Acorns Early Gifting Terms of Use

Last Updated December 17, 2020

These Acorns Early Gifting Terms of Use (“Terms”) and the Acorns Terms of Use are between you (“you,” “your,” or “Contributor”) and Acorns Grow Incorporated, and its subsidiaries (“Acorns”, "we", "us", or "our"), and govern your use of the Acorns Early Gifting Service described below. In the event of a conflict between these Terms and the Acorns Terms of Use, these Terms control with respect to your use of the Acorns Early Gifting Service.  Our Privacy Policy also governs your use of the Acorns Early Gifting Service.  For the avoidance of doubt, Contributors that utilize other Acorns services remain bound by their agreements governing use of such other services.  These Terms supplement, and do not supplant, any existing agreements you might have with Acorns. 

1. Access and Scope of Services 

1.1 Access and Eligibility.  The Acorns Early Gifting Service is only available to persons that are at least eighteen (18) years of age and legal residents of the United States. If you accept these Terms, you represent that you have the capacity to be bound by them or if you are acting on behalf of a company or entity, that you have the authority to bind such company or entity. Your use of and access to the Acorns Early Gifting Service are subject at all times to these Terms, and our Privacy Policy. By using or accessing the Acorns Early Gifting Service or by clicking to agree to these Terms when that option is made available to you, you represent that you have read and understand these Terms and our Privacy Policy and you agree to be bound by these Terms and our Privacy Policy. If you do not agree to all the terms and conditions of these Terms and our Privacy Policy, do not use or access the Acorns Early Gifting Service.

1.2 The Acorns Early Gifting Service.  The Acorns Early Gifting Service is service that enables friends and family to contribute to a Uniform Transfers to Minors Act (“UTMA”) account or Uniform Gifts to Minors Act (“UGMA”) account (each contribution, a “Contribution”; each account, an “Account”).  These Accounts are custodial accounts held by third party custodians (“Custodians”) for the benefit of minors.  Custodians can request unique Acorns Early Gifting Service links for each beneficiary.  Custodians can then share those links with others to enable such persons to make Contributions.  Persons who receive and click on such links are “Contributors.”

1.3 Modification of Terms. We may amend these Terms at any time.  The Terms governing a particular Contribution will be displayed to you during the checkout process.  A link to such Terms will also be emailed to you. You can see when these Terms were last revised by referring to the “Updated” legend above.  No amendment or modification of these Terms will be binding unless in writing and signed by our duly authorized representative. 

2. User Content 

2.2 Contributor Content. If you choose to do so, you may leave a note for the beneficiary of any Account that you fund. Any such content supplied by you is known as “Contributor Content.”  

2.3 Disclosure of Contributor Content.  You agree that by submitting a Contribution, Acorns may share with the Custodian of the Account to which you make a Contribution: (1) your name; (2) the amount of your Contribution; and (3) any Contributor Content you provide. 

2.4 Restrictions on Contributor Content.  You are solely responsible for your Contributor Content and compliance with all laws pertaining to your Contributor Content, including, but not limited to, laws requiring you to obtain consent of a third party to use the Contributor Content and to provide appropriate notices of third-party rights.  You will not post, upload, publish, submit or transmit any Contributor Content that violates the Acorns Terms of Use or any other Acorns terms, standards, or policies applicable to the Acorns Early Gifting Service. 

2.5 Acorns Use of Contributor Content.  By creating, uploading, posting, sending, receiving, storing, or otherwise making available any Contributor Content on or through the Acorns Early Gifting Service, you grant to Acorns a non-exclusive, worldwide, royalty-free, irrevocable, perpetual, sub-licensable and transferable license to access, use, moderate, view, analyze, store, copy, modify, prepare derivative works of, distribute, publish, transmit, stream, broadcast, and otherwise exploit in any manner such Contributor Content, in Acorns’ sole discretion.  Except as stated herein, Acorns does not claim any ownership rights in any Contributor Content and nothing in these Terms will be deemed to restrict any rights that you may have to use or exploit your Contributor Content.

2.6 Removal of User Content. Acorns may, in its sole discretion and without prior notice or liability to you, remove or disable any Contributor Content that Acorns finds to be in violation of applicable law, these Terms, or Acorns’ policies or standards, or otherwise may be harmful or objectionable to Acorns, Custodians, or third parties.

2.7 Prohibited Uses.  In connection with your use of the Acorns Early Gifting Service, you will not and will not assist or enable others to:

• Violate any law, statute, ordinance or regulation;
• Offer or receive payments for the purpose of bribery or corruption;
• Engage in money laundering or other illegal activity; or
• Otherwise use the Acorns Early Gifting Service except as expressly allowed under these Terms.

3. Payment Terms, Fees and Taxes

3.1 Payment Methods.  To make a Contribution, you must provide a valid debit card issued by a United States depository institution. By providing debit card information, you represent and warrant that you have the right to authorize us to charge the debit card provided for Contributions. 

3.2 Third Party Payment Processing. Acorns partners with Stripe, a third-party payment processor (“Processor”), to facilitate Contributions.  All payments of funds are governed by the Processor’s user agreement.  Acorns is not responsible or liable for the performance of Processor or any actions taken by the Processor pursuant to such Processor’s terms and conditions including without limitation, declining your transaction, holding your funds, or requesting additional information from you. Acorns merely facilitates such transactions by collecting information from Contributors necessary to enable the payment processing and submitting it to Processor. 

3.3 Fees.  You agree to pay the fee set forth in the checkout page, ("Processing Fee") for each Contribution.  You are responsible for paying any Processing Fee that you owe.  We may change the Processing Fee at any time without prior notice.  Any such Processing Fee will be displayed to you at checkout.

3.4 Refunds: Processing Fees and Contributions are non-refundable.

3.5 Taxes.  Your Contribution may have gift tax consequences or other tax implications.  You are solely responsible for determining your obligation to report, collect, and remit all taxes, duties, and other governmental assessments associated with your activity in connection with your Contribution.  Please note that Acorns and its affiliates do not provide tax advice.  Please consult your tax advisor for advice based on your particular circumstances.

3.6 Receipts and Confirmations.  All receipts and confirmations associated with a Contribution made by you will be sent to the email address you provide to Acorns.  

4. Term, Termination, Suspension

4.1 Termination by Acorns.  Acorns may suspend, limit, or terminate your access to or use of the Acorns Early Gifting Service, discontinue the Acorns Early Gifting Service or any portion or feature of the Acorns Early Gifting Service, or terminate these Terms at any time, for any reason, without notice, liability, or other obligation to you.  Upon termination, you shall cease use of the Acorns Early Gifting Service. 

4.2 Termination by You. You may terminate these Terms by discontinuing all use of the Acorns Early Gifting Service.  Any new or continued use of the Acorns Early Gifting Service will be subject to these Terms. 

5. Indemnity.

5.1 In addition to any other indemnification provisions set forth in other agreements between you and Acorns, you agree to indemnify and hold harmless Acorns and its affiliates and each of their managing members, officers, equity holders, employees, partners, parents, subsidiaries, agents, affiliates, and licensors ("Affiliates") from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising from or relating to (a) your use of, or activities in connection with, the Acorns Early Gifting Service; or (b) your violation of these Terms. Acorns reserves the right to assume the exclusive defense and control of any matter otherwise subject to indemnification by you and, in such case, you agree to cooperate with Acorns’ defense of such claim.

5.2 You hereby irrevocably waive and release Acorns and its Affiliates from all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with any dispute you may have with any other Custodian or Contributor. If you are a California resident, you waive California Civil Code §1542, which says: "A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.” If you are a resident of another jurisdiction in which any other statute or common law principles of similar effect applies, you waive the application of such statute or common law with respect to the claims, demands and damages (actual and consequential) released under this paragraph.

6. General Provisions

6.1 Dispute Resolution and Governing Law.  All disputes regarding the Acorns Early Gifting Service or these Terms shall be governed by the Acorns Terms of Use, including the Binding Arbitration and Applicable Law provision, as applicable.  These Terms shall be governed by and interpreted in accordance with the laws of the State of California, excluding its conflict of laws provisions.  For proceedings (other than small claims actions) that are excluded from arbitration, you agree that they shall be resolved exclusively in the U.S. District Court for the Central District of California or a state court located in Orange County.

6.2 Assignment.  You may not assign these Terms, whether by operation of law, change of control, merger, asset sale, or otherwise, without Acorns’ prior written consent. Acorns may assign or transfer these Terms, at its sole discretion, without restriction.

6.3 Entire Agreement.  These Terms, the Acorns Terms of Use, and any documents incorporated into these Terms by reference, constitute the entire agreement between you and us regarding the Acorns Early Gifting Service and supersedes all prior agreements and understandings, whether written or oral, or whether established by custom, practice, policy or precedent, with respect to the subject matter of these Terms. 

6.4 Survival. Provisions of these Terms that, by their terms, require performance after the termination or expiration of these Terms will survive.

6.5 No Waiver. No failure by Acorns to enforce any of its rights related to the Acorns Early Gifting Service or to a breach of these Terms in a particular situation will act as a waiver of such rights.

6.6 Severance.  If any provision of these Terms is judged illegal, invalid, or otherwise unenforceable, that provision shall be severed and the rest of these Terms shall remain in full force and effect.

6.7 No Third-Party Beneficiaries. No person or entity not a party to these Terms will be deemed to be a third-party beneficiary of any provision hereof.