General Terms & Conditions

This Agreement, along with all related account opening documents we give you pertaining to your Account, is a contract that establishes the rules that govern your Account with us. In the event there is a conflict between the documents you receive when you open your Account, this Agreement will govern. This Agreement also contains a schedule of fees for services that may be available to you.

This Agreement covers any account opened through us that you may have with us now, or in the future, and that is used primarily for business purposes. Your Account is not designed for personal use, and we may close the Account if we determine it is being used for personal purposes.

We give you this Agreement when you open your account. When you complete your account opening documents, including your signature card, you acknowledge that you have reviewed and understand the terms of this Agreement and you agree to be governed by these terms. This Agreement and relationship do not create a fiduciary, quasi-fiduciary or special relationship between us regardless of how you title your account. We owe you only a duty of ordinary care.

We may change this Agreement at any time. We may add new terms, delete or amend existing terms, add new accounts and services, discontinue existing accounts or services, or convert existing accounts and services into new accounts and services.

We will ordinarily send you advance notice of any change to this Agreement via your email on file with us. However, we may make changes without prior notice unless prohibited by law. When we change this Agreement, the new Agreement as amended supersedes all prior Agreements unless otherwise specified.

By continuing to use your account or keeping your account open, you agree to all changes made to this Agreement.

We will request information from you when you open your account. We enter all information you provide us into our records and will rely on that information unless you notify us of a change. Federal law requires us to obtain, verify, and record information that identifies each customer.

When you apply for an account, we will request your legal entity or individual name, address, date of birth if applicable, and your tax identification number. We will require information related to the controlling manager and/or equity owners of your business. We will also require an unexpired photo identification for each controlling manager, controlling member, or other large equity owner of a business as determined at our discretion. You give us permission to validate all information you provide us with third-party investigation services, which may include consumer reports or other reports from account information services and consumer reporting agencies.

Each person signing the signature card or other account opening agreements on behalf of a corporation, unincorporated association, limited liability company, limited liability partnership, fiduciary, partnership, sole proprietorship, or other entity holding the account, represents and agrees that they are fully authorized to execute all documents on behalf of the entity and will furnish any other documents that we may request from time to time.

We may provide information about you or your account without advanced warning to consumer reporting agencies; anyone who we reasonably believe is conducting a legitimate credit inquiry; in response to any subpoenas, summons, court order, administrative order, or legal process which in our reasonable belief requires our compliance; or in compliance with any regulatory body or agency.

When you give your telephone number to us, or place a call to us, you authorize us to place calls to you at that number, including calls that may use automatic dialers, SMS messages, or prerecorded messages. You authorize us to record and monitor any and all telephone conversations and electronic communications with you for security or quality inspection purposes.

By providing your mobile phone number to SkyFi, you expressly consent and authorize SkyFi, its affiliates, and its third-party service providers to send you text (SMS) messages for any purpose related to your account. This includes, but is not limited to, account servicing updates, transactional alerts, security or fraud notifications, support-related messages, and other operational and account-related communications.

Text messages may be sent using an automatic telephone dialing system and may be sent from a short code or standard phone number. Message frequency may vary. Standard message and data rates may apply. You may opt out of receiving SMS messages at any time by replying "STOP" to any message you receive. For assistance, reply "HELP" or contact SkyFi at (844) 711-7467 or support@skyfichecking.com.

Consent to receive SMS messages is not a condition of opening or maintaining an account with SkyFi. However, declining or revoking consent may impact your ability to receive certain important information about your account.

Your account is for your own use only. You may not transfer or assign any of your rights to or in the account.

We may cancel or suspend your Account or this Agreement at any time. You may cancel this Agreement by emailing support@skyfichecking.com to close your Account. We can require you to give us seven days advance notice before closing your account. Your cancellation of this Agreement will not affect any of our rights or your obligations arising under this Agreement prior to cancellation.

If your Account is canceled, closed or terminated for any reason, you may request the balance to be returned to a linked external account. You agree it could take fourteen (14) days or longer for processing of such balance return. If your account is canceled, closed, or terminated by us, we will be responsible for sending you prior notice in accordance with applicable law.

If your Account is overdrawn when closed, you agree to immediately pay any amounts you owe us. If your Account had funds in it when closed, we may hold some or all the funds for up to sixty (60) days to pay any outstanding or expected claims before returning the remaining funds to you at the primary address specified on your account.

This Agreement continues to govern matters related to your account even after the account closes. Sometimes after an account is closed, we receive a deposit for credit to the account or a check or other item for payment from the account. We may honor any of these requests in our discretion, including by reopening the account, even if this results in an overdraft on the account.

We may, in our sole discretion and without notice to you, to the extent permissible under applicable law, decline, delay, cancel, and/or reverse your orders, transactions or instructions, and/or disbursement and other restrictions on any of your accounts.

You may open multiple sub-accounts within your business account, each with a unique account number. You may make free and instant transfers to other accounts within our network. Our ACH program offers same-day ACH for both outgoing and incoming transfers.

Posting transactions to your account impacts your account balance. Posting a credit increases your balance, while posting a debit or hold decreases your balance. Holds may include deposit holds and authorization holds for transactions we have authorized but have not yet posted, such as cash withdrawals and ACH transfers. You agree that we may determine at our discretion the order in which we post transactions to your account.

By opening this Account, you authorize SkyFi to debit or credit your linked bank account via ACH, including the authority to adjust any entries made in error. You represent and warrant that the linked bank account belongs to you and that you are authorized to grant this access. This authority remains in effect until your SkyFi account is terminated, you update your payment preferences, or we receive written notice of cancellation with sufficient time for SkyFi to act on it.

ACH transactions are processed in accordance with applicable NACHA rules and the processing protocols described in the ACH Processing Schedule section below.

We process ACH payments three times per day, with cutoff periods of fifteen minutes before each of the daily Federal Reserve processing cutoff times. ACH and other transfers can only be made on a business day. If a scheduled transfer falls on a weekend or bank holiday, we cannot guarantee your transfer will process or clear on the same day. If we are unable to complete an ACH transfer because you do not have enough funds in your account, we reserve the right to cancel this service.

Transaction limits are determined by your Platform Tier. Higher tiers unlock elevated ACH and wire limits. SkyFi reserves the right to modify limits at any time for the purpose of risk management and may set limits lower than standard for new customers. Customers may contact SkyFi support to request a limit increase, which will be considered on a case-by-case basis and may require enhanced due diligence.

Transaction limits apply to transactions initiated via SkyFi. Transactions initiated at external financial institutions, such as sending an ACH or wire from an external bank to Program, do not count against these limits. New accounts may be subject to lower incoming funds limits for the first sixty days pending additional verification.

You agree to pay for our services in accordance with the fees that apply to your account as stated in this section. SkyFi may choose to waive fees at our sole discretion.

If there are not enough funds in your account to cover the amounts you owe, the Bank may overdraw your account or debit fees from any account you hold with us as permitted by law. Some government payments may be protected from garnishment under state or federal law. To the extent you may do so by contract, you waive these protections and agree that we may use these funds to pay fees, overdrafts, and other amounts you owe us under this Agreement.

This section outlines important disclosures, limitations, and terms related to your use of the SkyFi-issued business debit card. These apply to both physical and virtual cards issued as part of your SkyFi Business Checking Account.

You may not assign your account or obligations under this Agreement. However, we may transfer our rights herein. Your Account is primarily governed by the federal laws and, to the extent legally permissible, by the regulatory laws of Florida. If Florida's laws cannot be legally applied due to a federal statute or regulation, the regulatory laws of the state where your account was opened will prevail. This Agreement, wherever possible, shall be interpreted in accordance with Florida law, excluding any conflict of laws principles.

If you or we excuse each other from complying with any part of this Agreement, this will not waive compliance by the excused party on any other occasion. Excusing you from performance under this Agreement must be in writing. If any provision of this Agreement is determined to be invalid, illegal, or unenforceable for any reason, that provision shall not invalidate or render unenforceable any other provision of this Agreement.

We may delay or waive our right to enforce this Agreement without losing that right in the future. If we waive any part of this agreement, the waiver only applies to the specific instance and not to future instances no matter how similar those instances may be.

For any deposit accounts you open, the FDIC requires the Program to disclose, and you hereby acknowledge, that deposits held by the Bank are insured up to a $250,000 federal deposit insurance limit per depositor for each ownership category. By accepting this Agreement, you acknowledge that the Bank will not be liable to you for taking action for the purpose of compliance with any applicable law or regulation.

In the event of a bank failure, you agree to cooperate fully with us, the Bank, and the FDIC in determining the insured status of funds in your account. You agree to provide the FDIC with requested information promptly. You understand and agree that if you do not provide necessary timely information to the FDIC, it could result in delay of receipt of your insured funds and also result in legal claims against you from any beneficial owners of funds in your account.

You shall indemnify and defend us and our officers, directors, employees, agents, attorneys, and representatives, and hold each of them harmless, against any suit, judgment, claim, demand, liability, or losses, including fees of counsel, interest and other expenses, arising directly or indirectly from your breach of your obligations under this Agreement or from the instructions or actions of you or of third parties whom you have permitted to act in connection with your Account.

The parties shall cooperate for the cost-effective defense of any claim, and we shall not settle any claim for which indemnification is demanded without your consent.

From time to time, services related to the Program website, the mobile application, or the account may be inoperative. You agree that we will not be responsible for temporary interruptions in service due to maintenance, website changes, or failures; nor shall we be liable for extended interruptions due to failures beyond our reasonable control, including but not limited to the failure of interconnecting and operating systems, computer viruses, forces of nature, labor disputes, or armed conflicts.

A hold impacts the amount of available funds in your account. When we determine that some or all funds in your account are subject to a hold, dispute, or other legal process, those funds are not available to cover your checks or other items. If a hold is placed on your account, subsequent authorization requests, such as a card transaction, may be declined if your account does not have sufficient funds available.

Debit card transactions are paid when a merchant presents them to the Bank for payment. If a hold expires and the transaction corresponding to that hold has not been paid, the amount being held is returned to your available funds. We do not promise to show holds or distinguish between unavailable or available funds on your account statements.

The Account is available to individuals who are citizens, permanent residents, or non-permanent resident aliens in the United States on a valid long-term visa, at least 18 years of age, with a valid Social Security Number or Tax Identification Number, and authorized to make transactions on behalf of the business which is registered with Program. All deposits and withdrawals must be in U.S. dollars only.

You must agree to accept electronic, rather than paper statements. This means you must keep us supplied with your valid email address and agree to accept electronic delivery of all account communications, including end-of-year tax forms and electronic statements. If you withdraw your consent, we may close your Account.

Your statements are available electronically. We provide you with a single statement for each account for each month the account is operational. Statement cycles generally vary from 28 to 33 days per cycle. When there is no activity on your account, we may choose not to provide a statement.

You agree to notify us immediately in writing of any change in your name, address, email address, business capacity, or the authorized signers on your account. We may require a new signature card or other documentation before giving effect to any change in ownership or authorized signers. We rely on our account records to determine the ownership of your account.

If the authorized persons on your account change, we may continue to honor items and instructions given earlier by any previously authorized person(s) until we receive specific notice from an authorized person in writing not to do so. There may be a delay in implementing a change, and you agree that we will be given a reasonable opportunity to make the necessary changes.

You agree to review promptly all notices and other communications we send you. We will provide notices to you electronically at your last known electronic address. If a notice we send you is returned to us as undeliverable, you agree that these notices are still effective and binding on you. You agree to notify us if you change your address; even if you don't, all notices from us are effective and binding if we send them to the last address we have on file.

You must exercise reasonable control over your statements, debit, prepaid and ATM cards, personal identification numbers, and other bank information. You must promptly report if any of them are missing in time to prevent misuse.

You must call us at (844) 711-7467 or email support@skyfichecking.com immediately if you believe your account number was stolen or if you believe someone has transferred or may transfer money from your Account without permission.

If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with us in the investigation of the loss, including giving us an affidavit containing whatever reasonable information we require. You will notify law enforcement authorities of any criminal act related to the claim. We will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss.

You agree to review and reconcile your account statements as soon as they are made available to you. You agree that sixty (60) days after we send a statement is the maximum reasonable amount of time for you to review your statement and report any problem or unauthorized transaction. If you fail to report suspected problems within 60 days, you may not make a claim against us regarding the unreported problems regardless of the care we may have exercised.

You agree to reimburse us for all costs, claims, losses, or damages (including attorney and other fees) we may incur with respect to overdrafts or returned deposits in connection with your account.

We are not liable to you for errors that do not result in a financial loss to you. We are not liable to you for any claim, loss, fee, expense, damage, or cost caused by an event beyond our reasonable control, including natural disasters, emergency conditions, labor disputes, legal constraints, equipment failure, or your own act, omission, negligence, or fault. Except as required by applicable law, we are not liable for special, incidental, exemplary, punitive, or consequential damages or losses of any kind.

Our liability for any claim will be limited to the face value of an item or transaction improperly dishonored or paid or the actual value of any deposits not properly credited or withdrawals not properly debited. Any loss you recover from third parties on a particular claim will reduce the amount of any obligation we may have to you on that claim.

You agree to comply with all applicable laws and regulations. You may not use your account or related services for illegal activity or transactions. You may not use your account for activity prohibited by the Unlawful Internet Gambling Enforcement Act (31 U.S.C. §5361 et seq.). You agree to comply with United States economic sanctions laws and regulations, including regulations issued by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury.

If you have authorized someone else to debit your account through the ACH system, you can stop these payments by contacting (844) 711-7467 or emailing support@skyfichecking.com at least 3 business days in advance. We may require you to confirm your stop payment request in writing. To place a stop payment order on an ACH debit, we require your name, account number, and the exact company name used by the sender of the ACH debit.

You agree to immediately notify the payee that you have withdrawn your authorization for any pre-authorized or recurring transaction.

We may take or setoff any funds in any of your accounts with us for any obligations that you owe us regardless of the source of funds in your account unless prohibited by law. Our setoff rights are in addition to any other rights we have to take or charge against funds in your account. This right to setoff applies to all direct, indirect, and acquired obligations you owe us.

"Legal Process" includes a writ of attachment, garnishment, execution, tax withholding order, levy, restraining order, subpoena, warrant, injunction, government agency request for information, search warrant, forfeiture, or any similar order. If we receive any document that appears to be a legal process issued out of any court or government agency, you acknowledge and agree that we will comply with or object to such process as we determine in our sole and absolute discretion.

We may charge your account the appropriate costs and fees associated with responding to legal process, including expenses for legal research, private investigation, copying of documents, and attorney's fees. We may deduct these fees from any account you hold with us without prior notice.

State and federal law will determine when and if your account is considered abandoned. If considered abandoned, your account will be dealt with in accordance with applicable state or federal law and funds may be removed from your account.

For any claims related to or arising out of this Agreement, you agree that, to the extent permitted by law, any suit, action, or legal proceeding arising out of or relating to this Agreement, when such claims are based on state law, shall be exclusively instituted in the state court situated in and for Brevard County, Florida. You hereby waive any objection to the laying of venue of any such suit, action, or proceeding.

You agree that, to the extent permitted by law, any suit, action, or legal proceeding arising out of or relating to this Agreement, when such claims are based on federal law, shall be exclusively instituted in the United States District Court for the Middle District of Florida, Orlando Division.