Ahead Overdraft Terms and Conditions

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

As a condition of using the Ahead Overdraft, you acknowledge that additional agreements that govern your Ahead Deposit Account (the “Account”) and your relationship with Bank and Program Manager, including but not limited to, the Deposit Account Agreement, Ahead Financials, LLC Privacy Policy, The Bancorp Bank Privacy Notice, and Agreement to Receive Electronic Communications (collectively, “Related Agreements”), are incorporated by reference and continue to apply in full force and effect. To the extent there is a discrepancy between a Related Agreement and these Terms, these Terms shall govern only with respect to use of the Ahead Overdraft. You further agree that certain provisions found in the Related Agreements regarding any claim, dispute, or controversy against us arising out of or relating in any way to the Ahead Overdraft may apply, including but not limited to: (i) arbitration; (ii) error resolution; (iii) limitation of liability; or (iv) confidentiality and data rights.

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:

  • Transactions at ATMs, including but not limited to cash withdrawals and balance inquiries;
  • Over the Counter ("OTC") cash withdrawals;
  • Transfers from the Ahead Visa® Debit Card via external Peer to Peer (P2P) transfer services, including, but not limited to, PayPal, Venmo, Cash App, Zelle, and Apple Pay Cash or similar services;
  • ACH Debits from merchants, utility service providers and other financial institutions; or
  • ACH Transfers from your Account to another bank account you own made using the App.

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.

3.Qualifications

In order to qualify and enroll in the Ahead Overdraft, you must fulfill certain basic requirements, including:

  • Be 18 years of age or older;
  • Have an Ahead Account in your name in good standing;
  • Have downloaded the app from either the app store or google play store; and
  • Have received Qualifying Direct Deposits of $1,000.00 or more into your Account over the preceding 35-calendar-day period.

    A “Qualifying Direct Deposit” is a direct deposit from your employer, payroll provider, or government payer made by Automated Clearing House (ACH) deposit. Qualifying Direct Deposits do not include, without limitation, Bank ACH transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash deposits, one-time direct deposits, such as tax refunds and other similar transactions.

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  support@aheadmoney.com 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.

11.General Provisions

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

© 2021 Ahead Financials, LLC. All Rights Reserved.
1750 Broadway, Suite 300, Oakland, CA 94612

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Banking Services provided by The Bancorp Bank, Member FDIC.
The Ahead Visa® Debit Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.