These Terms of Use form a contract between you and Cashalot Inc. (“Cashalot”) governing your use of Cashalot’s services. You must be in the United States and have a U.S. bank account to access and use the services. You agree to comply with all of the terms and conditions in these Terms of Use, which include an agreement to resolve disputes by arbitration on an individual basis. You also agree to comply with the following additional policies and each of the other agreements that apply to you (“Ancillary Documents”):
Privacy Statement
Consent to Receive Electronic Disclosures (E-Sign Disclosure and Consent)
The applicable terms governing the products and services provided by Cashalot’s service providers, as further referenced in these Terms of Use
We and our service providers may revise these Terms of Use and any of the policies listed above from time to time. The revised version will be effective at the time we and our service providers post it, unless otherwise noted. If the changes reduce your rights or increase your responsibilities we will provide notice to you at least twenty-one (21) days, subject to applicable law. By continuing to use the services after any changes to these Terms of Use or the Ancillary Documents become effective, you agree to abide and be bound by those changes. If you do not agree with any changes to these Terms of Use or the Ancillary Documents, you may close your account.
In the event of a conflict between these Terms of Use and the Ancillary Documents, these Terms of Use shall control. However, where these Terms of Use are silent and the Ancillary Documents address a specific matter, such as linking bank accounts and authorization to debit or credit, the Ancillary Documents shall control.
Cashalot is not a money transmitter and does not perform any money transmission, money transfer, or payment services.
In order to use the payment or money transfer functionalities in your Cashalot account, you must first open a Dwolla Platform account provided by Dwolla and you must accept the Dwolla Terms of Service and Privacy Policy. Any funds held in or transferred through the Dwolla Platform account are held or transferred by Dwolla’s financial institution partners as described in the Dwolla Terms of Service. You authorize Cashalot to collect and share with Dwolla your personal information including full name, date of birth, social security number, physical address, email address and financial information, and you are responsible for the accuracy and completeness of that data. Dwolla may, at its discretion, impose limits on the amount and/or the number of payments and transfers you can send and receive.
You understand that you will access and manage your Dwolla Platform account through the Cashalot application, and Dwolla account notifications will be sent by Cashalot, not Dwolla. We will provide customer support for your Dwolla account activity, and can be reached at www.cashalot.app or [email protected].
We offer accounts for two types of purposes: personal accounts and approved business accounts. You may only have one personal account. To create a personal account, you must be a resident of the United States or one of its territories, be at least eighteen (18) years old or the age of majority in your state of residence, and use a cellular/wireless telephone number that you own. Your account is a personal account unless you have received our express written approval to open a business account. Personal accounts let you do things like:
Make payments with friends.
Transfer money for purchases of goods and services.
If you plan to use your personal account to receive payments for goods or services, you must ask your buyer to identify that their payment is for goods and services or have a business profile. Keep confidential any credentials used to access your account and services. You must keep your phone number, email address and other contact information current in your account profile.
You shall only use your Cashalot account and our services for lawful and legitimate purposes and you will at all times comply with all applicable federal, state, and local laws, rules, regulations, and guidance.
You are solely responsible for keeping secret your login information and password. You are responsible for all activity conducted using your Cashalot account whether or not you authorized said use. Cashalot will never ask you for your login information or password on any application.
The fees applicable to our services can be found on the Fees page. Fees may change from time to time at our sole discretion.
To hold a balance and use money sent to you for Cashalot payments to other users or authorized merchants, we must verify the identifying information you provide to us as required by our service providers. Until you verify the required identifying information, you (i) will not be able to use the payment functionality of the app, and (ii) will be able to receive money into your account but you will only be able to transfer the money you receive out of Cashalot to a linked bank account.
If we and our service providers have verified the required identifying information that you provide to us, Cashalot may offer you the ability to add money to your balance from a linked bank account, subject to the applicable fees found on the Fees page. Otherwise, you cannot add money. Remember, you may use the payment methods linked to your personal account to fund transactions and a Cashalot balance is not needed to send money or buy something using your account.
Money in your account may be transferred out of Cashalot by:
Transferring it via standard transfer to a bank account linked to your account for free, or
Transferring it via Instant Transfer to an eligible bank account linked to your account, subject to the fees applicable to such transfers that can be found on the Fees page.
We may set limits on your bank transfers, as applicable. The fees applicable to transferring money out of Cashalot can be found on the Fees page. Fees and limits may change from time to time in our sole discretion.
You can send money to or request money from a friend, even if they don’t have a Cashalot account at the time you send the payment, using their email address or mobile number. If the friend does not have a Cashalot account, they can claim the payment by opening an account with us. If they don’t claim any money sent within thirty (30) days of the date it is sent, the payment will be canceled and any money (including any fees you were charged) will be sent back to you.
You can receive payments for the sale of goods and services only by using a business profile or by asking the sender to identify a payment as for goods and services. Selling on Cashalot, including receiving payments in your business profile or that are identified as for goods and services, is subject to applicable fees for such payments found on the Fees page.
Cashalot may offer you the ability to create a single business profile in addition to your personal account. To be eligible, you must be an individual with a Cashalot account in good standing and complete any required application process, including verification of the required identifying information. If you create a business profile for a business legal entity (instead of opening a business profile on behalf of an unincorporated business/sole proprietorship), you agree that you are a legal representative of that business and are authorized to accept these Terms of Use and the Ancillary Documents on its behalf. By creating a business profile, you authorize us, directly or through our service providers, to make any inquiries we consider necessary to verify your identity or the status of your business.
You may close your account and terminate your relationship with us at no cost, but you will remain liable for all obligations related to your account even after the account is closed. Any incomplete transactions or transfers must be completed or canceled, and you must transfer any money from any personal or business profiles of your account before closing it.
If your personal account is closed for any reason, any business profile will also be canceled.
When using Cashalot’s products and services, you may have the ability to post content (e.g., payment descriptions, business description, comments and/or photos). You are solely responsible for all content that you provide, post, upload or submit. We are not responsible for evaluating the accuracy, truthfulness, usefulness, legality, safety, morality or applicability of any content posted by users. Cashalot does not endorse, guarantee, make representations or provide warranties regarding any such content. Cashalot may, in its sole discretion, reject or remove any content that violates our content standards below or for any other reason we deem the content inappropriate.
Company will not tolerate objectionable content or abusive users. Application has a feature to report users or objectionable content so it can be flagged and the Company further reserves the right to take strict action against it.
App developer are responsible to act on objectionable content reports within 24 hours by removing the content and ejecting the user who provided the offending content.
You may not post or submit any content that is:
false, misleading, deceiving, inaccurate or dishonest.
defamatory or invasive of another person’s right of privacy or right of publicity.
harmful, obscene, harassing, abusive, offensive, objectionable, violent or condoning violence or harm, displaying nudity or sexual activity, or otherwise unfit for publication.
inciting hatred of individuals or groups based on race or ethnic origin, religion, nationality, disability, gender, age, veteran status, or sexual orientation/gender identity; portraying or inciting animal cruelty or neglect.
illegal, such as criminal activity, obscenity, child pornography, human exploitation, gambling, drug use, firearms or ammunition, piracy and infringement of intellectual property or other proprietary rights.
creating a privacy or security risk to any person.
spam, letters or pyramid schemes.
in Cashalot’s sole discretion, objectionable or exposes users to harm or liability.
By opening a Cashalot account and using our services, you consent to receive all communications, terms, disclosures, notices, and statements (“Communications”) from Cashalot electronically and you confirm that you can access, receive and retain such Communications. Cashalot will provide Communications by posting them on www.cashalot.app or by emailing them to you at the email address you provided when opening or updating your Cashalot account. A Communication to you will be deemed to have been received twenty-four (24) hours after we have posted it to our website or emailed it to you.
You may withdraw your consent to receive Communications electronically by contacting us at [email protected]. Because the nature of our services requires delivery of Communications electronically, we will close your Cashalot account upon receipt of notice of your intent to withdraw such consent.
When you buy something from a seller on Cashalot, either by sending a payment to a business profile or identifying it as for goods and services, and the transaction is refunded, the money will be sent back to your personal account. If you receive a payment through a business profile or for otherwise selling goods and services and that payment is later refunded or invalidated for any reason, you are responsible for the full amount of the payment sent to you plus any fees. If you refund a transaction, we’ll retain the fees you paid as set out on our Fees page.
If you send or receive a payment through a personal profile that is later invalidated for any reason, you may be liable for the full amount of the payment and we may recover the amount of the payment (plus any fees) from you. We may recover the amount of the payment from either the sender or the recipient of an invalidated payment in our discretion (subject to applicable law).
If a payment is invalidated because the originating bank declined or reversed the transaction, then you may be liable for the payment even if you disagree with the decision of the originating bank to decline or reverse the payment. If you believe that a payment initiated with your Cashalot account was not authorized, then you must notify us immediately, even if you (or someone else) disputes the transaction with the originating bank. If you fail to report the unauthorized activity directly to us, then we may recover the amount of the reversed payment from you, as described above and in the Ancillary Documents.
If we invalidate and reverse a payment that you made to a recipient (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment and may pursue those rights directly or on your behalf, at our discretion.
Cashalot’s service providers may review account and transaction activity at various times, including when bank transfers are initiated, for the service provider’s own purposes. In connection with this review process, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and access to the money in it or that is sent to you until verification is completed.
We may place a hold on transactions involving your account if, in our sole discretion, we believe that there may be a high level of risk associated with you or that placing such a hold is necessary to comply with state or federal regulatory requirements or legal process. We make decisions about whether to place a hold based on a number of factors, including information available to us from both internal sources and third parties. We may release the hold earlier under certain circumstances, but any earlier release is at our sole discretion.
We, in our sole discretion, reserve the right to suspend or terminate these Terms of Use, your access to or use of our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, or some or all of the services for any reason and at any time upon notice to you and, upon termination of these Terms of Use, the payment to you of any unrestricted money being held for you.
If you do not log in to your personal account for six (6) months, we may close your Cashalot account and our service providers may be required by law to deem the funds to be abandoned after a certain period of inactivity. Where required by law, we will attempt to notify you if we believe your account is dormant; if you do not respond to such attempts to notify you by providing instructions as to how to handle your remaining balance, our service providers will deliver them to the appropriate government authority. If we do not have sufficient information from you to determine your state of residence, our service providers will deliver your balance per the applicable terms governing their products and services.
We may deduct amounts owed to us, in whole or in part, from money that is sent to your Cashalot account later, either by you or from payments sent to you. If you continue using your Cashalot account when you have amounts owed to us, you authorize us to combine amounts owed to us with any debit or transaction sent from your Cashalot account. In addition to the above, if you have a past due amount owed to us, we may debit your Cashalot account to pay any amounts that are past due. IF YOU HAVE AMOUNTS PAST DUE, YOU SHOULD CONFIRM THAT LINKED PAYMENT METHODS CONTAIN FUNDS SUFFICIENT TO COVER ANY AMOUNTS PAST DUE. THIS WILL HELP YOU AVOID OVERDRAFT OR OTHER FEES YOUR FINANCIAL INSTITUTIONS MAY CHARGE.
You have the right to receive account statements showing your account activity. You may view your account statements by accessing the Account & Settings section of the app.
Our fees do not include any taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction (collectively, “taxes”). It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, including transactions through your business profile or that are marked as for goods and services, and it is solely your responsibility to assess, collect, report and remit the correct taxes to the appropriate authority.
If any proceeding by or against you is commenced under any provision of the United States Bankruptcy Code, as amended, or under any other bankruptcy or insolvency law, we’ll be entitled to recover all reasonable costs or expenses (including reasonable legal fees and expenses) incurred in connection with the enforcement of these Terms of Use.
Cashalot grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use our software in accordance with the documentation accompanying such software, including these Terms of Use. This license grant applies to the software and all updates, upgrades, new versions and replacement software. You may not rent, lease or otherwise transfer your rights in the software to a third party. You must comply with the implementation, access and use requirements contained in all documentation accompanying the services. If you do not comply with implementation, access and use requirements you agree you will be liable for all resulting damages suffered by you, us and/or third parties. We may update or discontinue any software upon notice to you. While we may have (i) integrated certain third party materials and technology into any web or other application, including its software, and/or (ii) accessed and used certain third party materials and technology to facilitate providing you with the services, you have not been granted and do not otherwise retain any rights in or to any such third party materials. You agree not to modify, alter, tamper with, repair, copy, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software or any third party materials or technology, or otherwise create any derivative works from any of the software or third party materials or technology. You acknowledge that all rights, title and interest to our software are owned by Cashalot and any third party materials integrated therein are owned by our third party service providers.
We do not claim ownership of the content that you provide, upload, submit or send to us. When you provide content to us or post content using Cashalot services, you grant us, our affiliates and our users (including parties that we work with) a non-exclusive, perpetual, irrevocable, royalty-free, fully paid-up, transferable, sublicensable and worldwide license to duplicate, copy, display, publish, upload, perform, distribute, modify, create derivative works, delete, post, forward to others and otherwise use your content and associated intellectual property and publicity rights to help us improve, operate, promote, advertise and market our current services and develop new ones, in any form, language, medium or technology now known or later developed. We will not compensate you for any content. You further represent and warrant that (1) you own or otherwise have all the licenses, rights, consents and permissions in your content necessary to make the above license and grant, (2) your content is accurate, and (3) your content and our use of your content do not and will not infringe any intellectual property, privacy, proprietary or publicity rights, or otherwise violate confidentiality obligations, these Terms of Use, the Ancillary Documents or applicable law. Further, you agree to waive your moral rights and promise that you will not assert any rights in your content against us.
You must indemnify Cashalot for actions related to your account and your use of the services. You agree to defend, indemnify and hold Cashalot harmless from any claim or demand (including reasonable legal fees) made or incurred by any third party due to or arising out of your breach of these Terms of Use, your improper use of the services, your violation of any law or the rights of a third party, and/or the actions or inactions of any third party to whom you grant permissions to use your account or access our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, or any of the services on your behalf.
Cashalot’s liability is limited with respect to your account and your use of the services. In no event shall Cashalot be liable for lost profits or any special, incidental or consequential damages (including without limitation damages for loss of data or loss of business) arising out of or in connection with our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, any of the services, or these Terms of Use (however arising, including negligence), unless and to the extent prohibited by law. Our liability to you or any third parties in any circumstance is limited to the actual amount of direct damages.
In addition, to the extent permitted by applicable law, Cashalot is not liable, and you agree not to hold Cashalot responsible, for any damages or losses (including, but not limited to, loss of money, goodwill, or reputation, profits, or other intangible losses or any special, indirect, or consequential damages) resulting directly or indirectly from: (1) your use of, or inability to use, our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf, or any of the services; (2) delays or disruptions in our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf and any of the services; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf or any of the services, or any website or service linked to our websites, software or any of the services; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used to provide any of the services) operated by us or on our behalf or any of the services, or in the information and graphics obtained from them; (5) the content, actions, or inactions of third parties; (6) a suspension or other action taken with respect to your account; or (7) your need to modify practices, content, or behavior, or your loss of or inability to do business, as a result of changes to these Terms of Use or our policies.
As stated above under Cashalot’s Service Providers, Cashalot is not a money transmitter and does not perform any money transmission, money transfer or payment services. Cashalot expressly disclaims all liability to you pertaining to any outstanding money transmission, money transfer, and payment obligations owed to you.
The services are provided “as-is” and without any representation or warranty, whether express, implied or statutory. We specifically disclaim any implied warranties of title, merchantability, fitness for a particular purpose and non-infringement. We do not have any control over the products or services provided by sellers in the Cashalot platform, and we cannot ensure that a Cashalot user or a seller you are dealing with will actually complete the transaction or is authorized to do so. We do not guarantee continuous, uninterrupted or secure access to any part of the services, and operation of our websites, software, or systems operated by us or on our behalf may be interfered with by numerous factors outside of our control. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply.
If you have a dispute with any other Cashalot account holder, you release us from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes. In entering into this release, you expressly waive any protections (whether statutory or otherwise) that would otherwise limit the coverage of this release to include only those claims which you may know or suspect to exist in your favor at the time of agreeing to this release.
You and Cashalot (the “Parties”) agree that any past, present, or future dispute, claim or controversy relating in any way to your account or use of the services, or any other relationship or transaction between you and Cashalot, will be resolved by binding arbitration as discussed below, and not through litigation in any court. Such disputes are called “Claims” for purposes of these Terms of Use. This binding agreement to arbitrate applies regardless of whether the dispute is between you and Cashalot jointly or separately. This arbitration agreement is entered into pursuant to the Federal Arbitration Act, 9 U.S.C. §§ 1-16. The arbitration shall be conducted by a single neutral arbitrator acting under the administration of United States Arbitration and Mediation, MidWest, Inc., and in accordance with the then-applicable United States Arbitration and Mediation Rules of Arbitration. Unless the Parties agree otherwise, or unless the arbitration administrator’s rules or law require otherwise, the arbitration shall be held in Austin, TX. The arbitrator will decide the Claim in accordance with all applicable law, including recognized principles of equity and statutes of limitations, and will honor all privileges recognized by law. The arbitrator will have the authority to award to a Party any damages or relief provided for under applicable law. The arbitrator’s decision shall be final and legally binding and may be enforced by any court having jurisdiction. If you elect to proceed with respect to any Claim by an individual action in a small claims court, or its equivalent, instead of arbitration, Cashalot will not object, however, any such action shall be taken in small claims court in Austin, TX. If the arbitrator or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrator’s rules or applicable law. Apart from the foregoing, each Party will be responsible for any other fees or costs, such as attorney fees that the Party may incur. If you consider that you are unable to afford any fees or costs that would be yours to pay, you may request that we pay or reimburse them, and we will consider your request in good faith. ARBITRATION WITH RESPECT TO A CLAIM IS BINDING AND NEITHER PARTY WILL HAVE THE RIGHT TO LITIGATE THAT CLAIM THROUGH A COURT. IN ARBITRATION THE PARTIES WILL NOT HAVE THE SAME RIGHTS THAT APPLY IN COURT, SUCH AS THE RIGHT TO A TRIAL BY JUDGE OR JURY AND THE RIGHT TO PARTICIPATE OR BE REPRESENTED IN PROCEEDINGS BROUGHT BY OTHERS SUCH AS CLASS ACTIONS OR SIMILAR PROCEEDINGS. IN ADDITION, THE RIGHT TO DISCOVERY AND THE RIGHT TO APPEAL MAY ALSO BE LIMITED OR ELIMINATED IN ARBITRATION. ALL OF THESE JUDICIAL RIGHTS ARE WAIVED WITH RESPECT TO CLAIMS.
To the fullest extent permitted by law, the Parties agree that no class actions or similar process, and no joinder or consolidation of any Claim with a Claim of any other person or entity, shall be allowable. In arbitration, the arbitrator shall have no authority to entertain any Claim on behalf of a class, group, person, or entity who is not a named party to the arbitration, nor shall any arbitrator have authority to make any award for the benefit of, or against, any class, group, person, or entity who is not a named party to the arbitration. In the event that there is a dispute about whether limiting arbitration to non-class proceedings, or to the named parties, is enforceable under applicable law, then that question shall be resolved by a court rather than by an arbitrator; and to the extent it is determined that resolution of a Claim must proceed on a class basis, it shall so proceed in a court of competent jurisdiction rather than in arbitration. In the event that any dispute proceeds in court, each party irrevocably waives any right to trial by jury in any proceeding with regard to any Claim.
You understand and agree we will not be held responsible for any losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond our control. In such an event, we may suspend your account and services and our service providers may suspend service and access to funds in a holding account.
You may not transfer or assign any rights or obligations you have under this user agreement without our prior written consent. We may transfer or assign this user agreement or any right or obligation under this user agreement at any time.
These Terms of Use, along with the Ancillary Documents, set forth the entire understanding between the Parties with respect to your use of any of Cashalot’s products and services. Any failure of Cashalot to enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision. Any provision of these Terms of Use held to be invalid or unenforceable under applicable law shall be struck, and the remaining provisions will continue in full force and effect.
You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in these Terms of Use, the laws of the State of Texas, without regard to principles of conflict of laws, will govern these Terms of Use and any claim or dispute that has arisen or may arise between you and Cashalot.
Via mail: Cashalot Inc., 701 Tillery Street, Unit 12 – 1359, Austin, TX 78702
Via email: [email protected]
Via website: www.cashalot.app/contact-us and www.cashalot.app/help
