Introduction

Welcome to Envel! This website is operated by us at Envel, Inc. We realize that reading terms and conditions is one of the most boring things on earth to do, but we legally have to put this here and you’re gonna have to say you’ve read and accepted it (sorry, we don’t make the rules!) So, to summarize and make your lives a little easier here are 5 bullet points that cover the most important bits (for your own sanity)

1. We offer a unique banking service exclusively on your mobile device that does not involve interaction between customers and bank clerks at branch level. We do not provide credit or loan services because we like to keep it easy, free, and straight forward.
2. You are free to open and close your account with us whenever you choose, however when you hold an account with us, you should provide correct and complete account information and should keep it confidential. You are our top priority.
3. All information that you submit to us should be owned by you, or you should have the right to use and submit it, the content should meet the standards of these ToS.
4. You should not use our Service for illegal activities and to harm us and other users and third parties.
5. We take no responsibility for your actions while using the Service and the choices that you make while using the Service. We may choose to close your account at any time. These Terms of Service (ToS) govern your access to our services. These ToS together with our Privacy Policy, which you can find here affect your legal rights and obligations.

I. Who are we

We are Envel, Inc., a Delaware corporation ("Envel", "We" or "Us'). We are located at 75 State Street, Suite 100 , Boston, MA 02109 and if you would like to reach us you can e-mail us at hello@envel.ai.

II. What we do and what we offer

We provide a digital consumer banking service comprising of full bank account and debit card, aimed at automating the management of the user’s finances using AI with real time guidance. Our patent pending technology is unique in the industry and allows us to split the user’s income in to four main accounts that we call envelopes; cash, emergency, bills and vault. We allow the user to create as many envelopes as they wish to organize their money, from holidays, to goals, to shared envelopes with friends. Our banking service is exclusively which is delivered through a mobile application and does not involve interaction with customers at branch level. For avoidance of any doubt we do not offer any form of credit, overdraft, credit card and loans. We only strive to help our Users manage their funds.

III. Basic definitions you will see in these ToS

"Application(s)" means Envel's iOS and Android banking applications built to provide Envel's services. "Content" means any material that exists on our Website and Service consistent with these ToS from any origin and in any form whether digital, electronic, posted, deleted, archived, embedded, linked or contained in any subpage of the Website and Service or existing as data, designs, text, images, graphics, video recording, or code whether object, source or otherwise, which is provied by us or the Users. "Service" means Envel's online banking service. "User" means any person and/or entity that has subscribed to use Envel's digital consumer banking service.

IV. How old do you need to be to use our services

In order to use our services, you need to be at least [13] years old or 16 if you are based in the E.U. If you are younger than 13 or 16, please do not use our Website and Service.

V. How to open and use your account with us

5.1. Before you can use our services, you will need to register an account by completing an on-line registration form with your details and the selected account details. Please make sure that all information you provide on the form is true and complete. 5.2. Once your account is confirmed, it will be your responsibility to keep all your account data (such as username, password and other related information) confidential. Please make sure to notify us in the event of unauthorized access to your account and other brach of security. If you decide that you no longer need your account with us, you will have the option to delete at at any time. 5.3. Likewise we also reserve the right to terminate or suspend your account if we consider necessary due to violation of these ToS, request by a regulatory, investigatory, law enforcement, government or judicial agency/entity or any other legal grounds. You agree to release us from any liability incurred by you as a result of our termination/suspension of your account and that you shall indemnify, defend and otherwise hold us harmless for any liability, claims, damages, liens, penalties, fines or fees (including attorney’s fees and/or accounting fees) which we may incur or are brought against us by any party as a result, either directly or indirectly of our decision to terminate your account.

VI. Ownership of the Service

6.1. Our Service, including the Website and the Applications, their entire contents, features and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement thereof), are owned by us, our licensors or other providers of such material and are protected by United States and international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws. 6.2. You are allowed to use our Service, Website and Applications for the purpose of managing and maintaining your bank account(s) with us and authorizing bank transactions, which include the following limited rights in our Service, Website and Applications: - temporary storage of copies of the of the above referenced materials in the RAM of your computer, mobile or electronic device; - storage of files that are automatically cached by your browser for display enhancement purposes. - the right to print or download one copy of the above referenced materials for your own personal, non-commercial use and not for further reproduction, publication or distribution. 6.3. Outside the scope of the above license and unless you are expressly authorized, you do not have permission to reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store or transmit any of the materials within our Service, Website and Applications. Further you are not allowed to delete or alter any copyright, trademark or other proprietary rights notices from the materials posed or used within our Service, Website and Applications. 6.4. If you use materials in our Service, Website and Applications and our intellectual property rights in breach of this license and these ToS, your right to use and access our Service will be terminated and you will be asked to return or destroy the materials you have obtained in violation of these ToS.

VII. Our Trademarks

The name Envel and all related names, logos, product and service names and designs are trademarks of Envel, Inc. or our affiliates or licensors; those marks cannot be used without our prior written permission or the permission of their respective owners.

VIII. What you cannot use our Service for

Our Service can only be used for lawful purposes and in accordance with these ToS. You should not use our Service to: (a) violate any applicable federal, state, local or international law or regulation, including but not limited to money laundering, financial crimes, cybercrimes, etc.; (b) exploit, harm or attempt to exploit or harm minors; (c) stalk, abuse, send sexually explicit communication, threaten, intimidate, defame, insult, make racially offensive statements, or otherwise harass any user or other individual; (d) transmit, or procure the sending of, any advertising or promotional material without our prior written consent, including any “junk mail”, “chain letter” or “spam” or any other similar solicitation. (e) impersonate or attempt to impersonate Envel, any of our employees or agents, another user or any other person or entity; (f) engage in any other conduct that restricts or inhibits anyone’s use or enjoyment of our Service, or which, as determined by us, may harm Envel or our users or expose us or them to liability. (g) solicit other users of the Service into engaging into an illegal and unlawful activities and not to conspire with other users into soliciting or committing such activities; (h) use the Service in any manner that could disable, overburden, damage, or impair the Service or interfere with any other party’s use of the Service. (i) use any robot, spider or other automatic device, process or means to access the Service for any purpose; (j) use any device, software or routine that interferes with the proper working of the Service and introduce any viruses, trojan horses, worms, logic bombs or other material which is malicious or technologically harmful; (k) attempt to gain unauthorized access to, interfere with, damage or disrupt any parts of the Service or any server, computer or database and in anyway interfere with the proper working of the Service. (l) modify, adapt, sublicense, translate, sell, reverse engineer, decipher, decompile or otherwise disassemble any portion of the Service, its materials and content; (m) manipulate identifiers in order to disguise the origin of any information or material transmitted to or through the Service;

IX. Your User Content

9.1. We may allow you to post, submit, publish, display or transmit to us, other users or other persons content or materials through the Service ("User Content"). All such User Content shared on our Service is considered non-confidential and non-proprietary and you shall own all rights in the User Content and shall grant us and all our affiliates and service providers the exclusive, unlimited, transferable, sub-licenseable worldwide right to use, reproduce, modify, perform, display, distribute, license and otherwise disclose to third parties any such material contained in the User Content for any purpose. You understand and acknowledge that you are fully responsible for any User Content you submit or contribute, and you, have full responsibility for such content, including its legality, reliability, accuracy and appropriateness. 9.2. Envel shall not be responsible or liable for the content or accuracy of any User Content submitted or shared through our Service. Envel reserves the right to remove any User Content upon our discretion if we consider this necessary to prevent violation of these ToS, infringement of intellectual property rights, other personal and property rights or could create liability for us. We have the right to fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity or other information of anyone posting any materials on or through the Service.

X. Our right to monitor the Service

10.1. We reserve the right to: (a) monitor any User Content and your use of the Service for any or no reason in our sole discretion; (b) take any action with respect to any User Content or use of the Service that we deem necessary or appropriate in our sole discretion; (b) disclose your identity or other information about you to any third party who claims that material posted by you or your use of the Service violates their rights, including their intellectual property rights or their right to privacy. (c) take appropriate legal action, including without limitation, referral to law enforcement, for any illegal or unauthorized use of the Service. (d) terminate or suspend your access to all or part of the Service for any or no reason, including without limitation, any violation of these ToS. (e) YOU WAIVE AND HOLD HARMLESS ENVEL AND ITS AFFILIATES, LICENSEES AND SERVICE PROVIDERS FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY ENVEL/ANY OF THE FOREGOING PARTIES DURING OR AS A RESULT OF ITS INVESTIGATIONS AND FROM ANY ACTIONS TAKEN AS A CONSEQUENCE OF INVESTIGATIONS BY EITHER ENVEL/SUCH PARTIES OR LAW ENFORCEMENT AUTHORITIES. 10.2. We do not undertake to review any Content before it is posted on the Website and the Platform, and cannot ensure prompt removal of objectionable material after it has been posted. Accordingly, we assume no liability for any action or inaction regarding transmissions, communications or content provided by any User or third party. We have no liability or responsibility to anyone for performance or nonperformance of the activities described in this section.

XI. Linking from and to our Website

11.1. You may link to our Website, but you should do so in a way that is fair and legal and does not damage our reputation or take advantage of it. You must not establish a link in a way that suggests any form of association, affiliation, approval or endorsement on our part without our express written consent. We reserve the right to withdraw any linking permission without notice 11.2. We do not take responsibility and do not endorse any third party websites, services and content available on or linked to by us.

XII. We can amend the Service

We reserve the right to make amendments to our Service, its features, functionality and Content, in our sole discretion without notice. We may also suspend or withdraw our Service for which we will try to give you reasonable notice. We will not be liable if for any reason our Service is unavailable in whole or in part at any time or for any period. From time to time, we may restrict access to some parts of the Service, or the entire Service.

XIII. User Fees

13.1. We provide the banking service to you free of charge.

XV. Service is provided on 'as is' basis

YOUR USE OF THE WEBSITE, THE SERVICE, CONTENT AND ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE AND THE SERVICE IS AT YOUR OWN RISK. THE WEBSITE AND THE SERVICE, THE CONTENTS AND ANY SERVICES OR ITEMS OBTAINED THROUGH THEM ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER ENVEL NOR ANY PERSON ASSOCIATED WITH ENVEL MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY OR AVAILABILITY OF THE WEBSITE AND THE SERVICE. NEITHER ENVEL NOR ANYONE ASSOCIATED WITH ENVEL REPRESENTS OR WARRANTS THAT THE WEBSITE AND THE SERVICE, ITS CONTENT OR ANY SERVICES OR ITEMS OBTAINED THROUGH THEM WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT THE WEBSITE AND THE SERVICE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE AND THE SERVICE WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS. ENVEL HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE. THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

XVI. Our liability to you is limited

IN NO EVENT WILL ENVEL, ITS AFFILIATES OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE WEBSITE AND THE SERVICE, ANY CONTENT ON THE WEBSITE AND THE PLATFORM OR SUCH OTHER WEBSITES OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE AND THE SERVCE OR SUCH OTHER WEBSITES, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT OR OTHERWISE, EVEN IF FORESEEABLE. IN ADDITION WE WILL NOT BE LIABLE TO YOU FOR ANY LOSS OR DAMAGE ARISING UNDER OR IN CONNECTION WITH YOUR RELIANCE ON OUR SYSTEM AND SERVICE AND YOUR RELIANCE TO ANY CALCULATIONS MADE BY THE SERVICE WITH REGARD TO YOUR FINANCIAL STATUS. THE FOREGOING DOES NOT AFFECT ANY LIABILITY WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

XVII. You agree to indemnify us

You agree to defend, indemnify, and otherwise hold Envel, its officers, directors and employees, agents, and/or heirs and assigns of any of the same harmless, from and against any claims, losses, liabilities, suits, actions, damages, demands, fees, sanctions, penalties, judgments, awards or like costs or expenses, including, without limitation, reasonable attorneys’ and accounting fees, made by any party due to or resulting from your use of our website, system or services, including without limitation any use or submission by you of any offensive, unauthorized, false or infringing content of any kind, any failure to properly transmit or handle any form of health or nutrition information or personally identifiable information or any other violation of these terms of service, our privacy policy or any other contract which we may have with you.

XVIII. Law governing these ToS

All matters relating to the Service, the Website and these ToS and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the internal laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction). Any legal suit, action or proceeding arising out of, or related to, these ToS or the Website and the Service shall be instituted exclusively in the federal courts of the United States or the courts of the State of Delaware although we retain the right to bring any suit, action or proceeding against you for breach of these ToS in your country of residence or any other relevant country. You waive any and all objections to the exercise of jurisdiction over you by such courts and to venue in such courts.

XIX. Severability

If any provision of these Terms of Service is held by a court or other tribunal of competent jurisdiction to be invalid, illegal or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Terms of Service will continue in full force and effect.