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Wire Transfer Agreement

Last updated June 20, 2024

A. Introduction

This Wire Transfer Agreement (“Agreement”) governs the Wire Transfer Service (“Service”) attached to your Evergreen Checking Account (“Account”).  By opening your Account or using the Wire Transfer service, you agree to this Agreement. 

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

In this Agreement, “you” and “your” mean the client to whom the Account belongs and to whom has the authority to send a Wire Transfer.  The words “Evergreen Money,” “Evergreen,” “we,” or “our” mean Evergreen Money Corporation.  The words “Evergreen Checking Account” or “Account” means your Evergreen Money Checking Account that allows the Wire Transfer service. 

This Agreement is a supplement to the Checking Account Terms and Conditions for your Evergreen Checking Account. The usage of the Wire Transfer Service is subject to your Evergreen Checking Account Terms and Conditions. 

Wire Transfers are for personal use only and shall not be used for business purposes. Only the client to whom the Evergreen Checking Account is owned may use the Wire Transfer capability. This Agreement is subject to the Arbitration Agreement found in your Evergreen Checking Account Terms and Conditions.

 

B. Protect Yourself Against Wire Scams

Only wire money to individuals or recipients you have verified. Wire scams are prevalent and, once the wire is sent, you may not be able to recover your money. 

Possible signs of scam. The requester:

  • Sends you wire instructions via email. Always verify details by phone. 
  • Contacts you unexpectedly.  (e.g., An emergency)
  • Pressures you into paying immediately.
  • Only accepts payments via wire, gift cards, or crypto currency.
  • Tells you to keep the transaction a secret and/or tells you how to respond to questions when requesting the wire. 
  • Asks for personal information

Known Scams:

  • Imposter scams, such as claiming to be an IRS agent.  The IRS will always send an official letter and will not call you. 
  • Romance/New friend claiming they need money to travel to see you or want you to invest in a business opportunity. 
  • Family emergency call claiming to need money but it’s not really a family member. Always call the family member directly. 
  • Lottery scams requiring you to wire money for taxes or fees before you can claim the winnings. 
  • Tech support scams requiring you to pay a fee for help.

 

C. Wire Transfer Service

  1. Types of Wires. 

i. Domestic wires only (between banks within the United States, including its territories).

ii. Personal wires only. Business wires are not permitted. 

  1. Fees and Limits

i. Incoming Wires: None

ii. Outgoing Wires: None

iii. Limits: Funds must be available for use in your Account. 

  1. Security Procedures

i. To use the Service, you must submit the wire transfer request while logged in to your Account, either on the app or desktop. 

ii. Do not provide access to your Account to any other person. 

iii. We may request additional documentation from you in order to fulfill your wire request. Failure to provide this information will result in the wire request not being processed. 

4. Processing, Canceling, Delays, and Notifications of Wires Transfers

i. Processing Time. If the wire request is made and completed by 3:30 PM Eastern Time, including verification procedures, on a Business Day (Monday-Friday, excluding Federal Holidays), then the wire will be processed that Business Day. If the wire is requested and completed after 3:30 PM Eastern Time or on a non-Business Day, then the wire will be processed on the next Business Day. Wire requests can only be submitted through the Evergreen Mobile app or when logged in on a desktop.

ii. Canceling or modifying.Once the wire information has been processed, we are unable to cancel it or modify it. You may request for us to attempt to return the funds to you or modify it, however, the recipient bank must agree.  The amount returned to you may not be the full amount you sent depending on the bank.

iii. Internal Review. All wires are subject to internal review.  We may need to contact you to verify certain information, which may cause delay.  We reserve the right to cancel or delay any wire for any reason. We will contact you if your wire is canceled or delayed.  We are not liable for any losses you may incur due to a canceled or delayed wire.

iv. Notifications. Your wire transaction will appear in your Account’s activity screen.  Additionally, we will send you an email and/or SMS notifying you that a wire has been created.

  1. Wire Information

i. You are responsible for verifying all wire instructions. We are not liable for any incorrect information. You certify all information provided to us is true and accurate.

ii. If you provided incorrect recipient information, you can lose all of the amount transferred. 

iii. You must provide us with the reason for the wire transfer in the Wire Instruction Form.  This reason must be truthful.

iv. You must provide us with all the information requested in the Wire Instruction Form. Failure to provide all the information may result in a wire not being processed or a delay in processing.

  1. Indemnification

i. You will indemnify us and hold us harmless against all claims, expenses, liabilities, and losses (including reasonable legal fees) if you or a third party makes a claim against us for any of our actions or services in this Agreement, unless they provide proof of gross negligence or willful misconduct. You understand this section will survive even if you close your Account or this Agreement is terminated.

  1. Limitation of Liability

i. We will not be liable for any failure or delay of any wire transfer or for failing to meet other obligations in the Agreement because of circumstances or causes beyond our control, including governmental, legal, or regulatory restrictions or prohibitions, third party actions, natural disasters, requirement or system failures, labor disputes, wars, or riots. IN NO EVENT SHALL WE HAVE ANY LIABILITY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, OR SPECIAL DAMAGES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

  1. Change in Terms. We reserve the right to make changes to this Agreement.  
  2. Contact Information.  You agree to keep all contact information current by updating it immediately within your Evergreen Profile.  
  3. Electronic Account.  You agree that this is an electronic Account only. Therefore, you agree to all documents and communications being sent to you electronically.  
  4. Applicable Law.  This Agreement is governed by and shall be construed in accordance with applicable federal law and the laws of the State of Washington.
  5. Severability.  If a provision of this Agreement is held invalid or unenforceable in any respect, the validity or enforceability of the remaining provisions will not in any way be affected.