Welcome to Wagestream’s Terms of Service
Last updated January 5, 2020
Welcome to Wagestream!
We want you to completely understand the Wagestream Service. These Wagestream Service Terms (“Service Terms”) explain important things you should know about the Wagestream Service.
By using the Wagestream Service, you agree to these Service Terms and the Wagestream Site Terms available at: https://www.Wagestream.com/site_terms. Please read these Service Terms carefully. If you access or use the platform, you agree to be bound by them.
Capitalized terms used in these Service Terms have the meanings provided in Section 9 below.
1. The Wagestream Service Provides You with Free Informational and Budgeting Tools
Wagestream provides software to your employer to help your employer manage and administer its payroll processes, including the timing of payments of payroll funds, by integrating its payroll, time management, workforce management, other human resources systems, and certain employee communications systems. The Wagestream Service provides you with information and budgeting tools, which you can use for free. The information and tools the Wagestream Service provides you can help you monitor the hours you have worked, analyze and predict your net pay, and obtain a better picture of how much money you have earned so you can budget.
2. The Wagestream Service provides You with Access to Your Unpaid Earnings, for a Transaction Fee
In addition to the information and budgeting tools described in Section 1, you can use the Wagestream Service to access, for a transaction fee, some or all of the money you have already earned (i.e., your Unpaid Earnings).
Here is how this feature works:
From time to time, you may log into your Wagestream account and ask us to access some or all of your Unpaid Earnings. You must link one of your own bank accounts to your Wagestream account, and each time you ask us to access any Unpaid Earnings, we will ask you to confirm your linked bank account for your receipt of payments. We will also tell you how much of your Unpaid Earnings we are willing to provide, and we will disclose our transaction fee to you. When you make the transaction, you give us all right, title, and interest to the related Available Earnings, and we will send the Amount Provided to your linked bank account.
Our right to receive your Available Earnings is non-recourse. This means that if your employer pays us an amount that is less than the amount of the Available Earnings—for example, if your employer is unable to make payroll because its business has slowed down or closed in the ordinary course of business—and if you have not breached these Service Terms, then you will owe us nothing.
We know that having the right to receive your Available Earnings has associated risks, and we assume these risks based on the representations, warranties, and promises you make in these Service Terms. You agree that the provisions of these Service Terms are designed to give us a reasonable and fair opportunity to receive the benefit of our transaction with you.
Before you can use the feature described in this Section 2, you will need to set it up with your employer. You will receive a Wagestream Routing and Account Number from us for an account that we establish for your participation in the Wagestream Service. You agree to make direct deposit arrangements with your employer using your Wagestream Routing and Account Number as the account of record in your employer’s payroll system. You agree to instruct your employer to direct all of your net pay to that account, and you authorize us to convey such instructions to your employer on your behalf. This means that when your employer runs payroll, all of your net pay will be directly deposited in the account bearing the Wagestream Routing and Account Number. For each pay period, we will keep any Available Earnings, and you will receive the rest of your Unpaid Earnings in your linked bank account.
You must notify us immediately if your linked bank account information changes. If you do not, your Wagestream account and your participation in the Wagestream Service, including your payments or Available Earnings and Unpaid Earnings, could be adversely impacted. We are not liable for any of these adverse impacts. We also do not control when your bank posts incoming payments to your linked bank account, so there may be delays which are beyond Wagestream's control and which you may resolve with your bank. You may also change the linked bank account we have on file for you through the Site by changing your Wagestream account settings. If you have any difficulty changing your settings, you may email us a request for assistance at: [insert].
We may use third-party service providers to interact with your linked bank account, including obtaining and exercising your authority to manage and initiate debit and credit transactions involving your linked bank account. You authorize us and these third-party service providers to interact with your linked bank account to the extent necessary to provide you the Wagestream Service.
We reserve the right, in our sole discretion, to delay, suspend, or terminate your access to your Wagestream account, your participation in the Wagestream Service, and payments if we believe there has been fraudulent or suspicious activity related to your Wagestream account.
3. You Consent to Your Employer Sharing Employment Data with Us and Receiving Data from Us
The Wagestream Service relies upon information from your employer about you. You consent to your employer sharing employment data required for us to provide the Wagestream Service. This includes:
- Your name;
- Your employee identification number;
- Your contact information (including your email and your mobile phone number);
- Your earnings and timecard information;
- Your gross and net pay;
- Your bank account information (for purposes of facilitating payments); and
- Any other related data shared by your employer.
Wagestream only requests information from your employer that is required to provide the Wagestream Service, and such information is not shared outside of Wagestream, other than with regulators, your employer, and Wagestream’s service providers that are necessary to provide the Wagestream Service.
Wagestream cannot provide retroactive access to Unpaid Earnings that arose before you established your Wagestream account.
If your Wagestream account is closed, you authorize us to inform your employer and to provide your employer for payroll purposes the linked bank account information and related information we have on file for you. You consent to your pay being sent to the linked bank account we have on file for you after Wagestream account is closed unless you specify otherwise.
4. Rules of the Road
You promise us that:
- You will take all actions, including the execution of documents requested by us, to preserve and protect our right, title, and interest in and to any Available Earnings;
- You will not take any action or make any omission (including redirecting payments, or placing or allowing placement of a lien or security interest on any Available Earnings) that has, individually or in the aggregate, an adverse effect on our ability to collect on or retain any Available Earnings; and
- You will not use the Wagestream Service to obtain more Unpaid Earnings than you have earned, including receiving payments on the Available Earnings from both Wagestream and another person for the same work. If you receive a payment on the Available Earnings from your employer or someone other than Wagestream, you must notify us immediately and hold the amount in trust for our benefit, or if we otherwise learn that you are expected to receive such a payment from your employer or someone other than Wagestream, and in either case we may debit your linked bank account in the amount of the Available Earnings, as provided in Section 7, or otherwise provide remittance instructions to you.
5. You Make Certain Representations and Warranties to Us
You represent and warrant to us on a continuing basis that:
- These Service Terms constitute a legal and valid contract that is binding on you and enforceable against you as written;
- The execution, delivery, and performance of these Service Terms by you does not violate any law or the provisions of any agreement to which you are bound;
- There are no claims, actions, suits, audits, inquiries, proceedings, or governmental investigations pending or threatened involving you or the transactions contemplated by these Service Terms that, if adversely determined, would be reasonably expected to have an adverse effect on our ability to collect on or retain any Available Earnings; and
- You have not used any name with us or with your employer other than the name you used or verified to establish your Wagestream account.
- And each time you ask us to access any of your Unpaid Earnings, you also represent and warrant to Wagestream that at the time of your request:
- You hold all legal right, title, and interest to and in the Unpaid Earnings, free and clear of any liens, encumbrances, judgments, or garnishments; and you have not sold, pledged, assigned, or encumbered the Unpaid Earnings;
- The Unpaid Earnings are presently and unconditionally owing and have not been modified, dismissed, settled, or paid; are not currently past due; and represent the amount owed by your employer arising solely from your actual and timely provision to your employer in the ordinary course of business of lawful services, which you have accurately recorded and described to your employer;
- The Unpaid Earnings are not subject to any Dispute, claim, offset, deduction, discount, defense, or counterclaim of any kind; and
- There has been no error, misrepresentation, negligence, fraud, omission, or violation of law on the part of you with respect to the Unpaid Earnings or their underlying services.
6. You Are Responsible for All Disputes Between You and Your Employer
The Wagestream Service relies upon information from your employer about you. Sometimes your employer might disagree with you about the amount of Unpaid Earnings you earned or the amount that it owes you. We do not resolve or otherwise become involved in Disputes between you and your employer. Instead, resolving such Disputes is your sole responsibility. You must notify us of any Dispute immediately but in no event more than five days of becoming aware of it, and you must work directly with your employer to resolve the Dispute. A Dispute is resolved when your employer pays the full amount of the disputed Available Earnings. You will provide Wagestream periodic updates, as requested by Wagestream, regarding the status of the Dispute.
You must resolve any Dispute related to the Available Earnings within 30 days of becoming aware of it. If you are unable to resolve a Dispute related to the Available Earnings within 30 days of becoming aware of it, then you must immediately send us payment in the amount of the Amount Provided but in no event more than three additional days. If we learn that you did not send us payment pursuant to this paragraph, we may debit your linked bank account as provided in Section 7.
7. We May Debit Your Linked Bank Account to Correct Errors, Fraud, and Other Breaches of these Service Terms
You authorize us to initiate an ACH account debit from your linked bank account in the amount specified below whenever any of the following events occur:
- If we pay you an amount you did not request or more than the Amount Provided due to an operational error, then the difference up to the amount of the error;
- If you directly receive any payment on the Available Earnings from your employer or someone other than Wagestream pursuant to Section 4, or if we learn that you are expected to receive such a payment from your employer or someone other than Wagestream, then up to amount of the Available Earnings you received; or
- If you otherwise receive or retain an Amount Provided that was determined with respect to Available Earnings in excess of those to which you were legally entitled to receive from your employer, misdirect funds from Wagestream, or commit any other act (or omit any other act) that is a breach the representations, warranties, or promises of Sections 4, 5, or 6 (including if you are unable to resolve a Dispute related to the Available Earnings and did not send us payment), then up to the Amount Provided.
If we decide to debit your linked bank account, we will notify you at least one business day before we debit your account; provided, if we reasonably and in good faith believe that you have defrauded or intend to defraud us, we may notify you contemporaneously with the debit transaction. In addition to exercising the ACH account debit authority you provide us in this Section 7, we retain the right to pursue any other remedy permitted by law or equity.
8. We Have the Right of Setoff
We have the right of setoff, and we may offset against any outstanding or uncollected amounts owed to us by you from any amounts we would otherwise be obligated to furnish to you or any amounts we might otherwise owe you under these Service Terms or any other agreement. If we decide to exercise our right of setoff, we will notify you at least seven days before we exercise it. In addition to exercising our right of setoff, we retain the right to pursue any other remedy permitted by law or equity.
9. Definitions Used in These Service Terms
The following terms used in these Service Terms have the following meanings:
- “Amount Provided” means the amount of the Available Earnings, minus our transaction fee. Our transaction fee is deducted from the payments to you that we facilitate.
- “Available Earnings” means the Unpaid Earnings we have agreed to make available to you before your employer runs payroll for a specified transaction fee.
- “Wagestream,” “our,” “us,” and “we” mean Wagestream, Inc.
- “Wagestream Service” means a Service offered by Wagestream that you can use to access, for a transaction fee, some or all of your Unpaid Earnings.
- “Wagestream Routing and Account Number” means an account and routing number that Wagestream establishes for your participation in the Wagestream Service.
- “Dispute” means a situation in which your employer questions, objects, denies, challenges, or contradicts the quality, quantity, or other aspect of any of your services that are related to the Unpaid Earnings, and is unwilling to pay or claims a right to recover any portion of the Unpaid Earnings.
- “Service Terms” means these Wagestream Service Terms.
- “Service” has the meaning set forth at the top of the Wagestream Site Terms.
- “Site” has the meaning set forth at the top of the Wagestream Site Terms.
- “Site Information” has the meaning set forth in Section 3 of the Wagestream Site Terms.
- “Unpaid Earnings” means the right to payment (e.g., account receivable) owed to you by your employer arising out of services you have provided to your employer or its customers and any other related rights.
- “User Content” means, in addition to information that is made available to Wagestream through your use of the Wagestream Service, information about you that you provide Wagestream, including information about your financial, personal, or professional activities.