Savings Account Agreement

PLEASE READ THIS DOCUMENT CAREFULLY

Table of Contents

I. Savings Account Agreement and Disclosures

Our Agreement

This agreement contains the Tomorrow Savings Account with Zyng Agreement (the “Agreement”) for the optional Tomorrow Savings Account with Zyng (“Account”, “Tomorrow Savings Account with Zyng,” or “ZYNLO Tomorrow Savings Account with Zyng”) made available to eligible consumers by ZYNLO, Holyoke, Massachusetts, member of the Federal Deposit Insurance Corporation (“FDIC”) (“ZYNLO” or “Bank”) on behalf of NYMBUS Inc. (“Nymbus”). Nymbus is the program partner responsible for managing the Tomorrow Savings Account with Zyng and its related Today Spending Account, defined below. “We”, “our”, and “us” refer to the Bank, Nymbus, our successors, affiliates, or assignees. “You”, “your”, and “member” refer to the owner of the Tomorrow Savings Account with Zyng.

The Today Spending Account is a demand deposit account available from ZYNLO. The optional interest bearing Tomorrow Savings Account Account with Zyng, is only available to holders of a Today Spending Account.

The holder of a ZYNLO Today Spending Account may submit an application to open a ZYNLO Tomorrow Savings Account with Zyng at http://zynlobank.com. ZYNLO Savings is not designed for business use, and we may close the account if we determine it is being used for business purposes. We may refuse to process any transaction(s) we believe may violate the terms of this Agreement.

Business Days

Our business days are Monday through Friday, excluding federal holidays, even if we are open. Any references to “days” found in this Agreement are calendar days unless indicated otherwise.

Tomorrow Savings Account with Zyng Basics

    • Who is Eligible for a ZYNLO Tomorrow Savings Account with Zyng
      • The optional Tomorrow Savings Account with Zyng is available only to citizens and permanent residents of the fifty (50) United States (“U.S.”) and the District of Columbia who are at least 18 years of age with a valid Social Security number who are holders of a ZYNLO Today Spending Account (“Today Spending Account”). You must agree to accept electronic, rather than paper statements. This means;

(i) you must agree to the terms of the ZYNLO Electronic Disclosures Consent Agreement;

(ii) you must keep us supplied with your valid, current email address; and (iii) you must agree to accept electronic delivery of all account communications (such as end-of-year tax forms and electronic statements).

      • To open a Tomorrow Savings Account with Zyng, your Today Spending Account must be open and active. We may use information from third parties to help us determine if we should open the Tomorrow Savings Account with Zyng.
    • ZYNLO Savings
      • ZYNLO Savings is an optional online Tomorrow Savings Account with Zyng available only to persons who have an open and active Today Spending Account. ZYNLO reserves the right to require seven (7) days notice to withdraw funds.
    • Tomorrow Savings Account with Zyng Titling and Ownership
      • A Tomorrow Savings Account with Zyng may be owned and titled in the name of one owner who may deposit, transfer, or withdraw funds. The owner of the account may choose to add one (1) joint owner during the account opening process, who also has the ability to deposit, transfer, or withdraw funds. The Tomorrow Savings Account with Zyng cannot be owned or titled by an organization, as Payable on Death (“POD”) or “In Trust For” (“ITF”).
    • Death or Incapacitation
      • You or your appointed party, designee, or appointed individual agree to notify us promptly if you become legally incapacitated, are deemed incompetent, or die. We will continue to accept deposits and process transaction instructions into and from the Tomorrow Savings Account with Zyng until we are:

(i) notified of your death or adjudication of incompetency and,

(ii) have a reasonable opportunity to act.

You agree that, even if we have knowledge of your death we may pay or process transactions involving the Tomorrow Savings Account with Zyng on or before the date of death for up to ten (10) days after that date unless ordered to stop by someone claiming an interest in the Tomorrow Savings Account with Zyng. We may require additional documentation to confirm any claims made on the Tomorrow Savings Account with Zyng.

    • Our Relationship With You
      • Neither this Agreement nor the deposit relationship creates a fiduciary relationship between us and you.
    • Privacy Policy
      • Our Online Privacy, Security & Information Gathering Policy and Privacy Notice are available at http://zynlobank.com and are considered part of this Agreement.

 

General Rules Governing Tomorrow Savings Account with Zyngs

The Tomorrow Savings Account with Zyng and your obligations under this Agreement may not be assigned. We may transfer our rights under this Agreement. Use of the Tomorrow Savings Account with Zyng is subject to all applicable rules and customs of any clearinghouse or other association involved in transactions. We do not waive our rights by delaying or failing to exercise them at any time. If any provision of this Agreement shall be 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 will be governed by the laws of the State of Massachusetts except to the extent governed by federal law.

    • Deposits to the Tomorrow Savings Account with Zyng
      • You may make deposits to the Tomorrow Savings Account with Zyng by transferring funds from your Today Spending Account using the Website or the Mobile App. These transfers are referred to as “Online Transfers.”

See the paragraph labeled “2. Transaction Limitations” in Section D for additional details about deposits.

    • Withdrawals from the Tomorrow Savings Account with Zyng

You may withdraw funds from the Tomorrow Savings Account with Zyng by transferring funds to your Today Spending Account using the Website or the Mobile App. These transfers are referred to as “Online Transfers.” Federal regulations limit the number of Convenience Transfers from the Tomorrow Savings Account with Zyng to six (6) per statement cycle. There will be a $25.00 fee assessed for every Convenience Transfer committed over the six (6) limit. After ten (10) convenience transfers are completed in a statement cycle the Tomorrow Savings Account with Zyng will be closed and the funds placed in a new non-interest bearing Today Spending Account.

‘‘Convenient’’ transfers and withdrawals, for purposes of this limit, include:

  • Preauthorized, automatic transfers (including but not limited to transfers from the savings deposit for direct bill payments)
  • Transfers and withdrawals initiated by:
    • Telephone
    • Online or Mobile Banking

*Transfers conducted at an ATM do not count towards the six (6) convenient transfer limit.

    • Preauthorized Transfers

The account number of the Tomorrow Savings Account with Zyng cannot be used for preauthorized direct debits (“ACH Debits”) from merchants, internet service or other utility service providers (“Merchants”) or for the purpose of initiating direct deposits to the Tomorrow Savings Account with Zyng. If presented for payment, ACH Debits and direct deposits will be declined and payment/deposits to or from the Merchant or deposit provider will be returned.

    • Right to Set Off

If the balance of your Today Spending Account should become and then remain negative for fifteen (15) days, the funds, if any, in your Tomorrow Savings Account with Zyng may be used to repay the negative balance. This means we have the right to set-off any liability, direct or contingent, past, present or future that you owe against any account you have with us. Further, you grant us a lien on and security interest in the funds on deposit in each of your accounts as security for all of your liabilities and obligations to us, now or in the future. We will notify you if we have exercised our right to set off.

    • Legal Processes Affecting Savings Accounts

If legal action such as a garnishment, levy or other state or federal legal process (“Legal Process”) is brought against the Tomorrow Savings Account with Zyng, we may refuse to permit (or may limit) transfers from it until the Legal Process is satisfied or dismissed. Regardless of the terms of such garnishment, levy or other state or federal process, we have first claim to any and all funds in your Tomorrow Savings Account with Zyng. We will not contest on your behalf any such Legal Process and may take action to comply with such Legal Process as we determine to be appropriate in the circumstances without liability to you, even if any funds we may be required to pay out leaves insufficient funds for a transfer you have authorized. Payment is made after satisfying any fees, charges or other debts owed to us. You agree that you are responsible for any expenses, including legal expenses and fees we incur due to any Legal Process affecting your Tomorrow Savings Account with Zyng. We may charge these expenses to your Tomorrow Savings Account with Zyng. You will indemnify us for any losses if we do this.

    • Account Inactivity

A Tomorrow Savings Account with Zyng with a zero balance or no customer initiated activity for twelve (12) continuous months is considered inactive and is subject to closure. For purposes of this paragraph, customer initiated activity includes any Online Transfers you make to or from the Tomorrow Savings Account with Zyng. For additional details about closing the Tomorrow Savings Account with Zyng, see the paragraph labeled “6. Amendment and Cancellation” in Section D.

    • Statements

Electronic statements are available to view and print at http://zynlobank.com. Tomorrow Savings Account with Zyng statements are considered to be correct. Carefully review your statement each statement cycle and notify us of any errors within sixty (60) days of your statement becoming available. You also have a right to obtain a sixty (60) day history of your Tomorrow Savings Account with Zyng transactions by calling 844-ZYNLOBA or 844-996-5622. You will not receive paper statements.

 

Truth in Savings Disclosures

    • Opening Deposit and Balance Requirements

There is no minimum deposit requirement to open a ZYNLO Tomorrow Savings Account with Zyng. There is no minimum monthly average balance requirement.

Transaction Limitations

Deposits to the Tomorrow Savings Account with Zyng may be made from your Today Spending Account at the Website or by using the Mobile App. These are the Online Transfer limits that apply to your deposit activity:

Transaction TypeFrequency and/or Dollar Limits*

Online Transfer from Today Spending Account to Tomorrow Savings Account with Zyng

No Limits

Withdrawals may only be made via Online Transfer from the Tomorrow Savings Account with Zyng to your Today Spending Account. Federal regulations limit the number of Online Transfers from the Tomorrow Savings Account with Zyng to six (6) per statement cycle. Any transfers initiated from the Tomorrow Savings Account with Zyng after the sixth transfer will be blocked until the start of the next statement cycle.

    • Funds Availability

All Online Transfers are completed electronically. You will have immediate availability to your funds once they are transferred from the Tomorrow Savings Account with Zyng to your Today Spending Account or from the Today Spending Account to the Tomorrow Savings Account with Zyng.

    • Amendment and Cancellation

We may amend or change the terms and conditions of this Agreement at any time by posting the amended Agreement at http://zynlobank.com, and any such amendment shall be effective upon such posting to the Website. The Agreement is also available at http://zynlobank.com. You will be notified of any amendment(s) in the manner provided by applicable law prior to the effective date of the amendment(s). However, if the amendment(s) is made for security purposes, we can implement it without prior notice.

We may cancel or suspend your Tomorrow Savings Account with Zyng or this Agreement at any time. You may cancel this Agreement by calling 844-ZYNLOBA or 844-996-5622 to close your Tomorrow Savings Account with Zyng. Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to cancellation.

If your Tomorrow Savings Account with Zyng is cancelled, closed or terminated for any reason, any remaining balance will be transferred to your Today Spending Account. If your Tomorrow Savings Account with Zyng is closed prior to the end of the statement cycle, any accrued interest earned for that cycle will be forfeited. Important:

If your Today Spending Account is closed for any reason, the Tomorrow Savings Account with Zyng will automatically be closed. Upon closure, any remaining funds in the Tomorrow Savings Account with Zyng, including any interest payments due to you, will be aggregated with the remaining funds in your Today Spending Account. The aggregated funds will then be made available for refund in accordance with the terms of the paragraph labeled “9. Amendment and Cancellation” found in Section C of the ZYNLO Deposit Account Agreement where we describe the process of closing the Today Spending Account and refunding the account balance.

    • Our Liability for Failure to Complete Transactions

If we do not properly complete a transaction between your Tomorrow Savings Account with Zyng and your Today Spending Account on time or in the correct amount according to our Agreement with you; we will be liable for your actual 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 funds available in your Tomorrow Savings Account with Zyng to complete the Online Transfer;
      2. If access to your Tomorrow Savings Account with Zyng or Today Spending Account has been blocked after you reported your ZYNLO Visa Debit Card or Today Spending Account or Tomorrow Savings Account with Zyng number lost or stolen;
      3. If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
      4. If we have reason to believe the requested transaction is unauthorized;
      5. If circumstances beyond our control (such as fire, flood, or computer communication failure) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
      6. Any other exceptions stated in our Agreement with you.
  • Confidentiality

We may disclose information to third parties about your Tomorrow Savings Account with Zyng or the transactions you make:

      1. Where it is necessary for completing transactions;
      2. In order to verify the existence and condition of your Tomorrow Savings Account with Zyng for a third party;
      3. In order to comply with a government agency, court order, or other legal or administrative reporting requirements;
      4. If you consent by giving us your written permission;
      5. To our employees, auditors, affiliates, service providers, or attorneys as needed; or
      6. Otherwise as necessary to fulfill our obligations under this Agreement.
  • Information About Your Right to Dispute Errors

If you believe your Tomorrow Savings Account with Zyng number has been lost, stolen, or compromised in any way, or someone has transferred or may transfer money from your Tomorrow Savings Account with Zyng without your permission, contact us immediately by calling us at 844-ZYNLOBA or 844-996-5622, sending us an email at support@zynlobank.com, or by writing to us at ZYNLO, P.O. Box 279, Powell, OH 43065. While the nature and frequency of transactions into and out of your Tomorrow Savings Account with Zyng are described in this Tomorrow Savings Account with Zyng Agreement, please see “Section II ELECTRONIC FUNDS TRANSFER DISCLOSURE AND SPECIAL TERMS AND CONDITIONS,” of the Deposit Account Agreement where your liability for unauthorized transfers from the Today Spending Account is explained.

    • English Language Controls

The meaning of the terms, conditions and representations herein are subject to the definitions and interpretations in the English language. Any translation of this Agreement may not accurately represent the information in the original English.

    • Customer Service

For customer service or additional information regarding your Tomorrow Savings Account with Zyng, please contact us at:

ZYNLO
support@zynlobank.com
P.O. Box 279
Powell, OH 43065
844-ZYNLOBA or 844-996-5622

Customer Service agents are available to answer your calls 24/7/356.

    • Telephone Monitoring/Recording

Telephone calls between you and us are recorded for Quality Assurance purposes.

    • Arbitration

This Agreement shall be governed by and construed in accordance with the laws of the State of Massachusetts.  The state and federal courts located in Holyoke, Massachusetts shall be the exclusive venue for, and have exclusive venue jurisdiction over, the parties hereto with respect to any matter arising out of or relating to this Agreement, and the parties hereby submit to such courts’ jurisdiction over the parties with respect to any matter arising out of or relating to this Agreement. Each party hereby irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the jurisdiction and laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.  The prevailing party in any such action shall be entitled to recover reasonable attorney’s fees and costs incurred therein. No part of this Agreement shall be construed against a party because that part or any part was drafted or revised by or on behalf of such party.  The parties expressly disclaim the application of the United Nations Convention on the International Sale of Goods to this Agreement and the Uniform Information Computer Transactions Act, as they may be adopted by the State of Massachusetts. 

This Agreement is effective December 1, 2019

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