PLEASE READ THESE TERMS OF SERVICE (THE “OVERTIME TERMS”) CAREFULLY. THESE OVERTIME TERMS APPLY TO YOUR USE OF THE OVERTIME SERVICE AS PROVIDED BY MONEYLION INC., INCLUDING ITS RELATED, AFFILIATED, OR SUBSIDIARY COMPANIES (“COMPANY”) AND INCLUDE AN AGREEMENT TO ARBITRATE, DISCLAIMER OF WARRANTIES AND LIMITATIONS ON LIABILITY. PAY ATTENTION TO CAPITALIZED SECTIONS. YOU SHOULD PRINT A COPY OF THESE OVERTIME TERMS FOR YOUR RECORDS.
In addition to these Overtime Terms and the Additional Terms, you may enter into other agreements with us or a bank that govern your use of Overtime. If there is a conflict between these Overtime Terms and another agreement that you enter into with us and/or a bank (including, without limitation, your Loan Agreement (as defined below), such other agreement will take precedence with respect to the specific aspects of the Overtime service to which it applies.
Overtime may not be available to customers in all states.
By clicking that you agree, e-signing or by otherwise using Overtime (as defined below) as provided by MoneyLion Inc., and any of its affiliates, subsidiaries, agents and assigns (together, “Company”, also referred to as “we” or “us”), you agree that such actions have the same legal effect as signing a paper version of these Overtime Terms, and You agree to be legally bound by the following terms and conditions:
NOTICE OF AGREEMENTS RESOLVING DISPUTES AND ARBITRATION
Before agreeing to these Overtime Terms and before entering into a Loan Agreement, you should carefully review the Agreements Resolving Disputes (“Disputes Agreement”), to which you have already agreed and which includes the Arbitration Provision (as defined therein). The Disputes Agreement is incorporated by reference as if fully set forth herein, and shall be expressly deemed to include the Lender making the Loan to you (as defined in your Loan Agreement). The Disputes Agreement provides that all claims arising from or relating to these Overtime Terms and your Loan Agreement, including any claims related to Overtime or any related services you use, must be resolved by binding arbitration if the person or entity against whom a claim is made elects to arbitrate the claim. Thus, if the person or entity against whom the claim is made elects to arbitrate the claim, then you will not have the following important rights:
You may not file or maintain a lawsuit in any court except a small claims court.
You give up your right to have a jury decide Your claim.
You will not be afforded all the procedural, pre-trial discovery, and appellate rights in an arbitration proceeding that you would enjoy in a court or judicial proceeding.
You may not join or participate in a class action, act as a class representative or a private attorney general or consolidate your claim with the claims of others.
You will have to pay certain fees in order to commence an arbitration proceeding unless You ask us to pay those fees for you.
If you do not want to arbitrate all claims as provided in the Disputes Agreement (as incorporated herein), then you have the right to reject the Arbitration Provision by delivering a written notice to us at MoneyLion, Attn. Member Services, P.O. Box 1547, Sandy, UT 84091-1547 within thirty (30) days of the date you have entered into these Overtime Terms.
Overtime Loan Services. If you have opened a RoarMoney Account provided by MetaBank®, N.A. (the “Bank”), you may be eligible to apply for an installment loan (“Overtime”) issued by an affiliate of Company , which is a loan for personal, family or household use only, to allow you to pay for goods or services that you have already paid for using your RoarMoney Account over a series of installments (each, an “Installment Payment”).
Eligibility. Overtime is intended solely for natural persons who are eighteen (18) years of age or older (nineteen (19) years of age for residents of Alabama and Nebraska), and who are legal residents of the United States (excluding its territories), except for the states excluded below. Any registration by, use of, or access to, Overtime by any nonresident or person underage is unauthorized, unlicensed and in violation of these Overtime Terms. By using Overtime, you represent and warrant that you are a legal resident of one of the fifty (50) United States or the District of Columbia and are at least 18 years old (or 19 years if you reside in Alabama or Nebraska).
In addition, when you apply for Overtime, you must (1) have a RoarMoney Account with a positive balance, and (2) be in good standing on any outstanding Overtime loans. You must also pass Company’s credit underwriting and fraud prevention checks, as Company may modify from time to time. Company reserves the right to verify your identity and share your information with third party service providers to assist it in doing so. If you misrepresent your eligibility to us, you may be prohibited from using Overtime in the future, and Company may decide to terminate your Membership. Company may also define other eligibility criteria from time to time.
Changes to these Overtime Terms. These Overtime Terms may be amended from time to time without your consent, and the amended Agreement will be effective when posted on the MoneyLion.com website, mobile application, customer dashboard, or third party website. We will provide you with advance notice of any such amendment as and if required by law, such as when we deem any such change to be material. It is your responsibility to check this website and the app for updates to the Agreement. By continuing to use Overtime following any amendment to these Overtime Terms, you agree to be bound by all such amendments.
Prequalification, Application and Verification. You expressly authorize Company to obtain your credit report and other information from one or more consumer reporting agencies for the purposes (as applicable) of processing your Overtime loan application, evaluating your qualification request, and/or administering your Overtime account, including, without limitation, when (1) you submit a request to pre-qualify for a Overtime loan (e.g., by clicking the “See if I Qualify” or “View My Options” button) , (2) you apply for a loan (e.g., by clicking the “Confirm” or “Overtime” button) and, at Company’s discretion, from time to time thereafter while your application is pending and/or during the servicing and/or collection of any Overtime loan extended to you. You also authorize and consent to Company to use such information for other credit-related purposes connected with any loan or account you may obtain or maintain through the Company, to offer other products and services, and for any other uses and purposes permitted by law. You understand and acknowledge that this may involve multiple “soft inquiries” for your credit report from one or more consumer reporting agencies. Soft inquiries do not impact your credit score.
You agree to provide any information or documentation reasonably requested by Company to verify your identity in connection with your Overtime application or loan, and you authorize us to make, directly or through third parties, any inquiries we consider necessary to verify your identity. You also authorize us to share any information we collect about you with third party sources or service providers to help us with the verification procedures. Company reserves the right to close, suspend or limit access to Overtime in the event we are unable to obtain or verify any of this information to our satisfaction.
You authorize Company to make any additional inquiries to assess your eligibility, including as needed to comply with applicable laws and regulations, either directly or through services provided by third-party service providers.
Company reserves the right to deny your Overtime application for any reason permitted by applicable law, including but not limited to, your creditworthiness, suspected fraud, your history of using the Services (as defined by the MoneyLion Membership Program and Services Agreement, referred to here as the “MoneyLion Membership Agreement”), or your violation of any agreement with us, including these Overtime Terms.
Loan Agreement. If we approve you for an Overtime loan, you will enter into a loan agreement with the applicable financing entity (which will be a Company affiliate), which will govern the terms of the loan extended to you (“Loan Agreement”). A copy of the Loan Agreement will be provided to you before you complete your application so you can review the terms of the Loan Agreement and decide whether to accept the terms offered. Once your application has been approved, the funds will be deposited into your RoarMoney Account within minutes.
Optional Tipping. At the time you apply for an Overtime loan, you may choose to give Company an amount in appreciation of its service (a “Tip”). You are not required to give Company a Tip to obtain an Overtime loan – Tips are completely voluntary. In no way does your eligibility for Overtime, your Overtime limit or eligibility for other products and services offered by the Company and its affiliates depend on the frequency, quantity, or amount of Tips you choose to give. Any Tip(s) you choose to give may be divided evenly among your Installment Payments. Tips are non-refundable once paid.
Disbursement and Repayment.
Once you are approved for an Overtime loan and the funds have been disbursed, you authorize Company to disburse the amount of the Overtime loan to your RoarMoney Account.
If you opt into automatic payments, you also authorize Company or its affiliates to debit your authorized payment method for the amount of your Installment Payment(s) on or after your scheduled due date. You may also choose to make manual repayments instead. We accept payments by (1) personal check, nationally accepted money order or bank official check; (2) authorizing us to charge your Visa® or Mastercard® debit card (“Bank Card”); and/or (3) authorizing us to initiate electronic fund transfers from the account(s) specified in your payment authorization with us. You may manage repayments through the MoneyLion mobile application, or, alternatively, payments by personal check, money order or bank check must be made at the following address: MoneyLion; Attn Payments, P.O. Box 1547, Sandy, UT 84091.
Subsequent to the disbursement of the loan, you may add or change your payment method through the MoneyLion mobile application, or if the specific feature is not available, or if you have further issues or questions, you may contact customer service at [email protected] or 1-888-704-6970.
If, on the applicable Installment Payment due date, the balance in your designated payment method is less than the amount to be repaid, you authorize Company or its affiliates to debit your designated payment method up to the balance in such account.
If you have opted into automatic payments, you may withdraw your authorization at any time before the scheduled due date of your next Installment Payment, by following the prompts in the MoneyLion mobile application, or by contacting customer service at [email protected] or 1-888-704-6970. You agree to notify Company in time for us to have a reasonable opportunity to act upon your request, typically three (3) business days (business days are Mondays through Friday, excluding bank holidays).
If any debit or credit was made wholly or partially in error, you authorize Company or its affiliates to correct the error by making a corrective credit or debit transaction.
As further described in your Loan Agreement, you may defer your scheduled due date for one or two Installment Payments, depending on the frequency of your scheduled Installment Payments, at any time up to three (3) business days prior to your scheduled due date in order to give Company reasonable opportunity to act upon your request. You will incur a deferral fee per deferred Installment Payment that will be displayed to you in the MoneyLion mobile application when you make the deferment request. Throughout the life of an Overtime loan, you are allowed no more than two (2) deferrals if your Payment Schedule is on a bi-weekly or semi-monthly basis, and no more than one (1) deferral if your Payment Schedule is on a monthly basis. Deferred Installment Payments will be added to the end of your Overtime loan term. Please refer to your Loan Agreement for specific details.
It is important that you make timely payments on your Overtime loan. Late payments that remain outstanding after ten (10) days (or such longer grace period as required by applicable state law) may incur late fees. A late fee may still be imposed if you are late after a deferral. Late fees will be displayed to you in the MoneyLion mobile application. Please refer to your Loan Agreement for specific details.
Qualifying Purchases. Overtime is designed to help you pay for certain purchases you have made with your RoarMoney Account over a series of installments. A “Qualifying Purchase” is a purchase that you have made on your MoneyLion Debit Mastercard® or RoarMoney virtual card that is of minimum $50 in value. Company may also define other eligibility criteria from time to time. Company further reserves the right to pre-screen or remove various Purchases from the list of Qualifying Purchases as necessary to comply with applicable laws and regulations, and to prevent any suspicious or fraudulent activity.
Merchandise Refunds. While Overtime is intended to help you pay for Qualifying Purchases, Company does not disburse any funds to the merchant of any such Qualifying Purchases, nor do we provide any services to such merchants. Company is unable to override merchant return, refund and exchange policies. If you decide to return any Qualifying Purchases for which you wanted to pay over time and request a refund, or a return and refund are otherwise accepted or permitted by law, you will remain obligated to make all Installment Payments still outstanding under these Overtime Terms and your Loan Agreement when due.
Prohibited Activities. You agree not to use Overtime for any unlawful or fraudulent activity and to immediately contact us if you believe that your RoarMoney Account, your MoneyLion Debit Mastercard® or RoarMoney virtual card, or your MoneyLion Account (as such terms are defined in the MoneyLion Membership Agreement) may be subject to unauthorized use, account takeover or other type of fraudulent activity or security breach. By using Overtime, you agree that you will not and will not assist or enable others to do any of the following:
Breach or circumvent any applicable laws or regulations, agreements with third parties, third-party rights, or agreements with Company, including these Overtime Terms;
Provide false, inaccurate or misleading information to us;
Provide information belonging to any person other than yourself;
Use a MoneyLion Account, a RoarMoney Account, or a payment method that belongs to another person for yourself or on behalf of another person;
Use any device, software, routine, file, or other tool or technology, including but not limited to any viruses, trojan horses, worms, time bombs or cancelbots, intended to damage or interfere with Overtime or any of the Services or to surreptitiously intercept or expropriate any system, data or personal information from Overtime or the Services;
Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, including but not limited to denial of service attacks, “spam” or any other such unsolicited overload technique;
Commit unauthorized use of Overtime or any of the Services, including but not limited to, unauthorized entry into our systems, misuse of passwords, or misuses of any information posted to Overtime, the Services, or MoneyLion’s website or mobile application; or
Use Overtime or any of the Services for competitive purposes, including to reverse engineer our products and services or any of our technology or to engage in mystery shopping.
Changes to Overtime. Company reserves the right to change, modify, update, add on, discontinue, or retire Overtime or any related services, including any of the features of Overtime or any related services, at any time. Company will provide notice of any changes to Overtime or any related services by posting them to MoneyLion’s website and/or mobile application. Company has no obligation to provide you with direct notice of any such changes in any other manner except as may be required by applicable law. Should Overtime or any related service require the payment of additional fees, Company will provide you with notice and an opportunity to accept such fees. If you decline to accept such fees, Company may in its sole discretion terminate your participation in Overtime.
Transaction Data. By using Overtime, you authorize Company to access, collect or store certain Transaction Data (as such term is defined in the MoneyLion Membership Program and Services Agreement) as related to your RoarMoney Account and your Overtime loan, including to determine your eligibility for an Overtime loan. You understand and acknowledge that we may share this information with third party service providers for underwriting or verification purposes, and that they may also need to retain this information.
NO WARRANTIES. EXCEPT AS EXPRESSLY SET FORTH IN THESE OVERTIME TERMS, COMPANY MAKES NO REPRESENTATIONS OR WARRANTIES TO YOU, INCLUDING, BUT NOT LIMITED TO, ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. CLIENT ACKNOWLEDGES AND AGREES THAT ANY SYSTEMS OR SOFTWARE USED TO PROVIDE THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE.”
LIMITATION ON LIABILITY. IN NO EVENT WILL ANY PARTY TO THESE OVERTIME TERMS BE LIABLE FOR ANY LOST PROFITS OR SPECIAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES, EVEN IF INFORMED OF THE POSSIBILITY OF SUCH DAMAGES. FURTHERMORE, COMPANY MAKES NO REPRESENTATION OR WARRANTY TO YOU REGARDING THE EFFECT THAT THE OVERTIME TERMS MAY HAVE UPON YOUR FOREIGN, FEDERAL, STATE OR LOCAL TAX LIABILITY.
Indemnification. Except as provided by applicable law, you will indemnify, defend and hold harmless Company, its affiliates and parent company (and all of Company’s officers, directors, agents, subsidiaries, joint ventures, licensees, employees, and third-party partners) from any claim or demand, including demand for reasonable attorneys’ fees and litigation expenses, due to or arising out of your breach of these Overtime Terms, any Additional Terms or the Loan Agreement, any default or misrepresentation by you under these Overtime Terms, the Loan Agreement or the Additional Terms, or your use of Overtime or any related services, your application, any personal information entered in connection with signing up for Overtime or entering into these Overtime Terms, your violation of any federal, state, or local law or regulation, or your violation of the rights of any third party. Your obligations under this paragraph shall survive termination of these Overtime Terms.
Choice of Law.The provisions of these Overtime Terms will be governed by federal laws and the laws of the state of Utah without regard to any principle of conflicts of laws that would require or permit the application of the laws of any other jurisdiction.
Notice for California Users. Under California Civil Code Section 1789.3, California web users are entitled to the following specific consumer rights notice: The Services are provided by MoneyLion, P.O Box 1547, Sandy, UT 84091-1547. If you have any questions, concerns, or complaints regarding Overtime, please contact MoneyLion by either; (i) sending a letter, first class certified mail, to MoneyLion, Attn. Member Services, P.O. Box 1547, Sandy, UT 84091-1547;(ii) telephoning us at 1-888-704-6970; (iii) email us at [email protected]; or (iv) communicating with us through the chat service feature in the MoneyLion mobile application.
California residents may contact the Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs in writing at 1625 N. Market Blvd., Suite S-202, Sacramento, California 95834, or by telephone at (916) 445-1254 or (800) 952-5210 or Hearing Impaired at TDD (800) 326-2297 or TDD (916) 322-1700.
MoneyLion is a financial technology company, not a bank. RoarMoney℠ demand deposit account provided by, and MoneyLion Debit Mastercard® issued by, MetaBank®, National Association, Member FDIC. RoarMoney is a service mark of MoneyLion. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International. Funds are FDIC insured, subject to applicable limitations and restrictions, when we receive the funds deposited to your account.