# MoneyLion Split Security Deposit Account Agreement

> Pathward ®  National Association  Security Deposit Account Agreement         CUSTOMER SERVICE CONTACT INFORMATION            Address                 MoneyLio

Source: https://help.moneylion.com/en_us/moneylion-split-security-deposit-account-agreement-H1TdHMcUGx

Last updated: 2026-08-12T15:48:05.435Z

**Pathward®, National Association  
Security Deposit Account Agreement**  

**CUSTOMER SERVICE CONTACT INFORMATION**:

Address:                 MoneyLion Customer Service

                              P.O. Box 1547

                              Sandy, UT 84091

Website:                 help.moneylion.com

Phone Number:       1-844-224-0087

**IMPORTANT NOTICES**:

*   PLEASE READ CAREFULLY. THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION SETTING FORTH THE RULES FOR DISPUTE RESOLUTION WITH US.

*   BY OPENING OR MAINTAINING THIS SECURITY DEPOSIT ACCOUNT, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS CONTAINED IN THIS AGREEMENT AND YOU ARE ALSO AGREEING TO PATHWARD, NATIONAL ASSOCIATION’S PRIVACY POLICY ACCOMPANYING THIS AGREEMENT. SERVICER AND LENDER MAY HAVE DIFFERENT PRIVACY PRACTICES, SO IT IS IMPORTANT YOU REVIEW THEIR PRIVACY POLICIES AS WELL, IF APPLICABLE.

This Security Deposit Account Agreement ("**Agreement**") sets forth the terms and conditions between you and Pathward, N.A. that govern your Security Deposit Account opened in connection with your MoneyLion Split Line of Credit. In this Agreement, the words “**you**” and “**your**” mean the person who has opened and owns the Security Deposit Account. The words “**we**,” “**us**,” “**our**” and “**Bank**” refers to Pathward, N.A., a federally chartered bank, Member FDIC, and its successors and assigns. “**Servicer**” refers to ML Plus LLC (d/b/a MoneyLion), the entity that performs certain services related to your Security Deposit Account on Bank’s and Lender’s behalf. Please read this Agreement carefully and keep it for future reference.

1.  **DEFINITIONS**
2.  **"Business Day**" means any day of the week that is not a Saturday, Sunday or federal holiday. Any references to "days" found in this Agreement means calendar days unless indicated otherwise. Non-Business Days are considered part of the following Business Day.
3.  **"Customer Service**" means the customer service we make available for your Security Deposit Account, available at the address, website and phone number listed in the section titled "Customer Service Contact Information."
4.  **“Lender”** means the entity identified as lender in your Line of Credit Agreement.
5.  **“Line of Credit”** means your MoneyLion Split Line of Credit provided by Lender under your Line of Credit Agreement.
6.  **“Line of Credit Agreement”** means your MoneyLion Split Line of Credit and Security Agreement with Lender, as amended or supplemented from time to time.
7.  “**MoneyLion Spend deposit account**” means the MoneyLion-branded deposit account opened with Bank that is used in connection with your Line of Credit and Security Deposit Account.
8.  **"Mobile App**" means the MoneyLion mobile application made available to you by Servicer on our behalf. Please Note: Message and data charges may apply from your wireless service provider when using the Mobile App.
9.  “**Required Security Deposit Amount**” means the amount you are required to fund and maintain in your Security Deposit Account as security for your Line of Credit, as determined by Lender under your Line of Credit Agreement. 
10.  “**Website**” means the website made available by Servicer through which you may access information regarding your Security Deposit Account.

2.  **ELIGIBILITY**

            To be eligible to open and maintain a Security Deposit Account, you must have a MoneyLion Spend deposit account opened with Bank in good standing and satisfy the eligibility requirements established by Lender for a Line of Credit. These requirements may include, without limitation, completing onboarding, satisfying applicable identity verification, state eligibility, rent verification, underwriting, and payment-source requirements, entering into the Line of Credit Agreement, and funding the Required Security Deposit Amount. Your Security Deposit Account may not be opened unless and until all required onboarding steps are completed and the Required Security Deposit Amount has been funded in connection with the Line of Credit.

3.  **ABOUT YOUR SECURITY DEPOSIT ACCOUNT**

Your Security Deposit Account is a limited purpose account established for the sole purpose of holding funds securing your Line of Credit provided by the Lender pursuant to your Line of Credit Agreement with Lender. Bank is not a party to your Line of Credit Agreement and does not participate in your financing arrangement with Lender. In general, you will be periodically instructing and authorizing Lender, Servicer, or their respective designated agents (a) to transfer funds from your MoneyLion Spend deposit account or another eligible account to your Security Deposit Account with us to fund your Required Security Deposit Amount; (b) to debit your Security Deposit Account and remit to Lender any amounts due to Lender upon your default of your Line of Credit Agreement with Lender, or (c) to transfer funds from your Security Deposit Account to your MoneyLion Spend deposit account or other account to return funds owed to you upon closure of your Security Deposit Account as further described in this Agreement. 

Your Security Deposit Account is a sub-account maintained within a pooled custodial account established by Bank. The funds you add to the Security Deposit Account are owned by you and will serve as security for your Line of Credit as set forth in your Line of Credit Agreement. You will not have direct access to the funds in your Security Deposit Account. Bank may require that your Security Deposit Account can only be funded through your MoneyLion Spend deposit account. The Security Deposit Account does not constitute a checking account, savings account, prepaid account or credit account. This Security Deposit Account is not designated for business use, and we may close your Security Deposit Account if we determine that it is being used for business purposes. You may not use your Security Deposit Account for any illegal transactions or any activity prohibited by this Agreement.

By funding your Security Deposit Account, you authorize us to hold your funds at Pathward or act as your custodian to place your funds at one or more participating FDIC-insured banks (each a "**Program Bank**"). Visit [www.pathward.com/programbanks](http://www.pathward.com/programbanks) to find the most up-to-date list of Program Banks. If you do not agree to Pathward placing your funds as custodian at other Program Banks, do not open a Line of Credit with Lender or call or write to Customer Service above to close your Security Deposit Account in accordance with the section entitled “Security Deposit Account Closure” below.

Your funds are eligible for deposit insurance up to the applicable limits by the Federal Deposit Insurance Corporation ("**FDIC"**). In the event the FDIC were to be appointed as a receiver for Pathward or a Program Bank, your funds, aggregated with any other funds you have on deposit at such institution would be eligible to be insured up to $250,000 for each legal category of account ownership, subject to compliance with FDIC deposit insurance requirements. You are responsible for monitoring the total amount of all direct or indirect deposits held by you or for you with Pathward and the Program Banks for purposes of monitoring the amount of your funds eligible for coverage by FDIC insurance. To assist with calculating your FDIC deposit insurance coverage, the FDIC has an Electronic Deposit Insurance Estimator available at [https://edie.fdic.gov](https://edie.fdic.gov/)[.](https://edie.fdic.gov/)

4.  **Interest; Truth-in-Savings Disclosures** 

Your Account is an interest-bearing account. The interest rate and Annual Percentage Yield (“APY”) for your Account are variable and may change at any time. To obtain current rate and annual percentage yield (“APY”) information on your Security Deposit Account, please log on to the Website or Mobile App. For purposes of this Truth-in-Savings Disclosure, the term "Period" refers to a calendar month.

## **Rate Information**

1.  **Variable Rate:** The current interest rate on your Security Deposit Account is 2% with an APY of 2.0184%.
2.  **Determination of Rate:** We may change the interest rate and corresponding APY from time to time, subject to any notice required by applicable law and the terms of this Agreement.
3.  **Frequency of Rate Changes:** We may change the interest rate and corresponding APY on your Security Deposit Account at any time. If the interest rate changes, the new rate will take effect on the first day of the next calendar month. Until then, your Security Deposit Account will continue to earn interest at the previously applicable rate.

## **Compounding and Crediting of Interest**

1.  **Frequency**: Interest will be compounded on a monthly basis and credited to your Security Deposit Account monthly. 
2.  **Effect of Closing Your Security Deposit Account**: If you or we close your Security Deposit Account before interest is credited, you will not receive the accrued interest.

## **Balance Information**

1.  ## **Minimum Balance Requirements:**  A minimum balance equal to your Required Security Deposit Amount is required to open your Security Deposit Account and, if applicable, earn interest on your Security Deposit Account.
    
2.  **Balance Computation Method:** We use the daily balance method to calculate interest on your Security Deposit Account. This method applies a daily periodic rate to the available balance in your account at the end of each day.
3.  **Accrual of Interest on Deposits:** Deposits begin accruing interest the same business day the deposit is credited to your  Security Deposit Account. For determining the day on which interest begins to accrue on the Security Deposit Account, every day is a business day, except for Saturdays, Sundays and federal holidays. If funds are credited to the  Security Deposit Account before 11:59 p.m. (MST) on a business day, we will consider that day to be the day of the deposit, and interest will begin accruing. However, if funds are credited to the Security Deposit Account after 11:59 p.m. (MST), or on a weekend or federal holiday, we will consider that the deposit was made on the next business day and interest will start accruing on this day.
4.  **Reporting Interest You Earn on Your Account**. Per Internal Revenue Service (“IRS”) regulations, if your Security Deposit Account accrues more than $10.00 in interest for a calendar year, we (or our servicer) will mail you an IRS Form 1099-INT reflecting the total interest paid to you for such calendar year.

5.  **Authorizing and Executing Transactions**

As the secured party under your Line of Credit Agreement, you grant Lender sole dominion and control over your Security Deposit Account. Neither you, nor any other person or entity acting on your behalf, shall have any control over the use of, or any right to withdraw any amount from, your Security Deposit Account except as described in this Agreement and your Line of Credit Agreement. The duties of Bank are strictly limited to those set forth in this Agreement and Bank is not acting as a fiduciary for any party hereto. Bank is fully entitled to rely on instructions from Lender, Servicer, or their respective designated agents and shall be protected in relying on any form of instruction or other notice purporting to be from Lender, Servicer, or their respective designated agents which Bank, in good faith, believes to be genuine and what it purports to be. Bank shall have no duty to inquire as to the genuineness, validity, or enforceability of any such instruction or notice even if you notify us that Lender or its designated agents are not legally entitled to originate any such instruction or notice. Bank shall be fully protected in acting or refraining from acting in good faith without investigation on any written notice, instruction or request purportedly furnished to it by Lender, Servicer, or their respective designated agents in accordance with the terms hereof, in which case the parties hereto agree that Bank has no duty to make any further inquiry whatsoever. You agree that instructions from Lender, Servicer, or their respective designated agents may include instructions to transfer funds to or for the benefit of Lender and instructions to close your Security Deposit Account. Bank shall not be responsible for any late payment fee, penalty, or other charge levied against you; or for any other adverse action taken by any party. Bank shall not be liable for any consequence or damages you may claim resulting from Bank acting on the instructions of Lender, Servicer, or their respective designated agents. 

6.  **Delivery of Electronic Communications**. 

As a condition of opening and maintaining the Security Deposit Account, you are required to consent to receiving electronic communications from us.

7.  **SECURITY DEPOSIT ACCOUNT FUNDS**

1.  **Deposits and Limitations** 

Funds may be transferred or deposited to your Security Deposit Account from your MoneyLion Spend deposit account or, if supported, another eligible account. Bank may require that your Security Deposit Account can only be funded through your MoneyLion Spend deposit account. Any funds deposited to your Security Deposit Account will be subject to the terms of this Agreement and your Line of Credit Agreement.

2.  **Withdrawals and Limitations**  

The funds available for withdrawal from your Security Deposit Account are subject to the terms of your Agreement and your Line of Credit Agreement and may not exceed the available balance of your  Security Deposit Account. Any funds that are required or permitted to be released to you under this Agreement and your Line of Credit Agreement may be transferred from your Security Deposit Account to your MoneyLion Spend deposit account or, if supported, other eligible account made available for this purpose. Bank may require that funds released from your Security Deposit Account can only be transferred to your MoneyLion Spend deposit account. This transfer method will be your sole method for accessing or withdrawing the funds in your Security Deposit Account. Once such funds have been transferred to your MoneyLion Spend deposit account, you may spend or withdraw such funds by any of the methods permitted under your MoneyLion Spend deposit account agreement. Please see your MoneyLion Spend deposit account agreement for details about fees and limitations associated with such transactions. You will not receive a debit card or other access device to withdraw funds from the Security Deposit Account. No purchase transactions, ACH transactions, bill payment transactions, ATM transactions, or check transactions or preauthorized transfers may be initiated by you or on your behalf using your Security Deposit Account, nor will funds be automatically transferred from your Security Deposit Account to your MoneyLion Spend deposit account to honor any such transactions initiated using your MoneyLion Spend deposit account. 

8.  **Fees**

There are no fees for using your  Security Deposit Account to hold funds. Fees may apply for other services; please see your MoneyLion Spend deposit account regarding any fees applicable to your MoneyLion Spend deposit account and your Line of Credit Agreement with Lender regarding any fees applicable to your Line of Credit. 

9.  **SECURITY DEPOSIT Account Balance Information; Statements**

You are responsible for keeping track of the available balance of your Security Deposit Account. You may determine your balance for no fee by contacting Customer Service or by visiting the Website or Mobile App. We will provide you a periodic statement in electronic format for no fee in your online account center for each month in which a transaction occurs. If no transactions occur, we will provide you an electronic statement quarterly. You will not receive paper statements. You may request a copy of your statement by calling or by writing to Customer Service. Immediately report any errors or concerns about your Security Deposit Account by contacting Customer Service or by visiting the Website or Mobile App.

10.  **Errors, Unauthorized Transactions or Questions About Your Account**

If you have a question regarding your Security Deposit Account, or believe an error or unauthorized transaction has been made, contact us IMMEDIATELY by calling or writing to Customer Service. Please include your name and the unique identifier associated with your Security Deposit Account, and a brief description of the issue, including the amount and date of the transaction in question. If you tell us orally, we may require that you send your complaint or question in writing within ten (10) Business Days. We will investigate your question or your claim. You agree to cooperate with us. If you do not contact us within a reasonable time, it may affect our ability to help.

11.  **THIRD PARTY DISPUTES**

            You agree to settle all third-party disputes relating to the financing arrangement you have undertaken with Lender without involving us. As discussed above, we are simply providing your Security Deposit Account and our services to help facilitate certain aspects of such financing arrangement as agreed between you and Lender. We are not owned by or otherwise affiliated with Lender or any other third party that may be involved in such financing arrangement, nor are we a party to your Line of Credit Agreement with Lender. You hereby acknowledge and agree that we have no involvement in or responsibilities of any nature with respect to your financing arrangement with Lender that are not expressly set forth in this Agreement or otherwise required by applicable law. Furthermore, you expressly acknowledge that any representation, statement, or obligation made by Lender or in connection with your Line of Credit does not and cannot bind Bank. Finally, you expressly acknowledge that Bank shall not be liable for any actions taken by Lender in connection with your Line of Credit or your Security Deposit Account.

12.  **Our Liability for Failure to Complete Transactions**

If we do not complete a transaction to or from your Security Deposit Account on time or in the correct amount according to our Agreement with you, we will be liable for your losses and damages. However, there are some exceptions. We will not be liable, for instance:

*   If access to your Security Deposit Account has been blocked after you reported unauthorized access to your account;
*   If there is a hold or your funds are subject to legal process or other encumbrance restricting their use;
*   If we have reason to believe the requested transaction is unauthorized;
*   If circumstances beyond our control (such as fire, flood or computer or communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
*   For any other exception stated in our Agreement with you.

13.  **Limitation of Liability**

            **WE WILL NOT BE LIABLE TO YOU FOR: DELAYS OR MISTAKES RESULTING FROM ANY CIRCUMSTANCES BEYOND OUR CONTROL, INCLUDING, WITHOUT LIMITATION, ACTS OF GOVERNMENTAL AUTHORITIES, NATIONAL EMERGENCIES, INSURRECTION, WAR, OR RIOTS; ANY CLAIMS, LOSSES, OR DAMAGES RESULTING FROM YOUR FAILURE TO COMPLY WITH THIS AGREEMENT; COMMUNICATIONS SYSTEM FAILURES; OR FAILURES OR MALFUNCTIONS ATTRIBUTABLE TO YOUR EQUIPMENT, ANY INTERNET SERVICE, OR ANY PAYMENT SYSTEM. IN THE EVENT THAT WE ARE HELD LIABLE TO YOU, YOU WILL ONLY BE ENTITLED TO RECOVER YOUR ACTUAL DAMAGES. IN NO EVENT SHALL YOU BE ENTITLED TO RECOVER ANY INDIRECT, CONSEQUENTIAL, EXEMPLARY, OR SPECIAL DAMAGES (WHETHER IN CONTRACT, TORT, OR OTHERWISE), EVEN IF YOU HAVE ADVISED US OF THE POSSIBILITY OF SUCH DAMAGES. THIS PROVISION SHALL BE EFFECTIVE EXCEPT TO THE EXTENT OTHERWISE REQUIRED BY LAW.**

14.  **Disclaimer of Warranties**

**EXCEPT AS EXPRESSLY OTHERWISE PROVIDED IN THESE TERMS, WE MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND TO YOU, AND HEREBY EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, REGARDING OUR SERVICES OR ANY FINANCIAL SERVICE OR RELATING TO OR ARISING OUT OF THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.**

15.  **SECURITY DEPOSIT Account Closure**

You may terminate this Agreement and request closure of your Security Deposit Account by calling or writing to Customer Service. Your Security Deposit Account may not be closed, and funds in your Security Deposit Account may not be released to you, until your obligations to Lender under your Line of Credit Agreement have been fully satisfied or otherwise released, and Bank has received instructions from Lender, Servicer, or their respective designated agents to release the funds.

If you elect to close your MoneyLion Spend deposit account pursuant to the terms of your MoneyLion Spend deposit account agreement, we will treat this as a request to close your Security Deposit Account as well. However, your Security Deposit Account may remain open until your obligations to Lender under your Line of Credit Agreement have been fully satisfied or otherwise released.

We may close, suspend, cancel, or terminate this Agreement or your Security Deposit Account at any time, with or without cause, and without prior notice unless notice is required by law. This may include, without limitation, inactivity, suspected fraud, termination or non-management of your financing arrangement with Lender, improper maintenance or use of your Security Deposit Account, closure or loss of good standing of your MoneyLion Spend deposit account, your death or legal incapacity, legal process affecting your funds, or your violation of this Agreement.

If this Agreement is terminated for any reason, or upon Security Deposit Account closure, the remaining balance in your Security Deposit Account will be credited to your MoneyLion Spend deposit account or, if supported, another eligible account, promptly after your obligations to Lender have been fully satisfied or otherwise released, and Bank has received release instructions from Lender, Servicer, or their respective designated agents. If your MoneyLion Spend deposit account has a negative balance at the time of this transfer, the funds will be applied towards such negative balance, including any fees due, before such funds are made available to you for transactions. 

We will not send a check for the remaining Security Deposit Account balance when the Security Deposit Account is closed, unless your MoneyLion Spend deposit account is closed as well. In that case we may return to you via check all available funds. All rights and obligations related to transactions conducted before Security Deposit Account closure will survive the closure. If you or we close your Security Deposit Account before interest is credited, you will not receive the accrued interest. 

16.  **CONFIDENTIALITY**

We may disclose information to third parties about your Security Deposit Account:

*   Where it is necessary for completing transactions;
*   In order to verify the existence and condition of your Security Deposit Account for a third party, including Lender and its designated agents;
*   In order to comply with government agency or court orders, or other legal reporting requirements;
*   If you give us your written permission;
*   To our employees, auditors, affiliates, service providers, or attorneys as needed; or
*   As otherwise necessary to fulfill our obligations under this Agreement.

17.  **ADDITIONAL TERMS OF THE AGREEMENT**

1.  **Communications**

You agree that we may monitor and record any calls or other communications between us and you. You also agree that we or our service providers may contact you with any contact information you provide to us, including cellular and wireless phone numbers, landline numbers, and email addresses. You also agree that we or our service providers may contact you by using an automated dialing or email system, by text, or artificial or recorded voice. You agree to pay any service charges assessed by your plan provider for communications we send or make to you or that you send or make to us.

2.  **Change of Address**

You are responsible for notifying us immediately upon any change to your address or email address. If your address changes to a non-US address, we may close your Security Deposit Account and return funds to you in accordance with this Agreement. You are responsible for notifying us of any change in your physical address, mailing address, email address, phone number, or your name, no later than two (2) weeks after said change. We will attempt to communicate with you only by use of the most recent contact information you have provided to us. You agree that any notice or communication sent to you at an address noted in our records shall be effective unless we have received an address change notice from you.

We cannot accept responsibility for any e-mail messages not received by you, or for any delay in the receipt or delivery of any email notifications. If you make your e-mail account available to any other individual, you agree that you are responsible for any release of any Security Deposit Account information to such individual. It is your sole responsibility to ensure that the e-mail address you provide to us is current and accurate. We are not responsible for loss of messages and other consequences if you do not provide an accurate and current e-mail address. 

100.  **English Language Controls**

Translations of this Agreement that may have been provided are for your convenience only and may not accurately reflect the original English meaning. The meanings of terms, conditions, and representations herein are subject to definitions and interpretations in the English language.

500.  **Assignability**

You may not assign or transfer your Security Deposit Account or your obligations under this Agreement. We may, however, transfer or assign our rights under this Agreement, including any balances in your Security Deposit Account. If we assign our rights, you will get a notification from us.

5.  **Amendment and Cancellation**

We may change this Agreement at any time. We may add new terms or delete or amend existing terms, add new services and discontinue existing services, or convert existing services into new services. We will give you reasonable notice in writing or by any method permitted by law of an adverse change to this Agreement. However, if the change is made for security purposes, we can implement such change without prior notice unless otherwise required by law. We may, but are not required to, notify you of changes that we make for security reasons or that we believe beneficial or otherwise not adverse to you. When we change this Agreement, the then-current version of this Agreement supersedes all prior versions and governs your Security Deposit Account. If you continue to use your Security Deposit Account or keep it open, you are deemed to have accepted and agreed to any changes, as of the effective date of any such change.

6.  **Legal Process**

            Your Security Deposit Account is established and maintained at our main office in Sioux Falls, South Dakota.  We will comply with all applicable law in connection with any legal process validly served upon us in connection with your Security Deposit Account including, but not limited to, garnishments, restraints, seizure notices, subpoenas, and similar legal process. Unless required by applicable state or federal law, we will not assert any claims of exemption on your behalf. You agree that we will have no liability to you in the event we properly comply with any such valid legal process.

7.  **Right of Set-Off.** 

            If you owe us money for any reason (for example, if your MoneyLion Spend deposit account with us has a negative balance) and you fail to pay us according to your contractual obligations with us, you agree that we will have the right to collect funds from your Security Deposit Account in an amount equal to or less than the amount for which you are liable and that your Security Deposit Account may be closed. We may exercise this right of set-off at any time without prior notice to you. Any right of set-off against funds in your Security Deposit Account is subject to Lender’s security interest and applicable law.

8.  **Other Terms**

We do not waive our rights by delaying or failing to exercise them at any time (for example, assessing a fee less than described, or not all, for any reason does not waive our right to begin charging the fee as set forth in this Agreement without notice). If any provision of this Agreement is determined to be invalid or unenforceable under any rule, law, or regulation of any governmental agency, local, state, or federal, the validity or enforceability of any other provision of this Agreement shall not be affected. This Agreement is governed by the law of the state of South Dakota except to the extent governed by federal law. Should your Security Deposit Account have a remaining balance after a certain period of time, we may be required to remit the remaining funds to the appropriate state agency in accordance with applicable unclaimed property laws and our escheatment procedures. This Agreement sets forth the entire understanding and agreement between you and us, whether written or oral, with respect to the subject matter addressed herein, and supersedes any prior contemporaneous understandings or agreements with respect to such subject matter.

18.  **JURY TRIAL WAIVER**

**YOU AND WE ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL RIGHT BUT MAY BE WAIVED IN CERTAIN CIRCUMSTANCES. TO THE EXTENT PERMITTED BY LAW, YOU AND WE KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO TRIAL BY JURY IN THE EVENT OF LITIGATION ARISING OUT OF OR RELATED TO THIS AGREEMENT. THIS JURY TRIAL WAIVER SHALL NOT AFFECT OR BE INTERPRETED AS MODIFYING IN ANY FASHION THE DISPUTE CLAUSE SET FORTH IN THE FOLLOWING SECTION, IF APPLICABLE, WHICH CONTAINS ITS OWN SEPARATE JURY TRIAL WAIVER.**

19.  **ARBITRATION CLAUSE**

We have put this Arbitration Clause in question and answer form to make it easier to follow. However, this Arbitration Clause is part of this Agreement and is legally binding. For purposes of this section, our "**Notice Address"** is: Pathward, Attn: Customer Service, 5501 S Broadband Ln, Sioux Falls, SD 57108.

**Background and Scope**

**Question**

**Short Answer**

**Further Detail**

What is arbitration?

An alternative to court

In arbitration, a neutral third-party arbitrator ("**Arbitrator**") solves Disputes in an informal hearing on an individual basis.

Is it different from court and jury trials?

Yes

The hearing is private. There is no jury. It is usually less formal, faster and less expensive than a lawsuit. Pre-hearing fact finding is limited. Appeals are

limited. Courts rarely overturn arbitration awards.

Can you opt-out of this Arbitration Clause?

Yes, within 60 days

If you do not want this Arbitration Clause to apply, you must send us a signed notice within 60 calendar days after you acquire the Security Deposit Account. You must send the notice in writing (and not electronically) to our Notice Address. Provide your name, address and the unique identifier associated with your Security Deposit Account. State that you "opt out" of the Arbitration Clause. Opting out will not affect the other provisions of this Agreement.

What is this Arbitration Clause about?

The parties' agreement to arbitrate Disputes

Unless prohibited by applicable law and unless you opt out, you and we agree that you or we may elect to arbitrate individually or require individual arbitration of any "Dispute" as defined below.

Who does the Arbitration Clause cover?

You, us and certain "Related Parties"

This Arbitration Clause governs you and us. It also covers certain "**Related Parties**": (1) our parents, subsidiaries, affiliates, and their successors and permitted assigns; (2) our employees, directors, officers, shareholders, members and representatives; and (3) any person or company that is involved in a Dispute you pursue at the same time you pursue a related Dispute with us.

What Disputes does the Arbitration Clause cover?

All Disputes (except certain Disputes about this Arbitration Clause)

This Arbitration Clause governs all "Disputes" that would usually be decided in court and are between us (or any Related Party) and you. In this Arbitration Clause, the word "**Disputes**" has the broadest reasonable meaning. It includes all claims even indirectly related to your Security Deposit Account or this Agreement or the relationships between you and us and/or "Related Parties" resulting therefrom, including but not limited to, initial claims, counterclaims, cross-claims, third- party claims, and claims based on any constitution, statute, regulation, ordinance, common law rule (including rules relating to contracts, torts, negligence, fraud or other intentional wrongs) and equity. It includes claims that seek relief of any type, including damages, and/or injunctive, declaratory, or other equitable relief. It includes claims related to the validity in general of this Agreement. **However, it does not include disputes about the validity, coverage or scope of this Arbitration Clause or any part of this Arbitration Clause. (This includes a Dispute about the rule against class arbitration.) All such disputes are for a court and not an Arbitrator to decide**.

Who handles the arbitration?

Usually AAA or JAMS

Arbitrations are conducted under this Arbitration Clause and the rules of the arbitration administrator in effect when the arbitration is started. The arbitration administrator will be either:

*   The American Arbitration Association ("AAA"), 120 Broadway, 21st Floor, New York, NY 10271, [](http://www.adr.org/)[www.adr.org](http://www.adr.org).
*   JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 10018, [www.jamsadr.com](http://www.jamsadr.com). 
*   Any other company picked by agreement of the parties

If all the above options are unavailable, a court with jurisdiction will pick the administrator. No arbitration may be administered without our consent by any administrator that would permit a class arbitration under this Arbitration Clause. The Arbitrator will be selected under the administrator's rules. However, the Arbitrator must be a lawyer with at least ten years of experience or a retired judge unless you and we otherwise agree.

Can Disputes be litigated?

Sometimes

Either party may bring a lawsuit if the other party does not demand arbitration. Also, any individual claim(s) by you or us in which the amount in controversy (exclusive of attorneys' fees and costs if applicable law so provides) is properly within the jurisdiction of a small-claims court may be removed to small-claims court at the election of the opposing party by providing notice within 21 days of receiving the arbitration demand from the other party; however, if that action is transferred, removed or appealed to a different court, a party may elect arbitration. Even if all parties have opted to litigate a Dispute in court, you or we may elect arbitration with respect to any Dispute made by a new party or any Dispute later asserted by a party in that lawsuit or in any related or unrelated lawsuit (including a Dispute initially asserted on an individual basis but modified to be asserted on a class, representative, or multi-party basis). Nothing in that litigation shall constitute a waiver of any rights under this Arbitration Clause.

Are you and we giving up any rights?

Yes

For Disputes that are arbitrated under this Arbitration Clause, you and we give up our rights to:

1.  Have juries decide Disputes.
2.  Have courts, other than small-claims courts, decide Disputes.
3.  Serve as a private attorney general or in a representative capacity in court or in arbitration.
4.  Join a Dispute that you, we, or Related Parties have with a dispute that others have.
5.  Bring or be a class member in a class action in court or in a class arbitration.

The Arbitrator shall have no authority to conduct any arbitration inconsistent with this section or to issue any relief that applies to any person or entity except you or us or Related Parties individually.

Can you or another consumer start a class arbitration?

No

**The Arbitrator is not allowed to handle any Dispute on a class or representative basis**. All Disputes subject to this Arbitration Clause must be decided in an **individual** arbitration or an **individual** small-claims action. You may not pursue any type of collective action or class action against us in arbitration.

What law applies?

The Federal Arbitration Act ("**FAA**")

This Agreement and the Security Deposit Account involve interstate commerce. Thus, the FAA governs this Arbitration Clause. The Arbitrator must apply substantive law consistent with the FAA. The Arbitrator must honor statutes of limitation and privilege rights. The Arbitrator is authorized to award all remedies permitted by applicable substantive law, including, without limitation, compensatory, statutory and punitive damages (subject to constitutional limits that would apply in court), declaratory, injunctive and other equitable relief, and attorneys’ fees and costs. In the event of any conflict or inconsistency between this Arbitration Clause and the administrator’s rules or the Agreement, this Arbitration Clause will govern.

Will anything I do make this Arbitration Clause ineffective?

No

This Arbitration Clause stays in force even if: (1) you or we end this Agreement; (2) we transfer or assign our rights under this Agreement, or (3) a party files for bankruptcy (if bankruptcy law permits).

**Process**

What must a party do before starting a lawsuit or arbitration?

Send a written Dispute notice and work to resolve the Dispute

Before starting a lawsuit or arbitration, the complaining party must give the other party written notice of the Dispute. The notice must explain in reasonable detail the nature of the Dispute and any supporting facts. If you are the complaining party, you must send the notice in writing (and not electronically) to our Notice Address. You or an attorney you have personally hired must sign the notice and must provide your the unique identifier associated with your Security Deposit Account, or identification and a phone number where you (or your attorney) can be reached. A letter from us to you will serve as our written notice of a Dispute. Once a Dispute notice is sent, the complaining party must give the other party a reasonable opportunity over the next 30 days to resolve the Dispute on an individual basis.

How does an arbitration start?

Mailing a notice

If the parties do not reach an agreement to resolve the Dispute within 30 days after notice of the Dispute is received, the complaining party may commence a lawsuit or an arbitration, subject to the terms of this Arbitration Clause. To start an arbitration, the complaining party picks the administrator and follows the administrator's rules. If one party begins or threatens a lawsuit, the other party can demand arbitration. This demand can be made in court papers, such as a motion to compel arbitration. Once an arbitration demand is made, no lawsuit can be brought and any existing lawsuit must stop unless a court rules otherwise.

Will any hearing be held nearby?

Yes

The Arbitrator may decide that an in-person hearing is unnecessary and that he or she can resolve a Dispute based on written filings and/or a conference call. However, any in-person arbitration hearing must be held at a place reasonably convenient to you.

What about appeals?

Very limited

Appeal rights under the FAA are very limited. The Arbitrator’s award will be final and binding. Any appropriate court may enter judgment upon the Arbitrator's award.

**Arbitration Fees and Awards**

Who bears arbitration fees?

Usually, we do.

We will pay all filing, administrative, hearing and Arbitrator fees if you act in good faith, cannot get a waiver of such fees, and ask us to pay. We will always pay amounts required under applicable law or the administrator's rules.

When will we cover your legal fees and costs?

If you win

If you win an arbitration, we will pay the reasonable fees and costs for your attorneys, experts and witnesses. We will also pay these amounts if required under applicable law or the administrator's rules or if payment is required to enforce this Arbitration Clause. The Arbitrator shall not limit his or her award of these amounts because your Dispute is for a small amount.

Will you ever owe us for arbitration or attorneys' fees?

Only for bad faith

The Arbitrator can require you to pay our fees if (and only if): (1) the Arbitrator finds that you have acted in bad faith (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)); and (2) this power does not make this Arbitration Clause invalid.

Can an award be explained?

Yes

A party may request details from the Arbitrator within 14 days of the ruling. The Arbitrator will determine whether to grant such request.

What happens if a part of this Arbitration Clause cannot be enforced?

It depends

If any portion of this Arbitration Clause cannot be enforced, the rest of the Arbitration Clause will continue to apply, except in two instances. First, if a court rules that the Arbitrator can decide a Dispute on a class basis and that ruling is not reversed on appeal, then this entire Arbitration Clause (except for this sentence) will be void. Second, if a claim is brought seeking public injunctive relief and a court determines that the restrictions in this Arbitration Clause prohibiting the Arbitrator from awarding relief on behalf of third parties are unenforceable with respect to such claim (and that determination becomes final after all appeals have been exhausted), then the claim for public injunctive relief will be determined in court and any individual claims seeking monetary relief will be arbitrated. In such a case, the parties will request that the court stay the claim for public injunctive relief until the arbitration award pertaining to individual relief has been entered in court. In no event will a claim for public injunctive relief be arbitrated.

Pathward, N.A., Member FDIC, 5501 S. Broadband Lane, Sioux Falls, SD 57108 © 2026 Pathward, N.A