Terms of Service

To open or maintain an account you must be at least 18 years of age, a resident of the United States or a lawfully formed U.S. entity, and provide all information and documentation we request for identity verification under the USA PATRIOT Act and our Customer Identification Program (CIP). We may decline, delay, restrict or close any account, or refuse any application, at our sole discretion where verification is incomplete, unsatisfactory or where law or our risk policies require.

You represent that all information you provide is true, accurate and complete, and you agree to update it promptly if it changes. Providing false, misleading or fraudulent information is grounds for immediate termination and may be reported to law enforcement and regulators.

The Services include personal and business deposit accounts, internal and external funds transfers (ACH, wire, and SWIFT where supported), check deposits, virtual and physical debit and credit cards, statements, and account management tools, as described on our website. We may add, modify, suspend or discontinue any feature or product at any time, with or without notice where permitted by law.

The Services are provided for lawful personal or business purposes only. They are not designed or marketed for use as a money-transmission service, payment processor for third parties, or any activity requiring licensure.

You are responsible for maintaining the confidentiality of your sign-in credentials, devices and verification codes, and for all activity that occurs under your account, whether or not authorized by you, except to the extent expressly provided by the Electronic Fund Transfer Act (Regulation E). You must notify us immediately of any unauthorized access or suspected fraud.

You agree not to: (a) use the Services for any illegal purpose, including unlawful internet gambling under Regulation GG, money laundering, terrorist financing, sanctions evasion or fraud; (b) circumvent or attempt to circumvent any security, limit, or control; (c) scrape, reverse engineer, or interfere with the platform; (d) use the Services on behalf of any person or entity that has been suspended or terminated by us.

Transfers you submit are subject to review, daily and monthly limits, compliance screening (including OFAC sanctions screening) and our final approval. We may hold, delay, reverse or refuse any transaction, and may freeze an account, where we suspect fraud, error, illegality, sanctions exposure, or a breach of this Agreement. You authorize us to place holds on deposited funds in accordance with Regulation CC and our Funds Availability Disclosure.

Transaction details we record — including timestamps, amounts, counterparty data and ledger entries — constitute prima facie evidence of the transactions, subject to applicable law.

Applicable fees (including processing fees by payment rail, card fees and dormancy fees) are disclosed in the Fee Schedule incorporated into the Deposit Account Agreement and Disclosures. We may change fees, rates, terms and product features at any time; material adverse changes to consumer accounts will be provided in advance as required by law. Continued use of the Services after a change takes effect constitutes acceptance of the change.

For consumer electronic fund transfers, we follow the error-resolution procedures of Regulation E. You must report suspected errors promptly and in no event later than 60 days after the statement containing the error was made available. If you fail to report within that period, we may not be liable for subsequent unauthorized transfers. Business accounts are not covered by Regulation E; business customers must review statements promptly and report discrepancies within 10 business days of statement availability, after which the record is deemed conclusive.

We may suspend, restrict or terminate your access to all or part of the Services, and close any account, at any time for any reason permitted by law, including suspected breach of this Agreement, suspicious activity, legal process or risk to the bank. Upon closure, we may return remaining funds by check or transfer less any amounts owed to us, subject to holds for pending items, chargebacks and legal process.

You grant us a contractual right of setoff: we may apply any balance you hold with us against any debt or obligation you owe us, to the extent permitted by law.

THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, EXCEPT AS MAY BE REQUIRED BY LAW. We do not warrant that the Services will be uninterrupted, timely, secure or error-free.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, OUR AGGREGATE LIABILITY ARISING OUT OF OR RELATING TO THE SERVICES IS LIMITED TO THE FEES YOU PAID TO US IN THE SIX (6) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR $100, WHICHEVER IS GREATER. WE ARE NOT LIABLE FOR INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR FOR LOST PROFITS, REVENUE OR DATA, EVEN IF ADVISED OF THE POSSIBILITY. THIS SECTION DOES NOT LIMIT LIABILITY THAT CANNOT BE LIMITED UNDER APPLICABLE LAW.

You agree to indemnify, defend and hold harmless UBANLC BANK (N.A.), its affiliates, directors, officers, employees and agents from and against all claims, losses, liabilities, damages, costs and expenses (including reasonable attorneys’ fees) arising out of or relating to (a) your use of the Services, (b) your breach of this Agreement or applicable law, or (c) your negligence or willful misconduct.

PLEASE READ THIS SECTION CAREFULLY. Except for claims that qualify for small-claims court or individual claims brought in foreclosure or repossession proceedings, any dispute, claim or controversy arising out of or relating to this Agreement or the Services shall be resolved exclusively by final and binding individual arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, before a single arbitrator, seated in Wilmington, Delaware. Judgment on the award may be entered in any court of competent jurisdiction.

YOU AND WE EACH WAIVE THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION, COLLECTIVE ACTION, PRIVATE ATTORNEY GENERAL ACTION OR OTHER REPRESENTATIVE PROCEEDING. ALL CLAIMS MUST BE BROUGHT INDIVIDUALLY. If this class action waiver is found unenforceable, the entire arbitration agreement shall be void. Nothing in this section waives any right you may have to bring a claim before a federal or state regulator or the CFPB.

This Agreement is governed by the laws of the State of Delaware and applicable federal law, without regard to conflict-of-laws principles. Where federal law (including the Electronic Fund Transfer Act, Truth in Savings Act and Consumer Financial Protection Act) applies, it controls over inconsistent state law to the maximum extent permitted.

You consent to receive all agreements, disclosures, statements and notices electronically as described in our E-SIGN Consent. We may monitor and record telephone calls and electronic communications with you for quality, compliance and security purposes, to the extent permitted by law.

If any provision of this Agreement is held unenforceable, the remainder remains in full force. We may assign this Agreement and our rights, including in connection with a merger, acquisition or sale of assets. Our failure to enforce any right is not a waiver of it. This Agreement, together with the Deposit Account Agreement, Privacy Notice, E-SIGN Consent and Fee Schedule, is the entire agreement between you and us regarding the Services and supersedes prior understandings.

Questions about these Terms may be directed to Customer Care through the Help Center or in writing to UBANLC BANK (N.A.), Compliance Department, at our published headquarters address.