Deposit Terms

Stake Consumer Deposit Account Agreement

Please read this Stake Deposit Account Agreement (the“Agreement”) carefully and retain it for your future reference. This Agreement contains the general terms, conditions and disclosures related to the interest-bearing demand deposit account (the “Account”) made available to eligible customers of Stake Network, Inc. (“Program Partner”) by Blue Ridge Bank, N.A. (the “Bank”).

When you see the words “we,” “us,” or “our” in this Agreement, it refers to the Bank and any of the Bank’s affiliates, successors, assignees, agents or service providers. When you see the words “you” or “your,”it refers to you, the owner of the Account, as well as your personal representatives, executors, administrators, and successors.

By opening or continuing to hold an account with us, you agree to be bound by this Agreement as well as any other agreement or document we may provide to you from time to time in connection with the Account.


1 Account Overview

1.1 How to Contact Us

You may contact us with any questions or concerns regarding your Account. All communication between you and us will be handled by theProgram Partner. The best way to contact us is through live chat support via the Online Banking Services (see Section 1.3). You may also contact us by text message at 917-909-4941 or by email at hello@stake.rent.

1.2 Type of Account and Eligibility

The Account is an interest-bearing demand deposit account used to hold your deposits and make certain types of payments and transfers. The Account is available to UnitedStates citizens or lawful permanent residents of the fifty (50) United States, the District of Columbia, and all U.S. territories, who are at least 18 years of age, have a U.S. physical address or with military addresses (APO or FPO),and have a valid Social Security Number or Tax Identification Number. TheAccount is only available to individuals for personal, family or household purposes and may not be opened by a business in any form or used for business purposes.

We may decline to open an Account for any reason at the sole discretion of the Bank or Program Partner. We are not liable for any damages or liabilities resulting from refusal of an Account relationship.

1.2.1 Account Tiers

The Program Partner offers two (2) types of Account Tiers: Tier1 and Tier 2.

Tier designation is in the Program Partner’s sole discretion, based on various factors, such your monthly rent cost.

The Tier that you are placed in may affect your transaction limitations as set forth in this Agreement. Unless otherwise stated in thisAgreement, all terms contained in this Agreement apply equally to both Tiers.

1.3 Online or Mobile Access To Your Account

When you open an Account, you will also be enrolled in an online banking service or mobile application (collectively, “Online BankingServices”) offered by the Program Partner that you can use to access your Account, view information about your Account and conduct certain transactions. You may also be given access to various features through the Online Banking Services separate from your Account. If you cancel your enrollment in theOnline Banking Services at any time, we may close your Account (see Section 3.10 below).

Unless otherwise specified in this Agreement, the Online Banking Services and any if its features are governed by the Program Partner’s Terms, available at https://www.stake.rent/terms.html, and Privacy Policy available at https://www.stake.rent/privacy.html. Please review these documents carefully because by using the Online Banking Services, you agree to be bound by them. These services are not provided or controlled by the Bank or this Agreement, and you agree not to hold the Bank liable for issues that may arise from your use of the services or features.

1.4 Paperless Account

To open an Account, you must agree to go “paperless.” This means that you must (1) provide us with and continue to maintain a valid email address and (2) accept electronic delivery of all communications that we need or decide to send you in connection with your Account by agreeing to ourConsent to Electronic Disclosures available at https://www.stake.rent/disclosures/consent-to-electronic-disclosures.  

1.5 Titling and Ownership of Accounts

The Account may only be owned in the name of one person who may make deposits and transfer or withdraw funds. The Account cannot be owned or titled as a joint account, trust account, a Uniform Transfers to Minors(UTMA) account or a Payable-On-Death (POD) account.

1.6 Authorized Users

You may be given the ability to designate additional individuals (“Authorized Users”) whom you authorize to access your Account and/or conduct transactions through your Account. By establishing an AuthorizedUser, you understand that any transaction authorization, instruction or any other action concerning your Account that your Authorized User engages in shall be deemed authorized by you and valid and we are under no obligation to investigate the authorization, instruction or activity. You also agree that you will not hold us liable for acting upon any such authorization, instruction or activity. We will continue to treat all actions taken by your Authorized User as authorized by you until you revoke the Authorized User’s access to yourAccount by notifying us by email at hello@stake.rent. We also reserve the right to terminate your Authorized User’s access to the Account for any reason and without advance notice.

1.7 How To Open an Account

You may open an Account by downloading the Stake mobile application from the Apple App Store or Google Play Store and following the instructions within the application.

Important information about procedures for opening a new Account: 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 identifying each person who opens an Account, including any Authorized Users who may access an Account. This means that when you open an Account, we will ask for your name, street address, Social Security Number or Tax Identification Number, date of birth and other information that will allow us to identify you. We may ask to see identifying documents, such as a driver’s license.

1.8 Minimum Deposits and Balances

There is no minimum deposit required to open an Account and no minimum balance you need to maintain in your Account.

1.9 Interest Disclosures

Your Account is not interest-bearing. No interest will be paid on this Account.

1.10 Power of Attorney and Attorneys-In-Fact

We may allow you to give another person (known as an “attorney-in-fact”)power of attorney to act on your behalf for your Account. You must obtain written approval from us before we will honor any power of attorney. Email us at hello@stake.rent for approval if you plan to create a power of attorney. Please be aware that it may take up to two (2)weeks for us to review your request. If approved, we will honor orders and instructions from your attorney-in-fact until (1) we receive a written revocation from you; (2) we are notified that you or your attorney-in-fact have died or become incapacitated; or (3) we terminate our acceptance of the power of attorney. We may terminate our acceptance at any time, for any reason and without notice to you, and you agree not to hold us liable for any damages that may result from such action. You also agree to hold us harmless for any actions we take based on the instructions of your attorney-in-fact, including if it is later determined that your power of attorney was invalid or improperly executed.

1.11     Death or Incapacitation

You agree that if we receive notification or if we have reason to believe that you have died or become legally incapacitated, we may place a hold on your Account and refuse all transactions until we know and have verified the identify of your successor. Until we receive notice and any required proof of death or incapacitation, we may continue to accept deposits and process transactions to your Account. Your estate will be responsible for repaying us for any tax liability resulting from payment of your account balance to your estate. You agree to hold us harmless for any actions we take based on our belief that you have died or become incapacitated. If certain payments originating from government entities are deposited into your Account after your death, we may be required to return those payments to the originator upon notice.

1.12 Our Relationship With You

By opening an Account, we are establishing an Account relationship with you and committing to act in good faith and to the exercise of ordinary care in in our dealings with you as defined by the UniformCommercial Code as adopted by the Commonwealth of Virginia. This Agreement and the Account relationship do not create a fiduciary relationship or any other special relationship between you and us.

1.13 Third-Party Service Providers

We work with one or more third-party service providers, including Unit Finance Inc. (“Unit”), in connection with your Account. Unit may assist us in processing transactions, handing account operations, and providing technological connection to the Program Partner and the Bank. By using yourAccount, you license and authorize us to access information maintained by Unit and/or other third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us. In particular, you agree that Unit may perform any functions on your Account that we are other wise authorized to perform and that Unit’s access and use of your information will be governed by the terms of Unit’s Privacy Policy, available at https://www.unit.co/clients-privacy-policy.

1.14 Confidentiality and Our Privacy Policy

Your privacy is very important to us. Under this Agreement, we will generally only disclose information to third parties about your Account or the transactions you make:

▪       To verify your identity and determine if we should open anAccount for you using services provided to us by third parties.

▪       Where it is necessary for completing a transaction.

▪       To verify the existence and condition of your Account for a third party such as a credit bureau or merchant.

▪       To comply with government agency or court orders.

▪       As disclosed in our Privacy Policy.

▪       If you give us your written permission to share your information.

▪       Please refer to our Privacy Policy at https://www.mybrb.com/privacy-policy.html for more information about our commitment to you, your privacy rights and who we share data and information with.

In addition, we disclose your information to Unit in order to facilitate the Account and for other ancillary purposes. You agree to Unit’s use of your information in accordance with the terms of Unit’s Privacy Policy https://www.unit.co/clients-privacy-policy.

1.15 Cell Phone Communications

By providing us with your cellular phone or other wireless device number, you are expressly consenting to receiving non-marketing communications at that number—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an auto-dialer—from us and our affiliates and agents. This consent applies to all telephone numbers you provide to us now or in the future. Your telephone or mobile service provider may charge you for these calls or messages. You also agree that we may record or monitor any communications for quality control and training purposes.

1.16 Our Business Days

Our business days are Monday through Friday, excluding federal holidays.

2. Your Account Responsibilities

We strive to keep yourAccount secure and provide you with tools and services to help you manage yourAccount. However, there are certain things you should do to protect yourAccount and your funds.

2.1 Notify Us If Your Information Changes

You must notify us immediately if there is a change to your name, telephone number, mailing address, email address or any other information you have provided us so that we can continue to provide you with statements and important notices concerning your Account.

2.2 Keep Track of Your Transactions and Available Balance

It is important that you keep track of your transactions and the funds in your Account that are available for you to use (“AvailableBalance”) by reviewing your transaction history. It is also important to understand that your Available Balance may not reflect transactions you have authorized that have not yet been presented to us for payment.

You are also responsible for reviewing your Account statements as they are made available to you for errors or unauthorized activity. If you identify an error or unauthorized activity, you must notify us promptly to avoid losing your money. Please refer to Section 4.7 for information concerning errors and unauthorized activity.

2.3 Protect Your Account Information

It is important that you protect your Account information to prevent unauthorized transactions and fraud. Keep your Account number, debit card, ATM card and statements secure at all times, and be careful about who you share this information with. If the Program Partner provides you with access toOnline Banking Services, make sure to also keep your computer or mobile device secure at all times and avoid accessing the Online Banking Services when otherscan see your screen.

If your Account number, debit card, ATM card, mobile device or Online Banking Services login credentials are lost or stolen, notify us immediately to limit your liability for unauthorized transactions that may occur. Please refer to Section 4.6 for information and applicable deadlines for notifying us of losses or theft.

3 General Rules Governing Your Account

You understand that any payment instruction or activity performed using any Online Banking Services provided to you by the Program Partner shall be deemed authorized by you and valid and we are under no obligation to investigate the instruction or activity.

3.1 Deposits Into Your Account

You may make deposits into your Account using any of these methods described below. We do not charge you any fees for making deposits.