These Ahead Overdraft Terms and Conditions (“Terms”) govern the Ahead No-Fee Overdraft product (“Ahead Overdraft”) made available by The Bancorp Bank, a Delaware state-chartered bank, (“Bank”) in association with Ahead Financials, LLC (“Ahead” or “Program Manager”), the entity providing certain services for sponsoring and/or managing the Ahead Overdraft on our behalf. By enrolling in the Ahead Overdraft, you agree to be bound to these Terms. As used in these Terms, “We,” “Us,” and “Our” shall mean, as the context requires, both Bank and Program Manager. For any questions regarding these Terms or use of the Ahead Overdraft, you may contact us at calling us at 833-33-AHEAD (833-332-4323) or through the aheadmoney.com (“Website”) or Ahead the Ahead Overdraft mobile application (the “App”).
1.Association with other Products
2.The Ahead Overdraft
The Ahead Overdraft is an optional, no-fee service that enables you to draw your Account negative by conducting debit card purchase transactions (“Eligible Transactions”). Eligible Transactions do not include:
Additionally, enrolling in the Ahead Overdraft does not require a check of your credit score, and use of the Ahead Overdraft will not affect your credit score.
In order to qualify and enroll in the Ahead Overdraft, you must fulfill certain basic requirements, including:
In addition, we may, at any time and in our sole discretion, determine additional requirements or changes to existing requirements that you must fulfill in order to enroll in the Ahead Overdraft. We may suspend or terminate your use of the Ahead Overdraft if you fail to fulfill any of these qualification requirements before, during, or after enrollment. We may also terminate your access to the Ahead Overdraft if you are in violation of any of the terms of the Related Agreements. Any termination of suspension of your access to the Ahead Overdraft may continue until you cure the disqualification or violation, or we may terminate your access indefinitely. If your enrollment is terminated, we will not approve any further Eligible Transactions until you meet the qualifications and re-enroll in the Ahead Overdraft.
4.Your Ahead Overdraft Limit
Your ability to draw the Account negative is restricted to the amount for which you qualify (the “Limit”), which is determined by us in our sole discretion (see Qualifications above). Your Limit may be adjusted from time to time in our sole discretion. Any changes to your Limit by us will be communicated to you by the email address we have on file. You can find your current Limit at any time by logging into the Website or App. Any attempt to conduct a transaction that would otherwise qualify as an EligibleTransaction will be restricted to the amount of your Limit that is available.
5.Using the Ahead Overdraft
If you use the Ahead Overdraft, your Account balance will remain negative until the balance is brought to a positive or $0 balance through any deposit. By agreeing to these Terms, you authorize us to apply any deposit to your Account to cure any negative balance. Each time you conduct an Eligible Transaction, you will receive notice that we approved the transaction, including the amount the Ahead Overdraft has covered and the updated balance in your Ahead Deposit Account.We do not charge any interest or fees for using the Ahead Overdraft.
If a negative balance is not repaid within 60 calendar days of the first Eligible Transaction that caused the negative balance, we may suspend your Account and terminate your access to the Ahead Overdraft. If your negative balance remains for 120 calendar days, your Account and any associated products may be closed permanently.
6.Our Rights to Repayment
You represent and warrant that you authorize us to claim funds due to us (to cure any negative balance) under these Terms. Ifwe are unable to cure the negative balance from your Account, you may be prohibited from obtaining another product from us. We will not place the amount advanced as a debt with or sell it to a third party or report any failure to repay to a consumer reporting agency if the advance is not repaid on the scheduled date.
For avoidance of doubt, failure to repay a negative balance will not affect your credit. Neither Bank nor Program Manager will furnish information about you to credit reporting agencies. However, in the event of fraud, misrepresentation, or other illegal activity, we will use additional legal options available to us in order to collect the money you owe us.
7.Modification of Terms
We may, from time to time, modify these Terms. Such modifications shall be effective as soon as the modified version of the Terms are posted on the App or Website, or any other authorized distribution location. We will send you Notification of any modification of these Terms in accordance with applicable law. Your continued use of the Ahead Overdraft following such changes constitutes your acceptance of the revised Terms.
8.Cancellation of the Ahead Overdraft
You may cancel your use of Ahead Overdraft at any time. To do so, you may turn “off” the Ahead Overdraft on your App settings page. If you cancel your use of the Ahead Overdraft, we will not approve Eligible Transactions, but we may continue to exercise our rights to cure any negative balance. If you continue to meet the eligibility criteria, you may re-enroll at any time.
We may terminate these Terms or suspend or terminate your use of the Ahead Overdraft for any reason at any time upon notice required by applicable law. This may happen if we find out you are violating these Terms or the terms of any Related Agreement. We will inform you of our decision via in-app notification, and you can always communicate with our support team by emailing firstname.lastname@example.org or calling 833-33-AHEAD (833-332-4323) if you have questions. You agree that the Bank and Program Manager are not be liable to you or any third-party for any costs, fees, or losses associated with the termination of your access to the Ahead Overdraft, including but not limited to, inability to complete a purchase, insufficient funds fees, late fees, legal fees, third party charges, or any other charge.
9.Disclaimer of Warranties
YOUR USE OF THE AHEAD OVERDRAFT IS SOLELY AT YOUR OWN RISK. THE AHEAD OVERDRAFT IS PROVIDED “AS IS,” “AS AVAILABLE” AND WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES IMPLIED BY ANY COURSE OF PERFORMANCE OR USAGE OF TRADE, ALL OF WHICH ARE EXPRESSLY DISCLAIMED. BANK, PROGRAM MANAGER, AND EACH OF THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES (AND THEIR SUBSIDIARIES, AFFILIATES, OFFICERS, AGENTS, AND EMPLOYEES) DO NOT WARRANT THAT THE AHEAD OVERDRAFT WILL BE AVAILABLE OR MEET THE REQUIREMENTS OF THESE TERMS AT ANY PARTICULAR TIME OR LOCATION, OR THAT THE AHEAD OVERDRAFT AND APP ARE SECURE OR FREE FROM ANY DEFECTS, ERRORS, VIRUSES OR OTHER HARMFUL COMPONENTS.
10.Indemnification and Limitation of Liability
You agree to hold harmless and indemnify Bank and Program Manager employees (and their subsidiaries, affiliates, officers, agents, and employees) from and against any claim, suit or action arising from or in any way related to your use of the Ahead Overdraft, or your violation of these Terms, including any liability or expense arising from all claims, losses, damages, suits, judgments, litigation costs and attorneys’ fees, of every kind and nature. You further indemnify and hold Bank and Program Manager harmless from any claims by any other stakeholder to the funds held in your Account that we may need to cure any negative balance. WE WILL NOT BE LIABLE UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY WITH RESPECT TO THE AHEAD OVERDRAFT FOR ANY FINANCIAL OR DATA LOSS, OR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, COMPENSATORY OR CONSEQUENTIAL DAMAGES OFANY KIND WHATSOEVER.
These Terms represent the entire agreement among you, Bank, and Program Manager with respect to the Ahead Overdraft. They supersede any other communications you have with us regarding the Ahead Overdraft. Any part of these Terms is found to be unenforceable or invalid, only that part will be removed or limited as needed, and the rest of these Terms remain enforceable. All provisions of these Terms which by their nature shall survive termination, including, without limitation, ownership provisions, warranty disclaimers, indemnity and limitations of liability. You cannot assign or transfer any responsibility under these Terms to anyone else, however, we may assign these Terms at any time upon notice required by applicable law. We do not waive our rights by delaying or failing to exercise them at any time.
Last Rev. Date: 05/07/2021