To be eligible to use Paystand, you must be at least 18 years old and located in the United States of America. You represent and warrant that you are at least 18 years old and that all registration information you submit is accurate and truthful. Paystand may, in its sole discretion, refuse to offer the Service to any person or entity and change its eligibility criteria at any time. This provision is void where prohibited by law and the right to access the Service is revoked in such jurisdictions.
The Service enables Merchants to incorporate payment functionality in online stores through which they sell their products and services. Paystand provides the Service to Merchants to facilitate receipt by Merchants of payments by card or bank transfer which are made by Merchant’s customers (“Purchasers”). Transactions are solely between Merchants and Purchasers, and Paystand is not a party to these transactions. Paystand is not a bank, money transmitter, or Money Services Business (“MSB”), and we do not offer banking or MSB services as defined by the United States Department of Treasury.
Card payments are initiated by providing information to a payment processor and/or a bank (the “Bank”) that is a member of a credit or other payment card network, association, or company, (collectively, the “Networks”). Bank transfer payments are initiated by providing information to the Bank via bank-to-bank exchange or through the National Automated Clearing House (“ACH”).
Paystand collects, analyzes and transmits information about you and your transactions in connection with payments between Purchasers and Merchants. You authorize Paystand to provide this information to the Bank in order for the Bank to facilitate payments from Purchasers to Merchants through the Networks and/or the ACH. Paystand does not hold, own or control funds in connection with the Services, nor does Paystand transmit money or monetary value. In connection with the Services, Paystand does not actually or constructively receive, take possession of or hold any money or monetary value for transmission, and does not advertise, solicit or hold itself out as receiving money for transmission. The Bank is the party with sole responsibility for conducting the settlement of funds between Purchasers and Merchants.
Paystand may enter into agreements with the Networks, processors and the Bank, from time to time. You are not a third-party beneficiary of these agreements. Each of the Networks, processors and the Bank is a third-party beneficiary of this Agreement and has beneficiary rights, but not obligations, and may enforce this Agreement against you. Some of these third parties may require a direct agreement with you. If you are required to enter into such an agreement and decline to do so, we may suspend or terminate your Account.
To the extent that the Bank has any obligations to pay Merchants, such obligations are governed by (a) the provisions of the Bank’s agreement with Paystand, and (b) the by-laws, operating regulations and all other rules, policies and procedures of the Networks as are in effect at any time (the “Network Regulations”). Paystand or the Bank will pay out funds settling from the Networks to the designated bank settlement account you provided when establishing your Paystand Account (“Bank Account”) in the amounts actually received (less our Fees, as defined below) for card transactions submitted via the Service. The Bank Account must be verified and located at bank branch in the United States and held in the name of the Merchant’s business. You are responsible for the accuracy and correctness of information regarding your Bank Account. Funds for any given transaction will not be transferred to your Bank Account until the transaction is deemed complete. Transactions will be deemed complete when we have received funds settling from the Networks and when we or our processing financial institutions have accepted such funds. The actual timing of the transfers to your Bank Account of the settling funds will be subject to the Payout Schedule (as defined below).
The Service may permit you to link to other websites or resources on the Internet, and other websites or resources may contain links to the Sites. When you access third party websites, you do so at your own risk. These other websites are not under Paystand’s control, and you acknowledge that Paystand is not responsible or liable for the content, functions, accuracy, legality, appropriateness or any other aspect of such websites or resources. The inclusion of any such link does not imply endorsement by Paystand or any association with its operators. You further acknowledge and agree that Paystand shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services available on or through any such third-party website or resource.
License to Site Content.
For purposes of this Agreement, “Content” includes, without limitation, any advertisements, advice, suggestions, videos, audio clips, written forum comments, information, data, text, photographs, software, scripts, graphics, and interactive features generated, provided, or otherwise made accessible by Paystand or its partners on or through the Service. You agree that the Service contains Content specifically provided by Paystand or its partners and that such Content is protected by copyrights, trademarks, service marks, patents, trade secrets or other proprietary rights and laws. You shall abide by all copyright notices, information, and restrictions contained in any Content accessed through the Service. You shall not sell, license, rent, modify, distribute, copy, reproduce, reverse engineer, transmit, publicly display, publicly perform, publish, adapt, edit, create derivative works from, or otherwise exploit any Content or third-party submissions or other proprietary rights not owned by you, (a) without the consent of the respective owners or other valid right, or (b) in any way that violates any third-party right.
You may, to the extent the Sites expressly authorize you to do so, download or copy the Content, and other items displayed on the Sites for download, for personal, non-commercial use only, provided that you maintain all copyright and other notices contained in such Content. You shall not store any significant portion of any Content in any form. Copying or storing of any Content for any reason other than personal, noncommercial use is expressly prohibited without prior written permission from Paystand, or from the copyright holder identified in such Content’s copyright notice.
In order to access Paystand’s Services, you will be required to create an account on the Services (“Account” or “Paystand Account”) and provide certain registration information. When creating your Account, you agree to (a) provide accurate, truthful, current and complete information when creating your Account; and (b) maintain and promptly update your Account information. You may be required to provide us with information and documentation including, but not limited to, your email address, a self-selected password, street address, telephone number, tax identification number (such as Social Security Number), date of birth, articles of incorporation, financial statements, passports, driver's license or a business license. By accepting the terms of this Agreement, you authorize us to retrieve information such as credit history, address history, and other data about you by using third parties, including credit bureaus and other information providers. You authorize Paystand, directly or through third parties, to make inquiries or verify that this information is accurate, and specifically authorize us to perform a background check. If we cannot verify that the information provided by you is complete and accurate, we may deny your use of our Service, or close your Account. We reserve the right to suspend or terminate the Account of anyone who provides inaccurate, untrue, or incomplete information, or who fails to comply with the account registration requirements. After we have collected and verified all your information, Paystand will review your Account and determine if you are eligible to use the Service. We may periodically update the information we collect about you to determine whether you continue to meet our eligibility requirements. At any time, we may conclude that you are not permitted to use (or continue to use) the Services, in our sole discretion.
We may share some or all of the information about your and your transactions with our processor, the Networks, the Bank, and our other partners (and our and their respective affiliates, agents, subcontractors, and employees). Anyone that we share information with may use the information to perform their obligations under their agreements with us, to operate and promote their respective networks, to perform analytics and create reports, to prevent fraud, and for any other lawful purpose. Any of our partners may also make eligibility determinations and conclude that you are not permitted to use the Services.
Each Account must be linked to a verified Bank Account.
Paystand charges fees to Merchants using the Service (the “Fees”). Paystand may also charge Merchants Fees for exceptions processing, such as when a Merchant receives a Chargeback (as defined below). In addition, Merchant agrees to pay Paystand the Fees that may be set forth on the Site and/or Services from time to time. All Fees are stated in U.S. dollars. You shall pay all applicable Fees, as described on the Site in connection with the applicable Services. Rather than collecting payments directly from Merchants, to the extent permitted by law, the Bank may withhold these Fees (and any other obligations you may owe us) on our behalf from payments received by Merchant (e.g., from Purchasers). In addition, we may deduct any applicable Fees from your Reserve Account (as defined below). Card fees will be assessed as the interchange data is received by our banking partners and networks. Your qualified card (b2b level 3, ecommerce basic, card present, regulated debit, and non-profit) rate is included in your contract. A 25bps assessment is added for tier 2 cards (b2b level 2, card not present basic cards, unregulated debit, basic rewards cards). An additional 50bps assessment is added for tier 3 (commercial and consumer premium cards). Finally, an additional 50 bps assessment is added for tier 4 (high tier commercial cards and AMEX when settled by Paystand). These rates are applicable to Visa, MasterCard, Discover, Diners Club, and JCB. Depending on merchant agreement, AMEX cards will either be processed at the tier 4 card rate, or through AMEX directly with a merchant identification number. Fees for bank to bank transactions, and ach are defined in your contract and will also be assessed as they are received directly from the related banking networks. If the transaction settlement amounts or Reserve Account are not sufficient to meet your obligations to us, we may charge or debit your Bank Account or any credit card registered in your Account for any amounts owed to us. Your failure to fully pay amounts that you owe us on demand will be a breach of this Agreement. You will be liable for our costs associated with collection in addition to the amount owed, including without limitation attorneys’ fees and expenses, costs of any arbitration or court proceeding, collection agency fees, and any applicable interest.
Paystand does not provide refunds. You represent to Paystand that you are the authorized account holder or an authorized user of the chosen method of payment used to pay for the paid aspects of the Services. In addition, you are responsible for providing, at your own expense, all equipment necessary to use the Services, including a computer, modem, and Internet access (including payment of all fees associated with such access).
You will not impose any tax, fee, or surcharge on any transaction that a Purchaser seeks to make with an eligible payment card. Subject to the terms of this Agreement, Paystand reserves the right to change its Fees. By continuing to use the Service following any such change, you consent to the change in Fees. If you do not consent, as your sole remedy, you may close your Account and cease to use the Services.
Purchasers may register with Paystand. Whether or not a Purchaser registers, however, their use of the Service is governed by the terms of this Agreement. You agree that, as a Purchaser, you are responsible for reading the full description of any good, service or other item promoted by a Merchant via the Services (“Merchandise”), including any terms and conditions applicable to the receipt of such Merchandise (“Seller Terms”), before committing to make any purchase or donation via the Services to any Merchant. When you make a purchase or donation via the Services, you enter into a legally binding contract with the applicable Merchant to complete such purchase or donation and to receive any Merchandise subject to the Seller Terms. You agree to look solely to the applicable Merchant to resolve all questions and disputes regarding any purchases or donations you make to a Merchant via the Services. Paystand is not responsible for resolving any disputes between Purchasers and Merchants.
Prohibited Activities; Compliance; Restrictions
In connection with your use of the Paystand Services, you agree at all times to comply with Paystand’s Acceptable Use Policy which is hereby incorporated into this Agreement by this reference. Paystand reserves the right to terminate your account and block or prevent future access to, and use of, the Paystand Services for any violation of these Terms or the Acceptable Use Policy.
The Networks have established the Network Regulations and the ACH has established guidelines, bylaws, rules, and regulations (the “ACH Rules”). You are required to comply with all Network Regulations and ACH Rules that are applicable to Merchants. You can review portions of the Network Regulations at Visa and MasterCard. The Networks and the ACH reserve the right to amend the Network Regulations and/or the ACH Rules, as applicable, at any time.
You are responsible for maintaining the secrecy and security of your Account access credentials and for any use of or action taken thereunder. You shall: (a) maintain the security of your Account by not sharing your password with others and restricting access to your Account on your computer or mobile device; (b) promptly notify Paystand if you discover or otherwise suspect any security breaches related to the Paystand Service; and (c) take responsibility for all activities that occur under your Account and accept all risks of unauthorized access.
As a Merchant, you may not use the Services to post or link to any Merchandise that: (i) infringes any third-party intellectual property rights (including copyright, trademark, patent and trademark secrets) or other proprietary rights (including rights of publicity or privacy); (ii) constitutes libel or slander or is otherwise defamatory; or (iii) is counterfeited, illegal, stolen, or fraudulent. If Paystand discovers that any information or content provided by you is inaccurate, false, or misleading we reserve the right to immediately remove such information or content at our sole discretion.
If Paystand determines that you have received funds resulting from fraud or any prohibited activity (including, without limitation, any activities that violate any provision of this Agreement), those funds may be frozen, returned to the Purchaser, or seized.
In addition, if we reasonably suspect that your Account has been used for an unauthorized, illegal, or criminal purpose, you hereby authorize Paystand to share information about you, your Account, your access to the Services, and any of your transactions with law enforcement or other governmental or regulatory entities.
Responsibility for Merchant Products & Services
Merchants will provide a receipt to each Purchaser at the conclusion of each purchase transaction that includes all information required under the Network Regulations, the ACH Rules, and applicable law. You agree to provide clear and conspicuous notice to Purchasers of any Seller Terms. The Seller Terms applicable to any Merchandise will form a contract between you and any Purchaser who makes a payment or donation to you that entitles such Purchaser to any Merchandise. In delivering any Merchandise, you will not require any payments or impose any conditions that were not disclosed in the Seller Terms. You agree that any Merchandise you promote will not breach any agreements you have entered into with any third parties.
You are solely responsible for: (a) promptly fulfilling any order for Merchandise purchased by any Purchaser in accordance with the Seller Terms; (b) collecting and remitting any value added, use, sales or other transfer taxes owed to any national, state, or local taxing authorities in connection with the sale of any Merchandise; (c) resolving any disputes with Purchasers regarding any purchased Merchandise, including any Chargebacks or refunds; and (d) any and all injuries, illnesses, damages, claims, liabilities and costs suffered by you or any Purchaser that purchases your Merchandise, which are caused in whole or in part by you or your Merchandise.
You, and you alone, are responsible for providing your products and services to Purchasers for any and all issues related to your products and services, including but not limited to issues arising from the processing of Purchasers’ cards through the Service. You agree not to disguise, hide or otherwise misrepresent the number or character of the products and services that you offer on or through your store through use of any features of the Services or Software or otherwise.
You will accept and honor all eligible cards presented for payment by Purchaser for your Merchandise in accordance with the Network Regulations, this Agreement and any other applicable operating guides or regulations. You agree that you will obtain an authorization from the Networks for each payment card transaction, as required under the Network Regulations, and will not submit a card transaction for settlement where there is a negative authorization or the card is otherwise expired. You acknowledge that the existence of an affirmative authorization from us or the Networks does not mean that a particular card transaction will not be subject to Chargeback, Reversal or Claim (as those terms are defined below) at a later date.
You hereby authorize the Bank to hold, receive, disburse and settle funds on your behalf, including generating a paper draft or electronic funds transfer to process each payment transaction that you authorize. Subject to this Agreement, you also authorize the Bank to debit or credit any payment card or other payment method we accept. In addition, you authorize the Bank to initiate electronic ACH entries to each Bank Account for which you input routing number and account number on the Site, and to initiate adjustments for any transactions credited or debited in error. You agree to be bound by the ACH Rules, and you agree that all ACH transactions that you initiate will comply with all applicable law. Your authorization will remain in full force and effect until your Account is closed or terminated.
Paystand supports most domestic and international credit, debit, prepaid or gift cards with a Visa, MasterCard, American Express or Discover logo. We will only process card transactions that have been authorized by the applicable Network or card issuer. We may add or remove support for certain payment cards at any time without prior notice. You agree to accept all of the cards issued by Networks that Paystand supports in accordance with the terms of this Agreement.
Paystand also supports payments via ACH from U.S.-based Purchasers with a U.S. bank account. At our discretion, Paystand may conduct verification checks on Purchasers to ensure account ownership and sufficient balance, and we may refuse to process payments from Purchasers at any time.
The “Payout Schedule” is the amount of time it takes for us to initiate a transfer to your designated bank account of settlement funds arising from card transactions processed through the Service. After your Bank Account has been reviewed and approved, Paystand will initiate transfer of settlement funds (net of Fees, Chargebacks, and other funds owed to us for any reason) in accordance with the Payout Schedule. The terms of your Payout Schedule will be made available to you when you login to your Account. We are not responsible for any action taken by the institution holding your bank account that may result in some or all of the funds not being credited to your bank account or not being made available to you.
Notwithstanding the Payout Schedule, we may restrict access to your funds or defer or delay settlements to a Bank Account in our sole discretion for any of the following reasons: (a) based on your perceived risk and history with Paystand (e.g., risk of incurring a Chargeback, offsets for potential losses); (b) as required by law or court order; (c) during investigation and resolution of any dispute related to your Account; (d) to secure the performance of your payment obligations under this Agreement; and/or (e) as otherwise permitted under this Agreement or applicable law. You can contact Paystand at 1-800-708-6413 to change the timing of your Payout Schedule or request an increase to your settlement limit. Upon submitting a request, you will be informed of the process and requirements for Paystand to review your Payout Schedule and/or Bank Account, and Paystand will determine whether to grant your request in its sole discretion.
You are not required to have a credit in your Account in order to use the Service. When you have a credit, your funds will be co-mingled and held by the Bank with other Merchants’ funds in one or more pooled accounts at the Bank that are established in the Bank's name for the benefit of you and other users. The Bank has sole discretion over the establishment and maintenance of any pooled account. Paystand has no ownership or control, and no right, title or interest in any account in which Merchant funds are held.
The Bank will hold any funds associated with your Account in an account separate from any account used for Paystand’s corporate funds. Paystand will not and cannot use your funds for our corporate purposes (including the granting of any security or similar interest), will not voluntarily make funds available to our creditors in the event of bankruptcy or for any other purpose, and will not knowingly permit our creditors to attach the funds. You will not receive interest or any other earnings on any funds that the Bank holds for you. As consideration for using the Service, you irrevocably assign to us or the Bank all rights and legal interests to any interest and/or other earnings or benefits that may accrue or are attributable to the Bank holding your funds in a pooled account.
If your Account is negative for an extended period of time (as determined by Paystand in our sole discretion), the Bank may close your Account and we may pursue legal action or other collection efforts.
At any time and from time to time, we may temporarily suspend or delay payments to you and/or designate an amount of funds that we must maintain in your Account (“Reserve”) to secure the performance of your payment obligations under this Agreement. We may require a Reserve for any reason, including high chargeback risk or indications of performance problems related to your use of the Service. The Reserve will be in an amount as reasonably determined by us to cover anticipated chargebacks, returns, unshipped merchandise and/or unfulfilled services or credit risk based on your processing history or such amount designated by our processor. The Reserve may be raised, reduced or removed at any time by Paystand, in its sole discretion, based on your payment history, a credit review, the amount of any arbitration award or court judgment against you in Paystand’s favor, or otherwise as Paystand or its processor may determine or require. If you do not have sufficient funds in your Reserve, we may fund the Reserve from any funding source associated with your Account, or from any other Paystand Account under your control or any funding source associated with such other Account, including but not limited to any funds (a) held as a balance in your Account, (b) due to you under this Agreement, or (c) available in your bank account, or other payment instrument registered with us.
You grant us a security interest in and lien on any and all funds held in any Reserve, and also authorize us to make any withdrawals or debits from the Reserve, without prior notice to you, to collect amounts that you owe us under this Agreement, including without limitation for any reversals of deposits or transfers made to your Paystand Account. You will execute any additional documentation required for us to perfect our security interest in any funds in the Reserve. This security interest survives for as long as we hold funds in your Reserve; however, it does not apply to any funds for which the grant of a security interest would be prohibited by law. You irrevocably assign to us all rights and legal interests to any interest or other earnings that accrue or are attributable to your Reserve.
A “Chargeback” is a request that a Purchaser files directly with his or her card company or card issuing bank to invalidate a processed payment. “Claim” means a challenge to a payment that you or a Purchaser files directly with Paystand. “Reversal” means Paystand reverses the settlement of funds from a processed card transaction that you received because (a) the card transaction is invalidated by the card issuer, (b) the settlement funds were sent to you in error by (i) Paystand or the Bank; (ii) the processors, suppliers or licensors of Paystand or the Bank; or (iii) any of the respective affiliates, agents, directors and employees of any of the entities listed in (i) or (ii) above, (c) the sender of the payment did not have authorization to send the payment (for example: the Purchaser used a card that did not belong to the Purchaser), (d) you received the payment for activities that violated this Agreement or any other Paystand agreement, or (e) Paystand decided a Claim against you.
You may be subject to a Chargeback (i.e., the amount of a payment may be charged back to you) in the event of a Claim or Reversal, or if the payment (1) was not authorized or we have any reason to believe that the transaction was not authorized, or (2) is unlawful, suspicious, or in violation of the terms of this Agreement. You are responsible for all Chargebacks, whether or not the Chargeback complies with the Network Regulations.
You owe us and will immediately pay us the amount of any Chargeback and any associated Fees, fines, or penalties assessed by the Bank, our processor, the Networks, or the ACH. If you do not have sufficient funds in your Account, then we may withhold and/or offset any funds available to you in accordance with the Fees section above. You understand that if you have pending Chargebacks, we or the Bank may delay payouts to you.
Further, if we reasonably believe that a Chargeback is likely with respect to any transaction, the Bank may withhold the amount of the potential Chargeback from payments otherwise due to you under this Agreement until such time that: (I) a Chargeback is assessed due to a Purchaser's complaint, in which case the Bank will retain and refund the funds; (II) the period of time under applicable law or regulation by which the Purchaser may dispute that transaction has expired; or (III) we determine in our sole discretion that a Chargeback on the transaction will not occur.
If we determine that you are incurring an excessive amount of Chargebacks, Paystand or the Bank may establish controls or conditions governing your Account, including without limitation, by (A) assessing additional Fees, (B) creating a Reserve in an amount reasonably determined by us to cover anticipated Chargebacks and related Fees, (C) delaying payouts, and (D) terminating or suspending the Service or closing your Account.
You agree to assist us when requested and otherwise cooperate fully, at your expense, with any investigation of any of your transactions processed through the Service, until such investigation is completed. To that end, you permit us to share information about a Chargeback with the Bank, the Purchaser, the Purchaser's financial institution, and your financial institution in order to investigate and/or mediate a Chargeback. We will request necessary information from you to contest the Chargeback. If the Chargeback is contested successfully, we will release the reserved funds to you. If a Chargeback dispute is not resolved in your favor by the Networks or issuing bank or you choose not to contest the Chargeback, we may recover the Chargeback amount and any associated Fees as described in this Agreement. You acknowledge that your failure to assist us in a timely manner when investigating a transaction, including providing necessary documentation promptly upon our request, may result in an irreversible Chargeback. We reserve the right, upon notice to you, to charge a Fee for mediating and/or investigating Chargeback disputes.
Transactions will be designated as Pending, Complete, Failed or Cancelled.
“Pending” means that a transaction is currently undergoing review by the Bank and may not be completed or settled, at the Bank's sole discretion. “Pending” may also indicate that the transaction is awaiting account confirmation or settlement from a third party.
“Completed” means that a transaction has cleared and the funds are available in the Merchant's Account. If Paystand determines that the transaction is related to a restricted or prohibited business or activity or that the transaction is the result of fraudulent activity, Paystand may reverse or refund the transaction at any time.
“Cancelled” means that a transaction has been stopped or reversed. This could be due to inaccurate or incomplete information about your Account, our inability to validate the legitimacy of a payment, Purchaser, or Merchant, or another reason. You may contact Paystand at 1-800-708-6413 for more information. Although payments are cancelled, the removal of an authorization on a Purchaser credit card or a return of funds to a Purchaser bank account may not be immediate, and Paystand cannot guarantee availability within a specific timeframe.
“Failed” means that a transaction could not be processed due to inaccurate Account information, insufficient funds, or another transaction-related reason.
Upon the release of transaction information by Paystand, a Purchaser will be debited or charged by the Bank. You agree that the Purchaser's obligation to you is treated as paid at the time of (i) the release of this transaction information when a transaction is designated as “Complete”; and (ii) the related initiation of processing by the Bank. After the initiation of processing by the Bank, you agree not to attempt to collect or otherwise seek payment from the Purchaser, because you agree that Purchaser's obligation to you will have been conclusively discharged. Merchant agrees that the Purchaser is a third-party beneficiary of the preceding two sentences. Transactions may remain designated as “Pending” before “Completed” if Paystand is reviewing a transaction for risk purposes. Transactions designated as “Pending” should not be treated as paid until they are designated as “Completed.”
Transactions may be disputed at any time up to 90 days from the date of transaction, regardless of designation, by the Purchaser. Disputes resolved in favor of the Purchaser may result in reversal of the disputed transaction, regardless of designation.
Paystand reserves the right to limit or restrict transaction size or volume at any time. If you would like to increase your limits, please contact us at 1-800-708-6413. Upon receiving this request, Paystand will conduct a review of your Account, and decide whether to lift or remove these limits. Paystand will consider a variety of factors in making this decision and will make this determination at its sole discretion.
You represent and warrant that you are and will continue to be in compliance with all applicable privacy laws. In addition, you represent and warrant that you have obtained and will maintain all necessary rights and consents under applicable law to (a) disclose any data that you provide to us, or (b) authorize us to collect, retain, and/or disclose any data that you provide to us, including information that we may collect from your Purchasers directly or indirectly. You represent and warrant that you will disclose, and acknowledge that you are solely responsible for disclosing, to your Purchasers that Paystand is processing credit card transactions on your behalf and may obtain data from such Purchasers.
“Cardholder Data” is information associated with a payment card, such as account number, expiration date, and CVV2. Paystand is a validated PCI Level 1 Service Provider and so is qualified to handle Cardholder Data in connection with the Service.
If you handle, transmit, or store any Cardholder Data in connection with your use of the Service, you agree to comply at all times with the Payment Card Industry Data Security Standards (“PCI DSS”). Further, you agree to certify such compliance and provide documentation in accordance with Operating Regulations, or when asked by Paystand to do so. You also agree that you will use only PCI compliant service providers in connection with the storage, processing, or transmission of Cardholder Data. You will remove Cardholder Data from your systems, and any other place where you store it, as soon as practicable and in no event more than 24 hours after you receive an authorization decision.
You are fully responsible for the security of data (including but not limited to Cardholder Data) on your website or otherwise in your possession or control. You agree to comply with all applicable laws, Network Regulations, and rules in connection with your collection, security and dissemination of any personal, financial, or transaction information. You agree to notify Paystand immediately if you provide any third party with access (or otherwise permit, authorize, or enable such third party’s access) to any Cardholder Data.
Unless a Purchaser expressly grants you consent, you may not retain, track, monitor, store, disclose or otherwise use any data collected from such Purchaser (e.g. to send any marketing or promotional materials to such Purchaser) except in connection with the transaction in which it was given and any post-transaction activities in connection with such immediate transaction (e.g., a Chargeback).
We have implemented technical and organizational measures designed to secure your personal information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized third parties will never be able to defeat those measures or use your personal information for improper purposes. You acknowledge that you provide your personal information at your own risk.
If you discover a security-related issue, you agree to inform us of the issue immediately by contacting Paystand at 1-800-708-6413. You also agree not to disclose the issue until Paystand has addressed it.
Prices may increase based on the costs of doing business. Any changes are at the sole and absolute discretion of Paystand, up to a maximum of seven (7%) percent per year subsequent to the conclusion of the contract term. If this increase applies to you, the increased fees will apply at the start of the next quarterly term. If you have questions or comments related to this increase, please contact your Customer Success Manager.
You may terminate this Agreement by closing your Paystand Account at any time. When you close your Account, any pending transactions will be cancelled. Any funds that the Bank is holding in custody for you when you close your Account, less any applicable Fees, will be paid out to you according to your Payout Schedule, assuming all payout-related authentication requirements have been fulfilled (for example, you may not close your Account as a means of evading your Payout Schedule). We or the Bank may hold your funds for any of the reasons described in this Agreement. If you are later determined to be entitled to some or all of the funds, the Bank will then release those funds to you.
We may terminate your Account at any time in our sole discretion. In addition, the Bank or any Network may terminate your Account at any time and for any reason, including, without limitation, if any act or omission by you results in harm or the loss of goodwill to such Bank and/or Network. Reasons for which your Account may be terminated by Paystand, the Bank, or any Network may include, but are not limited to: (a) a material deterioration in your financial status or condition; (b) invalid, prohibited, or otherwise unacceptable sales deposits; (c) excessive chargebacks; and/or (d) any violation of this Agreement, any Network Regulations, the ACH Rules, or any applicable law.
If your Account is terminated for any reason or no reason: (i) you continue to be bound by this Agreement, (ii) you will immediately stop using the Service and remove all card logos from your website and wherever else they are displayed, (iii) the license provided under this Agreement is immediately terminated, (iv) we reserve the right (but have no obligation) to delete all of your information and Account data stored on our servers, and (v) Paystand shall not be liable to you or any third party for termination of access to the Service, deletion of your information or Account data, or export of your information or Account data.
We will not be liable to you for compensation, reimbursement, or damages in connection with any termination or suspension of the Service. Any termination of this Agreement does not relieve you of any obligations to pay any Fees or costs accrued prior to the termination and any other amounts owed by you to us as provided in this Agreement.
If your Account is terminated, you acknowledge and agree that Paystand and/or the Bank is required to and will report your business name and the name of your principals to the MATCH™ listing maintained by MasterCard and accessed and updated by Visa and American Express or to the Consortium Merchant Negative File maintained by Discover, if applicable, or to any other negative or terminated merchant file of any other Network, if applicable, pursuant to the requirements of the Network Regulations. You specifically consent to the fulfillment of the obligations related to the listing by Paystand or the Bank and to the listing itself and you waive and hold harmless Paystand and the Bank from all claims and liabilities you may have or incur as a result of such reporting.
You represent and warrant to us that: (a) you are eligible to register and use the Service and have the right, power, and ability to enter into and perform under this Agreement; (b) the name identified by you when you registered is your name or business name under which you sell goods and services; (c) any sales transaction submitted by you will represent a bona fide sale by you; (d) any sales transactions submitted by you will accurately describe the Merchandise sold and delivered to a Purchaser; (e) you will fulfill all of your obligations to each Purchaser for which you submit a transaction and will resolve any consumer dispute or complaint directly with the Purchaser; (f) you and all transactions initiated by you will comply with all federal, state, and local laws, rules, and regulations applicable to your business, including any applicable tax laws and regulations; (g) except in the ordinary course of business, no transaction submitted by you through the Service will represent a sale to any principal, partner, proprietor, or owner of your entity; (h) you will not use the Service, directly or indirectly, for any fraudulent undertaking or in any manner so as to interfere with the use of the Service; (i) your use of the Service will be in compliance with this Agreement.
DISCLAIMER OF WARRANTIES.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICE AND ALL ACCOMPANYING DOCUMENTATION ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITHOUT ANY WARRANTIES, EITHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. USE OF THE SERVICE IS AT YOUR OWN RISK. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM OR THROUGH THE SERVICE OR FROM (a) PAYSTAND OR THE BANK; (b) THE PROCESSORS, SUPPLIERS OR LICENSORS OF PAYSTAND OR THE BANK; OR (c) ANY OF THE RESPECTIVE AFFILIATES, AGENTS, DIRECTORS AND EMPLOYEES OF ANY OF THE ENTITIES LISTED IN (a) OR (b) ABOVE (EACH, A “DISCLAIMING ENTITY” AND COLLECTIVELY, THE “DISCLAIMING ENTITIES”) WILL CREATE ANY WARRANTY FROM ANY DISCLAIMING ENTITY TO YOU. YOU SPECIFICALLY ACKNOWLEDGE THAT NEITHER PAYSTAND NOR THE BANK HAVE ANY CONTROL OVER THE PRODUCTS OR SERVICES THAT ARE PAID FOR WITH THE SERVICES, AND NEITHER PAYSTAND NOR THE BANK CAN ENSURE THAT ANY PURCHASER WILL COMPLETE A TRANSACTION OR IS AUTHORIZED TO DO SO.
WITHOUT LIMITING THE FOREGOING, THE DISCLAIMING ENTITIES DO NOT WARRANT THAT THE INFORMATION THEY PROVIDE OR THAT IS PROVIDED THROUGH THE SERVICE IS ACCURATE, RELIABLE OR CORRECT; THAT THE SERVICE WILL MEET YOUR REQUIREMENTS; THAT THE SERVICE WILL BE AVAILABLE AT ANY PARTICULAR TIME OR LOCATION, THAT THE SERVICE WILL FUNCTION IN AN UNINTERRUPTED MANNER OR BE SECURE; THAT ANY DEFECTS OR ERRORS WILL BE CORRECTED; OR THAT THE SERVICE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. ANY SUBJECT MATTER DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS DOWNLOADED AT YOUR OWN RISK – YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR PROPERTY OR LOSS OF DATA THAT RESULTS FROM SUCH DOWNLOAD. THE DISCLAIMING ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES ABOUT HOW LONG WILL BE NEEDED TO COMPLETE THE PROCESSING OF A TRANSACTION.
THE DISCLAIMING ENTITIES DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH THE SERVICE OR ANY HYPERLINKED WEBSITE OR SERVICE, OR FEATURED IN ANY BANNER OR OTHER ADVERTISING, AND NEITHER PAYSTAND NOR THE BANK WILL BE A PARTY TO OR IN ANY WAY MONITOR ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.
Paystand does not provide refunds. By accepting this Agreement, you agree to submit any and all refunds and adjustments for returns of your Merchandise through the Service to the Purchaser’s payment card in accordance with the terms of this Agreement and Network Rules. The Network Regulations require that you will (a) maintain a fair return, cancellation or adjustment policy; (b) disclose your return or cancellation policy to Purchasers at the time of purchase, (c) not give cash refunds to a Purchaser in connection with a payment card sale, unless required by law, and (d) not accept cash or any other item of value for preparing a payment card sale refund. Your refund policies must be the same for all payment methods.
If a Purchaser is dissatisfied with your refund policy, the Purchaser may attempt to Chargeback the payment. You may not bill or collect from any Purchaser for any purchase or payment by means of a payment card unless the Purchaser has exercised a Chargeback, you have fully paid for the charge, and you otherwise have the right to do so.
Full refunds must be for the exact dollar amount of the original transaction including tax, handling charges, and other. The refund amount may not exceed the original sale amount except by an amount equal to any reimbursements to the Purchaser for postage costs incurred for product returns. You will use best efforts to process all refunds within sixty (60) days after the original transaction date, and you acknowledge that refunds processed after that time may not be capable of being processed.
For processed refunds, Paystand will deduct the refund amount (including any applicable Fees) from (i) settlement funds owed to you from processing of other card transactions, or (ii) funds in any Reserve Account. If these funds are not sufficient, you authorize Paystand to initiate an ACH debit entry to your Bank Account in the amount necessary to complete the refund transaction to the Purchaser’s payment card. In the event the Paystand cannot access your Bank Account by means of ACH debit or otherwise offset the applicable amount in accordance with the terms of this Agreement, you agree to pay all funds owed to Paystand upon demand. You are solely responsible for accepting and processing returns of your Merchandise; Paystand has no responsibility or obligation for processing such returns.
Except as required by law, you are solely responsible for compiling and retaining permanent records of all transactions and other data associated with your Account, your transaction history and your use of the Service (“Books and Records”). Paystand is not responsible for maintaining any Books and Records on your behalf. You will maintain appropriate records of all card transactions for a period of at least two (2) years from the date of the transaction.
Your transaction history will be available to you when you login to your Account. Except as required by law, you are solely responsible for reconciling your transaction history with your actual card payment transactions. You agree to notify us of any discrepancies arising from such reconciliation and verification. We will investigate any reported discrepancies and attempt to rectify any errors that you or we discover. In the event you are owed money as a result of the discrepancy, we will transfer funds to your Bank Account in accordance with the applicable Payout Schedule. Your failure to notify us of any error or discrepancy in your transaction history within sixty (60) days of when it first appears on your transaction history will be deemed a waiver of any right to amounts owed to you in connection with any such error or discrepancy in processing your card payments.
If we believe that a security breach or compromise of data has occurred, we may require you to have a third-party auditor that is approved by us conduct a security audit of your systems and facilities and issue a report to be provided to us, our banking partners, and the Card Networks.
Paystand will be entitled to audit or have audited all of your Books and Records, websites, and/or premises to assure that you have the proper facilities, equipment, inventory, agreements, personnel, licenses, permits, and other capabilities required to conduct your business.
IN NO EVENT SHALL PAYSTAND NOR ANY DISCLAIMING ENTITY (AS DEFINED ABOVE), BE LIABLE UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY WITH RESPECT TO THE SERVICE (INCLUDING, WITHOUT LIMITATION, THE USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE SERVICE) (a) FOR ANY LOST PROFITS, DATA LOSS, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER, SUBSTITUTE GOODS OR SERVICES (HOWEVER ARISING), (b) FOR ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE (REGARDLESS OF THE SOURCE OF ORIGINATION), (c) FOR YOUR RELIANCE ON THE SERVICE OR (d) FOR ANY DIRECT DAMAGES IN EXCESS OF (IN THE AGGREGATE) THE AMOUNT OF FEES PAID BY YOU TO PAYSTAND DURING THE THREE (3) -MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATIONS AND EXCLUSIONS MAY NOT APPLY TO YOU.
This Agreement shall be governed by and construed in accordance with the laws of the State of California, excluding its conflicts of law rules, and the United States of America. Any dispute arising from or relating to the subject matter of this Agreement shall be finally settled by arbitration in San Francisco County, California, using the English language in accordance with the Arbitration Rules and Procedures of Judicial Arbitration and Mediation Services, Inc. (“JAMS”) then in effect, by one commercial arbitrator with substantial experience in resolving intellectual property and commercial contract disputes, who shall be selected from the appropriate list of JAMS arbitrators in accordance with the Arbitration Rules and Procedures of JAMS. The prevailing party in the arbitration shall be entitled to receive reimbursement of its reasonable expenses (including reasonable attorneys’ fees, expert witness fees and all other expenses) incurred in connection therewith. Judgment upon the award so rendered may be entered in a court having jurisdiction or application may be made to such court for judicial acceptance of any award and an order of enforcement, as the case may be. Notwithstanding the foregoing, each party shall have the right to institute an action in a court of proper jurisdiction for injunctive or other equitable relief pending a final decision by the arbitrator. For all purposes of this Agreement, the parties consent to exclusive jurisdiction and venue in the United States Federal Courts located in the Northern District of California. Use of the Service is not authorized in any jurisdiction that does not give effect to all provisions of this Agreement, including without limitation, this section.
This Agreement is the entire agreement between you and Paystand with respect to the Service and use of the Sites, and supersede all prior or contemporaneous communications and proposals (whether oral, written or electronic) between you and Paystand with respect to the Sites. If any provision of this Agreement is found to be unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect and enforceable. The failure of either party to exercise in any respect any right provided for herein shall not be deemed a waiver of any further rights hereunder.
You will submit all card transactions for processing no later than three (3) days from the date of authorization.
You will display all Network marks in accordance with the rules and procedures of the Networks, and will use such marks only to indicate that you accept their cards for payment.
No more than twenty percent (20%) of your total sales processed via the Service may be international card sales.
If there is no activity in your Account (including access or payment transactions) for the period of time set forth in the applicable unclaimed property laws, and you have a credit, we may notify you by sending an email to your registered email address. We may also notify you by U.S. mail. We will give you the option of keeping your Account open, withdrawing the funds, or requesting a check. If you do not respond to our notice within the time period specified in the notice, we may close your Account and the Bank will escheat your funds in accordance with applicable law.
If applicable to you, your agreement to this Agreement also binds you to the Merchant Services Agreement set forth in Exhibit A to this Agreement. Please read the Merchant Services Agreement in full to see if it applies to you. By way of example only, if you receive more than $100,000 in payments from Visa or MasterCard in a twelve-month period, then the Merchant Services Agreement does apply to you. If it is applicable, the Merchant Services Agreement constitutes a legal binding contract between you, on the one hand, and VANTIV, LLC and its designated Member Bank, on the other hand.
Paystand shall not be liable for any failure to perform its obligations hereunder where such failure results from any cause beyond Paystand’s reasonable control, including, without limitation, mechanical, electronic or communications failure or degradation. This Agreement is personal to you, and is not assignable, transferable or sublicensable by you except with Paystand’s prior written consent. Paystand may assign, transfer or delegate any of its rights and obligations hereunder without consent. No agency, partnership, joint venture, or employment relationship is created as a result of this Agreement and neither party has any authority of any kind to bind the other in any respect. Merchant is solely responsible for any act or omission of any of Merchant’s employees, consultants, agents, and contractors. In any action or proceeding to enforce rights under this Agreement, the prevailing party will be entitled to recover costs and attorneys’ fees. All notices under this Agreement will be in writing and will be deemed to have been duly given when received, if personally delivered or sent by certified or registered mail, return receipt requested; when receipt is electronically confirmed, if transmitted by facsimile or e-mail; or the day after it is sent, if sent for next day delivery by recognized overnight delivery service.
This Merchant Services Agreement for Sub-Merchants ("Merchant Agreement") is made among VANTIV, LLC, having its principal office at 8500 Governors Hill Drive, Symmes Township, OH 45249-1384 and its designated Member Bank (collectively "Acquirer") and the "Merchant" as defined in, and in connection with, the Terms of Service between Paystand, Inc. and the Merchant (herein referred to as "Sub-merchant"). Capitalized terms not otherwise defined herein have the respective meanings given them in the Paystand Terms of Service. Acquirer will provide Sub-merchant with certain payment processing (the "Services") in accordance with the terms of this Merchant Agreement. In consideration of Sub-merchant's receipt of credit or debit card funded payments, and participation in programs affiliated with Visa, MasterCard, Discover, and certain similar entities (collectively, "Associations"), Sub-merchant is required to comply with the Operating Regulations as they pertain to applicable credit and debit card payments. In addition, if Sub-merchant meets certain requirements under the Operation Regulations or an Association or the Operating Regulations otherwise require, Sub-merchant may be required to enter into a direct relationship with an entity that is a member of the Associations. By agreeing to the Paystand Terms of Service to which this Merchant Agreement is an exhibit (by "click through" agreement or otherwise), Sub-merchant has fulfilled this requirement, if and when applicable. However, Acquirer understands that Sub-merchant may have contracted with Paystand to obtain certain processing services and that Paystand may have agreed to be responsible to Sub-merchant for all or part of Sub-merchant's obligations contained herein.
Payment processing services for account holders on Paystand may also be provided by Stripe and are subject to the Stripe Connected Account Agreement, which includes the Stripe Terms of Service(collectively, the “Stripe Services Agreement”). By agreeing to [this agreement / these terms / etc.] or continuing to operate as a Merchant on Paystand, you agree to be bound by the Stripe Services Agreement, as the same may be modified by Stripe from time to time. As a condition of Paystand enabling payment processing services through Stripe, you agree to provide Paystand accurate and complete information about you and your business, and you authorize Paystand to share it and transaction information related to your use of the payment processing services provided by Stripe.
NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises contained herein, the parties agree as follows:
We collect information about you in various ways when you use our Sites and Services. For example, we collect information you provide to us when you register for a Paystand account or sign up through a partner marketplace, initiate or accept a payment, request customer service or respond to a Paystand survey. Such personal information may include your name, address, email address, credit card information and bank account and routing numbers. Before you use the Services, we may also require you to provide additional information that we can use to verify your identity, such as your date of birth, Social Security number or other information. Finally, we may obtain information about you from other sources, including third party websites or applications that offer the Paystand Services, and combine that with information we collect on our Sites and through our Services.
When you visit our Sites or use our Services, some information is automatically collected. For example, when you visit our Sites, your computer’s operating system, Internet Protocol (“IP”) address, access times, browser type and language and the website you visited before our Sites are logged automatically. We also collect information about your usage and activity on our Sites and Services.
Cookies. We automatically collect information using “cookies.” Cookies are small data files stored on your hard drive by a website. Among other things, cookies help us improve our Sites, Services and your experience. We use browser cookies to see which areas and features are popular and to count visits to our Sites. We also use flash cookies for fraud prevention purposes. You can usually choose to set your browser to remove and/or reject cookies. For instructions on removing or rejecting flash cookies, please see Adobe Flash Player and Microsoft Silverlight. If you choose to remove or reject cookies, this could affect certain features or services of our Sites or Services. Please note that you may also encounter cookies from third parties when using the Paystand Services on websites that we do not control.
Web Beacons. We may also collect information using Web beacons. Web beacons are electronic images that may be used on our Sites, in our Services or in our emails. We use Web beacons to deliver cookies, count visits, understand usage and campaign effectiveness and to tell if an email has been opened and acted upon.
We use personal information collected through our Sites and Services for purposes described in this Policy or otherwise disclosed to you. For example, we may use personal information to:
Paystand stores and processes personal information in the United States.
We may share your personal information with the person or company that you are paying, or that is transferring money to you, for purposes of processing the transaction. We may also share your personal information with payment processors, banks and other entities in the financial system to process your transactions and maintain your account. We may also share your unique user ID with third parties that integrate the Paystand services into their sites and applications; however, we will not share any personal information with these third parties.
We may also share your personal information with third party vendors, consultants and other service providers who work on our behalf (e.g., fraud and identity theft prevention and security auditing services). Furthermore, to verify your identity, we may share your personal information with third-party identity-verification services such as Inflection and/or Lexus Nexus.
Finally, we may also share your information as follows:
We may also share aggregated or anonymized information that does not directly identify you.
Paystand takes measures to help protect your personal information in an effort to prevent loss, misuse and unauthorized access, disclosure, alteration and destruction.
You may opt out of receiving promotional emails from Paystand by following the instructions in those emails or by emailing us at . If you opt out, we may still send you non-promotional emails, such as emails about your accounts or our ongoing business relations. In addition, you can review and edit your personal information at any time by logging into your account.
Paystand may change this Policy from time to time. If we make any changes to the Policy, we will change the “Last Updated” date above.
If you have any questions about this Policy, please contact us at firstname.lastname@example.org.
Solid Platform Terms of Service
Effective May 1, 2021
If you do not agree to these Terms of Service, you must immediately stop using our services.
NOTICE OF BINDING ARBITRATION
ANY CLAIM, DISPUTE OR CONTROVERSY OF WHATEVER NATURE ARISING OUT OF OR RELATING TO THE TERMS OF SERVICE SHALL BE RESOLVED BY FINAL AND BINDING ARBITRATION IN ACCORDANCE WITH THE PROCESS DESCRIBED IN THE SECTION TITLED “BINDING ARBITRATION” BELOW. PLEASE READ THE SECTION TITLED “BINDING ARBITRATION” CAREFULLY.
Solid Financial Technologies, Inc. and our affiliates or subsidiaries (collectively “Solid,” “we,” “us,” or “our”) is banking as a software (BaaS) layer between banks, and the financial technology platforms using our services (“Platform”). We provide Platforms banking services (e.g. bank transfers or accounts) to you through Solid’s bank partners (collectively “Banks”).
Check out our website (solidfi.com) or feel free to email us at email@example.com to learn more about Solid.
By using our services offered through Platforms or our website or mobile application, you became a customer of Solid. You agree to these Terms of Service when you use the services. You understand that all bank and transaction-related services are provided directly by the Bank, except as it relates to specific services provided to you by your Platform. Similarly, Platform is responsible for providing their services to you pursuant to your agreements with Platform. Solid’s services allow you to easily communicate with banks and other financial institutions through Platforms. By using our service, you grant us the right, power, and authority to act on your behalf to access and transmit your personal and financial information, and requests for services between Bank, Platform, and any other financial institutions (as applicable).
By using our services or by accessing Solid’s or a Platform’s website or phone application, you acknowledge and agree that:
You are at least 18 years old (or legal age of capacity of your state) and you have the right, authority, and capacity to enter into these Terms of Service. If you are accepting these Terms of Service on behalf of any legal entity, including any company, organization, government, or governmental agency, you have been authorized to do so and to act on behalf of such legal entity:
The information and instructions you provide us are true, accurate, and complete, as you are solely responsible for such information and instructions. Additionally, you will provide all information requested by us, such as your name, email address, phone number, date of birth, social security number or tax identification number, photo ID, online login credentials or your account and routing numbers for your bank or credit union account (“Bank Account”), and such other information as we may request from time to time. You agree to update us if the information changes (collectively, your “User Data”). We may use third parties to verify all or a portion of your information.
If Platform or we provide you with login credentials (e.g. username, password or PIN) to access our services, (i) you will keep this information secure and confidential; (ii) you will not share such information with third parties; and (iii) you understand that you are responsible for all activity any person conducts using your login credentials to access our services, regardless of whether or not you authorized the activity. We will never ask you for your login credentials by phone or email.
By using our transactions services to send funds via the Automated Clearing House (“ACH”) from your linked Bank Account(s) to your Account, Platform, or a third party, you authorize us (as an agent of Bank) to debit the Bank Account indicated by you for the amount and on the date provided by you. You understand that because this will be an electronic transaction, and funds may be withdrawn from your account as soon as the above-noted transaction date. You will not dispute your Platform, Bank, or Solid debiting my account, so long as the transaction corresponds to the terms indicated in the transaction web form provided to you.
We may limit or suspend your access to our services or take other actions against you if the information you provide us is incorrect or you otherwise breach these Terms of Service as further detailed in these Terms of Service.
Your use of our services does not violate any laws or regulations or any agreements with any third parties.
We do not provide any endorsements or guarantees for any individual or entity using Solid’s services (including the Platform you accessed to use our services), nor any third party offers, goods or services featured on our websites. Information regarding third-party offers, goods, and services is provided on our websites for informational purposes only, and may not be true, accurate, or reliable.
Important information about procedures for using our services under the USA PATRIOT Act of 2001: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you use our services, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a form of identification with your photograph or other identifying documents.
You understand and agree that you will not:
Solid provides software services to you and Platforms to give you the ability to send and receive funds from third parties, in addition, to open up an Account. All funds transfer services are provided by Bank, as Solid does not receive, hold, or transmit funds. Our software allows you to send funds transfer instructions to Bank. Any funds balance displayed by Solid’s software are held in your Account, or otherwise held by Bank or Platform for your benefit, as applicable (“Account Balance”).
Solid MAKES NO REPRESENTATIONS OR WARRANTIES RELATING TO YOUR FUNDS OR ACCOUNT BALANCES INCLUDING FEDERAL DEPOSIT INSURANCE CORPORATION (“FDIC”) INSURANCE COVERAGE. SUCH REPRESENTATIONS AND WARRANTIES MAY BE FOUND IN YOUR SPECIFIC ACCOUNT AGREEMENT OR AGREEMENT WITH YOUR PLATFORM. UNLESS NOTIFIED OTHERWISE BY SUCH AGREEMENTS, YOUR ACCOUNT BALANCES MAY LOSE VALUE IN THE EVENT BANK, THE BROKER-DEALER, OR PLATFORM ENTERS A RECEIVERSHIP.
We provide software services to facilitate your requests for services relating to your Account as detailed in such agreements. We are not responsible or liable if your request for such services is limited, delayed, or denied for risk, compliance, or other reasons.
We may from time to time offer additional services or remove services without prior notice to you. You agree to be bound by the terms and conditions of such services as they may be offered to you.
Fees for services offered under your Account are detailed in the specific Account agreements. If you use our Transaction services listed in Section 4(b), you may be charged a transaction fee by Platform or us as detailed in your agreement with Platform. Transactions completed on our website or mobile application may include a transaction fee as detailed when you make a transaction request.
In the event that a sender or the sender’s financial institution requests a reversal of payment or Solid decides against you in a dispute against you, we reserve the right to charge you a $15.00 fee in addition to the full amount of the transaction (collectively, the “Reversal Dues”). You agree to immediately reimburse for the Reversal Dues. Additionally, you authorize us to recover any Reversal Dues outstanding to Solid or Bank by debiting your available Account Balance. If you have an insufficient Account Balance, you authorize Solid and our Bank to take any of the following actions to recover the remaining amounts from you:
Solid is always looking for ways to protect you from abusive business practices, security-related issues, and other issues you may encounter with Platform and our Banks. If you have a complaint against how Platform or Bank is providing services to you or using your User Data, just let us know by emailing us at firstname.lastname@example.org per below. We cannot warranty or guarantee anything under this section, but if we are able to help, we will work with you to resolve your complaint so long as such assistance is commercially reasonable and does not violate any agreements with third parties, regulations, or laws. Disputes relating to your Account shall be governed by your specific account agreements. Below is more information on how we can try to help you with other Disputes (as defined below).
You understand and agree that we are not responsible for the goods or services that you pay for using our services, including but not limited to those offered by your Platform and other third parties. Each Platform and seller that you purchase from is responsible for providing the goods and services that you purchase and for providing all customer service related to those goods and services. We recommend that you review Platform’s and, if applicable, a seller’s policies before completing your purchase. You are responsible for resolving any disputes that you may have with a
Platform or a seller. If you have exhausted all options for resolving a complaint about abusive business practices, security-related issues, or other dispute with a Platform or a seller, you may choose to file a dispute claim with Solid (“Dispute”) by following the steps in this “Disputes” Section.
By filing a Dispute, you understand and agree that:
You are asking us to assist in resolving the dispute in its sole discretion and that such assistance or Solid’s decision may not be satisfactory to you;
Solid’s assistance in resolving the dispute does not guarantee any particular outcome or any action on our part; and
You release Solid and our officers, directors, agents, employees, subsidiaries, and suppliers from all claims, demands, and damages of any kind arising out of your dispute with a seller and Solid’s review of your Dispute.
promises or affirmations, etc.); and
Provide any additional information or documentation that we may request. Once Solid has decided the outcome of the Dispute, the parties will be notified of the decision. You are required to comply with the decision and complete any actions required by such decision.
All disputes relating to an Account shall be governed by the specific Account agreement and this section shall not apply.
You are responsible for all Reversal Dues, claims, fees, fines, penalties, and other liabilities incurred by Solid, Bank, other Solid users, a Platform, or third parties arising from your breach of these Terms of Service or your use of our services. You agree to reimburse Solid, Bank, other Solid users, Platforms, or third parties for any and all such liability.
If we determine, in our sole discretion, that you may have breached these Terms of Service, that you or your account activity presents risk or security concerns, or if we are unable to verify your identity, we may take actions to protect Solid, Bank, Platforms, our users, or other third parties from Reversal Dues, claims, fines, penalties, and any other liability. These actions may include, but are not limited to, the following:
iii. Taking action as set out in the “Reversals” Section to recover amounts that you owe;
with your Bank Account(s), and/or warning other Solid users, law enforcement, or other impacted third parties of your actions;
vii. Taking legal action against you.
Solid’s services are based in the United States of America. We make no claims whether these services can be appropriately used outside of the United States. If you access our services from outside of the United States, you do so at your own risk. You are solely responsible for ensuring compliance with local laws.
We reserve the right, at our sole discretion, to restrict, suspend, or terminate these Terms of Service and your access to all or any part of our services, at any time and for any reason without prior notice or liability. We reserve the right to change, suspend, or discontinue all or any part of our services at any time without prior notice or liability.
If you wish to terminate your use of the services and the Terms of Service, email us at email@example.com. However, if you terminate the Terms of Service with Solid, this will result in your Account Agreement being terminated and may impair your ability to use Platform’s services. You accept sole responsibility and any liabilities resulting from an impairment of Platform’s services or termination of your agreements with Platform, to the fullest extent permitted by law.
If you wish to terminate your agreement with Platform or your Account, you must notify the parties of such agreements in accordance with such agreements.
To the fullest extent permitted by law, these Terms of Service, notices, and other communications (collectively, “communications”) from Solid to you regarding these Terms of Service may be provided to you electronically via Solid, Bank, or Platform (on behalf of Solid), and you consent and agree to receive those communications in an electronic form. Electronic communications may be posted on the page you are on now and the pages within the Platform’s website or application, pages within the Solid website (https://solidfi.com/) or applications, and/or delivered by Solid, Bank, or the Platform (on behalf of Solid) to your email address(es) provided to Platform and us. You may download or print a paper copy of any electronic communication and retain it for your records. All communications in electronic format will be considered to be "in writing," and to have been received no later than twenty-four (24) hours after posting or dissemination, whether or not you have received or retrieved the communication. Solid reserves the right to provide communications in paper format. You agree to give us notice of any change of your postal or email address.
Your consent to receive communications electronically is valid until you revoke your consent by notifying us of your decision to do so. If you revoke your consent to receive communications electronically, Solid may terminate your right to use the services under these Terms of Service and, as a result, your ability to use the Bank or Platform services, and you accept sole liability for resulting from an involuntary termination of the Bank’s or Platform’s services, to the extent permitted by law.
You may give notice to Solid by emailing Solid at firstname.lastname@example.org
“Business Day” for the purpose of these Terms of Service means every day is a business day except Saturdays, Sundays, and federal and state holidays.
Solid may revise these terms of Service at any time without notice. By using the Platform’s or Bank’s services, Solid services or website, you are agreeing to be bound by the then current version of these Terms of Service and any amendments to the Terms of Service upon your continued use of our services.
THE SERVICES UNDER THE TERMS OF SERVICE, Solid’S WEBSITE, AND ITS CONTENT ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY WARRANTIES OF ANY KIND. WE DISCLAIM ALL WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE WARRANTY OF TITLE, MERCHANTABILITY, NON INFRINGEMENT OF THIRD PARTIES’ RIGHTS, AND FITNESS FOR PARTICULAR PURPOSE.
THE Solid SERVICES ARE PROVIDED "AS IS" AND “AS AVAILABLE”, WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED, OR STATUTORY. USE OF THE Solid SERVICES IS AT YOUR OWN RISK. Solid, BANKS, AND OUR AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, AND SUPPLIERS, SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. NEITHER Solid NOR BANK HAVE CONTROL OF, OR LIABILITY FOR, ANY PRODUCTS OR SERVICES OFFERED BY PLATFORMS OR THAT ARE PAID FOR USING OUR SERVICES AND CANNOT ENSURE THAT ANY PLATFORM OR OTHER THIRD PARTY YOU TRANSACT WITH WILL COMPLETE THE TRANSACTION. NEITHER Solid NOR BANK REPRESENT OR WARRANT THAT OUR SERVICES WILL MEET YOUR REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM Solid OR THROUGH OUR SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. NEITHER Solid NOR BANK SHALL BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE PROCESSING, COMPLETION, OR SETTLEMENT OF OUR SERVICE TRANSACTIONS. THIS DISCLAIMER OF WARRANTY SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION
Solid MAKES NO REPRESENTATIONS OR WARRANTIES RELATING TO YOUR FUNDS OR ACCOUNT BALANCES INCLUDING FEDERAL DEPOSIT INSURANCE CORPORATION (“FDIC”) INSURANCE COVERAGE OR SECURITIES INVESTOR PROTECTION CORPORATION (“SPIC”) INSURANCE COVERAGE. SUCH REPRESENTATIONS AND WARRANTIES MAY BE FOUND IN THE SPECIFIC ACCOUNT AGREEMENT OR AGREEMENT WITH YOUR PLATFORM. UNLESS NOTIFIED OTHERWISE BY SUCH AGREEMENTS, YOUR ACCOUNT BALANCES MAY LOSE VALUE IN THE EVENT BANK OR BROKER DEALER ENTERS A RECEIVERSHIP.
You understand and agree we will not be held responsible for any losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond our control. In such an event, Solid or Bank may suspend the services and access to your Account held by Bank or Platform for your benefit.
IN NO EVENT SHALL WE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL, AND CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE Solid’S, BANK’S, PLATFORM’S SERVICES OR WEBSITES OR PHONE APPLICATIONS OR CONTENT THEREIN WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), OR ANY OTHER LEGAL THEORY, EVEN IF WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES OR LIMITATION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATIONS OR EXCLUSIONS MAY NOT APPLY TO YOU. IN SUCH STATES, OUR LIABILITY SHALL BE LIMITED TO THE GREATEST EXTENT PERMITTED BY LAW.
You agree to defend, indemnify and hold harmless Solid and their respective officers, directors, employees, agents, and suppliers (collectively “Disclaiming Entities”) from and against any third party claim, suit, demand, loss, liability, damage, action, proceeding or suits and related liabilities, damages, settlements, penalties, fines, costs or expenses (including reasonable attorneys' fees and other litigation expenses) arising out of or relating to (i) your breach of any provision of these Terms of Service; (ii) your actions and omissions in connection with your accounts or our services; (iii) our actions and omissions, provided that they are taken/omitted in accordance with this Terms of Service or your instructions; or (iv) your violation of any laws and regulations; or (v) your negligent or reckless act or omission or willful misconduct of your employees, contractors, or agents. This provision shall survive the termination of these Terms of Service.
Any controversy or claim arising out of or relating to these Terms of Service, or the breach thereof, shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. In any arbitration arising out of or related to the Terms of Service, the arbitrators will award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with those aspects of its claims or defenses on which it prevails, and any opposing awards of costs and attorneys’ fees awards will be offset.
No class actions or similar process, and no joinder or consolidation of any claim with a claim of any other person or entity, shall be allowable in arbitration, without the written consent of both parties. The arbitrator shall have no authority to entertain any claim on behalf of a class, group, person, or entity who is not a named party to the arbitration, nor shall any arbitrator have authority to make any award for the benefit of, or against, any class, group, person, or entity who is not a named party to the arbitration. In the event that there is a dispute about whether limiting arbitration to non-class proceedings, or to the named parties, is enforceable under applicable law, then that question shall be resolved by a court rather than by an arbitrator, and to the extent, it is determined that resolution of a claim must proceed on a class basis, it shall so proceed in a court of competent jurisdiction rather than in arbitration.
The place of arbitration shall be San Francisco, CA, except to the extent, the arbitration involves Bank and/or your Account, or a third-party service provider of Solid as a party to the dispute, then Solid may in its sole discretion move the place of arbitration to the location of such arbitration proceedings to which you have previously agreed to in such agreements (See, your specific Account Agreement Arbitration sections for more information of the place of arbitration).
ARBITRATION WITH RESPECT TO A CLAIM IS BINDING AND NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION THE PARTIES WILL NOT HAVE THE SAME RIGHTS THAT APPLY IN COURT, SUCH AS THE RIGHT TO A TRIAL BY JUDGE OR JURY AND THE RIGHT TO PARTICIPATE OR BE REPRESENTED IN PROCEEDINGS BROUGHT BY OTHERS SUCH AS CLASS ACTIONS OR SIMILAR PROCEEDINGS. IN ADDITION, THE RIGHT TO DISCOVERY AND THE RIGHT TO APPEAL MAY ALSO BE LIMITED OR ELIMINATED IN ARBITRATION. ALL OF THESE JUDICIAL RIGHTS ARE WAIVED WITH RESPECT TO CLAIMS THAT THE PARTIES ELECT TO ARBITRATE.
All claims, findings, and settlements under this “Binding Arbitration” shall be confidential information of Solid. You shall not disclose or reveal to employees, agents, Platform, or other third parties unless such information is already publicly available. Due to the unique nature of the confidential information, monetary damages may be inadequate to compensate us for your violation or threatened violation may cause irreparable injury to us and, in addition to any other remedies that may be available, in law, in equity or otherwise, we shall be entitled to seek injunctive relief against the threatened breach of confidentiality or the continuation of any such breach by you.
The Terms of Service are governed by the laws of the State of California. You agree to submit to the exclusive personal jurisdiction of the state and federal courts in the State of California except as detailed in the “Binding Arbitration” Section. If any provision of these Terms of Service is found to be invalid by a competent court, the invalidity of such provisions shall not affect the validity of the remaining provisions. Likewise, if we choose to terminate any provision in accordance with the termination provision, that termination shall not affect the termination of other provisions.
If we fail to act on or enforce, any provision in the Terms of Service, this shall not be construed as a waiver of that, or any other, provision. We will only grant waivers to specific provisions, for specific instances, in writing. The Terms of Service constitute the entire agreement between you and us with respect to this website and supersedes all previous or contemporaneous agreements. The section headings are merely provided for convenience and shall not be given any legal import. You may not assign your rights and obligations under these Terms of Service. The Terms of Service will inure to the benefit of our successors, assignees, licensees, and sublicensees.
Welcome to the Paystand DeFi Corporate Card Crypto Rewards Program (the “Rewards Program”)!
The Rewards Program is offered by Paystand, Inc (“Paystand”) and enables eligible Paystand customers to receive digital asset rewards (“Rewards”) on certain Qualifying Purchase Transactions (defined below) made using the DeFi Corporate Visa® Card (the “DeFi Card” or “Card”). The Card is issued by Evolve Bank & Trust, an FDIC-insured, Tennessee state-chartered industrial bank headquartered in Memphis, Tennessee (the “Bank”). Solid Inc (“Solid”) is the servicer of your DeFi Corporate Card, and Paystand is the servicer of this Rewards Program.
In these DeFi Corporate Card Crypto Rewards Program Terms and Conditions (the “Rewards Program Terms”), the words “we”, “us” and “our” each mean Paystandt. The words “you”, “your”, and “yours” mean each and all of those who apply for, sign, or use a DeFi Corporate Card and participate in the Rewards Program. “Digital asset” or “cryptocurrency” each mean a digital asset (also called a “virtual currency,” “digital currency,” or “virtual commodity”), such as bitcoin or ether, which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network.
We may, from time to time and in our sole discretion, amend, delete or add to these Rewards Program Terms and may change or limit any aspect of the Rewards Program and its restrictions, benefits or features, in whole or in part. Changes may include, but are not limited to, changing the definition of Qualifying Purchase Transactions, the distribution of Rewards, the imposition of an annual Rewards Program membership fee or of any fees associated with the Rewards Program, the percentage applied to calculate the amount of Rewards, the method used to calculate the amount of Rewards, the eligible digital assets in which to receive your Rewards, or the amount of digital assets that you may be eligible to receive. We will post any such changes to these Rewards Program Terms at https://www.paystand.com/virtual-card-terms-of-service. It is your responsibility to review these Rewards Program Terms (including the Incorporated Terms) for any such changes. We reserve the right to notify you of such changes via our website, or otherwise, but, other than as required by applicable law, we have no obligation to notify you of every update.
Any controversy, dispute or claim arising out of or relating to these Rewards Program Terms shall be subject to the dispute resolution provisions contained in the Dispute Resolution section of the Paystand terms of service (https://www.paystand.com/virtual-card-terms-of-service).
The Rewards Program may be terminated at any time for any reason without advance notice and will terminate automatically without notice in the event that Paystand permanently ceases to operate.
Eligibility and Enrollment
To be eligible to participate in the Rewards Program, you must have a DeFi Corporate Card Account). Your DeFi Corporate Card Account is subject to Paystand’s Terms of Service, available at https://www.paystand.com/virtual-card-terms-of-service. Paystand’s Terms of Service is a separate and independent agreement, and these Rewards Program Terms do not modify or supersede any terms of the DeFi Card’s User Agreement. In the event of a conflict between the DeFi Card’s User Agreement and these Rewards Program Terms, the DeFi Card’s User Agreement will govern, except the Rewards Program Terms will govern in any matter solely relating to the Rewards Program. Your DeFi Corporate Card Account includes a rewards account. To earn and access your Rewards, including to redeem Rewards, you must first successfully provide the required identification information pursuant to Paystand’s Terms of Service. Use of your DeFi Corporate Account (including the Rewards transferred to your DeFi Corporate Card Account) is governed by the Paystand Terms of Service.
To be eligible to participate in the Rewards Program, you must also be a cardholder of the DeFi Card. Your Cardholder Agreement (defined below) is a separate and independent agreement that governs the terms and conditions and use of your Card, and these Rewards Program Terms do not modify or supersede any terms of the Cardholder Agreement. In the event of a conflict between the Cardholder Agreement and these Rewards Program Terms, the Cardholder Agreement will govern, except the Rewards Program Terms will govern in any matter solely relating to the Rewards Program. When you are approved for your Card, your account (your “Card Account”) is automatically enrolled in the Rewards Program and will remain enrolled unless you fail to keep your Card Account active or we otherwise suspend, terminate, or disqualify your ability to receive Rewards or participate in the Rewards Program in accordance with these Rewards Program Terms.
If at any time your DeFi Card Accounts are not in Good Standing (defined below), Paystand, as the servicer of your Card Account, may suspend your ability to make transactions using your Card and, as a result, you will not be eligible to receive Rewards. If your DeFi Card Account is closed by us (or your Card Account is closed by the Bank), as applicable, because they are not in Good Standing or for any other reason you will no longer be eligible to receive Rewards.
Our failure or delay in enforcing any of your obligations, or exercising a right or remedy, does not amount to a waiver of that obligation, right or remedy. Additionally, if we waive a particular obligation in one circumstance, it does not prevent us from subsequently requiring compliance with the obligation on other occasions.
Upon approval of your Card, you will be eligible to receive Rewards for all Qualifying Purchase Transactions made using your Card. You will not be eligible to receive any Rewards if you do not make any Qualifying Purchase Transactions. Paystand will determine when and how much Rewards you are eligible to receive for each Qualifying Purchase Transaction. You can view your Rewards by logging into your Paystand DeFi Corporate Card Account and visiting the “Overview” or “Bitcoin Rewards” tabs of the Paystand Website.
When You Will Receive Your Rewards
There are two categories of Rewards: Instant Rewards and Post-Clear Rewards.
Instant Rewards: All Qualifying Purchase Transactions, other than transactions designated as eligible to receive Post-Clear Rewards (described below), are eligible for Instant Rewards. Paystand calculates Instant Rewards as of the authorization of a transaction using your Card, subject to any adjustments that are calculated when the Qualifying Purchase Transaction clears. For example, if you purchase goods in person or online at a retail store or website, Paystand may automatically transfer Instant Rewards to your Account when the Qualifying Purchase Transaction is initially authorized and is still processing but not yet posted to your Card. When the Qualifying Purchase Transaction posts to your Card and after as needed, Paystand will calculate to determine whether any adjustments are necessary (described in the How Your Rewards Will Be Calculated section below), and the final calculation of Rewards for the Qualifying Purchase Transaction will reflect this adjustment.
Post-Clear Rewards: Qualifying Purchase Transactions that are eligible to receive Rewards when the transaction clears are categorized as “Post-Clear Rewards”. The full list of categories (including merchants), or transactions that are only eligible for Post-Clear Rewards and not eligible for Instant Rewards is here and may be updated from time to time in Paystand’s sole discretion. Paystand calculates Post-Clear Rewards (and instructs us to deposit Post-Clear Rewards into your Digital Asset Account) only at the time the underlying Qualifying Purchase Transaction is posted to your Card Account. These categories of Qualifying Purchase Transactions include certain transactions made at hotels, gas stations, car rental agencies, and any other transactions that a merchant’s acquiring bank or payment processor specifies as a pre-authorization. A pre-authorization results in an authorization hold in which the merchant authorizes an electronic transaction of a specified amount (usually more than the expected transaction amount) and holds this balance until the transaction clears.
Example: A gas station may place a $50 hold when authorizing the card even if you only intend to purchase $20 worth of gas. The $50 hold will remain until the transaction clears and posts to your Account, which can take 24-72 hours. In this example, you will receive Rewards on the $20 worth of gas when it clears and posts to your Account (and you will not receive Rewards on the $50 authorization hold).
The transfer of Rewards to your Paystand Account from time to time may be delayed for any reason referenced in the Paystand Terms of Service, including for example, in the event of any scheduled maintenance, unscheduled downtime, market congestion, systems failure, mechanical or electronic failure, error, interruption, delay, or due to any other risk or circumstance resulting in the inability to transfer Rewards to your Account. In the event of any such delay, the transfer of Rewards will be completed at a reasonable time period after the reason causing the delay is resolved, and the conversion into the selected digital asset will be done at the time of such transfer. Value of Rewards is subject to market fluctuations.
How Your Rewards Will Be Calculated
Rewards Tiers: You will be eligible for Rewards for all Qualifying Purchase Transactions on a tiered basis, as follows:
Qualifying Purchase Transactions at Tier One Bonus Rewards Merchants
2% of the posted Qualifying Purchase Transaction amount on up $10,000 in the first 30 days of sign up, applied at the end of the 30 day period
All other Qualifying Purchase Transactions
1% of the posted Qualifying Purchase Transaction amount
Paystand’s calculation of eligible Rewards to be transferred to your Account will be calculated as follows. At all times, the value of Rewards is subject to standard market fluctuations.
The U.S. Dollar amount of each Qualifying Purchase Transaction (either at the time of authorization in the case of Instant Rewards, or at the time of clearing in the case of Post-Clear Rewards), is multiplied by the above-listed percentage corresponding to the transaction type.
This U.S. Dollar amount will be rounded up to the nearest cent but will not be less than one cent.
This U.S. Dollar amount is then converted into bitcoin at the time that you made the Qualifying Purchase Transaction.
The conversion will be made at the market price (as provided by Gemini Exchange) of bitcoin at the time Paystand bought bitcoin. The market price is calculated as the lowest sell order for that digital asset on Gemini Exchange’s order book at such time, or as otherwise reasonably calculated.
If the value of the digital asset calculated contains decimals beyond the number we support for that digital asset, it will be rounded up to the smallest decimal value we support for that cryptocurrency.
Such calculation and the amount of Rewards you are eligible to receive in your Digital Asset Account are subject to credits, adjustments, charges or corrections as described below.
Rewards Adjustment: If a credit is issued to your Card Account as provided below, Paystand will deduct the original U.S. Dollar amount of Rewards associated with that credit from the amount of Rewards associated with the next transaction, or transactions if necessary (a “Rewards Adjustment”). For clarity, you will not receive future Rewards in the amount of the Rewards Adjustment. After the Rewards Adjustment is complete for any given credit, you will continue to earn Rewards normally on future Qualifying Purchase Transactions. If you have a Rewards Adjustment at the time your Card Account is closed, you will remain obligated to pay the amount of the Rewards Adjustment, and Paystand may designate such amount as a Rewards Charge or a Rewards Correction. A Rewards Adjustment can occur in a number of circumstances, including the following:
You make a Qualifying Purchase Transaction using your Card and later make a return or a merchant otherwise credits your Card Account;
You make a Qualifying Purchase Transaction for which Instant Rewards were automatically transferred to your Digital Asset Account, but the value of such Qualifying Purchase Transaction when it clears and is posted to your Card Account is less than the value when the Qualifying Purchase Transaction was initially authorized;
You make a Qualifying Purchase Transaction for which Instant Rewards were automatically transferred to your Digital Asset Account, but such Qualifying Purchase Transaction ages off (i.e. does not clear or post to your Card Account) or does not clear or post to your Card Account within five days of the original Qualifying Purchase Transaction;
You successfully dispute a transaction for which you initially received Rewards, which results in a permanent credit being applied to your Card Account;
A transaction is made using your Card for which Rewards were transferred to your Digital Asset Account, and we later determine that such transaction is not a Qualifying Purchase Transaction;
A merchant erroneously charges you more than once for a Qualifying Purchase Transaction and Instant Rewards for such Qualifying Purchase Transaction were automatically transferred to your Digital Asset Account, and the Merchant later reverses the duplicate charge(s) prior to such transactions posting; or
You violate or we believe you are violating these Rewards Program Terms, including but not limited to, abusing or gaming the Rewards Program or fraudulent activity on your Card Account that is later reversed.
Example: You made a Qualifying Purchase Transaction of $100 and received a Reward of $2.00 converted into the digital asset in which you selected to receive Rewards at the time that you made the Qualifying Purchase Transaction. If you later return that purchase, Gemini Constellation will deduct $2.00 from the amount associated with future Reward(s) prior to converting it to a digital asset, resulting in a Rewards Adjustment. It is possible we may deduct from more than one future Reward to fully offset the credit.
If you make a Qualifying Purchase Transaction for which Instant Rewards were automatically transferred to your Digital Asset Account, but the value of such Qualifying Purchase Transaction when it clears and is posted to your Card Account is more than the value when the Qualifying Purchase Transaction was initially authorized, Paystand will treat this as a “Positive Rewards Adjustment”. In the event of a Positive Rewards Adjustment, Paystand will use the excess U.S. Dollar amount that is posted to your account when the Qualifying Purchase Transaction clears to calculate the excess Rewards owed and will send us instructions to deposit such amount as a Positive Rewards Adjustment.
Example: You made a Qualifying Purchase Transaction of $50 and received a Reward of $1.00 converted into the digital asset in which you selected to receive Rewards at the time that you made the Qualifying Purchase Transaction. If the Qualifying Purchase Transaction later clears with a final value of $60, Gemini Constellation will calculate the excess rewards owed on the $10 difference between the authorization amount and the posted amount and will send us instructions to deposit $0.20 converted into the digital asset in which you selected to receive Rewards at the time that you made the Qualifying Purchase Transaction.
Rewards Charge: In lieu of effecting a Rewards Adjustment, we and Gemini Constellation, as servicer of the Card and this Rewards Program, reserve the right to charge your Card Account in one or more transactions in an amount equal to the Rewards Adjustment (a “Rewards Charge”). A Rewards Charge may be incurred if you have a Rewards Adjustment which you do not complete (i.e. net out through one or more Qualifying Purchase Transactions) within a thirty (30) day period or if you have any outstanding Rewards Adjustments at the time your Card Account is closed. In addition, we and Gemini Constellation reserve the right to charge a Rewards Charge in the event you misuse the Rewards Program or as we or Gemini Constellation otherwise determine in accordance with these Rewards Program Terms. You hereby authorize any such Rewards Charge.
Example: You made a Qualifying Purchase Transaction of $100 and received a $2.00 Reward converted into the digital asset in which you selected to receive Rewards at the time that you made the Qualifying Purchase Transaction. If you later returned that purchase and incur a Rewards Adjustment but do not make any Qualifying Purchase Transactions in the next thirty days, we may charge your Card Account $2.00, in lieu of effecting a Rewards Adjustment.
Rewards Charges will be reflected on your monthly Card statement and any unpaid Rewards Charge remaining on your Card Account at the end of that cycle will be due in full as part of the minimum payment due on the next payment due date. Rewards Charges may be charged as separate transactions and/or may appear on a future monthly statement instead of the monthly statement on which the return or merchant credit is listed. The Bank will not charge interest on any Rewards Charge billed to your Card Account. If you fail to pay any Rewards Charge by the payment due date listed on your monthly statement, your Card Account will be considered delinquent and Paystand may exercise, in its capacity as Card servicer on behalf of the Bank, any of the Bank’s rights and remedies under the Cardholder Agreement. If you have a Rewards Charge at the time your Card Account is closed, you will remain obligated to pay such amount.
Rewards Correction: In addition, if Paystand mistakenly provides you with Rewards in an amount greater than you were entitled to, you agree that Paystand can, at its sole discretion, recover from your Account the excess amount that we transferred (a “Rewards Correction”), or seek a return of the Rewards Correction from you. If you have a Rewards Correction at the time your Card Account is closed, you will remain obligated to pay such amount either as a Rewards Correction or as a Rewards Charge.
Paystand reserves the right to determine whether a particular transaction meets the definition of a Qualifying Purchase Transaction and whether any Qualifying Purchase Transaction gives rise to a Rewards Adjustment, Rewards Charge or Rewards Correction. Paystand may recover any Reward if it determines that such Reward was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided when opening either of your DeFi Card Account, or that any terms of Paystand’s Terms of Service or these Rewards Program Terms have been violated.
How Rewards Are Paid
As long as your Card remains open and in good standing and you have spent at least $5,000 in 30 day time frame, you can request Paystand to sell your rewards at the applicable market price at the time of disbursement (subject to applicable spreads, charges, or fees) and calculated and paid to the one hundred millionth of the relevant unit of bitcoin. Any digits beyond that will be truncated; balances on Rewards Account statements will be truncated to eight decimal digits (one hundred millionth of a unit). Such Rewards will be deposited in USD into your linked bank account once at the end of each month, upon your request. Paystand will act as the holder of your Rewards Account.
Monitoring Your Rewards; Questions, Errors, and Disputes about Rewards
It is your responsibility to regularly monitor your Rewards, as well as your Card Account and billing statements.
If you believe that you are eligible for Rewards that you have not received, or that you received Rewards that were calculated erroneously or any other error in connection with your Rewards amount, you must report the possible error to Paystand promptly, but no later than 60 days after the date of the billing statement that you believe reflects the error. After this 60-day period, your Rewards as shown on such billing statement shall be deemed accurate, except that Paystand may affect a Rewards Adjustment, Rewards Charge or Rewards Correction if warranted for the reasons discussed in these Rewards Program Terms.
You may report the possible error or submit a dispute by emailing Paystand at email@example.com, Attn. Rewards Dispute.
To help Paystand resolve any errors, it may require you to submit documentation, which may include copies of receipts, invoices or purchase orders. We serve as the final record of your Rewards activity. In the event there is a discrepancy between your records and ours, the information from us shall be deemed correct. If we fail to credit, improperly deny, or improperly reverse Rewards that you are entitled to, then, subject to applicable law, your only remedy will be the issuance of the improperly denied or reversed Rewards calculated at the market price of bitcoin in the tranche Paystand purchased at, if available, or another alternative comparable benefit as we may determine in our sole discretion. Neither we, nor the Bank, nor Solid, nor any of our respective affiliates will have any other or additional liability to you or any other person whatsoever for any such errors.
Termination and/or Suspension of Rewards
It will be considered a misuse of the Rewards Program if we, as the servicer of the Rewards Program, identify, in our or their reasonable discretion, any:
Potentially fraudulent or suspicious activity with respect to the Rewards Program or your DeFi Card Account;
Potentially abusive or gaming behavior; or
Violation of the terms of Paystand’s Terms of Service, these Rewards Program Terms or the Gemini Trust User Agreement.
Any misuse of the Rewards Program is a violation of this Agreement and may also result in:
The forfeiture of any Rewards; or
The suspension or termination of your ability to receive Rewards; or
The suspension or termination or closure of your DeFi Card Accounts.
If your DeFI Card Account is otherwise in Good Standing but your ability to receive Rewards has been suspended or terminated, we will notify you by email or when accessing DeFi Card, or otherwise. In all other events, we, as the servicer of the Rewards Program, may, in our sole discretion, provide notice that any of the above actions have been taken and may, in our sole discretion, disclose the reasons for such action, if permitted to do so by law.
If your DeFi Card Account is not in Good Standing, access to and use of your DeFi Card Account (including Rewards deposited into your Gemini Trust Account) are at all times subject to the Paystand’s Terms of Service.
Your ability to participate in the Rewards Program ends when your DeFi Card Account is closed.
Rewards Limitations and Forfeiture
Transactions made with a lost, canceled, stolen, or fraudulent Card are not eligible for Rewards. In the event Rewards for a transaction made with a lost, canceled, stolen, or fraudulent Card are transferred to your Digital Asset Account, they will be treated as a Rewards Adjustment, Rewards Charge or Rewards Correction, as determined by Paystand.
Moreover, transactions made after the following events are not eligible for Rewards: (1) you file for bankruptcy, (2) you or Paystand close your DeFi Card Account, as applicable, (3) you fail to comply with Paystand’s Terms of Service or these Rewards Program Terms (4) Paystand believes that you have engaged in fraudulent activity related to your DeFi Card Account or the Rewards Program, (5) you are disqualified from participation in the Rewards Program pursuant these Rewards Program Terms. In the event Rewards for a transaction made in such circumstances are transferred to your DeFi Card Account, they will be treated as a Rewards Adjustment, Rewards Charge or Rewards Correction, as determined by Paystand.
You may not receive Rewards during any time in which you are delinquent in making payments on your Card Account, or during which your Card Account is not in Good Standing, unless determined otherwise in the sole discretion of Paystand.
Paystand, in its capacity as servicer of this Rewards Program, reserve the right to review your Gemini Accounts for compliance with Paystand’s Terms of Service, these Rewards Program Terms. In the event the review reveals any discrepancy in the Rewards transferred and credited to your DeFI Card Account, Rewards distribution may be delayed until such discrepancies are resolved.
Limitation of Liability
IN NO EVENT SHALL PAYSTAND, NOR OUR AFFILIATES, DIRECTORS, EMPLOYEES, AGENTS, PARTNERS, NOR ANY OF OUR OR THEIR SUPPLIERS (INCLUDING PAYMENT CARD NETWORKS AND PAYMENT PROCESSORS) OR CONTENT PROVIDERS NOR THE BANK, BE LIABLE UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY WITH RESPECT TO THE REWARDS PROGRAM OR THE REWARDS (I) FOR ANY LOST PROFITS, DATA LOSS, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, EXEMPLARY, COMPENSATORY OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (HOWEVER ARISING), (II) FOR ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE (REGARDLESS OF THE SOURCE OF ORIGINATION), OR (III) FOR ANY DIRECT DAMAGES IN EXCESS OF (IN THE AGGREGATE) THE VALUE OF ANY OF YOUR ALLEGEDLY LOST REWARDS AMOUNT IN THE CUSTODY OF GEMINI AT THE TIME OF LOSS.
YOU AGREE AND UNDERSTAND THAT NEITHER WE NOR OUR AFFILIATES, DIRECTORS, EMPLOYEES, AGENTS, PARTNERS, NOR ANY OF OUR OR THEIR SUPPLIERS (INCLUDING PAYMENT CARD NETWORKS AND PAYMENT PROCESSORS) OR CONTENT PROVIDERS NOR THE BANK, SHALL BE LIABLE FOR DELAYS OR INTERRUPTIONS IN THE TRANSFER OF YOUR REWARDS TO YOUR DIGITAL ASSET ACCOUNT CAUSED BY AUTOMATED OR OTHER COMPLIANCE CHECKS OR FOR OTHER REASONABLE DELAYS OR INTERRUPTIONS IN SERVICE, BY DEFINITION TO INCLUDE ANY DELAY OR INTERRUPTION SHORTER THAN ONE WEEK, OR DELAYS OR INTERRUPTIONS IN SERVICE BEYOND THE CONTROL OF GEMINI OR ITS SERVICE PROVIDERS.
THE REWARDS PROGRAM, REWARDS AND ALL CONTENT IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE REWARDS PROGRAM, REWARDS AND CONTENT ARE PROVIDED WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES IMPLIED BY ANY COURSE OF PERFORMANCE OR USAGE OF TRADE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. GEMINI TRUST AND ITS AFFILIATES, LICENSORS AND OUR AND THEIR SUPPLIERS (INCLUDING PAYMENT CARD NETWORKS AND PAYMENT PROCESSORS) AND BANK DO NOT WARRANT THAT: (1) THE CONTENT IS TIMELY, ACCURATE, COMPLETE, RELIABLE OR CORRECT; (2) THE REWARDS PROGRAM WILL BE SECURE OR AVAILABLE AT ANY PARTICULAR TIME OR LOCATION; (3) ANY DEFECTS OR ERRORS WILL BE CORRECTED; (4) THE CONTENT IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS; OR (5) THE RESULTS OF USING OR PARTICIPATING IN THE REWARDS PROGRAM WILL MEET YOUR REQUIREMENTS. YOUR USE OR PARTICIPATION OF THE REWARDS PROGRAM IS SOLELY AT YOUR OWN RISK.
You shall defend, indemnify, and hold harmless us and our affiliates, the Bank, third-party service providers, directors, officers, employees, contractors and suppliers from and against any loss, damage, liability, claim, cost or expense of any kind, including reasonable attorneys’ fees, that arise from your use of the Rewards Program, any fraud or misuse of the Rewards Program, violation of these Rewards Program Terms, infringement of any intellectual property, and/or violation of any applicable law or the rights of any third party. We reserve the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you will assist and cooperate with us in asserting any available defenses.
If you are a California resident, you waive California Civil Code Section 1542, which states:
“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”
If you are a resident of another jurisdiction, you waive any comparable statute or doctrine.
These Rewards Program Terms, your rights and obligations, and all actions contemplated by, arising out of or related to these Rewards Program Terms shall be governed by the laws of the State of California, as if these Rewards Program Terms is a contract wholly entered into and wholly performed within the State of California.
You agree and understand that all provisions of these Rewards Program Terms, which by their nature extend beyond the termination or expiration of these Rewards Program Terms, including, but not limited to, sections pertaining to suspension, investigations, remedies for breach, termination, debts owed, right to offset, unclaimed funds, disputes with us, and general provisions, shall survive the termination or expiration of these Rewards Program Terms.
Section headings in these Rewards Program Terms are for convenience only, and do not govern the meaning or interpretation of any provision of these Rewards Program Terms. Unless the express context otherwise requires: (i) the words “hereof,” “herein,” “hereunder” and words of similar import, when used in these Rewards Program Terms, shall refer to these Rewards Program Terms as a whole and not to any particular provision of these Rewards Program Terms; (ii) the terms defined in the singular have a comparable meaning when used in the plural and vice versa; (iii) wherever the word “include,” “includes” or “including” is used in these Rewards Program Terms, it shall be deemed to be followed by the words “without limitation”; (iv) the word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends and such phrase shall not mean simply “if”; and (v) the word “or” shall not be interpreted to be exclusive.
Other Important Information You Should Know
Entire Agreement. These Rewards Program Terms, as well as the Incorporated Terms incorporated by reference herein, comprise the entire understanding and agreement entered into by and between you and Paystand as to the Rewards Program, and supersede any and all prior discussions, agreements, and understandings of any kind (including without limitation any prior versions of these Rewards Program Terms, as well as every nature between and among you and us.
Rights to Rewards. You acknowledge and agree that Paystand, in its capacity as servicer of this Rewards Program, have sole discretion in the administration of this Rewards Program and that you have no rights to any Rewards unless and until such Rewards are deposited in your DeFi Card Account, subject to any credits or reversals or setoffs as described herein.
Termination. The Rewards Program may be terminated at any time for any reason without advance notice and will terminate automatically without notice in the event the Gemini exchange permanently ceases to operate. All decisions by Gemini Trust and Gemini Constellation, in its capacity as servicer of this Rewards Program, regarding the Rewards Program are final.
Taxes. You are responsible for any tax liability you incur related to your participation in the Rewards Program. Please consult your tax advisor concerning any such income or other tax consequences.
Rewards Program Assistance and Website. If you have questions regarding your Rewards or the Rewards Program, you can contact Paystand at firstname.lastname@example.org, Attn. Rewards Dispute.
Operation and Administration. Paystand offers the Rewards Program and is responsible for the operation and administration of the Rewards Program.
Good Standing means:
With respect to your Card Account: Your Card Account privileges and/or your right to use the Card have not been suspended, revoked, closed, canceled or terminated for any reason and/or your Card Account is not in default for any reason, in each case as explained in the Cardholder Agreement.
Qualifying Purchase Transaction(s) means the dollar amount of purchases of goods or services you make with your Card, including sales tax. The following transactions are NOT considered purchases and are NOT Qualifying Purchase Transactions and you will NOT be eligible to receive Rewards for such transactions:
Card Account fees;
Cash advance transactions ;
Transactions to obtain gift cards, prepaid debit cards, traveler’s checks, precious metals, casino chips, cryptocurrency, lottery tickets or other cash equivalents;
Credit card convenience checks;
Reloading of prepaid cards or other cash equivalents;
Illegal, fraudulent or unauthorized transactions or other prohibited uses under your Cardholder Agreement;
Credits for returned merchandise or for account adjustments;
Rewards Charges and any other payment toward your Card balance; and
Transactions made when your Card Account is not in Good Standing.
Paystand, in its capacity as the servicer of the Rewards Program, reserves the right to determine in its sole discretion whether a particular transaction is a Qualifying Purchase Transaction and may establish additional exclusions at any time. All Qualifying Purchase Transactions, credits and adjustments are subject to verification.
Effective Date: May 1, 2021
Solid Financial Technologies, Inc. “Solid” ("Company", "we", or "us") respect your privacy and are committed to protecting it through our compliance with this policy.
This policy describes the types of information we may collect from you or that you may provide when you visit the website solidfi.com, or interact with us via the Solid Banking App, Solid Banking Services, Solid Dashboard, Facebook, Instagram, Twitter, or LinkedIn (our "Website") and our practices for collecting, using, maintaining, protecting, and disclosing that information.
This policy applies to information we collect:
It does not apply to information collected by:
Children Under the Age of 18
Our Website is not intended for children under 18 years of age. No one under age 18 may provide any information to the Website. We do not knowingly collect personal information from children under 18. If you are under 18, do not use or provide any information on this Website or through any of its features, register on the Website, make any purchases through the Website, use any of the interactive or public comment features of this Website, or provide any information about yourself to us, including your name, address, telephone number, email address, or any screen name or user name you may use. If we learn we have collected or received personal information from a child under 18 without verification of parental consent, we will delete that information. If you believe we might have any information from or about a child under 18, please contact us at email@example.com.
Information We Collect About You and How We Collect It
We collect several types of information from and about users of our Website, including information:
We collect this information:
Information You Provide to Us
The information we collect on or through our Website may include:
You also may provide information to be published or displayed (hereinafter, "posted") on public areas of the Website, or transmitted to other users of the Website or third parties (collectively, "User Contributions"). Your User Contributions are posted on and transmitted to others at your own risk. Although we limit access to certain pages, please be aware that no security measures are perfect or impenetrable. Additionally, we cannot control the actions of other users of the Website with whom you may choose to share your User Contributions. Therefore, we cannot and do not guarantee that your User Contributions will not be viewed by unauthorized persons.
Information We Collect Through Automatic Data Collection Technologies
As you navigate through and interact with our Website, we may use automatic data collection technologies to collect certain information about your equipment, browsing actions, and patterns, including:
The information we collect automatically does include personal information, and we may maintain it or associate it with personal information we collect in other ways or receive from third parties. It helps us to improve our Website and to deliver a better and more personalized service, including by enabling us to:
The technologies we use for this automatic data collection may include:
How We Use Your Information
We use information that we collect about you or that you provide to us, including any personal information:
Disclosure of Your Information
We may disclose aggregated information about our users, and information that does not identify any individual, without restriction.
We may also disclose your personal information:
Choices About How We Use and Disclose Your Information
We strive to provide you with choices regarding the personal information you provide to us. We have created mechanisms to provide you with the following control over your information:
We do not control third parties' collection or use of your information to serve interest-based advertising. However these third parties may provide you with ways to choose not to have your information collected or used in this way. You can opt out of receiving targeted ads from members of the Network Advertising Initiative ("NAI") on the NAI's website.
California residents may have additional personal information rights and choices. Please see Your California Privacy Rights for more information.
Your California Privacy Rights
If you are a California resident, California law may provide you with additional rights regarding our use of your personal information.
California's "Shine the Light" law (Civil Code Section § 1798.83) permits users of our Website that are California residents to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes. To make such a request, please send an email to firstname.lastname@example.org
We have implemented commercially reasonable measures designed to secure your personal information from accidental loss and from unauthorized access, use, alteration, and disclosure.
The safety and security of your information also depends on you. Where we have given you (or where you have chosen) a password for access to certain parts of our Website, you are responsible for keeping this password confidential. We ask you not to share your password with anyone.
Unfortunately, the transmission of information via the internet is not completely secure. Although we make efforts to protect your personal information, we cannot guarantee the security of your personal information transmitted to our Website. Any transmission of personal information is at your own risk. We are not responsible for circumvention of any privacy settings or security measures contained on the Website.
Last updated: 05/01/21
This Website is offered and available to users who are 18 years of age or older and reside in the United States or any of its territories or possessions. By using this Website, you represent and warrant that you are of legal age to form a binding contract with the Company and meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the Website.
Accessing the Website and Account Security
We reserve the right to withdraw or amend this Website, and any service or material we provide on the Website, in our sole discretion without notice. We will not be liable if for any reason all or any part of the Website is unavailable at any time or for any period. From time to time, we may restrict access to some parts of the Website, or the entire Website, to users, including registered users.
You are responsible for both:
If you choose or are provided with, a user name, password, or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Website or portions of it using your user name, password, or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.
Intellectual Property Rights
The Website and its entire contents, features, and functionality (including but not limited to all information, software, text, displays, images, video, and audio, and the design, selection, and arrangement thereof) are owned by the Company, its licensors, or other providers of such material and are protected by the United States and international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.
You must not:
You must not access or use for any commercial purposes any part of the Website or any services or materials available through the Website.
The Company name, the Company logo, and all related names, logos, product and service names, designs, and slogans are trademarks of the Company or its affiliates or licensors. You must not use such marks without the prior written permission of the Company. All other names, logos, product and service names, designs, and slogans on this Website are the trademarks of their respective owners.
Additionally, you agree not to:
The Website may contain message boards, chat rooms, personal web pages or profiles, forums, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Website.
Any User Contribution you post to the site will be considered non-confidential and non-proprietary. By providing any User Contribution on the Website, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material for any purpose.
You represent and warrant that:
You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness.
We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Website.
Monitoring and Enforcement; Termination
We have the right to:
Without limiting the foregoing, we have the right to cooperate fully with any law enforcement authorities or court order requesting or directing us to disclose the identity or other information of anyone posting any materials on or through the Website. YOU WAIVE AND HOLD HARMLESS THE COMPANY AND ITS AFFILIATES, LICENSEES, AND SERVICE PROVIDERS FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY ANY OF THE FOREGOING PARTIES DURING, OR TAKEN AS A CONSEQUENCE OF, INVESTIGATIONS BY EITHER SUCH PARTIES OR LAW ENFORCEMENT AUTHORITIES.
However, we do not undertake to review material before it is posted on the Website, and cannot ensure prompt removal of objectionable material after it has been posted. Accordingly, we assume no liability for any action or inaction regarding transmissions, communications, or content provided by any user or third party. We have no liability or responsibility to anyone for the performance or nonperformance of the activities described in this section.
These content standards apply to any and all User Contributions and use of Interactive Services. User Contributions must in their entirety comply with all applicable federal, state, local, and international laws and regulations. Without limiting the foregoing, User Contributions must not:
Reliance on Information Posted
The information presented on or through the Website is made available solely for general information purposes. We do not warrant the accuracy, completeness, or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the Website, or by anyone who may be informed of any of its contents.
This Website may include content provided by third parties, including materials provided by other users, bloggers, and third-party licensors, syndicators, aggregators, and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
Changes to the Website
We may update the content on this Website from time to time, but its content is not necessarily complete or up-to-date. Any of the material on the Website may be out of date at any given time, and we are under no obligation to update such material.
Information About You and Your Visits to the Website
Linking to the Website and Social Media Features
You may link to our homepage, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval, or endorsement on our part without our express written consent.
This Website may provide certain social media features that enable you to:
You may use these features solely as they are provided by us, and solely with respect to the content, they are displayed with, and otherwise in accordance with any additional terms and conditions we provide with respect to such features. Subject to the foregoing, you must not:
You agree to cooperate with us in causing any unauthorized framing or linking immediately to stop. We reserve the right to withdraw linking permission without notice.
We may disable all or any social media features and any links at any time without notice in our discretion.
Links from the Website
If the Website contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third-party websites linked to this Website, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.
The owner of the Website is based in the State of California in the United States. We provide this Website for use only by persons located in the United States. We make no claims that the Website or any of its content is accessible or appropriate outside of the United States. Access to the Website may not be legal by certain persons or in certain countries. If you access the Website from outside the United States, you do so on your own initiative and are responsible for compliance with local laws.
Disclaimer of Warranties
You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the Website will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data. TO THE FULLEST EXTENT PROVIDED BY LAW, WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA, OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.
YOUR USE OF THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE IS AT YOUR OWN RISK. THE WEBSITE, ITS CONTENT, AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY, OR AVAILABILITY OF THE WEBSITE. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE WEBSITE, ITS CONTENT, OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL BE ACCURATE, RELIABLE, ERROR-FREE, OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS, OR THAT THE WEBSITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.
TO THE FULLEST EXTENT PROVIDED BY LAW, THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, AND FITNESS FOR PARTICULAR PURPOSE.
THE FOREGOING DOES NOT AFFECT ANY WARRANTIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
Limitation on Liability
TO THE FULLEST EXTENT PROVIDED BY LAW, IN NO EVENT WILL THE COMPANY, ITS AFFILIATES, OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE WEBSITE, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE WEBSITE OR SUCH OTHER WEBSITES, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE.
The limitation of liability set out above does not apply to liability resulting from our gross negligence or willful misconduct.
THE FOREGOING DOES NOT AFFECT ANY LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be determined by final and binding arbitration administered by the American Arbitration Association (”AAA”) under its Commercial Arbitration Rules and Mediation Procedures (”Commercial Rules”) including, if appropriate, the Procedures for Large, Complex Commercial Disputes. Authority of tribunal, judicial review.
The award rendered by the arbitrators shall be final, non-reviewable, non-appealable and binding on the parties and may be entered and enforced in any court having jurisdiction. There shall be three arbitrators agreed to by the parties within thirty (30) days of receipt by respondents of the request for arbitration or, in default of such agreement, by the AAA. The seat or place of arbitration shall be San Mateo, California. The arbitration shall be conducted and the award shall be rendered in the english language.
Except as may be required by law, neither a party nor the arbitrators may disclose the existence, content or results of any arbitration without the prior written consent of both parties, unless to protect or pursue a legal right. The arbitrators will have no authority to award punitive damages, consequential damages, or liquidated damages.
Class Actions and Collective Actions
The parties expressly agree and intend that:
Notwithstanding anything to the contrary in the AAA Arbitration Rules, and the general grant of authority to the arbitrators by this agreement of the power to determine issues of arbitrability, the arbitrators shall have no jurisdiction or authority to compel any class or collective claim, to consolidate different arbitration proceedings, or to join any other party to an arbitration between the parties. The arbitrators shall have the authority to determine the enforceability of this class and collective action and arbitration waiver.
Governing Law and Jurisdiction
Limitation on Time to File Claims
Waiver and Severability
Your Comments and Concerns
This website is operated by Solid Financial Technologies, Inc., 2955 Campus Dr, #110, San Mateo California 94403.
All other feedback, comments, requests for technical support, and other communications relating to the Website should be directed to: email@example.com
Last updated: 10/22/21
This document, as amended or supplemented by the attached disclosures and pricing guides, (collectively, the “Account Terms”) contains the general terms, conditions and disclosures for the Evolve Bank & Trust transaction account (the “Account”) and constitutes an agreement between the Bank (as defined below) and you. For purpose of these Account Terms, the term “Account” may also collectively include Sub-Deposit Accounts.
References to the “Bank,” “we,” “us,” or “our” means Evolve Bank & Trust and any of its affiliates. References to “you” and “your” means any person or entity that holds, owns or has authority to use, whether individually or on behalf of another person or entity, the Account. The Account Terms may be supplemented or amended as set forth in Section V(E) (Miscellaneous Terms). Bank services and access and use of your Account may be provided to you through the website and/or mobile phone application of our service provider (the “Service Provider,” and its website and mobile phone application, the “Service Provider Platform”). The Service Provider may offer you additional services through its Service Provider Platform, pursuant and subject to the terms and conditions between you and the Service Provider (the “Services” and such terms and conditions, the “Service Provider Terms”). Please see Section II (The Account) for additional information.
By opening or continuing to maintain an Account with us, you agree to be bound by these Account Terms, and all applicable agreements, disclosures, and other documents, as well as by all applicable federal or state laws, statutes and regulations. Please keep a copy of these Account Terms.
We may decline to open an Account for any reason, or for no reason. We are not liable for any damages or liabilities resulting from refusal of an Account relationship.
THESE ACCOUNT TERMS IS SUBJECT TO MANDATORY ARBITRATION PURSUANT TO THE FEDERAL ARBITRATION ACT AND A WAIVER OF CLASS ACTION AND JURY PROVISION. PLEASE CAREFULLY READ SECTION IV (ARBITRATION AND WAIVERS).
You must also agree to go paperless. This means that: (1) you must keep us supplied with your valid email address and telephone number; and (2) you must agree to accept electronic delivery of all communications that we need or decide to send you. Please see the Evolve Bank & Trust Electronic Communication Consent for additional details.1
The Account is a transaction account that pays a variable rate of interest and allows you to make certain payments and transfers to third parties. The Account is a business account that may be used only for business purposes. The Account may not be opened as a joint account.
You cannot give a security interest or pledge your Account to someone other than us without first getting our express written consent. We are not required to give consent to a security interest or pledge to someone else. Unless we agree in a separate writing
1 Note: Hyperlink this to the appropriate document.
otherwise a security interest or pledge to someone else must be satisfied or released before any right to withdraw from the account can be exercised.
We reserve the right to require the Account holder(s) to furnish us with such resolutions, agreements or documents as we may reasonably request to evidence the authority of individuals to act on behalf of the Account holder(s). We will honor such an authorization until we receive written notice of change from the governing body of the organization. It is mutually agreed that the power and authority of each person named as authorized to take action with respect to the Account shall continue in full force and effect until we receive actual written notice of revocation, whether the same be brought about by dissolution of the Account holder or otherwise.
By opening an Account, you agree that we can gather personal information about you and/or your beneficial owners from oneor more consumer reporting agencies, governmental entities and/or other third parties. You also agree that we have the right to access follow-up consumer reports while your Account is open for maintenance, review or collection purposes.
Your Account will not be considered "opened" until it is funded. This means your balance must be at least a penny. Once your account is considered “opened,” there is no minimum balance required and no maximum balance limit. However, we may, at our sole discretion and at any time, require a minimum balance and set a maximum balance limit.
To the fullest extent permitted by law, we will not have any liability in connection with the Services and disclaim all warranties, either express or implied or statutory, including, but not limited to, any implied warranties of merchantability, fitness for a particular purpose and lack of viruses related to the Services. In no event shall we be liable for: (1) damages caused other than by our own gross negligence or intentional misconduct; or (2) indirect, special, incidental, consequential or punitive damages whatsoever (including, but not limited to, damages for lost profits, disclosure of confidential information, or loss of privacy) arising out of or in any way related to the use of or inability to use the Services, even if we have been advised of the possibility of such damages.
III. Using Your Account and Account Disclosures.
The Card may be used to initiate withdrawals at ATMs and points of sale and may be used to purchase goods and services. By using your Card, you authorize us and/or our agents to debit your Account. We reserve the right to refuse to make any transfer for security, credit, legal/regulatory, or other reasons, as we determine in our sole discretion. You are responsible for all transactions you authorize using the Card, including any losses, charges, or penalties incurred as a result. You may be charged for your use of the Card at ATMs. The Card is the property of the Bank, and if your Account is closed or your Card privileges are cancelled, you agree to stop using the Card and destroy it.
Credentials by another person will be as effective as your use of the Credentials, regardless of whether the person affixing the Credential was authorized by you and regardless of the means by which the Credential was affixed. For example, if you provide your username and password used to access the Service Provider Platform to another person and that person uses that information to withdraw funds from your Account, we will deem the withdrawal to be authorized by you. Unless prohibited by applicable law, you agree to hold us harmless and indemnify us for any liability incurred for reasonably acting upon such instructions which bear any of your Credentials.
We use automated systems to process transactions and then to post transactions to your Account. When we process multiple transactions for your Account on the same day, you agree that we may in our discretion determine our posting orders for the transactions and that we may credit, authorize, accept, pay, decline or return credits, debits and holds in any order at our option.
We generally post common transaction as follows. We group the different types of transactions into categories. We use several different categories for holds, credits, and debits. Most categories include more than one transaction type. After the end of the business day, our automated systems assign each transaction received for that day to a category. We generally post
all transactions within a category, using the posting order or orders that apply to that category, before we post any transactions assigned to the next category.
First, we start with the balance in your Account at the beginning of the business day, subtract holds from your balance, and make any adjustments from prior days. Next, we generally add available deposits and credits to your balance and then subtract debits from your balance based on the debit category. We subtract debits in a category from your balance in order from the highest to lowest dollar amount, unless specified otherwise herein. The first category of debits to be applied against your balance are certain Card and ATM transactions (e.g., Card transactions and ATM withdrawals and transfers). The debits within this category are subtracted from your balance in date and time order our systems receive date and time information. If we make checks available to you, this category is applied next against your balance. Check posting will be in sequential order based on the check number, and for any check for which the number cannot be read, from highest to lowest amount following the posting of number legible checks. We then subtract from your balance any other types of electronic debits in order from the highest to lowest dollar amount. These debits include ACH Transfers. Finally, we subtract from your balance most fees (such as monthly maintenance fees, overdraft fees, returned item fees, and ATM fees) in order from highest to lowest dollar amount. Some fees may show as “processing” until the next day.
debits, when the transaction occurs after the cutoff time for the business day, but during the same calendar day: cash withdrawals made at an ATMs and any credit-push ACH Transfers of EFTs.
to your Sub-Deposit Account pursuant to this subsection. You consent to us placing funds with Insured Depository Institutions. If you do not consent to our placement of funds with Insured Depository Institutions, you should not open an Account or deposit funds with us.
The Sub-Deposit Account will be established by an Insured Depository Institution that has entered into agreements with us. Your funds in the Sub-Deposit Account will bear the interest rates and APY you have agreed to with us (if any). All payments with respect to the Sub-Deposit Account by the Insured Depository Institutions will be made to us, and we will credit the funds to your Account.
Your only rights with respect to the Sub-Deposit Account is to demand we repay you all amounts in your Account, including those transferred to the Sub-Deposit Account. The Sub-Deposit Account may not be transferred to another institution, except by us or the Insured Depository Institution. You may terminate our role as your agent/custodian and our ability to deposit funds you provide us in the Sub-Deposit Account. Any termination will result in a return of funds in accordance with law and closing of your Account and any Sub-Deposit Account opened specifically for you.
When we place funds with Insured Depository Institution and act as your agent with respect to the Sub-Deposit Account, we will ensure the records of the Insured Depository Institution are in our name, as agent or custodian. The funds deposited in the Sub-Deposit Account will be FDIC insured to the same extent as if such funds were held in the Account with us. In other words, the depositing of your funds into the Sub-Deposit Account will not otherwise increase your FDIC deposit insurance coverage. You will not receive any written confirmation of the establishment of the Sub-Deposit Account or transfer of funds to the Sub-Deposit Account; instead, we will maintain
records clearly indicating the transfer and beneficial ownership of the Sub-Deposit Account. You must immediately report to us any changes in Account ownership information that you originally provided to us in connection with the submission of your application for an Account.
Our placing of funds may reflect considerations of federal and state law, our funding needs and funding needs of Insured Depository Institutions, general economic conditions or other factors determined by us in our sole discretion. We will not place funds with more than one Insured Depository Institution. We may place funds to enhance our business objectives and for balance sheet management without any benefit to you, including increased FDIC deposit insurance coverage. Further, we may receive greater benefits when we
place your funds with an Insured Depository Institution than if we otherwise maintained your funds with us. We are under no obligation to place your funds with an Insured Depository Institution.
A Sub-Deposit Account will be a deposit obligation of the Insured Depository Institution that maintains the Sub-Deposit Account; provided, this does not modify our obligation to repay all amounts you deposited in your Account.
All deposits that are maintained with an Insured Depository Institution in the Sub-Deposit Account are aggregated with deposits maintained in your Account with us for purposes of the SIA. Funds you hold in one or more Accounts with us (including funds we maintain before placement with Insured Depository Institution), funds in the Sub-Deposit Account and any funds resulting from payment of interests on an Sub- Deposit Account will be aggregated for FDIC insurance purposes with all other deposits you hold in deposit accounts with us in the same ownership category and therefore may not be fully insured by the FDIC. For the avoidance of doubt, funds deposited in the Sub-Deposit Account will be treated as funds on deposit in the Account with us for FDIC insurance calculation purposes. As such, your total FDIC deposit insurance coverage for funds you provide us for deposit in your Account will not be increased by nature of any deposit of funds in the Sub-Deposit Account. Please see subjection J above for additional information on determining SIA.
We may provide your name, tax identification number and other pertinent identifying information to Insured Depository Institution, and other parties providing services in connection with the placement of your funds and the establishing and holding the Sub-Deposit Account. You hereby consent to such release of information. Nothing in this section shall be deemed to prevent us from disclosing information to a third party if required by law.
We will act as your agent in connection with the placement of your funds with the Insured Depository Institution and the establishment and maintenance of the Sub-Deposit Account. Although we will act as your limited agent in connection with the placement of your funds, we are not acting as your financial adviser. See subsection A of Section V for additional information. You hereby appoint us to act as your agent for purposes of placing funds with Insured Depository Institutions and establishing and maintaining, on your behalf, the Sub-Deposit Account. You further authorize us to collect for you all interest and other payments related to an Sub- Deposit Account, to place funds with Insured Depository Institution pursuant to the terms set forth herein, and to execute and deliver or file on your behalf all appropriate receipts, agreements, releases and other instruments, including whatever agreements may be required from Insured Depository Institution, for the purpose of establishing your ownership interest in the Sub-Deposit Account and maintaining an Sub Deposit Account.
Although there are two or more accounts associated with your funds (the account maintained with us, referred to as the Account, and the Sub-Deposit Account), your Account is considered a single account for your deposits and withdrawals, as well as for tax reporting, balance requirement, service charge, monthly statement and FDIC deposit insurance purposes. The existence of the Sub-Deposit Account and any other account maintained by us pursuant to these Account Terms is for internal purposes and will not change the manner in which you use, obtain information about or earn interest (if any) on your Account. These transfers, including the placement transfer, will not appear on your monthly statement.
cent accrued during a monthly interest period is rounded down to zero. Interest is compounded daily and credited to your Account monthly. Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal and interest that has accrued in the Account each day. This means that the interest from your Account is calculated every day on a 365-day year (and 366-day for leap year). Interest begins to accrue on the business day that we receive your deposit. If the Account is closed before interest is credited, accrued interest will be paid through the last full day before the day the Account is closed. The rate at which interest may be paid on the principal balance of the Account, and the corresponding APY at which the Account would earn interest each year if all interest paid on the Account remains in the Account, can be found on the Service Provider Platform, which may be modified by from time to time in our sole discretion. We may, at our discretion, at any time, change the interest rate and the APY.
property to secure your Account above the amount of any deposit insurance on your Account), you agree to reimburse us for the additional costs and any expenses incurred by us (including legal fees) to implement such required changes as to your Account.
We reserve the right (but are not obligated) to monitor all Account activity for inappropriate use. We can close your Account at any time, for any reason, without advance notice. If we close your Account, we will notify you by mail, electronically or by telephone that we have closed your Account unless your Account has had a zero balance for thirty (30) days or more. If we close your Account, all collected funds (less any amounts due to us or for debits in process) will be transferred to your Linked Account. Alternatively, we may, at our
discretion, mail you a check for the available balance in your Account. Written notice that the Account has been closed and a check, if any, will be sent to any address shown on our records for you, or if the Account is a jointly owned, to any account owner to whom we elect to send it. Once we have closed your Account, you agree that we can assess any service charge otherwise applicable against any remaining balance in your Account. We are not responsible to you for any damages you may suffer as a result of your Account being
closed. If you attempt to make a deposit to an Account we closed, we may collect the deposit and set-off your indebtedness to us. Any funds in excess of $1.00 will be returned to you.
State laws (called "escheat" or unclaimed property laws) require us to close your Account and transfer your money to the state if your Account is dormant for a period of time as defined by your state of residence. Your Account can become dormant if, for 24 months, there is no transactional activity. If your Account becomes dormant, you may no longer receive statements, but you can still view your accounts online.
State abandoned property law establishes guidelines under which unclaimed property must be surrendered to the applicable state. Generally, the funds in your Account are considered unclaimed if you have not had any activity or communication with us regarding your Account over a period of years, defined by your state of residence. All products offered by us are subject to abandoned property laws. If your funds are surrendered to the state, you may be able to reclaim them, but your claim may need to be presented to the state. You can avoid the transfer of your money to the state simply by signing into your Account, transacting periodically, or contacting us, or replying to any abandoned property correspondence.
You agree to be responsible for any transaction initiated with the use of a valid Credentials or any access device. Bank shall have no liability for any loss, claim, or damage sustained as a result of the use of your Credentials or access device whether such transaction was authorized or not and agree to indemnify and hold harmless Bank for any such transaction alleged to be unauthorized.
network rules. If you choose not to receive your statements, you remain responsible to review and report any errors. If you are absent from your Account mailing address, you are responsible to make arrangements to have your statements reviewed for errors and report them in a timely manner.
THIS ARBITRATION PROVISION WILL HAVE A SUBSTANTIAL IMPACT ON HOW LEGAL DISPUTES BETWEEN YOU AND US ARE RESOLVED. PLEASE READ THIS SECTION IV (ARBITRATION AND WAIVERS) CAREFULLY. For a dispute subject to arbitration, neither you nor we will have the right to: (A) have a court or a jury decide the dispute; (B) engage in information-gathering (discovery) to the same extent as in court; (C) participate in a class action in court or in class arbitration; or (D) join or consolidate a claim with claims of any other persons. Arbitration procedures are simpler and more limited than rules applicable in court. The decision of the arbitrator is final and binding.
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 $25,000 or involves a request for injunctive or declaratory relief that could foreseeably involve a cost or benefit to either party exceeding $25,000, any party can, within thirty (30) days after the entry of the award by the arbitrator, appeal the award to a three-arbitrator panel administered by the forum. The panel shall reconsider anew all factual and legal issues, following the same rules of procedure and decide by majority vote. Reference in this Section IV (Arbitration and Waivers) to “the arbitrator” shall mean the panel if an appeal of the arbitrator’s decision has been taken.
In the event that JAMS or the AAA is unable to handle the dispute for any reason, then the matter shall be arbitrated instead by a neutral arbitrator selected by agreement of the parties pursuant to the AAA rules of procedure; or, if the parties cannot agree, selected by a court in accordance with the Federal Arbitration Act (Title 9 of the United States Code) (“FAA”). To the extent that there is any variance between the selected forum’s rules and this Section IV (Arbitration and Waivers), this Section IV (Arbitration and Waivers) shall control.
If you initiate the arbitration, you must notify us in writing at: [INSERT ADDRESS]. If we initiate the arbitration, we will notify you in writing at your last known address in our file.
that you may suffer or incur, directly or indirectly, as a result of the unavailability of access to your Account, regardless of whether it could be shown that we could have prevented or reduced the duration of such unavailability by taking any action within our reasonable control. We shall also not be responsible for any loss, damages, costs or expenses which you may suffer or incur, directly or indirectly, as a result of your inability to access your Account caused directly or indirectly, in whole or in part, by your computer or mobile device, your inability to establish a connection to or to access the Internet, or other limitations or constraints of the Internet. The provisions set forth in this section shall apply in addition to any other provisions in these Account Terms but as applied to service interruptions for access to your Account, this section shall control.
Unless you are exempt as described below, federal law requires that the Bank withhold a statutory amount of interest or dividend payments (referred to as backup withholding) if you (if your Account is an interest bearing account):
If a correct TIN is not furnished at the time your account is opened, backup withholding will commence immediately. If you do not have a TIN assigned to you, IRS regulations allow a sixty (60) day grace period to obtain your TIN if you have completed the proper request for such grace period. Refer to the “Taxpayer Identification Number” section below for instructions on how to obtain a TIN.
While you are waiting to be assigned a TIN, backup withholding will occur. After sixty days (60), if a certified TIN is not furnished, your account may be closed. If you furnish a correct TIN within sixty (60) of account opening, and prior to year-end, you may request a refund of the amount withheld for backup withholding.
Certain additional IRS penalties may also apply if you fail to provide your TIN.
For sole proprietorships, the Taxpayer Identification Number may be either a Social Security number or an Employer Identification Number. If a sole proprietor is a resident or nonresident alien, and is ineligible for a Social Security number, the Taxpayer Identification Number may be either an IRS “Individual Taxpayer Identification Number” (ITIN) or an Employer Identification Number (EIN). For corporations, estates, organizations, clubs, and trusts the Taxpayer Identification Number is their Employer Identification Number. If you do not have a Taxpayer Identification Number, obtain Form SS-4, Application for Employer Identification Number (for businesses and all other entities), from the local IRS office, or Form W-7, Application for IRA Individual Taxpayer Identification Number (for sole proprietors who are resident or nonresident aliens). In addition, sole proprietors who are resident or nonresident aliens must also furnish a passport, or some other government document to verify identity.
If you are exempt from backup withholding and information reporting, you must complete a certification to that effect provided by the Bank. It must also provide the Bank with its Taxpayer Identification Number to be considered exempt. The following lists payees that are exempt from backup withholding and information reporting. For interest and dividends, all listed payees are exempt except item 7 below. Payments subject to reporting under sections 6041 and 6041A are generally exempt from backup withholding only if made to payees described in items 1 through 5 below, except that a corporation that provides medical and health care services or bills and collects payments from such services is not exempt from backup withholding or information reporting. Only payees described in items 2 through 5 below are exempt from backup withholding for barter exchange transactions, patronage dividends, and payments by certain fishing boat operators.
Section 6109 of the Internal Revenue Code requires most recipients of dividends, interest, or other payments to give Taxpayer Identification Numbers to payors who must report payments to the Internal Revenue Service. The Internal Revenue Service uses the numbers for identification purposes and to verify the accuracy of your tax return. Payors must be given numbers whether or not recipients are required to file tax returns.
If you fail to furnish a correct Taxpayer Identification Number (TIN), you may be subject to a penalty of $50 for each such failure unless such failure is due to reasonable cause and not to willful neglect. If you fail to furnish a TIN, the Bank may refuse to open your Account. The Bank may close an Account which was opened without a TIN and you fail to subsequently provide a TIN.
If you make a false statement with no reasonable basis that results in no imposition of backup withholding, you may be subject to a penalty of $500. Willfully falsifying certifications or affirmations may subject you to criminal penalties including fines and/or imprisonment. If you disclose or use a TIN in violation of federal law, you may be subject to civil and criminal penalties.
VII. Fund Transfers.
We may offer a variety of electronic banking services for your use with your Account. The purpose of this Section VII (Fund Transfer) is to inform you of some of the electronic banking services and also provide you with disclosures applicable to the services. We may also provide separate agreements to you that govern the terms of some services, including a separate agreement for Cards.
Unless we have entered into a specific written agreement with you that provides otherwise, payment orders you give to us for the transfer of funds out of the Account by wire transfer or otherwise, and payment orders we receive for the transfer of funds into the Account, will be governed by this paragraph. In addition, your rights and obligations with respect to a payment order, and our rights and obligations, will be governed by (a) any separate written agreement with us; then (b) this section; and then, to the extent not specified in a separate written agreement or this Agreement; (c) by Article 4A of the Uniform Commercial Code (“UCC 4A”) as enacted in Tennessee.
We reserve the right to refuse to accept any payment order. Payment orders are accepted when they are executed by us. We may process any payment order request (as well as any amendment or cancellation request concerning a payment order) that we believe is transmitted or authorized by you if we act in compliance with a security procedure agreed upon by you and us. Such payment orders will be deemed effective as if made by you, and you will be obligated to pay us in the amount of such orders, even though they are not transmitted or authorized by you. Unless we agree on another security procedure, you agree that we may confirm the authenticity and content of a payment order (among other ways) by placing a telephone call to you. If we cannot reach you, or if the payment order is not confirmed or approved in the manner we require, we may refuse to execute the payment order.
You agree that if a payment order or cancellation thereof identifies the beneficiary by both name and an identity number, and the name and number identify different persons or account holders, execution and payment to the beneficiary or cancellation may be made solely on the basis of the identifying number. You also agree that if a payment order identifies an intermediary bank or the beneficiary’s bank by both name and an identifying number, and the name and number identify different persons, execution of the payment order by any bank may be made solely on the basis of the identifying number. If we receive a funds transfer into any Account you have with us, we are not required to give you any notice of the receipt of the funds transfer. The funds transfer will appear on your next periodic statement. To confirm the completion of funds transfers, please contact us at [INSERT NUMBER] or access your Account using the Service Provider Platform. Prior to the acceptance of an outgoing payment order, the outgoing payment order may be cancelled, but may not be amended or modified, if the beneficiary’s bank is located within the United States of America and the outgoing payment order is to be paid in U.S. dollars. Other outgoing payment orders may not be cancelled, amended or modified. We must receive your cancellation in a reasonable time prior to the time we execute the outgoing payment order. Payment orders sent by Fedwire will be subject to the Federal Reserve’s Regulation J, and payment orders sent via other payment systems will be subject to the rules of those
systems. You agree that we may record all telephone conversations and data transmissions received from, made for or made on behalf of you pursuant to or in connection with a payment order.
You agree that if a payment order, or any cancellation or authorization relating thereto, but for the applicability of the Electronic Fund Transfer Act of 1978, constitutes a portion of a funds transfer as defined in UCC 4A, all actions and disputes concerning such payment order, cancellation or authorization shall be determined pursuant to UCC 4A and these Account Terms to the full extent permitted by law. If an outgoing payment order in a foreign currency cannot be completed, the exchange rate that will apply to any refund due you will be the exchange rate in effect at the time on the day the refund is made. Additional fees may be deducted from a payment order amount by other banks involved in the funds transfer process.
We may route payment at our own discretion for each outgoing wire transfer. A wire transfer is irrevocable once payment has been transmitted to the beneficiary’s bank. At your request, we may request that the beneficiary’s bank return funds previously transferred. However, you acknowledge that the beneficiary’s bank is under no obligation to comply with this request.
Other electronic transactions against your Account, whether or not initiated or authorized by you will be governed by the specific Agreement between us related to such transactions and/or all applicable rules and regulations governing such transactions, including without limitation, the rules of the National Automated Clearing House Association (“NACHA”) as may be amended from time to time.
Under NACHA rules we cannot return an unauthorized electronic transaction (ACH debit) unless you notify us no later than 5:00 p.m. Central Time on the business day following the settlement date of the transaction. Otherwise, your sole recourse is to the originator of the transaction.
Your Account is also subject to transfer limitations. The transfer limit depends on the EFT type. If a Card is made available to you, it is subject to a purchase and withdrawal limit of $[X] per day. The Card may be further limited based on fraud risk and security of the Account. All EFTs are subject to limits. Such EFT limits include limits on ATM withdrawals, cash advances and PIN or signature-based purchases. ACH Transfers to external accounts are also subject to limits on the dollar amount of electronic transfers between your Account and external accounts at other financial institutions, including Linked Accounts. All limits described here are designed to be flexible in order to protect the security and integrity of the service and accounts, including the Account, as well as you and all other users of the service. These limitations may be based on confidential fraud and risk criteria that are essential to our management of risk and the protection of you and the integrity of the service and all Accounts and may be modified at our sole discretion without advance notice.
VIII. Deposit Availability.
When a deposit is made to your Account, the funds may not be available immediately. This Section VIII (Deposit Availability Disclosure) describes when funds will be made available to you.
and federal, state and local government checks will be available on the same business day we receive your deposit if the deposit meets certain conditions. For example, the checks must be payable to you (and you may have to use a special deposit slip). The excess over $5,000 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S. Treasury check) is not made in person to one of our associates, the first $5,000 may not be available until the second business day after the day of your deposit. Funds from all other check deposits may not be available until the second business day after the day of your deposit.
D. Availability of ACH Transfer and EFT Deposits. Funds from wire deposits are available on the business day we receive the deposit. Funds from ACH Transfers or EFTs that you initiate through another bank will generally be available on the next business day after the day the ACH Transfer is deemed to be received by us. An ACH Transfer or EFT debit to a Linked Account or any other external account that we originate on your behalf will generally be made available on the third business day after the date the ACH Transfer or EFT is deemed to be received by us. Once they are available, you can use the funds for EFTs and ACH Transfers. Even after we have made funds available to you and you have withdrawn the funds, you remain responsible if any deposit to your Account is returned, rejected, or otherwise uncollected by Bank.
Evolve Bank & Trust Electronic Communication Consent
Effective Date: 10/22/2021
We want to provide you with communications electronically. Certain laws and regulations require us to provide communications to you “in writing,” which means you may be entitled to receive the information on paper. The E-SIGN Act allows us to provide you communications electronically and to conduct transactions with you electronically, with your consent.
Please read this Evolve Bank & Trust Electronic Communication Consent (the “Consent”) carefully prior to providing us with your consent. This Consent describes how we deliver and receive communications to and from you electronically and asks you to consent to use electronic records and signatures in our relationship with you. If you do not agree to this Consent or you later withdraw your consent provided herein, you may not be able to continue to use our services.
“We”, “us”, and “our” means Evolve Bank & Trust, its current or future affiliated companies, agents, assignees and service providers.
“You” and “your” mean each applicant, account owner and anyone else with access to the account. If there is more than one owner, then these words mean each account owner separately, and all account owners jointly.
“Product” means each and every account, product or service we offer or will offer.
The words “include” and “including,” when used at the beginning of a list of one or more items, indicates that the list contains examples and is not exclusive or exhaustive, and the items in the list are only illustrations.
Scope of Communications to be Provided in Electronic Form.
This Consent applies to all Communications and Products. By applying for or using a Product, you agree that any Communications will be provided in electronic format, to the extent allowed by law, and that paper Communications will not be sent. Your consent to receive electronic Communications and transactions includes, but is not limited to:
▪ All legal and regulatory disclosures and communications associated with the Product;
▪ The Account Terms, including any amendments thereto, and any and all agreements by and between you and us that relate to a Product;
▪ Privacy policies and notices;
▪ Responses to claims filed in connection with a Product;
▪ Statements; and
▪ All other communications between us and your concerning the Product and any related transactions, products or services.
Sometimes the law, or our agreement with you, requires you to give us a written notice. You must still provide these notices to us on paper, unless we specifically tell you in another Communication how you may deliver that notice to us electronically.
We reserve the right, at our sole discretion, to discontinue the provision of electronic Communications, or to terminate or change the terms and conditions upon which electronic Communications are provided. We will provide you with notice of any such termination or change as required by law.
Method of Providing Communications in Electronic Form.
All Communications that we provide in electronic form will be provided either (1) by e-mail or (2) by access to a website designated in an email notice from us, (3) through the any mobile application we may make available, (4) to the extent permitted by law, by access to a website generally designated in advance for such purpose, or (5) in the manner specified in any other agreement we or our affiliates have with you.
If you seek to obtain a new product, service or account with us, we may remind you that you have already consented to receiving electronic Communications and using electronic signatures in your relationship with us.
Continuing to use our Products after receiving updates to our system requirements signifies your acceptance of the change and reaffirmation of your consent.
Keeping your Records Current.
It is your responsibility to provide us with a true, accurate and complete e-mail address, street address, and other information related to this Consent and a Product, and to maintain and update promptly any changes in this information. You can update information (such as your e-mail address) by contacting us at firstname.lastname@example.org. We are not responsible for any delay or failure in the receipt of the Communications if we send the Communications to the last e-mail address you provided to us.
System Requirements for Accessing Communications.
In order to access, view, and retain electronic Communications that we make available, you must have:
▪ computers capable of running one of these compatible browsers:
▪ Internet Explorer version 9.0 or higher.
▪ Firefox version 35 or higher.
▪ Safari version 6.1 or higher.
▪ Chrome version 38 or higher.
▪ an Apple iPhone or iPad running iOS version 9.0 or higher.
▪ access to an active e-mail account with an email service provider.
We may update these requirements as necessary to preserve the ability to receive electronic Communications. If there is a substantial change in these requirements, you will be notified as required by law.
Requesting Paper Copies.
We will not send paper copies of any Communication; however, we reserve the right, but assume no obligation, to provide a paper (instead of electronic) copy of any Communication that you have authorized us to provide electronically. You can obtain a paper copy of an electronic Communication by printing it or by requesting that we mail a paper copy. To request a paper copy, contact us at email@example.com during normal business hours, except for national holidays. There may be a fee associated with the request for the delivery of paper copies of any Communication provided electronically pursuant to this Consent.
Communications in Writing.
All Communications in either electronic or paper format from us to you will be considered “in writing.” You should print or download a copy of this Consent and any other Communications for your records.
Withdrawing Your Consent
You can withdraw your consent to receive Communications electronically at any time. Your withdrawal of consent will become effective after we have had a reasonable opportunity to act upon it. To withdraw your consent to receive Communications electronically, you must contact us by e-mailing at firstname.lastname@example.org.
If you withdraw consent, your access to all Products will be terminated and any account you have with us will be closed and funds will be returned to you in accordance with the account agreement. If you withdraw consent, the legal validity and enforceability of prior Communications delivered in electronic form will not be affected.
By applying for or using a Product or by checking any call to action (including “I Agree” or similar language), you give us affirmative consent to receive electronic Communications as described herein.
By providing your consent, you are also confirming that you have the hardware and software described above, that you are able to receive and review electronic Communications, and that you have an active email account. You are also confirming that you are authorized to, and do, consent on behalf of all the other account owners, authorized signers, authorized representatives, delegates, product owners and/or service users identified with your Products.