• Privacy policy
  • Terms of Service

Otomo Terms of Service

The Otomo Terms of Service (“Terms”) are a legally binding agreement between you, Paymation Inc. ("Otomo" or "Company"), Plaid Inc (“Plaid”), Dwolla, Inc. (“Dwolla”), and Dwolla's financial institution partners, Compass Bank (“BBVA Compass”) and Veridian Credit Union (collectively, the “Financial Institution Partners”), and apply to your use of a Otomo account (“Account”) and any Otomo products and services that you access using an Account (the “Otomo Services”). Otomo offers an automated savings and payment software platform that allows users to dynamically save, send, and receive money using an Internet connection. Dwolla performs all transfer and custody of funds with their Financial Institution Partners based on instructions issued through Otomo to Dwolla's software platform. Dwolla’s actions in connection with transfer and holdings of funds are done as an agent of the Financial Institution Partners and on Otomo’s behalf. 

The Financial Institution Partners are party to these Terms only in their capacity as the entities that perform funds transfers and hold your funds. Except as specifically set forth in these Terms, the Financial Institution Partners have no responsibility to perform the Otomo Services or fulfill any obligations under these Terms.

It is important that you read and understand these Terms as they govern your use of the Otomo Services. These Terms contain a binding arbitration provision, which affects your legal rights and may be enforced by the parties. By accessing or using the Otomo Services, you accept and agree to be bound by these Terms. If you do not agree to these Terms, you must immediately stop using the Otomo Services.


We may amend these Terms at any time by posting a revised version on Otomo or Otomoapp.com or any other website we maintain for purposes of providing the Otomo Services. Amended Terms are effective at the time we post them and your continued use of the Otomo Services constitutes your acceptance of any amended Terms. We may provide you with notice regarding upcoming Terms changes by email. Capitalized terms used in these Terms have the meaning assigned to them in Section 16 (Definitions).


Dwolla and their Financial Institution Partners provide services to businesses like Otomo, which allow our customers to maintain balances and transfer funds. Because you open, access, and use financial account services provided by Dwolla solely through Otomo's website, and/or application (“Application”), and/or API's, your Otomo account is a “White Label Account” as described in Section 8 (White Label Accounts).

 

Using Otomo.

  • Otomo provides a software platform. The Otomo software platform gives you the ability to transfer funds into and maintain a balance within your White Label Account as either savings "Otomo Savings" and/or general-purpose funds "Otomo Available Balance", and send and receive electronic payments to other Otomo users. All funds transfer and custodial services are provided by the Financial Institution Partners, as neither Otomo nor Dwolla receive, hold, or transmit funds. Otomo provides the software platform that allows you to send funds transfer instructions to the Financial Institution Partners via Dwolla. Any funds recorded as Otomo Savings or Otomo Available Balance in your Account are held in one or more pooled holding accounts held by the Financial Institution Partners (“Holding Account”). THE FUNDS HELD IN A HOLDING ACCOUNT ARE NOT ELIGIBLE FOR FDIC INSURANCE, OR INDIVIDUAL INSURANCE AND MAY NOT BE ELIGIBLE FOR SHARE INSURANCE OFFERED BY THE NATIONAL CREDIT UNION SHARE INSURANCE FUND. IN THE EVENT OF A FINANCIAL INSTITUTION PARTNER RECEIVERSHIP, YOU MAY LOSE VALUE.
  • Otomo Accounts. Otomo offers personal Accounts “White Label Accounts” as set out in Section 8 (White Label Accounts) (each an “Account”). References in these Terms to “Accounts” include White Label Accounts, unless otherwise specified. If you open a White Label Account through Otomo, you agree that you are opening the Account primarily for personal, family, or household purposes.
  • Your privacy. Your privacy is very important to Otomo, Plaid Inc., and Dwolla Inc. (our "Financial Service Providers"), and the Financial Institution Partners. When you register for an Account, you confirm that you have read and accepted the Otomo Privacy Policy as well as the Dwolla Privacy Policy and Plaid Privacy PolicyYou also agree to read and accept Compass Bank’s Consumer Privacy Disclosure and Veridian Credit Union’s Notice of Your Financial Privacy Rights.
  • Accuracy of information. When you register for an Account, you may be required to provide information that will allow us to verify your identity, including but not limited to: a valid US physical address (not including P.O. Boxes or commercial mail receiving agencies), phone number, bank or credit union account information, a copy of your photo identification, and your tax identification or social security number. You agree to provide true and accurate information to Otomo when you create your Account. You also agree to update this information to keep it true and accurate at all times.
  • Authentication.You may be required to provide additional information or documentation to allow Otomo to verify your identity and/or your account information. Otomo may also verify your information against third-party databases or other sources and you authorize Otomo to make such inquiries.
  • Password security. You are responsible for keeping your Account login information, password, and PIN secure. If you share your Account credentials with another person, you are responsible for all activity that person conducts using your Account, regardless of whether or not you authorized the activity. Otomo will never ask you for your Account credentials.
  • Authorization to debit your linked bank or credit union account. If you link a bank or credit union account to your Account, the bank or credit union must be a state or federally chartered institution in the United States. When you initiate a savings transfer or make a payment that is funded by your bank or credit union account, you are authorizing Otomo, our Financial Service Providers, and the Financial Institution Partners to initiate an electronic transfer from your linked bank or credit union account in the amount you specify. You are solely responsible for complying with any terms set by your bank or credit union with respect to your bank or credit union account, including any fee terms, such as non-sufficient fund or overdraft fee terms. If you are entitled to a Reversal, refund, or other adjustment associated with a payment you made using the Otomo Services, you also authorize Otomo, our Financial Service Providers, and the Financial Institution Partners to credit your linked bank or credit union account to complete that transaction.
  • Automated Clearing House clearing times. If you link a bank or credit union account to your Account, you may add funds to your Account, withdraw money from your Account, or send a payment using your linked bank or credit union account. If you do so, you acknowledge that normal Automated Clearing House clearing times will apply. This means that the funds should generally be available to you or your recipient within 4 business days. If your recipient is a seller, the seller may wait until they have received the funds before fulfilling your purchase.
  • USA PATRIOT Act Notice. Important information about procedures for opening a new account under the USA PATRIOT Act of 2001: 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. What this means for you: When you open an Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see a form of identification with your photograph or other identifying documents.
  • No endorsement of products. Otomo does not provide any endorsements or guarantees for any individual or entity using the Otomo system, nor any third-party offers, goods or services featured on Otomo websites. Information regarding third-party offers, goods, and services is provided on Otomo's websites for informational purposes only, and may not be true, accurate, or reliable.
  • Timeliness, Accuracy of Automated Financial Plans, and Accuracy of External Data. As part of the Otomo Services, Otomo retrieves User information from the bank accounts (“Your Bank Accounts”) you maintain online with third-party financial institutions with which you have customer relationships, maintain account(s) or engage in financial transactions ("Account Information"). Otomo works with our Financial Service Providers under contract to access this Account Information. Otomo makes no effort to review the Account Information for any purpose, including but not limited to accuracy, legality or non-infringement. Otomo is not responsible for the products and services offered by or on third-party sites. You agree by your use of the Otomo Services, that the automatic transfers you schedule, which rely on the accuracy of data provided by third-parties, may not function as planned if the Account Information requested from the third-parties is inaccurate or unavailable.

    Otomo cannot always foresee or anticipate technical or other difficulties, which may result in failure to obtain data or loss of data, personalization settings or other service interruptions. Otomo cannot assume responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, communications or personalization settings. Moreover if, for example, you set up an automated financial plan using the Otomo Services to move funds in a dynamic way based on conditions reported by a third-party such as an external bank account balance (“Otomo Plan”), a larger amount of money may be incorrectly transferred if your Account Information is inaccurately reported to Otomo. You agree that you understand the risk in the latter case and proceed with the use of the Otomo Services at your own risk. When Account Information is displayed through the Otomo Platform, it is only as fresh as the time shown, which reflects when the information is obtained from such sites. Such information may be more up-to-date when obtained directly from the relevant sites.

 

Consent to receive electronic Communications.

  • Communications. By opening an Account and using the Otomo Services, you consent to receive all Communications from Otomo electronically and you confirm that you can access, receive and retain such Communications. “Communications” means all communications, terms, disclosures, notices, and statements that Otomo provides to you in connection with your Account and your use of the Otomo Services. Otomo provides Communications to you by posting them on otomoapp.com or by emailing them to you at the email address associated with your Account.
  • Notices to you. A Communication will be considered to be received by you within 24 hours after the time we post it to our website or email it to you.
  • Hardware and software requirements. In order to access and retain Communications electronically, you need the following hardware and software
  • A computer, laptop, smartphone, or other device, that is Internet-enabled;
  • A valid email account associated with your Account;
  • A web browser which includes 128-bit encryption, such as current versions of Chrome, Internet Explorer, Firefox, or Safari, with cookies enabled; and
  • Data storage to save Communications electronically or an installed printer to print them.
  • Keeping your contact information updated. You must keep your email address updated in order to receive Communications from Otomo electronically. To update the email address associated with your Account, log into your Account at otomoapp.com and access the settings or preferences menu.
  • Requesting paper copies. You may request a paper copy of a Communication that we provided to you electronically by contacting us as set out in Section 2.7 (How to contact us regarding electronic Communications). We will send it to the mailing address on file for your Account. Otomo may charge you a fee of $5 for each paper copy of a Communication sent to you.
  • Withdrawing consent. You may withdraw your consent to receive Communications electronically by contacting us as set out in Section 2.7 (How to contact us regarding electronic Communications). If you withdraw your consent, Otomo may prohibit you from using the Otomo Services and may close your Account.
  • How to contact us regarding electronic Communications. If you have any questions regarding our policy on electronic Communications, please email us at [email protected]otomoapp.com.

Fees.

  • Otomo Fees. As of May, 2018, Otomo provides one free Otomo automated savings or payment plan ("Plan") for each personal user to use for as long as his or her Account is active. Beyond that, Otomo may choose to implement a monthly fee for any additional plans. At this time, all personal users may enjoy Otomo services for free.
  • Facilitator Fee. The recipient, such as a seller or a third-party facilitating your payment transaction (“Facilitator”) may charge you additional service fees (“Facilitator Fee”) based on their terms and conditions. We recommend that you review Facilitator Fee terms before completing your payment.
  • Reversal Fee. If a payment that you received is subject to a Reversal as set out in Section 6 (Transaction reversal), you may be charged a fee of $15.00 (“Reversal Fee”).

  • Transaction limits.
  • Account limits. You are limited on the amount of money that can be sent from your Account per transaction. The per transaction limit varies based on your Account type. Personal Accounts are limited to sending $5,000.00 per transaction. Business, Non-profit, and Government Accounts are limited to sending $10,000.00 per transaction. We reserve the right to decrease your sending limit at any time, for any reason.
  • Increased limits. You may apply for an increased sending limit by contacting us as set out in Section 4.3 (How to contact us regarding Transaction limits). Approval is solely in Otomo’s discretion and may be reassessed and/or revoked at any time.
  • How to contact us regarding Transaction limits.  If you would like to increase your transaction limit, please email us a [email protected] stating the reason that you would like to increase your limit and the amount that you would like to be able to send per transaction.

  • Funding source limitations.
  • Recipient Limitation. A recipient, such as a seller, may choose not to accept all forms of Otomo funding sources. This means you may not be able to choose from the full range of funding sources you have available in your Account to complete your payment to that recipient.

Transaction reversal.

  • Reversals. Any payment that you receive may be reversed if: (a) the sender requests a reversal of the payment, (b) the sender’s bank or credit union requests a reversal of the payment, or (c) Dwolla decides a Dispute against you (each a “Reversal”). You are liable to the Financial Institution Partners for the full amount of any payment that you receive that is subject to a Reversal and the Reversal Fee, if applied.
  • Authorization to recover amounts due. You authorize Otomo and our Financial Service Providers to recover any Reversal amounts due to the Financial Institution Partners by debiting your Otomo Available Balance. If you have an insufficient Otomo Available Balance, you authorize Otomo and, our Financial Service Providers, and the Financial Institution Partners to take any of the following actions to recover the remaining amounts from you:
  • Debit the bank or credit union account(s) linked to your Account
  • Suspend your Account and require your immediate payment; or
  • Engage in collection efforts.

User conduct.

  • Restricted activities. You agree that in connection with your use of the Otomo Services and your interactions with Otomo you will not:
  • Breach these Terms or any other applicable terms or policies of Otomo, our Financial Service Providers, the Financial Institution Partners, or Comenity Capital Bank that you have accepted;
  • Provide false or inaccurate information to Otomo, including identity information;
  • Engage or attempt to engage in illegal or fraudulent activities;
  • Engage in transactions involving illegal goods, including but not limited to counterfeit goods, stolen goods, illegal or controlled substances, and substances that pose a risk to consumer safety (including synthetics, “potpourri not for human consumption”, and other similar items)
  • Engage in transactions involving illegal services, including but not limited to counterfeit services, illegal gambling, Ponzi and/or pyramid schemes, and money laundering;
  • Engage in transactions involving debt collection services;
  • Engage in transactions involving escort services;
  • Engage in transactions involving the purchase, sale, or exchange of Virtual Currency or provide a Virtual Currency marketplace or exchange;
  • Engage in transactions involving the purchase and/or sale of lottery tickets;
  • Provide white label ATM services;
  • Engage in the following activities without Otomo’s prior written consent: transactions related to online gambling, or activities regulated by FinCEN, including money services business activities and payday lending;
  • Attempt to receive or actually receive duplicate compensation for a disputed payment from the recipient (such as a seller), Dwolla, and/or your bank or credit union; or
  • Engage in activity that indicates, in the discretion of Otomo, our Financial Service Providers, or the Financial Institution Partners, that there may be a high level of risk associated with you, your Account, or any of your Account activity.

White Label Accounts.

  • The terms and conditions of this Section 8 only apply to your use of a Dwolla White Label Account (“White Label Account”) through Otomo (“White Label Provider”). You are referred to herein as a “Otomo Customer”. The products and services that the White Label Provider provides through its Application are referred to herein as “White Label Provider Services”. In order to provide you with a seamless payments experience, your White Label Account and payment activity will be managed by the White Label Partner in its Application.
  • Applicability of the Dwolla Terms of Service (“Terms”). In order to use the payment functionality of a White Label Provider’s Application, you must fully register as a Otomo User and thereby agree to open a White Label Account provided by Dwolla and accept Dwolla’s Terms of Service as they apply to you as a Otomo Customer. All terms and conditions of Dwolla’s Terms apply to you unless contradicted in the Otomo Terms.
  • Relationship with White Label Provider. It is the sole responsibility of Otomo to clearly explain the nature of the Otomo Services to you and to provide such services to you. Dwolla is not responsible to you for any Otomo Services, including any goods or services that Otomo may sell. Otomo must have a documented agreement with you to provide services from the Financial Institution Partners to you, and is responsible for publishing a privacy policy, and a refund policy if the Otomo Application allows you to buy or sell goods and/or services.
  • Otomo Account management and notifications. As a Otomo Customer, you will access and manage your White Label Account solely through our web and mobile Applications, and will receive all activity notifications solely from us. You will not have the ability to manage your White Label Account on dwolla.com, the Dwolla mobile application, or any other Dwolla application, although Dwolla may send you account or transaction notifications, if necessary.
  • Otomo customer support. Otomo is responsible for providing all customer support and dispute resolution for Otomo Services, including any goods or services sold via our Application. Otomo must disclose to you the method of accessing that customer support. If you require assistance canceling a transaction, you should contact Otomo at [email protected] but you may also contact Dwolla at [email protected].
  • Otomo Account data sharing. In order to open and manage your Otomo Account, you must provide true and accurate information, including, without limitation, the information described in Sections 1.4 (Accuracy of information) and 1.5 (Authentication) of these Terms. You consent to Otomo sharing that data with our Financial Service Partners, and the Financial Institution Partners using and storing that data for purposes of opening and managing your Otomo Account.
  • Otomo Account termination. If you want to terminate your relationship with Otomo, please contact us at [email protected] or Dwolla at [email protected]. If your Otomo Account holds a balance at termination, Otomo or Dwolla may require you to withdraw any Overall Otomo Balance before closing your Otomo Account.

Otomo product-specific terms.

  • Otomo Credit. Our financial service provider, Dwolla, has partnered with Comenity Capital Bank to have the option of providing Account holders with access to a line of credit that can be used as a Otomo funding source (“Otomo Credit”). Comenity Capital Bank is responsible for all underwriting decisions and extensions of credit. You may be limited on the amount of money that can be sent using Otomo Credit as a funding source. These limits are set by Comenity Bank and depend on the type of transaction. If you have applied for and been approved to receive Otomo Credit through Dwolla and Comenity Capital Bank, your use of Otomo Credit is subject to the Comenity Capital Bank Terms and Conditions, Credit Account Agreement, Customer Privacy Statement, and Dwolla Terms and Conditions, in addition to these Terms.
  • Next Day Transfers. If you have or upgrade to a Business, Government, or Non-Profit Account, you may apply for Otomo’s Next Day Transfer service, which allows you to transfer funds from your linked bank or credit union account to your Otomo Available Balance in 1 to 2 business days. Otomo may deny any application in its sole discretion, may reassess your eligibility at any time if your application is successful, and may modify eligibility for the service at any time.

 

Disputes with other Otomo users.

  • Dispute resolution. You understand and agree that Otomo is not responsible for the goods or services that you pay for using the Otomo Services. Each seller that you purchase from is responsible for providing the goods and services that you purchase and for providing all customer service related to those goods and services. We recommend that you review a seller’s policies before completing your purchase. You are responsible for resolving any disputes that you may have with a seller. If you have exhausted all options for resolving a dispute with a seller, you may choose to file a dispute claim with Otomo (“Dispute”) by following the steps in Section 10.3 (How to file a Dispute).
  • Release of Otomo. By filing a Dispute, you understand and agree that:
  • You are asking Otomo to assist in resolving the dispute in its sole discretion and that such assistance or Otomo’s decision may not be satisfactory to you;
  • Otomo’s assistance in resolving the dispute does not guarantee any particular outcome nor any action on Otomo’s part; and
  • You release Otomo and our officers, directors, agents, employees, and suppliers from all claims, demands, and damages of any kind arising out of your dispute with a seller and Otomo’s review of your Dispute.
  • How to file a Dispute. To file a Dispute, follow these steps:
  • Within 45 days of the original transaction, email [email protected] with the following information:
  • The Account Username and names of both parties, if available;
  • The transaction ID number;
  • The amount of the transaction; and
  • The details of your disagreement with the recipient, including any steps already taken to resolve the issue and copies of supporting documentation (such as email correspondence, receipts, shipping confirmations, etc.).
  • Provide any additional information or documentation that we may request. Once Otomo has decided the outcome of the Dispute, the parties will be notified of the decision. You are required to comply with the decision and complete any actions required by such decision.
  • Your liability and actions we may take.
  • Your liability. You are responsible for all Reversals, claims, fees, fines, penalties, and other liability incurred by Otomo, our Financial Service Providers, and the Financial Institution Partners, other Otomo users, or arising from your breach of these Terms or your use of the Otomo Services. You agree to reimburse Otomo, our Financial Service Providers, the Financial Institution Partners, other Otomo users, or third-parties for any and all such liability.
  • Actions we may take. If we determine, in our sole discretion, that you may have breached these Terms, that you or your Account activity presents risk or security concerns, or if we are unable to verify your identity, we may take actions to protect Otomo and our users, our Financial Service Providers, the Financial Institution Partners, or other third-parties from Reversals, claims, fines, penalties, and any other liability. These actions may include, but are not limited to, the following:
  • Suspending your access to your Account and/or the Otomo Services;
  • Suspending your access to your funds held in a Holding Account for up to 90 days;
  • Taking action as set out in Section 6 (Transaction reversal) to recover amounts that you owe;
  • Closing your Account;
  • Contacting Otomo users or third-parties who have purchased goods or services from you, contacting your bank, and/or warning other Otomo users, law enforcement, or other impacted third-parties of your actions;
  • Refusing to provide the Otomo Services to you in the future; and
  • Taking legal action against you.
  • Notice of limit or suspension. We will provide you with notice if we take any of the above actions against your Account. If we limit or suspend your Account, we will provide you with notice of our action.
  • Unauthorized transactions and Error resolution.
  • Notify Otomo of Account Errors. Contact Otomo immediately at [email protected] if you think that: (a) your Account has been accessed without your authorization, (b) a transaction that you did not authorize has occurred, (c) a transaction has been processed incorrectly to or from your Account, or (d) your Account statement contains an error regarding your transaction history (each, an “Error”). If you give someone access to your Account and that person conducts transactions without your authorization, these transactions are not considered Errors, unless you are the victim of a phishing attack or similar exploit. We must hear from you within 60 days after we provided the Account statement on which the suspected Error first appeared.
  • How to notify Otomo. When you notify us of the suspected Error, please provide:
  • Your name and Username or email,
  • The nature of the suspected Error and why you believe it is an Error, and
  • The dollar amount of the suspected Error.


If you notify us by phone, we may require that you send us your inquiry by email within 10 business days.

  • Investigation by Otomo. We will determine whether an Error occurred within 10 business days after you notify us and will correct any Error promptly. If we need more time, we may take up to 45 days to investigate. If we decide to do this, we will credit your Account within 10 business days for the amount of the suspected Error. If we ask you to send your inquiry by email and we do not receive it within 10 business days, we may not credit your Account. For Errors involving new Accounts, we may take up to 90 days to investigate and may take up to 20 business days to credit your Account.
  • Investigation results. Otomo will tell you the results within 3 business days after completing our investigation. If we decide that there was no Error, we will provide you a written explanation. You may ask for copies of the documents that we used in our investigation.

 

Termination.

  • By you. You may stop using the Otomo Services at any time. You may also close your Account at any time, as long as you have no pending transactions or open Disputes, by contacting us at [email protected] You will be required to withdraw any Otomo Available Balance and Otomo Savings Balance before closing your Account.
  • By us. We may close your Account or terminate your access to the Otomo Services without liability, for any reason, upon notice to you. Reasons for termination may include, but are not limited to, your violation of these Terms or any other applicable terms or policies of Otomo, our Financial Service Providers, or the Financial Institution Partners, Account inactivity, or Otomo’s assessment that you pose an unacceptable risk to the Otomo network, based on our confidential risk and security criteria. Otomo also reserves the right to modify or terminate the Otomo Services at any time, for any reason.

 

Disputes with Otomo.

  • Binding arbitration. You, Otomo, our Financial Service Providers, and the Financial Institution Partners (the “Parties") agree that upon the election of either of the Parties, any past, present, or future dispute relating in any way to your Account, or any other past, present, or future relationship or transaction between the Parties, will be resolved by binding arbitration as discussed below, and not through litigation in any court. Such disputes are called "Claims" for purposes of this agreement. This binding agreement to arbitrate applies regardless of whether the dispute is between you and us jointly or separately. This arbitration agreement is entered into pursuant to the Federal Arbitration Act, 9 U.S.C. §§ 1-16. The arbitration shall be conducted by a single neutral arbitrator acting under the administration of United States Arbitration and Mediation, MidWest, Inc., and in accordance with the then-applicable United States Arbitration and Mediation Rules of Arbitration. Unless the Parties agree otherwise, or unless the arbitration administrator's rules or law require otherwise, the arbitration shall be held in Los Angeles, CA. 
    The arbitrator will decide the Claim in accordance with all applicable law, including recognized principles of equity and statutes of limitations, and will honor all privileges recognized by law. The arbitrator will have the authority to award to a Party any damages or relief provided for under applicable law. The arbitrator's decision shall be final and legally binding, and may be enforced by any court having jurisdiction.
    No class actions or similar process, and no joinder or consolidation of any Claim with a Claim of any other person or entity, shall be allowable in arbitration, without the written consent of all Parties. The arbitrator shall have no authority to entertain any Claim on behalf of a class, group, person, or entity who is not a named party to the arbitration, nor shall any arbitrator have authority to make any award for the benefit of, or against, any class, group, person, or entity that is not a named party to the arbitration. In the event that there is a dispute about whether limiting arbitration to non-class proceedings, or to the named parties, is enforceable under applicable law, then that question shall be resolved by a court rather than by an arbitrator; and to the extent it is determined that resolution of a Claim must proceed on a class basis, it shall so proceed in a court of competent jurisdiction rather than in arbitration. If you elect to proceed with respect any Claim by an individual action in a small claims court, or its equivalent, instead of arbitration, we will not object, however, any such action shall be taken in small claims court in Los Angeles, California. 
    If the arbitrator or arbitration administrator would impose filing fees or other administrative costs on you, we will reimburse you, upon request, to the extent such fees or costs would exceed those that you would otherwise have to pay if you were proceeding instead in a court. We will also pay additional fees or costs if required to do so by the arbitration administrator's rules or applicable law. Apart from the foregoing, each Party will be responsible for any other fees or costs, such as attorney fees that the Party may incur. If you consider that you are unable to afford any fees or costs that would be yours to pay, you may request that we pay or reimburse them, and we will consider your request in good faith.
    Arbitration with respect to a Claim is binding and none of the Parties will have the right to litigate that Claim through a court. In arbitration the Parties will not have the same rights that apply in court, such as the right to a trial by judge or jury and the right to participate or be represented in proceedings brought by others such as class actions or similar proceedings. In addition, the right to discovery and the right to appeal may also be limited or eliminated in arbitration. All of these judicial rights are waived with respect to Claims that the Parties elect to arbitrate.

 

General terms.

  • Indemnification. You agree to defend, indemnify and hold harmless Otomo, our Financial Service Providers, the Financial Institution Partners, and our and their respective officers, directors, agents, employees, and suppliers from any third-party claims, actions, proceedings, and suits and related liabilities, damages, settlements, penalties, fines, costs or expenses (including reasonable attorneys' fees and other litigation expenses) arising from: (a) your violation of these Terms or any other applicable terms or policies of Otomo, our Financial Service Providers, or the Financial Institution Partners; (b) your use of the Otomo Services; or (c) your negligence or willful misconduct; and/or (d) your actual or alleged violation of any third-party rights, or any applicable laws, regulations or rules.
  • Limitation of liability. IN NO EVENT SHALL OTOMO, OUR FINANCIAL SERVICE PROVIDERS, THE FINANCIAL INSTITUTION PARTNERS, OR OUR OR THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, OR SUPPLIERS BE LIABLE TO YOU OR ANY THIRD-PARTY UNDER ANY CIRCUMSTANCES FOR ANY INDIRECT, CONSEQUENTIAL, SPECIAL, PUNITIVE, OR EXEMPLARY DAMAGES OR LOSSES, INCLUDING BUT NOT LIMITED TO DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES INCURRED IN CONNECTION WITH: (i) THESE TERMS, (ii) YOUR USE OF, INABILITY TO USE, OR UNAVAILABILITY OF THE OTOMO SERVICES, OR (iii) ANY GOODS OR SERVICES PURCHASED, RECEIVED, OR PAID FOR USING THE OTOMO SERVICES, UNDER ANY THEORY OF LIABILITY OR CAUSE OF ACTION WHETHER IN TORT (INCLUDING NEGLIGENCE), CONTRACT, OR OTHERWISE, REGARDLESS OF WHETHER OTOMO OUR FINANCIAL SERVICE PROVIDERS, OR THE FINANCIAL INSTITUTION PARTNERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL OTOMO, DWOLLA, PLAID, OR ANY OF THE FINANCIAL INSTITUTION PARTNERS’ LIABILITY AND THE LIABILITY OF OUR AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, AND SUPPLIERS EXCEED THE FEES OTOMO HAS RECEIVED FROM YOU THROUGH YOUR USE OF THE OTOMO SERVICES. OTOMO, OUR FINANCIAL SERVICE PROVIDERS, AND THE FINANCIAL INSTITUTION PARTNERS SHALL NOT BE JOINTLY LIABLE FOR ANY MATTERS HEREUNDER. THIS LIMITATION OF LIABILITY SECTION SHALL APPLY TO FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
  • No warranty. THE OTOMO SERVICES ARE PROVIDED "AS IS" AND “AS AVAILABLE”, WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED, OR STATUTORY. USE OF THE OTOMO SERVICES IS AT YOUR OWN RISK. OTOMO, OUR FINANCIAL SERVICE PROVIDERS, THE FINANCIAL INSTITUTION PARTNERS, AND OUR AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, AND SUPPLIERS, SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. NEITHER OTOMO NOR OUR FINANCIAL SERVICE PROVIDERS, NOR THE FINANCIAL INSTITUTION PARTNERS HAVE CONTROL OF, OR LIABILITY FOR, ANY PRODUCTS OR SERVICES THAT ARE PAID FOR USING THE OTOMO SERVICES AND CANNOT ENSURE THAT ANY THIRD-PARTY YOU TRANSACT WITH WILL COMPLETE THE TRANSACTION. NEITHER OTOMO, NOR OUR FINANCIAL SERVICE PROVIDERS, NOR THE FINANCIAL INSTITUTION PARTNERS REPRESENT OR WARRANT THAT THE OTOMO SERVICES WILL MEET YOUR REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM OTOMO OR THROUGH THE OTOMO SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. NEITHER OTOMO, NOR OUR FINANCIAL SERVICE PROVIDERS, NOR THE FINANCIAL INSTITUTION PARTNERS SHALL BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS OR SYSTEM FAILURES THAT MAY AFFECT THE PROCESSING, COMPLETION, OR SETTLEMENT OF OTOMO SERVICES TRANSACTIONS. THIS DISCLAIMER OF WARRANTY SECTION SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION.
  • Force majeure. You understand and agree we will not be held responsible for any losses or damages resulting from suspension of service due to extraordinary events or circumstances beyond our control. In such an event, Otomo may suspend the Otomo Services and access to your Account and our Financial Service Providers as well as the Financial Institution Partners may suspend service and access to funds in a Holding Account.
  • Assignment. You may not transfer or assign any rights or obligations you have under these Terms. Otomo, our Financial Service Providers, and the Financial Institution Partners reserve the right to transfer or assign any rights or obligations under these Terms at any time.
  • Applicable law. You agree that the laws of the State of California, without regard to principles of conflict of laws, govern these Terms and any claim or dispute that has arisen or may arise between you and Otomo, our Financial Service Providesr, and/or the Financial Institution Partners.
  • Complete agreement, no waiver, and survival. These Terms, along with any applicable terms and policies of Otomo, our Financial Service Providers, or the Financial Institution Partners that you have agreed to, set forth the entire understanding between you, Otomo, our Financial Service Providers, and the Financial Institution Partners with respect to the Otomo Services. Any failure of Otomo, our Financial Service Providers, or the Financial Institution Partners to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. Any provision of these Terms held to be invalid or unenforceable under applicable law shall be struck, and the remaining provisions will continue in full force and effect. Sections 1 (Using Otomo), 2 (Consent to receive electronic Communications), 6 (Transaction reversal), 8 (White Label Accounts), 10 (Disputes with other Otomo users), 11 (Your liability and actions Otomo, our Financial Service Providers, and the Financial Institution Partners may take), 14 (Disputes with Otomo), and 15 (General terms), as well as any other terms which by their nature should survive, will survive the termination of these Terms.


Definitions.

  • “Account” means a Otomo personal Account or White Label Account.
  • Account Information” means any and all information reported via our Financial Service Providers from the third-party financial institutions (banks or credit unions) that provide you with Your Bank Accounts. Account information may include for example: account and routing numbers, balances, transactions, and dates.
  • Application” means the platform, website, and/or application used by Otomo to provide and manage a Otomo Customer’s payments experience with a Dwolla White Label Account.
  • “Business Account” means an Account established primarily for business purposes and not primarily for personal, family, or household purposes.
  • “Communications” means the communications described in Section 2.1 (Communications).
  • “Dispute” means a dispute claim filed with Otomo as described in Section 10.1 (Dispute resolution).
  • “Otomo” means Paymation, Inc. and it’s properties, the web application at otomoapp.com the Otomo mobile applications, and Otomo’s successors, affiliates, or assigns.
  • “Overall Otomo Balance” means the all funds available in your Account. An Overall Otomo Balance represents funds held for your benefit by the Financial Institution Partners in a Holding Account managed via Dwolla. Your Overall Otomo Balance is comprised of both your Otomo Available Balance and your Otomo Savings Balance.
  • “Otomo Available Balance” means the funds held on your behalf for general purposes that are recorded by Otomo as separate from your Otomo Savings.
  • Otomo Savings Balance” means the funds held on your behalf as “Savings” that are recorded by Otomo as separate from your Otomo Available Balance.
  • “Otomo Credit” means the line of credit product issued by Comenity Capital Bank as described in Section 9.1 (Otomo Credit).
  • “Otomo Services” means all products and services, including Accounts, offered by Otomo through our websites, applications, or through any other means.
  • “Facilitator” means a third-party or third-party software that facilitates your payment as described in Section 3.2 (Facilitator Fee).
  • “Facilitator Fee” means the fee charged by a Facilitator.
  • “Financial Institution Partners” means Compass Bank, its successors, affiliates, and assigns, and Veridian Credit Union and its successors, affiliates, and assigns.
  • “FinCEN” means the United States Department of the Treasury's Financial Crimes Enforcement Network.
  • “Government Account” means an Account established by a government entity primarily for government purposes and not for personal, family, or household purposes.
  • “Holding Account” means one or more pooled holding accounts held by the Financial Institution Partners. A HOLDING ACCOUNT IS NOT ELIGIBLE FOR FDIC INSURANCE, OR INDIVIDUAL INSURANCE AND MAY NOT BE ELIGIBLE FOR SHARE INSURANCE OFFERED BY THE NATIONAL CREDIT UNION SHARE INSURANCE FUND. IN THE EVENT OF A FINANCIAL INSTITUTION PARTNER RECEIVERSHIP, YOU MAY LOSE VALUE.
  • “Non-profit Account” means an Account established primarily for non-profit purposes and not for personal, family, or household purposes.
  • “Reversal Fee” means the fee that may be charged for any Reversal associated with your Account.
  • “Reversal” means Otomo's reversal of a payment you received because: (a) the sender requests a reversal of the payment, (b) the sender’s bank or credit union requests a reversal of the payment, or (c) Otomo decides a Dispute against you.
  • “Terms” means these Otomo Terms of Service, as may be amended from time to time.
  • “Us”, “we” or “our” refers to Otomo.
  • “Virtual Currency” means a medium of exchange that operates like a currency in some environments, does not have all the attributes of real currency, and is subject to regulatory guidance by FinCEN. Virtual Currency includes cryptocurrencies, including, but not limited to Bitcoin, Litecoin, Namecoin, and Peercoin.
  • “White Label Account” means a Dwolla Account opened and used by a Otomo Customer solely on Otomo’s Application.
  • “Otomo Customer” means a person or entity opening and/or using a Otomo Account through our Application.
  • Otomo Plan” means any plan created through the Otomo Services, which has the purpose of moving money one or more times. Otomo offers many types of plans ranging from one-time transactions to scheduled transactions (transactions that may be made automatically on certain dates) to action-triggered transactions (such as a savings transaction that may occur whenever a new deposit is made from a particular company). Some Otomo Plans allow users to set conditions that determine if, when, and how much scheduled transactions will be.
  • White Label Provider” means the third-party provider that manages a Otomo Customer’s payments experience in its Application.
  • “White Label Provider Services” means the products and services of Dwolla that Otomo provides to a Otomo Customer through its Application.
  • “You” or “your” means any person or entity using the Otomo Services.
  • “Your Bank Accounts” means any accounts provided by third-party financial institutions with which you have customer relationships, maintain account(s) or engage in financial transactions.
Terms

©, Copyright Paymation, Inc. 2019; Patent 10,074,091; Other Patents Pending.