Terms and Limitations

Effective Date: November 1, 2025
Last Updated: November 10, 2025

1. Introduction

These Terms of Use (“Terms”) govern your use of the payment features offered by SPLIT LLC. through our website, mobile app, or any related services (collectively, the “Platform”). By creating an account, linking a bank account, or initiating a payment, you agree to these Terms.

If you do not agree, please discontinue use of our Platform. Continued use after updates means you accept the revised Terms.

2. Eligibility

To use our payment services, you must:

Be at least 18 years old and reside in the United States.
Have a valid U.S. bank account in your name.
Have legal capacity to enter into a binding contract.
Provide accurate and verifiable personal and financial information.

We reserve the right to deny or suspend your account at any time to comply with federal or state regulations or to protect against fraud.

3. Linking a Bank Account

When you link a bank account, you authorize us and our third-party financial service partners (such as Plaid, Finicity, or Stripe) to securely access and verify your account information. This may include:

Account number, routing number, and account type;
Account balance and transaction history (for verification);
Identity confirmation through your financial institution.

Your login credentials are never shared with or stored by us. We only receive a tokenized connection that allows secure payment processing.

By linking a bank account, you represent and warrant that:

You are the lawful owner of the account;
You have the authority to authorize debits and credits; and
Your account is in good standing with your bank.

4. Payment Authorization

By initiating a transaction on our Platform, you authorize us and our service providers to:

Debit or credit your linked account to complete the transaction;
Reverse or correct transactions if errors or disputes occur; and
Deduct applicable fees, if any, as disclosed at the time of transaction.

You also agree that all payments initiated through your account are deemed authorized by you unless you notify us in writing of an unauthorized transfer as outlined in Section 9 (Unauthorized Transactions & Liability).

5. Transaction Limits

For your protection and to comply with financial regulations, we may impose limits on:

The amount of money you can send or receive per transaction, per day, or per month;
The number of transactions you can perform; and
Certain high-risk or international transfers.

These limits may change without notice based on account activity, verification status, or regulatory requirements.

6. Fees

We will clearly disclose any fees before you authorize a payment. Fees may apply to certain transactions, expedited transfers, or withdrawal methods.
By confirming a transaction, you consent to all applicable fees associated with that transfer.

7. Transaction Timing

Funds transferred using your linked bank account may take 1–3 business days to settle, depending on your financial institution.
We are not responsible for delays caused by your bank, third-party service providers, or external payment networks (e.g., ACH, Fedwire).

8. Reversals, Holds & Cancellations

We may place a hold or reversal on any transaction if we suspect fraud, unauthorized activity, insufficient funds, or legal compliance issues.
In such cases, you will be notified via email or in-app alert, and funds may be temporarily unavailable until the issue is resolved.

9. Unauthorized Transactions & Liability

9.1 Reporting Unauthorized Activity

If you believe an unauthorized payment or account access occurred, you must notify us immediately.
Prompt reporting is crucial for your protection under the Electronic Fund Transfer Act (EFTA) and Regulation E.

If you notify us within two (2) business days of learning of the loss or theft, your liability is limited to $50.
If you notify us after two (2) business days but within sixty (60), you may be liable for up to $500.
If you wait longer than sixty (60) days after a statement reflecting the unauthorized transaction is made available, you could be responsible for the full amount of the loss.

9.2 Investigations

Upon receiving notice, we will promptly investigate. If we determine an error occurred, we will correct it and reimburse your account within the time required by law.
If we require more time, we may provisionally credit your account during the investigation.

10. Disputes Between Users

You agree that we are not responsible for disputes between you and another user (e.g., buyer, seller, friend, or family member).
We may facilitate communications or provide transaction information but are not obligated to resolve disputes or provide refunds unless required by law.

11. Restricted Activities

You may not use our Platform to:

Engage in illegal, fraudulent, or deceptive activities;
Send or receive payments for prohibited goods or services (including gambling, controlled substances, or weapons);
Attempt to interfere with or bypass our security systems;
Use another person’s bank account without authorization; or
Create multiple accounts to avoid limits or restrictions.

Violation of this policy may result in account suspension, transaction reversal, or permanent termination.

12. Compliance & Monitoring

We comply with all relevant U.S. banking, anti-money-laundering (AML), and counter-terrorism financing (CTF) regulations, including the Bank Secrecy Act (BSA) and USA PATRIOT Act.
We may collect and share information with law enforcement or regulatory agencies when required to do so.

13. Termination

You may close your account at any time by contacting support. We may suspend or terminate your access to the Platform for:

Violation of these Terms or applicable law;
Risk of fraud or unauthorized use;
Unverified or inaccurate identity information.

Upon termination, any pending transactions will be canceled, and funds held will be returned to your linked bank account (subject to compliance holds or disputes).

14. Limitation of Liability

To the fullest extent permitted by law:

We are not liable for indirect, incidental, or consequential damages arising from your use of the Platform.
Our total liability to you for any claim will not exceed the total fees you paid to us in the past twelve (12) months.
We are not responsible for issues caused by your bank, third-party providers, or force majeure events.

Some states do not allow certain limitations of liability, so these may not apply to you.

15. Governing Law

These Terms are governed by and interpreted under the laws of the State of California, without regard to its conflict of law principles.
Any disputes will be resolved in the federal or state courts located in Los Angeles, California, and you consent to their exclusive jurisdiction.