SoFi Bank, N.A.

SoFi Bank Deposit Account Agreement

Effective as of November 29, 2024

Welcome to SoFi Bank, N.A. (“SoFi Bank”) and thank you for opening your account with us.

SECTION XXV OF THIS AGREEMENT REQUIRES CLAIMS TO BE ARBITRATED

AND FORBIDS CLASS ACTIONS UNLESS YOU EXERCISE YOUR RIGHT TO
REJECT ARBITRATION WITHIN NINETY (90) DAYS AFTER ACCOUNT OPENING.

This Agreement sets forth the basic terms governing your Account. We have prepared this
Agreement and the related links, schedules and disclosures to help you understand your rights
and obligations with respect to your new Account and to advise you of what you can expect from
SoFi Bank with respect to your Account. Please review this Agreement and any schedules that
relate to your specific Account (e.g., the SoFi Bank Rate Sheet), for further details regarding
your Account and related services.

If you have any questions or concerns about anything contained in this Agreement, please
contact SoFi Bank at 1‐855‐456‐7634.
 SoFi Bank N.A.
SoFi Bank Deposit Account Agreement

Effective as of November 29, 2024

I. Definitions.

In this Agreement, the terms “you” and “your” refer to you as the SoFi Bank Customer (defined
below), and “SoFi Bank,” “the Bank”, “we,” “our” and “us” refer to SoFi Bank N.A., a nationally
chartered banking association, a member of the Federal Deposit Insurance Corporation (“FDIC”) and a
direct, wholly owned subsidiary of Social Finance, Inc. and indirect subsidiary of SoFi Technologies,
Inc.

In addition, here are some important terms that we use throughout this Agreement:

“Account” or “SoFi Bank Account” shall mean any consumer deposit account (e.g., a
Checking Account or a Savings Account) opened by an individual, or jointly with another individual,
with SoFi Bank.

“Account Assets” shall mean the cash or any cash‐equivalent assets held in your Account.

“Account Statement” shall mean the monthly statement SoFi Bank will electronically post to
your Account setting forth all Account activity during the related statement period.

“ACH” or “ACH System” shall mean an automated clearing house network or system used to
process electronic payments which are transferred to or from your Account through an automated
clearing house network. Such payments shall be subject to all applicable Federal Reserve System
regulations and circulars, NACHA Rules, and similar operating policies and procedures. Common
examples include direct deposits of payroll, pension or government benefits such as Social Security.

“Agreement” or “Customer Agreement” shall mean, collectively: (i) this Agreement, as

amended from time to time; (ii) the SoFi Privacy Policy, the E-Sign disclosures and other documents
provided to you during the SoFi Member enrollment process; (iii) the SoFi Bank Debit Card
Agreement and SoFi Bank Mobile Wallet Agreement, if applicable; (iv) the SoFi Bank Terms of Use,
the SoFi Bank Fee Sheet, the SoFi Bank Rate Sheet, the SoFi Bank Transaction Limits and the SoFi
Bank Contact Sheet; and (v) all Disclosures provided on or after the date hereof and incorporated
herein by reference.

“ATM” or “Automated Teller Machine” shall mean an electronic device that performs certain
banking services, including withdrawals and balance inquiries.

“Authorized Signer” shall mean any joint account holder, or any other person who has actual
or apparent authority to use your Account even if they have not signed the account application.

“Available Balance” shall mean the most current record maintained by SoFi Bank of the
amount of money in your Account which is available for your immediate use or withdrawal. You can

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find this balance by logging into your Account at www.sofi.com or on the SoFi Mobile App, or on
receipts you receive at ATMs.

“Bill Pay Payment” shall mean an online bill payment to a vendor, merchant, or other
third‐party biller made using the SoFi Bank Bill Pay Service.

“Business Day” shall mean any day other than (i) a Saturday or Sunday, (ii) a day on which
national banks are closed, and (iii) a legal public holiday specified in 5 USC § 6103(a), in each case
even if SoFi Bank is otherwise open on such day. Any references to “days” found in this Agreement are
calendar days unless indicated otherwise.

“Check” shall mean a written order to pay a specific amount of money drawn on, payable
through, payable at or processed by a bank or other depository institution. If a check is sent or returned
as an electronic image or as a substitute check, it is still considered a check.

“Checking Account” or “SoFi Checking Account” shall mean a demand deposit account
offered by SoFi Bank, which can be used to make payments and transfers to third parties online,
through checks or other means.

“Cut‐Off Time” shall mean the time established by SoFi Bank in the SoFi Bank Funds
Availability Policy set forth in Section V herein, before which a specified Account activity must occur
in order to be recognized as having occurred on the same calendar or Business Day, as applicable.
Deposits and other Account activity occurring after the specified “Cut‐Off Time” on any calendar day
or Business Day, as applicable, will be treated as having occurred on the following Business Day or
calendar day or, as applicable.

“Delivery Date” shall mean the date a SoFi Bank Bill Pay Payment or a SoFi Bank P2P
Transfer, as applicable, is scheduled to be paid.

“Disclosures” shall mean all amendments, addendums, disclosures, supplements, schedules,

updates, notices, and other communications required or permitted by law or regulation, which are
posted to your Account or otherwise delivered to you by SoFi Bank or its affiliates in the manner
described herein.

“FDIC” shall mean the Federal Deposit Insurance Corporation.

“Mobile Deposits” shall mean checks deposited remotely by Customers using the camera
enabled deposit capture feature of the SoFi Mobile App.

“NACHA Rules” shall mean the “Operating Rules & Guidelines” of the National Automated
Clearing House Association, as revised from time to time.

“OFAC” shall mean the Office of Foreign Assets Control of the United States Treasury
Department.

“Overdraft” shall mean the amount by which any item(s) presented on your Account on a
Business Day exceeds the Available Balance.

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 “Overdrawn” shall mean that your Account has a negative balance.

“P2P Transfer” shall mean any person‐to‐person ACH or other electronic transfer of cash
which is either initiated by you or by a third‐party sending money to you.

“Payee” shall mean, in the case of a SoFi Bank Bill Pay Payment, the business or entity
designated in the related Payment Instructions as the recipient of the Bill Pay Payment; and, in the case
of a SoFi Bank P2P Transfer, the individual designated in the related Payment Instructions as the
recipient of the P2P Transfer.

“Payment Amount” shall mean, in the case of a SoFi Bank Bill Pay Payment or a SoFi Bank
P2P Transfer, as applicable, the dollar amount specified in the SoFi Bank Bill Pay system or in the
related Payment Instructions, as applicable.

“Payment Instructions” shall mean the payment instructions provided by you in connection
with a SoFi Bank Bill Pay Payment or a SoFi Bank P2P Money Transfer, as applicable.

“PIN” shall mean a four-digit personal identification number that you either select or request
from us for your debit or ATM card. Some merchants and all ATMs require a PIN when you use a debit
card.

“SoFi” shall mean SoFi Technologies, Inc., a Delaware corporation, and, if the context
warrants, its affiliates.

“Savings Account” or “SoFi Savings Account” shall mean a savings account offered by SoFi
Bank.

“SoFi Mobile App” shall mean the SoFi mobile application through which SoFi Bank
Customers can access their SoFi Bank Accounts through mobile devices. The SoFi Mobile App may be
available through the Apple App Store, Google Play, or similar platforms.

“SoFi Money Account” or “SoFi Money” shall mean a cash management account offered by
SoFi Securities, LLC.

“SoFi Bank Transaction Limits” shall mean the SoFi Bank policy establishing periodic
Account activity limits for deposits, withdrawals and other Account activity, as established by SoFi
Bank and modified from time to time. The current SoFi Bank Transaction Limits policy can be found at
https://www.sofi.com/banking/limits/.

“SoFi Bank Bill Pay Service” shall mean the online bill payment service offered by SoFi Bank
through which Customers can set up electronic or manual (i.e., check mailed) bill payments from their
SoFi Checking Accounts.

“SoFi Bank Customer” or “Customer” shall mean each person who, individually or together
with joint account holders, has: (i) completed the SoFi Bank Account application related hereto; (ii)
been approved by SoFi Bank to open an Account; and (iii) provided his/her electronic consent and
acknowledgment to the terms of this Agreement, or a person who has been designated a “joint account
holder” by someone who has fulfilled the requirements in (i) – (iii).

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 “SoFi Bank Contact Sheet” shall mean the list of phone numbers, email addresses and mailing
addresses that can be used to contact SoFi Bank. The current SoFi Bank Contact Sheet can be found at
https://www.sofi.com/contact-us/.

“SoFi Bank Debit Card” or “SoFi Debit Card” shall mean the Mastercard Worldwide debit
card issued to you by SoFi Bank for use in connection with your SoFi Checking Account. A SoFi Debit
Card or other ATM card will not be issued for use in connection with your SoFi Savings Account.

“SoFi Bank Debit Card Agreement” or “SoFi Debit Card Agreement” shall mean the
agreement separately delivered to you by SoFi Bank, which sets forth the terms and conditions
governing your use of the SoFi Bank Debit Card, as the same may be amended from time to time.

“SoFi Bank Deposit Accounts” shall mean any consumer deposit accounts offered to the
public by SoFi Bank from time to time, which may include, without limitation, checking accounts,
savings accounts, NOW accounts, or other accounts, and which may or may not be interest bearing
accounts.

“SoFi Bank Fee Sheet” shall mean the schedule of account fees, service fees and other charges
established by SoFi Bank for transactions and services effected through your Account, as updated from
time to time. The current SoFi Bank Fee Sheet can be found at www.sofi.com/legal/banking-fees/.

“SoFi Bank Funds Availability Policy” shall mean the policy established by SoFi Bank to
determine hold periods for items deposited into your Account as more particularly described in Section
V herein.

“SoFi Bank P2P Transfer Service” shall mean the online electronic funds transfer service
made available by SoFi Bank, through which Customers may send money to, or receive money from,
other SoFi Bank Customers or external account holders by ACH or by other electronic means.

“SoFi Bank Platform” shall mean all content on, or available on or through www.sofi.com or
the SoFi Mobile App related to your SoFi Bank Account; including the “SoFi Bank” or “SoFi”
trademarks; any logos, designs, text, images, graphics, trade names, marketing names, trademarks,
trade dress, service marks pictures, video, audio, information, applications or software related to, or
available through, any of the forgoing.

“SoFi Bank Rate Sheet” shall mean the statement published from time to time by SoFi Bank
and made available online or the SoFi mobile app which describes interest rates payable on SoFi Bank
Accounts and any eligibility criteria required to earn interest; and if applicable, interest rates paid by
SoFi Bank under the terms of any promotional programs offered by SoFi Bank. The current SoFi Bank
Rate Sheet can be found at http://www.sofi.com/legal/banking-rate-sheet.

“SoFi Third‐Party Partner” shall mean any third‐party financial institution, service provider
or other entity which SoFi Bank has engaged or contracted with to provide services in connection with
your SoFi Bank Account.

“SoFi Third ‐Party Agreement” shall mean any agreement between SoFi Bank and any SoFi
Third‐Party Partner which sets forth the terms pursuant to which the SoFi Third‐Party Partner will
provide services in connection with SoFi Bank Accounts.

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 “SoFi Bank Vault Program” shall mean the program that permits customers to segregate funds
in their SoFi Savings Accounts into Vaults to support specific savings goals as more particularly
described in Section XI hereof.

“SoFi Bank Mobile Wallet Agreement” means Terms of Use for Mobile Wallet Services, as
may be amended, modified or supplemented from time to time, by and between the Customer and SoFi
Bank.

“SoFi Terms of Use” shall mean the general terms and conditions governing electronic access
to your Account, as may be modified from time to time. The current SoFi Terms of Use can be found at
https://www.sofi.com/terms-of-use/.

“TCPA” shall mean the Telephone Consumer Protection Act, 47 U.S.C. § 227, as the same may
be amended, modified, or supplemented from time to time.

“Third‐Party Agreements” shall mean any separate agreement you may enter into with your
device operating system provider (e.g., Apple, Google or Microsoft), your mobile device manufacturer
(e.g., Apple, Google or Samsung), your mobile service carrier (e.g., AT&T or Verizon), and other
parties involved in providing your online or mobile device service.

“Unauthorized Transaction” shall mean a transaction involving your Account that you did not
authorize.

“Vault” an internal allocation of cash within your SoFi Savings Account for a designated
purpose.

II. Scope of SoFi Deposit Account Agreement.

A. Account Terms.

This Agreement contains all terms which apply to and govern each type of SoFi Bank Deposit
Account, including your use of any online or mobile banking services maintained by SoFi Bank.

In addition to the terms of this Agreement, you agree that all transactions and services related to
your Account shall also be subject to the following:

● the Constitution of the United States, rules, regulations, customs and usages of the Office of the
Comptroller of the Currency (the “OCC”), the Federal Deposit Insurance Corporation (the
“FDIC”), the Consumer Financial Protection Bureau (“CFPB”), the Federal Reserve Board
(“FRB”), the National Automated Clearing House Association (“NACHA”) and any § 1005.3
self‐regulatory organization which governs SoFi Bank or your Account;

● the rules, regulations, customs and usages of any clearing house, including but not limited to
any ACH System, or other system through which transactions may be executed in connection
with your Account by SoFi Bank or its agents;

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 ● the applicable terms of any agreements between SoFi Bank and any SoFi Third‐Party Partners,
for services related to your Account;

● all federal or state laws, rules and regulations applicable to your Account or SoFi Bank; and

● with respect to any P2P, Bill Pay or other electronic funds transfer (including a wire transfer)
that is a remittance transfer as defined in Regulation E, Subpart B, the laws of the United States
and, to the extent applicable, the laws of the state of New York, including New York’s version
of Article 4A of the Uniform Commercial Code, without regard to its conflict of laws
principles.

B. Your Consent to this Agreement and Subsequent Disclosures.

You indicate your acceptance of this Agreement by: (a) providing your electronic consent to this
Agreement, (b) activating or using any of the Account features or services described in this Agreement,
or (c) downloading the SoFi mobile app or accessing the SoFi website in connection with your
Account. Any of the preceding actions also confirms acceptance of any ancillary documents referenced
or linked herein and any terms and instructions that appear on a screen when activating or using your
Account. You are also agreeing that the terms of this Agreement will govern each party’s rights and
obligations with respect to all transactions related to your SoFi Bank Account, as well as the resolution
of any disputes related to your SoFi Bank Account.

SoFi Bank reserves the right to amend the terms of this Agreement, the SoFi Bank Debit Card
Agreement, the SoFi Bank Terms of Use, at any time, or to make changes to any other terms of your
Account, by delivering written Disclosures to you describing any new changes, when required by
regulation. Similarly, SoFi Bank reserves the right to use the same process to add or remove Account
services or to convert your Account from one product to another product offered by SoFi Bank.
Disclosures will also be used to describe changes SoFi Bank may agree to related to any SoFi
Third‐Party Agreements which may impact your Account. The terms of all Disclosures delivered on or
after the date hereof will be incorporated herein by reference. In the event of an inconsistency between
the terms of this Agreement and the terms of any Disclosure, the terms of the Disclosure will control.

You will be deemed to have received a Disclosure once we have posted it to your Account, sent
it by email, or sent it by United States Postal Service to the physical mailing address you have provided
to us, or delivered it by any other method described in this Agreement. Pursuant to Section III.D herein,
you have an obligation to keep your contact information current at all times. Unless otherwise specified
by SoFi Bank, your continued use of the Account following the receipt of any Disclosure constitutes
your acknowledgment of, and consent to, the change(s) set forth in the Disclosure. If you do not
consent to the change(s) set forth in the Disclosure, you may close your Account using the process
described in this Agreement, provided, however, that the terms of any Account changes described in
Disclosures delivered prior to the closure or termination of your Account, shall apply to all Account
activity occurring on and after the effective date of such changes.

Each Disclosure will explain the Account change and the date the change will become effective.
Except as set forth below, most Disclosures will not require your affirmative acknowledgement or
consent prior to taking effect. The effective date of an Account change shall be determined by us,
subject to applicable law. Not all Account changes require advance notice to customers. In most

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instances, however, we will provide you with notice of a change in advance of, or contemporaneously
with, the effective date of the change. Account changes will become effective as of the effective date
we establish.

In limited circumstances, we may require your affirmative consent to a new Agreement or to

certain significant Account changes described in a Disclosure. In these instances, you will be asked to
affirmatively acknowledge your consent to the new Agreement or Disclosure. In the event we request
but have not received your affirmative consent to a new Agreement or Disclosure within a reasonable
time period after the request, SoFi Bank reserves the right to suspend your Account until such consent
is received. While suspended, SoFi Bank will not honor any debit or other outgoing transactions,
including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or similar transactions
related to your Account. During any such suspension, SoFi Bank may continue to honor all credit
transactions, including deposits and incoming P2P Transfers. In the event no consent is received within
a reasonable time after a request, SoFi Bank reserves the right to close and terminate your Account in
accordance with the procedures set forth herein.

III. Account Opening Procedures; SoFi Bank Account Titling; Duty to Update Account
Information; Third Party Services.

A. Account Eligibility.

SoFi Bank Accounts are available only to U.S. citizens and both permanent residents and
non-permanent residents of the fifty (50) United States and the District of Columbia who (i) are at least
18 years of age, (ii) have a valid Social Security number or Individual Taxpayer Identification Number
(“ITIN”), and (iii) have a physical residential street address in the United States. You cannot use a P.O.
Box as your physical street address in the United States to open or maintain a SoFi Bank Account. If
your physical street address reflects either a P.O. Box or an address outside of the United States, we
will require that you update your address to a physical street address in the United States. You should
promptly notify SoFi Bank of any U.S. military or extended stay circumstances. SoFi Bank may close
your Account if we determine that you are not residing in the United States or have not provided a
physical street address. We may use information from third parties to determine your eligibility for a
SoFi Bank Account.

B. Personal Use only.

Your SoFi Bank Account may only be used for personal, family, or household purposes and
cannot be opened or used for business purposes. You agree not to use your Account for business
purposes. We may close your Account if we determine it is being used for business purposes. We
reserve the right to refuse to process any transactions we believe violate the terms of this Agreement.

C. Individual vs. Joint Accounts.

Your SoFi Bank Account may be owned and titled in the name of one person who may deposit,
transfer, or withdraw funds, or it may be titled jointly with another person who may perform such
activities. Your Account may not be owned or titled in the name of a company, fiduciary, estate,
organization, or other legal entity. We are authorized to rely on the account ownership information

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contained in our deposit system. SoFi Bank strongly encourages you to consult your tax planning
advisor or attorney about your decision in choosing a title for your Account.

1. Our Relationship with You.

The Agreement and the deposit relationship do not create a fiduciary relationship between you
and SoFi Bank.

2. Individual Accounts.

When only one individual is listed as the owner of an account, we will treat the account as a
solely owned account.

3. Joint Accounts.

When two people are listed as owners of an Account, the Account is a “joint account” and each
owner is a “joint owner.” If there are joint Account holders, each is jointly and severally liable for
obligations arising under this Agreement and the Account. We may enforce this Agreement jointly
against both Account holders or against either Account holder individually. If a joint Account becomes
overdrawn, each joint account holder is liable for the full amount the Account is overdrawn, regardless
of who initiated or benefited from the item(s) that caused the overdraft.

All joint Accounts are owned by the joint owners as joint tenants with right of survivorship. In
many jurisdictions, this means that, upon the death of one Account holder, the entire interest in the
Account generally goes to the surviving Account holder. Laws covering joint accounts and community
property vary by state. You are responsible for verifying how a joint Account will be treated in your
state. You are advised to consult with an attorney.

Each joint Account holder has full authority, acting individually and without notice to, or
approval from, the other account holder, to interact with, and provide direction to, SoFi Bank as if
he/she were the sole account holder. For example, a joint Account holder can write checks on the
Account, withdraw or transfer funds into or out of the Account, or change Account features and
services. One joint Account holder may not remove the other’s name from the Account or change their
personal information. The individual who initially opens the Account shall be deemed the “primary”
account holder.

We are authorized to follow the instructions received from either joint account holder. We are
not responsible for determining the purpose, authenticity or propriety of an instruction we receive from
any joint account holder. We reserve the right to require written instructions from all joint account
holders, at our sole discretion. We also reserve the right, but are not obligated, to place restrictions on
an Account in the event we receive notice of a dispute among, or conflicting instructions from, joint
account holders. For example, if one joint account holder requests that we not pay items authorized by
a different joint account holder, we may block the account, but we are not required to do so. In most
instances, we will refuse to pay all items, including items authorized by the account holder making the
request. If we block the Account, we may not release the block unless all joint account holders agree in
writing to remove it. No request to block the Account will affect items that we paid before the request.
If we decide not to block the Account, all joint account holders remain responsible for debits and/or
withdrawals from the Account.

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 Any joint account holder may close the account without consent from any other joint account
holders. We may choose whether or not to act upon other instructions of any joint owners, including
adding another owner to the account, without the authorization of the other joint owners. We may also
pay all or any part of the funds in the joint account to a court or government agency if we receive a
garnishment, levy or similar legal process that identifies any of the joint owners.

With joint Accounts, the principle of “notice to one is notice to all” applies, which means that
any notice or Disclosure we send to one joint account holder will be deemed delivery of such notice or
Disclosure to all joint account holders.

4. Power of Attorney.

You may give another person authority to make transactions on your Account by giving power
of attorney to another individual. The Account owner and person executing power of attorney over a
deposit account is known as the “Principal.” The person granted Power of Attorney for the Principal is
known as the “Agent.” Do not sign a power of attorney unless you trust the Agent to act in your best
interest. If you choose to add an Agent, you must provide a power of attorney form that we agree to
accept. We may rely on a copy of an original power of attorney. We are not required to investigate the
facts relating to any power of attorney provided to us on your behalf, including whether your signature
on the power of attorney is authentic or whether the agent continues to have authority. We may refuse
to accept a power of attorney for reasonable cause, and we may require the Agent to sign an affidavit
stating that the power of attorney presented to us is a true copy and that, to the best of the Agent’s
knowledge, the Principal continues to be alive and competent and that the relevant powers of the Agent
have not been amended or terminated.

The Principal is responsible for providing us with any information if an affidavit presented to us
is untrue or misleading or if the Agent exceeds the authority granted by the Principal in the power of
attorney. The Agent is required to notify us in writing if the Principal dies or is declared incompetent.
The power of attorney will continue in force until a) we receive written revocation from the Principal;
b) we receive written notification of the Principal's death, or c) we receive written notification of the
death or incapacity of the Agent. We may follow or refuse to follow the Agent’s instructions at any
time, including if we suspect fraud or abuse on your Account, unless state law requires otherwise. We
may also refuse an Agent’s request to become a joint owner or a beneficiary of an account, but we have
no liability to anyone if we do so. We have no liability when we follow or refuse to follow any
instructions from an Agent, including if your agent misuses the authority you have given them. An
Agent’s power of attorney on an account is terminated when the Principal dies.

▪ 5. Account Opening Procedures.

(a) SoFi Bank Customer Verification.

To help the government fight the funding of terrorism and money‐laundering activities, federal
law requires that SoFi Bank establish, document and maintain a “customer identification program”
through which it will obtain, verify, and record information that identifies each person who opens an
Account. Therefore, when you opened your Account you were asked for your name, address, date of
birth, and other information that will allow SoFi Bank to identify you. You certify that the information

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contained in your Account application, and any other documents that you furnish to us in connection
with your Account, is complete, true and correct.

At the time of Account opening and at any time while your Account is open, you hereby
authorize SoFi Bank to contact any individual or firm listed in your Account application or in any
ancillary documents you provide, and to make any inquiries we consider necessary or appropriate to
validate or authenticate your identity and Account information you provided against third‐party
databases or through other sources. You authorize anyone so contacted to furnish such information to us
as we may request, verify your identity, creditworthiness and other information (and your spouse’s, if
you live in a community‐property state). To obtain verification, we may contact your employer (and
your spouse’s employer, if applicable), obtain consumer and credit reports, and make other inquiries,
but we are not obligated to do so.

We may ask you for further information and/or documentation about your identity or Account
usage or require you to take steps to confirm your email address, mobile telephone number or financial
information. We may also request copies of your driver’s license and/or other identifying documents.
Failure to provide this information in a timely manner may delay the opening of your Account, and we
may close your Account if you do not provide the requested information. By opening an Account with
us, you confirm that neither you nor any beneficial owner of any Account is covered by any sanctions
programs administered or enforced by the U.S. Department of the Treasury, Office of Foreign Asset
Control.

(b) Credit and Consumer Report Authorization.

You authorize SoFi Bank to obtain copies of your consumer and credit reports in compliance
with regulatory requirements at our discretion, at any time, for reasons including, but not limited to: (i)
to collect a debit balance or any amount owed in connection with your Account; (ii) to investigate,
detect and prevent fraud involving you or your Account; (iii) to determine whether to grant, extend or
modify the terms and conditions of any credit you have applied for or received; (iv) to conduct a
pre-qualification for any consumer loan products offered by SoFi Bank or its affiliates or to solicit you
for any other financial products and services offered by SoFi Bank or its affiliates; or (v) assisting SoFi
Bank in evaluating whether to open, close or suspend your Account, or for any other lawful purpose.
We may, for any reason in our sole discretion, deny your application to open an Account, close your
Account, or decline to offer you certain services available to SoFi Bank Customers.

(c) Important Information Needed to Open New Accounts.

You acknowledge that this Agreement and your Account may be subject to U.S. economic
sanctions and embargo laws, including, but not limited to, the Trading With the Enemy Act, and the
International Emergency Economic Powers Act, orders and regulations issued pursuant to those acts,
and similar laws, violations of which may be subject to U.S. civil and criminal penalties. You
specifically represent and warrant that you have not been designated by the OFAC as a Specially
Designated National or blocked person, that you have no reason to believe that you would be
considered a blocked person by OFAC, and that you are not acting as agent of any such person. You
further represent and warrant that you are not employed by, acting as agent of or partially owned or
controlled by a government, a government‐controlled entity or a government corporation except as you
have indicated on your Account application.

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D. Duty to Promptly Update Contact Information.

To timely receive Account Disclosures, Account Statements and other information, you must
ensure that the mobile phone number, email address, physical street address and mailing address that
you provided as part of your application remain current at all times.

You agree to promptly update the “My Profile” section of your Account to update any changes
to the contact information you have provided in your Account Application. In addition to promptly
updating your contact information, you must ensure that your laptop, tablet, smartphone or other device
used to access your Account will permit you to receive, open and view (and if desired, store and print)
the Disclosures we will send to you by email or otherwise.

Since our ability to deliver Account Statements, Disclosures, account security alerts and other
important information, is directly contingent on the accuracy and validity of the mobile phone number,
email address, physical street address, and mailing address you provide, if your contact information
remains invalid for a period of ten (10) days or more, SoFi Bank reserves the right to suspend your
Account until you have provided, and SoFi Bank has verified to its satisfaction, your updated contact
information. While your Account is suspended, SoFi Bank will not honor any debit or other outgoing
transactions, including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or other
similar transactions initiated by you. During any such suspension, SoFi Bank may continue to honor all
credit transactions, including deposits and incoming P2P Transfers. If you fail to provide updated
contact information within a reasonable time after a request, as determined by SoFi Bank in our sole
discretion, we reserve the right to close and terminate your Account in accordance with the procedures
set forth herein.

E. Sharing Information with SoFi Affiliates.

We may share information we have about you and your Accounts with SoFi’s affiliates. Please
refer to our Privacy Policy at https://www.sofi.com/privacy-policies, which is considered part of this
Agreement, for information about the categories of information we may share among our Affiliates and
how you may tell us not to share certain information.

F. Account Services Provided by SoFi’s Third‐Party Partners.

SoFi Bank has entered into arrangements with various SoFi Third‐Party Partners to provide
certain services to SoFi Bank Customers. By using your SoFi Bank Account and the related Account
services, you agree to terms and conditions that such SoFi Third‐Party Partners have determined apply
to such services, to the extent such terms and conditions are communicated to you in separate
Disclosures. To facilitate compliance with the applicable terms and conditions of any SoFi Third‐Party
Agreements and any legal requirements applicable to such services, you hereby appoint SoFi Bank as
your true and lawful attorney‐in‐fact, with full power to the extent permitted by law, to: (i) carry out
any of your obligations under this Agreement and any SoFi Third‐Party Agreements, (ii) act on your
behalf in connection with any future interactions with any SoFi Third‐Party Partner to the extent
necessary to resolve any disputed transaction with any merchant or SoFi Third‐Party Partner, (iii)
facilitate your instructions in connection with the Account, and (iv) otherwise act on your behalf with
respect to any action required to be taken by you hereunder or under the terms of any SoFi Third‐Party
Agreement.

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IV. Accessing Your SoFi Bank Account.

A. Access Methods.

You may access your Account online through a personal computer at www.sofi.com or through
the SoFi Mobile App via a personal computer or a mobile device, including a smartphone, tablet, or any
other eligible handheld or wearable communication device (the “Access Devices”). Please note that
certain Access Devices may not be available when using certain digital devices or applications. For
example, some functions may be available online through a personal computer but not available
through the SoFi Mobile App.

SoFi is committed to keeping your money safe. For the safety and security of our members’
information, SoFi will never ask you for your password or login credentials, and you should not share
this information with a third party. You will choose your own password (we will never suggest one),
and we will never ask you to provide two-factor authentication information over the phone. Please be
sure to keep this account information secure. All messages containing sensitive data with us will be
sent through secure platforms, not social media.

If you encounter a suspicious contact or receive requests asking for your two-factor
authentication code or password changes that claim to be from SoFi, please do not respond. You should
disconnect and call us to report it immediately at (855) 456-7634.

B. Hardware Requirements.

In order to access your Account, you need the following: (i) computer, tablet, smartphone or
other device with an Internet connection which is capable of high‐security 256‐bit encryption (SSL);
(ii) a current web browser with cookies enabled; and (iii) a valid email address on file in your Account
profile. You are responsible for the installation, maintenance, and operation of your computer and
software. If you use a spam blocker, you must add www.sofi.com to your email address book or
allowlist. SoFi Bank highly recommends that you also have (a) a camera enabled smartphone, tablet or
other device to facilitate use of the Mobile Deposit feature; and (b) access to a printer or online storage
capability to facilitate printing and/or storing this Agreement, your Account Statements, and any
Disclosures or other documents provided to you.

C. SoFi Mobile App Technical Requirements.

You may access your Account using your tablet or smartphone or similar device by
downloading the SoFi Mobile App, which is available through the Apple App Store and Google Play.
You acknowledge that use of the SoFi Mobile App is subject to the Terms of Use associated with the
SoFi Mobile App.

In order to use the SoFi Mobile App, you must have an Apple iOS or Android tablet or other
smartphone capable of installing and running the SoFi Mobile App (see Terms of Use details for
specific hardware and OS requirements). Certain features of the SoFi Mobile App, such as the Mobile
Deposit feature, require that your device be equipped with a camera capable of taking photographs with
minimum resolutions as set forth in the SoFi Mobile App Terms of Use.

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D. Third‐Party Electronic Funds Transfer and Wallet Services.

You may link your Account to a third-party service to facilitate electronic fund transfers (e.g.,
Mastercard Send, etc.) to fund your Account. You may also choose to link your SoFi Bank Debit Card
to a third‐party digital wallet or payment service provider (e.g., Apple Pay, Samsung Pay, etc.), subject
to the terms of the SoFi Bank Mobile Wallet Agreement. Such third‐party electronic funds transfer, or
digital wallet service provider may enable you to use your Account or SoFi Debit Card to make
payments, purchases, or complete other transactions using the provider’s internet or mobile application.
In subscribing to such services, you may be required to agree to the terms and conditions of the
electronic funds transfer service or digital wallet provider, as applicable. By subscribing, you further
consent to SoFi Bank and its Third-Party Partners providing to such electronic funds transfer service or
digital wallet provider, information requested about your Account, as required to permit use of your
Account or SoFi Debit Card with such services. None of SoFi Bank nor any of its Third-Party Partners
is responsible for the performance of, or security provided by, such services. In addition, we are not
responsible for any failure of the service provider to properly function or for any errors or delays
caused by or your inability to use the service for any transaction.

E. Third‐Party Agreements.

Your ability to access and use your Account will also be dependent on services provided by
various third parties such as your Internet service provider, your mobile phone carrier, and other third
parties that provide or support the hardware or software needed to access your Account online. You
agree to comply with the terms of any related Third‐Party Agreements you have with such providers
and acknowledge that SoFi Bank does not control the products or services provided by such third
parties and has no responsibility for the quality of the services or products provided by them. You
further acknowledge that SoFi Bank has no liability to you for any losses or damages you may sustain
in the event you are unable to access your Account or execute a transaction, to the extent caused by the
failure of any such third‐party to properly maintain or timely deliver its services or products.

F. Third‐Party Fees.

There are no fees charged by SoFi Bank to access your Account online or via the SoFi Mobile
App; however, you may incur charges from your Internet or mobile service provider for downloading
the SoFi Mobile App or sending or receiving data related to Account transactions (e.g., uploading
check images using the Mobile Deposit feature). Please check the agreements with your Internet or
mobile service providers for details on any applicable charges or fees.

V. Deposits to Your SoFi Bank Account

Deposits are subject to limitations specified in this Agreement. In addition to any of the
limitations specified in this Agreement, we may further restrict or limit your ability to receive deposits
when we reasonably believe there may be fraudulent, suspicious, or illegal activity on or impacting
your Account.

A. Initial Funding of Your Account

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 There is no minimum deposit requirement to open a SoFi Bank Account. SoFi Bank reserves
the right to close any Account which has not been funded within thirty (30) days after the date of
Account opening. There are several ways to deposit funds into your SoFi Bank Account, as set forth in
Section V.B below. You may also be able to fund your SoFi Bank Account using Instant Funding,
which is a one-time option to use an existing debit card issued by a U.S. bank, to deposit up to
$500.00.

B. How Deposits May Be Made

1. Direct Deposits

You can use the direct deposit feature to facilitate a deposit to your SoFi Checking or Savings
account, including payroll, pension, or government payments (e.g., Social Security) made by your
employer, payroll or benefits provider or government agency via the ACH Network. Deposits that are
not from an employer or government agency, including but not limited to check deposits, peer-to-peer
transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from
PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts,
do not constitute direct deposit. You may confirm that a direct deposit has been made by accessing your
Account online, through the SoFi Mobile App, or by calling us at the number listed on the SoFi Bank
Contact Sheet at https://www.sofi.com/contact-us/. Please note that your eligibility to use certain
Account features and/or to earn certain Account benefits may be dependent on having established and
maintained direct deposit for some period of time, as defined by SoFi Bank.

2. ACH Transfers from Other Financial Institutions

You can arrange to transfer money via the ACH Network to your SoFi Checking or Savings
account from another financial institution. Credit for an ACH transfer is provisional until final payment
is received by the receiving depository financial institution. Until that happens, the party originating the
transfer is not deemed to have made payment to the beneficiary, and the receiving depository financial
institution is entitled to a refund of the provisional credit. If we give you provisional credit for an ACH
transfer but do not receive final payment, you become obligated to us for the full amount without prior
notice or demand. Please note that when we receive an electronic deposit to your Account, we will not
send a separate notice regarding the deposit, but it will be reflected on your next statement. You may
visit www.sofi.com or the SoFi Mobile App, or call us to confirm that we have received a deposit. If the
bank that sent an electronic deposit to your account tells us it was a mistake, or was intended for
another customer or account, we will investigate and may deduct the amount from your balance.

3. Wire Transfers

SoFi Bank Customers may deposit funds into their Checking or Savings account via domestic
wire transfers initiated at other financial institutions or third party entities using only the FedWire
Funds Service.

4. Internal Transfer Between Accounts at SoFi Bank

SoFi Bank Customers can instantly transfer cash to each other online or through the SoFi
Mobile App via the SoFi Bank P2P Transfer Service. The P2P Transfer Service can only be used to

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transfer funds to or from a SoFi Checking account. No transfers via the SoFi Bank P2P Transfer
Service are permitted outside of the United States.

5. Mobile Check Deposits

You can deposit checks into your SoFi Checking or Savings account remotely using your
smartphone, tablet or other camera‐enabled device by accessing the Mobile Deposit feature of the SoFi
Mobile App. SoFi Bank does not accept physical checks for deposit in-person, by mail, by night
depository or any other means. To activate the Mobile Deposit feature, your SoFi Account generally
must have received deposits totaling at least $500 since your Account was first opened. The precise
amount of deposits required for your Account will be determined by SoFi based on your Account
history and other information. SoFi shall notify you of the precise amount of deposits required within
the Mobile Deposit flow. SoFi reserves the right to adjust this threshold at any time. You can only
deposit mobile checks into your SoFi Account that are denominated in U.S. Dollars and are drawn on
U.S. depository institutions (including a U.S. branch of a foreign bank).

All checks deposited via the Mobile Deposit feature must be endorsed. An endorsement is a
signature, stamp or other mark made on a check to transfer the check to another person. If a check you
deposited does not have your endorsement, we may endorse it for you or treat the check as if we had
endorsed it. Also, any deposited check that appears to contain your stamped or facsimile endorsement
will be treated as if you had actually endorsed it. We are not bound by any conditional or restrictive
endorsements on a check you cash or deposit, or by any endorsement “without recourse.” You may not
deposit third‐party endorsed checks (i.e., a check originally made payable to another person that has
been endorsed to you) into your SoFi Bank Account.

When depositing a check via Mobile Deposit, we require that you add the notation “For Mobile
Deposit only at SoFi Bank” to your endorsement of the check. Once you have deposited a check via
Mobile Deposit, you agree to retain the original paper check in a safe place for thirty (30) days in case
there is any issue with reading the uploaded check image or otherwise in processing the check, after
which time you will destroy the original paper check.

For all checks deposited via Mobile Deposit, you represent and warrant that neither you nor
anyone else has previously presented the check for deposit or payment, whether in paper form or
electronically, and you agree that no one will in the future present such check for payment, in paper
form or electronically, except to the extent SoFi Bank requests that such item be redeposited. In the
event a check is deposited via Mobile Deposit without the restrictive endorsement “For Mobile Deposit
only at SoFi Bank” or is otherwise deposited via Mobile Deposit and subsequently deposited through
another financial institution, you will be liable for any losses, penalties and fees incurred in connection
with such subsequent deposit. If you do not endorse your check properly and it causes us a loss, cost or
expense, you may have to pay that amount to us.

You can request the cancellation of a pending mobile check deposit by calling us or through
SoFi chat, provided that the request is received by SoFi Bank within the following timeframes. If you
deposit a mobile check before 5:30 p.m. ET on a Business Day, you must notify SoFi Bank by 5:30
p.m. ET on the same day to successfully cancel the mobile check deposit. If the deposit is made on a
non-Business Day, you must notify SoFi Bank by 5:30 p.m. ET on the following Business Day to
successfully cancel the mobile check deposit. If you request the cancellation of a pending mobile check

15
deposit, we will attempt to cancel such pending mobile check deposit but cannot guarantee that it will
be canceled.

6. Cash

You can deposit cash directly to your SoFi Checking Account using your SoFi Debit Card
through a retail merchant that participates in the Green Dot Reload @ the Register program. You can
make up to two deposits per day. Deposits are subject to the following limits set by Green Dot: (a)
$500 per deposit transaction, (b) $1,000 in deposits per day, (c) $3,000 in deposits per week, and (d)
$5,000 in deposits per month. Notwithstanding the foregoing, individual retailers have the right to
establish lower limits. Participating retailers may charge a service fee for each deposit. Participating
retail locations can be found at https://secure.attheregister.com/locations. This feature is currently not
available for SoFi Savings Accounts.

C. General Deposit Restrictions

We may refuse a deposit, or part of a deposit, at any time. We also may refuse a deposit after
initially accepting it. We do not accept third-party deposits in any form (i.e., deposits not in the name of
the account holder). We can reverse any amount we have added to your balance for a deposited mobile
check. We will not be liable to you for refusing a deposit, even if it causes us to decline any
transactions you have already made. If we refuse a deposit, we may take a mobile check on a
“collection basis” which means we will not add funds to your balance until we have actually been paid
for the mobile check. SoFi Bank does not accept physical checks for deposit in-person, by mail, by
night depository or any other means.

If you deposit a mobile check or other item and (i) the paying bank returns it to us unpaid; (ii)
the paying bank or the issuer of a check demands that we repay them because the check was altered,
forged or unauthorized, is missing a signature or endorsement, or has a forged endorsement; or (iii) the
sending bank or the originator of an item 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 or demand, and subtract
the funds from your balance in other accounts for which you are an owner, or charge part of the item to
each, even if you have already withdrawn the funds. If we have reason to believe that any of the events
in the previous sentence has occurred or may occur or that the check or other item should not have been
paid or may not be paid for any other reason, we may place a hold on the funds or move them to a
non-customer account until we determine who is entitled to them.

D. Funds Availability Policy

1. Funds Availability

Subject to the restrictions set forth in this Agreement, each mobile check or instrument you
deposit will be promptly credited to your Account and made available in accordance with the
timeframes described below. Once the funds are available, you can withdraw them in cash, and we will
use them to pay checks that you have written. Although you may view your Account information on the
SoFi Mobile App, on www.sofi.com, or at an ATM, the information provided through any of these
means may not include funds that are not available for immediate withdrawal. Notwithstanding the
foregoing, SoFi Bank reserves the right to delay making deposited funds available to the extent we
determine that additional time is needed to verify information about the item or the sender.
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 2. Day of Deposit

If we receive an ACH deposit before 6:00 PM ET on a business day or a mobile check deposit
before 4:00 PM ET on a business day, we will consider that business day to be the day of your deposit.
However, if we receive an ACH or mobile check deposit after these cut-off times, or on a non-business
day, we will treat the deposit as having been made on the next business day. For purposes of this Funds
Availability policy, a “business day” is any day of the week except Saturday, Sunday, and Federal
Reserve holidays.

Type of Deposit Time of Deposit Posting

Before 6:00 p.m. ET on business day Day of Deposit
ACH Deposit After 6:00 p.m. ET on business day or on Next business
non-business day day
Before 4:00 p.m. ET on business day Day of Deposit
Mobile Check
After 4:00 pm. ET on business day or on Next business
Deposit
non-business day day

3. Delayed Availability

We may delay availability for the full amount of a mobile check. Reasons for such a delay may
include but are not limited to: (i) you deposited mobile checks totaling more than $5,000 in any one
day; (ii) you have overdrawn your Account repeatedly in the last six (6) months; (iii) there is an
emergency, such as a failure of communications or of our systems; (iv) we believe a mobile check you
deposited will not be paid; or (v) you redeposit a mobile check that has been returned unpaid. We will
notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you
when the funds will be available. In the event that we do delay availability, the funds will generally be
available no later than the 9th business day after the day of your deposit. The estimated current timeline
for funds availability for a mobile check deposit can be found in the SoFi Mobile App at the time of
your deposit. If you will need the funds from a deposit right away, you should ask us when the funds
will be available by contacting us by any means set forth on the SoFi Bank Contact Sheet at
https://www.sofi.com/contact-us/.

4. Availability of ACH Transfers

Generally, ACH deposits originating from SoFi will be available the third business day after the
day of deposit. A portion of the deposit may be made available earlier.
ACH Deposits that are initiated through another bank will generally be available on the next
business day after the day the ACH Transfer is deemed to be received by SoFi but may be available
earlier. An ACH is deemed to be received by SoFi when SoFi has received both payment in actually
and finally collected funds. Direct deposits, as defined by SoFi, will be available on the day we receive
notification of the deposit from the Federal Reserve, employer or payee, which is often up to two days
before the scheduled payment date but may vary. Please note that if your initial deposit to your SoFi
Bank Account is an ACH transfer from a linked account at another financial institution that you own or

17
from which you have the legal authority to transfer funds, SoFi Bank reserves the right to place a hold
on such transfer or to return the payment to the sending institution.
5. Availability of Mobile Check Deposits

Generally, mobile check deposits will be available no later than the fifth business day after the
day of deposit. A portion of the deposit may be made available earlier. Please note that checks
deposited using our Mobile Deposit feature are not subject to the funds availability requirements of
Regulation CC. This will be true even if we provide you with Regulation CC disclosures or notices. We
reserve the right to place an extended hold on your deposited funds. The estimated timeline for funds
availability for a mobile check deposit can be found in the SoFi Mobile App at the time of your deposit.
In certain cases, we may need additional time to process your mobile check, which could delay funds
availability.
6. Availability of Wire Transfers
Funds from wire transfers to your Account that you initiate through another bank will be
available on the business day after we receive the deposit. A wire transfer is deemed to be received by
SoFi when SoFi has received both payment in actually and finally collected funds.
7. Availability of Cash Deposits
Cash deposited to your SoFi Checking Account through a retail merchant that participates in the
Green Dot Reload @ the Register program will typically be available within two hours after deposit.

VI. Withdrawing Cash or Transferring Funds from Your SoFi Bank Account

There are several ways you can withdraw cash or access the money in your SoFi Bank Account.

A. There are several ways you can withdraw cash or access the money in your SoFi Bank
Account. For example:

● Online Banking and SoFi Mobile App. You may use www.sofi.com or the SoFi Mobile App to
view your Checking and Saving account information, transfer funds between your SoFi Bank
Accounts, pay loans or credit cards, or make payments to third parties. You must agree to any
additional disclosures and specific terms for using these services when you enroll.
● ATM Withdrawals (Checking Accounts Only). You may withdraw cash from your Checking
Account at any ATM that accepts Mastercard or which supports either Maestro or Interlink
systems.

a. Account holders will not be charged ATM transaction fees while using AllPoint ATMs.
Current locations for AllPoint ATMs can be found using the SoFi Mobile App.

b. Account holders will be responsible for any fees charged by ATM operators when
using ATMs which are not in the AllPoint network, including fees for balance inquiries
even if you do not complete a cash withdrawal.

Note: SoFi Bank may, at any time, in its sole discretion (or based on changes agreed to with

18
 AllPoint), limit, suspend, change or terminate this ATM policy.

● P2P Transfers (Checking Accounts Only). You can send money to other SoFi Bank account
holders or SoFi Money account holders or persons with accounts at other U.S. financial
institutions using the SoFi Bank P2P Transfer Service. No P2P Transfers are permitted outside
of the United States. For additional details, see Section VII herein.

● Check Writing (Checking Accounts Only). You can write checks using your SoFi Checking
Account checkbook. For additional details, see Section VI.E herein.

● Bill Pay Payments (Checking Accounts Only). You can pay bills electronically using the SoFi
Bank Bill Pay Service. For additional details, see Section VIII herein.

● Wire Transfers (Checking Accounts Only). You may send money via outgoing domestic wire
transfer using the FedWire Funds Service to an account at a bank located in the United States in
U.S. dollars only. SoFi Bank does not permit wire transfers outside of the United States or in
foreign currencies. Please note that prior to releasing a wire transfer, we may call you back at
the number on file to require complete verification of the wire details. For additional details, see
Section IX herein.

● Zelle (Checking Accounts Only). SoFi Checking account holders that meet certain eligibility
criteria may send and receive money to other SoFi accounts and/or accounts at other financial
institutions using Zelle®. For additional details, see Section X.

● Electronic Transfers and Preauthorized Transfers.

a. You can transfer money from your SoFi Bank Account to a linked account you have at
another financial institution by accessing your Account online or through the SoFi
Mobile App. You may make ACH transfers with external bank accounts to and from
your Checking and Savings Accounts but not from a Vault.

b. You may authorize a third party to transfer funds to or from your account by providing
your Account number and your routing number. These transfers may use various
payment networks and may take various forms, such as (a) employer payroll,
government benefits or other direct deposits; or (b) one-time or recurring charges to
your Account for a utility payment or to pay other bills.

● Potential Delays of Withdrawals or Transfers. We may delay a withdrawal or transfer in certain

situations, including to confirm that the transaction has been authorized by you or if other
credits to your SoFi Bank Account have been reversed (for example, as a result of a chargeback,
bank reversal or disputed transfer or other transaction). If we delay a pending withdrawal or
transfer or limit your ability to make a withdrawal or transfer, you may be required to reinitiate
the transaction once the limitation has been lifted.

B. Electronic Funds Transfer Authorization

I acknowledge that SoFi Bank allows me to: (i) electronically transfer funds via ACH between
my SoFi Bank Account and my external account(s) at other financial institutions, once I have

19
successfully registered such external account(s); and (ii) set up recurring bill payments from my SoFi
Bank Account to a third-party payee, once I have successfully set up such payee. I agree that I will
provide the routing/transit number, account number, and type of account at the time of any such ACH
transfer request, or will otherwise supply that information via a method approved by SoFi. I authorize
SoFi to: (i) to execute micro credits and/or micro debits when adding new external accounts; (ii) to
initiate withdrawals from any external account indicated upon submission of an ACH transfer request;
and/or (iii) to withdraw selected amounts at any interval requested in my recurring Bill Pay Payment or
recurring external transfer.

I hereby represent and warrant that I have all necessary rights, power, and authority to debit and
credit my registered external accounts that may be identified in any transfer order being executed. I
further represent and warrant that I will only enter information into transfer orders that is both complete
and accurate. I agree that the ACH transactions I authorize will comply with all applicable law. I
acknowledge that the origination of ACH transactions must comply with the provisions of applicable
law and the rules of NACHA. I agree to request that the financial institution(s) that holds my external
account(s) honor all transfers in accordance with this authorization.

Should there be any errors in connection with an ACH transaction that debits or credits my
external account(s) or my SoFi Bank Account, such as an incorrect amount or duplicate transactions, I
authorize SoFi to debit or credit my funding account or my SoFi Bank Account as needed to correct
any such errors. This authorization is to remain in full force and effect until either (i) I have canceled
my authorization through Autopilot or (ii) SoFi Bank has received written notification from me of its
termination in such time and in such manner as to afford SoFi a reasonable opportunity to act on it. I
will send any such notice to: SoFi Bank, N.A., 2750 East Cottonwood Parkway #300, Cottonwood
Heights, Utah 84121.

C. Notice of Withdrawal Requirements for Savings Accounts.

Although we have no intention of exercising this right, pursuant to federal law, SoFi Bank
reserves the right to require you to give us written notice of your intention to make a withdrawal from a
Savings Account seven (7) days before the withdrawal is made. By permitting you to make a
withdrawal from a Savings Account without requiring seven (7) days’ notice, we are not waiving our
right to require the notice.

D. Transaction Limits for Deposits, P2P Transfers, and ATM Withdrawals.

SoFi Bank establishes daily and monthly limits on the dollar amounts and volumes of certain
Account transactions, including deposits, ATM withdrawals and P2P Transfers. These limits can be
found on the “SoFi Bank Transaction Limits” page at https://www.sofi.com/banking/limits/. SoFi Bank
reserves the right to at any time adjust, at its discretion, the dollar amounts or transaction limits
permitted for specific Account activities.

E. Check Writing (Checking Accounts Only)

Your SoFi Checking Account comes with check‐writing privileges. A check will be paid only
to the extent that there are available funds in your account to cover the full amount of the check at the
time it is presented for payment; checks presented for payment against insufficient funds will be
returned unpaid. You agree that neither SoFi Bank nor any SoFi Third‐Party Partners, including any of
20
their affiliates, directors, officers, employees, agents, or contractors, will be liable for any fees,
penalties, or other damages resulting from dishonored checks resulting from insufficient funds.

You acknowledge that we will not provide you with copies/images of your paid checks with
your Account Statement. If you wish to view images of checks that you have written and that have been
paid against your Account, you may do so by logging onto your Account or by using the SoFi Mobile
App. You may also request copies of checks you have written and that have been paid by contacting
SoFi Bank at the phone number listed on the SoFi Bank Contact Sheet. Please refer to the SoFi Bank
Fee Sheet for information regarding any fees associated with requesting check images.

You agree that when we make available to you your Account Statement reflecting that one or
more checks have been paid during the statement period, you will review such checks using the
methods provided for in this subsection to ensure that they were paid in accordance with your
instructions and will notify us promptly of any possible irregularities. Failure to do so may result in a
loss to you. Refer to Section XVIII, “Account Inquiries and Disputes; Error Resolution.” for a
description of your rights and the process for resolving any suspected errors.

1. Electronic Presentment of Checks.

We may charge your Account on the day that a check or other transaction is presented (or
returned) to us directly or electronically for payment. We may charge your Account or place a hold on
funds at an earlier time if we receive notice that a check or other item deposited to your Account is
being returned, or if we receive notice that your check or electronic payment (e.g., at a point-of-sale) is
being processed for collection. Please note: Some merchants may obtain authorizations in advance for
point-of-sale transactions in an amount greater than the final transaction amount. You agree that we
may place a hold on sufficient funds to cover the amount of the authorized transaction, pending its final
settlement through the system even if that amount exceeds the actual amount of the transaction. This
could affect the balance available to cover other transactions.

2. Stop Payment Requests.

You may request that SoFi Bank issue a stop‐payment order on a check that you have issued
and that has not already been paid, certified, or accepted by SoFi Bank or a SoFiThird‐Party Partner
processing our checks. However, the stop payment will not be effective if we have already certified,
paid or otherwise become responsible for the check. For example, we cannot stop payment on a check
that we have already cashed or a deposited check where the funds have already been withdrawn. To
request a stop‐payment order, you must call us at 1‐855‐456‐7634 and provide us with your Account
number, the check number, the payee name, the precise amount of the check, the date written on the
check, and any other information that we may require. We may request that you confirm this
information in writing. Failure to provide this information accurately may prevent us from stopping
payment on the check, and you agree that neither SoFi Bank nor any SoFi Third‐Party Partner,
including any of their affiliates, directors, officers, employees, agents, or contractors, will be liable for
any loss or damage caused by our inability to stop payment of a check based on incomplete or
inaccurate information received from you. We may refuse a payment to a payee with a similar name
that we believe to be the same payee; however, we are not liable if we do not refuse the payment. We
may send you a written confirmation of your stop payment. We may rely on the information in the

21
confirmation unless you notify us immediately of any errors. When the stop payment order expires, we
may pay the item and have no duty to notify you.

We must receive your request to stop payment on a check in sufficient time to allow us to act on
the request, and you agree that neither SoFi Bank nor any SoFi Third‐Party Partner, including any of
their affiliates, directors, officers, employees, agents, or contractors, will be liable to you or any
third‐party for any losses or damages arising out of your submission of a stop payment request with
insufficient time to allow us to act on the request. Stop‐payment requests received after the cut‐off
time will not be processed until the next Business Day. A stop‐payment order will remain in effect for
one year (even if the check is presented more than once while the stop-payment order is in effect) and
will then expire unless you renew it. By requesting a stop‐payment order, you agree that in no event
will SoFi Bank or any SoFi Third‐Party Partner, including any of their affiliates, directors, officers,
employees, or agents, or contractors be liable to you or any third‐party for acting or failing to act on
such a request. Stop‐payment requests may be subject to the fees set forth on the SoFi Bank Fee Sheet
at www.sofi.com/legal/banking-fees/.

3. Stale and Post‐Dated Checks.

If a check dated more than six (6) months ago (i.e., a stale check) is presented for payment
against your Account, SoFi Bank reserves the right, at its discretion, to pay the check upon presentment
and deduct funds from your Account, notwithstanding that the check is stale. If a check bearing a date
in the future (i.e., a post‐dated check) is presented for payment against your Account prior to the date
of the check, SoFi Bank reserves the right, at its discretion, to pay the check upon presentment and
deduct funds from your Account, notwithstanding that the check bears a date in the future. If you do not
want us to pay a stale or post‐dated check you may request that a stop‐payment order be placed on any
such checks by contacting SoFi Bank as described above. You otherwise agree to release SoFi Bank
and any SoFi Third‐Party Partners including any of their affiliates, directors, officers, employees,
agents, or contractors, from loss, damage or other liability related to honoring, or refusing to honor, a
stale or post‐ dated check and to indemnify and hold harmless SoFi Bank and any SoFi Third‐Party
Partner, including any of their affiliates, directors, officers, employees, agents, or contractors, from any
costs or claims associated with decisions to honor, or refusing to honor such checks.

4. Returned Checks Deposited in Your Account.

If a check deposited to your Account is returned unpaid, the deposit will be reversed, and the
corresponding funds deducted from your Account balance. In the event you have been credited for, or
received, interest on a deposit that does not clear or that is later invalidated or reversed, the amount of
interest paid or credited to your Account on such funds will be deducted from your Account or, if there
are insufficient funds in your Account to cover the deduction, from any account that you hold with SoFi
or its affiliates. If there are insufficient funds in the accounts that you hold with SoFi and its affiliates,
you will be asked to repay such amounts, as applicable. If we have reason to believe that a deposit was
incorrectly credited to your Account, we may restrict your ability to access or use such amounts
pending our review of the transaction and/or return such amounts to the account from which it was
transferred.

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 5. Review of Checks and Signatures

Check payment is highly automated. If we return a check based on our review of the signature,
we are not liable to you even if you authorized the check. If the numeric amount on a check doesn’t
match the amount written out in words, we may select either one when paying it. We have no duty to
prevent a check from being presented more than once.

F. The “Good Funds” Model; Overdraft Coverage; Posting Order; and Funds Availability.

1. Good Funds Model.

The SoFi Bank Accounts operate on a “good funds” model. Except as provided under
‘Overdraft Coverage”, you may only spend, withdraw, transfer, or otherwise use funds in your Account
to the extent that there are cleared funds available in the Account for such transactions. This means that,
unless overdraft coverage applies, SoFi Bank will not process any transaction you initiate or schedule if
there are insufficient funds in your Account to complete the transaction at the time the funds are to be
deducted from your Account.

If you attempt to make an electronic transaction (e.g., ATM withdrawals, SoFi Bank Debit Card
purchases, P2P Transfers, wire transfers, etc.), and have insufficient funds in your Account, the
transaction will be declined. If you schedule a Bill Pay Payment, P2P Transfer or other payment to be
processed at a future date, you must ensure that there are sufficient funds in the Account on the date the
money will be withdrawn from your Account, or it will not be processed. Similarly, checks you have
written that are presented for payment against insufficient funds will be returned unpaid. As there is
often a delay between the date a check is written and when it is presented for payment, remember to
maintain sufficient funds in your Account to satisfy all outstanding checks that you have written. SoFi
Bank reserves the right to charge a fee for a declined payment or a returned check, or Bill Pay Payment
or P2P Transfer for which there are insufficient funds. SoFi Bank will deduct from your Account any
costs, fees or charges we incur in processing any returned check or declined payment. If there are
insufficient funds in your Account, the amount of any costs, fees or charges will be deducted from any
account that you hold with SoFi or its affiliates. In addition, third parties may assess you a fee or other
charge (such as penalty interest) for dishonored or late payments, which fees and charges are solely
your responsibility. SoFi Bank will not be responsible for any costs or losses you may incur (including
fees, costs, charges, attorneys’ fees, investment losses, claims, demands, or liability resulting from any
litigation or other actions) as a result of its decision to decline any Bill Pay Payment, P2P Transfer,
ATM withdrawal, etc., or its decision to not honor a check presented for payment or other transaction
because your Account has insufficient funds.

2. Posting Order and Processing.

Posting order is the order in which we apply deposits and withdrawals to your Account. We
provide you with visibility into how transactions are posted and in what order to help you better
manage your account. We process transactions each Business Day. For ACH transactions, we post
credit transactions to your Account in the order in which each credit transaction is presented to us or
our SoFi Third-Party Partner, followed by debit transactions in the order in which each debit transaction
is presented to us or our SoFi Third-Party Partner. For SoFi Bank Debit Card transactions, we post
credit transactions to your Account in the order in which each debit transaction is presented to us or our

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SoFi Third-Party Partner, followed by credit transactions in the order in which each credit transaction is
presented to us or our SoFi Third-Party Partner. Transactions will be honored to the extent your
Account has available funds (subject to Overdraft Coverage amounts, if applicable), to cover the full
amount of each transaction at the time it is received. If you use your SoFi Bank Debit Card to make a
purchase, ATM withdrawal, etc., the amount of the purchase or withdrawal will be immediately
deducted from your available funds when it is approved; such amounts will not be available to cover
other purchases, transfers, or withdrawals, including, but not limited to, any checks presented for
payment.

3. Items Paid Against Insufficient Funds.

We may pay or decline to pay any item when it is presented if your Available Balance is less
than the amount of that item plus all other items received but not yet paid. We will decline any
requested ATM withdrawal unless your Available Balance at the time is equal to or more than the
amount of the requested withdrawal. We look at your Available Balance only once when the item is
presented to us to decide if you have enough funds to pay the item.

It’s your responsibility to avoid overdrawing your Account. Even if we’ve paid Overdraft items
before, we are not required to do it in the future.

4. Negative Account Balances.

We pay Overdrafts at our discretion, which means we do not guarantee that we will always
authorize or pay any type of transaction. Even if we have paid Overdraft transactions before, we are not
required to do so in the future. In the event you have not opted into overdraft coverage for your
Account (discussed below), and we honor a transaction that results in an Overdraft, you agree to repay
such Overdraft within thirty (30) days along with any fees that apply. We may report you to consumer
reporting agencies, close your Account, or both, if you fail to repay the Overdraft. This could affect
your ability to open accounts or obtain other products with us or other banks in the future. You
authorize us to deduct the amount owed and resulting fees from any subsequent deposits to your
Account (including but not limited to a direct deposit of Social Security or any other state or federal
benefit payment) and to offset and deduct such amounts from any other account you may have with
SoFi. While your Account has a negative balance, SoFi Bank will not honor any debit or other
outgoing transactions, including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or
similar transactions related to your Account. SoFi Bank will continue to honor all credit transactions,
including deposits and incoming P2P Transfers. In the event a payment in excess of the negative
balance is not received within thirty (30) days after an Overdraft occurs, SoFi Bank reserves the right to
close your Account in accordance with the procedures set forth herein. You agree to pay all costs and
expenses we incur in collecting any Overdraft. We may pursue collection of the amount you owe
(including suing you) after it is charged off. We do not permit you to reopen an Account that was closed
due to a negative balance.

5. Insufficient Funds and Returned Item Fees.

We reserve the right to charge a fee for any item presented on a Business Day when your
Account is overdrawn, whether or not we pay the item. If we pay it, we reserve the right to charge an
Insufficient Funds Fee. If we return the item unpaid, we reserve the right to charge a Returned Item Fee

24
(even if we later decide to pay that item after we had initially decided to return it). Refer to the SoFi
Bank Fee Schedule for information about what fees apply and how fees are calculated for your
Account. We may limit the number of fees we charge in a single day for multiple returned items.

6. Overdraft Coverage.

SoFi Bank offers two optional overdraft features: (a) linking SoFi Checking and SoFi Savings
Accounts to cover SoFi Checking Account Overdrafts (“Overdraft Protection”), and (b) SoFi’s
Overdraft Coverage Option.

a. Overdraft Protection Through Linked Accounts.

This is an optional service you can add when you have both a Checking and Savings Account
by linking your SoFi Checking Account and your SoFi Savings Account. If you opt to link the
Accounts, we will use available funds in your SoFi Savings Account to pay Overdrafts in your SoFi
Checking Account. SoFi will not charge a fee for such transfers. Please note that the funds applied to
this overdraft protection feature will be limited to Savings Account deposits which are not allocated to
a Vault. If you accept a SoFi Bank Pay in 4 loan but have insufficient funds in your SoFi Checking
Account to complete any installment payment, SoFi Bank will use available funds in your SoFi Savings
Account to pay the outstanding amount. Please refer to the SoFi Bank Pay in 4 Terms and Conditions,
which can be found on the SoFi Mobile App and on the SoFi website, for additional details. You may
not disable overdraft protection until all authorized debit card transactions have settled.

b. Overdraft Coverage Option.

Overdraft Coverage is an optional overdraft feature offered to Checking account holders who
have at least $1,000 or more in monthly direct deposits set up on their Account. SoFi Checking account
holders who qualify, will automatically be enrolled in Overdraft Coverage, however account holders
may opt-out of this feature through the SoFi Mobile App or website. SoFi Checking account holders
who do not opt-out will receive up to $50 of overdraft coverage on SoFi Bank Debit Card purchases
only. This feature does not apply to P2P Transfers, Bill Payments, checks or other types of transactions.
There are no fees or interest associated with the Overdraft Coverage Option. Account holders who
accept and use the Overdraft Coverage feature agree to allow SoFi Bank to honor a transaction that
results in an Overdraft and deduct the amount of the Overdraft from their SoFi Bank Account when a
subsequent deposit is made. In the event the covered Overdraft is not repaid within thirty (30) days, the
customer will no longer have access to Overdraft Coverage. SoFi Bank reserves the right to close your
Account if a payment in excess of the negative balance is not received within thirty (30) days after the
Overdraft occurs.

7. [RESERVED]

8. SoFi Debit Card Authorizations; Holds and Overdrafts (Checking

Accounts Only).

For SoFi Checking Accounts, unless Overdraft Protection or Overdraft Coverage is available,
we generally will not authorize SoFi Debit Card transactions if your Checking Account Available
Balance is not enough to pay that transaction and any fees.

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 When we give authorization for a purchase to a merchant, we will reserve or place a hold on
your Available Balance, generally for up to three (3) Business Days, for the amount of the authorization
until the merchant sends us the final payment amount of your purchase. Once the final payment amount
is received, the preauthorized amount on hold will be removed. If you use your SoFi Debit Card at a
restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be
preauthorized for the purchase amount plus up to 20% or more to ensure there are sufficient funds
available to cover tips or incidental expenses incurred. There may be delays of several days between the
authorization and the date the transaction is presented for payment, and your transaction may post to
your Account after the authorization hold has lifted.
We may authorize or refuse to authorize a transaction based on a different amount than the
authorization request, because some merchants request authorization for an amount that is unrelated to
the actual amount of the purchase (such as self-service fuel).

When we give authorization to a merchant for a purchase, your Available Balance will decrease.
But the authorization will not prevent certain items, such as ACH transactions and checks, from being
presented to your Account, which can leave your Account without enough funds to cover all of the
transactions presented against your Account. Be sure to keep enough funds in your Account to avoid
overdrawing your Account, including enough funds for previously authorized debit card transactions
not yet posted to your Account.

For some types of purchases we may place a hold for a longer period. Transactions relating to
car rentals may result in a hold for that amount of funds for up to sixty (60) days. There are times—for
example, at restaurants, hotels or car rental agencies—that merchants will not know the exact amount
of your purchase when they request the authorization. If the authorization is more or less than your
actual purchase amount, the hold may remain for a day or two even after your purchase amount has
been subtracted from your Available Balance. We will pay the purchase amount from your balance
whenever the merchant sends it to us, even if the hold has expired.
We can refuse to authorize any transaction when your SoFi Debit Card has been reported lost or
stolen or when we reasonably believe there may be fraudulent, suspicious or illegal activity. If you lock
your SoFi Debit Card, we will stop authorizing everyday debit card transactions and ATM withdrawals
but may still authorize recurring debit card transactions. Any physical SoFi Debit Card we issue to you
will be unlocked only when you activate it. If you do not wish to activate your SoFi Debit Card, please
destroy and discard it appropriately.
We may cancel your SoFi Debit Card at any time without notice. You may cancel your SoFi
Debit Card by calling us. If you do, please destroy your SoFi Debit Card upon cancellation.

9. Funds Transfer Service Terms: Payments, Deposits and Transfers You Make
or Receive by Electronic Methods.

We provide a variety of electronic funds transfer (“EFT”) services for SoFi Bank Accounts.
These include P2P Transfers, Bill Pay services, deposits and transfers that you make or receive by
electronic methods, such as with your SoFi Debit Card, through the SoFi Mobile App or through
www.sofi.com.

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 Funds transfers to or from your Account will be governed by the rules of any funds transfer
system through which the transfers are made (“System Rules”), including Fedwire, the National
Automated Clearing House Association (“NACHA”), the Electronic Check Clearing House
Organization, any regional association (each an ACH), the Clearing House Interbank Payments System
(“CHIPS”), the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and the
RTP system (“RTP System”). We are under no obligation to honor, in whole or in part, any payment
order or other instruction that could result in our contravention of applicable law, including, without
limitation, OFAC requirements.

VII. SoFi Bank P2P Transfer Service (Checking Accounts Only).

A. Overview of the SoFi Bank P2P Transfer Service.

The SoFi Bank P2P Transfer Service is designed to facilitate P2P Transfers between SoFi Bank
or SoFi Money Customers and between SoFi Bank Customers and persons with accounts at other
financial institutions..

In order to use the SoFi Bank P2P Transfer Service, your SoFi Bank Account must be in good
standing and you must have sufficient funds in your Checking Account to cover the Payment Amount
to be transferred.

B. Limitations on the SoFi Bank P2P Transfer Service.

1. Personal Use Only.

The SoFi Bank P2P Transfer Service is intended for personal use and is not to be used for
commercial purposes. SoFi Bank Customers who wish to pay bills should use the SoFi Bank Bill Pay
Service rather than the SoFi Bank P2P Transfer Service.

2. Domestic Payments Only.

The SoFi Bank P2P Transfer Service can be used for domestic payments only. It cannot be used
to transfer money to accounts located in foreign countries.

C. Estimated Timing for P2P Transfers.

1. P2P Transfers Between SoFi Bank and/or SoFi Money Customers.

P2P Transfers between SoFi Bank Customers or SoFi Money Customers will occur on the day
the Payment Instructions are received, whether or not the Payment Instructions are received prior to the
cut‐off time.

2. P2P Transfers to Recipients at Third‐Party Financial Institutions.

P2P Transfers to recipients at third‐party financial institutions will occur via ACH. Upon
receipt of your Payment Instructions, SoFi Bank will contact the recipient to confirm certain account
details. If the recipient provides the requested information before the cut‐off time, the P2P will be sent

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on the same Business Day. Once sent, most recipients receive ACH transfers within two (2) Business
Days. Please note that the timing of the availability of an ACH transfer to a recipient at a third‐party
financial institution is determined by the policies of the recipient’s financial institution for processing
and accepting such transfers. Therefore, the timing of the ultimate receipt and availability of a P2P
Transfer sent by ACH is not controlled by SoFi Bank.

D. Rejected P2P Transfers.

When you send a P2P Transfer, neither the recipient nor the recipient’s financial institution is
required to accept it. In the event a P2P Transfer is not accepted by the recipient or his/her financial
intuition for any reason, the proposed Payment Amount will be refunded to your SoFi Bank Account or,
if the transfer has not yet been initiated, any hold placed on your Account with respect to the proposed
Payment Amount will be released. SoFi Bank cannot guarantee the prompt return of funds from
third‐party financial institutions after rejection by a recipient or his/her financial institution. SoFi Bank
is not liable for any damages you may sustain in the event a recipient or his/her financial institution
rejects a proposed P2P Transfer.

E. P2P Payment Reversals and Claims; Errors.

In the event a sender later disputes a P2P Transfer to you or makes a claim though his/her
financial institution for a refund or reimbursement with respect to an erroneous or disputed P2P
Transfer to you, the sender’s financial intuition—not SoFi Bank—will determine whether the dispute is
valid and to whom any payment or reimbursement is due. If a P2P Transfer sent to you by a third‐party
is later invalidated or reversed, you agree that SoFi Bank may, upon written notice to you describing
why the reversal is occurring, deduct from your Account the amount of such payment received, plus
any fees, penalties or other amounts due in connection with such payment. If there are insufficient
funds in your Account to cover the full amount due, you agree to pay any shortfall to SoFi Bank
promptly upon request. SoFi Bank will in turn reimburse the amount to the sender’s financial institution
as required or appropriate.

If you believe there has been an error with respect to a P2P Transfer, see Section XVIII,
“Account Inquiries and Disputes; Error Resolution.” for a description of your rights and the process for
resolving any suspected errors.

F. Canceling P2P Transfers.

1. Transfers to Other SoFi Bank Customers.

Transfers to other SoFi Bank Customers occur instantaneously, and therefore they are not
subject to cancellation once initiated.

2. Transfers to Recipients at Other Financial Institutions.

For P2P Transfers to recipients at other financial institutions, you have a limited opportunity to
cancel the transfer while the transfer appears in the “Pending” section of the transaction list. While
“Pending”, you can cancel a P2P transfer by selecting the transfer and clicking on “Cancel Payment”.
Once the P2P Transfer is completed, it will be listed under “Completed Activities” and you no longer
will have the ability to cancel it.

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 If you request cancellation of a P2P Transfer in the manner described above and SoFi Bank fails
to cancel the P2P Transfer in accordance with your instructions, we will be liable only for any direct,
out of pocket costs incurred by you to the extent caused directly by such failure, subject to the
limitations set forth in Section XXIV, “Legal Process, Indemnification, and Limitation of Liability.”
VIII. SoFi Bank Bill Pay Service (Checking Accounts Only).

A. Overview of SoFi Bank Bill Pay Service.

The SoFi Bank Bill Pay Service facilitates online bill payments (e.g., credit cards, student loans,
mortgage, rent, utilities, etc.) through your SoFi Checking Account. The SoFi Bank Bill Pay Service
can be accessed through our website at www.sofi.com or the SoFi Mobile App.

SoFi Bank offers the SoFi Bank Bill Pay Service through one of its SoFi Third‐Party Partners,
which hosts an internet platform which provides bill payment services.

To use the SoFi Bank Bill Pay Service, your SoFi Checking Account must be in good standing
and you must have sufficient funds in your Account to cover any Bill Pay Payments you initiate.

B. Electronic vs. Manual Bill Pay Payments.

1. Electronic Bill Pay Payments.

The funds for electronic Bill Pay Payments will be debited from your Checking Account
approximately two (2) Business Days prior to the scheduled Delivery Date you select. Electronic Bill
Pay Payments are generally delivered to the payee/merchant within three (3) business days.

2. Manual Checks.

The funds for a manual Bill Pay Payment will be debited from your Account approximately
eight (8) Business Days prior to the scheduled Delivery Date you select.

Manual physical checks are sent via USPS First-Class Mail, which offers delivery in one to five
Business Days. Therefore, it may take up to 13 Business Days to be delivered to the payee/merchant.
Please note that manual checks may be delayed due to longer shipping times by USPS. We recommend
scheduling your physical check payments with a Delivery Date of at least five (5) business days prior to
the actual payment due date on the bill. Scheduling your payments sufficiently in advance of the due
date allows enough time for the biller to receive the payment and credit it to your account.

If a future or recurring scheduled Delivery Date for a Bill Pay Payment falls on a day that is not
a Business Day, the related payment will be deducted from your Account on the Business Day
immediately prior to the timeframes described above in order to facilitate delivery on or prior to the
scheduled Delivery Date.

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C. Bill Pay Payment Restrictions, Cancellations and Liability.

1. Right to Restrict Certain Bill Pay Payments.

We reserve the right to refuse to allow you to designate a particular Payee or groups or classes
of Payees from receiving Bill Pay Payments. For example, we will not permit Bill Pay Payments to
Payees which may be online gaming sites or sites which sell illegal drugs, drug paraphernalia.

You also may not use the SoFi Bank Bill Pay Service to send payments to payee accounts which
are in foreign countries.

2. Changing or Canceling a Bill Pay Payment.

You may cancel a Bill Pay Payment, change the amount of a Bill Pay Payment, and make other
changes to your SoFi Bank Bill Pay Service.

Cancellations or changes to Bill Pay Payment Instructions received prior to the cut‐off time on
or prior to the date the money is debited from your Account, will be processed on the day received (or
on such other later date as you may select). Cancellations or changes received after the cut‐off time on
any day prior to the date the money is debited from your Account (or on a day which is not a Business
Day), will be processed the following Business Day (or on such other later date as you may select).

We are unable to stop payment on an electronic Bill Pay Payment once it has been initiated, and
in the case of a manual Bill Pay Payment, we will be unable to stop the payment after it has been
mailed. Once scheduled, a Bill Pay Payment will reflect as a "Scheduled Payment" starting from the
time it is scheduled until the date the amount is deducted from the Available Balance in your Account.

D. Bill Pay Payment Liability.

SoFi Bank, including any of its affiliates, directors, officers, employees, agents, or contractors,
will not be responsible for any late fees, interest charges or other costs or expenses you may incur as a
result of Bill Pay Payment processing delays to the extent caused by circumstances beyond our control
or necessary, in SoFi’s sole discretion for the protection of your Account or the SoFi Bank Platform,
including, without limitation, delays caused by: (a) the US Postal Service; (b) technical issues relating
to any ACH system or other electronic funds transfer network used to facilitate the payment; (c) the
Payee’s payment processing procedures; (d) insufficient funds in your SoFi Bank Account to cover any
scheduled Bill Pay Payment; or (e) the suspension or closure of your SoFi Bank Account.

E. Cooperating with Payees.

SoFi Bank or its SoFi Third‐Party Partners may encourage Payees that do not participate in
electronic bill payment services to accept electronic payments or, alternatively, to accept a check from
SoFi Bank or its SoFi Third‐Party Partners. However, SoFi Bank and its SoFi Third‐Party Partners
reserve the right, in its sole discretion, for administrative reasons or otherwise, to elect to not work with
such Payees or any other class of Payees.

From time to time, SoFi Bank or its SoFi Third‐Party Partners may receive instructions from a
Payee directing us to send your payment to an address other than the one that you provided or which

30
was listed when you signed up for SoFi Bank Bill Pay in order to ensure the timely processing of your
payment, or we may receive instructions from a Payee directing us to make your payment
electronically, rather than by check, or direct that the electronic payment be made to the Payee’s
designated account at another financial institution. When such instructions are received from Payees,
SoFi Bank’s (and its SoFi Third‐Party Partners’) practice is generally to follow the Payee’s instructions
to ensure that your payment is timely received and credited to your account.

F. Returned or Stale Bill Pay Payments.

If a Bill Pay Payment is returned to us for any reason (e.g., the Payee’s forwarding address
expired, your account number with the Payee is not valid, the Payee is unable to locate your account,
your account with the Payee is paid in full, etc.), SoFi Bank will notify you of the return and promptly
credit the amount of the Bill Pay Payment to your SoFi Bank Account.

If a Payee fails to cash or negotiate a Bill Pay Payment sent by check within 180 days after the
Delivery Date, we will notify you and place a stop payment on the stale check. We will credit the Bill
Pay Payment Amount to your SoFi Bank Account when the stop payment on the stale check is placed.
If a Bill Pay Payment check is returned to us by the Payee prior to the end of such 180-day period, we
will credit the Bill Pay Payment Amount to your SoFi Bank Account.
IX. Wire Transfers

You may send money via an outgoing domestic wire transfer using the FedWire Funds Service to an
account at a bank located in the United States. Domestic wire transfers are only permitted in U.S.
dollars. SoFi Bank does not permit wire transfers outside of the United States or in foreign currencies.
Please note that prior to releasing a wire transfer, we may call you back at the number on file to
complete verification of the wire details.

Only wire money to people you know or recipients you have verified. Be aware of wire scams. Once a
wire is sent, you may not be able to recover your money. You should not share your Account login
information with others. Please note that if you give someone access to your SoFi Bank Account and
they access or use your Account, you are responsible for any transactions made by them, as set forth in
Section XVIII.A herein.

A. Submitting, Processing, Canceling, Modifying, and Notifications of Wire Transfers.

1. Submitting: You may submit outgoing domestic wire transfer requests by logging into
your account on the SoFi mobile app or on the SoFi website. Please note that account
holders will not be able to request a wire transfer by calling SoFi customer service once
the outgoing wire transfer self-service option is available to you.

2. Processing: Most wire requests submitted before 3:30 PM ET on Business Days are
processed the same day. There could be a delay if we need more information. Wires
submitted after 3:30 PM ET on Business Days, or on weekends or bank holidays, will be
processed the next Business Day. In order to complete our processing, we must finish
any internal reviews, and you must have available funds to cover both the wire transfer
amount and the wire transaction fee in the Account you designated in your wire transfer
instructions. Please note that prior to releasing a wire transfer, we may call you back at

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 the number on file to require complete verification of the wire details. SoFi Bank
reserves the right to decline wire transfer requests in its sole discretion based on internal
reviews.
3. Canceling: Once you have submitted a wire transfer for the current Business Day, you
cannot cancel it after we have begun processing, but you may request us to attempt to
return the funds to you. If the recipient's bank agrees, your funds may be returned to
you, but likely not the full amount that was originally sent.
4. Modifying: Once a wire transfer has begun processing, we will not be able to change the
wire transfer request unless the recipient's bank agrees. If the recipient's bank declines to
change the wire transfer request, you will be responsible for the transfer you initially
requested.
5. Internal Review: All wire transfer requests are subject to an internal review and may not
be approved. In addition, we may need to contact you to verify information about your
wire transfer during that internal review. During our internal review, we may place a
hold on the funds in your Account. Once we have released the wire transfer, the
recipient's bank may delay credit to the recipient due to their own internal review
processes.
6. Notifications: We will update your Account in the SoFi Mobile App and on the SoFi
website regarding the status of your wire transfer. Any status information we provide
reflects only the status of us processing your wire transfer and does not indicate the
status of your wire transfer outside of our systems. For example, when we complete
processing your wire transfer, that does not necessarily mean it has been credited to your
recipient. If the email is returned undeliverable or if we are unable to send an email due
to system failures or outages beyond our reasonable control, it is your responsibility to
monitor your Account for the status of your wire transfer. These notification methods are
deemed to be commercially reasonable.
B. Security Procedures.

In order to use the wire transfer service, you must log into your Account through the SoFi Mobile App
or SoFi website with your username and password. You may be asked to complete additional
authentication steps, including but not limited to security questions, two-factor authentication, identity
verification, and other methods of authentication. Prior to scheduling a transfer, you must establish a
recipient and the financial institution that holds the recipient account. You acknowledge the security
procedures for outgoing wire transfers are a commercially reasonable method of verifying your wire
transfer. You are responsible for any wire transfer issued in your name using these security procedures,
whether or not you actually authorized the transfer. We may impose stricter security procedures for any
particular wire transfer you make under this service, but we have no obligation to do so. If we choose to
impose stricter security procedures, we will not be liable to you for any delays or losses, and we will
not be obligated to impose such security procedures in the future.

C. Identifying Number.

We or any other bank involved in the wire transfer will complete your wire transfer request using the

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account number or bank identification number you provide, even if the numbers do not match the
recipient's or bank's name. If you provided us with an incorrect account number for the recipient or an
incorrect routing or identification number for the recipient's bank, you could lose the amount of the
transfer.

D. Fees and Payment Route.

We may charge a transaction fee when you send an outgoing wire transfer based on the Fee Sheet in
effect when the wire is sent from your Account. Such fee will be assessed upon the successful
processing of the wire transfer request and will be non-refundable. All fees associated with your
Account, including any wire transfer fees, are set forth in the SoFi Bank Fee Sheet at
www.sofi.com/legal/banking-fees/. We recommend that SoFi account holders sending funds to another
SoFi account consider using other available transfer methods to avoid incurring a fee. SoFi Bank
reserves the right to modify the fees stated in the SoFi Bank Fee Sheet at any time upon providing
notice, as required by regulation. Financial institutions may deduct processing fees and/or charges from
the amount of the wire transfer. You are responsible for all fees and taxes, including our fees and any
fees charged by other wire transfer systems or banks involved in the transfer.

E. Wire Transfer Rules and Laws.

Wire transfers are subject to all applicable U.S. federal and state laws, regulations, rules and wire
transfer arrangements, including the respective state’s Uniform Commercial Code Article 4A, as may
be applicable, which, in the event of a conflict with this Agreement, will govern. All of your wire
transfers must comply with U.S. laws, including the regulations and economic sanctions administered
by the U.S. Treasury Department’s Office of Foreign Asset Control and other applicable laws.

F. Failure to Perform.

Except as otherwise agreed in writing, we are liable only for damages required to be paid as provided
under UCC 4A. We will not be responsible for the acts or omissions of any other person or entity,
including but not limited to any processor or any other financial institution, and no such person or
entity will be deemed our agent. We will not be liable for the failure or delay of any wire transfer or for
failing to meet other obligations set forth in this Section IX because of circumstances or causes beyond
our control, including governmental, legal or regulatory restrictions or prohibitions, third party actions,
natural disasters, equipment or system failures, labor disputes, wars or riots.

G. Contact Us in the Event of an Error

We will not be responsible for any delays in payment caused by your failure to promptly notify us in
the event you discover an error. You will exercise ordinary care to determine whether a wire transfer
request we accepted and subtracted from your account was either in error or not authorized. In the event
of an error or unauthorized wire transfer, you agree to notify us within 30 days after you receive the
first confirmation of the wire transfer (if applicable) or after we make a statement reflecting the wire
transfer available. You agree that we are entitled to retain payment for a wire transfer unless you notify
us within this 30-day period.

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X. Zelle

SoFi Checking account holders that meet certain eligibility criteria may send and receive money
to other SoFi accounts and/or accounts at other financial institutions using Zelle®. In order to be
eligible, your SoFi Checking and Savings account must be in good standing. SoFi may also consider
other criteria when assessing eligibility, including but not limited to (i) having previously received a
direct deposit into your SoFi Checking and Savings account or (ii) having at least one prior Zelle®
transaction to or from your SoFi Checking and Savings account. SoFi Bank shall, in its sole discretion,
determine your eligibility to enroll with Zelle®. If you are eligible, you can access Zelle® by logging
into your account on the SoFi mobile app or on the SoFi website and selecting “Zelle®” on the Banking
overview page. At the time of enrollment, you will be required to consent to the Zelle Network®
Standard Terms, which shall govern your use of Zelle®. The Zelle Network® Standard Terms, which are
incorporated herein by reference, can be found at www.sofi.com/banking/zelle-terms/. In the event of
any conflict between the terms of this Agreement and the Zelle Network® Standard Terms, the Zelle
Network® Standard Terms shall take precedence. By using the Zelle® service, you authorize SoFi Bank
at the time of a transaction to initiate debit entries to your Account and/or initiate credit entries to your
Account. You acknowledge that when you send a payment, you will have no ability to stop such
payment. You may only cancel a payment if the person to whom you send the money has not yet
enrolled in the Zelle® service. Further, you acknowledge that once a user initiates a transfer of money to
your email address, mobile phone number, or Zelle® tag enrolled with the service, you have no ability
to stop the transfer. Most transfers of money to you from other users will occur within minutes. There
may be other circumstances when the payment may take longer. For example, in order to protect you,
us, Zelle® and the other network banks, we may need or Zelle® may need additional time to verify your
identity or the identity of the person sending the money. We may also delay or block the transfer to
prevent fraud or to meet our regulatory obligations. SoFi Bank reserves the right to terminate your
enrollment in the Zelle Network® at any time in its sole discretion.

XI. SoFi Bank Vault Program Terms and Conditions

In the event you choose to participate in the SoFi Bank Vault Program and create one or more
Vaults, the following terms and conditions apply to your Vaults:

By enrolling in the SoFi Bank Vault Program you have the option to allocate cash to Vaults
designated by you to help you save towards a particular goal, such as a down-payment or a vacation.

The Vaults established by you are not separate “accounts,” but rather they represent internal
allocations of the cash which is already in your SoFi Savings Account.

Within your SoFi Savings Account, you may at any time transfer amounts between Vaults or
back to your SoFi Savings Account. However, since Vaults are not separate “accounts,” you may not
withdraw cash directly from a Vault. Funds must first be transferred to your SoFi Checking Account or
Savings Account before they can be accessed.

The deposits to your SoFi Savings Account, whether or not allocated to a Vault, will be eligible
to earn interest if the criteria for earning interest, if any, as set forth in the SoFi Bank Rate Sheet have
been satisfied. From time to time, SoFi Bank may change the interest rate(s) paid on deposits and may
establish or change the criteria required to be met to receive available interest rates. In some cases, the

34
rate of interest earned on your SoFi Savings Account may change based on your Account activity or
other criteria established by SoFi Bank. At any given time, the then applicable criteria, if any, required
to earn interest on deposits will be set forth in the SoFi Bank Rate Sheet.

Your Monthly Statements will describe the aggregate amount in your SoFi Savings Account
and, separately, the amount you have allocated to each Vault. Monthly Statements will also indicate the
total interest earned on your SoFi Savings Account during the preceding month, and it will separately
indicate the amount of such interest which is attributable to the funds in each Vault. The percentage of
total interest allocated to each Vault will equal the quotient of the amount on deposit in such Vault
divided by the aggregate amount on deposit in your SoFi Savings Account, then multiplied by 100. For
the avoidance of doubt, in no event will the sum of the amounts allocated to each of your Vaults exceed
the aggregate balance in your SoFi Savings Account for the same period, likewise, in no event will the
sum of the interest allocated to each of your Vaults exceed the aggregate interest earned on your SoFi
Savings Account for the same period. For example, if 10% of your total SoFi Savings Account balance
is in a Vault, the interest reflected on your statement for that Vault would represent 10% of the total
interest earned that month in the SoFi Savings Account.

If you have both a SoFi Checking and Savings Account, and there are insufficient funds in your
SoFi Checking Account to cover a pending transaction, cash will be removed from your SoFi Savings
Account to the extent required to cover the Overdraft. Please note that funds will not be transferred
from your Vaults to cover Overdrafts. In the event there are insufficient funds in your SoFi Savings
Account to fully cover a shortfall (without regard to funds credited to your Vaults), the transaction will
be declined and/or the item will be returned unpaid.

You may elect to restrict the use of funds allocated to your Vaults to cover transactions for
which there are otherwise insufficient funds in your Checking Account. However, if the pending
transaction for which there are insufficient funds will result in a negative balance for your SoFi
Checking and Savings Accounts, cash will be removed from Vaults, to the extent available, to cover
such transactions regardless of your election. Examples include previously authorized debit card
transactions, checks deposited into your SoFi Checking and Savings Accounts that are returned and
ACH deposits that are returned. We will start by withdrawing cash from the Vault with the largest
balance, and once the amount in that Vault has been depleted, we will then withdraw cash from the
Vault with the next largest balance, and so forth until funds sufficient to cover the transaction have been
collected. In the event there are insufficient funds in your Vaults to fully cover a shortfall, your SoFi
Checking and Savings Accounts will be subject to negative account balance terms. SoFi Bank reserves
the right to withdraw funds from your Vault(s) and/or close your Vault(s) if we receive a garnishment,
levy, or similar legal process requiring the payment of funds from such Vault(s).

XII. World Debit Mastercard Benefits (Checking Accounts Only).

SoFi Checking Account Customers 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 at: SoFiMoney_WorldDebitMCBenefits.pdf.

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XIII. SoFi Bank Round Up, Autosave, and AutoPilot Programs.

A. SoFi Bank Round Up Program.

The SoFi Bank Round Up Program is a way to help you save automatically each time you spend
using your SoFi Debit Card. Upon enrollment in the SoFi Mobile App or on the SoFi website, SoFi
Bank will round up your SoFi Bank World Debit Mastercard purchases to the nearest dollar and
transfer the difference from your SoFi Checking Account to a Vault that you specify. We reserve the
right to cancel or modify the Round Up Program at any time without prior notice.

B. AutoSave and AutoPilot Programs.

AutoSave allows you to save a part of your paycheck toward your financial goals. Set the dollar
amount or percentage you want to save, and we will automatically transfer it from your direct deposit to
one or more of your Vaults. You may set up an AutoSave dollar amount or percentage in your SoFi
Checking or Savings Account through AutoPilot in the SoFi Mobile App or on the SoFi website. By
setting up an AutoSave amount or percentage, you agree that the set amount or percentage that you
have defined will be deducted from every direct deposit that you receive and will be automatically
moved to one or more of the Vaults of your choosing. If no Vault exists, you will need to create a Vault
to set up AutoSave. If the AutoSave dollar amount that you set is larger than your direct deposit, then
the full amount of your direct deposit transaction will be automatically transferred to the designated
Vaults. Additional funds will not be moved from your spending balance to the designated Vaults to
cover the difference.

AutoPilot refers to any automated, recurring transfer that you have defined to be made on your
behalf to one or more of your accounts based on a set frequency. You may set up the following
automated, recurring transfers from your SoFi Checking or Savings Account through AutoPilot in the
SoFi Mobile App or on the SoFi website: (i) AutoSave to add funds to a Vault of your choice every
time you receive your direct deposit; (ii) recurring transfers to one or more of your Accounts of your
choice based on your defined frequency; (iii) managing Round Ups to add funds to a Vault of your
choice every time you use your SoFi Debit Card; and (iv) recurring transfers to your SoFi Automated
Invest Account every time you receive your direct deposit. By setting up AutoPilot, you agree that the
set amount or percentage that you have defined will be automatically transferred to one or more of the
accounts of your choosing based on the set frequency.

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XIV. Earning Interest on Your Account

A. Interest Rate Eligibility.

To earn interest on deposits in your SoFi Bank Account, your Account must be funded and meet
any additional eligibility criteria established by SoFi Bank from time to time as set forth on the SoFi
Bank Rate Sheet. SoFi Bank may offer Accounts that do not earn interest. Accounts that earn interest
are described in the SoFi Bank Rate Sheet at http://www.sofi.com/legal/banking-rate-sheet.

B. Interest Rate Disclosures.

Each interest earning Account will earn interest at a variable rate. We may change the variable
rate for any Account at any time in our sole discretion without limit and prior notice to you. Interest
rate (s) may also change automatically based on changes in your Account activity or other criteria as
described in the SoFi Bank Rate Sheet. Interest rate changes and any fees charged will change the
annual percentage yield(s) earned.

The current interest rate (s) offered for eligible SoFi Bank Accounts are available on the SoFi
Bank Rate Sheet and will be posted to your Account. Your continued use of your SoFi Bank Account
after we post changes to the interest rate(s), shall constitute your consent to any such changes.

Unless otherwise stated on the SoFi Bank Rate Sheet, amounts on deposit will accrue interest
daily based on your end‐of‐day balance in the Account. Interest earned will be compounded monthly.
You agree that each month, the interest payable to you shall accumulate and be credited to your
Account by SoFi Bank rather than be paid to you in cash.

Cash deposits begin accruing interest the same Business Day a deposit is credited to your
Account. If you deposit an item such as a mobile check, interest begins accruing on the Business Day
we receive credit for the item.

We use the “daily balance method” to calculate interest on your Account. The daily balance
method applies a “daily periodic rate” to the collected balance in your Account each day. The daily
periodic rate is equal to 1/365 (or in a leap year we may use 1/366) times the interest rate for your
Account as set forth in the SoFi Bank Rate Sheet.

For each Account, the interest rates, APYs and other required disclosures under the Truth in
Savings Act and its implementing Regulation DD are found in the SoFi Bank Rate Sheet
http://www.sofi.com/legal/banking-rate-sheet.

For certain Accounts the applicable interest rate may vary depending on daily balances
maintained in your Account(s) (tiered-rate accounts), or the applicable interest rate may change at
different times (stepped rate accounts). For tiered accounts, we may pay the same interest rate on more
than one tier or pay one tier a higher or lower rate than we pay another tier with a higher or lower
balance requirement. In each case, applicable tiers, operative time periods and corresponding interest
rates and APYs will be disclosed on the SoFi Bank Rate Sheet.

In the event you receive interest on any deposit which did not clear, or which is later invalidated
or reversed, the interest paid or credited to your Account as a result of such a deposit will be deducted

37
from your Account or you will be asked to repay such amounts, as applicable. Failure to promptly
repay any such amounts may result in the suspension or closure of your Account.

When your Account is closed, you will receive a credit for interest accrued in your Account
based on the prorated number of days during the month the Account was open.

XV. Fees
There are no fees to open or close any SoFi Account and there are no monthly maintenance or
account fees. SoFi Bank may charge a transaction fee when you send an outgoing wire transfer, as
described in Section IX.D herein. All fees associated with the Accounts are set forth in the SoFi Bank
Fee Sheet at www.sofi.com/legal/banking-fees/. SoFi Bank reserves the right to modify the fees stated
in the SoFi Bank Fee Sheet at any time upon providing notice, as required by regulation.Our account
fee policy is subject to change at any time.

You acknowledge that you have reviewed the SoFi Bank Fee Sheet and agree that the fees
described therein, including any third‐party or direct compensation we may receive with respect to any
Account features, constitute reasonable compensation in light of the totality of services we are
providing with respect to the Account.

XVI. FDIC Coverage

Savings and Checking Account balances at SoFi Bank are insured by the FDIC for up to
standard maximum deposit insurance amount (currently $250,000 per depositor in the same ownership
capacity). Additional information on the FDIC’s coverage amounts can be found at
https://edie.fdic.gov/.

XVII. Tax Reporting

Please note that U.S. Treasury regulations require us to determine the tax residency of all
customers and payees who could receive income that is reportable to the IRS. We accomplish this by
obtaining a Form W-9 from all U.S. taxpayers. For U.S. taxpayers, the Form W-9 is how we document
U.S. tax residency and obtain a Taxpayer Identification Number (“TIN”) from the primary owner of
each account that earns reportable income. Until we have received the Form W-9 and TIN, we are
required to apply backup withholding to that income.

XVIII. Account Inquiries and Disputes; Error Resolution.

A. Responsibility to Review Account Statements and Safeguard your Account.

It is your responsibility to review all Account Statements promptly upon receipt. You should
contact SoFi Bank immediately at 1‐855‐456‐7634, in writing at SoFi Bank, N.A., 2750 East
Cottonwood Parkway #300, Cottonwood Heights, Utah 84121, or via SoFi chat if you have any
questions or concerns about the activity reflected on your Account Statement. We strongly encourage
you to log into your Account regularly to review your transaction activity and immediately alert us
about any transactions you don’t recognize. Such review should include any checks that have posted
against your Account during the statement period.

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 It is also your responsibility to take reasonable steps to protect the security of your SoFi Bank
Account. You should store your SoFi Debit Card and your SoFi Checking Account checkbook securely,
and you should not share your Account login information with others. Please note that if you give
someone access to your SoFi Bank Account (for example, by giving them your SoFi Debit Card or
login information) and they access or use your Account, you are responsible for any transactions made
by them.

B. Unauthorized Electronic Fund Transfers

This section provides information on electronic fund transfers governed by the Electronic Fund
Transfer Act, such as purchases you make with your SoFi Debit Card, ATM transactions, and most
electronic debits and credits to your Account, including P2P payments. Electronic fund transfers do not
include check, cash, or wire transfer transactions, which are addressed elsewhere in this Agreement.

Notify us IMMEDIATELY at 1‐855‐456‐7634 or in writing at SoFi Bank, N.A., 2750 East

Cottonwood Parkway #300, Cottonwood Heights, Utah 84121 if you believe that your SoFi Debit Card,
the card number printed on it, or your Account credentials (such as your login information, PIN or
code) have been lost or stolen, or if you believe that an electronic fund transfer has been made without
your permission using information from one of your checks.

If you (a) have questions about your statement, (b) think your statement or receipt is wrong, (c)
need more information about a transaction, or (d) think an electronic transaction (e.g., ATM transaction,
direct deposit, withdrawal, or point of sale transaction) is incorrect or unauthorized, please contact us at
the number or address above as soon as possible.
If you notify us within two (2) Business Days after you learn of the loss or theft of your SoFi
Bank Debit Card, you can lose no more than $50.00 if someone used your Debit Card without your
permission. If you do not notify us within two (2) Business Days after you learn of the loss or theft of
your SoFi Bank Debit Card, and we can prove that we could have stopped someone from using your
Account without your permission if you had promptly notified us, you could lose as much as $500.00.

Under Mastercard Rules, you will not be held responsible for transactions made using your SoFi
Bank Debit Card that you did not authorize if you have used reasonable care in protecting your SoFi
Bank Debit Card from loss or theft and you have promptly reported to us when you knew that your
SoFi Bank Debit Card was lost or stolen. This Zero Liability does not apply to Mastercard payment
cards that are used for commercial purposes which is prohibited.

Additionally, if you believe that there is a transaction that you did not make or that an
administrative, computational or other error was made in recording or accounting for a transaction or
other account activity reflected on your Account Statement, you must notify us of your concern no later
than 60 days after we sent the FIRST statement on which the problem or error first appeared. We are
not liable to you for any damages resulting from an error you fail to timely report and you agree to not
make a claim against us for such damages.
If you do not tell us within sixty (60) days after the Account Statement was made available to
you, you may not get back any money you lost after the sixty (60) days if we can prove that we could
have stopped someone from taking the money if you had told us in time. If a good reason (such as a
long trip or a hospital stay) kept you from telling us, we will extend the time periods.

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C. Other Unauthorized or Erroneous Funds Transactions.

You are in the best position to identify unauthorized, erroneous, or otherwise incorrect
transactions in your Account, such as forged or altered checks or incorrectly posted teller transactions.
You agree that you will exercise ordinary care to determine whether a transaction in your Account was
either not authorized or inaccurate. You will review your Account Statements carefully and must notify
us of any suspected errors or unauthorized transactions within a reasonable time after we have sent or
made available to you your Account Statement. If a transaction is an electronic fund transfer covered
by the Electronic Fund Transfers Act, the error provisions of this Agreement for such electronic fund
transfers shall govern.

D. Erroneous Payment Orders.

We have no obligation to detect errors you make in payment orders (e.g., an instruction to pay a
beneficiary not intended by you or to pay an amount greater than the amount intended by you, or a
transmission of a duplicate payment order previously sent by you). If we detect an error on one or more
occasions, we will not be obligated to detect errors in any future payment order. We will rely on the
beneficiary account number and beneficiary bank identification number (e.g., IBAN, RTN, or SWIFT
BIC) you provide with an instruction or order. If the funds transfer instruction gives both a bank
number or account number and a name, and the name identifies a different person from the bank or
account owner identified by number, we and other banks that handle the funds transfer may still rely
exclusively on the number. You could lose the funds if you provide incomplete or inaccurate
information.

E. How to Report Possible Account Errors or Unauthorized Transactions.

You may contact SoFi Bank at any time by phone, SoFi chat, mobile application or regular mail,
to inquire about or report a possible Unauthorized Transaction, account error, or suspicious activity, or
to request documents regarding your Account. SoFi Bank Contact information can be found at
www.sofi.com/contact‐us.

Written information requests and reports relating to Account Errors, Unauthorized Transactions,
account breaches or suspicious activity should include the following information:

● Your full name and Account number (if any);

● A clear description of the Account Error, Unauthorized Transaction or suspicious activity;

● A description of any information or documents needed and an explanation for the request; and

● If applicable, the dollar amount of any suspected error.

If you notify us orally, we may require that you send us written confirmation of details of the
incident within ten (10) Business Days.

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F. Investigation and Resolution of Errors.

We will determine whether an Unauthorized Transaction or other account error occurred within
ten (10) Business Days after we hear from you and will correct any Unauthorized Transaction or other
account error within one (1) business day after determination of error.. If we need more time, however,
we may take up to forty‐five (45) days to investigate your dispute. If we decide to do this, we will
provisionally credit your Account within ten (10) Business Days for the amount you think is in error, so
that you will have the use of the money during the time it takes us to complete our investigation, and
provide notice to you within two (2) business days after the provisional crediting of the amount and
date of the provisional crediting. If we ask you to put your dispute in writing and we do not receive it
within ten (10) Business Days, we may not provisionally credit your Account.

Upon request, you agree to report any potential fraudulent event promptly to legal authorities
and provide us a copy of any report prepared by such legal authorities. You agree to cooperate fully
with the legal authorities and SoFi Bank in any investigation of any potential fraudulent event and you
will complete any required affidavits promptly, accurately and thoroughly. We will not delay our
initiation or completion of an investigation of any Unauthorized Transaction or other account error if
you do not provide a copy of any such report. You understand that if you fail to cooperate with SoFi
Bank, such failure may delay our investigation and, in some cases, delay your ability to regain access to
the funds in your Account. You agree to indemnify and hold SoFi Bank and its affiliates harmless from
and against any losses arising out of or relating to any unauthorized use.

For errors involving new Accounts (i.e., accounts opened less than 30 days old), point‐of‐sale
transactions using your SoFi Bank Debit Card, or foreign‐initiated transactions, we may take up to
ninety (90) days to investigate your complaint or question. For new Accounts, we may take up to
twenty (20) Business Days to provisionally credit your Account for the amount you think is in error.

We will tell you the results within three (3) Business Days after completing our investigation,
including notice that a provisional credit has been made final, if applicable. If we determine that there
was no Unauthorized Transaction or other account error or if a different error occurred, we will send
you a written explanation. You may ask for copies of the documents that we used in our investigation,
which we will provide to you promptly. If you received a provisional credit, after giving you five (5)
Business Days’ notice of the date and amount to be removed, we will remove the provisional credit
from your Account.

Upon fully complying with the error resolution requirements stated herein, we will have no
further responsibilities under this section should you later reassert the same error or unauthorized
transaction. Unless you provide new and/or additional documentation and information concerning the
error, we may not elect to re-open our investigation.

In addition to the terms hereof and in your SoFi Debit Card Agreement, please note that
disputes related to ATM transactions may also be subject to the rules or customs of the related financial
institution or merchant, and/or any related clearinghouse, ATM system, ATM owner or operator, or
other third‐party entity or association over which neither SoFi Bank nor the SoFi Third‐Party Partner
issuing your SoFi Bank Debit Card has control over.

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G. P2P Disputes.

You acknowledge and agree that if your Payment Instructions identify a P2P Payee’s account by
the name and account number of the Payee, the relevant financial institution, including SoFi Bank, may
execute such Payment Instructions by reference to the account number only, even if such account
number does not correspond to the Payee name listed in your Payment Instructions. You further
acknowledge and agree that in the event of a disputed P2P payment, the Payee’s financial institution,
including SoFi Bank, may choose to not investigate discrepancies between account names and account
numbers and that SoFi Bank has no ability or responsibility to investigate discrepancies between
Payee’s account names and account numbers.

You agree that we will not be liable in any way for any P2P payments that you may receive,
regardless of whether you authorized the Payee to send them to you.

H. Preauthorized Payments.

1. Right to Stop Payment and Procedure for doing so. If you have told us in advance to make
regular payments out of your account, you can stop any of these payments as follows:

● You may contact the merchant to request the recurring payment be canceled.
● You may call us to request the recurring payment be canceled at 1‐855‐456‐7634, or
write to us at SoFi Bank, N.A., 2750 East Cottonwood Parkway #300, Cottonwood
Heights, Utah 84121, in time for us to receive your request three (3) business days or
more before the payment is scheduled to be made.
● Such a stop payment request will cancel a single recurring payment. If you want to
permanently stop multiple recurring payments to a specific merchant, then we require
you to submit your request in writing, which we must receive within fourteen (14) days
after you tell us you want to stop such payments.

● If you call, we may also require you to put your request in writing, which we must
receive within 14 days after you call. We reserve the right to charge a fee for each
stop-payment order you give.

2. Notice of Varying Amounts. If these recurring payments vary in amount, the person you are
going to pay will tell you, 10 days before each payment, when it will be made and how much it
will be. You may choose instead to get this notice only when the payment would differ by more
than a certain amount from the previous payment, or when the amount would fall outside certain
limits that you set.

3. Liability for Failure to Stop Payment of Preauthorized Transfer. If you order us to stop one
of these payments 3 business days or more before the transfer is scheduled, and we do not do so,
we will be liable for your losses or damages.

4. Our Liability

If we do not complete a transfer to or from your account on time or in the correct amount

42
 according to our agreement with you, we will be liable for your losses or damages. However,
there are some exceptions. We will not be liable, for instance:

● If, through no fault of ours, you do not have enough money in your account to make the
transfer.

● If the transfer would go over the credit limit on your overdraft line.

● If the automated teller machine where you are making the transfer does not have enough
cash.

● If the SoFi Bank Platform was not working properly and you knew about the breakdown
when you started the transfer.

● If circumstances beyond our control (such as fire or flood) prevent the transfer, despite
reasonable precautions that we have taken.

● If the merchant requests authorization for an amount greater than the purchase amount.

● There may be other exceptions stated elsewhere in our agreement(s) with you.

5. Terminal transfers. You can get a receipt at the time you make any transfer to or from your
account using an ATM.

6. Preauthorized credits. If you have arranged to have direct deposits made to your account at
least once every 60 days from the same person or company, you can call us at 1‐855‐456‐7634
to find out whether or not the deposit has been made.

XIX. Communications Regarding Your Account.

A. Your Consent to Receive Electronic Disclosures.

By consenting to this Agreement, you consent to electronic delivery by SoFi Bank of (i) all
Disclosures required or permitted by law or regulation to be delivered to you by SoFi Bank relating to
your Account; (ii) notices regarding the resolution of any Unauthorized Transaction, Account Error or
other disputed matter hereunder; and (iii) any other information we may elect to deliver to you from
time to time in accordance with this Agreement.

By agreeing to the terms of this Agreement, you also consent to electronic delivery of
Disclosures, notices or other information by any of the following means:

● By posting such information to your Account on the SoFi website or SoFi app.

● By text message or SMS at the mobile phone number associated with the Account (which may
include a link to the information on the SoFi website) unless you have told us not to contact you
via this method;

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 ● By electronic or email transmission to the email address associated with the Account; and

● By electronic or email transmission with a hyperlink to the SoFi website or other website where
the information is posted.

Please note that in accordance with Section III.D, you are responsible for promptly updating
your Account information to reflect any changes to your current email and physical street addresses,
phone numbers and other important contact information.

The delivery of information by any of the means described above shall be conclusive if not
objected to in writing by you within thirty (30) days after transmission.

B. Your Right to Revoke Consent.

By consenting to the terms of this Agreement, you acknowledge that your Account is entirely
internet based and is not designed to include the option to request paper delivery of Account
Agreements, Disclosures, Account Statements, or other documents, all of which will all be delivered
electronically. If you do not wish to receive electronic delivery of your documents, SoFi Bank will not
open your Account, and, if you determine after your Account has been opened that you do not wish to
receive electronic document delivery, please note that SoFi Bank will close your Account and, subject
to the Account closing procedures in Section XXII will return the remaining balance to you. Your
consent to receive electronic Disclosures will remain in effect until revoked. You may at any time
revoke your consent to receive electronic deliveries by sending written notice to SoFi Bank at 2750
East Cottonwood Parkway #300, Cottonwood Heights, Utah 84121.

C. TCPA Consent.

Notwithstanding any current or prior election to opt in or opt out of receiving telemarketing
calls or SMS messages (including text messages) from Social Finance, Inc. or its agents,
representatives, or affiliates or anyone calling on their behalf, you expressly consent to be contacted by
SoFi Bank, our agents, representatives, affiliates, or anyone calling on our behalf for any and all
purposes arising out of or relating to your Account, at any telephone number, or physical or email or
electronic address you provide or at which you may be reached. Telephone numbers you provide
include those you give to us, those from which you or others contact us with regard to your Account, or
which we obtain through other means. You agree we may contact you in any way, including SMS
messages (including text messages) calls using pre-recorded messages or artificial voice, and calls and
messages delivered using automatic telephone dialing systems (auto‐dialer) or an automatic texting
system. Automated messages may be played when the telephone is answered, whether by you or
someone else. In the event that an agent or representative calls, he/ she may also leave a message on
your answering machine, voice mail, or send one via text. You consent to receive SMS messages
(including text messages), calls and messages (including prerecorded and artificial voice and
autodialed), e‐mails or other communications from SoFi Bank, our agents, representatives, affiliates or
anyone calling on our behalf at the specific number(s) you have provided to us, or numbers we can
reasonably associate with your Account, with information or questions about your Account.

You certify, warrant and represent that the telephone numbers that you have provided to us are
your contact numbers. You represent that you are permitted to receive calls at each of the telephone

44
numbers you have provided to us. You agree to promptly alert us whenever you stop using a particular
telephone number.

SOFI BANK, OUR AGENTS, REPRESENTATIVES, AFFILIATES AND ANYONE

CALLING ON OUR BEHALF MAY USE SUCH MEANS OF COMMUNICATION DESCRIBED IN
THIS SECTION EVEN IF YOU WILL INCUR COSTS TO RECEIVE SUCH PHONE MESSAGES,
TEXT MESSAGES, E‐MAILS OR OTHER COMMUNICATIONS.

D. Call Recording.

You agree that SoFi and our agents, representatives, affiliates or anyone calling or contacting you on
our behalf may contact you on a recorded line or recorded messaging service, including via an
automated chatbot. Your communications with SoFi may be monitored, recorded or reviewed by us and
shared with our third-party providers for quality assurance and customer service purposes. Your use of
the SoFi Site constitutes your consent to such monitoring, recording and review. We may also use third
party tools or technology to monitor user experience on our Site. These tools automatically record
information you provide to use on our Site and information about how you interact with our Site,
including pages or links you click, videos you watch, mouse clicks and movements and page scrolling.
We use this information for analytics and to improve Site usability as well as enhance the effectiveness
of our Site, offers, advertising, communications and customer service. Please see our Privacy Policy for
more information.

E. Printing Disclosures.

We recommend that you print for your records, a copy of this Agreement and any Disclosures or
Documents delivered to you electronically.

F. Business Continuity Plan.

If an event occurs which interrupts our ability to provide you with continuous access to your
Account and related services, SoFi Bank has developed a business continuity plan designed to reduce
the customer impact caused by a disruption in service or Account access. In order to help you better
understand the contingency plan and our commitment to help you maintain continuous Account access,
please see the SoFi Business Continuity Plan, which is at www.sofi.com/legal.

G. Account Statements and Interest Statements.

1. Account Statements and Notices

Each month, SoFi Bank will electronically post to your Account an Account Statement, which
will reflect all activity in your SoFi Bank Account for the related statement period. You may view your
Account Statement by logging into your Account online or on the SoFi Mobile App.

You agree to accept electronic, rather than paper Account Statements. This means (i) you must
keep us supplied with your valid email address and (ii) you must agree to accept electronic delivery of
all account communications (like end-of-year tax forms and monthly statements).

45
 You agree that sending the Account Statement to one owner of an Account qualifies as sending
it to all owners.

Please review your Account Statement carefully for any suspected errors or inaccuracies and
report them promptly to SoFi.

For purposes of this Agreement, we are deemed to have made the Account Statement available
to you on the day we notify you that it is available, even if your current email address is invalid.

2. Combined Statements

For SoFi Checking and Savings Accounts, with joint ownership, SoFi reserves the right to send
separate Account Statements for each Account to each account holder at any time and for any reason.
Note that each owner of each Account can request a copy of the Account Statement and will be able to
view all Account activity for the corresponding Accounts through www.sofi.com or the SoFi Mobile
App.

3. Interest Statements.

SoFi Bank is required by law to annually report to you and to the Internal Revenue Service on
Form 1099 any taxable interest, dividends and capital gains credited to your Account, as well as any
taxes withheld. The year‐to‐date interest earned figures shown on your monthly Account Statements
reflect these amounts classified to the best of our current knowledge. Where SoFi Bank is advised prior
to the end of the calendar year that certain interest payments or other items initially characterized as
interest payments should be reclassified, the corrected items will be reflected on a subsequent monthly
Account Statement.

XX. Intellectual Property and Privacy.

A. SoFi Websites and Intellectual Property.

All content on or available on or through the SoFi Bank Platform, is the proprietary property of
Social Finance Inc., its affiliates and its/their licensees. “SoFi Bank” is the marketing name for the SoFi
Bank Accounts and all products and services offered by SoFi Bank.

You may only use the SoFi Bank Platform, and the associated content, for legitimate purposes
in connection with your Account. You may not copy, imitate, modify, distribute, frame, reproduce,
republish, create derivative works from, download, display, perform, post, transmit, transfer, license,
sell or otherwise use such content without the prior written consent of SoFi or SoFi Bank.

B. Exclusion of Warranties.

THE SOFI BANK PLATFORM AND THE RELATED DOCUMENTATION ARE PROVIDED
“AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF TITLE,
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON‐INFRINGEMENT.
WE DO NOT GUARANTEE CONTINUOUS, UNINTERRUPTED OR SECURE ACCESS TO ANY
PART OF THE SOFI BANK PLATFORM, AND OPERATION OF THE SOFI BANK PLATFORM

46
MAY BE INTERFERED WITH BY NUMEROUS FACTORS OUTSIDE OF OUR CONTROL. IN
NO EVENT WILL WE OR ANY THIRD‐PARTY BE LIABLE FOR DIRECT, INDIRECT,
INCIDENTAL, OR CONSEQUENTIAL DAMAGES RESULTING FROM ANY DEFECT IN OR
YOUR USE OF THE SOFI BANK PLATFORM. SOME STATES DO NOT ALLOW THE
DISCLAIMER OF CERTAIN IMPLIED WARRANTIES, SO THE FOREGOING DISCLAIMERS
MAY NOT APPLY TO YOU.

C. Privacy and Monitoring of Account.

We take security of your sensitive information seriously. We maintain industry standard

administrative, technical and physical safeguards to protect your information.

In order to help you better understand our commitment to maintaining your privacy, as well as
our use and disclosure of your information, please review the SoFi Privacy Policy at
https://www.sofi.com/online-privacy-policy/.

You acknowledge and agree that we may monitor and record your use of our websites and
mobile applications and any communications between you and SoFi Bank, whether via the internet,
telephone, mail, or any wireless network, and that we may use any information collected for internal
purposes or, as may be permitted or required by applicable law. Any such monitoring and recording
will be conducted in a manner which is consistent with the SoFi Privacy Policy.

D. Disclosure of Information.

1. Consent to Disclosure of Non‐Public Personal Information in Connection

with Bill Pay Payments.

In working with merchants and vendors to accept or facilitate Bill Pay Payment requests, SoFi
Bank may be asked to share non‐public personal information about you to confirm that you have an
account with the merchant or vendor, to satisfy fraud or compliance procedures or as may otherwise be
required to complete the transaction setup.

By your acceptance of the terms of this Agreement, you are consenting to the sharing by SoFi
Bank of non‐public personal information in connection with Bill Pay Payments, as described above.
All other disclosures of your non‐public personal information shall be made in accordance with the
terms of the SoFi U.S. Consumer Privacy Notice. Your consent to sharing non‐public personal
information will remain in effect until you revoke such consent by updating your settings and visibility.

2. Other Permitted Disclosures.

You understand and agree that we may disclose information about your Account and your
Account activities to certain third parties under the following circumstances:

● As necessary to complete your P2P Transfers, Bill Pay Payments, ATM transactions, Mobile
Wallet transactions or other Account transactions.

● As necessary to permit SoFi and its Third-Party Partners to meet regulatory requirements
including, without limitation, CIP, KYC and other obligations;

47
 ● To investigate any complaint, disputed transaction, transaction inquiry or request you make or
as necessary to investigate potential fraud or misuse related to your Account;

● To respond to third‐party requests from credit bureaus, creditors or other third parties for
account‐related information, to the extent such inquiries are necessary for processing your
transactions or are usual and customary in the course of servicing similar accounts;

● As necessary to comply with any law, government or court order, or subpoena; or

● In accordance with your written permission or as otherwise permitted under the SoFi Privacy
Policy.

E. Referral Policy.

From time to time, and consistent with the SoFi Privacy Policy, SoFi Bank may provide your
contact information to other SoFi affiliates in connection with the marketing of certain products or
services. In the event SoFi Bank provides your information to its affiliates, you may receive solicitation
materials from such affiliates and SoFi Bank (or its employees or representatives) may receive financial
or other benefits for such referrals. You may at any time exercise your right to opt out of receiving such
marketing materials by following the procedure described in the SoFi Privacy Policy at
www.sofi.com/b/policy/privacy.
XXI. Account Fees and Rights of Set‐Off.

A. Payment of Fees and Other Indebtedness.

You agree to pay to SoFi Bank any service fees, processing, and other fees applicable to
transactions and services related to your Account and described in the SoFi Bank Fee Sheet.

SoFi Bank reserves the right to debit your Account to cover amounts payable from your
Account, including ATM withdrawals, P2P Transfers, Bill Pay Payments, checks presented, or fees due.
If you’ve linked your Accounts or selected the Overdraft Protection Option to the extent there are not
sufficient funds to cover the amount of such a debit, the shortfall will be covered in accordance with the
terms of the Overdraft Protection Option or funds on deposit in your SoFi Bank Deposit Accounts will
be withdrawn and applied to cover the amount of the debit, as applicable.

B. Set‐Off Rights and Security Interest.

You agree that, unless prohibited by applicable law, SoFi Bank may take any funds in any of
your Account(s) held by SoFi or any of its affiliates to pay any debt you owe us or liability. This is
called the right of set-off and applies to all funds of yours in our possession now or in the future. We
may use this right of set-off without giving you any notice (unless notice is required by applicable law)
and without going through any legal processes or court proceedings. If this is a joint Account, the right
of set-off applies to deposits of each joint account holder to pay the debts owed to us by any or all
account holders. SoFi Bank may withdraw money from an Account owned by only one person and
apply it to reduce the joint debt of that person and another person. This right of set-off does not apply to
your Account if: (a) it is an IRA or a tax-deferred retirement Account, Health Savings Account, or
Coverdell Education Savings Account; or (b) the debt is created by a consumer credit transaction under

48
a credit card plan; or (c) the debtor’s right of withdrawal arises only in a representative capacity. We
also have a right to place a hold on funds in your Account(s) if we have a claim against you or pending
exercise of our right of set-off. If we place a hold on your Account, you may not withdraw funds from
the Account and we can refuse to pay checks or other items drawn on the Account. In addition to any
right of set-off, you hereby grant to SoFi Bank a security interest in your deposit Accounts to secure all
loans or other extensions of credit, now or in the future.

If SoFi Bank or any of its affiliates incur any obligations or indebtedness in connection with any
transaction executed for your Account, as a result of the insolvency, bankruptcy or otherwise, of any
counterparty to any transaction, such obligations and indebtedness shall be deemed to be incurred by
you to SoFi Bank and any applicable affiliate and to have continued in existence and shall continue to
be effective or be reinstated against you. We and our affiliates shall be entitled to all remedies under
New York law (including set‐off) with respect to such obligations and indebtedness. The provisions of
this Section XXI shall remain in full force and effect regardless of any termination of this Agreement.

XXII. Closing or Suspending Your Account; Dormant Accounts.

A. Account Suspension or Closure.

SoFi Bank reserves the right to freeze, suspend, limit or close your Account at any time and for
any reason. Potential reasons for Account suspension or closure include, without limitation, if: (i) you
fail to fund your Account in the manner described herein promptly after the date of opening, (ii) you
fail to provide requested identification materials at the time you open your Account or prior to certain
activities; (iii) we determine in our sole discretion that your Account activity is inconsistent with
applicable law or the terms of this Agreement, including any SoFi Bank policies and procedures; or (iv)
SoFi Bank believes that your Account is subject to, or being used to facilitate, suspicious, irregular,
unauthorized, fraudulent or illegal activity.

You may close your Account at any time on the SoFi mobile application or website or by calling
SoFi Bank Customer Service at the phone number listed on the SoFi Bank Contact Sheet. Before
closing your Account, you agree that SoFi Bank may debit the Account for any unpaid fees or other
amounts due in connection with your Account. You are responsible for satisfying all amounts due on
your Account, including any negative balance outstanding after all pending transactions have been
posted, or any other unpaid deficiency in your Account, as well as any costs incurred by SoFi Bank,
including legal fees, arbitration costs or collection costs, in collecting any amounts owed by you. In the
event there are insufficient funds in your Account to pay these amounts in full, you agree to reimburse
SoFi Bank for such amounts upon demand.

When your account is closed, we will return any remaining balance to you. We reserve the right
to determine the payment method based on the reason for the closure. The funds will be returned either
electronically or by check. Closing your Account will cancel the SoFi Bank Debit Card(s) associated
with your Account. You will remain liable for all obligations related to your Account and the SoFi
Bank Debit Card which may arise after the Account is closed. If you have both a Checking and Savings
Account and you close your Savings Account, your Checking Account will also be closed.

49
B. Account Closing Considerations.

Please note that you may not immediately close your Account under certain circumstances. For
example:

● If your Account has a negative balance;

● If your Account has a pending SoFi Bank Debit Card transaction or SoFi Bank Pay in 4
transaction or if you have an open Pay in 4 loan (i.e., an unpaid balance);

● If your Account is subject to a hold, lien, or other restriction; or

● If SoFi Bank has reason to believe that the Account is being closed to evade an investigation or
legal process (for example in connection with a disputed transaction or third‐party claim).

If you attempt to close your account while we are conducting an investigation, we may hold
your funds for up to 180 days to protect SoFi Bank or a third‐party against the risk of reversals,
chargebacks, claims, fees, fines, penalties and other liability. You will remain liable for all obligations
related to your account even after the Account is closed.

C. Dormant Accounts.

Assets in your Account may be subject to state and federal law regarding abandoned and
unclaimed property. If there is no activity in your Account (other than periodic interest payments or
similar transactions initiated by us) for a prolonged period, as determined by the law of the relevant
state (typically the state listed as your Account statement address in our records), your Account may be
deemed abandoned, in which case we will turn over the Account Assets in your Account to the
appropriate state authority, as required under applicable law. Unless we have previously determined that
we do not have valid contact information for you, we will generally attempt to contact you prior to the
expiration of the relevant unclaimed property law so that you may claim the account. To the extent
permitted by applicable law, we will deduct from your Account any reasonable expenses we incur in
attempting to contact you and, as necessary, in remitting the Account to the state once it has been
deemed abandoned. Without limiting any other provision of this Agreement, once we have turned over
your abandoned Account Assets to the relevant state authority, we will have no further obligation to
you with respect to the Account, and you must apply to the relevant state authority to reclaim your
property.

D. Account Suspension by SoFi Bank.

If at any time SoFi Bank believes that your Account is being used or managed in a manner inconsistent
with the terms of this Agreement, including Account activity in violation of law or any SoFi Bank
policies and procedures, or if we identify suspicious, irregular, unauthorized, fraudulent or illegal
activity, we may, in our sole discretion, take any action we believe appropriate, including without
limitation, suspending access to certain Account features (e.g., limiting features such as ATM fee
reimbursements), reversing a transaction, placing a partial balance hold, or suspending or freezing your
Account entirely (and any other accounts you maintain with us), or we may remove and segregate
disputed funds from your Account, until such time as we are able to complete our review and
investigation of the Account activity and decide to lift any Account restrictions or holds or close the

50
Account. Potential reasons that may prompt action under the preceding sentence may include without
limitation: (a) your Account is involved in any legal or administrative proceeding; (b) we receive
conflicting information or instructions regarding Account ownership, control or activity; (c) we suspect
that you may be the victim of a fraud, scam or financial exploitation, even though you have authorized
the transaction(s), (d) we reasonably believe that doing so is necessary to avoid a loss or reduce risk to
us, or (e) we are complying in our sole judgment, with any federal, state or local law, rule or
regulation, including federal asset control and sanction rules and anti-money-laundering rules, or with
our policies adopted to assure that we comply with those laws, rules or regulations.

Where permissible, we may, in our sole discretion, provide advance notice to you before
suspending Account features, placing a partial balance hold, or suspending or freezing your Account.
We may post notice of any such action to your Account, or provide notice by mail, email,
telephonically or by other means as described herein. We will not provide advance notice to you if
prohibited by law or regulation from doing so or where we believe that providing such notice could
result in a security or other risk to us or any third‐party.

While an Account is suspended or frozen, SoFi Bank will not honor any debit or other outgoing
transactions, including any Bill Pay Payments, ATM withdrawals, outgoing P2P Transfers or similar
transaction requests. During any such suspension, SoFi Bank may continue to honor all valid credit
transactions, including deposits and incoming P2P Transfers.

XXIII. Bankruptcy, Insolvency, Incompetency and Death.

You agree to give prompt written notice to SoFi Bank in the event of your bankruptcy or
insolvency. If you are a natural person, you agree that your guardian will give SoFi Bank written notice
of your incompetency and that your estate will give SoFi Bank written notice of your death.

SoFi Bank may, before or after receiving notice of any of the conditions described in the
preceding paragraph, commence any proceedings, require any documents, retain any portion of or
restrict transactions in the Account or demand immediate repayment of any amounts owed to SoFi
Bank as it deems advisable in its discretion to protect itself against any potential tax, liability, penalty,
expense or loss arising out of your bankruptcy, insolvency, incompetency, or death. The person subject
to the condition, or the person’s estate, will be liable to SoFi Bank for: (i) any tax, liability, penalty,
expense or loss in the Account resulting from the completion of transactions initiated prior to SoFi
Bank’ receipt of a written notice of the condition; (ii) any tax, liability, penalty, expense or loss incurred
in the liquidation of the Account; and (iii) any other obligations owing with respect to the Account.

XXIV. Legal Process, Indemnification, Limitation of Liability, and Claim Notice and Cure.

A. Legal Process.

SoFi Bank may comply with any state or federal legal process, including, without limitation,
any writ of attachment, adverse claim, execution, garnishment, tax levy, restraining order, subpoena or
warrant relating to you or your Account that we determine to be valid. You agree that we may honor
legal process that is served personally, by mail, or by facsimile transmission at any of our offices
(including locations other than where the funds, records or property sought is held), even if the law

51
requires personal delivery at the office where your account or records are maintained. You agree that
we will have no liability to you for honoring any such legal process. You also agree that we will have
no obligation to assert on your behalf any applicable exemptions to execution or attachment under any
applicable state or federal law. We will also have and may enforce a right of setoff and security interest
against any of your accounts in order to reimburse us for our fees and expenses, including attorneys’
fees, court costs and expenses, in complying with legal process. We may comply with process we deem
appropriate even if it appears to affect the interest of only one owner of a joint account. We may refuse
to permit withdrawals or transfers from your Account until such legal process is satisfied or dismissed
even if such action results in insufficient funds to pay a check you have written or otherwise satisfy an
obligation you may have incurred. We may charge your Account any cost incurred for each legal
process. You agree to pay us for fees and expenses (including administrative expenses) that we incur in
responding to any legal process related to your Account, such as expenses for research and copying of
documents. The fees and expenses may include attorneys’ fees. We may deduct these fees and expenses
from any of your Accounts without prior notice to you. You agree to release and indemnify, defend and
hold us harmless from all actions, claims, liabilities, losses, costs and damages including, without
limitation, attorneys’ fees, associated with our compliance with any legal process we believe to be
valid. When we receive an order instructing us to restrict access to funds in an account, we may remove
the funds from the account and maintain them separately. These funds will not earn interest and will not
be considered as part of your combined balances when we determine rates.

B. Indemnification.

We are responsible for exercising ordinary care and complying with the Agreement. When we
take an item for processing by automated means, ordinary care does not require us to examine the item.
In all other cases, ordinary care requires only that we follow standards that do not vary unreasonably
from the general standards followed by similarly situated banks.

Except to the extent we fail to exercise ordinary care or to comply with the Agreement, you
agree to indemnify and hold us harmless from all claims, demands, losses, liabilities, judgments, and
expenses (including attorney’s fees and expenses) arising out of or in any way connected with our
performance under the Agreement. You agree this indemnification will survive termination of the
Agreement.

Except as otherwise set forth herein, you agree to indemnify and hold harmless SoFi Bank, SoFi
Third‐Party Partners, and any of their affiliates, employees, directors, officers, agents or contractors,
who provide services in connection with your Account from and against any and all losses, liabilities,
claims and costs (including reasonable attorneys’ fees) that are in any way connected with (i) your use
of the Account, the SoFi Bank Platform and any related services, including, without limitation,
attorneys’ fees and other costs incurred in collection of any negative balances or other amounts due in
connection with this Agreement, any transactions initiated by you or for which you are the recipient,
(ii) any intentional or unintentional breach by you of any terms of this Agreement, the SoFi Bank Debit
Card Agreement, the SoFi Mobile Wallet Agreement or any other supplemental agreements or
Disclosures governing your Account, (iii) inaccurate or erroneous information provided by you, (iv)
collecting any amounts you owe to SoFi Bank, SoFi affiliates, SoFi Third‐Party Partners or their
affiliates under this Agreement, (v) responding to any third‐party demands or claims against or related
to you or your Account, (vi) any alleged violation of the law by you, or (vii) any instructions provided
by you, whether delivered electronically, by regular mail or by telephone, provided SoFi Bank follows

52
those instructions and has reasonable procedures in place to prevent Unauthorized Transactions. This
indemnification is in addition to, and does not limit, any rights that SoFi Bank may have to seek
indemnification or recourse from you.

C. Limitation of Liability.

YOU ACKNOWLEDGE AND AGREE THAT FROM TIME TO TIME, YOUR ACCESS TO,
OR ABILITY TO USE, THE SOFI BANK PLATFORM AND YOUR ACCOUNT MAY BE
DELAYED, INTERRUPTED OR DISRUPTED DUE TO CIRCUMSTANCES BEYOND OUR
REASONABLE CONTROL, INCLUDING BUT NOT LIMITED TO, THE INTERRUPTION,
DISRUPTION OR FAILURE OF ANY ELECTRONIC SYSTEM MAINTAINED OR MANAGED
BY US OR A THIRD‐PARTY WHICH IS USED TO FACILITATE A TRANSACTION, OR ANY
INTERRUPTION, DISRUPTION OR FAILURE OF THE SOFTWARE OR INTERNET BASED
ARCHITECTURE USED TO PROVIDE ACCESS AND FUNCTIONALITY TO YOUR ACCOUNT,
ANY ACCOUNT SERVICES OR ANY PART OF THE SOFI BANK PLATFORM, WHETHER
CAUSED BY STRIKES, POWER FAILURES, ACTS OF GOD, CATASTROPHE ,EQUIPMENT
MALFUNCTIONS, INTERNET DISRUPTION, SOFTWARE FAILURE, CYBERSECURITY
EVENTS, MALWARE OR OTHER REASONS. IN NO SUCH EVENT SHALL SOFI BANK, SOFI
THIRD‐PARTY PARTNERS, THEIR AFFILIATES AND ANY OF THEIR EMPLOYEES,
OFFICERS, DIRECTORS OR CONTRACTORS BE LIABLE FOR ANY CLAIM ARISING FROM
OR RELATED TO LOSSES YOU MAY INCUR BECAUSE OF ANY SUCH DELAY,
INTERRUPTION, DISRUPTION OR SIMILAR FAILURE.

Except where expressly prohibited by law, SoFi Bank, any SoFi Third‐Party Partner and their
respective affiliates, employees, officers, directors, agents and subcontractors shall not be liable for any
indirect, special or consequential damages arising out of or related to this Agreement, including without
limitation; (i) except as expressly provided for herein, liability for negligence on the part of SoFi Bank,
any SoFi Third‐Party Partner or their respective affiliates, employees, officers and directors, agents,
and contractors; (ii) damages for lost profits, goodwill or other similar losses; (iii) any claim arising
from the installation, use or maintenance of the SoFi Bank Platform, even if such damages were
reasonably foreseeable and notice was given regarding such damages; or (iv) any claim arising from
delay, interruption failure described in the preceding paragraph. The limitation does not apply where
the laws governing your Account prohibit it.

Additionally, we will not be liable to you for any loss, cost or expense you incur if, for
instance:

● There are insufficient funds in your Account to complete a transaction.

● The funds in your Account are subject to legal hold or restriction or are otherwise not available
for withdrawal;

● Access to your Account has been blocked after we have received information regarding a
reported lost or stolen card, a fraud event, or suspicious Account activity; or

● We have reason to believe a requested transaction or withdrawal is unauthorized or would

violate the terms and conditions of this Agreement or the SoFi Debit Card Agreement.

53
 SoFi Bank, any SoFi Third‐Party Partner or their respective affiliates, employees, officers,
directors, agents, and contractors shall be liable only for actual proven damages arising from the
negligent failure to perform their obligations hereunder, provided however that in no event shall any of
the forgoing be liable for losses or damages in excess of the amount of the transaction from which the
claim arises.

THE FOREGOING SHALL CONSTITUTE YOUR EXCLUSIVE REMEDIES AND THE

ENTIRE LIABILITY OF SOFI BANK, SOFI THIRD‐PARTY PARTNERS, AND THEIR
AFFILIATES, EMPLOYEES, OFFICERS, DIRECTORS, AGENTS OR CONTRACTORS, IN
CONNECTION WITH YOUR USE OF YOUR ACCOUNT AND THE SOFI BANK PLATFORM.

D. Claim Notice and Cure.

You agree that we shall attempt to informally settle any and all Claims (as such term is defined
in the Agreement to Arbitrate below) between us before starting a lawsuit or an arbitration. The party
asserting the Claim (the “Claimant”) shall give the other party (the “Potential Defendant”) written
notice of the Claim (a “Claim Notice”) and a reasonable opportunity to resolve the Claim. Any Claim
Notice must explain the nature of the Claim and the relief that is demanded. The Claim Notice must be
sent by U.S. Mail. The Potential Defendant shall have at least 30 days after receiving the Claim Notice
to attempt to resolve the Claim except for Claims requiring some form of expedited injunctive relief in
a shorter period. The Claimant must reasonably cooperate in providing any information about the
Claim that the Potential Defendant reasonably requests. Further the Claimant, on request, shall meet
with the Potential Defendant (or an authorized representative thereof) either in person or by video or
telephone conference to discuss possible compromise or other resolution of the Claim. Any such
meeting that you attend shall take place in a venue reasonably convenient for you. The Claimant and
the Potential Defendant may have a lawyer or other representative present for such a meeting. Rule 408
of the Federal Rules of Civil Procedure shall govern the admissibility of all statements, conduct or
other discussions between the Claimant and the Potential Defendant regarding the possible compromise
or resolution of the Claim. On request, SoFi Bank shall pay any reasonable, out-of-pocket expenses that
you incur in attending or participating in any such meeting.
Any Claim Notice to you shall be sent in writing to the current address that SoFi Bank has for
you in our records. Any Claim Notice to SoFi Bank shall be sent by mail to SoFi Bank, N.A., 2750 East
Cottonwood Parkway #300, Cottonwood Heights, Utah 84121 (or such other address that we shall
provide to you). If there are multiple account holders, the Claim Notice may be sent to or by any of
them. Any Claim Notice that you send must provide your name and account number, as well as your
address and a phone number where you can be reached during normal business hours. You may only
submit a Claim Notice on your own behalf and not on behalf of any other party. No third party, other
than a lawyer that you have personally retained, may submit a Claim Notice on your behalf.
Any statute of limitations applicable to the Claim described in the Claim Notice shall be tolled
during the period between the date that the Claim Notice is mailed and the later of: (1) 60 days after the
Claim Notice is received, or (2) 30 days after either Claimant or Potential Defendant informs the other
that good faith efforts to resolve the Claim informally have ceased (the “Tolling Period”). Unless
prohibited by applicable law, (1) a lawsuit or arbitration proceeding may not be commenced unless the
Claimant has complied with this “Claim Notice” section, (2) the court will have authority to enforce
this “Claim Notice” section, including the power to dismiss or stay the filing or prosecution of a lawsuit

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or arbitration unless the Claimant has complied with this “Claim Notice” section, and (3) the arbitration
administrator is without authority to accept or administer any arbitration proceeding prior to the
termination of the Tolling Period unless the Claimant has complied with this “Claim Notice” section.
Any subsequent arbitration shall be governed by the terms of the following Agreement.

XXV. Agreement to Arbitrate

Please read carefully. Except as expressly provided below, if the foregoing Claim Notice
and Cure procedure does not resolve the Claim(s), I agree that any claim, dispute, or controversy
(“Claim”) arising out of or relating in any way to: (i) this Agreement; (ii) the establishment or
operation of your Account; (iii) any transactions related to your Account, (iii) the exercise by SoFi
Bank of any rights established hereunder, including the delayed availability of funds, the suspension or
closure of your Account, or any other action taken by SoFi related to your Account; (iv)
advertisements, promotions or oral or written statements related to your Account; (v) any features,
benefits or services related to your Account; no matter how described, pleaded or styled; (vi) data
breach or privacy rights incidents; or (vii) the relationship between the parties resulting from any of the
foregoing, shall be finally and conclusively resolved by binding arbitration. “Claim” has the broadest
possible meaning, and includes initial claims, counterclaims, crossclaims 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 claims for injunctive or
declaratory relief), regardless of whether they arose in the past, currently exist or may arise in the
future. However, you and we will not demand to arbitrate an individual Claim that you or we bring
against one another that is within the jurisdiction of small claims court or your or our state’s equivalent
court, if any. But if that Claim is transferred, removed or appealed to a different court, you and we then
have the right to demand arbitration. After a case is filed with the arbitration administrator, but before
the arbitrator is formally appointed to the case, a party can send a written notice to the opposing party
and the administrator that the dispute is within the jurisdiction of the small claims court (or an
equivalent court) and that it wants the case decided by said court. After receiving this notice, the
administrator will administratively close the case without requiring the payment of filing or any other
administrative fees. Solely for purposes of this agreement to arbitrate, the terms “we,” “us” and “our”
mean (1) SoFi, each of its subsidiaries, affiliates, successors, and assigns, and any of their employees,
officers, directors, agents and representatives; and (2) any third party that you name along with us as
defendants in a single proceeding. This arbitration agreement is made pursuant to a transaction
involving interstate commerce and shall be governed by the Federal Arbitration Act (9 U.S.C. 1-16)
(“FAA”).

Disputes about the validity, enforceability, coverage, or scope of this agreement to

arbitrate or any part thereof (including, without limitation, the class action waiver), are for a
court and not an arbitrator to decide. However, any dispute or argument that concerns the
validity or enforceability of this Agreement as a whole is for the arbitrator, not a court, to decide.

NOTWITHSTANDING THE FORGOING, YOU HAVE A RIGHT TO OPT OUT OF

THIS AGREEMENT TO ARBITRATE, AS DISCUSSED BELOW. UNLESS YOU OPT OUT
OF ARBITRATION, NEITHER PARTY WILL HAVE THE RIGHT TO HAVE CLAIMS
DETERMINED BY A JUDICIAL COURT OR JURY, EACH PARTY WAIVES THE ABILITY
TO ASSERT OR PARTICIPATE IN (A) ANY CLAIM BROUGHT IN A CLASS OR
REPRESENTATIVE BASIS IN COURT OR IN ARBITRATION, (B) ANY PRIVATE

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ATTORNEY GENERAL ACTION, (C) ANY JOINDER OR CONSOLIDATION OF ANY
CLAIM WITH A CLAIM OF ANOTHER PERSON OR ENTITY (EXCEPT FOR
CLAIMANTS WHO ARE ON THE SAME ACCOUNT, OR UNLESS THE PARTIES
OTHERWISE AGREE IN WRITING), OR (D) ANY CLAIM WHICH SEEKS AN AWARD
OR REMEDY IN ARBITRATION AGAINST, OR ON BEHALF OF, ANYONE WHO IS NOT
A NAMED PARTY TO THE ARBITRATION.

This agreement to arbitrate shall survive: (A) the termination of the Agreement; (B) the
bankruptcy or insolvency of either party; (C) the transfer, sale or assignment of your Account or any
amounts owed on the Account to any other person or entity; (D) any closure or suspension of your
Account; or (E) any breach of the Agreement.

If any portion of this agreement to arbitrate is held to be invalid or unenforceable, the remaining
portions shall nevertheless remain in force, subject to two exceptions: (1) if a determination is made
that the class action waiver is unenforceable, and that determination is not reversed on appeal, then the
agreement to arbitrate (except for this sentence) shall be void in its entirety; and (2) if a court
determines that a public injunctive relief Claim may proceed notwithstanding the class action waiver or
other provisions of this agreement to arbitrate, and that determination is not reversed on appeal, then
the public injunctive relief Claim will be decided by a court, any individual Claims will be arbitrated,
and the parties will ask the court to stay the public injunctive relief Claim until the other Claims have
been finally concluded. No arbitrator shall have authority to entertain any Claim on behalf of a person
who is not a named party, nor shall any arbitrator have authority to make any award for the benefit of,
or against, any person who is not a named party.

The party filing a Claim in arbitration must select the American Arbitration Association
(“AAA”) as the arbitration administrator. The AAA will apply its code of procedures in effect at the
time the arbitration claim is filed and, if applicable, its Mass Arbitration Supplementary Rules. If there
is a conflict between that code of procedures or this Agreement, on the one hand, and this agreement to
arbitrate, on the other hand, this agreement to arbitrate will control. In the event that the AAA is unable
to handle the Claim for any reason, then the matter shall be arbitrated instead by a neutral arbitrator
selected by agreement of the parties (or, if the parties cannot agree, selected by a court in accordance
with the FAA). Rules and forms may be obtained from and Claims may be filed with the AAA
(1-800-778-7879 or www.adr.org). Arbitration hearings will take place in the federal judicial district
that includes your address at the time the Claim is filed, unless the parties agree to a different place.

A single arbitrator will conduct the arbitration and will have the power to award to a party any
damages or other relief provided for under applicable law in an individual case. The arbitrator will
apply applicable substantive law, consistent with the FAA and the applicable statutes of limitations or
conditions precedent to suit and will honor claims of privilege recognized at law. The arbitrator can
award damages or other relief provided for by law to you or us, but not to anyone else. The arbitrator’s
authority is limited to the Claims between you and us. Any finding, award or judgment from an
arbitration of any Claim shall apply only to that arbitration. No finding, award or judgment from any
other arbitration shall impact the arbitration of any Claim.

The arbitrator’s decision will be final and binding on the parties. A party can file a written
appeal to the arbitration administrator within 30 days of award issuance for Claims involving more than

56
$25,000. The appeal must request a new arbitration in front of three neutral arbitrators designated by
the same arbitration administrators. The panel will reconsider all factual and legal issues, following the
same rules of procedure, and will make decisions based on majority vote. Any final arbitration award
will be binding on the named parties, subject to any appeal rights under the FAA, and enforceable by
any court having jurisdiction.
Payment of all filing, administration and arbitrator fees (collectively, the “Arbitration Fees”)
will be governed by the AAA Rules. However, if you tell us in writing that you cannot afford to pay
the fees charged by the AAA or other arbitration administrator and that you were unable to obtain a
waiver of fees from the administrator, and if your request is reasonable and in good faith, we will pay
or reimburse you for all or part of the fees charged to you by the arbitration administrator and/or
arbitrator. The parties shall also bear the fees and expenses of their own attorneys, experts and
witnesses unless otherwise required by applicable law, this Agreement or the administrator’s rules. If
the arbitrator determines that any party’s claim or defense is frivolous or wrongfully intended to
oppress or harass the other party, the arbitrator may award sanctions in the form of fees and expenses
reasonably incurred by the other party if such sanctions could be imposed under Rule 11 of the Federal
Rules of Civil Procedure. All aspects of the arbitration proceeding, and any ruling, decision, or award
by the arbitrator, will be strictly confidential for the benefit of all parties.

YOU MAY REJECT THIS AGREEMENT TO ARBITRATE BY CALLING US AT

1-855-456-7634 OR WRITING TO US AT SOFI BANK, N.A., 2750 EAST COTTONWOOD
PARKWAY #300, COTTONWOOD HEIGHTS, UTAH 84121, AND STATING THE FOLLOWING
IN YOUR NOTICE: (I) YOUR NAME, (II) YOUR ADDRESS, (III) YOUR PHONE NUMBER, (IV)
THAT YOU ARE EXERCISING YOUR RIGHT TO REJECT ARBITRATION UNDER SECTION
XXV OF THE DEPOSIT ACCOUNT AGREEMENT (A “REJECTION NOTICE”) AND (V) THE
ACCOUNT NUMBERS FOR WHICH YOU ARE EXERCISING SUCH RIGHT. YOUR
REJECTION NOTICE MUST BE RECEIVED WITHIN NINETY (90) DAYS AFTER THE
OPENING OF THE ACCOUNTS FOR WHICH YOU ARE EXERCISING YOUR RIGHT TO
REJECT ARBITRATION. IF YOUR REJECTION NOTICE COMPLIES WITH THESE
REQUIREMENTS, THIS AGREEMENT TO ARBITRATE WILL NOT APPLY TO ANY
ACCOUNTS FOR WHICH YOU ARE EXERCISING YOUR RIGHT TO REJECT ARBITRATION,
EXCEPT FOR ANY CLAIMS SUBJECT TO PENDING LITIGATION OR ARBITRATION AT THE
TIME YOU SEND YOUR REJECTION NOTICE. REJECTION OF THE AGREEMENT TO
ARBITRATE WILL NOT AFFECT YOUR OTHER RIGHTS OR RESPONSIBILITIES UNDER
THIS AGREEMENT.

XXVI. Miscellaneous.

A. Successors and Assigns.

You agree that: (i) the terms of this Agreement shall inure to the benefit of SoFi Bank and its
successors and assigns, whether by merger, consolidation or otherwise; (ii) SoFi Bank may transfer the
Account, this Agreement and any of its obligations hereunder to its successors and assigns without
further consent from you; and (iii) the terms of this Agreement shall be binding upon your heirs,
executors, administrators, successors and assigns.

You may not transfer your interests in your Account or this Agreement (including de facto
transfer by giving a non‐owner access to the Account using a password) except with the prior written

57
approval of SoFi Bank, or through inheritance or a similar circumstance, as allowed by law, in which
case any rights and obligations in existence at the time will accrue to, and be binding on, your heirs,
executors, administrators, successors or assigns.

B. Governing Law.

You agree that this Agreement and its enforcement shall be governed by the laws of the State of
New York, without reference to conflicts of law principles.

C. Severability.

If any provision or condition of this Agreement is or becomes inconsistent with any applicable
present or future law, regulation or rule or shall be held invalid or unenforceable by a court, regulatory
(or self‐regulatory) agency or body, whether local, state, or federal (i) such provision or condition shall
be deemed rescinded or appropriately modified, and (ii) all other provisions and conditions of this
Agreement shall remain in full force and effect.

D. Modification.

Except as herein otherwise expressly provided, no provision of this Agreement shall be waived,
altered, modified or amended unless such waiver, alteration, modification or amendment be in writing
and signed by SoFi Bank and you. SoFi Bank has the right to amend this Agreement at any time with
advance or contemporaneous notice in writing. Any amendments will be effective on the date specified
in the notice or as otherwise described in this Agreement.

E. Headings Are Descriptive.

The section headings are for descriptive purposes only and shall not be deemed to modify or
qualify any of the rights or obligations set forth in this Agreement.

F. Disputing Information Reported to a Consumer Reporting Agency

If you believe that we have reported inaccurate or incomplete information about your account to
a consumer reporting agency, you have the right to file a dispute with that consumer reporting agency.
You may also submit a dispute directly to us by writing to the relevant address listed in the SoFi Bank
Contact Sheet. Provide your name, address and phone number; the account number; the specific
information you are disputing; an explanation of why it is inaccurate or incomplete; and any supporting
documentation.

G. Compliance with Laws.

We agree to perform all services with respect to your Account using reasonable care, good faith
and in compliance with applicable Federal, state and local laws, rules and regulations. You are to use
your Account solely for transactions that comply with all applicable laws and regulations, and you
agree not to use your Account or your relationship to SoFi Bank to process transactions that are
prohibited by law, including, but not limited to, restricted transactions prohibited by the Unlawful
Internet Gambling Enforcement Act of 2006.

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 You agree that you are responsible for your tax obligations and any funds in, or to be deposited
in, your accounts are not proceeds from any criminal activity (including, but not limited to, tax crimes).
Funds in, and any income derived from, your accounts will be disclosed to the relevant tax authorities,
if required by law. All information that has been provided is complete and accurate, including any
information pertaining to your country of citizenship, residence, principal place of business and any
other relevant information to determine legal and tax status. You agree to notify us and/or provide us
with any changes related to your tax affairs as we may request in order to comply with our regulatory
obligations.

H. Force Majeure.

SoFi Bank shall not be liable for: (i) force majeure or other events beyond the control of SoFi
Bank, including without limitation any failure, default or delay in performance resulting from computer
or other electronic or mechanical equipment failure, unauthorized access, theft, operator errors,
government restrictions, exchange or market rulings or suspension of trading, strikes, failure of
common carrier or utility systems, severe weather or breakdown in communications not reasonably
within the control of SoFi Bank or other causes commonly known as “acts of god,” whether or not any
such cause was reasonably foreseeable; or (ii) general market conditions unrelated to any violation of
this Agreement by SoFi Bank.

I. Entire Understanding.

This Agreement, together with any Disclosures provided to you, any other agreements you and
we enter into relating to your Account or to particular products or services, any procedures established
by SoFi Bank with respect to the use of your Account, the terms contained in your Account Statements,
collectively contain the entire understanding between you and SoFi Bank concerning your Account.
This Agreement is in addition to (and in no way limits or restricts) any of the provisions of, or the
rights which you may have under, any other agreements between you and SoFi Bank.

J. Counterparts.

This Agreement may be accepted and agreed to electronically in any number of counterparts by
you, each of which will constitute an original and all of which, when taken together, will constitute one
and the same instrument.

XXVII. SoFi Bank Customer Confirmation, Consent, and Acknowledgement.

By acknowledgement below:

● I confirm the truth and accuracy of the information provided by me in the related account
application form.

● I confirm the truth and accuracy of each acknowledgement and representation made by me in
this Agreement.

● I confirm that I have read, understand, consent to, and agree to be bound by the terms and
conditions of this Agreement, each agreement or disclosure incorporated herein, including

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without limitation, the SoFi Bank Debit Card Agreement and the SoFi Bank Mobile Wallet
Agreement.

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