This Agreement sets forth the terms & conditions for FundMe made available by Community Federal Savings Bank on behalf of Suvi Inc. "Suvi").
By enrolling in FundMe, you agree to be bound by the terms of this agreement. You further acknowledge that the Suvi Deposit Account Agreement and the Suvi Savings Account Agreement shall continue to apply except as specifically provided for in this Agreement. In the event of a conflict between the Suvi Deposit Account Agreement and the Suvi Savings Account Agreement and this Agreement, the terms and conditions of this Agreement shall apply. You further agree that the Arbitration provision of the Suvi Deposit Account Agreement shall extend to any claim, dispute, or controversy ("Claim") arising out of or relating in any way to this Agreement, your qualification for FundMe, your use of FundMe, the amount provided through FundMe, advertisements, promotions or oral or written statements related to FundMe, the benefits and services related to FundMe, or transactions made using FundMe.
FundMe is an optional, no fee service for which you must meet and continue to meet certain qualification criteria and enroll in through the Suvi mobile app or website. FundMe enables you to draw your Checking Account negative for debit card purchase transactions, excluding ATM transactions ("Qualifying Transactions") up to a specified amount (the "Limit"). To be eligible for FundMe, you must have received $200 or more in Qualifying Direct Deposits into your Suvi Checking Account over the preceding 31-days period. A Qualifying Direct Deposit is defined as a direct deposit by ACH transfer of payroll, pension or government benefits from your employer or a government agency. You must continue to meet the Qualifying Direct Deposit requirement during each statement period to maintain your enrollment in FundMe. Suvi, in its sole discretion, may at any time change the existing requirements or add additional requirements that you must meet in order to enroll or continue to use FundMe.
FundMe is only available to the primary and secondary account holder for debit card purchases and is not available for ATM withdrawals, ACH transfers, bill pay, pay friends, checks or transfer to other accounts including teen accounts or POTS. The Limit is determined by Suvi in its sole discretion based on your Suvi account history, direct deposit history and amounts, spending activity and other risk-based factors. Your Suvi accounts are continually monitored, and your Limit may be adjusted from time to time in Suvi's sole discretion.
Your Limit may be increased or lowered at any time by Suvi and represents the maximum limit you may draw your account negative on Qualifying Transactions. Any changes to your Limit will be clearly communicated to the email we have on file and will be displayed to you within the Suvi mobile app or website. You may choose to decrease your Limit allotted to you by Suvi or increase it to the maximum Limit allocated to you by Suvi at any time.
After you enroll in FundMe, Suvi will approve Qualifying Transactions that result in negative balance to your Suvi Checking Account to the Limit. Suvi will not charge you any fees or interest to be eligible or to use FundMe. Any funds deposited to your Suvi Checking Account with a negative balance will be immediately used to pay off the negative balance. You cannot maintain a negative balance for more than 31 consecutive calendar days under the FundMe program. If you fail to pay your negative balance within 31 calendar days from the date that you initially incur the negative balance, Suvi may transfer money from any sub account including savings account, pots or teen accounts to offset the negative balance and/or suspend or cancel your enrollment in FundMe or close your account. If Suvi does not receive a Qualifying Direct Deposit within a 31-day period, Suvi may terminate your enrollment in FundMe and Suvi may not approve any Qualifying Transactions that may result in negative balance.
After you enroll in FundMe, Suvi will approve Qualifying Transactions that result in negative balance to your Suvi Checking Account to the Limit. Suvi will not charge you any fees or interest to be eligible or to use FundMe. Any funds deposited to your Suvi Checking Account with a negative balance will be immediately used to pay off the negative balance. You cannot maintain a negative balance for more than 31 consecutive calendar days under the FundMe program. If you fail to pay your negative balance within 31 calendar days from the date that you initially incur the negative balance, Suvi may transfer money from any sub account including savings account, pots or teen accounts to offset the negative balance and/or suspend or cancel your enrollment in FundMe or close your account. If Suvi does not receive a Qualifying Direct Deposit within a 31-day period, Suvi may terminate your enrollment in FundMe and Suvi may not approve any Qualifying Transactions that may result in negative balance.