This Unifimoney Cash Account Agreement and Disclosures (this “Agreement”) by and between and Unifimoney and you set forth the terms and conditions that will govern your use of an account (the “Program Account”) maintained for deposits and withdrawals in connection with use of various services offered or made available to you by Unifimoney via a web-based platform (the “Services”). Please read this Agreement carefully and retain it for future reference.
As used in this Agreement, "Bank" means First Fidelity Bank, an Oklahoma state bank, Member FDIC. "Custodial Account Documentation" means the terms, conditions, disclosures, and policies of the Bank that apply to the Custodial Account, as amended from time to time. "Program Account" means the Unifimoney cash account reflected on Unifimoney's books and records. "Custodial Account" means one or more custodial deposit accounts maintained with the Bank for the benefit of Program Account holders. Other capitalized terms are defined throughout this Agreement.
By applying for, opening, or maintaining a Program Account, you agree to be bound by this Agreement, which is available through the Mobile App, the Website, or by contacting customersuccess@unifi.money. This Agreement supplements the Terms of Service available at https://www.unifimoney.com/legal-information/terms-of-service, as amended from time to time (the "Terms"), which are incorporated by reference. The use of the Services and the Program Account is subject to the Terms. The Custodial Account is also subject to the Custodial Account Documentation. If there is any conflict among this Agreement, the Custodial Account Documentation, and the Terms, this Agreement governs with respect to the Program Account, the Custodial Account Documentation governs with respect to the Custodial Account, and the Terms govern with respect to the Services.
A Program Account is available only to U.S. citizens and legal resident aliens who are at least eighteen (18) years of age (or older where the age of majority is higher), have a valid Social Security Number or Taxpayer Identification Number, and satisfy the eligibility criteria established by Unifimoney, the Bank, and any service providers supporting the Services. Program Accounts may be used only for personal, family, and household purposes and not for business, commercial, organizational, agricultural, governmental, municipal, or public purposes. The Program Account may not be available in all jurisdictions.
Federal law requires financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open a Program Account, we may ask for your name, address, date of birth, Social Security Number or Taxpayer Identification Number, and other information that allows us to identify you. We may also ask to see your driver's license or other identifying documents.
From time to time, we may require additional information to comply with the Bank Secrecy Act, the USA PATRIOT Act, anti-money laundering laws, sanctions laws, and related rules, regulations, guidance, and internal controls. You agree to provide any additional information that we or the Bank reasonably request to establish or maintain the Program Account, respond to governmental or regulatory requests, or address fraud, risk, or compliance concerns.
You authorize us to obtain and verify information about you from consumer reporting agencies and other third parties for lawful purposes, including identity verification, fraud prevention, eligibility determinations, account servicing, and collections. You also authorize us, the Bank, and our respective service providers to disclose information about you as permitted by applicable law and our privacy notice, including to payment networks, processors, financial institutions, government agencies, service providers, professional advisors, debt collectors, and parties involved in the Services or related products.
By opening a Program Account, you also authorize the Social Security Administration to verify your Social Security Number by matching your name, date of birth, and Social Security Number against its records and to share the results with us and the Bank.
Because Unifimoney is not an FDIC-insured depository institution and does not itself hold deposit accounts for users of the Services, funds attributable to your Program Account are deposited in one or more custodial deposit accounts maintained with the Bank (each, a "Custodial Account"). Although you may be eligible for pass-through FDIC deposit insurance on funds attributable to your Program Account that are held at the Bank, subject to applicable law, FDIC regulations, recordkeeping requirements, and insurance limits, you are not opening a direct deposit account at the Bank, you are not a customer of the Bank solely by virtue of the Program Account, and the Bank does not owe you duties except as provided by applicable law and the Custodial Account Documentation.
The Custodial Account Documentation governs how deposits, withdrawals, reversals, legal process, funds availability, statement errors, electronic fund transfers, and other banking matters are handled at the Bank. Except as expressly stated in this Agreement, transactions reflected on the Program Account will be processed in accordance with the Custodial Account Documentation and Unifimoney's policies and procedures. Unifimoney may provide transaction and account information relating to your Program Account to the Bank for compliance, operational, audit, reconciliation, and regulatory purposes.
Unifimoney is not obligated to structure the Program Account or any Custodial Account in any particular manner, including to maximize FDIC insurance coverage or to establish any special ownership category beyond what is reflected in the applicable records and legal arrangements.
You appoint the Bank as your limited agent and custodian, with full power and authority, for you and on your behalf, to receive, hold, process, and settle deposits, withdrawals, adjustments, reversals, and other transactions attributable to your Program Account within the Custodial Account, and to execute or deliver documentation reasonably necessary in connection with those activities. This appointment is coupled with an interest, survives your death or incapacity to the extent permitted by law, and remains in effect until this Agreement terminates. You agree to execute additional documents reasonably requested to effectuate this appointment.
If your application is approved, we will establish the Program Account on our books and records. The Program Account will reflect the beneficial interest in balances held in the Custodial Account that are attributable to you, based on records maintained in good faith and in the regular course of business. FDIC insurance, if available, is determined by the FDIC based on applicable law, the Bank's deposit account records, and records maintained by Unifimoney and other relevant parties, and is subject to applicable FDIC rules and insurance limits.
No interest is paid on the Program Account. Any prior references to Annual Percentage Yield, interest accrual, or interest payment do not apply to the current Program Account offering.
It is the intent of the parties that the Program Account functions as an electronic accounting and settlement feature in connection with the Services and that funds movement occurs through the Bank based on your instructions delivered through Unifimoney. You acknowledge that your use of the Program Account and Unifimoney's transmission of your instructions do not establish Unifimoney as a money transmitter, seller of checks, or other money services business on your behalf, except to the extent applicable law requires otherwise.
Funds attributable to your Program Account are held at the Bank in the Custodial Account and are not the property of Unifimoney. Subject to any rights of setoff, security interest, or other rights described in this Agreement or permitted by law, you remain the beneficial owner of funds attributable to your Program Account.
The Program Account may be titled only in the name of one individual. Joint accounts, payable-on-death designations, transfer-on-death designations, Uniform Transfers to Minors Act accounts, trust accounts, business accounts, and tax-advantaged accounts are not supported unless expressly offered by Unifimoney in writing.
To secure your obligations to us under this Agreement and the Terms, you grant us a security interest in your Program Account and all funds attributable to it, together with proceeds and products thereof, to the extent permitted by applicable law. You agree to execute additional documents reasonably requested to perfect or enforce that security interest.
If you owe us money and it becomes due and payable, we may use funds attributable to your Program Account to satisfy that obligation to the extent permitted by law. We may also exercise any right of setoff permitted under applicable law or agreement. We will provide any notice required by applicable law.
You consent to receive communications, disclosures, notices, statements, and records relating to the Program Account in electronic form. Because the Services are offered electronically, if you revoke your consent to electronic records we may close your Program Account. You are responsible for maintaining a valid email address and the ability to access the Mobile App or Website.
Through the Services, Unifimoney may make certain information about the Program Account available to you. Balance and transaction information shown in the Mobile App or Website may be delayed, provisional, or subject to correction. Your monthly Program Account statement is the official record of transactions attributable to your Program Account, subject to your rights under the Electronic Fund Transfers disclosure and applicable law.
Transactions to and from the Program Account may be conducted only through methods made available by Unifimoney and the Bank. At this time, permitted transactions generally include: (1) transfers to or from a linked account at another financial institution via ACH; (2) internal electronic fund transfers if supported by the Bank; and (3) ACH credits or ACH debits initiated by merchants or other authorized third parties. Each linked account must be registered and approved under applicable verification procedures.
Transfers of funds will generally be processed through the ACH network. You agree to comply with the Operating Rules of the National Automated Clearing House Association ("NACHA"), as amended from time to time, to the extent applicable to you. The Bank acts as the originating depository financial institution for ACH transfers, and Unifimoney acts as the electronic interface through which transfer instructions may be originated or received in connection with the Program Account.
By linking an external account or otherwise initiating or authorizing a transfer, you authorize us and the Bank to initiate ACH debit and credit entries to effect the transaction and to make corresponding entries to the Program Account. You also authorize us to reverse debits or credits that are returned, rejected, duplicated, made in error, or otherwise require correction, and to re-present debits that are returned for non-sufficient funds where permitted by law and network rules.
You are solely responsible for the accuracy of your transfer instructions, including account numbers, routing numbers, and dollar amounts. We are not responsible for confirming this information or detecting errors, duplicate instructions, or inconsistencies between account identifiers and account names. Financial institutions may process transfers based solely on account and routing numbers, even if the account name is inconsistent.
When you initiate a transfer, we may display the amount available to transfer and estimated processing times. Processing times are estimates only and are subject to cut-off times, system availability, Bank processing schedules, ACH timing, and other factors beyond our control. Transfers involving external accounts are also subject to the receiving institution's processing and funds availability rules.
You may cancel or modify a transfer only before processing has begun. Once processing begins, the transfer cannot be canceled or modified. We may attempt, but do not guarantee, to recover, stop, or return an erroneous, refused, prohibited, duplicated, or unclaimed transfer.
Subject to applicable law, we may refuse any transfer or return any item for any reason, including insufficient available funds, suspected fraud, error, illegality, compliance concerns, risk controls, legal process, or a violation of this Agreement, the Terms, the Custodial Account Documentation, or provider requirements. We will provide any notice required by applicable law.
You may authorize merchants and other third parties to initiate ACH debits or credits to your Program Account. You are responsible for ensuring that any merchant or third party is authorized by you and uses a payment method supported for the Program Account. Transactions presented as checks or paper items will not be honored.
The Program Account does not accept deposits of cash, foreign currency, paper checks, cashier's checks, money orders, wire transfers, or other physical instruments unless expressly permitted in writing by Unifimoney. The Program Account does not include check-writing privileges. Transactions involving checks, remotely created checks, image replacement documents, or similar items will not be honored. The Program Account may not be used for unlawful Internet gambling or other restricted transactions prohibited by law, including Regulation GG.
The Program Account does not include an overdraft service. We generally do not authorize or pay transactions that would overdraw the Program Account. However, a negative balance may occur due to returned items, ACH reversals, chargebacks, fee assessments, posting adjustments, or similar circumstances.
We use an actual ledger balance method to determine whether there are sufficient funds attributable to your Program Account. This method is based on settled transactions and does not include pending transactions that have not yet posted.
If the balance attributable to your Program Account is insufficient to cover a transaction, we may return or reject the transaction. If a debit or transfer is returned or rejected due to insufficient funds, we may charge an insufficient funds (NSF) fee as disclosed in the fee schedule. A transaction may be presented more than once, and an NSF fee may be assessed each time a debit is returned or rejected, to the extent permitted by law and network rules.
Any negative balance is immediately due and payable, and we may use subsequent deposits to offset the negative balance and any applicable fees to the extent permitted by law.
Electronic statements are available through the Mobile App or Website. Program Account statements will generally be made available monthly. You should review your statements and transaction history promptly and notify us of any unauthorized transactions, errors, or discrepancies as described in the Electronic Fund Transfers disclosure. Except as otherwise provided by applicable law, statements are deemed final if you do not notify us of errors within sixty (60) days after the statement is made available.
Your representative should notify us promptly if you die or become legally incapacitated. Until we receive notice and have a reasonable opportunity to act on it, we may continue to accept deposits and process transactions in accordance with this Agreement and applicable law.
We may, but are not required to, accept a power of attorney relating to the Program Account. We may require documentation, certifications, or legal opinions reasonably acceptable to us before acting on a power of attorney, and we may decline to accept a power of attorney for reasonable cause.
If the Program Account is subject to garnishment, attachment, restraining order, injunction, levy, citation, adverse claim, or other legal process, we may refuse withdrawals or transfers, freeze funds, or otherwise act to comply with applicable law and legal process without liability to you. You agree to reimburse us for costs, including attorney's fees, incurred in responding to legal process to the extent permitted by law.
If we are required to return all or part of a government benefit payment that was directly deposited to your Program Account, you authorize us to deduct the amount from the Program Account or other accounts you have with us, to the extent permitted by law.
A Program Account that remains inactive for the period specified by applicable law may be considered dormant and subject to escheatment to the state of your last known address. We may assess any dormancy fee disclosed in the fee schedule to the extent permitted by applicable law.
Either you or we may close the Program Account at any time, subject to applicable law, pending transactions, legal process, or negative balances. If the Program Account is closed, we may attempt to return the remaining balance to a linked external account via ACH. If no linked external account is available, we may send a check to your address of record, subject to identity verification and any applicable waiting period.
You agree not to use the Program Account or the Services in violation of applicable law. If we reasonably believe a transaction or account activity may be unlawful, fraudulent, or otherwise impermissible, we may refuse the transaction, freeze funds, or suspend or close the Program Account.
This Agreement and the Program Account are governed by applicable federal law and, to the extent state law applies and is not preempted, the laws of the State of Arizona, without regard to conflicts of law principles.
We may amend this Agreement from time to time in accordance with applicable law. If required by law, we will provide advance notice of changes. Continued use of the Program Account after a change becomes effective constitutes acceptance of the revised Agreement.
The following disclosures apply to electronic fund transfers involving your Program Account.
Electronic fund transfers initiated by you or authorized third parties may include direct deposits, ACH debits, ACH credits, and digital transfers initiated through the Mobile App or Website. The Program Account is subject to the transaction limits shown below and any additional limits communicated through the Mobile App, Website, or applicable disclosures.
Statements. You will have access to an electronic monthly statement through the Mobile App or Website.
Direct deposits or automated credits. If you arrange to have direct deposits made to your Program Account at least once every sixty (60) days from the same person or company, you may access the Mobile App or Website or contact customersuccess@unifi.money to determine whether the deposit has been made.
Digital transfers. You may be able to obtain a receipt or confirmation at the time you make a transfer to or from the Program Account.
If you have told us in advance to make regular payments out of your Program Account, you can stop any of these payments by contacting us through the Mobile App, Website, or at customersuccess@unifi.money so that we receive your request at least three (3) Business Days before the payment is scheduled to be made. To stop a recurring ACH transfer authorized directly with a third party, you should also contact that third party.
If preauthorized payments vary in amount, the person you are going to pay will tell you, ten (10) days before each payment, when it will be made and how much it will be, unless you have agreed to a different notice method.
If you properly order us to stop one of these payments at least three (3) Business Days before the transfer is scheduled and we do not do so, we will be liable for your losses or damages as provided by law.
If we do not complete an electronic fund transfer to or from your Program Account on time or in the correct amount according to this Agreement, we will be liable for your losses or damages as provided by law. However, there are exceptions. We will not be liable, for example, if you do not have enough funds in the Program Account to complete the transaction, if you did not properly follow our instructions, if the recipient rejects the transaction, if access to the Program Account has been blocked after you reported credentials as lost or stolen, if legal process, a hold, or another encumbrance restricts use of funds, if we reasonably believe the transaction is unauthorized or unlawful, or if circumstances beyond our control prevent us from completing the transaction despite reasonable precautions.
We may disclose information to third parties about your Program Account or transfers you make where necessary to complete transfers, verify the existence and condition of the Program Account, or as otherwise permitted by law or authorized by you.
Tell us at once if you believe your access credentials have been lost or stolen, or if you believe an electronic fund transfer has been made without your permission. You could lose all of the money in your Program Account. If you tell us within two (2) Business Days after you learn of the loss or theft of your access credentials, you can lose no more than $50 if someone used your access credentials without your permission. If you do not tell us within two (2) Business Days, and we can prove we could have prevented the loss had you told us, you could lose as much as $500.
Also, if your statement shows transfers you did not make, tell us at once. If you do not tell us within sixty (60) days after the statement is made available, you may not get back money lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money had you told us in time. If a good reason, such as a long trip or hospital stay, kept you from telling us, we will extend the time periods.
If you believe your access credentials have been lost or stolen, or if you believe a transfer has been made without your permission, email us at customersuccess@unifi.money.
In case of errors or questions about your electronic transfers, email us at customersuccess@unifi.money as soon as you can if you think your statement is wrong or you need more information about a transfer listed on the statement. We must hear from you no later than sixty (60) days after the first statement on which the problem or error appeared. You must tell us: (1) your name and account number; (2) why you believe there is an error or why you need more information; and (3) the dollar amount of the suspected error.
We will determine whether an error occurred within ten (10) Business Days after we hear from you and will correct any error promptly. If we need more time, we may take up to forty-five (45) days to investigate. If we do so, we will provisionally credit the Program Account within ten (10) Business Days for the amount you think is in error so that you have use of the money during the investigation, subject to the conditions permitted by law. For new accounts, point-of-sale transactions, or foreign-initiated transactions, we may take up to ninety (90) days to investigate and up to twenty (20) Business Days to provide provisional credit for new accounts. We will tell you the results within three (3) Business Days after completing our investigation and will send you a written explanation if we determine no error occurred.
The Program Account is a non-interest-bearing cash account. No interest or APY is paid on balances attributable to the Program Account.
There is no minimum balance required to open the Program Account unless otherwise disclosed in connection with a specific feature or service. Funds availability and transaction timing are subject to the terms of this Agreement, the Electronic Fund Transfers disclosure, and the Custodial Account Documentation.
The Program Account fee schedule is shown below. All fees will be debited from the Program Account unless prohibited by law. If the remaining balance is less than the fee amount, the charge may result in a negative balance or partial collection, to the extent permitted by law.
* Transfer limits may be changed from time to time for fraud prevention, risk management, operational, or legal reasons. Current limits will be made available through the Mobile App, Website, or applicable disclosures.
