Effective Date: July 2021
Last updated: December 2022
Your trust and confidence in Fundid Inc. is extremely important to us. Therefore we strive to be transparent, responsive, and respectful in all our practices. Your privacy is important to us. To better inform and protect you, we are providing this notice explaining our online information practices.
By using our site, Services, features, and information available through such use you expressly agree to the collection and use of information in accordance with this policy.
Information Collection And Use
While using our site, services, features, or the information available through such use, we may ask you to provide us with certain personally identifiable information that can be used to contact or identify you. Personally, identifiable information may include but is not limited to your name, email, phone number, and the company you work for.
You may be required to establish an account in order to take advantage of certain features of our site or certain Services. If you wish to establish an account, you will be required to provide us with information (including personally identifiable information and non-personally identifiable information).
In addition, we may obtain your personally identifiable information from you if you identify yourself to us by sending us an e-mail with questions or comments.
Depending on your use of our site or Services, the collected information is of two types:
- Personally identifiable information – information that identifies you or can be used to identify or contact you. Examples of personally identifiable information include your name, IP address, company name, job title, address, e-mail address, telephone number, and billing and credit card information.
- Non-personally identifiable information - information, any single item of which, by itself, cannot be used to identify or contact you, including demographic information (i.e., age, profession, company industry, gender, current location, or zip code), IP addresses, browser types, domain names, and statistical data involving the use of our site. Certain non-personally identifiable information may be considered a part of your personally identifiable information if it were combined with other identifiers (for example, combining your zip code with your street address) in a way that enables you to be identified. But the same pieces of information are considered non-personally identifiable information when they are taken alone or combined only with other non-personally identifiable information (for example, your account preferences).
In addition to the information described elsewhere in this notice, we also collect certain information which we deem necessary to operate and continuously provide and improve our site, services, and features. The information collected includes:
- By using our Services, you agree to receive emails from us regarding our Services. We may from time to time send you email messages with information about your use of our Services. You agree that all agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. You may opt-out of receiving our newsletter by emailing firstname.lastname@example.org with “Opt-out” in the subject line or by selecting to unsubscribe as may be provided in the applicable email correspondence.
- Your Use of Our Site, Services - Information about how you use and interact with our site including the pages of http://www.getfundid.com that you visit, the time and date of your visit, the time spent on those pages, and other statistics.
- Log Data – Non-personally identifiable information through your log files including computer's Internet Protocol ("IP") address, browser type, browser version, and other information that your browser automatically sends whenever you visit http://www.getfundid.com.
- Cookies and Tracking Technology - Cookies are files with a small amount of data, which may include an anonymous unique identifier. Cookies are sent to your browser from a website and stored on your computer's hard drive. Like many sites, we use "cookies" to collect information. You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent. However, if you do not accept cookies, you may not be able to use some portions of our site.
In addition, we may use third-party services such as Google Analytics that collect, monitor, and analyze this information, as well as the overall use of our site.
Use of Information
We do not sell any data, including your personal data. We will only use your information to improve our site, Services, and features and may use your Personal Information to contact you with newsletters, marketing, or promotional materials. You can opt-out at any time.
We will only process your personal data in accordance with applicable data protection and privacy laws. If you registered with us, we must collect certain personal data from you in order to provide you with access to certain portions of our site and Sevices. When you create an account, you will have been asked to indicate your agreement to provide this data in order to access our services. This consent provides us with the legal basis we require under applicable law to process your data. You maintain the right to withdraw such consent at any time.
We retain the right to disclose or provide access to your information and any information we collect to employees, independent contractors, vendors, and suppliers (collectively, “third parties”) to provide specific services and products related to our site or Services. We require these third parties to protect the privacy of your personally identifiable information consistent with this policy and not use or disclose your personally identifiable information for any purpose other than providing us with products or services for which we contracted or as required by law. Any breach by a third party shall render the third party, and not us, liable for any and all damages.
If you do not agree to our use of your personal data in line with this policy, please do not use our platform.
Storage & Security
We will only retain your information for as long as is reasonably required for you to use our site and/or to provide you with the Services unless a longer retention period is required or permitted by law.
The security of your Personal Information is important to us. However, remember that no method of exchange and transmission of data and information over the Internet (whether receiving or transmitting) is 100% secure. Additionally, no method of electronic storage is 100% secure. While we strive to use commercially acceptable means to collect, protect and store your Personal Information, whether by us or by a third party vendor, we cannot guarantee its absolute security.
If this inherent risk is not acceptable to you, please do not access or use our site, Services, features, or the information available through them.
- Opt-out - Contact us anytime to opt-out of: (i) direct marketing communications from us; (ii) automated decision-making and/or profiling based on your use of our site; (iii) our collection of sensitive personal data; or (iv) any additional processing of your personal data. Please note that, upon opting out, your use of certain portions of our site, Services, features, and/or information accessible through them may be rendered ineffective.
- Access - You may access and review the data we hold about you at any time by contacting us directly.
- Amend – You may update or correct any inaccuracies in your personal data by accessing your account or by contacting us directly.
- Delete – When the data we hold about you is no longer relevant or is incorrect, you can request that we erase your data by contacting us directly.
Limitations Based on Age
We are committed to protecting the privacy of minors. Our site and Services are not designed for or directed to persons under the age of 18. We do not collect personally identifiable information from any person we actually know who is under the age of 18.
By using our site, Services, features, and information available through such use you certify that you are 18 years of age or older.
California Consumer Privacy
California consumers may make a request pursuant to their rights under the CCPA by contacting us. Upon receiving a request, we will verify your request using the information provided to us, including your email address. Government identification may be required. You may also designate an authorized agent to exercise these rights on your behalf.
Some of the sections of this site will allow you to purchase different products and services online provided by other merchants, and not us. Some of the links that we post on our site are “affiliate links.” This means if you click on the link and purchase the item, we will receive an affiliate commission.*
We are not responsible for the quality, accuracy, timeliness, reliability or any other aspect of these products and services. In addition, a merchant will likely have privacy and data collection practices that are different from ours. If you make a purchase from a merchant on their site or on a site that we have posted a link to, the information obtained during your visit to that merchant’s online store or site, and the information that you give as part of the transaction, such as your name, e-mail address, street address, telephone number, and credit card number, may be collected the merchant and us. For more information regarding a merchant, its online store, its privacy policies, and/or any additional terms and conditions that may apply, visit that merchant’s website and click on its information links or contact the merchant directly.
*Disclosed in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
Prohibited and Restricted Businesses
Last updated: June 2022
The examples listed below are not exhaustive and we reserve the right to modify or update the lists below at any time by posting a revised version to our website. The revised version will be immediately effective upon posting. If we determine in our sole discretion that you engage or have engaged in activities that are illegal, may harm others, our reputation or operations, or violate our or others’ rights, including by engaging in any of the activities below or authorizing or helping others to do so, we may deny, terminate, or suspend your use of Fundid Services.
Use of Fundid's services for dealings, engagement, or sale of goods/services linked directly or indirectly with high risk jurisdictions, including Cuba, Iran, North Korea, Syria, Russia, and the Crimea, Donetsk, and Luhansk Regions of Ukraine, is prohibited.
You must not use Fundid’s services for the following activities:
Illegal products and services
- Illegal drugs, substances designed to mimic illegal drugs, and equipment designed for making or using drugs
- Fake references or ID-providing services
- Telecommunications manipulation equipment including jamming devices
- Any business or organization that
- engages in, encourages, promotes or celebrates unlawful violence or physical harm to persons or property
- engages in, encourages, promotes or celebrates unlawful violence toward any group based on race, religion, disability, gender, sexual orientation, national origin, or any other immutable characteristic
- Any other products or services that are in violation of law in the jurisdictions where your business is located or targeted to
Products and services that infringe intellectual property rights
- Sales or distribution of music, movies, software, or any other licensed materials without appropriate authorization
- Counterfeit goods; illegally imported or exported products
- Unauthorized sale of brand name or designer products or services
- Any other products or services that directly infringe or facilitate infringement upon the trademark, patent, copyright, trade secrets, proprietary or privacy rights of any third party
Products and services that are unfair, predatory, or deceptive
- Pyramid schemes
- ‘Get rich quick’ schemes including: investment opportunities or other services that promise high rewards to mislead consumers; schemes that claim to offer high rewards for very little effort or up front work; sites that promise fast and easy money; businesses that make outrageous claims, use deceptive testimonials, use high-pressure upselling, and/or use fake testimonials; (with or without a written contract) offering unrealistic incentives/rewards as an inducement to purchase products or services but do not respond to any queries after the purchase
- No value added services including sale or resale of a service without added benefit to the buyer and resale of government offerings without authorization or added value
- Sales of online traffic or engagement
- Negative response marketing and telemarketing
- Predatory mortgage consulting, lending, credit repair and counseling services
- Predatory investment opportunities with no or low money down
- Remote technical support; mugshot publication or pay-to-remove sites; essay mills; chain letters; door-to-door sales
- Shell banks – i.e. an entity that has no physical existence in the country in which it is incorporated and licensed, and which is unaffiliated with a regulated financial group that is subject to effect consolidated supervision (Section 313 of the USA PATRIOT Act);
- Any other businesses that Fundid considers unfair, deceptive, or predatory towards consumers
Adult content and services
- Pornography and other mature audience content (including literature, imagery and other media) depicting nudity or explicit sexual acts
- Adult services including prostitution, escorts, pay-per view, sexual massages, and adult live chat features
- Adult video stores
- “Gentleman's clubs”, topless bars, and strip clubs
Certain legal services
- Law firms collecting funds for purposes other than legal service fee payment
- Bankruptcy attorneys
- Bail bonds
Firearms, explosives and dangerous materials
- Guns, gunpowders, ammunitions, weapons, fireworks and other explosives
- Peptides, research chemicals, and other toxic, flammable and radioactive materials
- Games of chance including gambling, internet gambling, sweepstakes and contests, fantasy sports leagues with for a monetary or material prize
- Sports forecasting or odds making with a monetary or material prize
- Bidding fee auctions
- Cannabis products
- Cannabis dispensaries and related businesses
- Products containing any amount of CBD/THC
Prohibited Merchant Category Codes
Processing transactions for the following MCCs are prohibited, any exceptions will require formal approval from Fundid and Cross River Bank’s BSA/AML team(s).
- MCC 4829 Money transfer, wire transfers
- MCC 5966 Direct marketing, outbound telemarketing
- MCC 6051 Quasi-cash, currency, money orders, travelers cheques, debt repayment, loan payment, lease payment, mortgage companies (not money transfer, non-financial institution)
- MCC 6211 Securities dealers
- MCC 7273 Dating services, misc. personal services
- MCC 7297 Massage Parlors
- MCC 7800 Gov.-owned Lotteries
- MCC 7801 Gov.-licensed on-line Casinos (on-line Gambling)
- MCC 7802 Gov.-licensed Horse/dog Racing
- MCC 7995 Betting/track/casino/lotto
- MCC 9754 Gambling-Horse, Dog Racing, State Lottery
Misuse of Fundid products
- Use of Fundid products with false, manipulated, inaccurate, or misleading information regarding your identity, business entity, the nature of business, and any other information requested by Fundid (you must inform us immediately of any changes to your personal and business information)
- Use of Fundid products to facilitate transactions on behalf of another undisclosed merchant or for products/services that were not disclosed in the merchant's Fundid account application
- Use of Fundid principally as a virtual terminal (e.g., submitting card transactions by manually inputting card information)
- Processing where there is no bona fide good or service sold, or donation accepted; card testing
- Evasion of card network chargeback monitoring programs
- Sharing cardholder information with another merchant for payment cross-sell products or services
- Use of Fundid intellectual property without prior written consent from Fundid; use of the Fundid name or logo including use of Fundid trade or service marks inconsistent with the Fundid Marks Usage Agreement, or in a manner that otherwise harms Fundid or the Fundid brand; any action that implies an untrue endorsement by or affiliation with Fundid
The types of businesses and activities listed are representative but not exhaustive.
You must not use Fundid’s services for the following activities, unless you have received prior written approval from Fundid. Restricted Business categories may be imposed through card network rules, requirements of financial partners, or due to compliance and legal obligations. If your business falls into one of the restricted categories, please contact us at email@example.com.
Regulated industries such as:
- Financial products and services
- Investment and brokerage services
- Lending services
- Buy Now Pay Later services
- Debt collection agencies
- Insurance services including medical benefit packages
- Money transmitters, currency exchange services and other money services businesses
- Neobanks / challenger banks
- Other financial institutions
- Government grants
- Embassy, foreign consulate, or other foreign governments
Pharmaceuticals and telemedicine
- Online pharmacies
- Prescription-only products including card-not-present pharmaceuticals
- Telemedicine and telehealth services
- Tobacco products including e-cigarettes and e-liquid
- Credit card and identity theft protection services
- Other age restricted goods or services
Businesses that may pose elevated financial risk such as:
- Travel reservation services and clubs
- Airlines and cruises
- Timeshare services
Non-fiat currency and stored value
- Virtual and cryptocurrencies, non-fungible tokens (NFTs), and mining services
- Prepaid phone cards, sim cards, and phone services
- Sale of stored value or credits maintained, accepted and issued by anyone other than the seller
- Sale of in-game currency or game items, unless the merchant is the operator of the virtual world
Other high risk business models such as:
- Businesses where sellers get their revenue both from selling items and from signing up new sellers
- Network marketing and referral marketing programs
Shipping and forwarding brokers
- Shipping brokers
- Forwarding brokers
- Drop shipping
- Charity sweepstakes and raffles for the explicit purpose of fundraising
The types of businesses listed are representative but not exhaustive.
Fundid is committed to making our website’s content accessible and user-friendly to everyone. If you are having difficulty viewing or navigating the content on this website, or notice any content, feature, or functionality that you believe is not fully accessible to people with disabilities, please email our team at firstname.lastname@example.org with “Disabled Access” in the subject line and provide a description of the specific feature you feel is not fully accessible or a suggestion for improvement.
We take your feedback seriously and will consider it as we evaluate ways to accommodate all of our customers and our overall accessibility policies. Additionally, while we do not control such vendors, we strongly encourage vendors of third-party digital content to provide content that is accessible and user-friendly.
PATRIOT Act Notice
Revised September 21, 2022
- CONSENT TO USE ELECTRONIC DOCUMENTS AND ELECTRONIC DISCLOSURES
Electronic delivery of communications
This Consent to Use Electronic Records and Signatures (the “ESIGN Consent”) covers Fundid. and its affiliates (collectively, “Company”); and (ii) Cross River Bank and its affiliates and service providers (collectively, “Bank,” and individually and collectively with Company, “we,” “our,” or “us”). For purposes of this ESIGN Consent, the words “we,” “our,” and “us” also mean our assigns. The words “you” and “your” means each person who agrees to this Consent.
By providing your consent as set forth below ("Consent"), you agree to the following:
- Fundid and any Fundid Partner may provide any or all Disclosures either electronically on the Fundid Website or in any Fundid App, through a hyperlink provided on the Fundid Website or in any Fundid App, and, at its sole discretion electronically to the email address or mobile telephone number that you have provided to us.
- Fundid and/or an Fundid Partner may, but is not required to, notify you via email or text message when the Disclosures are available and how to view them, either via the hyperlink, email, or other electronic method described herein. The Disclosures will be provided to you in a format that can either be retained, printed or downloaded for your records.
- Your electronic signature on agreements and documents has the same effect as if you signed them in ink.
- Your Consent applies to any transaction undertaken through the Services in the past, to all future disclosures and communications on your account, to all future transactions in which you use the Services, at any time, to any transaction with us, and to other Disclosures that we provide to you by email.
- Your Consent means that Disclosures Fundid and any Fundid Partner provides to you electronically shall have the same meaning and effect as if provided in paper form, regardless of whether you actually view those Disclosures.
- MINIMUM REQUIREMENTS.
You understand that, in order to view and/or retain copies of the Disclosures, you will need the following hardware and software:
- A computer or mobile device with an Internet connection or mobile connectivity and the ability to download and run the software described in this Section 2;
- For website-based Disclosures accessed by computer, the computer must have a current operating system and web browser (PCs should be running Windows 7 or higher and Microsoft Edge, Chrome, or Firefox; Macs should be running OSX and Safari, Chrome, or Firefox);
- For Disclosures accessed by mobile application or mobile website, the mobile device must have a current operating system and web browser (for Apple devices, the most current version of iOS or one prior, and for Android devices, the most current version of the Android operating system or one prior), and the most current version of the Fundid App(s) through which you access or use the Fundid Services;
- A current version of a program that accurately reads and displays PDF files (e.g., Adobe Acrobat Reader);
- A valid email address, and, if you use a spam filter that blocks or re-routes emails from senders not listed in your address book, you must permit messages from the Fundid.com domain in your spam filter;
- A working mobile telephone number that can receive text messages; and
- Sufficient storage space to save Disclosures or the capability to print the Disclosures from the device on which you view them.
We will notify you if our hardware or software requirements change and whether that change creates a material risk that you would not be able to access or retain your electronic Disclosures. Continuing to use the Services after receiving notice of the change is the reaffirmation of your Consent.
- WITHDRAWING CONSENT.
You are free to withdraw your Consent at any time. If at any time you wish to withdraw your Consent, you can send us your request by submitting a written request to us via email at email@example.com. Any withdrawal of your Consent will be effective after a reasonable period of time for processing your request. The legal effectiveness, validity and/or enforceability of electronic Disclosures we sent before your withdrawal of Consent is effective will not be affected. If you withdraw your Consent, Fundid may close or limit access to your account and the Services. You agree to pay any amount owed to Fundid and/or the partner bank even if you withdraw your Consent and we close or limit access to your account.
- RIGHT TO REQUEST AND RECEIVE PAPER COPIES.
You agree that Fundid may modify or change the methods of disclosure described herein, and that Fundid and/or the partner bank may send you Disclosures in paper form at its option.
- UPDATING YOUR INFORMATION
You agree that it is your responsibility to notify Fundid of any changes to your primary email address, phone number, or any other contact information so that Fundid can communicate with you electronically. You agree that Fundid is not responsible for any delay or failure in your receipt of any Disclosure, text message or email notice that is not caused by Fundid's failure to send such a Disclosure or notice to the phone number or email address you have provided to us. We will not assume liability for non-receipt of notification of availability of electronic Documents in the event your mobile number, email address or other contact information on file is invalid; your email or Internet service provider filters the notification as "spam" or "junk mail"; there is a malfunction in your computer, mobile device, browser, Internet service, mobile connectivity and/or software; or for other reasons beyond our control.
It is your responsibility to provide us with true, accurate and complete mobile number, e-mail address, contact, and other information related to the Services, and to maintain and update promptly any changes in this information. To update your information, contact Customer Support via email at firstname.lastname@example.org..
- YOUR CONSENT TO ELECTRONIC DISCLOSURES
Before using the Services, you will be asked for your agreement to the Terms, including the Business Finance Services Terms & Conditions and this Fundid E-Sign Consent Agreement, by clicking "Create Account." This action constitutes your electronic signature and manifests your Consent and agreement to this Fundid E-Sign Consent Agreement.
If you do not provide your Consent, you may not use the Services and must discontinue your use of the Services immediately.
Fundid Card Program Terms of Service
Revised November 17, 2022
These Fundid Card Program Terms of Service (“Card Terms”) set forth the requirements for your participation in the Fundid Business-Building Card Program (“Program”) and the terms that govern your use of Fundid Business-Building Card (“Card”), including the process for obtaining and managing Cards through your Fundid Account, and the issuance and use of Cards as governed by these terms and your Cardholder Agreement. We may update these Fundid Card Program Terms at any time by delivering Notice, and your continued use of Cards will constitute acceptance of the updated terms.
These Fundid Card Program Terms include an authorization for Fundid to automatically debit your Linked Accounts for amounts owed for use of the Services, including Charges, Fees, Fines, and other transactions you make on Cards.
1. Payment Cards
1.1 Cardholder Agreement
Cards are issued by Cross River Bank (“Issuer”), Member FDIC, or any other bank as identified on the back of physical Cards issued to you, on your Account page on our website, or in relevant program materials provided to you. You may only use the Program Cards if you consent to the applicable Cardholder Agreement. Please be aware that the Cardholder Agreement may state that (1) Issuers may update Cardholder Agreement at any time by providing Notice to you, and (2) your continued use of the Cards constitutes your acceptance of such updated Cardholder Agreement.
1.2 Linked Accounts
We may use Financial Data from Linked Accounts to: (1) verify account balances and account information at onboarding; (2) identify spending patterns and potential fraud; (3) determine and review spending limits; (4) analyze and report transactions; and, (5) provide services to you. You must maintain at least one Linked Account at all times and agree that Fundid may directly debit any Linked Account for payment of amounts owed. You may change or update Linked Accounts through your Fundid Account. Use of specific Services or features may also require Fundid to access Company Data through Third-Party Services. In linking your bank account to your Fundid portal, you attest that this is a business bank account and not a consumer or other type of account, and is not used for personal or household purposes.
1.3 Spending Limits
A Company’s spending limit is determined by Fundid, at its sole discretion, using their business profile and other data available to Fundid including the applicant’s available funds, trends in available funds, spending patterns, the nature and history of Company’s business, and anticipated use of Cards. Fundid will determine a predefined spending limit for the applicant at onboarding, and may also provide additional restrictions regarding specific transactions or monthly volumes, such as but not limited to “no single transaction may exceed a certain dollar threshold”. Spending limits are dynamic and may be modified by Fundid at any time with or without Notice to you, including temporary increases or decreases, or reducing aggregate or specific spending limits to $0.
1.4 Requesting and Replacing Cards
In order to request a new Card, the account owner must provide their full legal name, contact information, and date of birth, as well as the business name and address. Fundid may also implement multi-factor authentication in the process for requesting replacement cards. Cards may be denied or canceled due to changes in Issuer’s policies, as required by law, or for any other reasons we determine are appropriate in our sole discretion. Cards may be issued to Customers as physical or virtual cards (a Card issued without an associated physical card).
You are responsible for securing Cards, account numbers, and Card security features (including the CVV). You will promptly notify us and take appropriate measures to prevent unauthorized transactions if a Card is lost, stolen, breached, or needs to be replaced. In such cases, the account owner may request the issuance of replacement Cards by Issuers through your Fundid Account. Replacement Cards may have new account numbers that could require you to update the Card on file for any scheduled or recurring payments. You are solely responsible for updating Card information stored with merchants where account numbers have been changed.
1.5 Using Cards and Unauthorized Use
Customers may only use Cards for bona fide business-related Charges and transactions, and not for personal, family, or household purposes. You understand that your Fundid Account is commercial in nature and that certain consumer protection laws, such as the Credit Card Consumer Accountability, Responsibility, and Disclosure Act of 2009, do not apply to this Account. You agree that all Charges and other transactions in your account will be treated as business transactions made solely for business purposes.
You agree to establish and maintain controls designed to ensure that the Card is only used by the Account Owner for bona fide Company business purposes and in compliance with these Fundid Card Program Terms, the Cardholder Agreement, and applicable law. You are responsible for Charges and transactions made by any person given access to Cards even if they are not the person associated with or named on the Card.
Fundid, Issuers, Card Networks, or other intermediary Third-Party Service Providers (including merchant acquirers) may deny or reverse Charges for any reason. Fundid is not responsible for any losses, damages, or harm caused by any Charges that are denied or reversed.
All Customers are subject to all terms, agreements, and policies incorporated by reference, including these Fundid Card Program Terms and Issuer Terms, and must comply with all of the User Terms. Company is responsible for ensuring that they read, understand and comply with their obligations with respect to use of the Cards and the Services.
You must notify us immediately by calling us at email@example.com and assist us in our investigation if your Card is lost or stolen or you believe someone is using your Card without your permission.
1.6 Disputing Charges
You are responsible for reviewing your transaction history promptly and identifying any Charges that you believe are unauthorized or appear in error.
If you and a merchant have a dispute regarding a Charge identified on your Periodic Statement, such as delivery of incorrect goods or services or being charged the wrong amount, you should first attempt to resolve the dispute with the merchant. If the dispute is not resolved to your satisfaction or if you believe the Charge is unauthorized, you may initiate a Chargeback through your Fundid Account by contacting customer support at firstname.lastname@example.org.
You understand that the Fundid Card Program is subject to Card Network rules regarding chargebacks. The Card Networks have established procedures for resolving Chargebacks that may require you to provide details of the disputed Charge or associated documentation.
Charges relating to disputed Charges and Chargebacks will be collected on the payment date if they are pending resolution as of the date that payment is due for the applicable Periodic Statement. Chargebacks resolved in your favor will be credited to your Fundid Account on either the current or a future Periodic Statement. We may impose Fees, or suspend access to your Fundid Account or the Services if you fail to pay Charges relating to Chargebacks that are pending resolution on the payment date.
2.1 Periodic Statements
You are responsible for payment in full of all Charges, Fees, and Fines. We will provide you Periodic Statements identifying Charges, Fees, Fines, refunds, any other Card transactions, or other amounts owed or credited to your Fundid Account. Periodic Statements may be delivered daily, monthly, or as otherwise described in materials we provide to you when you receive your Card or otherwise indicated by Notice to you. You must notify us promptly if you believe that there are any errors on your Periodic Statement, and submit any disputes or Chargebacks in accordance with these Fundid Card Program Terms.
At the end of each billing cycle, Fundid will automatically debit your Primary Linked Account for all amounts owed as indicated on that Statement and still owed to us. Fundid may debit your Primary Linked Account the business day following the end of a billing cycle that day falls on a weekend or U.S. federal holiday. If an automatic debit fails for any reason, we will attempt to debit your Primary Linked Account again, for the amounts owed 2 days later. You may make additional payments by logging in to your Fundid Account.
2.2 Failure to Pay, Set Off, Collections
If you fail to pay the full amount owed on time, we may attempt to collect amounts owed from your Linked Account, whether or not it is your Primary Linked Account or is currently connected to your Fundid Account. We Fundid may collect partial payments for unpaid amounts from your Linked Account, but any partial payment is not a waiver of our rights and will not satisfy your obligation to pay in full.
Any failure to pay the full amount owed to Fundid when required is a breach of these Fundid Card Program Terms. You are responsible for all costs or expenses that we or Issuers incur in the process of collecting amounts owed but not timely paid, including legal or collections fees.
2.3 Authorization to Debit Linked Accounts, ACH Authorization
THIS SECTION PROVIDES AUTHORIZATION TO AUTOMATICALLY DEBIT YOUR LINKED ACCOUNTS, INCLUDING LINKED ACCOUNTS NO LONGER CONNECTED TO YOUR FUNDID ACCOUNT, FOR ALL AMOUNTS YOU OWE UNDER THESE FUNDID CARD PROGRAM TERMS. PLEASE READ IT THOROUGHLY.
Your Authorization to Debit Linked Accounts
You authorize Fundid, Issuers, or their respective successors and assigns to collect amounts owed under these Fundid Card Program Terms by debiting funds from your Linked Account including Linked Accounts no longer connected to your Fundid Account. If Fundid, Issuers, or their respective assigns use the Automated Clearinghouse (ACH) network, the debits will be governed by the rules established by the National Automated Clearinghouse Association (NACHA) for business-related ACH debits. You also authorize us to debit your Linked Accounts for verification purposes (through microdeposits or similar means). Debits collected under your authorization may be carried out by and in the name of us or our successors or assigns.
Manner and Timing of Payment
We will debit Linked Accounts for all amounts owed to us in connection with our provision of Services. If we cannot collect these amounts via ACH or another method, you agree to immediately pay all amounts owed as directed. We may debit Linked Accounts separately for the payment of fees that you incur.
You also authorize Fundid to debit from your Linked Account for all amounts owed to us immediately, on any date (including before the due date), and without additional Notice where we determine, in our sole discretion, that (a) the total aggregate balance of your Linked Account connected to your Fundid Account is less than the balance minimums required by our underwriting criteria, Company does not satisfy one or more of our other underwriting or credit requirements, or Company or the amounts owed to us pose or may pose an unacceptable risk to Fundid, its successors or assigns Program Partners, Third-Party Service Providers, or Issuers.
In the event there is an error in processing an electronic debit, you authorize us to correct the error by initiating an electronic credit or debit to the Linked Account in the amount of such error on or after the date such error occurs.
Withdrawing Your Authorization
To withdraw the debit authorization from a Linked Account, you must provide us 30 days’ notice. If you withdraw the debit authorization from Linked Accounts, you must pay all amounts owed under your Fundid Account before or upon providing notice, including Charges, Fees, Fines, and other amounts not yet reflected on your Periodic Statements, and you authorize us to debit your Linked Account for such amounts before the withdrawal of authorization takes effect.
Withdrawal of a debit authorization does not terminate your obligation to pay all amounts owed under these Fundid Card Program Terms or the Cardholder Agreement. Company is responsible for all costs of collections and damages if amounts owed are not paid in full by Company when due.
We will disclose Fees to you when you are approved for a Card or through our website. We may update, add, or change Fees after providing 30 days Notice (though we may not provide prior Notice when we reduce any Fee). Fees we assess may include periodic fees, fees for late payments, fees for failed payments or returned payments, fees for misuse of the Services, or other fees we disclose to you. You are responsible for Fees in addition to Charges and Fines.
3. Defined Terms
Account Owner means the business owner of Fundid’s customer Company who applied for the Fundid Business-Building Card and is the sole authorized user for that card.
Card means a physical or virtual payment card issued by an Issuer and managed through your Fundid Account.
Card Networks means payment card networks including Visa or Mastercard.
Cardholder Agreement means the agreement between Company and the Issuer of your Card, Cross River Bank, concerning your use of the Cards.
Charge means a payment for goods or services made to a merchant that accepts payments on the applicable Card Network.
Chargeback means a dispute that you initiate against a merchant for an unresolved dispute with the merchant or where a Charge is unauthorized.
Company means the business that is a customer of Fundid.
Primary Linked Account means the specific Linked Account you designate as the funding source we should use first for payment of Charges, Fees, and Fine on your Fundid Account.
Cross River Bank Cardholder Agreement
Revised November 18, 2022
CREDIT CARD CONTRACT AND INITIAL DISCLOSURE STATEMENT
Please read this Contract carefully. Your credit card account will be / is governed by this Contract. In the
Contract, “Bank”, “we”, “our” and “us” refer to Cross River Bank (“Bank”) and we are the creditor. “You”, “your” and “applicant” are the person(s) or business entity or organization and each officer or owner who applies to us for the Credit Account. “Contract” means the terms and conditions outlined in this Contract that governs the use of your Fundid Account and Card. “Credit Account” or “Account” means the credit card account we open for you, which is used to record transaction activity made by you when you access or otherwise use the line of credit we extend to you. “Credit Limit” means the amount of credit which may be outstanding at any time on the Credit Account. You have requested an Account(s) from us. Card herein shall mean both a physical and virtual business credit card issued by Bank and any renewals or substitutions the Bank issues. You agree to be bound by the terms and conditions contained in this Contract. The Bank will determine the credit limit.
- Your Responsibility for the Account: You are responsible for the full balance on the account and you agree to pay the full statement balance at least monthly under the terms of the Contract. You need to protect and control the Card use by not letting any other person use it. If you let another person use it, you agree to be responsible for any charges they make. The Cards remain our property and you agree to return or destroy them upon our request or we have the right to have a merchant keep the card and return it to us. If your card is lost or stolen or you suspect unauthorized use of your Account, you agree to notify us immediately.
- Using the Account: You agree that you have represented to us that you are obtaining your Credit Account for business purposes and that all purchases and charges will only be for a business purpose as long as you do not charge more than your credit limit. You agree that you will never use your Card for any personal, household or family purposes. At our discretion, we can close or suspend the account at any time . We can also limit the number or amount of charges you can make on the Account. Your Card and Account cannot be used for illegal charges and cannot be used for any type of gambling transaction.
- Your Credit Limit: The Credit Limit is printed on your Monthly Billing Statements. You may not exceed your Credit Limit at any time. If your balance is more than your Credit Limit, you must pay the amount over your Credit Limit immediately and we may suspend your account.
- Monthly Billing Statements: We will provide you an electronic statement every month with the account activity and any applicable fees. It will also show your Payment Amount and Payment Due Date. If you have any questions about your Monthly Billing Statement, please write email@example.com.
- Payments: You are responsible for payment of all amounts due each month. You agree to pay all of your charges to your Credit Account. You also agree to pay all finance charges and other charges added to your Credit Account under the terms of this Agreement or another agreement you made with the Bank Payments will be automatically debited via ACH from your linked account on a monthly frequency. We do not accept check payments. We will post payments when received but we may restrict your ability to make new charges against that payment amount for up to fifteen (15) days.
- Monthly Payment: You may pay your entire balance at any time, without penalty. You must pay the full amount due each month by the payment due date. The Payment Due Date will be twenty-five (25) days from the Closing Date. The Closing Date is the last day of the billing cycle.
If you do not pay your full payment due by the Payment Due Date, you will be billed a Late Fee each month until the account is not past due.
Applying your Payments: Payments will be applied in the following order: Unpaid Interest, Unpaid Fees and other Charges and then principal balance but we reserve the right to change. You cannot make payments over your amount due.
- Payment Methods: All payments must be made in U.S. dollars and drawn via electronic ACH on a financial institution located in the United States. Do not send cash or checks through the mail.
- When Interest is Charged: Interest will not be charged on Fundid charge card accounts.
- Average Daily Balance: We start with the Previous Balance and add purchases as of their post dates, fees and charges as of the transaction date. We subtract payments and credits as of their post dates. Then we add the daily balances and divide by the number of days in the billing cycle. Post dates are the days when your ACH payment clears.
- Account Fees: You agree to pay us the following fees which will be billed to your account.
- Late Fee: You will be billed up to $39 if your payment is not received by the payment due date.
- Returned Payment/NSF Fee: N/A
- Annual Fee: You will be billed an annual fee of $100.
- Foreign Transaction Fee: N/A
- Cash Advance Fee: N/A
- Balance Transfer Fee: N/A
- Minimum Interest Charge: N/A
- Lost or Stolen Cards: If your card is lost, stolen or being used without your permission, call us tollfree at 877- 537-8469 24 hours a day. You should also write to us. Do not use the Card or Account after you have notified us. You will not be responsible for any unauthorized use after you notify us of the loss, theft or
unauthorized use up to $50 U.S. Dollars. Unauthorized use does not include use of a card by an authorized user in an unauthorized manner.
- If Card is Refused: We are not responsible and have no liability if your Card or Account is not accepted for a charge. Although you may have the credit available, we may be unable to authorize credit due to system difficulties or mistakes. If your Account is over the Credit Limit or past due, authorization for charges will be declined.
- Cardholder Privacy: Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Financial companies may need to share customers’ personal information to run their everyday business as permitted by applicable law. We do not share your personal information except as permitted by law to process your transactions, maintain your Account(s), respond to court orders and legal investigations, to report to credit bureaus, or to offer our products and services to you. You agree that we will not be responsible for the release of information to anyone who has gained possession of a Card or Identification Number, Credit Account Number or Social Security Number.
- Calls and Text Messages to Your Cellular Phone: If you provide us with your cellular phone number or contact us from your cellular phone, you are providing this phone number for us or any third party acting on our behalf to contact you at this number. You agree that we may use this phone number to contact you for any business purpose about your account and you agree to be responsible for any fees or charges you incur as a result of providing this information. You may request this number not be used. We may offer options for text messages or other electronic communications that may be received or accessed from your cellular phone and you agree that by enrolling in these services, you understand and agree to be responsible for any fees or charges you incur as a result of this enrollment.
- Delay in Enforcement: We can delay enforcing or fail to enforce any of our rights under this Contract without losing them.
- Credit Reports: You authorize us to obtain business credit reports about your business for any legitimate business purpose. We may obtain a credit report for reviewing, modifying the terms, renewing the account or collection. We may report information about your Account to credit bureaus. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.
- Change in Terms of your Credit Account: We may change any term of this Contract at any time upon notice to you as required by law. You may have the right to reject the change in terms, depending on the type of change, and, if you do, your account will be closed and you will be able to pay off the balance under the terms of this Contact.
- Governing Law: This Contract is entered into in the State of New Jersey where the decision to grant credit will be made. Therefore, this Contract will be governed by the laws of the State of New Jersey applicable to contracts, and applicable Federal law.
- Severability: If any provision of this Contract is invalid or unenforceable under any law, rule or regulation, it will not affect the validity or enforceability of any other provision of this Contract.
- Default: You agree that we can require that you pay us the balance on your Account if the
account is in default. You will be in default of this Contract if any of the following occur: You do not make the Minimum Payment on your Account on or before the Payment Due Date, You die or become legally incompetent, You become insolvent or bankrupt, You exceed or attempt to exceed your Credit Limit, You have provided us with false or misleading information or signatures at any time, You fail to comply with this Contract, or You default in the payment of any other obligation to Bank for borrowed money which is not secured by Your principal residence. If you are in default, we may immediately cancel your Account and we do not have to give you notice of cancellation. You agree that you will destroy the Card(s). Even if an account is in default, you agree to pay Interest and Fees as defined in this Contract until your balance is paid in full. If you resolve a default situation, we can still declare the same or another default later on your Account.
- Cancellation: You may cancel your Account at any time by notifying us in writing at the address on your monthly Statement and destroying all cards issued on your Account. Even if your Account is closed, you agree to pay the balance on the Account under the terms of this Contract. We can suspend your Account privileges or cancel your Account at any time, for any reason. We will notify you after we do so, unless you are in default at that time. We have no obligation to notify you prior to suspending your charging privileges or cancelling your Account.
- Collection Costs: Unless prohibited by applicable law, if we start collection proceedings to recover amounts you owe us by reason of this Contract, you agree to pay reasonable attorney’s fees and other collection costs.
- Headings: The headings used in this Contract are for convenience only and are not intended to define, limit or describe the scope or intent of this Agreement or in any way affect this Contract.
- Notices. You agree to notify us at least ten (10) days in advance of any change in address. Notice(s) sent to one person bound under this Agreement will be considered notice to all. You agree to notify us at least ten (10) days in advance of any change in address for an authorized user. You agree to notify us within five (5) days of any change in your legal structure or any change in your officers or owners.
- No Waiver. Bank can delay enforcing any rights any number of times without losing or diminishing them.
How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).”
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in Paragraph 17 of this Contract.
The information in this application is accurate as of June 2013. This information may change after that date. You should contact: Cross River Bank, 885 Teaneck Road, Teaneck, NJ 07666 or call toll free 877-55CRB55 for any change of this information after June 2013.
ADDITIONAL DISCLOSURES & TERMS AND CONDITIONS
I am applying to Cross River Bank for a credit card account. By applying, I understand that I am not eligible for this offer if:
- My application is received after this offer has expired, is missing required information or the information is unreadable, inaccurate or cannot be verified.
- My address is: a) outside of the 50 United States, Washington, D.C., or a U.S. military location; b) a correctional institution.
- I am otherwise determined to be unable to make my monthly payments based on income, estimated living expenses and other debt I am responsible for.
- I am under 18 years of age or do not have a valid Social Security Number or Individual Taxpayer Identification Number.
- I have previously applied for a Cross River Bank credit card 3 or more times in the last 45 days.
- I have a Cross River Bank card that is past due.
- I am over my credit line on a Cross River Bank credit card.
- I have had a Cross River Bank credit card that has charged off within the past year.
- I have a non-discharged bankruptcy (one that is still unresolved).
With respect to this offer, I acknowledge that:
- Even if I am otherwise eligible for this offer, approval is based upon satisfying Cross River Bank's credit standards.
- Any delinquencies and default history I may have may be considered in determining my creditworthiness.
- Cross River Bank may contact me to obtain or confirm application information. Cross River Bank’s decision to contact me may be based on my creditworthiness.
- I authorize Cross River Bank to check my credit and employment history and to answer questions about its credit experience with me.
- If I am interested in transferring a balance, I may call the customer service number with that request 10 days after my account has been opened.
- This offer is nontransferable.
- The terms of this offer may not be applied to existing Cross River Bank accounts.
- Cross River Bank will retain my response form whether or not it is approved.
- An applicant, if married, may apply for a separate account.
- Certain restrictions apply to the card benefits in this offer. Full details will be mailed to me upon approval.
NEW YORK RESIDENTS: We may obtain a credit report in connection with your application, and upon Your request, you will be informed whether such credit report was requested and, if so, the name and address of the consumer reporting agency that furnished the report. New York residents may contact the New York State Department of Financial Services at 800-342-3736 or www.dfs.ny.gov to obtain information on comparative credit card rates, fees and grace periods.
Notice to Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Credit Profile Authorization
In this Credit Profile Authorization ("Authorization"), the words "you" and "your" mean any person authorizing us to obtain and use such person's consumer reports, as described below. The words "we," "us," "our," and "Fundid" mean Fundid, Inc. and its service providers.
You authorize us to obtain consumer and business credit reports that we will use when considering your application for credit. You also authorize us to obtain consumer and business credit reports from time to time and any other information about you in connection with any legal purpose, including:
- authenticating your identity
- making credit decisions
- increasing or decreasing in the amount of credit made available to you under your account and extensions or withdrawals of credit on your account
- the administration, monitoring, and review of your account and any attendant charges and collection of your account
- offering you enhanced or additional products and services
If you ask, we will tell you whether or not consumer or business credit reports were obtained and if the reports were obtained, as well as the name and address of the credit reporting agencies from which we obtained a report about you.
If you have any questions, please contact us.