ACH Authorization

Your Siren Account is powered by Cred.ai. In order to elect certain Cred.ai Services (Convenience Transfer Services and Safe Spending Services) on your Enabled Card (as all are defined in the Siren Cred.ai Services Amendment to the Deposit Agreement), you must agree to this ACH (Automated Clearing House) Authorization. By electronically agreeing to this ACH Authorization, you agree to be bound by the rules and regulations of the National Automated Clearing House Association (“NACHA”) Operating Rules; you agree not to originate any ACH or EFT that violates the laws of the United States; and you understand that Cred.ai or WSFS Bank may review your ACH or EFT transactions from time to time, or suspend or terminate your ACH or EFT privileges, to ensure compliance. Capitalized terms not defined in this “ACH Authorization” refer to defined terms in the Siren Cred.ai Services Amendment to the Deposit Agreement.

1. ACH Authorization. By electronically agreeing to this ACH Authorization, you authorize Cred.ai to cause WSFS Bank to initiate ACH debit and credit transfers between your Linked Bank Account and your Siren Deposit Account, only as follows:

a) for purposes of the Safe Spending Services
b) for purposes of the Convenience Transfer Services, and
c) if applicable, to correct any erroneous ACH debit or credit.

The amounts and dates of these transfers will vary. You have the right to receive ten (10) days’ prior written notice from us of each varying ACH transfer. However, in order to utilize the Cred.ai Services, which seek to operate in real time, you agree to exercise your option to waive your right to receive ten days’ prior written notice of the amount and date of these ACH transfers (notice at the time of the transfer will be provided in your mobile App), but only if any such ACH transfer:

1) Occurs in a range between $0 and $5,000, and
2) would not bring the Linked Bank account balance reported to us by Plaid, if available, just before the transfer is initiated, to below $0.00.

If an ACH transfer will not meet the two criteria above, we will provide you with at least ten days’ prior written notice of the amount and date of the ACH transfer.

In general, you can anticipate the amount of a given ACH transfer as: the Convenience Transfer Amount that you have previously set in the mobile App (Convenience Transfers are optional and the amounts are set by you; see section 5.0 of the Siren Cred.ai Services Amendment to the Deposit Agreement), or the amount by which your Enabled Card outstanding balance exceeds the sum of: your Siren Deposit Account balance, plus cash back/promotional credits balance, plus the total future direct deposits being factored into your current Safe Spend amount.

Subject to certain restrictions contained within the Siren Cred.ai Services Amendment to the Deposit Agreement, you may transfer money from your Siren Deposit Account back to your Linked Bank account by initiating an ACH transfer in your mobile App.

You may change or stop your Convenience Transfer Elections in the mobile App. In addition, you may stop a transfer under, or revoke this ACH Authorization by calling us at 855-774-2155 or by writing us at: Siren Account Services, P.O. Box 30208, Philadelphia, PA 19103, Please note that we require three business days’ notice to process any stop payment or revocation. Any ACH transfers generated by this ACH Authorization prior to the expiry of the three business days’ notice will still occur as scheduled.