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  • Writer's pictureZev Green

Terms of Service

Updated: Feb 16

Elroy

Terms of Service

Updated as of February 16, 2024



1. Introduction

Welcome to ElroySM from IDT Payment Services, Inc. and IDT Payment Services of New York, LLC (collectively, “IDT” or “we” or “us”).  This document sets out the terms and conditions for your use of the Elroy mobile application (the “App”) and our website www.elroy.app (the “Website”), as well as the products and services offered, operated or made available by us through the App (collectively, the “Services”).  Through the App we offer our customers certain mobile banking products and services, including a cash management account, a debit card (virtual or physical) and the ability to electronically transfer money to other people.  The Services are currently only available in the United States, but may become available in other jurisdictions at a later date.

IDT provides the App and the Services to you subject to the terms and conditions set out in this document, including the other agreements and documents referenced herein.  Please read this document carefully as it is a binding, legal agreement between you and IDT governing your use of the App and the Services.  

Your privacy is important to us.  IDT receives and/or collects information from you when you use the App and the Services.  This document contains provisions that discuss what information we receive and/or collect from you and how we use it.  This document also contains links to various applicable privacy policies which are applicable to you – see Section 5 below for more information.

This document contains (1) information about your legal rights and requires that disputes be resolved through arbitration instead of a court trial and (2) a limitation of liability provision.  See Sections 10.10 and 10.4 below for more information.


2. Acceptance of Agreement and Other Documents

2.1 Agreement.  The App, Website and Services are owned and operated by IDT, and are being provided to you expressly subject to this document (the “Agreement”).  By accessing, browsing and/or using the App, the Website or the Services, you confirm that you have read, understood, and have agreed to be bound by the terms of this Agreement and to comply with this Agreement and with all applicable laws and regulations.  If you do not agree with these terms, then you should not access or use the App, Website or the Services.  We recommend that you print a copy of these terms for future reference.

2.2 Other Parties and Documents.  IDT has contracted with certain service providers in order to provide the Services to you.  Certain Services are offered through Synapse Financial Technologies, Inc. and its affiliates Synapse Brokerage LLC and Synapse Credit LLC (collectively, “Synapse”) and certain third party financial service providers (each of the foregoing being a “Partner Financial Institution”).  Synapse is not a bank and is not affiliated with IDT.  Brokerage accounts and cash management programs are provided through Synapse Brokerage LLC (“Synapse Brokerage”), an SEC-registered broker-dealer and member of FINRA and SIPC.  Additional information about Synapse Brokerage can be found on FINRA’s BrokerCheck.  By participating in a Synapse cash management program, you acknowledge receipt of and accept Synapse’s Terms of Service, Privacy Policy, and the applicable disclosures and agreements available in Synapse’s Disclosure Library.  The Program Bank(s) participating in a Synapse cash management program can be found in the List of Program Banks.

By creating an account with IDT and initiating financial transactions, you agree to Synapse’s Terms of Service and Privacy Policy.  You also agree to the terms of service and privacy policy of Synapse’s Partner Financial Institution corresponding to the financial service and product(s) you select (collectively, “Synapse Terms”), each of which can be found here and which are incorporated herein by reference.  By creating an account with us, you acknowledge that Synapse may share your information as necessary with their affiliates, Partner Financial Institutions and other service providers in connection with providing their respective services.  It is your responsibility to make sure that the information you provide to IDT is accurate and complete.  Additionally, you are responsible for complying with the Synapse Terms when using your account.  It is your responsibility to read and understand the Synapse Terms as it contains terms and conditions relating to your account including but not limited to your rights, limitations, reversal and other liabilities, limitation of liability and binding arbitration provisions.  All financial transactions are performed by Synapse’s Partner Financial Institutions, a list of which can be found at synapsefi.com/legal.  IDT will provide you with access to all transaction notifications and account balances in addition to providing customer support relating to your account.  You should refer to your account agreement for more important information.

2.3 Incorporated Info, Terms and Documents.  The following information, terms and documents are incorporated into this Agreement and form a part of this Agreement:

  • IDT’s Privacy Statement, which can be found at https://www.elroy.app/privacy; and

  • any disclosures, limitations, terms and conditions for a Service that are posted on the Website or in the App, including any price or charge for any Service.

If there is any conflict between the terms of this Agreement and the information contained in any of the materials listed above in this Section 2.3, then the terms of this Agreement will control.


3. Changes to this Agreement; Termination

3.1 Changes to Agreement.  We reserve the right to amend this Agreement from time to time at our discretion, and the updated date will be listed at the top of this document.  Changes take effect immediately once they are posted in the App unless an immediate change is necessary for a legitimate business reason or to maintain the security of our network or as required by applicable law.  Please review the App periodically for changes.  Your continued use of the App, the Website or the Services after any change to this Agreement constitutes your agreement to be bound by any such changes.  If you do not agree to any change you may terminate your relationship with IDT as provided in Section 3.2.

3.2 Termination.  IDT may terminate this Agreement at any time without notice, or suspend or terminate your access and use of the App or the Services at any time, with or without cause, in IDT’s absolute discretion and without prior notice, including if you fail to comply with this Agreement or any incorporated document.  Upon termination of this Agreement, you shall cease all use of the App and Services.  You may terminate your relationship with IDT at any time and without recourse to the courts by ceasing to use the App and the Services, closing your account and canceling any recurring transactions.  Section 10 (General Provisions), Section 11 (Electronic Fund Transfer Disclosures) and any other provision of this document that by its terms survives termination of your use or access to the App or the Services shall survive termination of your use or access to the App or the Services.  IDT further reserves the right to modify or discontinue, either temporarily or permanently, any portions or all of the App, Services or Website at any time with or without prior notice.


4. Minimum Technology Requirements to Access Services

To access and use the App and Services, you must: 

  • have access to the internet and a mobile device running either Apple iOS 14.0 or higher, or Android 12.0 or higher;

  • have a valid, non-VoIP US mobile phone number and an email address with sufficient storage space on your mobile device;

  • install the App from the Apple App Store (for Apple devices) or the Google Play Store (for Android devices); and

  • create a user account with IDT, which includes setting up a profile ID by providing your phone number, email address, and creating a 4-digit passcode to access the App and the Services.


5. Registration, Personal Information and Privacy

5.1 Registration.  In order to use any of the Services you must register with IDT and create a user account with IDT, which includes setting up a profile ID by providing your phone number, email address, and creating a 4-digit passcode (collectively, your “Login ID”).  You agree to provide accurate, current and complete information when registering, and to update that information as soon as possible if it changes.  If you have reason to believe that any of your user information, including your Login ID, has been compromised, or that another person is accessing your user account through some other means, you agree to notify us as soon as possible at support@elroy.app.  You represent that you are a legal owner of and that you are authorized to provide us with all user information and other information necessary to facilitate your use of the App and Services.

5.2 Personal Information You Provide.  You agree and confirm that the personal information that you provide to us shall be accurate, current and complete in all respects.  You agree to update such information to keep it accurate, current and complete.  You give us permission to verify all information you provide, including your email address and phone number.  IDT reserves the right to suspend or terminate your use of the App and the Services if any information provided to us proves to be inaccurate, not current or incomplete.

5.3 Verification.  We may have to verify your identity and/or personal information for you to use the Services.  You hereby authorize IDT, directly or through third parties, to make any inquiries we consider necessary to validate your identity or authenticate your identity and personal information.  This may include asking you for further information or documentation about your identity, requiring you to take steps to confirm ownership of your email address, mobile phone number, or verifying your information against third party databases or through other sources.

5.4 Other Information You May Provide.  In addition to the information you provide us when you register with IDT and use the Services, you may also provide us with information related to your use of our Services for customer support purposes, surveys, promotions, or product feedback.  You may also provide information when you access and use the Website and certain tools on the Website.

5.5 Other Information We Collect.  We collect from you and your device certain technical data and related information, including information about your mobile device, system and application software that is gathered periodically to facilitate our provision of the App, Services, software updates and service support.  We collect service related diagnostic and performance information, including how you use the App, Website and the Services.  This includes information about your activity (such as how you use our Services, how you interact with others using our Services), log files, and diagnostic, crash, website, and performance logs and reports.  We collect device-specific information including model, browser, operating system, platform type, application software, mobile network, device identifiers and numbers, and Internet connection speed.  You may provide and we collect certain data on your device, including your contacts, the phone numbers in your mobile address book, favorite lists and other installed apps.  To help you organize how you communicate with others, we may upload your favorites list of your contacts, and you can create, join, or get added to groups and broadcast lists, and such groups and lists become associated with your account information.  We collect device location information if you use our location features, such as when you choose to share your location with your contacts, view locations nearby or those others have shared with you, and for diagnostics and troubleshooting purposes such as if you are having trouble with our App’s location features.  Certain of the Services, including money transfer, require your device’s location features to be turned on.

5.6 Advertising, Information and Scanning Content.  The App may display and/or notify you of information you requested, advertisements, promotions and other information.  This information and advertisements may be targeted to you and your content or other information stored in the App, or aggregated with other information that IDT may have about you.  In consideration for IDT granting you access to and use of the App, you agree that IDT may digitally scan content stored in the App, including without limitation, your user information and message content.  You further agree that IDT may use the scanned information to provide you with targeted information and advertising through the App.

5.7 How We Use Your Information.  We process your personal data to meet our legal, statutory and contractual obligations and to provide you with the App, Website and our Services.  More specifically, we process all the data we collect to help us operate, provide, improve, understand, customize, support, and market the App and our Services.  In addition, we process data for general, operational and administrative purposes, including maintaining your account, authenticating you and contacting you.  The terms “process,” “processing,” “use,” and “using” data include any operation or set of operations performed on personal data or on sets of personal data, including by automated means, such as collecting, recording, scanning, organizing, evaluating, analyzing, structuring, storing, adapting, altering, retrieving, consulting, using, combining, erasing or disclosing by transmission, dissemination or otherwise making available to our affiliates and to select third parties (as described our Privacy Statement).  Sometimes we use automated means, including profiling, and other technologies to process your personal data.  Profiling means any form of automated processing of personal data consisting of the use of personal data to evaluate certain personal aspects relating to a natural person, including to analyze or predict aspects concerning that natural person's personal preferences, interests and location.  In addition, you share your information as you use and communicate through the App and our Services.  When we share information with third-parties we require them to use the data only in accordance with our instructions, to protect your data and to limit their use of the data solely for the purposes for which it was provided.  Moreover, we require that these processors comply fully with relevant data protection laws and any other appropriate confidentiality and security measures.  You should also note that our communications with you, including phone conversations and emails, may be monitored and recorded by us for quality assurance or for legal, regulatory or training purposes.

5.8 Privacy Statement.  Any personal data collected shall be subject to the terms of our Privacy Statement, which can be found at the link listed in Section 2.3 above.


6. Mobile Banking Services

6.1 Overview.  IDT offers a suite of mobile banking Services and features through the App, including the ability to open a cash management account (“CMA”) and to obtain a virtual and/or physical debit card (“Debit Card”).  When you open a CMA and/or obtain a Debit Card you will be able to use the Services through the App to manage your account and card, view your transaction history, perform certain transactions, and access various features of your account and card.  IDT may offer the Services by way of one or more subscription based individual or group plans (each a “Plan”).  Each Plan may have a different set of Service features, transaction limits, eligibility requirements, billing cycle and/or pricing structures.  IDT may change a Plan’s features, transaction limits, eligibility requirements, billing cycle and/or pricing at any time.  IDT reserves the right to add, discontinue and/or terminate a Plan at any time.  Your ability to use a discontinued Plan will expire at the end of your Plan’s next billing cycle.  IDT reserves the right to not sell a Plan, or to not renew a Plan, to a consumer who is abusing the Plan or using it in a way that overburdens IDT’s network or that could damage IDT’s business.  Plan purchases are not refundable.  You can manage your Plan in the App, including changing to a different Plan.  For a description of each Plan, including Service features, transaction limits, eligibility requirements, billing cycle and pricing structures, visit https://elroy.app/plans.

6.2 Cash Management Account.  Through the App you can open a CMA.  The CMA is interest bearing if you have a social security number (SSN) or individual tax identification number (ITIN) and is provided through Synapse Brokerage, an SEC-registered broker-dealer and member of FINRA and SIPC.  The CMA, and any transactions you make in your CMA, including those initiated through the App, are governed by the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement.  The cash balance maintained in a Synapse Brokerage Cash Management Program is held at one or more Program Banks.  The deposit at Program Banks is not covered by Securities Investor Protection Corporation (SIPC).  The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits.  All FDIC insurance coverage is in accordance with FDIC rules.  See your applicable account agreements and the Synapse Terms of Service for further details.  For more information about FDIC insurance coverage, please visit the FDIC website at www.FDIC.gov or call 877-ASK-FDIC.  The Program Bank(s) participating in a Synapse cash management program can be found in the List of Program Banks.  The App will allow you to access the CMA and perform the following transactions:

  • view your balance;

  • view your transaction history for at least the last 90 days;

  • transfer funds between your CMA and a Linked Account (this feature is only available if you have a Linked Account with another depository institution as described in Section 7.2); and

  • send payments to pay your bills and other expenses through the Bill Payment feature.

6.3 Debit Card.  Through the App you can obtain a virtual and/or physical Debit Card.  The Debit Card associated with your CMA is a debit card issued by American State Bank or Evolve Bank & Trust (as applicable the “Bank”) pursuant to a license from Mastercard®.  Mastercard® is a registered trademark of Mastercard International Incorporated.  The Debit Card and any transactions you make with your Debit Card, including those initiated through the App, are governed by the Synapse Terms of Service and the applicable cardholder agreement referenced  in Section 2.2 of this Agreement.  The Debit Card may be used everywhere Mastercard® debit cards are accepted.  The App will allow you to access the virtual Debit Card and perform the following transactions:

  • freeze your Debit Card if you misplace it to prevent it from being used; and

  • manage your Debit Card.

6.4 Other Capabilities, Features and Transactions.  The App will also allow you to (if and when available):

  • update personal and account-related information;

  • obtain live support and customer service through the App’s chat function;

  • make Peer to Peer transfers to other Elroy users (see Section 6.5);

  • load funds to your CMA at GreenDot® locations;

  • deposit checks using the Remote Deposit Capture feature (see Section 6.6);

  • pay your bills with the Bill Payment feature (see Section 6.7); and

  • make other transactions, access features or capabilities as may be offered in the future.

6.5 Peer to Peer Transfers.  The Peer-to-Peer service allows you to send funds or receive funds for peer-to-peer personal, non-commercial purposes.  Any funds you receive via the Peer-to-Peer service will be stored in your CMA.  All Peer-to-Peer transfers are final and will not be reversed or refunded.  

6.6 Check Deposit/Remote Deposit Capture.  You can remotely deposit paper checks into your CMA by electronically transmitting a digital image of the paper checks to IDT for deposit.  Please check that your mobile device meets or exceeds the hardware requirements listed in Section 4.  Upon receipt of the image, IDT and/or, Synapse will review the image for acceptability.  IDT or Synapse may, in our or their sole discretion, accept or reject any item for remote deposit into the CMA.  Any image of a check must accurately and legibly provide all required information on the front and back of the check at the time presented.  Prior to capturing the check, you must endorse it on the back.  Any amount credited to your CMA using remote deposit is a provisional credit.  This feature is governed by the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement.  

6.7 Bill Payment.  You will be able to pay certain bills of certain providers with the funds in your CMA.  Payments made with the Bill Payment feature are governed by the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement.  Certain transaction limitations may apply to these payments.  Please refer to the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement for additional terms, conditions and limitations for this feature.

6.8 Account Information.  The account information that you access through the Services will generally be current as of the business day you access the information, unless another time is specified.

6.9 Authorizations.  Only the owners of a CMA are permitted to access an account through the Services.  By using the Services, you agree and authorize IDT and Synapse to act on any transaction or instruction we receive under your Login ID.  You also agree that any actions taken under your Login ID will have the same effect as an authorizing signature for the action.  We reserve the right to deny transactions or any other actions you authorize through the Services, if:

  • your CMA does not have enough available funds to make a transfer or payment;

  • there is money in your CMA but it is subject to legal process or other encumbrance restricting a transfer or payment;

  • you do not give complete or correct instructions when requesting a transaction;

  • you do not follow the procedures established in this Agreement or any other agreement you have with us, Synapse and/or or the Bank;

  • the Services or your mobile device are not working properly;

  • circumstances beyond our control make impossible for us to process a transaction or action you requested;

  • your Login ID has been reported lost or stolen, if we canceled or disabled your Login ID, if we have disabled the Service or if we believe that a person other than you is using your Login ID to access your account; and/or

  • we have reason to believe that you or someone else is using the Services for fraudulent or illegal purposes.

The Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement may contain other exceptions. 

6.10 Fees.  All fees and charges for use of the Services, the CMA and the Debit Card are listed in Exhibit A to this document and at https://www.elroy.app/fees.

6.11 Transaction Limits.  Users of the Service are subject to the transaction, frequency and dollar amount limitations listed in Exhibit A to this document and at https://www.elroy.app/.  In addition, there may be limitations on account activity set by Synapse or the Bank that restrict your ability to make electronic fund transfers. Any such limits are disclosed in the appropriate agreements governing your account.  Transfers between any Linked Account and your CMA, as well as payments made to third parties through the Service, are governed by the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement. Please refer to those agreements for information concerning any limitations that may apply to these transfers and payments.  IDT reserves the right to cancel or suspend transactions due to fraud or compliance related concerns.

6.12 Availability.  Some or all of the Services may be temporarily unavailable due to system maintenance or technical difficulties, including those of the internet service provider or cellular service provider.


7. Third Party Information and Linked Accounts

7.1 Third Party Information.  To use the Services IDT may be required to retrieve your account transaction history, balance information, and/or other information maintained by third-parties with which you have relationships, maintain accounts or engage in financial transactions, including information maintained by Synapse and the Bank for your CMA and your Debit Card (collectively, “Third-Party Account Information”).  To access this Third-Party Account Information, we may work with one or more third-party service providers, including Plaid Inc. (“Plaid”).  By using the Services, you grant IDT and Plaid the right, power and authority to access and transmit your Third-Party Account Information maintained by identified third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us.  You acknowledge that any Third-Party Account Information that is displayed through the Services will be the information we most recently accessed, and that this information may not reflect pending transactions or other recent activity.  We will use this information to provide you with the Services you request, for our own internal business purposes and to offer you other IDT products and services that may be of interest to you.  By agreeing to this Agreement, you are also agreeing that you are responsible for keeping any passwords and usernames you provide to us so we can retrieve this Third-Party Account Information secure, and for keeping those passwords and usernames up to date in the App.  With the exception of information related to your CMA or Debit Card, IDT does not review the Third-Party Account Information for accuracy, legality or non-infringement, and IDT is not responsible for your Third-Party Account Information or products and services offered by or on third-party sites.  You agree to your Third-Party Account Information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy located at https://plaid.com/legal/.

7.2 Linking Bank Accounts. If enabled you may link an account with us or an external account at a third-party financial institution (a “Linked Account”) for online transfers between your Linked Accounts and your CMA.  You can create a Linked Account through the App.  We will need to verify each Linked Account and your control of each Linked Account.  All Linked Accounts must be with financial institutions in the United States.  We may decline the use of any Linked Account that we believe may present a risk to you and/or us.  By linking an external account to your CMA, and by subsequently logging into your Linked Account through the App, you authorize us to view your account history and profile, including, but not limited to, your account and routing details, authentication details, balance, transaction history, contact information, and other related information made available by such external financial institution; and you understand this information may be used to transact on your behalf and perform other services subject to our Privacy Policy.  When adding a Linked Account, you represent and warrant that you are owner of and have the right to access, use and authorize us to use the account for information and funds transfer purposes.  If any of your Linked Accounts has a joint account holder, you represent and warrant that the joint account holder has consented for you to represent both you and them, and to use the Linked Account with the App.  If you do not have such consent, you should not use that external account and we will terminate your use of the linking service if we are notified of such a situation.  If you close any of your Linked Accounts, you are responsible for removing it as an account eligible for the linking service to avoid any transaction failure and possible charges related to a failed transaction.  We are not responsible for any acts or omissions by the external financial institution or other provider of any Linked Account, including, without limitation, any modification, interruption, or discontinuance of any Linked Account by such financial institution.

7.3 Synapse Terms.  Transfers between your CMA and a Linked Account are governed by the Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement.  Certain transaction limitations may apply to Linked Account transfers.  


8. Communications

8.1 Electronic Communications.  Our Services can only be provided by conducting business through the internet, and that means that when you use the App or our Services you will receive from time-to time disclosures, notices, documents, and other communications (collectively, “Communications”) about the Services, the App and/or IDT.  That is why we need you to consent to receive Communications electronically, and this section informs you of your rights when receiving these Communications from us.  By accepting to this Agreement, you agree that electronic Communications shall be considered “in writing” and have the same meaning and effect as if provided in paper form, unless you have withdrawn your consent to receive Communications electronically as stated below.  You agree that we have no obligation to provide you Communications in paper format, although we reserve the right to do so at any time.  Unless otherwise required by applicable law, you authorize IDT to send or provide the following Communications by electronic means and not in paper format:  (a) this Agreement and any amendments, modifications or supplements to it; (b) your Service transactions; (c) any initial, periodic or other disclosures or notices provided in connection with the App or Services, including those required by applicable law; (d) any customer service communications; and (e) any other communication related to the App, the Services, a transaction you make or IDT.  Electronic means may include email, SMS/MMS, in-App messages including push notifications, text, website chat with customer service, or posting in the App.  Message and data rates may apply when you receive SMS/MMS, text or push notification messages on your mobile phone.  You may withdraw your consent to receive all Communications electronically (except for in-App messages from IDT) at any time.  In order to withdraw your consent, you can change the settings in the App or contact us at support@elroy.app.  In order to access and retain Communications, you must have:  (i) an Internet browser that supports 128-bit encryption, (ii) a mobile number and the capability to receive messages from or on behalf of IDT, and (iii) a device and data or Internet connection capable of supporting the foregoing.  You will also need a valid email address, sufficient storage space to save Communications or the capability to print the Communications from the device on which you view them.  If you withdraw your consent, we reserve the right to limit or close your CMA.  If you withdraw your consent, the legal validity and enforceability of prior Communications delivered in electronic form will not be affected.

8.2 Consent to Receive Certain Messages.  IDT uses SMS/MMS messages (including text messages), telephone calls (including prerecorded and artificial voice and autodialed calls), and in-App messages (including push notifications) to contact our users with service-related information or questions about the use of our Services and/or the App.  You consent to receive these types of messages and telephone calls from us, our agents, representatives, affiliates or anyone calling on our behalf at the specific numbers you have provided to us and represent that the telephone numbers you have provided to us are your contact numbers and not someone else’s.  Your consent to receive these types of messages and calls includes both informational and marketing messages and calls.  Your consent is specific to the phone numbers you provide to us to use the Services.  Message and data rates may apply when you receive SMS/MMS, text or push notification messages on your mobile phone.  You may refuse to consent to receive calls and texts from IDT and its affiliates that require your consent, including autodialed, pre-recorded or artificial voice telemarketing calls.  You may also withdraw your previously given consent to receive such calls and texts.  Your ability to manage and use certain features of the Services could be limited if you refuse or withdraw your consent to receive these messages and calls.


9. Use of the App, Services and Website

9.1 Lawful Use.  You agree to use the App, Services, your account and the Website only for lawful purposes.  You are prohibited from any use of the App, Services, your account or the Website that would constitute a violation of any applicable law, regulation, rule or ordinance of any nationality, state, or locality or of any international law or treaty, or that could give rise to any civil or criminal liability.  Any unauthorized use of the App, Services or Website, including but not limited to unauthorized entry into IDT’s systems is strictly prohibited.  IDT makes no claims concerning whether use of the App, Services or Website is appropriate outside of the United States, and certain Services may only be available in certain jurisdictions.  If you access the App, Services or Website from outside of the United States, you are solely responsible for ensuring compliance with the laws of your specific jurisdiction.  IDT grants you a non-exclusive, non-transferable, fully revocable right to use the Services subject to availability and your compliance with this Agreement.  To the extent you choose to access a Service, you do so at your own initiative and are responsible for compliance with any applicable laws.  We reserve the right to change, suspend, remove, or disable access to any Service or your account at any time without notice or liability in accordance with applicable law.  We may also impose limits on the use of or access to any Service without notice or liability.  You cannot use or access the App or the Services if you are not:  (a) lawfully entitled to use the App and Services in the country in which you may be located or in which you may reside at the time of your use, or (b) capable of forming a binding legal agreement with IDT

9.2 License to App.  The App is licensed, not sold, to you for use pursuant to the terms of this Agreement.  Subject to your compliance with this Agreement, you are granted a limited, non-exclusive, non-sub licensable, non-transferable, fully revocable license to download, install and personally use the App on a mobile device that you own or control (a “Device”).  This license does not allow you to use the App on any mobile device that you do not own or control, and you may not distribute or make the App available over a network.  If you have the App on multiple Devices, you can only access our platform from one such Device at a time.  The terms of this license will govern any upgrades, improvements, modifications, fixes, updates and future versions provided by us unless accompanied by a separate license.  We may terminate this license at any time for any reason.  IDT reserves all rights regarding the App, Services and Website not expressly granted to you.

9.3 Restrictions on Use.  You agree that the App, your account and the Services are for your personal use with your Devices only.  You agree not to:

(a) rent, lease, lend, sell, sublicense, export, distribute or transfer the App to any third party;

(b) copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of the App or any part thereof;

(c) remove, obscure or alter any copyright notices or other proprietary notices included in the App;

(d) use the App, your account or the Services in violation of this Agreement or applicable law;

(e) use the App, your account or the Services other than for personal, non-commercial use;

(f) use the App or the Services to send any unsolicited communications or any communication not permitted by applicable law;

(g) use any type of spider, virus, worm, trojan-horse, time bomb or any other codes or instructions that are designed to distort, delete, damage, emulate or disassemble the App or the Services;

(h) use the App or Services to cause or intend to cause embarrassment or distress to, or to threaten, harass or invade the privacy of, any third party;

(g) use the App or the Services to submit or expose any third party to any material that infringes any third party’s intellectual property rights or violates the rights of any third party, or is offensive, defamatory, racist, pornographic, illegal, harmful to minors, indecent or is otherwise objectionable in IDT’s sole discretion;

(h) use the App, your account or the Services in any way that (i) could damage, disable or overburden any IDT server or facility, or the networks connected to any IDT server or facility, (ii) interferes with any other party’s use and enjoyment of the App or Services, or (iii) could damage IDT’s business, reputation or employees;

(i) use the App, your account or Services fraudulently, abuse the App or Services or unfairly exploit or misuse any of our policies; 

(j) intercept or monitor, damage or modify any communication which is not intended for you;

(k) use the App or the Services to collect or harvest any personally identifiable information, including account names; or

(l) use the App or the Services to provide commercial products or services to third parties).

9.4 Updates.  IDT may automatically check your version of the App and may update the App, but has no obligation to do so.  We may alert you that updates to the App are available and you may be required to update or upgrade your version of the App (or install a new version) and/or enter into an updated version of this Agreement to be able to use the App and the Services or otherwise take advantage of any features or updates to the App.  Updates may be required to maintain software compatibility, provide security updates or bug fixes, or offer new features, functionality or versions.

9.5 Suspension and Maintenance.  From time to time, IDT may need to perform maintenance on or upgrade the App, the Website, the Services or the underlying infrastructure that enables you to use the App, the Website and the Services.  This may require IDT to temporarily suspend or limit your use of some or all of the App, Website or Services until such time as this maintenance and/or upgrade can be completed.  You will not be entitled to claim damages for such suspension or limitation of use.

9.6 Your Devices.  You are responsible for all actions that take place with your Devices as a result of access to or use of the App whether the access was made by you or by a third party using your Device.  If your Device is stolen or if you become aware of unauthorized use of any Service through the App you must notify us immediately to suspend the Service.  You are responsible for all Service transactions and charges until the Service is suspended.  You are responsible for preventing the unauthorized use of the App and Services from your Devices, and you are responsible for any authorized or unauthorized use thereof.

9.7 Intellectual Property.  The Elroy name and associated logos, the software and technology underlying the IDT platform, and all registered or unregistered trademarks, service marks, logos, patents, patent applications, proprietary information, registered or unregistered copyrights and all other rights related to intangible property which are used, developed, comprising, embodied in, or practiced in connection with the App, the Services, the Website, the platform and the products or services now or hereafter owned, created or provided by IDT (collectively, the “IDT IP”), are owned, controlled or licensed by IDT, its affiliates and licensors.  Unless otherwise noted, the App, Website and all materials in the App and Website, including text, images, illustrations, designs, icons, photographs, video clips and other materials, and the copyrights, trademarks, trade dress and/or other intellectual property in such materials (collectively, the “App Contents”), are owned, controlled or licensed by IDT or its affiliates.  You have no rights in or to the IDT IP or the App Content and you may not use the IDT IP or the App Content in any manner without the prior written consent of IDT.  You may not reproduce, publish, transmit, distribute, display, modify, create derivative works from, sell or exploit in any way any of the IDT IP or the App Content.  Use of the IDT IP or the App Content for any purpose not expressly permitted by this Agreement is strictly prohibited.

9.8 Patents.  The App, Website, the systems and methods that it accesses, and/or the related services provided by IDT are covered by one or more patents or patents pending, including, without limitation, 6,701,365, 6,594,254, 6,513,066, 6,347,085, 6,226,678, 6,185,184, 6,131,121, 6,108,704, 8,849,931 and 6,009,469.  All right, title and interest (including but not limited to copyright, patent, trade secret, service mark and all other intellectual property and proprietary rights worldwide) in and to the App (including but not limited to any hardware, software, computer code, graphics, images, photographs, animations, sounds, video, audio, music, multimedia, and text incorporated into the App software and documentation), and any other component of the App or documentation, are owned or licensed by IDT or its affiliates and are covered by various worldwide patents and patent applications that are the legal property of IDT or its affiliates.

9.9 SDK Licenses.  The App uses various third party software and software development kits (collectively, “SDKs”) to passively collect information from our users of the App.  This information may include your e-mail address, and depending on the permissions granted by you on your mobile device, your precise location (i.e., GPS-level data; see next section), apps you have installed and enabled, and your mobile identifier.  By downloading and using the App you agree to the terms of the SDKs.  Each SDK is subject to copyright and other intellectual property rights of the owner of the SDK, all of which rights are reserved by the owner.  EACH SDK IS PROVIDED BY ITS COPYRIGHT HOLDER(S) AND CONTRIBUTOR(S) "AS IS'' AND ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE ARE DISCLAIMED.  IN NO EVENT SHALL THE COPYRIGHT HOLDERS OR CONTRIBUTORS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS INTERRUPTION) HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THE APPLICABLE SDK, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

9.10 Feedback.  You may choose to, or we may invite you to, submit comments or ideas about the Services, including without limitation about how to improve the Services or our products (collectively, “Feedback”).  By submitting any Feedback, you agree that your disclosure is gratuitous and without restriction, and will not place IDT under any fiduciary or other obligation, and that we are free to use your Feedback without any additional compensation to you, or to disclose your Feedback on a non-confidential basis or otherwise to anyone.  You further acknowledge that, by acceptance of your submission, IDT does not waive any rights to use similar or related ideas previously known to IDT, or developed by its employees, or obtained from sources other than you.  If you provide Feedback to IDT, you are granting IDT a royalty-free, world-wide, transferable, sub-licensable, perpetual, irrevocable license to use the information in the course of offering the Services.  Furthermore, IDT retains the right to reformat, excerpt, or translate any information or materials submitted by you to IDT.  IDT reserves the right at all times to disclose any information as it deems necessary to satisfy any applicable law, regulation, legal process or governmental request, or to edit, refuse to post or to remove or restrict any information or materials, in whole or in part, in IDT’s sole discretion.

9.11 Third Party Links.  The Website may provide links to third-party websites or other websites of IDT’s affiliates or related companies (collectively, “Unrelated Sites”).  These links are provided solely as a convenience to you, and the terms in this Agreement do not control the Unrelated Sites.  Your access, reliance on and use of these links and any Unrelated Sites is entirely at your own risk and is subject to such Unrelated Sites’ terms and conditions.  IDT is not responsible for, and will not have any liability or responsibility to you, for the content on, or your use of, any third-party website.  Our inclusion of hyperlinks to Unrelated Sites does not imply any endorsement of such sites or the material found on them.

9.12 Website Standards.  You agree to comply with all applicable federal, state, local and international laws and regulations when using the Website.  Additionally, you may not, without our express written, prior permission: (a) access, monitor or copy any content or information on the Website using any robot, spider, scraper or other automated means or any manual process for any purpose; (b) violate the restrictions in any robot exclusion headers on Website or bypass or circumvent other measures employed to prevent or limit access to Website; (c) take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure; (d) deep-link to any portion of Website for any purpose; or (e) “frame”, “mirror” or otherwise incorporate any part of the Website into any other website.

9.13 IDT Actions.  IDT reserves the right to take various actions against you if we believe you have engaged in activities restricted by this Agreement or by laws or regulations, and IDT also reserves the right to take action to protect IDT, other users, and other third parties from any liability, fees, fines, or penalties.  We make take actions including, but not limited to:  (a) updating information you have provided to us so that it is accurate; (b) limiting or completely closing your access to the App, Services and/or Website; (c) closing your account due to unusual activity as determined by us, the Bank or a Program Bank, (d) suspending or terminating your ability to use the App, Services and/or Website on a temporary or ongoing basis; (d) taking legal action against you; and/or (e) holding you liable for the amount of IDT’s damages caused by your violation of this Agreement.


10. General Provisions

10.1 No Warranties.  The App, Website and the Services and all information, content and material included in or made available to you through the App or Website are provided by IDT “AS IS” and “AS AVAILABLE” with no warranties of any kind.  You expressly agree that your use of the App, Website and the Services is at your sole risk.  IDT does not make any warranties, claims or representations to you or to any third party, whether express, implied or statutory, regarding the App (or any content therein), the Website (or any content therein), the Services, the platform and network services underlying the Services or any IDT product associated with the Services, including, without limitation, warranties or conditions of quality, performance, suitability, durability, title, non-infringement, merchantability, completeness of fitness for use for a particular purpose.  All such warranties are hereby expressly excluded and disclaimed and you hereby waive and release IDT from all such warranties of any nature.  Without limiting the foregoing, IDT makes no warranty or representation that the App, Website or the Services will always be available, accessible, uninterrupted, timely, secure, accurate, complete or error free or free of viruses or other harmful components or that any defects will be corrected.  IDT may choose not to provide the App, Website or particular Services in or to certain jurisdictions within the United States or other countries in its sole discretion.  IDT does not provide the connection from your Device to our network.  We do not authorize anyone, including but not limited to IDT agents and employees, to make any warranties on our behalf and you should not rely on any such statements.  Because some jurisdictions do not permit the exclusion of certain warranties, these exclusions may not apply to you.  For the purposes of this paragraph, “IDT” includes our parent companies, subsidiaries, successors and affiliates and all their respective directors, officers, agents, employees, licensors, and suppliers (including any payment card networks and payment processors).  This provision will continue to remain in force after this Agreement expires or is terminated.

10.2 No Legal, Tax or Financial Advice; Alerts.  IDT does not intend to provide you with any legal, tax or financial advice through the App, Website or Services.  IDT encourages you to consult an accountant or other financial advisor before implementing any financial strategy or making financial decisions.  IDT will make reasonable efforts to provide timely and accurate alerts to you, but you acknowledge and understand that alerts may be delayed or prevented for various reasons.  IDT does not guarantee the delivery, accuracy or timeliness of alerts, and IDT shall not be liable for any errors in the delivery or content of an alert.  IDT shall not be liable for any action you take, or do not take, in reliance on alerts.

10.3 Indemnification.  You agree to indemnify, release and hold IDT harmless from any and all liabilities, losses, damages or claims of any kind resulting from or arising out of your (a) use of the App, Website or the Services, and the content therein, other than as a result of our gross negligence, (b) breach of this Agreement or any document incorporated herein, (c) violation of another person’s or entity’s rights, and/or (d) any dispute or issue between you and a third party.  This section will survive the expiration or termination of this Agreement.  For the purposes of this paragraph, “IDT” includes our parent companies, subsidiaries, successors and affiliates and all their respective directors, officers, agents, employees, licensors, and suppliers (including any payment card networks and payment processors).  New Jersey consumers and prospective consumers:  this section is unenforceable or inapplicable to you.  

10.4 Limitations of Liability.  IDT is not liable to you or to any third party for any costs, liabilities or damages arising either directly or indirectly from any cause, action or claim relating to the App, Website, Services or the network services underlying the Services, including without limitation any personal injury, actual, incidental, consequential, exemplary, punitive, reliance or special damages, or for any claims for loss of revenue, lost profits, lost use, data, or goodwill or for lost business opportunities of any kind or nature whatsoever.  These limitations apply even if the damages were foreseeable or we were told that they were possible, and these limitations apply whether the claim is based upon contract, tort, statute, fraud, misrepresentation, or any other legal or equitable theory.  IDT is not liable for failures, outages, interruptions, equipment failures or acts or omissions of third parties regarding or related to the App, Website or Services.  IDT will not be liable for any damages if the network services underlying the Services are interrupted, or if there is a problem with the interconnection of the App or the Services with the service, products or equipment of some other party.  This section will survive the expiration or termination of this Agreement.  If you are dissatisfied with the App or Services, then your sole and exclusive remedy is to discontinue use of the Services.  Because some jurisdictions do not permit these exclusions or limitations, IDT’s liability in such jurisdictions shall be limited to the extent permitted by law.  New Jersey consumers and prospective consumers:  this section is unenforceable or inapplicable to you.  For the purposes of this paragraph, “IDT” includes our parent companies, subsidiaries, successors and affiliates and all their respective directors, officers, agents, employees, licensors, and suppliers (including any payment card networks and payment processors).  Notwithstanding anything in this Agreement to the contrary and should any provision of this Agreement limiting IDT’s liability not be enforced, IDT’s total liability to you in connection with this Agreement shall not exceed in the aggregate the amount paid by you for the Services in the 12 month period immediately prior to the date of the event giving rise to the claim, subject to a maximum of $1,000.00 in all cases.

10.5 Acts Beyond Our Control.  IDT will not liable or responsible for any failure in performance, loss or damage that it is due to any event beyond our reasonable control, including without limitation, pandemic, fire, explosion, power blackout, earthquake, volcanic action, flood, the weather elements, strike, embargo, labor disputes, civil or military authority, war, acts of God, acts or omissions of carriers or suppliers and acts of regulatory or governmental agencies.

10.6 Assignment.  This Agreement is personal to you and you may not assign or transfer it or your rights or obligations to any other person without IDT’s prior consent.  We can assign all or part of our rights or duties under this Agreement without prior notice.  If we elect to make such an assignment, we will have no further obligations to you under this Agreement or in connection with your use of the App or Services.

10.7 Notices.  Any notice from IDT to you under this Agreement will be provided by one or more of the following:  posting in the App, a recorded IVR announcement while using a Service, SMS/MMS, in-App message including push notification, text, email or a call to a telephone number provided by you.  You may contact IDT at the address and/or phone number listed below:

Elroy

c/o IDT Payment Services, Inc.

520 Broad Street

Newark, NJ 07102

Telephone:  973-438-1000


10.8 Governing Law.  This Agreement will be governed by the laws of the State of New Jersey, United States, without regard to its choice of law rules, and those laws will apply no matter where you reside, or where you use the App or the Services.

10.9 Entire Agreement.  This Agreement constitutes the entire agreement between you and IDT regarding the App, Website and Services and supersedes all prior agreements, understandings, statements or proposals, and representations, whether written or oral between you and IDT regarding the same.  No written or oral statement, advertisement or service or product description not expressly contained in this Agreement or in the App or Website will be allowed to contradict, explain, or supplement these terms.  You acknowledge that you are not relying on any representations or statements made by IDT that is not included in this Agreement.  If any part of this Agreement is found invalid, the rest of this Agreement will remain valid and enforceable, and the invalid provision shall automatically be replaced by a lawful provision with the same or similar intent.  The failure by IDT to exercise, or delay in exercising, a legal right or remedy provided by this Agreement or by law shall not constitute a waiver of IDT’s right or remedy.  If IDT waives a breach of this Agreement by you, the waiver shall not operate as a waiver of a subsequent breach by you.

10.10 Disputes; Arbitration.  Please read this section carefully as it limits your rights if there is a dispute between us.

(a) Both you and IDT agree to waive our rights to sue in court and have disputes resolved in court by a judge or jury.  Instead, each party agrees to first contact the other party with any dispute and to provide a written description of the problem and any proposed resolution.  If we can’t resolve the dispute, then either party can submit the dispute to arbitration.

(b) You and IDT agree to resolve all disputes by arbitration, including any dispute as to the interpretation or application of this Section.  Arbitration is a means of having an independent third party resolve a dispute.  The rules of arbitration are different than the rules of a court.  In an arbitration there is no judge or jury, but the arbitrator can award the same damages and relief and must honor the same limitations stated in this Agreement as a court would.  

(c) The term dispute shall mean any and all claims, controversies and disputes between you (or persons claiming through you) and IDT (or any of its parent companies, subsidiaries, affiliates and successors) relating to or arising out of this Agreement, the App, the Website, the Services and/or the activities or relationships that involve, lead to, or result from this Agreement, including the validity or enforceability of this arbitration provision, any part thereof, or the entire Agreement.  Claims are subject to arbitration regardless of whether they arise from:  contract; tort (intentional or otherwise); federal or state law, statute or regulation; common law; principles of equity; or otherwise.  Claims include matters arising as initial claims, counterclaims, cross-claims, third-party claims, or otherwise.

(d) Either you or IDT can request at any time that a dispute be submitted to arbitration.  The arbitration will be conducted by the American Arbitration Association (“AAA”) under its rules, including the AAA’s Consumer Arbitration Rules, as such rules are modified by this Agreement.  The AAA’s rules are available at www.adr.org or by calling 1-800-778-7879.  You may choose to have the arbitration conducted by telephone, based solely on written submissions, or in person in Newark, New Jersey, Los Angeles, California or any other mutually agreed location.  IDT shall pay all of the AAA filing, administration and arbitrator fees up to $7,000.  Thereafter, IDT and you will divide equally all such fees and expenses of the arbitration.  IDT shall not pay your travel expenses or your costs in preparing and presenting your case, including your legal fees.  The decision of the arbitrator shall be final and may be entered and enforced in any court of competent jurisdiction.

(e) We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated or representative action.  You agree to waive your right to consolidate or combine your dispute with the disputes or claims of other consumers or customers, or to bring a claim on behalf of any other person or entity.  You agree to waive your right to bring a dispute as a class action or as a private attorney general, and you agree to waive your right to act as a class representative or participate as a member of a class of claimants with respect to any dispute.  Unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the disputes in arbitration, and shall not (i) determine the rights, obligations, or interests of anyone other than a named party, or resolve any dispute of anyone other than a named party; nor (ii) make an award for the benefit of, or against, anyone other than a named party.  Notwithstanding the foregoing, we both agree that you or we may bring suit in court to enjoin infringement or other misuse of intellectual property rights.

(f) You can opt out of the provisions of this Section by sending a trackable letter to IDT Payment Services, Inc., 520 Broad Street, Newark, New Jersey 07102, Attn:  Legal Department, indicating your desire to opt out of this Section.  The letter must include your name and address and identify this specific Agreement.  We must receive the letter within 60 days of your acceptance of this Agreement.

(g) The scope of this arbitration provision is to be given the broadest possible interpretation that is enforceable.  This arbitration section shall survive the termination of this Agreement.  If any portion of this arbitration section is deemed invalid or unenforceable, the remaining portions of this arbitration section shall nevertheless remain valid and in force.  If there is a final judicial determination that applicable law precludes enforcement of this arbitration section’s limitations as to a particular claim for relief or particular term, then that claim (and only that claim) or that term (and only that term) must be severed from this arbitration section and may be brought in court.  If this arbitration section is found not to apply to you or your dispute, you and IDT agree that any judicial proceeding (other than small claims actions) will be brought in the federal or state courts of New Jersey, and both you and IDT consent to venue and personal jurisdiction there.  If for any reason a dispute proceeds in court rather than in arbitration we each waive any right to a jury trial.

10.11 Translation.  For your convenience, IDT may provide you with a translation of the English language version of some or all of the various parts of this Agreement.  However, the meanings of terms, conditions and representations herein are subject to definitions and interpretations in the English language.  If there is any inconsistency between a non-English version and the English version, then the English version shall govern your relationship with IDT.  Any translation provided may not accurately represent the information in the original English version.

10.12 Licenses.  IDT Payment Services, Inc. is a licensed money transmitter and is the provider of Money Transfer in all U.S. states in which it is licensed and Canada.  IDT Payment Services of New York LLC is the provider of Money Transfer in the State of New York and is licensed as a Money Transmitter by the New York State Department of Financial Services.


11. Electronic Fund Transfer Disclosure Statement

For information, disclosures and limitations applicable to your CMA, Debit Card or transfers between your Linked Accounts and your CMA, including your liability for unauthorized transactions, transaction limits, error resolution procedures, please refer to Synapse Terms of Service and other applicable Synapse documents referenced in Section 2.2 of this Agreement.  



 

Exhibit A

Fees for Services and Transaction Limits


The (i) fees and charges for use of the Services, the CMA and the Debit Card and (ii) transaction, frequency and dollar amount limitations, are listed below.  For the most updated fees and charges and Service limitations, visit https://www.elroy.app/fees.

Limits & Fees

Transaction Type

Daily

Fees

Peer2Peer

$5,000

$0

Incoming/Outgoing ACH via Linked Bank Account

$5,000/Unlimited

$0

Deposits/Withdrawals using a third party or external debit card (no gift cards or credit cards)

$5,000

$0.35 + 3%

Outgoing RPPS

(Bill pay)

$5,000

$0

Paper Checks

$5,000

$0

ATM Withdrawal

$500

$2.50*

Cash Back at POS

$500

$0

Debit Mastercard Purchase & Refund

$5,000

$0

Outgoing ACH initiated via Account & Routing Number

$5,000

$0

Direct Deposit & Incoming ACH initiated via Account & Routing Number

$10,000

$0

Incoming Wire via Account & Routing Number

$10,000

$5

GreenDot Cash Load

$1,500

$4.95**

Replacement Card Fee

-

$6

Foreign Transaction Fee

-

$0

Account Closing Fee


$5***


Elroy reserves the right to cancel or suspend transactions due to fraud or compliance related concerns.


*Surcharge-Free ATM’s when using the Allpoint network.

**Per load. Fee is determined and assessed by the operator of GreenDot Reload Network location and varies depending on location. This is a third-party fee and subject to change.

***To be charged only if (a) IDT closes your account due to unusual activity or if you breach the terms of service, (b) you have not withdrawn all of the money in your account, (c) you do not have a Linked Account, and (d) IDT is required to send you a check for the remaining balance in your account. If the fee is triggered and your account does not have sufficient funds to pay this fee, then IDT will sweep the account’s remaining funds and close the account.



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