Catch Money DDA Supplemental Terms of Use

Effective as of October 1, 2024

For Catch users who choose to use Catch to enroll in Catch Money DDA, these additional and Supplemental Terms of Use apply, as do the general Terms of Use for Catch Financial, LLC that are available here: https://catch.co/legal/terms.

This Supplemental Terms of Use Agreement (“Supplemental Terms of Use”) describes the terms and conditions that apply to your use of financial products made available by Catch Financial, LLC (“Catch Financial”) and Catch Money LLC (“Catch Money” and together with Catch Financial, “Catch,” ”we,” “us,” or “our”) through our website and online platform located at https://catch.co/ and its subdomains and the content, and other resources available on or enabled on the foregoing (collectively, the “Platform”). These Catch Money DDA Supplemental Terms of Use, together with the Catch Terms of Use, may be referred to as the “Agreement”. The Agreement applies to the demand deposit account provided by TransPecos Banks (the “Bank”) and made available through the Catch platform (the “Catch Money DDA”). These Supplemental Terms of Use include, among other things, your authorization for debits and credits via the automated clearing house network (“ACH”) to and from your external bank account (the “Bank Account”) linked to the Catch Money DDA. For avoidance of doubt, the Bank provides all bank services related to the financial products covered under this Agreement. Catch is solely a technology services provider and is not a bank, nor do we provide banking services.

1. USE OF THE CATCH MONEY DDA. You may only use the Catch Money DDA for your own personal, non-commercial use.

• 1.1 Privacy Policy. You understand that by using the Services related to the Catch Money DDA (including by providing us any personal information through the Services), you agree to the collection, use and disclosure of your personal information (including derivatives thereof) as set forth in our Privacy Policy.

• 1.2 We Do Not Provide Professional Financial Advice; We Are Not Financial Advisors. You acknowledge that Catch is not a bank and does not provide banking services. By accepting this Agreement or using the Services, you separately enter into a deposit account agreement with the Bank to provide all banking services, including a consumer deposit account.

• a. Supporting Your Saving. We monitor and analyze your Bank Account pursuant to your consent. Based on our analytics, we identify funds in your Bank Account that may be income based on the plan you set up and your ACH authorization (as described below). We will either (a) notify you and ask you to verify a resultant transaction or (b) act upon rules you have set up in the App to initiate automated transaction processing through the Bank (“Autopilot”). The Bank will then transfer such funds from your Bank Account to your Catch Money DDA via ACH. We do not guarantee that we will identify or act upon all transactions in your Bank Account. Some transactions may be missed. You should periodically check your transactions to ensure accuracy. We are not liable for any failure to transfer funds for any reason including but not limited to the use of Autopilot, system outages or defects. Only funds from your Bank Account may be transferred to your Catch Money DDA.

• b. Authorization to Transfer Funds & Initiate Payments. Certain Services made available through Catch require your authorization in order to initiate the transfer of funds. You agree to authorize Catch to instruct the Bank to initiate the transfer of funds (as detailed below). Catch may instruct the Bank to initiate transfers between your designated Bank Account(s) and your Catch Money Account with the Bank. These fund transfers may be in the form of ACH credit or debit, electronic, or other payment transfer methods. Your authorization includes transfers both in response to your direct request and automatically based on instructions you provide (e.g., rules-based instructions as part of the Catch Autopilot “always/never” income functionality).

  It is your responsibility to ensure that there are sufficient funds in your Bank Account for the fund transfer activity initiated by Catch. If there are not sufficient funds, Catch or the Bank may choose to decline or cancel the request to transfer funds. Catch is not responsible for any associated fees assessed by Your Bank (the bank where your Bank Account is), including, but not limited to, overdraft fees. Catch is not responsible for the content or accuracy of the payment information you provide to us. Catch is not responsible for any penalties or late fees incurred for payments that are not processed due to insufficient funds, incorrect or insufficient information, or other errors. You understand that payments are not confirmed as complete until either marked as complete in the Catch product or you receive confirmation of payment from Catch. You agree that it is your responsibility to verify payments and payment instructions are complete and accurate.

• c. Building a Custom Plan. You can determine which Catch Services are best suited for your needs. You will be the one deciding how much of your paycheck you wish to set aside. We do not make financial decisions on your behalf or otherwise control or direct your savings approach. Any data we provide is for information purposes only so that you can make a decision that fits your personal financial and personal situation.

2. OBTAINING YOUR CATCH MONEY DDA ACCOUNT.

• 2.1 Obtaining Your Catch Money DDA. In order to access the Catch Money DDA, you will be required to first register an account on the Catch Platform. In opening your Catch Money DDA, you shall (i) provide true, accurate, current, and complete information about yourself, and (ii) maintain and promptly update your information to keep it true, accurate, current, and complete.

• 2.2 Your Catch Money DDA. Notwithstanding anything to the contrary herein, you acknowledge and agree that you are responsible for all activities that occur under your Catch Money DDA. You may not share your Catch Account or password with anyone, and you agree to notify Catch immediately of any unauthorized use of your password, Catch Money DDA, or any other breach of security. If you provide any information related to your Catch Money DDA that is untrue, inaccurate, incomplete or not current, or Catch has reasonable grounds to suspect that any information you provide is untrue, inaccurate, incomplete or not current, Catch has the right to suspend or terminate your Catch Money DDA and refuse any and all current or future use of the Services (or any portion thereof). You agree not to create a Catch Money DDA using a false identity or information, or on behalf of someone other than yourself. You shall not have more than one Catch Money DDA at any given time. You agree not to create a Catch Money DDA or use the Services if you have been previously removed by Catch, or if you have been previously banned from any of the Services.

• a. Our Verification Process. For our compliance purposes, and in order to provide the Services for the Catch Money DDA to you, you hereby authorize us to obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information.

  As part of this authorization, we may during account opening and from time to time as part of ongoing compliance requirements, import certain information from financial institutions to verify your Bank Account information. In some cases, we will directly access this information. We may also integrate third party service providers to facilitate this Service solely for the purpose of importing your information.

  By using the Services you agree to create and use only one Catch Money DDA in order to maintain our “Know Your Customer” requirements. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as:

  • A copy of your government-issued photo ID, such as a passport or driver’s license;
  • A copy of a utility bill, bank statement, affidavit, or other bill, dated within three (3) months of our request, with your name and U.S. street address on it; and
  • Such other information and documentation that we may require from time to time.

  If we approve your registration, you will be authorized to use the Services, subject to these Supplemental Terms of Use. We have sole direction to determine if you are eligible to use our Services.

  Availability or use of funds deposited to your Catch Money DDA may be delayed or denied in the event of technology malfunctions or pursuant to our compliance with or discharge of legal or regulatory responsibilities, or as otherwise provided in this Agreement.

• b. Accuracy of Information. When opening your Catch Money DDA, you must provide accurate and complete information, including payment related information, and your online credentials for your Bank Account (“Catch Money DDA User Information”). You are solely responsible for the activity that occurs on your Catch Money DDA, and you must keep your account password secure. You must notify Catch immediately of any breach of security or unauthorized use of your Catch Money DDA. We are not liable for losses caused by an authorized user.

• c. Changes to your Catch Money DDA. You agree to promptly notify us of changes to your Catch Money DDA User Information by updating your Catch Account on the Website or Application; provided however, that you must notify us at least three (3) Business Days before any changes to your Bank Account information, including, but not limited to, the closure of your Bank Account for any reason by emailing help@catch.co or by updating your Catch Account via the Website or the Application.

3. ACCESS TO YOUR CATCH MONEY DDA.

• 3.1 Available Funds. It is important to know the amount of available funds before instructing us to transfer funds from your Bank Account to your Catch Money DDA or from your Catch Money DDA to your Bank Account. If you do not have sufficient funds available in your Bank Account to cover the amount of the requested transfer, we may choose to decline the request for transfer. You are solely responsible for initiating the transfer from your Bank Account. If you do not have sufficient funds available in your Catch Money DDA to cover a requested transfer to your Bank Account, your request for transfer may be declined.

• 3.2 Your Funds and the Catch Money DDA. To spend or otherwise use funds in your Catch Money DDA you need to first transfer the funds out of your Catch Money DDA to your Bank Account. Your funds will remain in your Catch Money DDA until you provide instructions to transfer any or all of your funds from your Catch Money DDA by indicating a withdrawal within the Website or the Application. We will generally instruct the Bank to transfer the requested funds from your Catch Money DDA to your Bank Account within three (3) Business Days of when we receive your request. We may instruct the Bank to transfer funds from your Catch Money DDA to your Bank Account without notice to you upon the closure of your Catch Money DDA as described below and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for illicit purposes or otherwise in violation of these Supplemental Terms of Use.

• 3.3 Catch Money DDA Use Prohibitions. You may not use the funds in your Catch Money DDA to make unauthorized purchases, withdraw cash, transfer funds to unauthorized third parties, or for any purpose not otherwise included in the Agreement. You are solely responsible for determining whether the funds debited from your Bank Account and the funds maintained in your Catch Money DDA are acceptable to you. We are not responsible for any third-party fees that may be incurred as a result of using the Services, including, but not limited to, third-party fees incurred as a result of maintaining insufficient funds in your Bank Account.

• 3.4 How do I check the balance in my Catch Money DDA? You may obtain information about the balance of funds in your Catch Account at any time by viewing the Website.

• 3.5 Will I receive interest on the funds held in my Catch Money DDA? You will not receive any of the interest or other returns earned on the funds in your Catch Money DDA. You agree that all interest or other earnings accrued on the funds in your Catch Money DDA will be paid to the Bank and Catch. You irrevocably transfer and assign to the Bank and Catch any and all rights that you may have to any interest that may accrue on funds held in your Catch Money DDA. This assignment applies only to interest earned on the funds held in your Catch Account, and nothing in these Supplemental Terms of Use grants Catch any rights to the principal of the funds held in your Catch Money DDA.

4. ACCESS TO YOUR CATCH MONEY DDA.

• Upon the closure of your Catch Money DDA for any reason, we will instruct the Bank to transfer the funds in your Catch Money DDA, if any, to your Bank Account. If your Bank Account is closed or we are otherwise unable to transfer the funds in your Catch Money DDA to your Bank Account, we will send you a check for the amount of the funds to you at your street address in our records.

5. CATCH MONEY DDA ACCOUNT DORMANCY.

• If you do not use the Services for a certain period of time, applicable law may require us to report the funds in your Catch Money DDA as unclaimed property. If this occurs, we may try to locate you at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your Catch Money DDA to the applicable state as unclaimed property. The specified period of time to report and deliver funds to a state varies by state, but usually ranges between two (2) and five (5) years.

6. YOUR AUTHORIZATION FOR ACH DEBITS AND CREDITS.

• By agreeing to these Supplemental Terms of Use, you authorize the Bank, through Catch’s instruction, to electronically debit and credit your designated deposit account at your designated depository financial institution. Detailed information concerning daily limits and error resolution can be found within your TransPecos Banks Consumer Deposit Account Agreement and Disclosures.

• You acknowledge that the electronic authorization contained in this Section represents your written authorization for ACH transactions as provided herein and will remain in full force and effect until you notify Catch that you wish to revoke this authorization by emailing help@catch.co. You must notify Catch at least three (3) Business Days before the scheduled debit date of any ACH transaction from your Bank Account in order to cancel this authorization. If we do not receive notice at least three (3) Business Days before the scheduled debit date, we may attempt, in our sole discretion, to cancel the debit transaction. However, we assume no responsibility for our failure to do so. If you withdraw your electronic authorization contained in this Section, we will close your Catch Money DDA and return the balance in your Catch Money DDA to your Bank Account as set forth in these Supplemental Terms of Use, and you will no longer be able to use your Catch Money DDA or the Services, except as expressly provided in these Supplemental Terms of Use. Please note that withdrawal of your electronic authorization contained in this Section will not apply to ACH transactions performed before the withdrawal of your authorization becomes effective.

• In addition to any of your other representations and warranties in these Supplemental Terms of Use, you represent that: (a) your browser is equipped with at least 128-bit security encryption; (b) you are capable of printing, storing, or otherwise saving a copy of this electronic authorization for your records; and (c) the ACH transactions you hereby authorize comply with applicable law.

• For purposes of these Terms, “Business Day” means Monday through Friday, excluding federal banking holidays.

7. DISCLAIMER OF WARRANTIES.

• Catch is not a bank. Banking services are provided by TransPecos Bank, SSB, Member FDIC. The Agreement is the final, complete and exclusive agreement of the parties with respect to the subject matter hereof and supersedes and merges all prior discussions between the parties with respect to such subject matter.