Legal - Terms & Conditions

The Services

The Services constitute a technology platform accessible via the Applications that enables Limited members to receive personalized offers, cashback, concierge services, and other incentives on third-party products and services.

Changes to the Terms of Use

We may update these Terms of Use from time to time and may amend them at any time to incorporate additional terms specific to additional features, applications, opportunities, or services that we may make available on or through the Services. All such updates and amendments are effective immediately upon notice thereof, which we may give by any means, including, but not limited to, by posting a revised version of these Terms of Use. You should review these Terms of Use often to stay informed of changes that may affect you, as your continued use of the Services signifies your continuing consent to be bound by these Terms of Use.

Access and Use

In these Terms of Use, "you" and "your" refer to (a) you, the individual accessing the Services, and (b) the business entity on whose behalf an individual or electronic agent is accessing the Services. You represent and agree that all information that you provide to Limited in connection with your access to and use of the Services is and shall be true, accurate, and complete, to the best of your knowledge, ability, and belief. We reserve the right to terminate these Terms of Use or to refuse, restrict, or discontinue service or access to the Services to you or any other person or entity, for any reason or for no reason whatsoever, at any time, without notice or liability.

User Responsibility; No Unlawful or Prohibited Use

Any use or attempted use of the Services for any unauthorized, fraudulent, or malicious purpose is strictly prohibited. You agree not to:

• Upload or transmit unlawful, harmful, or offensive content.
• Create a false identity to mislead others.
• Upload material that infringes on intellectual property rights.
• Attempt to gain unauthorized access to systems or networks related to the Services.

We reserve the right to monitor and enforce these terms and to take appropriate actions, including the suspension or termination of your account, in response to violations.

Proprietary Content

Limited owns or licenses all rights, title, and interest in the Services and their content, including text, data, software, graphics, and other materials (collectively, "Content"). You acquire no ownership interest in the Content and agree not to reproduce, distribute, or create derivative works based on it.

Subscription Services

From time to time, Limited may offer subscription-based services. To purchase a subscription, you must be at least 18 years old and provide a valid payment method. Subscription products are non-refundable but may be canceled at any time through your account settings.

Disclaimer of Warranties

The Services are provided on an "as is" and "as available" basis. Limited makes no warranties or guarantees regarding the reliability, accuracy, or suitability of the Services for your specific purposes. Your use of the Services is at your own risk.

Limitation of Liability

Limited and its affiliates shall not be liable for any indirect, incidental, or consequential damages arising from your use of the Services, even if advised of the possibility of such damages. In jurisdictions that do not allow such exclusions, Limited's liability shall be limited to the fullest extent permitted by law.

Indemnification

You agree to indemnify and hold Limited harmless from any claims, damages, or expenses arising from your use of the Services or violation of these Terms of Use.

General

These Terms of Use constitute the entire agreement between you and Limited regarding your use of the Services. Any waiver of these Terms must be in writing. If any provision is found to be unenforceable, the remaining provisions shall remain in full force and effect.

For additional questions, please contact support@limitedapp.com.

Definitions

• Account: Your demand deposit account held at Cross River Bank.
• Access Credentials: The phone number, email, and/or other personal identifiers used to access your Account through Limited's application.
• ACH (Automated Clearing House): Electronic transactions processed through the ACH network.
• Available Balance: The funds in your Account that are available for withdrawal or to authorize transactions.
• Business Day: Monday through Friday, excluding federal holidays.

About the Account

1. Demand Deposit Nature: This is a non-interest-bearing demand deposit account (DDA). The Account does not earn interest and is designed for regular deposit and withdrawal activities.
2. Accessing the Account: Your Account is accessible exclusively through Limited's mobile or web application ("Limited App"). You may only make deposits or withdrawals electronically through ACH transactions or other electronic fund transfers (EFTs).
3. Authorization: By using the Limited App, you authorize Limited to act on your behalf to facilitate transactions on your Account with the Bank.

Opening Your Account

1. Identity Verification: To comply with federal law, we are required to obtain and verify identifying information, including your name, residential address, Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), and date of birth. You may also need to provide government-issued identification.
2. Eligibility: You must be at least 18 years old, and have a verifiable proof of address document.
3. Consumer Reporting Authorization: By applying for an Account, you authorize us to obtain information about you from consumer reporting agencies or other third parties as permitted by law.

Deposits

1. Permitted Deposits: Deposits may be made via ACH transactions, direct deposits, or other electronic methods supported by the Limited App. Cash and checks are not accepted.
2. Deposit Limits: We reserve the right to establish or modify limits on deposits at our sole discretion.
3. Funds Availability: Deposits will be available for withdrawal as outlined in the Funds Availability Policy section. Funds from ACH credit entries are generally available the same Business Day they are received.

Withdrawals and Transfers

1. Permitted Withdrawals: You may withdraw funds by initiating EFTs via the Limited App. Withdrawals must not exceed your Available Balance.
2. Cutoff Time: Withdrawal requests received by 2:00 PM Eastern Time on a Business Day will generally be processed the same day.
3. Insufficient Funds: If a transaction exceeds your Available Balance, we may decline the transaction or allow it at our sole discretion, resulting in a negative balance. You must promptly restore your balance to at least $0.00.

Fees and Charges

Fees associated with your Account, including ACH transfers, will be disclosed separately in the Fee Schedule provided to you upon account opening and available within the Limited App.

1. Eligibility and Registration

To use the Service, you must register and agree to the following:

1. You are at least 18 years old and of the legal age of majority in your jurisdiction.
2. You hold a U.S. bank account, in your name, that will serve as the source of funds for transfers using the Service.
3. You are not acting as an agent for an undisclosed third party without prior authorization from us.
4. All information you provide is accurate and up-to-date, and you agree to promptly notify us of any changes.

2. Identity Verification Process

To comply with Federal law, Limited is required to verify your identity. We may request your name, address, date of birth, taxpayer ID, phone number, email address, and government-issued identification documents. Additional documentation may be required if necessary.

3. Description of the Service

The Service enables the transmission of funds to recipients ("Recipients") in other countries, in currencies other than USD. Transfers may be executed via electronic funds transfer, wire transfer, or other methods. We reserve the right to amend or refuse service at our discretion.

4. Compliance with OFAC Regulations

We comply with Office of Foreign Assets Control ("OFAC") regulations. Transactions involving sanctioned individuals, entities, or countries may be prohibited or delayed.

5. Types of Orders

1. Fixed Target Payment Orders: Specify the amount of foreign currency to transfer to a Recipient.
2. Fixed Source Payment Orders: Specify the amount of USD to convert into foreign currency and transfer to the Recipient.

6. Prohibited Uses

You agree not to use the Service for unlawful or impermissible purposes, including but not limited to:

• Sale or distribution of prohibited goods or services.
• Activities involving cryptocurrencies.
• Gambling, Ponzi schemes, or pyramid selling.
• Sale or distribution of firearms, controlled substances, or illegal goods.

7. Multiple Registrations

Multiple registrations are prohibited. Each user may register only once. Any duplicate registrations may result in termination of your use of the Service.

8. Exchange Rates

1. Locked-In Exchange Rates: The exchange rate is locked for 96 hours once you initiate a transaction.
2. Unlocked Exchange Rates: Transactions processed after the 96-hour period may be converted at an updated exchange rate.
3. A margin may be applied to exchange rates, which will be disclosed at the time of the transaction.

9. Fees

1. Transaction Fees: Fees will be displayed before you confirm a transaction.
2. Administration Fees: Fees may apply for refused transactions due to incorrect details.
3. Exchange Rate Margins: Margins are included in the offered exchange rate.

10. Transaction History

You can view your transaction history within the Service Application.

11. Refused Transactions

We reserve the right to refuse transactions. Reasons may include incorrect Recipient details, insufficient funds, or regulatory issues. Where possible, we will notify you of the refusal and provide instructions to resolve the issue.

12. Cancellation of Transactions

Transactions may be canceled for a full refund if the funds have not yet been converted.

13. Limitation of Liability

We are not liable for:

• Losses caused by insufficient funds, device errors, or incorrect details provided by you or the Recipient.
• Delays caused by regulatory compliance or circumstances beyond our control.
• Indirect, special, or consequential damages.

14. Privacy

Your privacy is important to us. Please refer to our Privacy Policy for details on how we collect, use, and disclose your personal information.

15. Termination

We may terminate your registration and access to the Service at any time if we suspect misuse or non-compliance with this Agreement.

16. Arbitration and Governing Law

This Agreement is governed by the laws of the State of Delaware. Disputes shall be resolved through binding arbitration under the rules of the American Arbitration Association. No class actions are permitted.

17. Contact Information

For questions or support, contact Limited, Inc. at:

Email: support@limitedapp.com
Mail: Limited, Inc., 600 California Street, 11th Floor, San Francisco, CA 94108