Honey Pay Application Terms and Conditions

Last updated January 8, 2020

Please read these Application Terms and Conditions carefully and print or save a copy for future reference.

In these Honey Pay Application Terms and Conditions (“Application Terms and Conditions”), the words “you” and “your” mean any person applying for a loan made by Evolve Bank & Trust through the Honey Pay platform (“Loan”). The words “we,” “us,” and “our” mean Honey Science LLC, Synapse Financial Technologies, Inc. (“Synapse”), Evolve Bank & Trust (a bank partner of Synapse), and their corporate affiliates, representatives, successors and assigns, and designated agents and service providers.

1. Telephone Communications.

You expressly consent 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 regarding your Loan and your Loan application, at any telephone number you provide to us, now and in the future, including cellular telephone numbers. Standard communication rates, fees, and charges from your telephone service provider may apply. You agree that we may monitor and record any communications between you and us for quality control and other permitted business purposes. You agree to notify us if any telephone number associated with your Loan or Loan application changes or is reassigned to a new subscriber. You certify that you are authorized to provide this consent because you are either the subscriber of the telephone number or a non-subscriber customary user with authority to provide this consent.

2. Information for Members of the Armed Forces and their Dependents.

If you are a member of the armed forces, or a dependent of a member of the armed forces, you may call (888) 719-6693 toll-free to hear information on the federal protections provided to you, as well as certain payment-related information.

3. Disbursement of Loan Proceeds.

You understand and agree that, if you obtain a Loan, the Loan proceeds shall be used solely in connection with your purchase of goods and/or services from a third-party merchant that you have identified and selected (“Merchant”). The Loan proceeds will be disbursed to the Merchant via a one-time use virtual debit card (“Card”) issued to you for the sole purpose of providing the Card information to the Merchant through the Merchant’s online storefront. The Card will be cancelled after the settlement of the transaction. We have the right to reject the transaction and the Loan if you use or attempt to use the Card for any other purpose.

4. Loan Repayment.

a. Initial Loan Payment.

In order to obtain a Loan, you will be required to make your initial Loan payment immediately after your Loan proceeds are disbursed. Your initial Loan payment must be made via (1) an Automated Clearing House (“ACH”) charge to a deposit account that you designate or (2) a charge to a debit card that you designate. Any deposit account or debit card that you designate must be held in your name. You understand and agree that you will be required to authorize this initial Loan payment, and to designate the appropriate deposit account or debit card to be charged, prior to submitting your application for a Loan.

b. Subsequent Loan Payments.

All Loan payments other than your initial Loan payment may be made via (1) check, (2) an ACH charge to a deposit account that you designate, or (3) a charge to a debit card that you designate. Any deposit account or debit card that you designate must be held in your name. You have the option to preauthorize recurring charges to your designated deposit account or debit card by enabling an “Autopay” option as part of the Loan application process or via an online dashboard that will be made available to you if you obtain a Loan. You understand and agree that you are not required to enable an “Autopay” option as a condition of obtaining a Loan.

5. No Endorsement, Warranty, or Liability.

You understand and agree that the Merchant is not our affiliate, and that you are responsible for identifying, selecting, and transacting with the Merchant, and for obtaining any returns, refunds, or exchanges of goods or services provided by the Merchant. We do not endorse any merchant, retailer, seller, reseller, manufacturer, third-party product, or third-party service, or in any way warrant any third-party product or third-party service. The amount and type of any returns, refunds, or exchanges of goods or services is determined by the Merchant, not by us. We make no representations and have no responsibility regarding any third-party product or third-party service, including the quality, safety, or performance thereof, or any compliance thereof with any applicable laws, regulations, codes, standards, or requirements. You agree that we will not be in any way liable for any damages (including but not limited to incidental or consequential damages) that may result from any third-party product or third-party service.

6. Terms of Use.

The Honey Pay platform is provided by Honey Science LLC (“Honey”). Your access and use of the Honey Pay platform is subject to these Application Terms and Conditions, along with the Honey Terms of Use available at www.joinhoney.com/terms (“Honey Terms of Use”). For avoidance of doubt, the Honey Pay platform will be considered a “Service” under the Honey Terms of Use. Please note that the Honey Terms of Use contain (1) an arbitration provision; (2) a waiver of rights to bring a class action against Honey; and (3) a release by you of all claims for damage against Honey that may arise out of your use of a Service. By using the Honey Pay platform, you agree that these arbitration and dispute resolution provisions will apply to any disputes between you and Honey regarding the Honey Pay platform. If you obtain a Loan, it will be subject to one or more separate agreements between you and Evolve Bank & Trust. This Section 6, and the Honey Terms of Use, do not cover any Loan, unless otherwise stated herein.

By using the Honey Pay platform, you agree to be bound by this Section 6 and the Honey Terms of Use. You may not use the Honey Pay platform and you may not accept the terms of this Section 6 if you are not of a legal age to form a binding contract with Honey. If you accept the terms of this Section 6, you represent that you have the capacity to be bound by it. If you do not agree to the terms of this Section 6, do not use the Honey Pay platform.

7. Electronic Fund Transfers.

a. Electronic Fund Transfer Disclosure Statement.

The following disclosures are made in accordance with the federal law regarding electronic payments, deposits, transfers of funds, and other electronic transfers to and from your account(s). There may be limitations on account activity that restrict your ability to make electronic fund transfers. Any such limits are disclosed in the appropriate agreements governing your account.

i. Definitions.

  • Electronic Fund Transfer: Any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic device or computer to instruct us to debit or credit an account. Electronic Fund Transfers include such electronic transactions as direct deposits or withdrawals of funds, transfers initiated via telephone, website, or mobile application.
  • Preauthorized Electronic Fund Transfer: An Electronic Fund Transfer that you have authorized in advance to recur at substantially regular intervals; for example, direct deposits into or withdrawal of funds out of your account.

ii. Your Liability.

  • Authorized Transfers: You are liable for all Electronic Fund Transfers that you authorize, whether directly or indirectly.
  • Unauthorized Transfers: Tell us at once if you believe your account or account PIN or account access information is lost or stolen or has been or may be subject to unauthorized Electronic Fund Transfers. If your account or account PIN or account access information is lost or stolen or has been or may be subject to unauthorized Electronic Fund Transfers, you could lose all the money in your account(s). Support message us immediately by sending us a message to honeypaysupport@joinhoney.com to keep your possible losses to a minimum. If you tell us within two (2) business days after learning of the loss or theft of your account access device, or after learning of any other unauthorized transfers from your account involving your account access device, you can lose no more than $50 if Electronic Fund Transfers are made without your permission. For these transactions, if you DO NOT tell us within two (2) business days after learning of the loss, theft or unauthorized use, and we can establish that we could have prevented the unauthorized transfer(s) if you had told us in time, you could lose as much as $500. Also, if your periodic account statement shows unauthorized transfers and you DO NOT tell us within sixty (60) days after the statement was delivered to you, you may not get back any money you lose after the sixty (60) day period if we can prove that we could have prevented the unauthorized transfer(s) if you had told us in time. If an extenuating circumstance (such as extended travel or hospitalization) prevents you from promptly notifying us of a suspected lost or stolen access device or of any other suspected unauthorized transfer(s), the time periods specified in this Section 7(a)(ii) may be extended for a reasonable period.

b. Verification of Your Banking Data.

i. Provide Accurate Information.

  • You agree to provide true, accurate, current and complete information about yourself and your accounts maintained at other websites, including financial institutions. You will not misrepresent your identity or your account information.
  • You represent that you have all the rights to provide and license such information, as described below. You agree to keep your account information up to date.
  • If you do not provide timely or accurate information, we may deem the application incomplete. Furthermore, we may terminate consideration of your application at any time in our sole discretion.

ii. License.

  • You are licensing to us any information, data, passwords, materials or other content you provide through the Honey Pay platform to access, use and store.
  • We may access, use and store this information exclusively for the purposes of providing the Honey Pay platform to you.
  • You may revoke this license at any time by emailing honeypaysupport@joinhoney.com.

iii. Third-Party Accounts.

  • You authorize us to access third-party sites designated by you, on your behalf, to retrieve information requested by you, and to register for accounts/request loans that you select.
  • You authorize us to access third-party internet sites, servers or documents, retrieve information, and use your information exclusively for the purposes of providing the Honey Pay platform to you.
  • You understand that we may access your third-party accounts any time and obtain access to the information in such third-party accounts at any time while you have an account with Honey as necessary to operate the Honey Pay platform.

c. Error Resolution.

i. Errors or Questions about Transactions.

Please contact us by emailing us at honeypaysupport@joinhoney.com (1) if you believe a transaction receipt or a statement is wrong, or (2) if you need more information about a transaction on the receipt or statement. For consumer accounts, we must hear from you no later than sixty (60) days after we sent you the first statement on which the error or problem appeared. For business accounts, we must hear from you within one (1) business day of us sending you a receipt. Your inquiry must include: (x) your name, email associated with your account, and your account number (if available); (y) a description of the error or the transaction you are unsure about, and a clear explanation of why you believe there is an error or why you need more information; and (z) the dollar amount of the suspected error. If you tell us orally, we may require that you send us your inquiry via email within ten (10) business days.

ii. Time Periods.

A. Ten-Day Time Period.

We will investigate promptly and, except as otherwise provided in this paragraph, shall determine whether an error occurred within 10 business days of receiving a notice of error. We will report the results to the consumer in writing within three business days after completing its investigation. We will correct the error within one business day after determining that an error occurred.

B. Forty Five-Day Time Period.

If we are unable to complete its investigation within 10 business days, we may take up to 45 days from receipt of a notice of error to investigate and determine whether an error occurred, provided that we do the following:

  • Provisionally credit the consumer's account in the amount of the alleged error (including interest where applicable) within 10 business days of receiving the error notice. We need not provisionally credit the consumer's account if:
  • We do not receive written confirmation within 10 business days of an oral notice of error; or
  • The alleged error involves an account that is subject to Regulation T (Securities Credit by Brokers and Dealers, 12 CFR part 220);
  • Inform the consumer, within two business days after the provisional crediting, of the amount and date of the provisional crediting and gives the consumer full use of the funds during the investigation;
  • Correct the error, if any, within one business day after determining that an error occurred; and
  • Report the results to the consumer within three business days after completing our investigation (including, if applicable, notice that a provisional credit has been made final).

C. Extension of Time Periods.

The time periods described above may be extended as follows:

  • Extension of Ten-Day Time Period - The time limit for resolution is extended to 20 business days in place of 10 business days if the notice of error involves an electronic fund transfer to or from the account within 30 days after the first deposit to the account was made; or
  • Extension of Forty Five-Day Time Period - The time limit for resolution is extended to 90 days in place of 45 days for completing an investigation, if a notice of error involves an electronic fund transfer that occurred within 30 days after the first deposit to the account was made.

8. Inquiries.

Synapse provides backend software services for Honey Pay. To submit a complaint or inquiry related to these services, you may email honeypaysupport@joinhoney.com or help@synapsefi.com.

9. Consent.

By clicking any button displayed in any of our web-based platforms, browser extensions, or mobile applications in connection with acknowledging and/or agreeing to these Application Terms and Conditions (or by otherwise taking an affirmative action indicating your agreement to these Application Terms and Conditions, or by submitting an application for a Loan), you agree that:

  • You have received, read, and agree to all of the terms of these Application Terms and Conditions; and
  • You certify that all of the information you provide with your application is true, accurate, and complete, and you understand that such information will be relied upon in order to make a decision about your request for a Loan.