RAIN TECHNOLOGIES INC.
AUTO BALANCE TERMS AND CONDITIONS
Effective Date: February 5, 2024
These Auto Balance Terms and Conditions (“Terms”) apply to the “Auto Balance Feature” (“Auto Balance”) offered on the Rain App. Please review the “Effective Date” of these Terms each time you use the Rain App or enroll to participate in Auto Balance.
These Terms are part of the Electronic Fund Transfer Agreement (“EFT Agreement”) that apply to the use of the Rain App or the use of Rain’s Site. Under these Terms and the EFT Agreement, Rain Technologies Inc., acts for itself and its Affiliate(s). Each of Rain and its Affiliate(s) is referred to as “Rain” (individually or collectively).
These Terms and the EFT Agreement govern the terms and conditions for Rain’s products and services individually or collectively (the “Services”) in connection with Your participation in Auto Balance.
The person who downloads or uses the Rain App or uses Rain’s Site (“You”) and who chooses to use the Auto Balance feature agrees to the then-current: (i) Terms; (ii) EFT Agreement; and (iii) the Terms of Service that apply to the use of the Rain App or Rain’s Site.
Rain may, at any time, change any condition, term, or provision of these Terms, including by exercising its rights to impose any new type of fee or charge on You or to increase the cost or the price of any of the Services, except to the extent not permitted by applicable law. This means that Rain may change: (i) the Terms in ways that may affect how you can use Auto Balance, such as by adding new conditions; and (ii) the type or amount of any fee that may be imposed for participating in Auto Balance or conducting transactions using Auto Balance.
These Terms include the following:
I. Participation and Transaction Fees for Auto Balance
II. How to Use Auto Balance
III. Conditions and Limitations
IV. Arbitration Agreement; Other Terms
IMPORTANT INFORMATION WILL BE PROVIDED TO YOU IN ELECTRONIC RECORDS, SUCH AS VIA EMAIL.
As stated in the EFT Agreement, the use of the Rain App or any part of the Services with Your mobile phone, tablet, or laptop represents Your agreement, as well as Your course of dealing, to conduct transactions and communicate with Rain via electronic methods.
I. Participation and Transaction Fees for Auto Balance
1. In general. Rain may impose a fee or charge on You for participating in Auto Balance, as well as for any transactions relating to any Electronic Payment(s) conducted when using Auto Balance (each a “Fee”). Rain may, in its sole discretion, allow You two or more options to make a payment of a Fee; provided, however, that at any time, Rain may initiate an Electronic Payment to debit Your Primary Bank Account to satisfy any amount You owe Rain for any Fee.
2. Optional Service. You may choose whether, and when, to participate in Auto Balance. Use of the Rain App for other Services is not subject to the condition of participating in Auto Balance or paying any Participation Fee (as defined herein). You may cancel at any time. Rain does not impose any fee for canceling participation in Auto Balance; provided, however, that Rain shall not be obligated to make any refund(s) of the Participation Fee(s) or Transaction Fee(s) once paid, except to the extent required by applicable law. If You cancel Your participation in Auto Balance, and then later decide to again use the Auto Balance feature, You will be subject to the price schedule for Fees that applies at that later date (which also may be subject to change, in accordance with these Terms).
3. Participation Fee. When You choose to participate in Auto Balance, You agree that Rain may impose and that You shall have the obligation to pay a Fee (the “Participation Fee”). The Participation Fee is charged once for each period when You are enrolled in Auto Balance, such as on a monthly basis. The amount of the Participation Fee may be: (i) displayed in the Rain App at the time You enroll to participate in Auto Balance or (ii) disclosed to You in a timely manner that enables You to choose whether to enroll in Auto Balance (or timely revoke your enrollment). Except to the extent prohibited by applicable law, Rain shall not be obligated to waive any Participation Fee or to make any refund(s) of the Participation Fee(s) once paid. Rain may, at any time, change any condition or term relating to the Participation Fee(s), except to the extent prohibited by applicable law. This means that Rain may change: (i) the Terms in ways that may affect how you can use Auto Balance, such as by adding new conditions; and (ii) the type or amount of any Participation Fee for Auto Balance.
4. Transaction Fee. When You choose to use Auto Balance, You further agree that Rain may impose and that You shall have the obligation to pay the applicable Fee for any Electronic Payment(s) that You obtain (each a “Transaction Fee”). The amount of the Transaction Fee may be: (i) displayed in the Rain App at the time You enroll to participate in Auto Balance or (ii) disclosed to You in a timely manner that enables You to choose whether to enroll in Auto Balance (or timely revoke your enrollment). Except to the extent prohibited by applicable law, Rain shall not be obligated to waive any Transaction Fee or to make any refund(s) of the Transaction Fee(s) once paid. Rain may, at any time, change any condition or term relating to the Transaction Fee(s), except to the extent prohibited by applicable law.
5. No Guarantee of Discounted Fees. Rain offers the optional Auto Balance feature subject to a price schedule that includes: (1) the “Participation Fee; and (2) a Transaction Fee for the Electronic Payment(s), i.e., the Earned Wage Payment to You. The amounts of the Participation Fee and the Transaction Fee, including any reduction in the Transaction Fee (relative to an on-demand transaction), if any, are presented to You when You use Auto Balance in the Rain app. If the Transaction Fee for Earned Wage Payment(s) made via Auto Balance is reduced, You acknowledge and agree that any reduction in that Fee (if any) is relative to the amount that Rain ordinarily charges for an on-demand request for an Earned Wage Payment (e.g., initiated via debit card). Overall, the price schedule is designed so that if You use Auto Balance to make several Electronic Payments during the period (for example, four Earned Wage Payments during one calendar month), the overall amount of Fees that are charged may be lower, but need not be at all times while participating. Whether the costs for participating in Auto Balance may be “reduced” is determined solely to the comparable costs of the Fees that would be incurred if those Earned Wage Payments were requested separately, as on-demand transactions via debit card. However, Rain provides no representation or warranty that, at any time that You participate in Auto Balance, the Fees that are imposed are the lowest amount(s) available on the Rain App or shall be reduced, in any way, for transactions conducted via Auto Pay, including when compared to on-demand transactions that You request on the Rain App.
When using Auto Balance, the cost on a per-transaction basis, as well as the total cost for the period, may vary. During the period when You use Auto Balance, the cost of on a per-transaction basis will depend on: (i) the amount of the Participation Fee and (ii) the number of Electronic Payments You receive during the period. The total cost of Auto Balance for the period will depend on: (x) the amount of the Participation Fee and (y) the total number of Electronic Payments You receive during the period.
When You request on-demand transactions on the Rain App during a period when You are participating in Auto Balance, Your overall costs for using the Services may increase (i.e., relative to not participating).
II. How to Use Auto Balance
1. Link to Your Primary Bank Account. To participate in Auto Balance, You shall enroll and link to Your Rain Account one or more of Your transaction accounts, such as a (i) prepaid account that is capable of accepting deposits or (ii) a checking, savings, or other deposit account, that You hold with a bank or credit union (each referred to as “Your Bank”). At all times, You shall designate one of Your transaction accounts held at Your Bank to be linked to Your Rain Account. (Your linked account is “Your Primary Bank Account.”) Rain may require You to link Your Rain Account to Your Primary Bank Account via a debit card or similar payment card that is capable of receiving Electronic Payments from Rain through Auto Balance. Subject to the conditions described in the preceding two sentences, You may change Your Primary Bank Account, except to the extent that Rain prevents or postpones the change (e.g., complete a pending Electronic Payment). When You request an Electronic Payment to be made to or from Your Rain Account, Your Bank may impose a fee for its product or service to You, and Rain shall not be liable to You or any other person in connection with such fee or similar charge. As between You and Rain, You shall be responsible for any act or omission made by Your Bank in connection with Your request of or Rain’s action relating to an Electronic Payment.
2. Desired Level of Balance and Timetable. When You choose to participate in Auto Balance, You must: (i) select Your desired level of balance of Your earned Wages for the Earned Wage Payment You need; and (ii) select how often—i.e., the number of days—You wish for Rain to check Your balance. For example, You can choose Your level of earned Wages to be $75.00, and have Rain check Your balance every three (3) days. Every third day, Rain checks Your earnings to see whether the amount has reached Your desired level. If on that third day the amount is higher than Your desired level of balance, plus any fee(s) that apply, then Rain makes the transaction for You.
3. No Schedule of Earned Wage Payments. When You choose to participate in Auto Balance, You acknowledge and agree that You are not engaging Rain for any Services in connection with scheduling an Earned Wage Payment. Rain shall hold no liability to You for either (i) making an Earned Wage Payment on or about the date that You have selected for Rain to monitor Your balance in the Rain Account; or (ii) declining to make an Earned Wage Payment on or about the date that You have selected for Rain to monitor Your balance in the Rain Account.
4. Services Limited to Balance Checking and Corresponding Transaction(s). Rain automatically monitors the balance of Your earned Wages, as reflected in the Rain App, on a timetable that meets Your needs. On the day that Rain checks the balance, if the balance of Your earned Wages in Your Rain account is below Your desired level, then no Earned Wage Payment is made. You acknowledge and agree that the timetable for checking Your balance might not correspond to the timetable for Rain to make Earned Wage Payments to You because the level of Your earnings could fluctuate during the period. You acknowledge and agree that if on the day that Rain checks the balance of Your earned Wages and that amount is lower than Your desired level, including any fee(s) that apply, then Rain shall not be obligated to make (and shall not be liable for making) any Earned Wage Payment.
5. Rain Selects Time for Monitoring; Determination of Balance. You acknowledge and agree that only Rain, and not You, holds the rights to determine the time during any calendar day (regardless of whether a day is a business day) to check the balance of Your earned Wages. You further agree that only Rain, and not You (or Your Employer), holds the rights to determine the amount of Your earned Wages, including by establishing that amount based on one or more types of data that Rain is permitted to use for that purpose in providing the Services.
6. On-Demand Requests for Earned Wage Payments While Participating in Auto Balance . If You participate in Auto Balance, You still are permitted by these Terms to use the Rain App for making on-demand requests for one or more Earned Wage Payments. Under these Terms and the EFT Agreement, You may make an on-demand request for an Electronic Payment, either by ACH or debit card. You acknowledge and agree that, if You request an on-demand transaction for an Earned Wage Payment via debit card, the Fee for that Payment will not reflect any reduction (if any) in the Transaction Fee that may otherwise apply when using Auto Balance. If You need or wish to make an on-demand request for an Earned Wage Payment, either by ACH or by debit card, You agree that You first shall check the balance of Your earned Wages. Any on-demand Earned Wage Payment that You obtain will reduce the balance of Your earned Wages in Your Rain account, and the balance might not be higher than Your desired level for Auto Balance (plus any fee(s)) on the upcoming date when Rain checks the balance.
III. Conditions and Limitations
1. Settlement of Funds in Your Primary Bank Account. You warrant that You are responsible for the timing of making any request for an Electronic Payment, including any Earned Wage Payment, in order for funds to be available to You in Your Primary Bank Account. Rain shall bear no liability of any kind relating to the time that You make a request for an Electronic Payment or an Earned Wage Payment. You warrant that You will hold Rain harmless for any and all losses, costs, or damages to You of any kind due to the timing of any settlement or availability of funds in Your Primary Bank Account, except if Rain does not timely initiate the processing of the Electronic Payment. This means that Rain shall be obligated to You to effect the Electronic Payment (including an Earned Wage Payment) in the amount You request; provided, however, that depending on Your Bank’s funds availability policy or other factors, the funds made available to You by Your Bank could be available to You on a date than is later than You expect (when making Your request via the Rain App) or the funds Your Bank makes available may be less than the amount You had requested. You could, for example, receive an amount from Your Bank in Your Primary Bank Account that is less than the amount You had requested for the Electronic Payment if Your Bank delays access to such funds or exercises any right Your Bank may hold to set off or make any other deduction from Your Primary Bank Account.
2. Rain’s Performance Focuses on Your Balance of Earned Wages. You acknowledge and agree that Your use of Auto Balance principally involves engaging Rain to check the balance of Your earned Wages according to Your desired interval of days. For example, if You use Auto Balance to have Rain check Your balance every three (3) days, then on the third day Rain checks Your earnings to see whether the amount has reached Your desired level. If the amount is lower than that level (including any fee(s) that apply), then Rain does not make any transaction via Auto Balance; Rain checks again three (3) days later. You agree that, except to the extent otherwise prohibited by applicable law, as between You and Rain, Rain’s sole source of liability to You shall be based on whether Rain reasonably acted to check the balance of Your earned Wages according to Your desired interval of days. You further acknowledge and agree that nothing in these Terms imposes any obligation on Rain to make any Earned Wage Payment to You if, based on any information that Rain collects (if any) from Your employer the balance is insufficient to cover the principal amount that You have selected.
IV. Arbitration Agreement; Other Terms
ARBITRATION NOTICE: THE EFT AGREEMENT CONTAINS AN ARBITRATION CLAUSE. EXCEPT FOR CERTAIN TYPES OF DISPUTES MENTIONED IN THE ARBITRATION CLAUSE, YOU AND RAIN AGREE THAT DISPUTES BETWEEN US REGARDING AUTO BALANCE WILL BE RESOLVED BY MANDATORY BINDING ARBITRATION, AND YOU AND RAIN WAIVE ANY RIGHT TO PARTICIPATE IN A CLASS-ACTION LAWSUIT OR CLASS-WIDE ARBITRATION.
2. Discontinuing the Services. Rain reserves the right to modify or discontinue the Services (or any portion of the Services), including Auto Balance, temporarily or permanently. Rain shall notify you in advance of Rain’s election to exercise its right to discontinue the Services. Rain shall not be liable to You or any third party in the event that Rain exercises its right to modify or discontinue any portion or all of the Service.
3. Term. The Services, including Auto Balance, shall be provided from the date on which You download or register for the Services and accept these Terms, and the Services shall continue until terminated. This means that the term for Auto Balance runs until (i) You cancel Your participation in Auto Balance or (ii) Rain cancels Your participation in, or discontinues, Auto Balance, whichever is earlier.
Rain Technologies Inc. V. 4.1.3 Eff 20240205