Column N.A. Consumer Deposit Account and Debit Card Agreement

Please be aware that this deposit account and debit card agreement contains an arbitration provision and class action waiver.  By electronically agreeing to and signing this deposit account and debit card agreement, you agree to the terms of the jury trial and class action waiver below. Unless you properly reject the arbitration provision pursuant to the terms set forth hereunder, you and we agree to arbitrate, all disputes between us, with limited exceptions.

This Deposit Account and Debit Card Agreement (the “Agreement”) contains the terms and conditions governing the deposit account(s) (each an “Account” and collectively the “Accounts”) and Card made available and provided by Column National Association. Bank is a nationally chartered depository financial institution and a member of the Federal Deposit Insurance Corporation (“FDIC”). “Account Owner”, “you” and “your” means each person who owns the Account. Bank,” “we,” “our,” and “us” means Column National Association and its agents, service providers, authorized representatives, successors, and assignees. When we say “We may” or “Bank may” do something, that means you authorize us and agree to such action. You may submit a request to open an Account and the Card via the Mercury App (as defined in this Agreement); your request must indicate if the Account is a Checking Account or Savings Account. Mercury Technologies Inc. (“Servicer”) is a service provider that performs certain services related to your Account or Card on our behalf. Bank may refuse to process any transaction(s) that it believes may violate the terms of this Agreement or Applicable Law.

The FDIC insures deposits according to the ownership category in which the funds are insured. Not all accounts may be insured. Unless otherwise stated by us or the FDIC, your deposits with Bank are insured to the regulatory limits by the FDIC. For purposes of determining the insurance amount applicable for your account, you may refer to information and tools describing how deposit insurance coverage works are provided by the FDIC at www.fdic.gov/resources/deposit-insurance or by calling 1-877-ASK-FDIC or 1-800-925-4618 (for the hearing impaired). You can also refer to the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at www.fdic.gov/edie.

By agreeing to these terms, you agree to be bound by Bank’s Privacy Notice (available at https://column.com/legal/privacy-notice) and Privacy Policy (available at https://column.com/legal/california-consumer-privacy-policy).

As a condition of opening and maintaining an Account or Card with us through Servicer, you are required to enter into and maintain an agreement with Servicer regarding that access through the Mercury App offered by Servicer. Servicer provides a website and mobile app and we require you to use those tools to access your Account and Card to make transfers and to obtain other account services, instead of through a Bank branch, website or software offered by Bank. You agree to download and maintain a current version of the Mercury App and represent and warrant you are able to access Servicer’s website offered for accessing your account at https://mercury.com/.

Servicer is a vendor of the Bank for some purposes and will be responsible for carrying out some of our responsibilities under this Agreement, including receiving notices from you, responding to any notices relating to questions or complaints concerning your Account or Card, and carrying out other responsibilities described in this Agreement.  Accordingly, where we are responsible for matters under this Agreement, those matters may be handled either by Servicer or by us directly and you agree we may require you to contact Servicer directly for assistance.

By agreeing to these terms, you acknowledge that you have or will have agreed to the terms contained in the following documents:

●      Mercury Terms of Service (available at https://mercury.com/legal/terms)

●      Mercury Privacy Policy (available at https://mercury.com/legal/consumer-privacy)

“ACH Transfers” are transfers to or from your Account processed under National Automated Clearing House Association (“NACHA”) Operating Rules.

“Applicable Law” means, with respect to either party and as may be amended and in effect from time to time, any applicable laws, statutes, regulations, rulings, orders, and/or guidance, including the Rules, that legally apply to either party.

“Business Day” means Monday through Friday, excluding U.S. federal holidays.

“Card” means one or more cards or other access devices, including your account number or digital version of your debit card and any digital card, that we may issue to allow you to access the funds on your Account, and includes all renewals and substitutions of the same.

“Checking Account” means  an interest-bearing Account provided by us and made available to you in the Mercury App.   

“Login Credentials” means the unique username and password that you create for access to your Account through the Mercury App.

“Mercury App” means Servicer’s mobile device software application that allows you to access your Account on a mobile device or computer device and/or the Mercury Website.

“Mercury Website” means Servicer’s website at https://mercury.com/that allows you to access your Account online.

“Savings Account” means an interest-bearing Account provided by us and made available to you in the Mercury App .

“USD” means United States Dollars.

2.1. Account Eligibility

The Account is available to individuals who are: at least 18 years of age, have a valid government-issued identification; provide a valid residence address in the fifty United States, the District of Columbia, and the United States territories; and who can form a legally binding contract in their respective jurisdiction. We may impose other restrictions as well. The Account is only available to individuals for personal, family or household purposes and may not be opened by a business in any form or used for business purposes. Account may not be opened by a person acting in a fiduciary capacity unless otherwise approved by us in writing. We reserve the right to decline opening an Account for any reason, including instances where previous or existing relationships or accounts with us were not maintained in a satisfactory manner. We are not liable for any damages or liabilities resulting from refusal of an Account relationship. The Account is only available electronically and for paperless customers.  You must agree to accept electronic, rather than paper communications and can retrieve account information through the Mercury App.

Important information about procedures for opening a new account

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 open an account, we will ask your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

2.2. Electronic documents 

We may provide you electronic communications and transact business with you electronically, as further set forth in the Electronic Communications Agreement available at https://mercury.com/legal/esign. Your authorization and consent to agreements with us, or your delivery of instructions, may be made by use of certain numbers, codes, marks, signs, personal identification numbers (“PINs”), public or private keys, or other means acceptable to you and us, to establish your identity and acceptance of the electronic communications. All electronic communications and agreements that meet these requirements will be deemed to be valid and authentic, and you intend and agree that those electronic communications and agreements will be given the same legal effect as written paper communications signed by you. You agree that electronic copies of communications and agreements are valid, and you will not contest the validity of the originals or copies, absent proof of altered data or tampering.

2.3. Telephone, SMS and Electronic Message Communication 

By providing a phone number, you are expressly consenting to receive Communications at that number from Bank and Bank’s agents, including Servicer. Such Communications may include, but are not limited to, text messages, prerecorded or artificial voice message calls and/or calls made by an automatic telephone dialing system. This express consent applies regardless of the call’s purpose. You understand that anyone with access to your telephone or your email address, if we send emails to you, may listen to or read our communications to you, including any voicemail message we deliver to you. You agree that we will not be liable for anyone accessing our communications or for any charges that you incur in connection with any of our communications.  From time to time, we may provide automatic account alerts regarding certain account activities or when certain changes are made to your account, such as a change in your email address, telephone number or password. You acknowledge that data, including emails, may be accessed by unauthorized third parties when communicated between you and Bank, using the Internet (for example, by such third party downloading spyware or malware onto your computer), telephone, or other electronic devices. We are not responsible for any misdirected data or disclosures that occur as a result of your use of third-party electronic communication channels.

To change your communication preferences or to revoke your consent for calls or text messages made with an automatic telephone dialing system or that deliver prerecorded and/or artificial voice messages, to the extent you have a right under Applicable Law, you must contact Servicer by email or phone using the contact information set forth above. To stop text messages, you may also reply “STOP” to any text message we send to you. If we send marketing emails to you, you must follow the opt-out instructions provided at the bottom of the email to opt-out of such emails.

2.4. Telephone monitoring / recording 

Bank and Servicer may monitor and/or record telephone calls between you and Bank or Servicer, including to assure the quality of Bank's or Servicer’s service team or as required by Applicable Law. You agree that any recorded communications may be admitted as evidence in any litigation, arbitration, controversy, hearing, or other proceeding.

2.5. Account access and account security

You, or your Authorized Users on your behalf, may only access your Account through the Mercury App. Your Account, Login Credentials, and Card information can also be used to electronically remove money from your Account, and payment can be made from your Account even though you did not contact us directly and order the payment. It is your responsibility to protect the Account numbers, Login Credentials, Card information, and electronic access devices we provide you for your Account. Do not discuss, compare, or share information about your Account information, Login Credentials, or Card information with anyone unless you are willing to give them full use of your money. Your Account, Login Credentials or Card information can be used by thieves to issue an electronic debit or to encode your number on a false demand draft that looks like and functions like an authorized check. If you furnish your access device and grant actual authority to make transfers to another person (a family member or friend for example) who then exceeds that authority, you are liable for the transfers unless we have been notified that transfers by that person are no longer authorized. Keep your Account numbers, Login Credentials, statements, virtual card number, Card information, and Card secure at all times. Make sure to also keep your mobile device and computer secure at all times and avoid accessing the Mercury App when others can see your screen. If your Account numbers, Login Credentials, Card Information, Card, or mobile device are lost or stolen, notify Servicer immediately to limit your liability for unauthorized transactions that may occur. We reserve the right to place a hold on your Account or Card if we suspect irregular, fraudulent, unlawful or other unauthorized activity involved with your Account or Card. We may attempt to notify you of such a hold, but we are not required to provide notice prior to placing the hold. You agree that we may maintain such a hold until all claims against you or us to the funds held in your Account, whether civil or criminal in nature, have been resolved fully in our sole satisfaction. You are solely responsible for any actions or failure to act on the part of Authorized Users, and for all activity that occurs within your Account.

2.6. Updating information

You must notify us immediately if there is a change to your name, telephone number, residential address, email address or any other information you have provided us. You may notify us of changes to information through updating your profile details in the Mercury App. We may require proof of any change to certain information. We will attempt to communicate with you only by use of the most recent email address you have provided to us. Any notice we provide to you will be deemed received when sent to the last (postal or electronic) address for you in our records, or when made available to you in the Mercury App. We may change your address if we receive an address change notice from the U.S. Postal Service or if we determine in our sole discretion that the address in our records no longer matches your address.

3.1. Purpose

Your Account is are subject to the terms and conditions set forth in this Agreement. Your Account is offered under this Agreement for the purposes of conducting permitted deposit, withdrawal, and funds transfer transactions.

The Card is an access device that may be used to access the funds in the  Account, subject to the terms of this Agreement.

Your Account is an interest-bearing deposit account used to hold your deposits and make payments and transfers to other accounts at other banks and to third parties through the Mercury App. This Agreement will cover all of your Accounts with us and a single Truth in Savings Disclosure will apply to your Accounts.

To the fullest extent permitted by law, we do not assume any fiduciary obligation on your behalf. You are responsible for all authorized transactions initiated and fees incurred by use of the Account or Card.

3.2. Ownership

We may open an Account without regard to whether you are married or whether the funds deposited into your Account are community or separate property. You may open the Account that you own alone or with more than one person, in which case, the Account will be considered a joint account. We determine the ownership of the Account based on the information you give us and our records.

3.3. Joint Accounts

You may designate your Account as held jointly in ownership with others (a “Joint Account”). A Joint Account is a multi-party account that is payable on request to one or more of the owners of the Account. Any co-owner on the Account (each a “Joint Owner”) has complete control over all of the funds in the Account. We do not keep a separate record of each joint owner’s interest in the account. Each co-owner acts as the agent of each other co-owner and authorizes each other co-owner to operate the Account without the consent or approval of any other co-owner. A co-owner may add additional joint owners to the Account or terminate the Account. We may act and rely upon any instructions of a co-owner without liability to any other co-owner. We may act and rely upon any instructions from any Joint Owner (or an owner’s authorized representative) without obtaining any other owner’s consent and without liability to any other co-owner. We may act on the oral or written instructions of any co-owner, and each co-owner may make withdrawals, write checks, transfer funds, stop payments, obtain other services, and otherwise give us instructions regarding the Account. The payment or delivery or transfer of all or any part of the joint account or any rights relating thereto to an attorney-in-fact appointed by any one joint owner shall be a valid release and discharge to the Bank of all joint owners. Each joint owner guarantees the signatures of the other joint owners and authorizes the others to endorse checks for deposit if they are payable to any of the joint owners. Each Joint Owner is jointly and severally liable for all charges to the Account and obligations to us under this Agreement. Each Joint Owner authorizes us to exercise its right of setoff on the entire Joint Account even though only one of the Joint Owners is the debtor. Notice provided by Bank to any one Joint Owner shall be deemed notice to all Joint Owners. You may not use a Joint Account for a partnership, joint venture, other organization for a business purpose; nor as an agent or trustee for a corporation, association, or civic organization; nor as a fiduciary for a trust account controlled by the terms of a trust instrument. In a Joint Account, a Joint Owner may be removed from an Account only by the agreement of all account owners, including the account owner seeking to be removed. We treat Joint Owners as joint tenants with right of survivorship, unless applicable state law requires other treatment, or we agree with you in writing that the Account is owned in some other way. This means that at the death of one owner, the ownership of the Account and right to all the funds in the Account passes to the surviving owner(s), subject to our rights under this Agreement, including rights of setoff and security interest in the Account, and any pending legal process against the Account. Applicable state law may impose requirements that must be met to create a Joint Account with right of survivorship, and you are solely responsible for meeting such requirements. The right of survivorship of Joint Account owners may not be altered by will.

3.4. Payable on death account

For payable on death (“POD”) Account, the Account is payable to the surviving beneficiary(ies) you designated on your Account when we receive proof of your death or the death of the last surviving co-owner. You or your co-owner may change or remove the beneficiary(ies) at any time by notifying us through the Mercury App. The beneficiary acquires rights to the Account only if the Account owner(s) die and beneficiary is living. No rights in an Account with a payable on death designation vest in the designated beneficiaries until the death of the Account owners. Unless otherwise provided in the beneficiary designation, if two or more beneficiaries are named and survive the death of all persons owning the Account, such beneficiaries will own the Account in equal shares as joint tenants with the right of survivorship. Upon the death of the last surviving Account owner, we are entitled to pay funds in an Account with a payable on death designation to the then-surviving designated beneficiaries and are not liable to the persons establishing the Account, their heirs, representatives or assigns or to any other person by reason of any such payment. If no designated beneficiary is living when the last surviving account owner dies, we are entitled to pay funds in the account to the legal representative of the last surviving Account owner.

We are not required to make payment from the account to a signer, payee, beneficiary or POD account or to any other person claiming interest in any funds in the Account if we have actual knowledge of, or otherwise believe in good faith that there may be, a bona fide dispute as to the rights to the Account or funds therein or if we otherwise are uncertain as to who is entitled to the Account or funds there.

3.5. Linking external account

You may link your bank account at another financial institution located in the U.S. (“Linked Account”) to your Account in order to transfer funds between your Linked Account and your Account. We may require you to provide proof that the external account: (i) is a deposit account held at a bank located in the U.S.; (ii) is an account in which you have full right and authority to the funds; (iii) is not a trust account; and (iv) is individually or jointly owned by you. You may not link a business account. We may restrict linking to an external account at specific financial institutions. You authorize us, our agents, and service providers to verify ownership of the Linked Account. You represent and warrant: (1) that you have the right to authorize any and all charges and debits to the Linked Account; (2) the Linked Account is held at a depository institution located in the U.S.; and (3) you are individually or jointly the owner of the Linked Account. You will indemnify and hold us harmless from any claims by any person related to the Linked Account, including any other owner of the Linked Account. You are not permitted to link your Account with a credit, debit, gift, or other type of card issued by a third party or another bank. You may deposit funds into or withdraw funds from your Account by using the Mercury  App to initiate an Automated Clearing House transfer to or from the Linked Account. Requests for ACH debits to the Linked Account that are made before 9:00am Pacific Time on a Business Day shall be considered received on the business day the request is made. Requests for ACH debits to the Linked Account that are made after 9:00 AM Pacific Time on a Business Day or on a non-Business Day, shall be considered received the next Business Day. When you link a Linked Account solely owned by you to the Account you own jointly, you authorize us to share information about your Linked Account with each joint-owner. If you link a Linked Account owned by more than you to the Account you own jointly, you authorize us to share information about your Linked Account, including joint owners, with each joint-owner, and you represent and warrant that you have the authority from each joint-owner of the Linked Account to provide such authorization.

3.6. Statements

We make statements available to you online through the Mercury App. You will get a monthly account statements through Servicer (unless there are no transfers in a particular month, and in any case you will get the statement at least quarterly). You agree to immediately notify us if you do not receive your statement by the date you normally expect to receive it, as this can be a sign that there is an issue with your Account. You agree to notify us promptly if you change your mailing address or email address. You also agree that if the U.S. Postal Service or one of its agents notifies us of a change in address for you, we may change your address based on such information, even if the information provided by the U.S. Postal Service is in error. If any statement is returned to us because of an incorrect address, we may stop sending statements to you, but for all purposes it shall still be considered as if we made your statement of account available to you as of the statement date that was or would have been printed on your statement, showing information sufficient to allow you to reasonably identify the items paid. We reserve the right to implement standard charges for any paper statements.

It is your responsibility, and you agree, to examine each statement for any unauthorized signature, alteration, error, or irregularity on the statement or the items. You agree to contact us immediately upon your discovery of any error or unauthorized transaction appearing on your statement in accordance with this Agreement. Timely notification is required of you to resolve certain errors or unauthorized transactions.

Except as otherwise provided by Applicable Law, herein or in other applicable agreements, you agree to notify us immediately of any error, discrepancy or unauthorized transaction you discover on any statement, notice or check, no later than 30 days from when the statement was mailed or made available to you (this includes: missing deposits; unauthorized electronic transfers; missing, stolen, or unauthorized checks or other withdrawal orders; checks or other withdrawal orders bearing an unauthorized signature, endorsement or alteration; illegible images; encoding errors made by you or us; and counterfeit checks). If you fail to do so, you may become responsible for the losses resulting from such failure. This 30-day limitation is without regard to whether we did or did not use ordinary care and does not otherwise restrict any right we have under law or other agreements with you. Except as otherwise provided by Applicable Law, herein or in other applicable agreements, you further agree that if you fail to notify us within 30 days of making the statement available to you, then you are precluded from asserting against us the error, problem, unauthorized transaction or forged, altered or unauthorized item and any subsequent forged, altered or unauthorized item from the same wrongdoer.

We may send statements and notices to one owner of an Account jointly owned, and you agree that owner is responsible for sharing copies of the information with all other owners.

For electronic fund transfers (as defined by Regulation E), please see Electronic Fund Transfer Disclosure for information on rights you may have with respect to these transfers.

3.7. Power of Attorney and Death or Incompetence

You may give another person (an “Attorney in Fact”) authority to act on your behalf by providing us power of attorney documentation that meets our requirements. We may refuse to honor any power of attorney or refuse to permit your Attorney in Fact to access your Account or Card as permitted by law.  An Attorney in Fact may not open an Account or request we issue a Card on your behalf. Once we accept your power of attorney, the Attorney in Fact may access your Account or Card unless we have had a reasonable opportunity to act on written notice that you have passed away or the power of attorney has been revoked. We have no duty to monitor or ensure that the acts of your Attorney in Fact are for your use or benefit or are otherwise permissible under Applicable Law. We are not liable if your Attorney in Fact exceeds the powers granted or does not comply with your instructions. In order to complete a power of attorney request, we may be required to contact you to confirm your desire to designate an Attorney in Fact. If we are unable to contact you to confirm your power of attorney designation, we may not accept your power of attorney or we may close your Account or terminate your Card.

Upon receiving notification of your death or incapacitation, we may place a hold on your Account and refuse all transactions until we know and have verified the identity of your successor. Until we receive notice and any required proof of death or incapacitation, we may continue to accept deposits and process transactions to your Account. Your estate will be responsible for repaying us for any tax liability resulting from payment of your Account balances to your estate. You agree to hold us harmless for any actions we take based on our belief that you have died or become incapacitated, or any notices of death or incapacitation that we receive. If certain payments originating from government entities are deposited into your Account after your death, we may be required to return those payments to the originator upon notice. If you owe us a debt at the time of your death, we are authorized to exercise our right of setoff or security interest rights against the funds credited to your Account after your death.

4.1. Rate and Fee Schedule

Information on applicable rates and fees is set forth in the Truth in Savings Disclosures. You authorize Bank to access your Account to debit any fees, charges, or costs owed to Bank, even if doing so creates an overdraft.

4.2. Rate and Fee Schedule

There is no initial deposit or minimum balance required to qualify for the interest rate on the funds in your Account.

Interest is compounded monthly and credited to your Account monthly. Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal balance in the Account each day. This means that the interest from your Account is calculated every day on a 365-day year (or a 366-day calendar year in a leap year, for Account that were open and funded before that leap year or new Account opened and funded before March 1 during that leap year).

Your Account has a variable interest rate. That means we may, at our discretion, change the interest rate at any time and as often as we choose, without limits, and we will provide you with any notice required by Applicable Law. Interest begins to accrue on the Business Day we received the deposit in accordance with the Funds Availability Policy described in Section 9 below.

We reserve the right to not pay interest on any deposit that is recalled, returned, or returned to us unpaid.

We pay interest only in whole cents. Therefore, at the end of each interest payment period, any fractional amount of interest less than one cent may be rounded down. 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 in the Truth in Savings Disclosures. The interest rate applicable to your Account may vary depending on whether your Account is a Checking or Savings Account. See the Truth in Savings Disclosures provided below for further details about the APY and earning interest on your Account.

4.3. Servicer Platform Fees

To remain eligible for the Account or Card, you must maintain an account in good standing with Servicer, including paying any fees owed to Servicer for access to the Mercury App and services offered by Servicer such as an annual Subscription Fee of $240. You authorize Servicer to debit such fees from your Account.

Deposits are subject to limitations specified in this Agreement. For security reasons, we may impose deposit limits. Confidentiality of certain details related to these additional limits is essential to the security of an account or system. Additional transaction limits may be disclosed to you through the Mercury App. You may also contact the Servicer for details regarding the current limits applicable to your Account. When you make a deposit, we act only as your collection agent and will not be responsible beyond the exercise of ordinary care. The following terms apply to deposits made to your Account:

5.1. Deposit Methods

You may deposit funds to your Account by initiating a funds transfer from a Linked Account. You may also deposit funds to your Account by Mobile Check Deposit, if enabled by Bank for your Account, debit card, international wire transfers or any other method we make available.

5.2. Cash, ATM, or Foreign Currency Deposits

You cannot deposit paper checks, cash or any form of deposit denominated in a foreign currency into your Account. You may not make any deposit by mail. We are not responsible for deposits made by mail, night depository, or other outside depository. We may return any paper check, cash, or foreign currency mailed to us to the address we have on file for you. We are not liable if you do not receive the returned funds. You may not make deposits into your Account at any automated teller machine (“ATM”), unless we make such method available to you . All deposits must be of, or denominated in, United States currency.

5.3. ACH Transfers

You may make deposits through ACH Transfers into the Account from a Linked Account that is ACH enabled. We may place limits on the amount of funds transferred based on total dollar amount or frequency, and we will disclose such limits to you at the time you schedule your ACH Transfer. We may reverse any ACH Transfer to or from your Account without prior notice to you at any time as permitted by NACHA Operating Rules. We may reverse any provisional credit to your Account for which final payment is not received. ACH Transfer instructions must be received before 9:00 AM Pacific Time to be sent on the same day, otherwise the instruction shall be considered received on the next Business Day. We may process ACH Transfer instructions in the order in which we determine, in our discretion. We are not required to accept or execute any ACH Transfer instruction. You authorize Bank to originate ACH Transfers on your behalf to the Linked Account and that you will be bound by the rules of NACHA. We may audit your compliance with the requirements hereunder.

5.4. Mobile Check Deposit

If enabled by Bank for your Account, you may deposit funds to your Account by Mobile Check Deposit, pursuant to Bank’s terms and conditions for mobile check deposit (See Exhibit 1). You agree not to deposit substitute checks or checks bearing a substitute check legal equivalence statement to your account without our prior written consent. Unless we agree otherwise in writing, our acceptance of such checks shall not obligate us to accept such items at a later time, and we may cease doing so without prior notice. If we approve the deposit of substitute checks, you agree to indemnify, defend and hold us harmless from all losses, costs, claims, actions, proceedings and attorney’s fees that we incur as a result of such checks, including without limitation, any indemnity or warranty claim that is made against us because: (a) the check fails to meet the requirements for legal equivalence; (b) a claimant makes a duplicate payment based on the original check, the substitute check, or a paper or electronic copy of either; or (c) a loss is incurred due to the receipt of the substitute check rather than the original check. Upon our request, you agree to provide us promptly with the original check or a copy that accurately reflects all of the information on the front and back of the original check when it was truncated.

5.5. Right to Refuse Deposits

We may refuse a deposit, or part of a deposit, at any time and for any reason. We also may refuse a deposit after initially accepting it. We will not be liable to you for refusing a deposit, even if it causes us to decline any transactions you have already made. In addition to any of the limitations specified in this Agreement, we may further restrict or limit your ability to receive transfers when we reasonably believe there may be fraudulent, suspicious or illegal activity on or impacting your Account or Card.

5.6. Deposit Discrepancies

When you make a deposit to your Account, we will credit your Account for the amount of the deposited items. We reserve the right to review the deposit and confirm the amount you deposited but are not required to do so. If after any review we determine that the amount credited to your Account is incorrect, we may adjust your Account for the amount of the discrepancy but reserve the right not to do so if the discrepancy would not be a disadvantage to you.

5.7. Deposit Liability

Bank is not liable for any deposits not received by Bank. Credit given by us to you with respect to a transfer to your Account is provisional until collection is final, including on us transfers. Provisional credit may be reversed at any time without notice. If final payment is not received or if any transfer deposited is charged back to us for any reason, you are hereby notified and agree that we are entitled to a refund of the amount credited to your Account in connection with such transfer, and the party making payment to you via such transfer shall not be deemed to have paid you the amount of such transfer. If a deposit or transfer to your Account is returned or rejected by the paying financial institution or sender for any reason, or if there is an error or mistake involving a deposit or transfer, we may deduct the amount of the deposit, transfer or error without prior notice to you.

Withdrawals are subject to limitations specified in this Agreement. For security reasons, we may impose withdrawal limits. Confidentiality of certain details related to these additional limits is essential to the security of an account or system.  Additional transaction limits may be disclosed to you through the Mercury App. You may also contact the Servicer for details regarding the current limits applicable to your Account.  You may make withdrawals or transfer funds from your Account by any means we make available to you. The Account may not be accessed in person. If drafts, electronic debits, checks or other orders of payment from your Account are issued by any third party, Bank bears no liability for such items. The following terms apply to withdrawals from your Account:

6.1. Manner of Withdrawal

You may make withdrawals from your Account in any manner that is permitted by us for the type of Account that you have opened. We may refuse to accept any check other than standard checks provided by us, or other checks approved by us in advance. Withdrawals and transfers from your Account may be restricted as provided in the Agreement or by Applicable Law.

6.2. Representment

A transfer returned unpaid due to nonsufficient funds may be re-presented for payment by a merchant multiple times. Each representment is a separate transfer. We will determine, in our sole discretion, whether to pay or return each transfer each time it is presented or re-presented to us for payment, which may result in your Account being charged multiple fees related to the same transfer, if we charge insufficient funds fees, and may cause other transfers you have authorized to be declined or returned unpaid. You acknowledge that a representment may be attempted on the same day as (or any later day after) the original attempt to present the transfer for payment. You further acknowledge that we have no control over when a merchant chooses to represent a payment and that it is your sole responsibility to ensure that you maintain adequate funds in your available Account balance to cover all of the transfers you have authorized.

6.3. Withdrawal Restrictions / No Overdrafts

We may refuse or restrict withdrawals and transfers from your Account in our sole discretion for any purpose permitted by Applicable Law. You are not permitted to overdraw your Account.

If there are insufficient funds available in your Account to cover a withdrawal or debit presented against your Account, we may reject such withdrawals in our sole discretion. Even if we choose to pay one or more overdrafts as a courtesy to you, in our sole discretion, we are not obligated to cover any future overdrafts and fees or interest may apply to any overdraft we permit. If your Account balances becomes negative for any reason, you must make a deposit immediately to cover the negative balance. If your Account have a negative balance for thirty (30) calendar days or more we reserve the right to close the Account. In the event you fail to pay the amount of any overdraft and Bank refers your overdrawn Account to an attorney for collection, you agree to pay all reasonable expenses, including, but not limited to, reasonable attorneys’ fees and court costs incurred by Bank as a result of your account being overdrawn.

6.4. Request for Information

Before permitting a withdrawal or other transaction, we may request that you provide us with additional information or documentation that we deem necessary to confirm your identity or to prevent illegal activity. We may refuse the transaction if you do not comply with our request.

6.5. Real Time Payments

You can use the Real Time Payments Service (“RTP”) to receive a Request for Payment ("RFP") from other individuals or businesses with a bank account at a financial institution participating in RTP ("Payee") and to pay such RFPs from an eligible checking account to that Payee using RTP.

Transfers using RTP may be made only in U.S. Dollars and only between accounts at banks located in the United States that are participating in RTP. When you enroll to use RTP to receive RFPs or send payments, you agree to the terms and conditions of this Agreement.

In order to avoid potential duplicate payments to the same biller, you agree to turn off any e-bills or other duplicate electronic billings or recurring payment arrangements you have with the same Payee from whom you elect to receive an RFP. Failure to do so may result in over payments.

We reserve the right to suspend or terminate your use of RTP if we believe, in our sole discretion, that you have violated any of these terms or conditions or are otherwise engaging in a fraudulent or other illegal manner.

Upon your receipt of a RFP, you may respond by making a payment in an amount you designate to the Payee submitting that RFP or you can elect to disregard the RFP. You may make a one-time immediate payment or a future-scheduled payment in response to an RFP. Recurring payments are not available at this time. You may make payments 24 hours a day, 7 days a week, including weekends and holidays.

By making a request to send a payment, you authorize us to debit your account for the amount of the payment and to transfer that amount to the Payee you designate. You also understand that your account will be debited immediately for a one time immediate payment, or on the date you have scheduled for a future-scheduled payment, in the amount you have designated and a transfer will be made in real time to that Payee's financial institution. However, we do not control when the financial institution will credit the intended Payee’s account or when your account with the Payee will reflect the payment. If we fail to process a payment in accordance with your properly completed instructions and the RTP requirements, we will reimburse you for any late payment fees charged by the Payee, in addition to any other remedies that may be available to you under this Agreement.

Since all payments are irrevocable and cannot be reversed, you should be careful to verify that the RFP you receive is from a Payee you know and trust and that the amount you enter is correct before sending a payment. We make no representations or warranties that the information contained in an RFP is accurate and complete. It is your responsibility to verify the accuracy of that information prior to sending a payment. You will still be responsible for any payment you authorize us to make even if you enter the wrong amount. We will not be liable for any typographical, keystroke or other errors made by you.

We do not offer a protection program for authorized payments made through RTP. We will not be liable if you do not receive the goods or services that you paid for, or if the goods or services are damaged or otherwise not what you expected. You are responsible for resolving any such disputes you may have with the Payee to whom you sent a payment through RTP.

Immediate transfers made using RTP are irrevocable and cannot be reversed or stopped once made.   

We may limit your use of the RTP services, including limiting the dollar and frequency of RTP payments.

RTP transfers are subject to the security procedures set forth below, except, to the extent RTP transfers are subject to Regulation E, the terms of the Electronic Fund Transfer Disclosure applies.

6.6. Check Withdrawals Requests

You may not withdraw deposits from your Account by check or preauthorized demand drafts. However, you may request individual preauthorized checks from Bank to be remitted as payments to third parties (“Check Withdrawal Requests”) through the Mercury App. Check Withdrawal Requests must include a payee address located within the fifty (50) states of the United States and its territories. You must pre-fund the Account prior to submitting a Check Withdrawal Request, and Bank shall have no obligation to execute any checks requested by you for which funds are not available in the Account. Check Withdrawal Requests to remit checks to an international address will be denied. Once requested and approved, a paper check will be generated and sent to the payee name and address provided by you. You are solely responsible for ensuring the accuracy of the information contained in a Check Withdrawal Request and Bank and Servicer are not liable for checks sent to an incorrect address or payee. You authorize us to debit your Account for the check amount. You authorize us to release funds availability information about your Account to individuals or merchants who represent to us that they have received a check from you.

Checks deemed undeliverable will be returned to you at the postal address on file we have on file for the Account. You agree and acknowledge that Bank and Servicer are not liable for any damages incurred by you arising from, or related to, any Check Withdrawal Requests, including any damages arising from an incorrect address or refusal of a payee to accept a check drawn on the Account as payment.

You may not make a payment of alimony, child-support, taxes, or other governmental fees or court-directed payments via Check Withdrawal Requests.

Checks may be refused or returned by the individual or company to whom the payment was issued. The determination to accept this method of payment is at the discretion of the recipient. If the check payment is returned for any reason, the payment will be voided and the full amount credited to your Account the next Business Day.

If your check has not been presented for payment within ten Business Days, we may investigate the status of the check. If the payee cannot be reached, or the payment is to an individual and the check has not been presented for payment within ninety (90) days after the date the funds are withdrawn from your Account, we may place a stop payment order on the check and refund your Account.

All negotiable paper checks presented for deposit must be in a format that can be processed and we may refuse to accept any check that does not meet this requirement. All endorsements on the reverse side of any check deposited into your account must be placed on the left side of the check when looking at it from the front, and the endorsements must be placed so as not to go beyond an area located ½ inch from the left edge of the check when looking at it from the front. It is your responsibility to ensure that these requirements are met and you are responsible for any loss incurred by us for failure of an endorsement to meet this requirement.

You agree that when you submit a Check Withdrawal Request, you may not request to date the check in the future. If you do and the check is presented for payment before the date of the check, we may pay it or return it unpaid. You agree that if we pay the check, the check will be posted to your Account on the date we pay the check, even though the posting date is prior to the date of the check. You further agree that we are not responsible for any loss to you in doing so.

We reserve the right to pay or dishonor a check more than ninety days old without prior notice to you.

6.7. Stop Payment Order Against a Check or Other Item

A stop payment request against a check or other item payable from your Account (“Stop Payment Order”) will be effective if we receive the order at such time and in such manner as to afford us a reasonable opportunity to act upon the order. A Stop Payment Order is effective for six (6) months; however, if the original Order was made orally and is not confirmed in writing by contacting Servicer via email, Servicer’s App, or Servicer’s Website within fourteen (14) calendar days, we reserve the right to cancel the Stop Payment Order. A Stop Payment Order may be renewed for additional six (6) month periods if renewed during a period within which the Stop Payment Order is effective. You must provide the date, the amount, and the number of the item or authorization, together with the name of the payee, for a Stop Payment Order to be complete and effective. If you give us incomplete or incorrect information, Bank and Servicer will not be liable for failing to stop payment on the item or authorization. Our acceptance of a Stop Payment Order will not constitute a representation that the item or authorization has not already been paid or that we have a reasonable opportunity to act upon the order. You may not stop payment on an official, certified, cashier's, or teller's check issued by us, or request us to stop payment if we have otherwise become accountable for the item or authorization. In addition, you may not stop payment on payment methods governed by a separate agreement. Further you may not stop payment on an item or authorization after acceptance of the same by us.

6.8. Checks Issued by a third party

We do not support the issuance of personal checks to access funds in your Account. We reserve the right to refuse to make payments initiated via a check printed by a third-party service provider.

6.9.   Wires and Payment Orders

Payment Orders

The following provisions apply to payment orders governed by Division 11 of the California Commercial Code. The provisions do not apply to the transactions described in the Electronic Fund Transfer Disclosure (i.e., fund transfers to or from consumer accounts that are subject to the Electronic Fund Transfer Act or the Consumer Financial Protection Bureau’s Regulation E) or to payments by check, draft or similar instrument, but do apply to all other fund transfers including, but are not limited to, Fedwire transfers; transfers of funds for the primary purpose of purchasing or selling securities or commodities regulated by the Securities and Exchange Commission (“SEC”) or the Commodity Futures Trading Commission (“CFTC”), purchased or sold by a broker-dealer regulated by the SEC or through a futures commission merchant regulated by the CFTC, or held in book-entry form by a Federal Reserve Bank or federal agency purchase or sale of a security or commodity; automatic intra-bank transfers under an agreement with us; and telephone-initiated transfers that are not the function of a written plan contemplating periodic or recurring transfers.

Rules of Funds Transfer Systems

Funds transfers to or from your Account will be governed by the rules of the funds transfer system(s) through which the transfers are made (“system rules”), including Fedwire, the National Automated Clearing House Association, the Electronic Check Clearing House Organization, any regional association, the Clearing House Interbank Payments System (“CHIPS”), the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”), the RTP network operated by The Clearing House, or other funds transfer system. Funds transfers through Fedwire will be governed by, and subject to, Regulation J, Subpart B, and Uniform Commercial Code Article 4A incorporated by reference thereunder. Funds transfers through CHIPS are governed by, and subject to, CHIPS Rules and Administrative Procedures and by the laws of the State of California, including Article 4A of the California Uniform Commercial Code, regardless of whether the payment message is part of a funds transfer that is a “Remittance Transfer” governed by section 919 of the Electronic Fund Transfer Act (EFTA), 15 U.S.C. section 1693o-1, except that in the case of an inconsistency between California law and EFTA, EFTA shall govern to the extent it applies to the transaction.                                        

At our discretion, we may process your payment order to transfer funds to another account with us or to an account maintained with another financial institution. We reserve the right to reject any payment order without cause or prior notice, and may notify you of the rejection orally, electronically or in writing. You agree not to violate the laws of the United States or any other laws, including without limitation, the economic sanctions administered by the U.S. Treasury’s Office of Foreign Assets Control. Outgoing and incoming wires involving transactions or business opportunities facilitated by the mail, the telephone or the internet, which involve illegal gambling, the opportunity to purchase or participate in a lottery, the purchase or sale of medical marijuana (regardless of whether deemed legal by the State of California or any other state or local government) or the clearing of checks payable to or intended for payment to third parties for a profit are strictly prohibited.

For each fund transfer that you want to send through us, you must complete, sign or authorize and give us a separate fund transfer request in a form that is acceptable to us. We will exercise reasonable effort, but make no guarantees, to process your funds transfer on the same Business Day as you requested the transfer. The request must be received by us before the applicable cutoff time, which is 5:00 p.m. PT for wire fund transfers and 5:00 p.m. PT for ACH fund transfers, in order to make a “same day transfer”. If we receive your request after such cutoff time, we will treat it as if it were received on our next Business Day. We may process any payment order we receive after our processing cutoff hour on our next funds transfer Business Day.

Payment Order Accuracy

You must accurately describe the beneficiary of your payment order and the beneficiary’s financial institution. If you describe any beneficiary or institution inconsistently by name and account number, we and other institutions may process the order solely on the basis of the account or identifying number, even if the order identifies a person or entity different from the named beneficiary or institution. We may also process incoming fund transfers based on the account or identifying number, even if the number is inconsistent with the name reflected in the payment order. If you give us a payment order that is erroneous in any way, you agree to pay the amount of the order whether or not the error could have been detected by any security procedure we employ.

Cancellation/Amendment of Payment Orders and Wires

You do not have a right to cancel or amend any payment order after we receive it. Although we may attempt to act on any amendment or cancellation request you make (e.g., if it is received in a time and manner which permits us to do so), we assume no responsibility for failing or refusing to do so, even if we could have affected the change or cancellation. You agree to indemnify, defend and hold us harmless from any loss, damage, claim, action, and liability that results, and any charges and costs we incur, in connection with any request by you to amend or cancel a payment order.

6.10. Unauthorized Payment Orders and Wires

We may process any payment order we believe is transmitted or authorized by you if we act in compliance with a security procedure (herein, “security procedure(s)”) 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, in our discretion, confirm the authenticity and content of payment orders (among other ways) by placing a call to any person identified in our system for your account (though we are not required to do so). 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. If we take any action not provided in the security procedures in connection with any payment order, such additional action shall not be deemed to become a mandatory part of the continuing security procedures. You understand and agree that we will use the security procedures to verify the authenticity of payment orders and that the security procedures are not designed to, and are not used for, the purpose of detecting errors in transmission or content of payment orders, including discrepancies between account names and numbers. Before sending a payment order request to us, you agree to review the security procedures and determine whether they will provide a commercially reasonable method for verifying whether a payment order is yours. As part of the review, you will consider the size, type, and frequency of payment orders you normally make or anticipate making, along with such other factors as you may deem relevant or appropriate. If the size, type or frequency of payment orders made by you change such that the security procedures in use by you no longer provide a commercially reasonable method of providing security against unauthorized payment orders, you agree to immediately notify us. If we act on a payment order in compliance with the security procedures, then you will be obligated on the payment order, and it will be treated as your payment order, whether or not authorized by you. Regardless of whether or not we complied with the security procedures, any payment order received by us will be treated as yours and will bind you if the payment order is delivered to us directly or indirectly by any authorized representative. You will also be responsible for the payment order if you would otherwise be legally bound by the payment order, regardless of whether the payment order was erroneous in any respect or that any loss would have been prevented if we had complied with the security procedures.    

Notice of Errors

You agree to review all statements and notices promptly to confirm the accuracy and authorization of each payment order. You will notify us immediately if there is any discrepancy between your payment order and any confirmation or statement of account, or if you discover any other problem with respect to a transfer. You must send a written notice to us of the discrepancy or other problem, including a statement of the relevant facts, within a reasonable time (not to exceed 14 days from the date you first discover the problem or receive a statement or notice reflecting the problem, whichever occurs first).                                         

Provisional Credit

Credit given by us to you with respect to a payment order is provisional until we receive final settlement for such entry through a Federal Reserve Bank. If we do not receive final settlement, you are hereby notified and agree that we are entitled to a refund of the amount credited to your account in connection with the payment order, and the party (the originator of the entry) making payment to you will not be deemed to have paid you the amount of the payment order.

Our only liability, if any, and your exclusive remedy, if any, in connection with an incomplete funds transfer, or otherwise because of a funds transfer (including a failure to make such transfer), will be for us to compensate you in an amount commensurate with the interest which you would have earned had the transfer taken place.

6.11. Card Transfers

Once you activate your Card, we may permit you to withdraw funds from your Account using the Card, including (i) withdrawing money at automated teller machines ("ATMs"); (ii) withdrawing money from point of sale (“POS”) terminals (including "cash-back" transactions where a merchant gives you cash from your checking account); and (iii) make POS purchases. If you use your Card at an ATM not owned by us for any transaction, the owners of ATMs may charge you for using their ATM. If there is such a charge, you should be told how much it is before you complete the withdrawal. If you then decide to withdraw the money, the amount of the withdrawal, plus the charge, will be deducted from Account at the time of the transaction. This ATM fee is a third-party fee amount assessed by the individual ATM operator only and is not assessed or controlled by us. Servicer may reimburse such third-party ATM fees by crediting the amount back to your Account within three (3) business days.

6.12. Remittances

Transfers sent outside of the United States that are initiated by consumers primarily for personal, family or household purposes are governed by federal law that may provide certain rights and obligations that differ from the rights and obligations that apply to other types of payment orders. If made available to you, remittance transfers you send through us are governed by the Supplemental Terms Governing Remittance Transfers (see Exhibit 2).

7.1. Transaction posting order

Bank reserves the right to decide the order of the items Bank will pay and which items will be returned (if any). Bank’s posting order may not be the same as the order in which you conducted a transaction and could result in overdraft fees if you do not have available funds at the time the item is paid. Posting order impacts your available Account balances. 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. Generally, Bank posts the following transaction types (to the extent applicable to your Account) after the close of each Business Day in the following order:

• Deposits and credits Bank receives before the close of each Business Day will be posted before any withdrawals.
• Your debits and withdrawals will be posted in date/time order, based on the date and time associated with each transaction. Card purchases will be posted according to the date and time provided by the merchant. The order by which you make transactions on your Account may not be the same as the order in which we post those transactions to your Account. If date and time are not available, by lowest to highest dollar amount.

You agree that we may determine in our discretion the orders in which we post transactions to your Account. We reserve the right to change our order of posting from time to time. Your available Account balances may not include (1) transactions you have authorized that we have not received, (2) Card transactions where the card authorization has been removed before the transaction is settled due to a merchant’s delay in settlement, or (3) the full amount of a Card transaction where the settlement amount is greater than the card authorization amount. Your available Account balance is viewable at any time through the Mercury  App, but it is important to understand that it may not reflect transactions you have authorized that have not yet been presented to us for payment. If a transaction is presented without sufficient funds in your Account to pay it, we may, at our discretion, return the transaction for insufficient funds (NSF).

7.2.  Funds Availability

Bank makes funds available according to the type of deposit and when the funds are applied or credited to your Account and in accordance with Applicable Law. Some types of deposits may not be available for immediate use. When Bank delays the availability of funds or places a hold on a deposit made to your Account, you may not withdraw those funds, and Bank will not use them to pay any debits. Bank has the right to refuse any deposit. The length of the delay in the availability of funds varies depending on the type of deposit. If final payment is not received on any item you have deposited into your Account, you agree to pay Bank the amount of the returned item if such item has already been credited to your Account. You may only deposit funds that are immediately available.

Bank receives deposits each Business Day. If you make a deposit by electronic payment before 5pm Pacific Time on a Business Day, we will consider that day to be the day of your deposit. However, if you make a deposit after 5pm Pacific Time or on a non-Business Day, we will consider that the deposit was made on the next Business Day.

Deposits made by electronic payment, excluding those by ACH debit transactions, will be made available to you the day that the deposit is received but no later than the first Business Day after the day that the deposit is made.

Deposits made by any other permissible deposit method, excluding deposits by Mobile Check Deposit,  will be made available no later than the second Business Day after the day that the deposit is made.

If enabled by Bank for your Account, the availability of deposits made by Mobile Check Deposit are subject to the terms of the Mobile Check Deposit Addendum.

We reserve the right, subject to Applicable Law, to hold funds pending settlement or for such period of time as we deem necessary, in our sole discretion, to cover items which may be returned unpaid.

7.3.  Special rules for new accounts

Accounts open less than thirty (30) days may be limited in functionality. Funds credited to your Account may be made available provisionally or delayed for a reasonable amount of time in accordance with Applicable Law. Certain transfer limits may be lower during this time for certain features and services, or as allowed under Applicable Law or regulation.

8.1.  Transaction screening

Bank may screen and reject any funds transfer request in good faith, including because Bank believes that the funds transfer, if executed, would not comply with Applicable Law or would exceed the amount of funds in your Account or any established limits on your Account or your Card. Bank is not liable for failing to complete a transaction from your Account on-time or in the correct amount.

8.2.  Accuracy of information

When you originate any funds transfer request through any method made available to you by Bank (including ACH transfers), you are responsible for providing accurate payment information. It is your obligation to verify the information you provide to us including, but not limited to, the identity and relationship of the receiving party, account number, and routing number. Bank is not responsible for any loss or damage you incur from your request for a funds transfer. We and any other financial institution involved in the transaction will rely upon the information you provide, as well as information provided by the external bank sending transfers to you, when we process transfers on your behalf. We are not responsible for the accuracy of this information and are not required to investigate such information prior to initiating a transfer.

9.1.  General

We may (but are not obligated to) issue you a Card that will automatically link to your Account and be funded by your Account. If a Card is made available to you, the Card allows you to access funds deposited to your Account by you or on your behalf pursuant to the terms of this Agreement. The Card is not a credit card, prepaid card or a gift card and may not be gifted, sold or transferred. The expiration date of the Card is listed on the Card. However, the funds in your Account will not expire, regardless of the expiration date listed on your Card. The Card will remain the property of the Bank and must be surrendered upon demand. The Card may be cancelled, repossessed, or revoked at any time without prior notice, subject to applicable law. We have no responsibility for failure of any machine, merchant, financial institution or any other party to honor your Card. We may decline to authorize a transaction for any reason. We are not responsible for any losses you may incur if we do not authorize a transaction. You understand that any person may deny acceptance of or refuse to accept your Card and we are not responsible for such denial or refusal.

Not all services or features of your Card described in this Agreement are available to all persons or at all locations. Any offer of a service or feature of your Card or Account in this Agreement will be deemed void where prohibited. Use of the Card is also subject to all applicable rules and customs of any payment network, clearing house or other association involved in transactions in addition to this Agreement.

9.2.  Activating your Card

You must activate the Card and complete the activation process before it may be used. You may need to provide personal information in order for your identity to be verified and for completion of the activation process. You must maintain your PIN in confidence and not give it to anyone. You should memorize your PIN and not write down your PIN or keep your PIN with your Card. If you believe that anyone has gained unauthorized access to your PIN, you should advise us immediately.

9.3.  Card Use

Once your Card is active, subject to the limitations of this Agreement, you may use your Card, as applicable, to make purchases at any merchant that accepts payment using the Card, as long as you do not exceed the value available in your Account and subject to the transfer limits disclosed in the Mercury App.

Each time you use the Card, you authorize the Bank to reduce the value available in your Account (i.e., debit your Account) by the amount of the transaction and any applicable fees. We reserve the right to refuse to make any transfer or process any transaction for security, credit, legal/regulatory, or other reasons, as we determine in our sole discretion. Subject to applicable law, you are responsible for all transactions you authorize using the Card, including any losses, charges, or penalties incurred as a result. See the Electronic Fund Transfer Disclosure below for additional information and limitations on your liability.

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 the Card or return the Card to the Bank, upon its request.  With your PIN, the Card may be used to obtain cash at ATMs or POSs, subject to limitations set forth in Exhibit 3. The Card cannot be used at ATMs outside the U.S. without prior notice and approval.

9.4.  Foreign Transactions

A foreign transaction is any transaction (1) made in a foreign currency, or (2) made in U.S. dollars if the transaction is made or processed outside of the United States. Foreign transactions include, for example, online transactions made in the U.S. but with a merchant who processes the transaction in a foreign country. The Card may be used to conduct international purchase transactions, including, without limitation, transactions conducted on international merchant websites or mobile applications accessible within the U.S.; provided the merchant accepts the Card. If you make a foreign transaction a foreign transaction fee (see pricing information) will be assessed. If a transaction is made in a foreign currency, the transaction will be converted by Mastercard into a U.S. dollar amount in accordance with the operating regulations or conversion procedures in effect at the time the transaction is processed and as contained in the Agreement. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. The Card may be used to conduct transactions within the 50 United States, District of Columbia and U.S. Territories (Puerto Rico, Guam, Northern Marianas, the U.S. Virgin Islands, and American Samoa). Charges from foreign merchants and financial institutions may be made in a foreign currency. We will post transactions to your Account in U.S. dollars based on the exchange rate on the day we settle the transaction, plus any special currency exchange charges that may be imposed the Mastercard network and/or by any third-party used to complete the transaction. The exchange rate applied to each such transaction is (1) a rate selected by Mastercard; or (2) the government-mandated rate in effect for the applicable central processing date. Because of the special charges and possible differences in exchange rates between the time we settle and the time you initiated the transaction, the charge for a foreign transaction may be less than or greater than the purchase at the time it was made. Foreign transactions are subject to any other fees imposed by the payment network and/or any third party used to complete the transaction, and will be included in the amount charged to your Card or otherwise be debited from your Account.

9.5.  Card Not Present Transactions

If you initiate a transaction without presenting your Card (such as for a mail order, internet or telephone purchase), the legal effect will be the same as if you used the Card itself. For security reasons, the amount or number of such transactions you may make may be limited.

9.6.  Split Transactions

If you do not have sufficient funds in your Account, you can instruct the merchant to charge a part of the purchase to the Card and pay the remaining amount with cash or another card. These are called “split transactions”. Some merchants do not allow cardholders to conduct split transactions. Some merchants will only allow you to do a split transaction if you pay the remaining amount in cash. If you fail to inform the merchant that you would like to complete a split transaction before swiping your Card, your Card is likely to be declined.

9.7.  Authorization Holds

When you use your Card to pay for goods or services, merchants may ask us to authorize the transaction in advance and before the final debiting of funds from your Account, which will occur later when the merchant presents the authorization for settlement. Some merchants may also add an amount to an authorization to ensure that sufficient funds will be available to cover the final transaction (such as an estimated tip). We will only debit your Account in the amount of the transaction indicated by the merchant when the authorization is presented for settlement.

When a Card transaction is authorized, we may place a temporary hold (“Authorization Hold”) on your Account for the amount indicated by the merchant. It may be several days or longer before the merchant presents the authorization for final settlement and the funds under the Authorization Hold are debited from your Account. Funds on an Authorization Hold are not available to you for other transactions that are not the subject of the hold. 

If the merchant does not promptly settle the transaction, we will generally release the Authorization Hold within 5 business days from the time of authorization. For certain types of transactions, the Authorization Hold can be longer, including up to 60 days for certain transactions, including car rental, hotel, and international Card transactions. This list is not exhaustive and Authorization Holds may remain for longer periods. You agree that the merchant has sole responsibility for when an authorized transaction finally settles. 

The amount of each purchase or payment, including any cash withdrawals, will be deducted from your Account. You agree that we may hold funds representing purchases or bill payments authorized until posted to your Account.

9.8. Return of Funds

If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to your Account for refunds and agree to the refund policy of the merchant. Neither the Bank nor Service Provider is responsible for the delivery, quality, safety, legality or any other aspects of the goods or services you purchase from others with the Card. If you have a problem with a purchase you made with the Card, or if you have a dispute with the merchant, you must handle it directly with the merchant. The amounts credited to your Account for refunds are generally made available to you within seven (7) days from the date the refund transaction occurs.

9.9.  Card Suspension and Cancellation

We reserve the right, at any time and in our sole discretion, to limit your use of the Card, including limiting or prohibiting specific types of transactions. We may refuse to issue a Card, revoke Card privileges, or cancel your Card with or without cause or notice, other than as required by applicable law. If you would like to cancel the use of your Card, you may do so by notifying us through the Servicer through the Mercury App or the number on the back of your Card. You agree not to use or allow others to use an expired, revoked, cancelled, suspended or otherwise invalid Card. The cancellation of Card privileges will not otherwise affect your rights and obligations under this Agreement.

9.10.  Secondary Card

Except as permitted in the subsection below, you may not request an additional Card for another person, for any reason.  To the extent you allow another person to use your Card, you are liable for all transactions submitted through the Card, subject to applicable law, including Regulation E and the Electronic Fund Transfer Act.

9.11.  Lost Card Information

If you believe your Card or PIN has been lost, stolen or compromised, immediately call the number on the back of your Card or notify us using the Mercury App. Please refer to the Electronic Fund Transfers Disclosure for information on lost or stolen Cards and how to limit your liability for unauthorized transactions. If you need to replace the Card for any other reason, contact Servicer through the Mercury App to request a replacement. You will be required to provide personal information which may include the last four digits of your Card number, your full name and knowledge of the Card transaction history.

9.12.  Card Liability Limits

Additional Limits on Liability for Consumer Debit Mastercard®: You will not be liable for any unauthorized transactions using your consumer debit Mastercard if:

• you can demonstrate that you have exercised reasonable care in safeguarding your debit card from the risk of loss or theft, and
• upon becoming aware of a loss or theft, you promptly report the loss or theft to us. Mastercard is a registered trademark of Mastercard International Incorporated.

9.13.  Authorized Users

You are responsible for all transactions authorized by you and fees incurred by use of your Card. If you permit another person to have access to your Card or Card number, we will treat this as if you have authorized such person to use the Card for all purposes, and you will be liable for all transactions and fees incurred by such person, even if they exceed the authorization granted. You are wholly responsible for the use of your Card according to the terms and conditions of this Agreement.

You may request an additional Card (“Additional Card”) for your use or use by another person who is an authorized user. The authorized user is designated to conduct transactions on your behalf. The maximum number of Additional Cards permitted is one Card per authorized user, per Account. We reserve the right to limit the number of authorized user of your Account. Authorized user(s) must be over the age of 18. We may require you to submit certain information about each person you request to make an authorized user on your Account. We may refuse to accept an authorized user for any reason, at our sole discretion. Authorized users will have access to certain information about your Account and will be able to make transactions with your Account. We may also limit an authorized user’s ability to use the Account.

The authorized user’s authority is automatically terminated by the death of any owner of the Account. However, we may continue to honor the transactions of the authorized user until: (a) we have received written notice or have actual knowledge of the termination of authority, and (b) we have a reasonable opportunity to act on that notice or knowledge. You agree to share this Agreement with each authorized user and explain that their use is subject to its terms.

Additional Card(s) may only be loaded by the Account owner; funds cannot be loaded to Additional Cards. Daily purchase and cash access limits may be applied on an individual  Card basis. You must notify us to revoke permission for any person you previously authorized to use the Card(s). To cancel an Additional Card, call the toll-free number on the back of your Card or customer service at 1-(415) 878-1068 and you must follow-up not later than ten (10) business days with the written notification to revoke (cancel) permission for any person you previously authorized to use your Card or an Additional Card. Until we have received your written notice of such a revocation (cancellation) and have had a reasonable time to act upon the written notification of cancellation, you are responsible for all transactions and fees incurred by you or any authorized user, and all transactions any authorized user makes will be treated as if you had made the transaction yourself. If you tell us to revoke (cancel) another person’s use of your Card or Additional Card, we may revoke (cancel) your Card and we may issue a new Card with a different Card number and/or account number. Authorized users may remove themselves from your Account upon request. You also must immediately destroy all Additional Cards in their possession, and cancel any arrangements, such as automatic or scheduled transactions they may have set up on your Account. We may also cancel or deactivate any Additional Card or access device or credentials issued to or used by such authorized user to access your Account.

You are wholly responsible for the use of each Card according to the terms of this Agreement, subject to applicable law. For the avoidance of doubt, Additional Card is also considered a Card for purposes of this Agreement.

When you open an Account, you agree to participate in Bank’s deposit sweep program (“Deposit Sweep Program”) and agree to be bound by the Deposit Sweep Program terms and conditions (the “Sweep Agreement”). Deposits that we place for you in connection with the Deposit Sweep Program are “deposits” as defined by Applicable Law and may be eligible for FDIC insurance. Refer to the Sweep Agreement for more details.

11.1. Recovery Assistance

To the greatest extent permitted by law, if you claim a credit or refund because of an unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require concerning your Account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing, or stolen Card or access credentials or unauthorized withdrawals. You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. To the greatest extent permitted by law, our liability will be reduced by the amount you recover or are entitled to recover from these other sources.

11.2. Notice

Except as otherwise provided in this Agreement, in the event you must contact Bank or send Bank any notice required by this Agreement, you must do so by contacting Servicer.  Servicer’s contact information is set forth at the top of this Agreement.

Except as otherwise expressly provided in this Agreement, Bank is not required to act upon any communication, notice, or instruction received from you or any other person or to provide any notice or advice to you or any other person with respect to any matter. Notwithstanding the foregoing, if Bank acts upon any communication, notice, or instruction, then Bank has a reasonable time in which to act, after actual receipt of the notice or instruction.

11.3. No waiver

Bank does not waive its rights by delaying or failing to exercise them at any time. Neither party shall, by mere lapse of time, be deemed to have waived any breach by the other party of any terms or provisions of this Agreement. The waiver by either party of any breach shall not affect our right to enforce any of its rights with respect to other customers or to enforce any of its rights with respect to later transactions with you and is not sufficient to modify the terms and conditions of this Agreement.

11.4. Illegal transactions, account restrictions, account closures

You must not use your Account or Card for any illegal purposes, to conduct transactions in order to hide or disguise funds or assets derived from illegal activities, or, regardless of whether it is legal or illegal, including internet gambling. This prohibition includes any transaction that is illegal in the jurisdiction where you live, in the jurisdiction where the transaction is consummated, or in any other jurisdiction affected by the transaction. You are responsible for determining the legality of each of your transactions in all applicable jurisdictions before entering into the transaction. We have no obligation to you under this Agreement to monitor, review or evaluate the legality of any transaction. We reserve the right to place a hold on your Account if we suspect irregular, fraudulent, suspicious, unlawful or otherwise unauthorized activity, subject to Applicable Law. We may attempt to notify you of such a hold but unless required by law, we are not required to provide notice prior to placing the hold or thereafter. We also may attempt to contact you to obtain additional information regarding the activity in your Account or related to your Card. We reserve the right to maintain any hold and restrict access to the Account or Card until we receive the requested information, subject to Applicable Law. To the maximum extent permitted by Applicable Law, you agree that we may maintain such hold until all issues, including claims against you or us, concerning the funds held in your Account have been resolved fully to our sole satisfaction. We also reserve the right to reject any incoming credit transaction. Bank will not be held liable for any loss you incur if your Account are restricted or subject to a hold, subject to Applicable Law. Notwithstanding the foregoing, we may collect on any debt arising out of any illegal or unlawful transaction, to the extent permissible under Applicable Law.

11.5. Unlawful internet gambling transactions prohibited

You certify that you do not engage in, and during the life of this Agreement will not engage in, any activity or business that is unlawful under the Unlawful Internet Gambling Enforcement Act of 2006, 31 USC 5361, et seq., (the “UIGEA”). You may not use your Account, Card, or any other service we offer to receive, transfer, or credit funds, instruments or proceeds that arise out of a business that is unlawful under the UIGEA. You agree that if anyone asks us to process a transaction that we believe is restricted under the UIGEA, we may block the transaction and take any other action we deem to be reasonable under the UIGEA and this Agreement. You may not use your Account or Card for online gambling or any illegal transactions. Bank may refuse to process any transaction that it believes may violate the terms of this Agreement or Applicable Law. You acknowledge and agree that Bank has no obligation to monitor, to review or to evaluate the legality of your transactions. To the fullest extent permitted by law, you agree to pay for any transaction that you authorized, even if that transaction is determined to be illegal.

11.6. Holds

We may place administrative holds on the funds in your Account (refuse payment or withdrawal of the funds) if they become subject to a claim adverse to (A) your own interest; (B) others claiming an interest as survivors or beneficiaries of your Account; or (C) a claim arising by operation of law. The hold may be placed for such period of time as we believe reasonably necessary to allow a legal proceeding to determine the merits of the claim or until we receive evidence satisfactory to us that the dispute has been resolved. We will not be liable for any items that are dishonored as a consequence of placing a hold on funds in your Account for these reasons.

11.7. Rights to set off

You hereby grant and assign to us a security interest in your Account with us, and all property and funds in your Account, to secure any amount you owe us under this Agreement or our service providers, now or in the future, except as provided under Applicable Law. Subject to Applicable Law, this includes any debts that now exist and debts that you may incur later, your obligations under a guaranty, and also includes all fees you owe us or our service provider. You agree that we control your Account and may perfect our security interest granted herein. To do so, you agree that we shall comply with any and all order, notices, requests and instructions originated by us directing disposition of the funds in your Account without any further consent from you, even if such instructions are contrary to your instructions or demands or result in our dishonoring transactions which are presented or processed for payment. We may exercise our right of setoff or security interest even if the withdrawal results in an early withdrawal penalty or the dishonor of subsequent checks or transactions. The security interest granted herein is in addition to our right to setoff. You agree to hold us harmless from any claim arising as the result of our security interest in, or enforcement of our security interest against, your Account or our exercising of any right to setoff. If your Account balances becomes and remains negative or you are determined to owe Bank any amounts for any reason, Bank can use the funds in your Account or any other account that you own at the Bank to repay any amount owed without further notice to or demand on you. This means Bank has the right to set off any liability, direct or contingent, past, present or future that you owe against any account you have with Bank. You agree that we are not responsible for dishonoring transactions presented against your Account when the exercise of our right of setoff or security interest results in insufficient funds in your Account to cover the transactions. Our right of setoff or security interest may be exercised before or after the death of an Account holder and can follow the proceeds to any other account held by us. You cannot give a security interest or pledge your Account to someone other than us without first getting our express written consent, which we may withhold for any or no reason.

We may use, and you grant us the right to use, funds held in your joint accounts to repay obligations on which any owner is liable, whether jointly with another or individually. Additionally, we may use, and you grant us the right to use, funds held in your individual accounts to repay your obligations to us, whether owned by you individually or jointly with another, even if the obligations are not directly incurred by you.

11.8. Tax reporting and backup withholdings

You acknowledge that the Account cannot be opened and no Card can be issued if you are currently subject to backup tax withholding. Federal law requires us to report the interest you have earned. Interest earned will be reported under your Social Security Number or Individual Taxpayer Identification Number. You must certify your Social Security Number or Individual Taxpayer Identification Number during the application process.

Unless you are exempt, we are required to withhold a portion of your interest income and certain other payments (this is referred to as backup withholding) if: (i) you fail to supply us, under penalties of perjury, with your correct taxpayer identification number (TIN); (ii) you fail to provide us with the required certified information; (iii) the IRS instructs us to withhold; or (iv) the IRS notifies you that you are subject to backup withholding. We may report interest and other payments to you to the Internal Revenue Service (IRS), along with your TIN.

A non-resident alien or foreign entity not subject to information reporting must certify its exempt status by completing an appropriate IRS certification form (e.g., W-8 BEN). Non-resident aliens may be required to certify their exempt status every three years (or earlier upon request) to avoid backup withholding.

You may be subject to civil and criminal penalties if you fail to provide us with a correct TIN or falsify information with respect to withholding. For additional information on interest reporting and withholding, contact your tax advisor or the IRS.

11.9. Legal processes affecting accounts

If legal action such as a garnishment, levy or other state or federal legal process (“Legal Process”) is brought against your Account, Bank may refuse to permit (or may limit) withdrawals or transfers from your Account until the Legal Process is satisfied or dismissed. Regardless of the terms of such garnishment, levy or other state or federal process, Bank has first claim to any and all funds in your Account for your liability under this Agreement. Bank will not contest on your behalf any such Legal Process and may take action to comply with such Legal Process as Bank determines to be appropriate in the circumstances without liability to you, even if any funds Bank may be required to pay out to comply with the Legal Process leaves insufficient funds to pay a transaction that you have authorized. Payment is made after satisfying any fees, charges or other debts owed to Bank. You agree that you are responsible for any expenses, including legal expenses and fees Bank incurs due to any Legal Process on your Account. Bank may charge these expenses to your Account. You will indemnify Bank for any losses if it does this.

In the event of any dispute over the funds other than a legal action (including, without limitation, any dispute over what persons are authorized to represent or act for the Account owner), we may, in our sole discretion:

●      continue to rely on the Account documents in our possession, and rely on instructions from the owner or persons we reasonably believe is authorized to represent or act for the owner;

●      honor the competing claim upon receipt of evidence we deem satisfactory to justify such claim;

●      refuse to pay out any money from the  Account until the dispute has been resolved by a court or by agreement of the parties that is documented to our satisfaction;

●      file an action in interpleader with respect to any money where we have been notified of disputed claims to that money, and we are not required to determine whether that dispute has merit in order to refuse to pay, or interplead, the funds; and/or

●      close the Account and pay the proceeds to the Account owner or to the owner and all who have or claim an interest in the account.

Any such claim is subject to our security interest in your Account and our right of setoff. We will not have any liability to you if there are insufficient funds to pay your transfers because we have withdrawn funds from your Account or in any way restricted access to your funds in accordance with the claim. Unless prohibited by law, you agree that we may charge against your Account any fees or expenses we incur because of any such dispute, including, without limitation, attorneys’ fees and our internal expenses.

11.10. Account inactivity and escheatment

An Account that is inactive for twenty-two (22) months may be considered dormant. Each state has varying laws as to when an account is subject to escheatment and Bank may be required to send the balance in your Account to the state of your last known address. You understand that if your Account is inactive (dormant), we may close your Account. We reserve the right to refuse to return any unused balance amount less than $1.00, subject to applicable law. You agree that we are relieved of all responsibility if your Account balance is escheated in accordance with Applicable Law. Your Account will become inactive unless you have conducted activity in your Account, such as depositing or withdrawing funds, accessing your Account via the Mercury App, or contacting Servicer for assistance with your Account.

11.11. Account termination, cancellation, or amendment

Bank may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement on the Mercury App, and any such amendment shall be effective upon such posting to the Mercury App, unless additional advanced notice is required under Applicable Law. You will be notified of any amendment(s) in the manner provided by Applicable Law prior to the effective date of the amendment(s). However, if the amendment(s) is made for security purposes or your benefit, Bank may implement it without prior notice. Bank may cancel, restrict, or suspend your Account, Card, or terminate this Agreement at any time. You may cancel this Agreement by contacting Servicer to close your Account. Your cancellation of this Agreement will not affect any of Bank's rights or your obligations arising under this Agreement prior to cancellation.

If your Account is cancelled, closed or terminated for any reason, we will return the remaining balances to you via ACH transfer to one of your external accounts on Bank's records or via paper check to the address on file. For security purposes, you may be required to supply identification, external account, and address verification documentation prior to issuing an ACH refund or refund check. Bank reserves the right to refuse to return any unused balance amount less than $1.00.

11.12. No warranty of availability or uninterrupted use

From time to time, services related to the Account or Card may be inoperative. You agree that, except as required by Applicable Law, Bank will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures, nor shall Bank be liable for extended interruptions due to failures beyond Bank's control, including, but not limited, to the failure of interconnecting and operating systems, computer viruses, forces of nature, labor disputes and armed conflicts.

11.13. Bank's relationship with you

This Agreement and the deposit relationship do not create a fiduciary or agency relationship with Bank. The relationship between Bank and you is that of creditor and debtor and under no circumstances will Bank owe you any fiduciary or other duty. We are responsible for exercising only ordinary care in carrying out our obligations under and complying with this Agreement. When we take an item for processing by automated means, ordinary care does not require us to examine the item. In all other cases, ordinary care requires only that we follow standards that do not vary unreasonably from the general standards followed by similarly situated banks.

11.14. Section Headings

The headings in this Agreement are only for convenience and do not in any way limit or define your or our rights or obligations under this Agreement. This Agreement will be binding on your personal representatives, executors, administrators, and successors. Unless it would be inconsistent to do so, words and phrases used in this Agreement should be construed so the singular includes the plural and the plural includes the singular, and the words “include,” “includes” or “including,” mean without limitation by reason of enumeration.

11.15. Systems and software and force majeure

We shall not be responsible to you for any loss or damages suffered by you because of the failure of systems and software used by you to interface with our systems or systems and software utilized by you to initiate or process banking transactions whether such transactions are initiated or processed directly with our systems or through a third-party service provider. You acknowledge that you are solely responsible for the adequacy of systems and software utilized by you to process banking transactions and the ability of such systems and software to do so accurately. You agree we have no responsibility or liability to you or any third party for failure or delay in our performance under this Agreement or for any losses due to causes or conditions including, without limitation, delays and/or interruptions of business due to any act of God, natural disaster, fire, pandemic, act of government authority, act of public enemy or war, riot, civil disturbance, insurrection, labor difficulty, power failure, telecommunications failure, severe adverse weather condition or other causes beyond our reasonable control. The time, if any, required for such performance under this Agreement, shall be automatically extended during the period of such delay or interruption.

11.16. No warranty regarding goods or services

Bank is not responsible for the quality, safety, legality, or any other aspect of any goods or services you purchase using your Account or Card.

11.17. Survival

All provisions of this Agreement shall survive the termination of this Agreement or closure of your Account by either party for actions arising in connection with this Agreement or your Account(s).

11.18. Ordinary Care

You agree that any act or omission made by us in reliance upon or in accordance with any provision of the Uniform Commercial Code as adopted in the state of California, or any rule or regulation of the state of Utah or a federal agency having jurisdiction over the Bank, shall constitute ordinary care

11.19. Governing law

This Agreement shall be governed by federal law and, to the extent not superseded by federal law, the laws of the State of California. You understand that we must comply with Applicable Law, as well as the operating rules of any applicable Funds Transfer System. You agree that if there is any inconsistency between the terms of the Agreement and any Applicable Law, the terms of the Agreement will prevail to the extent any such law, regulation, or rule may be modified by agreement. If otherwise, Applicable Law shall govern but only to the extent of such inconsistency.

11.20. Severability

If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement (or any prior agreement you may have had with us) shall not be affected.

11.21. Reclamation

Electronic payments made by the Federal Government to Social Security and Railroad Retirement recipients are subject to reclamation after the death of the recipient. Subject to Applicable Law, we reserve the right to charge the account to which the electronic payments were made for the full amount of the reclamation.

11.22.  Assignability

Neither the Account established or Card issued under this Agreement are assignable or transferable by you except with our consent. Neither your Account nor Card are transferable and neither are  assignable as collateral for a loan or for any other purpose. We must approve any pledge of the Account and any such pledge remains subject to any right we have under the Agreement and applicable state and federal law. If ownership is proposed to be transferred, we may require the Account be closed and a new account opened in the name of the transferee or pledgee.

Except as required by Applicable Law, Bank shall have no liability to you if Bank is unable to complete a transaction for any reason beyond Bank's control. Except as otherwise expressly provided in this Agreement or as otherwise required by Applicable Law, Bank, Bank's affiliates, Servicer, and their employees, contractors, officers, directors, and assigns, along with the parties with whom Bank contracts in order to offer your Account, Card, and/or related services, are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to your Account, Card, any products or services purchased using Account or Card, or this Agreement (as well as any related or prior agreement you may have had with Bank). You waive all claims and any right to recover from Bank on any claim of negligence, breach of any implied covenant, breach of fiduciary duty, commercial unreasonableness, loss of business, or loss of business opportunity or advantage. Except as otherwise required by Applicable Law, Bank’s liability for any act or omission will not exceed your direct losses.

Unless another time is provided in another provision of this agreement, or required by Applicable Law, to the maximum extent permitted by Applicable Law, an action or proceeding by you to enforce an obligation, duty or right arising under this agreement or by law with respect to your account or any account service must be commenced within one year after the cause of action occurs.

To the extent permitted by Applicable Law, you agree to defend, indemnify, and hold harmless Bank and its subsidiaries, affiliated companies, employees, contractors, officers, directors, and assigns against any and all claims, suits, damages, costs, lawsuits, fines, penalties, liabilities, and expenses (including, without limitation, reasonable attorneys' fees) that arise from your use of the Account, or Card, your acts or omissions, or your violation of this Agreement, Applicable Law, or any third-party rights or your fraud or willful misconduct. Bank reserves the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.

You agree that, by entering into this agreement, you and bank are each waiving the right to a trial by jury or to participate in a class action, collective action, private attorney general action, or other representative proceeding of any kind. You can opt out of this class action waiver by contacting bank at 1110 gorgas ave, suite a4-700 san francisco, ca 94129 within thirty (30) days after you first accept the terms of this agreement, stating that you (include your first and last name) decline this class action waiver.

Except for disputes that qualify for small claims court, all disputes arising out of or related to this agreement or any aspect of the relationship between you and bank, whether based in contract, tort (including negligence), statute, fraud, misrepresentation, or any other legal theory, will be resolved through final and binding arbitration before a neutral arbitrator instead of in a court by a judge or jury and you agree that bank and you are each waiving the right to trial by a jury. You can opt out of this arbitration requirement by contacting bank at 1110 gorgas ave, suite a4-700 san francisco, ca 94129 within thirty (30) days after you first accept the terms of this agreement, stating that you (include your first and last name) decline this arbitration requirement. You agree that any arbitration under this agreement will take place on an individual basis; class and mass arbitrations and class actions are not permitted and you are agreeing to give up the ability to participate in a class action. Only individual relief is available, and disputes of more than one customer or user cannot be arbitrated or consolidated with those of any other customer or user.

The arbitration will be administered by JAMS under its Comprehensive Arbitration Rules and Procedures (“Comprehensive Rules”), unless otherwise required by law. The Comprehensive Rules are available online at http://www.jamsadr.com/rules-comprehensive-arbitration/. Any in-person appearances will be held at a location which is reasonably convenient to both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, such determination should be made by JAMS or by the arbitrator. The arbitrator's decision will follow this Agreement and will be final and binding. The arbitrator will have authority to award temporary, interim, or permanent injunctive relief or relief providing for specific performance of this Agreement, but only to the extent necessary to provide relief warranted by the individual claim before the arbitrator. Notwithstanding anything to the contrary in this Dispute Resolution Provision, if a final decision, not subject to any further appeal or recourse, determines that the limitations of this Section are invalid or unenforceable as to a particular claim or request for relief (such as a request for public injunctive relief), you and we agree that that particular claim or request for relief (and only that particular claim or request for relief) shall be severed from the arbitration and may be litigated only in the courts in the State of New York. All other Disputes shall be arbitrated or litigated in small claims court. To reduce the time and expense of the arbitration, the arbitrator will not provide a statement of reasons for his or her award unless requested to do so by all parties. The award rendered by the arbitrator may be confirmed and enforced in any court having jurisdiction thereof. An arbitration award and any judgment confirming it apply only to that specific case; it cannot be used in any other case except to enforce the award itself. Notwithstanding any of the foregoing, nothing in this Agreement will preclude you from bringing issues to the attention of federal, state, or local agencies and, if the law allows, they can seek relief against Bank for you.

This Dispute Resolution Provision will survive termination of your Account, this Agreement and any bankruptcy by you or us. If any portion of this Dispute Resolution Provision is deemed invalid or unenforceable under any principle or provision of law or equity it will not invalidate the remaining portions of this Dispute Resolution Provision, this Agreement or any prior agreement you may have had with us, each of which will be enforceable regardless of such invalidity.

IF YOU DO NOT AGREE TO THE TERMS OF THIS AGREEMENT, DO NOT ACTIVATE OR USE THE ACCOUNT.

Electronic Fund Transfer Disclosure

This Electronic Fund Transfer Disclosure applies to electronic fund transfers to or from your Account to the extent the transfers are governed by Regulation E (excluding remittance transfers governed by Subpart B of Regulation E). This Electronic Fund Transfer Disclosure seeks to inform you of your rights and obligations under Part A of Regulation E. This Electronic Fund Transfer Disclosure does not cover “remittance transfers” or wire transfers governed by Part B of Regulation E.

Transfer Types and Limitations

Account access The following electronic fund transfer services are available to you when you open an Account with us:

• Cash withdrawals. You can use your Card and PIN at ATMs and certain POSs to withdraw cash from your Account.
• Direct Deposits. You may permit a payor to make direct deposits to your Account to the extent a payor offers direct deposits.
• Other Deposits. You may make deposits from your Linked Account or by automated clearing house transfer to your Account.
• Pay for purchases at places that have agreed to accept the Card.
• ACH transfers to and from the Account.

Limitations on frequency and dollar amounts of transfers. There are limitations on the frequency and amount of transactions you can make to or from your Account. The limitations are available in the Mercury App. For security reasons, we may impose additional deposit limits. Confidentiality of certain details related to these additional limits is essential to the security of an account or system.

Consumer Liability for Unauthorized Transactions

(Tell us AT ONCE if you believe your Card, Login Credentials or any code used to access your Account have been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your Account. If you tell us within 2 Business Days after you learn of the loss or theft of your Card, Login Credentials or any code used to access your Account, you can lose no more than $50 if someone used your Card, Login Credentials or any code used to access your Account without your permission.

If you do NOT tell us within 2 Business Days after you learn of the loss or theft of your Card, Login Credentials or any code used to access your Account, and we can prove we could have stopped someone from using your Card, Login Credentials or any code used to access your Account without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a hospital stay) kept you from telling us, we will extend the time periods.

Contact in Event of Unauthorized Transfer

If you believe your Card, Login Credentials or any code used to access your Account has been lost or stolen, call or email us at the phone number or email address set forth under the section titled “Customer service contact information” above or notify us through the Mercury App. 

You should write to the email address or call the number listed above if you believe a transfer has been made using the information related to you without your permission.

Fees 

Please see Section 5 and Rate and Fee Schedule for a description of fees. Additionally, when you use an ATM not owned by us, you may be charged a fee by the ATM operator or any network used (and you may be charged a fee for a balance inquiry even if you do not complete a fund transfer).

Documentation

Receipts. You can get a receipt at the time you make any transfer to or from your Account at participating ATMs or when you use your Card at a point of sale (POS).

Periodic statements. You will get a monthly account statement through Servicer (unless there are no transfers in a particular month, and in any case you will get the statement at least quarterly). Please see Section 3 for additional information.

Confirmation of Preauthorized Deposits (Credits). If you have arranged to have electronic deposits made to your Account from the same payor at least once every sixty (60) days (for example, if you have direct deposit of your Social Security payments to your Account), you can find out if your deposit has been received by contacting the Servicer through the Mercury App. These electronic deposits will also appear on the periodic statements for your Account. We are not required to provide any other written notice to you concerning the receipt of such payments.

Notice of Varying Payment Amounts. If your recurring electronic payments may vary in amount, the person or company you intend to pay should tell you, ten (10) days before each electronic payment, the date the payment will be made and how much it will be. The person or company that you are paying may choose to give you the option to get this notice only when the payment would differ by more than a certain amount from the previous payment or when the amount would fall outside certain limits that you set. You should contact the person or company you are paying with any question about these notices.

Preauthorized Payments

If you have scheduled a recurring debit EFT (also known as a preauthorized transfer), you can stop these transfers by contacting us through the Mercury App or by calling us at the number set forth in the section titled “Customer service contact information” in time for us to receive your request 3 Business Days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call. If you order us to stop one of these payments 3 Business Days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Our Liability

If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

• If, through no fault of ours, you do not have enough money in your Account to make the transfer.
• If the automated teller machine where you are making the transfer does not have enough cash.
• If the terminal or system was not working properly and you knew about the breakdown when you started the transfer.
• If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.
• Circumstances beyond our control prevent the transfer,
• Failures caused by circumstances beyond our control despite reasonable precautions.
• If funds are not available due to a hold or if the Account or funds are subject to a legal action.
• If we do not complete a transaction because we have reason to believe the transaction is unauthorized or illegal.
• Your Account or Card has been frozen, revoked, canceled, terminated, closed or suspended.

Confidentiality 

We will disclose information to third parties about your Account or the transfers you make: (i) where it is necessary for completing transfers; (ii) in order to verify the existence and condition of your Account for a third party, such as a credit bureau or merchant; (iii) in order to comply with government agency or court orders; (iv) if you give us written permission; (v) to verify your identity and determine if we should open an Account for you or issue you a Card using services provided to us by third parties; or (vi) as explained in our Privacy Notice (available at https://column.com/legal/privacy-notice).

Services offered by Servicer are subject to Mercury Privacy Policy (available at https://mercury.com/legal/consumer-privacy).  Bank does not have control over your data provided or collected by Servicer in connection with its services.

Error Resolution Notice

In Case of Errors or Questions About Your Electronic Transfers email the Servicer using the email address set forth in the section titled “Customer service contact information” or notify us through the Mercury  App as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. In order to reduce your liability, we must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared. When you contact us, you must:

• Tell us your name 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 complaint 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 complaint or question. If we decide to do this, we will credit your account within 10 Business Days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 Business Days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 Business Days to credit your account for the amount you think is in error.

We will tell you the results within three Business Days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation. 

These Truth in Savings Disclosures are provided to help you understand the terms and conditions on which interest is paid and fees are assessed in connection with your Account.

Interest Rate Information:

Savings Account. The current interest rate on your Savings Account is 3.93% and the corresponding APY for your Savings Account is 4%.
Checking Account. The current interest rate on your Checking Account is .001% and the corresponding APY for your Checking Account is .001%.
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on either of your Account at any time.

Minimum Balance Requirements: There is no minimum balance requirement for either of your Account.

Balance Computation Method: We use the daily balance method to calculate the interest on your Account. This method applies a daily periodic rate to the principal balance in your Account each day.

Compounding and Crediting: Interest is compounded monthly and credited to your Account monthly. Interest begins to accrue on the Business Day that we receive your deposit, including non-cash deposits (unless occurring after 5pm Pacific Time , then on the next Business Day). For deposits made via ACH transfer initiated from your Account, interest begins to accrue on the Business Day you initiate the transfer (unless occurring after 5pm Pacific Time, then on the next Business Day). If you close your Account or withdraw funds after interest has accrued but before interest is credited to your Account, you will not receive the accrued interest.

Fee Information: Fees for your Account are set forth in the Rate and Fee Schedule.

Transaction Limitations: Your Account may be subject to transaction limits, which we may establish or modify at our discretion at any time. See the Mercury App for details regarding the current limits applicable to your Account.

Additional Information: Please refer to the Agreement for complete details regarding the Account. Further Information about your Account, including interest rate, APY, available balance, etc., can be viewed through the Mercury App.

MOBILE CHECK DEPOSIT ADDENDUM

This Mobile Check Deposit Addendum (“Check Addendum”) establishes the terms and conditions under which Column National Association (“Bank”) agrees to process remote check deposits to your Account (the “Mobile Check Deposit Service”). This Check Addendum supplements, amends, and forms a part of your Deposit Account Agreement with Bank (the “Agreement”). If there is any conflict between this Check Addendum and the Agreement, this Check Addendum shall govern with regard to the Mobile Check Deposit Services, but only to the extent of such inconsistency. By using the Mobile Check Deposit Services, you agree that you are bound by and will comply with the terms and conditions of this Check Addendum, as well as the Agreement, Applicable Law, and any other terms, conditions, or agreements pertaining to Bank’s provision of the Mobile Check Deposit Services to you.

1.  Definitions

Unless otherwise defined in this Check Addendum, all capitalized terms have the meanings assigned in the Agreement.

“Image” means a legible picture of the front and back of the Eligible Item.

"Service" means the service provided under this Check Addendum under which you may electronically transmit Images to us for deposit to an Account through an eligible Device.

“Eligible Item” means a check not prohibited under Section 5 of this Check Addendum that (i) is a paper item; (ii) is defined as a “check” under Regulation CC; (iii) contains a valid 9-digit United States Routing/Transit Numbers; (iv) is properly endorsed; (v) is payable to you; (vi) is legible and conform to our imaging and processing standards; and (vii) is dated.

“UCC” means the Uniform Commercial Code as adopted in California.

2. Mobile Check Deposit Services

We may provide you with the ability to deposit Eligible Items to your Account remotely using a compatible mobile device (camera), computer hardware (scanner), software or web-based application (“Device”) by creating an Image and delivering such Image and associated deposit image to use. 

If the Image is accepted for deposit by Bank, we will notify you via the Mercury App.

To deposit an Eligible Item using the Service, you must endorse the Eligible Item with your name and the legend “For Electronic Deposit at Column Only” prior to submitting an Image of the Eligible Item to us.

You agree that each Image of the Eligible Item that is transmitted to the us (shall be deemed an “item” within the meaning of Article 4 of the Uniform Commercial Code of the State of California.

If there is any discrepancy or error in the amount of the Image submitted by you and the actual amount of the Eligible Item, we may debit or credit your Account to adjust for any such error or discrepancy. Upon our request for any reason, including, but not limited to assisting in any clearance and collection process, to resolve any third party claims arising out of or in connection with such item or for our audit purposes, you will promptly provide any stored or retained Eligible Item or a copy of such item sufficient to reflect the front and back of the item.

3. Image Requirements

The Eligible Items must contain and clearly indicate an amount to be paid, a preprinted bank routing number, account number, and serial number, be payable to you, and be endorsed for deposit only to the Account. All Images you submit to us using the Service must be legible, accurately capture the front and back of the Eligible Item and all other required data and information from such Eligible Item using a Device that meets the hardware and software requirements we may require from time to time.

You are responsible for ensuring that the Image submitted by you meets Bank’s image quality requirements.

The Image you submit to us for processing, must meet requirements to create a Substitute Check (including all MICR-line information) and include the accurate amount of the Eligible Item. Each time you submit an Image using our Service, you agree that, for all purposes, such Image is an “item” as defined under the UCC and is the legal equivalent of the Eligible Item and that we qualify as a holder-in-due-course under the UCC.

If we provide a “memo” field through our Service or if one is provided on your Device, you may use such field to input information, but you should not enter any sensitive or confidential information like a Social Security or account number. We will not review any entry you make to this field nor do we have any obligation to review such entries. Any entry you make to this field will be at your own risk and liability. We will not be responsible for anything you may enter into this field.

We may accept and treat any Image as endorsed even if you submit it without the endorsements required hereunder.

4. Method of Presentment and Processing Images

Bank may attempt to collect the funds by presenting the Image or converting the Image into a Substitute Check. You acknowledge that the manner in which checks are cleared or presented for payment is in our sole discretion. We reserve the right to select the clearing agent(s) through which we clear Items. You agree to be bound by any clearing house agreements, operating circulars, image exchange agreements or any other related agreements to which we are a party.

A “Substitute Check” is the legal equivalent to the original check and is created from the original check. It can be used as proof of payment. Included on a Substitute Check will be the following words or similar words, “This is a legal copy of your check. You can use it the same way you would use an original check.” The Substitute Check is the accurate copy of the front and back of the original check. We may elect to provide you with a Substitute Check for any check to be returned to you. Unless we agree in writing to take a Substitute Check, you will not submit any Substitute Check, for deposit or otherwise, if we would be the first financial institution to receive the Substitute Check.

We may process Images submitted by you that are legible and that accurately captures all required data and information. If an item is not legible, accurate or does not otherwise meet standard of quality, we may reject and return the item to you without prior notice. We can collect, process, present for payment, return or represent any of your Images in any manner we choose unless otherwise prohibited by applicable law. We do not have to process any Image you submit and can reject any such Image for any reason. If we reject an Image, you will need to resubmit the Image for processing by us. Your payment history (past or upcoming) will not reflect the rejected Image.

5. Prohibited Checks

You may only use Service to submit Eligible Items that are made payable to you, with authentic and authorized signatures, that are not altered.

The following checks are ineligible and may not be deposited using the Service:

• Checks payable for greater than $1 million USD for deposit;
• Returned deposit checks;
• Checks drawn on banks located outside the U.S.;
• Checks payable in a currency other than USD; and
• Checks payable to a third party.

You further agree that you will not use the Service to deposit any checks or other items that (i) are altered on the front of the item, fraudulent or otherwise not authorized by the owner of the account on which the checks are drawn, (ii) have not been previously endorsed by a bank and are either “substitute checks” (as defined in Regulation CC or other applicable federal law or regulation) or “image replacement documents” that purport to be substitute checks, without Bank’s prior written consent, (iii) are payable jointly; (iv) are remotely created payment orders; (v) are dated more than six (6) months prior to the date of deposit, (vi) have any endorsement on the back other than that specified in this section, (vii) have previously been submitted through the Service or through a remote deposit capture service offered at any other financial institution; or (viii) are money orders.

All checks and items not Eligible Items are considered “Prohibited Items.” If you deposit a Prohibited Item, you agree to indemnify and reimburse the Bank for, and hold the Bank harmless from and against, any and all losses, costs and expenses (including reasonable attorneys’ fees) that the Bank may incur associated with any warrant, indemnity or other claim related thereto.

6. Duplicate Presentment

Unless we advise you otherwise in writing, you will not submit for deposit through the Service any check (whether the original check, Eligible Item, or Image) that has been previously submitted for deposit at Bank or any other financial institution, nor will you submit for deposit at any other financial institution any check (whether the original check, Eligible Item, or Image) that has been submitted for deposit to Bank.

7. Funds Availability

Notwithstanding anything to the contrary in any agreement or representation between you and Bank, by using Mobile Check Deposit, you acknowledge that deposits submitted using Bank’s Mobile Check Deposit are not subject to the funds availability requirements of Federal Reserve Board Regulation CC.

Check Deposits are deemed as made when you submit the Check Image as an Eligible Instruction and the Check Image is accepted by Bank.

If you make a deposit before 5pm Pacific Time on a Business Day that we are open, we will consider that day to be the day of your check deposit. However, if you make a check deposit after 5pm Pacific Time or on a non-business day, we will consider that the check deposit was made on the next business day.

Funds from deposits made via the Service generally will be made available by the third Business Day after the day that the deposit is made.

We also may, at our discretion, apply additional delays on the availability of funds from deposits made via the Service based on any other factors as determined by us in our sole discretion.

When you make a check deposit to your Account, we will credit your account for the amount of the deposited item(s). We reserve the right to review the check deposit and confirm the amount you deposited but are not required to do so. If after any review we determine that the amount credited to your Account is incorrect, we may adjust your Account for the amount of the discrepancy.

We may return or refuse to accept all or any part of a deposit to your Account using Mobile Check Deposit at any time and for any reason. We will not be liable to you for refusing or returning a check deposit, even if it causes outstanding checks or other debits to your account to be dishonored or returned or for us to decline any other transactions you have already requested or made.

8. Mobile Check Deposit Limit

Mobile Check Deposit Check limits are disclosed to you through the Mercury App. However, we may allow transactions that exceed your limits, and if we do so, we may increase or decrease that amount (but not below the disclosed limits) without notice.

We may temporarily reduce your limits below these disclosed limits without notice for security reasons.

We reserve the right to modify the foregoing limits, and/or impose limits on the number of deposits that you transmit using the Service from time to time, and will notify you to the extent required by law.

9. Accountholder Warranties and Covenants

You will comply with Applicable Law.

Each time you use the Service, you make all the warranties set forth in and subject to the terms of the UCC for the check as if it were an item subject to the terms of the UCC.

You make the following warranties and representations with respect to each Image and Eligible Item you transmit to us using the Service:

• Each Image transmitted to us is of an Eligible Item and is a true and accurate rendition of the front and back of the Eligible Item (at the time it was transmitted), without any alteration, and the drawer of the check has no defense against payment of the check;
• The amount, the payee, signature(s), and endorsement(s) on the original check are legible, genuine, and accurate;
• You are only transmitting eligible checks you are entitled to endorse;
• All checks include all signatures required for their negotiation;
• You are using the Service only for your own deposits and have not allowed the use of the Service for the benefit of any third party;
• No person will receive presentment or otherwise be charged for a check submitted for deposit at Bank such that the person will be asked to make payment based on a check that has already paid;
• Other than the Image that you remotely deposit through the Service, there are no other duplicate images of the Eligible Item;
• You have possession of each Eligible Item deposited using the Service;
• You have ensured that each Eligible Item was authorized by the drawer in the amount stated on the Eligible Item and to the payee stated on the Eligible Item;
• The information you provided for your Account remains true and accurate, and in the event any such information changes, you will immediately notify us via Servicer of the change; and
• Files and images transmitted to us contain no viruses or any other disabling features that may have an adverse impact on our network, data, or related systems.

10. Deposited Checks Returned Unpaid

We may reverse any credit to the Account for any check that is not paid because (i) it is returned by the financial institution on which it was drawn; (ii) there is a claim that a required endorsement is forged; or (iii) there is a claim the check has been altered.

In the event that a check that you submit to us for deposit for credit to your Account is dishonored, rejected, or returned for any reason, you authorize us to debit the amount of the check from your Account, or offset the amount from any of your other accounts with us, and assess appropriate fees per the Agreement and this Check Addendum. You acknowledge that the returned deposit activity may result in the cancellation of your access to the Service.

In addition, we can place a hold on your Account for any item you submit if a claim is made regarding the item or we have reason to believe the item you submitted was forged, altered, unauthorized, missing signatures, includes a forged endorsement or, if the item was paid, for any reason for which the item should not have been paid. We can take these actions even if you have made withdrawals against the item. You may request a copy of any returned or rejected Image understanding that we can return such item by any method we choose, including as an image with accompanying data or as a Substitute Check.

You agree that we are not liable for any loss, costs, or fees you may incur as a result of the returned deposit activity.

11. Your Responsibility for Maintenance and Destruction of Original Items

Once your check deposit has been credited to your Account you must mark the Eligible Item as “VOID” and retain the check until you have confirmed the item has posted to your Account history, after which, you will destroy it by cutting it up or shredding it.

You agree that you shall be solely responsible for the Eligible Item, including storage, retrieval, and destruction. 

You are solely responsible for all damages arising out of your failure to appropriately safeguard the original checks or failure to destroy them in a timely manner.

12. Additional Security Requirements

In addition to any security requirements set forth in the Agreement, you are solely responsible for maintaining the confidentiality of your credentials and any other means that you may use to securely access the Service and any Device used for such access. If another person's biometric identifier is loaded onto your Device, you must take immediate steps to ensure that the biometric identifier is removed from the Device, otherwise any transaction using such Device by a person who you have granted access to will not be an unauthorized transaction for the purposes of determining liability. Similarly, if you provide your user login credentials necessary to access your Device, you must take immediate steps to change such login credentials to ensure no third party has access to or knows such login credentials. Otherwise, any Image submitted for processing using such Device by a person to whom you provide your user login credential will not be an unauthorized transaction for the purposes of determining liability. If your login credential, biometric authentication or other passcode is compromised or your Account has been used with the Service without your permission, or you have a Device and it has been lost or stolen, you must notify us immediately. If you fail to notify us without delay, you may be liable for part or all of the losses in connection with any unauthorized use of your Account in connection with the Service. It is your responsibility to protect your Device against any unauthorized access and any resulting losses or damages from unauthorized access. You are solely responsible for these security precautions. We will not be obligated or responsible for any of these security precautions.

13. Fees

Fees for the Service are set forth in the Agreement.

14. Deposit Liability

Bank is not liable for any check deposits not received by Bank. We are not obligated to process any Image you submit through the Service and reserve the right to reject or return any unpaid item at our discretion. Further, we will not be responsible for any amount for any item that we do not receive or for any error in submission of any Image from your Device to us. An image will only be deemed to be received by us when we receive confirmation of receipt of such Image. However, any confirmation of receipt is not a confirmation that the submission or the Image was not received error-free, complete and/or that we have accepted it for deposit.

15. Termination of Service

We reserve the right to terminate Bank’s provision of the Service at any time without notice to you.

16. Miscellaneous

If you receive notice of any claim regarding the Service, you shall promptly provide Servicer with a written notice of it.

SUPPLEMENTAL TERMS GOVERNING REMITTANCE TRANSFERS

Certain outgoing electronic international transactions initiated by consumers that are defined as “Remittance Transfers” under Consumer Financial Protection Bureau’s Regulation E from your account established pursuant to the Deposit Account and Debit Card Agreement (the “Agreement”) are subject to these Supplemental Terms Governing Remittance Transfers (“Supplemental Terms”). These Supplemental Terms are incorporated by reference into and supplement the Agreement. Capitalized terms used and not otherwise defined herein shall have the meanings assigned thereto in the Agreement.

1.1. When you request a remittance transfer:

• We will provide you with specific disclosures about the details of the requested transfer in the Mercury App before you may complete the transfer, including, if applicable: (i) the amount that will be transferred to the recipient, (ii) a description of any fees or taxes we impose, (iii) the total amount of the transaction (which is the sum of (i) and (ii) above,) and (iv) the exchange rate we will use in the event you tell us that the receiving account is denominated in a foreign currency and you identify such currency. In addition, if you choose to transfer money in foreign currency, the disclosures will also include the following items in such foreign currency: (x) the transfer amount, (y) the fees imposed by third parties in connection with the transfer, and (z) the total amount to be received by the recipient (which is the difference between (x) and (y) above.) Please note that the recipient may receive less than the total amount disclosed due to foreign taxes and fees charged by the recipient’s financial institution for receiving a transfer into an account, which are not required to be disclosed.
• We will provide you a you a receipt within the Mercury App containing additional information about your transfer, which includes the items listed above and, in addition, (i) the date the funds will be available to the recipient, (ii) information you provide that identifies the recipient, and (iii) a statement of your rights in the event of an error or if you wish to cancel the transfer, as described below.
• You have certain cancellation and refund rights in connection with these transfers, as described below.
• You have certain rights if you suspect an error or problem with a transfer, as further described below.
• Certain provisions limiting our liability to you or make you responsible for losses in various circumstances do not apply and our or your liability or responsibility is instead governed by the rules governing errors for remittance transfers under Regulation E.

1.2. Cancellation and refund for a transfer

You have the right to cancel a transfer and obtain a refund of all funds paid to us, including any fees. In order to cancel, you must contact us via Servicer at 1-415-878-1068 or e-mail at [email protected] within 30 minutes of payment for the transfer. If you initiated the transfer in the Mercury App, you may cancel through the Mercury App for 30 minutes after payment, so long as the funds have not been picked up by the designated recipient or deposited into an account of the designated recipient.    

When you contact us, you must provide us with information to help us identify the transfer you wish to cancel, including the amount and location where the funds were to be sent. We will refund your money within three business days of your request to cancel a transfer, as long as the funds have not already been picked up or deposited into the recipient’s account.

Once a remittance transfer has been sent, after the 30 minute cancellation period has passed, you may request that a transfer be recalled, and we will communicate your request to the beneficiary's bank. If the beneficiary's bank agrees to return the funds to us, then upon confirmation of receipt of funds in our account, we will credit your Account at the current retail buy rate for that currency that day. Please note that the exchange rate may be different from the original rate applicable to the transfer, which may result in a loss to you. Furthermore, the beneficiary's bank may assess charges for their services, which will be deducted from the amount returned to you. We will have no liability to you if the beneficiary's bank or foreign beneficiary refuses your request to recall the transfer.

1.3. Exchange rate

A currency exchange rate may apply to transfers that payout in currencies other than U.S. Dollars.  The payout currency and the applicable exchange rate for your transfer will be reflected in the pre-payment disclosure and the receipt (the “Exchange Rate”).  The Exchange Rate displayed at the time of your transfer request will apply where the related transfer is completed within 15 minutes, after which time a refreshed exchange rate will apply.  The Exchange Rate will be rounded to a consistent number of decimal places for each currency pursuant to applicable laws and regulations.  Any difference in the Exchange Rate disclosed to you and the exchange rate received by us will be kept by us in addition to any fee.  The exchange rate refers to that rate of exchange applied at the relevant time for the relevant currency pair that is offered by us, which is typically provided by a reference rate provider. We may change our reference rate provider from time to time without giving notice to you.

We are not a currency trading platform. Please note that we are not a currency trading platform, accordingly, you should not use our Services for this purpose. If we detect that you are using our Services for this purpose, we may suspend or close your Account and seek disgorgement of your gains.

1.4. Taxes

We may provide to you estimates, if known to us, of any taxes or charges that may be levied under the laws of the country in which the recipient resides (such taxes, the “Local Taxes” and such country, the “Recipient Country”) prior to your authorizing a transfer. All fees associated with a transfer are made free and clear of, and without any deduction or withholding for and on account of, any Local Taxes, duties or other deductions.  Any such deduction or withholding, if required by the laws of any country are your sole responsibility.  If we provide estimates of the Local Taxes, the exact amount of the Local Taxes and other fees are determined by the Recipient Country and beneficiary institution.

1.5. Transfer limits

Transfers are subject to limits on the amount and frequency. These limits are designed to be flexible in order to protect the security and integrity of the service, including protecting 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 may be modified at our sole discretion without advance notice.

1.6. What to do if you think there has been an error or problem:

If you think there has been an error or problem with your transfer:

• Call Servicer at 1-415-878-1068; or
• Write Servicer at 333 Bush St, Suite 1900, San Francisco, CA 94104; or
• Email Servicer at [email protected].

You must contact us via Servicer within 180 days of the date we promised to you that funds would be made available to the Recipient. When you do, please tell us:

• Your name and telephone number or address;
• The error or problem with the transfer, and why you believe it is an error or problem;
• The name of the person receiving the funds, and if you know it, his or her telephone number or address;
• The dollar amount of the transfer; and
• The confirmation code or number of the transaction.

We will determine whether an error occurred within 90 days after you contact us, and we will correct any error promptly. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of any documents we used in our investigation.

You agree that you will have sufficient available funds in the Account to cover all transfers, including any applicable transfer fees, on the date scheduled. If the Account does not have sufficient available funds on the scheduled date, we may elect not to initiate one or more of the transfers. We cannot guarantee the timely delivery or return of funds as a result of the failure of another financial institution to act in a timely manner. Please note that beneficiary banks located in some countries may take several days or even weeks to credit the receiving account. You agree that we may use any means or routes which we in our sole discretion consider suitable to execute your transfer.

You will verify recipient account information and transfer details are correct prior to submitting your transfer.  We are not responsible for discovering inaccuracies in such information.  You acknowledge that if account information and bank details are incorrect, money may be sent to the wrong account and may not be recovered, and you are solely responsible for such inaccuracies and transfers based on the information provided by you to us.  You are hereby notified that in the event that you provide an incorrect account number or institutional identifying number, and we are not able to recover the funds, you may lose the amount of the payment order.

Except as otherwise agreed in writing, we are liable only for damages required to be paid as provided under Regulation E, subpart B or, to the extent applicable, UCC 4A. Except as required by Regulation E, subpart B, we will not be responsible for the acts or omissions of any other person or entity, including but not limited to any processor, any country's central bank, or any other financial institution, and no such person or entity will be deemed the Bank's agent. In no event shall the Bank have any liability for any indirect, incidental, consequential, punitive, or special damages, even if advised of the possibility of such damages.

There may be provisions of this Agreement that are inconsistent with certain rights or responsibilities of you or us under the Regulation E’s remittance transfer rules. In the event of any such inconsistency, Regulation E will control and this Agreement will be deemed modified so as to be consistent with the remittance transfer rules, without affecting the validity of any other provisions of the Agreement.

2. Fees

The fees described below apply to remittance transfers sent from your Account. We reserve the right from time to time upon notice to you to add, delete or modify charges.

• Transfer Fee. Neither we nor Servicer charge a fee for sending an international wire in USD. However, other third-party institutions involved in processing your transfer (such as correspondent or recipient banks) may deduct their own fees from the transfer amount. Transfers subject to an Exchange Rate are also subject to an Exchange Fee equal to  1% of the value of the requested remittance transfer in USD. 
• Third-party fees and taxes. Recipient banks, intermediary and correspondent banks, and local payment networks may charge their own fees, and foreign taxes may apply. These amounts are not charged by us or Servicer and may be deducted from the funds delivered to your recipient.