Common use of Adding Funds Clause in Contracts

Adding Funds. To add funds to a Savings Pod, you can move money directly from your Current account, up to the available balance of your Current account. Current Accountholders can opt into a round-up feature, where debit card purchases are rounded up to the next dollar on each card swipe purchase and the difference is then transferred into the pod when the transaction settles. A debit card purchase is defined as a settled transaction using your Current card or card number. Debit card purchases do not include ATM or OTC cash withdrawals, ACH transfers, or Current Pay transfers. Users can opt-into this feature in the mobile app by navigating to a Pod and turning on the “round up debit card purchases” button. Users can also opt-out of this feature in the Mobile App. FOR PREMIUM USERS: You can only use the round-up feature on one pod at a time, and can select or change the pod you wish to use at any time in the Mobile App by navigating to the desired pod for the feature. In the event of a cancellation, return, or dispute of a debit card purchase following transaction settlement and round-up activation, the round-up amount will not be reversed and will remain in the respective savings pod. Placing funds into your Savings Pod(s) will set aside that money from your available Current Account balance. If you are attempting to debit an amount from your Current Account and do not have enough funds for the transaction, we will not release funds from your Savings Pod back to your Current Account available balance to complete the transaction. In this case, your transaction will be declined, and you will need to deposit or move funds into your Current Account to re-attempt the transaction. If you elect to close your Account, your balance from all of your active Savings Pods, together with the remainder of your available balance in your Current Account at the time of Account closure, will be returned to you as set forth in the section labeled “Closing your Account and Restricting Account Access.”

Appears in 1 contract

Sources: Deposit Account Agreement

Adding Funds. To add funds to a Savings Pod, you can move money directly from your Current accountAccount, up to the available balance of your Current accountAccount. Current Accountholders can opt into a round-up feature, where debit card Card purchases are rounded up to the next dollar on each card Card swipe purchase and the difference is then transferred into the pod when the transaction settles. A debit card Card purchase is defined as a settled transaction using your Current card Card or card Card number. Debit card Card purchases do not include ATM or OTC cash withdrawals, ACH transfers, or Current Pay transfers. Users can opt-into this feature in the mobile app by navigating to a Pod and turning on the “round up debit card purchases” button. Users can also opt-out of this feature in the Mobile App. FOR PREMIUM USERS: You can only use the round-up feature on one pod at a time, and can select or change the pod you wish to use at any time in the Mobile App by navigating to the desired pod for the feature. In the event of a cancellation, return, or dispute of a debit card purchase following transaction settlement and round-up activation, the round-up amount will not be reversed and will remain in the respective savings pod. Placing funds into your Savings Pod(s) will set aside that money from your available Current Account balance. If you are attempting to debit an amount from your Current Account and do not have enough funds for the transaction, we will not release funds from your Savings Pod back to your Current Account available balance to complete the transaction. In this case, your transaction will be declined, and you will need to deposit or move funds into your Current Account to re-attempt the transaction. If you elect to close your Account, your balance from all of your active Savings Pods, together with the remainder of your available balance in your Current Account at the time of Account closure, will be returned to you as set forth in the section labeled “Closing your Account and Restricting Account Access.”

Appears in 1 contract

Sources: Deposit Account Agreement