***Supplemental Terms and Conditions - SpotMe Trials***
You have been selected to participate in a voluntary trial of SpotMe (“Trial”). If you choose to participate in this Trial, you will be enrolling in SpotMe for your Chime Checking Account, subject to the SpotMe Terms and Conditions below.
For the purposes of this trial, and until the earlier of (1) 30 days after your account opening or (2) the date of receipt of your first Qualifying Direct Deposit (as that term is defined in Section V below) of $200 or more, the Base Limit eligibility in Section V below shall be modified such that the Base Limit eligibility reads as follows:
- Base Limit eligibility: You must (1) have been selected to participate in the SpotMe Trials campaign, (2) have not previously opened a Chime Checking Account, (3) open a new Chime Checking Account within 30 days of agreeing to these terms, (4) activate your Chime Debit Card and maintain your account in good standing for 30 days, and (5) not have received a qualifying direct deposit in your Chime Checking Account prior to meeting requirements (1) through (4).
During the Trial Period, your SpotMe base limit will be $5. In addition, you will be eligible to receive up to one SpotMe Boost of $5 at any given time during the Trial Period, for a combined maximum SpotMe limit of up to $10. Please see section IV.B below for additional information on SpotMe Boosts.
After the expiration of these Supplemental Terms and Conditions, your account will remain enrolled in SpotMe if you meet the eligibility requirements listed in Section V below and your use of SpotMe will be governed by the SpotMe Terms and Conditions below. For details on how to cancel your use of SpotMe, please see Section XII below.
SpotMe Terms and Conditions
This is an explanation of the things you should know about “Chime SpotMe,” a product made available by The Bancorp Bank, N.A. (“Bancorp,” “we,” or “us”) on behalf of Chime Financial, Inc. (“Chime”).
The member must have an open and active Checking Account and elects to participate in Chime SpotMe.
Acceptance of Terms
This document (the “Agreement” or the “Terms”) governs your use of Chime SpotMe. By enrolling in SpotMe, you agree to be bound by the terms of this Agreement. If you do not agree to be bound by these Terms, you cannot access Chime SpotMe. If you have any questions about these Terms, please contact us at email@example.com.
Incorporation of Other Agreements
Chime SpotMe is an optional, no fee service for which you must meet certain qualification criteria (see section below for Basic Requirements criteria) and enroll in through the Chime mobile application (the “Chime Application”). Chime SpotMe enables you to draw your Chime-managed demand deposit account in your name (your “Chime Checking Account”) negative for debit card purchase transactions, ATM withdrawals, cash back transactions, or “over the counter” or OTC withdrawals (“Qualifying Transactions”) up to a specified amount (the “Limit”). This Limit is determined by Chime in its sole discretion based on the history of any Chime-branded accounts you have, direct deposit history and direct deposit amounts, spending activity and other risk-based factors.
A. Limit Adjustment by Chime
- Your Limit may be increased or decreased at any time by Chime and will always represent the maximum limit you may draw your account negative on Qualifying Transactions.
- Any changes to your Limit will be clearly communicated to the email we have on file.
- The Limit will also be displayed to you within the Chime Application.
B. Limit Changes by You
- If you do not want to access your maximum available Limit, or have it increased automatically when Chime increases your Limit, you must choose the “Personal Max” option in the Chime App. By choosing this option, your Limit will not automatically increase when Chime increases the Limit, and you must change your Personal Max manually in the Chime App in order to increase the amount of your available Limit that you access.
- For members who enrolled in SpotMe before Feb 22, 2021, you will have the Personal Max option turned on automatically and will need to turn it off if you want your Limit to be automatically increased by Chime.
- You may adjust the amount of your Personal Max that you can use at any time in the Chime App.
- Your maximum available Limit and Personal Max (if different) will be displayed to you within the Chime Application.
While there is no fee to use SpotMe, fees for related services continue to apply according to the terms associated with such services. Out-of-Network cash withdrawal fees apply as described in the Deposit Account Agreement. For example, you may be charged out-of-network ATM cash withdrawal fees when you use SpotMe at out-of-network ATMs. Third-party fees may apply to certain types of debit card transactions.
Chime SpotMe is available for debit card purchase transactions, ATM withdrawals, cash back transactions or “over the counter” or OTC withdrawals. Please note that Chime SpotMe is not available for other types of transactions, including, Pay Friends or Split Bill, Chime Checkbook, ACH transfers (including direct debits), and transfers to your Chime savings account (“Chime Savings Account”)
SpotMe Boost Description:
Chime SpotMe Boost is an optional, no fee service feature of SpotMe. SpotMe Boosts (or “Boosts”) are temporary increases to a Chime member’s SpotMe Limit. The “Limit” is the specified amount that you may draw on your Chime-managed demand deposit account in your name (your “Chime Checking Account”) negative for Qualifying Transactions. SpotMe Boost can be sent from Member to Member in which case you must meet certain qualification criteria (see Section for Boost Requirements). When a Chime SpotMe Boost is received, the receiving Chime member receives a SpotMe Limit in that amount (or for current SpotMe users, their Limit is increased by the amount of the Boost). Each SpotMe Boost may expire at the end of the calendar month that a Boost is received, or as otherwise disclosed by Chime to the member. You will be required to re-enroll. The amount per Boost is determined by Chime, in its sole discretion based on the history of any Chime-branded accounts you have and account activity.
Chime SpotMe Basic Requirements
- To enroll in Chime SpotMe members must fulfill certain basic requirements.
- You must be 18 years of age or older;
- You must have a Chime-managed demand deposit account in your name in good standing;
- You have downloaded the Chime Application from either the App Store or Google Play Store;
- You must meet one or both of the below requirements:
- Base Limit eligibility: You must have received a single deposit of $200 or more in Qualifying Direct Deposits into your Chime Checking Account over the preceding 34-day period. A “Qualifying Direct Deposit” is a direct deposit that comes from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) OR a deposit by Original Credit Transaction (OCT) from your gig economy payer. Bank ACH transfers, Pay Friends transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions are not Qualifying Direct Deposits;
- Boost Limit eligibility: In order to receive a Boost, you must opt-in to Chime’s SpotMe Terms and Conditions and receive a Boost from another member for your Chime Checking Account. When a Boost is received, the receiving Chime member’s maximum available Limit is increased. In addition, Chime may, at any time and in its sole discretion, determine additional requirements or changes to existing requirements that you must fulfill in order to enroll in Chime SpotMe.
- Signing up for Chime SpotMe does not require a check of your credit score.
- If you initially fulfill the eligibility criteria and subsequently fail to fulfill such criteria, your access to Chime SpotMe may be suspended or terminated as determined by Chime in its sole discretion. By way of example, if you opt into Chime SpotMe and subsequently stop receiving Qualifying Direct Deposits, or if you fail to meet new requirements, Chime may (a) suspend your access to Chime SpotMe until you receive the necessary direct deposits; or (b) terminate your access to Chime SpotMe.
Receiving Chime SpotMe from Chime
- Once enrolled in Chime SpotMe, Chime will approve Qualifying Transactions that result in a negative balance on your Chime Checking Account up to the Limit. If you reach the Limit, Chime will not approve any further Qualifying Transactions, until your next direct deposit or other deposit or credit arrives. In other words, if your Limit is $20, Chime will authorize Qualifying Transactions that draw your Chime Checking Account balance negative up to a balance of -$20. Your Limit will be displayed to you within the Chime Application. Chime may increase or decrease your Limit at any time in Chime’s sole discretion. You will be notified of any change to your Limit. Each time Chime SpotMe is used, you will receive an email and/or push notification that Chime approved the transaction, including the amount Chime SpotMe has covered and the updated balance in your Chime Checking Account.
- To be clear, your Limit will not appear in your Chime Checking Account as balance credit. Rather, Chime SpotMe allows you to draw your balance negative up to the Limit. Please note Chime SpotMe is only available for debit card transactions, ATM withdrawals, cash back transactions, or “over the counter” or OTC withdrawals and is not available for other types of transactions, such as, Pay Friends or Split Bill, Chime Checkbook, ACH transfers (including direct debits), and transfers to your Chime savings account (“Chime Savings Account”). These transactions will continue to be declined if there are insufficient funds in your Chime Checking Account.
Receiving Chime SpotMe Boost from Chime
- Once enrolled in Chime SpotMe and having claimed the Chime Boost, you will have access to the Chime Boost until it expires.
- If your enrollment is approved, your Limit will be displayed to you within the Chime Application. Each time Chime SpotMe Boost is used, you will receive an email and/or push notification that Chime approved the transaction, including the amount Chime SpotMe has covered by using the Chime SpotMe Boost and the updated balance in your Chime Checking Account. Chime will approve Qualifying Transactions that result in a negative balance on your Chime Checking Account up to the Limit. If you reach the Limit, Chime will not approve any further Qualifying Transactions until your next direct deposit or other deposit, or credit reduces or removes any negative balance. For example, if your Limit is $5, Chime will authorize Qualifying Transactions that draw your Chime Checking Account balance negative up to a balance of -$5. If you subsequently deposit $3 (leaving a balance of -$2), you will have $3 available in your Limit for Qualifying Transactions, until the Boost expires. Alternatively, if you deposit $5 or more, you will again have $5 available in your Limit for Qualifying Transactions, until the Boost expires.
- For avoidance of doubt, your Limit will not appear in your Chime Checking Account as balance credit. Rather, Chime SpotMe Boost allows you to draw your balance negative up to the Limit. Please note Chime SpotMe Boost is only available for Qualifying Transactions. SpotMe Boost is not available for other types of transactions, such as Pay Friends or Split Bill, Chime Checkbook, ACH transfers (including direct debits), and transfers to your Chime Savings Account. These transactions will continue to be declined if there are insufficient funds in your Chime Checking Account.
Chime SpotMe Tips
You are not required to pay any charge or fee to be eligible to receive Chime SpotMe, or in return for receiving Chime SpotMe benefits. You may, however, choose to pay a voluntary gratuity (the “tip”) when your direct deposit or other funds are deposited into your Chime Checking Account. We will present you the option to pay a “tip” within the Chime Application once the Chime SpotMe is fully repaid. Payment of a tip is optional. Payment or non-payment of a tip will not affect your eligibility to participate in Chime SpotMe, and also will not affect Chime’s approval of debit card transactions that result in a negative balance in your Checking Account via Chime SpotMe. Any tip that you provide will be displayed on your monthly account statements associated with your Chime Checking Account.
Paying Back SpotMe
When you receive a direct deposit, or when funds are otherwise deposited to your Chime Checking Account, whichever is sooner, any negative balances resulting from your use of SpotMe will be automatically repaid before bringing your balance positive. We do not charge any interest or fees for SpotMe. See “Curing a Negative Balance; Loss of Chime SpotMe Eligibility” below for additional information regarding repayment.
Curing a Negative Balance; Loss of Chime Eligibility
- By enrolling in Chime SpotMe and agreeing to these Terms, you authorize Chime to apply any deposit, including any direct deposit, to cure any negative balance in your Chime Checking Account and for payment of voluntary tips you elect to make as a result of your use of Chime SpotMe. If a Chime SpotMe negative balance is not repaid within 90 days of initially incurring a negative balance, Chime may suspend your Chime Checking Account. Chime will notify you of the steps required to avoid suspension. If your Chime Checking Account balance remains negative for 120 days, your Chime Checking Account and, if applicable, your Chime Savings Account may be closed, and any remaining positive balance will be returned to you in accordance with your Chime Deposit Account Agreement and Chime Savings Account Agreement.
Our Rights to Repayment
- You represent and warrant that you have the right to authorize us to charge your Chime Checking Account for funds due to us (to cure any negative balance) under these Terms. You will indemnify and hold Bancorp and Chime harmless from any claims by any other owner of the Chime Checking Account. If Chime cannot recoup the Chime SpotMe balance from your Chime Checking Account, Bancorp and Chime warrant that it will not have any legal or contractual claim or remedy against you based on your failure to repay in full, but you will be prohibited from obtaining another Chime SpotMe from Chime. Further, neither Bancorp or Chime will engage in any debt collection activities if the advance is not repaid on the scheduled date, place the amount advanced as a debt with or sell it to a third party, or report any failure to repay to a consumer reporting agency.
- Please note that we do not charge interest on any outstanding SpotMe negative balance, and you will only be required to repay the exact amount of the negative balance. Failure to repay a SpotMe negative balance does not affect your credit. Neither Bancorp nor Chime will furnish information about its users to credit reporting agencies or other creditors. The only consequence for not fulfilling your obligation to repay is that you will not receive another SpotMe and you may be prevented from using other Chime-managed services until the earlier funds are repaid. However, in the event of fraud, misrepresentation, or other illegal activity, we will use the legal options available to us in order to collect the money you owe us.
Cancellation By You
You may cancel your use of SpotMe at any time. To do so, you may turn “off” SpotMe on your settings page. If you cancel your use of SpotMe, Chime will not approve Qualifying Transactions that result in a negative balance on your Chime Checking Account. If you continue to meet SpotMe’ s eligibility criteria, you may re-enroll at any time.
Cancellation by Chime
We may terminate these Terms or suspend or terminate your use of Chime SpotMe for any reason at any time upon notice to you. For example, this can happen if we find out you are using Chime SpotMe in a way that violates these Terms. We will inform you of our decision via in-app notification, and you can always talk to our support team if you have questions. You agree that Chime or Bancorp will not be liable to you or any third-party for any costs, fees, or losses associated with the termination of your access to Chime SpotMe, including but not limited to, insufficient funds fees, late fees, legal fees or other charges.
CHIME SpotMe IS PROVIDED “AS IS,” “AS AVAILABLE” AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES IMPLIED BY ANY COURSE OF PERFORMANCE OR USAGE OF TRADE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. CHIME, BANCORP AND EACH OF THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES (AND THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES) DO NOT WARRANT THAT: (I) CHIME SpotMe WILL BE SECURE OR AVAILABLE AT ANY PARTICULAR TIME OR LOCATION; (II) ANY DEFECTS OR ERRORS WILL BE CORRECTED; (III) ANY CONTENT OR SOFTWARE AVAILABLE AT OR THROUGH CHIME SpotMe IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS; OR (IV) THE RESULTS OF USING CHIME SpotMe WILL MEET YOUR REQUIREMENTS. YOUR USE OF CHIME SpotMe IS SOLELY AT YOUR OWN RISK.
Indemnification, Limitation of Liability, Termination
- You agree to hold harmless and indemnify Chime and Bancorp and their subsidiaries, affiliates, officers, agents, and employees (and their subsidiaries, affiliates, officers, agents, and employees) from and against any claim, suit or action arising from or in any way related to your use of Chime SpotMe, or your violation of these Terms, including any liability or expense arising from all claims, losses, damages, suits, judgments, litigation costs, and attorneys’ fees, of every kind and nature. In such a case, Chime will provide you with written notice of such claim, suit, or action.
- IN NO EVENT SHALL CHIME OR BANCORP, NOR THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES (AND THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES), BE LIABLE UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY WITH RESPECT TO THE SERVICES (I) FOR ANY LOST PROFITS, DATA LOSS, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, COMPENSATORY OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (HOWEVER ARISING), (II) FOR ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE (REGARDLESS OF THE SOURCE OF ORIGINATION), OR (III) FOR ANY DIRECT DAMAGES IN EXCESS OF (OR IN THE AGGREGATE) OF $500.00.
Modification of Terms
Chime may, from time to time, modify these Terms. Such modifications shall be effective as soon as the modified version of the “Chime SpotMe Terms and Conditions” is posted in the Chime Application or any other authorized Chime Application distribution location. We will also send you notification of any modification of these Terms. You can determine when these Terms were last revised by referring to the “LAST UPDATED” legend at the top of the then-current version of the “Chime SpotMe Terms and Conditions” in the online application store or any other authorized Chime Application distribution location. Your use of the Chime Application following such changes constitutes your acceptance of the revised version of the “Chime SpotMe Terms and Conditions” in the online application store or any other authorized Chime Application distribution location.
- These Terms represent the entire agreement between you, Bancorp, and Chime with respect to Chime SpotMe. They supersede any other communications you have with us regarding Chime SpotMe, such as by email or phone. If any part of these Terms is found to be unenforceable or invalid, only that part will be removed or limited as needed, but the rest of these Terms will stay intact. No agency, partnership, joint venture, or employment relationship is created under this Agreement, and neither you nor Bancorp nor Chime has any authority to bind the other in any way. The paragraph headings in these Terms are for convenience only and do not affect any provision’s meaning or interpretation.
- All provisions of these Terms which by their nature shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity, and limitations of liability.
- We work with some third-party companies, such as payment processors. Chime is not responsible for any errors or damages caused by any of these third-party companies.
- This Agreement is specific to the relationship between you, Bancorp and Chime, so you cannot transfer any part of the Agreement between you and Bancorp, and Chime to anyone else, or assign any part of your relationship with Bancorp and Chime to another person or organization.
- We do not waive our rights by delaying or failing to exercise them at any time. If we decide to make a special exception and waive your obligation to follow any part of these Terms, we will notify you in writing.
- If you have any questions or concerns, please contact us at: firstname.lastname@example.org.
This Agreement is effective 03/2022