Terms of Service

1. General Terms

Plently is a financial technology platform that provides community-based financial services to underserved and emerging clients. Our core services include Savings Circles, Money Circles, and Payment Services. Plently is not a bank; banking services are provided by our licensed banking partners.

You must be at least 18 years old and a resident of the United States to use the Plently mobile app. We may introduce new features in the future, such as gift cards, BNPL shopping options, or other financial tools, which will be governed by these Terms or additional terms as applicable.

2. Savings and Money Circles

Circles allow individuals or groups to collaboratively save money toward a shared financial goal over a defined period of time.

By participating in a Circle, you agree to the following cycle:

• Creation Date:

  A user can create a Circle today, but the start date must be set to a future date — e.g. tomorrow.

• Duration

  The Circle is configured to run based on the frequency selected at the point of creation  (e.g., daily, weekly, biweekly and yearly).

• Deduction Schedule:

  Assuming the frequency selected was daily:

• First Deduction:

  Occurs 24 hours after the Savings Circle start time on the first day. This means after the end of a cycle

• Subsequent Deductions:

  Occur once daily for the remaining duration of the circle (i.e., on consecutive days).

• Last Deduction:

  Occurs on the final day of the circle (e.g., on Friday if the circle started on Wednesday and runs for 3 days).

• Payout Schedule:

  The payout is automatically triggered 2 hours after the final deduction.

  Specifically, this means the payout happens 2 hours after 12:00 a.m. on the last day (e.g., 2:00 a.m. on Friday).

Example Scenario

• Creation Date: Tuesday, June 3rd
• Start Date: Wednesday, June 4th
• Duration: 3 days, 2 cycles

Participants are responsible for ensuring that their linked funding source (e.g., bank account, card, or wallet) has sufficient funds before each scheduled deduction. Plently is not liable for failed transactions due to insufficient funds or banking errors.

Eligibility

• Users who miss a scheduled deduction may become ineligible for the final total payout.
• Eligibility is assessed algorithmically, and Plently reserves the right to review and adjudicate disputes on a case-by-case basis.

Additional Notes

• All Circle settings—such as contribution amount, duration, and payout recipient—must be set during creation and cannot be altered once the Circle starts.
• Participation is voluntary. By joining a Circle, users accept the terms outlined and acknowledge their financial responsibility within the Circle structure.
• Plently provides reminders and notifications to assist with timely contributions, but it remains the user’s responsibility to monitor and maintain sufficient funds.

3. Payment Services

Plently offers peer-to-peer payment functionality, account-linked debit cards, and payment tracking.

• Peer-to-peer payments are available to verified users within the Plently network.
• Debit cards issued through Plently are subject to the terms of our banking partner.
• You must comply with all identity verification (KYC) and anti-money laundering (AML) requirements.
• We may suspend or terminate access to payment services for suspicious or prohibited activities.

4. Prohibited Conduct

Users of the Plently app must not:

• Use the platform for illegal, fraudulent, or abusive purposes.
• Share account credentials or impersonate another person.
• Circumvent or attempt to reverse-engineer the app or its security measures.
• Engage in activity that could harm Plently, other users, or financial institutions.

5. Disclaimers and Limitations of Liability

Users of the Plently app must not:

• Plently provides services “as is” and does not guarantee uninterrupted or error-free performance.
• We are not responsible for losses due to user error, unauthorized access, or third-party actions.
• Financial decisions made using the app are solely your responsibility.

6. Updates and Modifications

Plently may update these Terms at any time. Continued use of the app after changes are posted constitutes your acceptance of the revised Terms.

7. Contact Us

For questions about these Terms, please contact: support@plently.com

By using the Plently mobile app, you acknowledge that you have read, understood, and agree to these Terms of Use.