Jul 23, 2019

Welcome to Common!

Terms of Service

These Terms of Service (“Terms”) between Common, Pbc., its subsidiaries, affiliates, agents, service providers, and assigns (“Common,” “us,” “we,” “our”) and you (“you,” “your”), the end user of our website (www.commonbank.co) (the “Site”) and mobile app (the “App”), govern your use of our products and services we may offer through this Site from time to time, which we refer to collectively as our “Services”. You can use our Services only if you can lawfully enter into and form contracts under applicable law. If you use our Services, you must do so in compliance with these Terms and with applicable law and are responsible for ensuring any Authorized User does the same. If you do not want these Terms to apply, please do not use our Services

PLEASE READ THESE TERMS CAREFULLY, AS THEY CONTAIN AN AGREEMENT TO ARBITRATE AND OTHER IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS. THE AGREEMENT TO ARBITRATE REQUIRES (WITH LIMITED EXCEPTIONS) THAT YOU SUBMIT CLAIMS YOU HAVE AGAINST US TO BINDING AND FINAL ARBITRATION, AND FURTHER (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AGAINST COMMON ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING, (2) YOU WILL ONLY BE PERMITTED TO SEEK RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ON AN INDIVIDUAL BASIS, AND (3) YOU MAY NOT BE ABLE TO HAVE ANY CLAIMS YOU HAVE AGAINST US RESOLVED BY A JURY OR IN A COURT OF LAW.

Some of the Services may be subject to our additional terms, conditions, agreements, policies, guidelines, rules and schedules, which will be posted or made available separately from these Terms when the Service is offered (“Additional Terms”), including, without limitation, our Privacy Policy, located at commonbank.co/privacy, and the AAA Rules (described below). Such Additional Terms are incorporated into and form a part of these Terms. If there is a conflict between these Terms and the Additional Terms, the Additional Terms will control.

For purposes of these Terms, our business days are Monday through Friday. Holidays are not included.

Overview of Service

Common Bank.

In the future, our Services may include access to and maintenance of certain consumer financial products and accounts (each, a “Common Account”) offered by us via a bank partner (“Bank Partner”). You understand that we have the sole discretion to approve or deny your application for a service provided by Common in partnership with a Bank Partners per advice from the Bank Partner, or discontinue your Common Account, for any reason, subject to applicable law. We or the Bank Partner may limit or deny your access to any other aspect of the Service for any reason, subject to applicable law.

Savings.

Savings account is an account where users can set funds aside for a rainy day. These are not the same as the savings found on our marketing material on our website or on any ads or social media posts. The savings account that is referred to in any material as it pertains to “up to 10% per year” is the Community Savings account described below and detailed on our app on completion of Bank Account Activation and Debit Card activation. Non-Community Savings accounts do not earn any interest and checking accounts do not earn any interest. Even savings goals or taxes withheld do not earn any interest and should not be assumed as such. Users will be provided monthly statements that detail any interest earned and on which accounts they were earned.

Community Savings.

Community Savings is interchangeably used as Savings within Common’s marketing material. This is a special type of savings account or income asset which can earn users up to 10% per year. Common users start saving for a rainy day by creating rules to automatically move funds from Common Checking or any of their linked accounts into Community Savings. When the Community savings balance exceeds $500 then users start accumulating rewards that are auto redeemed to cash every 90 days. The rewards add up to 1/4th of the base rate of the interest described under the rewards section. The default base rate is 2.5% per year, this is not an APR. Users can increase this up to 10% by inviting friends, direct depositing with Common and using Common’s Debit Card for their financial chores and recurring bills. For every friend whom a users invites with a referral code and who successfully signs up and qualifies for a Common Account and uses the referral code during sign up, Common provides 1 reward point to both the user and the users friend. This reward point can be converted to $1 in instant cash or a 0.5% increase in the base rate e.g. 2.5 to 3% or reduce base loan rate by 0.1% e.g. 1% to 0.9% APR. So if 15 friends successfully create a common account then user can secure a life time return of 10% per year. These returns are only valid for savings in Community Savings account and start accumulating after the deposit crosses $500 and continues to do so as long as the balance does not go below $500. In the best case scenario, a user can earn up to 10% per year with 2.5% of the deposit amount greater than or equal to $500 getting redeemed for cash every 90 days also known as a term. All rewards are reset after 4 terms or 360 days. No other savings account or savings goal earns rewards or interest. User can close a Community Savings account at any time, Common will take up to 30 days to close the account and make the funds available. These terms are disclosed in entirety when activating Community Savings and only on acceptance of the terms Community Savings is activated. Users can also increase the base rate by 0.5% for every month they direct deposit with Common till it reaches a max of 10% per year. Users can also increase it by an additional 0.5% for paying one or more recurring bills such as utilities every month e.g. if a user pays one or more recurring bills as identified by us and confirmed by the user on the “Budget” screen and direct deposits one or more income streams with Common then the users base rate goes up by 1% that month and stays at that increased rate as long as they continue to do the same every month. Please note that the maximum available returns (not to be mistaken as APR or interest) on Community Savings is always 10%. For users who invite friends who qualify and create an account with us, their interest rate will stay at the new upgraded rate for life however for those relying on recurring payments and direct deposit, they need to maintain it every month to keep the returns at that rate.

Common Cash.

Common Cash is the instant financial help Common provides with the help of its community. Common users need to link existing bank accounts and/or credit cards to qualify for financial help between 0-$500. Users have 30 days to pay it back and Common tries to recover 1/30th of it daily, if available in the Common Checking Account. There are no other fees for this service. There is a base interest rate of 1% for this service however it can be reduced to 0% for life if you invite 10 friends or direct deposit with us, use the debit card at least 4 times a month and where applicable use our tax withholding service. Users have the option to voluntarily give back to the community via helping hand which is either 20c or 30c per day.

Common Draft.

Common draft is the antithesis to Overdraft and Overdraft fees, it’s Common Cash on tap. Common automatically pushes between $.01 and $100 every time your bank account balance has fallen below $100, if you prequalify for it. Once Common has pushed the $100 it becomes Common Cash and all rules defined above for Common Cash apply here as well.

Common Cents - Cash Back.

Soon Common will also allow you to receive cashback in the form of Common Cents issued to you through the Common iOS or Android App that can be redeemed for Cash into your Common Card or Common Bank account within 10 days of when you make a Qualified Purchase at participating merchants as further described below (“Cash Back via Common Cents”). Common Cents will be issued 3-5 days after making a Qualified Purchase. Once issued it can be redeemed for a payout and each payout will take an additional 3-5 days to be reflected in your Common bank account. A “Qualified Purchase” is a purchase from a participating merchant using your Common Card or any other card linked with Common in accordance with the terms of the Offer and these Terms. An "Offer" is the Common Cents offered by the merchant, which may include, but not limited to, a minimum transaction amount, expiration date, any other additional terms or limitations associated with the offer. There is a $250 cashback limit per transaction.

No Fees or Charges.

You are not required to pay any fees or charges to use any of the Services. There are no fees to obtain Common Cash, receive a Common Draft, Earn Common Cents against Community Savings or redeeming earned Common Cents for Cash. You may make voluntary additional payments in appreciation of the services rendered, but you are not required to pay any charge or fee to be eligible to receive or in return for receiving the services. These voluntary additional payments help fund Common Bank thereby allowing us to continue helping people like you and others like you.

When you enroll in Common Draft, you may select a voluntary additional amount to pay in appreciation of the services rendered each time Common Draft is automatically activated. You can turn Common Draft on or off, and/or edit your pre-selected voluntary payment amount at any time. We will also send you a monthly reminder informing you that Common Draft is still turned on and of the preselected voluntary payment amount you chose.

No Obligation to Repay.

We will have no legal or contractual claim or remedy against you based on your failure to repay, however, if we are unable to access funds from your Common bank account or any other linked Bank Account to complete a payment that you authorized Common Bank to take, you will be prevented from using the Services until you pay any outstanding authorized payment to Common Bank. Common Bank will not engage in any debt collection activities if the payout is not repaid on the scheduled date, place the payout as a debt with or sell it to a third party, or report to a consumer reporting agency concerning the amount of the payout.

Changes to These Terms; Modifications to Services

We may change provisions of these Terms at any time, including when there are changes in our Services, technology, or laws, or for other reasons. If we do, we will provide notice by posting the updated Terms on the Site. Any changed Terms will become effective immediately after they are posted and will apply prospectively to your use of our Services after the changes become effective, except that changes addressing modifications to our Services or new functions or changes made for legal reasons may be effective immediately, with or without notice to you. Your continued use following the effective date of any changes will constitute your acceptance of those changes. If you do not agree to any changed Terms, you must discontinue using our Services. We may discontinue, temporarily or permanently, our Services, or any part of our Services, or otherwise change the Services we offer with or without notice. You agree that we will not be liable to you or to any third party for any modification, suspension, or discontinuance of our Services.

Consent to Doing Business Electronically;
Communications Agreement

Because our platform operates on the Internet, you consent to transact business with us electronically. You agree that we may provide notices to you by electronic means, for example, by posting it on our website, sending you an in-App message, emailing it to an email address that you have provided us, mailing it to any postal address that you have provided us, or by sending it as a text message to any mobile phone number that you have provided us. All notices by any of these methods will be deemed received by you no later than the earlier of when received or 24 hours after sent to the contact information you provided, except for notice by postal mail, which will be deemed received by you no later than the earlier of when received or 3 business days after it is mailed to the most recent address we have on file for you.

You consent to be contacted by us, our agents, representatives, affiliates, or anyone calling on our behalf for any purpose, at any telephone number or physical or electronic address you provide or at which you may be reached. You represent that the telephone numbers that you have provided to us are your contact numbers. You represent that you are permitted to receive calls at each of the telephone numbers you have provided to us. You agree to promptly alert us whenever you stop using a particular telephone number, including a mobile telephone number.

You consent to receive SMS messages (including text messages), calls, and messages (including pre-recorded, artificial voice, and autodialed or automatically texted) from us, our agents, representatives, affiliates, or anyone calling or texting on our behalf at the specific numbers you have provided to us, or numbers we can reasonably associate with you or an Authorized User (through skip trace, caller ID capture, or other means), with information or questions relating to you or our Services. Automated messages may be played when the telephone is answered, whether by you or someone else. In the event that an agent or representative calls, he or she may also leave a message on your answering machine or voicemail, or send a message by text. Calls may be recorded.

To unsubscribe from text messages at any time, text STOP to (415) 914-9495 or reply STOP to any text message you receive from us. If you unsubscribe, we may restrict your access to your online account and/or Common Account and we may terminate your use of our Services. You consent that following such a request to unsubscribe, you may receive one final text message from us confirming your request and/or providing an alternative to access your online account and/or Common Account.

You also agree to receive alerts about your activity, rewards, balances for Common Account as well as linked accounts, loans, earnings from your high yield savings account, payments, suspicious activities, and other matters involving your use of the Site or App or the Services through push notifications to your smartphone or other device. Receipt of push notifications may be delayed or prevented by factors beyond our control, including those affecting your internet/phone provider. We are not liable for losses or damages arising from non-delivery, delayed delivery, or the erroneous delivery of any push notification; inaccurate push notification content; or your use or reliance on the content of any push notification for any purposes. Each push notification may not be encrypted, and may include your name and information pertaining to your online account or use of the Site or App. We may terminate your use of push notifications at any time without notice. You may choose to discontinue receiving push notifications by updating your preferences on your smartphone or device. You acknowledge and agree that standard call, message, and data rates charged by your carrier apply to all communications by or with us.

In the event you change or deactivate your mobile telephone number, e-mail address, mailing address, or any other contact information you have provided, you agree to promptly update your contact information.

Accessing and Using Our Services

Provision of Certain Services; Account Application. In the future, our Services may include access to and maintenance of certain consumer financial products and accounts (each, a “Common Account”) offered by us via a bank partner (“Bank Partner”). You understand that we have the sole discretion to approve or deny your application for a service provided by Common in partnership with a Bank Partners per advice from the Bank Partner, or discontinue your Common Account, for any reason, subject to applicable law. We or the Bank Partner may limit or deny your access to any other aspect of the Service for any reason, subject to applicable law.

Account Registration; Security. You may be presented with the opportunity or requirement to create an online account to use certain parts of the Site or App or to apply for or open a Common Account. When you create an online account, you may be required to pick a user name, password, and/or other access credentials. Registration data and certain other information about you are governed by our Privacy Policy. You are responsible for maintaining the confidentiality of your online account and access credentials and for restricting access to your computer and any other devices you use to access your online account, and you agree to accept responsibility for all activities that occur under your online account or access credentials. You may not assign or otherwise transfer your online account to any other person, except to the extent that applicable Additional Terms permit you to add an Authorized User. You acknowledge that we are not responsible for third party access to your online account, including access by an Authorized User and access that results from theft or misappropriation of your online account or access credentials. We reserve the right, in our sole discretion, to refuse or cancel Services, terminate online accounts, or remove or edit Content (as defined in Section 6 below). You agree to (a) immediately notify us of any unauthorized use of your access credentials or online account or any other breach of security and (b) ensure that you exit from your online account at the end of each session when accessing our Services. We will not be liable for any loss or damage arising from your failure to comply with this provision.

Authorized Users. You may in the future be permitted to add one or more Authorized Users to your Common Account(s) or permit an Authorized User to use the Services. Subject to approval, this may include your spouse or minor child(ren). Any minor who uses the Services must do so only as authorized by their parent or legal guardian, who must themselves be of majority age. You acknowledge that these Terms will apply to you and each Authorized User, and you hereby expressly accept these Terms on behalf of yourself and each Authorized User. You further agree to and accept full responsibility for any Authorized User’s use our Services, including but not limited to (a) any transactions made by an Authorized User on your Common Account; (b) any transaction made by an Authorized user even if the post date shown on your statement for that transaction occurs after the date you ask us to remove the Authorized User from your Common Account; (c) any transaction made by others if an Authorized User allows them to use your Common Account; (d) Fees and charges resulting from any transaction made by an Authorized User or others if an Authorized User allows them to use your Account; and (e) any other financial charges and legal liability that an Authorized User may incur in connection with their use of your Common Account or an online account. You allow us to discuss your Common Account with an Authorized User, which includes giving him or her access to your transaction history and Common Account information. You also agree that an Authorized User may use and receive information about the Common Account the same way you do. By adding an Authorized User, you represent that you have permission from each one to allow us to share information about him or her as allowed by applicable law. This includes information we may get from you, any Authorized User, and information about their transactions and use of the Services.

Service Details

Common Bank.

In the future, our Services may include access to and maintenance of certain consumer financial products and accounts (each, a “Common Account”) offered by us via a bank partner (“Bank Partner”). You understand that we have the sole discretion to approve or deny your application for a service provided by Common in partnership with Bank Partners per advice from the Bank Partner, or discontinue your Common Account, for any reason, subject to applicable law. We or the Bank Partner may limit or deny your access to any other aspect of the Service for any reason, subject to applicable law.

Savings.

Savings account is an account where users can set funds aside for a rainy day. These are not the same as the savings found on our marketing material on our website or on any ads or social media posts. The savings account that is referred to in any material as it pertains to “up to 10% per year” is the Community Savings account described below and detailed on our app on completion of Bank Account Activation and Debit Card activation. Non-Community Savings accounts do not earn any interest and checking accounts do not earn any interest. Even savings goals or taxes withheld do not earn any interest and should not be assumed as such. Users will be provided monthly statements that detail any interest earned and on which accounts they were earned.

Community Savings.

Community Savings is interchangeably used as Savings within Common’s marketing material. This is a special type of savings account or income asset which can earn users up to 10% per year. Common users start saving for a rainy day by creating rules to automatically move funds from Common Checking or any of their linked accounts into Community Savings. When the Community savings balance exceeds $500 then users start accumulating rewards that are auto redeemed to cash every 90 days. The rewards add up to 1/4th of the base rate of the interest described under the rewards section. The default base rate is 2.5% per year, this is not an APR. Users can increase this up to 10% by inviting friends, direct depositing with Common and using Common’s Debit Card for their financial chores and recurring bills. For every friend whom a users invites with a referral code and who successfully signs up and qualifies for a Common Account and uses the referral code during sign up, Common provides 1 reward point to both the user and the users friend. This reward point can be converted to $1 in instant cash or a 0.5% increase in the base rate e.g. 2.5 to 3% or reduce base loan rate by 0.1% e.g. 1% to 0.9% APR. So if 15 friends successfully create a common account then user can secure a life time return of 10% per year. These returns are only valid for savings in Community Savings account and start accumulating after the deposit crosses $500 and continues to do so as long as the balance does not go below $500. In the best case scenario, a user can earn up to 10% per year with 2.5% of the deposit amount greater than or equal to $500 getting redeemed for cash every 90 days also known as a term. All rewards are reset after 4 terms or 360 days. No other savings account or savings goal earns rewards or interest. User can close a Community Savings account at any time, Common will take up to 30 days to close the account and make the funds available. These terms are disclosed in entirety when activating Community Savings and only on acceptance of the terms Community Savings is activated. Users can also increase the base rate by 0.5% for every month they direct deposit with Common till it reaches a max of 10% per year. Users can also increase it by an additional 0.5% for paying one or more recurring bills such as utilities every month e.g. if a user pays one or more recurring bills as identified by us and confirmed by the user on the “Budget” screen and direct deposits one or more income streams with Common then the users base rate goes up by 1% that month and stays at that increased rate as long as they continue to do the same every month. Please note that the maximum available returns (not to be mistaken as APR or interest) on Community Savings is always 10%. For users who invite friends who qualify and create an account with us, their interest rate will stay at the new upgraded rate for life however for those relying on recurring payments and direct deposit, they need to maintain it every month to keep the returns at that rate.

Common Cash.

Common Cash is the instant financial help Common provides with the help of its community. Common users need to link existing bank accounts and/or credit cards to qualify for financial help between 0-$500. Users have 30 days to pay it back and Common tries to recover 1/30th of it daily, if available in the Common Checking Account. There are no other fees for this service. There is a base interest rate of 1% for this service however it can be reduced to 0% for life if you invite 10 friends or direct deposit with us, use the debit card at least 4 times a month and where applicable use our tax withholding service. Users have the option to voluntarily give back to the community via helping hand which is either 20c or 30c per day. In the event users are unable to pay back within 30 days, then Common will provide a one time courtesy period of 30 days to payback. When you accept these terms you are also explicitly consenting to Common deducting 1/30 on a daily basis and in the event the full amount is not collected or paid within 30 days, Common can deduct the remaining amount from any of your linked depository accounts. You can only qualify for one Common Cash at any given time, you will not be able to access any other loan product while an active disbursement of Common Cash has not been paid back fully. If payments are not completed within 30 days, you will be unable to access or redeem any rewards from Common or make any deposits to Community Savings that can earn rewards.

We may limit the Common Cash that you may receive at any given time or over a period of time. We may decline to extend a Common Cash to you if we reasonably believe such refusal is necessary or advisable for legal or security reasons or to protect the Services. If you generally fail to maintain a balance in your Common bank account or linked Bank Account that is sufficient to cover your repayment of Common Cash, we may decline to allow you to obtain Common Cash for as long as we determine to be necessary or appropriate.

Common Draft. Common draft is the antithesis to Overdraft and Overdraft fees, it’s Common Cash on tap. Common automatically pushes between $.01 and $100 every time your bank account balance has fallen below $100, if you prequalify for it. Once Common has pushed the $100 it becomes Common Cash and all rules defined above for Common Cash apply here as well.

We may limit the amount we send you for Common Draft at any given time or over a period of time. We may decline to offer Common Draft to you at any time if we reasonably believe such refusal is necessary or advisable for legal or security reasons or to protect the Services. If you’ve already taken out Common Cash we will decline to send you a payout under Common Draft. We may also decline to send you a payout under Common Draft if you don’t have direct deposit enabled to your account, or if we were unable to connect to your bank account, or if your Common Bank account or any linked Bank Accounts is on hold.

Common Cents - Cash Back.

Soon Common will also allow you to receive cashback in the form of Common Cents issued to you through the Common iOS or Android App that can be redeemed for Cash into your Common Card or Common Bank account within 10 days of when you make a Qualified Purchase at participating merchants as further described below (“Cash Back via Common Cents”). Common Cents will be issued 3-5 days after making a Qualified Purchase. Once issued it can be redeemed for a payout and each payout will take an additional 3-5 days to be reflected in your Common bank account. A “Qualified Purchase” is a purchase from a participating merchant using your Common Card or any other card linked with Common in accordance with the terms of the Offer and these Terms. An "Offer" is the Common Cents offered by the merchant, which may include, but not limited to, a minimum transaction amount, expiration date, any other additional terms or limitations associated with the offer. There is a $250 cashback limit per transaction.

Not all Visa, MasterCard, and American Express cards are eligible for registration. Visa, MasterCard, and American Express Corporate cards, Visa, MasterCard, and American Express Purchasing cards, non-reloadable prepaid cards, government-administered prepaid cards (including EBT cards), healthcare (including Health Savings Account (HSA) or Flexible Spending Account (FSA) or insurance prepaid cards, Visa Buxx, and Visa-, MasterCard-, and American Express-branded cards whose transactions are not processed through the Visa U.S.A payment system, MasterCard payment system, and/or American Express payment system are not eligible to participate.

Not all transactions with your registered Visa, MasterCard and American Express card are tracked by Visa, MasterCard and American Express. You acknowledge that Visa, MasterCard, and American Express may be unable to monitor every transaction made with your enrolled Visa, MasterCard, or American Express card, including PIN-based purchases, purchases you initiate through identification technology that substitutes for a PIN, payments made through other payment methods (such as a digital wallet or a third party payment app, where you may choose your Visa, MasterCard, or American Express card as a funding source but you do not present your card directly to the merchant), payments of existing balances, balance transfers, or transactions that are not processed or submitted through the Visa U.S.A., MasterCard, and American Express payment systems, and that these transactions are not eligible.

If you register a debit card, your transaction must be processed as a ‘credit’ (i.e., signature) transaction to make sure the transaction can be monitored. Do not use a Personal Identification Number (PIN) when paying for your purchases with your enrolled card if you want the transaction to be eligible for rewards or offer completion.

Please note that we use Empyr, Inc and others as our service providers to help us operate our program. Your payment card may only be enrolled in one program operated by these providers. If you have already enrolled a payment card with a separate program operated by our service providers, you will be unable to register that card in both Common Bank and other operated programs. You may enroll another payment card in Common’s rewards program or deactivate your card in the other program where it’s registered.

Common Cents Credits

Common Cents statement credits will not appear or be reflected on your transaction receipt from the Merchant at the time of purchase, and will instead be reflected as part of the rewards received from Common and when redeemed by you on Common for cash. Subject to eligibility verification and settlement of the Qualifying Transaction, statement credits will typically appear as part of your Common Cents balance within approximately 10 days of the qualifying transaction, but may be subject to delays.

Common Cents - Cash Back Statement credits cannot be processed if your card number expires or changes while the statement credit is pending and not settled, or your card account is not open or in good standing. You may not receive a statement credit if it is not posted by your card issuer. Common, the applicable card network, and your issuer of other Cards registered with Common have no responsibility or liability for the failure of a statement credit to be posted, or for any finance or other charge, or impact on any rewards, feature, or term of your account resulting from the statement credit.

In no event will the applicable card network be considered as maintaining any type of financial obligation or deposit or other asset account, or holding funds or other value for you for distribution to you. Any pending statement credits and any associated dollar values represent offer fulfillment amounts in process owed by the applicable merchant, and not your funds or balances maintained or held by the payment card network or Common.

Common may choose to share a portion of its publisher fee with its customers, but is not required to share any portion and may cease sharing its portion at any time, with or without notice.

Your Use of the Services

Your right to access and use the Site and use the Services is personal to you and is not transferable by you to any other person or entity unless it’s an authorized user as described in our terms, and you may only access and use the Sites and Services for lawful purposes.

When you request Common Cash or turn on Common Draft, you warrant that the payout is just and that you have not received similar payout as an authorized used on a different Common Account.

We will recoup payment for Common Cash or Common Draft directly from your Common or linked bank account on the 30th day from the time it was dispersed and as described in the terms will also attempt to collect 1/30 on a daily basis from your Common Bank Account if a balance exists to the extent that within a 30 day period the full principal or borrowed amount is retrieved by Common. If Common is unable to collect 1/30 on one of the 30 days then it will automatically adjust the next installment to fit the 30 day window. Common will collect the helping hand as well if you voluntarily chose to do so while accepting the terms for Common Cash or Common Draft. By requesting Common Cash or turning on Common Draft, you authorize us to initiate debit and credit entries to your linked bank account if necessary, or if you link an external debit or credit card to your account, you authorize us to charge your debit card, for all payments due to us. You agree to maintain a balance that is sufficient to fund all payments you initiate. Common Bank reserves the right to charge your Common or linked bank account at any time on or after the 30th day from the day it was dispersed to your Common bank account in addition to the attempt Common will make to collect 1/30th of the payable amount on a daily basis. It should be noted that Common will not be doing both, it will first attempt to collect 1/30th on a daily basis and adjust the daily installments to fit the 30 day window and only if there is any amount still pending on the 30th day it will take the previously described steps; however, Common will attempt to avoid charging your bank account if we believe your bank account does not contain sufficient funds to cover repayment of Common Cash or Common Draft. Our failure to charge your bank account for repayment within a set amount of time does not constitute a waiver of our right to charge your account for such funds. You represent and warrant that you have the right to authorize us to charge your account for payments due to us under these Terms. You will indemnify and hold Common harmless from any claim by any other owner of the account.

Commons’ authorization to initiate debit and credit entries to your Common or linked bank account will remain in full force and effect until you revoke your authorization. If you wish to revoke your authorization, you may do so by contacting support@commonbank.co at least three business days before the day the transaction is scheduled and stop using the Sites and the Services. Please note that your revocation of authorization when transactions are pending could result in delays to your receipt of funds and additional charges owed by you to Common. You are responsible for any costs or damages related to the timing of authorization revocation.

If we are unable to access funds from your bank account to complete a payment that is owed to Common, we will have no legal or contractual claim or remedy against you based on your failure to repay, however, you will be prevented from using the Services until you repay any outstanding balance owed to Common. Common will not engage in any debt collection activities if the payout is not repaid on the scheduled date, place the payout as a debt with or sell it to a third party, or report to a consumer reporting agency concerning the amount of the payout. You further agree that:

  • you will reimburse Common for any fees imposed on us as a result of the failed transaction; and

  • you will reimburse Common for any fees we incur in attempting to debit the amount of the failed transaction from you.

Common is not responsible for any overdraft fees, over-the-limit fees, or insufficient fund charges (including finance charges, late fees, or similar charges) that result from your failure to maintain a balance or available credit in the Common or any linked bank account that is sufficient to fund all payments you initiate.

Accurate records enable us to provide the Sites and Services to you. You must provide true, accurate, current, and complete information about your accounts maintained at Third Party Sites (“Account Information”), and you may not misrepresent any Account Information. In order for the Services to function effectively, you must also keep your Account Information up to date and accurate. If you do not do this, the accuracy and effectiveness of the Services provided to you will be affected. You represent that you are a legal owner of, and that you are authorized to provide us with, all Account Information and other information necessary to facilitate your use of the Services.

In order to allow you to use certain Services, we may be required to verify your identity. You authorize us to make any inquiries we consider necessary to validate your identity. These inquiries may include asking you for further information, requiring you to provide a taxpayer identification number, requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report (not the same as a credit check or a hard pull that impacts your credit score), or verifying information you provide against third party databases or through other sources. If you do not provide this information or we cannot verify your identity, we can decline to allow you to use the Services.

Your access and use of the Sites or Services may be interrupted from time to time for any of several reasons, including the malfunction of equipment, periodic updating, maintenance or repair of the Service, or other actions that Common, in its sole discretion, may elect to take. In no event will Common be liable to any party for any loss, cost, or damage that results from any period of downtime of the Sites or Services.

Mobile Services; Special Terms Regarding Apple-Enabled Software Applications

We may offer Services that are available via a mobile device, including the ability to access certain features through the App (collectively, the “Mobile Services”). To the extent you access our Services, or send or receive any communications with us through a mobile device, your wireless service carrier’s standard charges, data rates, and other fees may apply. In addition, downloading, installing, or using certain Mobile Services may be prohibited or restricted by your carrier, and not all Mobile Services may work with all carriers or devices. By using our Mobile Services, you agree that we may communicate with you by SMS, MMS, text message, or other electronic means to your mobile device and, as a result, that certain information about your usage of our Mobile Services may be communicated to us.

The App and other Software (defined below in Section 10(a)) may be made available through the Apple, Inc. (“Apple”) App Store, Android Marketplace or other distribution channels (“Distribution Channels”). If you obtain such Software through a Distribution Channel, you may be subject to additional terms of the Distribution Channel. These Terms are between you and us only, and not with the Distribution Channel. To the extent that you use any other third party products and services in connection with your use of our Services, you agree to comply with all applicable terms of any agreement for such third party products and services.

With respect to Software that is made available for your use in connection with an Apple-branded product (such Software, “Apple-Enabled Software”), in addition to the other terms and conditions set forth in these Terms, the following terms and conditions apply:

  1. Common and you acknowledge that these Terms are between Common and you only, and not with Apple, and that as between Common and Apple, Common, not Apple, is solely responsible for the Apple-Enabled Software and its content.

  2. You may not use the Apple-Enabled Software in any manner that is in violation of or inconsistent with the Usage Rules set forth for Apple-Enabled Software in, or otherwise be in conflict with, the Apple App Store Terms of Service.

  3. Any license we may give you to use the Apple-Enabled Software is limited to a non-transferable license to use the Apple-Enabled Software on an iOS product that you own or control, as permitted by the Usage Rules set forth in the Apple App Store Terms of Service.

  4. Apple has no obligation whatsoever to provide any maintenance or support services with respect to the Apple-Enabled Software.

  5. Apple is not responsible for any product warranties, whether express or implied by law. In the event of any failure of the Apple-Enabled Software to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price for the Apple-Enabled Software to you, if any; to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to the Apple-Enabled Software, or any other claims, losses, liabilities, damages, costs, or expenses attributable to any failure to conform to any warranty, which will be Common’s sole responsibility, to the extent it cannot be disclaimed under applicable law.

  6. Common and you acknowledge that Common, not Apple, is responsible for addressing any claims of you or any third party relating to the Apple-Enabled Software or your possession and/or use of that Apple-Enabled Software, including: (i) product liability claims; (ii) any claim that the Apple-Enabled Software fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation.

  7. In the event of any third party claim that the Apple-Enabled Software or the end-user’s possession and use of that Apple-Enabled Software infringes that third party’s intellectual property rights, as between Common and Apple, Common, not Apple, will be solely responsible for the investigation, defense, settlement, and discharge of any such intellectual property infringement claim.

  8. You represent and warrant that (i) you are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country; and (ii) you are not listed on any U.S. Government list of prohibited or restricted parties.

  9. If you have any questions, complaints or claims with respect to the Apple-Enabled Software, they should be directed to Common as follows:

    • By e-mail: support@commonbank.co

    • By mail: Common, PBC., 353 Sacramento St, San Francisco, CA 94111

Common and you acknowledge and agree that Apple, and Apple’s subsidiaries, are third party beneficiaries of these Terms with respect to the Apple-Enabled Software, and that, upon your acceptance of these Terms, Apple will have the right (and will be deemed to have accepted the right) to enforce these Terms against you with respect to the Apple-Enabled Software as a third party beneficiary.

Prohibited Activities

You are solely responsible for all code, video, images, information, data, text, software, music, sound, photographs, graphics, messages, or other materials (“Content”) that you upload, post, publish, or display (hereinafter, “Upload”), email, or otherwise use via our Services. The following are examples of the kind of Content and/or use that is illegal or prohibited. We reserve the right to investigate and take appropriate legal action against anyone who, in our sole discretion, violates this section, including removing the offending Content from our Services, suspending or terminating the online account(s) and/or Common Account(s) of such violators, and reporting such violators to law enforcement authorities. You agree to not use our Services to:

  1. Email or otherwise Upload any Content that (i) infringes any intellectual property or other proprietary rights of any party; (ii) you do not have a right to Upload under any law or under contractual or fiduciary relationships; (iii) contains software viruses or any other computer code, files, or programs designed to interrupt, destroy, or limit the functionality of any computer software or hardware or telecommunications equipment; (iv) poses or creates a privacy or security risk to any person; (v) constitutes unsolicited or unauthorized advertising, promotional materials, commercial activities and/or sales, “junk mail,” “spam,” “chain letters,” “pyramid schemes,” “contests,” “sweepstakes,” or any other form of solicitation; (vi) is unlawfol, harmful, threatening, abusive, harassing, tortious, excessively violent, defamatory, vulgar, obscene, pornographic, libelous, invasive of another’s privacy, hateful racially, ethnically, or otherwise objectionable; or (vii) in our sole judgment, is objectionable or which restricts or inhibits any other person from using or enjoying our Services, or which may expose us or our users to any harm or liability of any type;

  2. Interfere with or disrupt our Services, servers, or networks connected to our Services, or disobey any requirements, procedures, policies, or regulations of networks connected to our Services;

  3. Violate any applicable local, state, national, or international law, or any regulations having the force of law;

  4. Impersonate any person or entity, or falsely state or otherwise misrepresent your affiliation with a person or entity;

  5. Solicit personal information from anyone under the age of 18;

  6. Harvest or collect email addresses or other contact information of other users from our Services by electronic or other means for the purposes of sending unsolicited emails or other unsolicited communications;

  7. Advertise or offer to sell or buy any goods or services for any business purpose that is not specifically authorized;

  8. Further or promote any criminal activity or enterprise or provide instructional information about illegal activities; or

  9. Obtain, or otherwise attempt to access or obtain, any materials or information through any means not intentionally made available or provided for through our Services.

Territorial Restrictions.

Software available in connection with our Services and the transmission of applicable data, if any, is subject to United States export controls. No Software may be downloaded from our Services or otherwise exported or re-exported in violation of U.S. export laws. Downloading or using our Services is at your sole risk. Recognizing the global nature of the Internet, you agree to comply with all domestic and foreign laws regarding your use of our Services, including as it concerns online conduct and acceptable Content.

Commercial Use Prohibited.

All Services we offer are intended solely for your personal use. Unless otherwise expressly authorized in these Terms or in our Services, you agree not to use, display, distribute, license, perform, publish, reproduce, duplicate, copy, create derivative works from, modify, sell, resell, exploit, transfer, or upload for any commercial purposes our Services or any part of our Services, including use of or access to our Services, or those of third parties.

Illegal Transactions and Internet Gambling

You must not use our Services, including the Mobile Services, Services accessed through our Site, and your Common Account, for any illegal purpose or internet gambling. You must not use your Common Account to fund any account that is set up to facilitate internet gambling. We, Bank Partner or any service provider may deny transactions or authorizations from merchants that are apparently engaged in or are identified as engaged in the internet gambling business.

Intellectual Property Rights

  1. Services Content, Software, and Trademarks. You acknowledge and agree that our Services may contain Content or features (“Services Content”) that are protected by copyright, patent, trademark, trade secret, or other proprietary rights and laws. Except as expressly authorized by us, you agree not to modify, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on our Services or the Services Content, in whole or in part, except that the foregoing does not apply to your own User Content (as defined below in Section 10(c)) that you legally Upload to our Services. In connection with your use of our Services you will not engage in or use any data mining, robots, scraping, or similar data gathering or extraction methods. If you are blocked by us from accessing our Services (including by blocking your IP address), you agree not to implement any measures to circumvent such blocking (e.g., by masking your IP address or using a proxy IP address). Any use of our Services or the Services Content other than as specifically authorized in these Terms is strictly prohibited. The technology and software underlying our Services or distributed in connection with our Services are the property of Common, our affiliates, and our partners (the “Software”). You agree not to copy, modify, create a derivative work of, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, or otherwise transfer any right in the Software. Any rights not expressly granted in these Terms are reserved by us. The Common name and logos are our trademarks and service marks (collectively the “Common Trademarks”). Other product and service names and logos used and displayed via our Services may be trademarks or service marks of their respective owners who may or may not endorse or be affiliated with or connected to us. Nothing in these Terms, any Additional Terms or our Services should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any of the Common Trademarks displayed on our Services, without our prior written permission in each instance. All goodwill generated from the use of Common Trademarks will inure to our exclusive benefit.

  2. Third Party Material. Under no circumstances will we be liable in any way for any Content or materials of any third parties (including users), including for any errors or omissions in any Content, or for any loss or damage of any kind incurred as a result of the use of any Content. You acknowledge that we do not pre-screen Content, but that we and our designees will have the right (but not the obligation) in our and their sole discretion to refuse or remove any Content that is available via our Services. Without limiting the foregoing, we and our designees will have the right to remove any Content that violates these Terms or is deemed by us, in our sole discretion, to be otherwise objectionable. You agree that you must evaluate, and bear all risks associated with the use of any Content, including any reliance on the accuracy, completeness, or usefulness of such Content.

  3. User Content Transmitted Through our Services. With respect to the Content or other materials you Upload through our Services or share with other users or recipients (collectively, “User Content”), you represent and warrant that you own all right, title, and interest in and to such User Content, including all copyrights and rights of publicity. By Uploading any User Content you grant us and our affiliates a nonexclusive, worldwide, royalty free, fully paid up, transferable, sublicensable, perpetual, and irrevocable license to copy, display, upload, perform, distribute, store, modify, and otherwise use your User Content solely in connection with the operation of our Services in any form, medium, or technology now known or later developed. You acknowledge and agree that any questions, comments, suggestions, ideas, feedback, or other information about our Services, submitted by you to us are non-confidential, and we will be entitled to the unrestricted use and dissemination of these submissions for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You understand that the technical processing and transmission of our Services, including your User Content, may involve transmissions over various networks and changes to conform and adapt to technical requirements of connecting networks or devices.

Referral Program

  1. Referral Program.We may offer users the opportunity to participate in a program that rewards users for referring their co-workers, friends and family members to Common (“Referral Program”).

  2. Earning Rewards. Eligible users will have the opportunity to receive a promotional reward each time you refer a co-worker, friend or family member to Common using a referral code issued to you by Common when you create an online account. In order to earn rewards, you must provide your unique referral code to your friend, your friend must enter your unique referral code when he or she signs up for an online account, and both you and the friend you referred must open, or become Authorized Users of, separate Common Accounts. When this occurs, Common will credit one Reward that can be redeemed for U.S. Dollar ($1.00) or an increase of base interest of 2.5% on Community Savings Account by 0.5% for life or reduce base interest rate of 1% on loan by 0.1% for life on your Common Account and one reward to the Common Account of the friend you referred who can do the same. You may only earn one reward per Common Account opened by a friend you referred, even if you referred two or more friends who each become owners or Authorized Users of the same Common Account. You may not earn rewards for referring an individual who becomes an Authorized User of your Common Account, or for referring an individual that opens a Common Account on which you are or become an Authorized User.
    You may not earn any rewards if your Common Account is past due, canceled, has a returned payment outstanding, or is otherwise in default.
    Rewards are issued solely for loyalty, awards, and promotional purposes. You may not use your rewards for a business or commercial purpose. Rewards have no cash value until and unless Common credits your Common Account, as described above. Rewards are not your property and you can’t transfer rewards to any other person. Rewards can’t be transferred by operation of law, such as by inheritance, bankruptcy, or in connection with a divorce. Rewards remain the property of Common until Common credits them to your Common Account. Common reserves the right to decline to credit your account for rewards earned at any time and for any reason, subject to applicable law.
    If we, in our sole discretion, determine that you have engaged in abuse, misuse, or fraud in connection with earning rewards or that you attempt to do so, we may take any action, including: (i) take away any rewards in your Common Account; (ii) temporarily suspend your ability to earn rewards or receive a credit to your Common Account for rewards previously earned; (iii) terminate your participation in the Rewards Program; and/or (v) cancel your online account and/or Common Account.

  3. Amendments, Restrictions, Termination. We may add to, terminate, and/or change the Referral Program at any time with or without notice to you. For example, we could change the amount of rewards you can earn for referrals, impose caps and/or fees on earning and/or using rewards, place restrictions on or terminate your ability to earn or redeem rewards, terminate your membership in the Referral Program, or terminate all or parts of the Referral Program. You acknowledge that in the event we make these changes, you may no longer be able to earn rewards.
    If you or we close one or more of your Common Account(s) for any reason, we may immediately require you to forfeit all of your ability to earn rewards.

  4. Fees, Taxes. There is no fee to participate in the Referral Program. It is your responsibility to find out if you are liable for any federal, state, or local taxes as a result of earning rewards.

Third Party Websites

Our Services may provide, or third parties may provide, links or other access to other sites and resources on the Internet. We have no control over such sites and resources, and we are not responsible for and do not endorse such sites and resources. You further acknowledge and agree that we will not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any Content, events, goods, or services available on or through any such site or resource. Any dealings you have with third parties found while using our Services are between you and the third party, and you agree that we are not liable for any loss or claim that you may have against any such third party.

You may enable or log in to certain Services via various online third party services, such as social media and social networking services like Facebook or Twitter (“Social Networking Services”). To take advantage of this feature and capabilities, we may ask you to authenticate, register for, or log into Social Networking Services on the websites of their respective providers. As part of such integration, the Social Networking Services will provide us with access to certain information that you have provided to such Social Networking Services, and we will use, store, and disclose such information in accordance with our Privacy Policy. For more information about the implications of activating these Social Networking Services and our use, storage, and disclosure of information related to you and your use of such Social Networking Services in connection with the Services (including your friend lists and the like), please see our Privacy Policy at commonbank.co/privacy. However, please remember that the manner in which Social Networking Services use, store, and disclose your information is governed solely by the policies of such third parties, and we have no liability or responsibility for the privacy practices or other actions of any third party site or service that may be enabled within the Service. In addition, we are not responsible for the accuracy, availability, or reliability of any information, Content, goods, data, opinions, advice, or statements made available in connection with Social Networking Services. As such, we are not liable for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such Social Networking Services. We enable these features merely as a convenience and the integration or inclusion of such features does not imply an endorsement or recommendation.

Indemnity and Release

You agree to release, indemnify, and hold us, our third party product providers, our and their affiliates, officers, employees, directors, and agents harmless from any and all losses, damages, fines, penalties, fees, costs and expenses, including reasonable attorneys’ fees, claims, actions of any kind, and injury (including death) arising out of or relating to your use of our Services, any Content, your connection to our Services, your violation of these Terms, or your violation of any rights of another. If you are a California resident, you waive California Civil Code Section 1542, which says: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” If you are a resident of another jurisdiction, you waive any comparable statute or doctrine.

Disclaimer of Warranties

YOUR USE OF OUR SERVICES IS AT YOUR SOLE RISK. OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT OUR SERVICES WILL MEET YOUR REQUIREMENTS, THAT OUR SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, THAT THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF OUR SERVICES WILL BE ACCURATE OR RELIABLE, OR THAT THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL OBTAINED BY YOU THROUGH OUR SERVICES WILL MEET YOUR EXPECTATIONS.

Limitation of Liability

YOU EXPRESSLY UNDERSTAND AND AGREE THAT COMMON AND ANY THIRD PARTY PRODUCT PROVIDERS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS, INCLUDING DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF COMMON HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (a) THE USE OR THE INABILITY TO USE OUR SERVICES; (b) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED, OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM OUR SERVICES; (c) UNAUTHORIZED ACCESS TO, OR ALTERATION OF, YOUR TRANSMISSIONS OR DATA; (d) STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON OUR SERVICES; OR (e) ANY OTHER MATTER RELATING TO OUR SERVICES. IN NO EVENT WILL COMMON’S TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, OR CAUSES OF ACTION EXCEED THE AMOUNT YOU HAVE PAID COMMON IN THE LAST SIX (6) MONTHS OR, IF GREATER, $100. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF OUR SERVICES OR WITH THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF OUR SERVICES.

Termination

You agree that we, in our sole discretion, may suspend, restrict access to, or terminate your online account (or any or all of your Common Account(s)) or use of our Services and remove and discard any Content within our Services, for any reason, including for lack of use or if we believe that you have violated or acted inconsistently with the letter or spirit of these Terms. Any suspected fraudulent, abusive, or illegal activity that may be grounds for termination of your use of our Services may be referred to appropriate law enforcement authorities. You agree that any termination of your access to our Services under any provision of these Terms may be effected without prior notice, and acknowledge and agree that we may immediately deactivate or delete your online account and all related information and files in your online account and/or bar any further access to such files or our Services, subject to applicable law. Further, you agree that we will not be liable to you or any third party for any termination of your access to our Services.

Interactions with Other Users

You agree that you are solely responsible for your interactions with any other user in connection with our Services, and we will have no liability or responsibility with respect your interactions. We reserve the right, but has no obligation, to become involved in any way with disputes between you and any other user of our Services.

General

These Terms constitute the entire agreement between you and us and govern your use of our Services, superseding any prior agreements between you and us with respect to our Services. You also may be subject to additional terms and conditions that may apply when you use affiliate or third party services, third party Content, or third party software. These Terms will be governed by the laws of the State of California without regard to its conflict of law provisions. With respect to any disputes or claims not subject to arbitration, as set forth below, you and we agree to submit to the personal and exclusive jurisdiction of the state and federal courts located within San Francisco County, California. Our failure to exercise or enforce any right or provision of these Terms will not constitute a waiver of such right or provision. If any provision of these Terms is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of our Services or these Terms must be filed within one (1) year after such claim or cause of action arose or be forever barred. A printed version of these Terms and of any notice given in electronic form will be admissible in judicial or administrative proceedings based upon or relating to these Terms to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. You may not assign these Terms without our prior written consent, but we may assign or transfer these Terms, in whole or in part, without restriction.

State Disclosures

California Residents. Under California Civil Code Section 1789.3, users from California are entitled to the following specific consumer rights notice: The Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs may be contacted in writing at 1625 North Market Blvd., Suite N 112, Sacramento, CA 95834, or by telephone at (916) 445-1254 or (800) 952-5210.

A married applicant may apply for a separate account. If Bank Partner takes any adverse action pursuant to § 1785.3 of the California Civil Code and the adverse action is based, in whole or in part, on any information contained in a consumer credit report, you have the right to obtain within 60 days a free copy of your consumer credit report from the consumer reporting agency who furnished the consumer credit report and from any other consumer credit reporting agency that complies and maintains files on consumers on a nationwide basis.

Massachusetts Residents. Massachusetts law prohibits discrimination based upon marital status or sexual orientation.

New Jersey Residents. IF YOU ARE A USER FROM NEW JERSEY, THE SECTIONS TITLED “DISCLAIMER OF WARRANTIES” AND “LIMITATION OF LIABILITY” ARE INTENDED TO BE ONLY AS BROAD AS IS PERMITTED UNDER THE LAWS OF THE STATE OF NEW JERSEY. IF ANY PORTION OF THESE SECTIONS IS HELD TO BE INVALID UNDER THE LAWS OF THE STATE OF NEW JERSEY, THE INVALIDITY OF SUCH PORTION SHALL NOT AFFECT THE VALIDITY OF THE REMAINING PORTIONS OF THE APPLICABLE SECTIONS.

Ohio Residents. The Ohio laws against discrimination require that all creditors make credit equally available to all credit-worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with the law.

Dispute Resolution by Binding Arbitration

PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS.

Agreement to Arbitrate

This Dispute Resolution by Binding Arbitration Section is referred to in these Terms as the “Arbitration Agreement.” You agree that any and all disputes or claims that have arisen or may arise between you and Common, whether arising out of or relating to these Terms (including any alleged breach), our Services, any advertising, any aspect of the relationship, or transactions between us, will be resolved exclusively through final and binding arbitration, rather than a court, in accordance with the terms of this Arbitration Agreement, except that you may assert individual claims in small claims court, if your claims qualify. Further, this Arbitration Agreement does not preclude you from bringing issues to the attention of federal, state, or local agencies, and such agencies can, if the law allows, seek relief against us on your behalf. You agree that, by entering into these Terms, you and Common are each waiving the right to a trial by jury or to participate in a class action. Your rights will be determined by a neutral arbitrator, not by a judge or jury. The Federal Arbitration Act governs the interpretation and enforcement of this Arbitration Agreement.

Prohibition of Class and Representative Actions and Non-Individualized Relief

YOU AND COMMON AGREE THAT EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE ACTION OR PROCEEDING. UNLESS BOTH YOU AND COMMON AGREE OTHERWISE, THE ARBITRATOR MAY NOT CONSOLIDATE OR JOIN MORE THAN ONE PERSON’S OR PARTY’S CLAIMS AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A CONSOLIDATED, REPRESENTATIVE, OR CLASS PROCEEDING. ALSO, THE ARBITRATOR MAY AWARD RELIEF (INCLUDING MONETARY, INJUNCTIVE, AND DECLARATORY RELIEF) ONLY IN FAVOR OF THE INDIVIDUAL PARTY SEEKING RELIEF AND ONLY TO THE EXTENT NECESSARY TO PROVIDE RELIEF NECESSITATED BY THAT PARTY’S INDIVIDUAL CLAIMS.

Pre-Arbitration Dispute Resolution

Common is always interested in resolving disputes amicably and efficiently, and most user concerns can be resolved quickly and to the user’s satisfaction by emailing customer support at support@common.co. If such efforts prove unsuccessful, a party who intends to seek arbitration must first send to the other, by certified mail, a written Notice of Dispute (“Notice”). The Notice to Common should be sent to 353 Sacramento St, San Francisco, CA 94111 (“Notice Address”). The Notice must (i) describe the nature and basis of the claim or dispute and (ii) set forth the specific relief sought. If Common and you do not resolve the claim within sixty (60) calendar days after the Notice is received, you or Common may commence an arbitration proceeding. During the arbitration, the amount of any settlement offer made by Common or you shall not be disclosed to the arbitrator until after the arbitrator determines the amount, if any, to which you are or Common is entitled.

Arbitration Procedures

Arbitration will be conducted by a neutral arbitrator in accordance with the American Arbitration Association’s (“AAA”) rules and procedures, including the AAA’s Consumer Arbitration Rules (collectively, the “AAA Rules”), as modified by this Arbitration Agreement. For information on the AAA, please visit its website, http://www.adr.org. Information about the AAA Rules and fees for consumer disputes can be found at the AAA’s consumer arbitration page, http://www.adr.org/consumer. If there is any inconsistency between any term of the AAA Rules and any term of this Arbitration Agreement, the terms of this Arbitration Agreement will control unless the arbitrator determines that the application of the inconsistent Arbitration Agreement terms would not result in a fundamentally fair arbitration. The arbitrator must also follow the provisions of these Terms as a court would. All issues are for the arbitrator to decide, including issues relating to the scope, enforceability, and arbitrability of this Arbitration Agreement. Although arbitration proceedings are usually simpler and more streamlined than trials and other judicial proceedings, the arbitrator can award the same damages and relief on an individual basis that a court can award to an individual under these Terms and applicable law. Decisions by the arbitrator are enforceable in court and may be overturned by a court only for very limited reasons.

Unless Common and you agree otherwise, any arbitration hearings will take place in a reasonably convenient location for both parties with due consideration of each’s ability to travel and other pertinent circumstances. If the parties are unable to agree on a location, the determination will be made by AAA. If your claim is for $10,000 or less, Common agrees that you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic hearing, or by an in-person hearing as established by the AAA Rules. If your claim exceeds $10,000, the right to a hearing will be determined by the AAA Rules. Regardless of the manner in which the arbitration is conducted, the arbitrator will issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the award is based.

Costs of Arbitration

Payment of all filing, administration, and arbitrator fees (collectively, the “Arbitration Fees”) will be governed by the AAA Rules, unless otherwise provided in this Arbitration Agreement. If the value of the relief sought is $75,000 or less, at your request, Common will pay all Arbitration Fees. If the value of relief sought is more than $75,000 and you are able to demonstrate to the arbitrator that you are economically unable to pay your portion of the Arbitration Fees or if the arbitrator otherwise determines for any reason that you should not be required to pay your portion of the Arbitration Fees, Common will pay your portion of such fees. In addition, if you demonstrate to the arbitrator that the costs of arbitration will be prohibitive as compared to the costs of litigation, Common will pay as much of the Arbitration Fees as the arbitrator deems necessary to prevent the arbitration from being cost-prohibitive. Any payment of attorneys’ fees will be governed by the AAA Rules.

Confidentiality

All aspects of the arbitration proceeding, and any ruling, decision, or award by the arbitrator will be strictly confidential for the benefit of all parties.

Severability

If a court or the arbitrator decides that any term or provision of this Arbitration Agreement (other than the Subsection titled “Prohibition of Class and Representative Actions and Non-Individualized Relief” above) is invalid or unenforceable, the parties agree to replace such term or provision with a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Arbitration Agreement will be enforceable as so modified. If a court or the arbitrator decides that any of the provisions of Subsection above titled “Prohibition of Class and Representative Actions and Non-Individualized Relief” are invalid or unenforceable, then the entirety of this Arbitration Agreement will be null and void, unless such provisions are deemed to be invalid or unenforceable solely with respect to claims for public injunctive relief. The remainder of these Terms will continue to apply.

Future Changes to Arbitration Agreement

Notwithstanding any provision in these Terms to the contrary, Common agrees that if it makes any future change to this Arbitration Agreement (other than a change to the Notice Address) while you are a user of our Services, you may reject any such change by sending Common written notice within thirty (30) calendar days of the change to the Notice Address provided above. By rejecting any future change, you are agreeing that you will arbitrate any dispute between us in accordance with the language of this Arbitration Agreement as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms).

Miscellaneous

If any portion of these Terms of Service is deemed unlawful, void or unenforceable by any arbitrator or court of competent jurisdiction, these Terms of Service as a whole will not be deemed unlawful, void or unenforceable, but only that portion of these Terms of Service that is unlawful, void or unenforceable will be stricken from these Terms of Service.

You agree that if Activehours does not exercise or enforce any legal right or remedy which is contained in these Terms of Service (or which Activehours has the benefit of under any applicable law), this will not be taken to be a formal waiver of Activehours's rights and that those rights or remedies will still be available to Activehours.

All covenants, agreements, representations and warranties made in these Terms of Service will survive your acceptance of these Terms of Service and the termination of these Terms of Service.

These Terms of Service represents the entire understanding and agreement between you and Activehours regarding the subject matter of the same, and supersedes all other previous agreements.

Contact Us

You may contact us by email at support@commonbank.co or by mail at Common Pbc., 353 Sacramento St, San Francisco, CA 94111