Cross River Bank Savings Deposit Account Agreement

Charges & Financial Obligations · Procedure

Card purchases provisionally debit savings, then become permanent after 24 hours or merchant finalization

A Provisional Debit is a debit of a card transaction amount from the savings account before it is cancelled because the purchase was converted to a loan in the App, or before it becomes a Permanent Debit. A Permanent Debit becomes permanent after the later of (i) 24 hours or (ii) the merchant finalizes the purchase amount and submits a permanent debit to the savings account.

Supporting quotations

Permanent Debit - A debit from your Savings Account that becomes permanent after the latter of (i) 24 hours or (ii) the merchant finalizes the purchase amount and submits a permanent debit to your Savings Account.

Provisional Debit - A debit from your Savings Account for the amount of a Debit Card transaction before the debit gets cancelled because you converted a Debit Card purchase to a loan in the App or before the debit becomes a Permanent Debit.

Qualifications & exceptions

• Section D.2 later states the conversion occurs after the later of 48 hours or merchant finalization; this definition states 24 hours. The discrepancy is unresolved in the text.
• Converting a card purchase to a loan in the App cancels the provisional debit.

Not stated here

• Which timing (24 or 48 hours) controls is not resolved by this source.

Cross-references

• contrast (model-proposed): Card purchases provisionally debit savings and become permanent after 48 hours or merchant finalization — The definitions section states that a provisional debit becomes permanent after the later of 24 hours or merchant finalization. Section D.2 states the later of 48 hours or merchant finalization for the same conversion. The source states both periods without reconciling them.

Charges & Financial Obligations · Company commitment

Savings Account funds are FDIC-insured up to the applicable limit

Funds in the savings account are insured by the Federal Deposit Insurance Corporation up to the applicable limit. The amount of coverage may depend on the balance in the savings account and on the ownership, type and balances of any other accounts the depositor has with the Bank.

Supporting quotations

A.7. FDIC Insurance. Funds in your Savings Account are insured by the Federal Deposit Insurance Corporation (FDIC), up to the applicable limit. The amount of insurance coverage you have may depend on the balance in your Savings Account and the ownership, type of, and balances held in any other accounts you have with us.

Qualifications & exceptions

• Coverage depends on the account balance, ownership, account type and balances in other accounts with the Bank.

Not stated here

• The applicable insurance limit is not stated in this source.

Charges & Financial Obligations · Procedure

A correct taxpayer identification number is required to avoid backup withholding on interest

Federal law requires the Bank to obtain the correct taxpayer identification number to avoid potential backup withholding and to report interest income. If the depositor is subject to backup withholding, or the IRS notifies the Bank that the TIN is incorrect, the Bank may be required to withhold a percentage of interest paid and remit it to the IRS. Withheld amounts are reported to the IRS as federal tax withheld and reflected on Form 1099-INT.

Supporting quotations

B.3. TIN/Backup Withholding. We are required by federal law to obtain your correct taxpayer identification number (TIN) in order to avoid potential backup withholding and to report interest income paid to you in connection with your Savings Account. If you are subject to backup withholding or if the Internal Revenue Service (IRS) notifies us that we do not have a correct TIN for you, we may be required to withhold and remit to the IRS a percentage of interest paid (backup withholding) to your Savings Account(s).

Qualifications & exceptions

• Withholding is a percentage of interest paid, not of the account balance.
• The TIN may be an SSN if the account is in the person's name and the person is a U.S. citizen, permanent resident or otherwise eligible for an SSN.

Charges & Financial Obligations · Restriction or exception

Deposited Items are credited subject to final settlement and may be charged back

All Items are credited subject to final settlement in cash or credits. The Bank may forward Items to correspondents, including Federal Reserve Banks; except as required by law it is not liable for a correspondent's default or neglect, and a correspondent is liable only for its own negligence. The depositor authorizes handling under Regulation J and applicable clearinghouse rules. If funds are withdrawn before settlement and settlement does not occur, the Bank may charge the account or obtain a refund. The Bank may charge back any deposited Item at any time before final settlement for any reason and is not liable for resulting damages, except for its lack of good faith or failure to exercise ordinary care.

Supporting quotations

All Items are credited subject to final settlement in cash or credits. We shall have the right to forward Items to correspondents including all Federal Reserve Banks, and, except as required by law, we shall not be liable for default or neglect of said correspondents for loss in transit, nor shall any correspondent be liable except for its own negligence. You specifically authorize us or our correspondents including the Federal Reserve Banks to handle such Items in accordance with provisions of Regulation J (12 CFR Part 210), as revised or amended from time to time by the Federal Reserve Board. In the event we are subject to local clearinghouse rules, you specifically authorize us to handle such Items in accordance with the rules and regulations of the clearinghouse.

If we permit you to withdraw funds from your Savings Account before final settlement has been made for any deposited Item, and final settlement is not made, we have the right to charge your Savings Account or obtain a refund from you. In addition, we may charge back any deposited Item at any time before final settlement for whatever reason. We shall not be liable for any damages resulting from the exercise of these rights. Except as may be attributable to our lack of good faith or failure to exercise ordinary care, we will not be liable for dishonor resulting from any reversal of credit, return of deposited Items or for any damages resulting from any of those actions.

Qualifications & exceptions

• Chargeback is permitted at any time before final settlement and for any reason.
• The no-liability rule is qualified by the Bank's good faith and ordinary care.

Charges & Financial Obligations · Restriction or exception

Bank may return, repay or charge back deposits that are unpaid, unauthorized or fraudulent

Under C.6, if a sending bank returns a deposit unpaid, demands repayment because the deposit was unauthorized, or the sending bank or originator demands return because the Item was unauthorized, sent to the wrong account number or procured by fraud, the Bank may accept the return, pay the return or demand, and subtract the funds from the account balance. The following paragraph repeats that if funds are withdrawn before final settlement and settlement fails, the Bank may charge the account or obtain a refund, may charge back any deposited Item at any time before final settlement for any reason, and is not liable for damages from those rights; it is not liable for dishonor from a reversal, return or related action except for lack of good faith or failure to exercise ordinary care.

Supporting quotations

C.6. Our Right to Charge Back Deposited Items. If you make a deposit and (a) the sending bank returns it to us unpaid; (b) the sending bank demands that we repay them because the deposit was unauthorized; or (c) the sending bank or the originator of a transfer demands that we return the Item because it was unauthorized, sent to the wrong account number or procured by fraud, we may accept the return and/or pay the return or demand, and subtract the funds from your balance.

If we permit you to withdraw funds from your Savings Account before final settlement has been made for any deposited Item and final settlement is not made, we have the right to charge your Savings Account or obtain a refund from you. In addition, we may charge back any deposited Item at any time before final settlement for whatever reason. We shall not be liable for any damages resulting from the exercise of these rights. Nor shall we be liable for dishonor resulting from any reversal of credit, return of deposited Items or for any damages resulting from any of those actions.

Qualifications & exceptions

• The chargeback right covers unpaid, unauthorized, wrong-account-number and fraud-procured items.
• The no-liability rule is qualified by good faith and ordinary care.

Charges & Financial Obligations · Procedure

Direct Deposit is available to eligible depositors and requires payer information

If eligible, a depositor may arrange for all or part of a paycheck or federal or state government benefit or payment, such as a tax refund or Social Security payment, to be transferred directly into the account by an employer or government payer. Amounts over $10,000 may require additional verification. The Bank determines eligibility in its sole discretion and maintains criteria the payer must meet. Enrollment requires giving the employer the Affirm savings account and routing numbers; a form can be generated in the App's Savings Tab. The Bank charges no fees to set up or maintain Direct Deposit.

Supporting quotations

C.7. Direct Deposit. If you are eligible for Direct Deposit, you may arrange to have all or part of your paycheck or any federal or state government benefit or payment (e.g., Federal tax refunds or Social Security payments) transferred directly into your personal account by your employer or government payer. Amounts over $10,000 may require additional verification.

We determine eligibility for Direct Deposit in our sole discretion. Bank maintains specific criteria the payer must meet for your deposit to qualify for direct deposit. To enroll, you will need to provide your employer with your Affirm Savings Account account and routing numbers. You can generate a form for your employer that includes these details in the Savings Tab of the Affirm App. We do not charge any fees to set up or maintain Direct Deposit.

Qualifications & exceptions

• Eligibility is in the Bank's sole discretion and depends on payer criteria.
• Deposits over $10,000 may require additional verification.
• No Bank fee is charged to set up or maintain Direct Deposit.

Not stated here

• The payer criteria are not stated in this section.

Charges & Financial Obligations · Company practice

Early Direct Deposit access is optional, not guaranteed, and can be ended without notice

The Bank may offer early access to Direct Deposit funds to eligible customers, who may receive funds by approximately 6:00 a.m. PST, up to two days before the scheduled payday. A weekend or bank-holiday deposit date typically moves to the next business day. Early availability depends on when the payer funds the payment and is not guaranteed. If early posting does not occur, funds are made available under the funds availability schedule. Even after funds are available and withdrawn, the depositor remains responsible if a deposit is returned, rejected or otherwise uncollected. The Bank may end early availability at its sole discretion without further notice.

Supporting quotations

We may offer early access to Direct Deposit funds to eligible customers. This means, eligible customers may receive their funds by approximately 6:00 a.m. PST, a maximum of two days before their scheduled payday. If the date of your direct deposit falls on a weekend or bank holiday, it will typically arrive on the next business day. Direct Deposit and the earlier availability of funds are subject to the timing of the payer’s funding and is not guaranteed. We generally make these funds available on the day the payment file is received, which can be a maximum of 2 days earlier than the scheduled payment date. If you do not see your deposit early, contact your employer or sender to better understand their payroll policies.

Any direct deposit that is not posted early will otherwise be made available according to our funds availability schedule. Even after we have made funds available to you and you have withdrawn the funds, you remain responsible if any deposit to your account is returned, rejected, or otherwise uncollected by the Bank. We reserve the right to conclude the early availability of direct deposit at our sole discretion and without any further notice to you.

Qualifications & exceptions

• Early access is not guaranteed and depends on the payer's timing.
• The Bank may end early availability at its sole discretion and without further notice.
• The depositor remains responsible for returned or uncollected deposits even after withdrawal.

Charges & Financial Obligations · Procedure

Card purchases provisionally debit savings and become permanent after 48 hours or merchant finalization

When a card purchase is made without requesting a loan first, the Bank provisionally debits the savings account for the purchase amount. Unless the purchase is converted to a loan in the App, the provisional debit becomes a permanent debit after the later of 48 hours or the merchant finalizes the purchase and submits a permanent debit. Provisionally debited amounts are not part of the Available Balance and are unavailable for withdrawal or use. Holds for fraud or other reasons may also be placed when directed by the bank that issues the Debit Card.

Supporting quotations

D.2. Authorizations and Provisional Debits for Card purchases When Your Debit Card Account is Linked to Your Savings Account. When you make a purchase with your Debit Card, and you have not requested a loan in the App prior to purchase, we will provisionally debit the funds in your Savings Account equal to the purchase amount. Unless you convert your debit purchase into a loan in the App, we will convert the provisional debit to a permanent debit after the later of either (i) 48 hours or (ii) the merchant finalizes the purchase and submits a permanent debit to your Savings Account. Amounts that are provisionally debited will not be part of your Savings Account’s Available Balance and are unavailable for withdrawal or use. Additionally, holds for fraud concerns or other reasons may be placed on your Savings Account when directed by the bank that issues the Debit Card.

Qualifications & exceptions

• This section states 48 hours; the definitions section states 24 hours for the same conversion. The discrepancy is unresolved in the text.
• Provisionally debited amounts are excluded from the Available Balance.
• Additional holds may be imposed at the direction of the card-issuing bank.

Not stated here

• Which timing (24 or 48 hours) controls is not resolved by this source.
• The card-issuing bank and its hold practices are not identified in this source.

Cross-references

• contrast (model-proposed): Card purchases provisionally debit savings, then become permanent after 24 hours or merchant finalization — The definitions section states that a provisional debit becomes permanent after the later of 24 hours or merchant finalization. Section D.2 states the later of 48 hours or merchant finalization for the same conversion. The source states both periods without reconciling them.

Charges & Financial Obligations · Restriction or exception

Bank may pay an overdraft at its discretion; the depositor must restore the balance and may face reporting or closure

The Bank's general practice is to decline a transaction that would create a negative Available Balance, but it may in its sole discretion pay an Item even when the Available Balance is insufficient. It is not required to continue doing so. The Bank looks at the Available Balance only once to decide. If it pays a transaction that creates a negative balance, the depositor must immediately deposit enough to restore the balance to at least $0.00. The Bank may report the depositor to consumer reporting agencies and close the account, which could affect the ability to open accounts with the Bank or other banks. The depositor authorizes the Bank to use subsequent deposits, including federal or state benefit payments such as Social Security direct deposits, to cover the negative balance, and may change Direct Deposit instructions to avoid that. The Bank may still pursue collection, including suing, after charge-off.

Supporting quotations

E.8. Insufficient Funds. Our general practice is to decline to pay any transaction that would cause a negative balance on your Savings Account (i.e., your Available Balance is less than the amount of that Item plus all other Items received but not yet paid). However, we may, in our sole discretion, pay the Item even if your Available Balance is insufficient to cover the transaction, resulting in a negative Available Balance. Even if we've paid such items before, we are not required to do it in the future. We look at your Available Balance only once to decide if the Item would cause your Savings Account to have a negative balance. If we pay a transaction that causes your Savings Account to have a negative balance, you must immediately deposit the amount necessary to restore your balance to at least $0.00. We also may report you to consumer reporting agencies, close your Savings Account, or both. This could affect your ability to open accounts with us or other banks in the future. You authorize us to use the money from any subsequent deposits to your Savings Account to pay any negative balance on your Savings Account and restore the balance to at least $0.00. Subsequent deposits include any federal or state benefit payments that you choose to deposit in your Savings Account (including Direct Deposit of Social Security benefits). You understand and agree that if you do not want your benefits applied in this way, you may change your Direct Deposit instructions at any time. We may still pursue collection of the amount you owe (including suing you) after it is charged off.

Qualifications & exceptions

• Declining overdrafts is described as general practice, not a guarantee.
• The Bank may pay an overdraft in its sole discretion and is not required to repeat that treatment.
• The Available Balance is checked only once.
• Subsequent deposits, including federal and state benefits, may be applied to the negative balance unless Direct Deposit instructions are changed.
• Collection, including litigation, may continue after charge-off.

Not stated here

• The section does not state an overdraft fee; the Truth in Savings Disclosure separately states that no fees are charged for an overdraft caused by Debit Card activity.

Charges & Financial Obligations · Procedure

Available Balance subtracts pending charges, unavailable deposits, holds and loan payments

F.1 calculates the Available Balance from the previous day's balance, adding pending credit entries other than pending returns, such as ACH direct deposits, and subtracting pending charges such as electronic payments and permanent debits from card purchases; deposits not yet available for withdrawal; provisional debits and holds, including merchant authorization holds and holds for court orders or other legal requirements; and pending debit entries for Affirm loan repayments. The Bank reserves the right to use a different calculation method in certain states if required by law.

Supporting quotations

F.1. Available Balance. Your Available Balance is calculated by taking your previous day's balance, plus any pending credit entries transactions (excluding pending returns), such as ACH direct deposits, and subtracting (a) pending charges such as electronic payments and permanent debits related to Debit Card purchases (b) any amount of deposits that are not yet available for withdrawal, and (c) any provisional debits and/or holds on your Savings Account, such as merchant authorization holds for your Debit Card purchases or holds on funds to comply with court orders or other legal requirements (d) any pending debit entries for Affirm Loan repayments. We reserve the right to use a different calculation method in certain states if required by law.

Qualifications & exceptions

• Pending returns are excluded from pending credits.
• Holds include court-order and legal-requirement holds, not only merchant authorizations.
• State law may require a different calculation.

Not stated here

• Which states use a different calculation is not stated.

Charges & Financial Obligations · Procedure

App-initiated ACH transfers are generally available by the third business day, or sixth if held

Funds from ACH transfers the depositor initiates through the App, and from Debit Card Account refunds, are generally available on or before the third business day after the funds settlement date. A transfer may be held if deposits total more than $5,000 on any one day, the Bank reasonably believes a deposit will be returned unpaid, fraud or unlawful activity is suspected, or an emergency such as computer or communications failure occurs. If delayed for those reasons, funds are generally available no later than the sixth Business Day after the deposit day. The Bank may also delay availability as reasonably necessary to comply with law and protect account and system security. ACH Credit Entries are generally available on the day the Bank receives the funds.

Supporting quotations

F.2. Transaction Availability for ACH Transfers or Debit Card Account Use. Funds received by us from ACH Transfers that you initiate through the App and from Debit Card Account refunds will generally be available on or before the third (3rd) business day after the funds settlement date. The funds settlement date is the date that funds are deemed to be received by the Bank. Transfers may be held if: you make deposits totaling more than $5,000 on any one day; we reasonably believe a deposit will be returned unpaid; we suspect there may be fraud or unlawful activity on your Savings Account; or there is an emergency, such as a failure of computer or communications equipment. If we delay your availability to withdraw funds for any of the above reasons, funds will generally be available no later than the sixth (6th) Business Day after the day of your deposit. However, we may delay the availability of your funds as reasonably necessary to comply with law and protect the security of your Savings Account and our systems. Funds from ACH Credit Entries to your Savings Account will generally be available on the day we receive the funds.

Qualifications & exceptions

• The third-day and sixth-day timings are stated as general rules, not guarantees.
• A hold is triggered by deposits over $5,000 in one day, suspected return, suspected fraud or unlawful activity, or an emergency.
• Law and security may justify further delay.
• ACH Credit Entries are treated differently and are generally available the day funds are received.

Charges & Financial Obligations · Procedure

Wire transfer deposits are generally available the first Business Day after receipt

Funds from Wire Transfer deposits are generally available on the first Business Day after the day the Bank receives the deposit.

Supporting quotations

F.3. Transaction Availability for Wire Transfers. Funds from Wire Transfer deposits will generally be available on the first Business Day after the day we receive the deposit.

Qualifications & exceptions

• The rule is stated as a general availability rule.

Charges & Financial Obligations · Restriction or exception

Single transactions are limited to $25,000 and daily transactions to $100,000

The limit for a single deposit or withdrawal initiated through the savings account is $25,000, and the limit for all such transactions within a day is $100,000. For larger amounts, the Bank recommends using an external bank to initiate the transaction with the savings account's routing and account numbers. The savings account is also subject to limits in the Truth in Savings Disclosure. The Bank may refuse or delay a transaction request that violates these requirements, and may close the account if the limit is exceeded after the depositor has been notified of a violation. Limits in the Debit Card agreement may be more restrictive.

Supporting quotations

F.4. Transaction Limits. The limit for a single deposit or withdrawal initiated through the Savings Account is $25,000. The limit for all such transactions made within a day is $100,000. If you wish to deposit or withdraw greater amounts, we recommend using an external bank to initiate the transaction utilizing your Savings Account's routing and account numbers. Your Savings Account is a savings account subject to any limits described in the Truth in Savings Disclosures section. We may either refuse or delay any transaction request that violates these requirements. If you exceed this limit after we've notified you of a violation, we may close your Savings Account. If you have linked your Savings Account to your Debit Card Account, please see your Affirm Debit Visa Cardholder and Account Agreement for limits that apply to your Debit Card Account, which may be more restrictive than the limits stated here.

Qualifications & exceptions

• The limits apply to transactions initiated through the Savings Account.
• The Bank may close the account after a limit violation and notice.
• Debit Card limits may be more restrictive.

Not stated here

• The Truth in Savings limits referenced are not separately quantified in that section of this source.

Charges & Financial Obligations · Company practice

Promotions and optional Affirm subscriptions may carry separate terms and fees

The Bank may offer promotions from time to time, and their terms may change with or without notice in accordance with applicable law. Affirm may also offer optional subscription programs subject to their own fees, under separate terms and conditions.

Supporting quotations

I.1. Promotions. We may offer promotions from time to time. The terms of these promotions may change with or without notice to you in accordance with applicable law. From time to time, Affirm may also offer optional subscription programs subject to their own fees. For details see applicable terms and conditions.

Qualifications & exceptions

• Promotion terms may change without notice where the law permits.
• Subscription programs are optional and carry their own fees and terms.

Not stated here

• The specific promotions, subscription prices and terms are not stated in this source.

Charges & Financial Obligations · Company practice

APY boosts are optional, action-based and governed by separate terms

If the depositor is eligible, Affirm may offer APY boosts for specific actions taken within a calendar month. A boost is a specified increase in the APY for the Affirm savings account. Eligibility is shown in the App, and the relevant boost terms and conditions govern details.

Supporting quotations

I.2. APY Boosts. If you are eligible, Affirm may offer you APY boosts (“Boost”), for specific actions taken by you within a calendar month. An APY boost is a specified increase in your APY for your Affirm Savings Account. To see if you are eligible for a Boost, please see the App. For details, see the relevant terms and conditions for the Boost you participate in.

Qualifications & exceptions

• Eligibility is required.
• The boost applies to specific actions within a calendar month.
• Separate boost terms govern.

Not stated here

• The boost amounts and qualifying actions are not stated in this source.

Charges & Financial Obligations · Restriction or exception

Bank has a right of setoff and security interest in all accounts, including deposited benefits

If the depositor owes a debt to the Bank or any affiliate, now or in the future, the depositor grants a right of setoff and a security interest in all accounts with the Bank. Debts include overdrafts and fees, and amounts owed by another person if the depositor guaranteed them. If a debt is due or overdue, the Bank may use funds in any account to pay all or part of it. The security interest is governed by Uniform Commercial Code Article 9 as adopted by state law, whether or not Article 9 applies by its terms. No prior notice is required. The rights extend to electronically deposited federal or state benefit payments, including Social Security, as permitted by law; Direct Deposit instructions can be changed to avoid that treatment. Setoff does not apply to a debt created under a personal credit card plan. If federal benefits are deposited after the depositor becomes ineligible, the Bank may set off to recover them if obligated to return funds to the payor.

Supporting quotations

J.7. Setoff and Security Interest. If you owe a debt to us or any of our affiliates (either now or in the future), you grant us a right of setoff to, and a security interest in, all of your accounts with us to secure the debt. Debts include any overdrafts or fees you owe, as well as amounts owed us by another person or entity if you have guaranteed that you will pay their debts. If the debt is due or overdue, we may use the funds in any of your accounts to pay all or part of the debt. Our security interest will be governed by Uniform Commercial Code Article 9 (as adopted by the applicable state law) whether Article 9 applies by its terms or not. We do not have to give you any prior notice to apply the funds. You expressly agree that our rights extend to any electronically deposited federal or state benefit payments (including Social Security benefits), as permitted by law. If you don't want your benefits applied in this way, you may change your Direct Deposit instructions at any time with the person or organization paying the benefits. The right of setoff does not apply if the debt is created under a personal credit card plan. If any federal benefits or other payments are deposited to your Savings Account after you become ineligible to receive them, we may set off against any of your accounts to recover the payments if we're obligated to return funds to the payor.

Qualifications & exceptions

• The right covers all accounts with the Bank, not only the savings account.
• It extends to federal and state benefit payments, including Social Security, as permitted by law.
• No prior notice is required.
• A debt under a personal credit card plan is excluded from setoff.

Charges & Financial Obligations · Context

Pre-judgment interest follows the account's rate unless state law requires otherwise

If either party is awarded a judgment against the other in connection with the savings account, the rate of interest earned before judgment on the judgment amount is the rate the account earned during that period, unless applicable state law requires a different rate.

Details not recorded for this card

Supporting quotations

J.17. Pre-Judgment Interest Rate. If either of us is awarded a judgment against the other in connection with your Savings Account, the rate of interest earned before the judgment on the judgment amount will be the rate of interest your Savings Account earned during that period, unless a different rate is required by applicable state law.

Qualifications & exceptions

• State law may require a different pre-judgment rate.

Charges & Financial Obligations · Company commitment

Bank pays all arbitration fees for relief of $75,000 or less and may cover more on hardship

Filing, administration and arbitrator fees are governed by the AAA Rules unless the Arbitration Agreement provides otherwise. If the relief sought is $75,000 or less, the Bank pays all Arbitration Fees at the depositor's request. If the relief sought exceeds $75,000 and the depositor demonstrates economic inability to pay, or the arbitrator determines the depositor should not pay, the Bank pays the depositor's portion. If the depositor shows arbitration costs would be prohibitive compared with litigation, the Bank pays as much of the fees as the arbitrator deems necessary to avoid a cost-prohibitive arbitration. Attorneys' fee payments follow the AAA Rules.

Supporting quotations

Payment of all filing, administration, and arbitrator fees (collectively, the Arbitration Fees) will be governed by the AAA Rules, unless otherwise provided in this Arbitration Agreement. If the value of the relief sought is $75,000 or less, at your request, the Bank will pay all Arbitration Fees. If the value of relief sought is more than $75,000 and you are able to demonstrate to the arbitrator that you are economically unable to pay your portion of the Arbitration Fees or if the arbitrator otherwise determines for any reason that you should not be required to pay your portion of the Arbitration Fees, the Bank will pay your portion of such fees. In addition, if you demonstrate to the arbitrator that the costs of arbitration will be prohibitive as compared to the costs of litigation, the Bank will pay as much of the Arbitration Fees as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive. Any payment of attorneys' fees will be governed by the AAA Rules.

Qualifications & exceptions

• The all-fees commitment at $75,000 or less requires the depositor's request.
• Above $75,000, the depositor must demonstrate economic inability or obtain an arbitrator determination.
• The cost-prohibitive showing can require the Bank to pay additional fees.
• Attorneys' fees follow the AAA Rules.

Charges & Financial Obligations · Context

Stated interest rate is 3.39% with a 3.45% APY, both subject to change

The Truth in Savings Disclosure states an interest rate of 3.39% and an annual percentage yield of 3.45%. The interest rate and APY may change.

Supporting quotations

RATE INFORMATION. The interest rate on your Savings Account is 3.39% with an annual percentage yield ("APY") of 3.45%. Your interest rate and APY may change.

Qualifications & exceptions

• The rate and APY are subject to change.

Charges & Financial Obligations · Company practice

Bank may change the rate at any time at its discretion, with no rate floor or ceiling

The Bank may change the interest rate on the savings account at its discretion and at any time. There are no maximum or minimum interest rate limits for the account.

Details not recorded for this card

Supporting quotations

Determination of Rate. At our discretion, we may change the interest rate on your Savings Account.

Frequency of Rate Changes. We may change the interest rate on your Savings Account at any time.

Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this Savings Account.

Qualifications & exceptions

• There is no rate floor or ceiling stated.
• Changes are at the Bank's discretion and may occur at any time.

Charges & Financial Obligations · Procedure

Interest compounds daily, credits monthly, and fractions below half a cent are forfeited

Interest compounds daily and is credited monthly as of the last day of the monthly cycle; interest for the last day accrues and posts the same day. Interest is paid only in whole cents. At the end of each cycle, accrued interest less than half a cent is rounded down and the difference is forfeited; half a cent or more is rounded up. The disclosure illustrates: $1.044 credits $1.04, and $1.045 credits $1.05.

Supporting quotations

COMPOUNDING AND CREDITING. Interest will be compounded on a daily basis and will be credited to your Savings Account monthly, as of the last day of the monthly cycle (the interest on the last day of the cycle will accrue and post the same day). We only pay interest in whole cents. At the end of each monthly cycle, any fractional amount of interest accrued that is less than one half of one cent will be rounded down to the nearest whole cent, and you will forfeit the difference. For example, if $1.044 in interest accrues during the monthly cycle, we will credit $1.04 to your Savings Account. Any fractional amount of accrued interest equal to one half of one cent or more will be rounded up to the nearest whole cent. For example, if $1.045 in interest accrues during a monthly cycle, we will credit $1.05 to your Savings Account.

Qualifications & exceptions

• Fractions below half a cent are forfeited.
• Interest for the last day of the cycle accrues and posts the same day.

Charges & Financial Obligations · Restriction or exception

Closing before interest is credited forfeits accrued interest

If the savings account is closed before interest is credited, the depositor does not receive the accrued interest.

Details not recorded for this card

Supporting quotations

EFFECT OF CLOSING SAVINGS ACCOUNT. If you close your Savings Account before interest is credited, you will not receive the accrued interest.

Qualifications & exceptions

• The forfeiture applies to interest not yet credited at closing.

Charges & Financial Obligations · Context

No minimum balance is required to open, avoid fees or obtain the APY

There are no minimum balance requirements to open the savings account, to avoid fees, or to obtain the disclosed APY.

Details not recorded for this card

Supporting quotations

MINIMUM BALANCE REQUIREMENTS. There are no minimum balance requirements to open this Savings Account, avoid fees or to obtain the disclosed APY.

Qualifications & exceptions

• The statement covers opening, fee avoidance and APY eligibility.

Charges & Financial Obligations · Procedure

Interest uses the daily balance method with an actual/365 day count

Interest is calculated using the daily balance method: a daily periodic rate is applied to every end-of-day balance for the period. The daily rate uses an actual/365 day count convention, and the end-of-day balance is principal plus accrued interest.

Details not recorded for this card

Supporting quotations

BALANCE COMPUTATION METHOD. We use the daily balance method to calculate interest on your Savings Account. This method applies a daily periodic rate to every end-of-day balance in your Savings Account for the period. The daily rate is calculated by using an actual/365- day count convention. The end-of-day balance is calculated by adding the principal and accrued interest.

Qualifications & exceptions

• The day-count convention is actual/365.

Charges & Financial Obligations · Procedure

Interest on noncash deposits accrues no later than the Business Day the Bank receives credit

Interest on noncash deposits begins to accrue no later than the Business Day the Bank receives credit for the deposit.

Supporting quotations

ACCRUAL ON NON-CASH DEPOSITS. Interest begins to accrue no later than the Business Day we receive credit for the deposit of noncash Items.

Qualifications & exceptions

• The timing is tied to the Bank's receipt of credit, not the deposit request.

Charges & Financial Obligations · Company commitment

No account fees are currently imposed while Affirm provides access; overdrawn card amounts remain owed

The Bank does not currently impose any fees in connection with the savings account and will not impose fees for as long as Affirm provides the means to access the account. If the account is linked to a Debit Card Account and card activity overdraws the savings account, no fees are charged, but the depositor remains responsible for the amounts as described in the Insufficient Funds section.

Supporting quotations

FEES AND CHARGES. We do not currently impose any fees in connection with your Savings Account, and we will not impose any fees in connection with your Savings Account for so long as Affirm is providing the means to access the Savings Account. If you link your Savings Account to your Debit Card Account, and Debit Card activity results in your Savings Account being overdrawn, you will not get charged any fees. However, you are responsible for such amounts as described in the “Insufficient Funds” section above.

Qualifications & exceptions

• The no-fee commitment lasts only while Affirm provides the means to access the account.
• Overdrawn card amounts remain payable even though no fee is charged.

Not stated here

• What fees would apply if Affirm stopped providing access is not stated.

Charges & Financial Obligations · Restriction or exception

Third-party EFT limits may change without notice for security reasons

There are limits on the number and dollar amount of transfers the depositor can make to third parties, with details in Section F.4 Transaction Limits. For security reasons, the Bank may not notify the depositor of these limits or changes to them unless applicable law requires notice.

Details not recorded for this card

Supporting quotations

There are limits on the number and dollar amount of transfers you can make to third parties. Please see section F.4 Transaction Limits for more details. For security reasons, we may not notify you of these limits or changes to these limits, unless required by applicable law.

Qualifications & exceptions

• The specific limits are in Section F.4.
• Notice of limits or changes may be withheld for security unless law requires it.

Charges & Financial Obligations · Restriction or exception

EFT debits may not exceed the Available Balance, though the Bank may permit an overdraft

The depositor agrees that an authorized EFT debit will not exceed the Available Balance. The Bank does not have to allow an EFT that would create an overdraft, but may in its sole discretion permit one. If the Bank cannot complete an EFT or other EFT service for a reason associated with the account, the transaction may not be completed and the Bank will not notify the depositor unless applicable law requires it.

Details not recorded for this card

Supporting quotations

Managing Your Savings Account Balance. You agree that the amount of any EFT you authorize, which will debit your Savings Account, will not exceed the Available Balance in your Savings Account. We do not have to allow any EFT that would create an overdraft in your Savings Account. We may in our sole discretion choose to permit an EFT that would create an overdraft in your Savings Account. If we are unable to complete an EFT or perform any other EFT service for any reason associated with your Savings Account, the EFT or other service may not be completed and we will not notify you unless required by applicable law.

Qualifications & exceptions

• Allowing an overdraft is discretionary and not required.
• Failure to complete an EFT may occur without notice unless law requires it.

Charges & Financial Obligations · Company commitment

Bank is liable for losses if it fails to stop a payment ordered three Business Days ahead

If the depositor orders the Bank to stop a preauthorized payment at least three Business Days before it is scheduled and the Bank does not do so, the Bank is liable for the depositor's losses or damages.

Details not recorded for this card

Supporting quotations

Liability for Failure to Stop Payment of Preauthorized Transfer. 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.

Qualifications & exceptions

• The liability condition is an order received at least three Business Days before the scheduled transfer.

Charges & Financial Obligations · Permission or license

Bank may refuse a preauthorized EFT for insufficient funds or unverifiable destination information

The Bank reserves the right to refuse to pay a regular or automatic EFT debiting the savings account, for example if the account has insufficient funds or the Bank cannot verify ownership or other information about the destination account.

Details not recorded for this card

Supporting quotations

Our Refusal to Pay a Preauthorized or Other Regular (Automatic) EFT. We reserve the right to refuse to pay a regular (automatic) EFT debiting your Savings Account, for example, if your Savings Account has insufficient funds to cover such transfer or if we are unable to verify the ownership of or other information about the account to which the funds will be transferred.

Qualifications & exceptions

• The stated grounds are examples, not an exhaustive list.

Charges & Financial Obligations · Procedure

Error investigations take 10 Business Days, extendable to 45 or 90 days with provisional credit

The Bank determines whether an error occurred within 10 Business Days after hearing from the depositor and corrects any error promptly. If more time is needed, it may take up to 45 days to investigate and will credit the account within 10 Business Days for the disputed amount so the depositor has use of the money during the investigation. If the Bank asks for a written complaint and does not receive it within 10 Business Days, it may not credit the account. For new accounts or foreign-initiated transactions, investigation may take up to 90 days, and for new accounts credit may take up to 20 days. The Bank reports results within 3 Business Days after completing the investigation, sends a written explanation if it finds no error, and will provide copies of the documents used.

Details not recorded for this card

Supporting quotations

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 Savings Account within 10 Business Days for the amount you think is in error, so that you will have 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 Savings Account.

For errors involving new Savings Accounts or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Savings Accounts, we may take up to 20 days to credit your Savings Account for the amount you think is in error.

We will tell you the results within 3 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.

Qualifications & exceptions

• Provisional credit depends on the Bank's request for writing being answered within 10 Business Days.
• New accounts and foreign-initiated transactions have longer 90-day and 20-day periods.

Charges & Financial Obligations · Company commitment

Bank is liable for untimely or incorrect EFTs, subject to listed exceptions

If the Bank does not complete an EFT to or from the savings account on time or in the correct amount under the agreement, it is liable for the depositor's losses or damages. The stated exceptions are: insufficient funds through no fault of the Bank; a system or terminal not working properly where the depositor knew of the breakdown when starting the EFT; circumstances beyond the Bank's control, such as fire or flood, despite reasonable precautions; and other exceptions stated in the agreement.

Details not recorded for this card

Supporting quotations

Our Liability for Failure to Make a Transfer. If we do not complete an EFT to or from your Savings Account on time or in the correct amount according to the 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 Savings Account to make the EFT.

If a system or terminal you use to make an EFT was not working properly and you knew about the breakdown when you started the EFT.

If circumstances beyond our control (such as fire or flood) prevent the transfer despite reasonable precautions that we have taken.

There may be other exceptions stated in our Agreement with you.

Qualifications & exceptions

• The exceptions include known system breakdowns and circumstances beyond the Bank's control.
• Other exceptions in the agreement may also apply.