Terms and Conditions

Welcome to Elevate Pay, a platform provided by Bloom Financial Technologies Inc. (“Elevate Pay,” “we,” “our,” or “us”). These Terms and Conditions (“Agreement”) govern your use of Elevate Pay’s technology platform and related services.

Elevate Pay is a financial technology platform that enables individuals and businesses to access a range of financial products and services via regulated banking service providers. Elevate Pay is not a bank. Deposit accounts, payment services, and other financial offerings accessible via the Elevate Pay platform are provided by third-party financial institutions (collectively, “Banking Service Providers”).

Scope and Acceptance

By using Elevate Pay’s services, you confirm that:

You have read and understand these Terms;
You are eligible to open an account as described below;
You agree to comply with all applicable laws and regulations.

If you do not agree to these Terms, you may not access or use the Elevate Pay platform.

These Terms apply to all services offered through Elevate Pay, including access to:

Deposit accounts
Virtual debit cards (if offered)
Funds transfers and international payments
Business account features such as KYB onboarding and commercial payments

Eligibility

Consumer Accounts: You must be at least 18 years old and legally capable of entering into contracts.
Business Accounts: Available to legally registered business entities, including sole proprietorships, LLCs, and corporations, in good standing in the United States. You must designate a control person and provide beneficial ownership details in accordance with applicable regulations.

We reserve the right to decline or terminate access to our platform if eligibility criteria are not met.

Regulatory Compliance

US Patriot Act Notice

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. This notice is provided to comply with the USA PATRIOT Act.

What this means:

For individuals, we will collect your full name, date of birth, address, and government-issued ID.

For businesses, we will collect legal business name, EIN, business address, control person ID, and beneficial ownership details, along with supporting documentation such as articles of incorporation, operating agreements, or licenses.

Services Overview

Elevate Pay is a technology platform that facilitates access to a range of financial services, including USD deposit accounts, debit card services, and other financial offerings, provided by our licensed financial partners (“banking service providers”). Through the platform, users can manage their account balances, initiate fund transfers, and adjust account settings.

Elevate Pay carries the authority to accept or refuse any customer request to transmit, receive, send, or withdraw money from your Elevate Pay Account at any time. We reserve the right to reject or limit payments at our sole discretion. Reasons for refusal may include, but are not limited to, insufficient balance, incorrect recipient details, compliance with anti-money laundering and counter-terrorist financing regulations, or Elevate Pay’s risk tolerance. When rejecting a payment, Elevate Pay will generally attempt to contact you with the reason (where possible) and whether it can be corrected. However, Elevate Pay will not notify you of the reason if it is not lawful.

In certain instances, you may be asked to provide evidence of the source of funds to meet our regulatory requirements. You agree to provide such evidence promptly and warrant that it is up to date, complete, and accurate.

While Elevate Pay enables access to these services, the deposit accounts and debit cards are governed by the sponsor bank’s agreements, which outline conditions such as account usage, limits, and fees. Additional services offered by third-party providers are subject to their respective terms and conditions. Elevate Pay acts solely as the facilitator, while the sponsor bank and third-party providers manage the banking services and other offerings.

Deposit Accounts and Transfers

Deposit accounts are made available through our banking service providers. Your use of such accounts is subject to their respective Deposit Account Agreements, which will be made available in your account dashboard or upon request.

International Transfers with Third- Party Partners

Elevate Pay may facilitate international transfers to bank accounts and wallets through third-party partners. Since these partners handle various stages of the international transfer process, we cannot be responsible for every aspect of the transfer. Therefore, we cannot guarantee that an international transfer will always be completed successfully.

If we learn that an international transfer has been rejected or significantly delayed, we will make efforts to help you recover the funds. If the transfer fails due to an issue entirely within our control, we will refund the full amount to your account. However, if the failure is due to factors beyond our control, the funds might need to be converted to your account’s currency before they can be returned, which could result in receiving less than the original amount paid. If you provide incorrect payee information, we will attempt to help recover the funds but may charge a fee for this service. We cannot guarantee that we will be able to return the funds.

Elevate Pay may work with multiple third-party partners for international transfers, and we reserve the right to choose the partner for each transfer at our discretion.

Exchange Rates are determined by our partners and may include a markup. Rates are subject to change at any time prior to transaction confirmation.

Please note that the exchange rate shown when you initiate the transfer and before you confirm it is not guaranteed. Changes in the exchange rate by the third-party provider between your confirmation and the execution of the transaction may lead to a canceled payment.

Account Responsibilities

Identity and Business Verification

By using Elevate Pay, you authorize us to verify your identity or business entity through third-party services or databases.

For business accounts, this includes Know Your Business (KYB) verification, control person identification, beneficial ownership disclosure, and relevant documentation.

Account Security

You are responsible for keeping your account credentials secure. You agree to notify Elevate Pay immediately of any suspected unauthorized access. Use of two-factor authentication (2FA) is strongly recommended.

We may suspend access if we detect suspicious activity or security issues.

Availability

We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted. We have the right to suspend, withdraw, discontinue or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable (in whole or in part) at any time or for any period. You are responsible for making all arrangements necessary for you to have access to the Services (including all hardware and telecommunications services).

Transactions and Fees

Transaction Issues and Responsibilities

You are responsible for ensuring that all information provided to us for sending or withdrawing money is accurate. Once a transaction is processed, it generally cannot be reversed, except as required by applicable law. Unless otherwise specified in this Customer Agreement, Elevate Pay will not be liable for any loss incurred due to transactions carried out according to your instructions or those of a third party acting on your behalf.

If Elevate Pay receives inaccurate payment information resulting in a rejected transaction, you may incur payment rejection fees, which may be deducted from your current or future payments. We reserve the right to reverse a payment in the event of an erroneous transaction or if a payer, payer’s bank, or payment service provider reverses a payment used to fund your transaction.

Payments may be invalidated and reversed by Elevate Pay under the following circumstances:

If our investigation of a bank reversal (e.g., an ACH return) determines that the transaction was fraudulent.
If the payment was sent to you in error.
If the payment was unauthorized.
If the payment was received in relation to activities that violate this Customer Agreement, the Acceptable Use Policy, or any other agreement between you and Elevate Pay.

Should a payment you receive be refunded or invalidated, you are responsible for repaying the full amount of the payment plus any associated fees, including chargeback fees. If your Elevate Pay Account becomes negative due to chargebacks, reversals, fees, or other actions, you owe us that negative amount and agree to repay it immediately. We may send reminders or take reasonable actions to recover the debt, including using debt collection services or pursuing legal action. You may be charged for any costs incurred in these collection efforts.

If you suspect an error or issue with a transaction, please contact Elevate Pay support immediately through our Help Center.

The following are not considered errors:

Unauthorized transactions made by individuals to whom you have provided your login information.
Reversals or invalidations resulting from chargebacks.
Requests for duplicate documentation or information for recordkeeping purposes.
Changes requested by the recipient of funds sent from you.
Delays or restrictions due to holds or limitations applied by Elevate Pay based on confidential risk management procedures or regulatory requirements.
Delays or restrictions resulting from a review of potentially high-risk transactions.
Errors in your transaction input, such as incorrect amounts or recipient details.
Delays or restrictions caused by third parties, including banks or international transfer partners.

Fees

Elevate Pay services may be subject to fees, which will be detailed on our Pricing Page. Your use of the platform constitutes agreement to these fees, which may change from time to time. Additional fees imposed by your or the recipient’s bank are your responsibility.

You are responsible for any taxes which may be applicable to payments you make or receive, and it is your responsibility to collect, report and pay the correct tax to the appropriate tax authority.

Dispute Resolution (Regulation E)

If you suspect any unauthorized transactions or discrepancies in your account, it is important to notify Elevate Pay immediately. In accordance with Regulation E, which governs electronic fund transfers and provides protections for consumers, Elevate Pay will complete an investigation of any reported errors within 10 business days of receiving a notice of error. If further investigation is necessary, a provisional credit will be provided to the consumer’s account while the investigation is ongoing. The entire process, including the final resolution, will be completed within 45 days.

Please note that provisional credits for business accounts may be handled differently, with exceptions applicable as needed. However, consumer accounts will strictly adhere to the guidelines set forth under Regulation E to ensure full compliance and protection of consumer rights. Following the conclusion of the investigation, any necessary adjustments to your account will be made promptly

Communication

Elevate Pay may communicate with you about your Elevate Pay Account and Services electronically as outlined in our Electronic Communication and E-Signature Policy. You will be considered to have received a communication from us 24 hours after it is posted to our website or emailed to you. If a communication is sent by mail, you will be deemed to have received it three (3) Business Days after it is sent or within five (5) days of posting for international mail.

Typically, we will contact you via email. Therefore, you must maintain at least one valid email address in your Elevate Pay Account profile and check your email regularly. Emails from us may contain links to further information on our website. Failure to maintain or check your email and other communication methods may result in missing important messages about your transactions and our Services. We are not liable for any consequences or losses resulting from your failure to do so. Please be aware that email communications are not necessarily secure, so avoid including sensitive information such as credit card details in your email correspondence with us.

In addition to email, we may contact you via letter or telephone when appropriate. If you use mobile services, you agree to receive communications via SMS. Any communications or notices sent via text message (SMS) will be deemed received on the same day.

If you wish to withdraw your consent to electronic communications or e-signatures, you may do so by contacting our support team. However, please be aware that revoking consent may restrict your access to certain features of the platform, as some services require electronic communication and signature capabilities.

Modifications and Updates

Application Updates

Elevate Pay may periodically update its app and services to include new features, bug fixes, or enhancements. By using the Elevate Pay platform, you consent to these updates, which may be automatic. If manual updates are required, you agree to download and install them when necessary to continue using the services.

Modifications to Terms

Elevate Pay may modify these Terms and Conditions at any time to reflect updates in our services, changes in legal requirements, or adjustments to our operational practices. Any updates to the Terms and Conditions will be communicated to you electronically, and continued use of the platform after these updates are made will signify your acceptance of the new terms.

Complaints

If you have any questions or complaints regarding the Services, please contact us through our Help Center via email. We will make every effort to address your concerns promptly and effectively.

Legal Terms

Limitation of Liability and Indemnification

In no event shall Elevate Pay or its affiliates be liable to you for any direct, indirect, incidental, or consequential damages, including loss of data or profits. You agree to indemnify Elevate Pay for any loss or damage arising from your use of the platform, including any breach of these Terms and Conditions.

Indemnification

You agree to indemnify, defend, and hold harmless Elevate Pay, our affiliates, and our and their respective directors, officers, agents, employees, from and against any claims, costs, losses, expenses (including legal fees), or damages arising from your use of our website, any violation of these Terms, or any posting or transmission of materials on or through the website by you. This includes, but is not limited to, any third-party claims that any information or materials provided by you infringe upon third-party proprietary rights or result from your failure to comply with this Agreement.

Disclaimer of Warranty

The Services are provided on an “as is” and “as available” basis, without any warranties, representations, or conditions of any kind. To the maximum extent permitted by law, we expressly disclaim and you hereby waive all warranties, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, or non-infringement of third-party rights. Elevate Pay Services are not error-free and may not be continuously available.

Errors and Omissions

Our website may contain typographical errors or inaccuracies and may not be complete or current. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update information at any time, without prior notice. This includes errors related to product descriptions, pricing, promotions, and availability. We reserve the right to cancel or refuse any order placed based on incorrect pricing or availability information, to the extent permitted by applicable law.

Force Majeure

We shall not be liable for any delay or failure in the performance of our obligations under these Terms (including any delay in payment) or for any damages suffered by you as a result of such delays or failures, caused by or connected with acts of God, acts of public enemies, riots, strikes, acts of governmental agencies, labor difficulties, failure of power, telecommunications, or other suppliers, delays in securing or shortages of raw materials, breakdown or destruction of systems or equipment, or any other cause beyond our control, whether or not similar to those enumerated herein.

Severability

If any provision of these Terms is determined by a competent authority to be invalid, unlawful, or unenforceable, that provision will be severed from the remaining Terms. The remaining provisions will continue to be valid and enforceable to the fullest extent permitted by law.

Waiver

Our failure to exercise or enforce any right or provision of these Terms does not constitute a waiver of such right or provision. Any single or partial exercise of a right or remedy by us does not preclude further exercise of that right or any other right or remedy. No waiver by us shall be valid unless in writing and signed by us.

Assignment of Agreement

You may not assign this Agreement to any other party. We may assign this Agreement or delegate any or all of our rights and responsibilities under this Agreement to any third parties without notice to you.

Termination of Services

Elevate Pay Terminating the Account

We may, at our sole discretion and at any time, terminate this agreement, establish certain transaction limits, close your Elevate Pay account, or discontinue any associated service by providing you with 14 days’ notice. However, we may do so without notice if we suspect the following:

A violation of these Terms and Conditions
The provision of false, incomplete, inaccurate, or misleading information
Engagement in or suspicion of fraudulent activities, money laundering, terrorism financing, or other illegal activities
A reasonable belief that your Elevate Pay account has been compromised or for other security reasons
If required by applicable law or regulation, or at the direction of any regulatory, law enforcement, or competent authority

We will notify you either prior to or, if prior notification is not possible, promptly after the suspension or termination of your account, unless prohibited by law.

If more than one person is authorized to access your account, we cannot prevent authorized users from utilizing the services. Upon termination, we reserve the right to stop any further transfers, payments, or transactions from your account, including previously authorized transactions. If your account remains inactive for 90 consecutive days, we may terminate access to the services without notice.

Upon termination of this agreement, Elevate Pay will have no further obligation to provide access to your account or services. All licenses and rights granted under this agreement will immediately cease. Any information submitted, uploaded, or otherwise made available on the platform may no longer be accessible. Except as required by applicable law or as provided in our Privacy Policy, Elevate Pay has no obligation to store, maintain, or forward any information to you or a third party.

You Terminating the Account

You may terminate this agreement and close your Elevate Pay account at any time by contacting our Help Center. If there is money in your account at the time of closure, you must withdraw it within a reasonable period. You may not close your account to avoid an ongoing investigation. If you attempt to close your account during an investigation, we may hold your funds until the investigation is fully completed. You remain responsible for all obligations related to your account, even after it is closed.

Following the termination of your account, we will retain your information for a period of 5 years, as required by applicable laws and regulatory requirements. We reserve the right to conduct necessary checks relating to money laundering, terrorism financing, fraud, or other illegal activities before authorizing any withdrawal of funds, including the return of any funds to you after your account is closed.

Governing Law and Arbitration

This Agreement is governed by the laws of the State of Delaware. Any disputes arising from this agreement will be resolved through binding arbitration under the American Arbitration Association’s rules.

Acceptable Use Policy

The Elevate Pay platform is intended for lawful financial transactions and is governed by certain rules of usage to ensure compliance with applicable laws and regulations. As a user of Elevate Pay, you are required to utilize the platform for legitimate purposes, including accessing and managing your deposit account, initiating permissible transfers, and using the provided financial tools. Prohibited activities include engaging in fraudulent transactions, laundering money, financing terrorism, or using the platform for any other illegal purposes. In addition, you must not attempt to bypass or undermine the platform’s security features, provide false information during onboarding, or conduct transactions involving restricted or illegal goods. Violating these conditions may result in the suspension or termination of your account, and Elevate Pay may be required to report such violations to the appropriate regulatory authorities or law enforcement. You can review our complete Acceptable Use Policy for more details

Privacy Policy

Elevate Pay is committed to maintaining the privacy and security of your personal information. We collect personal data to provide you with access to our platform and services. This information includes personal identification details, such as your name, contact information, and government-issued identification, as well as data related to your account activity, transaction history, and communication preferences. Your information is used to facilitate account management, comply with regulatory obligations, and ensure the security of our platform. Elevate Pay uses industry-standard security measures to protect your personal data from unauthorized access. You can review our complete Privacy Policy for more details on how your data is collected, used, and stored. For matters concerning your deposit accounts and debit cards, our sponsor bank’s Privacy Policy will apply.

Contact Us

For help, questions, or complaints:

Email: help@elevatepay.co
Phone: +1 (866) 570-0217 (24/7)
Mailing Address: 8 The Green, STE R, Dover, Kent County, DE 19901