Terms of Service

Last Updated: February 26, 2020.

This service agreement is a contract between you and Banqdrop LLC, hereafter referred to as “Banqdrop,” governing your use of your Banqdrop Account and the Banqdrop Application. You must be in the United States and have a U.S. bank account to use the Banqdrop Application.

You agree to comply with all of the terms and conditions in this agreement. These terms 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:

We may revise this agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. If our changes reduce your rights or increase your responsibilities we will provide notice to you of at least 21 days. We reserve the right to amend this agreement at any time without notice, subject to applicable law. By continuing to use our services after any changes to this agreement become effective, you agree to abide and be bound by those changes. If you do not agree with any changes to this agreement, you may close your account.

Banqdrop is only a software application provider

We act as a software application provider only. We do not:

  • Hold funds, transmit funds, or facilitate payments.
  • Act as a Money Service Business or Money Transmitter.
  • Act as an escrow agent with respect to any money represented on the Banqdrop Application;
  • Act as your agent or trustee;
  • Enter into a partnership, joint venture, agency or employment relationship with you;
  • Guarantee the identity of any user;

Opening a Banqdrop Account

In order to use the payment functionality of our application, you must open a "Dwolla Platform" account provided by Dwolla, Inc. and you must accept the Dwolla Terms of Service and Privacy Policy. Any funds held in the Dwolla account are held by Dwolla's financial institution partners as set out in the Dwolla Terms of Service. You authorize us 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. You understand that you will access and manage your Dwolla account through our application, and Dwolla account notifications will be sent by us, not Dwolla. We will provide customer support for your Dwolla account activity, and can be reached at support@banqdrop.com.

A Dwolla account can only be accessed and managed through Banqdrop’s Application with a Banqdrop Account.

You may only have one Banqdrop Account. To create an account, you must be a resident of the United States or one of its territories, be at least 18 years old, and use a cellular/wireless telephone number that you own.

Banqdrop does not hold any funds. The Banqdrop Application is a software user interface which represents and communicates with financial institutions through application programming interfaces provided by technology partners of financial institutions. Opening a Banqdrop Account alone does not enable a user to hold or transfer funds.

You are responsible for keeping confidential any credentials you use to access your Banqdrop Account. You must keep your phone number, email address and other contact information current in your Banqdrop Account profile.

Closing a Banqdrop Account

You may close your account and terminate your relationship with us without cost, but you will remain liable for all obligations related to your Banqdrop Account, even after the Banqdrop Account is closed. Any incomplete Transfers must be completed or canceled and all Buckets you are the Admin of must have a zeroed Balance before closing your Banqdrop Account.

In certain cases, you may not close your Banqdrop Account, including:

  • To evade an investigation.
  • If you have a pending Transfer.
  • If you owe amounts to us or other users.
  • If you are the Admin of a Bucket with a non zero Balance.

To close your Banqdrop Account contact support@banqdrop.com

Funds Displayed on Banqdrop

Linked Bank Buckets

You can link or unlink a U.S. bank account to your Banqdrop Account as a Linked Bank Bucket.

Funds are held in your bank account, which is entirely external to the Banqdrop Application, and not held in your Dwolla account. Linked Bank Buckets cannot be shared with other users by adding Members, you alone have access to the Linked Bank Bucket.

All funds represented as a Balance in a Linked Bank Bucket are merely displaying the last known available balance in the bank account which was linked during the creation of the Bucket. Note, this number may not reflect the most up to date balance due to the infrequency of the Banqdrop Application collecting information, which is managed by your bank.

Personal Buckets

All funds represented as a Balance in a Personal Bucket are held solely by the Admin of the Personal Bucket. Personal Buckets cannot be shared by other users by adding Members (like Linked Bank Buckets).

Shareable Buckets

Funds in a Shareable Bucket are held by the Bucket Admin. All funds represented as a Balance in a Sharable Bucket is considered to be available in the Dwolla account corresponding to the Bucket Admin’s Account.

Unlike Linked Bank Buckets and Personal Buckets, Shareable Buckets can be accessed by other users by adding Members to the Bucket. A Shareable Bucket can have up to 50 Members including the Admin. All Members can view the Bucket Balance and Ledger. All Members can initiate a Transfer from the Shareable, but all Transfers from the Bucket not initiated by the Admin must be approved by the Admin.

Transfers

All Transfers from a Personal Bucket, Shareable Bucket, or Linked Bank Bucket must be authorized by the Bucket Admin. Either by being initiated by the Admin or by Admin approval.

Transfers to a Bucket (also known as the Destination Bucket in the context of a Transfer) do not require any approval by the Admin of the Destination Bucket.

If you are the Bucket Admin and approve a Transfer it will be attempted to be completed by Banqdrop through Dwolla’s payment platform. If it is completed it will be recorded in the Bucket Ledger for all participating Bucket Members to see, in addition to the users who participated in the Bucket Transfer. Review our Privacy Policy for more details about user visibility of Transfers.

Linked Bank Buckets

If we have verified the required identifying information that you provide to us, you may then Transfer money to a Personal Bucket or Shareable Bucket from a linked bank account by means of the Link Bank Bucket user interface.

You can manage linked bank accounts through corresponding Linked Bank Bucket user interface. To transfer money to a linked bank account, you can initiate a Transfer from your Personal Bucket or Shareable Bucket (if funds are available and approved by the Admin).

Please note that any Transfer to or from a Linked Bank Bucket, because it acts as a user interface for a linked bank account, is conducted as an ACH transfer. Transfers initiated and approved will remain pending and not be recorded into the Banqdrop Bucket Ledger until the underlying ACH transfer is complete. Expect normal ACH transfer times of 1-5 days after the time of the Banqdrop Transfer approval.

We may set limits on your bank transfers, so please review our Acceptable Use Policy. Fees and limits may change in our sole discretion.

Bank account transfers

When you act as the Bucket Admin initiating, or approving, a Transfer to, or from a Linked Bank Bucket, you are allowing Dwolla to initiate a transfer from your bank account associated with the Linked Bank Bucket to or from your Dwolla account for the amount you authorize.

YOU SHOULD CONFIRM THAT YOUR BANK ACCOUNT CONTAINS FUNDS SUFFICIENT TO COVER THE PAYMENT BEFORE MAKING THE PAYMENT, IF FUNDED BY YOUR BANK ACCOUNT. THIS WILL HELP YOU AVOID OVERDRAFT OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

Personal Buckets

You can initiate a Transfer to, or from, another user’s Personal Bucket by searching and selecting their Banqdrop Username, for the purpose of pooling funds.

Shareable Buckets

With Shareable Buckets you can organize money with other users by initiating Transfers from one Bucket to another Bucket.

BANQDROP SHOULD ONLY BE USED WITH PEOPLE YOU KNOW AND TRUST.

DO NOT USE BANQDROP WITH PEOPLE YOU DON’T KNOW.

Transfer reviews

In connection with our review process of Transfers, to ensure adherence to our Acceptable Use Policy, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your Banqdrop Account and access to your Dwolla account until verification is completed.

Reviews may result in:

  • delayed, blocked or cancelled transfers;
  • account limitation, suspension or termination;

Among other reasons, we may take the above actions if you knowingly or unknowingly were a participant in a Transfer that was made from a compromised bank account, or compromised Banqdrop Account.

Fees and limits

We may, at our discretion, impose limits on the amount and/or the number of Transfers you can make. You can view any Transfer limits in our Acceptable Use Policy

Fees and limits may change from time to time in our sole discretion.

Invalidated Transfers

Incomplete Transfers may be cancelled or rejected by us if, among other reasons, the Transfer was made in error, the Transfer was unauthorized or unfunded, or if the Transfer was for activities that violated this user agreement or any other agreement with us.

As the Source Bucket Admin, or Destination Bucket Admin, of a Transfer that is later invalidated for any reason, you may be liable to us for the full amount of the Transfer and we may recover the amount of the Transfer from you. We may recover the amount of the Transfer from either the Source Bucket Admin or the Destination Bucket Admin of an invalidated Transfer in our discretion (subject to applicable law). For example, if you make a Transfer from a Linked Bank Bucket, which then triggers an ACH transfer funded by the corresponding bank account, and the bank informs us it cannot complete the funds transfer due to a lack of funds or a dispute, we may hold you liable for the transfer, or if you were the Destination Bucket Admin of the corresponding Transfer, we may Transfer the amount back from the Destination to cover the liability.

When recovering the amount of an invalidated Transfer, we may apply any funds Transferred by you on Banqdrop, request that you add funds to the Bucket for the amount of the Transfer and apply that money to amounts owed, and/or we may:

  • engage in collection efforts to recover such amounts from you;
  • place a limitation or take other action on your Banqdrop Account

If we invalidate a Transfer because the originating bank declined or reversed the transaction, then you may be liable for the Transfer even if you disagree with the decision of the originating bank to decline or reverse the transfer. If you believe that a Transfer initiated with your Banqdrop Bucket was not authorized, then you must notify us immediately by emailing support@banqdrop.com

If you fail to report the unauthorized activity directly to us, then we may recover the amount of the reversed transfer from you, as described above.

Restricted Activities

In connection with your use of the Bandrop Application, or in the course of your interactions with us, other Banqdrop users, or third parties, you must not:

  • Breach this user agreement, the Acceptable Use Policy, or any other agreement between you and Banqdrop;

  • Violate any law, statute, ordinance, or regulation (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising);

  • Infringe our or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;

  • Create or control more than one Banqdrop Account for yourself without our express authorization, through, among other methods, using a name that is not yours, using a temporary email address or phone number, or providing any other falsified personal information;

  • Act in a manner that is defamatory, trade libelous, threatening or harassing;

  • Provide false, inaccurate or misleading information;

  • Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;

  • Control an account that is linked to another Banqdrop Account that has engaged in any of these restricted activities;

  • Use the Banqdrop Application in a manner that results in, or may result in:

  • complaints;

  • disputes; claims,

  • fees, fines, penalties or other liability or losses to Banqdrop, other customers, third parties, or you;

  • Have any amounts owed to us;

  • Access the Banqdrop Application from outside the United States;

  • Take any action that imposes an unreasonable or disproportionately large load on our websites, software, systems (including any networks and servers used) operated by us, or on our behalf, or the Banqdrop Application;

  • Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempts to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorized access to any system, data, information;

  • Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our websites without our prior written permission; or use any device, software or routine to bypass our robot exclusion headers;

  • Interfere or disrupt or attempt to interfere with or disrupt our websites, software, systems (including any networks and servers used) operated by us or on our behalf, any of the Banqdrop Application or other users’ use of any of the Banqdrop Application;

  • Take any action that may cause us to lose any of the services from our Internet service providers, payment processors, or other suppliers or service providers;

  • Circumvent any of our policies or determinations about your Banqdrop Account such as temporary or indefinite suspensions or other account holds, limitations or restrictions, including, but not limited to, engaging in the following actions: attempting to open new or additional Banqdrop Account(s) when you have amounts owed to us or when your Banqdrop Account has been restricted, suspended or otherwise limited; opening new or additional Banqdrop Accounts using information that is not your own (e.g. name, address, email address, etc.); or using someone else’s Banqdrop Account; or

  • Harass and/or threaten our employees, agents, or other users.

Actions We May Take if You Engage in Any Restricted Activities

If we believe that you’ve engaged in any of these activities, we may take a number of actions to protect ourselves, our users and others at any time in our sole discretion. The actions we may take include, but are not limited to, the following:

  • Terminate this user agreement, limit your Banqdrop Account, and/or close or suspend your Banqdrop Account, immediately and without penalty to us;
  • Revoke your eligibility to use the Banqdrop Application in the future;
  • Limit your access to our websites, software, systems (including any networks and servers used) operated by us or on our behalf, your Banqdrop Account.
  • Update inaccurate information you provided us;
  • Take legal action against you; or
  • If you’ve violated our Acceptable Use Policy, then you’re also responsible for damages to us caused by your violation of this policy.

If we close your Banqdrop Account for any reason, we’ll provide you with notice of our actions and make any remaining Dwolla account balance available for bank transfers.

You are responsible for all claims, fees, fines, penalties and other liability incurred by us, any Banqdrop user, or a third party caused by or arising out of your breach of this agreement, and/or your use of the Banqdrop Application.

Holds and Limitations

What are holds and limitations

Under certain circumstances, in order to protect Banqdrop and the security of Banqdrop users, Banqdrop may, in its sole discretion, take account-level or Transfer-level actions.

Our decision about holds and limitations may be based on confidential criteria that are essential to our management of risk and the protection of Banqdrop, our users and/or service providers. We may use proprietary fraud and risk modeling when assessing the risk associated with your Banqdrop Account. In addition, we may be restricted by regulation or a governmental authority from disclosing certain information to you about such decisions. We have no obligation to disclose the details of our risk management or security procedures to you.

Account Limitations

Limitations are implemented to help protect Banqdrop and our users when we suspect restricted activities or activity that appears to us as unusual or suspicious. Limitations also help us collect information necessary for keeping your Banqdrop Account open.

There are several reasons why your Banqdrop Account could be limited, including:

  • If we suspect someone could be using your Banqdrop Account without your knowledge, we’ll limit it for your protection and look into the unusual activity.
  • If another financial institution alerts us that someone has compromised the security of a linked bank account.
  • In order to comply with the law.
  • If we reasonably believe you have breached this agreement or violated the Acceptable Use Policy.

You will need to resolve any issues with your account before a limitation can be removed. Normally, this is done after you provide us with the information we request. However, if we reasonably believe a risk still exists after you have provided us that information, we may take action to protect us, our users, a third party, or you from reversals, fees, fines, penalties, legal and/or regulatory risks and any other liability.

Court Orders, Regulatory Requirements or Other Legal Process

If we are notified of a court order or other legal process (including garnishment or any equivalent process) affecting you, or if we otherwise believe we are required to do so in order to comply with applicable law or regulatory requirements, we may be required to take certain actions, including suspending your Banqdrop Account. We will decide, in our sole discretion, which action is required of us. We do not have an obligation to contest or appeal any court order or legal process involving you or your Banqdrop Account. When we implement a hold or limitation as a result of a court order, applicable law, regulatory requirement or other legal process, the hold or limitation may remain in place longer than 180 days.

Protect Yourself from Unauthorized Transfers

To protect yourself from unauthorized activity in your Banqdrop Account, you should regularly log into your Banqdrop Account and review your Balances. You should also review the activity in all Buckets that you are a member of and track each initiated Transfer to ensure it was authorized and accurately completed.

An “Unauthorized Transfer” is one when a Transfer is approved from your Banqdrop Account that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your Banqdrop Account, and completes a Transfer from your Personal Bucket to another Bucket, an Unauthorized Transfer has occurred.

What is not considered an Unauthorized Transaction

The following are NOT considered Unauthorized Transactions:

  • If you give someone access to your Banqdrop Account (by giving them your login credentials) and they use your Banqdrop Account without your knowledge or permission. You are responsible for Transfers made in this situation.
  • Invalidation of a Transfer as described in Invalidated Transfers

Reporting an Unauthorized Transfer

If you believe your Banqdrop login credentials have been lost or stolen, please email support@banqdrop.com immediately

Tell us AT ONCE if you believe that a Transfer has been made without your permission using your login information or by other means, or if your mobile phone with the Banqdrop Application installed has been lost, stolen, or deactivated.

You could lose all the funds associated with your Banqdrop Account.

Filing a reversal with your financial institution related to a Banqdrop Transfer does not constitute notice of an Unauthorized Transfer to us. You must contact us directly to notify us of Unauthorized Transfers by emailing support@banqdrop.com

Error Resolution

What is an error

An “error” means the following:

  • When money is either incorrectly Transfer from a Banqdrop Bucket or incorrectly Transferred to a Banqdrop Bucket, or when a Transfer is incorrectly recorded in a Bucket Ledger.
  • An incorrect amount is credited to a Banqdrop Bucket.
  • A Transfer is missing from or not properly recorded in a Banqdrop Bucket.
  • We make a computational or mathematical error related to a Banqdrop Bucket Balance.

What is not considered an error

The following are NOT considered errors:

  • If you give someone access to your Banqdrop Account (by giving them your login credentials) and they use your Banqdrop Account without your knowledge or permission. You are responsible for Transfers made in this situation.
  • Invalidation and reversal of a Transfer as described in Invalidated Transfers

In case of errors or questions about Banqdrop Transfers or bank transfers

Please email support@banqdrop.com

Notify us as soon as you can if you think a Bucket Balance or Transfer displayed is wrong. Filing a reversal with your financial institution related to a Banqdrop Transfer does not constitute notice of an error to us. You must contact us directly to notify us of errors.

Communications Between You and Us

If you provide us your mobile phone number, you agree that we, including our affiliates, may contact you at that number using text messages to: (i) service your Banqdrop Account, (ii) investigate or prevent fraud, or (iii) collect a debt. We will not use autodialed or prerecorded message calls or texts to contact you for marketing purposes. We may share your mobile phone number with service providers with whom we contract to assist us with the activities listed above, but we will not share your mobile phone number with third parties for their own purposes without your consent.

We may communicate with you about your Banqdrop Account and the Banqdrop Application electronically as described in our Consent to Receive Electronic Disclosures. You will be considered to have received a communication from us, if it’s delivered electronically, 24 hours after the time we post it to our website or email it to you.

You understand and agree that, to the extent permitted by law, we may, without further notice or warning, monitor or record telephone conversations you or anyone acting on your behalf has with us or our agents for quality control and training purposes or for our own protection. You acknowledge and understand that while your communications with us may be overheard, monitored, or recorded not all telephone lines or calls may be recorded by us, and we do not guarantee that recordings of any particular telephone calls will be retained or retrievable.

Our Rights

Our suspension and termination rights

We, in our sole discretion, reserve the right to suspend or terminate this user agreement, access to or use of our websites, software, systems (including any networks and servers used) operated by us or on our behalf or some or all of the Banqdrop Application for any reason and at any time upon notice to you and, upon termination of this user agreement, the payment to you of any unrestricted money being held for you.

IF YOU HAVE AMOUNTS PAST DUE, YOU SHOULD CONFIRM THAT YOUR PAYMENT METHODS CONTAIN FUNDS SUFFICIENT TO COVER ANY AMOUNTS PAST DUE. THIS WILL HELP YOU AVOID OVERDRAFT OR OTHER FEES YOUR FINANCIAL INSTITUTION MAY CHARGE.

No waiver

Our failure to act with respect to a breach of any of your obligations under this user agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.

Indemnification and Limitation of Liability

Indemnification

You must indemnify Banqdrop for actions related to your Banqdrop Account and your use of the Banqdrop Application. You agree to defend, indemnify and hold Banqdrop 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 this user agreement, your improper use of the Banqdrop Application, 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 Banqdrop Account or access our websites, software, systems (including any networks and servers used) operated by us or on our behalf, or any the Banqdrop Application on your behalf.

Limitation of liability

Banqdrop’s liability is limited with respect to your Banqdrop Account and your use of the Banqdrop Application. In no event shall Banqdrop 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) operated by us or on our behalf, or this user agreement (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, Banqdrop is not liable, and you agree not to hold Banqdrop 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 your inability to use, our websites, software, systems (including any networks and servers used) operated by us or on our behalf, or the Banqdrop Application; (2) delays or disruptions in our websites, software, systems (including any networks and servers used) operated by us or on our behalf and the Banqdrop Application; (3) viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and servers used) operated by us or on our behalf or the Banqdrop Application or any website or service linked to our websites, software or the Banqdrop Application; (4) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems (including any networks and servers used) operated by us or on our behalf or the Banqdrop Application 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 Banqdrop Account; or (7) your need to modify your practices, content, or behavior, or your loss of or inability to do business, as a result of changes to this user agreement or our policies.

Disclaimer of Warranty and Release

No warranty

The Banqdrop Application is 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 guarantee continuous, uninterrupted or secure access to any part of the Banqdrop Application, and operation of our websites, software, or systems (including any networks and servers used) operated by us or on our behalf may be interfered with by numerous factors outside of our control. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, debit cards, credit cards, and check issuances are processed in a timely manner but we make no representations or warranties regarding the amount of time needed to complete processing because the Banqdrop Application are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you.

Your Release of Us

If you have a dispute with any other Banqdrop user, 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, for example, California Civil Code § 1542) 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.

Agreement to Arbitrate

ANY CLAIMS ARISING OUT OF, RELATING TO, OR CONNECTED WITH THIS USER AGREEMENT MUST BE ASSERTED INDIVIDUALLY IN BINDING ARBITRATION CONDUCTED BY A SINGLE ARBITRATOR WITH EXPERIENCE IN CONSUMER ONLINE PAYMENT SERVICES DISPUTES ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION (“AAA”) IN ACCORDANCE WITH ITS COMMERCIAL ARBITRATION RULES AND THE AAA SUPPLEMENTARY PROCEDURES FOR CONSUMER-RELATED DISPUTES.

The forum for arbitration shall be in the city closest to your residence having a federal district courthouse. The arbitrator shall not conduct any form of class or collective arbitration nor join or consolidate claims by or for individuals. To the extent allowed by applicable law, the Arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this user agreement including, but not limited to, any claim that all or any part of this user agreement is void or voidable. Judgment on the award rendered by the arbitrator may be entered in any court of competent jurisdiction.

Waiver of Right to Jury; Class Action Waiver

TO THE EXTENT ALLOWED BY LAW, YOU AGREE TO IRREVOCABLY WAIVE ANY RIGHT YOU MAY HAVE TO A TRIAL BY JURY OR OTHER COURT TRIAL (OTHER THAN SMALL CLAIMS COURT) OR TO SERVE AS A REPRESENTATIVE, AS A PRIVATE ATTORNEY GENERAL, OR IN ANY OTHER REPRESENTATIVE CAPACITY, OR TO PARTICIPATE AS A MEMBER OF A CLASS OF CLAIMANTS, IN ANY LAWSUIT, ARBITRATION OR OTHER PROCEEDING FILED AGAINST US AND/OR RELATED THIRD PARTIES.

Intellectual Property

Our trademarks

"Banqdrop.com," "Banqdrop," and all logos related to the Banqdrop Application are trademarks Banqdrop. You may not copy, imitate, modify or use them without our prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are service marks, trademarks, and/or trade dress of Banqdrop. You may not copy, imitate, modify or use them without our prior written consent. You may not alter, modify or change these logos in any way, use them in a manner that mischaracterizes Banqdrop or the Banqdrop Application or display them in any manner that implies Banqdrop’s sponsorship or endorsement. All right, title and interest in and to the Banqdrop websites, any content thereon, the Banqdrop Application, the technology related to the Banqdrop Application, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of Banqdrop and its licensors.

License grants, generally

If you are using our software application, which may include software provided by or integrated with software, systems or services of our service providers, that you have downloaded or otherwise accessed through a mobile platform, then Banqdrop grants you a revocable, non-exclusive, non-sublicensable, non-transferable, royalty-free limited license to access and/or use the software application in accordance with the documentation accompanying such software. 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 Banqdrop Application. If you do not comply with implementation, access and use requirements you will be liable for all resulting damages suffered by you, us and third parties. We may update or discontinue any software upon notice to you. While we may have (1) integrated certain third party materials and technology into any web or other application, including its software, and/or (2) accessed and used certain third party materials and technology to facilitate providing you with the Banqdrop Application, 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 Banqdrop and any third party materials integrated therein are owned by our third party service providers. Any other third party software application you use on the our websites is subject to the license you agreed to with the third party that provides you with this software. You acknowledge that Banqdrop does not own, control nor have any responsibility or liability for any such third party software application you elect to use on any of our websites, software and/or in connection with the Banqdrop Application.

License grant from you to Banqdrop; intellectual property warranties

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 the Banqdrop Application, you grant us (and parties that we work with) a non-exclusive, irrevocable, royalty-free, transferable, and worldwide license to use your content and associated intellectual property and publicity rights to help us improve, operate and promote our current services and develop new ones. We will not compensate you for any of your content. You acknowledge that our use of your content will not infringe any intellectual property or publicity rights. Further, you acknowledge and warrant that you own or otherwise control all of the rights of the content you provide, and you agree to waive your moral rights and promise not to assert such rights against us.

Miscellaneous

Assignment

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.

Governing law

You agree that, except to the extent inconsistent with or preempted by federal law and except as otherwise stated in this user agreement, the laws of the State of California, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and Banqdrop regarding your use of the Banqdrop Application.

Identity authentication

You authorize us, directly or through third parties, to make any inquiries we consider necessary to verify your identity. This may include:

  • asking you for further information, such as your date of birth, a social security or taxpayer identification number, your physical address and other information that will allow us to reasonably identify you;
  • requiring you to take steps to confirm ownership of your email address, phone number or financial instruments;
  • ordering a credit report from a credit reporting agency, or verifying your information against third party databases or through other sources; or
  • requiring you to provide your driver’s license or other identifying documents.

Privacy

Please review our Privacy Policy in order to understand our use and disclosure of your information.

Third party providers

The Banqdrop app works on an application linked to a particular device and operating system, such as Apple’s iOS operating system. Your use of the Banqdrop services may be subject to separate agreements you may enter into with your mobile device operating system provider, your mobile device manufacturer, your mobile service carrier, and other parties involved in providing your mobile device service, which we collectively refer to as “Covered Third Parties.” You agree to comply with all applicable third-party terms of agreement when using the Banqdrop Services. We are not a party to those agreements and we have no responsibility for the products and services provided by third parties. You acknowledge and agree that this agreement is between you and Banqdrop, not with any Covered Third Party. You acknowledge and agree that we are solely responsible for the Banqdrop services and for providing maintenance and support services..

Covered Third Parties have no warranty obligations whatsoever with respect to the Banqdrop Application and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure of the Banqdrop Application to conform to any warranty provided by us, if any, will be our sole responsibility.

We, not any Covered Third Parties, are responsible for addressing any claims relating to the Banqdrop Application, including, but not limited to: (i) product liability claims; (ii) any claim that the Banqdrop Application fails to conform to any applicable legal or regulatory requirement; (iii) claims arising under consumer protection, privacy, or similar legislation; and (iv) intellectual property claims.

You acknowledge and agree that Apple, and Apple’s subsidiaries, are third party beneficiaries of this Agreement, and that Apple will have the right (and will be deemed to have accepted the right) to enforce this agreement against you as a third party beneficiary.

Your use of information; Data protection laws

If you receive information about another Banqdrop user, you must keep the information confidential and only use it in connection with the Banqdrop Application. You may not disclose or distribute any information about Banqdrop users to a third party or use the information for marketing purposes unless you receive that user’s express consent to do so.

The privacy and data protection laws that may apply include any associated regulations, regulatory requirements and codes of practice applicable to the provision of the services described in this agreement.

In complying with such laws, you will:

  • implement and maintain all appropriate security measures for the processing of personal data; and
  • not knowingly do anything or permit anything to be done which might lead to a breach of any privacy data protection laws by us.

Definitions

“Admin” refers to the user which has the full authority and control over any Bucket. This role is unique and non-transferrable to another user or Bucket Member. This role indicates the user corresponding to the owner of the funds represented in the Bucket either held in an a Dwolla account or linked bank account.

“Bandrop Application” means the mobile software application and/or website designed to provide a user experience.

“Banqdrop Account” or “Account” means an account created through the user signup process on the Banqdrop mobile software application.

“Bucket” means a user interface component for modularly representing funds.

“Bucket Balance” means the amount displayed in association with a particular Bucket.

“Bucket Ledger” means a user interface component that contains a history of complete Transfers of that Bucket and possible other user actions performed in association with that Bucket (e.g. changing the Bucket Name)

“Bucket Name” means the title which users can commonly identify a particular Bucket.

“Destination Bucket” means the Bucket which a Transfer amount goes to.

“Linked Bank Bucket” means a Bucket which acts as a user interface to represent a user’s linked bank account.

“Member” refers to a user which has limited visibility and actionability in regards to a particular Bucket.

“Personal Bucket” means a user interface component which acts for the convenience of a user organizing the representation of funds disparately without any direct association to another user.

“Shareable Bucket” means a user interface component which acts for the purpose of allowing multiple users to collaboratively view and act on funds in a limited fashion controlled by an Admin.

“Source Bucket” means the Bucket which a Transfer amount comes from.

“Transfer” means a user action with a relationship between two Buckets which, if completed, would adjust both Bucket Balances by adding and subtracting equal amounts from each of the two buckets so that the combined sum of both Bucket Balances remains the same. A Transfer may not actually represent a movement of funds being held by a financial institution. A TRANSFER MAY NOT ACTUALLY REPRESENT A MOVEMENT OF FUNDS HELD IN A FINANCIAL INSTITUTION AND IS NOT EQUIVALENT TO A PAYMENT OR FUND TRANSFER.

“Us”, “we” or “our” refers to Banqdrop.

“You” or “your '' means any person or entity using the Banqdrop Application.

Edit this page