Agreement and Disclosures Requirements (DDA)
Your Demo application and any associated links must be hosted in a DEV environment.
You are prohibited from using Sila and Evolve’s names, policies, and terms in any public materials until after the platform is approved. Therefore, the required language provided to you by Sila MAY NOT be on any live or public facing site prior Sila's banking partner completing their review and Production Access to being granted.
Failing to adhere to this warning will cause significant delays in your approval process, as Sila's banking partner will reject the submission and the review will be returned if the language is found on any live or public facing sites.
- Include ONE checkbox TWO separate hyperlinks.
- One hyperlink to your Terms of Service
- Both of these documents must include the required language.
- The language will be provided to you by your Sila Onboarding Specialist.
Evolve Account Agreement (Customer and Business)
The Evolve Customer and Business Account Agreement will be provided to you by your Sila Onboarding Specialist.
- You must maintain an active web page that provides the End User with an easy and direct way to view the applicable Evolve Account Agreement in one of two ways:
- Initiating the download of a screen-readable PDF version of the Evolve Account Agreement supplied by Sila; or
- Maintaining a dedicated page on the website associated with the platform that is unchanged in text from the Evolve Account Agreement template supplied by Sila and maintains the same formatting.
Evolve Account Agreement Formatting Requirements
If you chose to a create a dedicated page on the website for the Evolve (Customer or Business) Account Agreement that does not display the provided PDF then the formatting (CSS) on that webpage must be identical and unaltered from that of the formatting seen in the PDF version provided to you by Sila.
Not heading this requirement can cause delays with your demo approval.
- You must maintain a distinctive page for the Evolve Business Account Agreement if the platform has business End Users, and maintains a distinctive page for the Evolve Customer Account Agreement if the platform has individual consumer End Users, each with hyperlink text that clearly identifies the name of the applicable document.
*Reminder: The Evolve Account Agreement can not be live and public until immediately after being granted production access from Sila.*
Evolve Account Agreement Disclosure and Consent
The Evolve End User Customer and Business Account Agreement Disclosure and Consent will be provided to you by your Sila Onboarding Specialist.
- You must provide a conspicuous notice within the user interface (i.e., page or popup) containing clear text that is substantially the same as the Sample Agreement Disclosure and Consent provided.
- You must maintain operable hyper links in the Disclosure and Consent to Sila’s terms and policies.
- You must make the Evolve Account Agreement readily accessible to the End User by any of the means outlined above. See Evolve Account Agreementsection above.
- You must includes a checkbox or form field that the End User must use to indicate they accept the terms of the applicable Evolve Consumer or Business Account Agreement, Sila’s Terms and Policies, the Disclosures and Consent as well as the Evolve Electronic Communications Consent prior to calling Sila’s API to register the End User or creating a wallet.
- You must captures all elements of the end user’s Electronic Signature in association with the disclosure and consent and the applicable Account Agreement.
Required fields include:
- name (first and last)
- email address
- IP address
- time stamp of electronic signature
- webpage/link the End User viewed and agreed to
NOTE: This step must happen immediately after the end user checks the box agreeing to the items listed on the Agreement and Disclosures Requirements documentation and clicks any type of "next" button to move on. You must show in the demo video where in your database you are capturing these fields.
- If you have not yet collected the
email_addressthose columns can have a
nullfield in your database when you navigate to it in the demo. HOWEVER, you must return to your database, in the demo video, after calling the /register endpoint to demonstrate that you have now added the
email_addressfields for that end user.
*Reminder: The Evolve Account Agreement Disclosure and Consent can not be live and public until immediately after being granted production access from Sila.*
Additional Required Disclosures
- You must provide a reasonably visible notice within the user interface (i.e., footer, blip, scroll, page, or popup) capturing each of the following Additional Required Disclosures (but not necessarily requiring the End User’s active consent), as applicable:
Interest. A prominent statement that “the account does not accrue interest (APY 0.00%),” using large, bold, or distinctive font (only if the platform allows the End User to store value in Sila wallets)
Minimum Balance. Identification of any minimum balance required by the platform to open a wallet or avoid the imposition of any fee, as well as identification of methods the End User may use to fund the minimum balance, if applicable (only if the platform allows the End User to store value in Sila wallets)
Services and Features. Clear listing and description of all services, features, and transaction types available to the End User to deposit funds in a wallet, withdraw funds, or otherwise send or receive money.
Opening Fees. Identification of the amount of all fee(s) imposed directly or indirectly on the End User to register for the platform or otherwise open a wallet or transact, if any.
Note that charging wallet maintenance fees or ACH return fees to the End User is strictly prohibited.
Other Fees. Identification of all other fees the platform may impose on the End User, such as transaction fees or recurring subscription fees, if any, along with a clear statement that fees will be charged to the End User’s linked account or other external means.
Note that charging any fees whatsoever directly to an End User’s wallet is strictly prohibited.
Contact. Prominent statement instructing the End User to contact the platform’s approved End User support lines (email and phone) if the End User believes any transaction made in connection with their account was made without their permission or otherwise made in error or for an incorrect amount.
- The Additional Required Disclosures must be reasonably visible and accessible to the end user within the platform interface prior registering, adding a wallet or establishing a virtual account.
*Reminder: Additional Required Disclosures can not be live and public until immediately after being granted production access from Sila.*
Sign Up Page - SAMPLE:
Customer End User
Business End User
Ready for a Demo Review?
Double Check - Requirements before submitting!
Make sure you have not missed anything by double checking that you hit all the markers outlined above.
Head to the Demo Overview page see FAQ and to learn how to submit your sandbox application for a demo review.
Once received and added to the queue Demo Reviews can take up to 5 business days. Feedback will be sent to you via email from your Sila Onboarding Specialist.
Updated 7 days ago