These FAQs are in relation to the email sent notifying you of the change to our online terms of service.
- What is ACH?
- Who are CSFB?
- Why are we launching ACH alongside CSFB?
- If I don't want to use ACH, does this affect me?
- How does GoCardless' involvement with CSFB impact me?
- Can I negotiate, change or refuse to enter into these additional terms?
- Will I need to pay CSFB directly?
- How has the contract changed?
ACH (Automated Clearing House) is the Direct Debit scheme used in the United States.
CFSB stands for Community Federal Savings Bank. They are a New York based federal bank in the US.
We are doing this to allow us to launch into the US. CFSB are a regulated entity in the US and by working in conjunction with them we are able to launch our ACH service much more quickly than if we tried to do this alone.
If I don't want to use ACH, does this affect me?
If you don't use ACH then the Regulated Terms with CFSB will not affect you. However, our new terms will apply to you from the time set out in the email we sent to you.
The fact that we are offering our services to merchants through CFSB means that you need to agree a set of terms with CFSB. To ensure this is as simple as possible we are updating our existing contract structure and adding a set of online ‘Regulated Terms’ that form a three way contract between GoCardless <> CFSB <> You.
No. We have spent a long time limiting the scope of these terms to the bare minimum required by CFSB. If you are interested in using the ACH scheme then you will need to agree to the terms with CFSB, as they are published on our website.
No, you will continue to pay GoCardless as usual.
No matter what, GoCardless will continue to apply a global privacy and data protection risk management programme that includes the programme elements necessary to demonstrate compliance with GDPR’s high standards. Please see our privacy centre for more information.
To enable the ACH launch we have changed the way that our contracts are structured.
- updated our online terms of service, including changes that are necessary to enable ACH
- made changes that streamline our terms and address common points of concern
- made changes that enable new product features and international expansion
What did we change?
- We added a table of Country Specific Terms that indicate which entity is providing you with Regulated Services
- We added ‘Regulated Terms’, which create a contract between regulated entities and you
- We updated data protection references to reflect our global services
- We formalised the language in our terms generally
- We made clear that we will treat your funds in accordance with law or regulation, and will safeguard them where required
- We have re-ordered a number of provisions, in particular, moving common legal terms into one ‘General’ section