Savings Account Agreement

PLEASE READ THIS DOCUMENT CAREFULLY

 

Table of Contents

  1. Savings Account Agreement and Disclosures
    1. Our Agreement
    2. Savings Account Basics
    3. Electronic Funds Transfer Disclosure
    4. Truth in Savings Disclosures

 

I. Savings Account Agreement and Disclosures

  1. A. Our Agreement

     

    This agreement contains the Facile Savings Account Agreement (the “Agreement”) for the optional Facile Savings Account (“Account”, “Savings Account,” or Facile Savings Account”) made available to eligible consumers by Facile, P.O. Box 279, Powell, OH 43065, member of the Federal Deposit Insurance Corporation (“FDIC”) (“Facile” or “Bank”) on behalf of NYMBUS Inc., the program partner responsible for managing the Facile Savings Account and its related Facile Checking Account, defined below. “We,” “our,” and “us” refer to the Bank, Nymbus, our successors, affiliates, or assignees.  “You,” “your,” and “member” refer to the owner of the Facile Savings Account.

     

    The Facile interest-bearing Facile Savings Account is only available to holders of a Facile Checking Account.

     

    The holder of a Facile Checking Account may submit an application to open a Facile Savings Account at https://www.facile-dev.becomelabs.site.  The Facile Savings Account is not designed for business use, and we may close the account if we determine it is being used for business purposes.  We may refuse to process any transaction(s) we believe may violate the terms of this Agreement.

     

    Business Days

    Our business days are Monday through Friday, excluding federal holidays, even if we are open.  Any references to “days” found in this Agreement are calendar days unless indicated otherwise.

     

     

    B. Savings Account Basics

    1. Facile Savings Account Eligibility
      1. The optional Facile Savings Account is available only to citizens and permanent residents of the fifty (50) United States (“U.S.”) and Washington D.C. who are at least 18 years of age with a valid Social Security number who are holders of a Facile Checking Account (“Checking Account”). You must agree to accept electronic, rather than paper statements.  This means;
        1. you must agree to the terms of the Facile Electronic Disclosures Consent Agreement;
        2. you must keep us supplied with your valid, current email address; and
        3. you must agree to accept electronic delivery of all account communications (such as documents, electronic statements, and end-of-year tax forms).
      2. To open a Facile Savings Account, your Facile Checking Account must be open and active.  We may use information from third parties to help us determine if we should open the Facile Savings Account.
    2. Facile Savings
      1. Facile Savings is an optional online Facile Savings Account available only to persons who have an open and active Facile Checking Account.  Facile reserves the right to require seven (7) days’ notice to withdraw funds.
    3. Facile Savings Account Titling and Ownership
      1. A Facile Savings Account must be owned and titled in the name of the owner(s) of the Facile Checking Account who may deposit, transfer, or withdraw funds.  The Facile Savings Account cannot be owned or titled by an organization, as Payable on Death (“POD”) or “In Trust For” (“ITF”).
    4. Death or Incapacitation
      1. You or your appointed party, designee, or appointed individual agree to notify us promptly if you become legally incapacitated, are deemed incompetent, or die.  We will continue to accept deposits and process transaction instructions into and from the Facile Savings Account until we are:
        1. notified of your death or adjudication of incompetency and,
        2. have a reasonable opportunity to act.
        3. You agree that, even if we have knowledge of your death we may pay or process transactions involving the Facile Savings Account on or before the date of death for up to ten (10) days after that date unless ordered to stop by someone claiming an interest in the Facile Savings Account. We may require additional documentation to confirm any claims made on the Facile Savings Account.
    5. Our Relationship With You
      1. Neither this Agreement nor the deposit relationship creates a fiduciary relationship between us and you.
    6. Privacy Policy

      Our Online Privacy, Security & Information Gathering Policy and Privacy Notice are available at https://www.facile-dev.becomelabs.site and are considered part of this Agreement.

     

     

    C. Electronic Funds Transfer Disclosure

    Your Facile Savings Account number and bank routing number (066016944) can be used for the purpose of initiating direct deposits (ACH or electronic credits) to your Facile Savings Account.

     

    NOTE:  You agree that the recipient’s name on any ACH credit(s), direct deposit(s), or Mobile Deposit must be an owner of the Facile Savings Account.  Any deposits received in a name other than the name registered to a Facile Savings Account owner may be returned to the originator and your account may be closed.

     

    General Rules Governing Facile Savings Accounts and Mobile Check Deposit

    The Facile Savings Account and your obligations under this Agreement may not be assigned.  We may transfer our rights under this Agreement.  Use of the Facile Savings Account is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions.  We do not waive our rights by delaying or failing to exercise them at any time.  If any provision of this Agreement shall be determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected.  This Agreement will be governed by the law(s) of the State of Florida except to the extent governed by federal law.

    1. Deposits to the Facile Savings Account
      1. You may make deposits to the Facile Savings Account by transferring funds from your Facile Checking Account using the Website or the Mobile App. These transfers are referred to as “Online Transfers.”  You may also make deposits by ACH credit, electronic direct deposit, or Mobile Check Deposit.
      2. Mobile Check Deposit – Description of Service and Consent. See your Facile Deposit Account Agreement for your Facile Checking Account in Section III. Mobile Check Deposit.
    2. Withdrawals from the Facile Savings Account
      You may withdraw funds from your Facile Savings Account by transferring funds to your Facile Checking Account using the Website or the Mobile App.  These transfers are referred to as “Online Transfers” and are limited to six (6) transfers per statement cycle.
    3. Preauthorized Transfers
      The account number of the Facile Savings Account cannot be used for preauthorized direct debits (“ACH Debits”) from merchants, internet service or other utility service providers (“Merchants”) or for the purpose of initiating direct deposits to the Facile Savings Account.  If presented for payment, ACH Debits will be declined and returned to the Merchant.
    4. Right to Set Off
      If the balance of your Facile Checking Account should become and then remain negative for fifteen (15) days, the funds, if any, in your Facile Savings Account may be used to repay the negative balance.  This means we have the right to set-off any liability, direct or contingent, past, present or future that you owe against any account you have with us.  Further, you grant us a lien on and security interest in the funds on deposit in each of your accounts as security for all your liabilities and obligations to us, now or in the future.  We will notify you if we have exercised our right to set off.
    5. Legal Processes Affecting Savings Accounts
      If legal action such as a garnishment, levy or other state or federal legal process (“Legal Process”) is brought against the Facile Savings Account, we may refuse to permit (or may limit) transfers from it until the Legal Process is satisfied or dismissed.  Regardless of the terms of such garnishment, levy or other state or federal process, we have first claim to any and all funds in your Facile Savings Account.  We will not contest on your behalf any such Legal Process and may take action to comply with such Legal Process as we determine to be appropriate in the circumstances without liability to you, even if any funds we may be required to pay out leaves insufficient funds for a transfer you have authorized. Payment is made after satisfying any fees, charges or other debts owed to us.  You agree that you are responsible for any expenses, including legal expenses and fees we incur due to any Legal Process affecting your Facile Savings Account.  We may charge these expenses to your Facile Savings Account.  You will indemnify us for any losses if we do this.
    6. Account Inactivity
      A Facile Savings Account with no customer-initiated activity for twelve (12) continuous months is considered inactive and is subject to closure.  For purposes of this paragraph, customer-initiated activity includes any Online Transfers you make to or from the Facile Savings Account.  For additional details about closing the Facile Savings Account, see the paragraph labeled “3.  Amendment and Cancellation” in Section D.
    7. Statements
      Electronic statements are available to view and print at https://www.facile-dev.becomelabs.site.  Facile Savings Account statements are considered to be correct.  Carefully review your statement each statement cycle and notify us of any errors within sixty (60) days of your statement becoming available.

  2. D. Truth in Savings Disclosures

     

    1. Opening Deposit and Balance Requirements There is no minimum deposit requirement to open a Facile Savings Account.  There is no minimum monthly average balance requirement to earn the stated Annual Percentage Yield (APY) and to avoid a monthly service charge.  There is no monthly service charge for this account.

      How Interest Is Calculated

      There is no minimum balance required to earn interest on this account.  The daily balance method is used to calculate the interest on the account.  This method applies a daily periodic rate to the daily collected balance in the account each day.  Interest on deposits begin to accrue no later than the business day on which we receive credit for the deposit.  Accrued interest is credited to the balance in the account on the last calendar day of the statement cycle.  Accrued interest that is credited to the balance in the account begins to earn interest no later than the next business day and compounds with each statement cycle.  If you close your account or convert your account to a non-interest earning account before accrued interest, if any, is credited, you will not receive the accrued interest.  A taxpayer identification number will be required to earn interest on this account.

       

      Interest Rate and Annual Percentage Yield

      The chart below shows the interest rate and annual percentage yield applicable to the Facile Savings Account effective 3/23/2020.  Rates are variable and are subject to change at our discretion.  We may change the interest rate for your account at any time.  If you have any questions, please call 833.682.3827 or send an email to facile@nymbus.support.

       

      Interest Rate 0.50%    Annual Percentage Yield 0.50%

    2. Transaction Limitations

      Withdrawals may only be made by Online Transfer from your Facile Savings Account to your Facile Checking Account via the Website Online Banking or by using the Mobile App.  Federal regulations limit the number of Online Transfers from your Facile Savings Account to six (6) per month (statement cycle).  Any transfers initiated from your Facile Savings Account after the sixth transfer will be blocked until the start of the next statement cycle.

    3. Funds Availability
      All Online Transfers are completed electronically. You will have immediate availability to your funds once they are transferred from the Facile Savings Account to your Facile Checking Account or from the Facile Checking Account to the Facile Savings Account.
    4. Amendment and Cancellation
      We may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement at https://www.facile-dev.becomelabs.site, and any such amendment shall be effective upon such posting to the Website.  The Agreement is also available at https://www.facile-dev.becomelabs.site.  You will be notified of any amendment(s) in the manner provided by applicable law prior to the effective date of the amendment(s).  However, if the amendment(s) is made for security purposes, we can implement it without prior notice.
      We may cancel or suspend your Facile Savings Account or this Agreement at any time.  You may cancel this Agreement by calling 833.682.3827 to close your Facile Savings Account.  Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to cancellation.If your Facile Savings Account is cancelled, closed or terminated for any reason, any remaining balance will be transferred to your Facile Checking Account.  If your Facile Savings Account is closed prior to the end of the statement cycle, any accrued interest earned for that cycle will be forfeited. If your Facile Savings Account is at a zero balance ($0.00) for 45 consecutive calendar days, it will be closed.

      Important:

      If your Facile Checking Account is closed for any reason, the Facile Savings Account will automatically be closed.  Upon closure, any remaining funds in the Facile Savings Account, including any interest payments due to you, will be aggregated with the remaining funds in your Facile Checking Account.  The aggregated funds will then be made available for return to you in accordance with the terms of the paragraph labeled “9.  Amendment and Cancellation” found in Section C of the Facile Deposit Account Agreement where we describe the process of closing the Facile Checking Account and forwarding the account balance to you.

    5. Our Liability for Failure to Complete Transactions

      If we do not properly complete a transaction between your Facile Savings Account and your Facile Checking Account on time, or in the correct amount according to our Agreement with you; we will be liable for your actual losses or damages.  However, there are some exceptions.  We will not be liable, for instance:

      1. If through no fault of ours, you do not have enough funds available in your Facile Savings Account to complete the Online Transfer;
      2. If access to your Facile Savings Account has been blocked after you reported your Facile Savings Account number lost or stolen;
      3. If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
      4. If we have reason to believe the requested transaction is unauthorized;
      5. If circumstances beyond our control (such as fire, flood, or computer communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
      6. Any other exceptions stated in our Agreement with you.
    6. Confidentiality

      We may disclose information to third parties about your Facile Savings Account or the transactions you make:

      1. Where it is necessary for completing transactions;
      2. In order to verify the existence and condition of your Facile Savings Account for a third party;
      3. In order to comply with a government agency, court order, or other legal or administrative reporting requirements;
      4. If you consent by giving us your written permission;
      5. To our employees, auditors, affiliates, service providers, or attorneys as needed; or
      6. Otherwise as necessary to fulfill our obligations under this Agreement.
    7. Information About Your Right to Dispute Errors

      If you believe your Facile Savings Account number has been lost, stolen, or compromised in any way, or someone has transferred or may transfer money from your Facile Savings Account without your permission, contact us immediately by calling us at 833.682.3827, sending us an email at facile@nymbus.support, or by writing to us at Facile, P.O. Box 279, Powell, OH 43065. While the nature and frequency of transactions into and out of your Facile Savings Account are described in this Facile Savings Account Agreement, please see “Section II ELECTRONIC FUNDS TRANSFER DISCLOSURE AND SPECIAL TERMS AND CONDITIONS,” of the Deposit Account Agreement where your liability for unauthorized transfers from the Facile Checking Account is explained.

      1. English Language Controls
        The meaning of the terms, conditions and representations herein are subject to the definitions and interpretations in the English language.  Any translation of this Agreement may not accurately represent the information in the original English.
      2. Customer Service

        Customer Service agents are available to answer your calls 24/7/356.  For customer service or additional information regarding your Facile Savings Account, please contact us at:

         

        Facile

        facile@nymbus.support

        P.O. Box 279

        Powell, OH 43065

        833.682.3827

         

      3. Telephone Monitoring/Recording
        Telephone calls between you and us are recorded for Quality Assurance purposes.
      4. Arbitration

      This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.  The state and federal courts located in Miami, Florida shall be the exclusive venue for, and have exclusive venue jurisdiction over, the parties hereto with respect to any matter arising out of or relating to this Agreement, and the parties hereby submit to such courts’ jurisdiction over the parties with respect to any matter arising out of or relating to this Agreement. Each party hereby irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the jurisdiction and laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.  The prevailing party in any such action shall be entitled to recover reasonable attorney’s fees and costs incurred therein.  No part of this Agreement shall be construed against a party because that part or any part was drafted or revised by or on behalf of such party.  The parties expressly disclaim the application of the United Nations Convention on the International Sale of Goods to this Agreement and the Uniform Information Computer Transactions Act, as they may be adopted by the State of Florida.

     

 

This Agreement is effective March 23, 2020.

 

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Banking Services provided by Facile by PNB, Member FDIC.  Facile neither endorses nor guarantees any of the information, recommendations, optional programs, products, or services advertised, offered by, or made available through the external website (“Products and Services”) and disclaim any liability for any failure of the Products and Services.

 

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