Checking Account Agreement

Effective as of May 21, 2024

A. Introduction

This Evergreen Checking Account Agreement (“Agreement”) governs the terms of your Evergreen Money Corporation (“we,” “us,” “our,” or “Evergreen Money”) Checking Account (“Evergreen Checking Account,” “Checking Account,” or “Account”). You agree to these terms and conditions, including the Arbitration Agreement, by opening an Account or otherwise using any services provided by Evergreen Money. You may reject or opt out of the Arbitration Agreement pursuant to Section G of this Agreement.

Evergreen Money Corporation is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC, pursuant to a license by Visa U.S.A. Inc.

This Checking Account is designed only for personal use and shall not be used for business purposes. If we believe any transactions or behavior violates the terms of this Agreement or any other agreements that you have with Evergreen Money or its affiliates, we reserve the right to terminate any and all services.

In this Agreement, we use the following terms to refer to our partners and their respective agreements:

“Evergreen Money Advisors” refers to Evergreen Money Advisors Corporation, an SEC-registered investment advisor, a subsidiary of Evergreen Money Corporation.
“Evergreen Money Advisors’ Agreements” means agreements related to your relationship with Evergreen Money Advisors, including but not limited to the Investment Advisor Agreement, Standing Letter of Authorization, and ADV Wrap Fee Brochure.
“Jiko Bank” refers to Jiko Bank, a division of Mid-Central National Bank.
“Jiko Securities” refers to Jiko Securities, Inc. a FINRA registered Broker-Dealer.
“Jiko Brokerage Account” refers to your brokerage account at Jiko Securities.
“Jiko Agreements” means agreements related to your relationship with Jiko Bank and Jiko Securities.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an Account. What this means for you: When you open a Checking Account, we will ask for your name, address, date of birth, and other non-public information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.

B. Minimum Opening Deposit

This Checking Account has a $10,000 Minimum Opening Deposit amount. Your first deposit must be at least $10,000. If your initial deposit does not meet the $10,000 minimum, then we reserve the right to terminate your Account, with or without notice. We may waive this requirement at our discretion.

C. Your Evergreen Checking Account

Your Evergreen Checking Account functions as a checking account to send and receive money using Automated Clearing House (ACH), pay bills, send and receive wire transfers subject to the Wire Transfer Agreement, and use the Evergreen VisaⓇ Debit Card (“Debit Card”) where Visa is accepted. For more information regarding the Evergreen Visa Debit Card, please refer to the Debit Card Terms and Conditions.

When you agree to open an Evergreen Checking Account, you also agree to open the following: 1. A Jiko Brokerage Account at Jiko Securities; 2. A corresponding bank account at Jiko Bank (solely used as a passthrough account); and 3. An investment advisory relationship with Evergreen Money Advisors. The Jiko Brokerage Account holds U.S. Treasury Bills (“T-Bills”). Please refer to your Jiko Agreements and the Evergreen Money Advisors’ Agreements for the full terms and conditions of these relationships.

Each Business Day (defined as Monday-Friday excluding Federal holidays), excess cash that is available in your Evergreen Checking Account will automatically be transferred (also known as a “sweep”) to Jiko Bank to be invested in your Jiko Brokerage Account at Jiko Securities. Generally, these sweeps occur before 10:00 AM Eastern Time.

Withdrawals. When you withdraw funds from your Evergreen Checking Account using your Evergreen Visa Debit Card, ACH, Wire Transfer or any other method made available to you, we will first use available cash that is in your Evergreen Checking Account. Then, we will authorize withdrawals based on your available T-Bills in your Jiko Brokerage Account. If any withdrawal authorization is made based on the T-Bill balance in your Jiko Brokerage Account, these transactions will be covered by the automatic sale of T-Bills and settled at a later date. If any transaction is authorized above your Available Balance and T-Bills can not be sold to cover all or a portion of that transaction, your Checking Account may be brought negative until you have deposited more funds into your Account.

You authorize and agree that the proceeds of the sale of these T-Bills will be used to cover outstanding withdrawal balances. Please refer to your Evergreen Money Advisors’ Agreements for more details.

Deposits. When you deposit funds into your Evergreen Checking Account and there is a remaining balance after any withdrawals, then the remaining Available Balance will be swept into your Jiko Brokerage Account to buy US T-Bills. Generally, we record your excess cash balance at 5:00 am Eastern Time on Business Days. This sweep is generally done at 10:00 am Eastern Time on Business Days. You will still be able to use these funds in accordance with the withdrawals sections above.

D. Account Eligibility

The Evergreen Checking Account is available to United States citizens or legal permanent residents of the United States who are at least 18 years of age (or the age of majority in their respective state) with a valid Social Security Number or ITIN, and a permanent U.S. residential street address (P.O Boxes are not accepted). Evergreen may approve or decline an application in its sole discretion.
This is an electronic account only, which means you must accept our Electronic Communications Consent Agreement (E-sign Consent). Generally, we will communicate with you via email, which means that you must keep your email address accurate at all times with us.

E. Your Checking Account Features

Deposits. You can deposit funds into your Checking Account by connecting an external account through the Evergreen application or website; use your Checking Account routing number and account number to send money from an external bank account; or initiate a wire transfer into your account Evergreen does not accept cash or checks. We are not responsible for any lost or stolen cash or checks sent to us.
All deposits must be made in U.S Dollars. Deposits will be made available to you in accordance with our Electronics Funds Transfer Agreement. ACH deposits after 3:45 PM Eastern Time on a Business Day will be reflected as the following Business Day. Deposits made on a weekend will count toward the next Business Day. We reserve the right to decline or hold funds for any reason, including suspected fraud.
Withdrawals. You can withdraw funds from your Checking Account by ACH; by using your Debit Card; or initiating a wire transfer. ACH withdrawals are subject to the limits found in the Electronic Funds Transfer Agreement. Your Debit Card may be used to make purchases online, in-person, and at ATM’s. Please refer to your Debit Card Terms and Conditions for more information, including applicable limits. Wire transfers are subject to the terms in the Wire Transfer Agreement.
We reserve the right to decline any transaction, in full or in part, for any reason. We may decline transactions due to suspected fraudulent activity, failure to verify funds, or any other reason.
Available Balance. Your Account’s Available Balance is our most current record of funds available for you to use. We use this amount in our determination of whether to authorize transactions.
Your Available Balance includes the available funds in your Checking Account and your available funds held in T-Bills in your Jiko Brokerage Account minus any fees owed on your Jiko Brokerage Account,including the investment advisory fee.
To calculate your Available Balance, we start with your ending daily balance from the prior business day. Then, we subtract any holds that have been placed on your Checking Account and any deposits that have been posted to your account. Finally, we subtract pending transactions and any fees.
Processing Transactions. Generally, we process deposits first and then process withdrawals lowest to highest based on the time they occurred.
Overdrawn Balances. Generally, we do not permit overdrafts of your Evergreen Checking Account. If your Account becomes overdrawn, we reserve the right to decline any transactions until your Account is no longer overdrawn.
If your Account remains overdrawn after fifteen (15) days , we may take additional actions, including closing your Account without notice. You will still owe us any overdrawn balance.
Monthly Statements. Your Statement Period runs from the 1st of each month to the last day of each month. At the end of your Statement Period, we will send you an email notifying you that your Monthly Statement is available to view in your Document Center in your Evergreen Profile. You should expect your Monthly Statement for the previous month to be available no later than the 10th of the subsequent month.
Please review your Monthly Statement promptly and contact us immediately if you have any questions, concerns, or identify incorrect information.
Unauthorized Activity. If you notice any authorized transactions or you feel your Checking Account or your login credentials have been compromised, contact us immediately at 1-844-383-3874 or support@evergreenmoney.com.
Unlawful or Unauthorized Use. You will not use your Evergreen Checking Account (or Debit Card) for unlawful purposes or purposes we deem unauthorized, including but not limited to gambling, even if permitted by law.
If we suspect activity is fraudulent, unlawful, or high risk, we reserve the right to suspend your ability to conduct further transactions until you contact us to confirm the legitimacy of the transactions.
If we determine your activity to be unlawful, unauthorized, or high risk, we reserve the right to immediately terminate your Checking Account without notice. If your Checking Account is terminated, you will immediately be responsible for any outstanding balances and charges.

F. Additional Information

Default. If you fail to pay us any required amount, we may consider your Checking Account in default. If we deem your Account to be in default, we may terminate your Account and require any amount owed to us to be paid immediately.
Right to Set Off. If any of your Accounts with us become and remain negative for fifteen (15) days, you agree that we can use the funds in any of your Accounts with us or our affiliates to repay the amount owed on the negative balance in the Account. This means, we have the right to set-off any liability, direct or contingent, past, present, or future that you owe against any Account you have with us. Further, you grant us a lien on and security interest in the funds on deposit in each of your Account(s) as security for all of your liabilities and obligation to us, now or in the future. We will notify you if we have exercised our right to set off.
Termination, Suspension of Use, or Cancellation. We may terminate, suspend your usage of any feature, or close your Account, or terminate any transactions at any time at our sole discretion without giving you notice, subject to applicable law. You will be required to pay us all outstanding balances immediately on your Account despite any termination, suspension, closure, or cancellation.
Communications. You agree that we can contact you by using the information provided to us in your application or in subsequent communications. We may contact you by using, but not limited to, automatic telephone dialing systems, text message, email, and other electronic means for any purposes, including marketing. We may leave you voicemails or other messages for business, marketing, or collections purposes. Our contact with you will be to provide you information pertaining to your Account in good faith. You will keep your contact information updated by updating your online account.
You agree that this consent is valid regardless of whether the number we use to contact you is assigned to any service for which you may be charged for the call, text message(s), or other communications. We may monitor or record any communications you have with us.
Assignment. We may assign or transfer your Account, including this Agreement or our rights and obligations under your Account or this Agreement, to our affiliates or to some other company at any time without prior notice or consent. Subject to applicable law, the person or entity to whom we make any such sale, assignment, or transfer is entitled to all our rights under this Agreement, to the extent sold, assigned, or transferred.
Change of Rates, Fees, and Terms. We may change the rates, fees, and terms of this Agreement at any time, in accordance with applicable law. We will notify you of changes if we are required to do so by law, and you may be given the opportunity to reject those changes to the extent required by law or otherwise at our discretion. If you choose not to accept those changes, you may terminate this Agreement by notifying us in writing. However, your Account will be closed, and you will remain responsible for all amounts owed to us immediately.
Voluntary Closure. You may voluntarily close your Account at any time by calling us at 1-844-383-3874 or using the chat function in your Evergreen Profile. You will still be responsible for paying any outstanding balance or charges. If you ask us to close your Account, but you continue to use your Account after the date of cancellation, we will consider such use as your request for reinstatement of your Account. We may then reinstate your Account and bill you accordingly.
Severability. If any part of this Agreement conflicts with applicable law, that law will control, and this Agreement will be considered changed to the extent necessary to comply with that law. If any part of this Agreement is determined by a court of valid jurisdiction to be invalid, the remainder of this Agreement will remain in effect.
Tax Responsibility. You are responsible for paying any local, state, and federal taxes associated with your account. For interest, we will send you a 1099-INT document before January 31 for the preceding year, if applicable, in the mail and in your Document Center.
Jury Trial Waiver. You and us waive any right to trial by jury.
Privacy of Information. Please refer to our Privacy Notice for information about Evergreen’s privacy practices.
Governing Law. This Agreement and your Account are governed by Federal Law and, to the extent state law applies, the law of the State of Washington will apply.

G. Arbitration Agreement

Resolving a Dispute with Arbitration: Please read this provision of the agreement (the “Arbitration Agreement”) carefully. It provides that any dispute may be resolved by binding arbitration at either party’s request. Unless you reject the Arbitration Agreement within thirty (30) days after your account is opened, the Arbitration Agreement will have a substantial effect on your rights in the event of a dispute. Arbitration replaces the right to go to court, including the right to a jury and the right to participate in a class action or similar proceeding. In arbitration, a dispute is resolved by an arbitrator instead of a judge or jury. This provision does not apply if you are a “covered borrower” as defined in the military lending act, 10 U.S.C. § 987.
Agreement to Arbitrate: Maintaining good relationships with our customers is very important to us. We ask that you contact us immediately if you have a problem with your Account or a service we provide. Often a telephone call to us resolves the matter quickly and amicably. However, if you and we are unable to resolve our differences informally, you agree by opening or maintaining an Account with us, that if any dispute between you and us arises regardless of when it occurs, it will be settled using the following procedures: you and we agree and understand that (1) you and we are giving up the right to trial by jury and (2) this section precludes you and us from participating in or being represented in any class or representative action or joining or consolidating the claims of other persons. In addition, your agreement to arbitrate and waive trial by jury shall be applicable to parties acting on our behalf, including agents or independent contractors who collect your account on our behalf or purchase your account, and to parties acting on your behalf, such as your authorized users, heirs, or representatives. This Arbitration Agreement is governed by the Federal Arbitration Act (FAA), 9 U.S.C. §§ 1 et seq., and not by any state arbitration law. Except as set forth below, the parties agree to arbitrate any dispute or controversy concerning your Account or related products or services. Either party may request that the matter be submitted to arbitration.
Commencing an Arbitration: The party electing arbitration must notify the other of such election. This notice may be given before or after a lawsuit has been filed concerning the Claim or with respect to other Claims brought later in the lawsuit, and it may be given by papers filed in the lawsuit such as a motion to compel arbitration. If you elect arbitration, you must notify us in writing. Your notice must be sent to Coastal Community Bank, Finance Department, 5415 Evergreen Way, Everett, WA 98203 AND an email notification to Evergreen at support@evergreen.money. If we elect arbitration, we will notify you in writing at your last known address on file.
Claim: A “Claim” is any unresolved claim, dispute, or controversy between you and us, whether past, present, or future, arising out of or related to this Agreement, your Account, products, or services governed by this Agreement or the relationships resulting from this Agreement or your Account. “Claim” has the broadest possible meaning, and includes initial claims, counterclaims, cross claims, and third-party claims. It includes disputes based upon contract, tort, consumer rights, fraud, and other intentional torts, constitution, statute, regulation, ordinance, common law, and equity (including any claim for injunctive or declaratory relief). Solely for purposes of this Arbitration Agreement, the terms “we,” “us”, and “our” also include Evergreen and any person or entity named as a co-defendant with us in a Claim asserted by you. Notwithstanding the foregoing, individual actions brought in small claims court (or your state’s equivalent court) are not eligible for arbitration; however, if the action is transferred, removed, or appealed to a different court, it shall be eligible for arbitration at either party’s request.
Binding Arbitration: Binding arbitration is a means of having an independent third party (the arbitrator) resolve a dispute without using the court system, judges, or juries. Either you or we can request binding arbitration. Each arbitration, including the selection of the arbitrator, shall be administered by the American Arbitration Association (AAA), according to the Consumer Arbitration Rules of the AAA. A single arbitrator shall be appointed. If you have a question about the AAA, you can contact them as follows: American Arbitration Association, 1633 Broadway 10th Floor, New York, NY 10019, 1-800-778-7879, http://www.adr.org . If the AAA is unable to serve as administrator and you and we cannot agree on a replacement, a court with jurisdiction will select the administrator or arbitrator, provided that no company may serve as administrator, without the consent of all parties, if it adopts or has in place any formal or informal policy that is inconsistent with and purports to override the terms of the Class Action Waiver in this Arbitration Agreement.
Powers and Qualifications of Arbitrators and Arbitration Procedures: Any arbitration hearing that you attend will take place in a location that is reasonably convenient for you. If you cannot obtain a waiver of the AAA’s or arbitrator’s filing, administrative, hearing, and/or other fees, we will consider in good faith any request by you for us to bear such fees. Each party will bear the expense of its own attorneys, experts, and witnesses, regardless of which party prevails, unless applicable law or this Agreement gives a right to recover any of those fees from the other party. The arbitrator shall follow applicable substantive law to the extent consistent with the FAA, applicable statutes of limitation and privilege rules that would apply in a court proceeding, and shall be authorized to award all remedies available in an individual lawsuit under applicable substantive law, including, without limitation, compensatory, statutory, and punitive damages (which shall be governed by the constitutional standards applicable in judicial proceedings), declaratory, injunctive, and other equitable relief, and attorneys’ fees and costs. Upon the timely request of either party, the arbitrator shall write a brief explanation of the basis of his or her award. The arbitrator’s award will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter judgment upon the arbitrator’s award.
Class Action Waiver: You agree not to participate in a class, representative or private attorney general action against us in court or arbitration. Also, you may not bring claims against us on behalf of any account holder.
The arbitrator shall have no authority to conduct any class, private attorney general or other representative proceeding, and shall award declaratory or injunctive relief only in favor of the party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual claim. If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, and the court’s determination shall be subject to appeal.
Rights Preserved: This Arbitration Agreement and the exercise of any of the rights you and we have under this Agreement, does not stop you or us from exercising any lawful rights either of us has to use other available remedies; to comply with legal process; to obtain provisional remedies such as injunctive relief, attachment or garnishment by a court of appropriate jurisdiction; or to bring an individual action in court that is limited to preventing the other party from using or obtaining any provisional or self-help remedies and that does not involve a request for damages or monetary relief.
Enforcement: You or we may bring an action, including a summary or expedited motion, to compel arbitration of Claims subject to arbitration, or to stay the litigation of any Claims pending arbitration, in any court having jurisdiction. Such action may be brought at any time, even if such claims are part of a lawsuit, unless a trial has begun or a final judgment has been entered. Any dispute concerning the validity or enforceability of this Arbitration Agreement must be decided by a court; any dispute concerning the validity or enforceability of the Agreement as a whole is for the arbitrator. Failure or forbearance to enforce this Arbitration Agreement at any particular time or in connection with any particular Claims will not constitute a waiver of any rights to require arbitration at a later time or in connection with any other Claims. Any additional or different agreement between you and us regarding arbitration must be in writing. If either you or we fail to submit to binding arbitration following a lawful demand, the party who fails to submit bears all costs and expenses incurred by the party compelling arbitration.
Survival and Severability of Terms: This Arbitration Agreement shall survive: (i) termination or changes in the Agreement, the Account, or the relationship between you and us concerning the Account; (ii) the bankruptcy of any party; and (iii) any transfer, sale or assignment of your Account, or any amounts owed on your Account, to any other person or entity. If any portion of this Arbitration Agreement (except for the Class Action Waiver set forth above) is deemed invalid or unenforceable, the remaining provisions of the Arbitration Agreement shall remain in force. No portion of this Arbitration Agreement may be amended or waived absent a written agreement between you and us.
RIGHT TO REJECT: You may reject or opt out of this Arbitration Agreement by emailing a signed or e-signed rejection notice to Evergreen at support@evergreenmoney.com within thirty (30) calendar days after your Account is opened. Any rejection notice must include your name, address, email address, and telephone number. This is the only manner by which you can reject this Arbitration Agreement. If you reject this Arbitration Agreement, only a court may be used to resolve any Claim. If you reject this Arbitration Agreement, such rejection will not affect any other provision of the Agreement.