Terms of Service
Please read these terms carefully before using SilverWay Bank services.
Last updated: January 9, 2025
Agreement to Terms
By using SilverWay Bank you agree to these terms. Continued use after any update constitutes acceptance.
1. Acceptance of Terms
By accessing or using SilverWay Bank services, you agree to be bound by these Terms of Service. If you do not agree to these terms, please do not use our services. By clicking "I Agree" or by continuing to use our platform, you acknowledge that you have read, understood, and agree to be bound by these Terms.
2. Account Registration
You must be at least 18 years of age to create an account. You agree to provide accurate, current, and complete information during registration and to update your information to keep it accurate. You are responsible for maintaining the confidentiality of your account credentials and for all activity that occurs under your account.
3. Permitted Use
SilverWay Bank services may only be used for lawful purposes. You agree not to use our services for any illegal activity, fraud, money laundering, terrorist financing, or any activity that violates applicable laws or regulations. We reserve the right to suspend or terminate accounts that violate these conditions.
4. Financial Services
Our platform provides digital financial services including account management, transfers, card services, loans, and savings tools. All services are subject to eligibility requirements, transaction limits, and applicable regulatory requirements. Loan amounts up to $60,000,000 are available subject to approval.
5. Fees and Charges
Certain services may be subject to fees as disclosed in our fee schedule. We reserve the right to modify fees with 30 days' prior notice. You agree to pay all applicable fees for services you use. Domestic transfers are typically free; international transfers may carry a small percentage-based fee.
6. Transaction Processing
We process transactions in accordance with your instructions. Transactions may be delayed or declined for security, compliance, or technical reasons. We are not liable for delays caused by third-party payment processors or banking networks. Approved loans are auto-disbursed within 10 minutes.
7. Account Security
You are responsible for all activity that occurs under your account. You agree to notify us immediately of any unauthorized access or suspicious activity. We employ bank-grade 256-bit SSL encryption and real-time fraud monitoring. We are not liable for unauthorized access resulting from your failure to secure your credentials.
8. Privacy and Data
Your use of our services is subject to our Privacy Policy, which is incorporated into these Terms by reference. By using our services, you consent to our collection and use of your personal information as described in the Privacy Policy. We do not sell your personal data.
9. Prohibited Activities
You agree not to use SilverWay Bank for illegal activities including money laundering or terrorism financing, fraudulent transactions or identity theft, violating any applicable laws, conducting transactions related to prohibited goods or services, or attempting to access another user's account without authorization.
10. Limitation of Liability
To the maximum extent permitted by applicable law, SilverWay Bank shall not be liable for any indirect, incidental, special, consequential, or punitive damages. Our total liability to you shall not exceed the amount of fees paid in the preceding 12 months. This does not affect any statutory rights you may have.
11. Dispute Resolution
Any disputes arising from these Terms or your use of SilverWay Bank services shall be resolved through binding arbitration in accordance with applicable arbitration rules. You waive your right to participate in class action lawsuits against SilverWay Bank.
12. Termination
We reserve the right to suspend or terminate your account at any time for violation of these Terms, suspicious activity, or as required by law. You may close your account at any time by contacting customer support. Outstanding loans must be repaid upon termination.
13. Changes to Terms
We may modify these Terms at any time. We will notify you of material changes via email or through the platform. Your continued use of our services following notification constitutes acceptance of the updated Terms. We recommend reviewing these Terms periodically.
14. Contact Us
For questions about these Terms or our services, contact Silver Way Finance Customer Service at support@silverwaybank.com or call (719) 68-SILVW.
Notice: SilverWay Bank is a private digital financial platform and is not affiliated with any existing banking institution.