Last updated: August 16, 2023
Welcome to DailyPay Cycle Program!
We want you to completely understand the DailyPay Cycle Program. These DailyPay Cycle Program Terms (“Cycle Payment Terms”) are a contract and explain important things you should know about the DailyPay Cycle Program.
The PNC EarnedIt Program Terms are available at https://www.dailypay.com/legal/pncearnedit/program-terms/.
Capitalized terms used in these Cycle Payment Terms have the meanings provided in Section 7 below.
Other Languages: We may offer you a version of these Cycle Payment Terms in another language to facilitate your understanding of these Cycle Payment Terms, but in case of disputes or controversies the English version will prevail.
1. If the Hiring Entity Participates, DailyPay Cycle Program Allows You to Receive Payments for Off-Cycle Amounts
As described more specifically below, DailyPay Cycle Program allows you, if the entity to which you provide services (the “Hiring Entity”) participates in the DailyPay Cycle Program, to receive amounts that the Hiring Entity owes you that do not arise from your regular pay, such as net bonus pay, incentive pay, expense reimbursements, termination pay, and other off-cycle amounts that do not arise from the regular pay, wage or salary payment cycle. We will not charge you a fee for the DailyPay Cycle Program feature described in this Section 1.
For clarity, the DailyPay Cycle Program does not relate to your regular pay. Instead, the DailyPay Program relates to your regular pay. Here is how the DailyPay Cycle Program feature works:
From time to time, the Hiring Entity may choose to use DailyPay Cycle Program in connection with your Cycle Amount.
As a participant in the DailyPay Program, you link at least one of your own bank accounts, which may be a paycard, to your DailyPay account. From time to time, we will ask you to confirm your linked bank account for your receipt of payments. When we deliver to you the Cycle Payments, you give us all right, title, and interest to the related Cycle Amount. We will deliver the Cycle Payments to your linked bank account.
We do not assume any liabilities or duties related to any Cycle Amount: any such liabilities and duties will remain solely with you. By giving us your right, title, and interest in and to your Cycle Amount, you agree that we can stand in your shoes and receive payment for the Cycle Amount from the Hiring Entity.
Our right to receive your Cycle Amount is non-recourse and is not intended to create any debt obligation owed by you to us. This means that if the Hiring Entity pays us an amount that is less than the amount of the Cycle Amount—for example, if the Hiring Entity is unable to pay because its business has slowed down or closed in the ordinary course of business—and if you have not breached these Cycle Payment Terms, then you will owe us nothing. Under such circumstances, we will have no legal or contractual claim or remedy against you based on our inability to collect the full amount of the Cycle Payments, and we will not engage in debt collection activities against you, treat the Cycle Amount as a debt or sell it to a third party, or report you to a consumer reporting agency.
We know that having the right to receive your Cycle Amount has associated risks, and we assume these risks based on the representations, warranties, and promises you make in these Cycle Payment Terms. You agree that the provisions of these Cycle Payment Terms are designed to give us a reasonable and fair opportunity to receive the benefit of our transaction with you.
Your participation in the DailyPay Cycle Program does not require you to set up new direct deposit arrangements with the Hiring Entity. As a participant in the DailyPay Program, you receive from us a DailyPay Routing and Account Number for an account that we establish for your participation in the DailyPay Program. The same DailyPay Routing and Account Number is used for your participation in the DailyPay Cycle Program. You agree to make direct deposit arrangements with the Hiring Entity using your DailyPay Routing and Account Number as the account of record in the Hiring Entity’s payments processes for amounts the Hiring Entity owes you that do not arise from your regular pay, such as net bonus pay, incentive pay, expense reimbursements, termination pay, and other off-cycle amounts that do not arise from the regular pay, wage, or salary payment cycle. You agree to instruct the Hiring Entity to direct all such net bonus pay, incentive pay, expense reimbursements, termination pay, and other off-cycle amounts that do not arise from the regular pay, wage, or salary payment cycle to your DailyPay Routing and Account Number, and you authorize us to convey such instructions to the Hiring Entity on your behalf. This means that when the Hiring Entity runs its payments processes, all of your net bonus pay, incentive pay, expense reimbursements, termination pay, and other off-cycle amounts that do not arise from the regular pay, wage, or salary payment cycle will be directly deposited in the account bearing the DailyPay Routing and Account Number. For each such payment, we will keep any Cycle Amount and any Daily Earnings, and you will receive the Cycle Payments less any such Daily Earnings in your primary linked bank account.
The DailyPay Cycle Program is not compatible with debit cards. If you have a debit card associated with your DailyPay account that is not also the debit card associated with your primary bank account, payments related to DailyPay Cycle Program will be delivered to the primary bank account you designated for receipt of payments, even if payments related to the DailyPay Program are delivered to the other linked debit card.
You must notify us immediately if your linked bank account information changes. If you do not, your DailyPay account and your participation in DailyPay Cycle Program, including your payments or Cycle Amount, 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 DailyPay’s control and which you may resolve with your bank. You may change the linked bank account we have on file for you through the Services by changing your DailyPay account settings. If you have any difficulty changing your settings, you may email us a request for assistance at: email@example.com.
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 agree that such transactions are subject to the terms of the third-party service providers. You authorize us and these third-party service providers to interact with your linked bank account to the extent necessary to provide you the DailyPay Cycle Program.
2. You Consent to the Hiring Entity Sharing Data with Us and Receiving Data from Us
The DailyPay Cycle Program relies upon information from the Hiring Entity about you. You consent to the Hiring Entity sharing data required for us to provide DailyPay Cycle Program. This includes:
- The information you consented to the Hiring Entity sharing with us in connection with the DailyPay Program;
- Your gross and net bonus or other incentive payment information;
- Your travel, entertainment, and other business expense and reimbursement details, including transaction receipts, reports, and other related documentation;
- Your payment information, including information related to payment corrections, paid time off, and termination pay;
- Your employment status, including your termination date, if applicable; and
- Any other related data shared by the Hiring Entity.
DailyPay only requests information from the Hiring Entity that is required to provide the DailyPay Cycle Program, and such information is not shared outside of DailyPay, other than with regulators, the Hiring Entity, and DailyPay’s service providers that are necessary to provide the DailyPay Cycle Program.
If your DailyPay account is closed, you authorize us to inform the Hiring Entity and to provide the Hiring Entity for payment and expense reimbursement purposes the linked bank account information and related information we have on file for you. You consent to your Cycle Amount being sent to the linked bank account we have on file for you after your DailyPay account is closed unless you specify otherwise.
3. You Authorize Electronic Payments to Your Linked Bank Account
You authorize DailyPay to initiate Automated Clearing House (“ACH”) payments to your primary linked bank account. You agree that ACH transactions you authorize comply with law. We may reverse erroneous transactions in accordance with National Automated Clearing House Association rules. The availability of funds in your primary linked bank account will depend on the funds availability policy of the financial institution holding your primary linked bank account, which may limit the availability of such funds, including through use of “cut-off times” by which items must be deposited to be processed on a given day. If you change your primary linked bank account or add additional linked bank accounts, you authorize DailyPay to initiate ACH payments to such linked bank accounts on the same terms described in this Section 3. The authorizations in this Section 3 will remain in full force and effect until your DailyPay account is closed, as provided in Section 2.
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 Cycle Amount;
- 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 Cycle Amount) that has, individually or in the aggregate, an adverse effect on our ability to collect on or retain any Cycle Amount; and
- You will not use the DailyPay Cycle Program to obtain more than the Cycle Amount you are owed by the Hiring Entity, including receiving payments on the Cycle Amount from both DailyPay and another person for the same obligation. If you receive a payment on the Cycle Amount from the Hiring Entity or someone other than DailyPay, you must notify us immediately and hold the amount in trust for our benefit.
5. You Make Certain Representations and Warranties to Us
You represent and warrant to us on a continuing basis that:
- These Cycle Payment 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 Cycle Payment 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 Cycle Payment Terms that, if adversely determined, would be reasonably expected to have an adverse effect on our ability to collect on or retain any Cycle Amount; and
- You have not used any name with us or with the Hiring Entity other than the name you used or verified to establish your DailyPay account.
And each time you use the DailyPay Cycle Program to receive your Cycle Amount, you also represent and warrant to DailyPay that at the time we deliver the Cycle Payments:
- You hold all legal right, title, and interest to and in the Cycle Amount, free and clear of any liens, encumbrances, judgments, or garnishments; and you have not sold, pledged, assigned, or encumbered the Cycle Amount to any third party;
- The Cycle Amount is presently and unconditionally owing and has not been modified, dismissed, settled, or paid; is not currently past due; and represents the amount owed by the Hiring Entity arising solely from your actual and timely provision to the Hiring Entity in the ordinary course of business of lawful services or of advancement of expenses, which you have accurately recorded and described to the Hiring Entity;
- The Cycle Amount is 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 Cycle Amount or its underlying services or advancement of expenses.
6. You Are Responsible for All Disputes Between You and the Hiring Entity
The DailyPay Cycle Program relies upon information about you that the Hiring Entity provides to DailyPay. Sometimes the Hiring Entity might disagree with you about the amount of the Cycle Amount you earned, you advanced, or the amount that it owes you. We do not resolve or otherwise become involved in Disputes between you and the Hiring Entity. Instead, resolving such Disputes is your sole responsibility.
7. Definitions Used in These Cycle Payment Terms
The following terms used in these Cycle Payment Terms have the following meanings:
- “Cycle Amount” means the right to payment owed to you by the Hiring Entity that is not part of the regular fee, wage, or salary payment cycle, such as (A) earned or accrued but unpaid or other incentive payments, travel, entertainment, or other business expenses, (B) termination payments, relating to services you have provided, (C) amounts you have advanced on behalf of the Hiring Entity or its customers and any other related rights, (D) payment corrections, (E) paid time off, and (F) other off-cycle amounts that do not arise from the regular fee, wage, or salary payment cycle. For clarity, the Cycle Amount does not include your regular pay.
- “Cycle Payments” means the Cycle Amount we have agreed to make available to you.
- “Cycle Payment Terms” means these DailyPay Cycle Program Terms.
- “DailyPay,” “our,” “us,” and “we” mean DailyPay, Inc.
- “DailyPay Cycle Program” means a Service offered by DailyPay to facilitate the payment of Cycle Amounts.
- “DailyPay Program” has the meaning set forth in the opening paragraphs of the DailyPay Terms of Service.
- “DailyPay Routing and Account Number” means an account and routing number (which account and routing number DailyPay may change from time to time) that DailyPay establishes for your participation in the DailyPay Program.
- “Dispute” means a situation in which the Hiring Entity questions, objects, denies, challenges, or contradicts the quality, quantity, or other aspect of any of your services or advanced expenses that are related to the Cycle Amount, and is unwilling to pay or claims a right to recover any portion of the Cycle Amount.
- “Services” has the meaning set forth at the top of the DailyPay Terms of Service.