Beam Terms of Use Agreement

Revised July 2, 2018

These Beam Terms of Service (these "Terms") are an agreement between you and Beam Financial Inc. ("Beam") and govern the use of and access to the Beam website at www.meetbeam.com (the "Website"); our mobile application (the "Application" or "App" and together with the Website, the "Platform"); and the products and/or services that are available through the Platform (the "Services"). All users who use or access our Services become users pursuant to Beam's Privacy Policy and these Terms and thereby signify their acceptance of said policies and terms. "Beam", "us", "our", or "we" means Beam and its successors, affiliates and assignees. "You" and "your" means the person who uses or accesses the Services. "Beam Account" means the Evolve Bank & Trust deposit account in your name opened by you using the Platform. The Platform uses Synapse Financial Technologies, Inc. (“Synapse”), a third-party bank software provider and agent of Evolve Bank & Trust, Member FDIC (the “Bank”) to open these FDIC-insured accounts.

By using or accessing the Services, you agree to be bound by these Terms, our Privacy Policy, and our Security Policy. If you do not agree to these Terms, our Privacy Policy, and our Security Policy, do not use or access the Services. By opening up a deposit account through the Platform, you agree to the Evolve Bank & Trust Deposit Agreement, Truth in Savings Disclosure and Privacy Policy, and Synapse's Terms of Service and Privacy Policy.

These Terms Contain a Binding Arbitration Provision. These Terms provide that all disputes between you and Beam will be resolved by binding arbitration. ACCORDINGLY, YOU AGREE TO GIVE UP YOUR RIGHT TO GO TO COURT (INCLUDING IN A CLASS ACTION PROCEEDING) to assert or defend your rights under these Terms (except for matters that may be taken to small claims court). Your rights will be determined by a neutral arbitrator and not a judge or jury and your claims cannot be brought as a class action. Please review the arbitration provision below for the details regarding your agreement to arbitrate any disputes related to these Terms or the Services and your right to opt-out of the arbitration provision.

1. Beam Reward

Through the use of the Services you can earn money on settled funds in your Beam Account as described in this Section. The amount of settled funds in your Beam Account is your "Reward Balance". The amount you will earn on your Reward Balance is the "Reward Payout" paid by Beam. The reward paid by Beam on the Reward Balance will be a minimum of 2% per annum. Funds are "settled" when actually received by the Bank. Beam limits the amount you may deposit to your Beam Account as disclosed in the App.

You can increase the amount of your Reward Payout above 2% per annum by engaging with the App and performing certain activities, such as making referrals. Each day, the amount of the Reward Payout will reset to 2% per annum. It is possible to increase the Reward Payout to 4% per annum or more on your Rewards Balance, but we make no guarantee or representation that you will be able to do so. We reserve the right to modify, at any time, the methods for earning a Reward Payout.

At the end of each day the Beam reward rate for your Beam Account as reflected in our records will be used to determine your daily Reward Payout, if any. We will take the Beam reward rate for your Beam Account at the end of the day and divide that by 365 to get the daily rate (the "Daily Reward Rate") for a particular day. To calculate the daily Reward Payout, we will take the Daily Reward Rate for that day and multiply it by the Rewards Balance at the beginning of that day. Fractions of a penny will be rounded down and those fractions of a penny will be carried forward to the next day for purposes of determining the next day's Reward Payout. Beam will deposit the Reward Payout you earn each day to your Beam Account by the end of the next calendar day.

2. Beam Account.

Obtaining Balance Information. You may obtain information about the balance of funds in your Beam Account at any time by logging into the App.

Maximum Deposit. We may limit the amount you may deposit to your Beam Account. Any such limit will be disclosed in the App.

Fees. The Bank's fees for the Beam Account are disclosed in the Bank's Deposit Agreement and Truth in Savings Disclosure. Beam has agreed to pay to the Bank, on your behalf, any fees incurred by you and imposed by the Bank on your Beam Account.

3. Minimum Requirements to Use the Services.

To use the Services, you must: (a) be a U.S. citizen (or a legal U.S. resident) at least 18 years of age (or older if you reside in a state where the majority age is older); (b) accept and agree to these Terms and our Privacy Policy and Security Policy; (c) have an existing bank account with a U.S. financial institution; (d) complete Beam's sign up process on the Application; and (e) provide all information requested by us, such as your name, email address, mobile device number, online credentials for your external bank account, and such other information as we may request from time to time (collectively, "User Information"). You represent and warrant that all User Information you provide us will be true, accurate, and complete to the best of your knowledge. You must notify us promptly of changes to your User Information by updating your information in the Application.

4. Verification of Your Identity

For our compliance purposes and in order to provide the Services to you, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and bank account information. When you register for the Services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as:

  • A copy of your government-issued photo ID, such as a passport or driver's license; and
  • Such other information and documentation that we may require from time to time.

By using the Services and providing User Information to us, you automatically authorize us to obtain, directly or indirectly through our third-party service providers, information about you and your external bank account from the financial institution holding your external bank account and other third-party websites and databases as necessary to provide the Services to you. You agree that other third parties will be entitled to rely on the foregoing authorization granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your external bank account and other third-party websites and databases for any purpose. The information you provide us is subject to our Privacy Policy.

5. USA PATRIOT Act Notice

Important information about procedures for using our services under the USA PATRIOT Act of 2001: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you use our services, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a form of identification with your photograph or other identifying documents.

6. Linking an External Bank Account

When you set up your profile via the Services, you will need to link at least one external bank account ("External Account") to your profile in order to utilize the ability to earn a Beam reward using the Services. You represent and warrant that you have the right to control any External Account you sign into via the Services. The integration service enabling you to sign into an External Account via the Services is provided by Plaid Technologies, Inc. and/or Synapse Financial Technologies, Inc. ("Synapse"). By using the service, you agree to Synapse's Terms of Service. You authorize Plaid Technologies, Inc. and/or Synapse, pursuant to your instructions, to access your External Account and link it to the Beam Account via the Services.

When you use the "Add Account" feature of the Service, you will be connected to the website for the third party financial institution you have identified (or its authorized third party). You will be instructed to submit information including usernames and passwords that you provide to log you into such third party website(s). As part of the Services, Beam will retrieve balance and other information from the External Accounts you link to your Beam Account. You authorize Beam to access your account information maintained by identified third parties, on your behalf as your agent. Beam makes no effort to review the account information for accuracy or any other purpose and is not responsible for the accuracy of such information. Beam is not responsible for the products and services offered by or on third-party sites. The Platform is not sponsored or endorsed by any third party financial institution at which you have an External Account.

If during the course of linking your External Account your profile is flagged for review by our compliance systems, you may be asked to upload documentation supporting your identity. You agree only to upload documentation that is current, accurate, and belongs to you. Deposits into your Beam Account may take up to 3-5 business days to process. During that time the funds will be unavailable for withdrawal or other use.

7. Transferring Funds

To Your Beam Account. You may transfer funds from your External Account to your Beam Account via ACH using the Services. Only funds from your External Account may be transferred to your Beam Account. The funds in your Beam Account are held at an FDIC-insured bank in an account in your name. We are not responsible for any third-party fees that you may incur as a result of using the Services, including, but not limited to, third-party fees incurred as a result of maintaining insufficient funds in your External Account.

From Your Beam Account. You may transfer any or all of your funds from your Beam Account to your External Account using the Services. You may not withdraw cash. We will generally complete the requested transfer from your Beam Account to your External Account within two business days from our receipt of your request. You authorize us to transfer funds from your Beam Account to your External Account without notice to you upon the closure of your Beam Account as described below and at any time if required by applicable law or if we, in our sole discretion, suspect the Services are being used for unlawful purposes or otherwise in violation of these Terms.

8. ACH Processor Terms of Service

We have partnered with Synapse, a third-party banking software provider and agent of Evolve Bank & Trust, Member FDIC, to provide electronic bank transfers (i.e. ACH Bank Transfers). When you sign up for a Beam Account on our Platform, you will also agree to the Synapse Terms of Service. You authorize us to share your identity and banking information with Synapse to open and support your Beam Account as further detailed in our Privacy Policy and Synapse's Privacy Policy. It is your responsibility to make sure the data you provide us is accurate and complete. It is your responsibility to read, understand and comply with the Synapse Terms of Service. If you have any questions or issues regarding the services provided by Synapse, please contact Synapse by emailing help@synapsefi.com.

9. Technical Issues

By using the Platform you acknowledge that use of the Services involves transmissions over various networks. Beam is not responsible for incorrect or inaccurate transcription of information, for problems related to any of the equipment or programming associated with the Services, for any interruption, deletion, omission, defect, or line failure of any network or electronic transmission, for problems relating to computer equipment, software, inability to access the Platform or the Services, or for any other technical or non-technical error or malfunction.

10. Beam's Application and Updates

You may not use the Services in any manner that may impair, overburden, damage, disable or otherwise compromise (i) the Services; (ii) any other party's use and enjoyment of the Services; or (iii) the services and products of any third parties including, without limitation, any device through which you access the Application. You agree to comply with all local laws and regulations governing the downloading, installation and/or use of the Application, including, without limitation, any usage rules set forth in the online application store terms of service. From time to time, Beam may automatically check the version of Application installed on the device through which you access the Application and, if applicable, provide updates for the Application. Updates may contain, without limitation, bug fixes, patches, enhanced functionality, plug-ins and new versions of the Application. By installing the Application, you authorize the automatic download and installation of updates and agree to download and install updates manually if necessary. Your use of the Application and updates will be governed by these Terms (as amended by any terms and conditions that may be provided with updates). Beam reserves the right to temporarily disable or permanently discontinue any and all functionality of the Application at any time without notice and with no liability to you.

11. Security and Restrictions

Any attempt to tamper with the Platform and/or disable or circumvent its security features; modify, adapt, translate, decompile or reverse engineer any portion of the Platform; use any robot, spider, scraper, deep link, site search/retrieval application or other automated device, extraction tools, programs or algorithms, process or means to access, retrieve or index any portion of the Platform; add or use ActiveX, Java, Javascript, cookies, web beacons or other tracking technologies on the Platform; post or transmit any file which contains viruses, worms, defects, Trojan horses or other items of a destructive or contaminating nature; conduct unauthorized access to Beam or Beam user or customer data; manipulate the Beam offerings; upload or transmit false information or information that infringes on intellectual property rights; remove any copyright, trademark or other proprietary rights notices contained in or on the Platform; upload or transmit unsolicited or unauthorized advertising or solicitation or harmful, deceptive, harassing, defamatory, abusive, threatening, obscene, libelous, unlawful content as determined in Beam's sole discretion; make false statements; create user accounts by automated means or under false or fraudulent pretenses; collect personal data on Beam users; or violate these Terms or other provisions is subject to prosecution and/or legal remedies and other actions Beam may in its sole discretion elect to take. Beam will comply with government, law enforcement, or regulatory requests to the full extent of the law. We offer the Services solely for your personal use for the purposes described therein and in these Terms. Any and all other uses are prohibited. You may only use the Services for your own personal, non-commercial use. Your use of the Services must comply with all applicable law.

12. Security of your Access Information

You agree not to authorize any other person or entity to use your user name and password or mobile device to access the Services. You are solely responsible for the maintenance, confidentiality, and security of your username and password. Except as otherwise required by applicable law, you are responsible for all transactions and other activities authorized or performed using your username and password or mobile device, whether authorized or unauthorized by you. Except as otherwise expressly stated in these Terms or required by applicable law, we are not responsible for any losses arising out of the loss or theft of your User Information, access credentials, or your mobile device or from unauthorized or fraudulent transactions associated with your External Account or your Beam Account. Your passwords and confidential data should be not shared by email.

13. Unauthorized Access

If your mobile device is lost or stolen or if you suspect someone has gained unauthorized access to your username or password or mobile device, you must contact us immediately at yourfriends@meetbeam.com. In order to take any action, you will need to provide us information to verify your identity.

14. Electronic Fund Transfer Disclosures

Consumer Liability. Tell us AT ONCE if you believe your mobile device or access credentials have been lost or stolen, or if you believe that an electronic fund transfer has been made without your permission. Telephoning is the best way of keeping your possible losses down. You could lose all the money in your account (plus your maximum overdraft line of credit). If you tell us within 2 business days after you learn of the loss or theft of your mobile device or access credentials, you can lose no more than $50 if someone used your Beam Account without your permission.)

If you do NOT tell us within 2 business days after you learn of the loss or theft of your mobile device or access credentials, and we can prove we could have stopped someone from using your mobile device or access credentials without your permission if you had told us, you could lose as much as $500.

Also, if your statement shows transfers that you did not make, including those made by card, code or other means, tell us at once. If you do not tell us within 60 days after the statement was mailed to you, you may not get back any money you lost after the 60 days if we can prove that we could have stopped someone from taking the money if you had told us in time. If a good reason (such as a long trip or a hospital stay) kept you from telling us, we will extend the time periods.

Contact in event of unauthorized transfer. If you believe your mobile device or access credentials have been lost or stolen, call: (650) 550-0028 or write: Beam Financial, Inc., 1540 Market St, Suite 100, San Francisco, CA 94102. If you believe a transfer has been made without your permission, please email help@synapsefi.com.

Business days. For purposes of these disclosures, our business days are Monday through Friday, excluding holidays.

Transfer types and limitations.

(1) Account access. You may use your Beam Account to transfer funds between your Beam Account and External Account.

(2) Limitations on dollar amounts of transfers. You may transfer up to $15,000 to or from your Beam Account each business day using the Service. This limitation is subject to change, subject to any notice required by applicable law.

Fees. The Bank's fees for transferring funds are disclosed in the Bank's Truth in Savings Disclosure. However, Beam has agreed to pay those fees on your behalf. Therefore, you will not be required to pay to Beam or the Bank any fees for transferring funds between your Beam Account and External Account. We are not responsible for any fees charged by the financial institution where you have your External Account.

Confidentiality. We will disclose information to third parties about your account or the transfers you make: (i) Where it is necessary for completing transfers, or (ii) In order to verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or (iii) In order to comply with government agency or court orders, or (iv) If you give us your written permission or as described in our Privacy Policy.

Documentation

(1) Preauthorized credits. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, you can call us at (650) 550-0028 to find out whether or not the deposit has been made.

(2) Periodic statements. You will get a monthly account statement (unless there are no transfers in a particular month) from Beam. In any case you will get the statement at least quarterly.

Preauthorized payments

(1) Right to stop payment and procedure for doing so.If you have told us in advance to make regular payments out of your account, you can stop any of these payments. Here's how: Call us at (650) 550-0028, or write us at 1540 Market St, Suite 100, San Francisco, CA 94102, in time for us to receive your request 3 business days or more before the payment is scheduled to be made. If you call, we may also require you to put your request in writing and get it to us within 14 days after you call.

(2) Notice of varying amounts. If these regular payments may vary in amount, the person you are going to pay will tell you, 10 days before each payment, when it will be made and how much it will be. (You may choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.)

(3) Liability for failure to stop payment of preauthorized transfer. If you order us to stop one of these payments 3 business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Liability. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

(1) If, through no fault of ours, you do not have enough money in your account to make the transfer.

(2) If the money in your account is being held subject to legal process restricting transfers to or from your account.

(3) If you have not complied with our instructions on how to make a transfer.

(4) If the system was not working properly and you knew about the breakdown when you started the transfer.

(5) If circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken.

(6) There may be other exceptions stated in our agreement with you or in the Deposit Agreement.

In Case of Errors or Questions About Your Electronic Transfers: Call us at (650) 550-0028, write us at 1540 Market St, Suite 100, San Francisco, CA 94102, or email us at yourfriends@meetbeam.com and email help@synapsefi.com as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

15. Intellectual Property

Beam retains full, irrevocable, royalty-free, worldwide, sub-licensable, and perpetual intellectual property rights around any user generated content uploaded, shared, transmitted, or otherwise disseminated on the Platform or through other communications channels. Beam can store, use, reproduce, modify, and adapt such content and will retain full rights to any derivative works or compilations of such content; users warrant by their actions that they have the necessary rights to grant such licenses to Beam. Beam can further delete such content at any time and for any reason. Beam is the owner and/or authorized user of all text, images, data representations, animation, music, sounds, and any and all other materials on the Platform. You may not copy, reproduced, republish, disseminate, exploit, distribute, or otherwise incorporate any material found on the Platform or in Beam's communications. Such materials are protected by U.S. and international copyright and treaty provisions without limitation as copyrights, trademarks, service marks, logos, and other intellectual property.

16. Communications

By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later connect to a cellular device, you are expressly consenting to receiving communications (including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system) from us, our affiliates, and our agents at that number. This consent applies to each such telephone number that you provide to us now or in the future and permits such calls for non-marketing purposes. Calls and messages may incur access fees from your cellular provider.

17. Monitoring of Communications

All telephone, electronic, or other communication between Beam and its users and customers is subject to monitoring, recording, review, and archiving. You consent to the recording of any electronic or written correspondence and any or all telephone conversations between you and us in connection with these Terms or the Services and agree and understand that recordings may be submitted in evidence in any legal proceeding relating to these Terms or your use of the Services.

18. Third-Party Links

Beam is not responsible for the privacy, security, or information policies of third party links from or on the Platform. Clicking on said links may take the user to other sites or display information from third parties. Beam is not responsible for the content, privacy policies, terms of use, or any other factor of such third parties. It assumes neither liability nor responsibility for their actions, information, or communication. Such products, services, or content are provided without endorsement or warranty of any kind. User accepts sole responsibility for accessing such links.

19. User Content

We have no obligation to monitor and no ability to control the information users publicly place on our Platform. We do not endorse any opinion, recommendation, and information that is expressed in this fashion. By accessing the Platform or using the Services, you waive any rights or remedies against us in relation to such data.

20. Consent for Users Providing Financial Data

  1. Consent to Collect Your Transaction Data. You will provide us with access to upload or collect certain of your financial data from your External Accounts, including for example and without limitation transaction dates, the merchants involved, the transaction types and the amounts, other information, data, passwords, or other content (collectively "Transaction Data").
  2. Use of Your Transaction Data. Transaction Data and any other information about or submitted by you, including data collected about your use and activities on or with the Platform, are subject to Beam's Privacy Policy.
  3. License to Your Transaction Data. Subject to the restrictions described in the Privacy Policy (and provided you are using or participating in any Services that involves the collection and/or use of financial Transaction Data), you grant Beam and its service providers a license to use such Transaction Data for the Services and to operate, provide, administer, develop, and improve the Services, subject to Beam's Privacy Policy. Beam and its service providers may use, modify, display, distribute and create new material using the Transaction Data to provide Services to you. Beam and its service providers may also use, sell, license, reproduce, distribute, disclose and aggregate, any information about you, your activities and behavior that cannot be used to identify or contact you and that is derived through your use of the Services. By submitting the Transaction Data, you agree that the owner of the Transaction Data has expressly agreed that, without any particular time limit, and without the payment of any fees, Beam and its service providers may use the Transaction Data for the purposes set out above. As between Beam and its service providers, Beam owns your Transaction Data. Beam's service provides are those third parties that are under contract with Beam to help provide, administer, develop, operate and improve the Services.
  4. No Liability for Transaction Data. Under no circumstances will Beam be liable in any way for any Transaction Data, including any errors or omissions in any Transaction Data, any modification, loss or deletion of any Transaction Data or any loss or damage of any kind incurred as a result of the use of or reliance upon any Transaction Data or the analysis or summary thereof. You hereby affirm, represent and warrant that you have the necessary right and permissions required (i) to provide us with and allow us to access and collect any Transaction Data, and (ii) for Beam to use such Transaction Data in accordance with these Terms and the Beam's Privacy Policy.
  5. Removal and Deletion of Transaction Data. Beam reserves the right to remove, delete, block, edit or modify any Transaction Data at any time, subject to applicable regulatory retention requirements, without prior notice and at in its sole discretion for any reason or no reason. Beam has no obligation to retain or delete any of your Transaction Data beyond any applicable regulatory retention periods to which Beam is subject.
  6. Use Information. Beam may track and archive certain information regarding your use of the Platform or Services, which information does not reveal your personal identity.

21. Disruption of Service

Beam's office is in San Francisco, however all customer information and records are retained in secured storage in a cloud based platform which is located in a geographically separate area from our offices. We intend for account access to be available through these records should our offices suffer a disruption. Under normal conditions, you can contact us by email at our offices (yourfriends@meetbeam.com). If, after a significant disruption, you cannot contact us by this standard method, please check www.meetbeam.com to find alternate or temporary contact information and updated information on what we are doing to quickly recover and resume business. Our plan also provides for immediate contact of our third party service providers deemed critical to ongoing operations, and therefore the service providers will be apprised on our current situation and immediate continuity plans. If you are unable to contact us by any of the above means, you should contact the appropriate service provider regarding your Beam Account. Our business continuity plan will be reviewed, updated and tested periodically.

22. Use of Cookies

Like most online platforms, the Platform requires cookies to function properly. Cookies are small text files that reside on a user's device and identify you as a unique user. We use cookies to refine our Services and simplify the user experience, and it allows us to personalize your experience on the Platform. For these reasons, we tie personally identifiable information such as your email address to our cookies. If you do not want information collected through the use of cookies, there is a simple procedure in most browsers that allows you to deny or accept the cookie feature; however, you should note that cookies might be necessary to provide you certain features available on the Platform.

23. Privacy

We take your privacy seriously. By using the Services, you consent to the collection, use, storage, and disclosure of your information as set forth in these Terms and our Privacy Policy.

24. How to Cancel the Terms or Stop Using the Services

You may stop using the Services, close your Beam Account, and cancel these Terms at any time by contacting us at yourfriends@meetbeam.com and providing sufficient information for us to verify your identity. If there are any pending transactions relating to your Beam Account when we receive your termination notice, we will close your Beam Account promptly after such transactions are completed. Your termination of these Terms will not affect any of our rights or your obligations arising under these Terms prior to termination.

Upon the closure of your Beam Account, we will transfer the funds in your Beam Account, if any, to your External Account. If your External Account is closed or we are otherwise unable to transfer the funds in your Beam Account to your External Account, we will send you a check for the amount of the funds to you at your street address in our records.

If you do not use the Services for a certain period of time, applicable law may require us to report the funds in your Beam Account as unclaimed property. If this occurs, we may try to locate you at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your Beam Account to the applicable state as unclaimed property. The specified period of time to report and deliver funds to a state varies by state, but usually ranges between two and five years.

25. Changes to these Terms or the Services

We reserve the right to amend these Terms at any time, in our sole discretion, without providing notice to you, subject to applicable law. We reserve the right, subject to applicable law, to deliver to you any notice of changes to existing terms or the addition of new terms by posting an updated version of these Terms on the Platform or delivering notice thereof to you electronically. Your continued use of the Services will constitute your acceptance of any revised version of these Terms. Except as otherwise expressly stated by us, your access and use of the Services are subject to, and constitute your acceptance of, the version of these Terms in effect at the time of your access or use.

26. Suspension, Termination and Closure

To the extent permitted by applicable law, we reserve the right, in our sole discretion and without advance notice to you or liability to you, to terminate, cancel, or suspend access to your use of the Services or your Beam Account for any reason, including, but not limited to, your breach of these Terms or if you have provided information to Beam that is untrue, inaccurate, not current or incomplete or Beam has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete. We may close your Beam Account at any time upon reasonable notice to you and credit any funds held in your Beam Account at the time of termination to your External Account.  In some cases, such as when we cannot verify your identity or we suspect fraud, it might be reasonable for us to give you notice after the change or account closure becomes effective. If we suspect unauthorized, fraudulent or illegal activity in your Beam Account, we may freeze your Beam Account pending further investigation. We are not responsible for damages suffered by you or any inconvenience caused directly or indirectly by our termination, suspension, or restriction of your access to the Platform or Services.

27. Additional Terms

By accessing or using the Services, you may be subject to additional terms, rules, policies, and conditions that are posted on the Website or the Application, including, but not limited to, terms and conditions for our referral or rewards program, which are hereby incorporated by reference into these Terms. In the event of a conflict between any additional terms and these Terms, these Terms will control.

28. Warranty Disclaimer

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS, YOU AGREE THAT YOUR USE OF THE SERVICES AND ALL CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE PLATFORM IS AT YOUR SOLE RISK. THE SERVICES AND PLATFORM ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY WARRANTY OF ANY KIND. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE AND OUR THIRD-PARTY SERVICE PROVIDERS EXPRESSLY DISCLAIM ANY AND ALL CONDITIONS, REPRESENTATIONS, AND WARRANTIES OF ANY KIND AS TO THE CONTENT OR OPERATION OF THE PLATFORM OR SERVICES AND CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE PLATFORM, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

WITHOUT LIMITING THE FOREGOING, WE AND OUR THIRD-PARTY SERVICE PROVIDERS MAKE NO WARRANTY THAT:

(A) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE,

(B) THE INFORMATION OBTAINED ON THE PLATFORM WILL BE ACCURATE OR RELIABLE,

(C) THE QUALITY OF SERVICES OR INFORMATION OBTAINED BY YOU THROUGH THE PLATFORM WILL MEET YOUR EXPECTATIONS OR REQUIREMENTS,

(D) THAT ANY CONTENT AVAILABLE THROUGH THE PLATFORM IS FREE OF INFECTION FROM ANY VIRUSES OR OTHER CODE OR COMPUTER PROGRAMMING ROUTINES THAT CONTAIN CONTAMINATING OR DESTRUCTIVE PROPERTIES, OR

(E) ANY ERRORS IN THE SERVICES WILL BE CORRECTED.

NO ORAL OR WRITTEN INFORMATION OBTAINED BY YOU FROM US OR OUR THIRD-PARTY SERVICE PROVIDERS THROUGH OR FROM THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.

29. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, YOU AGREE THAT BEAM, ITS AFFILIATES, AND ITS AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, AND THIRD-PARTY SERVICE PROVIDERS WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR:

(A) THE PERFORMANCE OF THE SERVICES OR THE INABILITY TO USE THE SERVICES;

(B) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, OR OTHER INTANGIBLE LOSSES, EVEN IF SUCH PERSONS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHICH ARISE OUT OF OR ARE IN ANY WAY CONNECTED WITH THESE TERMS OR THE SERVICES;

(C) ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF $200 OR THE AMOUNT TRANSFERRED FROM YOUR EXTERNAL ACCOUNT TO YOUR BEAM ACCOUNT VIA THE SERVICES; OR

(D) ANY EVENT BEYOND OUR REASONABLE CONTROL.

SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.

ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK, AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL.

30. Indemnity

You agree to indemnify and otherwise hold harmless Beam, each of its affiliates and each of their respective officers, directors, employees, agents, partners and representatives from any and all claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorneys' fees) arising from or in any way related to any third-party claims relating to: (i) your use of the Platform or Services, (ii) your fraud or willful misconduct, or (iii) any breach of these Terms.

31. ARBITRATION PROVISION

  1. Scope of Arbitration Provision. All disputes and claims between you and us relating to the Services or these Terms will be resolved through binding individual arbitration (unless you opt out of this arbitration provision using the process explained below). But, either you or we may bring an individual claim in small claims court as long as it is brought and maintained as an individual claim. All issues are for the arbitrator to decide, except that issues relating to the validity, enforceability, and scope of this arbitration provision will be determined by the court and not the arbitrator. As used in this arbitration provision, "we" and "us" mean Beam and its subsidiaries, affiliates, predecessors, successors, and assigns and all of its and their respective employees, officers, directors, agents, and representatives. In addition, "we" and "us" include any third party providing any product, service, or benefit in connection with the Services or these Terms if such third party is named as a co-party with us in any controversy, dispute, demand, claim, or cause of action subject to this arbitration provision.
  2. Your Right to Opt Out of this Arbitration Provision. If you wish to opt out of this arbitration provision, you must notify us of your election in writing within 30 days of the date that you first became subject to this arbitration provision or within 30 days of the effective date of any material change to these Terms by sending a written notice to us by certified mail at the following address: Beam Financial, Inc., 1540 Market St, Suite 100, San Francisco, CA 94102, Attn: Arbitration Opt-Out. Your opt-out notice must include your name, address, phone number, and email address.
  3. How Arbitration Works. Either you or we may initiate arbitration, which will be conducted by the American Arbitration Association ("AAA") pursuant to its Consumer Arbitration Rules ("AAA Rules"), as modified by this arbitration provision. The AAA Rules are available on the AAA's website www.adr.org, or by calling the AAA at (800) 778-7879. If the AAA is unavailable or unwilling to hear the dispute, the parties will agree to, or the court will select, another arbitration provider. Unless you and we agree otherwise, any arbitration hearing will take place in the federal judicial district of your residence. We encourage you to contact us in advance of filing a claim for arbitration to see if the dispute can be resolved prior to arbitration.
  4. Waiver of Right to Bring Class Action and Representative Claims. All arbitrations will proceed on an individual basis. The arbitrator is empowered to resolve the dispute with the same remedies available in court, including compensatory, statutory, and punitive damages; attorneys' fees; and declaratory, injunctive, and equitable relief. However, any relief must be individualized to you and will not affect any other user. The arbitrator is also empowered to resolve the dispute with the same defenses available in court, including but not limited to statutes of limitation. You and we also agree that each may bring claims against the other in arbitration only in your or their respective individual capacities and in so doing you and we hereby waive the right to a trial by jury, to assert or participate in a class action lawsuit or class action arbitration, to assert or participate in a private attorney general lawsuit or private attorney general arbitration, and to assert or participate in any joint or consolidated lawsuit or joint or consolidated arbitration of any kind. If a court decides that applicable law precludes enforcement of any of this paragraph's limitations as to a particular claim for relief, then that claim for relief (and only that claim for relief) must remain in court and be severed from any arbitration. We do not consent to, and the arbitrator has no authority to conduct, any class action arbitration, private attorney general arbitration, or arbitration involving joint or consolidated claims, under any circumstance.
  5. Arbitration Costs. We will pay all filing, administrative, arbitrator and hearing costs.
  6. Other Terms. This arbitration provision will be governed by, and interpreted, construed, and enforced in accordance with, the Federal Arbitration Act and other applicable federal law. Except as set forth in this arbitration provision, if any portion of this arbitration provision is deemed invalid or unenforceable, it will not invalidate the remaining portions of the arbitration provision. This arbitration provision will survive termination of your Beam Account and these Terms.

32. MISCELLANEOUS

  1. Governing Law. These Terms will be governed by and construed, interpreted and enforced in accordance with the laws of the State of California, consistent with the Federal Arbitration Act, without giving effect to conflict of laws principles.
  2. Assignment. You may not assign these Terms, your rights or obligations under these Terms, or your Beam Account without prior written consent from Beam. Any unauthorized attempt by you to assign these Terms or your Beam Account will be null and void. To the extent permitted by applicable law, we may transfer or assign these Terms and our rights and obligations hereunder without your consent.
  3. Severability. If any provision of these Terms is held to be invalid or not enforceable the remaining provisions will continue to be in full force and effect. Beam's failure to enforce a right or provision for any period will not be deemed to signify a waiver of such right or provision.
  4. Third-Party Beneficiary. Our third-party services providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.
  5. Entire Agreement. These Terms, together with our Privacy Policy and Security Policy, constitute the entire and sole agreement between you and us with respect to the Services and supersedes all prior understandings, arrangements, or agreements, whether written or oral, regarding the Services.
  6. Taxes. You will be responsible for paying, withholding, filing, and reporting all taxes and other governmental assessments associated with your activity in connection with the Beam Account and the Services.
  7. Contacting Us. If you have any questions, comments, or concerns regarding these Terms or the Services, please contact us atyourfriends@meetbeam.com, or Beam Financial, Inc., 1540 Market St, Suite 100, San Francisco, CA 94102, or (650) 550-0028.

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