Terms and Conditions for ACH Transfers

Introduction
Last Modified: August 11, 2021

These Terms and Conditions ("ACH Transfer Terms") apply to your use of a designated bank account for any transfers you may make to or from Coinchange Financials Inc. or Coinchange Financials USA, Inc. ("Coinchange"), including for the purchase, using U.S. dollars, of cryptocurrencies such as USDC, USDT, Ethereum, Bitcoin and any other cryptocurrency made available by Coinchange from time to time. These ACH Transfer Terms also apply to any transfers you may request from Coinchange's designated bank account, including those related to the return of U.S. Dollars that result from the sale of your assets. Please read and keep these ACH Transfer Terms. If you need a physical copy of these ACH Transfer Terms or if you have any questions, you can contact Coinchange via email at support@coinchange.io or visit coinchange.io.

These ACH Transfer Terms incorporate by reference the latest Coinchange terms and conditions found here: https://coinchange.io/terms-of-use.

If you choose to use a bank account as your transfer method, you accept and agree to these ACH Transfer Terms.

1. Bank Account Transfers

By choosing to use a bank account as your transfer method, you will be able to fund your Coinchange USD balance using any valid automated clearing house ("ACH")-enabled bank account at a United States-based financial institution. You will also be able to request that Coinchange return U.S. Dollar proceeds from the sale of your assets and initiate an ACH transfer of such proceeds to your eligible bank account. Whenever you choose to pay or transfer by ACH, you are authorizing Coinchange (or its agent) to debit your bank account for the total amount of the transfer being made or to credit your bank account with the U.S. dollar proceeds, as applicable. To complete your payment transaction, Coinchange (or its agent) will create an electronic funds transfer or bank draft, which will be presented to your bank or financial institution for transfer from your bank account. Coinchange, in its sole discretion, may require that any or all USD from an ACH transfer be held in your Crypto Accounts for a period of up to 60 days. If you choose to provide your bank account numbers to Coinchange (or its agent), you authorize Coinchange (or its agent) to use this information to facilitate debiting or crediting your bank account upon your request.

Your transaction must be payable in U.S. dollars. Coinchange, in its sole discretion, may refuse this transfer option service to anyone or any user without notice for any reason at any time. Transactions that Coinchange processes using your bank account will be identified as "Coinchange Financials Inc." or "Coinchange Financials USA Inc." (or similar identifier) on the statement issued by your bank or other financial institution holding your account. All questions relating to any transactions made using your bank account by Coinchange should be initially directed to Coinchange, but may also require involvement of your bank.


2. Electronic Signature and ACH Authorization

By choosing your bank account as your transfer method, you agree that: (a) you have read, understand and agree to these ACH Transfer Terms, and that this agreement constitutes a "writing signed by you" under any applicable law or regulation, (b) you consent to the electronic delivery of the disclosures contained in these ACH Transfer Terms, (c) you authorize Coinchange (or its agent) to make any inquiries Coinchange consider necessary to validate any dispute involving your transfer, which may include ordering a credit report and performing other credit checks or verifying the information you provide against third party databases, (d) you authorize Coinchange (or its agent) to initiate one or more ACH debit entries (withdrawals) for specified amount(s) from your bank account, and you authorize the financial institution that holds your bank account to deduct such transferred amounts, (e) you authorize Coinchange (or its agent) to initiate one or more ACH credit entries (direct deposits) for specified amount(s) of the proceeds of sales of assets to your bank account, and you authorize the financial institution that holds your bank account to credit such transferred amounts, (f) once a sale is complete and an ACH transfer is initiated, the transaction cannot be cancelled; and (g) funds sent to you via ACH typically take two to three business days to reach your financial institution, and Coinchange is not responsible for any delays in the availability of funds, which may vary based on your financial institution's ACH processing procedures and settlement.

3. Transaction Errors

If you believe that any transfer transaction initiated by Coinchange (or its agent) with respect to your bank account is erroneous, or if you need more information about any such transaction, you should contact Coinchange as soon as possible at support@coinchange.io. Notify Coinchange at once if you believe the password associated with your account has been lost or stolen, or if someone has attempted (or may attempt) to make a transfer from your bank account without your permission. We reserve the right to cancel the ability to pay or transfer by bank account for any reason at any time.


4. Your Liability for Unauthorized Transactions

Federal law limits your liability for any fraudulent, erroneous unauthorized transaction from your bank account based on how quickly you report it to your financial institution. As general rule, you should report any fraudulent, erroneous or unauthorized transactions to your bank within 60 days after the questionable transaction FIRST appeared on your bank account statement. You should contact your bank for more information about the policies and procedures that apply to your account and any unauthorized transactions, including any limits on your liability.


5. Fees

This authorization to initiate ACH debit transactions will remain in full force and effect until Coinchange has received written notice from you by email at support@coinchange.io to cancel it in such time as to afford Coinchange and your bank a reasonable opportunity to act on such cancellation. Because these are electronic transactions, these funds may be withdrawn from your designated bank account immediately. In the case of an ACH debit transaction that is rejected for insufficient funds, you understand that Coinchange may at its discretion attempt to process the debit in the amount of the applicable requested transfer again within 30 days and Coinchange may separately impose a fee of $25 for each transaction returned for insufficient funds, as permitted by applicable law. You certify that you are an authorized user of your bank account and you will not dispute these scheduled transactions with such bank so long as the transactions correspond to these ACH Transfer Terms and any other applicable agreement related to your accounts with Coinchange and its affiliates or such transfer.

You must notify Coinchange in writing if you dispute any portion of any fees paid or payable by you under these ACH Transfer Terms or any related agreement. You must provide that written notice to Coinchange within 60 days of the applicable charge, and Coinchange will work with you to resolve the applicable dispute promptly. If you do not provide Coinchange with this written notice of your fee dispute within this 60-day period, you will not be entitled to dispute any fees paid or payable by you.

All amounts and fees stated or referred to in these ACH Transfer Terms are exclusive of taxes, duties, levies, tariffs, and other governmental charges (collectively, "Taxes"). You shall be responsible for payment of all Taxes and any related interest and/or penalties resulting from any transfers made hereunder, other than any taxes based on Coinchange's net income.

6. Electronic Delivery of Future Disclosures

You agree to accept all disclosures and other communications between you and Coinchange on this website or at the primary e-mail address associated with your Coinchange Account. You should print and retain a copy of all such disclosures and communications.

7. Coinchange's Liability

If Coinchange fails to debit or credit your bank account in accordance with these ACH Transfer Terms, in the correct amount, Coinchange may be liable for certain losses directly caused by Coinchange's failure as the law may impose in such cases. However, there are some exceptions. For instance, Coinchange will not be liable where: (1) you do not have enough money in your bank account; (2) your bank account is closed or deposits or withdrawals restricted; (3) any terminal or system was not working properly and you were advised of that before you initiated the transfer; (4) the failure was related to circumstances beyond Coinchange's control (such as flood, fire, power outages, mechanical or system failures); (5) your financial institution refuses to honor an ACH debit or credit; (6) your instructions are lost or delayed in transmission to Coinchange; (7) a reasonable security concern, such as unauthorized use, causes Coinchange not to honor your instructions; (8) this transfer option has been discontinued or suspended; (9) Coinchange advises you that your request will not be processed; and (10) other exceptions are allowed by law. If Coinchange's error was unintentional and resulted from a bona fide error, Coinchange's liability is limited to actual damages.

8. Exchange Rates

Coinchange may determine an exchange rate and assign it to your transaction without notice to you. Exchange rates fluctuate, at times significantly, and you acknowledge and accept all risks that may result from such fluctuations. If Coinchange assigns an exchange rate to your transaction, that exchange rate will be determined by Coinchange in Coinchange's sole discretion based upon such factors as Coinchange determines relevant, including without limitation, market conditions, exchange rates charged by other parties, Coinchange's desired rate of return, market risk, credit risk and other market, economic and business factors, and is subject to change at any time without notice. You acknowledge that exchange rates for retail and commercial transactions, and for transactions effected after regular business hours and on weekends, are different from the exchange rates for large transactions effected during the business day, as may be reported by major cryptocurrency trading platforms or elsewhere. Exchange rates offered by other platforms or shown at other sources by Coinchange or other platforms (including online sources) may be different from Coinchange's exchange rates. The exchange rate you are offered may be different from, and likely inferior to, the rate paid by Coinchange to acquire the underlying cryptocurrency. Coinchange reserves the right to refuse to process any request for an exchange transaction. Coinchange provides all-in pricing for exchange rates. The price provided may include profit, fees, costs, charges or other mark ups as determined by Coinchange in Coinchange's sole discretion. The level of the fee or markup may differ for each customer and may differ for the same customer depending on the method or venue used for transaction execution.

Coinchange does not accept any liability for Coinchange's exchange rates. Any and all liability for Coinchange's exchange rates is disclaimed, including without limitation direct, indirect or consequential loss, and any liability if Coinchange's exchange rates are different from rates offered or reported by third parties, or offered by Coinchange at a different time, at a different location, for a different transaction amount, or involving a different transfer or payment media (including but not limited to bank-notes, checks, wire transfers, etc.).


9. Agreement Changes

Coinchange may in Coinchange's discretion change these ACH Transfer Terms or the Coinchange Terms referred to in these ACH Transfer Terms at any time without notice to you. If any change is found to be invalid, void, or for any reason unenforceable, that change is severable and does not affect the validity and enforceability of any other changes or the remainder of these ACH Transfer Terms. Coinchange reserves the right to subcontract any of Coinchange's rights or obligations under these ACH Transfer Terms.


YOUR CONTINUED USE OF YOUR BANK ACCOUNT AS A METHOD OF MAKING ANY TRANSFER TO OR RECEIVING ANY TRANSFER FROM COINCHANGE AFTER WE CHANGE THESE ACH TRANSFER TERMS OR ANY OF THE OTHER TERMS INCORPORATED IN THESE ACH TRANSFER TERMS CONSTITUTES YOUR ACCEPTANCE OF THESE CHANGES