Sparrow Mastercard Automatic Payments Terms and Conditions

Authorization. By enrolling in the Sparrow Automatic Payments Program (the “Program”), you authorize Sparrow to automatically deduct the payment amount you have chosen (referred to herein as the “Automatic Payment Amount”), from your designated Deposit Account (the “Deposit Account”) each month and apply such amount against your Credit Card Account as a payment.

Deposit Account Eligibility. Automatic Payments can be made only from a checking or savings account at a financial institution in the United States.

Deposit Account Ownership and Authority. You represent and warrant to us that you are at all times the owner or authorized signor of the Deposit Account and have full authority to access, transfer, and withdraw funds from the account for purposes of the Program.

Scheduling Payments. You are solely responsible for providing proper instruction to the Program to ensure that each Payment is posted on or before the applicable due date and is for at least the amount of the Minimum Payment Due in accordance with the Agreement.

Insufficient Funds. If there are insufficient funds in your Deposit Account to complete the Automatic Payment initiated on the specified payment date, Sparrow may, but is not obligated to, continue to attempt to deduct the Automatic Payment from your Deposit Account until successful.

Termination. You can terminate your use of the Program by providing notice to Sparrow at least three (3) business days prior to the scheduled Automatic Payment date. We reserve the right to temporarily or permanently suspend your use of the Program without notice, including but not limited to, ceasing the initiation of Automatic Payments if your Deposit Account declines and/or reverses the funds.

Termination shall not affect your liability for obligations occurring prior to such termination. Upon termination, you are solely responsible for determining which Payments have been initiated or not initiated by the Program and for taking whatever action outside of the Program as may be necessary with respect to your Sparrow Credit Card Account.

Finance Charge Warning. If you choose to pay less than the New Balance on your monthly Credit Card Statement, finance charges will be assessed according to the terms of your Cardmember Agreement.

Processing Generally. As long as the Automatic Payment is successfully completed and not returned for insufficient funds, your Sparrow Credit Card Account will be credited as of the Payment Date. Note that even though an Automatic Payment is made as of the Payment Date for the calculation of fees and interest, the amount of the Automatic Payment may not be available for reborrowing under your Credit Card Account credit limit for an additional reasonable period of time. All payments will be processed in US Dollars.

Limitations on frequency and dollar amounts of Payments. You may use the Program to initiate Automatic Payments only to your Credit Card Account. Sparrow has established certain Payments may be subject to certain Payment Parameters (e.g., Minimum Interval, Maximum Amount) established by us and may change from time to time without notice. (B) Instructing us to initiate Automatic Payments from Deposit Accounts with restrictions on the number or type of transfers permitted in any one day or any one month or other similar period may result in the inability to initiate Automatic Payments from your Deposit Account.

For security reasons, we may limit the type, number or dollar amount of any Automatic Payments notwithstanding the amount in your Deposit Account, and we may temporarily or permanently suspend the Program without notice unless otherwise required by law or regulation, including but not limited to ceasing the initiation of Automatic Payments.

Automatic Payment Amount. You agree you have read and understood the explanation of the three different types of Automatic Payment Amounts offered by Sparrow below and have selected the option that best suits your needs with an understanding that the Automatic Payment Amount may vary from month to month and the monthly statement will be the only notice of the Automatic Payment Amount.

Minimum Payment Due. The Automatic Payment will be the minimum payment due shown on your Credit Card Statement in the box marked “Minimum Payment Due,” and will not take into account any additional payments or credits posting to your Account after the Credit Card Statement is sent, except that we will never allow the amount of the Automatic payment Amount withdrawn from your Deposit Account to exceed the Current Balance outstanding on your Credit Card Account.

Statement Balance. The Automatic Payment will be the amount shown on your Credit Card statement in the box marked “New Balance,” and will not take into account any additional payments or credits posting to your Credit Card Account after the Credit Card Statement is sent, except that we will never allow the amount of the Autoamtic Payment withdrawn from your Deposit Account to exceed the Current Balance outstanding on your Credit Card Account.

Fixed Amount. If you select Fixed Amount, you will need to select a specific dollar amount you wish to be deducted from your Deposit Account and applied against your Credit Card Account as a payment. The Automatic Payment Amount may be adjusted so that the Automatic Payment Amount will never be more than the Current Balance outstanding on your Credit Card Account.

Changes. We reserve the right, at our sole discretion, to modify or replace any of these Automatic Payment Terms at any time. Upon any change in these Automatic Payment Terms we will post the amended agreement on the Services; we may also attempt to notify you in some other way. We will indicate at the top of this page the date these Automatic Payment Terms were last revised. Your continued use of the Services following the posting of any changes to the Automatic Payment Terms constitutes acceptance of those changes.

Contact. If you have any questions about these Terms, or your Automatic Payment, you may contact us at 1-800-839-9797 or by writing a letter to: Sparrow, 113 Cherry St. # 87446, Seattle, WA 98104.

Please print a copy of this agreement and keep it for your records.