ACORNS CHECKING ACCOUNT SEND CHECK SERVICE TERMS AND CONDITIONS
If you want to use the paper check delivery feature (“Send Check”) to send a check from your Acorns Checking Account, then click the button to indicate “I Agree” with these terms and conditions for Send Check. Terms used but not defined herein are given the meaning ascribed to them in the Program Agreement.
1. Send Check Description
Send Check is designed to allow you to have a paper check drawn on your Acorns Checking Account and delivered to a recipient via U.S. Postal Service. Send Check is not a traditional paper checkbook, and you will not be able to hand write or hand deliver a check through Send Check. There are no fees associated with Send Check, however expedited delivery may be available for an additional cost. For security reasons, these services are available only if you have had an Acorns Checking Account open and have had an Acorns Checking Debit Card active for thirty (30) days or more. Acorns Pay and Lincoln Savings Bank, member FDIC, may, at their sole discretion, discontinue the Send Check services at any time.
1.1 Availability of Funds for Checks
Unlike a traditional handwritten paper check, the funds necessary to cover the full amount of the check will be withdrawn from your Acorns Checking Account at the time you complete the Send Check request, following a five (5) minute cancellation window.
1.2 Negative Balance Accounts
Sent checks will be automatically voided if your Acorns Checking Account becomes negative for any reason prior to the check being cashed and/or deposited. The funds for the requested check will be returned to your Acorns Checking Account to cover the negative balance without prior notification. If more than one check has been sent from your Acorns Checking Account at the time the account becomes negative, the most recently sent check will be automatically voided to cover the negative balance. More than one check may be voided if necessary to cover a negative Acorns Checking Account balance.
You are responsible for any loss or penalty that you may incur due to the lack of sufficient funds (NSF) when attempting to make a payment via Send Check. A block is automatically placed on your Acorns Checking Account if it becomes negative, and no additional checks will be allowed to be sent until your Acorns Checking Account is properly funded. If attempts to rectify the negative balance are unsuccessful, you acknowledge that your Acorns Checking Account may be sent for collections.
1.3 Check Processing and Delivery
Checks can be scheduled for sending at any time; however, checks submitted for sending after 10:00 am PST will be processed on the following Production Day. “Production Days” are Monday through Friday and exclude weekends and bank holidays. Because checks are delivered via U.S. Postal Service, it may take 10 -14 Business Days for a check to reach the payee. “Business Days” are Monday through Friday except for any days Lincoln Savings Bank is closed. Acorns Pay and Lincoln Savings Bank are not liable for any service fees or late charges levied against you by any payee.
2. Check Sending
2.1 Payee Address
You are responsible for correctly entering the delivery address of the check payee. Neither Acorns Pay nor Lincoln Savings Bank will be liable for any penalties or fees levied against you due to incorrect delivery address. Acorns Pay does not undertake any process to verify the address you enter is the correct address for the payee, or a valid delivery address. Checks may only be sent to United States addresses.
2.2 Payee Identity
At the time you request a check through Send Check, Acorns Pay and Lincoln Savings Bank, through their third-party service provider, will compare the payee’s name against certain terrorist and terrorist organization lists. If Acorns Pay or Lincoln Savings Bank reasonably believes the payee is on such a list, the check request will be immediately voided and each of Acorns Pay and Lincoln Savings Bank reserve the right to take any additional measures required by internal policies or applicable law.
2.3 Check Limits
Check requests made through the Send Check feature will be subject to daily ACH transfer limits, which can be found in the Lincoln Savings Bank Truth in Savings Disclosure. Acorns Pay and Lincoln Savings Bank each reserve the right to impose limits on the amount(s) and/or number of checks that you request using Send Check and to modify such limits from time to time.
2.4 Expired Checks
Checks will expire 180 days after the date of issuance. Upon the expiration date, the check will be voided and the funds will be returned to your account. No interest will be owed to you on amounts held for an issued check and then returned upon the voiding or expiration of a check.
3. Warranties and Indemnification
You warrant to Acorns Pay and Lincoln Savings Bank that:
- You will only attempt to send checks for good funds.
- All information you provide to us is accurate and true.
- You understand that you are in full control of your Acorns Checking Account.
- Your use of Send Check signifies that you have read the terms and conditions of the Electronic Funds Transfer – Internet Banking Disclosure and Agreement; which have been provided to you electronically by Lincoln Savings Bank.
- You will comply with these Send Check terms and all applicable rules, laws, and regulations.
- You shall use Send Check only for your own personal use in accordance with these Send Check terms.
- You shall not make Send Check available or transfer your rights to use Send Check for the benefit of any third party.
You shall indemnify, defend, and hold Acorns Pay, Lincoln Savings Bank, and their respective agents harmless from and against all liability, damage and loss arising from any claims, suits, expenses (including reasonable attorney’s fees) or demands, brought by third parties with respect to any transaction processed through Send Check as described above.
In addition to the other indemnification provisions set forth in these terms and conditions, you agree to indemnify, defend and hold Acorns Pay and Lincoln Savings Bank harmless from and against any and all claims, demands, damages, liabilities, expenses (including reasonable attorneys’ fees) or other loss that arises from or relates to your use of Send Check, any act or omission by us that is in accordance with these terms and conditions or in accordance with instructions from you, or your breach of the representations, warranties or covenants set forth in these terms and conditions.
4. Email Address
You agree to notify Acorns Pay immediately if you change your email address, as this is the email address where Acorns Pay and/or Lincoln Savings Bank will send notifications of sent checks.