WSFS BANK  
Credit Card Agreement 

(Also available online at www.wsfsbank.com/creditcards) 

Please read all of this Agreement, including the Arbitration Provision (Section 11), and keep it for your records. 

1. 

INTRODUCTION. This WSFS Bank Credit Card Agreement and the enclosed document titled, “Credit Card Terms and 
Conditions” (together, the “Agreement”) is your contract with us. This Agreement contains important information about 
your Account, such as your annual percentage rates and certain fees. Any amendments to the Credit Card Terms and 
Conditions, or to this WSFS Bank Credit Card Agreement will also be part of this Agreement. This Agreement is effective 
immediately upon our issuance of a credit card to you upon approval of your application.  

“Account” means your WSFS Bank Credit Card Account governed by this Agreement.   

“Authorized User” means any person you allow to use your Account, whether through the use of the Card we provide 
you, the Card Account number, access checks or otherwise.  “Authorized User” also includes any person who, at your 
request, receives a Card bearing the name of such person and allowing access to your Account.  We may limit the 
number of Authorized Users permitted on your Account. 

“Billing Cycle” means the period of time between each monthly statement.  Each monthly statement relates to a single 
billing cycle. 

“Card” means any initial or replacement credit card(s) that we issue to you or to any Authorized User(s). We may replace 
your Card with another Card at any time.  Before using your Card for the first time, sign the back of your Card. 

“New  Balance”  means  the  total  outstanding  balance  due  as of the end of  a  Billing  Cycle, as  shown  on the monthly 
statement for that Billing Cycle.  

“We”,  “us”,  and  “our”  mean  Wilmington  Savings  Fund  Society,  FSB  (“WSFS  Bank”),  a  bank  and  trust  company 
headquartered in Delaware, and its successors and assigns.   

“You”, “your”, and “yours” mean each and every person who applies for and is granted or accepts or uses an Account, 
and any person who has guaranteed payment of this Account, individually and together.  

A.  Promise to Pay. You promise and agree to pay us for the amounts of all credit obtained on your Account resulting 
from transactions made by you, any Authorized User, and all persons you or any Authorized User allow to use your 
Account. Credit includes all Purchases, Balance Transfers, and Cash Advances, as well as all interest charges, 
fees and any other charges owed under this Agreement.  

B.  Account Use and Acceptance. By accepting your Card and using or maintaining your Account, or letting someone 
else  use  your  Card  or  your  Account,  you  agree  to  all  the  terms  of  this  Agreement.  You  acknowledge  that  you 
received a  copy  of  this  Agreement. Your  signature  on  your application  or  solicitation for this Account,  including 
without  limitation any electronic  signature, your  Card or any  Account-related  document,  or oral  acceptance of  a 
telephone offer, represents your signature on this Agreement.  

You may use your Account for lawful personal, family, or household purposes. You must not use your Account for 
business or commercial purposes, or to make a payment on this or any other credit account owned by WSFS Bank 
or any bank affiliated with WSFS Bank.  

You may not use or permit your Account to be used to make any illegal transaction. We will not be liable if you 
engage in an illegal transaction. We may deny authorization of any transactions identified as Internet gambling.  

You may not use your Account to conduct transactions in any country or territory or with any individual or entity that 
is  subject to  economic  sanctions  administered and  enforced by  the  U.S.  Department of  the  Treasury's Office  of 
Foreign Assets Control. Use of your Account in this manner will be blocked.  

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
C.  Amending This Agreement. We may amend this Agreement at any time and for any reason, by adding, deleting 
or  changing any  provisions of  this Agreement,  including  interest  rates  or  fees. We may  change  this  Agreement 
based on economic or market conditions, our business strategies or for any other reason, including, but not limited 
to, reasons unrelated to you or your Account. We will notify you of amendments to this Agreement as required by 
applicable law. If an amendment gives you the opportunity to reject a change, and if you reject the change in the 
manner provided in such amendment, we may close your Account and may ask you to return all credit devices as 
a condition of your rejection.  

2.  GOVERNING LAW. This Agreement is entered into in the State of Delaware and we extend credit to you from the State 
of Delaware. The laws of the State of Delaware, without regard to conflict of laws principles, and applicable federal law 
govern this Agreement.  

3.  USING YOUR ACCOUNT. 

A.  Credit Availability.  

1.  Your Credit Limit(s). We have discretion to determine your credit limit(s) on your Account.  We assign an initial 
credit  limit  upon  approval  of  your  application  and  issuance  of  your  Card,  which  is  disclosed  to  you  in  the 
materials we send with your Card.  On each monthly statement, the total credit limit on your Account is shown 
as the “Credit Limit” and the total credit available is shown as “Available Credit”.  Only a portion of the credit 
limit  is  available  for  Cash  Advances  (the  “Cash  Advance  Limit”).    The  amount  of  credit  available  for  Cash 
Advances is disclosed on each monthly statement as “Available Cash”.  At our discretion, at any time, we may 
change any credit limit that applies to your Account, as permitted by law.  We will notify you if we change any 
credit limit.  You may ask us to change any of your credit limits by contacting us by telephone at the customer 
service number located on the front of your monthly statement or writing to us at the address for Billing Inquiries 
and Correspondence located on the front of your monthly statement.  We do not have to agree to any such 
request. 

2.  Available Credit. The amounts shown on your monthly statement as Available Credit and Available Cash do 
not include Purchases, Balance Transfers, Cash Advances, interest charges, minimum interest charges, fees, 
any  other  transactions,  or credits  which  we  receive and post to  your  Account after  the  Closing  Date of that 
monthly statement.  As a result, the actual amount of Available Credit and Available Cash may be different from 
the amount shown on your monthly statement. You may telephone us at the customer service number located 
on the front of your monthly statement or write to us at the address for Billing Inquiries and Correspondence 
located on the front of your monthly statement for your available credit. 

3.  Exceeding the Credit Limit. Your total outstanding balance, including all transactions that we have authorized 
but have not yet posted to your Account, must not be more than your credit limit.  Similarly, the total outstanding 
balance of your Cash Advances, including all Cash Advance transactions that we have authorized but have not 
yet  posted  to  your  Account,  must  not  be  more  than  your  Cash  Advance  Limit.    Each  time  you  attempt  a 
Purchase,  Balance  Transfer  or  Cash  Advance,  which  would  result  in  your  total  outstanding  balance  and 
authorized transactions exceeding a credit limit, we may either allow or refuse the transaction at our discretion. 
If we allow the transaction, the amount by which your New Balance exceeds your Credit Limit will be added to 
the Total Minimum Payment Due. 

If we refuse the transaction, we may advise the person attempting the transaction of this fact.  If we refuse to 
permit  a  Cash  Advance or  Balance  Transfer,  we may do so  in  any manner,  such  as by  advising  there  are 
insufficient funds to pay the Cash Advance or Balance Transfer, or that credit has been refused. 

B.  Types of Transactions. You may use your Account to obtain credit for Purchases, Balance Transfers and Cash 

Advances.   

1.  Purchases. “Purchase” means the use of the Card, Account number, Mobile Device or other credit device to 
buy or lease goods or services. A transaction that is defined as a Cash Advance is not a Purchase. If you use 
your Card to purchase goods or services by telephone, mail, or internet, you agree that your signature is not 
necessary as identification in such cases.  Purchases include adjustments related to any Purchase. 

2.  Cash Advances. “Cash Advance” means (1) use of the Card, Account number, Mobile Device or other credit 
device to obtain cash from a financial institution or an automatic teller machine (“ATM”); (2) use of the Card, 
Account number, Mobile Device or other credit device to purchase a Cash Equivalent.  A “Cash Equivalent” 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
 
includes traveler’s checks, savings bonds, foreign currency, money orders, wire transfers, lottery tickets, gift 
cards,  purchases  or  reloading  prepaid  cards,  gaming  chips  and  other  lawful  methods  used  for  gambling 
transactions; or (3) use of an access check you sign as drawer. An “access check” means a check we send to 
you that can be used to obtain credit on your Account.  Access checks will have an expiration date.  An access 
check may not be used after its stated expiration date.  We will not honor an access check that posts after the 
expiration date.  We may decline an access check that posts prior to its expiration date if we suspect the access 
check to be fraudulent, if your Account is not in good standing or has insufficient applicable credit available at 
the  time  the  access  check  is  presented  for  payment,  or  if  the  access  check  is  damaged  or  unable  to  be 
processed.  Cash Advances include adjustments related to any such Cash Advance.  

3.  Balance Transfers. “Balance Transfer” means a transfer at your request of a balance to your Account from 
another credit card account with a third party (other than us or any of our affiliates) using a written or online 
balance transfer form we provide, or by a verbal request you make to us for such transfer.  Balance Transfers 
include adjustments related to any Balance Transfer.  A transaction that is defined as a Cash Advance is not a 
Balance Transfer.  We may limit the number and types of credit card accounts from which we will allow Balance 
Transfers,  and  the  times,  manner,  and  circumstances  in  which  Balance  Transfers  may  be  requested.  The 
minimum Balance Transfer amount that we will process is $250 (plus the Balance Transfer Transaction Fee).  
See the Credit Card Terms and Conditions for Balance Transfer Transaction Fee details.   

4.  Mobile Devices. Any Purchases or other transactions made using a smart phone, tablet or other electronic 
device  on  which  your  Account  number  and/or  other  Account  information  has  been  stored  or  downloaded 
(“Mobile Devices”) are covered by the terms of this Agreement. Applications that use your Account information 
to make transactions may have separate terms of use. We are not responsible if you violate those terms, or for 
any consequences resulting from any violation of those terms. 

5.  Access Checks. You may not issue a postdated access check on your Account.  If you do, we may, at our 
discretion, either honor it upon presentment to us for payment, or return it unpaid to the person that presented 
it to us for payment, without waiting for the date shown on the access check.  We are not liable to you for any 
loss or expense as a result of either action.  If you want us to stop payment on an access check, telephone us 
at the customer service number located on the front of your monthly statement or write to us at the address for 
Billing Inquiries and Correspondence located on the front of your monthly statement.  Give us the access check 
number, dollar amount and payee exactly as they appear on the access check.  We will not be liable to you if 
we cannot complete the stop payment request. 

6.  Foreign Transactions. If you make a transaction in a foreign currency (including for example purchasing online 
from a foreign merchant), the transaction amount will be converted to a U.S. dollar amount by Visa International 
in accordance with Visa’s operating regulations or conversion procedures in effect at the time the transaction 
is processed. Currently, those regulations and procedures provide that the currency conversion rate to be used 
is either the government mandated exchange rate or the wholesale exchange rate, in effect one day before the 
date of the conversion, as applicable. The currency conversion rate used by Visa International on the currency 
conversion date may differ  from  the  conversion  rate  in  effect on the  transaction date or  posting  date of  the 
transaction. Visa International’s procedures may change without notice. 

7.  Recurring  Authorized  Transactions.  Recurring  authorized  transactions  are  automatic  charges  to  your 
Account that you establish with a merchant and authorize to occur on a regular basis, usually monthly.  You 
must  contact the merchant  to  stop a  recurring  charge.   If  we  send  you a new  Card or Account number,  for 
example,  because  your  prior  Card  expired  or  was  lost  or  stolen,  it  is  your  sole  responsibility  to  provide 
merchants with updated Card or Account number information.  We are not liable for any fees or other charges 
you incur because a recurring transaction did not transfer to a new Card or a new Account number.  Some 
merchants  are  able  to  automatically  access  your  new  Card  or  Account  number,  in  which  case  recurring 
transactions will continue. 

C.  Refusal  To  Honor  Your  Account.  We  have  discretion  to  refuse  to  honor  any  transaction  presented  on  your 
Account  for  any  reason  or  no  reason.  A  merchant,  business  or  financial  institution  may  refuse  to  honor  any 
transaction presented on your Account. These include transactions made by Card, Account number, access check, 
Mobile Device, and any other credit device.  We are not liable for any refusal to honor your Account.  We are not 
liable for retention of the Card by us, a financial institution, or any provider of goods or services.  

D.  Statements. 

1.  General. At the end of each monthly Billing Cycle, if there was activity on your Account, we will send you a 
statement showing what you owe, the minimum payment due, the Payment Due Date, your current credit limit, 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
an  itemized  list  of  fees, charges,  payments  and  credits  posted  to  your Account during  the  Billing  Cycle  and 
other important information.  We will mail or deliver the monthly statement to the address we have on file for 
your Account.  However, we reserve the right to change your Account Billing address if the U.S. Postal Service 
notifies us that your address has changed. 

2.  Change  of  Address.  You  must  notify  us  promptly  of  any  change  in  your  address  by  contacting  us  at  the 
customer service number located on the front of your monthly statement or write to us at the address for Billing 
Inquiries and Correspondence located on the front of your monthly statement.  Until we receive, process and 
verify your new address, we may continue to send monthly statements and other notices to the last address we 
have on file for your Account. 

E.  Credit Balance. We will make a good faith effort to return to you any credit balance that has been on your Account 
longer than six consecutive Billing Cycles (or, at our discretion, for a shorter time period).  You may also request a 
refund of a credit balance on your Account at any time.  We may reduce the amount of any credit balance on your 
Account by applying the credit balance towards new fees and charges posted to your Account.  We do not pay any 
interest on credit balances. 

F.  Payments.   

1.  General. You must pay each month at least the Total Minimum Payment Due by the “Payment Due Date” noted 
on each monthly statement on your Account.  You may pay us more than the Total Minimum Payment Due, up 
to and including the total outstanding balance on your Account, at any time.  However, any payments made in 
a current Billing Cycle will not count toward any Total Minimum Payment Due in the following Billing Cycle(s).  
Merchant  credits  or  person-to-person  money  transfers  or  other  credits  to  your  Account  are  not  treated  as 
payments and will not reduce your Total Minimum Payment Due. We have discretion to accept or reject any 
payment(s) made on your Account when there is a current credit balance (i.e., you do not owe any amount on 
your Account and prior payments or credits have resulted in a credit balance on your Account).  

We can accept partial or late payments without losing any of our rights under this Agreement.  If you submit 
any  payment  marked  as  “paid  in  full”  or  with  other  restrictive  writing  that  is  less  than  the  total  outstanding 
balance on your Account, we can credit that payment to your Account and you will remain fully liable for any 
remaining  total  outstanding  balance  above  the  amount  of  your  payment.    No  payment  shall  operate  as  an 
accord  and satisfaction  without  the prior  written  approval of an officer  of WSFS authorized to provide  such 
approvals. 

You may not use a postdated check to make a payment.  If you do try to use a postdated check to make a 
payment, we do not have to wait for the date shown on the check and can either honor it upon presentment, or 
return it uncredited to the person who presented the check.  We are not liable to anyone for any loss or expense 
arising from the action(s) we take with respect to such postdated check.     

2.  Total Minimum Payment Due. The Total Minimum Payment Due each Billing Cycle is: 

the greater of $25 (or the entire amount due, if less than $25) or 2% of the New Balance; plus 
the amount by which the New Balance exceeds the Credit Limit; plus 

a. 
b. 
c.  all past due amounts. 

The Total Minimum Payment Due will be rounded up to the nearest whole dollar, unless New Balance exceeds 
the Credit Limit, but will not be greater than your New Balance.   

3.  Payment Allocation. We allocate payments at our discretion as permitted by applicable law.  The amount of 
your  payment equal  to  the  Total  Minimum  Payment  Due  will  be  allocated  first to  unpaid  Transaction  Fees, 
Account Fees, and Minimum Interest Charges, then to unpaid interest charges, then to the balance with the 
lowest  APR  and  then  to  balances  with  higher  APRs.  Payment  amounts  in  excess  of  your  Total  Minimum 
Payment Due will be applied to balances with higher APRs before balances with lower APRs and any remaining 
portion to the other balances in descending order based on the applicable annual percentage rate.  .  

4.  Making Payments. Payments may be made by mail, online, at a WSFS Bank branch, or over the telephone. 
All payments must be in U.S. dollars and, if applicable, drawn on a U.S. bank. “Business Day” is defined as 
Monday through Friday, excluding federal holidays. 

a.  By Mail. Mailed payments received by 5 p.m. local time at the location specified on the front of the monthly 
statement after the phrase, “Mail Your Payments To” will be credited as of the date of receipt if: a single 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
 
 
check or money order, not cash, is in the envelope we provide, with the monthly statement payment stub; 
the check or money order is in U.S. dollars and is issued by a financial institution in the United States; and, 
you  follow  the  additional  payment  instructions  provided  on  or  with  the  monthly  statement.  Payments 
received after 5 pm local time but that otherwise meet these requirements will be credited as of the next 
Business Day. 

b.  Online.  Payments  may  be  made  online  using  the  WSFS  online  banking  tool  available  on  our  website.  
These online payments will be credited as of the date received if we receive it by 5 p.m. Eastern Time and 
the payment is in U.S. dollars, drawn on a U.S. financial institution.  Payments received after 5 p.m. but that 
otherwise meet these requirements will be credited as of the next Business Day.  

c.  At  WSFS  Bank  branches.  Payments made by  the  close  of  business at a  WSFS  branch  to  one of our 

employees will be credited as of the date payment is received.  

d.  By Telephone. Payments may be made by calling us at the customer service number located on the front 
of your monthly statement or by visiting the website specified on the front of your monthly statement.  These 
payments will be credited as of the date received if we receive it by 5 p.m. Eastern Time and the payment 
is in U.S. dollars, drawn on a U.S. financial institution.  Payments received after 5 p.m. Eastern Time but 
that otherwise meet these requirements will be credited as of the next Business Day.      

e.  Delay in Crediting and Available Credit. We may reject or delay crediting payments that do not follow the 
instructions above.  For example, there may be a delay of up to five (5) days in crediting a payment by mail 
if it is received at an address other than the address we specify for payments on your monthly statement or 
if it is received without the required payment stub.  Your available credit limit(s) may not reflect the payment 
for up to 15 days after we have credited a payment to your Account. 

5.  Electronic  Check  Conversion.  Each  time  you  send  a  check  as  payment,  you  authorize  us  either  to  use 
information from your check to make a one-time electronic funds transfer from the account on which the check 
is drawn or (at our option) to process the payment as a check transaction. Funds may be withdrawn from your 
bank account as early as the date your check is received and you will not receive your check back from your 
financial institution. If we cannot process the electronic fund transfer, or if it is returned to us, you authorize us 
to reinitiate the electronic fund transfer from your bank account.  Alternatively, we may (at our option) present 
the original  check,  a  substitute  check, draft or similar  negotiable  instrument to obtain  payment.   If you have 
questions about electronic check conversion, you may telephone us at the customer service number located 
on the front of your monthly statement, or write to us at the address for Billing Inquiries and Correspondence 
located on the front of your monthly statement.  

G.  Additional Cards and Authorized Users. 

1.  Unauthorized Use of Your Account. If any Card, Account number, access check, or credit device is lost or 
stolen, or  if  you  think  someone  used  or  may  use  them  without  your  permission,  including use on a  Mobile 
Device, you must notify us immediately by calling the customer service number located on the front of your 
monthly statement. 

2.  Your Liability for Persons Using Your Account. You are liable for: (1) any transactions made by you or an 
Authorized User on your Account; (2) any transactions made by all persons you or any Authorized User allow 
to use your Account by providing access to any of the Card(s), Account number, access check, any other credit 
device, or any other information that would enable a person to conduct transactions that result in any charges 
to your Account for Purchases, Cash Advances or Balance Transfers; and, (3) any interest charges, fees and 
any other charges on your Account resulting from such use.  These transactions are subject to all terms of this 
Agreement.   

You are liable for all of these transactions including, but not limited to, transactions for which you may not have 
intended to be liable, transactions which cause your total outstanding balance to exceed the credit limit, and 
transactions that post after you asked us to remove the Authorized User.  Your Account does not permit you to 
limit the nature or amount of authority you allow a person with access to your Account, and you may not attempt 
to do so. 

3.  Authorized  User.  You  are  responsible  for:  (1)  obtaining  permission  from  each  Authorized  User  before 
requesting that we add that person as an Authorized User on your Account; (2) providing each Authorized User 
with a  copy of this  Agreement and any other Account material  we  send;  and,  (3)  notifying  us  to  remove  an 
Authorized User and retrieving the Card, any access checks and other credit devices from the Authorized User. 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
We have discretion to remove an Authorized User from your Account at any time for any reason as permitted 
by applicable law.  You will remain liable for any transaction(s) the Authorized User makes to your Account.  If 
we remove an Authorized User we will close your Account and issue you a new Card.  

You agree that an Authorized User can have access to limited Account information, including Account balance, 
the Total Minimum Payment Due on your Account, and the amount of the last payment.  An Authorized User 
cannot add other Authorized Users.  Notice to you will be considered notice to you and all Authorized Users.  
We may report information about your Account to credit reporting agencies in the Authorized User’s name that 
may appear on their credit report.  Authorized Users can make payments on your Account.   

H.  Lost or Stolen Cards, Account Numbers or Access Checks. If any Card, Account number or access check is 
lost or stolen, or if you think someone used or may use any of them without your permission, notify us AT ONCE by 
calling the customer service number located on the front of your monthly statement.  You agree that we may close 
your  Account  to new transactions,  change  your  Account number(s)  and  issue  you  a new  Card(s)  with  different 
Account number(s) if we have been notified of the possible loss, theft or unauthorized use.  If we do this, you must 
notify anyone you have authorized to submit and post charges to your Account of your new Account number(s).  Do 
not use your Card or Account number after you notify us, even if your Card is later found or returned.  

Under VISA U.S.A. Inc.’s “Zero Liability Policy” you may not be liable for the unauthorized use of your Account or 
Card  that  results  in  a  fraudulent  transaction  made  over  the  VISA  network.    To  be  eligible,  you  must  notify  us 
immediately of any unauthorized use of your Account or Card.  We will provisionally credit you for losses from the 
unauthorized Card use within five Business Days of your notification to us of the loss. The VISA Zero Liability Policy 
does not apply to transactions made at an ATM or to any transactions made using your PIN that are not processed 
by VISA.  We may impose greater liability, or withhold, delay, limit or rescind any provisional credit that we provide 
to  you  under  the  Zero  Liability  Policy,  based  on  factors  such  as  your  gross  negligence  or  fraud,  your  delay  in 
reporting unauthorized use, our investigation and verification of your claim, your Account standing and history and 
other factors.  If you are not eligible for the VISA Zero Liability Policy or it otherwise does not apply, you may be 
liable for unauthorized use of your Account, but not for more than $50.  You will not be liable for any unauthorized 
use of your Account that occurs after you notify us of the loss, theft or possible unauthorized use of your Card or 
Account number.  We may require you to provide certain information in writing to help us find out what happened.  
You  also  must  identify  for  us  any  charges  on  your  monthly  statement  that  were  not  made  by  you  or  someone 
authorized by you and from which you received no benefit. 

4. 

INTEREST CHARGES. 

A.  Interest  Rates  -  Annual  Percentage  Rates  (APRs).  Annual  Percentage  Rate  or  “APR”  is  a  rate,  shown  as  a 
percentage,  used  to  calculate  interest  charges  on  your  Account.    We  may  use  different  APRs  for  different 
transactions and for promotional rate offers. We use a monthly periodic rate, with a corresponding APR, to calculate 
interest charges on your Account.  To get the monthly periodic rate we divide the APR by 12. You can find your 
APRs and monthly periodic rates for Purchases, Balance Transfers and Cash Advances listed in the Credit Card 
Terms  and  Conditions  document  included  as  part  of  this  Agreement.    The  APRs  for  Purchases  and  Balance 
Transfers vary with the market, based on the U.S. Prime Rate, and are variable.  

B.  Variable APRs. We calculate variable APRs by adding a percentage, called a “Margin”, to an index, which is the 
highest U.S. Prime Rate published in the Money Rates section of The Wall Street Journal on the last publication 
day in each of your Billing Cycles.  The variable APR will increase or decrease each Billing Cycle if the Prime Rate 
changes.  Any change in the variable APR will take effect beginning on the first day of your next Billing Cycle.  This 
new variable APR will apply to existing balances and new transactions that have a variable APR.  If the variable 
APR increases, you will pay a higher interest charge and may pay a higher Total Minimum Payment Due.  If The 
Wall Street Journal stops publishing the U.S. Prime Rate, we may, in our discretion, substitute another index.  
You can find the Margin used for your Purchase APR and for your Balance Transfer APR, and the current U.S. 
Prime Rate in the Credit Card Terms and Conditions document included as part of this Agreement. Each statement 
closing date is the last day of that Billing Cycle. A Billing Cycle begins on the first day following the closing date on 
your last monthly statement, and ends on the statement closing date.  Each monthly statement shows one Billing 
Cycle. 

C.  Introductory and Promotional Rates and Fees. A “Promotional Rate” is an APR applicable to certain qualifying 
new transactions for a specified period of time.  An “Introductory Rate” is a Promotional Rate that may be offered 
in connection with opening your Account. A “Promotional Fee” is a transaction fee applicable to certain qualifying 
new transactions for a specified period of time. An “Introductory Fee” is a promotional fee that may be offered in 
connection with opening your Account.  We may offer Promotional Rates and Promotional Fees on certain specified 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
  
 
 
 
transactions on your Account from time to time.  You can find the Introductory or Promotional APR, as applicable, 
in the Credit Card Terms and Conditions document included as part of this Agreement. 

D.  Paying  Interest. Your  Payment  Due  Date  is at  least 25 days  after  the  close  of each  Billing  Cycle.   We  will not 
charge you any interest on Purchases or Balance Transfers if you pay your entire New Balance by the Payment 
Due Date each month.  If you do not use your Account for Cash Advances, you will not pay interest on Purchases 
if you pay the Total Minimum Payment Due and the total outstanding Purchase balance by the Payment Due Date 
each month.  If you do not use your Account for Cash Advances, you will not pay interest on Balance Transfers if 
you pay the Total Minimum Payment Due and the total outstanding Balance Transfer balance by the Payment Due 
Date each month.   
We  will  begin  charging  interest  on  each  Cash  Advance  on  the  transaction  date  of  such  Cash  Advance.    The 
transaction date for access checks is the date such check is first deposited or cashed.  There is no time period in 
which you may repay a Cash Advance and avoid the imposition of interest charges.  

We will begin charging interest on any unpaid balance of purchase transactions the next business day after the due 
date each month. 

E.  Calculating Interest Charges. We calculate interest charges for a Billing Cycle by multiplying the Balance Subject 
to Interest Rate for each category of transactions by its applicable monthly periodic rate.  The total interest charged 
for a Billing Cycle is the sum of the interest charged for each Balance Subject to Interest Rate.  

F.  Balances  Subject  to  Interest  Rates--  (Average  Daily  Balance  Method  (Excluding  Current  Purchases and 
Balance Transfers)). We calculate Balances Subject to Interest Rate separately for Purchases, Balance Transfers, 
and  for  each  Introductory  or  Promotional  Rate  on  Purchases  and  Balance  Transfers.  To  get  the  average  daily 
balance  we take the beginning  balance  of  your  Account each  day and  subtract any payments,  credits,  and any 
unpaid  interest  charges,  Minimum  Interest  Charges,  Transaction  Fees  and  Account  fees.  We  do  not  add  new 
Purchases or Balance Transfers. If any day’s daily balance is a credit balance we will treat it as a balance equal to 
$0.00. This gives us the daily balance. Then we add up all the daily balances for the Billing Cycle and divide the 
total by the number of days in the Billing Cycle. 

G.  Average Daily Balance Method (Including Current Cash Advances). We calculate Balances Subject to Interest 
Rate for Cash Advances as follows: To get the average daily balance we take the beginning balance of your Account 
each day, add new Cash Advances and subtract any payments, credits, and any unpaid interest charges, Minimum 
Interest Charges, Transaction Fees, and Account fees. If any day’s daily balance is a credit balance we will treat it 
as a balance equal to $0.00. Then we add up all the daily balances for the Billing Cycle, and divide the total by the 
number of days in the Billing Cycle.   

H.  Minimum Interest Charge. If the total interest charges on your Account for a Billing Cycle are less than $2.00, then 
a “Minimum Interest Charge” of $2.00 will be assessed on your Account.  The Minimum Interest Charge is in lieu of 
the interest charges calculated using the monthly periodic rate in that Billing Cycle. 

I.  NOTICE TO MILITARY LENDING ACT COVERED BORROWERS - Statement of MAPR: Federal law provides 
important protections  to  members  of  the Armed  Forces  and  their  dependents  (“Covered Borrowers”)  relating to 
extensions of consumer credit. In general, the cost of consumer credit to a Covered Borrower may not exceed an 
Annual Percentage Rate of 36 percent. This rate must include, as applicable to the credit transaction or account: 
(1) the costs associated with credit insurance premiums; (2) fees for ancillary products sold in connection with the 
credit  transaction;  (3)  any  application  fee  charged  (other  than  certain  application  fees  for  specified  credit 
transactions or accounts); and (4) any participation fee charged (other than certain participation fees for a credit 
card  account).  Oral  Disclosures.  Before  signing  this  Agreement,  in  order  to  hear  important  disclosures  and 
payment information about this Agreement, please contact us at 1-877-332-3305 for information and disclosures 
on protections offered to you under the Military Lending Act. 

5.  FEES. You agree to pay the fees described below whenever applicable. 

A.  Annual Fee. If your Account has an “Annual Fee”, it will be billed each year, whether or not you use your Account. 
If applicable, the amount is listed in the Credit Card Terms and Conditions. Your payment of the Annual Fee does 
not affect our right to close your Account or limit your right to make transactions on your Account. 

B.  Cash Advance (including Cash Equivalents) and Balance Transfer Transaction Fees 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
1.  Cash Advance and Balance Transfer Transaction Fees. We will charge you a transaction fee for each Cash 
Advance (which includes Cash Equivalents) or Balance Transfer equal to the greater of $10 or 3% of the amount 
of the Cash Advance or Balance Transfer. 

2.  Foreign Transaction Fee. We will charge you a transaction fee for each Foreign Transaction equal to 3% of 
the U.S. dollar amount of the Foreign Transaction.  A “Foreign Transaction” is a transaction made in a foreign 
currency, or made outside the United States or made with a foreign merchant, such as on a merchant’s website 
(in either U.S. dollars or a foreign currency).  

C.  Late Payment  Fee. We  will  charge  you a  Late  Payment  Fee  if  we do not  receive  at  least  your  Total  Minimum 
Payment Due on or before its Payment Due Date.  The Late Payment Fee is $27 for the first occurrence and $35 
for any additional occurrence(s) during the next six Billing Cycles; provided, however, that the Late Payment Fee 
will not exceed the Total Minimum Payment Due immediately prior to assessment of the fee. 

D.  Returned Payment Fee. We will charge you a Returned Payment Fee if a payment on your Account is returned 
for any reason.  The Returned Payment Fee is $27 for the first occurrence and $35 for any additional occurrence(s) 
during  the  next  six  Billing  Cycles; provided,  however,  that  the  Returned  Payment  Fee  will  not exceed  the  Total 
Minimum Payment Due immediately prior to assessment of the fee, and will not exceed the amount of the payment 
being returned. 

E.  Other fees. 

1.  Emergency Replacement Card Fee. If you request a replacement Card on an expedited basis (for example, 

to replace a lost or stolen Card), we may charge you an emergency replacement card fee of up to $25. 

2.  Stop Payment Fee. If you ask us to stop payment on an access check, we may charge you a Stop Payment 

Fee of $35. 

6.  DEFAULT. 

A.  Actions that Trigger Default. You will be in default of this Agreement if:  

1. you do not make any required Total Minimum Payment Due by the stated Payment Due Date;  
2. the total outstanding balance on your Account is in excess of your credit limit;  
3. you violate any other term of this Agreement;  
4. you submit a payment that is returned for insufficient funds or any other reason;  
5. you voluntarily file for any form of bankruptcy;  
6. an involuntary bankruptcy action is filed against you;  
7.  you  provide  any  false  or  misleading  information  to  us  at  any  time  in  any  form,  including  written,  verbal,  or 
electronic;  
8. you neglect to provide information in response to any request we make;  
9.  a  court  enters  an  order  declaring  you  to  be  either  temporarily  or  permanently  mentally  incapacitated  or 
incompetent; or  
10. you are deceased. 

B.  Our Rights If You Default. If you default under this Agreement, we may take any and all actions permitted by law 
including,  but  not  limited  to,  requiring  you  immediately  to  pay  the  total  outstanding  balance  on  your  Account, 
suspending your Account until such time as the total outstanding balance has been paid, permanently closing your 
Account, and any other actions provided in this Agreement. 

C.  Collection Costs. You agree to pay us for all collection costs incurred if we refer your Account for collection to any 
external attorney, collection agency, person or entity that is not our salaried employee. Such collection costs include 
all fees permitted by applicable law including, but not limited to, attorneys’ fees, court costs, and collection agency 
fees. 

7.  CLOSING OR SUSPENDING YOUR ACCOUNT.   

A.  Our  Right  to  Close  or  Suspend Your  Account. We  may  close or  suspend  your  Account  at  any  time,  unless 
expressly prohibited  by  applicable  law.   We may do  this  in our discretion,  for any  reason or  for  no  reason, and 
without prior notice. The closure or suspension of your Account does not relieve you of any responsibilities set forth 
in this Agreement.  Upon the closing or suspension of your Account, you remain fully liable for the total outstanding 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
  
 
 
 
 
 
balance on your Account, including all transactions, fees, and interest that accrued prior to closure or suspension 
and any that continue to accrue after your Account has been closed or suspended.  

B.  Your Right to Close your Account. You may close your Account at any time by calling us at the customer service 
number  located  on  the  front  of  your  monthly  statement  or  writing  to  us  at  the  address  for  Billing  Inquiries  and 
Correspondence located on the front of your monthly statement.  Closing your Account does not relieve you of any 
responsibilities set forth in this Agreement.  Specifically, you remain liable for the total outstanding balance on your 
Account, including all transactions, interest, and fees that have accrued on your Account and any that continue to 
accrue after your Account has been closed.     

C.  Account Cannot Be Used After Closed. Once your Account has been closed by us or closed at your request, 
neither  you,  any Authorized  User(s), or  any  person(s)  you  or  any Authorized  User  allow  to use  your Account  is 
allowed to use your Account for any transaction.  Upon closing of your Account, you must: (1) destroy all Cards and 
access  checks and  any  other  credit  devices on your  Account over  which  you have  possession  or  the ability to 
access; (2) cause all Authorized Users to destroy any Cards, access checks and any other credit devices on your 
Account in their possession, and inform them that they must not attempt or make any further transactions on your 
Account; (3) advise all persons you or any Authorized User allow to use your Account, that they must not make or 
attempt or make any further transactions on your Account; and (4) advise all third parties to whom you have given 
permission to make recurring charges on your Account that your Account is closed and they cannot make any future 
charges to your Account.  

You bear sole liability for any legal, financial, or other consequences that may occur after your Account is closed, 
including the failure to have a recurring charge paid in a timely manner.  We are not liable in any way for any legal, 
financial or other consequences that may occur as the result of closing your Account. 

8.  COMMUNICATIONS WITH YOU. 

A.  How We Communicate With You. You agree that we, any of our affiliates, and our successors and assigns and 
any of their or our agents or service providers, (the "Calling Parties") may call you, leave a voicemail for you, 
deliver a prerecorded or artificial voice message or send you a text, e-mail or other electronic communication at 
any telephone number or e-mail address you provide (or have provided or will provide) to any of the Calling 
Parties, or send you a message by physical delivery to any address you provide to us (each, a "Communication").  
You also agree that such Communications may be placed for any non-marketing purpose related to this 
Agreement or any other contract or agreement you have (or have had or will have) with us.  Communications may 
be played by a machine automatically when the telephone is answered, whether answered by you or someone 
else.  You understand that these Communications may also be recorded by your voicemail system.  You 
understand that, when you receive such Communications, you may incur a charge from the company that 
provides you with telecommunications, wireless and/or internet services, and that you will be solely responsible 
for such charges.  You agree that the Calling Parties will not be liable to you for any fees, inconvenience, 
annoyance or loss of privacy in connection with any Communication.  You further understand that anyone with 
access to your telephone or e-mail account may listen to or read the messages, notwithstanding the Calling 
Parties’ efforts to communicate only with you.  If any telephone number you have provided to the Calling Parties 
changes, or if you cease to be the owner, subscriber or primary user of any such telephone number, you agree to 
immediately give any of the Calling Parties notice of such facts so that the Calling Parties may update their 
records.  You understand and agree that, subject to applicable law, the Calling Parties may monitor and/or record 
any and all of your telephone conversations with any of their representatives for training, quality control, 
evidentiary, and any other purposes. However, the Calling Parties are not under any obligation to monitor, record, 
retain, or reproduce such recordings, unless required by applicable law. 

B.  Notices Concerning Your Account. You agree that we may send any and all required notices concerning your 
Account to the physical address provided to us as your billing address.  In addition, if you agree to email notifications, 
then we may send any and all required notices to any email address you provide to us.  Any notices we send to 
you, to your email or billing address, will be deemed sent upon mailing.  

9. 

INFORMATION SHARING. 

A.  Information We Collect and Share. You authorize us to collect information about you as permitted by applicable 
law. We  collect  information from credit  reporting agencies  and other third  parties that have  financial  information 
about you.  You authorize us to share your Account information about you and any Authorized User(s) with our 
affiliates and third parties including credit reporting agencies.  Please see our Privacy Policy, which is enclosed with 
your Account opening material.  It describes the reasons WSFS can share its customers’ personal information.   

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
B.  How  to  Dispute  Reports  Regarding  Your  Account.  If  you  think  the  information  we  furnished  to  consumer 
reporting agencies about you or your Account is not accurate or complete, please write to us at: P.O. BOX 30495 
Tampa, FL 33630.  With your letter, please provide us with: 

•  Your name, address and telephone number; 
•  The Account number(s) for the Account(s) you are disputing; 
•  A description of the specific information you are disputing and an explanation of the basis for your dispute; 

and 

•  Copies of documents that support your dispute. These could include (but are not limited to): a copy of your 
consumer report showing the information that you are disputing, your monthly statements, a court order or 
(if applicable) a copy of a police report or fraud or identity theft affidavit. 

If you fail to provide us with the information listed above, we may be unable to investigate your dispute.  We will 
notify you of the results of our investigation within 30 days of receiving your dispute.  A delay may be experienced 
if the dispute is not mailed to the address above.  We may take up to 45 days to investigate your dispute if, after 
providing us  with  your  initial  notice of dispute,  you provide us  with  additional  information  that  is  relevant  to  our 
investigation.  If our investigation finds that the information you are disputing was inaccurate, we will notify each 
consumer reporting agency(ies) to which we provided the inaccurate information of our determination and provide 
the consumer reporting agency(ies) with the information necessary to correct the inaccuracy.  

We will have no duty to investigate disputes that are substantially similar to a prior dispute that we have responded 
to, or that relate to your identifying information (such as your name, date of birth, Social Security number, telephone 
number(s) or address(es)), inquiries or requests appearing on your consumer report, information from public records 
(such  as  judgments,  liens,  or bankruptcies,  unless  these matters  relate  to  your  Account(s)  with us),  information 
related to fraud or active duty alerts on your report, or information provided to the consumer reporting agency from 
someone  other  than us.   We  will  also have  no  duty to  investigate your  dispute  if  we  reasonably  believe  it  was 
submitted or prepared by (or submitted on a form supplied to you by) a credit repair organization.  If we determine 
that  we  will  not  investigate  your  dispute  for  one  of  these  (or  some  other)  reason(s)  we  will  notify  you  of  that 
determination within five Business Days. 

10.  Miscellaneous. 

A.  Account Benefits. We may offer you certain third-party benefits and services with your Account, as outlined in 
benefits brochures or other documents and internet web sites. For example, certain eligible purchases charged with 
a VISA® Card may be eligible for certain benefits or services through VISA U.S.A. Inc. (or its affiliates).  Any benefits 
or services we make available through third parties (including without limitation VISA U.S.A. Inc.) are not a part of 
this Agreement, but are subject to the terms and restrictions outlined in the applicable benefits brochures or other 
documents or internet web sites provided or made available to you from time to time.  You agree that we may give 
information about you, any Authorized User, and your Account, to any third party reasonably needing the information 
to provide you with such benefits or services.  You also agree that we or any third party providing any Account-
related benefits or services may change, add, or delete benefits or services at any time without notice to you. 

B.  Enforcing this Agreement; Severability. We may delay or waive enforcing any of our rights or exercising any of 
our remedies under this Agreement or under applicable law without losing any of those rights or remedies. Even if 
we do not enforce our rights or exercise our remedies at any one time, we may enforce or exercise them at a later 
time.   If any  provision of  this Agreement  is found to  be  invalid or unenforceable, it  shall not affect  or  impair  the 
validity and enforceability of all remaining provisions of this Agreement.   

C.  Headings.  We  use  headings  in  this  Agreement  (e.g.,  Account  Use  and  Acceptance)  for  convenience  and 

organization.  They are for reference purposes only and do not impact the meaning of the provisions.   

D.  Assignment; Sale of Account. We may at any time, and without notice to you, sell, assign or transfer your Account, 
any  amounts  due  on  your  Account,  this  Agreement,  or  our  rights  or  obligations  under  your  Account  or  this 
Agreement to any person or entity.  The person or entity to whom we make any such sale, assignment or transfer 
shall  be  entitled  to  all  of our  rights  and  shall assume  our  obligations under  this Agreement, to  the extent  sold, 
assigned  or  transferred. You may  not  sell, assign  or  transfer your Account  or  any  of your obligations under  this 
Agreement.  

E.  No Security. Your Account is unsecured. We are not taking a security interest in any property in connection with 

your Account.  

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
 
 
 
F.  Evidence. You agree that we may use a copy, microfilm, microfiche or digital image of any monthly statement or 
other document to prove what you owe us and that the copy, microfilm, microfiche or digital image will have the 
same validity as the original.  

G.  Entire  Agreement.  The  Agreement  is  the  entire agreement between  you  and us  relating to  your  Account.   The 
Agreement replaces any other agreement relating to your Account that you and we made earlier or at the same 
time.  In the event of a conflict between this Credit Card Agreement and any other document (including the other 
documents  that are  collectively  called  the Agreement),  this  Credit  Card  Agreement  will  control  unless otherwise 
expressly provided in the other document. 

H.  Cardholder: Your name, address and signature (including any electronic or digital signature) and the date on any 
application or solicitation or on any sales slip or other evidence of indebtedness on your Account represents your 
name, address and signature and the date on this Agreement. 

11.  Arbitration Provision. 

THIS ARBITRATION PROVISION DOES NOT APPLY TO SERVICE MEMBERS AND THEIR DEPENDENTS WHO 
ARE ENTITLED TO PROTECTION UNDER THE MILITARY LENDING ACT (10 U.S.C. § 987). IF YOU WOULD LIKE 
MORE  INFORMATION  ABOUT  WHETHER  YOU  ARE  ENTITLED  TO  PROTECTION  UNDER  THE  MILITARY 
LENDING ACT AND WHETHER THIS ARBITRATION PROVISION APPLIES TO YOU, PLEASE CONTACT US AT 
1-888-WSFS-Bank. 

PLEASE READ THIS ARBITRATION PROVISION CAREFULLY.  IF YOU DO NOT REJECT THIS ARBITRATION 
PROVISION IN ACCORDANCE WITH SUBPARAGRAPH A., BELOW, IT WILL REMAIN PART OF THIS 
AGREEMENT AND HAVE A SUBSTANTIAL IMPACT ON THE WAY YOU OR WE WILL RESOLVE ANY CLAIM 
THAT YOU OR WE HAVE AGAINST EACH OTHER, NOW OR IN THE FUTURE.  FOR EXAMPLE, IF YOU DO 
NOT REJECT THIS ARBITRATION PROVISION, WE CAN REQUIRE INDIVIDUAL ARBITRATION OF LEGAL 
DISPUTES BETWEEN YOU AND US REGARDING THE ACCOUNT, AS SET FORTH BELOW, AND YOU WILL 
NOT HAVE THE RIGHT TO BRING OR PARTICIPATE IN ANY CLASS ACTION OR SIMILAR PROCEEDING IN 
COURT OR IN ARBITRATION. 

A. Your Right to Reject: If you do not want this Arbitration Provision to apply, you may reject it by sending us a 
written rejection notice which gives your name(s) and Account number(s) and contains a statement that you (both or 
all of you, if more than one) reject the Arbitration Provision in the agreement governing your Account(s).  The rejection 
notice must be sent to us by certified mail, return receipt requested, to WSFS Bank, Marketing Department, 500 
Delaware Avenue, Wilmington, DE 19801, Attn: Arbitration Rejection.  Upon receipt of a rejection notice, we will credit 
your Account for the standard cost of a certified letter.  A rejection notice is only effective if it is signed by you (both or 
all of you, if more than one) and if we receive it within thirty (30) days after the day (i) you open your Account or (ii) 
you become a WSFS Bank customer (such as when you become a WSFS Bank customer through a branch purchase 
or merger of your prior bank into WSFS Bank).  

B. Parties Subject to Arbitration; Certain Definitions: Solely as used in this Arbitration Provision: (1) the terms 
“we,” “us” and “our” include: (i) Wilmington Savings Fund Society, FSB (“WSFS Bank”); its parents, subsidiaries and 
affiliates; their successors; and the employees, officers, directors and controlling persons of all such companies and 
banks (the “Bank Parties”); and (ii) any other person or company who provides any services in connection with the 
Account if you assert a Claim against such other person or company in connection with a Claim you assert against 
any Bank Party; and (2) the terms “you” and “your” include: (i) each Account holder and Authorized User, and each of 
their heirs, successors, representatives and beneficiaries; and (3) the term “Account” includes the Account 
established by this Agreement and any updated or substitute Account for the same Account holders.  

C. Covered Claims: Solely as used in this Arbitration Provision: “Claim” means any claim, dispute or controversy 
between you and us that in any way arises from or relates to this Agreement, your Account, any other Account 
disclosures, any prior Agreement or account, any Card, any Account transaction or attempted transaction, and any of 
the advertising, disclosures, practices, procedures and agreements related to the foregoing. “Claim” includes disputes 
arising from actions or omissions prior to the date of this Agreement (or prior to the time this Arbitration Provision 
becomes part of this Agreement). “Claim” has the broadest reasonable meaning, and includes initial claims, 
counterclaims, cross-claims and third-party claims.  It includes disputes based upon contract, tort, consumer rights, 
fraud and other intentional torts, constitution, statute, regulation, ordinance, common law and equity (including any 
claim for injunctive or declaratory relief).  However, it does not include any dispute about the validity, 
enforceability, coverage or scope of this Arbitration Provision or any part thereof (including, without 
limitation, subparagraph G., captioned “Prohibition Against Certain Proceedings” (the “Class Action 
Waiver”), the final sentence in subparagraph M., captioned “Severability,” and/or this sentence); all such 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
 
disputes are for a court and not an arbitrator to decide.  Notwithstanding the foregoing, the term “Claim” includes 
any dispute about the validity or enforceability of this Agreement as a whole.  Moreover, this Arbitration Provision will 
not apply to any Claims that are the subject of a class action that is pending as of the effective date of this Arbitration 
Provision in which you are alleged to be a member of the putative class for as long as such class action is pending.  

D. Arbitration Procedures: Upon the demand of you or us, Claim(s) will be resolved by individual (not class or class-
wide) binding arbitration in accordance with the terms specified in this Arbitration Provision.  If you or we elect to 
arbitrate a Claim, the electing party must notify the other party in writing.  This notice can be given after the beginning 
of a lawsuit and can be given in papers filed in the lawsuit.  Otherwise, your notice must be sent to WSFS Bank, 500 
Delaware Avenue, Wilmington, DE 19801, Attn: General Counsel, and our notice must be sent to the address for you 
in our files.  If a party files a lawsuit in court asserting Claim(s) that are subject to arbitration and the other party files a 
motion to compel arbitration with the court which is granted, it will be the responsibility of the party prosecuting the 
Claim(s) to select an arbitration administrator in accordance with the paragraph below and commence the arbitration 
proceeding in accordance with the administrator’s rules and procedures.  We will not demand to arbitrate an individual 
Claim that you bring against us in small claims court or your state’s equivalent court, if any.  But if that Claim is 
transferred, removed or appealed to a different court, we then have the right to demand arbitration.  

E. Choosing the Administrator: “Administrator” means the American Arbitration Association (“AAA”), 1633 
Broadway, 10th Floor, New York, NY 10019, www.adr.org.; JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 
10018, www.jamsadr.com; or any other company selected by mutual agreement of the parties.  If both AAA and 
JAMS cannot or will not serve and the parties are unable to select an Administrator by mutual consent, the 
Administrator or arbitrator will be selected by a court.  The arbitrator will be appointed by the Administrator in 
accordance with the rules of the Administrator.  However, the arbitrator must be a retired or former judge or a lawyer 
with at least 10 years of experience.  The party initiating arbitration may select the Administrator by filing a Claim with 
the Administrator of that party’s choice.  Notwithstanding any language in this Arbitration Provision to the contrary, no 
arbitration may be administered, without the consent of all parties to the arbitration, by any Administrator that has in 
place a formal or informal policy that would allow or require any dishonor of the Class Action Waiver.  

F. Court and Jury Trials Prohibited; Other Limitations on Legal Rights: YOU WILL NOT HAVE THE RIGHT TO 
PURSUE A CLAIM SUBJECT TO ARBITRATION IN COURT OR HAVE A JURY DECIDE THE CLAIM.  ALSO, 
YOUR ABILITY TO OBTAIN INFORMATION FROM US IS MORE LIMITED IN AN ARBITRATION THAN IN A 
LAWSUIT.  OTHER RIGHTS THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO NOT BE 
AVAILABLE IN ARBITRATION. 

G. Prohibition Against Certain Proceedings: NOTWITHSTANDING ANY OTHER LANGUAGE IN THIS 
ARBITRATION PROVISION TO THE CONTRARY, FOR CLAIMS SUBJECT TO ARBITRATION: (1) YOU MAY 
NOT PARTICIPATE IN A CLASS ACTION IN COURT OR IN A CLASS-WIDE ARBITRATION, EITHER AS A 
PLAINTIFF, CLASS REPRESENTATIVE OR CLASS MEMBER; (2) YOU MAY NOT ACT AS A PRIVATE 
ATTORNEY GENERAL IN COURT OR IN ARBITRATION; (3) CLAIMS BROUGHT BY OR AGAINST YOU MAY 
NOT BE JOINED OR CONSOLIDATED WITH CLAIMS BROUGHT BY OR AGAINST ANY OTHER PERSON; AND 
(4) THE ARBITRATOR SHALL HAVE NO POWER OR AUTHORITY TO CONDUCT A CLASS-WIDE 
ARBITRATION, PRIVATE ATTORNEY GENERAL ARBITRATION OR MULTIPLE-PARTY ARBITRATION OR TO 
GRANT ANY RELIEF THAT APPLIES TO ANY PERSON OTHER THAN YOU AND US INDIVIDUALLY.  This Class 
Action Waiver does not limit the right of a state or federal authority to pursue a lawsuit against us, even if the lawsuit 
seeks relief on behalf of you and other customers; we will not have the right to compel arbitration of any such claim.  

H. Location and Costs of Arbitration: Any arbitration hearing that you attend must take place in a venue reasonably 
convenient to where you reside.  At your written request, we will pay all filing, hearing and/or other fees charged by 
the Administrator and arbitrator to you for Claim(s) asserted by you in an individual arbitration after you have paid an 
amount equivalent to the fee, if any, for filing such Claim(s) in state or federal court (whichever is less) in the judicial 
district in which you reside. (If you have already paid a filing fee for asserting the Claim(s) in court, you will not be 
required to pay that amount again).  In addition, the Administrator may have a procedure whereby you can seek a 
waiver of fees charged to you by the administrator and arbitrator.  We will always pay any fees or expenses that we 
are required to pay by law or the Administrator’s rules or that we are required to pay for this Arbitration Provision to be 
enforced.  The arbitrator will have the authority to award fees and costs of attorneys, witnesses and experts to the 
extent permitted by this Agreement, the Administrator’s rules or applicable law.  However, with respect to Claim(s) 
asserted by you in an individual arbitration, we will pay your reasonable attorney, witness and expert fees and costs if 
and to the extent you prevail, if applicable law requires us to or if we must bear such fees and costs in order for this 
Arbitration Provision to be enforced. 

I. Governing Law: This Arbitration Provision involves interstate commerce and is governed by the Federal Arbitration 
Act (“FAA”) and not by any state arbitration law, provided that Delaware law shall be applicable to the extent that any 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
state law is relevant in determining the enforceability of this Arbitration Provision under Section 2 of the FAA.  The 
arbitrator must apply applicable substantive law consistent with the FAA and the same statutes of limitations and 
privileges that a court would apply if the matter were pending in court.  The arbitrator may award any remedy provided 
by the substantive law that would apply if an individual action were pending in court, including, without limitation, 
punitive damages (which shall be governed by the Constitutional standards employed by the courts), injunctive, 
equitable and declaratory relief.  The arbitrator only has authority to award relief in your or our favor (and not in favor 
of any other person) and only to the extent necessary to provide relief warranted by your or our individual claim (and 
not any kind of broader or class-wide relief).  At the timely request of either party, the arbitrator must provide a brief 
written explanation of the basis for the award.  

J. Right to Discovery: In addition to the parties’ rights to obtain discovery pursuant to the arbitration rules of the 
Administrator, either party may submit a written request to the arbitrator to expand the scope of discovery normally 
allowable under such rules.  The arbitrator shall have discretion to grant or deny that request.  

K. Arbitration Result and Right of Appeal: Judgment upon the arbitrator’s award may be entered by any court 
having jurisdiction.  The arbitrator’s decision is final and binding, except for any right of appeal provided by the FAA.  
However, if the amount of the Claim exceeds $50,000, any party can, within 14 days after the entry of the award by 
the arbitrator, appeal the award to a three-arbitrator panel administered by the Administrator.  The panel shall 
reconsider anew any aspect of the initial award requested by the appealing party.  The decision of the panel shall be 
by majority vote.  Unless the parties agree otherwise, and to the extent feasible, the appeal will be conducted 
pursuant to or modeled after the JAMS Optional Appeal Procedure, available at https://www.jamsadr.com/appeal/.  
Reference in this Arbitration Provision to “the arbitrator” shall mean the panel if an appeal of the arbitrator’s decision 
has been taken.  The costs of such an appeal will be borne in accordance with subparagraph H., above, captioned 
“Location and Costs of Arbitration.”  Any final decision of the appeal panel is subject to judicial review only as provided 
under the FAA. No arbitration award involving the parties will have any preclusive effect as to issues or claims in any 
dispute involving anyone who is not a party to the arbitration, nor will an arbitration award in prior disputes involving 
other parties have preclusive effect in an arbitration between the parties to this Arbitration Provision. 

L. Rules of Interpretation: This Arbitration Provision shall survive the closing of the Account, any legal proceeding 
and any bankruptcy to the extent consistent with applicable bankruptcy law.  In the event of a conflict or inconsistency 
between this Arbitration Provision, on the one hand, and the applicable arbitration rules or the other provisions of this 
Agreement, on the other hand, this Arbitration Provision shall govern.  

M. Severability: If any portion of this Arbitration Provision is deemed invalid or unenforceable, the remaining portions 
shall nevertheless remain in force, except that (A) if in connection with any Claim a determination is made that the 
Class Action Waiver is unenforceable, only this sentence of the Arbitration Provision will remain in force and the 
remaining provisions shall be null and void, provided that the determination concerning the Class Action Waiver shall 
be subject to appeal, and (B) if a Claim is brought seeking public injunctive relief and a court determines that the 
restrictions in the Class Action Waiver or elsewhere in this Arbitration Provision prohibiting the arbitrator from 
awarding relief on behalf of third parties are unenforceable with respect to such Claim (and that determination 
becomes final after all appeals have been exhausted), the Claim for public injunctive relief will be determined in court 
and any individual Claims seeking monetary relief will be arbitrated.  In such a case the parties will request that the 
court stay the Claim for public injunctive relief until the arbitration award pertaining to individual relief has been 
entered in court.  In no event will a Claim for public injunctive relief be arbitrated. 

N. Notice and Cure; Special Payment: Prior to initiating a Claim, you may send us a written Dispute Claim Notice.  
In order for a Dispute Claim Notice to be valid and effective, it must: (1) state your name, address and Account 
number; (2) be signed by you; (3) describe the basis of your Claim and the amount you would accept to resolve the 
Claim; (4) state that you are exercising your rights under the “Notice and Cure” paragraph of the Arbitration Provision; 
and (5) be sent to us by certified mail, return receipt requested, at WSFS Bank, Legal Department, 500 Delaware 
Avenue, Wilmington, DE 19801, Attn: Dispute Claim Notice.  This is the only method by which you can submit a 
Dispute Claim Notice.  You must give us a reasonable opportunity, not less than 30 days, to resolve the Claim.  If, and 
only if, (i) you submit a Dispute Claim Notice in accordance with this paragraph on your own behalf (and not on behalf 
of any other party); (ii) you cooperate with us by promptly providing the information we reasonably request; (iii) we 
refuse to provide you with the relief you request before an arbitrator is appointed; and (iv) the matter then proceeds to 
arbitration and the arbitrator subsequently determines that you were entitled to such relief (or greater relief), you will 
be entitled to a minimum award of at least $7,500 (not including any arbitration fees and attorneys’ fees and costs to 
which you will also be entitled).  We encourage you to address all Claims you have in a single Dispute Claim Notice 
and/or a single arbitration.  Accordingly, this $7,500 minimum award is a single award that applies to all Claims you 
have asserted or could have asserted in the arbitration, and multiple awards of $7,500 are not contemplated. 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020 

 
 
 
 
 
 
 
O. Amendment; Waiver; Etc. Notwithstanding any language in this Agreement to the contrary, we will not attempt to 
apply any amendment to this Arbitration Provision without your written consent if and to the extent that the 
amendment would affect the litigation or arbitration of any Claim that has been the subject of a prior Dispute Claim 
Notice.  However, this will not limit our power to waive any right we would otherwise have nor our power to afford you 
any additional right with respect to this Arbitration Provision. 

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                  ©2020 Wilmington Savings Fund Society, FSB ǀ NMLS# 417673 | Member FDIC                                 IFN: I003694, Revised: July, 2020