Arc Rewards Terms

As a holder of an Arc account (“Arc Account”), you may earn rewards points based on your account balance, account activity, or both, as well as based on other limited-time and promotional offers.

These terms (the “Rewards Terms”) govern Arc Rewards, Arc Rewards Points, or any substantially similar non-cash tokens or units of value associated with or within your Arc account (“Rewards”), and all aspects of earning, receiving, holding, redeeming, or disposing of Rewards (the “Rewards Program”).  The Rewards Program is administered by Arc Technologies, Inc. (“Arc”).  As a condition of earning or redeeming Rewards, or otherwise benefiting from the Rewards Program, you are agreeing to these Rewards Terms, as they are updated from time to time (for important information about changes, see the section titled “Changes to the Rewards Program or these Rewards Terms”).

These Rewards Terms are part of Arc’s Terms of Use, which govern your Arc Account, and which you are agreeing to and/or reaffirming your agreement to as part of accepting these Rewards Terms.  If any of these Rewards Terms conflict with the Arc Terms of Use, the conflicting portion of these Rewards Terms apply.  Otherwise, the Arc Terms of Use apply.  These Rewards Terms also apply to any Rewards earned pursuant to any Arc Premium membership or Arc Platinum membership, and any associated rewards program for such memberships.

Earning Rewards

Within your Arc Account, activity related to your Arc financial accounts (“Arc Financial Accounts”) eligible to earn Rewards may include, but are not limited to, activity related to Arc Business accounts, Arc Wallet accounts, Arc Reserve accounts, and Arc card accounts.  You must have an Arc Financial Account in good standing in order to earn, receive, redeem, or retain Rewards.  Arc Treasury accounts are not Arc Financial Accounts for the purposes of these Rewards Terms, and Arc Treasury balances and activities do not earn Rewards.

You may earn Rewards based on your eligible Arc Financial Accounts’ account balance, account activity, or both, as well as based on other limited-time and promotional offers.  Rewards earned from all your Arc Financial Account balance or activity are credited to your Arc Account, not to any individual Arc Financial Account.

Arc will calculate the number of Rewards earned in its reasonable discretion using data in its internal systems. You cannot earn partial rewards. Rewards are generally calculated daily and awarded monthly, but will not be awarded if your Arc Account is not eligible and in good standing at the time of the award. Rewards may be adjusted retroactively before or after being awarded to your Arc Account if necessary to account for any discrepancy (for example, if a credit to your Arc Financial Account is later reversed; or if a card transaction is not completed; or if your Arc Financial Account balance was incorrectly calculated for any reason at the time of Rewards calculation).

Earning Rewards based on Arc Financial Account balances and activity

You may earn Rewards based on maintaining an Arc Financial Account balance. Your applicable Rewards rate (“Rewards Rate), if you have one, will be specified in your Arc Account dashboard. If no Rewards Rate is specified, your Rewards Rate is 0. The Rewards Rate for holding Arc Financial Account balances, if specified, is an annual rate.

Rewards will be calculated using the Rewards Rate for the applicable Arc Financial Account, applied as a simple daily rate to the end-of-day balance of the applicable Arc Financial Account.  Pending or non-cleared transactions are not included in your Arc Financial Account balance.

You may earn Rewards based on completing certain transactions using the ACH payment feature of an Arc Financial Account.  The Rewards Rate applicable to such transactions, if you have one, will be specified in your Arc Account dashboard or as otherwise specified to you by an Arc representative.  Transactions do not earn Rewards until they are final, which means clearing a pending state and any applicable holding period.

Earning Rewards based on Purchases

You may earn Rewards based on completing certain purchases using an Arc Card linked to your Arc Financial Account (“Eligible Card Purchases). The Rewards Rate applicable to your Eligible Card Purchases, if you have one, will be specified in your Arc Account dashboard. If no Rewards Rate is specified, your Rewards Rate is 0.  The Rewards Rate for Eligible Card Purchases, if specified, is a rate applied to the value of each Eligible Card Purchase transaction.  Eligible Card Purchases do not earn Rewards until they are final, which means clearing a pending state and any applicable holding period.

Certain types of transactions are not “Eligible Card Purchases” and will not earn Rewards, including but not limited to: balance transfers; cash advances; checks that access your Arc Financial Account; items returned for credit; disputed or unauthorized purchases; fraudulent transactions; foreign currency purchases; wire and ACH transfers (and similar cash-like transactions); lottery, gaming, or gambling purchases (and similar transactions); loads or reloads of balances on gift cards or prepaid cards or cash equivalents; taxes; person-to-person / peer-to-peer payments; cryptocurrency purchases; Arc Account or Arc Financial Account fees and charges, and fees for services or programs you elect to receive through us. Arc, in its sole discretion, determines whether a transaction constitutes an Eligible Card Purchase, reserves the right to deny Rewards, and reserves the right to remove Rewards if they were already granted on a transaction that is later deemed ineligible.

Earning Rewards based on offers or promotions

You may earn Rewards based on certain offers or promotions. Offers and promotions have specific requirements and are only available for a limited time.  The terms and requirements for such offers will be as specified in the offer or promotion; if an offer or promotion does not specify an end date or expiration, it has an end date of 6 months from the offer date.  Unless specifically waived or amended in the offer terms, if any aspect of these Rewards Terms are more restrictive than the offer or promotion terms, these Rewards Terms apply.

Holding and Redeeming Rewards

Your Rewards from all sources are held in your Arc Account  However, if you access Arc Financial Accounts of two or more legal entities through one login, those entities’ Rewards are not combined.

Redeeming Rewards for Statement Credit

Once Rewards post to your Arc Account, you may have the option to redeem them in various ways, including as a statement credit to your Arc Financial Account. Rewards held in your account are shown in terms of their redemption value.  Rewards held do not earn interest or yield.  You can check your Rewards balance at any time using the Arc web application (“Web App”), available at https://app.joinarc.com.

Your Rewards may be converted to cash in U.S. Dollars and applied as a general statement credit to your Arc Financial Account.  You must have an Arc Financial Account in good standing in order to redeem your Rewards.

Other Important Information about holding or redeeming Rewards

Only you or your Authorized Users may redeem Rewards. Rewards are not transferable or assignable to other Arc cardholders or accountholders.  Rewards, even when displayed in terms of their dollar value, have no cash value until you redeem them in accordance with these Rewards Terms . You have no property rights or other legal interest in any Rewards.  You are responsible for any taxes that may be due on redemptions.

If an adjustment is necessary after Rewards have been credited to your Account to correct a Rewards award, redemption, or balance, Arc may at its discretion apply the adjustment to your next Rewards credit, by debiting your available Rewards balance, or by reversing a Rewards redemption.

Losing Access to Rewards or the Rewards Program

Rewards do not expire.

If your Arc Account is not in good standing, Arc may immediately cease your Arc Account from earning or redeeming Rewards, and may immediately eliminate any accrued or accumulated Rewards. Your Arc Account is not in good standing under these Rewards Terms if, among other reasons: (1) it has been closed by you or by Arc; (2) it is associated with an Arc Financial Account or Arc Card that has been closed, frozen, or suspended by Arc or Arc’s financial partners; (3) it is associated with an Arc Treasury account that has been closed, frozen, or suspended by Arc or Arc’s financial partners; (4) it is associated with a Arc Financial Account or Arc Card with a negative balance; (5) it is at any point not associated with at least one Arc Financial Account that has maintained a daily average balance of at least $1,000 over the previous 30 days; (6) you violate any of these Rewards Terms or the Arc Terms of Use; or (7) you are delinquent in any payment owed to Arc or Arc affiliate; or (8) Arc reasonably believes that you or any associated Arc Card or Arc Financial Account’s activity may have violated any applicable law, agreement, or terms of use . 

In addition, and without limiting the foregoing, Arc may immediately cease your Arc Account from earning or redeeming Rewards, and may immediately eliminate any accrued or accumulated Rewards, and/or cancel your Arc Card or close your Arc Account if Arc determines in its sole discretion that you engaged in fraud, abuse, misuse, or gaming in connection with earning or using Rewards, or that you may attempt to do so, including, but not limited to:

• by buying or selling Rewards;
• by selling, or participating in the sale or exchange of, items of value obtained through use of Rewards;
• by repeatedly opening or otherwise maintaining Arc Cards or Arc Accounts for the purpose of generating Rewards; and
• by manufacturing spend for the purpose of generating rewards; or 
• by attempting any of the above.

Rewards eliminated, withheld, cancelled, voided or otherwise removed will not be reinstated unless Arc determines, in its sole discretion, that it has made an error.

If your Rewards reflect a negative balance, any Rewards you subsequently earn will be applied first to reduce the negative balance. You will not be able to use Rewards until your balance becomes positive.

Changes to the Rewards Program or these Rewards Terms

Arc may make changes to the Rewards Program (including termination of the Rewards Program) or change these Rewards Terms at any time. For example, Arc may:

• Add new terms or delete terms; or change how you earn Rewards
• Change which purchases are eligible to earn Rewards, or how many Rewards you can earn for  eligible purchases;
• Change which Arc Financial Account balances are eligible to earn Rewards, or how many Rewards you earn for Arc Financial Account balances;
• Change how you may redeem Rewards; 
• Change the value of Rewards when making redemptions;
• Change what you can redeem your Rewards for; and
• Impose caps or fees on earning or redeeming Rewards.

Changes to the Rewards Program will be made by posting updates to these Arc Rewards Terms, with the changes being effective as of the date posted. Arc will provide notice of material changes to the Rewards Program, including any of the changes listed above, as required by applicable law.  You understand and agree that Arc can make these changes at any time, and that future availability of certain aspects of the Rewards Program is not guaranteed.  It is your responsibility to check these Arc Rewards Terms for the latest updates.  By your continued participation in the Rewards Program you consent to the Terms as posted, including any changes.

If Arc terminates the Rewards Program, Rewards that are not redeemed prior to its termination will be forfeited, except as otherwise specifically required by law, in which case the minimum required redemption period will apply.