It is our goal to provide you with as many digital banking options as possible, including providing information to you electronically. Where we are required by law to provide you with information in writing, we may satisfy that requirement by providing that information to you electronically with your consent. The Accounts and the Services are designed for business customers who choose to communicate with us electronically. Your consent to receive Communications electronically is a condition of opening and maintaining an Account and of using the Services, the Payment Methods and any Card.
In this Agreement:
As part of your relationship with us, we will provide you with Communications. By accepting this Agreement, you consent to receive Communications in electronic form for any products, services and accounts that you have or apply for, either now or in the future. You also consent to the use of electronic signatures in your relationship with us.
We may still choose to provide you with information on paper even though you have consented to receive it electronically. In some cases, we are not permitted by law to deliver certain Communications to you electronically. However, if applicable law permits additional categories of Communications to be delivered electronically, we may update this Agreement and provide notice to you. We will obtain any additional consent required by applicable law.
When we deliver electronic Communications to you, we will either: (1) email them to you; (2) post them on our website; (3) present them on-screen or for download through one of our online or mobile banking services; (4) include them in other electronic Communications that we are delivering to you, such as electronic account statements; or (5) in the manner specified in any other agreement we have with you. If we are not emailing or presenting the information to you directly, we will tell you where you can go to view that information.
If you seek to obtain a new product, service or account with us, we may remind you that you have already consented to receiving electronic Communications and using electronic signatures in your relationship with us. If you choose not to receive electronic Communications or use electronic signatures in connection with the new product, service or account, that choice does not mean you have withdrawn your consent with respect to any other product, service or account.
To receive and retain electronic Communications from us, you will need the following:
If our hardware and software requirements change, and that change would create a material risk that you would not be able to access or retain electronic Communications, we will give you notice of the change. Continuing to use our electronic services after receiving notice of updates to our system requirements signifies your acceptance of the change and reaffirmation of your consent.
It is your responsibility to keep all of your contact information current so that we can send you electronic Communications. You can update your email address and other contact information by editing your profile in the Loop dashboard. You may also contact us at support@bankonloop.com.
We may, in our sole discretion, make paper copies of certain electronic Communications available upon request, subject to any applicable fees. You can request paper account statements via email to statements@bankonloop.com. Requesting or receiving a paper copy of a Communication is not a withdrawal of your consent to receive Communications electronically, and does not change the manner in which we deliver Communications to you.
You may withdraw your consent to receive Communications electronically at any time by notifying us in writing at support@bankonloop.com. Because consent to receive Communications electronically is required to maintain and use an Account, the Services, any Payment Method or any Card, withdrawing consent will be treated as a request to close your Account and terminate your relationship with us in accordance with the Platform Agreement. We will confirm receipt of your request and advise you of the effective date of the withdrawal and the last date you will be able to make deposits, withdrawals, transfers and payments to and from your Account.
Your withdrawal of consent, and any resulting closure of your Account, will take effect only once each of the following has occurred: (i) we have received payment in full of all amounts owing to us and all of your obligations to us have been satisfied; (ii) all transactions that have been authorized but not yet settled have settled and been paid; and (iii) we have had a reasonable opportunity to act upon your request. Until your withdrawal takes effect, your Account remains open, this Agreement remains in effect, and we will continue to provide Communications to you electronically. You must continue to maintain a valid, active email address and to monitor Communications we send you electronically until your withdrawal takes effect.
Once your withdrawal of consent has taken effect, any further Communications that are required by law to be in writing will be delivered to you on paper at the most recent address we have on file for you, subject to applicable fees.
Withdrawing your consent does not affect the legal validity or enforceability of any Communication we provided to you electronically before your withdrawal took effect, and does not relieve you of any obligation owing to us.
Your consent to receive Communications electronically is given in respect of the Account as a whole and applies to the business that holds the Account and to each account owner, authorized signer, authorized representative, delegate, Administrator, User, Cardholder and guarantor in respect of that Account. Only the business that holds the Account may withdraw that consent, and only in accordance with this section. An individual account owner, authorized signer, authorized representative, delegate, Administrator, User, Cardholder or guarantor cannot withdraw consent in respect of the Account, whether in that capacity or in a personal capacity.
This Agreement is to be read together with the Loop Platform Agreement and any Supplementary Agreements that apply to your Account. If there is any inconsistency concerning electronic delivery or the withdrawal of consent, this Agreement governs. The Platform Agreement governs the operational consequences of withdrawal, including the suspension or closure of the Account and the survival of outstanding obligations.
