Terms of Service

Effective Date: [INSERT DATE]
Last Updated: [INSERT DATE]

Welcome to Payhist. These Terms of Service ("Terms") govern your use of the Payhist platform and services. By creating an account or using our services, you agree to be bound by these Terms.

1. Acceptance of Terms

By accessing or using Payhist's services, you agree to these Terms, our Privacy Policy, and any additional terms that may apply to specific features or services. If you do not agree, you may not use our services.

2. Eligibility

To use Payhist, you must:

• Be at least 18 years of age
• Be a resident of a state where Payhist is licensed to operate
• Have a valid bank account in your name
• Provide accurate and complete information during registration
• Have verifiable income from employment or gig work

3. Description of Services

3.1 Earned Wage Access

Payhist provides earned wage access (EWA) services, allowing you to access a portion of your earned but unpaid wages before your regular payday. This service is NOT a loan. You are accessing money you have already earned.

3.2 Subscription Model

Access to Payhist services requires a monthly subscription fee of $16.99. This fee is charged monthly and provides unlimited access to draw against your earned wages up to your eligible amount.

3.3 Transfer Options

• Standard Transfer: Free 3-day ACH transfer to your bank account
• Instant Transfer: $3.95 per transaction for delivery within approximately 30 seconds

4. Eligibility Amount

Your eligible amount (the maximum you can access) is determined by:

• Your verified income sources
• Your repayment history with Payhist
• The amount you have earned but not yet been paid
• Our risk assessment and underwriting criteria

Eligible amounts range from $25 to $200 depending on the factors above. Payhist reserves the right to adjust your eligible amount at any time based on changes in your financial situation or payment history.

5. Fees and Charges

5.1 Subscription Fee

$16.99 per month, charged on the same date each month. Your subscription automatically renews unless you cancel.

5.2 Instant Transfer Fee

$3.95 per instant transfer transaction. This is optional - you may use standard 3-day ACH transfers at no additional charge.

5.3 No Hidden Fees

Payhist does not charge:

• Interest or APR on advances
• Late fees
• Overdraft fees
• Membership fees beyond the monthly subscription
• "Voluntary" tips or suggested payments

6. Repayment Terms

6.1 Automatic Repayment

When you receive your next paycheck, Payhist will automatically debit your bank account for the full outstanding balance. You authorize us to initiate ACH debits from your linked bank account.

6.2 Repayment Schedule

Repayment is due on your next scheduled payday. If you have multiple income sources, repayment will be scheduled based on your primary verified income source.

6.3 Full Balance Requirement

You must repay your full outstanding balance before requesting additional advances. Partial repayments do not restore access to new advances.

6.4 Non-Recourse

Important: Payhist advances are non-recourse. This means:

• We will not send your account to debt collectors
• We will not report to credit bureaus
• We will not pursue legal action for unpaid amounts
• However, you will lose access to Payhist services until you repay your balance

7. Account Management

7.1 Your Responsibilities

You agree to:

• Maintain accurate and current account information
• Keep your login credentials secure and confidential
• Notify us immediately of any unauthorized account access
• Maintain sufficient funds in your bank account for repayment
• Update your bank account information if it changes

7.2 Account Security

You are responsible for all activity on your account. Do not share your login credentials with anyone. Notify us immediately at support@payhist.com if you suspect unauthorized access.

8. Subscription and Cancellation

8.1 Cancellation

You may cancel your subscription at any time through your account settings or by contacting customer support. Cancellation takes effect at the end of your current billing period.

8.2 Obligations After Cancellation

Even after cancellation, you remain responsible for repaying any outstanding advances. You will not be able to request new advances after cancellation.

8.3 No Refunds

Subscription fees are non-refundable. If you cancel mid-month, you will retain access through the end of your billing period but will not receive a prorated refund.

9. Prohibited Uses

You may not:

• Provide false or misleading information
• Use Payhist for any illegal purpose
• Create multiple accounts
• Attempt to circumvent our eligibility or risk assessment systems
• Use automated systems to access our services
• Reverse engineer or attempt to extract source code from our platform
• Use Payhist if you are insolvent or in bankruptcy proceedings

10. Termination

Payhist reserves the right to suspend or terminate your account at any time if:

• You violate these Terms
• You provide false information
• We detect fraudulent activity
• You fail to repay advances
• We are required to do so by law or regulation
• We cease operations in your state

Termination does not relieve you of your obligation to repay outstanding advances.

11. Privacy and Data Use

Your privacy is important to us. Please review our Privacy Policy to understand how we collect, use, and protect your personal information.

By using Payhist, you consent to:

• Our collection and use of your financial and employment data
• Sharing data with our service providers (payment processors, identity verification, etc.)
• Our use of your data to assess eligibility and prevent fraud

12. Electronic Communications

By using Payhist, you consent to receive electronic communications from us, including:

• Account notifications and updates
• Transaction confirmations
• Repayment reminders
• Marketing communications (you may opt out)
• Legal notices and policy updates

13. Disclaimers and Limitations of Liability

13.1 Service Availability

Payhist services are provided "as is" without warranties of any kind. We do not guarantee uninterrupted access or error-free operation. We may modify, suspend, or discontinue services at any time.

13.2 Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, PAYHIST SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM YOUR USE OF OUR SERVICES.

Our total liability to you for any claim shall not exceed the amount of fees you paid to Payhist in the 12 months preceding the claim.

13.3 Third-Party Services

We use third-party service providers for payment processing, identity verification, and other services. We are not responsible for errors or failures caused by these third parties.

14. Dispute Resolution

14.1 Informal Resolution

Before pursuing formal dispute resolution, please contact us at legal@payhist.com to attempt to resolve the issue informally.

14.2 Arbitration Agreement

[NOTE TO USER: Include arbitration clause if desired - must be reviewed by attorney and comply with state consumer protection laws]

14.3 Class Action Waiver

[NOTE TO USER: Include class action waiver if desired - must comply with applicable laws]

15. Governing Law

These Terms are governed by the laws of [INSERT STATE] without regard to conflict of law principles. Any disputes shall be resolved in the courts of [INSERT COUNTY/STATE].

16. Regulatory Compliance

16.1 State Licenses

Payhist is licensed as an Earned Wage Access provider in the following states:

• Missouri (License #[INSERT NUMBER])
• Texas (Registration/License #[INSERT NUMBER IF APPLICABLE])

16.2 Not a Loan

Payhist advances are not loans. We do not charge interest or make credit decisions based on creditworthiness. Advances are based solely on your earned but unpaid wages.

16.3 NMLS Disclosure

NMLS #[INSERT NUMBER WHEN OBTAINED]

17. Changes to Terms

We may update these Terms from time to time. We will notify you of material changes by:

• Email to your registered email address
• Notice in the app or website
• Updating the "Last Updated" date at the top of this page

Continued use of Payhist after changes take effect constitutes acceptance of the new Terms.

18. Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

19. Assignment

You may not assign or transfer your rights or obligations under these Terms. Payhist may assign these Terms to any successor or affiliate without your consent.

20. Entire Agreement

These Terms, together with our Privacy Policy and any additional agreements, constitute the entire agreement between you and Payhist regarding use of our services.

21. Contact Information

For questions about these Terms, please contact:

Payhist, LLC
[INSERT ADDRESS]
Email: legal@payhist.com
Phone: [INSERT PHONE NUMBER]
Support: support@payhist.com

22. State-Specific Disclosures

22.1 Missouri Residents

Payhist is licensed under Missouri Revised Statutes Chapter 361 as an Earned Wage Access provider. License #[INSERT]. For complaints, contact the Missouri Division of Finance at [INSERT CONTACT].

22.2 Texas Residents

[INSERT TEXAS-SPECIFIC DISCLOSURES IF REQUIRED]