Terms of Service

PayDownHero, Inc. Terms of Agreement (“Agreement”) is a binding agreement between you (“user”, “users” or “you”/“your”) and PayDownHero, Inc., a Delaware Corporation (“Company” or “we” or “us” or “PDH”). This Agreement directs your use of PayDownHero’s (“PayDownHero” or “PDH”) Application (or “Application “, “App” or “app”).  The PayDownHero App is explicitly Licensed, not sold, to you, the user.

 

The services provided through PDH’s App, help you pay off your auto loan debt faster, by rounding up your debit purchases to the next dollar. At the end of each week, PDH will calculate your rounds ups, and debit that amount from your linked checking account, PDH will transfer the funds via ACH Debit, to your FDIC-insured PDH FBO account, held at Evolve Bank and Trust. Users may also utilize our micropayments option, which are additional amounts of money a user may wish to send towards their loan throughout the month.  These amounts are also calculated out and debited weekly.  Within the last week of the month, PDH will instruct Evolve Bank and Trust, to initiate a payment of all aggregated round ups and micro payments throughout that respective month, to be sent as one payment, to your linked auto loan lender account. To use this app, you will be required to submit bank account and auto loan servicer information as provided below.  In addition, PDH offers a user the ability to have their base monthly payment made for them via the app.  A user must select this feature when linking their loan.  A user has the option to opts out of this feature at any time using the toggle feature.

 

The services provided through PDH’s app are provided through a paid monthly user fee.  This fee will automatically renew at the beginning of each month.  The monthly fee is $.99 (ninety-nine cents, USD) per month of use.  Additionally, PDH charges 2.5% of all monthly round ups and micro payments (micro and turbo clicks).  If a user opts to use our base payment feature, PDH charges .5% of the total payment amount, to facilitate that payment on their behalf.  By accepting the terms of agreement and use during the initial sign up portion of PDH’s app, you acknowledge you have read these agreements terms, understand these agreements and terms, are at least 18 years old, and accept all agreements and terms, and do so by checking the box in agreement.  If you do NOT agree to these agreements and terms, DO NOT continue the process of on boarding onto the app, and discontinue use of the application immediately.

 

License Grant: Subject to the terms of this Agreement, PayDownHero, Inc. grants you a limited, non-exclusive and nontransferable license to:

Download, provide your personal information, install, and utilize the app for your personal use.  This is non-commercial use on a mobile device owned and controlled by you.  All use will follow accordance with the app’s documentation and usage of rules agreements, that may be viewed as part of the App Stores Terms of Service.

Your use of the app, and agreement with its Terms of Service, are strictly between you and PDH, and PDH is responsible for all content within the app, NOT Apple.

 

Reserved Right of a User: As a user of the PDH app, you agree and acknowledge that the app is provided to you, under license.  It is not sold to you.  As a user, you do not acquire any ownership of PDH, or any of its functions.  All services provided through the app, it’s service providers, retain all legal rights, titles and interest, copyright, trademark and all other aspects of intellectual property.  Any exceptions, are those granted to you, and expressed in this agreement.

 

License Restrictions. Licensee shall not:

-Copy the app

-Translate, modify, adapt, translate, or create copied works or enhancements 

-Try to gain access to any code, either by deception, reverse engineering, or other technological means to alter any aspect of the app

-Abstruse any trademarks or any copyright, trademark, patent or other intellectual property or proprietary rights notices from the app, including any copy or;

-Rent, lease, lend, sell, sublicense, assign, distribute, publish, transfer or otherwise make available the app or any features or functionality of the app, to any third party for any reason, including by making the app available on a network where it is capable of being accessed by more than one device at any time; or infringe on any copywritten aspects of the app

 

Collection/Use of Your Information. 

When you use the PDH app, you are required to provide certain information about yourself.  The information PDH collects is subject to our privacy policy, and by downloading the app, providing the personal information, and checking the box in agreement to our terms, you are consenting to any information shared within the app, and all actions taken by us, with respect to your information, within compliance of this agreement, and our privacy policy.

 

The PDH app is for use by its users within the United States of America only.  The content and services PDH provide may not be accessible outside of the United States.  The PDH app is for use by individuals at least 18 years old in age.  If a user is NOT at least 18 years of age, and it is discovered by PDH, we will remove all access and information that pertains to that individual.  If you, as a user, are not at least 18 years old.  It is your responsibility to immediately send an email to us at accountservices@paydownhero.com and request remove immediately from the application. PDH will delete all account and user information for these individuals as soon as possible.

 

PDH is solely responsible for the support and maintenance of the app.  Apple has no obligation to support or maintain the PDH app.  From time to time, PDH may need to fix bugs, provide error support, patches, upgrade code, or introduce new features/enhancements.  Due to these actions, some functionality or features may be deleted or modified.  PDH has no obligation to provide notice of these changes.  The app will automatically update OR you will be prompted to install available updates after which agreement will state if failure to do so, may cause the app to not function properly.

 

PDH and the User acknowledge, agree and accept Apple and its subsidiaries are third party beneficiaries of this agreement, and users accept the terms and condition of this agreement with Apple.  Apple has the right to enforce this agreement against the user, as a third-party beneficiary.

PDH is not responsible for any third-party materials.  You, as a user, agree to these terms. To include: their accuracy, completeness, timeliness, validity, copyright compliance, legality, decency, quality or any other aspect thereof. PDH does not assume and will not have any liability or responsibility to you or any other person or entity for any third-party materials.  Third-party materials and links thereto are provided solely as a convenience to you and you access and use them at entirely at your own risk and subject to such third parties’ terms and conditions.  By using the service, you authorize PDH and Service Providers to access third party sites designated by you, on your behalf, to retrieve information requested by you, and to register for accounts requested by you. YOU ACKNOWLEDGE AND AGREE THAT WHEN PDH OR SERVICE PROVIDERS ACCESSES AND RETRIEVES INFORMATION FROM THIRD PARTY SITES, PDH AND SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You understand and agree that the service is not endorsed or sponsored by any third-party account providers accessible through the service. YOUR USE OF THE SERVICE AND ALL INFORMATION, PRODUCTS AND OTHER CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE SERVICE IS AT YOUR SOLE RISK. THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. PDH AND SERVICE PROVIDERS EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE SERVICE AND ALL INFORMATION, PRODUCTS AND OTHER CONTENT (INCLUDING THAT OF THIRD PARTIES) INCLUDED IN OR ACCESSIBLE FROM THE SERVICE, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. 

PDH AND SERVICE PROVIDERS MAKE NO WARRANTY THAT (i) THE SERVICE WILL MEET YOUR REQUIREMENTS, (ii) THE SERVICE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (iii) THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICE WILL BE ACCURATE OR RELIABLE, (iv) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICE WILL MEET YOUR EXPECTATIONS, OR (V) ANY ERRORS IN THE TECHNOLOGY WILL BE CORRECTED. 

User fees and Costs: The services provided through the PDH app are purchased as a paid monthly user fee. User fees ($.99 a month + 2.5% round ups, 2.5% micropayments, and IF optioned, .5% to make a base payment) are deducted monthly from your month-end “round ups” payment to your lender (i.e if $40 in round ups is accumulated throughout the month, and user’s fees are $3.12, $36.88 will be sent to their lender, and $3.12 sent to PDH’s operating account at Evolve Bank and Trust).  The same process is utilized for users who utilize the micro payments (micro and turbo click) options.  Users who utilize PDH’s base payment option, will see the fee deducted from their overall round-ups calculation as well.  Through your acceptance of this agreement, you authorize this deduction and transfer of funds. If a user does not contact PDH to cancel an account, these monthly fees will continue until cancelled.

 

Term/Termination Aspects:

The term of this agreement between you, the user, and PDH, begins when you acknowledge and accept these terms and conditioned, as outlined above and below in this agreement.  This agreement will remain in place until you, the user, or PDH terminates agreed upon service(s).  At any time, you may utilize the “Help” option on your user dashboard, and email PDH at: accountservices@paydownhero.com, to have your account deleted, and unenrolled from services with PDH.

PDH reserves the sole right to terminate this agreement at any time without notice, at its sole discretion if any of the defined terms and conditions are violated.

Termination: if a user requests termination of app use, all rights granted within this agreement will also be terminated.  PDH will cancel your account, delete your user information, and you, as the user, must cease all use of the app, including deletion from your mobile device.  PDH is not limited in any rights or remedies, at law or equity, upon a user’s termination of the app.

 

Upon cancellation, PDH will make an attempt within 10 business days to fully return any funds that have been debited and are sitting in PDH’s operating account at Evolve Bank and Trust.  If incorrect information or attempts to locate a user successfully in order to return these funds are NOT successful, PDH will make all reasonable attempts up to 60 days.  At that point, if still unsuccessful, applicable state laws will apply governing abandoned and/or unclaimed property rights.  

 

Funds transfers and accounts: 

By creating an account with PDH, and initiating bank debits, and credits (Electronic Funds Transfer, or EFTs), you agree to the terms of service and privacy policy of our financial services provider, Evolve Bank and Trust (https://www.getevolved.com/privacy-policy/ )

In using our service, you authorize PDH to hold your debited funds in a FDIC-insured FBO (for benefit of) account, at Evolve Bank and Trust.  Please note, any past or present accounts you may hold at Evolve Bank and Trust outside of the PDH app may not be insured separately.

 

PDH is partnered with Evolve Bank and Trust in order to offer the PDH app to its customers.  Evolve Bank and Trust makes payments to PDH’s users auto loan lenders on their behalf.  Signing up for the PDH app requires its users to accept that PDH uses Evolve Bank and Trust to debit their accounts for round ups, micro payments (micro and turbo clicks), and if a user enables base payments.  It is a user’s responsibility to provide factual and correct information in regards to their personal and financial information, so PDH and Evolve Bank and Trust may provide accurate service to users.  After successful onboarding to the PDH app, you will be prompted to link your bank checking account (for round ups, micro payments, and base payment debits, if applicable).  All funds which are debited from your account throughout the month and held, are held in a FDIC-insured FBO account at Evolve Bank and Trust.  By agreeing to these terms and conditions, you, the user, authorize Evolve Bank and Trust, through PDH, to debit the account indicated for the recurring transactions according my agreement with PDH, and I will not dispute PDH, as long as the transactions correspond to such terms. Unless I contact accountservices@paydownhero.com and explicitly ask to cancel my service with the app, this payment authorization will remain in effect.  PDH requires at least 3 business days in ADVANCE in order to void this payment authorization (prior to a payment debit or credit).  All EFT transactions are performed by and deposits are held by Evolve Bank and Trust.  PDH only transmit transaction instructions to Evolve Bank and Trust, our banking partner.  All transaction notifications will be provided to users from PDH.  Any errors or service complaints will be handled by PDH, and users must direct their concerns/questions to accountservices@paydownhero.com.  

 

EFT’s and disclosures: The following disclosure is in regards to electronic payments, debits, credits, transfer of funds, and any other electronic transfer from your account, to your account, from your lenders account, or to your lenders account.  An electronic transfer of funds, is a transfer of funds made by initiation from an electronic device, a computer, or mobile device, that instructs PDH to instruct the bank, to debit or credit an account.  By agreeing to PDH’s terms of agreement, you have authorized PDH provide instructions to Evolve Bank and Trust to debit or credit these accounts on your behalf.  If at any time you believe your account or information has been compromised, please alert PDH at once so we can monitor the situation and promptly rectify the issue.  You, as the user, are liable for the information you authorize PDH to utilize on your behalf to make EFTs.  If you believe a transaction is incorrect or there is an error, please contact accountservices@paydownhero.com within 3 business days, so we can sort out the issue.  PDH reserves the right to exercise up to 60 days in order to investigate any pending issues a user may have with their account, EFTs, or financial information that needs correction OUTSIDE of a user’s capability.

 

PDH uses Yodlee, Inc. to gather a user’s data from financial institutions. By using our service, you grant PDH and Yodlee the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Yodlee in accordance with the Yodlee Privacy Policy. 

In order to facilitate a safe and secure environment, PDH may at any time ask a user for additional information in regards to their identity.  Any content you make or submit through the PDH app is the sole responsibility of yours, the user.  PDH assumes no responsibility, and you, the user, agree to defend, indemnify, and hold harmless, PDH, all of its officers, employees, affiliates, directors and successors, against the following: penalties, settlements, judgements, liabilities, damages, losses, fines, expenses, or costs, from any misuse of the app, and/or your breach of this agreement.  This includes any attorney fees.  All users must comply with applicable federal laws, rules and regulations that limit the use of this app to the US only.  PDH reserves the right to adapt, change, or add to these terms at any time, and may provide you, the user, with notice of this change.  PDH uses both SMS, email, or push notifications (if applicable) to message its users.  If at any point you have a complaint, question or claim with PDH, you may contact our office:

 

PayDownHero, Inc.

214 Arlington Street

Chelsea, MA 02150

accountservices@paydownhero.com 

 

These Terms of Use are governed by the laws of Delaware without regard to conflicts of laws principles. Access or use of the PDH Site and/or app is unauthorized in any jurisdiction that does not give effect to all provisions of these terms and conditions, including without limitation this paragraph.  If any provision of this agreement is illegal or unenforceable under applicable law, the remainder of the provision will be amended to achieve as closely as possible the effect of the original term and all other provisions of this agreement will continue in full force and effect.

 

Arbitration agreement:

Unless prohibited by applicable law:

The restricted efforts of resolving a dispute or claim that comes from or is related to this agreement, or the service, will be through binding arbitration.  

By using the PDH app, you agree to the above binding arbitration statement and agreement.  By accepting the terms of use, and this agreement, you give up your right to go to court to defend or assert any claims between yourself and PDH.  In addition, you give up your rights to participate in any class proceeding lawsuit, or class action lawsuit.  Your rights will not be determined by a jury or judge, but by a neutral arbitrator.  Any dispute between yourself, and PDH, will be determined by the laws of the state of Delaware.

 

PDH will make continuous additions and enhancements to the app, as well as updates to its agreements and services.  PDH reserves the right to makes these changes at any time.  PDH may make changes, updates, or revisions, and will notify users within the app.  If there is an issue with this acceptance, you may cancel your use of the app with PDH by contacting accountservices@paydownhero.com  All accounts with PDH are non-transferable, if you die, no representative, agency, joint venture or third-party may bind PDH in any manner after this event.  Your account and services will be deleted in full and cease functionality, in this event. 

 

Conclusion:

With respect to this agreement, our privacy policy, and all applicable written or oral understandings of these terms of service, and terms of agreement, PDH and you, the user, understand, and agree to the terms as stated above, with respect to PDH, and the app.

 

 

PayDownHero- Privacy Policy

PayDownHero is committed to protecting your privacy and information.  This section pertains to our data usage, privacy details, and how we use information.  Please take a moment to review these details.  The details are described below:

 

When PayDownHero, Inc. (“PDH” or “we” or “us”) asks for information from you, the user (“user” or “you” or “your”) we do so to facilitate use of the app.  Our practices for using, protecting, collecting, and disclosing information pertains to what we collect within the app, our SMS service and all other electronic forms of communications sent from us to you, or you to PDH.  By using our service, you agree to PDH’s terms, but also understand we work with third-party service providers, that have their own privacy policies and usage details.  To properly gather data information and aggregation, we utilize Yodlee, Inc’s FastLink API.  By using our service, you agree and grant PDH and Yodlee, Inc. the power, authority and right to act on your behalf to access and transmit this information, both personal and financial, from the associated financial institutions, in order to provide you the full app experience.  In accordance with Yodlee, Inc’s privacy policy (https://www.yodlee.com/legal/privacy-notice/) you agree to their terms to store, transfer, and process your personal and financial information.  PDH does not store users financial accounts logins, passwords, or banking information on their server.  When a user onboards to the PDH app, they are asked to check a box, agreeing that they have read both our Terms of Service/Agreements, and this Privacy Policy.  By checking the box, the user accepts these terms that have been displayed in these documents.  By downloading the app, checking the box, and utilizing the app, that signifies your agreement with all of these terms.  At times, PDH will need to update its agreements, services and policy documents, if you continue to use the app after changes have been made, that is your acceptance of these changes.  PDH will update users when there are policy and service agreement changes to the app.

 

What information do we collect?

A new user on the PDH app will be asked the following questions in order to verify their information and identity.

-Full legal name

-Full legal address

-email address

-phone number

 

We collect this information in the onboarding process of the app.  If at any time you do NOT agree to these terms, please discontinue the sign-up process, and delete the app.

 

 

Full sign up process:

A user will be asked to link their daily use checking account, which will prompt them to the FastLink API.  The banking API is through Yodlee, Inc. and once successfully linked, a user’s bank checking account information will be viewable, and usable to them, within the app.  PDH does not store, gather, or copy login or password information used within this AP.  Many banks will also require a two-factor authentication access code be used.  PDH does not have access to view, acquire, store, or copy this information either.

 

 

How do we use your information?

Access to third party service accounts

Marketing and behavioral aspects of you, the user

Advertising

SMS management, management behind messages, either being sent or contacts

Our backend user database management

Content from external APIs or platforms

Payment management, incoming and outgoing

Invitations and management

Obligations from PDH to you, the user, and vice versa

App updates notifications

Data aggregation and platform use handled by third parties for app use

Account notices, subscription notices, expirations, renewals and other forms of contact

 

The PDH app depends on offering its users a robust and helpful platform, in order to fulfil these actions, and to help us improve our user experience, these information-based practices allow us to offer our users a more in-depth environment.  We can see usage patterns, time in/time out metrics, and analyze how to make UI/UX better for the end user.  PDH will never display personal identifiable information to the public.  

 

PDH works with multiple third-parties.  These third-party services are provided in order to maintain full functionality of the app.  These third parties may include service accounts, analytics, marketers, servers, networks (ad and marketing), your mobile provider and device manufacturer.  We do not control third party technology, please discontinue use of the PDH app if you do not agree to their terms of use.  PDH makes no warranties, or guarantees of third-party compliance.  A user has the right at any time to know whether their information has or is being used.  Please contact accountservices@paydownhero.com in order to verify accurate information in regards to information use. If changes to your account are needed, or you need help verifying any account related, data related, or to delete, change or correct any personal information, please contact accountservices@paydownhero.com

 

California Privacy Rights

https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?sectionNum=1798.83.&lawCode=CIV 

 

Data Encryption and Security

 

PDH takes reasonable measures to protect and secure your information from unauthorized access by adhering to industry accepted application security standards.  Transmissions over the internet are protected with strong encryption and information is never exposed between PDH, the mobile application or its business associates in a responsible and secure manner.

Unfortunately, the internet and mobile app platforms are not always secure.  PDH cannot guarantee the security of personal information within, transmitted, or shared, through the app.  Use of the app, and transmission of information, is done solely at the own risk of the user.  If a user circumvents our security measures and privacy settings, we cannot be held liable for issues that may arise from this.  If PDH reissues or updates their privacy policy, we will inform users of this change, and utilize the email we have on file, to do so.