Grasshopper Bank Consumer Account Agreement

1. Important Customer Identification Notice (USA PATRIOT Act Notice)

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account through our application, we will ask for your full name, residential address, date of birth, Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and other information that will allow us and Grasshopper Bank, N.A. to identify you. We may also ask to see your driver’s license, passport, or other identifying documents.

2. General deposit account terms & conditions

General Agreement: By applying for, opening, or using a deposit account with Grasshopper Bank, N.A. ("Bank"), you agree to be bound by the terms and conditions of this Agreement, including all applicable schedules, addenda, and disclosures. The terms "you" and "your" refer to the account holder; "we", "us", and "our" refer to Grasshopper Bank, N.A., Member FDIC. The FDIC’s deposit insurance coverage only protects against the failure of an FDIC-insured bank.

Account Ownership & Operations: Your account is established as an individual consumer deposit account owned and controlled in accordance with Bank policies. The account is non-transferable without prior written approval from the Bank. You agree to maintain accurate and updated contact information, including your email address and physical address, at all times.

Deposits & Processing: Deposits may be made electronically via Automated Clearing House (ACH), remote deposit capture (RDC), wire transfer, or other methods explicitly permitted by the Bank. We reserve the right to refuse, limit, or return any deposit at our discretion. All deposits are subject to verification and final settlement.

Right of Set-Off & Security Interest: To the extent permitted by applicable law, you grant us a security interest in, and a right of set-off against, all funds held in your account(s) with us to satisfy any outstanding debt, fees, or obligations you owe to the Bank or arising from negative account balances.

Legal Process & Claims: If we are served with any legal process, including garnishment, tax levy, attachment, or court order ("Claim"), we may place a hold on your account or remit funds as required by law. You agree to indemnify and hold harmless the Bank for any actions taken in good faith compliance with legal process.

Dormancy & Escheatment: If your account remains inactive for an extended period defined by applicable state law, it may be designated as dormant. Unclaimed funds in dormant accounts will be escheated (transferred) to the appropriate state agency in compliance with state unclaimed property laws.

3. E-SIGN Act disclosure and consent

Consent to Electronic Communications: By opening an account, you consent to receive all disclosures, agreements, notices, tax forms (e.g., Form 1099-INT), monthly account statements, and communications electronically. Communications will be delivered via the mobile application, web portal, or to the primary email address associated with your account.

Hardware and Software Requirements: To access and retain electronic communications, you must have a valid email address, an internet browser supporting 256-bit encryption, a modern mobile OS (iOS/Android) or computer, and software capable of reading PDF files (such as Adobe Acrobat Reader).

Withdrawing Consent: You may withdraw your consent to electronic delivery at any time by contacting customer support. However, because electronic delivery is a condition of operating this account, withdrawing consent may result in the closure of your account.

4. Funds Availability Policy (Regulation CC summary)

Our general policy is to make funds from your electronic deposits (such as direct deposits or ACH credits) available on the business day we receive the deposit. Funds from check deposits made via Remote Deposit Capture (RDC) may be subject to holds as follows:

• Standard Holds: Funds from check deposits are generally available on the 1st to 2nd business day after the day of deposit.
• Exceptions & Longer Holds: Funds may be delayed up to 7 business days for large deposits (exceeding $5,525 in a single day), new accounts (open less than 30 days), repeatedly overdrawn accounts, or emergency conditions. We will notify you if your deposit is subject to a hold.

5. Electronic Funds Transfer (EFT) & debit card disclosures (Regulation E)

Types of Transfers: You may use your account for preauthorized direct deposits, electronic bill payments, ACH transfers, and debit card transactions (if applicable).

Consumer Liability for Unauthorized Transfers: Tell us AT ONCE if you believe your credentials or card have been lost, stolen, or compromised. Telephoning us immediately is the best way of keeping your possible losses down:

• If you notify us within 2 business days after learning of the loss/theft, your liability is limited to $50.
• If you notify us after 2 business days but within 60 days after your statement is sent, your liability is capped at $500.
• If you fail to notify us within 60 days after the statement showing unauthorized transfers was sent, you may be liable for all unauthorized transfers occurring after 60 days if we can prove we could have stopped them.

Error Resolution Procedures: In case of errors or questions about electronic transfers, contact Customer Support immediately at 1-888-895-9685 or via support email. You must contact us no later than 60 days after we sent the FIRST statement on which the problem or error appeared. Provide your name, account number, description of the suspected error, and dollar amount.

6. Truth in Savings Act (TISA) disclosures

Interest rates and APY are variable and determined at the discretion of Grasshopper Bank, N.A. Interest compounds daily and is credited monthly. Fees may reduce earnings on the account.

7. Privacy Policy & data sharing notice summary

Grasshopper Bank, N.A. respects your privacy. Nonpublic personal information (NPI) collected during account opening and maintenance is used to administer your account, process transactions, prevent fraud, and comply with legal obligations. We do NOT sell your personal information or share mobile opt-in/text message data with third parties for marketing purposes. For full details, refer to the Grasshopper Bank Privacy Notice at https://www.grasshopper.bank/legal/privacy/.