VetraFi is a financial technology company, not an FDIC-insured bank. Banking services provided through our Banking Partner, Member FDIC.
Effective as of September 15, 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 SECTION 9 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 Secured Deposit Account Agreement (the “Agreement”) is revised periodically and may change from time to time. We may also refer to the Agreement as the “Secured Deposit Account Agreement” in the VetraFi mobile application (the “App” or “Mobile App”) or at vetrafi.com (the “Website”). You can determine when this Agreement was last revised by referring to the Effective Date.
This Agreement applies to the secured deposit account (the “Secured Deposit Account” or “Account”) you establish in connection with your VetraFi Secured Charge Card (the “Card”) and related secured charge card account (the “Card Account”). The Card and Card Account are governed by the VetraFi Secured Charge Card Agreement (the “Card Agreement”). The Account secures your obligations under the Card Agreement as described in this Agreement and the Card Agreement.
The Account is 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 Card, the Card Account, the Savings Account, and customer service provided to you directly or through service providers on Bank’s behalf.
By providing a written or electronic signature on a signature card, opening the Account, or continuing to hold or use the Account, you agree to the most recent version of this Agreement, which can be accessed through the App or Website. You also agree to the E-SIGN Consent Agreement and VetraFi Terms of Use, and you acknowledge receipt of the First Bank of the Lake’s Privacy Policy, First Bank of the Lake’s US Consumer Privacy Notice, and the VetraFi Privacy Policy, VetraFi’s US Consumer Privacy Notice and any other terms or disclosures provided to you in connection with the Program.
If there is a conflict or inconsistency between this Agreement and any other agreement or disclosure, this Agreement controls with respect to the Account, the Card Agreement controls with respect to the Card and Card Account, the Savings Account Agreement controls with respect to the Savings Account, and the E-SIGN Consent Agreement controls with respect to electronic delivery of disclosures and communications. Nothing in any agreement limits Bank’s rights to enforce the consensual security interest in the Account and Funds, except as required by applicable law.
“We”, “our”, and “us” means Bank, our successors, affiliates, assignees, agents, or service providers.
“You” and “your” means 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.
“Savings Account” means the VetraFi Savings Account established by Bank in your name.
The Card Account, Account, and any Savings Account opened in connection with the Program must be owned by the same individual. You may not transfer, assign, pledge, or grant any interest in the Account or any funds in the Account to any other person, except for Bank’s security interest described in this Agreement and the Card Agreement.
“Business Day” means any day 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 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. Messaging frequency may vary.
The Account is a non-interest-bearing deposit account that secures your obligations under the Card Agreement. The Account does not provide check writing capabilities, debit card access, ATM access, or point-of-sale access.
All funds deposited into the Account now or in the future, including any additions, substitutions, replacements, and proceeds of those funds (collectively, “Funds”), serve as security for your obligations under the Card Agreement. As provided in the Card Agreement, you grant Bank a first-priority security interest in the Account and the Funds. If you fail to make required payments on the Card Account or otherwise fail to comply with the Card Agreement, Bank may apply Funds to amounts you owe under the Card Agreement, subject to applicable law and the terms of this Agreement and the Card Agreement.
Your ability to withdraw or transfer Funds from the Account is limited to your Available Secured Deposit Balance. “Available Secured Deposit Balance” means the portion of the Account balance that Bank determines is not subject to any hold, restriction, reserve, pending transfer, legal process, security interest, minimum required security deposit, pending Card transaction, unpaid Card Account balance, accrued but unpaid fees or charges, or other amount that Bank determines is necessary to secure or satisfy your obligations under the Card Agreement.
Your Card Account Spending Limit and Available to Spend Amount are determined under the Card Agreement.
The Account and Card Account are 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, who can form a legally binding contract, have a valid Social Security number, and intend to use the Account and Card Account solely for personal, family, or household purposes and not for business or commercial purposes. You may not open more than one Secured Deposit 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 your 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 to electronic communications may also result in the closure, suspension, or restriction of your Card Account and Savings 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 Card Account and any Savings 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-policy/, and Bank's U.S. Consumer Privacy Notice is available at https://www.fblake.bank/privacy-notice/. Each are considered part of this Agreement. VetraFi’s privacy policy and U.S. Consumer Privacy Notice 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 following: First Bank of the Lake's Privacy Policy, First Bank of the Lake's U.S. Consumer Privacy Notice, VetraFi's Privacy Policy, and VetraFi's U.S. Consumer Privacy Notice.
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 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.
Your failure to comply with this Agreement, the Card Agreement, the Savings Account Agreement, or any other agreement governing the Program may result in the closure, suspension, freeze, or restriction of the Account, the Card Account, the Savings Account, or any combination of them, as permitted by applicable law and the applicable agreement.
Deposits to the Account may be made only in the form and manner that we permit in our sole discretion. 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, or other items by mail.
Permitted deposit methods may include ACH transfers to the Account that you initiate through the App from an external deposit account owned by you; direct deposits to the Account using your Account number and our routing number; internal transfers from your Savings Account; and any other deposit method we make available to you.
The name on any external account, direct deposit, or transfer to the Account must match the name on the Account. We may reject or return any deposit that is not in your name, that exceeds applicable limits, that we believe may violate applicable law or Bank policy, or that we otherwise determine not to accept in our sole discretion.
Funds deposited to the Account are available as described in the General Funds Availability Policy. Funds associated with the Account that are in transit, unsettled, subject to reversal, or subject to a hold will not be part of your Available Secured Deposit Balance unless and until they are finally collected and made available by Bank.
Neither Bank nor Program Manager is liable for any deposit, including cash, checks, money orders, or foreign currency, that is mailed, lost in transit, not received by Bank, rejected, returned, or destroyed in accordance with this Agreement.
If any deposit or transfer to the Account is returned, reversed, recalled, charged back, or otherwise not finally 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 to cover the negative balance.
If the Account is cancelled, closed, or terminated for any reason, deposits, direct deposits, ACH transfers, and internal transfers received after the Account closure date may be rejected and returned to the originator 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 for at least ninety (90) 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 in the table below.
Max Account Balance | $250,000 | ||
Balance Increase (Credit) | Occurrence | Dollar Limit | Frequency Limit |
ACH Transfer from External Deposit Account* | 30 Day Rolling | $10,000 | None |
Direct Deposit** | Per Deposit | $175,000 | None |
Balance Decrease (Debit) | Occurrence | Dollar Limit | Frequency Limit |
ACH Transfer to External Deposit Account* | 30 Day Rolling | $10,000 | None |
*External financial institutions and third-party money transfer services may impose their own terms, fees, and limits. The limits shown above apply only to transfers made available through the App or otherwise established by Bank or Program Manager for the Account. The name on any external account must match the name on the Account, any ACH Transfers received from an external account not in the name of the Account may be returned to the originator.
**Your Account number and Bank’s routing number may be used for direct deposits to the Account. The recipient’s name on any direct deposit must match the name on the Account. We may reject or return any direct deposit received in a name other than the Account owner’s name, except that, for tax refund deposits naming two individuals, we may accept the deposit if one name matches the Account owner’s name. If a direct deposit exceeds applicable limits, all or part of the deposit may be rejected or returned.
If you choose to use direct deposit, you may set it up directly with your employer using your Account information, which is available via the App.
Your Account number and Bank’s routing number may be used to receive direct deposits to the Account. They may be used to make payments to third-party merchants, billers, or other third parties as well. If we receive an ACH debit or other withdrawal request from a third-party merchant, biller, or other third party that is not permitted for the Account, we may reject or return it.
You may make manual payments from the Account to the Card Account. You may also authorize automatic recurring payments from the Account to the Card Account. Any automatic recurring payment authorization is optional. We will not require you to authorize repayment of the Card Account by preauthorized electronic fund transfer as a condition to opening or maintaining the Card Account. You may revoke any automatic recurring payment authorization as described in this Agreement and the authorization terms provided to you.
Early Access Direct Deposit Conditional Availability: First Bank of the Lake may sometimes credit funds upon receiving preliminary electronic payment data, not final settlement.
No Guarantee: Receipt timing depends on when the payer or employer sends the file; arrival varies by cycle.
Right to Reverse: First Bank of the Lake reserves the right to claw back or reverse funds if the underlying transaction fails or is rejected during final settlement.
FDIC insurance will be available only after First Bank of the Lake receives (settles) the funds, even if we make the funds available to the customer before final settlement.
You are not permitted to overdraw the Account. If the available balance in the Account is insufficient to cover any payment, withdrawal, 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 to cover the negative balance. Any deposit we receive for the Account may first be applied to any negative balance.
If your Account has a negative balance for an extended period of time and you have another account with us, we reserve the right to exercise the right to set off to satisfy the negative balance in your Account. See Section #2.F (Right to Set Off) below for details.
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 our monitoring of the Account, Card Account, Savings Account, or related activity detects activity that we believe may be fraudulent, illegal, unauthorized, suspicious, prohibited by our policies, or otherwise risky, we may hold, freeze, restrict, or deny access to funds in the Account pending review. We may also hold, freeze, restrict, or deny access to Funds to secure or satisfy obligations under the Card Agreement, including pending Card transactions, posted Card transactions, fees, charges, and other amounts owed. We may require you or other parties to provide documentation or information to verify the source of funds, account ownership, transaction activity, or the validity of any transaction.
If the Account is cancelled, closed or terminated for any reason (except for fraudulent or illegal activity, or due to valid legal process), you may request the unused balance be returned to you by ACH transfer to your linked Bank Account or by check sent to the mailing address we have in our records. For security purposes, you may be required to supply identification and address verification documentation prior to issuing a refund check. Allow up to thirty (30) days for processing and mailing of the refund check. If the refund check is not cashed within one hundred and eighty (180) days or the funds are not collected for any reason, the check will be voided and funds may be escheated. We reserve the right to refuse to return any unused balance amount less than $5.00. Such amount may be retained and treated as non-refundable. Specific information and instructions, including how to receive any remaining Account balance, will be in the notice.
Note: If the Account is cancelled, closed, or terminated for any reason, any direct deposits, ACH transfers, or cash deposits made via third party money transfer services received after the Account closure date will be rejected and returned to the originator. Access to other functionality will also be disabled.
If legal action such as a garnishment, levy, or other state or federal legal process (“Legal Process”) is brought against your Account, We may refuse to permit, or may limit, withdrawals or transfers from your Account until the Legal Process is satisfied or dismissed. To the extent permitted by applicable law, Bank’s security interest in the Account and Funds and Bank’s rights under this Agreement and the Card Agreement will have priority before funds are released in response to Legal Process. Bank will not contest on your behalf any Legal Process and may take action to comply with Legal Process as Bank determines 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 twelve (12) 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 twelve months or more), the Account will continue to be subject to any service charges in accordance with our Fee Schedule and may be closed. 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 our records. If we are unable to locate you, we may be required to deliver any funds in your Account to the applicable state as unclaimed property. After we deliver the funds over to the state, we have no further liability to you for the funds and you must apply to the appropriate state agency to reclaim your funds. The specified period of time to report and send funds in an inactive Account to a state varies by state.
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.
Because the Account and Funds secure your obligations under the Card Agreement, you may withdraw or transfer funds from the Account only to the extent of your Available Secured Deposit Balance and only by methods we make available. You may not withdraw or transfer funds that are subject to a hold, restriction, reserve, pending transfer, pending Card transaction, unpaid Card Account balance, minimum required security deposit, legal process, or other amount that Bank determines is necessary to secure or satisfy your obligations under the Card Agreement.
You may not make electronic fund transfers from the Account to accounts owned by third parties unless we expressly make that functionality available. At Bank’s sole discretion and subject to applicable law, Bank may require up to seven (7) days’ prior written notice before permitting a withdrawal or transfer from the Account.
You may not close the Account, and Bank may restrict withdrawals and transfers from the Account, until all obligations under the Card Agreement have been paid in full, all Card transactions have settled or otherwise been resolved, and the Card Account is closed or otherwise no longer requires the Account as security.
You may not use the Account for illegal transactions, fraudulent transactions, or transactions prohibited by our policies. You may not use the Account for marijuana-related transactions or to facilitate activity that is illegal under applicable federal or state law. You also may not use the Account for manual cash disbursement (travelers cheques, money orders, precious metals, savings bonds), quasi-cash merchant (non-financial institution such as cryptocurrency, money orders (not wire transfers), stored value card/load). We may refuse to process, reject, or return any transaction that we believe may violate this Agreement, our policies, or applicable law. We have 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.
You may not close the Account until all obligations under the Card Agreement have been paid in full, all Card transactions have settled or otherwise been resolved, and the Card Account is closed or otherwise no longer requires the Account as security. We may close, suspend, freeze, or restrict the Account at any time as permitted by this Agreement and applicable law.
If the Card Account and/or Account is closed, Bank may apply Funds to any amounts you owe under the Card Agreement and this Agreement. After all such amounts, holds, restrictions, reserves, pending transactions, fees, and charges have been satisfied or released, any remaining Funds will be returned to you by a method we determine, which may include transfer to an external account owned by you; check mailed to the address in our records; or another method we deem appropriate.
We may hold Funds for up to sixty (60) days after the Card Account balance is paid in full and the Card Account is closed to allow pending transactions, adjustments, disputes, returns, reversals, fees, or other obligations to be identified and resolved. If funds sent to you are returned as undeliverable or a check remains uncashed, we may hold the funds until you provide instructions acceptable to us or until we are required to remit the funds as unclaimed property under applicable 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 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.
Types of Electronic Funds Transfers Available
Limitations on Transfers, Amounts and Frequency of Transactions
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 1st 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.
Direct Deposits. If you have arranged to have direct deposits made to the Account at least once every sixty (60) days from the same person or company, you can view Account activity through the App to determine whether the deposit has been made. You may also contact Customer Service to verify whether the direct deposit has been received.
Transfers. You can view transfers to or from the 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.
You may arrange to receive preauthorized electronic deposits, such as payroll or government benefit deposits, to the Account.
You may authorize automatic recurring electronic payments from the Account to the Card Account. Any such authorization is optional and may be revoked by you. We will not require you to authorize repayment of the Card Account by preauthorized electronic fund transfer as a condition to opening or maintaining the Card Account.
If you authorize recurring electronic payments from the Account to the Card Account or recurring payments to a merchant that you authorize, you may stop any one of these payments by contacting Customer Service in time for us to receive your request three (3) Business Days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and provide it to us within fourteen (14) days after you call.
A stop-payment request will apply only to the preauthorized transfer identified in your request, unless you tell us to cancel all future preauthorized transfers under that authorization and we have a reasonable opportunity to act.
If you authorize recurring electronic payments and the amount of a scheduled payment may vary, the person you are going to pay is required to tell you, ten (10) days before each payment, when it will be made and how much it will be. You may be given the option to receive notice only when the payment amount differs by more than an agreed amount from the previous payment or falls outside agreed limits.
If you order us to stop one of these recurring electronic payments three (3) Business Days or more before the payment is scheduled to be made, and we do not stop it, we will be liable for your losses or damages as 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 the 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 a good reason, such as a long trip or hospital stay, kept you from telling us, we will extend the time periods to a reasonable period.
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: Phone: 1 (877) 269 4195 (International: 1 (557) 222 7420; Email: support@vetrafi.com
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 promptly update any direct deposit or permitted transfer instructions. Neither Bank nor Program Manager will be liable for any loss, delay, rejection, or misapplied transfer resulting from your failure to provide updated Account information to any third party.
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 via email to support@vetrafi.com or to 300 3rd Street, #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, 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 such 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.
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.
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; 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.fblake.bank/privacy-policy/ for further details.
Information contained in this Section 4 is provided to assist you in understanding our Funds Availability Policy. We make funds available according to the type of deposit and when the funds are 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 will not be part of your Available Secured Deposit Balance, may not be withdrawn or transferred, and may not be used to make payments or other debits during the hold period. We have the right to refuse any deposit.
If final payment is not received on any item deposited into the Account, or if any direct deposit, or ACH transfer credit is returned for any reason, you agree to pay us the amount of the returned item.
If funds are received through the Automated Clearing House (ACH), then any credit given by us for such funds will be provisional until the Bank receives final settlement through a Federal Reserve Bank or has otherwise received payment as provided under Section 400.4A-403 of Missouri’s Uniform Commercial Code. Notice to you of such ACH credits will be provided through the Mobile App or on your periodic statement. If the Bank does not receive final settlement or payment of an ACH credit, then we are entitled to recover from you the amount of the provisional credit and the person or entity making that ACH payment will not be considered to have paid that amount to you.
Availability
The length of delay in the availability of funds varies depending on the type of deposit.
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. Transfers between VetraFi Accounts received by 11:59pm ET, preauthorized electronic payments such as payroll direct deposits may become available earlier than the scheduled date, and other preauthorized electronic payments received by 3pm 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 next business day.
Funds received from preauthorized electronic credits, such as payroll direct deposits or government benefit deposits, will be available on the day the deposit is applied to the Account.
ACH credits received from an external bank account will be applied to the Account when we have verified the external account and received payment on collected funds. Once the funds are applied to the Account, they will have same day availability.
ACH transfers to the Account that you initiate through the App from an external deposit account may take up to four (4) Business Days from the date of the initial request to become available. We may make such funds available earlier, but any credit may be provisional until we receive final settlement. Additional holds may apply. When you request a transfer within the Mobile App from an external checking account, before completing the transfer we will check whether the external account is valid and has sufficient funds, and if it does not, the transfer will be declined.
Funds received by internal transfer from your Savings Account will generally be available on the day the transfer is applied to the Account. Additional holds may apply if the funds are subject to hold, restriction, reversal, chargeback, security interest, pending transaction, legal process, or other limitation.
The Account is non-interest-bearing. No interest will be paid to you on the Account, and the annual percentage yield for the Account is 0.00%.
Interest will not be compounded or credited to your account as no interest will be paid.
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.
The Account is not an interest-bearing account. No interest will be paid.
The Account is not an interest-bearing account. No interest will be paid.
The Account is not an interest-bearing account. No interest will be paid.
Refer to Section 6 for the Fee Schedule. The fees listed in this Fee Schedule are fees that we may charge for the associated services.
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. Fees for the Card Account are governed by the Card Agreement and are not Account fees unless expressly stated in this Agreement.
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 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.
The Account and Funds secure your obligations under the Card Agreement. This Agreement governs the Account. The Card Agreement governs the Card and Card Account. Together, this Agreement and the Card Agreement describe the collateral relationship between the Account and the Card Account.
If there is a conflict between this Agreement and the Card Agreement regarding the Account or Funds, this Agreement controls with respect to deposit-account terms, funds availability, deposit-account transfers, and deposit-account administration, and the Card Agreement controls with respect to Card Account obligations, Card transactions, billing, payments, disputes, credit reporting, default, and other credit-account terms. The security interest granted in the Account and Funds is intended to be enforceable under both agreements.
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.O. 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, #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, 4558 Osage Beach Parkway, Suite 100,Osage Beach, MO 65065. ATTN: Legal Department. Notice to Program Manager should be addressed to: VetraFi 300 3rd Street #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 a 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.
Important Disclosures
1. Banking Services. VetraFi is a financial technology company, not a bank. Banking services provided by First Bank of the Lake, Member FDIC.
2. FDIC Insurance. Deposits are held at First Bank of the Lake and are eligible for pass-through FDIC insurance up to $250,000 per depositor, per ownership category, if requirements for pass-through coverage are met. FDIC insurance applies only if the FDIC-insured bank fails.
3. Card Issuance. The VetraFi Shield Card is issued by First Bank of the Lake, pursuant to license from Mastercard International Incorporated. Cardholder terms and limitations apply. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
4. Account Fees. The fees applicable to your accounts are disclosed in the respective account agreement for the account. Each of the account agreements are available at www.vetrafi.com/legal.
5. Credit Limit and Approval. The Shield Card is a secured charge card. Your credit limit is based on the amount of eligible funds in your deposit account and may increase or decrease as that balance changes. Funds securing your credit obligations are not available for withdrawal or transfer. Terms and conditions apply. See VetraFi Secured Charge Card Agreement.
6. APY. APY means Annual Percentage Yield. APY is accurate as of 09/15/2026. Minimum deposit required to open a Savings Account is $0. Interest rates and APY are subject to change at any time without notice. Fees could reduce the earnings on Saving Account. Funds must be held in Savings Account to earn interest. Other terms apply. See VetraFi Savings Account Agreement for details.
7. Early Access to Direct Deposit. Early access to direct deposit is available for eligible account holders that set up a direct deposit with their employer or paying agency. Early access to direct deposit funds is subject to when First Bank of the Lake receives notice of payment from the payer, which is generally one to two days before the scheduled payment date. Early access to direct deposit funds is not guaranteed, may be stopped at any time, and may vary between pay periods. Direct Deposit is only available for the Secured Deposit Account. Terms and conditions apply.
8. ATM and Fee Policy. VetraFi does not maintain a fee-free ATM network. Your card can be used at any ATM where Mastercard is accepted. ATM operators may charge a fee for cash advances. VetraFi will reimburse up to $15 per month or 4 fees per statement cycle for eligible fees; limits and conditions apply.
9. Non-Advice. VetraFi does not provide financial, investment, tax, legal, or accounting advice. The content provided is for informational purposes only. You should consult your own financial, investment, tax, legal, and accounting advisors before engaging in any transaction.
10. ATM Limits. ATM cash advance limits apply. See Secured Charge Card Agreement for details.
11. Account Terms. This Shield Card Account is opened together with a separate Secured Deposit Account and a Savings Account. See agreements available at www.vetrafi.com/legal for full terms and conditions.
12. Autopay. Autopay enrollment authorizes automatic payments from your Secured Deposit Account to pay the Shield Card balance due. You remain responsible for ensuring sufficient funds are available in the Secured Deposit Account and for making any required payment if autopay is not completed.
13. Credit Inquiries. Opening a VetraFi account does not result in a credit inquiry. Your Shield Card credit limit is based on the amount of eligible funds in your deposit account, not on a review of your creditworthiness. To open an account we must verify your identity, which may include obtaining information from consumer reporting agencies. Account opening is subject to identity verification and approval. Terms and conditions apply.
14. Subject to Approval. Products and services offered through VetraFi are subject to approval. Terms and conditions apply. See agreements available at www.vetrafi.com/legal for full terms and conditions.
15. Mastercard Zero Liability. You will not be held responsible for unauthorized transactions, including purchases made in store, by phone, online, or via mobile device, and ATM transactions, provided you used reasonable care in protecting your card from loss or theft and promptly reported any loss or theft to us. Zero Liability does not apply to certain commercial cards or unregistered prepaid cards. More information can be found at mastercard.com.
16. Third-Party Trademarks. All third-party trademarks, service marks, and logos are the property of their respective owners and are used for informational purposes only; no endorsement is implied. APPLE and the Apple logo are trademarks of Apple Inc. GOOGLE PLAY and the Google Play logo are trademarks of Google LLC. Mastercard is a registered trademark of Mastercard International Incorporated. Plaid is a trademark of Plaid Inc.
17. Non-Endorsement. The appearance of U.S. Department of Defense visual information does not imply or constitute Department of Defense endorsement.
