CUSTOMER ADDITIONAL TERMS OF SERVICE
Last Updated: [04/28/2021]
These Customer Additional Terms of Service (“Additional Terms”) apply to your access to and use of the Services (including the Platform) in your capacity as a customer. These Additional Terms apply in addition to, and not in lieu of, the Terms of Service. By clicking “I Accept” or by accessing or using the Services as a customer, you agree to be bound by these Additional Terms and all other terms, policies, and guidelines applicable to such Services, including, but not limited to, the Terms of Service. If you are using the Services on behalf of a business or entity, that business or entity accepts these Additional Terms. Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in the Terms of Service.
1. Customer Account.
In addition to the account security and other requirements set forth in the Terms of Service, the following terms will also apply to your use of a customer-specific account (“Customer Account”). You may make payments to 36money contracted merchants via the Platform using your linked bank account. Your bank account information will be collected and securely stored in a 36money partnered third-party financial data aggregator’s database. Your transaction history will be accessible via the Platform.
We may, at our discretion, impose limits on the amount of transactions you may conduct using the Services. These limits may change from time to time in 36money’s sole discretion. Please contact us at email@example.com for questions regarding any limits.
When your checking account is used as a funding source, you are requesting that a third-party ACH processor (“ACH Processor”) initiate on your behalf an electronic transfer from your bank account. For these transactions, the ACH Processor, and not 36money, will make electronic transfers (via the Automated Clearing House (“ACH”) of NACHA - The Electronic Payment Association (“NACHA”)) from your bank account in the amount of your purchase via the Platform. You agree that such requests constitute your authorization to the ACH Processor to make the ACH transfer, and once you have provided your authorization for the transfer, you will not be able to cancel the electronic transfer and the ACH Processor may resubmit any ACH debit you authorized that is returned for insufficient or uncollected funds, except as otherwise provided by NACHA’s ACH rules, or applicable law. If you choose to use the ACH functionality, you will be subject to the ACH Processor’s terms of service and any related agreements, and you acknowledge and agree that 36money will have no liability related to or arising from such ACH transaction.
You should confirm that your checking account contains funds sufficient to cover the amount needed for the purchase in order to complete the transaction. This will help you avoid overdraft or other fees your financial institution may charge.
If you need to revoke your authorization, please contact firstname.lastname@example.org.
You will not be charged a fee to use the Services, provided that this may change at any time, in which case you may be notified of such change via email or notification sent to your 36money account. Any fees or charges thereto will become effective immediately for transactions entered into as of the effective date. You acknowledge and agree that you may be subject to third-party fees, such as reversal fees, or ACH (defined below) insufficient fund fees that a bank may charge if your payment is rejected.
4. Refunds, Reversals, and Chargebacks
Payments may be invalidated and reversed by us if, among other reasons, we sent the payment to you in error, the funding transaction is declined or reversed, the payment was unauthorized or unfunded, the payment was rejected/declined by your originating bank because of non-sufficient funds (NSF), or if the payment was for activities that violated any agreement with us.
As the sender of a payment that is later invalidated for any reason, you may be liable to us for the full amount of the payment and we may recover the amount of the payment from you. We may recover the amount of the payment from the sender of an invalidated payment at our discretion (subject to applicable law). For example, if you send a payment funded by a bank account and the bank informs us it cannot cover the payment due to a lack of funds or a dispute, we may hold you liable for the payment, or if you were the recipient of that payment, we may reverse that payment from your account to cover the liability.
4.1 Liability Collections
You agree and acknowledge that you are responsible for the failed payment, for example, you may have insufficient funds in the bank account, rejected transaction, or frozen account. 36money offers a payback solution for the collection payments. You are able to access their previous failed transactions on the 36money customer portal, and initiate a collection payment accordingly.
First Stage of Liability Recovering
When recovering the amount of an invalid payment from you, 36money will first notify you through the email address and/or phone number associated with your 36money account; after two (2) business days, 36money will recharge the amount of payment without any additional fee.
Second Stage of Liability Recovering
If the first payment recovery is invalid for any reason, 36money will email and/or text you and notify the invalidated payment and all applied fees (see section 4.2), if you contact 36money within five (5) business days and schedule all previous invalid payments, 36money will waive all applied fees; otherwise, after five (5) business days, 36money will recharge the amount of payment plus fees.
Third Stage of Liability Recovering
If the second recovery payment is invalidated for any reason and you have not scheduled to pay off previous invalid payments, nor contacted 36money for paying off the liability, 36money will send a demand letter to your physical address. The demand letter will serve as evidence for bad checks court claims. You will be offered the option to make payments in the form of a cashier's check or money order within thirty (30) days of receiving the letter; if you do not do so, 36money will engage with Third-Party Collection services to file claims against you.
4.2 Collection Fees
If you believe that a payment initiated with your 36money account was not authorized, then you must notify us immediately, even if you (or someone else) dispute the transaction with the bank issuer or originating bank.
5. Customer Background Screening.
You acknowledge and agree that as part of our Anti-Money Laundering procedures, 36money will collect information to satisfy the Know Your Customer requirements. This means that we may request information from you due to a specific identification requirement or watch list screening process. Each customer spends anything above $500 in a single day prompts 36money to conduct additional background screening procedures, including Identification and social security number verifications.
5.1 Bank Account Validation
Before you can initiate a payment via the 36money payment service, you must first verify your bank account and routing number. In order to properly identify the bank account, you also need to provide your name that matches the bank account. 36money provides two methods for doing so: instant collection and verification using a third-party financial data aggregator (Finicity) or manual information collection.
Finicity provides the quickest way to collect and verify your banking information. Using the Finicity + 36money integration, you’re able to instantly receive a verified bank account, allowing for immediate charging.
Manually collecting and verifying bank accounts
Finicity supports instant verification for many of the most popular banks. However, if your bank is not supported by Finicity, you have the option of verifying your bank using 36money alone.
Your bank accounts require verification. When using 36money payment service without Finicity, 36money automatically sends two small deposits for this purpose. These deposits take 1-2 business days to appear on your online statement. The statement has a description that includes AMTS followed by the two micro-deposits amounts. You must relay these amounts back to 36money.
When accepting these amounts, be aware that the limit is 10 failed verification attempts. If this limit is exceeded, the bank account can’t be verified. As soon as you have these amounts, you can verify the bank account.
5.2 Bank Account Ownership Verification
To ensure a safer transaction environment, we review all accounts and activities in our system regularly. On rare occasions, we may suspend your customer’s accounts if there’s a higher than usual risk associated with your accounts, which may be attributed to your abnormal transaction volume, payment reversal, and potential fraud.
36money will immediately investigate and re-evaluate the accounts under suspension and may contact you to verify the necessary information. Other than the basic information, we might ask you to provide proof for the bank account ownership verification, and the following documentations are eligible to be used as proof:
The bank account should match the one you used for the transaction, and the name listed on your 36money customer account.
After reviewing the supporting documents and re-evaluation of the account risk, 36money will determine if you can become eligible for removing the suspension. You acknowledge and agree that the credit limit associated with your 36money account may be affected by the investigation results.
6. Receive Electronic Communications.
You acknowledge and agree that by applying for a 36money account, you will receive and view communications, notices, verification code, statements and other communications (collectively, “Disclosures”) from 36money and its affiliates, Alt Thirty Six relating to your eligible 36money accounts electronically by any of the following means:
Receiving Texts and emails. In order to receive electronic communications, you must ensure that the primary mobile phone and/or email address that you provide us is your valid, current phone number or email address, and you are able to receive at that address texts or email communications containing transaction receipts or confirmations, verification code are available for viewing and storing or printing by you. You agree to promptly update your email address by updating your Account profile if your email address changes. You acknowledge that our ability to notify you of the availability of communications is contingent on the validity of mobile phone number and email address in our records. If your mobile phone or email address is no longer valid, we reserve the right to determine your Account is inactive. You will not be able to conduct any transactions in your 36money account until you update your mobile phone number or email address in your account profile.
You acknowledge and agree that by providing your mobile phone number or email address to 36money and its affiliate, Alt Thirty Six, you will be receiving marketing materials and security information from us, such information may include product and service updates, industry news, our events, activities and offers, information about our business, account security alert, account verification code and personnel and tips.
Receiving Promotional Offer via Electronic Communications.
36money may offer limited-time promotions to you via text, email or any other marketing campaigns. These are agreements and policies that commonly apply to promotions offered by 36money.
You acknowledge and agree that:
7. Sending Credit
COMING SOON! You can send money to a friend in the form of 36money credit using the send credit feature in your 36money account. You can send credit to a friend even if they don’t have a 36money account at the time you send them credit. If the person to whom you are sending credit does not have a 36money account, they can claim it by opening a 36money account. If they don’t claim it, it will be refunded to you.
We may, at our discretion, impose limits on the amount of money you can send, including money you send for purchases.
When you send credit to a friend who has a 36money account, one of two things may happen: they may accept or decline the credit. If they decline to accept the money, the money will be refunded to the original payment method you used for the transaction.
You agree and acknowledge that the credit may take up to 3 business days to settle. In the event that the transaction is returned by your bank, the failed transaction will be posted to your 36money customer account portal.< Back
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