Terms and Conditions for Early Release of Funds
1- Early Release of Funds.
The User may make all or a portion of the Funds credited to the User’s Account available early, ahead of the deadlines therefor set by Mercado Pago, by requesting an early release of Funds, to be accepted at Mercado Pago’s sole discretion (“Early Release of Funds”). An Early Release of Funds shall be subject to Mercado Pago’s Terms and Conditions of Use, except for matters specifically addressed in these Terms and Conditions.
2- Request for Early Release of Funds.
In the event that there are unavailable funds in the User’s Account, the User may request from Mercado Pago an Early Release of Funds through such account. Mercado Pago may, at any time and at its sole discretion, fully or partially reject such request without cause. Once a request has been received, Mercado Pago will inform the User of: (i) the amount of funds that may be made available on Early Release at that time and in subsequent days (“Released Funds”), and (ii) the cost of the Early Release of Funds requested by the User. Moreover, also at its sole discretion, Mercado Pago may offer the User an option to keep the Released Funds in the User’s Account or have them automatically transferred to a bank account indicated by the User. In the latter case, the Released Funds will be transferred to such bank account no later than the banking day immediately following the request for the Early Release of Funds. Should the User choose to keep the Released Funds in the User’s Account to be transferred to a bank account at a later date, such transfer will take place within the time periods prescribed in Mercado Pago’s Terms and Conditions of Use.
3- Cost of an Early Release of Funds.
As consideration for an Early Release of Funds, the User shall pay Mercado Pago an amount equal to a fixed percentage of the Released Funds plus any applicable taxes. Mercado Pago shall deduct such costs off the User’s Released Funds.
4- Cancellations, annulments, repudiated charges, reversals, and chargebacks.
Should the Released Funds relate to a transaction that is cancelled, annulled, reversed and/or the subject of chargebacks after the Released Funds have been withdrawn or used, Mercado Pago shall deduct off and debit from the User’s Account a sum equal to the Released Funds. The User expressly authorizes Mercado Pago to deduct off and debit from the User’s Account such Funds as may be necessary to cover that cancellation, annulment, repudiation, reversal and/or chargeback, and, should sufficient funds not be available, to debit such Funds off any future Funds credited to the User’s account, without prejudice to any other rights of Mercado Pago as provided for in Mercado Pago’s Terms and Conditions of Use.