Eli's Terms of Service

BankingOn, Inc.

Last updated: July 27, 2020

BankingOn, Inc. (“BankingOn”, “we”, “us”, “our”, etc.) operates an online cash management and account optimization tool available through Eli (the “Application” or “Eli”). These Terms of Service (“Terms” or “Agreement”) govern your access to and use of the Application, any related websites, and all content and services thereon (collectively, the “Service(s)”). These Terms constitute a binding agreement between BankingOn and you (“you”, “your”, and “User”, etc.) individually. Before using the Services, you must read and accept all of the Terms. By accepting this Agreement as you access our Services, you agree that the Terms will apply whenever you use the Services. If you do not accept and agree to these Terms, you are not permitted to use the Services.

BankingOn reserves the right, in its sole and absolute discretion, to amend, supplement, or otherwise modify these Terms from time to time. Modified Terms will take effect immediately upon posting to the Application. Your continued use of the Services after modified Terms have been so posted shall constitute your acceptance of such modified Terms.

1. Overview

The Service is a tool to enable cash transfers as if you had manually instructed your financial institution to complete such transfers. Based on your instructions and account information provided to us, the Service gathers, stores, processes, and analyzes information about you and deposit accounts you hold at various third-party financial institutions (“Bank Account(s)”), and then, on your behalf, periodically issues funds transfers as if you had instructed such individual transfers yourself. You assume all risk when using the Services, and you acknowledge that BankingOn cannot guarantee and does not promise any specific results from your use of the Services. You must register for an account (“Account”) by creating a username and password in order to utilize the Services.

2. Limitation

The Services are not intended to be or to provide, and must not be taken to be or to provide, financial advice from BankingOn, nor does your use of the Services create a fiduciary relationship with BankingOn. By using the Application, you understand and affirmatively acknowledge that BankingOn is not a bank or affiliated with any bank or financial institution. We are not responsible for ensuring your Bank Account has sufficient funds for your designated transactions. You understand and agree that you will not receive any interest or other earnings on your funds in your Account. You irrevocably transfer and assign to BankingOn any and all rights that you may have to any interest that may accrue on funds transferred and held in your Account.

3. Appointment as Agent

In order for BankingOn to provide you with the Services, you must authorize BankingOn to take certain actions on your behalf. These Terms include your authorization for such actions, including among others, debits and credits to and from your bank account via the automated clearinghouse, commonly referred to as ACH. By using the Services and providing Personal Information (as defined in our BankingOn’s Privacy Policy) to us, you automatically authorize us to obtain, directly or indirectly through our third-party service providers and without any time limit or the requirement to pay any fees, information about you and your Bank Account from the financial institution holding your Bank Account and other third-party websites and databases as necessary to provide the Services to you. Your use of the Services shall specifically constitute acceptance of the Terms of Service and Privacy Policy of the third-party financial institution that holds the funds your transfer through the Services, Evolve Bank & Trust, Member FDIC. By using our Services, you authorize the Application to hold your deposits for your benefit at Evolve Bank & Trust, Member FDIC, in an account (“FBO Account”). For purposes of applicable FDIC deposit insurance limitations, please note that deposits in your Evolve Bank & Trust FBO Account may not be separately insured from any other deposit accounts you may have with Evolve Bank & Trust. For purposes of such authorization, you hereby grant BankingOn and our third-party service providers a limited power of attorney, and you hereby appoint us and our third-party service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place, and stead, in any and all capacities, to access third-party websites, servers, and documents; retrieve information; and use your Personal Information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN BANKINGON OR OUR THIRD-PARTY SERVICE PROVIDERS ACCESS AND RETRIEVE INFORMATION FROM SUCH THIRD-PARTY WEBSITES, BANKINGON AND OUR THIRD-PARTY SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement. As between BankingOn and our third-party service providers, BankingOn owns your confidential Personal Information. BankingOn will be authorized to act as your agent solely for the purpose of providing the Services outlined in these Terms. Your appointment of BankingOn as your agent will end if this Agreement is terminated.

4. Authorization for Transactions

By using the Services, you are authorizing us to process individual and recurring debits to your Bank Account that are initiated by you, as well as recurring debits to your Bank Account initiated automatically by Eli on your behalf.

When you initiate a single or recurring debit from your Bank Account, you expressly authorize Eli to debit your Bank Account on the date and for the amount you have indicated. You agree that you will not dispute any transaction so long as such transaction corresponds to the terms of your authorization.

When you activate the Smart Savings function, you authorize Eli to initiate debits on a daily basis, the amount of which shall be determined by Eli to be between one (1) and fourteen (14) dollars each, based on Eli’s analysis of your account activity and balances. Please note that transactions can take 2-5 business days to show on your bank statement. This authorization will remain in effect unless we receive written notice of cancellation. You may cancel this recurring authorization at any time. But we must be notified at least three (3) business days before the debit is scheduled to occur, to prevent the upcoming transaction from processing.

We will provide you with written notice of transactions we make on your behalf. You may also open a live chat with one of our associates through the Application or call us at 855-7717141 to determine the status of any pre-authorized or automatic transaction.

5. Eligibility; Availability

You must not use the Services if you are not able to form legally binding contracts, are less than eighteen (18) years of age, or are suspended from using the Services. You must have a valid US mailing address and have a Bank Account with a U.S. financial institution to use the Service. All Accounts are associated with individual Users, who must not share Account credentials with others. The individual User associated with each Account shall be held responsible for all actions taken by or through the Account. You may only create one Account for your personal use of the Services. We may, at our absolute discretion, refuse to register any person or entity as a User. Your Account, including any rights or obligations you have under this Agreement, is yours alone, and cannot be transferred or assigned to any third party without our prior written consent.

You represent and warrant that all Personal Information you provide us from time to time is truthful, accurate, current, and complete, and you agree not to misrepresent your identity or your Personal Information. You agree to promptly notify us of changes to your Personal Information by updating your Account through the Services; provided, however, that you must notify us at least three Business Days before any changes to your Bank Account information, including without limitation the closure of your Bank Account for any reason by emailing [EMAIL] or by updating your Account through the Services.

For our compliance purposes and in order to provide the Services to you, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information. When you register for the Services and from time to time thereafter, we may require you to provide or confirm information and documentation that will allow us to identify you, such as:

6. Consent to Electronic Communication

To the extent permitted by applicable law, you consent to use electronic signatures and to electronically receive all records, notices, statements, communications, and other items for all Services provided to you under these Terms and in connection with your relationship with us (collectively, "Communications") that we may otherwise be required to send or provide you in paper form (e.g., by mail). By accepting and agreeing to these Terms electronically, you represent that: (i) you have read and understand this consent to use electronic signatures and to receive Communications electronically; and (ii) your consent will remain in effect until you withdraw your consent as specified herein. You may withdraw your consent to receive further Communications electronically at any time by contacting us at  [email protected] If you withdraw your consent to receive Communications electronically, we may choose to close your Account and, if so, will return the balance in your Account to your Bank Account as set forth in these Terms. Any withdrawal of your consent to receive Communications electronically will be effective only after we have a reasonable period of time to process your withdrawal. Please note that withdrawal of your consent to receive Communications electronically will not apply to Communications electronically provided by us to you before the withdrawal of your consent becomes effective. In order to ensure that we are able to provide Communications to you electronically, you must notify us of any change in your email address and your mobile device number or other text message address by updating your profile through the Services.

7. Links to Other Websites

The Services may contain links to other websites. BankingOn is not responsible for the content, accuracy, or opinions on such websites, and such websites are not investigated, monitored, or checked for accuracy or completeness by us. No such website is approved or endorsed by BankingOn. If you access these third-party websites, you do so at your own risk and should review such third-parties’ policies for your better understanding.

8. Restricted Activities

We grant you no rights to our intellectual property or the intellectual property of our affiliates, except as expressly stated herein. We and our third-party affiliates retain all right, title, and interest in and to the Services, and any associated patents, trademarks, copyrights, trade secrets, or other intellectual property rights. While using the Services, you must not:

  1. violate any local, state, or federal laws or regulations, or any policies that are posted on the Service;
  2. infringe any third party’s intellectual property rights, privacy rights, publicity rights, or other rights;
  3. take any action that may undermine the BankingOn feedback or reputation systems, if any (such as displaying, importing, or exporting feedback information or using it for purposes unrelated to the Service);
  4. circumvent or manipulate our fee structure, the billing process, or fees owed to BankingOn;
  5. transfer, sell, rent, or otherwise offer third-party access to your Account or the Services;
  6. access or use another User’s account without their express consent;
  7. distribute viruses, harmful code, phishing scams, or any other content or technologies, or otherwise take any other actions that do or are intended to harm BankingOn, the Services, any Users or third parties, or their interests or property (including their intellectual property rights, privacy rights, and publicity rights);
  8. “frame,” “mirror,” or otherwise incorporate any part of the Service into any other website, app, or system;
  9. harvest or otherwise collect information of any type about Users whether for your own use of that of any third party, without the Users’ and BankingOn’s consent;
  10. modify, translate, adapt, edit, decompile, disassemble, or reverse engineer any software programs used by us in connection with the Services;
  11. copy, modify, or distribute content from the Services or otherwise infringe BankingOn’s or any other Users’ intellectual property rights;
  12. use any robot, spider, scraper, or other automated means to access the Services;
  13. take any action that imposes or may impose (in our sole discretion) an unreasonable or disproportionately large load on our infrastructure;
  14. interfere with, damage, manipulate, disrupt, disable, modify, overburden, or impair any device, software system, or network connected to or used (by you or us) in relation to the Services or your Account; or
  15. interfere or attempt to interfere with the proper working of the Services or any activities conducted on the Services.

9. Subscription Fees; Promotions

BankingOn offers the Services for a fee on a monthly basis, although free trial periods may be offered from time to time. BankingOn may also choose to offer promotional events (for example, temporary discounts) or new services, and such changes are effective when we post a temporary promotional event or new service on the Services, or as notified through promotional correspondence. You agree that BankingOn, following the expiration of any applicable promotion for which you were eligible and registered, will charge your Account for the subscription fee (“Subscription Fee”) on a monthly basis until you cancel your Account or your Account is terminated for some other reason. Eli will notify you of any change to the Subscription Fees in these Terms. Subscription Fees are non-refundable.

10. Feedback, Reputation and Reviews

You do and shall assign and transfer to us all intellectual property rights in and to all feedback, reputation information, reviews, or images you post on the Services consisting of comments and any ratings together with any composite rating by us. You acknowledge that such feedback, reputation, and reviews belong solely to us, notwithstanding that we permit you to use it on our Services while you remain a User. You must not use or deal in such feedback, reputation, and reviews in any way inconsistent with these Terms or our policies as posted on the Services from time to time. You may not do (or omit to do) anything that may undermine the integrity of the BankingOn feedback system. Our feedback ratings belong to us and may not be used for any purpose other than facilitating the provision of design and printing services via the Services.

11. Right to Refuse Service

We may close, suspend, or limit your access to your Account without reason or for any reason at all. Without limiting the foregoing, we may close, suspend, or limit your access to your Account or cancel or suspend any transaction:

  1. if we determine that you have breached or are threatening to breach this Agreement;
  2. if we determine that you have infringed any third party’s legal rights, including without limitation intellectual property rights;
  3. if we determine that you have engaged or are threatening to engage in fraudulent or illegal activities;
  4. you do not respond to or complete Account verification requests; or
  5. for other reasons we may select in our sole discretion.
Without limiting our other remedies, to the extent you have breached this Agreement, you must pay us all fees owed to us and reimburse us for all losses, costs, and reasonable expenses (including legal fees) related to investigating such breach and collecting such fees.

12. Disputes

If a dispute arises between you and BankingOn, our goal is to address your concerns promptly and to provide you with a means of resolving the dispute quickly. We strongly encourage you to contact us directly to seek a resolution by emailing us at [email protected] Furthermore, bank services are provided through our banking software provider, Synapse. To report a complaint relating to the bank services, email h[email protected] This Agreement will be governed in all respects by the laws of California, without regard to the internal law of California regarding conflicts of laws. Other than as provided herein, with respect to any suit, action, or proceeding relating hereto, each party hereby irrevocably submits to the exclusive jurisdiction of the courts of competent jurisdiction located in Alameda County, California, and waives any objection thereto. The prevailing party to any dispute shall be entitled to reimbursement of its fees and costs from the other party. EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION ARISING HEREUNDER.

Alternatively, for any claim, BankingOn, in its sole discretion, may elect to resolve the dispute in a cost effective manner through binding non-appearance-based arbitration. If BankingOn elects arbitration, such arbitration will be initiated through an established alternative dispute resolution (“ADR”) provider, which is to be mutually selected from a panel of ADR providers that BankingOn will provide to you. The ADR provider and the parties must comply with the following rules: (i) the arbitration shall be conducted by telephone, online, or be solely based on written submissions; (ii) the arbitration shall not involve any personal appearance by the parties or witnesses; and (iii) any judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction.

All claims you bring against BankingOn must be resolved in accordance with these Terms. All claims filed or brought contrary to this Agreement shall be considered improperly filed and a breach of these Terms. Should you file a claim contrary to these Terms, BankingOn may recover its legal fees and costs accrued in responding thereto (including without limitation in-house lawyer and paralegal fees), provided that BankingOn has notified you in writing of the improperly filed claim, and you have failed to promptly withdraw the claim.

You shall not pursue any claims arising under this Agreement on a class action or other representative basis, and will not seek to coordinate or consolidate any arbitration or action hereunder with any other proceeding.

If any proceeding by or against you is commenced under any provision of any bankruptcy or insolvency law, BankingOn will be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of this Agreement.

BankingOn’s failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.

13. Survival and Release

This Agreement, including any addenda hereto, supersedes any other agreement between you and BankingOn and contains the entire understanding of the parties relating to the subject matter hereof. As set forth above, however, the Privacy Policy shall supersede these Terms to the extent they differ.

If any part of this document is found to be unenforceable, that part will be limited to the minimum extent necessary so that this document will otherwise remain in full force and effect. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision. Any invalid or unenforceable provision shall be deemed severed from this Agreement to the extent of its invalidity or unenforceability, and this Agreement shall be construed and enforced as if the Agreement did not contain that particular provision to the extent of its invalidity or unenforceability.

Our failure to enforce any part of this document is not a waiver of any of our rights to later enforce that or any other part of this document. The waiver of any breach of any term, covenant, or condition herein contained, or our failure to seek redress for the violation of, or to insist upon the strict performance of any covenant or condition of this Agreement shall not be deemed to be a waiver of such term, covenant, or condition or any subsequent breach of the same.

We may assign to third parties any of our rights and obligations under this Agreement from time to time.

If there is a dispute between you or any other third party, BankingOn is under no obligation to become involved. In the event that you have a dispute with one or more Users or other third parties, you release BankingOn, its officers, employees, agents, and successors from claims, demands, and damages of every kind or nature, known or unknown, suspected or unsuspected, disclosed or undisclosed, arising out of or in any way related to such disputes and the Services. If you are a California resident, you shall and hereby do waive California Civil Code Section 1542, which says: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which, if known by him or her must have materially affected his or her settlement with the debtor.”

14. Closing Your Account

You may close your Account at any time. Account closure is subject to your paying any outstanding fees or amounts owing on the Account accrued prior to your closure. We may retain some of your personal information to satisfy regulatory requirements and our own external obligations. Closing your account does not necessarily delete or remove all of the information we hold.

15. Privacy

BankingOn is the sole owner of the personal information collected on its website, including without limitation any information that you give us by email or by direct contact with you. We use your information as described in the BankingOn Privacy Policy at https://synapsefi.com/privacy, which is incorporated herein and made a part hereof. If you object to your information being transferred or used in accordance with the Terms herein or the terms of the Privacy Policy, then you must not use our Services. For the avoidance of doubt, your name and some portion of your Personal Information, as relevant, shall be used for identification purposes in the normal course of conducting business. This may include use on statements, on your profile page, and any other relevant pages where you conduct business on the Service. Otherwise, we will not sell or share your Personal Information with any third party other than as necessary to provide you the Services. Synapse is our back-end software provider, and Synapse partners with financial institutions to provide FDIC insurance. Synapse’s API, and their relationship with financial institutions, enables us to offer banking services and products. By agreeing to the Application’s TOS and Privacy Policy, you also agree to Synapse’s terms and policies as set forth at https://synapsefi.com/tos

16. Indemnification

You shall indemnify, defend, and hold harmless BankingOn (and our officers, directors, agents, managers, members, subsidiaries, lawyers, insurers and employees) from and against any and all claims, liabilities, suits, losses, damages and expenses, including without limitation reasonable attorneys’ fees, due to any claim arising out of your breach of this Agreement or your infringement of any law or the rights of a third party in the course of using the Services.

17. Security

You must immediately notify us upon becoming aware of any unauthorized access or any other security breach to the Services or your Account and do everything possible to mitigate the unauthorized access or security breach (including preserving evidence and notifying appropriate authorities). Your Account is yours only, and you must not share your password with others. You are solely responsible for securing your password. We will not be liable for any loss or damage arising from unauthorized access of your Account resulting from your failure to secure your password. In the event of an unauthorized access or security breach of any type, notify us by telephone at 855-7717141 between the hours of 10 am Central and 4pm Central on Weekdays or in writing at BankingON, Inc. 5316W Highway 290, Ste 300 Austin TX 78735.

If you notify Eli within two business days after learning of the unauthorized transaction, your liability will not exceed the lesser of; (i) $50; or (ii) the amount of unauthorized transfers that occurred before providing us notice.

If you fail to notify us within two business days, your liability will not exceed the lesser of:

(i) $500; or
(ii) the sum of:
  (a) the lesser of:
   (x) $50; or
   (y) the amount of unauthorized transfers that occurred within the two business days; and
  (b) the amount of unauthorized transfers that occur between the close of two business days after learning of the unauthorized transaction and the date notice is provided to us.

If you find an unauthorized transaction on the periodic statement provided to you from the institutions that hold your Bank Accounts, you must also report such unauthorized transaction within 60 days of the day your statement was transmitted to you by that financial institution to avoid liability for any unauthorized transactions that occurred between the close of the 60 days following your discovery and your notice to Eli. Should your delay be caused by extenuating circumstances, we will work with you to extend these deadlines in a reasonable manner so as to lessen your liability. Nothing herein shall supersede any state law that might impose less liability on you.

18. No Warranty or Liability as to Services

Our Services and all content on it are provided on an ‘as is’, ‘with all faults’ and ‘as available’ basis and without warranties of any kind either express or implied. Without limiting the foregoing, and other than as may be expressly set forth herein to the contrary, we make no representation or warranty about:

  1. the Services;
  2. the accuracy, reliability, availability, timeliness, or content of the Services;
  3. whether the Services will be up-to-date, uninterrupted, secure, error-free, or non-misleading;
  4. whether defects in the Services will be corrected;
  5. whether any data, content, or material will be preserved or backed up or whether business continuity arrangements are in place with respect to the Services;
  6. the Services being free of errors or malicious code, being secure, being confidential, performing at any particular standard, or having any particular function.
To every extent permitted by law, we specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose, quality, suitability, and non-infringement.

19. Limitation of Liability

In no event shall we, our related entities, our affiliates, or staff be liable, whether in contract, warranty, tort (including negligence), or any other form of liability, for:

  1. any indirect, special, incidental, or consequential damages that may be incurred by you;
  2. any loss of income, business, or profits (whether direct or indirect) that may be incurred by you;
  3. any claim, damage, or loss that may be incurred by you as a result of any of your transactions involving the Services;
  4. any content or services provided by any third party.
The limitations on our liability to you above shall apply whether or not we, our related entities, our affiliates, or staff have been advised of the possibility of such losses or damages arising.

Notwithstanding the above provisions, nothing in this Agreement is intended to limit or exclude any liability on the part of us and our affiliates and related entities where and to the extent that applicable law prohibits such exclusion or limitation. Under any applicable law that would prohibit exclusion or limitation, BankingOn’s total aggregate liability, under or in relation to any warranty or condition implied by law, shall be limited to the aggregate sum total of fees paid to BankingOn by you in connection with your access to the Services.

In addition to the foregoing, to the extent permitted by law, BankingOn, its affiliates or its partners, shall not be liable to you (directly or indirectly) for any loss, claim, or damages of whatsoever kind or nature, whether direct, indirect, general, or special, arising out of or relating to the conduct of any User or anyone else in connection with the use of the Services.

20. Notices

Legal notices to you will be served to the email address you provide to BankingOn during the registration process. Notice will be deemed given 24 hours after email is sent, unless the sending party is notified that the email address is invalid or that the email has not been delivered. Alternatively, we may give you legal notice by mail to the address provided by you during the registration process. In such case, notice will be deemed given three days after the date of mailing. Any notices to BankingOn must be given by registered U.S. Mail to BankingON, Inc. 5316W Highway 290, Ste 300 Austin TX 78735.

21. Interpretation

Headings are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section.

22. Account Aggregation

Your use of the automated bank account feeds (“Account Aggregation Services”) in connection with opening your account/requesting your loan is subject to the following terms.

Provide Accurate Information. You agree to provide true, accurate, current and complete information about yourself and your accounts maintained at other websites, including financial institutions. You will not misrepresent your identity or your account information. You represent that you have all the rights to provide such information and license the Content, as defined below. You agree to keep your account information up to date.

License. You are licensing to Platform and its service providers, including Synapse, any information, data, passwords, materials or other content (collectively, “Content”) you provide through the Account Aggregation Services. You license the Content to Platform and its service providers to access, use and store the Content. Platform and its service provider may use, display, distribute and reproduce the information obtained via the Account Aggregation Services exclusively for the purposes of delivering Platform and banking services to you. You may revoke this license at any time by emailing [Platform customer support email].

Third-Party Accounts. By using the Account Aggregation Services, you authorize Platform and its service providers to access third-party sites designated by you, on your behalf, to retrieve information requested by you, and to register for accounts/request loans. For all purposes hereof, you grant Platform and its services providers a limited power of attorney, and you hereby appoint Platform and its service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, access third-party internet sites, servers or documents, retrieve information, and use your information exclusively for the purposes of delivering Platform and banking services to you. You understand that Platform and its service providers may access your third-party accounts any time and obtain access to the information in such third-party accounts at any time while you have an account with Platform.

23. Electronic Fund Transfer Disclosure Statement

The following disclosures are made in accordance with the federal law regarding electronic payments, deposits, transfers of funds and other electronic transfers to and from your account(s). There may be limitations on account activity that restrict your ability to make electronic fund transfers. Any such limits are disclosed in the appropriate agreements governing your account.

A. Definitions: Electronic Fund Transfer: Any transfer of funds, other than a transaction originated by check, draft or similar paper instrument, that is initiated through an electronic device or computer to instruct us to debit or credit an account. Electronic Fund Transfers include such electronic transactions as direct deposits or withdrawals of funds, transfers initiated via telephone, website or mobile application. Preauthorized Electronic Fund Transfer: An Electronic Fund Transfer that you have authorized in advance to recur at substantially regular intervals; for example, direct deposits into or withdrawal of funds out of your account.

B. Your Liability: Authorized Transfers: You are liable for all Electronic Fund Transfers that you authorize, whether directly or indirectly. Unauthorized Transfers: Tell us at once if you believe your account or PIN or Access Information (as defined below) is lost or stolen or has been or may be subject to unauthorized Electronic Fund Transfers. Support message us immediately to keep your possible losses to a minimum. You could lose all the money in your account(s). If you tell us within two (2) business days after learning of the loss or theft of your account access device, or after learning of any other unauthorized transfers from your account involving your account access device, you can lose no more than $50 if Electronic Fund Transfers are made without your permission. For these transactions, if you DO NOT tell us within two (2) business days after learning of the loss, theft or unauthorized use, and we can establish that we could have prevented the unauthorized transfer(s) if you had told us in time, you could lose as much as $500. Also, if your periodic account statement shows unauthorized transfers and you DO NOT tell us within sixty (60) days after the statement was delivered to you, you may not get back any money you lose after the sixty (60) day period if we can prove that we could have prevented the unauthorized transfer(s) if you had told us in time. If an extenuating circumstance (such as extended travel or hospitalization) prevents you from promptly notifying us of a suspected lost or stolen access device or of any other suspected unauthorized transfer(s), the time periods specified in this Section B may be extended for a reasonable period.

24. Errors or Questions about Transactions

Please contact us by emailing us at [email protected] (1) if you believe a transaction receipt or a statement is wrong, or (2) if you need more information about a transaction on the receipt or statement. For consumer accounts, we must hear from you no later than sixty (60) days after we sent you the first statement on which the error or problem appeared. For business accounts, we must hear from you within one (1) business day of us sending you a receipt. Your inquiry must include: (x) your name, email associated with your account, and your account number (if available); (y) a description of the error or the transaction you are unsure about, and a clear explanation of why you believe there is an error or why you need more information; and (z) the dollar amount of the suspected error. If you tell us orally, we may require that you send us your inquiry via email within ten (10) business days.

Time Periods Ten-Day Time Period: Eli will investigate promptly and, except as otherwise provided in this paragraph, shall determine whether an error occurred within 10 business days of receiving a notice of error. Eli shall report the results to the consumer in writing within three business days after completing its investigation. Eli shall correct the error within one business day after determining that an error occurred.

Forty Five-Day Time Period: If Eli is unable to complete its investigation within 10 business days, Eli may take up to 45 days from receipt of a notice of error to investigate and determine whether an error occurred, provided Eli does the following: (1) Provisionally credits the consumer's account in the amount of the alleged error (including interest where applicable) within 10 business days of receiving the error notice. Eli need not provisionally credit the consumer's account if: