Deposit Agr. REV 04 2019
DEPOSIT AGREEMENTUNITED STATES
THIS AGREEMENT is made by and between WEX Bank
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, a Utah industrial bank, (“WEX Bank”) with a place of business at 7090
South Union Park Center, Suite 350, Midvale, UT 84047 and ________________ with a place of business at
____________________________________ (the "Customer") and it shall become effective as of the date set forth below.
WHEREAS, Customer intends to make credit card purchases using a WEX Bank issued charge or credit card; and
WHEREAS, WEX Bank has agreed to establish or has established a credit line (the “credit line”) for Customer on the condition
that the Customer deposit cash collateral with it to be held by WEX Bank as security for any and all obligations owing by the
Customer to WEX Bank arising on or after the date hereof.
NOW, THEREFORE, the parties hereto agree as follows:
1. The deposit shall not be less than $500.
2. The Customer shall deposit with WEX Bank the sum of $ (the "deposit"), the receipt of which is hereby
acknowledged and the Customer does hereby grant to WEX Bank a security interest in said deposit and in all credits or
other amounts owing from WEX Bank to the Customer, all in order to secure any and all obligations owing by the
Customer to WEX Bank arising on or after the date hereof.
3. WEX Bank shall record the deposit and any additional deposit on its books, but shall not be required to segregate the sum
from its other funds. WEX Bank may, at its sole discretion and without notice, apply said deposit and any additional
deposit, or so much thereof as is necessary, to satisfy any obligations including any outstanding account balances arising
on or after the date hereof from the Customer to WEX Bank. WEX Bank shall also have a right to set off with respect to
any credits or other amount owing by WEX Bank to the Customer.
4. If at any time the Customer ceases to become a WEX Bank card holder, and all of the Customer's accounts have been
paid in full and no further amounts are owed from the Customer to WEX Bank, then the remaining deposit amount shall be
returned by WEX Bank to the Customer within 30 days of termination.
5. The Customer agrees that it will pay amounts owed for credit card purchases made using a WEX Bank issued charge card
as such amounts become due and in accordance with credit terms established from time to time by WEX Bank. Nothing
herein contained shall relieve the Customer of its obligation to make such payments as they come due.
6. This Agreement shall be governed by and construed in accordance with federal law and the laws of the State of Utah
(without reference to choice of law rules).
7. This Agreement sets forth the entire understanding and supersedes any previous understandings or agreements, written
or oral, between the parties relating to the subject matter hereof. This Agreement may be modified only by an agreement
in writing signed by both parties.
By signing this Deposit Agreement, you are indicating that you have the authority to bind the Customer to this Deposit
Agreement and to the terms contained herein.
CUSTOMER NAME: _________________________________________________________________
Customer’s Physical Address:________________________________________________________
Customer’s Telephone Number: ____________________ Application ID or Account Number:_____________________
Authorized Signature: ____________________________ Printed Name: _____________________________
Title of Signatory: ________________________________ Date: ___________________________
To Provide a Deposit Return this
Agreement and Certified Check to: You May Also Wire Your Deposit Funds to:
Fuel Account Deposits MasterCard Deposits
WEX Bank WEX Bank WEX Bank
7090 South Union Park Center Suite 350 c/o Harris Bank c/o Harris Bank
Midvale, UT 84047 311 West Monroe, Chicago, IL 60606 311 West Monroe, Chicago, IL 60606
Routing # 071000288 Routing # 071000288
Account # 4539508 Account # 4539748
SWIFT Code:HATRUS44 SWIFT Code:HATRUS44
**You must include an Application ID or Account Number on the notes section of your wire or certified check.
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References to WEX Bank in this Agreement are also intended to refer to any entity to whom WEX Bank assigns its rights as allowed under any
credit agreement between the parties.
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