Terms and Conditions for Toast Restaurant Card Welcome Reward Promotion

For New Cards Issued between August 16, 2021 and December 31, 2021

If your Toast Restaurant Card (“Card”) account application is approved on a date between August 16, 2021 and December 31, 2021 (or a later date as determined by Toast) inclusively, you may earn Welcome Rewards based on qualifying Card purchases. You may view your Account Opening Date by accessing your Card account on ToastWeb and clicking on “Settings.” You do not need to take any additional steps to enroll in Welcome Rewards. Cards issued before August 16, 2021, or after December 31, 2021 (or a later date as determined by Toast), are not eligible to participate in the Welcome Rewards program. As used in these Terms and Conditions, “You” means the commercial entity that is the cardholder of the Card and “Toast” means Toast, Inc. (together with its affiliates).   

These Terms and Conditions relate only to the Welcome Rewards program and no other promotion or rewards programs that may be offered in connection with the Card from time to time. Your Toast Restaurant Card Program Agreement (“Cardholder Agreement”), a separate document, describes the terms and conditions for your Card account. Toast Restaurant Cards are issued by Sutton Bank, Member FDIC, pursuant to license by Mastercard International Incorporated. The Welcome Rewards program is offered by Toast and not Sutton Bank.

“Welcome Rewards” means that if you (together with all authorized users of your Card) spend at least $5,000 in qualifying Card purchases from the date you first activate your Card (“Original Activation Date”) through and including the date that is 3 calendar months after the Original Activation Date (“Welcome Period”), Toast will credit $500 to your Card account, subject to these Terms and Conditions. You may activate your Card by following the instructions provided to you by Toast. If, following your Original Activation Date, you replace your Card in accordance with your Cardholder Agreement, your Original Activation Date and Welcome Period will not change, but you may not be able to use the replacement Card until you activate it separately in accordance with the instructions provided to you by Toast. 

Qualifying Card purchases include physical point-of-sale and online purchases made with your Card for business purposes at merchants located in the United States that, in each case, post to your Card account during the Welcome Period. However, Toast may deem the following transactions not to be qualifying Card purchases and accordingly not count them toward earning Welcome Rewards: the purchase, loading or reloading of any prepaid, stored value or gift card or account, use of the Card to fund any deposit account or electronic wallet account, P2P payments, payments made by ACH debit, ACH credit, online bill payment transactions, ATM transactions and ATM fees, other fees assessed to your account, balance transfers, unauthorized transactions, the purchase of money orders, travelers cheques or other cash equivalents, or any use of the Card for transactions prohibited under your Cardholder Agreement, including gambling transactions (including the purchase of casino gaming chips). In addition, posting delays by merchants with respect to Card purchases may cause some Card purchases to post to your Card account after the end of the Welcome Period, in which case such Card purchases will not be qualifying Card purchases. The calculation of your total amount of qualifying Card purchases will be decreased by any returns, refunds, reversals, adjustments, transaction error corrections or disputes, chargebacks or other Card account entries that reduce the amount of any charge, that post to your Card account during the Welcome Period or the 30-day period following the end of the Welcome Period (the “Settlement Period”) with respect to qualifying Card purchases. 

“Cash equivalents” include currency, virtual currency, negotiable instruments and securities issued by the United States. 

“P2P payments” means money transfers made from a Card account to another person’s deposit account or payment account.

We may make changes to the Welcome Rewards program and we may add to or change these Terms and Conditions at any time without notice to the extent allowed by law. 

We will credit your earned Welcome Rewards to your Card account by no later than the last day of the Settlement Period. Welcome Rewards do not expire. In order to be eligible for Welcome Rewards, you must be a bona fide first-time cardholder of a Toast Restaurant Card and must not have been in breach of the Cardholder Agreement or any of your agreements with Toast at any time during the Welcome Period and the Settlement Period. Further, you are not eligible for Welcome Rewards, and Welcome Rewards will not be credited to your Card account, if, on the final day of the Settlement Period, your Card account is frozen, suspended, restricted, carries a negative balance, has a returned payment outstanding or otherwise is not open or not in good standing, or if you are in breach of your Cardholder Agreement, do not have a Card account or are no longer eligible to have a Card account, at the time we normally would credit your Card account. If your Card account is restored to good standing, we may choose to credit your Card account with any Welcome Rewards that otherwise would have been credited at an earlier time had your Card account been in good standing at such time. Your Welcome Rewards are not considered earned, credited to you or otherwise available for your use until such time as they are credited to your Card account as reflected in your Card account transaction history as a deposit to your Card account. Until Welcome Rewards are credited to your Card account, as reflected in your Card account transaction history as a deposit to your Card account, Welcome Rewards have no cash value, are not your property, do not belong to you, and you may not sell or otherwise transfer Welcome Rewards (including upon death, bankruptcy or as part of a domestic relations matter). We may require you to provide additional information to verify your eligibility for Welcome Rewards or the details of a Card purchase, and you will not receive Welcome Rewards if you do not provide the requested information within the required timeframe.

If we determine in our discretion that your Card account has actual or attempted suspicious, fraudulent, abusive, gaming or unusual activity, including unusual return or refund activity, or activity involving the creation of multiple Card accounts or the opening, closing and opening or re-opening of Card accounts, or that you otherwise have engaged or attempted to engage in conduct not in compliance with the Cardholder Agreement, we may take any remediation steps we deem appropriate, including (1) deeming you ineligible to participate in the Welcome Rewards program and any other rewards or promotional program that may be offered in connection with your Card at any time, and/or (2) deeming any Welcome Rewards you have received to be forfeited by you and debiting your Card account in the amount of any Welcome Rewards you have received. By participating in the Welcome Rewards program or using your Card, you authorize Toast or its banking and processing partners to debit your Card account in such amount.

The Welcome Rewards program and these Terms and Conditions will be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without giving effect to any choice of law or conflict of law rules (whether of the Commonwealth of Massachusetts or any other jurisdiction), which would cause the application of the laws of any jurisdiction other than the Commonwealth of Massachusetts. You consent to the jurisdiction and venue of the federal, state, and local courts located in the Commonwealth of Massachusetts.

By participating in the Welcome Rewards program, you agree to release and hold harmless Toast, its subsidiaries, affiliates, Sutton Bank, and each of the foregoing party’s respective officers, directors, employees, and agents (the “Released Parties”) from and against any claim or cause of action arising out of participation in the Welcome Rewards program or receipt or use of the Welcome Rewards. You further agree that in any cause of action, the Released Parties’ liability will be limited to $500, and in no event shall the Released Parties be liable for attorney’s fees. All third-party merchant locations (physical or Internet-based) where you make or attempt to make Card purchases are the property of the merchant and Toast does not take any responsibility for any content, services, products or activities conducted at such locations. Toast does not endorse or guarantee the products or services at merchants. Toast does not sell or provide any goods or purchases in connection with Card purchases at third-party merchants and all payments are made directly to the merchant when you pay in full at the time of purchase. 

Toast will not, under any circumstances, be responsible or liable, directly or indirectly, for any goods or services purchased at a third-party merchant or for any harm, damages or loss in connection with or caused by goods or services purchased at a third-party merchant or your reliance on the content, website, or business practices of a third-party merchant. You waive the right to claim any damages whatsoever, including, but not limited to, punitive, consequential, direct, or indirect damages. The Welcome Rewards program is provided on an “as is” and “as available” basis, and without warranties of any kind, either expressed or implied, including without limitation warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose and freedom from computer virus or other harmful components.

Disputes regarding the Welcome Rewards program or these Terms and Conditions should be submitted in writing to Toast, Inc., Attn: Issuing, 401 Park Drive, Suite 801, Boston, MA 02215. These disputes are not treated as disputes under the Cardholder Agreement. Toast reserves the right to resolve disputes in its sole discretion, and its decision regarding Welcome Rewards disputes shall be final. You agree that we may communicate with you about the Welcome Rewards program, using electronic means or otherwise, at the contact information associated with your Card account. 

You agree that the provisions of these Terms and Conditions are separate and severable from each other, meaning that if any provision is stayed or determined to be invalid, the other provisions remain in effect. No provision of these Terms and Conditions is deemed to be waived unless Toast expressly tells you in writing that it is waived in a specific instance, and any such express waiver applies solely to that provision and solely to that instance.

The Welcome Rewards program is provided solely by Toast. For questions about your Welcome Rewards, contact Toast customer service at 617-682-0225. For all questions or customer service inquires about a third-party merchant Internet-based or physical location, products or services, please contact the merchant. Toast Restaurant Cards are issued by Sutton Bank, Member FDIC, pursuant to license by Mastercard International Incorporated.