Effective as of August 12, 2026
CUSTOMER SERVICE:
Phone: +1 877 269 4195 (International: +1 557 222 7420)
Agent Hours: 9am to 5pm Eastern Time, 5 days per week (Monday through Friday).
Interactive Voice Response Hours: Available 24 hours per day, 7 days per week.
Email: support@vetrafi.com
Mail: VetraFi, 300 3rd Street, Suite 918, San Francisco, CA
If you believe your Account has been compromised, please contact Customer Service immediately.
IMPORTANT – PLEASE READ CAREFULLY. THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION (SEE ‘ARBITRATION SECTION BELOW) REQUIRING ALL CLAIMS (EXCEPT CLAIMS ELIGIBLE FOR SMALL CLAIMS COURT) TO BE RESOLVED BY WAY OF BINDING ARBITRATION ON AN INDIVIDUAL BASIS RATHER THAN JURY OR ANY OTHER COURT PROCEEDINGS, OR CLASS OR REPRESENTATIVE ACTIONS OF ANY KIND.
Please read this carefully and retain it for future reference. This VetraFi Savings Account Agreement (the “Agreement”) is revised periodically and may change from time to time. We may also refer to the Agreement as the “Savings Account Agreement” in the VetraFi mobile application (the “App” or “Mobile App”) or vetrafi.com (the “Website”). You can determine when this Agreement was last revised by referring to the Effective Date.
This Agreement applies to the savings account (the “Savings Account” or “Account”) issued by First Bank of the Lake (“Bank”), Member FDIC. VetraFi, Inc. (“VetraFi” or “Program Manager”) is a service provider to Bank and performs certain program management functions in connection with the Program, including functions related to the Account, the Secured Deposit Account, the Card Account, and customer service provided to you directly or through service providers on Bank’s behalf.
By providing an electronic signature or opening, or continuing to hold an Account with us, you agree to the most recent version of this Agreement, which can be accessed from the App or Website. You also agree to be bound by other user agreements such as the E-SIGN Consent Agreement, First Bank of the Lake Privacy Policy, First Bank of the Lake’s US Consumer Privacy Notice, VetraFi Terms of Use, and you acknowledge receipt of the VetraFi Privacy Policy, and any other terms or disclosures provided to you in connection with the Program. In the event of any conflict or inconsistency between the terms of this Agreement and the terms of any other agreement between You and VetraFi, Inc ( with the exception of the E-SIGN Consent Agreement), the terms of this Agreement shall control.
“We”, “our”, and “us” refer to Bank, its successors, affiliates, assignees, agents, or service providers.
“You” and “your” refer to the person who has opened and owns the Account.
“Program” or “VetraFi Program” means the program through which Bank offers the Card Account, the Secured Deposit Account, and the Savings Account through VetraFi.
“Secured Deposit Account” means your VetraFi Secured Deposit Account.
The Card Account, Secured Deposit Account, and Account must be owned by the same individual. You may not transfer, assign, pledge, or grant any interest in the Account or funds in the Account to any other person. The Account does not secure your obligations under the Card Agreement unless this Agreement and the Card Agreement expressly state otherwise.
Bank’s 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.
CELLULAR PHONE CONTACT CONSENT
By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later port to a cellular device, you are expressly consenting to receiving communications including but not limited to live operator calls, prerecorded or artificial voice message calls, and text messages, any or all of which may be delivered using an automatic telephone dialing system or other automated technology, from us, our affiliates and our agents (including, but not limited to, VetraFi) at that telephone number. This express consent applies to each such telephone number that you provide to us now or in the future. You may incur access fees from your cellular provider with your receipt of such calls and text messages. Message frequency may vary. You may opt out by texting STOP at any time.
The Account is an interest-bearing savings account. Transfers to and from the Account may be made only by internal transfer to or from your VetraFi Secured Deposit Account (the “Secured Deposit Account”), unless we expressly make another transfer method available. Funds in the Account will not be automatically transferred, swept, or otherwise used to cover insufficient funds in, or to fund transactions initiated from, the Secured Deposit Account or the Card Account. Transfers from the Account to the Secured Deposit Account may be made only as expressly permitted under this Agreement and must be initiated by you. The Account does not provide check writing capabilities, debit card access, ATM access, point-of-sale access, direct deposit, ACH debit, Bill Pay, or other direct payment functionality.
The Account is separate from the Secured Deposit Account and the Card Account. Funds in the Account do not secure your obligations under the Card Agreement unless this Agreement and the Card Agreement expressly state otherwise.
You agree to pay the fees shown on the Fee Schedule. You will be able to use the App to view the available balance in your Account. Funds associated with your Account that are in transit, unsettled, subject to reversal, or subject to a hold may not be available for withdrawal or transfer until the funds settle and are made available by Bank. We reserve the right to impose limits on the maximum amount that you can maintain in, or transact with, the Account and reserve the right to change such limits at any time. Please see Section 2.C (Limitations on Frequency and Dollar Amounts of Transactions) for maximum balance restrictions and transaction limitations.
You may submit an application to open an Account through the App. If the Secured Deposit Account is not opened, is closed, or is restricted, we may decline to open, close, suspend, freeze, or restrict the Account.
The Account is available only to consumers who are residents of the fifty (50) states of the United States and the District of Columbia, are at least 18 years of age, have a valid Social Security number, have or are approved to open a Secured Deposit Account, and intend to use the Account solely for personal, family, or household purposes and not for business or commercial purposes. You may not open more than one Savings Account unless we expressly permit you to do so.
You are not eligible to open or maintain the Account if you have a suspended VetraFi account or a previously closed deposit account with Bank that was not in good standing, as determined by Bank in its sole discretion. We may use information from third parties to help determine whether to open, maintain, restrict, suspend, or close the Account. We have sole and absolute discretion in determining whether to open the Account.
You must consent to accept electronic communications, rather than paper communications. Your consent means you shall receive electronic delivery of all account communications, including periodic statements, end-of-year tax forms, and other account communications required by applicable law. You must provide us, and continue to maintain with us, valid contact information, including a valid email address.
By accepting and agreeing to receive electronic communications, you represent that: (1) you have read and understand this consent and have the necessary hardware and software to receive communications electronically; (2) you wish to enter into this Agreement electronically; (3) you understand all communications provided to you in electronic format are deemed to have been in written form; (4) agree that your consent will remain in effect until it is withdrawn.
You may withdraw your consent at any time by contacting us through the customer service contact information listed in the preamble of this Agreement. If you revoke your consent to receive electronic communications from us, your Account may be closed. Because the Program is offered electronically, withdrawal of your consent may also result in the closure, suspension, or restriction of your Secured Deposit Account and Card Account, as applicable and as permitted by the agreements governing those accounts and applicable law. Any withdrawal of consent will be effective only after we have a reasonable period of time to process your request and will not apply to any communications electronically sent before your withdrawal request has been processed.
TO HELP THE GOVERNMENT FIGHT THE FUNDING OF TERRORISM AND MONEY LAUNDERING ACTIVITIES, FEDERAL LAW REQUIRES ALL FINANCIAL INSTITUTIONS TO OBTAIN, VERIFY, AND RECORD INFORMATION THAT IDENTIFIES EACH PERSON WHO OPENS AN ACCOUNT.
WHAT THIS MEANS FOR YOU: WHEN YOU OPEN AN ACCOUNT, WE WILL ASK FOR YOUR NAME, PHYSICAL ADDRESS (P.O. BOXES ARE NOT ACCEPTED), DATE OF BIRTH, AND OTHER INFORMATION THAT WILL ALLOW US TO IDENTIFY YOU. WE MAY ALSO ASK TO SEE A COPY OF YOUR DRIVER’S LICENSE OR OTHER IDENTIFYING DOCUMENTS.
The funds in your Account are held in a pooled account at First Bank of the Lake, Member FDIC. Those funds are eligible for FDIC deposit insurance up to the applicable limits and subject to applicable FDIC rules.
FDIC insurance is available only after Bank receives the funds, even if we make the funds available to you before final settlement. The availability of FDIC insurance is subject to Bank’s records, the records of Bank’s service providers, and the FDIC’s rules and determinations if Bank should fail.
For further information about FDIC deposit insurance, you may contact the FDIC at 550 17th Street, N.W., Washington, D.C. 20429, call the FDIC’s toll-free hotline at 1-877-275-3342, or visit www.fdic.gov.
The Account may be owned and titled only in the name of one natural person who may deposit, transfer, or withdraw funds. The Account may not be owned or titled jointly with another person, may not be owned or titled by an organization, and may not be created for the benefit of another person, including as a “Payable on Death,” “In Trust For,” custodial, fiduciary, or similar account. The Account must be owned by the same person who owns the Secured Deposit Account and any Card Account opened in connection with the Program.
You agree that your appointed party, designee, or appointed individual shall 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 your Account until we: (1) are notified of your death or adjudication of incompetency and (ii) have a reasonable opportunity to act. You agree that, even if we have knowledge of your death, we may pay or process transactions on your Account on or before the date of death for up to ten (10) days after that date unless ordered to stop payment by someone claiming interest in the Account. We may require additional documentation to confirm any claims made on the Account.
You may appoint another individual as attorney-in-fact for your Account. The account owner and person executing power of attorney over your Account is known as the “Principal.” The person granted power of attorney for the Principal is known as the “Agent.” To the extent legally permissible, we may refuse to accept a power of attorney for reasonable cause, and we may require the Agent to sign an affidavit stating that the power of attorney presented to us is a true copy and that, to the best of the Agent’s knowledge, the Principal continues to be alive and competent and that the relevant powers of the Agent have not been amended or terminated. The Principal is responsible to provide us with any information if an affidavit presented to us is untrue or misleading or if the Agent exceeds the authority granted by the Principal in the power of attorney. The Agent is required to notify us in writing if the Principal dies or is declared incompetent. The power of attorney will continue in force until we receive written notice of any of the following events, and have had a reasonable opportunity to act on the same: (i) revocation from the Principal; (ii) the Principal’s death, or (iii) the death or incapacity of the Agent. Neither Bank nor Program Manager assumes any duty to monitor the actions of your Agent to ensure that the Agent acts for your benefit.
This Agreement and the deposit relationship do not create a fiduciary relationship with Bank or Program Manager.
Bank’s privacy policy is available at https://www.fblake.bank/privacy-notice/ and is considered part of this Agreement. VetraFi’s privacy policy is available at https://www.vetrafi.com/legal/privacy-policy. By opening or maintaining the Account, you acknowledge that you have received or had an opportunity to review the First Bank of the Lake Privacy Policy and the VetraFi Privacy Policy.
The Account and your obligations under this Agreement may not be assigned by you. Bank may transfer its rights under this Agreement. Use of the Account is subject to all applicable rules and customs of any clearinghouse, Federal Reserve, or other association involved in transactions. Neither Bank nor Program Manager waives its rights by delaying or failing to exercise them at any time. If any provision of this Agreement is determined to be invalid or unenforceable under any rule, law, or regulation, the validity or enforceability of any other provision of this Agreement shall not be affected.
Your Account is not intended for business use, and we may close the Account if we determine it is being used for business purposes. Bank may refuse to process any transaction that it believes may violate this Agreement, Bank policy, or applicable law.
Deposits to the Account may be made only by internal transfer from your Secured Deposit Account, unless we expressly make another funding method available. All deposits must be made in U.S. Dollars.
You may not deposit funds at any ATM or Bank branch location, and you may not deposit cash, paper checks, money orders, foreign currency, direct deposits, ACH credits, or other items directly to the Account.
Funds deposited to the Account are available as described in the General Funds Availability Policy. Neither Bank nor Program Manager is liable for any deposit, transfer, or item that is not permitted for the Account, is lost in transit, is not received by Bank, or is rejected, returned, or destroyed in accordance with this Agreement.
We may refuse to accept any deposit or transfer in our sole discretion, including any transfer that would cause the Account to exceed applicable limits. If any transfer to the Account is returned, reversed, recalled, charged back, or otherwise not fully collected, we may deduct the amount from the Account without prior notice to you and may assess any fee, loss, or expense we incur to the extent permitted by applicable law.
If funds are deposited or transferred into the Account by mistake or otherwise, Bank may correct the error by deducting the amount from the Account without prior notice to you. If the Account balance becomes negative, you must immediately deposit funds or transfer funds from the Secured Deposit Account to cover the negative balance.
If the Account is cancelled, closed, or terminated for any reason, transfers received after the Account closure date may be rejected and returned or transferred as otherwise permitted by applicable law. You may be able to view account activity and download statements and tax documents through the App or Website for at least ninety-five (95) days after closure, but all other Account functionality may be disabled.
From time to time, Bank or Program Manager may increase or decrease the limits or add additional limits to your use of the Account in their sole discretion without notice to you except as required by applicable law, for security, risk, or other reasons. Your Account limits can be found below. Your Account limits can be found in the table below.
Maximum Account Balance | $ | ||
BALANCE INCREASE (Credit) | Occurrence | Dollar Limit | Frequency Limit |
Internal Transfer from Secured Deposit Account | Per Transaction | 250,000 | None |
BALANCE DECREASE (Debit) | |||
Internal Transfer to Secured Deposit Account | Per Transaction | 250,000 | None |
Transfers to and from the Account are limited to internal transfers between the Account and your Secured Deposit Account unless we expressly make another transfer method available. Transfer limits are subject to change at the sole discretion of Bank or Program Manager, subject to applicable law.
You may initiate transfers between the Account and your Secured Deposit Account through the App, subject to available balance, applicable holds and restrictions, transaction limits, and the terms of this Agreement and the Secured Deposit Account Agreement. Transfers from your Secured Deposit Account to the Account will be credited in accordance with the funds availability provisions of this Agreement. Transfers from the Account to your Secured Deposit Account will be debited from the Account upon initiation and credited to the Secured Deposit Account when processed by Bank.
You are not permitted to overdraw the Account. If the available balance in the Account is insufficient to cover any transfer, fee, reversal, correction, or other debit, we may decline the transaction. If the Account balance becomes negative for any reason, you must immediately deposit funds or transfer funds from the Secured Deposit Account to cover the negative balance. Any deposit or transfer we receive for the Account may first be applied to any negative balance.
If the Account has a negative balance for 90 calendar days or more, we may close the Account. We may also close, suspend, freeze, or restrict the Account if you overdraw the Account in violation of this Agreement.
To the extent permitted by applicable law, if the Account balance becomes and remains negative, Bank may use funds in any other deposit account you maintain with Bank through the Program to repay the negative balance, after providing any notice required by applicable law. This right applies to amounts owed under this Agreement for the Account.
We reserve the right to close, suspend, freeze or restrict your Account for any reason at any time, including immediately, with or without notice to you. Such reasons include, but are not limited to:
If Bank’s or Program Manager’s monitoring of the Account, Secured Deposit Account, Card Account, or related activity detects activity that Bank or Program Manager believes may be fraudulent, illegal, unauthorized, suspicious, prohibited by Bank policy, or otherwise risky, Bank may hold, freeze, restrict, or deny access to funds in the Account pending review. Bank may require you or other parties to provide documentation or and/or other materials evidencing the validity of the activity. Funds on deposit in any Account with us are subject to hold at our discretion until the source of such funds and/or activity is properly verified.
If legal action such as a garnishment, levy, or other state or federal legal process (“Legal Process”) is brought against your Account, Bank may refuse to permit, or may limit, withdrawals or transfers from your Account until the Legal Process is satisfied or dismissed. Bank will not contest on your behalf any Legal Process and may take action to comply with such Legal Process as Bank determine to be appropriate. You agree that you are responsible for any expenses, including legal expenses and fees, Bank or Program Manager incurs due to Legal Process on your Account to the extent permitted by applicable law.
An account is considered inactive if it has no customer-initiated activity for a period of six (6) months or more. If your Account becomes inactive (e.g., if you do not use the funds in your Account or access your Account for six months or more), applicable law may require Bank to report the funds in your Account as unclaimed property. If this occurs, Bank (or Program Manager through its service provider(s) may try to locate you at the address shown in Bank’s records. If Bank is unable to locate you, Bank may be required to deliver any funds in your Account to the applicable state as unclaimed property. The specified period of time to report and send funds in an inactive Account to a state varies by state. You may avoid the transfer of your funds to the state by responding to any abandoned property notices we send to you.
Accounts open less than 30 days may be limited in functionality. Deposits and other funds credited to your Account may be provisional for a reasonable amount of time.
You may not use the Account for illegal transactions, fraudulent transactions, or transactions prohibited by Bank policy. You may not use the Account for marijuana-related transactions or to facilitate activity that is illegal under applicable federal or state law. Bank may refuse to process, reject, or return any transaction that Bank believes may violate this Agreement, Bank policy, or applicable law. Bank has no obligation to monitor, review, or evaluate the legality of your transactions. To the fullest extent permitted by law, you remain responsible for any transaction you authorize, even if the transaction is later determined to be illegal or prohibited.
You must maintain a physical address on file with us. P.O. Boxes are not accepted. If you change the address associated with your Account to a P.O. Box, we may cancel your Account, with or without notice.
If the Account is cancelled, closed, or terminated for any reason(except for fraudulent or illegal activity, or due to valid legal process), we may return the unused balance, after satisfaction of all holds, restrictions, pending transfers, fees, and charges, by transfer to your Secured Deposit Account if it remains open and eligible to receive the funds; transfer to an external account owned by you, if we make that option available; check mailed to the address in our records; or another method we deem appropriate.
For security purposes, you may be required to provide identification and address verification documentation before funds are returned. Allow up to thirty (30) days for processing, unless a longer period is permitted or required by applicable law.
If a refund check is issued and not cashed within one hundred and eighty (180) days, the check may be voided and the funds may be returned to the Account, transferred by another permitted method, held until you provide instructions acceptable to us, or handled in accordance with applicable unclaimed-property law.
If the Program is cancelled, closed, or terminated, or Bank’s relationship with Program Manager is terminated, we may close the Account and will provide any notice required by applicable law. The notice will include instructions for receiving any remaining Account balance.
You are responsible for maintaining adequate security and control of any and all credentials you use to access the Account, including user IDs, passwords, passcodes, security questions, authentication codes, biometric credentials, and any other access credentials. You are responsible for keeping your email address, telephone number, mailing address, and other contact information current so that you can receive notices and alerts. Neither Bank nor Program Manager is responsible for any loss you sustain due to compromise of your login credentials or failure to follow or act on notices or alerts, except to the extent required by applicable law.
Electronic fund transfers available for the Account may include internal transfers from your Secured Deposit Account to the Account through the App and internal transfers from the Account to your Secured Deposit Account through the App.
The Account does not support direct deposits, ACH debits, ACH credits from external accounts, third-party payments, Bill Pay, debit card transactions, ATM transactions, point-of-sale transactions, wire transfers, or transfers to or from accounts owned by third parties unless we expressly make such functionality available. We may limit the frequency, amount, type, or availability of transfers. See Section 2.C (Limitations on Frequency and Dollar Amounts of Transactions) for applicable limits.
Periodic Statements. You will have access to electronic statements for the Account, which can be viewed through the App. Statements will be made available on or around the 4th day of each month for the previous billing cycle’s transactions. If that day is a weekend or federal holiday, the statement may be made available on the next Business Day.
Transfers. You can view transfers between the Account and your Secured Deposit Account through the App to determine whether a transfer has been completed. You may also contact Customer Service to verify whether a transfer has been received or sent.
The Account does not support recurring or preauthorized electronic fund transfers, recurring payments, direct deposits, ACH debits, ACH credits from external accounts, or third-party merchant payments unless we expressly make such functionality available. If we later make recurring or preauthorized electronic fund transfers available, we will provide disclosures and terms required by applicable law.
Contact Customer Service IMMEDIATELY if you believe your Account number, Account login credentials, or other access credentials have been lost, stolen, compromised, or used without your permission, or if you believe that an electronic fund transfer has been made from the Account without your permission. Calling us is the best way to keep your possible losses down. You could lose all the money in the Account.
If you tell us within two (2) Business Days after you learn of the loss, theft, compromise, or unauthorized use of your Account number, Account login credentials, or other access credentials, you can lose no more than $50 if someone used your Account without your permission.
If you do NOT tell us within two (2) Business Days after you learn of the loss, theft, compromise, or unauthorized use of your Account number, Account login credentials, or other access credentials, and we can prove we could have stopped someone from using the Account without your permission if you had told us, you could lose as much as $500.
Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within sixty (60) days after the first statement was made available to you on which the problem or error appeared, you may not get back any money you lost after the sixty (60) days if we can prove we could have stopped someone from taking the money if you had told us in time.
If you believe your Account number, Account login credentials, or other access credentials have been lost, stolen, compromised, or used without your permission, contact Customer Service immediately at: Email: support@vetrafi.com; Phone: +1 877 269 4195 (International: +1 557 222 7420); Mail: VetraFi, 300 3rd Street, Suite 918, San Francisco, CA.
If your Account number or access credentials have been compromised, we may deactivate your Account number or access credentials and issue new credentials or a new Account number, as applicable. If we change your Account number, you must ensure that your Secured Deposit Account information is updated as necessary to ensure transfers continue uninterrupted. Neither Bank nor Program Manager will be liable for your failure to do so.
If an electronic fund transfer to or from the Account is not completed on time or in the correct amount according to this Agreement, we will be liable for your losses or damages as required by applicable law. However, neither Bank nor Program Manager will be liable, for example:
In case of errors or questions about electronic fund transfers to or from the Account, if you think your statement is wrong or if you need more information about a transfer listed on the statement, contact Customer Service as soon as you can.
We must hear from you no later than sixty (60) days after the FIRST statement was made available to you on which the problem or error appeared. You need to tell us: (1) your name, Account number, and email address associated with the Account; (2) a description of the error or transfer you are unsure about, and an explanation of why you believe it is an error or why you need more information; and (3) the dollar amount of the suspected error.
If you provide this information verbally, we may require that you send your dispute or question in writing within ten (10) Business Days to: support@VetraFi.com or VetraFi, Attention: Processing Center, 300 3rd Street, Suite 918, San Francisco, CA 94107.
We will determine whether an error occurred within ten (10) Business Days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we do so, we will provisionally credit the Account within ten (10) Business Days for the amount you think is in error, so that you will have use of the money during the investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) Business Days, we may not provisionally credit the Account.
For errors involving electronic fund transfers to or from the Account within thirty (30) days after the first deposit to the Account, we may take up to ninety (90) days to investigate . For new-account transactions, we may take up to twenty (20) Business Days to provisionally credit the Account for the amount you think is in error.
We will tell you the results within three (3) Business Days after completing the investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation by contacting Customer Service.
Electronic Fund Transfer Services described in this Section do not include wire transfers and any other transactions that are not covered by the Electronic Fund Transfer Act and its accompanying Regulation E.
Bank’s 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.
We may disclose information to third parties about the Account or transactions involving the Account where it is necessary or helpful for completing transactions; to verify the existence and condition of the Account for a third party; to comply with government agency, court order, or other legal or administrative reporting requirements; if you consent by giving us your written permission; to employees, auditors, affiliates, service providers, or attorneys as needed; to prevent, investigate, or report possible illegal activity; as permitted by applicable law; or otherwise as necessary to fulfill our obligations under this Agreement. Please see our Privacy Policy, available at https://www.vetrafi.com/legal/privacy-policy, for further details.
Information contained in Section 4 is provided to assist you in understanding our Funds Availability Policy. The Account may be funded only by internal transfer from your Secured Deposit Account unless we expressly make another funding method available. We make funds available according to when the internal transfer is applied or credited to the Account. Some types of deposits may not be available for immediate use. When we delay the availability of funds or place a hold on a deposit made to the Account, those funds may not be withdrawn or transferred during the hold period. We have the right to refuse any transfer.
Business Days
The length of the delay in the availability of funds is counted in business days from the day you submit your deposit to your Account. For purposes of these disclosures, our business days are Monday through Friday. Federal holidays are not included. Deposits received by 11:59pm ET will be considered same-day deposits if made on a business day. Any deposits received after that time, or made on a non-business day, will be processed the following business day.
Funds received by internal transfer from your Secured Deposit Account will generally be available on the day the transfer is applied to the Account. Additional holds may apply if the funds in the Secured Deposit Account are subject to hold, restriction, reversal, chargeback, security interest, pending transaction, legal process, or other limitation.
The interest rate and annual percentage yield (“APY”) for the Account are variable and may change at any time at Bank’s discretion. The current interest rate and APY are 2.956% and 3.00% as of 08/04/2026. We may change the interest rate and APY at any time without prior notice, unless notice is required by applicable law. There are no limits on the amount by which the interest rate or APY may change, except as required by applicable law. We may change the interest rate and APY at any time without prior notice, unless notice is required by applicable law. There are no limits on the amount by which the interest rate or APY may change, except as required by applicable law.
Interest will be compounded daily and credited to the Account monthly. If you close the Account before accrued interest is credited, you will not receive the accrued interest.
There is no minimum deposit required to open an Account.
There is no minimum balance required to be maintained to avoid the imposition of a fee, unless a fee is disclosed in the Fee Schedule.
There is no minimum balance required to obtain the disclosed APY.
We use the daily balance method to calculate interest on the Account. This method applies a daily periodic rate to the principal in the Account each day.
Interest begins to accrue no later than the Business Day on which funds are credited to the Account and made available for interest accrual under Bank’s systems.
Refer to Section 6 for the Fee Schedule. The fees listed in the Fee Schedule are fees that we may charge for the associated services.
Transfers to and from the Account are limited to internal transfers between the Account and your Secured Deposit Account unless we expressly make another transfer method available. Minimum and maximum transfer limitations may apply. Refer to Section 2.C (Limitations on Frequency and Dollar Amounts of Transactions) for details. Please consult the Fee Schedule to determine whether fees may apply.
You agree to pay the Account fees set forth in this Fee Schedule.
Account fees may be deducted from the Account to the extent permitted by applicable law and this Agreement. If the Account balance is less than the fees being assessed, the available balance may be applied to the fees, and the remaining amount may be collected from the next deposit or transfer to the Account or as otherwise permitted by applicable law. We reserve the right to modify the Fee Schedule at any time by providing notice as required by applicable law.
There are currently no fees for the Account.
By opening and using the Account, you authorize Bank, VetraFi, and their service providers to link the Account with your Secured Deposit Account for purposes of facilitating internal transfers, displaying balances and transaction history, providing customer service, operating and servicing the Program, monitoring for fraud, risk, legal compliance, and security purposes, and providing alerts and other Program features. The Account and Secured Deposit Account must remain owned by the same individual. If the Secured Deposit Account is closed, suspended, frozen, restricted, or no longer eligible, we may close, suspend, freeze, or restrict the Account.
From time to time, services related to the Account may be inoperative. When this happens, you may be unable to access the App or Website, and you may be unable to use the Account or obtain information about the Account. Please notify us if you have any problems using the Account, Website, or App. You agree that, except as required by applicable law, Bank or Program Manager will not be responsible for temporary interruptions in service due to maintenance, App or Website changes, or failures, nor shall Bank or Program Manager be liable for extended interruptions due to failures beyond Bank’s or Program Manager’s control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, pandemics, labor disputes and armed conflicts.
Except as required by applicable law, Bank and Program Manager shall have no liability to you if Bank is unable to complete a transaction for any reason beyond Bank’s control. Except as otherwise expressly provided in this Agreement or as otherwise required by applicable law, Bank, Program Manager, Bank’s affiliates, and the parties with whom Bank or Program Manager contracts in order to offer your Account and related services are neither responsible nor liable for any indirect, incidental, consequential, special, exemplary, or punitive damages arising out of or relating in any way to your Account, any products or services purchased using your Account, or this Agreement (as well as any related or prior agreement you may have had with Bank or Program Manager).
English is the controlling language of our relationship with you.
For Account service assistance or additional information regarding your Account, please contact Customer Service.
From time to time, we may monitor and/or record telephone calls between you and us to assure the quality of our service team or as required by applicable law.
Except as otherwise required by applicable law, Bank may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement on the App and Website, and any such amendment shall be effective upon such posting to the App and Website (or as soon thereafter as permitted by applicable law). This Agreement is available on the App and Website. You will be notified of any material 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 or your benefit, Bank may implement it immediately and without prior notice. When we change this Agreement, the then-current version of the Agreement governs your Account and supersedes all prior versions. Bank or Program Manager may cancel or suspend your Account or this Agreement at any time. You may cancel this Agreement by contacting Customer Service to close your Account. Accounts may only be closed as set forth in this Agreement, including Section 2.M. Your cancellation of this Agreement will not affect any of Bank’s rights or your obligations arising under this Agreement prior to cancellation.
IMPORTANT: IF YOU TERMINATE YOUR RELATIONSHIP WITH BANK OR PROGRAM MANAGER OR WITHDRAW YOUR CONSENT TO RECEIVE ELECTRONIC COMMUNICATIONS ABOUT YOUR ACCOUNT, WE MAY CLOSE THE ACCOUNT. UPON CLOSURE, ANY REMAINING FUNDS IN THE ACCOUNT WILL BE RETURNED AS SET FORTH IN THIS AGREEMENT.
You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this Agreement, the laws of the State of Missouri, without regard to principles of conflict of laws, will govern this Agreement and any claim or dispute that has arisen or may arise between you and Bank (or Program Manager) related to your Account, regardless of your location. Disputes not involving this Account are not governed by this agreement.
PLEASE READ THIS SECTION CAREFULLY. EXCEPT AS THE AGREEMENT OTHERWISE PROVIDES, THIS AGREEMENT REQUIRES ALL DISPUTES BE RESOLVED BY WAY OF BINDING ARBITRATION AND YOU AND WE WAIVE OUR RIGHTS TO TRY ANY CLAIM IN COURT BEFORE A JUDGE OR JURY AND TO BRING OR PARTICIPATE IN ANY CLASS, PRIVATE ATTORNEY GENERAL OR OTHER REPRESENTATIVE ACTION.
Arbitration Agreement:
Bank, Program Manager, and you agree to arbitrate all past, present or future disputes and claims between you, on the one hand, and Bank and/or Program Manager, on the other hand, arising out of or relating to (1) the Agreement, your Account, and any aspect of any relationship between you and Bank and/or Program Manager that is governed by this Agreement, including, without limitation, use of any application or website maintained or operated by Bank, Program Manager, or any of their service providers; or (2) the breach, enforcement, interpretation, application, or validity of the Agreement or the Arbitration Agreement, and such dispute or claims will be resolved exclusively by final and binding arbitration, except as otherwise set forth in this Agreement. Claims subject to this Arbitration Agreement include, without limitation: (1) claims that pre-date this Agreement (such as claims relating to advertising or use of any application or website maintained or operated by Bank, Program Manager, or any of their service providers) or that arise after termination of this Agreement; (2) initial claims, counterclaims, cross-claims and third-party claims; (3) disputes based upon contract, negligence, fraud and other intentional torts, constitution, statute, regulation, ordinance, common law and equity; (4) data breach or privacy claims arising from or relating directly or indirectly to our disclosure of any non-public personal information about you; (5) disputes arising from or related to any transactions in connection with your Account; (6) disputes arising from or related to any advice, recommendations, solicitations, communications, disclosures, promotions or advertisements concerning your Account; (7) disputes concerning any fees or charges relating to your Account or this Agreement, any products or services relating to your Account, and communication methods and practices that are used to service your Account. Solely for purposes of this Arbitration Agreement, the terms “Bank” and “Program Manager” include each of their subsidiaries, affiliates, successors and assigns, and any of their employees, officers, directors and agents. This Arbitration Agreement is also intended to benefit any other third party (including, without limitation, any service provider) that you name along with Bank and/or Program Manager as defendants in a single proceeding, and such third party shall have the same right to enforce this Arbitration Agreement as Bank and Program Manager.
Notwithstanding the foregoing, in lieu of arbitration, either you, Bank, or Program Manager can bring an individual claim in small claims court (or an equivalent court) consistent with any applicable jurisdictional and monetary limits that may apply, provided that it is brought and maintained as an individual claim. (However, if the dispute is transferred, removed, or appealed from small claims court to a different court, Bank or Program Manager can compel arbitration). After an arbitration is filed, either you, Bank, or Program Manager can send a written notice to the other party and the American Arbitration Association (“AAA”) that you, Bank, or Program Manager want the case decided by a small claims court.
YOU, ON THE ONE HAND, AND BANK AND PROGRAM MANAGER, ON THE OTHER HAND, ACKNOWLEDGE AND AGREE THAT IN ARBITRATION EACH PARTY IS WAIVING THE RIGHT TO A TRIAL BY JURY. THE PARTIES FURTHER AGREE THAT ANY ARBITRATION SHALL BE CONDUCTED IN THEIR INDIVIDUAL CAPACITIES AND NOT AS A CLASS ACTION, PRIVATE ATTORNEY GENERAL ACTION OR OTHER REPRESENTATIVE ACTION, AND THE PARTIES EXPRESSLY WAIVE THEIR RIGHT TO FILE A CLASS ACTION, PRIVATE ATTORNEY GENERAL ACTION OR SEEK RELIEF ON A CLASS OR OTHER REPRESENTATIVE BASIS. IN ADDITION, UNLESS ALL PARTIES OTHERWISE AGREE IN WRITING, CLAIMS BROUGHT BY OR AGAINST YOU, BANK OR PROGRAM MANAGER MAY NOT BE JOINED OR CONSOLIDATED WITH CLAIMS BROUGHT BY OR AGAINST ANY OTHER PERSON. Except as set forth in the procedures in subsection (d) below, You, Bank, and Program Manager may not be plaintiffs or class members in any purported class, private attorney general or representative proceeding, and may each bring claims against the other only in your or its individual capacity. The arbitrator may award declaratory or injunctive relief only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual claim.
EXCEPT AS THIS AGREEMENT OTHERWISE PROVIDES, BANK, PROGRAM MANAGER, AND YOU AGREE THAT IN THE EVENT THAT MASS ARBITRATION IS ATTEMPTED OR SOUGHT, SUCH ARBITRATION SHALL BE ADMINISTERED PURSUANT TO THE FOLLOWING RULES. (1) For purposes of this Agreement, “Mass Arbitration” means 25 or more arbitration demands that: (i) are filed within 180 days of each other, (ii) allege similar or identical claims or causes of action, and (iii) either (a) the parties to those arbitration demands seek to simultaneously or collectively administer and/or arbitrate together, or (b) are filed by the same counsel or in coordination with each other. (2) In the event that Mass Arbitration is attempted or sought involving 250 arbitration demands or less, Bank, Program Manager, and you agree the arbitration provider shall: (i) group the arbitration demands into batches of no less than 25 arbitration demands per group; and (ii) provide for resolution of each group or batch as a single arbitration with one set of filing and administrative fees and a single arbitrator assigned per group or batch. In the event that Mass Arbitration is attempted or sought involving over 250 arbitration demands, Bank, Program Manager, and you agree that the arbitration provider shall: (i) group the arbitration demands into batches of no less than 250 arbitration demands per group; and (ii) provide for resolution of each group or batch as a single arbitration with one set of filing and administrative fees and a single arbitrator assigned per group or batch. All Mass Arbitration shall be subject to all other substantive and procedural terms contained within this Agreement. (3) Bank, Program Manager, and you agree to cooperate in good faith with the arbitration provider to implement the aforementioned protocol for Mass Arbitration with regard to resolution, fees, and administration. (4) If any part of this paragraph (d) is found to be unenforceable, the unenforceable portion shall be stricken, and the remainder of this paragraph (d) and this agreement shall be enforced to the maximum extent permitted by law. (5) If the arbitration provider is unwilling or unable to follow the procedures set forth in this paragraph (d) with regard to Mass Arbitration, the parties may attempt to retain a different, mutually agreeable, and widely-recognized arbitration organization that will agree to follow the procedures set forth in this paragraph (d). In the event that the parties are unable to retain or agree to such an alternative arbitration provider, the alternative dispute resolution provisions set forth in this Agreement shall not apply to those demands within the Mass Arbitration.
The Arbitration Agreement evidences a transaction in interstate commerce and thus the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (FAA), will govern the interpretation and enforcement of this section. If the FAA is found not to apply to any issue that arises under this section or the enforcement of the Arbitration Agreement, then that issue shall be resolved under the law of Missouri.
The arbitration will be conducted under the then current Consumer Arbitration Rules (“AAA Rules”) of the AAA, including the Supplementary Rules for Multiple Case Filings, as modified by this Agreement, and will be administered by the AAA. The AAA Rules are available online at www.adr.org or by calling the AAA at 1-800-778-7879. If the AAA cannot or will not serve and the parties are unable to select an administrator by mutual consent, the administrator will be selected by a court having jurisdiction, provided that no arbitration may be administered by any administrator that has in place a formal or informal policy that is inconsistent with the Class Action Waiver. The arbitrator must be a retired or former judge or a lawyer with at least 10 years of experience practicing law. The arbitrator, and not any federal, state or local court or agency, shall have exclusive authority to resolve any dispute about the interpretation, validity, applicability, or enforceability of this Arbitration Agreement.
The arbitrator will conduct hearings, if any, by teleconference or videoconference, rather than by personal appearances, unless the arbitrator determines upon request by you or by Bank that an in-person hearing is appropriate. Any in-person appearances will be held at a location which is reasonably convenient to both parties with due consideration of their ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, such determination should be made by the AAA or by the arbitrator. Notwithstanding any of the foregoing, nothing in this Agreement will preclude you from bringing issues to the attention of federal, state or local agencies and, if the law allows, they can seek relief against Bank for you.
IF YOU DO NOT AGREE TO THE TERMS OF THIS ARBITRATION PROVISION, YOU MAY DECLINE THE ARBITRATION PROVISION BY SENDING WITHIN 60 DAYS OF ACCOUNT OPENING A NOTICE IN WRITING TO GENERAL COUNSEL, VetraFi 300 3rd Street, Suite 918, San Francisco, CA 94107. Your decision to opt out will not affect any other provision of this Agreement. If the Agreement, including any Arbitration Agreement, has already been delivered or otherwise made available to you, amendments to the Agreement will not give you a new right to opt out of the Arbitration Agreement, unless Bank amends a substantive clause of the Arbitration Provision. If you opted out of previous versions of this Arbitration Agreement, that opt out remains in effect.
A party who intends to seek arbitration (the “Claimant”) shall give the other party (the “Potential Defendant”) written notice of the claim (a “Claim Notice”) and a reasonable opportunity to resolve the claim. The Claim Notice must describe the nature and basis of the claim or dispute and set forth the specific relief you seek from Bank and/or Program Manager. It must also provide your name and account number, as well as your address and email address and a phone number where you can be reached during normal business hours. The Claim Notice must be sent by U.S. Mail. Any Claim Notice to you shall be sent in writing to the current address we have for you in our records. If there are multiple parties on the account, we may send the Claim Notice to any of you. The Notice to Bank should be addressed to: First Bank of the Lake, ATTN: Law Department. Notice to Program Manager should be addressed to: VetraFi 300 3rd Street, Suite 918, San Francisco, CA 94107. (“Notice Addresses”). You may only submit a Claim Notice on your own behalf and not on behalf of any other party. No third party, other than a lawyer you have personally retained, may submit a Claim Notice on your behalf.
The Potential Defendant shall have at least 30 days after receiving the Claim Notice to attempt to resolve the claim except for claims requiring some form of expedited injunctive relief in a shorter period. The Claimant must reasonably cooperate in providing any information about the claim that the Potential Defendant reasonably requests. Further the Claimant, on request, shall meet with the Potential Defendant (or an authorized representative thereof) either in person or by video or telephone conference to discuss possible compromise or other resolution of the claim. Any such meeting that you attend in person must take place in a venue reasonably convenient to you. The Claimant and the Potential Defendant may have a lawyer or other representative present for such meeting. Rule 408 of the Federal Rules of Civil Procedure shall govern the admissibility of all statements, conduct or other discussions between the Claimant and the Potential Defendant regarding the possible compromise or resolution of the Claim. On request, we will pay any reasonable, out-of-pocket expenses you incur in attending or participating in any such meeting.
ANY STATUTE OF LIMITATIONS APPLICABLE TO THE CLAIM DESCRIBED IN THE CLAIM NOTICE SHALL BE TOLLED DURING THE PERIOD BETWEEN THE DATE THAT THE CLAIM NOTICE IS MAILED AND THE LATER OF: (1) 60 DAYS AFTER THE CLAIM NOTICE IS RECEIVED, OR (2) 30 DAYS AFTER EITHER CLAIMANT OR POTENTIAL DEFENDANT INFORMS THE OTHER THAT GOOD FAITH EFFORTS TO RESOLVE THE CLAIM INFORMALLY HAVE CEASED (THE “TOLLING PERIOD”). UNLESS PROHIBITED BY APPLICABLE LAW, (1) AN ARBITRATION PROCEEDING MAY NOT BE COMMENCED UNLESS THE CLAIMANT HAS COMPLIED WITH THIS NOTICE AND CURE PROVISION, (2) THE COURT WILL HAVE AUTHORITY TO ENFORCE THIS NOTICE AND CURE PROVISION, INCLUDING THE POWER TO DISMISS OR STAY THE FILING OR PROSECUTION OF AN ARBITRATION UNLESS THE CLAIMANT HAS COMPLIED WITH THIS NOTICE AND CURE PROVISION, AND (3) THE ARBITRATION ADMINISTRATOR IS WITHOUT AUTHORITY TO ACCEPT OR ADMINISTER ANY ARBITRATION PROCEEDING PRIOR TO THE TERMINATION OF THE TOLLING PERIOD UNLESS THE CLAIMANT HAS COMPLIED WITH THIS NOTICE AND CURE PROVISION. ANY SUBSEQUENT ARBITRATION SHALL BE GOVERNED BY THE TERMS OF THIS ARBITRATION AGREEMENT.
A form to initiate arbitration proceedings is available on the AAA site at www.adr.org. In addition to filing this form with the AAA, the party initiating the arbitration must mail a copy of the completed form to the opposing party/parties. You may send such copy to Bank and Program Manager to the Notice Address(es). Bank and Program Manager will send such copy to the current billing address on your Account or to your attorney, if you have retained one.
Payment of all filing, administration and arbitrator fees (collectively, the “Arbitration Fees”) will be governed by the AAA Rules or rules of the other administrator. However, for any arbitrated claim of yours for an amount less than $25,000: (a) Bank and/or Program Manager (depending on whether one or both parties are involved) will pay or reimburse your share of the Arbitration Fees if you make a written request for us to pay such fees that is on your behalf individually and not on behalf of any other person, if you attempted in good faith but were unable to obtain a waiver of fees from the AAA or other administrator, and if your request is reasonable, If the arbitrator determines that any party’s claim or defense is frivolous or wrongfully intended to oppress or harass the other party, the arbitrator may award sanctions in the form of fees and expenses reasonably incurred by the other party if such sanctions could be imposed under Rule 11 of the Federal Rules of Civil Procedure. The parties shall bear the fees and expenses of their own attorneys, experts and witnesses unless otherwise required by applicable law, this Agreement or the administrator’s rules.
If your claim is for $10,000 or less, we agree that you may choose whether the final arbitration hearing will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, or by an in-person hearing in the county of your residence, or as otherwise mutually agreed by the parties. If your claim exceeds $10,000, the right to a hearing will be determined by the AAA Rules.
The arbitrator must apply applicable substantive law consistent with the FAA and applicable statutes of limitations and claims of privilege recognized at law. The arbitrator may award any remedy provided by the substantive law that would apply if an individual court action were pending in court, including, without limitation, punitive damages (which shall be governed by the Constitutional standards employed by the courts) and injunctive, equitable and declaratory relief (but only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual claim). Any finding, award or judgment from an arbitration of any claim shall apply only to that arbitration. No finding, award or judgment from any other arbitration shall impact the arbitration of any claim. The arbitrator’s award shall be written, and final and binding on the parties, except to the extent that the FAA permits court review of the award, and may be entered as a judgment in any court of competent jurisdiction.
In the event of any conflict or inconsistency between this Arbitration Agreement on the one hand, and the administrator’s rules or the other provisions of this Agreement, on the other hand, this Arbitration Agreement shall govern. This Arbitration Agreement shall survive the cancellation, suspension, closure or termination of the Account, any legal proceeding, any breach or default, any transfer of this Agreement or our rights under this Agreement, any termination, amendment, expiration or performance of any transaction between you and us and any bankruptcy to the extent consistent with applicable law. This Arbitration Agreement may be amended, provided, however, that any such amendment will not apply to any arbitration that was commenced or demanded prior to the amendment. If any portion of this Arbitration Agreement is held to be invalid or unenforceable, the remaining portions shall nevertheless remain in force, subject to two exceptions: (1) if there is a determination that the Class Action Waiver is unenforceable for any reason as to any claim, and that determination is not reversed on appeal, then the Arbitration Agreement (except for this sentence) will be inapplicable to that claim, and that claim will instead proceed through litigation in court rather than by arbitration. Any claims not subject to individual arbitration under applicable law shall be stayed in a court of competent jurisdiction pending completion of the individual arbitration; and (2) if a court determines that a public injunctive relief claim may proceed notwithstanding the Class Action Waiver, and that determination is not reversed on appeal, then the public injunctive relief claim will be decided by a court, any individual claims will be arbitrated, and the parties will ask the court to stay the public injunctive relief claim until the other claims have been finally concluded.
As to any proceeding in court, you, Bank, and Program Manager waive the right to a jury trial, unless such waiver is unenforceable under applicable law.
