Effective as of January 2, 2025
Deposit Agreement
Deposit Agreement v.1.1
This Deposit Agreement details the terms governing your Account, as defined below. Please read and ensure you understand the terms and your rights and obligations with respect to your Account. Please advise Evergreen if you have any questions. Some of the following terms apply to all Deposit Accounts at Evergreen while others may only be applicable to a specific Account (e.g., Your Evergreen Checking Account Rates).
Section VII of this Agreement includes an Arbitration Agreement and forbids Class Actions unless you exercise your right to reject arbitration within thirty (30) days after account opening.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT:
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an Account. What this means for you: When you open an Account, we will ask for your name, address, date of birth, and other non-public information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.
If you have any questions or concerns, please contact Evergreen at 1-888-884-0557.
Table of Contents
D. Duty to Promptly Update Contact Information
E. Minimum Opening Deposit and Relationship Balance Requirements
F. Account Opening Requirements
H. Deposits, Withdrawals, and Transactions
8. Unlawful or Unauthorized Use
III. Checking and Savings Account Rates and Fees
A. Checking Account Rates and Fees
B. Savings Account Rates and Fees
IV. Debit Card Terms and Conditions (Checking Account Only)
B. How You Can Use Your Debit Card
2. Automated Teller Machine (ATM) Transactions
E. Lost, Stolen, or Damaged Debit Card
F. Other Important Information
V. Digital Wallet Terms and Conditions
VI. Electronic Funds Transfer Agreement
E. Electronic Fund Transfer Services
1. Types of Electronic Funds Transfers Available
2. Right to Stop Payment on Preauthorized Transfers and How To
4. Your Liability for Unauthorized Transfers
5. Our Liability for Failure to Complete Transactions
7. Your Rights to Dispute Errors
I. Definitions
In this Agreement, the terms “you” and “your” refer to you as the Evergreen Client to which the Account belongs. We also use the terms “Evergreen,” “us,” or “we” when referring to Evergreen Wealth Corporation.
In addition, we have also defined other important terms below:
- “Account” or “Deposit Account” means any consumer deposit account, either Checking Account, Savings Account, or both, opened by an individual with Evergreen.
- “Account Statement” means the monthly statement that Evergreen makes available to you that identifies all your Account activity during the Statement Period.
- “ACH” means 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. ACH
- “Available Balance” means the amount you can spend.
- “Business Day” means Monday through Friday, except for Federal holidays.
- “Checking Account” means your transactional based Demand Deposit Account (DDA) with Evergreen from which you can make debit card transactions, wire transfers, and ACH transactions.
- “Debit Card” means your Evergreen VisaⓇ Debit Card that is connected to your Checking Account and is subject to the Debit Card Terms and Conditions.
- “Deposit Agreement” means this Agreement in its entirety that applies to either the Evergreen Checking Account or the Evergreen Savings Account, or any other deposit account at Evergreen Wealth Corporation.
- “Internal Transfer” means a transfer between either your Checking Account to your Savings Account, or your Savings Account to your Checking Account. These are deemed ledger transfers and are not considered ACH transactions.
- “Savings Account” means your non-transactional savings account with Evergreen from which you can only withdraw and deposit between your Checking Account.
- “Statement Period” means the 1st of the month to the end of the month that will be reflective on your respective account statements.
II. Account Terms
A. Introduction
The following Account Terms apply to both the Checking Account and Savings Account unless otherwise specified. When applying for a Deposit Account, you are applying for both a Checking Account and a Savings Account.
In order to offer our banking products, Evergreen partners with a sponsor bank, Coastal Community Bank, Member FDIC. Evergreen Wealth Corporation is a financial technology company, not a bank. Banking services are provided by Coastal Community Bank, Member FDIC. Deposits are insured up to $250,000 per depositor in the event of bank failure only. The Evergreen Visa Debit Card is issued by Coastal Community Bank, Member FDIC, pursuant to licensing by Visa U.S.A. Inc.
B. Account Eligibility
The Account is offered only to US Citizens and US Permanent Residents who are at least 18 years of age (at least 19 in the state of Alabama) with a valid Social Security Number. In our sole discretion, we may choose not to open an account for any applicant. We may use information from third parties to verify your identity, including your name, address, date of birth, Social Security Number, email address, and phone number.
C. Personal Use Only
The Account can only be used for personal use and not for business purposes. If Evergreen determines that the Account is being used for business purposes, we reserve the right to close the Account immediately without notice. We also reserve the right to refuse to process any transactions that violate the terms of this Agreement. Evergreen does not offer joint accounts at this time.
D. Duty to Promptly Update Contact Information
We send important information and notices, including Monthly Statements, Disclosures, and Alerts, to your email address and phone number on file with us. You agree to promptly update and keep current your address, phone number, and email address in your Evergreen Profile. If we are made aware that any of your contact information is no longer accurate, we reserve the right to suspend your Account until the information has been updated and verified. If you fail to update your contact information within a reasonable time upon our request, then we reserve the right to terminate your Account without notice.
E. Minimum Opening Deposit and Relationship Balance Requirements
The Checking Account has a $25,000 minimum opening deposit requirement. This means that you must deposit at least $25,000into your Checking Account when opening the account. Additionally, you must maintain a $25,000 minimum relationship balance with Evergreen (whether in a Deposit Account or an Investment Account with Evergreen). If you fail to fund your Account with at least $25,000 or fail to maintain the $25,000 minimum relationship balance with Evergreen, then we reserve the right to close your Account(s) without notice. We may waive these requirements at our discretion.
F. Account Opening Requirements
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an Account. What this means for you: When you open an Account, we will ask for your name, address, date of birth, and other non-public information that will allow us to identify you. We may also ask to see a copy of your driver’s license or other identifying documents.
Even after your Account opening, we may ask for additional information, including identification. We may also request information about your account usage and transactions. Failure to provide the requested information in a timely manner may result in your account access being temporarily suspended until we have obtained the necessary information. Additionally, we reserve the right to close your Account for failure to provide sufficient information to verify your transactions or your identity, or if we are unable to verify the information.
H. Accessing Your Account
To access your Account, you can navigate to app.evergreenwealth.com to login on a mobile device (e.g., mobile phone or tablet) or using your desktop or laptop.
I. Deposits, Withdrawals, and Transactions
1. Deposits
You can deposit funds into your Checking Account by connecting an external account through the Evergreen application or website; use your Checking Account routing number and account number to send money from an external bank account; or initiate a wire transfer into your account. Evergreen does not accept cash or checks. We are not responsible for any lost or stolen cash or checks sent to us.
All deposits must be made in U.S Dollars. Deposits will be made available to you in accordance with our Electronics Funds Transfer Agreement. ACH deposits after 3:45 PM Eastern Time on a Business Day will be reflected as the following Business Day. Deposits made on a weekend will count toward the next Business Day. We reserve the right to decline or hold funds for any reason, including suspected fraud.
To make deposits into your Savings Account, the funds must be part of your Available Balance in your Checking Account. You can then use the Transfer feature to conduct an Internal Transfer between your Checking Account and Savings Account. You can not deposit directly into your Savings Account from external sources other than your Checking Account.
2. Withdrawals
You can withdraw funds up to your Available Balance, subject to applicable limits, from your Checking Account by ACH; by using your Debit Card; or initiating a wire transfer. ACH withdrawals are subject to the limits found in the Electronic Funds Transfer Agreement. Your Debit Card may be used to make purchases online, in-person, and at ATM’s. Please refer to your Debit Card Terms and Conditions for more information, including applicable limits. Wire transfers are subject to the terms in the Wire Transfer Agreement.
We reserve the right to decline any transaction, in full or in part, for any reason. We may decline transactions due to suspected fraudulent activity, failure to verify funds, or any other reason.
For Savings Accounts, you can only withdraw funds to your Checking Account by Internal Transfer and only by using the transfer feature. You may not transfer directly from your Savings Account to any other external account other than your Checking Account.
3. Available Balance
Your Checking Account’s Available Balance is our most current record of funds available for you to use with your Debit Card, ACH, Wire Transfer, or Internal Transfer. To calculate your Available Balance, we start with your ending daily balance from your Checking Account for the prior Business Day. Then, we subtract any holds that have been placed on your Account and add any deposits that have been posted to your account. Finally, we subtract pending transactions and any fees.
4. Processing Transactions
Generally, we process deposits first and then process withdrawals lowest to highest based on the time they occurred.
5. Overdrawn Balances
Generally, we do not permit overdrafts of your Account. If your Account becomes overdrawn, we reserve the right to decline any transactions until your Account is no longer overdrawn.
If your Account remains overdrawn after fifteen (15) days, we may take additional actions, including closing your Account without notice. You will still owe us any overdrawn balance.
6. Monthly Statements
Your Statement Period runs from the 1st of each month to the last day of each month. At the end of your Statement Period, we will send you an email notifying you that your Monthly Statement is available to view in your Document Center in your Evergreen Profile. You should expect your Monthly Statement for the previous month to be available no later than the 10th of the subsequent month.
Please review your Monthly Statement promptly and contact us immediately if you have any questions, concerns, or identify incorrect information.
7. Unauthorized Activity
If you notice any authorized transactions or you feel your Checking Account or your login credentials have been compromised, contact us immediately at 1-888-884-0557 or clientservice@evergreenwealth.com
8. Unlawful or Unauthorized Use
You will not use your Account (or Debit Card) for unlawful purposes or purposes we deem unauthorized, including but not limited to gambling, even if permitted by law.
If we suspect activity is fraudulent, unlawful, or high risk, we reserve the right to suspend your ability to conduct further transactions until you contact us to confirm the legitimacy of the transactions.
If we determine your activity to be unlawful, unauthorized, or high risk, we reserve the right to immediately terminate your Account without notice. If your Account is terminated, you will immediately be responsible for any outstanding balances and charges.
III. Checking and Savings Account Rates and Fees
A. Checking Account Rates and Fees
| Rate Information | The Annual Percentage Yield (APY) is a variable 4.00%. Your APY may change at our discretion at any time. |
| Monthly Account Fee | None |
| Minimum Opening Deposit | $25,000 (We way waive this at our discretion) |
| Minimum Relationship Balance Requirement | $25,000 across your Deposit Accounts or meet the minimum Investment Account balance requirement (We may waive this at our discretion) |
| Wire Fees | None |
| Balance Computation Method | We use the daily balance method to calculate the interest on your Checking Account. This method applies a daily periodic rate to the principal in the Account each day. |
| Compounding and Crediting | Interest for your Account will be compounded and computed daily. Interest will be credited to your Account on the last day of each month. |
| Accrual of interest on deposits other than cash | Interest begins to accrue on the Business Day you deposit noncash items initiated within the Evergreen app (e.g., ACH). |
B. Savings Account Rates and Fees
| Rate Information | The Annual Percentage Yield (APY) is a variable 5.00%. Your APY may change at our discretion at any time. |
| Monthly Account Fee | None |
| Minimum Opening Deposit | None |
| Minimum Relationship Balance Requirement | $25,000 across your Deposit Accounts or meet the minimum Investment Account balance requirement (We may waive this at our discretion) |
| Wire Fees | Wire transfers are not offered on this account. |
| Balance Computation Method | We use the daily balance method to calculate the interest on your Savings Account. This method applies a daily periodic rate to the principal in the Account each day. |
| Compounding and Crediting | Interest for your Account will be compounded and computed daily. Interest will be credited to your Account on the last day of each month. |
| Accrual of interest on deposits other than cash | Interest begins to accrue on the Business Day you deposit noncash items initiated within the Evergreen app (e.g., Internal Transfer). |
IV. Debit Card Terms and Conditions (Checking Account Only)
A. Introduction
This Evergreen VisaⓇ Debit Card (“Debit Card”) Cardholder Agreement (“Cardholder Agreement”) governs the usage of your Debit Card, including any replacement cards issued to you. You agree to these terms and conditions by activating your Debit Card or otherwise using your Debit Card.
Evergreen Wealth Corporation is a financial technology company, not a bank. Banking services provided by Coastal Community Bank, Member FDIC. Deposits are insured up to $250,000 per depositor. The Evergreen Visa Debit Card is issued by Coastal Community Bank, Member FDIC, pursuant to licensing by Visa U.S.A. Inc.
In this Cardholder Agreement, “you” and “your” mean the customer to whom we issued a Debit Card. The words “Evergreen Wealth,” “Evergreen,” “we,” or “our” mean Evergreen Wealth Corporation. The words “Evergreen Checking Account” or “Account” means your Evergreen Wealth Check Account that is connected to this Debit Card.
The usage of this Debit Card is subject to the terms found in the Deposit Agreement.
This Debit Card is only for personal use and shall not be used for business purposes. Only the customer to whom this Debit Card is issued may use this Debit Card.
This Cardholder Agreement is subject to the Arbitration Agreement found in Deposit Agreement
B. How You Can Use Your Debit Card
1. Point-of Sale Transactions
You may use your Debit Card to purchase goods or services at merchant locations that accept Visa debit cards. These purchases are called “Point-of-Sale Transactions,” and merchants that accept Visa debit cards are called “Participating Merchants.” You can make Point-of-Sale Transactions up to the available balance of your Checking Account.
Point-of-Sale Transactions are subject to limits described in the Limits section of this Cardholder Agreement.
When you make a Point-of-Sale Transaction, you authorize and agree that the amount of the transaction will be deducted (e.g., withdrawn) simultaneously from your Available Balance even though the transactions may not be paid until a later date.
2. Automated Teller Machine (ATM) Transactions
You may use your Debit Card to withdraw cash from your Checking Account. You may withdraw cash up to your Available Balance of your Checking Account, subject to the limits described in the Limits section of this Cardholder Agreement.
Although we do not charge fees to use an ATM, third-party fees may apply for the specific ATM used.
3. PIN Transactions
When you activate your Debit Card, you will be asked to set a PIN. This PIN is an additional security feature. During Point-of-Sale Transactions or ATM Transactions, you may be asked to enter your PIN. Your PIN is confidential and should not be shared with anyone.
4. Digital Wallet
You may add your Debit Card to a digital wallet. Please refer to the Digital Wallet Terms and Conditions.
5. Activation
When you receive your Debit Card in the mail, scan the QR code found in the letter and follow the instructions to activate your Debit Card and set your Personal Identification Number (PIN).
C. Debit Card Limits
Your Debit Card and associate transactions are subject to daily and monthly limits as described below:
| Type of Transaction | Daily Limit | Monthly Limit |
| Point-of-Sale (including Digital Wallet) | $3,000 Total; $1,000 Single Transaction | $10,000 |
| ATM | $510 | $1,000 |
| Cashback | $500 Total; $250 Single Transaction | $1,000 |
| Peer-to-Peer (E.g., Apple Cash, Venmo, Paypal) | $500 Total; $250 Single Transaction | $1,000 |
D. Statements
Your Debit Card transactions will appear on your Checking Account statement. Please review your statement promptly and contact us if you notice a discrepancy at 1-888-884-0557.
E. Lost, Stolen, or Damaged Debit Card
You agree to contact us immediately at 1-888-884-0557 if your Debit Card has been lost, stolen, or damaged. You agree to take every best effort to prevent your card from being lost or stolen.
F. Other Important Information
1. Termination or Suspension
We reserve the right to terminate or suspend the usage of your Debit Card at any time with or without cause, this includes the right not to replace a lost or stolen card. You are still responsible for any amounts owed to us.
2. Declined Transactions
We reserve the right to decline any transaction with or without cause, including due to suspected fraudulent or illegal activity, or any activity, suspected or actual, that violates this Cardholder Agreement or any other agreement between you, Evergreen, or any other agreements you have with us.
3. Expiration
Your Debit Card has an expiration date listed on it. You agree not to use your Debit Card after it has expired. Once your Debit Card has expired, you agree to destroy it immediately.
4. Change in Terms
We reserve the right to make changes to this Cardholder Agreement. Unless the change must be made immediately for security reasons, we will provide you with advance notice of changes that increases your expense or limits the use of your Debit Card at least 21 days before the change becomes effective by emailing you at the email address on file.
5. Contact Information
You agree to keep all contact information current by updating it immediately within your Evergreen Profile.
6. Electronic Account
You agree that this is an electronic account only. Therefore, you agree to all documents and communications being sent to you electronically.
7. Terminal Failures
We are not responsible for any electronic terminal failure for any reason.
8. Disputes
You agree to use best efforts to resolve and settle all disputes you made with the merchant. Please refer to your Electronic Funds Transfer Agreement for more information about how to dispute a transaction.
9. Overdrafts
You understand that your Debit Card is not a credit card nor does it have overdraft protection. Generally, we will decline transactions that exceed your Available Balance. If a transaction does make your account go negative, you agree to pay the excess amount immediately.
10. Applicable Law
This Cardholder Agreement is governed by and shall be construed in accordance with applicable federal law and the laws of the State of Washington.
11. Severability
If a provision of this Cardholder Agreement is held invalid or unenforceable in any respect, the validity or enforceability of the remaining provisions will not in any way be affected.
V. Digital Wallet Terms and Conditions
You may choose to add your Evergreen Visa® Debit Card (“Debit Card”) to a Digital Wallet provider such as Apple Pay®, Google Pay®, or Samsung Pay®.
The usage of your Debit Card with any Digital Wallet continues to be subject to the Deposit Agreement you received at account opening or in subsequent disclosures. We may request additional information from you to validate your request to add your Card to a Digital Wallet. You must follow the directions and agree to the terms of use for the specific Digital Wallet provider in order to add your Debit Card to their service.
Evergreen is not responsible for the use or function of the Digital Wallet. If you experience any issues while using the Digital Wallet, please contact the Digital Wallet provider directly.
If we suspect illegal activity or fraud, we may not allow your Card to be added to a Digital Wallet and may suspend your Card. You are responsible for keeping your Card information, account information, and User IDs and passwords secure and confidential.
Evergreen will not share your information consistent with the current Evergreen Privacy Notice. Each Digital Wallet provider may use your information for different purposes, and you should review their specific privacy notice.
Evergreen does not charge fees to use a Digital Wallet. The Digital Wallet provider or third parties, including your cellular phone/data provider, may charge you fees in connection with your usage of the Digital Wallet.
Evergreen reserves the right to change these terms and conditions.
VI. Electronic Funds Transfer Agreement
Your Checking Account (“Account”) number and bank routing number can be used for ACH debits, merchant transactions, and for the purpose of depositing direct deposits to your Checking Account.
A. Limits on ACH Transactions
Cut-off Time: The cut-off time for scheduling ACH transfers is 3:45 pm Eastern Time. Any transfer scheduled after the cut-off time will be treated as if it were scheduled on the next Business Day.
ACH Limits:
- Debit: The limitations on the amount of funds that can be transferred from your Checking Account per day are as follows: $100,000 per day and $250,000 per month.
- Credit: The limitations on the amount of funds that can be transferred into your account from the Evergreen App are as follows: $100,000 per day and $250,000 per month.
B. Periodic Statements
We will notify you monthly by email that your Checking Account statement is available in the Evergreen app. Please review your statement promptly for accuracy.
C. Fees
Evergreen does not charge fees for Electronic Funds Transfers (e.g., ACH).
D. Business Day
Evergreen defines a business day as Monday through Friday except Federal holidays.
E. Electronic Fund Transfer Services
1. Types of Electronic Funds Transfers Available
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- Merchant Transactions - You may authorize another party or merchant to electronically deposit or withdraw funds, either one-time or recurring, from your Account by providing them with your bank account and routing number.
- Direct Deposit- You may arrange for your employer or a government agency to electronically deposit funds into your Account. Generally, funds from Direct Deposits will be made available to you when we receive them.
- Between Accounts You Own- You may link accounts you own with your Account and transfer funds.
2. Right to Stop Payment on Preauthorized Transfers and How To
If you have set up recurring payments out of your Account, please contact the merchant with whom you arranged the recurring payment. If they are unable or unwilling to stop the transfer, call us at 1-888-884-0557. Your request to stop payment must be received at least three (3) business days before the payment is scheduled to be made.
3. Notice of Varying Amounts
If these regular payments you make may vary in amount, the person you are going to pay will tell you the transfer date and the amount of the transfer 10 days before each payment is scheduled to take place.
4. Your Liability for Unauthorized Transfers
Contact us at once if you believe your Account has been stolen or compromised in any way. Calling us is the best way to minimize your possible losses. If your Account has been compromised or your Debit Card has been lost or stolen, or someone has transferred or may transfer money from your Account without your permission, call 1-888-884-0557 or email clientservice@evergreenwealth.com.
Also, if you become aware or your statement shows transactions you did not make, notify us immediately following the procedures stated in the section labeled “Your Rights to Dispute Errors.” If you do not notify us within sixty (60) days after you become aware of the transaction(s) and/or the statement was made available to you, you may not get back any of the value you lost after the sixty (60) days if we can prove that we could have stopped someone from taking value if you had notified us in time. If a good reason (such as a long trip or a hospital stay) keeps you from telling us, we will extend the time period.
5. Our Liability for Failure to Complete Transactions
If we do not properly complete a transaction from your Account on time or in the correct amount 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 funds available in your Account to complete the transaction;
- If a merchant refuses to accept your Account number;
- If an electronic terminal where you are making a transaction does not operate properly, and you knew about the problem when you initiated the transaction;
- If access to your Account has been blocked after you reported your Account has been compromised, lost, or stolen;
- If there is a hold or your funds are subject to legal or administrative process or other encumbrance restricting their use;
- If we have reason to believe the requested transaction is unauthorized;
- If circumstances beyond our control (such as fire, flood, power failure, strike, labor dispute, critical service provider failure, computer breakdown, telephone line disruption, government or regulatory action, or a natural disaster) prevent the completion of the transaction, despite reasonable precautions that we have taken; or
- Any other exception stated in our Agreement with you.
6. Confidentiality
We may disclose information to third parties about your Account or the transactions you make:
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- Where it is necessary for completing transactions;
- In order to verify the existence and condition of your Account or Card for a third party, such as a merchant;
- In order to comply with government agency, court order, or other legal or administrative reporting requirements;
- If you consent by giving us your written permission;
- To our employees, auditors, affiliates, service providers, or attorneys as needed;
- As noted in the Evergreen Privacy Policy and Coastal Community Bank Privacy Notice; or
- As otherwise necessary to fulfill our obligations under this agreement.
7. Your Rights to Dispute Errors
In Case of Errors or Questions About Your Electronic Transfers, we prefer you call us immediately at 1-888-884-0557 or you may also write to us at clientservice@evergreenwealth.com or Evergreen Wealth Attn: Disputes, 5540 Centerview Dr. Ste. 204, Box 48153, Raleigh, North Carolina 27606 as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than 60 days after we sent the FIRST statement on which the problem or error appeared.
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- Tell us your name and account number (if any).
- Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information.
- Tell us the dollar amount of the suspected error.
- If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.
We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 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. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.
For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.
We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.
VII. Arbitration Agreement
1. Resolving a Dispute with Arbitration
Please read this provision of the agreement (the “Arbitration Agreement”) carefully. It provides that any dispute may be resolved by binding arbitration at either party’s request. Unless you reject the Arbitration Agreement within thirty (30) days after your account is opened, the Arbitration Agreement will have a substantial effect on your rights in the event of a dispute. Arbitration replaces the right to go to court, including the right to a jury and the right to participate in a class action or similar proceeding. In arbitration, a dispute is resolved by an arbitrator instead of a judge or jury. This provision does not apply if you are a “covered borrower” as defined in the military lending act, 10 U.S.C. § 987.
2. Agreement to Arbitrate
Maintaining good relationships with our customers is very important to us. We ask that you contact us immediately if you have a problem with your Account or a service we provide. Often a telephone call to us resolves the matter quickly and amicably. However, if you and we are unable to resolve our differences informally, you agree by opening or maintaining an Account with us, that if any dispute between you and us arises regardless of when it occurs, it will be settled using the following procedures: you and we agree and understand that (1) you and we are giving up the right to trial by jury and (2) this section precludes you and us from participating in or being represented in any class or representative action or joining or consolidating the claims of other persons. In addition, your agreement to arbitrate and waive trial by jury shall be applicable to parties acting on our behalf, including agents or independent contractors who collect your account on our behalf or purchase your account, and to parties acting on your behalf, such as your authorized users, heirs, or representatives. This Arbitration Agreement is governed by the Federal Arbitration Act (FAA), 9 U.S.C. §§ 1 et seq., and not by any state arbitration law. Except as set forth below, the parties agree to arbitrate any dispute or controversy concerning your Account or related products or services. Either party may request that the matter be submitted to arbitration.
3. Commencing an Arbitration
The party electing arbitration must notify the other of such election. This notice may be given before or after a lawsuit has been filed concerning the Claim or with respect to other Claims brought later in the lawsuit, and it may be given by papers filed in the lawsuit such as a motion to compel arbitration. If you elect arbitration, you must notify us in writing. Your notice must be sent to Coastal Community Bank, Finance Department, 5415 Evergreen Way, Everett, WA 98203 AND an email notification to Evergreen at clientservice@evergreenwealth.com. If we elect arbitration, we will notify you in writing at your last known address on file.
4. Claim
A “Claim” is any unresolved claim, dispute, or controversy between you and us, whether past, present, or future, arising out of or related to this Agreement, your Account, products, or services governed by this Agreement or the relationships resulting from this Agreement or your Account. “Claim” has the broadest possible meaning, and includes initial claims, counterclaims, cross claims, and third-party claims. It includes disputes based upon contract, tort, consumer rights, fraud, and other intentional torts, constitution, statute, regulation, ordinance, common law, and equity (including any claim for injunctive or declaratory relief). Solely for purposes of this Arbitration Agreement, the terms “we,” “us”, and “our” also include Evergreen and any person or entity named as a co-defendant with us in a Claim asserted by you. Notwithstanding the foregoing, individual actions brought in small claims court (or your state’s equivalent court) are not eligible for arbitration; however, if the action is transferred, removed, or appealed to a different court, it shall be eligible for arbitration at either party’s request.
5. Binding Arbitration
Binding arbitration is a means of having an independent third party (the arbitrator) resolve a dispute without using the court system, judges, or juries. Either you or we can request binding arbitration. Each arbitration, including the selection of the arbitrator, shall be administered by the American Arbitration Association (AAA), according to the Consumer Arbitration Rules of the AAA. A single arbitrator shall be appointed. If you have a question about the AAA, you can contact them as follows: American Arbitration Association, 1633 Broadway 10th Floor, New York, NY 10019, 1-800-778-7879, http://www.adr.org . If the AAA is unable to serve as administrator and you and we cannot agree on a replacement, a court with jurisdiction will select the administrator or arbitrator, provided that no company may serve as administrator, without the consent of all parties, if it adopts or has in place any formal or informal policy that is inconsistent with and purports to override the terms of the Class Action Waiver in this Arbitration Agreement.
6. Powers and Qualifications of Arbitrators and Arbitration Procedures
Any arbitration hearing that you attend will take place in a location that is reasonably convenient for you. If you cannot obtain a waiver of the AAA’s or arbitrator’s filing, administrative, hearing, and/or other fees, we will consider in good faith any request by you for us to bear such fees. Each party will bear the expense of its own attorneys, experts, and witnesses, regardless of which party prevails, unless applicable law or this Agreement gives a right to recover any of those fees from the other party. The arbitrator shall follow applicable substantive law to the extent consistent with the FAA, applicable statutes of limitation and privilege rules that would apply in a court proceeding, and shall be authorized to award all remedies available in an individual lawsuit under applicable substantive law, including, without limitation, compensatory, statutory, and punitive damages (which shall be governed by the constitutional standards applicable in judicial proceedings), declaratory, injunctive, and other equitable relief, and attorneys’ fees and costs. Upon the timely request of either party, the arbitrator shall write a brief explanation of the basis of his or her award. The arbitrator’s award will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter judgment upon the arbitrator’s award.
7. Class Action Waiver
You agree not to participate in a class, representative or private attorney general action against us in court or arbitration. Also, you may not bring claims against us on behalf of any account holder.
The arbitrator shall have no authority to conduct any class, private attorney general or other representative proceeding, and shall award declaratory or injunctive relief only in favor of the party seeking relief and only to the extent necessary to provide relief warranted by that party’s individual claim. If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, and the court’s determination shall be subject to appeal.
8. Rights Preserved
This Arbitration Agreement and the exercise of any of the rights you and we have under this Agreement, does not stop you or us from exercising any lawful rights either of us has to use other available remedies; to comply with legal process; to obtain provisional remedies such as injunctive relief, attachment or garnishment by a court of appropriate jurisdiction; or to bring an individual action in court that is limited to preventing the other party from using or obtaining any provisional or self-help remedies and that does not involve a request for damages or monetary relief.
9. Enforcement
You or we may bring an action, including a summary or expedited motion, to compel arbitration of Claims subject to arbitration, or to stay the litigation of any Claims pending arbitration, in any court having jurisdiction. Such action may be brought at any time, even if such claims are part of a lawsuit, unless a trial has begun or a final judgment has been entered. Any dispute concerning the validity or enforceability of this Arbitration Agreement must be decided by a court; any dispute concerning the validity or enforceability of the Agreement as a whole is for the arbitrator. Failure or forbearance to enforce this Arbitration Agreement at any particular time or in connection with any particular Claims will not constitute a waiver of any rights to require arbitration at a later time or in connection with any other Claims. Any additional or different agreement between you and us regarding arbitration must be in writing. If either you or we fail to submit to binding arbitration following a lawful demand, the party who fails to submit bears all costs and expenses incurred by the party compelling arbitration.
10. Survival and Severability of Terms
This Arbitration Agreement shall survive: (i) termination or changes in the Agreement, the Account, or the relationship between you and us concerning the Account; (ii) the bankruptcy of any party; and (iii) any transfer, sale or assignment of your Account, or any amounts owed on your Account, to any other person or entity. If any portion of this Arbitration Agreement (except for the Class Action Waiver set forth above) is deemed invalid or unenforceable, the remaining provisions of the Arbitration Agreement shall remain in force. No portion of this Arbitration Agreement may be amended or waived absent a written agreement between you and us.
11. RIGHT TO REJECT
You may reject or opt out of this Arbitration Agreement by emailing a signed or e-signed rejection notice to Evergreen at clientservice@evergreenwealth.com within thirty (30) calendar days after your Account is opened. Any rejection notice must include your name, address, email address, and telephone number. This is the only manner by which you can reject this Arbitration Agreement. If you reject this Arbitration Agreement, only a court may be used to resolve any Claim. If you reject this Arbitration Agreement, such rejection will not affect any other provision of the Agreement.
VII. Additional Information
1. Default
If you fail to pay us any required amount, we may consider your Checking Account in default. If we deem your Account to be in default, we may terminate your Account and require any amount owed to us to be paid immediately.
2. Right to Set Off
If any of your Accounts with us become and remain negative for fifteen (15) days, you agree that we can use the funds in any of your Accounts with us or our affiliates to repay the amount owed on the negative balance in the Account. This means, we have the right to set-off any liability, direct or contingent, past, present, or future that you owe against any Account you have with us. Further, you grant us a lien on and security interest in the funds on deposit in each of your Account(s) as security for all of your liabilities and obligation to us, now or in the future. We will notify you if we have exercised our right to set off.
3. Termination, Suspension of Use, or Cancellation
We may terminate, suspend your usage of any feature, or close your Account, or terminate any transactions at any time at our sole discretion without giving you notice, subject to applicable law. You will be required to pay us all outstanding balances immediately on your Account despite any termination, suspension, closure, or cancellation.
4. Communications
You agree that we can contact you by using the information provided to us in your application or in subsequent communications. We may contact you by using, but not limited to, automatic telephone dialing systems, text message, email, and other electronic means for any purposes, including marketing. We may leave you voicemails or other messages for business, marketing, or collections purposes. Our contact with you will be to provide you information pertaining to your Account in good faith. You will keep your contact information updated by updating your online account.
You agree that this consent is valid regardless of whether the number we use to contact you is assigned to any service for which you may be charged for the call, text message(s), or other communications. We may monitor or record any communications you have with us.
5. Assignment
We may assign or transfer your Account, including this Agreement or our rights and obligations under your Account or this Agreement, to our affiliates, successors, or to some other company at any time without prior notice or consent. Subject to applicable law, the person or entity to whom we make any such sale, assignment, or transfer is entitled to all our rights under this Agreement, to the extent sold, assigned, or transferred.
6. Change of Rates, Fees, and Terms
We may change the rates, fees, and terms of this Agreement at any time, in accordance with applicable law. We will notify you of changes if we are required to do so by law, and you may be given the opportunity to reject those changes to the extent required by law or otherwise at our discretion. If you choose not to accept those changes, you may terminate this Agreement by notifying us in writing. However, your Account will be closed, and you will remain responsible for all amounts owed to us immediately.
7. Voluntary Closure
You may voluntarily close your Account at any time by calling us at 1-888-884-0557 or using the chat function in your Evergreen Profile. You will still be responsible for paying any outstanding balance or charges. If you ask us to close your Account, but you continue to use your Account after the date of cancellation, we will consider such use as your request for reinstatement of your Account. We may then reinstate your Account and bill you accordingly.
8. Severability
If any part of this Agreement conflicts with applicable law, that law will control, and this Agreement will be considered changed to the extent necessary to comply with that law. If any part of this Agreement is determined by a court of valid jurisdiction to be invalid, the remainder of this Agreement will remain in effect.
9. Tax Responsibility
You are responsible for paying any local, state, and federal taxes associated with your account. For interest, we will send you a 1099-INT document before January 31 for the preceding year, if applicable, in the mail and in your Document Center.
10. Jury Trial Waiver
You and us waive any right to trial by jury.
11. Privacy of Information
Please refer to our Privacy Notice for information about Evergreen’s privacy practices.
12. Governing Law
Unless otherwise stated in this Deposit Agreement, this Agreement and your Account are governed by Federal Law and, to the extent state law applies, the law of the State of Washington will apply.