Agreement and Disclosures Requirements

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WARNING

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.

Term of Service and Privacy Policy

The Terms of Service & Privacy Policy language will be provided to you by your Sila Onboarding Specialist.

  1. Includes ONE checkbox TWO separate hyperlinks.
    • One hyperlink to your Terms of Service
    • One hyper lint to your Privacy Policy
  2. Both of these documents must include the required language.
    • The language will be provided to you by your Sila Onboarding Specialist.
  3. End Users must have hyperlink access to your Terms of Service & Privacy Policy at any time from within the application or via a link on the website.

*Reminder: The Terms of Service & Privacy Policy can not be live and public until immediately after being granted production access from Sila.*

End User Account Agreement

The End User Evolve Customer and Business Account Agreement will be provided to you by your Sila Onboarding Specialist.

  1. You must maintain an active web page that provides the End User with an easy and direct way to view the applicable Account Agreement in one of two ways:
    • Initiating the download of a screen-readable PDF version of the Account Agreement supplied by Sila; or
    • Maintaining a dedicated page on the website associated with the platform that is unchanged in text from the Account Agreement template supplied by Sila and maintains the same formatting.
  2. 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 End User Account Agreement can not be live and public until immediately after being granted production access from Sila.*

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Account Agreement Formatting Requirements

If you chose not to provide your end users with a way to download the screen-readable PDF version provided by Sila then the formatting provided in the pdf must remain unaltered.
Not heading this requirement can cause delays with Evolve approval.

End User Account Agreement Disclosure and Consent

The End User Evolve Customer and Business Account Agreement Disclosure and Consent will be provided to you by your Sila Onboarding Specialist.

  1. 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.
  2. You must maintain operable hyper links in the Disclosure and Consent to Sila’s terms and policies.
  3. You must make the Account Agreement readily accessible to the End User by any of the following means:
    • Maintaining an operable hyperlink in the disclosure and consent to redirect to the applicable Account Agreement (which cannot be available pre-production access, as provided above)
    • Otherwise providing a way for the End User to read the Account Agreement prior to consenting (i.e., scroll, download, etc.).
  4. You must includes a checkbox or form field that the End User must use to indicate they accept the terms of the applicable Account Agreement and Sila’s terms and policies prior to calling Sila’s API to register the End User or create wallets.
  5. 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)
    • user_handle
    • email address
    • IP address
    • time stamp of electronic signature
    • webpage/link the End User viewed and agreed to

*Reminder: The End User Account Agreement Disclosure and Consent can not be live and public until immediately after being granted production access from Sila.*

Additional Required Disclosures

  1. 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.

  1. 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.*

Ready for a Demo Review?

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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.