card (connected to a MyBambu account) directly with the Zelle® App. MyBambu users must enroll directly through the Zelle® App and not simply add a user’s information to access Zelle®. Please visit the Zelle® App help page here: Contact Us | Zelle (zellepay.com) for additional information.

MyBambu© 2024. All other product names, logos, brands, trademarks, and registered trademarks are property of their respective owners. All company, product, and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.

FOR CUSTOMER SERVICE CALL MyBambu at 1-833-882-2628

P.O BOX 3811 West Palm Beach Fl 33402.