IBV Consent

1. Consent to Instant Bank Verification

When processing your application for a NinjaCard®—including your application for a checking account and savings account from Republic Bank of Chicago, Member FDIC (“Republic Bank”) and your application for an optional line-of-credit (“LOC”) from CreditNinja or other LOC lender—NinjaCard, LLC (“we,” “our,” or “us”), which serves as a program manager for Republic, may use either Plaid Technologies, Inc.® (“Plaid”) or Yodlee, Inc.® (“Yodlee”) to review recent transaction data from your bank account or prepaid debit card (“instant bank verification” or “IBV”). The purpose of IBV is to verify your identity and your ability to meet the payment obligations under the NinjaCard® deposit account agreement and any LOC agreement you choose to sign.

Plaid and Yodlee are financial data aggregators, providing consumer-authorized financial data to us and to a wide variety of depository financial institutions, lenders, and merchants. In this IBV Consent, “Verification Service” means Plaid, Yodlee, or any other vendor that provides us consumer-authorized financial data. For more information about the consumer-authorized financial data aggregation industry, you can consult your state consumer credit administrator or can review the CFPB’s Consumer Protection Principles for Consumer-Authorized Financial Data Sharing and Aggregation.

2. Ability-to-Repay Verification

When you apply for a NinjaCard®, Republic Bank any the LOC lender may require you to perform IBV as a condition of submitting a complete application. Because IBV is a consumer- authorized action, you have no obligation to perform IBV if you decide you do not want to complete your application. But if you do want to complete your application by performing IBV, then the following procedures will apply.

  • You will provide the Verification Service with your login credentials to your bank account or prepaid debit card that receives your largest recurring income stream as of the application date (your “Repayment Account”).
  • The Verification Service will obtain recent transactions from your Repayment Account and will transmit that data to us. We will then identify your recurring debts and determine the amount, interval, and reliability of the income deposited to your Repayment Account.
  • Although we will review the Repayment Account data transmitted by the Verification Service to us, we will not receive or store the login credentials to your Repayment Account. Instead, the Verification Service will use and store those credentials in accordance with the Verification Service’s terms and conditions. You will decide whether you accept the Verification Service’s terms and conditions before you perform IBV.
  • For your convenience and review, this document provides a Plaid Privacy Notice link and a Yodlee Privacy Notice link. Before performing IBV, we encourage you to visit the Verification Service’s website to review the privacy notice then in effect. Your review will ensure that the above links are still current and that you accept the terms and conditions under which the Verification Service will use and store your Repayment Account login credentials and other financial data.

By checking the box next to the IBV Consent document and then clicking the “Continue” or “Agree” button, you authorize us to receive, review, and store recent transaction data from your Repayment Account if you authorize a Verification Service to obtain such data and transmit it to us.

3. Other Uses

Subject to applicable laws and other limitations, we may use the transaction data from your Repayment Account for purposes other than verifying your ability to repay your NinjaCard® and LOC obligations. These other uses may include those listed below (collectively “Other Uses”).

  • Conducting fraud screening, identity verification, and account information verification.
  • Determining your eligibility for added card features or for an increased LOC limit.
  • Including you in marketing campaigns and promotions.
  • Improving our service quality and product offerings.

By using www.ninjacard.com (the“Site”), scrolling through the IBV Consent document, and clicking the “Continue” or “Agree” button, you authorize us to use Verification Service data not only for the purpose of verifying your ability to repay your NinjaCard® and LOC obligations but also for Other Uses. You also acknowledge that the login credentials to your Repayment Account are used and stored by the Verification Service and not by us.

4. Consent to Verification Service’s Privacy Policy

By utilizing the instant bank verification services provided by Plaid (“Plaid Services”), you acknowledge and agree that the terms of Plaid`'s Privacy Policy (currently located at https://plaid.com/legal/#end-user-privacy-policy) will govern Plaid`'s use of such information, and you expressly agree to the terms and conditions of Plaid`'s Privacy Policy. Further, you expressly grant Plaid the right, power, and authority to access and transmit your information as reasonably necessary for Plaid to provide the Plaid Services to you. To the extent you previously utilized account linking and aggregation services through our previous service provider, Quovo, Inc., you expressly authorize Quovo, Inc. to transmit any information or data arising out of those services to Plaid so that Plaid can offer you its Services.

Similarly, by utilizing the instant bank verification services provided by Yodlee (“Yodlee Services”), you acknowledge and agree that the terms of Yodlee’s Privacy Policy (currently located at https://stage.customercare.yodlee.com/ycc/privacy.yodlee.do) will govern Plaid’s use of such information, and you expressly agree to the terms and conditions of Yodlee’s Privacy. Further, you expressly grant Yodlee the right, power, and authority to access and transmit your information as reasonably necessary for Yodlee to provide the yodlee Services to you.

If you have any questions or concerns about this IBV Consent, we encourage you to contact us by phone, email, or ordinary mail. NinjaCard® Customer Service 27 North Wacker Drive, Suite 404 Chicago, Illinois 60606 or support@ninjacard.com or 855-646-5242 (855-NINJA42)

IBV Consent March 28, 2023

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About NinjaCard®
NinjaCard is a full-service financial solution designed to meet your banking and borrowing needs. NinjaCard features a checking account accessed by your Visa® debit card, and a savings account that can earn interest. These banking services are provided by Republic Bank of Chicago, Member FDIC. Additionally, you can draw funds from a Flexline line of credit (the LOC), borrowing only what you need and depositing those funds directly to your checking account. Because you manage all of these accounts in one place— the secure NinjaCard Online Banking accessed via our website (www.ninjacard.com) or mobile application — our Online Banking often uses the singular term “account” to refer to all your NinjaCard accounts. In addition to managing your finances in one place, the NinjaCard offers a rewards program that encourages you to keep all your accounts in good standing. If you meet these rewards conditions, cash is deposited to your savings account. With the NinjaCard Flexline, you can borrow only what you need, make payments with a billing cycle tailored to your regular income interval, and reborrow as many times as you want up to your credit limit.  To authorize a Flexline draw, simply login to your NinjaCard online account (www.ninjacard.com) or use the NinjaCard mobile application.  The Flexline lender will disburse the draw to your NinjaCard checking account or to any other deposit account you choose to link to your Flexline.
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NinjaCard, LLC is a financial technology company, not a bank. Banking services provided by Republic Bank of Chicago, Member FDIC. The Line of Credit services provided by the Lending Bank listed in your Line of Credit agreement.

*NINJACARD® FLEXLINE™ LENDER. The NinjaCard Flexline agreement will name the Flexline lender, which will make the loan decision, communicate that decision to the applicant, and disburse draws to approved applicants.  Depending on your state of residence and credit limit, the Flexline lender will be named in the Flexline agreement.  NinjaCard, LLC, the program manager for Flexline, will service and collect your Flexline on behalf of the lender.  Accepted payment methods include ACH—authorized with a signed autopay form—or personal check, money order, or cashier’s check—mailed to the remittance address listed in the Flexline agreement.  Cash and in-person payments are not accepted.  Flexline may not be available to residents of some states.  See disclaimers appearing on the Flexline application for details.

**NINJACARD FLEXLINE DRAWS. You may be eligible for a NinjaCard Flexline whether or not you obtain a NinjaCard Visa® Debit card.  If you do not obtain a NinjaCard Visa Debit card, then the Flexline lender will disburse draws to any U.S.-domiciled deposit account you choose to link to your Flexline.  If you do obtain a NinjaCard Visa Debit card and deposit account, then you may authorize the Flexline lender to disburse draws to your NinjaCard checking account.  Note, however, that your use of the NinjaCard Visa Debit card or any other Flexline-linked debit card will never automatically initiate a draw, even if the proposed card transaction would exceed the balance of the deposit account to which the card is attached.  Instead, you must affirmatively authorize a draw by either logging in to your NinjaCard online account (http://www.ninjacard.com ) or using the NinjaCard mobile application.

†NINJACARD DEPOSIT DISCLOSURES. The NinjaCard Visa® Debit card is issued by Republic Bank of Chicago, pursuant to a license from Visa U.S.A. Inc., and may be used everywhere Visa® debit cards are accepted.  If you choose to obtain a NinjaCard Visa Debit Card, the card will be attached to a NinjaCard checking account.  The debit card, NinjaCard checking and savings accounts may be referred to collectively as “NinjaCard”. Funds deposited to your NinjaCard checking and savings accounts are insured aggregately up to $250,000 through Republic Bank of Chicago, Member FDIC.  NinjaCard, LLC is the program manager for NinjaCard deposit products, acquiring card applicants, processing card applications, and servicing and obtaining deposit accounts on behalf of the Republic Bank of Chicago.  Banking services may not be available to residents of some states.  See disclaimers appearing on the account application for details.

††SAVINGS REWARDS: Eligible customers will receive a $10 monthly reward deposited to their NinjaCard Savings Account. Rewards eligibility requirements include avoiding any fee delinquency or negative balance in your checking and savings accounts, avoiding any charge delinquency in your optional line-of-credit (LOC), and authorizing the direct deposit of at least $500 of recurring monthly income (e.g., not loan proceeds) to your checking account. Please note: your LOC is provided by the lender named in the LOC agreement, not by Republic Bank of Chicago.

‡EARLY ACCESS to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to two days earlier than the scheduled payment date.

‡‡THE ANNUAL PERCENTAGE YIELD (“APY”) for the NinjaCard® Savings account is variable and may change at any time. The disclosed 0.35% APY is effective as of June 20, 2024. No minimum balance is required. See the Deposit Rate Disclosure for the current APY.

NINJACARD MOBILE APPLICATION.  You can manage your NinjaCard services, including Flexline and NinjaCard Checking and Savings, with either the online banking platform, located at http://www.ninjacard.com , or the NinjaCard mobile application, available on the Apple App Store and Google Play.  Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.  App Store is a service mark of Apple Inc., registered in the U.S. and other countries.  App Store is a service mark of Apple Inc.  Google, Android and Google Play are trademarks of Google Inc., registered in the U.S. and other countries.

NOTICE OF FURNISHING NEGATIVE INFORMATION.  We may report information about your NinjaCard Flexline account to credit bureaus.  Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.  To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.  What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver’s license or other identifying documents.