Last updated: 09/01/21
The following terms and conditions constitute an agreement (Agreement) between you and Evolve Bank & Trust governing the use of your Kyshi USD account. (Kyshi Account). This Agreement also refers to and includes other disclosures we may provide to you, which are incorporated by reference. As used in this Agreement, Customer, you and your mean the owner of the Kyshi Account, any person responsible for paying back all amounts you owe us under this Agreement, and any other person you may authorize to use and access your Kyshi Account (Authorized User). The terms we, us, our, Bank and Evolve mean Evolve Bank & Trust. By opening or continuing to use a Kyshi Account, you agree to this Agreement. Please keep a copy of this Agreement for your records.
PLEASE READ THIS AGREEMENT CAREFULLY, AS IT CONTAINS AN ARBITRATION AGREEMENT IN SECTION V.C.23 AND OTHER IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS. UNLESS YOU ACT PROMPTLY TO REJECT THE ARBITRATION AGREEMENT, IT REQUIRES THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST US ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, AND (2) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS. IMPORTANTLY, THE ARBITRATION AGREEMENT INCLUDES OPT OUT PROVISIONS.
Your Kyshi Account consists of a Kyshi deposit account (Deposit Account) and a Kyshi Visa debit card (Kyshi Card) provided by Evolve. Evolve also issues cards or other devices to access your Account.
Within your Kyshi Account, you may set up multiple Authorized Users to manage their use of your Kyshi Account. Each Authorized User can also be issued a Kyshi Card, which is associated with Kyshi Account.
You and your Authorized User(s) may never spend more than the amount you have in your Deposit Account with your Kyshi Card or with transactions on your Deposit Account. You are responsible for all activity conducted on your Kyshi Account by an Authorized User, and all transactions Authorized Users make will be treated as if you had made the transaction yourself. Security Agreement. Our Security Interest in Your Deposit Account.
You are responsible for all activity conducted on your Kyshi Account by an Authorized User, and all transactions Authorized Users make will be treated as if you had made the transaction yourself.
Our Security Interest in Your Deposit Account. You hereby grant to us, as of the date you enter into this Agreement, a security interest in all right, title and interest in any Deposit Account you have with us, and all funds deposited therein, now owned or hereinafter acquired (collectively, the Collateral), to secure your performance under this Agreement, including your duty to pay us for all obligations you owe us under this Agreement, present or hereinafter occurring, when payments are due, for every transaction made with your Kyshi Account by you, an Authorized User, or any other person that you or an Authorized User permits to use your Kyshi Account (Security Interest).
Our Right to Exercise the Security Interest. You irrevocably and unconditionally relinquish possession and control over the Collateral, and you pledge and assign as security to us all of your right, title, and interest in it. You must take any action we request to perfect or protect our first lien position Security Interest in the Collateral. You waive the benefit of any homestead or other exemptions in the Collateral. The 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 in your Deposit Account or other Collateral or its proceeds to satisfy your obligations. You expressly agree that our rights under this Security Agreement extend to any electronically deposited federal or state benefit payments (including Social Security benefits) to the extent permitted by law. If you do not 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. In addition, you grant us a right of setoff to your Deposit Account to secure all amounts you owe us under this Agreement. This right of setoff does not apply to your Deposit Account if prohibited by law. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff or Security Interest.
YOU MAY LOSE FUNDS IN YOUR DEPOSIT ACCOUNT. If you are in default of any obligation under this Agreement, or your Kyshi Account is closed for any reason, you authorize us to withdraw funds from your Deposit Account and apply such amounts to the balance you owe us without sending you notice or demand for payment. We may do this in addition to the other rights we have under law or this Agreement. The application of your funds to the balance you owe under this Agreement will not affect your obligation to pay us in full. You are responsible for the repayment of all amounts you owe us under this Agreement.
Legal Proceedings. You represent that
there are no current lawsuits or bankruptcy proceedings that might affect our interest in your Deposit Account; and
you have not and will not attempt to transfer any interest in your Deposit Account to any other person or offer your Deposit Account as collateral or security for any other obligation. If any person seeks to attach your Deposit Account, for example by legal garnishment, you agree that we may deem all amounts you owe us, immediately payable and apply the funds in your Deposit Account as payment of those amounts. If we must hire an attorney to defend or enforce our rights under the Security Agreement, you will pay our reasonable attorneys' fees and court costs, unless prohibited by law.
TRUTH IN SAVINGS DISCLOSURES
IMPORTANT INFORMATION ABOUT YOUR DEPOSIT ACCOUNT RATE INFORMATION.
The interest rate on the balance in your Deposit Account that is eligible to earn interest is 0.0% with an annual percentage yield (APY) of 0.0%. Your interest rate and APY may change.
Determination of Rate.
At our discretion, we may change the interest rate on your Deposit Account.
Frequency of Rate Changes.
We may change the interest rate on your Deposit Account at any time.
Limitations on Rate Changes.
There are no maximum or minimum interest rate limits.
COMPOUNDING AND CREDITING.
Interest will be compounded daily and will be credited to your Deposit Account monthly. If you close your Deposit Account before interest is credited, you will not receive the accrued interest.
MINIMUM BALANCE REQUIREMENTS.
No minimum balance requirements apply to your Deposit Account.
BALANCE COMPUTATION METHOD.
We use the average daily balance method (less to calculate interest on your Deposit Account. This method applies a periodic rate to the average daily balance in your Deposit Account for the Cycle. The average daily balance may be calculated based on your ledger balance or your Available Balance. To get the average daily balance, we add the balance in the Deposit Account for each day of the Cycle, and divide that figure by the number of days in the Cycle. You will not earn interest on any balance in your Deposit Account that is not classified as Available Balance.
ACCRUAL ON NON CASH DEPOSITS.
Interest begins to accrue no later than the Business Day we receive credit for the deposit of non-cash items.
You may not make transactions that would cause the Spent Money to exceed the total balance in your Deposit Account. If you have more than one Sub-Account, you may not make transactions with any Sub-Account that would cause the Spent Money in the Deposit Account to exceed the total Available Balance in the Deposit Account, if you exceed these limits, we may close, suspend, or freeze your Deposit Account.
FEES AND CHARGES.
Please refer to the separate Fee Schedule provided to you with this Agreement for information about fees and charges associated with your Deposit Account. A Fee Schedule will be provided to you at the time you open a Kyshi Account, periodically when fees or charges change, and upon request.
This section applies to all features of your Kyshi Account
About your Kyshi Account
Evolve. The Kyshi Account is provided by Evolve Bank & Trust.
Business Days. Our Business Days are every day except Saturdays, Sundays, and holidays.
Writing to Us. You may e-mail us at hello@Kyshi.co. We will deem any and all notices to us effective upon receipt by us.
Your Account. Your Kyshi Account includes a Deposit Account and a Kyshi Card. THE KYSHI CARD IS A DEBIT CARD. Within your Kyshi Account, you may set up one or Authorized Users. Spending Limit. You may never spend more than the amount you have in your Deposit Account with your Kyshi Card or with transactions on your Deposit Account. If you make a transaction that causes you to exceed the balance on your Kyshi Account, you agree to immediately make a deposit to your Kyshi Account to return your Kyshi Account to good standing. Our general practice is to decline any transaction that would cause you to exceed any Available Balance in your Kyshi Account. Even if we have permitted you to exceed your Available Balance before, we are not required to do it in the future. We may determine the amount of Available Balance, for the purpose of deciding whether a transaction will cause you to exceed the Available Balance only once, and at any time between the time you authorize the transaction and when we decline the transaction or send a notice of the declined transaction.
The App. You can access your Kyshi Account through the Kyshi mobile application (App). You may log in to the App at any time to view and update information about your Account and initiate online transactions. Your use of the App is subject to the Kyshi Terms of Service.
Periodic Statements. We will make available to you one periodic statement (Statement) for your Kyshi Account per month, covering activity on your Kyshi Card and Deposit Account during each monthly cycle (Cycle). We may make your Statements available through the App, or by e-mail. We have made the Statement available to you on the day we notify you that the Statement is available. If your Deposit Account balance has charged off, we may provide you with quarterly Statements.
Opening Your Kyshi Account
Identifying You. To help the United States Government fight terrorism and money laundering, federal law requires us to obtain, verify, and record information that identifies each person that opens an Account. What this means for you: when you open a Kyshi Account, we will ask you for your name, street address, email, phone number, last four digits of your Social Security Number (SSN), and date of birth, and other information that will allow us to identify you. To open a Kyshi Account with us, you must be at least 18 years old, a U.S. citizen or a resident alien with a valid SSN and have a residential address in the U.S. or U.S. territory where we offer the Kyshi Account. We may also ask to see your driver license or other identifying documents that will allow us to identify you. You must tell us when this information changes. We may ask you for additional documents to verify any changes. We may restrict or close your Kyshi Account if we cannot verify your information, or if you do not provide it as requested.
Consumer Reporting Agencies. You authorize us to obtain information about you from time to time from consumer reporting agencies, check verification services, and other third parties for the purpose of considering your application for a Kyshi Account or any other purpose permitted by law.
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 Kyshi 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 Deposit Account. Amounts withheld are reported to the IRS as federal tax withheld and will be reflected on your IRS Form 1099-INT, Interest Income. A TIN may be your SSN if your Kyshi Account is in your name and you are either a U.S. citizen, permanent resident, or otherwise eligible to receive an SSN.
Identifying your business (if applying for a business account). You will need to provide Company information and certain personal information (collectively, “Company Information”), when you apply for an Account. Company Information may include your registered business name and state of incorporation, the business address, ownership details, the nature of the business, and other business information we may request from time to time; the name, contact information, and date of birth of beneficial owners and certain other personnel, and other personal information; and a corporate registration certificate, proof of address, personal identification, and any other documentary information used to verify business and personal information. We provide Company Information to our Banking Services Provider and other third-party service providers to determine your eligibility for the Services. We rely on the accuracy of the Company Information you provide us when opening and maintaining your Account. We may deny your applications, suspend provision of the Services to you, or close your Account if Company Information is out of date, incomplete, or inaccurate. At any time during the term of this Agreement and as part of your use of the Services, we may require additional Company Information from you to verify your identity and the identity of your business, to obtain other information about your business, to open and maintain accounts and aspects of the Services, to assess your financial condition, and to evaluate the risks associated with your business. You expressly consent and authorize us to retrieve additional Company Information about Company and its owners or directors from our vendors and other third parties to solely to assess the history and risks of the business and to prevent fraud, including by obtaining information from credit reporting agencies and information bureaus, and you authorize and direct such third parties to compile and provide such information to us. You acknowledge that this may include names, addresses, credit history, and other data. You acknowledge that we may use Company Information to verify any other information you provide to us, and that any information we collect may affect our assessment of your overall risk to our business.
Ownership of Kyshi Account. This is an individual account or business account based on your application type.
Authorized Users. You may authorize one or more Authorized Users to use and access your Kyshi Account, or any Sub-Account, subject to our approval. The Authorized User must be at least 18 years of age. We reserve the right to limit the number of Authorized Users of your Kyshi Account. We may require you to submit certain information about each person you request to make an Authorized User on your Kyshi Account or a Sub-Account. Authorized Users will have access to certain information about your Kyshi Account and will be able to make transactions with your Kyshi Account. You will be responsible for an Authorized User use of the Kyshi Account, and use of the Kyshi Account by anyone else they allow to use the Kyshi Account, even if you did not want, or agree to, that use. We may also limit an Authorized User ability to use the Kyshi Account. The Authorized User is designated to conduct transactions on your behalf. You do not give up any rights to act on the Kyshi Account, and the Authorized User may not in any manner affect the rights of the owner or beneficiaries, if any, other than by using the Kyshi Card and making transactions on the Kyshi Account. We undertake no obligation to monitor transactions to determine that they are on the owner's behalf. The Authorized User authority is automatically terminated by the death of any owner of the Kyshi 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. We may refuse to accept an Authorized User for any reason, at our sole discretion.
Removing an Authorized User. If you want to remove an Authorized User from your Kyshi Account, you must contact us and request their removal. Authorized Users may remove themselves from your Kyshi Account upon request. You also must immediately destroy all Kyshi Cards in their possession, change or destroy any other Access Credentials (as defined below in Section V.C.1) in their possession, and cancel any arrangements, such as automatic or scheduled transactions, they may have set up on your Kyshi Account. The Authorized User will be able to use your Kyshi Account until we receive the request to remove the Authorized User from your Kyshi Account and we have acted on your notice. During this time, you will still be responsible for all transactions the Authorized User makes using your Kyshi Account. You will be responsible even if these transactions do not appear on or post to your Kyshi Account until after you remove the Authorized User from the Kyshi Account. We reserve the right to remove any Authorized User from your Kyshi Account for any reason. When you or we remove an Authorized User for any reason, we may revoke the Authorized User’s Kyshi Card, close any Sub-Account the Authorized User used, issue a new Kyshi Card with a different number, close your existing Kyshi Account and issue a new Kyshi Account with a new account number, and/or require you to change other Access Credentials. Any funds that remain in the Wallet associated with the closed Sub-Account will remain in your Deposit Account.
Linking External Accounts. You may choose to link your Kyshi Account to an account you have with another financial institution in the U.S. or a U.S. territory where we offer the Kyshi Account. We will call that other account a Linked External Account. You can use your Linked External Account to transfer money to or from your Deposit Account. Any Linked External Account must be owned by you and must be a personal account (not a business or commercial account). Your request to establish a Linked External Account is subject to our verification and approval. In our discretion, we may limit the number of Linked External Accounts you may have at one time, block any transaction you make with your Linked External Account, or disconnect any Linked External Account.
For the terms of your Kyshi Card (if applicable), please see the Kyshi Card Agreement provided to you at the time of opening your Kyshi Account and requesting a Kyshi Card.
Withdrawals and Transfers
Person to Person Transfers
You may use your Kyshi Account to make person-to-person transfers (P2P Transfers) to other Kyshi users.
This section applies to all features of your Kyshi Account.
Communications, Statements, Notices of Errors, and Other Notices
Closing and Restricting Your Kyshi Account
Other Account Terms
PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS. YOU HAVE THE RIGHT TO OPT OUT OF THIS ARBITRATION AGREEMENT AS DESCRIBED BELOW.
Agreement to Arbitrate
This section is referred to as the Arbitration Agreement. If you have a dispute with the Bank or any other Indemnified Party, and are not able to resolve the dispute informally, you and we agree that upon demand by you, the Bank or any other Indemnified Party, the dispute will be resolved through the arbitration process set forth in this section.
You agree that if you have a dispute or claim that has arisen or may arise between you and the Bank or any other Indemnified Party, whether arising out of or relating to this Agreement (including any alleged breach), your Kyshi Account and services provided under this Agreement, any advertising, any aspect of the relationship or transactions between us, and you are not able to resolve the dispute or claim informally, you and we agree that upon demand by you, the Bank or any other Indemnified Party, the dispute or claim will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement. except that you may assert individual claims in small claims court, if your claims qualify. Further, this Arbitration Agreement does not preclude you from bringing issues to the attention of federal, state, or local agencies, and such agencies can, if the law allows, seek relief against us on your behalf. You agree that, by entering into this Arbitration Agreement, you and the Bank are each waiving the right to a trial by jury or to participate in a class action. Your rights will be determined by a neutral arbitrator, not a judge or jury. The Federal Arbitration Act governs the interpretation and enforcement of this Arbitration Agreement.
Parties Subject to this Arbitration Agreement
This Arbitration Agreement applies whenever there is a claim between you and us. If a third party, such as an Indemnified Party other than the Bank, is also involved in a claim between you and us, or if a dispute arises between you and an Indemnified Party other than the Bank relating to this Agreement or your Kyshi Account, then the claim will be decided with respect to the third party in arbitration as well, in accordance with this Arbitration Agreement, and it must be named as a party in accordance with the rules of procedure governing the arbitration. No award or relief will be granted by the arbitrator except on behalf of, or against, a named party.
THIS ARBITRATION AGREEMENT DOES NOT APPLY TO YOU IF, AS OF THE DATE OF THIS AGREEMENT, YOU ARE A COVERED BORROWER UNDER THE FEDERAL MILITARY LENDING ACT. IF YOU WOULD LIKE MORE INFORMATION ABOUT WHETHER YOU ARE COVERED BY THE MILITARY LENDING ACT, IN WHICH CASE THIS ARBITRATION PROVISION DOES NOT APPLY TO YOU, PLEASE CONTACT US AT hello@Kyshi.co
You and we retain the right to pursue in small claims court (or an equivalent state court) any dispute that is within that court jurisdiction, so long as the disputes remain in such court and advance only an individual claim for relief. If either you or we fail to submit to binding arbitration of an arbitrable dispute following lawful demand, the party so failing will bear all costs and expenses incurred by the other in compelling arbitration.
Your Right to Opt Out
If you do not want this Arbitration Agreement to apply to your Kyshi Account, you may opt out by sending us written notice of your decision within 30 days of the opening of your Kyshi Account. Such notice must clearly state that you wish to cancel or opt out of the Arbitration Agreement section of this Agreement. It should include your name, address, Kyshi Account number, and your signature and must be mailed to Kyshi ATTN: LEGAL, Kyshi, 3790 El Camino Real, Unit 503, Palo Alto, CA 94306, California, United States. This is the sole and only method by which you can opt out of this Arbitration Agreement. Your exercise of the right to opt-out will not affect any remaining terms of this Agreement and will not result in any adverse consequence to you or your Kyshi Account. You agree that our business records will be final and conclusive evidence with respect to whether you cancelled or opted out of this Arbitration Agreement in a timely and proper fashion.
Prohibition of Class and Representative Actions and Non-Individualized Relief
YOU AGREE THAT YOU MAY BRING CLAIMS AGAINST THE BANK OR ANY OTHER INDEMNIFIED PARTY ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND THE BANK AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON OR PARTY CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY INDIVIDUAL CLAIM(S), EXCEPT THAT YOU MAY PURSUE A CLAIM FOR AND THE ARBITRATOR MAY AWARD PUBLIC INJUNCTIVE RELIEF UNDER APPLICABLE LAW TO THE EXTENT REQUIRED FOR THE ENFORCEABILITY OF THIS PROVISION.
Pre-Arbitration Dispute Resolution
The Bank and Indemnified Parties are always interested in resolving disputes amicably and efficiently, and most customer concerns can be resolved quickly and to your satisfaction by emailing customer support at hello@Kyshi.co. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (Notice). The Notice to the Bank or Indemnified Party should be sent to Kyshi Technologies Inc., 3790 El Camino Real, Unit 503, Palo Alto, CA 94306, California, United States. The Notice must (a) describe the nature and basis of the claim or dispute and (b) set forth the specific relief sought. If you do not resolve the claim with the Bank or Indemnified Party within 60 calendar days after the Notice is received, you or the Bank or Indemnified Party, as applicable, may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by any party will not be disclosed to the arbitrator until after the arbitrator determines the amount, if any, to which you or the Bank is entitled.
Arbitration will be conducted by a neutral arbitrator in accordance with the American Arbitration Association (AAA) rules and procedures, including the AAA Consumer Arbitration Rules (collectively, the AAA Rules), as modified by this Arbitration Agreement. For information on the AAA, please visit its website, http://www.adr.org. Information about the AAA Rules and fees for consumer disputes can be found at the AAA consumer arbitration page, http://www.adr.org/consumer_arbitration. If there is any inconsistency between any term of the AAA Rules and any term of this Arbitration Agreement, the applicable terms of this Arbitration Agreement will control unless the arbitrator determines that the application of the inconsistent Arbitration Agreement terms would not result in a fundamentally fair arbitration. The arbitrator must also follow the provisions of this Agreement as a court would. All issues are for the arbitrator to decide, including issues relating to the scope, enforceability, and arbitrability of this Arbitration Agreement. Although arbitration proceedings are usually simpler and more streamlined than trials and other judicial proceedings, the arbitrator can award the same damages and relief on an individual basis that a court can award to an individual under this Agreement and applicable law. Decisions by the arbitrator are enforceable in court and may be overturned by a court only for very limited reasons.
Unless the parties to the arbitration agree otherwise, any arbitration hearings will take place in a reasonably convenient location for both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, the determination will be made by AAA. If your claim is for $10,000 or less, you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, or by an in-person hearing as established by the AAA Rules. If your claim exceeds $10,000, the right to a hearing will be determined by the AAA Rules. Regardless of the manner in which the arbitration is conducted, the arbitrator will issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the award is based.
Costs of Arbitration
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.
All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator, will be strictly confidential for the benefit of all parties.
If a court or the arbitrator decides that any term or provision of this Arbitration Agreement (other than the Prohibition of Class and Representative Actions and Non-Individualized Relief section above) is invalid or unenforceable, the parties agree to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Arbitration Agreement will be enforceable as so modified. If a court or the arbitrator decides that any of the provisions of the Prohibition of Class and Representative Actions and Non-Individualized Relief section are invalid or unenforceable, then the entirety of this Arbitration Agreement will be null and void, unless such provisions are deemed to be invalid or unenforceable solely with respect to claims for public injunctive relief. The remainder of this Arbitration Agreement will continue to apply.
Future Changes to this Arbitration AGREEMENT
Notwithstanding any provision in this Agreement to the contrary, if the Bank makes any future change to this Arbitration Agreement (other than a change to the Notice Address) while you have a Kyshi Account, you may reject any such change by sending the Bank written notice within 30 days of the change to the Notice Address. By rejecting any future change, you are agreeing that you will arbitrate any dispute covered by this Arbitration Agreement in accordance with the terms of this Arbitration Agreement as of the date you first accepted this Agreement (or accepted any subsequent changes to this Agreement).
This Fee Schedule lists the fees that may be applicable to your Kyshi Account. You agree to pay all fees applicable to your Kyshi Account. We reserve the right to add or change fees at a later time, and we will notify you of any changes to our fees and this Fee Schedule, as required by applicable law. We may subtract these fees from your balance, even if the fee makes your balance negative.
Kyshi banking services fees
Kyshi will apply the following fees:
|Account Monthly fee|
|Remote Check Deposit|
PURPOSE. The information here describes our policy of holding deposited items in a Deposit Account before funds are made available to you for withdrawal.
DETERMINING THE AVAILABILITY OF YOUR DEPOSIT. Our policy is to delay the availability of funds from your deposits. The length of the delay varies based on the type of deposit as set forth below. During the delay, you may not withdraw the funds, and we will not pay transactions from your Deposit Account using these funds.
The length of the delay is counted in Business Days from the day of your deposit. If you make a deposit before 2:00PM PT on a Business Day, we will consider that day to be the day of your deposit. However, if you make a deposit after 2:00PM PT or on a day that is not a Business Day, we will consider the deposit made on the next Business Day.
Same Day Availability. Electronic direct deposits (e.g., ACH, person-to-person transfers, and other EFTs your Deposit Account supports) will be available on the day we receive your deposit.
Next Day Availability. Funds from the following deposits are available on the first Business Day after the day we receive your deposit:
Second Business Day. Unless otherwise provided by this Agreement, all other funds from deposits will be made on the second Business Day after the day of your deposit.
Special Rules for New Accounts. If you are a new customer, the following special rules will apply during the first 60 days your Deposit Account is open.
Your Responsibility for Deposits. Even if we have made funds available to you and you have withdrawn the funds, you are still responsible for deposits that are returned to us unpaid and for any other problems involving your deposit.
Electronic Fund Transfers: Your Rights and Responsibilities
This disclosure contains important information about your use of electronic fund transfer (EFT) services provided by the Bank in connection with your Kyshi Account. Whenever you accept or authorize EFTs to your Deposit Account, you agree to these terms and conditions, in addition to any other applicable limitations in this Agreement concerning deposits to and withdrawals from your Deposit Account. Please read this document carefully and retain it for future reference.
Business Days. Our Business Days are every day except Saturdays, Sundays, and holidays on which banks in [Tennessee] are legally authorized to be closed.
Types of Available EFTs
Limits on the Type, Frequency or Amount of EFTs. Your Deposit Account may be subject to limitations on the amount or number of withdrawals that you may make from your Deposit Account, including EFTs. Please see Article IV of this Agreement and the Truth in Savings Disclosures. For security reasons, we may also, in our sole discretion, set limits on the dollar amounts of EFTs and on the number of EFTs that may be requested or initiated. To protect the security of the Bank or your Deposit Account, we may suspend your use of EFTs, as permitted by law.
Managing Your Account Balance. You agree that the amount of any EFT debit transaction you authorize will not exceed the Available Balance in your Deposit Account used to make the transaction, or your Spending Limit. We do not have to allow any EFT that would create an overdraft in your Deposit Account. We may in our sole discretion choose to permit an EFT that would create an overdraft in your Deposit Account. If we are unable to complete an EFT or perform any other EFT service for any reason associated with your Deposit Account, the EFT or other service may not be completed and we will not notify you unless required by applicable law.
The use of EFT services described in this Agreement creates certain rights and responsibilities regarding these services as described below.
Documentation of Your EFTs
Periodic Statements. All EFT transactions will be reported on your periodic statement. See Section II.A.8 of this Agreement for more information.
Direct Deposits. If you have arranged to have direct deposits made to your Deposit Account at least once every 60 days, the company making the deposit may tell you every time they send us the money. You may also email us at hello@Kyshi.co to find out whether or not the deposit has been made.
Confirmation. You may write to us at hello@Kyshi.co to find out whether any EFT you request was successfully completed.
Preauthorized and Other Regular (Automatic) Debits
Right to Stop Payment and Procedure for Doing So
If you have told us in advance to make regular payments out of your Deposit Account, you can stop any of the payments. Here is how:
Email to us at hello@Kyshi.co in time for us to receive your request three Business Days or more before the payment is scheduled to be made. If you contact us to stop a payment, please have the following information ready: your account number, the date the transfer is to be made, to whom the transfer is being made, and the amount of the scheduled transfer. 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. We may charge you (see Fee Schedule for exact fees) for each stop-payment order you give. Stop-payment orders may expire after six months from the date of your stop-payment request, and you may be required to renew it in order to ensure its continued effectiveness.
Liability for Failure to Stop Payment of Preauthorized Transfer
If you order us to stop a preauthorized automatic debit three Business Days or more before the transfer is scheduled and we do not do so, we will be liable for your losses or damages.
Notice of Varying Amounts
If you have authorized regular payments out of your Deposit Account, and these regular payments may vary in amount, we or the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. You may choose instead 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.
Our Refusal to Pay a Preauthorized or Other Regular (Automatic) Debit
We reserve the right to refuse to pay a regular (automatic) debit, for example, if your Deposit 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. You may write to us at hello@Kyshi.co to request information about a refusal by us to pay a regular (automatic) debit.
Your Liability for Unauthorized Transfers
During your online Kyshi Account set-up, you will be invited to register your phone number and create Access Credentials to protect your Kyshi Account from unauthorized access. You are responsible for maintaining ownership of the mobile device associated with the phone number and security of your other Access Credentials.
Tell us AT ONCE if you believe that any Access Credentials or device you use to access your Kyshi Account has been lost or stolen, that an EFT has been made without your permission, or that someone has transferred or may transfer money from your Deposit Account without your authorization. You may write to us at hello@Kyshi.co or such other address as we may provide to you from time to time). Using our mobile chat messenger from the Kyshi application is the best way of keeping your possible losses down. You could lose all the money in your Deposit Account. If you tell us within two Business Days after you learn of the loss or theft of your Access Credentials or device, your liability will be limited to $50 if someone accesses your Deposit Account without your authorization.
If you DO NOT tell us within two Business Days after you learn of the lost or theft of your Access Credentials or device, and we can prove we could have stopped someone from using your Access Credentials or device 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, 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 had you told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.
If you grant authority to make transfers to another person who exceeds the authority granted, you are fully liable for any transfers until you notify us that transfers by that person are no longer authorized.
In Case of Errors or Questions about your EFTs
Write to us at hello@Kyshi.co 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. We must hear from you no later than 60 days after we send the FIRST statement on which the problem or error appeared.
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 Deposit 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 Deposit Account.
For errors involving new Kyshi Accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new Kyshi Accounts, we may take up to 20 days to credit your Deposit 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.
Our Liability for Failure to Make a Transfer. If we do not complete a transfer to or from your Deposit Account on time or in the correct amount according to this Agreement, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:
Charges for Transfers or the Right to Make Transfers
We may assess a fee for each EFT, or stop-payment order. Please see the applicable Fee Schedule to determine the applicable amount. The circumstances under which such charges will be assessed, as well as the amount of the charge, are included in the current Fee Schedule.
We will disclose information to third parties about your Kyshi Account or the transfers you make:
Amendments. We may change any provision of this Electronic Fund Transfer Agreement in our discretion. If we do, we will give you notice if and to the extent required by applicable law.
Termination. We reserve the right to terminate your use of any or all of our EFT services for any reason and at any time without notifying you. You also have the right to terminate your use of the EFT services described in this Agreement at any time by calling us or writing to us. If you call, we may require you to put your request in writing and get it to us within 10 Business Days after you call. (Please note that e-mail, SMS/text or online notification will not meet the notice requirements of this section.) If you terminate your use of our EFT services and you have arranged for automatic (regular) transfers involving third parties, you are required to inform any third parties that the transfers will cease. Any termination of your use of our EFT services, whether initiated by you or us, will not affect any of your or our rights and obligations under this Agreement that have arisen before the effective date of such termination.