Bill Pay Funding Pilot Program Terms

Effective: January 29, 2024

Introduction

The Square Bill Pay Funding Pilot Program (“Pilot Program”) is a short-term trial designed to explore short-term funding options for Bill Pay customers. Participation in the Pilot Program is exclusive, available only to a select group of sellers receiving a direct invitation from Square. These Bill Pay Funding Pilot Program Terms (“Pilot Program Terms”) form a binding legal agreement between you (“you,” “your”) and Block, Inc. (“Square,” “we,” “our,” or “us”). By participating, you agree to adhere to these Pilot Program Terms, the General Terms, the Bill Pay Terms, and all other applicable terms, policies, and guidelines. Defined terms will have the same meaning as those found in the General Terms, unless otherwise defined here. In the event of a conflict between these Terms and the General Terms, the provisions of the General Terms shall prevail.

Eligibility

To be eligible for the Pilot Program, you must be a seller specifically invited by Square, with a payments-activated Square Account and an active Square Checking account.

Offer and Acceptance

As a part of this Pilot Program, eligible invitees may receive a special offer to access funds, known as “Bill Pay Advance,” credited into their Square Checking. The Bill Pay Advance is provided at no cost, without interest, and is not subject to a mandatory repayment after 30 days. You may choose to voluntarily repay any portion of the Bill Pay Advance. As part of this Pilot Program, Square has no legal or contractual claim against you based on a failure to repay. Square will not place the amount owed with or sell to a third party, report you to a consumer reporting agency, or engage in debt collection activities for any unpaid portion, except in cases involving fraud. Square does not waive any rights regarding fraudulent activity.

Use of Funds

The Bill Pay Advance is exclusively allocated for conducting eligible bill payments via Square’s Bill Pay service. The Bill Pay Advance is used for business purposes only and not to be used for personal, family or household purposes. The use of the Bill Pay Advance, whether in whole or in part, is limited to this specific purpose. Any transfer of the Bill Pay Advance out of your Square Checking for other uses is expressly prohibited.

Repayment and Authorization

You authorize Square to initiate a charge against your Square Checking for repayment of the Bill Pay Advance 30 days after it has been credited. Should your Square Checking not hold sufficient funds, we will debit the full available amount and no further debit attempts will be made. By filling out and submitting this form, which is available under Settings in the Bill Pay section of your Square Dashboard, you may opt-out of this Pilot and revoke repayment authorization.

Restrictions and Responsibilities

You bear sole responsibility for the judicious use of the Bill Pay Advance. Square is absolved of liability for any financial decisions or outcomes stemming from your participation in the Pilot Program or any unauthorized access to your account. Responsibility for all activities under your Square Account, including those by any persons granted access, lies with you.

Security and Liability

You acknowledge that Square Checking is not a consumer checking account and that consumer protection laws, including those under the Electronic Fund Transfer Act and Regulation E, do not apply to Square Checking or the Bill Pay Advance. You are responsible for safeguarding your Square Account and the Bill Pay Advance within it. Immediate reporting of any unauthorized usage to Square is expected. By participating in the Pilot, you also acknowledge and agree that your Funding may be accessed by any persons to whom you have granted access to your Square Account. You are fully responsible for all activity that occurs under your Square Account, including by persons to whom you have granted access to your Square Checking and the Bill Pay Advance. 

General

These Pilot Program Terms are an integral part of your agreement with Square, governed by the terms outlined in the General Terms, Payment Terms, and Bill Pay Service Terms. Square retains the right to alter or cease the Pilot Program at any time, without incurring liability.