User Agreement

Effective Date: August 8, 2023

This user agreement is a contract among you and Highline Technologies, Inc. (“Highline”) governing your use of the Highline services. Highline may be referred to as “we,” “us” and “our.”

By establishing a Highline user account, you agree to comply with all of the terms and conditions in this user agreement. This User Agreement includes an agreement to resolve any disputes through binding arbitration that includes a class action waiver, as well as important disclaimers, warranties and limitations on liability. You also agree to comply with the following additional policies and each of the other agreements that apply to you:

We may revise this user agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. If Highline's changes reduce your rights or increase your responsibilities, then we will provide notice to you of at least 21 days. We reserve the right to amend this agreement at any time without notice, subject to applicable law. By continuing to use Highline's services after any changes to this user agreement become effective, you agree to abide and be bound by those changes. If you do not agree with any changes to this user agreement, you may close your user account.

Opening Highline User Account

To create a user account, you must be a citizen of the United States, be at least 18 years old or the age of majority in your state of residence and have an active email address. You must also have a bank account with a financial institution in the United States.

You agree to keep confidential the credentials you use to access your Highline user account and the Highline services. You must keep your phone number, email address and other contact information current in your Highline account profile.

By creating a user account, you authorize us to create and maintain an account in your name using your account registration information and other information that may be collected about you in accordance with our Privacy Policy as part of providing our services. When creating your user account, you authorize your wireless carrier to share your account device information with our third-party service provider, only to verify your identify and prevent fraud. By creating a user account, you also specifically consent to let us request and receive your consumer report data and other data about you from third parties to include in your user account.

Closing your Highline User Account

You may close your user account and terminate your relationship with us without cost, but you will remain liable for all obligations related to your Highline user account even after the Highline user account is closed. Any incomplete transactions or transfers must be completed or canceled before the user account can close. You must also cancel any direct deposits from employer payrolls. If a direct deposit is received, then the account will be considered re-opened.

In certain cases, you may not close your Highline user account, including:

To evade an investigation.
If you have a pending transaction or an open dispute or claim.
If you owe amounts to us.
If your Highline account is subject to a hold, limitation or reserve.

Linking your Payroll Provider

You will need to authorize Highline to access your employer’s payroll platform, or other similar source of income (‘Payroll Provider’).

After Highline has verified your required identifying information, part or all of your paycheck will be transferred directly into your Highline payment account by your employer’s payroll provider, as applicable.

Funds transferred via your Payroll Provider generally will be available on the day the funds are applied to your Highline account. Because we do not receive funds instantly, there will be some delay between the payment being sent by your Payroll Provider and Highline directing the payment to pay your bills.

Link or Unlink a Bank Account

You can link or unlink a U.S. bank account to your Highline payment account by calling 855- 647-1177 or emailing [email protected]. Your Payroll Provider may provide Highline with your bank account information in order to facilitate payments, or you may provide it. Please keep your payment method information current. Furthermore, in order to prevent fraud, you authorize Highline to provide this bank account information to your biller. If this information changes, we may update it using information and third-party sources available to us, such as your Payroll Provider, without any action on your part. If you do not want us to update your account information, you may remove your payment method from your Highline account. Linked bank account information enables transfer of excess money received by your Highline payment account directly to you. In the event you do not have a valid linked bank account, you authorize Highline to send any excess funds to you by check, through the US mail. Any checks sent by the US mail will be deemed received by you in 3 business days.

Money Movement Through Highline

Anti-money laundering and counter-terrorism financing laws may require that Highline verify your personal identifying information. Highline reserves the right to close, suspend, or limit access to your Highline payment account and/or the Highline services in the event that, after reasonable enquiries, we are unable to obtain information about you required to verify your identity. Where your Payroll Provider and/or your biller have such required identifying information, you authorize them to share that information with Highline for the purposes of identifying you and preventing fraud on the platform. The required identifying information is:

Full name;
Physical address;
Date of birth; and
Social security or taxpayer identification number.
Email address

Rounding Payments

In the event that Highline must round the payroll allocation instructions up by one cent to cover a bill payment, Highline will process a return of funds once the additional pennies reach up to $1 in value. Excess funds will be processed directly to your checking account via the ACH instructions provided at the time of agreeing to Highline’s ACH Agreement.

FDIC Pass-Through insurance

FDIC pass-through insurance helps protect you against the risk of loss of your funds should the FDIC-insured bank where we deposit your funds fail. If one of the banks in which we have deposited your funds fails, your funds would be eligible to be insured by the FDIC up to the standard maximum deposit insurance amount (currently $250,000) to the same extent as if you had deposited that money directly. This limit applies per depositor and ownership capacity, not per account. When determining your coverage limit, the FDIC will add the funds in your eligible Highline account to amounts you hold in the same ownership capacity in other accounts at the same bank.

If funds are received in your Highline account other than through Direct Deposit, there might be a delay between the time that funds are credited to your Highline account and when we actually transfer those funds to one of the custodial bank accounts. Your Highline balance funds might not be eligible for the benefits of FDIC pass-through insurance coverage during this period, although we will still be holding the funds as your agent and custodian. You will not receive interest or any other earnings on funds held in these custodial bank accounts and you agree that any interest that may be earned on funds in a custodial bank account are owned by Highline.

FDIC pass-through insurance does not protect you against the risk of Highline’s insolvency. We believe that, in the unlikely event of Highline's insolvency, funds that we have on deposit in a custodial account for the benefit of Highline's account holders should not be included in Highline's bankruptcy estate and should be protected from claims by Highline's creditors. Additionally, even if funds in your Highline balance (whether held by us or held in a custodial account) are eligible for FDIC pass-through insurance and may be protected from claims by Highline's creditors in the unlikely event of Highline's insolvency, it is possible that you will not have access to those funds while court or other legal proceedings to determine ownership of the funds are ongoing.

Customer Portal

You may view an online account showing your Highline payment account activity. You may view your Highline account statement by logging into your Highline account through your Customer Portal on the Highline website.

Billing Payments

You can agree to use Highline as the payment method for future recurring payments to an authorized biller. This agreement is between you and the authorized biller and allows Highline to push payments from your Highline account, with your authorization, either on a one-time, regular or sporadic basis, depending on the type of billing agreement. Highline is not a bank and does not itself take deposits. You will not receive any interest or other return on the funds held with Highline. When you establish a payment, or a series of expected payments to a biller, you authorize Highline to change the allocation on your Payroll Provider to transfer the requested amount to Highline on the scheduled pay days, as disclosed in your agreement with the biller and on your Customer Portal.

Furthermore, you agree to allow Highline to obtain the requested amount from any paycheck within 5 business days of the scheduled pay day. In the event that there are insufficient funds in the paycheck to complete the requested payment amount, in order to keep you current on outstanding bills, you agree to allow Highline to alter future payment amounts, where possible, to make up for any missed payments. If at any time you do not want to alter a future payment amount to make up for a missed payment, or wish to otherwise change a payment amount, you may do so. You may also cancel a billing agreement by reaching out to the authorized biller directly, calling 855-647-1177 or emailing [email protected]. You may cancel a scheduled payment up to 3 Business Days before the date of the next scheduled payment. If you cancel a billing agreement, you may still owe the biller money.

Invalidated and Reversed Payments

Payments may be invalidated and reversed by us if, among other reasons, we sent the payment in error, the funding transaction was declined or reversed, the payment was unauthorized or unfunded, or if the payment was for activities that violated this user agreement or any other agreement with us.

When recovering the amount of an invalidated payment from you, we may apply any money sent to you on Highline, request that you add money to your account for the amount of the payment and apply that money to amounts owed, and/or we may:

engage in collection efforts to recover such amounts from you;
take any or all action as outlined under Amounts Owed to Us; and
place a limitation or take other action on your Highline account as outlined under Restricted Activities and Holds and Limitations.

If you believe that a payment initiated with your Highline account was not authorized, then you must notify us immediately. Please see below under the heading Reporting an Unauthorized Transaction for information about how to notify us. If you fail to report the unauthorized activity directly to us, then we may recover the amount of the reversed payment from you, as described above.

Court Orders, Regulatory Requirements or Other Legal Process

If we are notified of a court order or other legal process affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including holding payments to/from your Highline account, placing a hold or limitation on your Highline account, or releasing your funds. We will decide, in our sole discretion, which action is required of us. We do not have an obligation to contest or appeal any court order or legal process involving you or your Highline account. When we implement a hold or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold or limitation may remain in place longer than 180 days.

Unauthorized Transactions

An “Unauthorized Transaction” occurs when money is sent from your Highline account that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your Highline account, and sends a payment from your Highline account, an Unauthorized Transaction has occurred.

Reporting an Unauthorized Transaction

If you believe your Highline login information has been lost or stolen, please contact Highline customer service immediately by calling 855-647-1177 or emailing [email protected].

Tell us AT ONCE if you believe that a transaction has been made without your permission using your login information or by other means, or if your Highline-activated mobile phone has been lost, stolen, or deactivated.

Error Resolution

An “error” means the following:

When money is either incorrectly taken from your Highline account or incorrectly placed into your Highline account, or when a transaction is incorrectly recorded in your Highline account.
You send a payment and the incorrect amount is debited from your Highline account.
An incorrect amount is credited to your Highline account.
A transaction is missing from or not properly identified in your Highline account statement.
We make a computational or mathematical error related to your Highline account.

In case of errors or questions about your electronic transfers:

Notify us as soon as you can if you think a payment is wrong or if you need more information about a transfer listed on your online User portal. We must hear from you no later than 60 days after we posted the transaction on the Customer Portal. You must contact us directly to notify us of errors. When you notify us:

Tell us your name and date of birth and the last four of SSN/ITIN and account number (if any).
Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.
Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your dispute or question in writing within 10 Business Days.

We will determine whether an error occurred within 10 Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your dispute or question. If we ask you to put your dispute complaint or question in writing and we do not receive it within 10 Business Days, we may not be able to fully investigate your dispute. For errors involving new Highline accounts, we may take up to 90 days to investigate your dispute or question.

We will tell you the results within 3 Business Days after completing Highline's investigation. If we determine that there was an error, we will promptly rectify the error within 1 Business Day of Highline's determination.

If we decide that there was no error, we will send you a written explanation, and, if you received a provisional credit, after giving you 5 Business Days advance notice of the date and amount of the debit, we will remove it from your account.

Communications Between You and Highline

If you provide us your mobile phone number, either directly or through a partner and/or payroll provider, you agree that we, including Highline's affiliates, may contact you at that number using autodialed or prerecorded message calls or text messages to: (i) service your Highline branded accounts or (ii) investigate or prevent fraud. We will not use autodialed or prerecorded message calls or texts to contact you for marketing purposes unless we receive your prior express written consent. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their own purposes without your consent.

We may communicate with you about your Highline account and the Highline services electronically as described in Highline's Consent to Receive Electronic Disclosures. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to Highline's website or email it to you. You will be considered to have received a communication from us, if it’s delivered by mail, 3 Business Days after we send it.

Unless you’re communicating with us about a matter where we’ve specified another notice address (for example, Highline's Protection from Unauthorized Transactions process), written notices must be sent by postal mail to:

You understand and agree that, to the extent permitted by law, we may, without further notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with us or Highline's agents for quality control and training purposes or for Highline's own protection. You acknowledge and understand that while your communications with us may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by us, and we do not guarantee that recordings of any particular telephone calls will be retained or retrievable.

Our Rights

Our Suspension and Termination Rights

We, at our sole discretion, reserve the right to suspend or terminate this user agreement, access to or use of Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on Highline's behalf or some or all of the Highline services for any reason and at any time upon notice to you and, upon termination of this user agreement, the payment to you of any unrestricted money being held for you.

Insolvency Proceedings

If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this agreement.

Assumption of Rights

If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment and may pursue those rights directly or on your behalf, at Highline's discretion.

No Waiver

Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive Highline's right to act with respect to subsequent or similar breaches.

Limitations on the Use of our Services

As described in our Privacy Policy, we may share or use your payroll data and other information we obtain to analyze, sort, and present certain information or features to you. Any analysis and information we provide as part of our services are for informational purposes only. Our analysis and estimates are based on certain assumptions and use only the data we have. Our analysis and estimates are neither endorsed by, nor commissioned by, any of our partners. With respect to offers from our partners, we do not guarantee that you will be presented with offers for any particular types of products or services or that you will meet the approval criteria for any particular offer. It is always your choice whether to apply for a product or service offered by our partners.

Indemnification and Limitation of Liability

Indemnification

You must indemnify us for actions related to your Highline account and your use of the Highline services. You agree to defend, indemnify and hold Highline harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of this user agreement, your improper use of the Highline services, your violation of any law or the rights of a third party and/or the actions or inactions of any third party to whom you grant permissions to use your Highline account or access Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on our behalf, or any of the Highline services on your behalf.

Limitation of liability

Our liability is limited with respect to your Highline account and your use of the Highline services. In no event shall we be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with Highline's websites, software, systems operated by us or on our behalf, any of the Highline services, or this user agreement, unless and to the extent prohibited by law.

Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages. In addition, to the extent permitted by applicable law, we are not liable, and you agree not to hold us responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of, or your inability to use, Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on Highline's behalf, or any of the Highline services; (2) delays or disruptions in Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on Highline's behalf and any of the Highline services; (3) viruses or other malicious software obtained by accessing Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on Highline's behalf or any of the Highline services or any website or service linked to Highline's websites, software or any of the Highline services; (4) glitches, bugs, errors, or inaccuracies of any kind in Highline's websites, software, systems (including any networks and servers used to provide any of the Highline services) operated by us or on our behalf or any of the Highline services or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your Highline account; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

Links to Third Party Sites

Our Services or communications to you may contain third party content or links to third party sites, applications or services (“Third-Party Content”). Our Services may also include features that allow you to connect your account with accounts or services provided by third parties, such as accounts you maintain with financial institutions (“Third-Party Services”). We do not control, maintain, or endorse the Third-Party Content or Third-Party Services, and we are not responsible or liable for any Third-Party Content or Third-Party Services, including any damages, losses, failures, or problems caused by, related to, or arising from Third-Party Content or Third-Party Services. Your interactions and business dealings with the providers of the Third-Party Content or Third-Party Services, including products or services offered by such third parties, are solely between you and the third party. You should review all of the relevant terms and conditions associated with Third-Party Content or Third-Party Services, including any privacy policies and terms of service. We are not responsible for any information that you agree to share with third parties in connection with Third-Party Content or Third-Party Services.

Disclaimer of Warranty and Release

No Warranty

The Highline services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and of non-infringement.

We do not guarantee continuous, uninterrupted or secure access to any part of the Highline services, and operation of Highline's websites, software, or systems (including any networks and servers used to provide any of the Highline services) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing because the Highline services are dependent upon many factors outside of Highline's control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

Your Release of Highline and Bank

If you have a dispute with any other Highline account holder, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release you expressly waive any protections (whether statutory or otherwise, for example, California Civil Code § 1542) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.

Agreement to Arbitrate

If a dispute arises between you and us regarding the Highline services or otherwise, our goal is to learn about and address your concerns. If we are unable to do so to your satisfaction, we aim to provide you with a neutral and cost-effective means of resolving the dispute quickly. Disputes between you and us regarding the Highline services may be reported to customer service at any time by emailing [email protected] .

ANY CLAIMS ARISING OUT OF, RELATING TO, OR CONNECTED WITH THIS USER AGREEMENT MUST BE ASSERTED INDIVIDUALLY IN BINDING ARBITRATION CONDUCTED BY A SINGLE ARBITRATOR WITH EXPERIENCE IN CONSUMER ONLINE PAYMENT SERVICES DISPUTES ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION (“AAA”) IN ACCORDANCE WITH ITS COMMERCIAL ARBITRATION RULES AND THE AAA SUPPLEMENTARY PROCEDURES FOR CONSUMER-RELATED DISPUTES. The forum for arbitration shall be in the city closest to your residence having a federal district courthouse. The arbitrator shall not conduct any form of class or collective arbitration nor join or consolidate claims by or for individuals. To the extent allowed by applicable law, the Arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this user agreement including, but not limited to, any claim that all or any part of this user agreement is void or voidable. Judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction. For any non-frivolous claim, Highline will pay the costs of the arbitration (but not your attorney fees), up to $3,000.

This user agreement and each of its parts evidence a transaction involving interstate commerce, and the United States Arbitration Act shall apply in all cases and govern the interpretation and enforcement of the arbitration rules and arbitration proceedings. There are only two exceptions to this agreement to arbitrate. First, if we reasonably believe that you have in any manner violated or threatened to violate Highline's intellectual property rights, we may seek injunctive or other appropriate relief in any court of competent jurisdiction. Second, any claim of $500 or less may, at the option of the claiming party, be resolved in small claims court in New York City, New York, if the claim and the parties are within the jurisdiction of the small claims court. For these two exceptions, you agree to submit to the personal jurisdiction of the courts located within New York City, New York for the purpose of litigating such claims or disputes.

Waiver of Right to Jury; Class Action Waiver

TO THE EXTENT ALLOWED BY LAW, YOU AGREE TO IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO A TRIAL BY JURY OR OTHER COURT TRIAL (OTHER THAN SMALL CLAIMS COURT) OR TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER REPRESENTATIVE CAPACITY, OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS, IN ANY LAWSUIT, ARBITRATION OR OTHER PROCEEDING FILED AGAINST US AND/OR RELATED THIRD PARTIES.

INTELLECTUAL PROPERTY

Highline's Trademarks

"Highline.co," "Highline," “Pay by Paycheck,” and all logos related to the Highline services are either trademarks or registered trademarks of Highline or Highline’s licensors. You may not copy, imitate, modify or use them without Highline's prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Highline. You may not copy, imitate, modify or use them without Highline's prior written consent. You may use HTML logos provided by us for the purpose of directing web traffic to the Highline services. You may not alter, modify or change these HTML logos in any way, use them in a manner that mischaracterizes Highline or the Highline services or display them in any manner that implies Highline’s or Highline’s sponsorship or endorsement. All rights, title and interest in and to the Highline websites, any content thereon, the Highline services, the technology related to the Highline services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Highline and its licensors.

License Grants

You acknowledge that all rights, title and interest to Highline's software are owned by Highline and any third-party materials integrated therein are owned by Highline's third-party service providers. You acknowledge that Highline does not own, control nor have any responsibility or liability for any such third-party software and/or in connection with the Highline services.

Business Days

“Business Day(s)” means Monday through Friday, excluding holidays when Highline’s offices are not considered open for business in the U.S. Holidays include New Year’s Day (January 1), Martin Luther King, Jr.’s Birthday (the third Monday in January), George Washington’s Birthday (the third Monday in February), Memorial Day (the last Monday in May), Independence Day (July 4), Labor Day (the first Monday in September), Columbus Day (the second Monday in October), Veterans Day (November 11), Thanksgiving Day (the fourth Thursday in November) and Christmas Day (December 25). If a holiday falls on a Saturday, we observe the holiday on the prior Friday. If the holiday falls on a Sunday, we observe the holiday on the following Monday.

Governing Law

You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this user agreement, the laws of the State of New York, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and us regarding your use of the Highline services. Highline is based in the United States and our services are intended for a United States audience only and are limited to residents of the United States.

Identity Authentication and Verification

You authorize us, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include:

asking you for further information, such as your date of birth, a social security or individual taxpayer identification number, your physical address and other information that will allow us to reasonably identify you;
requiring you to take steps to confirm ownership of your email address, phone number or financial instruments; or
requiring you to provide your driver’s license or other identifying documents.

Anti-money laundering and counter-terrorism financing laws may require that we verify the required identifying information if you use Highline services. We reserve the right to close, suspend, or limit access to your Highline account in the event that we are unable to obtain information about you required to verify your identity.

Money Transmitter Licenses

Highline partners with Blue Ridge Bank, a licensed provider of money transfer services and all money transmission is provided by Blue Ridge Bank, pursuant to Blue Ridge Bank’s licenses.

Highline acts as a payment service provider only. We do not:

Act as an escrow agent with respect to any money sent to you on Highline that has not been transferred;
Act as your agent or trustee; or
Act as a payment processor or other agent of the biller

Privacy

Protecting your privacy is very important to us. Please review Highline's Privacy Policy in order to better understand Highline's commitment to maintaining your privacy, as well as Highline's use and disclosure of your information.

Platform User Addendum (FBO)

Last Updated: March 1, 2023

This Platform User Addendum (this “Addendum”) is incorporated into and made a part of the services agreement (the “Platform Agreement”) between you (“you” or “Platform User”) and Highline Technologies Inc. (the “Platform”). Capitalized terms used in this Addendum that are not otherwise defined will have the meaning provided in the Platform Agreement.

Definitions
“Bank” means Blue Ridge Bank.
“Bank Account” means a bank depository account provided by the Bank.
“Banking Services” means bank depository, payment and money movement services provided by Bank and marketed by Increase Technologies, Inc.
The Bank Account. The Bank has established a deposit account for the benefit of Platform's customers. Bank will hold title to all funds deposited in the Bank Account for the proportionate benefit of Platform's customers as shown on the records maintained by Platform and/or the Bank (or its third-party service provider), as applicable. The funds will be held in the Bank Account until such time as a Platform User directs a transfer from the Bank Account. By providing transfer information to Platform, Platform User authorizes Platform, acting as its designated agent, to instruct the Bank to make transfers to and from the Bank Account.
Platform User Relationship with Bank. Platform is not a bank. Platform partners with the Bank to provide Banking Services to you. The Bank is an intended third party beneficiary of the Platform Agreement, including this Addendum, and will provide the Banking Services and act as custodian of the funds in the Bank Account for the benefit of all Platform Users who have deposited funds in the Bank Account. The funds deposited in the Bank Account will be held in the name of the Bank, as custodian. Platform User acknowledges and agrees that funds transferred into the Bank Account may be pooled and commingled with funds of Platform and other Platform Users. Fees related to the Banking Services, if any, will be outlined in a fee schedule provided separately by the Platform or the Bank.
Platform User Relationship with Platform. Platform User here by appoints Platform to act as Platform User's agent for the purpose of the fulfillment of the Banking Services, including without limitation, to: (i) receive and provide notices and communications on Platform User's behalf; (ii) maintain records of the Bank Account and transactions on the Bank Account; (iii) authorize and direct the Bank to debit and credit accounts at other financial institutions; (iv) make individual transaction information available to Platform Users; (v) collect the information necessary to establish Platform User's interests in the Bank Account; (vi) disclose such information to the Bank; and (vii) take any other action that Platform deems necessary or desirable to carry out the transactions constituting the Banking Services. Platform User hereby authorizes the Bank to follow the instructions of Platform (whether electronic, written or oral) and agrees that the Bank may completely rely on such instructions without further investigation or authorization.
Platform Relationship with Bank. Platform User acknowledges and agrees that Platform provides certain services to and acts on behalf of the Bank, including without limitation marketing Banking Services, delivering communications on behalf of the Bank, collecting information from customers and authorizing, authenticating and completing transactions. Platform User acknowledges and expressly agrees to Platform acting as both Platform User's agent and as the agent for the Bank for purposes of the Platform Agreement and the Banking Services. Platform User hereby waives any conflict resulting from such relationships.
Identity; Cooperation. You authorize Platform and Bank, directly or through third parties,to make any inquiries they consider necessary to validate your identity. This may include asking you for further information, including requiring you to provide a taxpayer identification number, Social Security Number, and other information that will allow them to reasonably identify you, requiring you to take steps to confirm ownership of your email address or financial accounts, ordering a credit report, and verifying your information against third-party databases or through other sources. The Bank reserves the right to close, suspend or limit access to the Banking Services in the event Platform or Bank is unable to obtain or verify this information.
Disclaimer. THE BANKING SERVICES ARE PROVIDED "AS IS" AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. PLATFORM AND BANK SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Neither Bank nor Platform guarantees continuous, uninterrupted or secure access to the Banking Services. Platform and Bank will make reasonable efforts to ensure that requests for electronic transactions are processed in a timely manner but make no representations or warranties regarding the amount of time needed to complete processing because the Banking Services are dependent upon many factors outside of Platform and Bank’s control, such as delays in the banking system or the U.S. or international mail service.