Last updated: November 17, 2023

Welcome to Vola. These Terms of Service (“Terms”) govern your use of products and services provided by Vola Inc. (collectively “Vola,” “we”, “us”, or “our”). You can view information relating to our products and services from the website located at https://www.volafinance.com/ (the “Site”), and you can access and use Vola’s products and services by downloading our mobile device application (the “App”) available from the Apple App Store and Google Play Store. Our Site, our products and services, and the App are collectively referred to as the “Services.”

THIS AGREEMENT ALSO INCLUDES, AMONG OTHER THINGS, A BINDING ARBITRATION PROVISION THAT CONTAINS A CLASS ACTION WAIVER. PLEASE REFER TO SECTION 25 BELOW FOR MORE INFORMATION.

1. Agreement to Terms

Please carefully review these Terms before using or accessing the Services. If you do not agree to these Terms, you may not use or access the Services. By using our Services or clicking “Continue” or “Agree and Continue” (or a similar button or link) when provided with a link or other access to these Terms, you agree to be bound by these Terms. If you do not want to be bound by these Terms, do not use the Services or click “Continue.”

2. Modification to Terms

Vola reserves the right to amend the Terms at any time and will notify you of any such changes by posting the revised Terms on the Site, unless a different process or timeline is required by law. If we make material changes to these Terms, we will provide you notice of such changes before they become effective. You should check these Terms on the Site periodically for changes. All changes shall be effective upon posting. We will date the Terms with the last day of revision. Your continued use of the Services after any change to the Terms constitutes your agreement to be bound by any such changes.

3. Privacy Policy

Vola maintains a Privacy Policy, and it details how we handle and protect data. We fully incorporate our Privacy Policy into these Terms. Note that we reserve the right to update the Privacy Policy at our discretion, and that any changes made to our Privacy Policy are effective when the updates are live on the Site.

4. Consent to Obtain Information from Third Parties

To use the Services, you may direct Vola to retrieve your account transaction history, balance information, and other information maintained by third parties with which you have relationships, support accounts, or engage in financial transactions, including without limitation, an external bank account (such information, “Third-Party Account Information”; such bank account, a “Bank Account”). Vola works with one or more third- party service providers, to access this Third-Party Account Information. By using the Services, you authorize Vola to access this information maintained by identified third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us. By agreeing to the Terms, you are also agreeing that you are responsible for keeping your passwords and usernames for this Third-Party Account Information secure, and for keeping those passwords and usernames up to date in the App. Vola does not review the Third-Party Account Information for accuracy, legality, or non-infringement, and Vola is not responsible for your Third-Party Account Information or products and services offered by or on third-party sites. Any Third-Party Account Information displayed through the Services will be the information we most recently accessed. This information may not reflect pending transactions or other recent activity. These Terms are not an application for credit.

Vola currently utilizes Plaid Inc. (“Plaid”), a third-party technology company, to retrieve your linked Bank Account information. Plaid offers a secure method of transmitting your linked Bank Account information, and Vola does not see or store your bank credentials. For more information on Plaid, please see https://plaid.com/legal/#privacy-statement.

Vola currently utilizes Forward Lending, Inc. (“Method”), a third-party technology company, to retrieve your linked liability account information. Method offers a secure method of transmitting your linked liability account information, without the need for account credentials. By using Vola, you agree to Method’s Privacy Policy and Terms of Service.

5. Registration and Your Information

In order to access the Services, you must create an account with Vola (a “Vola Account”). Vola is not a depository institution, and a Vola Account is not a bank account. When you sign up for our Services, you agree to provide accurate, current, and complete information—such as your name, mailing address, and email address— as may be prompted by any registration forms available through the Services or otherwise requested by Vola (“Account Information”). This process will include the creation of a Login ID and password for your Vola Account. You further represent that you are a legal owner of and that you are authorized to provide us with, all Account Information and other information necessary to facilitate your use of the Services. When you create your Vola Account and from time to time thereafter, we may require you to, and you hereby agree to, provide and/or confirm information and documentation that will allow us to identify you, such as:

1. A copy of your government-issued photo ID, such as a passport or driver’s license;

2. Such other information and documentation that we may require from time to time.

You must provide us with accurate, complete, and up-to-date information for your Vola Account and your Bank Account, and you agree to update such information, as needed, to keep it accurate, complete, and up-to-date. If you do not, we may suspend or terminate your Vola Account. You agree that you will not disclose your Vola Account password to anyone and you will notify us immediately of any unauthorized use of your Vola Account. You also agree not to transfer your Vola Account to any third party. You are responsible for all activities that occur under your Vola Account, whether or not you know about them. Should you believe or have reason to believe that any of your Account Information, including your Login ID and/or password, has been compromised, or that another person is accessing your Vola Account through some other means, you agree to notify us as soon as possible at corp@volafinance.com.

6. Eligibility to Use Services

You may use the Services only if you: (i) have reached the age of majority in your state of residence and are capable of forming a binding contract with Vola; (ii) are a United States citizen (or a legal U.S. resident); (iii) hold a Bank Account; and (iv) are not barred from using the Services under applicable law. If your Bank Account is a joint account, you represent and warrant that you have the authority to bind the absent account holder and to enter into these Terms.

7. Overview of Memberships and Services

Vola offers a variety of Services under its Basic Membership and Premium Membership as described below:

7.1 Basic Membership.

The Basic Membership is free. The Basic Membership enables you to create a Vola Account, gain access to the App, Site and budgeting tools, including income and expense tracking as well as estimates of upcoming bills and other expenses, and obtain free Advances up to $500. The Advances are non-recourse. We reserve the right to deny you access to Advances if you (i) do not meet the qualification requirements described above (ii) request more than two Advances within thirty days or (iii) have not repaid the full balance of an outstanding Advance. You may obtain an Advance with a Basic Membership by emailing hello@volafinance.com and stating that you would like an Advance without subscribing for a Premium Membership.

7.2 Premium Membership.

The Premium Membership is subject to a monthly subscription fee (“Subscription Fee”) and enables access to a broader suite of Services, including Vola’s savings features such as access to coupons and discounts (the “Management Services”). The Subscription Fee is based on the tier that is selected. To access the Premium Membership, you must agree to Vola’s Subscription Agreement.

8. Advances

8.1 Overview of Advance Service

We offer Advances based on your anticipated income. If you have linked one (1) or more Bank Accounts to your Vola Account and we detect that you are likely to have insufficient funds for upcoming transactions involving your Bank Account(s) based on your previous account activity, we will alert you to the possibility of having insufficient funds through the Services. You will then be offered the opportunity to receive a free Advance to your Bank Account(s) or debit card linked to your Vola Account. The maximum Advance amount is $500. We reserve the right to adjust Advance amounts and our eligibility criteria at any time.

8.2 Advance Repayment.

Each Advance is repayable in one (1) installment. We reserve the right to charge your Bank Account or debit card linked to your Vola Account for Advance repayment on or around: (1) your pay date, or (2) the pay back date selected by you through the App. Vola warrants that it has no legal or contractual claim against you based on a failure to repay an Advance; provided that Vola will not provide you further Advances while any Advance remains unpaid. With respect to a failure to repay an Advance, Vola warrants that it will not engage in any debt collection activities, place the amount owed with or sell to a third party, or report you to a consumer reporting agency. Although Vola is helping users avoid overdraft fees, Vola is not responsible for any overdraft fees, over-the-limit fees, insufficient fund charges, or any other bank fees that result from your failure to maintain a sufficient balance in your Bank Account(s). Vola monitors your balance and will attempt to ensure you have sufficient funds before debiting your Bank Account(s), but Vola makes no warranties that an overdraft will not occur.

9. Referral Program

9.1 Referral Fee

Vola will provide you with a unique code and/or a unique website link that, when utilized, will direct a Referred Customer to the Services (the “Affiliate Link”). Vola may suspend or terminate the Affiliate Link at any time in its sole discretion. Vola shall have no obligation whatsoever to provide the Services to any Referred Customer utilizing the Affiliate Link. However, you are eligible for a referral fee for those Referred Customers that subscribe to a Premium Membership (the “Referral Fee”); provided however that any registration by a Referred Customer for Premium Membership arising out of your violation of Section 9.2 is ineligible for a Referral Fee.

We will pay you Referral Fees within fifteen (15) days of a Referred Customer subscribing for a Premium Membership.

You hereby acknowledge that (a) there can be a large delay in time between when a Referred Customer first interacts with the Service and when such Referred Customer subscribes for a Premium Membership, (b) a Referred Customer may choose to only obtain a Basic Membership and (c) a Referred Customer may choose not to obtain the Services.

You agree that you are responsible for, and will indemnify us and hold us harmless for, the payment of all taxes arising from the payment of Referral Fees

9.2 Limitations.

You hereby acknowledge that you are only eligible to receive a Referral Fee for up to ten (10) Referred Customers; provided that we, in our sole discretion, may (a) further limit the number of Referral Fees you are eligible to receive or (b) waive this limitation on a retroactive or ongoing basis.

You may not negotiate or enter into any agreement with any Referred Customer on behalf of Vola. You may not make any representations or warranties concerning the Services to any Referred Customer except as expressly permitted herein.

You will not attempt to mislead anyone regarding the Services or your relationship with us, whether by affirmative representation, implication, or omission. You agree that you will not impersonate any person, suggest that an affiliation or partnership exists with a third party where none exists, or create websites, domains, URLs, social media handles or email addresses containing the word “Vola”.

You will not “spam” anyone with the Affiliate Link, and agree to comply with the Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 (“CAN-SPAM”), the Telephone Consumer Protection Act (“TCPA”), and all other applicable laws.

You will not post, in connection with the Affiliate Link or the Referral Program, any of the following: (a) disparaging or defamatory content concerning Vola or third parties, (b) offensive, abusive, intimidating or harassing content, (c) content that is sexually explicit, obscene and/or contains nudity, (d) names or marks of Vola’s competitors, (e) images of celebrities or other public or private figures without written consent or (f) the brand name or intellectual property of another party without written consent.

You will not issue any press release or disseminate similar publicity respecting this Referral Program or the relationship between the parties including, without limitation, by means of the Internet, without the express prior written approval of Vola. You will not use any trademark, service mark, trade name, or other commercial symbol of Vola in any manner without prior written approval of Vola.

You agree that you will not defraud or abuse (or attempt to defraud or abuse) Vola.

You acknowledge that if you violate these Terms, you are ineligible to receive any Referral Fee.

10. SMS Messages

By accepting these Terms and providing your phone number, you expressly consent to receive SMS messages (including text messages) from us, our agents, representatives, affiliates or anyone messaging on our behalf at the specific number(s) you have provided to us, with service-related information or questions about the Services. You certify, warrant and represent that the telephone number you have provided to us is your contact number and not someone else's. You represent that you are permitted to receive SMS messages at the telephone number you have provided to us. If you change your phone number, you must promptly provide and verify your new telephone number. You are responsible for any third-party messaging or data fees you may be charged for sending or receiving SMS messages. To verify your telephone number, we may send you a code via text message to the telephone number you provide, and you must enter that code as instructed by us. To control receipt of these communications, text HELP for help or text STOP to cancel. You can do this in the Personal Information section of your Vola Account via the App. We will not send you promotional or marketing SMS messages without obtaining your separate, written consent, which is not required for you to use the Services.

11. Offers for Financial Products

We will use information about you and your Bank Account from the financial institution holding your Bank Account and other third-party websites and databases (“Financial Information”) to generate offers for financial products and services from our marketing partners that may interest you. It is always your choice whether or not to apply for an offered product or service and we will never submit an application for a financial product or service on your behalf without your express consent. We may receive compensation from our marketing partners for promoting their products and services through our Services. The technology we use to provide you with offers for financial products and services is proprietary and, in finding those offers for you, we may elect to consider, ignore, emphasize, or de-emphasize relevant factors at our sole discretion. We do not guarantee that you will be presented with offers for any particular types of products or services or that you will meet the approval criteria for any particular offer. Vola does not endorse, warrant or guarantee any third-party products or services available through the Services. While Vola works hard to verify the rates, terms, and rewards offered by any particular advertiser or third party, Vola does not guarantee that the rates, product terms, rewards, or other service terms provided by any particular advertiser or other third parties on the Services are actually the terms that may be offered to you if you pursue the offer, or that they are the best terms or lowest rates available in the market. Any offer is subject to the third parties’ review of your Financial Information. If you elect to use or purchase products or services from third parties, you are subject to their terms and conditions and privacy policy.

12. Third Party Account Verification Provider

Vola currently utilizes Braintree Payments Inc. (“Braintree”), a third-party technology company, to receive payments for our Subscription Fees. Braintree offers a secure method of transmitting your payments. For more information on Braintree, please seehttp://braintreepayments.com

Vola currently utilizes Dwolla Inc. (“Dwolla”), a third-party technology company, to electronically debit your Bank Account for Subscription Fees, if applicable, and Advance repayment. Dwolla offers a secure method of transmitting your payments. For more information on Dwolla, please seehttps://www.dwolla.com/legal/tos/

13. Feedback

We welcome and encourage feedback, comments, and suggestions for improvements to the Services (“Feedback”). You grant a non-exclusive, worldwide, perpetual, irrevocable, fully-paid, royalty-free, sublicensable, and transferable license under any and all intellectual property rights that you own or control to use, copy, modify, or create derivative works based upon and otherwise exploit the Feedback for any purpose. If we elect to use Feedback for marketing or advertising purposes, you acknowledge and agree that we may do so in any media format now known or hereafter developed without requiring your pre-approval and you are not entitled to any compensation for such use.

14. Content and Content Rights

For purposes of these Terms: (i) “Content” means text, graphics, images, music, software, audio, video, works of authorship of any kind, and information or other materials that are posted, generated, provided, or otherwise made available through the Services; and (ii) “User Content” means any Content that Vola Account holders (including you) provide to be made available through the Services. Content includes, without limitation User Content. User Content does not include Third Party Account Information.

15. Content Ownership, Responsibility and Removal

Vola does not claim any ownership rights in any User Content, and nothing in these Terms will be deemed to restrict any rights that you may have to use and exploit your User Content. Subject to the foregoing, Vola and its licensors exclusively own all rights, titles, and interests in and to the Services and Content, including all associated intellectual property rights. You acknowledge that the Services and Content are protected by copyright, trademark, and other laws of the United States and foreign countries. You agree not to remove, alter or obscure any copyright, trademark, service mark or other proprietary rights notices incorporated in or accompanying the Services or Content.

16. Rights in User Content Granted by You

By making any User Content available through Services, you hereby grant to Vola a non-exclusive, transferable, sublicensable, worldwide, royalty-free license to use, copy, modify, create derivative works based upon, distribute, publicly display, publicly perform and distribute your User Content in connection with operating and providing the Services and Content to you and to other Vola Account holders. You are solely responsible for all your User Content. You represent and warrant that you own all your User Content, or you have all rights that are necessary to grant us the license rights in your User Content under these Terms. You also represent and warrant that neither your User Content, nor your use and provision of your User Content to be made available through the Services, nor any use of your User Content by Vola on or through the Services will infringe, misappropriate, or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation. You can remove your User Content by specifically deleting it. However, in certain instances, some of your User Content (such as posts or comments you make) may not be completely removed and copies of your User Content may continue to exist on the Services. We are not responsible or liable for the removal or deletion of (or the failure to remove or delete) any of your User Content.

17. Rights in Content Granted by Vola

Subject to your compliance with these Terms, Vola grants you a limited, non-exclusive, non-transferable, non-sublicensable license to download, view, copy, display and print the Content solely in connection with your permitted use of the Services solely for your personal and non-commercial purposes.

18. Rights in App Granted by Vola

Subject to your compliance with these Terms, Vola grants you a limited, non-exclusive, non-transferable, non-sublicensable license to download and install a copy of the App on a mobile device or computer that you own or control and to run such copy of the App solely for your own personal non-commercial purposes. You may not copy the App, except for making a reasonable number of copies for backup or archival purposes. Except as expressly permitted in these Terms, you may not: (i) copy, modify or create derivative works based on the App; (ii) distribute, transfer, sublicense, lease, lend or rent the App to any third party; (iii) reverse engineer, decompile or disassemble the App; or (iv) make the functionality of the App available to multiple users through any means. Vola reserves all rights in and to the App not expressly granted to you under these Terms.

19. General Prohibitions and Vola’s Enforcement Rights

• Post, upload, publish, submit or transmit any Content that: (i) infringes, misappropriates or violates a third party’s patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (ii) violates, or encourages any conduct that would violate, any applicable law or regulation or would give rise to civil liability; (iii) is fraudulent, false, misleading or deceptive; (iv) is defamatory, obscene, pornographic, vulgar or offensive; (v) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (vi) is violent or threatening or promotes violence or actions that are threatening to any person or entity, or (vii) promotes illegal or harmful activities or substances.
• Use, display, mirror, or frame the Services or any individual element within the Services, Vola’s name, any Vola trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page, without Vola’s express written consent;
• Access, tamper with, or use non-public areas of the Services, Vola’s computer systems, or the technical delivery systems of Vola’s providers;
• Attempt to probe, scan or test the vulnerability of any Vola system or network or breach any security or authentication measures;
• Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by Vola or any of Vola’s providers or any other third party (including another user) to protect the Services or Content;
• Attempt to access or search the Services or Content or download Content from the Services through the use of any engine, software, tool, agent, device, or mechanism (including spiders, robots, crawlers, data mining tools, or the like) other than the software and/or search agents provided by Vola or other generally available third-party web browsers;
• Send any unsolicited or unauthorized advertising, promotional materials, email, junk mail, spam, chain letters, or other forms of solicitation;
• Use any meta tags or other hidden text or metadata utilizing a Vola trademark, logo URL, or product name without Vola’s express written consent;
• Use the Services or Content, or any portion thereof, for any commercial purpose or the benefit of any third party or in any manner not permitted by these Terms;
• Forge any TCP/IP packet header or any part of the header information in any email or newsgroup posting, or in any way use the Services or Content to send altered, deceptive, or false source-identifying information;
• Attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Services or Content;
• Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
• Collect or store any personally identifiable information from the Services from other users of the Services without their express permission;
• Impersonate or misrepresent your affiliation with any person or entity;
• Violate any applicable law or regulation or willingly violate, or attempt to violate, the terms of any program offered by Vola or Vola’s partners; or
• Encourage or enable any other individual to do any of the foregoing.

Although we are not under any obligation to monitor access to or use of the Services or Content or to review or edit any Content, we have the right to do so to operate the Services, to ensure compliance with these Terms, and to comply with applicable law or other legal requirements. We reserve the right but are not obligated, to remove or disable access to any Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider any Content to be objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law.

20. Links to Third Party Websites or Resources

The Services and App may contain links to third-party websites or resources. We provide these links only for convenience and are not responsible for the content, products, or services on or available from those websites or resources or links displayed on such websites. Vola does not warrant or guarantee the third-party products or services available through these links, all of which are subject to the respective third party’s terms of use or customer agreement. You acknowledge sole responsibility for and assume all risk arising from, your use of any third-party websites or resources.

21. Termination

We may terminate your access to and use of the Services, at our sole discretion, at any time and without notice to you. You may cancel your Account at any time by contacting us via the “Contact Support” link in the help center section of the App or by emailing hello@volafinance.com. Upon any termination, discontinuation or cancellation of the Services or your Account, the following provisions of these Terms will survive: “Feedback”, “Content and Content Rights”, “Content Ownership, Responsibility and Removal”, “Termination”, “Indemnity”, “Limitation of Liability”, “Dispute Resolution” and “General Terms”.

22. Warranty Disclaimers

THE SERVICES AND CONTENT ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, WE EXPLICITLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT OR NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness, or reliability of any Content. We make no warranty that you will not be charged an overdraft or insufficient funds fee in connection with obtaining Management Services or Advances. USE OF THE SERVICES, THE CONTENT, AND ANY INFORMATION OBTAINED THROUGH YOUR USE OF THE SERVICES IS AT YOUR OWN RISK. THE INFORMATION PROVIDED THROUGH THE SERVICES IS PROVIDED SOLELY FOR INFORMATIONAL PURPOSES. VOLA AND THE SERVICES ARE NOT ENDORSED BY OR AFFILIATED WITH THE FEDERAL DEPOSIT INSURANCE CORPORATION OR FINRA, AND VOLA IS NOT A BANK, CREDIT UNION, OR OTHER DEPOSITORY INSTITUTION. VOLA MAKES NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING THE RESULTS OR SAVINGS THAT MAY BE OBTAINED THROUGH THE USE OF THE SERVICES. BEFORE MAKING ANY FINANCIAL DECISIONS OR IMPLEMENTING ANY FINANCIAL STRATEGY, INCLUDING RECOMMENDATIONS OF THIRD PARTIES IDENTIFIED THROUGH THE SERVICES, VOLA RECOMMENDS THAT YOU OBTAIN ADDITIONAL INFORMATION AND ADVICE OF ACCOUNTANTS OR OTHER FINANCIAL ADVISORS WHO ARE FULLY AWARE OF YOUR INDIVIDUAL CIRCUMSTANCES. YOU ACKNOWLEDGE THAT VOLA IS SOLELY AN INTERMEDIARY BETWEEN YOU AND OUR MARKETING PARTNERS FOR WHOM WE DISPLAY OFFERS FOR FINANCIAL PRODUCTS AND SERVICES. VOLA MAKES NO WARRANTY THAT THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU THROUGH THE SERVICES WILL MEET YOUR EXPECTATIONS. VOLA EXPRESSLY DISCLAIMS ANY LIABILITY FOR ANY ERRORS OR OMISSIONS IN THE CONTENT OR THE SERVICES, INCLUDING, WITHOUT LIMITATION, THE INACCURACY OR INCOMPLETENESS OF ANY SAVINGS ESTIMA TES, APPROVAL ODDS, OR RELATED INFORMATION, AVAILABLE THROUGH THE SERVICES OR THE CONTENT; OR THE AVAILABILITY OR LEGALITY OF ANY OF THE OFFERS FROM OUR MARKETING PARTNERS.

23. Indemnity

You will indemnify and hold harmless Vola and its officers, directors, employee, and agents from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services or Content, (ii) your User Content, or (iii) your violation of these Terms or the Subscription Agreement.

24. Limitation of Liability

NEITHER VOLA NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES OR CONTENT WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES, INCLUDING LOST PROFITS, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE, OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT VOLA HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. TO THE EXTENT PERMITTED BY LAW, VOLA’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT SHALL NOT EXCEED ONE HUNDRED DOLLARS ($100). THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN VOLA AND YOU.

25. Dispute Resolution; Binding Arbitration

PLEASE READ THIS SECTION CAREFULLY AS IT AFFECTS YOUR RIGHTS. YOU ACKNOWLEDGE THAT YOU HAVE READ THIS PROVISION CAREFULLY AND UNDERSTAND THAT IT LIMITS YOUR RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND US. YOU UNDERSTAND THAT YOU HAVE THE RIGHT TO REJECT THIS PROVISION AS PROVIDED IN SECTION 25.2 BELOW.

25.1 Election to Arbitrate

You and Vola agree that the sole and exclusive forum and remedy for resolution of a Claim (defined hereinafter) be final and binding arbitration pursuant to this Section 25 (the “Arbitration Provision”), unless you opt out as provided in Section 25.2 below, or your Claim is subject to an explicit exception to in this Arbitration Provision. As used in this Arbitration Provision, “Claim” shall include any past, present, or future claim, dispute, or controversy involving you (or persons claiming through or connected with you), on the one hand, and us on the other hand, relating to or arising out of these Terms, and/or the activities or relationships that involve, lead to, or result from these Terms, including (except to the extent provided otherwise in the last sentence of Section 25.6 below) the validity or enforceability of this Arbitration Provision, any part thereof, or the entire set of Terms. Claims are subject to arbitration regardless of whether they arise from contract; tort (intentional or otherwise); a constitution, statute, common law, or principles of equity; or otherwise, except that both you and us retain the right: (a) to bring an individual action in small claims court (a “Small Claims Action”); or (b) to seek injunctive or other equitable relief in a court of competent jurisdiction to prevent the actual or threatened infringement, the misappropriation or violation of a party’s copyrights, trademarks, trade secrets, patents or other intellectual property rights (an “IP Protection Action”). Claims include matters arising as initial claims, counter‐claims, cross-claims, third-party claims, or otherwise. The scope of this Arbitration Provision is to be given the broadest possible interpretation that is enforceable.

25.2 Opt-Out of Arbitration Provision

You may opt out of this Arbitration Provision for all purposes by sending an arbitration opt out notice to corp@volafinance.com, within thirty (30) days of the date of your electronic acceptance of these Terms (such notice, an “Arbitration Opt-Out Notice”). The opt out notice must clearly state that you are rejecting arbitration; identify the date on which you agreed to these Terms; provide your name, address, and social security number; and be signed by you. If you do not provide us with an Arbitration Opt-Out Notice within the thirty (30) day period, you will be deemed to have knowingly and intentionally waived your right to litigate any Claim except with regard to a Small Claims Action or an IP Protection Action, as expressly set forth above.

25.3 Judicial Forum for Disputes

In the event that (i) you or we bring an IP Protection Action; (ii) you timely provide us with an Arbitration Opt-out Notice; or (iii) this “Dispute Resolution by Binding Arbitration” section is found not to apply, the exclusive jurisdiction and venue of any Claim will be the federal court in Kings County, New York and each of the parties hereto waives any objection to jurisdiction and venue in such courts. You and we both further agree to waive our right to a jury trial.

25.4. Informal Dispute Resolution.

f a Claim arises, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost effective means of resolving the dispute quickly. You agree that before filing any claim in arbitration, you will try to resolve the Claim informally by contacting us at corp@volafinance.com. Similarly, we will undertake reasonable efforts to contact you (if we have contact information for you) to resolve any claim we may possess informally before taking any formal action. If a Claim is not resolved within thirty (30) days after the email noting the Claim is sent, you or we may initiate an arbitration proceeding as described below.

25.5. WAIVER OF RIGHT TO LITIGATE.

Unless you timely provide us with an Arbitration Opt-out Notice, YOU ACKNOWLEDGE THAT YOU HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY, BUT WILL NOT HAVE THAT RIGHT IF ANY PARTY ELECTS ARBITRATION PURSUANT TO THIS ARBITRATION PROVISION. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY ANY PARTY.

25.6. NO CLASS ACTIONS.

You and Vola agree that the arbitration of any Claim shall proceed on an individual basis, and neither you nor we may bring a claim as a part of a class, group, collective, coordinated, consolidated or mass arbitration (each, a “Collective Arbitration”). Without limiting the generality of the foregoing, a claim to resolve any Claim against us will be deemed a Collective Arbitration if (a) two (2) or more similar claims for arbitration are filed concurrently by or on behalf of one or more claimants; and (b) counsel for the claimants are the same, share fees or coordinate across the arbitrations. “Concurrently” for purposes of this provision means that both arbitrations are pending (filed but not yet resolved) at the same time.

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU SHALL NOT BE ENTITLED TO CONSOLIDATE, JOIN OR COORDINATE CLAIMS BY OR AGAINST OTHER INDIVIDUALS OR ENTITIES, OR ARBITRATE OR LITIGATE ANY CLAIM IN A REPRESENTATIVE CAPACITY, INCLUDING AS A REPRESENTATIVE MEMBER OF A CLASS OR IN A PRIVATE ATTORNEY GENERAL CAPACITY. IN CONNECTION WITH ANY CLAIM (AS DEFINED ABOVE), ANY AND ALL SUCH RIGHTS ARE HEREBY EXPRESSLY AND UNCONDITIONALLY WAIVED. ANY CHALLENGE TO THE VALIDITY OF THIS SECTION 25.6 SHALL BE DETERMINED EXCLUSIVELY BY THE ARBITRATOR.

25.7. Arbitration Procedures.

The party initiating arbitration shall do so with Judicial Alternatives and Mediation Services (“JAMS”). Claims involving claims and counterclaims with an amount in controversy under $250,000, not inclusive of attorneys’ fees and interest, shall be subject to JAMS’ most current version of the Streamlined Arbitration Rules; all other Claims shall be subject to JAMS’s most current version of the Comprehensive Arbitration Rules and Procedures (the applicable rule set, the “JAMS Rules”). If you have any questions concerning JAMS or would like to obtain a copy of the JAMS Rules, you may call 1(800) 352-5267 or visit their web site at: www.jamsadr.com. In the case of a conflict between the JAMS Rules and this Arbitration Provision, this Arbitration Provision shall control, subject to countervailing law, unless all parties to the arbitration consent to have the JAMS Rules apply. A party who desires to initiate arbitration must provide the other party with a written Demand for Arbitration as specified in the JAMS Rules. Arbitration will proceed on an individual basis and will be handled by a sole arbitrator. The single arbitrator will be either a retired judge or an attorney licensed to practice law and will be selected by the parties from JAMS’ roster of arbitrators. If the parties are unable to agree upon an arbitrator within fourteen (14) days of delivery of the Demand for Arbitration, then JAMS will appoint the arbitrator in accordance with the JAMS Rules. The arbitrator(s) shall be authorized to award any remedies, including injunctive relief, that would be available to you in an individual lawsuit and that are not waivable under applicable law.

Notwithstanding any language to the contrary in this Section 25.7, if a party seeks injunctive relief that would significantly impact other Vola users as reasonably determined by either party, the parties agree that such arbitration will proceed on an individual basis but will be handled by a panel of three (3) arbitrators. Each party shall select one arbitrator, and the two party-selected arbitrators shall select the third, who shall serve as chair of the arbitral panel. That chairperson shall be a retired judge or an attorney licensed to practice law and with experience arbitrating or mediating disputes. In the event of disagreement as to whether the threshold for a three-arbitrator panel has been met, the sole arbitrator appointed in accordance with this Section 25.7 shall make that determination. If the arbitrator determines a three-person panel is appropriate, the arbitrator may, if selected by either party or as the chair by the two party-selected arbitrators, participate in the arbitral panel. Except as and to the extent as otherwise may be required by law, the arbitration proceeding and any award shall be confidential. This Arbitration Provision shall be construed under and be subject to the Federal Arbitration Act, notwithstanding any other choice of law set out in these Terms.

25.8. Arbitration Location.

Unless you and Vola otherwise agree, the arbitration will be conducted in New York County, New York, or if you so elect, all proceedings can be conducted via videoconference, telephonically or via other remote electronic means. If your claim does not exceed $10,000, then the arbitration will be conducted solely on the basis of the documents that you and Vola submit to the arbitrator, unless the arbitrator determines that a videoconference, telephonic or in-person hearing is necessary. If your claim exceeds $10,000, your right to a hearing will be determined by the JAMS Rules. Subject to such rules, the arbitrator will have the discretion to direct a reasonable exchange of information by the parties, consistent with the expedited nature of the arbitration.

25.9. Arbitration Fees.

If we elect arbitration, we shall pay all the administrator's filing costs and administrative fees (other than hearing fees). If you elect arbitration, filing costs and administrative fees (other than hearing fees) shall be paid in accordance with the rules of the administrator selected, or in accordance with countervailing law if contrary to the administrator's rules. However, if the value of the relief sought is $5,000 or less, at your request, we will pay all filing, administration, and arbitrator fees associated with the arbitration, unless the arbitrator finds that either the substance of your claim or the relief sought was frivolous or was brought for an improper purpose (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)). In such circumstances, fees will be determined in accordance with the administrator rules. Each party shall bear the expense of its own attorneys' fees, except as otherwise provided by law.

25.10. Arbitrator’s Decision.

The arbitrator will render an award within the time frame specified in the administrator rules. The arbitrator’s decision will include the essential findings and conclusions upon which the arbitrator based the award. Judgment on the arbitration award may be entered in any court having jurisdiction thereof.

25.11. Survival and Severability of Arbitration Provisions.

This Arbitration Provision shall survive the termination of these Terms. With the exception of Section 25.6 (“No Class Actions”), if a court decides that any part of this Arbitration Provision is invalid or unenforceable, then the remaining portions of this Arbitration Provision shall nevertheless remain valid and in force. In the event that a court finds that all or any portion of Section 25.6 (“No Class Actions”) to be invalid or unenforceable, then the entirety of this Arbitration Provision shall be deemed void and any remaining Claim must be litigated in court pursuant to Section 25.4.

25.12. Changes.

Notwithstanding the provisions Section 2 (“Modification to Terms”), if we change this Section 25 after the date you first accepted these Terms (or accepted any subsequent changes to these Terms), you may reject any such change by sending us written notice (including by email to hello@volafinance.com) within thirty (30) days of the date such change became effective, as indicated in the “Last revised” date above or in the date of our email to you notifying you of such change. By rejecting any change, you are agreeing that you will arbitrate any Claim between you and Vola in accordance with the provisions of this Section 25 as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms).

26. ELECTRONIC FUND TRANSFER DISCLOSURE STATEMENT

The following disclosures are made by federal law regarding electronic funds transfers.

26.1. Definitions.

Electronic Fund Transfer: Any transfer of funds initiated through an electronic device or computer to instruct us to debit or credit a Bank Account or debit card. Electronic Fund Transfers include such electronic transactions transfers initiated via telephone, website, or mobile application.

Preauthorized Electronic Fund Transfer: An Electronic Fund Transfer that you have authorized in advance to recur at substantially regular intervals; for example, withdrawal of funds out of your Bank Account to pay the Subscription Fee

Unauthorized Electronic Fund Transfer is an Electronic Fund Transfer initiated by a person other than you who does not have actual, implied, or apparent authority to initiate the transfer, and from which you do not benefit. If you give access to your Vola Account to another person, all payments by that person are authorized unless and until you notify us that payments by that person are no longer authorized

26.2. Your Liability.

Authorized Transfers: You are liable for all Electronic Fund Transfers you authorize, whether directly or indirectly through the Services.

Unauthorized Transfers: Tell us at once if you believe your Login ID or password has been lost or stolen or if your Vola Account has been, or may have been, subject to Unauthorized Electronic Fund Transfers. Contact us immediately to keep your possible losses to a minimum. You could lose all the money in your Bank Account(s). If you tell us within four (4) business days after learning of the loss or theft of your Login ID or password for your Vola Account or after learning of any other Unauthorized Electronic Fund Transfers associated with your Vola Account, you can lose no more than $50. However, if you DO NOT tell us within four (4) business days after learning of the loss, theft, or unauthorized use associated with your Vola Account, and we can establish that we could have prevented the Unauthorized Electronic Fund Transfer(s) if you had told us in time, you could lose as much as $500.

If your periodic account statement issued by your bank or financial institution shows Unauthorized Electronic Fund Transfers, and you DO NOT tell us within ninety (90) days after the statement was delivered to you. In that case, you may not get back any money you lose after the ninety (90) day period if we can prove that we could have prevented the unauthorized transfer(s) if you had told us in time. If an extenuating circumstance (such as extended travel or hospitalization) prevents you from promptly notifying us of a suspected lost or stolen Login ID or password or of any other suspected Unauthorized Electronic Fund Transfers(s), the time periods specified herein may be extended for a reasonable period.

In order to contact us in the event of an Unauthorized Electronic Fund Transfer, or if you believe your Login ID or password has been lost or stolen, please Email us at hello@volafinance.com.

26.3. Business Days.

For purposes of this Section 26, Vola business days are Monday through Friday. Holidays are not included.

26.4. Types of Transfers; Limitations.

You may use the Services to request and receive Advances to your Bank Account or a debit card, repay such Advances in the amounts, and pay the monthly Subscription Fee. Through the Services, you may also authorize recurring preauthorized Electronic Fund Transfers from your Bank Account or debit card to pay for the Subscription Fee. Any limitations regarding the Advance amount or Subscription Fee amount will be displayed to you through the Services.

26.5. Fees.

Except for the Subscription Fee charged in connection with a Premium Membership, Vola will not charge any fees in connection with an Electronic Fund Transfer. However, your bank may charge certain fees in connection with Electronic Fund Transfers.

26.6. Documentation.

We will email a confirmation receipt to you for each Electronic Fund Transfer made through the Services. In addition, periodic statements of your Vola payment history can be viewed within the Vola app by navigating to the “Account Settings” page and tapping “Account” or “Advances,” depending on the type of transactions you seek to view. You are responsible for reviewing your receipts and payment history and maintaining copies for your records.

26.7. Stop Payment.

You may stop payment of a preauthorized Electronic Fund Transfer by notifying us orally or in writing at least three (3) business days before the scheduled date of transfer. We may require you to give written confirmation of a stop-payment order within fourteen (14) days of an oral notification at corp@volafinance.com. An oral stop-payment order ceases to be binding after fourteen (14) days if you fail to provide the requested written confirmation.

26.8. Our Liability.

We are liable to you for all damages proximately caused by (a) our failure to make an Electronic Fund Transfer, in accordance with these Terms, in the correct amount or in a timely manner when properly instructed by you to do so except where (I) your Bank Account has insufficient funds; (II) the funds are subject to legal process or other encumbrance restricting transfer; (III) such transfer would exceed an established credit limit; (IV) an electronic terminal has insufficient cash to complete the transaction; or (V) as otherwise provided in regulations of the Consumer Financial Protection Bureau; (b) our failure to make an Electronic Fund Transfer due to insufficient funds when we failed to credit, in accordance with these Terms, a deposit of funds to your Bank Account which would have provided sufficient funds to make the transfer; and (c) our failure to stop payment of a preauthorized transfer from your Bank Account when instructed to do so in accordance with these Terms.

26.9. Confidentiality.

As noted above, we may share certain Vola Account information and Financial Information with various third-party product partners that provide financial products or services in order for us to generate offers for products or services that may be of interest to you.

26.10. Error Resolution

In case of errors or questions about your Electronic Fund Transfers, email us at corp@volafinance.com as soon as you can, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. We must hear from you no later than [sixty (60) days] after we sent the FIRST statement on which the problem or error appeared. In such notice to us, (1) tell us your name and Vola Account number (if any); (2) describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information; and (3) tell us the dollar amount of the suspected error. If you tell us orally, we may require that you send us your complaint or question in writing within ten (10) business days. We will determine whether an error occurred within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your Bank Account within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within ten (10) business days, we may not credit your Bank Account. For errors involving new Vola Accounts we may take up to ninety (90) days to investigate your complaint or question. For new Vola Accounts, we may take up to twenty (20) business days to credit your Bank Account for the amount you think is in error. We will tell you the results within three (3) business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

Miscellaneous

27. Governing Law and Venue

These Terms shall be governed by, and all Disputes shall be resolved in accordance with the laws of the State of New York, without regard to its conflicts of law rules. Judicial proceedings (other than small claims actions) that are excluded from the agreement to arbitrate above must be brought in state or federal court in Kings County, New York. You hereby consent to venue and personal jurisdiction in Kings County, New York. You hereby waive any right to a trial by jury

28. Severability

Except as set forth in Section 25.11, if any portion of these Terms is deemed unlawful, void, or unenforceable by any arbitrator or court of competent jurisdiction, these Terms’ remaining provisions shall be enforced to the fullest extent possible, and the remaining provisions of the Terms shall remain in full force and effect.

29. Entire Agreement

These Terms represent the entire understanding and agreement between you and Vola regarding the subject matter of the same and supersede all other previous agreements.

30. Assignment

Vola may assign its rights or obligations according to these Terms. You may not assign any rights hereunder without our prior written consent. Nothing contained in these Terms shall be construed to limit the actions or remedies available to Vola with respect to any prohibited activity or conduct.

31. Waiver

Non-enforcement of any term of these Terms does not constitute consent or waiver, and Vola reserves the right to enforce such term at its sole discretion. Vola’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effective only if in writing and signed by a duly authorized representative of Vola. Except as expressly outlined in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.

32. No Joint Venture

No joint venture, partnership, employment, or agency relationship exists between you and Vola as a result of these Terms or your use of the Site or the Service.