November 21, 2022
Agreement to Terms
By using our Services or clicking “Continue” or “Agree and Continue” (or a similar button or link) when provided with a link or other access to these Terms, you agree to be bound by these Terms. If you don’t agree to be bound by these Terms, do not use the Services or click “Continue.” Please retain a copy of these Terms.
Albert E-Consent Terms
Option for Paper or Non-Electronic Records
You may request any E-Communications in paper copy by contacting our third-party product partner directly (if the E-Communications are to or from that third-party product partner) or by sending an e-mail to email@example.com (if the E-communications are to or from us). We or our third-party product partner, as applicable, will provide paper copies upon your request, but we and they reserve the right to charge a fee, in our discretion, for providing such paper copies. We and our third-party product partners will retain records of E-Communications in accordance with applicable law.
Scope of Consent
Your E-Consent applies to all interactions online concerning you and us (and/or our third-party product partners, as applicable) and includes interactions engaged in on any mobile device (whether smartphone, tablet or otherwise) or computer. By agreeing to these Terms, you are consenting to have us (and/or our third-party product partners, as applicable) process your information and interact with you electronically. We (and/or our third-party product partners, as applicable) may also send you E-Communications that are related to our (and their) interactions and transactions with you. E-Communications may be provided online through our App or Site, or our third-party product partners’ apps or websites, and may be provided by e-mail.
Consenting to Do Business Electronically
Before you decide to do business electronically with us and our third-party product partners, you should consider whether you have the required hardware and software capabilities described below.
Hardware and Software Requirements
To access and retain E-Communications, you will need a mobile device or computer capable of accessing the Internet, access to an e-mail account and an Internet browser that supports 128-bit encryption. To read certain documents, you may also need a PDF file reader. To retain a copy of E-Communications for future reference, you will need a printer or a storage device with sufficient space, such as your computer's disk drive, or space to store screenshots on your mobile device. You may send any questions regarding the hardware and software requirements directly to us or to our third-party product partners.
Your consent to receive E-Communications will remain in effect until you withdraw it. You may withdraw your consent to receive E-Communications by sending an e-mail to firstname.lastname@example.org. If you withdraw your consent to receive E-Communications, Albert reserves the right to either restrict or close your Albert Account in whole or in part, including all of your product-specific accounts such as Albert Savings, Albert Investing, Albert Instant, and Albert Cash. If we choose to close your Albert Account, we will return any remaining balances in your Albert Savings, Albert Investing, and Albert Cash Accounts and you will no longer be able to use any of our products or services.
Any withdrawal of your consent to receive E-Communications will be effective only after we have a reasonable period of time to process your withdrawal. Please note that your withdrawal of consent to receive E-Communications will not apply to E-Communications provided by us to you before the withdrawal of your consent becomes effective.
Updates to Your Contact Information
You must keep us and our third-party product partners informed of any change in your phone number, e-mail address or mailing address. You may update such contact information by logging into our Site or the App (and our third-party product partners’ websites, as applicable) or by sending us (and our third-party product partners, as applicable) a written update by mail.
You understand and agree that if Albert sends you an E-Communication but you do not receive it because your contact information on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive any E-Communications, Albert will be deemed to have provided the E-Communication to you.
Consent to Obtain Information from Third Parties
By creating an Albert Account, you understand and agree that you are providing instructions in accordance with the Fair Credit Reporting Act and other applicable law for Albert to request and receive information about you from third parties, including but not limited to a copy of your consumer credit report and score from third-party consumer reporting agencies, at any time for so long as you have an active Albert Account.
You authorize Albert to transfer your personal and financial information to our third-party product partners on your behalf, for the purposes of generating certain pre-approved loan or other product offers. You authorize our third-party product partners to obtain a copy of your consumer credit report and related information about you (what is sometimes called a “hard pull”), including financial information, from third-party consumer reporting agencies, and to use such information to provide pre-approved loan or other product offers to you.
You also understand that these Terms are not an application for credit and that finding a pre-approved offer is not a guarantee of approval.
Changes to Terms or Services
We may modify the Terms at any time in our sole discretion. If we do so, we’ll let you know either by posting the modified Terms on the Site and App or through other communications. It’s important that you review the Terms whenever we modify them because if you continue to use the Services after we have posted modified Terms on the Site or App, you are confirming to us that you agree to be bound by the modified Terms. If you don’t agree to be bound by the modified Terms, then you will not be allowed to use the Services anymore. Because our Services are evolving over time, we may change or discontinue all or any part of the Services, at any time and without notice, in our sole discretion.
ARBITRATION NOTICE: UNLESS YOU OPT OUT OF ARBITRATION WITHIN 30 DAYS OF THE DATE YOU FIRST AGREE TO THESE TERMS BY FOLLOWING THE OPT-OUT PROCEDURE SPECIFIED IN THE “DISPUTE RESOLUTION BY BINDING ARBITRATION” SECTION BELOW, AND EXCEPT FOR CERTAIN TYPES OF DISPUTES DESCRIBED IN THE “DISPUTE RESOLUTION BY BINDING ARBITRATION” SECTION BELOW, YOU AGREE THAT DISPUTES BETWEEN YOU AND ALBERT WILL BE RESOLVED BY BINDING, INDIVIDUAL ARBITRATION AND YOU ARE WAIVING YOUR RIGHT TO A TRIAL BY JURY OR TO PARTICIPATE AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS ACTION OR REPRESENTATIVE PROCEEDING.
Description of Services
Through the Services, Albert monitors and analyzes your financial accounts, and based upon analytics, the Services provide you with automatically generated recommendations as to actions you can take regarding your financial situation. For example, Albert may recommend actions like repaying credit card debt with a low-interest loan, getting renters’ insurance, lowering credit card fees, or setting up a retirement plan. Albert has built relationships with various financial institutions so you can act on the recommendations provided through the Services if you choose to do so.
Albert also provides a subscription fee-based service called Albert Genius. Customers subscribed to Albert Genius have access to the Albert Investing Account (as defined below), Rewards (as defined below), premium features, and also have the option of texting financial questions to Albert and receiving financial answers and advice. In addition, Albert Genius gives you access to our financial advisors through virtual workshops and coaching sessions.
The Services are provided to assist you in managing your own finances and decision-making. Neither Albert nor the Services are intended to provide legal or tax advice. Albert is not a bank or tax advisor. The banking services associated with your Albert Cash Account are provided by Sutton Bank, Member FDIC. Albert Savings accounts are held for your benefit at FDIC-insured banks, including Coastal Community Bank, Axos Bank, and Wells Fargo, N.A. Your personal financial situation is unique, and therefore any information and/or recommendations obtained through the Services other than investing advisory services provided to you by Albert Investments, may not be appropriate for your own situation. Accordingly, before making any final decisions or implementing any financial strategy, you should consider obtaining additional information and advice from your accountant or other financial advisors who are fully aware of your individual circumstances.
We are not responsible for any third-party fees that may be incurred as a result of using the Services, including, but not limited to, being charged an overdraft or insufficient funds fee. We do not control the sequence in which the bank or other financial institution you hold a Bank Account (as defined below) with processes any charges. It is your responsibility to review the terms associated with your Bank Account and understand any policies regarding overdraft, insufficient funds fees as well as the manner in which the bank processes any charges. Notwithstanding the above, for certain Overdraft Fees (as described below) we do provide a reimbursement. Please refer to our Overdraft and Non-Sufficient Fund Fee Reimbursement Policy for additional information on eligibility for reimbursement covering overdraft or insufficient funds fee charges.
The Content (as defined below) may contain typographical errors or other errors, inaccuracies or deficiencies, and may not be complete, accurate or up to date. We reserve the right to correct any error, deficiency, omission or inaccuracy in any Content or otherwise on our App at any time, but we do not guarantee that any such errors, deficiencies, omissions or inaccuracies will be corrected.
Eligibility to Use Services
You may use the Services only if you: (i) are 18 years or older and capable of forming a binding contract with Albert; (ii) are a United States citizen (or a legal U.S. resident); (iii) are the owner of the bank deposit account or a credit union share draft account with a U.S. financial institution (any such account, a “Bank Account”) that is connected to your Albert Account; and (iv) are not barred from using the Services under applicable law. We refer to a bank and a credit union interchangeably as a “bank”. If your Bank Account is a joint account, you represent and warrant that you have the authority to bind the absent account holder and to enter into these Terms.
Registration and Your Information
If you want to use the Services, you’ll have to create an account with Albert (an “Albert Account”), which requires you to connect your Bank Account or Albert Cash Account to Albert. Albert is not a bank, and an Albert Account is not a bank account. The banking services associated with your Albert Cash Account are provided by Sutton Bank, Member FDIC. Albert Savings accounts are held for your benefit at FDIC-insured banks, including Coastal Community Bank, Axos Bank, and Wells Fargo, N.A. An Albert Account includes your agreements with Albert, along with any applicable service provider agreements, and gives you ownership of the funds you place in the Albert Savings Account (as defined below) and the Albert Cash Account. You can create an Albert Account by using an e-mail address and password via the App, and to the extent that the functionality of the Services allows it, via the Site. In order to create your Albert Account, you will also need to provide certain information requested by us, such as your name and cellular phone number. So that we can provide the Services to you, you may also need to provide the online credentials details of your Bank Account, such as the username, password and/or other credentials that allow you to access your Bank Account on the Internet.
For our compliance purposes and in order to provide the Services to you, you hereby authorize us (or our third-party service providers) to obtain, verify, and record information and documentation that helps us verify your identity and Bank Account details. When you create your Albert Account and from time to time thereafter, we may require you to and you hereby agree to provide and/or confirm information and documentation that will allow us to identify you, such as:
- A copy of your government-issued photo ID, such as a passport or driver’s license;
- A copy of a utility bill, bank statement, affidavit, or other bill, dated within three (3) months of our request, with your name and U.S. street address on it; and
- Such other information and documentation that we may require from time to time.
It’s important that you provide us with accurate, complete and up-to-date information for your Albert Account, Albert Cash Account and Bank Account, and you agree to update such information, as needed, to keep it accurate, complete and up-to-date. If you don’t, we might have to suspend or terminate your Albert Account. You agree that you won’t disclose your Albert Account password to anyone and you’ll notify us immediately of any unauthorized use of your Albert Account. You also agree not to transfer your Albert Account to any third party. You’re responsible for all activities that occur under your Albert Account, whether or not you know about them.
Overdraft and Non-Sufficient Fund Fee Reimbursement Policy
Albert’s policy is to reimburse overdraft or non-sufficient fund fees (“Overdraft Fees”) charged by your bank or other financial institution as a direct result of automatic withdrawals or automatic payments initiated by Albert for the Services from your Bank Account at your bank or other financial institution subject to you providing Albert with documentation reasonably satisfactory to Albert of such Overdraft Fee. For example, automatic withdrawals to your Albert Savings Account, automatic payments of Genius subscriptions or repayments of an Albert Instant that result in an Overdraft Fee are eligible for reimbursement from Albert.
Overdraft Fees charged by your bank or other financial institution resulting from a transfer from your Bank Account initiated by you or another authorized signatory either as a withdrawal to an Albert Account or payment for Services are ineligible for reimbursement. For example, any transfers initiated by you or another authorized signatory on your Bank Account to an Albert Cash Account, Albert Investing Account or Albert Savings Account, or for payments for Albert Genius or an Albert Instant that result in an Overdraft Fee are ineligible for reimbursement from Albert.
The Albert Account which triggered an eligible Overdraft Fee must be active for you to receive reimbursement for such Overdraft Fee. Requests to reimburse Overdraft Fees must be submitted within ninety (90) days of the original charge to be eligible for reimbursement. No reimbursements will be made for Overdraft Fees incurred as a result of a deactivated Albert Account. The total number of reimbursements by Albert for Overdraft Fees that you may receive in the aggregate is two.
You may provide a voluntary tip to Albert as an Albert user. You will never be denied access to your Albert Account or eligibility for any Albert product for not providing a tip or for the tip amount you choose to provide. Tips are non-refundable and the amount you choose to tip cannot be changed following payment. If you need help selecting a tip amount before confirming or updating your tip amount prior to payment, please text Genius or e-mail email@example.com. Please see the App and the Site for more details on optional tips.
Albert Savings Account
The Services allow you to use a savings account through the App that we call the “Albert Savings Account”. We use the term “Albert Savings” to refer to the Services associated with the Albert Savings Account. The funds in your Albert Savings account are FDIC-insured through our partner banks, including Wells Fargo, N.A., Axos Bank, and Coastal Community Bank. Albert may from time to time move the funds held in your Albert Savings Account to or from other FDIC-insured banks. Your funds and the funds of all other participants in Albert Savings are held in the name of Albert Corporation or one of our partner banks as custodian for your benefit and the benefit of those other participants. Albert’s system keeps track of how much money is yours. You are the legal owner of your money in the Albert Savings Account. Albert is not a bank and Albert has no ownership of any funds in the Albert Savings Account.
In certain instances when you open a new Albert Savings Account, or when you upgrade your current Albert Savings account, you acknowledge and agree that the banking services associated with your Albert Savings account are provided by Coastal Community Bank, Axos Bank or Wells Fargo, N.A., each Member FDIC. In addition, there may be certain instances where you are unable to change the Bank Account linked to your Albert Savings Account for a certain period following the date you opened your Albert Savings Account. Please see the App and the Site for more details.
Albert Savings offers several ways to transfer funds to your Albert Savings account: manual, scheduled, or smart savings. One or more of these options may only be available to Genius subscribers. For smart savings, based upon our analytics, we identify funds in your Bank Account and Albert Cash Account that may be put towards your savings, and based upon your ACH authorization provided below, we may periodically transfer funds from your Bank Account and Albert Cash Account to the Albert Savings Account via ACH, a real-time payment option, or other similar payment option.
The funds in the Albert Savings Account are FDIC-insured up to $250,000 per user, subject to the FDIC’s rules about deposit insurance. For example, if you have a separate deposit account in your name at the same bank where Albert stores its pooled deposit accounts, then the FDIC may count the funds in your separate account towards the FDIC’s $250,000 insurance limit. We may from time to time move funds between the Albert Savings Account and another pooled custodial bank account maintained by Albert, for liquidity, backup and storage purposes, but this will not affect your ability to access the funds that are held in the Albert Savings Account on your behalf and you remain the legal owner of your funds. Your funds will remain in the Albert Savings Account until you instruct us to transfer any or all of your funds from the Albert Savings Account to your Bank Account or Albert Cash Account, as applicable, by requesting the transfer in the App. We will use commercially reasonable efforts to transfer your requested funds from the Albert Savings Account to your Bank Account or Albert Cash Account, as applicable, within three (3) business days after we receive your request. It is important for you to know the amount of funds available to you in the Albert Savings Account before instructing us to transfer funds from the Albert Savings Account to your Bank Account or Albert Cash Account, as applicable. If you do not have sufficient available funds in the Albert Savings Account to cover the amount of the requested transfer, your request for the transfer will be declined. We may also transfer funds from the Albert Savings Account to your Bank Account or Albert Cash Account, as applicable, without notice to you upon the closure of your participation in Albert Savings and at any time if required by applicable law. All funds which are held in your Albert Savings Account are subject to a lien in our favor for the payment of all balances and other obligations arising in connection with any account you have with us. You grant us your express legal authority to use and/or transfer any and all balances and other property in your Albert Savings Account as needed to satisfy any indebtedness arising in connection with any account you have with us, to the extent permitted by law.
You may not use your funds in the Albert Savings Account to make purchases, withdraw cash from an automated teller machine or by any other means, transfer funds to third parties, or for any other purpose. You are solely responsible for determining whether the funds debited from your Bank Account and Albert Cash Account and the funds maintained for you in the Albert Savings Account are acceptable to you. We are not responsible for any third-party fees that may be incurred as a result of using the Services, including, but not limited to, fees you may incur as a result of maintaining insufficient funds in your Bank Account. While Albert does not charge Overdraft Fees, your Bank Account may. We are not responsible for ensuring your Bank Account has sufficient funds for your needs, purposes, or transactions. While we work hard to transfer funds from your Bank Account when we think you can afford it, we cannot guarantee that our calculation of what we think you can afford to save through Albert Savings won’t cause an overdraft or trigger an insufficient funds fee in your Bank Account. Notwithstanding the above, for certain Overdraft Fees we do provide a reimbursement. Please refer to our Overdraft and Non-Sufficient Fund Fee Reimbursement Policy (above) for additional information on eligibility for reimbursement covering overdraft or insufficient funds fee charges.
There is no minimum opening deposit requirement to open an Albert Savings Account and no fees charged by Albert to maintain an Albert Savings Account.
Your Authorization for Debits and Credits via ACH, Real-Time Payment Option, or Other Similar Payment Option
By creating an Albert Account and using the Services, you provide your electronic signature to these Terms and you authorize Albert to electronically debit and credit your Bank Account and Albert Account as it relates to the relevant Service via the Automatic Clearing House (“ACH”), real-time payment option, and/or other similar payment option and, if applicable, to correct erroneous debits and credits via ACH, real-time payment option, and/or other similar payment option. Your continued use of the Services reaffirms your authorization set forth above and your authorization will remain in full force and effect until rescinded (as set forth below).
With respect to the automatic savings feature that may be in Albert Savings, the amount and/or the day of the week that we debit your Bank Account and/or Albert Cash Account may vary and such debits may be more or less than previous debits. You have the right to receive notice of any debit that would vary in amount from the previous week’s debit upon request, but you agree that we are only required to provide advance notice if a particular debit from your Bank Account or Albert Cash Account would be more than the maximum amount previously authorized by enabling automatic savings. To view the maximum amount, please refer to the App or the Site. Since our policy is that no single debit will exceed the maximum amount, we do not expect to provide advance notice for any debit from your Bank Account or Albert Cash Account as a result of your use of automatic savings.
We try to avoid you incurring Overdraft Fees but, despite our efforts, your bank may charge you an Overdraft Fee for actions related to your Albert Account including but not limited to Albert initiating a withdrawal from your Bank Account for repayment of an Albert Instant advance or the transfer of funds to your Albert Savings Account or Albert Investing Account. Such fees are retained by your bank; we do not receive any portion of such fees. Notwithstanding the above, for certain overdraft or insufficient funds fees we do provide a reimbursement. Please refer to our Overdraft and Non-Sufficient Fund Fee Reimbursement Policy in our App or on the Site for additional information on your eligibility to receive such reimbursement.
Your authorization set forth above may be rescinded only if you notify Albert that you wish to revoke such authorization in the following manner:
- For your Albert Savings Account, turn off automatic savings in the App.
- For your Albert Investing Account, turn off automatic investing in the App.
- For other Services, contact us via the “Contact Support” link in the App.
You must notify us that you are exercising your right to stop a debit or revoke your authorization for automatic debits at least three (3) banking days before the next scheduled debit date. Similarly, if you turn off automatic savings or automatic investing, that change in your settings may not take effect or stop a pending debit transaction for up to three (3) banking days. If you turn off automatic savings or automatic investing or notify us that you are revoking this debit authorization, but you do so less than three (3) banking days before the next scheduled debit date, we may nonetheless attempt, in our sole discretion, to cancel that scheduled debit transaction. However, we assume no responsibility for our failure to do so.
You agree to cooperate with us in correcting errors that may occur as part of the Services. If you receive funds or a credit in an amount greater than what you are entitled to receive under the Services and these Terms, then you agree to immediately return and pay such excess amount to us. You agree that we and our agents may reverse, withdraw or cancel any debit, transaction or item that provided you with funds in error. You agree that an error occurred if we or our agents send any funds to you after we receive evidence indicating that you defrauded us or provided us or our agents with false information. You agree that we may initiate a new ACH, real-time payment option, and/or other similar payment option debit to your Bank Account or Albert Account, as applicable, in an amount equal to such overpayment plus the amount of expenses we incurred in recovering such overpayment, including the amount of your obligations, if any, under the “Indemnity” provision below. This paragraph shall survive termination, discontinuation, or cancellation of the Services or your Account for any reason.
In addition to any of your other representations and warranties in these Terms, you represent that: (i) your browser is equipped with at least 128-bit security encryption; (ii) you are capable of printing, storing, or otherwise saving a copy of this electronic authorization for your records; (iii) the ACH, real-time payment option, and/or other similar payment option transactions you hereby authorize comply with applicable law; and (iv) your e-mail address on record with us is yours and that e-mail address is accurate and up-to-date.
Payments by Albert
Albert may choose to pay you based on the amount of money you hold in the Albert Savings Account and the length of time that the money is held in the Albert Savings Account. Albert may refer to such payments as “rewards”, “bonuses”, or other labels or designations. Albert may in its sole discretion begin paying such amounts, reduce such payments, change the methods of calculating such payments or discontinue making such payments altogether. Such payments by Albert or commitments to make such payments do not create or imply a debtor/creditor relationship between you and Albert. If Albert chooses to make such payments, then Albert’s obligation, if any, to do so is not guaranteed or insured by the FDIC or any other person. If Albert were to go out of business before paying accrued amounts, you likely would not receive those accrued and unpaid amounts.
Albert may also choose to pay you based on actions you take in the App, such as linking a bank account or signing up for Albert Genius, or other actions to be determined by Albert. Albert may refer to such payments as “bonuses,” “gifts" or other labels or designations. Albert may in its sole discretion begin paying such amounts, reduce such payments, change the methods of calculating such payments or discontinue making such payments altogether. These payments are only valid for bank accounts that have not been used with the App previously, and you are only eligible to receive a single type of payment once.
Payments by Albert may constitute taxable income to you, although Albert does not provide any tax advice and strongly suggests that you consult with your tax adviser on any tax questions.
Albert provides you with the option of using bill negotiation services from within the App offered by The Bill Reduction Company, LLC (“Billshark”). Billshark works on your behalf to negotiate a lower price on your bills. Billshark’s team of professional negotiators contacts and negotiates with your bill providers directly to get you the best possible rate. In order to use Billshark’s services, you will be required to confirm or provide certain personal, account, and payment information which we will submit to Billshark on your behalf. You acknowledge and agree that your use of Billshark’s services is governed by and subject to Billshark’s Customer Agreement). Please read the Billshark Customer Agreement carefully before deciding to use their services.
You may open a brokerage account through the App that we call the “Albert Investing Account”. Investment advisory services associated with your Albert Investing Account are provided by Albert Investments, LLC (“Albert Investments”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Albert Investments is a wholly owned subsidiary of Albert. Albert Investments provides investment advisory services (“Advisory Services”) through the App and may also provide its Advisory Services via text message, over the phone, or in person. Securities products and services offered through the Albert Investing Account are provided by Albert Securities, LLC (“Albert Securities”), a member of FINRA and SIPC.
When you elect to receive Advisory Services, you agree to check the App regularly for communications from Albert Investments and agree to provide and update client information electronically through the App. Communications through the App may involve the electronic transmission to any e-mail address you have provided to us of information that you may consider to be personal financial information, and you agree and consent to such transmission of such information.
In order to access the Advisory Services through the App, you must enter into all of the following: (i) an investment account management agreement with Albert Investments, and (ii) a securities brokerage and custody agreement with Albert and Apex Clearing Corporation (“Apex”), an SEC registered broker-dealer that provides brokerage services to Albert Investments, including custody, clearing, and settlement services for your Albert Investing Account (individually a “Client Agreement”, and collectively the “Client Agreements”). These Client Agreements, along with these Terms, collectively govern your relationship with Albert Investments with respect to the Advisory Services.
You will use Apex’s application program interface (where applicable) and our mobile application to access the electronically stored copies of Client Agreements and other documents and communications related to your Albert Investing Account. You do not object to and will not challenge the enforceability or use of the electronically stored copies of the Client Agreements.
Before you enter into these Terms and the Client Agreements, you agree to read the disclosures regarding the Advisory Services described in the Albert Wrap Fee Program disclosure involving discretionary investment advisory services sponsored by Albert Investments. You also agree to read the Client Agreements carefully before you agree to them, as they have the same legal effect as signing a paper version of these agreements. You understand that the Client Agreements may be modified and agree to check the App for any such updates. By keeping and using your Albert Investing Account, you agree to all of the terms and conditions, as modified from time to time, of these Terms and the Client Agreements.
While Albert does not charge Overdraft Fees, your Bank Account may. We are not responsible for ensuring your Bank Account has sufficient funds for your needs, purposes, or transactions and we cannot guarantee that a transfer of funds to your Albert Investing Account will not cause or trigger Overdraft Fees in your Bank Account. Notwithstanding the above, for certain Overdraft Fees we do provide a reimbursement. Please refer to our Overdraft and Non-Sufficient Fund Fee Reimbursement Policy for additional information on eligibility for reimbursement covering overdraft or insufficient funds fee charges.
ADDITIONAL TERMS AND CONDITIONS FOR YOUR ALBERT INVESTING ACCOUNT
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
For more information about Albert Investments and additional disclosures, please see our Investments Notice.
The Content provided in your Albert Investing Account, other than any Content with respect to the Advisory Services, is for educational and illustrative purposes only and does not imply a recommendation or solicitation to buy or sell a particular security or to engage in any particular investment strategy. Certain features in your Albert Investing Account may provide general information and guidance based upon your personalized input. The projections or other information regarding the likelihood of various investment outcomes, if any, are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results.
The calculations generated by any features do not take into consideration all costs, such as commissions and margin interest, which may impact the results shown. It is your sole responsibility to select the criteria to enter in any feature, or to choose among the pre-defined screens, and to evaluate the merits and risks associated with the use of any feature before making any investment decisions. We are not responsible for any losses that occur from such investment decisions.
Quotes and Market Data
A third party not affiliated with us may provide you access to market data and quotes to be used alongside your Albert Investing Account. If market data and quotes are provided to you by a third party, your use of the marked data and quotes will be governed by the terms and conditions imposed by such third party.
If we provide market data and quotes the following will apply. Any price quotes that we may provide may be delayed and may not be real time quotes, according to the rules and regulations applicable to exchanges and quote providers. We reserve the right to limit the number of free real-time quotes. We do not make any representations, warranties or other guarantees as to the accuracy or timeliness of any price quotes.
We may provide you information regarding the value of your share positions based on the share price at the close of the latest market day. The data is for informational purposes only and does not reflect the price you may receive if you sell your shares. You also acknowledge that the quotes, and information provided based on quotes, are obtained from sources that we believe to be reliable, but that we do not guarantee the accuracy and completeness of such quotes or information. You waive any claim that you might have against us or the quote provider related to the quotes or the quote-based information on the Services.
You represent and agree that the following statements are and will continue to be true for so long as you have access to your Albert Investing Account: (a) You will not use any information or market data provided by a national securities exchange or association in connection with any professional or commercial activities, and you agree to notify us if you intend to do so and to pay any additional charges; (b) you will not use your Albert Investing Account in conjunction with any business as a broker-dealer, investment advisor, futures commission merchant, commodities introducing broker, commodity trading advisor, member of a securities exchange or association or futures contract market, or an owner, partner or associated person of any of the foregoing; and (c) if you are employed by a bank or insurance company or an affiliate of either you will not perform functions related to securities or commodity futures trading activity, except with respect to your account(s) with us.
You agree that we are not required to inquire as to the authority or propriety of any instructions given to us by you or via your username and password, and we will not be liable for any losses you incur, (including any claims, damages, actions, demands, investment losses, or other losses, as well as any costs, expenses charges, attorneys’ fees, or other fees and expenses incurred by me), or other liability arising out of any such instructions as long as such instructions reasonably appear to be authentic.
You represent and agree that you have reached the age of majority in the state or jurisdiction where you reside and have the legal capacity and competency to enter into and be bound by these Terms.
Albert Investing Account Information
You have a duty to provide us with accurate Albert Investing Account information and to notify us in writing immediately if there are any changes to the relevant information associated with your Albert Investing Account. This includes, but is not limited to, changes in your name, e-mail address, mailing address, telephone number, investment objectives, taxpayer identification number or backup withholding requirements. You also must notify us immediately if you are or become employed or affiliated with a stock brokerage firm, bank, trust company, insurance company or securities exchange, or if you are or become an officer, director, 10% shareholder or affiliate of a publicly traded company.
Customer Identification Program Notice
Important Information You Need to Know about Opening a New Albert Investing Account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires financial institutions to obtain, verify and record information that identifies each person who opens an account.
This notice answers some questions about Albert's Customer Identification Program.
What types of information will I need to provide?
When you open an Albert Investing Account, we are required to collect the following information:
- Date of birth
- Identification number:
- U.S. citizen: taxpayer identification number (Social Security number or employer identification number)
- Non-U.S. citizen: taxpayer identification number; passport number and country of issuance; alien identification card number; or government-issued identification showing nationality, residence and a photograph of you.
You may also need to show or provide a copy of your driver's license or other identifying documents.
A corporation, partnership, trust or other legal entity may need to provide other information, such as its principal place of business, local office, employer identification number, certified articles of incorporation, government-issued business license, a partnership agreement or a trust agreement.
U.S. Department of the Treasury, Securities and Exchange Commission, and FINRA rules already require you to provide most of this information. These rules also may require you to provide additional information, such as your net worth, annual income, occupation, employment information, investment experience and objectives and risk tolerance.
What happens if I don't provide the information requested or my identity can't be verified?
We may not be able to open an account or carry out transactions for you. If we have already opened an account for you, we may have to close it.
If you fail to receive an Albert Investing Account statement within ten (10) business days or a transaction confirmation within five (5) business days, you must notify us in writing. If you fail to provide this notification or you do not receive such statement because your contact information on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive such statement, the statement or confirmation will be deemed delivered. Any oral communications regarding inaccuracies or discrepancies should be reconfirmed in writing to protect your rights, including those under the Securities Investor Protection Act (or SIPA). For discrepancies related to electronic fund transfers, please contact your financial institution. You understand that we shall not be deemed to have received any order electronically transmitted by you until we have acknowledged to you that the order has been received by us. You agree that we will not be liable to you for any losses arising in connection with your delay in properly reporting an error including without limitation losses resulting from market fluctuations.
Issuer and Adviser Communications
You must read and understand prospectuses and other communications you receive from securities issuers and advisers, including prospectuses and annual statements, and must promptly contact the issuer or adviser if you do not understand these documents.
Monitoring of Albert Investing Account Activity
You are responsible for promptly reviewing all orders, executions and account statements in connection with your Albert Investing Account. You are responsible for notifying us immediately in writing of any unauthorized use or unusual activity with respect to your Albert Investing Account, which may include, but is not limited to, failure to receive accurate confirmation of a transaction, receipt of confirmation of a transaction you did not place or the discovery of any inaccurate information relating to your Albert Investing Account. Further, you are responsible for inputting accurate trading information, and before entering additional orders, you are responsible for knowing the status of any orders that are pending. Unless you notify us of a discrepancy within ten (10) business days after the delivery of a confirmation or Albert Investing Account statement, it will be deemed to have been accepted by you as delivered.
You are a self-directed investor who is individually responsible for determining the suitability of your investment decisions. We are not responsible for the investment decisions made by you or on your behalf other than with respect to the Advisory Services. You acknowledge that you utilize self-managed investments in your Albert Investing Account at your own risk, including any investment and analytical tools we make available to you. You recognize that numerous independent resources are available from which you can obtain information about issuers, securities, exchanges, industries, and any other factor that might influence a reasonable investment decision. You understand that all trade orders placed through your Albert Investing Account for self-managed investments are at your sole risk and responsibility. Other than with respect to our Advisory Services, we do not make recommendations or offer investment, financial, legal or tax advice. You alone are responsible for evaluating the merits and risks associated with self-managed investments in your Albert Investing Account. We are not responsible for the strategies, actions or inactions taken with respect to self-managed investments in your Albert Investing Account. We are not responsible for the gains or losses you incur. The orders you place and instructions you give to us will be unsolicited. Other than with respect to our Advisory Services, our employees, agents and representatives are not authorized to give you investment advice, and any instructions you receive from us with respect to self-managed investments in your Albert Investing Account will be limited to technical or administrative guidance. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. You understand that the market values of securities fluctuate. Online trading has inherent risk due to system response, execution price, speed, liquidity, market data and access times that may vary due to market conditions, system performance, market volatility, size and type of order and other factors. An investor should understand these and additional risks before trading.
Investments Knowledge and Instructions
You assume individual responsibility for determining the suitability of all investment decisions and strategies you make or implement. You must base your investment decisions upon all information reasonably available to you and your own assessment of risks and rewards. You are solely responsible for knowing the rights and terms for all securities purchased, sold and/or maintained in your Albert Investing Account. You must educate yourself regarding any rights that could expire with respect to a security investment unless you take specific action. You must know the expiration dates and redemption dates relevant to your investments. You must know the circumstances under which rights associated with your investments may be called, cancelled or modified. You must provide us with appropriate instructions before a security investment in your Albert Investing Account expires worthless or is redeemed for less than its fair market value; otherwise, we may, at our discretion, sell the security and credit your Albert Investing Account with the proceeds.
Albert Investing Account Closure and Restriction
We may, at any time and at its exclusive discretion, close any Albert Investing Account or prohibit or restrict trading activity in any Albert Investing Account. The closing or restriction of an Albert Investing Account does not affect obligations incurred before the Albert Investing Account was closed.
You appoint us as your agent to carry out your directions and instructions in accordance with these Terms. You authorize us to take any action with respect to your Albert Investing Account that we deem necessary or suitable to accomplish the purposes of these Terms. You authorize us to invest and retain interest or returns on free cash balances in your Albert Investing Account, provided that you receive the interest or returns to which you are entitled under your express agreements with us, if any.
The purchase of any stock available in your Albert Investing Account may be limited to a maximum amount set at our own discretion.
Unless you specifically direct otherwise, you authorize us to execute any order for your Albert Investing Account on any exchange or market. Placing an order with us does not guarantee that it can be executed, and we are not responsible if an order cannot be executed according to your instructions. We are not responsible for unexecuted orders due to communication failures.
Order Cancellation and Modification
Once you have placed an order there is no guarantee that we will honor a subsequent request to cancel or modify that order. We are not liable to you if we do not cancel or modify an order placed by you or on your behalf.
Investors should consider the investment objectives, risks, and charges and expenses of an Exchange Traded Fund (“ETF”) carefully before investing. Before investing in any ETF, you should consider its investment objective, risks, charges and expenses. Contact us at the e-mail address indicated under the “Contact Information” section for a prospectus, offering circular or, if available, a summary prospectus containing this information. Read it carefully. ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund. Investment returns will fluctuate and are subject to market volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. ETFs are subject to risks similar to those of stocks. Some specialized exchange-traded funds can be subject to additional market risks. Leveraged and inverse exchange traded products are not designed for buy and hold investors or investors who do not intend to manage their investment on a daily basis. These products are for sophisticated investors who understand their risks (including the effect of daily compounding of leveraged investment results), and who intend to actively monitor and manage their investments on a daily basis. Exchange Traded Notes (“ETNs”) are complex products subject to significant risks and may not be suitable for all investors. ETNs are unsecured, unsubordinated debt obligations of the company that issues them and have no principal protection. Although an ETN's performance is contractually tied to the market index it is designed to track, ETNs do not hold any assets. Therefore, unlike investors in ETFs, which hold assets that could be liquidated in the event of a failure of the ETF issuer, ETN investors would only have an unsecured claim for payment against the ETN issuer in the event of issuer's failure. Before investing, carefully consider the creditworthiness of the ETN issuer and the ETNs investment objectives, risks, fees and charges.
Requirements for Large Traders
The Securities and Exchange Commission (SEC) has adopted Rule 13h-1 requiring individuals and entities whose aggregate transactions in listed securities (exchange-listed equity securities, ETFs and standardized options) equal or exceed 2 million shares or $20 million in fair market value during any calendar day, or 20 million shares or $200 million in fair market value during any calendar month, known as the "identifying activity level", to file Form 13H registering them as Large Traders. A Large Trader Identification Number (LTID) will be assigned by the SEC that they must disclose to their broker-dealers and identify the accounts to which it should apply.
Important: Individuals or entities must monitor their own trading activity to determine whether it equals or exceeds the identifying activity level in aggregate, and then disclose their Large Trader status to both the SEC (by filing Form 13H) and their broker-dealers (by providing them their LTID). If we realize your account has reached the Large Trader threshold, you will be notified and must proceed with filing a Form 13H and inform us of your LTID once assigned by the SEC.
For additional information on the Large Trader Reporting requirement, please visit the SEC's website at http://www.sec.gov/divisions/marketreg/large-trader-faqs.htm, or FINRA's website at https://www.finra.org/filing-reporting/electronic-blue-sheets-ebs
A fiduciary is a person or entity authorized to make decisions with respect to an Albert Investing Account on behalf of its beneficial owners. Fiduciaries include trustees, custodians under the Uniform Transfers to Minors Act and Uniform Gifts to Minors Act, conservators, guardians, executors, administrators, attorneys-in-fact and investment advisors, along with any other individual or entity who has discretion or trading authority with respect to an Albert Investing Account. We are not responsible for determining anyone’s legal status or capacity to serve as a fiduciary. We do not review the actions or inactions of fiduciaries acting on your behalf. We are not liable for any claims, expenses or losses relating to the action or inaction of your fiduciaries.
You authorize us to report any dividends paid or sales proceeds in your Albert Investing Account to the Internal Revenue Service in accordance with applicable law.
Event of Death
Your executor, guardian, attorney-in-fact or other person authorized to act on behalf of your estate must immediately notify us of your death in writing. Upon receipt of such notification, open orders in your Albert Investing Account will be cancelled, and we will take whatever actions it deems advisable to protect ourselves against liabilities, claims, expenses or losses arising from your death. If a joint Albert Investing Account holder dies, the surviving Albert Investing Account holder(s) must immediately provide us with written notice. The surviving account holder(s) will become the owner(s) of the Albert Investing Account and will continue to be subject to these Terms.
Payment of Albert Investing Account Obligations
You have a duty to us to pay for all trades, debit balances, margin calls or other obligations owing in your Albert Investing Account, and must pay any Albert Investing Account balance owed to us on demand. You have a duty to pay all applicable fees, commissions, taxes and other charges, including late fees that apply to the Services we provide to you. The fees, commissions, taxes and other charges associated with your Albert Investing Account may change without notice, and you will be bound by such changes. If your Albert Investing Account carries a negative balance, you must pay a reasonable rate of interest determined by us on the principal amount. If you fail to make a payment on time, you must pay a reasonable late fee determined by us.
All securities, assets and other property which are held in your Albert Investing Account are subject to a lien in our favor for the payment of all trades, debit balances, margin calls or other obligations arising in connection with your Albert Investing Account or any other account you have with us. You grant us your express legal authority to use, liquidate and/or transfer any and all securities, assets or other property in your Albert Investing Account as needed to satisfy any indebtedness arising in connection with your Albert Investing Account or any other account you have with us, to the extent permitted by law.
If your Albert Investing Account is subject to an attachment or sequestration order in a legal proceeding, you authorize us, without challenging or contesting the validity of the attachment or sequestration order, to refuse any order or instruction that you provide with respect to your Albert Investing Account. You further authorize us to deliver any documents or information related to your Albert Investing Account to any regulatory authority or as required by any legal request, obligation or subpoena, without contesting the validity of that request, obligation or subpoena, and without providing any notice to you.
You agree to not make any misrepresentations with respect to your Albert Investing Account or the Services provided by us. You agree to not engage in freeriding, which includes purchasing securities using the proceeds of invalid deposits or selling positions that were purchased with unsettled funds.
Good Faith Violation Disclosure
The prohibited practice of “freeriding” involves making securities purchases using the proceeds of sales of securities that were purchased with unsettled funds. Your account will be charged with a Good Faith Violation if you purchase a security in a cash Albert Investing Account and sell that security to purchase another security using unsettled funds. Three (3) Good Faith Violations in any twelve (12) month rolling period will result in your account being restricted to “Funds in Advance” of trading for a period of ninety (90) days. If your account trades through a 90-day restriction, any resulting loss in the account will be your responsibility and your account may be coded for “no more business”.
Complaints related to your Albert Investing Account should be directed to firstname.lastname@example.org.
FINRA BrokerCheck Program
FINRA BrokerCheck, formally known as the FINRA’s Public Disclosure Program, allows investors to learn about the professional background, business practices, and conduct of FINRA member firms or their brokers. The telephone number of the FINRA BrokerCheck is 800-289-9999, the website address www.FINRA.org. An investor brochure is also available upon request. Check the background of this firm on FINRA's BrokerCheck: (https://brokercheck.finra.org/).
Albert Insurance Services
Albert Insurance Services, LLC (“AIS”) is a wholly owned subsidiary of Albert that provides insurance quotes and products. All insurance quotes and products provided throughout the Services are offered through AIS, which holds a resident insurance license in California (license number: 0L55001) and non-resident licenses in additional states.
As part of the Services, premium rates quoted are provided through AIS’s insurance partner agencies, brokers, and/or insurance carriers. The premium rates and recommended coverage amounts displayed are for quoting purposes only and are made for general and informational purposes. AIS does not underwrite any insurance policy described on the App or quoted by our insurance partners.
While AIS works hard to show recommendations that fit your financial situation, any recommendation by AIS of coverages, amounts, rates, limits, terms or services is based solely on the information provided by you in the App. AIS is not responsible for any quotes provided as a result of inaccurate, incomplete, false, or fraudulent information provided by you. Please note that AIS does not make any warranties or representations regarding the quotes, terms, rates, coverage or services offered or made available by using this App. In addition, AIS does not guarantee that quotes, terms, rate, coverage or services offered on the App are the best available. Any quotes displayed are non-binding, and final policy premium for any policy is determined by the underwriting insurance carrier selected by you. All policies applied for through the App are subject to submission of a final application to, and acceptance by, the insurance carrier selected by you. AIS may receive compensation for placement of your insurance from its insurance partners.
Albert offers various referral programs including but not limited to a program that may provide a cash bonus to you and your friend if you refer someone who signs up for Albert and receives a qualifying direct deposit to their Albert Cash Account and spends a qualifying amount using their Card. The cash bonus amount and specific terms may vary depending on the referral program. Please refer to the App or Site for additional details regarding a referral program.
Albert offers qualified users the ability to access “Albert Instant,” a service that provides a cash advance at no additional charge if made within three (3) business days following the request, or for a one-time non-refundable fee if made on the same day of the request.
To be eligible for Albert Instant, you must meet certain minimum qualifications, which are identified when you request access to Albert Instant, and which are also available in the App and the Site. To apply for Albert Instant, you’ll set up an Albert Cash Account and a 30-day trial for Albert Genius as part of the sign-up process. You can cancel your Albert Genius subscription at any time. If you cancel the subscription within 30 days of signing up, you will not be charged for your Albert Genius subscription. Please note that if you cancel your Albert Genius subscription, you will still have access to Albert Instant if you otherwise qualify. Anyone with an Albert Account can apply to advance cash through Instant regardless of whether or not they have an active Albert Genius subscription. Your Albert Genius subscription status has no impact on determining your Instant eligibility, the size of your Instant advance or any fees related to Instant.
When you request access to use Albert Instant, you give Albert permission to review your Bank Account and Albert Cash Account transactions to ensure you meet these minimum requirements and any other requirements Albert may deem necessary to qualify for Albert Instant. When you request a same-day Albert Instant, you give Albert permission to initiate an account authorization transaction to verify that the debit card information you provide is associated with the Bank Account or Albert Cash Account you selected to receive Albert Instant.
When you use Albert Instant, you also give Albert permission to initiate a withdrawal from your Bank Account or Albert Cash Account, as applicable, for the amount of the Albert Instant plus any applicable fees when we detect that you have received your next paycheck. Albert may initiate the withdrawal via ACH or by charging the debit card associated with your Albert Instant profile. If you have insufficient funds to repay Albert, you also authorize Albert to debit the full repayment or small amounts from any other Bank Account you linked to Albert, or any Albert accounts, to pay for your Albert Instant.
You further authorize Albert to initiate credit and debit entries to correct any erroneous credits or debits to any bank accounts used for your Albert Instant.
Because Albert Instant transfers are initiated immediately, you cannot cancel your Albert Instant once you confirm the advance. If you need help regarding your Albert Instant or have questions about repayment, please text Genius.
We offer Albert Instant on a non-recourse basis. Consequently, we warrant to you that we have no contractual or legal claim against you for an Albert Instant, and we will not engage in debt collection activities, place the amount advanced with or sell to a third party, or make any reports to credit reporting agencies regarding your Albert Instant. However, we reserve the right to deny you access to Albert Instant if you (i) do not meet the qualification requirements, (ii) request an excessive number of Albert Instants in succession, or (iii) do not repay the full balance of an Albert Instant.
While Albert does not charge Overdraft Fees, your Bank Account may. We are not responsible for ensuring your Bank Account has sufficient funds for your needs, purposes, or transactions and we cannot guarantee that repayment of an Albert Instant will not cause or trigger Overdraft Fees in your Bank Account. Notwithstanding the above, for certain Overdraft Fees we do provide a reimbursement. Please refer to our Overdraft and Non-Sufficient Fund Fee Reimbursement Policy for additional information on eligibility for reimbursement covering overdraft or insufficient funds fee charges.
Albert offers a debit card and account program that we call the “Albert Cash Account.” When you join Albert, you will set up an Albert Cash Account and a 30-day trial for Albert Genius as part of the sign-up process. You can cancel your Albert Genius subscription at any time. If you cancel your Albert Genius subscription within 30 days of signing up, you will not be charged for your subscription. Please note that if you cancel your Albert Genius subscription, you will lose certain Albert Cash benefits associated with your subscription such as free ATM withdrawals and Rewards (as defined below). However, you will still have access to your Albert Cash Account, be able to receive direct deposits, and spend with your Card.
The banking services associated with the Albert Cash Account are provided by Sutton Bank, Member FDIC and are provided through Albert Cash, LLC, a wholly owned subsidiary of Albert. The Albert Cash Account allows you to send and receive money via ACH, receive direct payments made to you by your employer, transfer funds into your Albert Investing or Savings account, and use your Card to make purchases as further described below. Additional features such as early access to your paycheck and check deposit are further described in the App and on the Site.
Cardholder Agreement and FDIC Insurance
To create an Albert Cash Account, you must enter into the applicable cardholder or other account agreement with Sutton Bank (“Cardholder Agreement”). The Cardholder Agreement is between you and Sutton Bank, not Albert. The Cardholder Agreement, together with these Terms and applicable federal and state laws and regulations, collectively govern your use of your Albert Cash Account. If there is any inconsistency between these Terms and the Cardholder Agreement, the Cardholder Agreement will control.
The funds in your Albert Cash Account are held at Sutton Bank and are FDIC-insured up to $250,000, subject to the FDIC’s rules concerning deposit insurance. Albert is not a bank and Albert has no ownership of the funds in your Albert Cash Account. Banking services associated with the Albert Cash Account are provided by Sutton Bank, Member FDIC.
By using the Albert Cash Account, you acknowledge and agree that your Albert Cash funds may be placed in one or more pooled accounts, and you will not receive interest from these funds. However, Albert may receive interest on Albert Cash funds held in these pooled accounts, and you irrevocably transfer and assign to Albert all rights that you may have to interest that may accrue on these funds.
For security purposes and to help protect against possible fraudulent and other illegal activity, Albert may limit the balance of your Albert Cash Account and the total number and amount of transactions in a given period (e.g., per day, per month, etc.). We may also delay or suspend your Albert Cash Account transactions to investigate unusual activity, and we may ask you to verify information associated with your Albert Cash Account or the transactions you initiate or receive to help combat fraud and other illegal activity.
The Albert Cash Card
Your Albert Cash Account is accessible through the App and comes with a virtual and physical payment card (“Card”) issued by Sutton Bank pursuant to a license by Mastercard® International Incorporated (“Mastercard”). Your Card can be used to make purchases anywhere Mastercard is accepted using the amount available in your Albert Cash Account. Your virtual Card will automatically be activated and ready to use once your Albert Cash Account is successfully created. To use your physical Card for in-person transactions, you must first activate the Card in the App and create a personal identification number (“PIN”). You can reset your PIN any time in the App.
You have the ability to freeze your Card in the App at any time if your physical Card has been lost or stolen or you otherwise suspect that your Card information has been disclosed without your knowledge or consent. Once you freeze your Card, Card transactions will be declined, but any transactions that are pending at the time your Card is frozen will continue to be processed. You can unfreeze your Card or order a replacement Card in the App any time. Albert is not responsible if your Card is stolen or used without your permission.
You can send payments to businesses and individuals by check through your Albert Cash Account. To send a check, you will need to provide the name and mailing address of each business or individual recipient you wish to send a check payment to, as well as any other information requested through the App or Site. You are responsible for verifying the accuracy of all information you provide to us for sending a check on your behalf. Checks will only be sent to mailing addresses located in the United States. There are no fees for sending checks through your Albert Cash Account, but there are limits on the amount per check and total amount you can send by check in a given period. You can view these limits and the minimum qualifications in the App or on the Site.
A check will only clear when there are available funds in your Albert Cash Account to cover the full amount of the check. If there are insufficient funds in your account to cover the check amount, the check will be returned unpaid. A check that was not deposited by the business or individual to whom the check was issued will be voided after 180 days. The full amount of the uncashed check will be credited back to your Albert Cash Account within 1-3 business days. We reserve the right to refuse to process a check payment to any business or individual if we have a good faith belief that doing so is reasonably necessary to prevent fraud or other illegal activity.
Checks will be sent on the business day following the date we process your request using standard U.S. Postal Service mail. Once you have initiated a request to send a check, we cannot prevent the check from being processed or the amount of the check from being deducted from your Albert Cash Account. Albert will not be liable for any loss or damage resulting from the inability to stop payment of a check.
Sending a check payment to government entities (such as tax payments) or making payments under a court order are initiated at your own risk. Albert will not be liable for any claims, losses or damages resulting from your initiation of such payments or have any obligation to investigate or resolve any claims that may arise. You will be solely responsible for resolving any misapplied, mis-posted or misdirected check payments sent to government entities or pursuant to a court order.
You can electronically deposit paper checks into your Albert Cash Account from your mobile device by taking a legible picture of both the front and back of your paper checks and submitting the check images for deposit in the App. The image quality must meet the requirements established from time to time by the applicable regulatory agency or clearing house, including the Board of Governors of the Federal Reserve Board.
There are no fees for depositing checks through your Albert Cash Account, but there are certain restrictions and requirements. You can view the restrictions and requirements in the App or on the Site.
Availability of funds from a deposited check may vary but such funds will generally be available for use within five (5) to seven (7) business days from the business day it is received for processing. Check images received for processing after 4:00 p.m. Pacific Time will be considered received the following business day. We are not responsible for check images we did not receive or for check images that are dropped during transmission. We reserve the right to reject any check for deposit at our sole discretion. Fund availability and processing times are subject to change at any time and may be delayed at Sutton Bank's or Albert’s sole discretion.
If you deposit a check and (i) the paying bank returns the check as unpaid; (ii) the paying bank requests repayment because the check has been altered, forged, unauthorized, is missing a signature or endorsement, or has a forged endorsement; or (iii) the sending bank or partner bank demands that we return the item because it was unauthorized, sent to the wrong account number or procured by fraud, we may pay the return demand and subtract the funds from your Albert Cash Account.
Unlike the traditional way of depositing a check at a physical location, you will retain the original paper check. You must sign each check and include the restrictive notation, “For Mobile Deposit at Albert Only” on the endorsement section of the check. After submitting the check for deposit in the App, you agree to retain the original paper check in a safe location for thirty (30) days in the event there are any issues with processing any check images. Once you receive confirmation that your check has been submitted, you agree to prominently mark the original check as “VOID.” After the thirty (30) days, you agree to destroy the original paper check.
You are prohibited from depositing the following: (i) checks payable to someone other than yourself; (ii) checks not payable in U.S. dollars; (iii) checks that are over six (6) months old; (iv) checks payable on a future date; (v) checks that have been previously deposited at another financial institution; (vi) checks containing alterations; (vii) checks that are fraudulent; (viii) checks that have been returned for any reason; or (ix) cashier’s checks, substitute checks, or money orders.
You represent and warrant that: (i) you have good title to each check that you submit for deposit; (ii) the original check has not previously been deposited with any other financial institution; (iii) you have no knowledge or information to indicate that the check or deposit submission is fraudulent; (iv) you will immediately notify us in the event you suspect there are any errors with your check deposit.
Your Albert Cash Account number and bank routing number may be used to preauthorize initiating direct deposits into your Albert Cash Account. Direct deposit is available to Albert Cash Account users who currently receive direct deposit payments from their employer. Any direct deposit payment received in a name other than the name registered to the Albert Cash Account will be returned to the originator. To set up direct deposit, you will need to follow the instructions provided for in the App.
You can earn rewards with your Albert Cash Account (“Rewards”) by making qualifying purchases with your Card and subscribing to Albert Genius. For the current list of participating merchants and offer terms, please check the App. Participating merchants and offer terms may be changed from time to time without notice. Rewards will be paid out to your Albert Cash Account balance. If you return, chargeback, cancel, dispute, or otherwise request a refund for a qualifying purchase for which you have already received Rewards, we reserve the right to remove any related Rewards amount from your Albert Account balance or withhold future Rewards to cover any such amount.
You may be eligible to earn a cash bonus in your Albert Cash Account by setting up a qualifying direct deposit and spending a qualifying amount using your Card (“Bonus Program”). Albert may end the Bonus Program or change its terms at any time or from time to time at its sole discretion. For additional details and current eligibility criteria please see the App or Site.
World Debit Mastercard Benefits
As an Albert Cash Account cardholder, you are eligible for additional benefits offered by Mastercard through the World Debit Mastercard program. These benefits can be found in the Mastercard Guide to Benefits.
Truth-in Savings Disclosure
There is no minimum opening deposit requirement to open an Albert Cash Account and no fees charged by Albert to maintain an Albert Cash Account. For additional information, please see the Cardholder Agreement.
Account Suspension, Holds, and Termination
Albert and/or one of our partner banks may suspend, restrict, block, freeze, remit or transfer funds from or close any of your accounts with us for any reason with or without notice in our sole discretion, including, without limitation, for suspected fraud, illegal activity, violation of any law, rule, regulation, these Terms or the Cardholder Agreement, in response to a subpoena, court order, governmental order or other similar reason, without being liable to you.
If our monitoring of any of your accounts detects any such activity, the funds in any of your accounts or transaction(s) may be subject to a hold pending review of the activity. Albert may require you to produce documents and/or other materials evidencing the validity of the activity or to verify your identity. Funds in any of your accounts with us are subject to hold at Albert’s and/or one of our partner bank’s discretion until the source of such funds and/or activity is properly verified.
If we do freeze your account, we will provide notice to you as soon as reasonably possible. Notice may be made by e-mail or by other means such as via text alerts, in App or other means determined by Albert in our sole discretion and as permitted by applicable law or by updated balance information. We may not provide this notice to you prior to freezing the account or delaying transactions if we believe that such notice could result in a security risk to us or to the owner of the funds in the account. Neither Albert nor our partner banks will be liable for any costs or fees incurred by the delay.
Other Items to Note
Transferring funds between the Services as well as any of your connected Bank Accounts may involve a transfer to your Albert Cash Account before the transfer is complete. For example, a transfer from your Albert Savings Account to your Albert Investing Account may involve an intermediary transfer to your Albert Cash Account before the funds are ultimately transferred to your Albert Investing Account. Albert may limit the number of fund transfers between Services in our sole discretion.
We charge a monthly or yearly fee (the “Subscription Fee”) for Albert Genius. We may also charge for other Albert Genius services you choose to access including personal finance virtual workshops and personalized coaching sessions (“Genius Live”). Albert Genius gives you access to our financial advisors over text message, identifies funds in your Bank Account and Albert Cash Account that may be put towards your savings multiple times per week, allows you to earn Rewards, make free in-network ATM withdrawals, and allows you to apply for an Albert Investing Account. In addition, Albert Genius gives you access to our financial advisors through Genius Live. The current amount of the Subscription Fee is disclosed in the App. We may debit the Subscription Fee on a monthly or annual basis from your Bank Account pursuant to your ACH and real-time payment option authorization provided above. When paid monthly, the Subscription Fee is non-refundable, except as otherwise required by applicable law. We may change the amount, frequency, and debit date of the Subscription Fee from time to time in our sole discretion. We will notify you in advance of any change to the Subscription Fee by sending you an e-mail, by posting a notice on the Website and the Application, and/or by any other method permitted by applicable law. By accessing or using the Services after any change to the Subscription Fee takes effect, you agree to pay the Subscription Fee, as may be modified.
Genius debit authorization
You authorize Albert to debit your primary bank account on or after your due date for the Albert Genius subscription (“Subscription Payment”) until you cancel your subscription or close your Albert account. If your primary bank account has insufficient funds to pay for your Subscription Payment, you also authorize Albert to debit any other bank accounts you linked to Albert, or any Albert accounts, to pay for your Subscription Payment. You further authorize Albert to initiate credit and debit entries to correct any erroneous credits or debits to any bank accounts used for your Subscription Payment. You can view your funding sources in the app on Profile → Genius.
Your Albert Genius subscription will automatically continue unless you cancel your subscription by following the cancellation instructions below. For a monthly subscription, Albert will attempt to charge you 30 days after you subscribe and 30 days after each most recent payment. If your primary funding source has insufficient funds, your other funding sources may be charged as backup methods for your subscription payments. For an annual subscription, Albert will attempt to charge you 30 days after you subscribe and each subsequent year thereafter. In addition, for an annual subscription, Albert may adjust your subscription to monthly if your Subscription Payment is unsuccessful.
You may cancel your subscription at any time by texting Genius at 639-37, by e-mailing email@example.com or by going to Profile > Help > Contact Support in the App. You must cancel your subscription at least three (3) business days before the scheduled date of your Subscription Payment. If you cancel within 30 days of subscribing you will not be charged. For annual subscriptions, you will receive a prorated refund if you cancel after we have processed your payment. Please note that if you cancel your annual subscription, you are not entitled to keep the bonus you received when you enabled your subscription. Albert may cancel or suspend any subscription you have purchased if you fail to pay the applicable Subscription Payment on time. Access to Albert Cash, Albert Savings and Albert Instant is not contingent on your continuing subscription to Albert Genius. If you cancel, you will lose certain benefits associated with your subscription, including free in-network ATM withdrawals, Rewards, Investing and access to Albert financial experts and other premium features.
If your subscription is adjusted to monthly, you will not be eligible to keep your annual subscription bonus. Even if you cancel, you can continue to access Albert Cash, Albert Savings and Albert Instant.
Power of Attorney
By creating an Albert Account and using the Services, you automatically authorize us (or our third-party service providers) to obtain, without any time limit or the requirement to pay any fees, information about you and your Bank Account from the financial institution holding your Bank Account and other third-party websites and databases (your “Financial Information”) as necessary to provide the Services to you. For the purposes of these Terms and solely to provide the Financial Information to you as part of the Services, you grant Albert a limited power of attorney, and appoint Albert as your attorney-in-fact and agent, to access third-party services, retrieve and use your Financial Information with the full power and authority to do and perform each thing necessary in connection with such activities, as you could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN ALBERT IS ACCESSING AND RETRIEVING FINANCIAL INFORMATION FROM THIRD-PARTY SERVICES, ALBERT IS ACTING AS YOUR AGENT, AND NOT AS THE AGENT OF OR ON BEHALF OF THE THIRD PARTY THAT OPERATES THE THIRD-PARTY SERVICE.
You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. For Bank Accounts, we make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement. As between Albert and our third-party service providers, Albert owns your Financial Information.
Notifications and Verification
In order to use the Services, you must provide and verify your cellular phone number or other text message address to us, and you must expressly consent to receive text messages relating to the Services at that number or address. Third-party data and message fees may apply. To verify your cellular phone number or text message address, we may send you a code via text message to the cellular phone number or text message address you provide, and you must enter that code as instructed by us. If you change your cellular phone number or text message address, you must promptly provide and verify your new cellular phone number or text message address. You can do this in the Personal Information section of your Albert Account via the App.
As part of your use of the Services, you may receive notifications, alerts, or e-mails about the Services. By providing your cellular phone number, you may receive SMS messages relating to your use of the Services. We will not send you promotional or marketing SMS messages without obtaining your separate, written consent, which is not required for you to use the Services. You agree to the receipt of these communications. To control receipt of these communications, text HELP for help or text STOP to cancel. You are responsible for any messaging or data fees you may be charged by your wireless carrier for receiving SMS notifications. Carriers are not liable for delayed or undelivered messages.
Offers for Financial Products
We will use your Financial Information to generate offers for financial products and services from our marketing partners that may be of interest to you. It is always your choice whether or not to apply for an offered product or service and we will never submit an application for a financial product or service on your behalf without your express consent. We may receive compensation from our marketing partners for promoting their products and services through our Services.
The technology we use to provide you with offers for financial products and services is proprietary and, in finding those offers for you, we may elect to consider, ignore, emphasize, or de-emphasize relevant factors in our sole discretion. We do not guarantee that you will be presented with offers for any particular types of products or services or that you will meet the approval criteria for any particular offer.
We welcome feedback, comments and suggestions for improvements to the Services (“Feedback”). You grant to us a non-exclusive, worldwide, perpetual, irrevocable, fully-paid, royalty-free, sublicensable and transferable license under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon and otherwise exploit the Feedback for any purpose. If we elect to use Feedback for marketing or advertising purposes, you acknowledge and agree that we may do so in any media format now known or hereafter developed without requiring your pre-approval and you are not entitled to any compensation for such use.
Content and Content Rights
For purposes of these Terms: (i) “Content” means text, graphics, images, music, software, audio, video, works of authorship of any kind, and information or other materials that are posted, generated, provided or otherwise made available through the Services; and (ii) “User Content” means any Content that Account holders (including you) provide to be made available through the Services. Content includes without limitation User Content. User Content does not include Financial Information.
Content Ownership, Responsibility and Removal
Albert does not claim any ownership rights in any User Content and nothing in these Terms will be deemed to restrict any rights that you may have to use and exploit your User Content. Subject to the foregoing, Albert and its licensors exclusively own all right, title and interest in and to the Services and Content, including all associated intellectual property rights. You acknowledge that the Services and Content are protected by copyright, trademark, and other laws of the United States and foreign countries. You agree not to remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Services or Content.
Rights in User Content Granted by You
By making any User Content available through Services you hereby grant to Albert a non-exclusive, transferable, sublicensable, worldwide, royalty-free license to use, copy, modify, create derivative works based upon, distribute, publicly display, publicly perform and distribute your User Content in connection with operating and providing the Services and Content to you and to other Account holders.
You are solely responsible for all your User Content. You represent and warrant that you own all your User Content or you have all rights that are necessary to grant us the license rights in your User Content under these Terms. You also represent and warrant that neither your User Content, nor your use and provision of your User Content to be made available through the Services, nor any use of your User Content by Albert on or through the Services will infringe, misappropriate or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation.
You can remove your User Content by specifically deleting it. However, in certain instances, some of your User Content (such as posts or comments you make) may not be completely removed and copies of your User Content may continue to exist on the Services. We are not responsible or liable for the removal or deletion of (or the failure to remove or delete) any of your User Content.
Rights in Content Granted by Albert
Subject to your compliance with these Terms, Albert grants you a limited, non-exclusive, non-transferable, non-sublicensable license to download, view, copy, display and print the Content solely in connection with your permitted use of the Services and solely for your personal and non-commercial purposes.
Rights and Terms for Apps
Rights in App Granted by Albert
Subject to your compliance with these Terms, Albert grants you a limited non-exclusive, non-transferable, non-sublicensable license to download and install a copy of the App on a mobile device or computer that you own or control and to run such copy of the App solely for your own personal non-commercial purposes. You may not copy the App, except for making a reasonable number of copies for backup or archival purposes. Except as expressly permitted in these Terms, you may not: (i) copy, modify or create derivative works based on the App; (ii) distribute, transfer, sublicense, lease, lend or rent the App to any third party; (iii) reverse engineer, decompile or disassemble the App; or (iv) make the functionality of the App available to multiple users through any means. Albert reserves all rights in and to the App not expressly granted to you under these Terms.
General Prohibitions and Albert’s Enforcement Rights
You agree not to do any of the following:
- Post, upload, publish, submit or transmit any Content that: (i) infringes, misappropriates or violates a third party’s patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (ii) violates, or encourages any conduct that would violate, any applicable law or regulation or would give rise to civil liability; (iii) is fraudulent, false, misleading or deceptive; (iv) is defamatory, obscene, pornographic, vulgar or offensive; (v) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (vi) is violent or threatening or promotes violence or actions that are threatening to any person or entity; or (vii) promotes illegal or harmful activities or substances.
- Use, display, mirror or frame the Services or any individual element within the Services, Albert’s name, any Albert trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page, without Albert’s express written consent;
- Access, tamper with, or use non-public areas of the Services, Albert’s computer systems, or the technical delivery systems of Albert’s providers; Attempt to probe, scan or test the vulnerability of any Albert system or network or breach any security or authentication measures;
- Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by Albert or any of Albert’s providers or any other third party (including another user) to protect the Services or Content;
- Attempt to access or search the Services or Content or download Content from the Services through the use of any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers, data mining tools or the like) other than the software and/or search agents provided by Albert or other generally available third-party web browsers;
- Send any unsolicited or unauthorized advertising, promotional materials, e-mail, junk mail, spam, chain letters or other form of solicitation; Use any meta tags or other hidden text or metadata utilizing an Albert trademark, logo URL or product name without Albert’s express written consent; Use the Services or Content, or any portion thereof, for any commercial purpose or for the benefit of any third party or in any manner not permitted by these Terms;
- Forge any TCP/IP packet header or any part of the header information in any e-mail or newsgroup posting, or in any way use the Services or Content to send altered, deceptive or false source-identifying information;
- Attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Services or Content; Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
- Collect or store any personally identifiable information from the Services from other users of the Services without their express permission; Impersonate or misrepresent your affiliation with any person or entity;
- Violate any applicable law or regulation or willingly violate, or attempt to violate, the terms of any program offered by Albert or Albert’s partners; or
- Encourage or enable any other individual to do any of the foregoing.
Although we’re not obligated to monitor access to or use of the Services or Content or to review or edit any Content, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms, and to comply with applicable law or other legal requirements. We reserve the right, but are not obligated, to remove or disable access to any Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider any Content to be objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law.
Links to Third-Party Websites or Resources
We may terminate your access to and use of the Services, at our sole discretion, at any time and without notice to you. You may cancel your Account at any time by contacting us via the “Contact Support” link in the App or by e-mailing firstname.lastname@example.org. Once you cancel your Albert Genius subscription, you will no longer have access to Albert Genius. Please note there may be instances in which we are unable to completely deactivate your Account. For example, it is our general policy to not deactivate your Account in the event you still have funds in your Account and have not taken the required steps to properly close your account and process the return of your funds. Upon any termination, discontinuation or cancellation of the Services or your Account, the following provisions of these Terms will survive: “Your Authorization for ACH Debits and Credits” (pursuant to the terms set forth in that section, above), “Feedback”, “Content and Content Rights”, “Content Ownership, Responsibility and Removal”, “Termination”, “Limitation of Liability”, “Dispute Resolution” and “General Terms”.
THE SERVICES AND CONTENT ARE PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, WE EXPLICITLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT OR NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness or reliability of any Content. We make no warranty that your participation in or use of the Services will not result in you being charged Overdraft Fees.
USE OF THE SERVICES, THE CONTENT AND ANY INFORMATION OBTAINED THROUGH YOUR USE OF THE SERVICES IS AT YOUR OWN RISK. THE INFORMATION PROVIDED THROUGH THE SERVICES IS PROVIDED SOLELY FOR INFORMATIONAL PURPOSES. ALBERT AND THE SERVICES ARE NOT ENDORSED BY OR AFFILIATED WITH THE FEDERAL DEPOSIT INSURANCE CORPORATION OR FINRA, AND ALBERT IS NOT A BANK, CREDIT UNION OR OTHER DEPOSITORY INSTITUTION. THE BANKING SERVICES ASSOCIATED WITH YOUR ALBERT CASH ACCOUNT ARE PROVIDED BY SUTTON BANK, MEMBER FDIC. ALBERT SAVINGS ACCOUNTS ARE HELD FOR YOUR BENEFIT AT FDIC-INSURED BANKS, INCLUDING COASTAL COMMUNITY BANK, AXOS BANK, AND WELLS FARGO, N.A. ALBERT MAKES NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING THE RESULTS OR SAVINGS THAT MAY BE OBTAINED THROUGH THE USE OF THE SERVICES. BEFORE MAKING ANY FINANCIAL DECISIONS OR IMPLEMENTING ANY FINANCIAL STRATEGY, INCLUDING RECOMMENDATIONS OF THIRD PARTIES IDENTIFIED THROUGH THE SERVICES, ALBERT RECOMMENDS THAT YOU OBTAIN ADDITIONAL INFORMATION AND ADVICE OF ACCOUNTANTS OR OTHER FINANCIAL ADVISORS WHO ARE FULLY AWARE OF YOUR INDIVIDUAL CIRCUMSTANCES.
YOU ACKNOWLEDGE THAT ALBERT IS SOLELY AN INTERMEDIARY BETWEEN YOU AND OUR MARKETING PARTNERS FOR WHOM WE DISPLAY OFFERS FOR FINANCIAL PRODUCTS AND SERVICES. ALBERT MAKES NO WARRANTY THAT THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICES WILL MEET YOUR EXPECTATIONS. ALBERT EXPRESSLY DISCLAIMS ANY LIABILITY FOR ANY ERRORS OR OMISSIONS IN THE CONTENT OR THE SERVICES, INCLUDING, WITHOUT LIMITATION, THE INACCURACY OR INCOMPLETENESS OF ANY SAVINGS ESTIMATES, APPROVAL ODDS, OR RELATED INFORMATION, AVAILABLE THROUGH THE SERVICES OR THE CONTENT; OR THE AVAILABILITY OR LEGALITY OF ANY OF THE OFFERS FROM OUR MARKETING PARTNERS.
You will indemnify and hold harmless Albert and its officers, directors, employee and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services or Content, (ii) your User Content, or (iii) your violation of these Terms.
Limitation of Liability
NEITHER ALBERT NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES OR CONTENT WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT ALBERT HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
IN NO EVENT WILL ALBERT’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT EXCEED ONE HUNDRED DOLLARS ($100).
THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN ALBERT AND YOU.
Dispute Resolution by Binding Arbitration
YOU HAVE READ THIS SECTION CAREFULLY AND UNDERSTAND THAT IT LIMITS YOUR RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND ALBERT. YOU UNDERSTAND THAT YOU HAVE THE RIGHT TO REJECT THIS PROVISION AS PROVIDED IN THE SECTION ENTITLED "OPT OUT OF ARBITRATION" BELOW.
These Terms and any action related thereto will be governed by the laws of the State of California without regard to its conflict of laws provisions.
Initial Dispute Resolution
Before submitting a claim for arbitration in accordance with this arbitration provision, you and we agree to try, for 60 days, to resolve any Dispute (as defined below) informally. Any party wishing to bring a claim agrees to provide a notice of the Dispute to the other party, which shall include the sender’s name, address and contact information, the facts giving rise to the Dispute, and the relief requested. The notice shall be an individualized claim specific to the individual bringing the claim. Any notice to Albert shall be sent to email@example.com or regular mail at Attn: Albert Corp, 440 N Barranca Ave #3801 Covina, CA 91723. Any notice sent to you will be sent to the most recent e-mail address Albert has in its records for you. To minimize the cost and inconvenience to all parties, and to promote prompt resolution of Disputes, you and we agree that engaging in this initial dispute resolution process is a material term of these Terms and a requirement that must be fulfilled before commencing any arbitration. You and we agree to act in good faith to resolve the Dispute before commencing arbitration in accordance with this section.
You and we agree that arbitration (as well as any obligation to pay arbitration fees) shall be stayed until the initial dispute resolution process in this section is complete. You and we acknowledge that either party’s failure to comply with the provisions of this section would irreparably harm the other, and you and we agree that a court may issue an order staying arbitration (and any obligation to pay arbitration fees) until the initial dispute resolution process in this section is complete.
Agreement to Arbitrate
You and Albert agree that the sole and exclusive forum and remedy for resolution of a Dispute shall be final and binding arbitration pursuant to this section entitled “Dispute Resolution by Binding Arbitration” unless you opt out as provided below. “Dispute” shall include any dispute, claim or controversy arising out of or relating to these Terms and/or the activities or relationships that involve, lead to, or result from these Terms, including our marketing activities, and (except to the extent provided otherwise in the paragraph entitled “NO CLASS ACTIONS”) the validity or enforceability of this “Dispute Resolution by Binding Arbitration” section, any part thereof, or the entire Terms. Disputes will be settled by binding arbitration, except that each party retains the right: (i) to bring or require the other party to bring an individual action in small claims court (a “Small Claims Action”) as set forth in the Small Claims Action section below; (ii) to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation or violation of a party’s copyrights, trademarks, trade secrets, patents or other intellectual property rights (the action described in the foregoing clause (ii), an “IP Protection Action”); and (iii) to bring an action seeking only injunctive relief.
Small Claims Action
If either party contends that the amount of a claim in a Dispute is within the jurisdiction of the small claims court (or an equivalent court), it may instruct the arbitration administrator to administratively close the arbitration case, prior to payment of fees, and direct that the claim be filed, if at all, in small claims court. Upon such a request by a party, the arbitration provider shall administratively close the arbitration proceeding. Any dispute about whether a claim qualifies for small claims court shall be resolved by that court, not by an arbitrator. In the event of any such dispute, the arbitration proceeding shall remain closed unless and until a decision by the small claims court that the small claims court lacks jurisdiction over the action. Only in the event that the small claims court determines that it lacks jurisdiction over the Dispute may the arbitration provider reopen the arbitration case. You and we acknowledge that failure to comply with the provisions of this section would irreparably harm the party requesting administrative closure of the arbitration proceeding, and you and Albert agree that a court may issue an order staying the arbitrations (and any obligation to pay arbitration fees) until any disagreements over the provisions of this section are resolved by the court. You and we do not have to arbitrate a small claim that is filed in small claims court, but if that claim is transferred, removed, or appealed to a different court, you or we may elect to compel arbitration. Moreover, if you or we bring any counterclaim or cross-claim that is for more than the small claims court’s jurisdiction, you or we can elect to have the entire claim (including the counterclaim or cross-claim) resolved by arbitration.
Opt Out of Arbitration
You may opt out of the binding arbitration described in this section by sending Albert written notice of your desire to do so by e-mail at firstname.lastname@example.org or regular mail at Attn: Albert Corp, 440 N Barranca Ave #3801 Covina, CA 91723 within thirty (30) days following the date you first agree to these Terms (such notice, an “Arbitration Opt-out Notice”). If you don’t provide Albert with an Arbitration Opt-out Notice within the thirty (30) day period, you will be deemed to have knowingly and intentionally waived your right to litigate any Dispute except with regard to a Small Claims Action, IP Protection Action, or to bring an action seeking only injunctive relief, as expressly set forth above.
Judicial Forum for Disputes
In the event that (i) you or we bring an IP Protection Action; (ii) you timely provide Albert with an Arbitration Opt-out Notice; or (iii) this “Dispute Resolution by Binding Arbitration” section is found not to apply, the exclusive jurisdiction and venue of any Dispute will be the state and federal courts located in the Central District of California and each of the parties hereto waives any objection to jurisdiction and venue in such courts. You and we both further agree to waive our right to a jury trial.
WAIVER OF RIGHT TO LITIGATE
Unless you timely provide Albert with an Arbitration Opt-out Notice, YOU ACKNOWLEDGE AND AGREE THAT YOU AND ALBERT ARE EACH WAIVING THE RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY ANY PARTY.
Mass Action Waiver
The parties expressly waive the right to have any dispute, claim, or controversy brought, heard, administered, resolved, or arbitrated as a mass action, and neither an arbitrator nor an arbitration provider shall have any authority to hear, arbitrate, or administer any mass action or to award relief to anyone but the individual in arbitration. The parties also expressly waive the right to seek, recover, or obtain any non-individual relief. The parties agree that the definition of a “Mass Action” includes, but is not limited to, instances in which you or Albert are represented by a law firm or collection of law firms that has filed 50 or more arbitration demands of a substantially similar nature against the other party within 180 days of the arbitration demand filed on your or Albert’s behalf, and the law firm or collection of law firms seeks to simultaneously or collectively administer and/or arbitrate all the arbitration demands in the aggregate. Notwithstanding anything else in these Terms or this arbitration provision, this Mass Action Waiver does not prevent you or Albert from participating in a mass settlement of claims.
Notwithstanding any provision to the contrary in the applicable arbitration provider’s rules, the arbitrator shall be empowered to determine whether the party bringing any claim has filed a Mass Action in violation of the Mass Action Waiver. Either party shall raise with the arbitrator or arbitration provider such a dispute within 15 days of its arising. If such a dispute arises before an arbitrator has been appointed, the parties agree that (i) a panel of three (3) arbitrators shall be appointed to resolve only disputes concerning whether the party bringing any claim has filed a Mass Action in violation of the Mass Action Waiver. Each party shall select one arbitrator from the arbitration provider’s roster to serve as a neutral arbitrator, and these arbitrators shall appoint a third neutral arbitrator. If the parties’ arbitrators cannot agree on a third arbitrator, the arbitration provider will select the third arbitrator; (ii) Albert shall pay any administrative fees or costs incidental to the appointment of arbitrators under this provision, as well as any fees or costs that would not be incurred in a court proceeding, such as payment of the fees of the arbitrators, as well as room rental; (iii) the arbitrators shall issue a written decision with findings of fact and conclusions of law; and (iv) any further arbitration proceedings or assessment of arbitration-related fees shall be stayed pending the arbitrators’ resolution of the parties’ dispute. If the arbitrator or panel of arbitrators determines that you have violated the Mass Action Waiver, the parties shall have the opportunity to opt out of arbitration within 30 days of the arbitrator’s or panel of arbitrator’s decision. You may opt out of arbitration by providing written notice of your intention to opt out to the arbitration provider and to or hand delivery. This written notice must be signed by you, and not any attorney, agent, or other representative of yours. Albert may opt out of arbitration by sending written notice of its intention to opt out to the arbitration provider and to you or your attorney, agent, or representative if you are represented. For the avoidance of doubt, the ability to opt out of arbitration described in this section only applies if the arbitrator or panel of arbitrators determines that you have violated the Mass Action Waiver.
NO CLASS ACTIONS
NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS EVEN IF THE DISPUTE OR DISPUTES THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED (OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE ACTIONS IN A COURT. Unless consented to in writing by all parties to the arbitration, no party to the arbitration may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. Unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of such parties only, and only with respect to the claims in arbitration, and shall not (a) determine the rights, obligations, or interests of anyone other than all parties to the arbitration, or resolve any Dispute of anyone other than any such party; nor (b) make an award for the benefit of, or against, anyone other than any such party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this specific paragraph, and any attempt to do so, whether by rule, policy, arbitration decision or otherwise, shall be invalid and unenforceable. If this specific paragraph is held unenforceable in its entirety, then the entirety of this “Dispute Resolution by Binding Arbitration” section will be deemed void. Except as provided in the preceding sentence, this “Dispute Resolution by Binding Arbitration” section will survive any termination of these Terms.
The arbitration will be administered by the American Arbitration Association (“AAA”) in accordance with the Commercial Arbitration Rules and Mediation Procedures and the Supplementary Procedures for Consumer Arbitration Rules (the “AAA Rules”) then in effect, except as modified by this “Dispute Resolution by Binding Arbitration” section. In the case of a conflict between the rules and policies of the administrator and this “Dispute Resolution by Binding Arbitration” section, this “Dispute Resolution by Binding Arbitration” section shall control, subject to countervailing law, unless all parties to the arbitration consent to have the rules and policies of the administrator apply. (The AAA Rules are available at https://www.adr.org/Rules) The Federal Arbitration Act will govern the interpretation and enforcement of this “Dispute Resolution by Binding Arbitration” section.
A party who desires to initiate arbitration must provide the other party with a written Demand for Arbitration as specified in the AAA Rules. (The AAA provides a general Demand for Arbitration and a separate Affidavit For Waiver of Fees for qualifying California residents.) The arbitrator will be either a retired judge or an attorney licensed to practice law and will be selected by the parties from the AAA’s roster of arbitrators. If the parties are unable to agree upon an arbitrator within seven (7) days of delivery of the Demand for Arbitration, then the AAA will appoint the arbitrator in accordance with the AAA Rules. No party may initiate arbitration, however, unless that party has completed the initial dispute resolution process set forth above.
Arbitration Location and Procedure
Unless you and Albert otherwise agree, the arbitration will be conducted in the county where you reside. If your claim does not exceed $10,000, then the arbitration will be conducted solely on the basis of the documents that you and Albert submit to the arbitrator, unless you request a hearing or the arbitrator determines that a hearing is necessary. If your claim exceeds $10,000, your right to a hearing will be determined by the AAA Rules. Subject to the AAA Rules, the arbitrator will have the discretion to direct a reasonable exchange of information by the parties, consistent with the expedited nature of the arbitration.
The arbitrator will render an award within the time frame specified in the AAA Rules. The arbitrator’s decision will include the essential findings and conclusions upon which the arbitrator based the award. Judgment on the arbitration award may be entered in any court having jurisdiction thereof. The arbitrator’s award of damages must be consistent with the terms of the “Limitation of Liability” section above as to the types and amounts of damages for which a party may be held liable. The arbitrator may award declaratory or injunctive relief only in favor of the claimant and only to the extent necessary to provide relief warranted by the claimant’s individual claim.
Each party shall pay its own arbitration fees in accordance with the AAA Rules. Each party shall bear the expense of its own attorneys' fees, except as otherwise provided by law. If a statute gives you the right to recover any of these fees, these statutory rights shall apply in the arbitration notwithstanding anything to the contrary herein.
Notwithstanding any language to the contrary in these Terms, the parties hereby agree: that the initial arbitration award (the “Underlying Award”) may be appealed pursuant to the AAA’s Optional Appellate Arbitration Rules (“Appellate Rules”); that the Underlying Award rendered by the arbitrator(s) shall, at a minimum, be a reasoned award; and that the Underlying Award shall not be considered final until after the time for filing the notice of appeal pursuant to the Appellate Rules has expired. Appeals must be initiated within thirty (30) days of receipt of an Underlying Award, as defined by Rule A-3 of the Appellate Rules, by filing a Notice of Appeal with any AAA office. Following the appeal process the decision rendered by the appeal tribunal may be entered in any court having jurisdiction thereof.
Survival, Conflict, Severance
This arbitration provision will survive the termination of any agreement you have with Albert and any bankruptcy. In the event of any conflict or inconsistency between this arbitration provision, on the one hand, and the administrator’s rules or these Terms, on the other hand, this arbitration provision will govern. If any part of this arbitration provision is found to be invalid or unenforceable, then that specific part shall be severed, and the rest of this arbitration provision will continue in full force and effect, except that at either your or our election the entire arbitration provision (other than this sentence) may be null and void with respect to any claim asserted on a class, representative or multiple-party basis that does not seek public injunctive relief if the No Class Actions or Mass Action Waiver provisions are held to be invalid with respect to such claim and that determination becomes final after all appeals have been exhausted. If a court decides by means of a final decision, not subject to any further appeal or recourse, that the No Class Actions or Mass Action Waiver provisions are invalid or unenforceable as to a particular claim or request for relief (such as a request for public injunctive relief), that particular claim or request for relief (and only that particular claim or request for relief) shall be severed from the arbitration and may be litigated in the state or federal courts. All other disputes shall be arbitrated or litigated in small claims court.
Notwithstanding the provisions of the “Changes to Terms or Services” section above, if Albert changes this “Dispute Resolution by Binding Arbitration” section after the date you first accepted these Terms (or accepted any subsequent changes to these Terms), you may reject any such change by sending us written notice (including by e-mail to email@example.com) within thirty (30) days of the date such change became effective, as indicated in the “Last Updated” date above or in the date of Albert’s e-mail to you notifying you of such change. By rejecting any change, you are agreeing that you will arbitrate any Dispute between you and Albert in accordance with the provisions of this “Dispute Resolution by Binding Arbitration” section as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms). By not rejecting any change as set forth in this section, you will be bound by the changed Dispute Resolution by Binding Arbitration provision for all Disputes whether they accrued or were asserted before or after the effective date of the change.
These Terms constitute the entire and exclusive understanding and agreement between Albert and you regarding the Services and Content, and these Terms supersede and replace any and all prior oral or written understandings or agreements between Albert and you regarding the Services and Content. If any provision of these Terms is held invalid or unenforceable (either by an arbitrator appointed pursuant to the terms of the “Dispute Resolution” section above or by court of competent jurisdiction, but only if you timely opt out of arbitration by sending us an Arbitration Opt-out Notice in accordance with the terms set forth above), that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect. You may not assign or transfer these Terms, by operation of law or otherwise, without Albert’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null. Albert may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.
Any notices or other communications provided by Albert under these Terms, including those regarding modifications to these Terms, will be given: (i) via e-mail; or (ii) by posting to the Services. For notices made by e-mail, the date of receipt will be deemed the date on which such notice is transmitted by Albert. If your Albert Savings or Albert Cash Account is inactive for an extended period of time and considered by your state's law to be unclaimed or abandoned property, we'll attempt to notify you as required by your state's law. If, following our attempt to notify you, there's no activity in your account, we'll transfer those funds to the appropriate state government agency in accordance with applicable law.
All third-party names, trademarks, and service marks (including any logos and icons) (together, “Marks”) that are displayed on the Site or in the App are the property of their respective owners. Unless specifically and expressly identified as such, Albert’s use of such Marks does not indicate any relationship with, sponsorship by, affiliation with or endorsement by the owners of such Marks and Albert.
Albert’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Albert. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.
If you have any questions about these Terms or the Services, please contact us via the “Contact Support” link in the App or by e-mailing firstname.lastname@example.org.