OPENING MYSTASH ACCOUNT
To successfully open an account with us, there are 3 things you need to know;
You understand that in order to open a MyStash Account you are required to link your bank account with your MyStash account by logging into your bank account on our app to grant us access through our third-party service provider to your financial records, WE DO NOT STORE OR SAVE YOUR BANK LOGIN INFORMATION.
For purposes of such access and authorization, you hereby grant myStash and our third-party service providers a limited power of attorney, and you hereby appoint myStash and our third-party service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, place, and stead, in any and all capacities, to access third-party websites, servers, and documents; retrieve information; and use your User Information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as you might or could do in person.
YOU ACKNOWLEDGE AND AGREE THAT WHEN MYSTASH OR OUR THIRD-PARTY SERVICE PROVIDERS ACCESS AND RETRIEVE INFORMATION FROM SUCH THIRD-PARTY WEBSITES, MYSTASH, AND OUR THIRD-PARTY SERVICE PROVIDERS ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY.
You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you. You understand and agree that the Services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement. As between myStash and our third-party service providers, myStash owns your confidential User Information.
We may suspend access to your MyStash Account, and your use of the App and Services, if it comes to our attention that any of your Account Information is false, misleading, or inaccurate.
NOTE that your MyStash Account is ONLY for your own personal use. You must not use your MyStash Account for commercial purposes, or on behalf of the benefit of a third party. We will suspend or close your MyStash Account if you do not comply with this paragraph.
You agree not to authorize any other person or entity to use your email address and password or mobile device to access the Services. You are solely responsible for the maintenance, confidentiality, and security of your username, password, and other User Information. Except as otherwise required by applicable law, you are responsible for all transactions and other activities authorized or performed using your username and password or mobile device, whether authorized or unauthorized by you. Except as otherwise expressly stated in these Terms or required by applicable law, we are not responsible for any losses arising out of the loss or theft of your User Information or your mobile device or from unauthorized or fraudulent transactions associated with your Bank Account or your MyStash Account. If you suspect or become aware of any unauthorized activity or access to your username, password, or mobile device, you must contact us immediately at [email protected]
OPERATING MYSTASH ACCOUNT
MyStash is an application setup to help you save money easily and conveniently. When you opt for Cash Reserve, you invariably authorize the payment of a specific amount to be made automatically from your Linked Account to your MyStash Account daily, weekly or monthly. Once set, you can change the frequency of the payments for your Cash Reserve. You however cannot change the details of your linked card, if you need to change the details of a Linked Card, you must contact us by email at [email protected]. Any request made to stop autosave made less than 24 hours prior to the next scheduled payment may take effect after the next scheduled payment is made, and we will not be responsible for any inconvenience or loss caused as a result. You must then re-create the Cash Reserve and link the new debit card and bank account to it. If a Linked Card expires, you must re-create your Cash Reserve, and link your new debit card.
When you opt for the Money Move option you authorize the payment of a percentage of all debits made from your linked bank account into your MyStash account, say you authorize 10% of debits from your linked bank account and you make a purchase worth #10,000 (Ten Thousand Naira) on your linked bank account you are automatically debited #1000 (One Thousand Naira) which is 10% and same is saved into your MyStash account.
When you opt to for our Profit by myStash services, you authorize myStash to create a Virtual Bank Account for you and execute whatever standing instructions you set on those accounts.
Please note that you are solely responsible for determining whether the funds debited from your debit card and the funds maintained in your MyStash Account are acceptable to you. We will not be responsible for any third-party fees that may be incurred as a result of using the Services, including, but not limited to, third-party fees incurred as a result of maintaining insufficient funds in your Bank Account.
MYSTASH FUNDS
The funds in your MyStash Account are pooled with those of other MyStash account holders and are held in a trust with ARM investment managers a licensed Funds Manager licensed by the Securities and Exchange Commission.
We declare that we hold the Pooled Funds on trust for each MyStash Account holder to the extent of each holder's respective Credit Balance in their MyStash Account. We will deal with your balance only in accordance with your instructions and these Terms. We may invest a portion or all of the Funds in government securities or transfer them to high-yield savings accounts.