CrowdPay™ Inc. dba CrowdPays™ Service Agreement
CrowdPays underwrites the CrowdPays Calculator, which determines your Internal Return Rate and ensures a Cash-Flow Distribution Schedule to optimize your savings. This agreement outlines the terms under which CrowdPays™ will act as your concierge bill pay and money transmission service, managing your household bill payments and expenses using the funds you send us weekly. This service offers an opportunity to generate monthly savings for W-2 employees who use checking accounts to pay their bills.
By opting into this service, you agree to send weekly contributions to CrowdPays™, which will be used to pay your household expenses and bills on your behalf. In exchange, CrowdPays™ offers a no-risk strategy designed to generate additional savings for your household.
- Weekly Contributions for Bill Pay
1.1. Each week, you agree to send a predetermined amount to CrowdPays™ via authorized ACH or linked account transfer. This amount is calculated using the CrowdPays™ Calculator and reflects the total required to pay your monthly household expenses and discretionary spending, distributed over weekly installments.
1.2. Upon receipt of your weekly contribution, CrowdPays™ will pay all approved household bills on your behalf and deposit your discretionary allowance to the designated debit card(s) according to your submitted household plan.
1.3. You understand that your weekly contribution is based solely on your calculated expense schedule. You are not required to send any savings or additional amounts beyond what is calculated and agreed upon.
- Termination of Contract
2.1. This bill pay contract will become null and void if you, the client, experience a significant loss of direct deposit income due to job loss or other financial hardship, or if you discontinue use of the CrowdPays™ system.
2.2. You may terminate this contract at any time, for any reason, without penalty.
- Payment Processing and Accountability
3.1. By providing CrowdPays™ with your Payees’ names and account information, you authorize CrowdPays™ to follow the Payment Instructions you provide. Payments will be scheduled to ensure they arrive as close to the Business Day designated by you as reasonably possible. However, we recommend all Scheduled Payment Dates be set at least five (5) Business Days before the actual due date.
3.2. CrowdPays™ will incur no liability for late payments caused by Payee delays, incorrect account details, or insufficient funds. If a payment is not processed on time, you may cancel this agreement and request a refund of any outstanding amounts.
3.3. If a scheduled contribution fails due to insufficient funds (NSF), you will be notified and may resubmit the contribution manually. CrowdPays™ may also request reauthorization to retry the transfer within 30 days, including a $10.00 charge per failed attempt, processed as a separate transaction.
- Client Access and Transparency
4.1. You may log into your CrowdPays™ account at any time to:
- View paid and pending bills,
- See your Cash-Flow Distribution Schedule,
- Monitor account balances,
- Track your household savings,
- Direct savings to any external account.
4.2. You are responsible for protecting your login credentials. Any unauthorized transactions due to shared or compromised credentials are your responsibility. Please report any suspected unauthorized activity immediately.
- Client Protections and Liabilities
5.1. You will not be held liable for any payment failures resulting from a malfunction in the CrowdPays™ system or external factors beyond our control (e.g., weather events, payment processor outages).
5.2. In the case of an error or unauthorized transaction, contact CrowdPays™ within two (2) Business Days. If you delay more than 60 days, you may be held responsible for the unauthorized amount unless you provide a valid reason for the delay.
- Prohibited Payments
6.1. CrowdPays™ will not process the following types of payments:
- Federal, state, or local tax payments,
- Court-ordered obligations (e.g., child support, fines),
- Payments to international Payees or financial institutions outside the U.S.
- Exclusions of Warranties
7.1. CrowdPays™ makes no warranties, express or implied, regarding the performance, timeliness, or suitability of the service for any specific household or financial goal.
- Disclosures of Account Information
8.1. CrowdPays™ treats your account information as confidential and does not share it except under the following conditions:
- To confirm payment instructions to a Payee,
- When required by law or subpoena,
- With your express written authorization.
- Errors and Dispute Resolution
9.1. To dispute a transaction, notify CrowdPays™ within 60 days from the date the error first appears on your statement. We will investigate and resolve the issue within ten (10) Business Days.
- Cash-Flow Distribution and Savings
10.1. CrowdPays™ follows a Cash-Flow Distribution Schedule to ensure your bills are paid in full and on time while optimizing available savings. Savings may vary by household and range between 4% to 100% of monthly expenses depending on your plan and referral activity.
10.2. If CrowdPays™ does not meet the agreed-upon benchmarks for bill payment accuracy or savings delivery, you may terminate this agreement and request a refund of any remaining balance.
- Legacy Loan™ Eligibility
11.1. Active participants in the CrowdPays™ platform who make consistent weekly contributions may qualify for the 96-Month Legacy Loan™—a monthly, non-taxable distribution issued according to your Cash-Flow Distribution Schedule.
11.2. Eligibility for the Legacy Loan™ is contingent upon active enrollment in the CrowdPays™ bill pay service, a verified deposit history, and ongoing participation in good standing.
11.3. Discontinuing service, missing deposits, or terminating your agreement may result in loss of access to future Drip Loan™ distributions. The Legacy Loan™ is a participation-based funding benefit and not a traditional credit-based loan product.
By signing or opting into this agreement, you acknowledge and agree to the above terms and conditions.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement this date, ___________
CrowdPay, Inc.,
Printed Name: Karriem Ali
Title: Chief Operating Officer
Authorized Signature _________________________________________________
THE CrowdPayer
| Printed Name: ____________________________________________________
Authorized Signature _____________________________________________ |
Date______________________