Smart Pay Agreement

We’ve tried to write our Step Smart Pay Agreement in a way that’s blissfully free of the legalese that often clouds these documents. You should read our entire Step Smart Pay Agreement below, but here are some of the basics you can review in just a few minutes. Of course, if you still have questions about anything in our Step Smart Pay Agreement, just contact us.

Step Smart Pay has combined multiple products in banking by utilizing technology and automation. Step's unique credit card and FDIC insured deposit account work seamlessly together to bring the benefits of both traditional products with zero risk, fees, costs or maintenance. You get the benefits, we do the work for you. We offer these benefits to you through Step's innovative platform design with Step Smart Pay. Step Smart Pay will help you make your payments on time so that you can avoid:

  • Paying fees or interest on your Step Account

  • Unintentionally overspending or overdrawing your Step Account

  • Missing your Step Card payments

This Step Smart Pay Agreement (“Agreement”) is made between you (“you” “your”) and Evolve Bank & Trust (“we”, “us”, “our”) and sets forth the terms and conditions of your use of the Step Smart Pay service, which enables you to automatically make your monthly payments on your Step Account (consisting of your “Card Account(s)” and “Secured Deposit Account(s)”). Capitalized terms not defined in this Agreement shall have the meanings defined to them in your Step Account Agreement.

By accepting this Agreement (including the Step Smart Pay Authorization below), you authorize us or our service provider (including Step Mobile, Inc. (“Step”)) to automatically process your monthly payments for the amount due on your Card Account(s) by debiting your Secured Deposit Account on each payment due date.

Smart Pay for your Secured Card Account

How it works

When you make a transaction with your Step Card on your Secured Card Account (as defined in your Step Account Agreement), we place a hold on funds in your Secured Deposit Account (equal to the amount of the transaction). On each monthly due date, we will automatically use those funds to pay the amount you owe on your Secured Card Account. This helps you make all of your payments on time, so that you do not pay late payment fees or interest on your Step Secured Card Account. You get the benefits, we do the work for you.

Step Smart Pay Authorization

By agreeing to this Step Smart Pay Agreement, you authorize Evolve Bank & Trust (or its service provider, including Step) to electronically debit your Secured Deposit Account, in the amount you owe on your Secured Card Account, on each payment due date, as indicated on your monthly statement. You also authorize us to make any debits or credits to your Secured Deposit Account necessary to correct any errors. If any payment due date is not a business day, the payment will be processed on the next business day. For purposes of this authorization, "business day" means Monday through Friday, excluding federal banking holidays. If any payment attempt fails, the payment may be re-initiated up to two additional times, as permitted by law and payment network rules.

This authorization will remain in full force and effect until you notify Step that you wish to revoke this authorization by emailing support@step.com at least 5 business days before your next payment due date. If we do not receive notice at least 5 business days before the next payment due date, we may attempt, in our sole discretion, to cancel the next transaction. However, we assume no responsibility for our failure to do so. Please note that revoking this authorization will not cancel any payment that is initiated before your revocation becomes effective.

You acknowledge that the amount of each monthly payment that will be made with the Step Smart Pay service may vary, and your monthlystatements for your Step Account will be the only notice that you will receive of the amount of each monthly payment and payment due date.

If you revoke this authorization, your payments will not be made automatically, and you will need to make payments you owe on your Secured Card Account using another payment method permitted under your Step Account Agreement.

Smart Pay for your Credit Line Card Account

How it works

On each monthly due date for your Credit Line Card Account, we will automatically use funds from your Step Account to pay the amount you owe on your Credit Line Card Account This helps you make all of your payments on time, so that you do not pay late payment fees or interest on your Credit Line Card Account. You get the benefits, we do the work for you.

Step Smart Pay Authorization

By agreeing to this Step Smart Pay Agreement, you authorize Evolve Bank & Trust (or its service provider, including Step) to electronically debit your Secured Deposit Account, in the amount you owe on your Credit Line Card Account, on each payment due date, as indicated on your monthly statement. You also authorize us to make any debits or credits to your Secured Deposit Account necessary to correct any errors. If any payment due date is not a business day, the payment will be processed on the next business day. For purposes of this authorization, "business day" means Monday through Friday, excluding federal banking holidays. If any payment attempt fails, the payment may be re-initiated up to two additional times, as permitted by law and payment network rules.

This authorization will remain in full force and effect until you notify Step that you wish to revoke this authorization by emailing support@step.com at least 5 business days before your next payment due date. If we do not receive notice at least 5 business days before the next payment due date, we may attempt, in our sole discretion, to cancel the next transaction. However, we

assume no responsibility for our failure to do so. Please note that revoking this authorization will not cancel any payment that is initiated before your revocation becomes effective. You acknowledge that the amount of each monthly payment that will be made with Step Smart Pay may vary, and your monthly statements for your Step Account will be the only notice that you will receive of the amount of each monthly payment and payment due date.

If you revoke this authorization, your payments will not be made automatically, and you will need to make payments you owe on your Credit Line Card Account using another payment method permitted under your Step Account Agreement.

Important information

If we do not complete a payment on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance: (1) If, through no fault of ours, you do not have enough money in your account to make the transfer. (2) If our system was not working properly, and you knew about the breakdown when you started or authorized the transactions. (3) If circumstances beyond our control (such as fire or flood) prevent the payment, despite reasonable precautions that we have taken. (4) There may be other exceptions stated in your Step Account Agreement.

If your payment fails or is late or insufficient for any of these reasons, you may be required to pay fees and interest on any past-due amount, according to your Step Account Agreement.

Please print or save a copy of this Step Smart Pay Agreement for your records.