Terms of Use—Digital Banking and Savings

Please read these Terms of Use – Digital Banking and Savings (the “Agreement”) carefully. This is a legal agreement between you and Oportun, Inc. and other subsidiaries and affiliates, which we’ll refer to as “Oportun,” us,” “we,” etc. This Agreement  describes the conditions that apply to your use of the Oportun website, mobile application (the “Application”) and/or any other technology (collectively, the “Services”) to access your Direct Account (“Direct Account” or “Account”) and your Savings account described in Section 5 below. It also covers funds transfers among those accounts and to and from any outside financial institution account that you link to your Direct Account (each, a “Linked Bank Account”).  Oportun is not a bank. “Pathward” means Pathward, National Association, Member FDIC. This Agreement is binding whenever you first use any Services.  

This probably isn’t the only agreement that applies to your relationship with us.  For example, if you sign up for additional features (like Investing/Retirement), you’ll have add-on terms.  You may also enter into agreements with third parties, like our bank partners or vendors.

One important point that we get to later but should talk about up-front: Oportun is not a financial adviser.  We use sophisticated and well-trained robots that make decisions for you based on algorithms, but we can’t anticipate everything.  We can’t promise that the Services will fit every situation. For example, we might study a year of your transactions and predict that you can save $60 this month, or that your electricity bill will be around $88.  But you might impulse-buy a $300 pair of shoes, or leave your A/C on for 3 weeks straight.  We’ve developed features that can help account for many financial situations, but you should customize the Services to suit your needs and check in regularly to make sure they’re being met.  We’re here to help and make life easier, but ultimately you, not us, are responsible for ensuring that your Linked Bank Account or Direct Account have sufficient funds for your needs. 

THIS AGREEMENT ALSO INCLUDES, AMONG OTHER THINGS, A BINDING ARBITRATION PROVISION THAT CONTAINS A CLASS ACTION AND JURY WAIVER. PLEASE READ SECTION 13 BELOW FOR MORE INFORMATION.

Last updated: December, 2022

Your consent to electronic signatures and communications

Let’s knock some easy stuff out first: this is a digital service and we communicate with you digitally ( e.g. , in-app messages, email, SMS, etc.). 

How We’ll Communicate with You.  We may send text messages with things like tips, transactions notifications and account balances. We may also send emails (including promotional emails), and push notifications. You consent to receiving text messages (including autodialed, prerecorded and promotional messages) from us and/or our third-party service providers.  Message frequency varies. Message and data rates may apply. Carriers are not liable for delayed or undelivered messages.

You may ask us not to send further text messages by replying STOP to any message you receive from us.  If you need help, you can reply with the keyword HELP or email us at [email protected] . 

Your Consent. You agree to receive e-mails and other electronic communications from Oportun, Inc., its affiliates, and other third parties that may be providing services to you on behalf of Oportun (“we”, “us” or “our”) about your loan, credit card, savings (sometimes referred to as “Set & Save”), banking/deposit and/or investing products or services (together, “Services”), offered by or through us. The communications may include disclosures, required notices, change in terms updates, periodic statements, account records and other communications, as applicable for the specific Services and/or accounts (collectively, “Communications”). This includes anything we’d otherwise be required to give to you in paper form (e.g. by mail). You may not be able to obtain Services from us unless you agree to this Consent.

Your Representations. You agree that: (1) you’ve read and understand this Disclosure and Consent; (2) you satisfy the minimum hardware and software requirements below; and (3) your consent will remain in effect until you withdraw it (see below).

Your Right to Withdraw Your Consent. You may withdraw your consent to receive further Communications regarding our savings, banking/deposit, and investing products and services (”Deposit Communications”) electronically at any time by contacting us at [email protected] . If you withdraw your consent to receive Deposit Communications electronically, we will close your savings, banking/deposit, and investing account, including any accounts held in your name at our bank partners, and return any balance in these accounts to your linked bank account or via check mailed to your address on file with us. Any withdrawal of your consent to receive Deposit Communications electronically will be effective only after we have a reasonable period of time to process your withdrawal.

Please note that withdrawal of your consent to receive Communications electronically will not apply to Communications electronically provided by us to you before the withdrawal of your consent becomes effective.

You Must Keep Your Contact Information Current. You agree to notify us if your email address changes by emailing [email protected]  for Lending Disclosures and [email protected]  for Deposit Communications.

Copies of Communications. You should print and save and/or electronically store a copy of all Communications that we provide to you electronically. You can access these E-Sign Act Disclosures at www.oportun.com

Hardware and Software Requirements. To access and keep electronic Communications, you must have: (1) a valid email address; (2) a connection to the Internet; (3) a Current Version of Internet Explorer, Mozilla Firefox, Safari, or Chrome; (4) a Current Version of a program that accurately reads and displays PDF files, such as Adobe Acrobat Reader version 7 or higher; (5) a computer or device and an operating system capable of supporting all of the above; and (6) a printer to print out and save Communications in paper form or electronic storage to retain Communications in an electronic form. “Current Version” means a version of the software that is currently being supported by its publisher.

Changes. We can switch to communicating with you in paper form (and stop communicating electronically) when we deem it necessary and can also change these terms and conditions.

Conditions to using our services

Eligibility. You must be 18 or older and a resident of the United States. By signing up, you agree that you: (i) are at least 18; (ii) haven’t been suspended or removed from the Services; (iii) are a resident of the United States; (iv) aren’t violating any laws by registering and using the Services, (v) will keep in your Direct Account profile a valid phone number and email address that you’re authorized to use.

Account Limitations. You can only have one personal Direct Account and can only use the Services for personal (and non-commercial) purposes.  If you don’t agree, you can’t use the Services. 

Tax Stuff. Under penalty of perjury, you certify that: (a) the Social Security Number that you provided to us is your correct taxpayer identification number (TIN), and (b) you are a U.S. citizen or other U.S. person, and (c) you are not subject to backup withholding because you are (i) exempt from backup withholding, or (ii) you have not been notified by the Internal Revenue Service (IRS) that you are subject to backup withholding as a result of a failure to report all interest or dividends, or (iii) the IRS has notified you that you are no longer subject to backup withholding.

If you are subject to backup withholding (if you were notified by the IRS that you are subject to backup withholding as a result of a failure to report all interest or dividends and have not been notified by the IRS that you are no longer subject to backup withholding) please contact us immediately at [email protected] . 

Your subscription fee

Oportun provides a subscription service for digital banking and savings.  The terms of the subscription fee are disclosed in our Billing Agreement (“Billing Agreement”). If there is conflict between any term in this Agreement and the Billing Agreement, the Billing Agreement applies.

Changes to terms

Changes to Services and Agreement. We may change or terminate the Services, change this Agreement, or turn off functionality at any time. 

Notification of Changes. When we make changes to this Agreement, we’ll post the updated version on our website and make it available through the Application. We may also notify you via email.  Please check this Agreement periodically for changes.

You Agree to Changes. If you don’t want to accept this Agreement or any changes to it, you should stop using the Services and terminate your Direct Account. Using the Services means you accepted the version of the Agreement in effect at the time.

Disputes. Disputes about this Agreement will be resolved according to the version in effect at the time the dispute arose. 

How your accounts work

Partnership with Pathward. Oportun partners with Pathward to offer deposit accounts. Your Spending and Bills accounts are subject to a separate agreement called Direct by Pathward Demand Deposit Account Agreement (“DDA”), and your Savings account is subject to Oportun Savings Account Terms (“Savings Account Terms”) included below and you must agree to before you finish signing up.  The DDA governs your use of the Spending account and Bills account ( e.g. , your relationship with Pathward, account transaction limits, your liability for unauthorized transactions, and how to tell us if you spot an error).  If there is conflict between this Agreement and the DDA, the DDA controls. Likewise,   if there is conflict between this Agreement and the Savings Account Terms, the Savings Account Terms control.

Account Structure and Ownership. When you sign up for a Direct Account, we’ll open Spending , Bills  and Savings  accounts for you at Pathward. The Spending account and Bills account are deposit accounts in your name at Pathward and are subject to the terms of the DDA. The Savings account is a corporate account at Pathward in Digit’s name for the benefit of (“FBO”) you and other Direct Account holders, subject to this Agreement.

You’ll Receive Two Debit Cards. Pathward will issue you separate Spending and Bills debit cards, so that we can help you track that spending and keep it separate.  These cards are governed by the DDA.  

• Spending Debit Card. You’ll receive a physical card, plus you can see the card number in the Application. You can use the card number immediately (see the DDA for more details). In most cases, you’ll receive the physical card in the mail within ten (10) business days after opening your Direct Account. The Spending  debit card will draw on available funds in your Spending  account and can be used the same way you would use any other Visa® debit card to make purchases or ATM withdrawals.
• Bills Virtual Debit Card. This is issued only as a “virtual” card (a card number, but no plastic card) and usable immediately. This Bills  debit card draws only from available funds in your Bills  account and you should use it for one-time and recurring bills. You can use the virtual Bills  card to set up payments online with your billers but you will not receive a physical card to use for in-person merchant transactions.

Checks. You can send checks using the Application.  They’re mailed out using the US Postal Service.  We won’t send you a checkbook.   

Rewards; Interest: Oportun may earn compensation in the form of commission on members’ funds deposited with Pathward. You may get rewards ( e.g. , contests, prizes, referral bonuses, etc.) for being a Oportun member or doing certain things ( e.g. , shopping at certain stores) but you will not earn or be paid interest, dividends, or earnings on the funds deposited in your Direct Account or in your Savings account. 

Additional Savings Account terms

FBO Account. The Savings account is an FBO (“for benefit of”) account. This means that the account is titled in our name, but we hold it as a custodian for the benefit of our members.  All the money that is set aside for Savings for our members with Direct Accounts is pooled into this account at our partner bank (currently it’s Pathward, but we may use other banks in the future).  We partner with FDIC-insured banks, so your money in the FBO account is FDIC-insured against failure of the bank, subject to applicable FDIC insurance limitations. The Savings product is sometimes referred to as “Set & Save”.

Money Movement and Limitations. The only way for you to add money to the Savings account (and each savings goal) is to transfer it from your Spending account. Similarly, to withdraw or spend money from the Savings account, you’ll first need to move it back to your Spending account. You can do this at any time through the “transfer” feature in the Application, there are no limits on amount and frequency of transfers that you can make to and from your Savings account. We will also be transferring money to your Savings account to help you save towards your goals and, sometimes, back to Spending and/or Bills to make sure you have enough to cover those activities too. Transfers between these accounts are real-time so you won’t need to wait to access your money and you can’t stop the transfer once it has been initiated. You can check your balances in the app or call us at 866-630-2506 to determine if a specific preauthorized transfer to or from your Savings account has occurred.

Unauthorized Transfers. If you believe that an unauthorized electronic funds transfer has been made or may be made to or from your Savings account, please email us at [email protected]  or call us at 866-630-2506. Our business days are Monday through Friday except federal holidays.  

Confidentiality. We may disclose information to third parties about your Savings account or the transactions you make if:

• it is necessary for completing transactions;
• to verify the existence and condition of your Account for a third party;
• to comply with government agency or court orders, or other legal reporting requirements;
• if you give us your written permission;
• to our employees, auditors, affiliates, service providers, or attorneys as needed; and,
• as otherwise may be necessary to fulfill our obligations under these terms.

Our Liability for Failure to Complete Transactions. If we don’t complete a transaction to or from your Savings account on time or in the correct amount according to these terms, we will be liable for your losses and damages.  But there are some exceptions.  We will not be liable is, for instance, one of the following happens:

• through no fault of ours, you don’t have enough money available in your Savings account to complete the transaction;
• access to your Savings account has been blocked after you reported an unauthorized transaction;  
• there is a hold or your funds are subject to legal process or other encumbrance restricting their use;
• we have reason to believe that the requested transaction is unauthorized;
• circumstances beyond our control (like fire, flood or computer or communication failure) prevent us from completing the transaction, despite reasonable precautions that we have taken; and,
• For any other exception listed within this Agreement.

Error Resolution. In case of Errors or Questions About Your Electronic Transfers call us at 866-630-2506 or email us at [email protected] as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.

(1) Tell us your name and account number (if any).

(2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.

(3) Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign- initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Statements. You have a right to receive a periodic statement for your Direct Account and Savings account activity will be included in the same statement. We’ll issue account statements monthly, but if you don’t have any electronic funds transfers, we may issue only quarterly account statements instead.

Getting money into and out of your Direct Account

Moving Money into Your Direct Account. To make all these cool features work, you’ll need to get money into the Direct Account.  You can: (i) set up direct deposit with your employer to have your paycheck deposited into Your Direct Account ; (ii) authorize Oportun to initiate recurring ACH transfers from a Linked Bank Account (“ Smart Deposits ”); and/or (iii) initiate a manual ACH transfer from a Linked Bank Account  or any other bank account (including service providers like Venmo) to your Direct Account at any time. Transfers via ACH may take up to 5 business days.  NACHA rules apply to all ACH transfers (you’ll be able to read more about that when you’re initiating a transfer). Also check the DDA for limitations ( e.g. , amount, frequency) on transfers.

Linking Bank Accounts. By linking your external account, you give us access to your financial records at that institution ( e.g. , identity information and transactions). Our access to the Linked Bank Account and use of that data is governed by the Linked Bank Account Access Authorization (“Access Authorization”) that is automatically incorporated here.  If there is conflict between this Agreement and the Access Authorization, the Access Authorization controls. 

Early Direct Deposit. With your Direct Account, your direct deposit may be available up to two days before its scheduled effective date. There are no requirements to be eligible, but availability is not guaranteed ( e.g. , we need to receive information about the upcoming deposit from your payroll provider before the effective date for it to work).  If your funds are made available early but are never actually received, your Direct Account and your Linked Bank Account may be debited up to the deposit amount even if it would overdraw or result in a negative balance on your accounts or cause transactions to be declined.  You’ll remain liable for any outstanding balance until it’s paid in full or its collectability is limited by law.

Transfer Among Accounts. You can transfer money among your Bills , Spending  and Savings  accounts through the “transfer” feature in the Application.

Transfer to Linked Bank Account. You can also transfer money from your Spending account to your external Linked Bank Account .  Transfers via the ACH system may take up to 5 business days to arrive.  Also check the DDA for additional limitations ( e.g. , amount, frequency)   on transfers. 

Understanding your balances

You must maintain enough available funds in your Spending  and Bills  accounts (they’re separate)   to cover transactions and associated fees.  Any transaction that exceeds your available balance in the Bills  or Spending  account will be declined at the time of attempted posting or authorization, but it may sometimes bring your Account balance negative as described in the DDA.   If your Direct Account has a negative balance, any deposits will be used to offset the negative balance, and to the extent permitted by applicable law, any balance in your Bills or Spending account may be used to offset the negative balance.  You authorize us to move funds among your Spending, Bills and Savings accounts to cover any negative balances in your Direct Account.  

Available Funds. When we have information about pending or upcoming transactions ( e.g. , your scheduled bill payments) we calculate your overall available funds and allocate them among your Bills , Spending  and Savings accounts. But we do not always have information about every type of a pending or upcoming transaction that you’ve made.  You should check your balances before making a purchase with your Spending  debit card or paying a bill with your Bills  virtual debit card. You can always move funds between accounts to ensure you can cover your transactions.

How our algorithms work (and how you’re not completely predictable)

Our Services are designed to help you save, pay your bills, invest and set aside money for spending with minimal effort.  In 2014, we began working on an algorithm that automatically analyzes financial spending patterns, savings goals, income predictions, and upcoming bills, and creates a financial outlook that can be used to make savings decisions. Since then, we’ve been feeding it more data (hundreds of millions of transactions) and continuing to improve it. 

User Controls. You can customize your Oportun experience and how the algorithm works for you.  Like:

1. Minimum Spending Level: You can set the minimum amount that you want to have available for spending.  If you set this at $300, this means that we will prioritize ensuring $300 is in your Spending  account (even if it means you’ll miss a bill payment — use wisely!).
   
2. Pause Saving: You can help us prioritize between your goals by pausing saving for longer-term goals or goals that are not your priority. You can use “Pause Saving” and “Resume Saving” for a goal any time you want and we will adjust the algorithm based on your selection.
   
3. Move Money: You can always manually move cash between your Spending , Savings , and Bills  accounts to account for your situation.  ( See Section 6, above. ) 

No Guarantee. We put a ton of work into the algorithm, and hope it works great for you.  But it’s a computer program, not a psychic.  You may impulse-buy a new pair of shoes, or need money for a down payment on a house that we could never see coming, or maybe you pay your rent in cash every month and we don’t recognize it as a bill.  You should customize Oportun to your specific situation (see above), and monitor how it’s working for you.  We’re here to help and make life easier, but ultimately you, not Oportun, are responsible for ensuring that your Linked Bank Account and Direct Account have sufficient funds for your needs, purposes, or transactions.

Smart Deposit. When you connect a Linked Bank Account as part of opening your Direct Account, we’ll automatically turn on our Smart Deposit feature. This feature intelligently moves money from your external Linked Bank Account into your Direct Account to help you start saving towards bills and goals and give you some spending money to use with your Spending debit card. The algorithm calculates a suggested amount every week and then moves it into your Direct Account, from where it gets allocated among your Bills , Saving , Spending , and (optionally) Investing / Retirement  accounts.  Don’t worry — we’ll notify you (check the Application) the day before the scheduled transfer so you know when and how much. You can also use the Application to skip any transfer (as long as it’s before it begins processing) or turn off the   Smart Deposit feature altogether.

While this feature is pretty smart, it’s important to know that you’re the only one who can know if the suggested amount is the right amount to move to your Direct Account. If you don’t skip transfers and don’t turn off Smart Deposit, your Linked Bank Account may sometimes become overdrawn because of transactions that follow the initiation of the transfer.  (Also keep in mind it’s an ACH transfer so it may take up to 5 business days to fully process.)  We’re not responsible for any declined transactions, late payments, negative credit reporting or third-party fees that may be incurred as a result.  We may have an Overdraft Reimbursement Policy to cover some of the overdraft fees if they’re caused by us.

How you access your accounts, and a few limitations

Credentials. Don’t share your username or password.  It’s up to you to keep them and your devices safe.  Except as otherwise required by law, you’re responsible for all transactions and other activities authorized or performed using your credentials and/or mobile device, whether authorized or unauthorized by you.

Unauthorized Account Access and Disclaimer of Our Liability If you suspect unauthorized account activity or access to your username, password, device, or accounts, contact us immediately at [email protected].  

Agents and Power of Attorney. You can’t add users to your Direct Account, but you can submit a valid Power of Attorney to allow your agent to access your account.  They will have access to your private financial information and will be acting on your behalf ( e.g. , transactions). You agree that we have no duty to ensure the agent acts for your benefit. We may not be able to, and aren’t required to, implement all restrictions to the agent’s access that you outline in the Power of Attorney. We may continue to honor the agent’s transactions until: (a) we receive written notice that you terminated their authority, and (b) we’ve had a reasonable opportunity to act on it. You agree not to hold us responsible for any loss or damage you may incur as a result of our following instructions given by an agent acting under a valid Power of Attorney.

Oportun accounts are non-transferrable, which means if the account owner dies, the funds in your Oportun accounts will be distributed by law but no other person or entity will become an owner or authorized user of that account.

Fraud and Unusual Activity. We monitor transactions and accounts for things like fraud and unusual activity.  These controls can impact your ability to access and transact.  For example, if your payroll provider lists a different name for you than what we have on file, we may delay or be unable to process your direct deposit.   We may need to apply these access restrictions immediately and may be prohibited from notifying you to ensure security or comply with legal process.

Unauthorized Account Access. To protect your information, accounts and funds, we may suspend access to your accounts if we believe your accounts have been accessed without your authorization or if you dispute a transaction. 

Inactive Login. If you do not use your account for an extended period of time, your Oportun log-in may become “inactive.” Your access to your accounts may be temporarily restricted and you’d need to contact us at 866-630-2506 to reactivate.   

Court Orders. We will comply with court orders or directives from federal or state agencies.  See Section 14 for additional information on Legal Process.

How you close your accounts (and when we might)

We may close your accounts at your request or our discretion (some possible reasons are below).  When accounts close, it means that the physical accounts held at Pathward and any Investment or Retirement accounts elsewhere are closed, and your Oportun log-in credentials are disabled. We generally deposit the funds (minus any pending debits or funds restricted by a court or federal or state agency order) to your Linked Bank Account.  If you don’t have one, or we can’t complete the transfer, we’ll mail you a check to the address on record.  In some cases, we may wait for pending transactions to complete prior to closing.  Closing accounts will not affect any of our rights or your obligations that arose under this Agreement or the DDA or Savings Account terms before the account was closed.

You May Close Your Accounts. To close your accounts, contact us at [email protected] .  

Violation of these Terms. If you violate these Terms ( e.g. , opening more than one Direct Account, failing to pay the subscription fee) we may close your accounts. 

Fraud/Illegal Activity. We may close your accounts if we believe you (or someone on your accounts) has been accessing or using the accounts in violation of law or with intent to defraud.

Inactive Accounts. If, for two years, you don’t perform any transactions and we haven’t heard from you, we may close your accounts for inactivity. Automated transactions that we perform or you’ve set up with a biller to perform more than two years ago won’t count as transactions that keep your accounts “active”. But we’ll know that you’re an active member if you sometimes use your Spending or Bills debit card, log into your account or contact our Customer Service.  We’ll try to reach out to you before closing your accounts for inactivity, but it’s your responsibility to make sure that we always have your current email address and phone number on file. We’ll move the money from your Direct Account to your Linked Bank Account, if we close it for inactivity. 

If you do not have any transactions in your Direct Account for a consecutive 12-month period, your log-in may become inactive, and if you do not reactivate it in 90 (ninety) days, we may close your accounts after providing you any required notice.

Escheatment. If you don’t use the Services for a while, the law may require the funds in your Direct Account to be treated as abandoned property (called “escheatment”).  We will try to contact you first, but if we can’t or you don’t respond, any money in your Direct Account may have to be sent to your state. Escheatment rules vary by state, but the time of inactivity usually ranges between two and five years. 

We Receive an Order We Must Comply With. We will comply with any valid and applicable order of a court or other federal or state agency directing us to close your accounts.

Changes in Ownership, Partnerships, Product Offerings or Operations. We may close your accounts if it is required by changes in the company ownership, partnership relationships or product offerings or changes in our operations that would be inconsistent with continued account operation.

Law stuff about intellectual property and user content

Stuff You Won’t Do. You may not modify, reverse engineer, reproduce, resell, license, or otherwise exploit anything on the Services.  You agree not to (and not to allow any third party to): (a) use any robot, spider, scraper, or other automatic or manual process to access the Services; (b) take any action that imposes or may impose (in our sole determination) an unreasonable or a disproportionately large load on our infrastructure; (c) use any device or software to interfere; (d) reverse engineer, decompile, or try to get the source code; (e) use the Services in any way that is illegal, harmful, fraudulent, or otherwise objectionable, as we may determine in our sole discretion; (f) jeopardize the security of any account ( e.g. , letting someone use your login and password); (g) attempt to get another user’s credentials or security info; (h) violate the security of any computer network or crack any passwords or security encryption codes; or (i) run Maillist, Listserv, or any other kind of spam.  We may monitor your use of the Services.

No License. We do not grant you any licenses to our intellectual property or the intellectual property of our licensors, except as expressly stated in this Agreement. We and our third-party licensors retain all right, title, and interest in and to the Services, and any associated intellectual property rights.

User Content. The Services may permit you to submit content (collectively, “User Content”), like customizing parts of the Services ( e.g. , savings goals) and communicating ( e.g. , messaging our Customer Support team).   We take no responsibility and assume no liability for any User Content.

Content Rules. User Content can’t be illegal, harmful, threatening, obscene, fraudulent, pornographic, infringing on intellectual property rights, purposely false or hurt other people.

Limitations on our liability and disclaimers

TO THE FULLEST EXTENT PERMITTED BY LAW, YOU AGREE THAT OPORTUN, AND THEIR EMPLOYEES, OFFICERS, DIRECTORS, AGENTS, AND THIRD-PARTY SERVICE PROVIDERS WILL NOT BE LIABLE TO YOU OR ANY THIRD PARTY FOR

(A) THE PERFORMANCE OF THE SERVICES OR YOUR INABILITY TO USE THE SERVICES;

(B) ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, EVEN IF SUCH PERSONS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHICH ARISE OUT OF OR ARE IN ANY WAY CONNECTED WITH THIS AGREEMENT OR THE SERVICES;

(C) ANY AMOUNT, IN THE AGGREGATE, IN EXCESS OF THE GREATER OF $100 OR THE AMOUNT TRANSFERRED FROM YOUR LINKED BANK ACCOUNT TO YOUR DIRECT ACCOUNT VIA THE SERVICES; OR

(D) ANY EVENT BEYOND OUR REASONABLE CONTROL.

SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES, SO THE ABOVE LIMITATION AND EXCLUSIONS MAY NOT APPLY TO YOU.

Indemnification. At our request, you agree to defend, indemnify, and hold harmless Oportun, Digit, their affiliates, and their respective employees, officers, directors, agents, and third-party service providers from and against any and all claims, suits, liabilities, damages (actual and consequential), losses, fines, penalties, costs, and expenses (including reasonable attorneys’ fees) arising from or in any way related to any third-party claims relating to your use of the Services, violation of this Agreement, applicable law or any third-party rights, or your fraud or willful misconduct. The indemnified parties reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.

Disclaimer and No Warranty. We use sophisticated and well-trained robots that make decisions for you based on algorithms, but we can’t anticipate everything.  We can’t promise that the Services will fit every situation.   Before using the Services, you should consider obtaining additional information and advice from a financial adviser.

TO THE EXTENT PERMITTED BY APPLICABLE LAW AND EXCEPT AS OTHERWISE PROVIDED IN THESE TERMS, YOU AGREE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK. THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY WARRANTY. TO THE EXTENT PERMITTED BY APPLICABLE LAW, WE AND OUR THIRD-PARTY SERVICE PROVIDERS DISCLAIM ANY AND ALL CONDITIONS, REPRESENTATIONS, AND WARRANTIES AS TO THE SERVICES, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

WE AND OUR THIRD-PARTY SERVICE PROVIDERS CANNOT GUARANTEE THAT (A) THE SERVICES WILL MEET YOUR REQUIREMENTS, (B) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (C) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICES WILL BE ACCURATE OR RELIABLE FOR EVERY SITUATION, (D) THE QUALITY THE SERVICES WILL MEET YOUR EXPECTATIONS, OR (E) ANY ERRORS IN THE SERVICES WILL BE CORRECTED. NO ORAL OR WRITTEN INFORMATION OR ADVICE OBTAINED BY YOU FROM US OR OUR THIRD-PARTY SERVICE PROVIDERS THROUGH OR FROM THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS.

ANY MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE SERVICES IS DONE AT YOUR OWN DISCRETION AND RISK, AND YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH MATERIAL.

How we will resolve disputes (It’s arbitration)

You agree that if we have a dispute about this Agreement or the Services (a “Dispute”), we’ll have to take care of it in Arbitration (vs. court).  PLEASE READ THIS CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH US AND LIMITS HOW YOU CAN SEEK RELIEF FROM US.

Governing Law. Except as otherwise required, the Agreement and the resolution of any Disputes will be governed and construed by California law without regard to its conflict of laws principles.

Informal Dispute Resolution. We want to address your concerns without needing a formal legal case. Before filing a claim against us, you agree to try to resolve the Dispute informally by contacting [email protected]. We will try to resolve the Dispute informally by contacting you through email. If a dispute is not resolved within 15 days after submission, you or we may bring a formal proceeding.

We Both Agree To Arbitrate. You and Oportun agree to resolve any Disputes through final and binding arbitration, except as listed under Exceptions to Agreement to Arbitrate below.

Opt-out of Agreement to Arbitrate. You can decline this agreement to arbitrate by contacting [email protected] within 30 days of first accepting this Agreement or within 30 days of the effective date of any material change to these Terms by sending a written notice to us by certified mail at the following address: Hello Digit, LLC, 100 Pine St., 20th Floor, San Francisco, CA 94111, Attn: Arbitration Opt-Out. Your opt-out notice must include your name, address, phone number, and email address.

Arbitration Procedures. Your rights will be determined by a NEUTRAL ARBITRATOR and NOT a judge or jury. You are entitled to a FAIR HEARING, BUT the arbitration procedures may be SIMPLER AND MORE LIMITED THAN RULES APPLICABLE IN COURT. Arbitrators’ decisions are as enforceable as any court order and are subject to VERY LIMITED REVIEW BY A COURT. The American Arbitration Association (AAA) will administer the arbitration under its Commercial Arbitration Rules and the Supplementary Procedures for Consumer Related Disputes then in effect (“Rules and Procedures”). Arbitration will be handled by a sole arbitrator according to those rules. The arbitration will be in the United States county where you live or work, San Francisco, California, or any other location we agree to.

Arbitration Fees. The AAA rules will govern arbitration fees. If the arbitrator finds that your claim and relief is proper and has merit, and you show that the costs of arbitration will be prohibitive as compared to the costs of litigation, we’ll pay as much of your arbitration filing/hearing fees as the arbitrator says is necessary to prevent it from being cost-prohibitive (as compared to the cost of litigation).  

Confidentiality. The arbitrator will honor valid claims of privilege and privacy.  The arbitration will be confidential, and none of the parties may disclose the existence, content, or results of any arbitration, except as required by law or to enforce the arbitration award. 

Arbitration Award. Subject to the limitation of liability provisions of these Terms, the arbitrator may award any available individual relief or individual remedies. 

Exceptions to Agreement to Arbitrate. Either you or we may assert claims, if they qualify within the jurisdictional limits of the small claims court, in small claims court in San Francisco, California, or any United States county where you live or work. Either party may bring a lawsuit solely for injunctive relief to stop unauthorized use or abuse of the Services, or infringement of intellectual property rights (for example, trademark, trade secret, copyright or patent rights) without first engaging in arbitration or the informal dispute-resolution process described above.

No Class Actions. You may only resolve Disputes with us on an individual basis and may not bring a claim as a plaintiff or a class member in a class, consolidated, or representative action. Class arbitrations, class actions, private attorney general actions, and consolidation with other arbitrations are not allowed under our agreement. THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS, MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING, AND MAY NOT AWARD CLASS-WIDE RELIEF.

Judicial Forum for Disputes. Except as otherwise required by law, if the agreement to arbitrate is found not to apply to you or your claim, you and Oportun agree that any judicial proceeding (other than small claims actions) will be brought in the federal or state courts of San Francisco County, California. Both you and Oportun consent to venue and personal jurisdiction there. We both waive our right to a jury trial.

Limitation on Claims. Regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to this Agreement or the Services must be filed within one (1) year after such claim or cause of action arose, or it will be barred forever.

Severability of Provisions. With the exception of the subpart of this Section prohibiting arbitration on a class or collective basis, if any part of this arbitration provision is deemed to be invalid, unenforceable, or illegal, or otherwise conflicts with the Rules and Procedures, then the rest of this arbitration provision will remain effective and will be construed in accordance with its terms as if the invalid, unenforceable, illegal, or conflicting part was not contained herein. If, however, the subpart of this Section prohibiting arbitration on a class or collective basis of this Section is found to be invalid, unenforceable, or illegal, then the entirety of this arbitration provision will be null and void, and neither you nor we will be entitled to arbitration.

For more information on the AAA, the Rules and Procedures, or the process for filing an arbitration claim, you may call the AAA at 800-778-7879 or visit the AAA website at http://www.adr.org .

How we respond to legal process ( e.g., subpoenas and garnishments)

Receipt of Legal Process. Bank accounts are subject to legal processes, like tax levies ( e.g. , if you don’t pay your taxes and the IRS contacts us about it) and subpoenas ( e.g. , people can serve subpoenas on us about your finances).  We can’t list them all, but here are some: writ of attachment, adverse claim, execution, garnishment, tax levy, restraining order, subpoena and warrants.  If we receive one at any of our offices (and by any acceptable method) and believe it’s valid, we may honor it.  

Oportun is Not Liable and Will Not Assert Exemptions. We won’t be liable to you for honoring legal process and won’t take on any obligation to assert on your behalf any exemptions to execution or attachment under any applicable state or federal law.  For example, if the IRS says “give us records about their account” and you say “wait, I paid them already!” that’s something between you and the IRS; we’ll still respond to them. 

Account Restrictions. We may deny withdrawals or transfers from your accounts until the legal process is satisfied or dismissed even if it results in insufficient funds to process your transactions.  If we receive an order telling us to restrict access to funds in an account, we may remove the funds from the account and maintain them separately. These funds will not be considered part of your combined balances.

Processing Fee Reimbursement. If we receive any legal process related to you or your accounts, we may collect from you our processing fee, and reimbursement for our record research, reproduction and handling costs. We’re not saying we automatically will, but in some limited cases, we may deduct the fee, as well as any expenses ( e.g. , attorneys’ fees in connection with any such document or legal process), from your Savings account or your Linked Bank Account without prior notice to you, or we may bill you directly.

Some miscellaneous stuff that didn’t fit anywhere else

Third Party Websites. The Services may contain links or connections to third-party websites or services that are not owned by Oportun or our affiliates.  We don’t control or endorse those sites (unless we say otherwise) and aren’t responsible for their content. Your access and use of third-party websites and services are subject to applicable third-party terms and conditions and privacy policies. 

Taxes. You will be responsible for paying, withholding, filing, and reporting all taxes, duties, and other governmental assessments associated with your activity in connection with the Services, provided that we may, in our sole discretion, do any of the foregoing on your behalf or for ourselves.

Severability. If any provision of this Agreement is found to be unenforceable or invalid, that provision will be limited or eliminated, to the minimum extent necessary, so that this Agreement will otherwise remain in full force and effect.

Entire Agreement. This Agreement is the entire agreement between us with respect to the Services and supersedes anything else.  

Survival of Terms. If this Agreement or the Services are terminated, the terms in this Agreement that by their nature are continuing shall survive the termination, including the indemnification and hold harmless obligations, disclaimers and limitations of liabilities.

English Language Controls. Translations of this Agreement that we may provided are for your convenience only and may not accurately reflect the original English meaning.  The meanings of terms, conditions, and representations in the Agreement are subject to definitions and interpretations in the English language.

Other documents that are incorporated into this agreement

There are several other disclosures, terms and agreements (“Additional Terms”) that apply to your relationship with Oportun and use of the Services.  They’re incorporated by reference into this Agreement. By accessing or using the Services you agree to these and any other terms provided to you at any time during our relationship that are applicable to the Services.

Privacy Policy

Billing Agreement – Digital Banking and Savings

Sweepstakes Terms & Conditions

Referral Program Terms & Conditions

Direct by Pathward Demand Deposit Account Agreement and Fee Schedule

Savings Account Terms

Contacting us

If you have any questions, please email us at [email protected] , or write to us at:

Sensitive Information:  Because email communications are not always secure, please do not include account numbers or other sensitive information such as racial or ethnic origin, political opinions, religion, health, or the like) in your emails to us.

Billing Agreement–Digital Banking and Savings

Billing Agreement–Digital Banking and Savings (“Billing Agreement”) is part of Terms of Use – Digital Banking and Savings (“Agreement”).

Oportun Subscription. Oportun provides a paid subscription service for digital banking and savings. We analyze your spending and move money between accounts ( e.g. , from your Linked Bank Account into your Direct Account, or between your Spend, Bills and Savings accounts) to save for your Bills, Spending, Savings and Investment/Retirement. We may not move money every day, but we analyze your accounts daily.  This service is continuous, and this Billing Agreement will be in effect until you cancel it and we have had enough time to process the cancellation.

Cancelling Oportun Subscription. You can cancel your Oportun Subscription at any time through the Application or by contacting our Customer Service at [email protected].

Subscription Fee and Billing. The amount of the Subscription Fee is listed in the Direct by Pathward Demand Deposit Agreement. We’ll set money aside for this bill in your Bills account and withdraw it monthly to pay for the upcoming month’s Services.  When you join Oportun, we’ll set a monthly due date and your fee will be due on the same date each month (though we may slide it around based on your account activity to make sure that you have enough money to pay it).  

Special Pricing. You may be able to upgrade to annual Membership in the Application, if we offer this option. If you do, we’ll save money for the Annual Subscription Fee in your Bills account and withdraw it annually on the due date.  Again, we may slide it around to make sure you’ve saved enough money to pay it.  

Free Trial. If you get a free trial when signing up for Oportun, the monthly fee will be due the day after your free trial expires.  We’ll start setting money aside in your Bills account for this fee (see above). You can cancel your Subscription and close your Direct Account before any free trial ends if you don’t want to pay this Fee. 

Subscription Fee Changes. We may change the Subscription Fee and billing practices at any time. We’ll let you know of these changes in advance and as required by law.

Linked bank account access authorization

This Linked Bank Account Access Authorization (“Access Authorization”) is part of Oportun’s Terms of Use (“Agreement”).

Access to your Linked Bank Account. Oportun uses information from the financial institution(s) that hold your Linked Bank Account(s) and other third-party websites and databases (collectively “Third Parties” or “Third Party”) to provide the Services ( e.g. , to see your transaction history, or to help you pay your credit card bill). Sometimes we use a third-party service provider to access, collect or analyze information for us.  When we use “Oportun” in this Access Authorization, we’re including service affiliates and providers acting on our behalf. 

Your Authorization. You authorize us to get information about you and your Linked Bank Account from the financial institution holding your Linked Bank Account and additional personal and financial information about you that we may need to provide Services to you from any other Third Party. This authorization doesn’t expire, but you can let us know if you want to revoke it.

Power of Attorney. You grant us a limited power of attorney, and you appoint Oportun as your attorney-in-fact and agent, SOLELY to access Third Party services to request and retrieve information and use it to provide Oportun Services to you.  

WHEN OPORTUN ACCESSES AND RETRIEVES INFORMATION FROM ANY THIRD PARTY, OPORTUN IS ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY.

Reliance. Third Parties can rely on this Access Authorization when providing information to Oportun.

Information. Oportun will not review information from any of the Third Parties for accuracy, legality, or non-infringement. As between Oportun and our third-party service providers, Oportun owns your confidential information.