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OFX Cashback Terms and Conditions

These OFX Cashback Terms and Conditions (“Cashback Terms”) form part of your OFX Card Agreement (Business). You should read these Cashback Terms along with any other Agreement that apply to your OFX Card.  When you activate, access or use your OFX Card, any of these actions mean that you have agreed to, received and read all documents that make up these Cashback Terms.

“You” and “your” refers to you, the primary, authorized OFX Client that applies for and is approved for an OFX Business Account, and where you add and/or issue an OFX Card to an Additional Cardholder, it will also apply to them

“We,” “us” and “our” refers to CanadianForex Limited (“OFX”), the issuer of your OFX Card linked to the cashback program.

1. How do you earn cashback rewards?

You can earn 1% cashback rewards when you make Qualifying Purchases using an OFX Card issued to you and this OFX Card is linked to an OFX Business Account that is open, active and in good standing.  The OFX Card making the Qualifying Purchases can be a digital or a physical card and it can also include any OFX Cards issued to Additional Cardholders. Only the OFX Business Account can earn cashback rewards. Additional Cardholders cannot earn cashback rewards directly or independently.

Qualifying Purchases means those net purchases charged and posted to the OFX Business Account using your OFX Card. Credits for refunds, returned items and other similar credits for purchase will reduce or cancel the cashback earned.  Cashback rewards on Qualifying Purchases earned will be rounded up or down to the nearest first two decimal places after the decimal point. You do not earn cashback rewards on fees, adjustments, refunds and/or rebates or other similar OFX Business Account credits and you do not earn cashback rewards on transactions completed directly in the OFX Business Account where you do not use the OFX Card.  

You cannot earn cashback rewards if the OFX Business Account, your OFX Card or a purchase transaction using the OFX Card has been restricted.  Please see your OFX Card Agreement (Business) to learn more about how we may restrict or close your OFX Card.  Please see your OFX General Terms and Conditions (Business) to learn how we may restrict or close your OFX Business Account.

Occasionally, we may make limited time offers that apply to your OFX Card cashback program that will grant you:

  • additional and/or increased cashback rewards earn rates for Qualifying Purchases,
  • additional or accelerated purchase categories that may increase cashback rewards earn rates for Qualifying Purchases,
  • bonus cashback rewards, and/or
  • benefits will select merchants.

Additional terms and conditions will apply to such offers and such terms and conditions will be available to you at the time the offer is made.

Cashback rewards earned has no monetary value until it is received as a credit to your OFX Business Account.

2. How do you receive your cashback rewards?

To receive cashback rewards, your OFX Business Account must be open, active, and in good standing at the time the rewards are applied.

We will automatically apply your cashback rewards as a single credit to your OFX Business Account each month, based on the total cashback rewards you’ve earned during your Billing Cycle. For more information on Billing Cycles, refer to your Subscription Agreement (Business).

If there is a need to adjust your cashback rewards in any given month (e.g., due to a refund, adjustment, or non-qualifying purchase), we will update your cashback rewards accordingly.

3. What happens if there is an error with your cashback rewarded amounts?

You must review your cashback rewards and credits applied to your OFX Business Account each Billing Cycle and contact us about any errors within 30 days from the date the cashback is applied to your OFX Business Account so we can immediately investigate them.  Contact using the information in section 8: Conduct Us.

If you do not contact us about errors within 30 days from the cashback rewarded credit date, we will consider the cashback rewards earned, and credit applied to your OFX Business Account to be correct (except for any amount we credited back to you in error).  If we confirm an error, or if we accidentally credit your OFX Business Account, we may adjust the cashback rewards amounts at any time without notice to you.

4. Can you combine your cashback rewards with another OFX Business Account under the cashback program?

No. You cannot combine cashback rewards with any other OFX Business Account. Only the cashback rewards earned by OFX Cards linked to a single OFX Business Account can earn and receive cashback rewards.

5. Can your cashback rewards expire, the cashback program end, or can you forfeit your cashback rewards?

Cashback rewards earned under the program will not expire or be forfeited so long as the OFX Business Account linked to the cashback program is open, active and in good standing and the OFX Card Agreement (Business) has not ended.

If we close the OFX Business Account and/or OFX Cards linked to the cashback program because the OFX Business Account or the OFX Cards are not in good standing or due to inactivity, all cashback rewards earned and not yet applied to your OFX Business Account will expire and be forfeited immediately.  

We can cancel or terminate the cashback program at any time in accordance with these Cashback Terms and/or the OFX Card Agreement (Business).

6. Can we restrict, cancel or terminate your right to participate in the cashback program?

We can restrict, cancel or terminate the OFX Card, the OFX Business Account or your participation in the cashback program if you or any Additional Cardholder:

  • abuses the program,
  • does not follow, or does anything to make us believe that they will be unable to follow the cashback program or these Cashback Terms,
  • make a misrepresentation to us,
  • conduct themselves in a way that hurts us, or may hurt us, or the interests of the cashback program,
  • the OFX Business Account linked to the cashback program is not in good standing,
  • the OFX Business Account or any OFX Card linked to the cashback program is in active, and/or
  • for any reason set out in the OFX Card Agreement (Business) or the OFX General Terms and Conditions (Business).

7. Changes

At any time, we may change, replace, add or remove any section of these Cashback Terms.

We will notify you when we make a material change or when required to do so by law.The notice of change may be given in an email, using the OFX Business Platform, or posting the notice of change to our website located at www.ofx.com

You will have accepted the change if, after the change is effective:

  • you use, access, or activate your OFX Card(s),
  • you use or access your OFX Business Account, and/or
  • your OFX Business Account remains open.

8. Contact Us

How to contact us:

9. Limitation of liability:

This section is in addition to the limitation of liability set out in the OFX Card Agreement (Business).We are not liable to you for any loss or damages. In no event are we liable for special, indirect or consequential damages. This limitation on our liability to direct damages applies even if we or you have been advised of the possibility that you may suffer other types of loss or damages.

In addition to the above, in no event are we liable for any damages (including special, indirect or consequential damages) resulting from any of the following: 

  • any losses related to your failure to do something, including a failure to meet your obligations under these Cashback Terms,
  • delay or inability to access or receive cashback rewards,
  • any failure, error, malfunction, misuse, delay, or inaccessibility of any system, equipment or service caused by a third party or other circumstances beyond our control,
  • any other failure, error, or delay by any third party or other circumstances beyond our control; 
  • suspension, cancellation or closure of the cashback program by us, and /or 
  • if we leverage any of our rights set out in the OFX Card Agreement (Business), the OFX Subscription Agreement (Business), the OFX General Terms and Conditions (Business) or these Cashback Terms and such rights impact your eligibility to participate in this cashback program.

10. Indemnity:

You agree to indemnify us (and any member of the OFX Limited Group) and hold us harmless from and against all charges, fees, damages, liabilities, costs and expenses (including legal costs) that may be incurred because of a breach of these Cashback Terms by you or an Additional Cardholder.

11. General

  1. OFX is not responsible for any taxes that may result from earning or redeeming cashback rewards under the cashback program.
  2. You cannot sell, barter or assign any cashback to someone else or to another OFX Business Account.  If you try to do so, the cashback rewards earned will become void.  Cashback rewards earned cannot be divided or transferred to any other OFX Business Accounts.
  3. If we fail or delay objecting or act when you do not follow these Cashback Terms, all these Cashback Terms remain valid and unchanged.  We also reserve the right to act on a breach later.  Any action or omission by us does not mean that we have waived or changed these Cashback Terms.
  4. If a court finds any portion of these Cashback Terms invalid or unenforceable, the remainder of the Cashback Terms remains valid.
  5. The headings in this Cashback Terms are for reference purposes only.  The headings do not affect the meaning or interpretation of these Cashback Terms in any way.
  6. For all primary, authorized Clients registered outside of Quebec: the laws that these Cashback Terms are the laws of the city of Toronto and the Province of Ontario, Canada. For primary, authorized Clients registered in Quebec, the laws that govern these Cashback Terms are the laws of Montreal in the Province of Quebec.
  7. The headings in these Cashback Terms are for reference purposes only.  The headings do not affect the meaning or interpretation of these these Cashback Terms in any way.
  8. These Cashback Terms are binding upon and benefits:
  • our successors, and
  • anyone we transfer, sell or assign this OFX cashback program to.

If we transfer, sell or assign our rights, we may disclose information about you, any issued OFX Cards linked to your OFX Business Account and information about your OFX Business Account to anyone to whom we assign our rights.

  1. For Quebec Clients. In the event that these Cashback Terms are characterized or construed as a contract of adhesion under Québec law, the party to these Cashback Terms on whom the essential terms and conditions or stipulations are unilaterally imposed and are not negotiable (the adhering party) acknowledges having been provided by the other party with a French version of these Cashback Terms at no cost, and thereafter, has explicitly expressed its willingness to be bound by these Cashback Terms written exclusively in English. The parties have expressly required and mutually agree to be bound exclusively by the English version of these Cashback Terms. The parties further agree that all documents related to these Cashback Terms, including notices and other communications, be drafted exclusively in English. Dans l’éventualité où la présente convention est qualifiée ou interprétée comme étant un contrat d’adhésion en vertu du droit applicable au Québec, la partie à cette convention pour qui les stipulations essentielles sont unilatéralement imposées et sont non négociables (la partie adhérente) reconnaît qu’une version française de celle-ci lui a été remise sans aucun frais par l’autre partie, et par la suite, avoir expressément exprimé sa volonté d’être liée à la convention rédigée exclusivement en anglais. Les parties ont expressément requis et conviennent mutuellement d’être liées exclusivement par la version anglaise de la convention. Les parties conviennent également à ce que tous les documents se rattachant à la convention, incluant les avis et autres communications, soient rédigés exclusivement en anglais.