Last updated: January 13, 2025

The following terms of service are terms of a legal agreement (the "Agreement" or “TOS”) between you ("you", "your", or "user") and Red Technology Ventures LLC and its affiliates, agents and assigns ("Carlos", "we", "us", or "our") which sets forth the terms and conditions for your use of Carlos's mobile application ("Mobile App") and Carlos's website, https://www.getcarlos.com (the “Website”), as well as the products and services offered, operated or made available by Carlos through the Mobile App or Website (collectively, the "Services"). Carlos is not a bank, Carlos is a financial technology company providing the Services.

THIS AGREEMENT ALSO INCLUDES, AMONG OTHER THINGS, A BINDING ARBITRATION PROVISION THAT CONTAINS A CLASS ACTION WAIVER. PLEASE REFER TO SECTION 19 BELOW FOR MORE INFORMATION.

1. ACCEPTANCE OF AGREEMENT

Please carefully review this Agreement before using the Mobile App, Website or Services, or accessing any data thereon. If you do not agree to these terms, you may not access or use the Mobile App, Website or Services. To use the Mobile App, Website or Services and to accept the Agreement, you must (1) be a citizen or permanent legal resident of the United States, (2) be at least 18 years old, (3) agree to only have one Carlos User Account (defined below), which must be in your real name; and (4) not be prohibited by law from using the Mobile App, Website or Services. Creating a Carlos User Account with false information, which includes creating an account using another person's information, is a violation of our terms and will result in the termination of your access to the Services.

2. MODIFICATION OF THIS AGREEMENT

We reserve the right to make modifications to these Terms of Service at any time and for any reason. In the event that a change to our Terms of Service will result in an increase of fees, an increase of liability to our users, fewer types of electronic funds transfers or stricter limitations on the frequency or dollar amount of transfers, you will be notified via email 30 days before the effective date. All changes will be effective upon posting, so you should check this Agreement on the Website periodically for changes. Your continued use of the Mobile App, Website or Services after any change to this Agreement constitutes your agreement to be bound by any such changes. Carlos also reserves the right to terminate, suspend, change, or restrict the Services, or any part of the Services, without notice or liability.

3. PRIVACY POLICY

Carlos maintains a Privacy Policy that details how we handle and protect your data. Our Privacy Policy is available at https://www.getcarlos.com/privacy-policy. We fully incorporate our Privacy Policy into this Agreement.

4. MINIMUM TECHNOLOGY REQUIREMENTS TO ACCESS SERVICES

To access and use the Mobile App and Services, you must have a mobile telephone (“mobile device”) with access to the Internet running either Apple iOS 10.3 or higher, or Android 5.0 or higher. You must also have a valid U.S. telephone number provided through a mobile carrier and email address, and sufficient storage space to install the Mobile App. We do not support devices that are not mobile telephones, such as tablets, or the use of emulators that purport to allow you to install mobile telephone applications on your laptop or desktop computer. The Mobile App is available on the Apple App Store (for Apple devices) and Google Play Store (for Android devices).

5. USER INFORMATION ACCURACY AND UPDATES

To access Carlos's Services, you must create a Carlos User Account with Carlos (a “Carlos User Account”). This process may include a multifactor authentication process through which you will use a code delivered via SMS (“Login Credentials”) to access the Mobile App and Services. When you sign up for a Carlos User Account, you agree to provide accurate, current, and complete information — such as your name, mailing address, and email address – requested through the Mobile App ("User Information"). Additionally, by creating an account, you agree to have your mobile number and identity information verified against mobile data providers. Your phone number will be used for authentication and that an SMS will be sent to your mobile if eligible for enrollment

In order to use certain Services, Carlos may be required to verify your identity. You authorize us to make any inquiries we consider necessary to validate your identity. If you do not respond to such inquiries or we cannot verify your identity, we can refuse to allow you to use the Mobile App and/or the Services. Should any of your User Information change, you also agree that you will update this information as soon as possible. You may update your User Information through the Mobile App or by emailing us at contact@getcarlos.com. Should you believe or have reason to believe that any of your User Information, including your username and/or password, has been compromised, or that another person is accessing your Carlos User Account through some other means, you agree to notify us as soon as possible at contact@getcarlos.com.

6. THIRD-PARTY AND CARLOS BANKING ACCOUNT INFORMATION

To use some of our Services, you will need to give us access to information related to your bank accounts at other financial institutions. This includes bank account transaction histories, balance information, and/or other information maintained by third parties with which you have relationships, maintain accounts or engage in financial transactions ("Third-Party Account Information"). Carlos works with one or more third-party service providers to access this Third-Party Account Information. We will use this information to provide you with the Services you request, for our own internal business purposes, and to offer you other Carlos or third-party products and services that may be of interest to you. By using the Services, you authorize Carlos to access this information maintained by identified third parties, on your behalf as your agent, and you expressly authorize such third parties to disclose your information to us. By agreeing to this Agreement, you are also agreeing that you are responsible for keeping secure any passwords and usernames you provide to us so we can retrieve this Third-Party Account Information, and for keeping those passwords and usernames up to date through the Mobile App.

Carlos does not review the Third-Party Account Information for accuracy, legality or non-infringement, and Carlos is not responsible for your Third-Party Account Information or products and services offered by or on third-party sites. You acknowledge that any Third-Party Account Information that is displayed through the Services will be the information we most recently accessed, and that this information may not reflect pending transactions or other recent activity.

7. Linked Accounts, Bank Connection Fees and Cancellation

After you create a Carlos User Account, you will be prompted to identify and connect your debit card and one or more of your bank accounts held at a depository institution (each a “Linked Account”) if you attempt to use or access any feature within the Mobile App that requires a Linked Account. There is a monthly fee of $4.99 for connecting Linked Accounts to your Carlos User Account (“Bank Connection Fee”) and accessing certain features. Once you connect one or more Linked Accounts, you will be assessed the Bank Connection Fee each month, via your debit card, until you disconnect all Linked Accounts through the Mobile App. You will only be assessed one Bank Connection Fee per month regardless of the number of Linked Accounts you have.

To stop the monthly Bank Connection Fee, you must close your Carlos User Account. You may do so through the Mobile App or through our help portal at getcarlos.com/support. It is important to remember that simply uninstalling the Mobile App from your device will not result in closure of your Carlos User Account and will NOT stop the monthly Bank Connection Fee.

You may only connect Linked Accounts that you own and are authorized to transact upon. Each Linked Account may only be connected to one Carlos User Account. If we determine that you have connected a Linked Account that you do not own or are not authorized to transact upon, or that is already connected to another Carlos User Account, we may terminate your access to the Services.

You may choose to unlink a Linked Account from your Carlos User Account through the Mobile App. By unlinking your Linked Account from your Carlos User Account, you may lose your ability to receive some or all the Services.

Carlos will attempt to avoid debiting your Linked Account for the Bank Connection Fee if we detect that you have insufficient funds in your Linked Account to cover the amount owed. Additionally, we will not debit your Linked Account if we are unable to view the current balance of your Linked Account prior to initiating the payment. Although we will attempt to avoid debiting your Linked Account if you do not have sufficient funds, Carlos makes no guarantees that an overdraft will not occur or that your bank will not charge you fees. Carlos also reserves the right to collect unpaid Bank Connection Fees from prior months along with the fee due for the current month.

8. CREDIT AND DEBIT AUTHORIZATION

By connecting a bank account to your Carlos User Account, you authorize us to electronically debit the $4.99 Bank Connection Fee from your Linked Account on a monthly basis. 

As applicable, you also authorize Carlos to electronically debit and credit your Linked Account to correct erroneous debits and credits. You acknowledge that, as applicable, the electronic authorizations contained in this Section represents your written authorizations for ACH and debit card transactions as provided herein and will remain in full force and effect until you notify Carlos that you wish to revoke an authorization by emailing contact@getcarlos.com.

You must notify Carlos at least three (3) business days before the scheduled debit date in order to cancel an authorization. When you email, please include the name, email address, and telephone number associated with your Carlos User Account. Failure to provide correct and complete information may make it impossible for Carlos to stop withdrawal of the preauthorized transaction. You agree to indemnify and hold Carlos harmless from and against any loss incurred as a result of its withdrawal of an ACH or debit card transaction from your Linked Account if any of the information relied upon in your request to revoke authorization is incorrect or incomplete. If you have followed the instructions in this section to notify Carlos of your desire to revoke your authorization at least three (3) business days before the scheduled debit date, Carlos will be liable for your losses or damages directly caused by our failure to stop the transaction. If we do not receive notice at least three (3) business days before the scheduled debit date, we may attempt, in our sole discretion, to cancel the transaction. However, we assume no responsibility for our failure to do so.

You warrant and represent to Carlos that you have the right to authorize us to charge and credit your Linked Account for payments due to us under this Agreement. In no event will our liability to you exceed the amount of the debit transaction and any bank fees you incur as a direct result of the debit transaction. If you have a joint Linked Account, you represent and warrant that you have the authority to (a) bind the absent accountholder; and (b) enter into this Agreement independently. You agree to indemnify and hold Carlos harmless from any claims by any other owner of the Linked Account.

You represent that you are capable of saving or otherwise storing a copy of this electronic authorization for your records, and the credit and debit transactions you request comply with applicable law.

9. CONSENT TO ELECTRONIC COMMUNICATIONS AND DOING BUSINESS ELECTRONICALLY

9.1 Communications to Be Provided in Electronic Form

By choosing to use the Mobile App or Services, you will receive from time-to-time disclosures, notices, documents, and any other communications about our Services, the Mobile App, or Carlos (“Communications”). We can only give you the benefits of our Services by conducting business through the Internet, and therefore we need you to consent to receive all Communications electronically. This section informs you of your rights when receiving electronic Communications from us. We may discontinue electronic provision of Communications at any time at our sole discretion.

9.2 Communications in Writing

By accepting this Agreement, you agree that electronic Communications shall be considered “in writing” and have the same meaning and effect as if provided in paper form, unless you have withdrawn your consent to receive Communications electronically as stated below. You agree that we have no obligation to provide you Communications in paper format, although we reserve the right to do so at any time.

9.3 Minimum Requirements

You understand that, in order to view and/or retain copies of the electronic Communications, you will need to meet the minimum technology requirements described in Section 4 above, as well as have software that allows you to open and view PDF files, such as the Adobe Acrobat Reader. You will also need sufficient storage space to save Communications or the capability to print the Communications from the device on which you view them.

9.4 Withdrawing Consent

You may withdraw your consent to receive Communications electronically by contacting us at contact@getcarlos.com. If you withdraw your consent, we will close your Carlos User Account. The legal validity and enforceability of prior Communications delivered in electronic form will not be affected by your withdrawal of consent. You also agree to pay any outstanding Bank Connection Fees you may have incurred prior to the termination of your Carlos User Account.

9.5 Updating Records

You can update your User Information in the Mobile App or by emailing us at contact@getcarlos.com.

10. SMS MESSAGING AND TELEPHONE CALLS

By creating a Carlos User Account, you consent to receive SMS and MMS messages (including text messages), and telephone calls (including prerecorded and artificial voice and autodialed) from us, our agents, representatives, affiliates or anyone calling on our behalf at the specific number(s) you have provided to us, with service-related information such as alerts, or questions about your use of the Services and/or Mobile App. You certify, warrant and represent that the telephone number you have provided to us is your contact number and not someone else's. You represent that you are permitted to receive calls and text messages at the telephone number you have provided to us. You agree to promptly alert us whenever you stop using a telephone number. Carlos and our agents, representatives, affiliates and anyone calling on our behalf may use such means of communication described in this section even if you will incur costs to receive such phone messages, text messages, e-mails or other means. Standard message and data rates may apply to all SMS messages (including text messages). We may modify or terminate our SMS messaging services from time to time, for any reason, and without notice without liability to you.

By creating a Carlos User Account, you also agree to receive push notifications from us. Receipt of push notifications may be delayed or prevented by factors beyond our control, including those affecting your internet/phone provider. We are not liable for losses or damages arising from non-delivery, delayed delivery, or the erroneous delivery of any push notification; inaccurate push notification content; or your use or reliance on the content of any push notification for any purposes. Each push notification may not be encrypted, and may include your name and information pertaining to your use of the Website, Mobile App, or Services. We may terminate your use of push notifications at any time without notice. You can opt out of receiving push notifications by adjusting your device settings. You acknowledge that opting out of receiving push notifications from us may impact your use of the Website, Mobile App, and Services.

11. LIMITATIONS OF USE

You agree to use the Mobile App, Website and Services only for lawful purposes. You are prohibited from any use of the Services or Mobile App that would constitute a violation of any applicable law, regulation, rule or ordinance of any nationality, state, or locality or of any international law or treaty, or that could give rise to any civil or criminal liability. Any unauthorized use of the Mobile App or Services, including but not limited to unauthorized entry into Carlos's systems, misuse of passwords, or misuse of any information posted on the Mobile App, Website or through the Services is strictly prohibited. Carlos makes no claims concerning whether use of the Mobile App, Website or Services is appropriate outside of the United States. If you access the Mobile App, Website or Services from outside of the United States, you are solely responsible for ensuring compliance with the laws of your specific jurisdiction.

You agree you will not (1) try to reverse engineer, disassemble, decompile, or decipher the Mobile App, Website or Services or software making up the Mobile App, Website and Services, (2) navigate or search the Mobile App, Website or Services with any tool, software, agent, engine or other means (including bots, avatars, intelligent agents, or spiders), (3) use a means other than Carlos's provided interface to access the Mobile App, Website or Services, (4) use the Mobile App, Website or Services in a way that could impair, overburden, damage, or disable any portion of the Mobile App, Website or Services, or (5) mirror any material contained on the Mobile App, Website or Services.

Carlos reserves the right to take various actions against you if we believe you have engaged in activities restricted by this Agreement or by laws or regulations, and Carlos also reserves the right to take action to protect Carlos, other users, and other third parties from any liability, fees, fines, or penalties. We make take actions including, but not limited to: (1) updating information you have provided to us so that it is accurate, (2) limiting or completely closing your access to the Mobile App, Website or Services, (3) suspending or terminating your ability to use the Mobile App, Website or Services on an ongoing basis, (4) taking legal action against you, and (5) holding you liable for the amount of Carlos's damages caused by your violation of this Agreement.

12. INTELLECTUAL PROPERTY RIGHTS

The Mobile App, Website and Services are owned and operated by Carlos. All content, visual interfaces, information, graphics, design, compilation, computer code, products, software, services, text, data, contents, names, trade names, trademarks, trade dress, service marks, layout, logos, designs, images, graphics, illustrations, artwork, icons, photographs, displays, sound, music, video, animation, organization, assembly, arrangement, interfaces, databases, technology, and all intellectual property of any kind whatsoever and the selection and arrangement thereof (collectively, the "Carlos Materials") are owned exclusively by Carlos or the licensors or suppliers of Carlos and are protected by U.S. copyright, trade dress, patent, and trademark laws, international conventions, and all other relevant intellectual property and proprietary rights, and applicable laws. Nothing on this Website, Mobile App or the Services should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any of the Carlos Materials displayed on the Mobile App, Website or Services, without our prior written permission in each instance. You may not use, copy, display, distribute, modify or reproduce any of Carlos Materials found on the Mobile App, Website or Services unless in accordance with written authorization by us. Carlos prohibits use of any of the Carlos Materials as part of a link to or from the Mobile App, Website or Services unless establishment of such a link is approved in writing by us in advance. Any questions concerning any Carlos Materials, or whether any mark or logo is a Carlos Material, should be referred to Carlos. All rights related to the Carlos Materials are hereby reserved. You agree that the Carlos Materials may not be copied, reproduced, distributed, republished, displayed, posted or transmitted in any form or by any means, including, but not limited to, electronic, mechanical, photocopying, recording, or otherwise, without the express prior written consent of Carlos. You acknowledge that the Carlos Materials are and shall remain the property of Carlos. You may not modify, participate in the sale or transfer of, or create derivative works based on any Carlos Materials, in whole or in part.

13. TERMINATION

Carlos may terminate this Agreement at any time or suspend or terminate your access and use of the Mobile App, Website or Services at any time, with or without cause, in Carlos's absolute discretion and without notice. The following provisions of this Agreement shall survive termination of your use or access to the Mobile App, Website or Services: the sections concerning Indemnification, Disclaimer of Warranties, Limitation of Liability, Waiver, Dispute Resolution by Binding Arbitration, and General Provisions, and any other provision that by its terms survives termination of your use or access to the Mobile App, Website or Services. Carlos further reserves the right to modify or discontinue, either temporarily or permanently, any portions or all the Mobile App, Website or Services at any time with or without notice.

14. DISCLAIMER OF WARRANTIES

THE MOBILE APP, WEBSITE AND SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS. TO THE FULLEST EXTENT PERMITTED BY LAW, CARLOS AND ALL OF ITS SUCCESSORS, PARENTS, AFFILIATES, OFFICERS, DIRECTORS, STOCKHOLDERS, INVESTORS, EMPLOYEES, AGENTS, REPRESENTATIVES AND ATTORNEYS AND THEIR RESPECTIVE HEIRS, SUCCESSORS, ASSIGNS, LICENSORS AND SUPPLIERS INCLUDING PAYMENT CARD NETWORKS AND PAYMENT PROCESSORS (COLLECTIVELY, THE "CARLOS PARTIES") EXPRESSLY MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS, STATUTORY, OR IMPLIED AS TO THE CONTENT OR OPERATION OF THE MOBILE APP, WEBSITE OR SERVICES. YOU EXPRESSLY AGREE THAT YOUR USE OF THE MOBILE APP, WEBSITE OR SERVICES IS AT YOUR SOLE RISK. IF YOU ARE A CALIFORNIA RESIDENT, YOU HEREBY WAIVE CALIFORNIA CIVIL CODE SECTION 1542 WHICH PROVIDES: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY." THE CARLOS PARTIES MAKE NO REPRESENTATIONS, WARRANTIES OR GUARANTEES, EXPRESS OR IMPLIED, REGARDING THE ACCURACY, ADEQUACY, TIMELINESS, RELIABILITY, COMPLETENESS, OR USEFULNESS OF ANY OF THE INFORMATION OR CONTENT ON THE MOBILE APP, WEBSITE, OR SERVICES, AND EXPRESSLY DISCLAIM ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, OR TITLE. THE CARLOS PARTIES MAKE NO REPRESENTATION, WARRANTY, OR GUARANTEE THAT THE MOBILE APP, WEBSITE OR SERVICES ARE FREE OF VIRUSES, BUGS, DEFECTS, ERRORS, OR OTHER COMPUTING ROUTINES THAT CONTAIN DAMAGING OR OTHERWISE CONTAMINATING PROPERTIES, OR PROGRAMS INTENDED TO INTERCEPT OR STEAL PERSONAL OR SYSTEM DATA.

Please note, the ability to exclude warranties varies in different jurisdictions. To the extent that a jurisdiction places limits on the ability for a party to exclude warranties, these exclusions exist to the extent permitted by law. Because of this jurisdictional variance, some of the above exclusion may not apply to you.

15. NO LEGAL, TAX OR FINANCIAL ADVICE; ALERTS

CARLOS DOES NOT INTEND TO PROVIDE YOU WITH ANY LEGAL, TAX, OR FINANCIAL ADVICE THROUGH THE MOBILE APP, WEBSITE OR SERVICES. CARLOS IS NOT A LAWYER, TAX ADVISOR, BROKER, OR FINANCIAL PLANNER. CARLOS ENCOURAGES YOU TO CONSIDER CONSULTING AN ACCOUNTANT OR OTHER FINANCIAL ADVISOR AWARE OF YOUR INDIVIDUAL CIRCUMSTANCES BEFORE IMPLEMENTING ANY FINANCIAL STRATEGY OR MAKING OTHER FINANCIAL DECISION. CARLOS WILL MAKE REASONABLE EFFORTS TO PROVIDE TIMELY AND ACCURATE ALERTS TO YOU, BUT YOU ACKNOWLEDGE AND UNDERSTAND THAT ALERTS MAY BE DELAYED OR PREVENTED FOR VARIOUS REASONS. CARLOS DOES NOT GUARANTEE THE DELIVERY, ACCURACY, OR TIMELINESS OF ALERTS. FURTHER, CARLOS IS NOT LIABLE FOR ANY ERRORS IN THE DELIVERY OR CONTENT OF AN ALERT, AND CARLOS IS NOT LIABLE FOR ACTIONS YOU TAKE, OR DO NOT TAKE, IN RELIANCE ON ALERTS. CARLOS IS NOT LIABLE FOR ANY THIRD-PARTY RELIANCE ON ALERTS.

16. LIMITATION OF LIABILITY

THE CARLOS PARTIES WILL NOT BE RESPONSIBLE, UNDER ANY CIRCUMSTANCES, TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, LIQUIDATED, OR PUNITIVE DAMAGES, INCLUDING DAMAGES UNDER WARRANTY, CONTRACT, TORT, NEGLIGENCE, OR ANY OTHER CLAIMS, ARISING OUT OF OR RELATING TO YOUR USE OF THE MOBILE APP, WEBSITE OR SERVICES, THE CARLOS MATERIALS, OR ANY CONTENT OR OTHER MATERIALS ON OR ACCESSED THROUGH THE MOBILE APP, WEBSITE OR SERVICES, EVEN IF CARLOS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE CARLOS PARTIES WILL ALSO NOT BE LIABLE TO YOU FOR ANY USE OF INFORMATION, DATA, OR OTHER MATERIAL TRANSMITTED VIA THE MOBILE APP, WEBSITE OR SERVICES, OR FOR ANY ERRORS, DEFECTS, INTERRUPTIONS, DELETIONS, OR LOSSES RESULTING FROM, INCLUDING LOSS OF PROFIT, REVENUE, OR BUSINESS, ARISING IN WHOLE OR IN PART FROM YOUR ACCESS TO, OR USE OF, THE MOBILE APP, WEBSITE OR SERVICES. IN NO EVENT WILL THE CARLOS PARTIES' TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES OR CAUSES OF ACTION EXCEED USD $1,000 (ONE THOUSAND UNITED STATES DOLLARS). SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE ABOVE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE MOBILE APP, WEBSITE OR SERVICES OR WITH THIS AGREEMENT, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES.

17. INDEMNIFICATION

To the fullest extent permitted by law, you agree to indemnify, defend and hold harmless the Carlos Parties from and against any and all claims, losses, expenses, demands or liabilities, including reasonable attorneys' fees arising out of or relating to (i) your access to, use of or alleged use of the Mobile App, Website or Services; (ii) your violation of this Agreement or any representation, warranty, or agreements referenced herein, or any applicable law or regulation; (iii) your violation of any third party right, including without limitation any intellectual property right, publicity, confidentiality, property or privacy right; or (iv) any disputes or issues between you and any third party. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and in such case, you agree to cooperate with our defense of such claim. You shall cooperate as fully as reasonably required in the defense of any such claim. Carlos reserves the right, at its own expense, to assume the exclusive defense and control of any matter subject to indemnification by you. You agree not to settle any matter without the prior written consent of Carlos.

18. DISPUTE RESOLUTION BY BINDING ARBITRATION

YOU HAVE READ THIS PROVISION CAREFULLY AND UNDERSTAND THAT IT LIMITS YOUR RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND US. YOU UNDERSTAND THAT YOU HAVE THE RIGHT TO REJECT THIS PROVISION AS PROVIDED IN SECTION 19.3 BELOW.

19.1 Election to Arbitrate.

You and Carlos agree that the sole and exclusive forum and remedy for resolution of a Claim be final and binding arbitration pursuant to this Section 19 (the "Arbitration Provision"), unless you opt out as provided in Section 19.3 below. As used in this Arbitration Provision, "Claim" shall include any past, present, or future claim, dispute, or controversy involving you (or persons claiming through or connected with you), on the one hand, and us on the other hand, relating to or arising out of this Agreement, and/or the activities or relationships that involve, lead to, or result from this Agreement, including (except to the extent provided otherwise in the last sentence of Section 19.8 below) the validity or enforceability of this Arbitration Provision, any part thereof, or the entire Agreement. Claims are subject to arbitration regardless of whether they arise from contract; tort (intentional or otherwise); a constitution, statute, common law, or principles of equity; or otherwise. Claims include matters arising as initial claims, counter‐claims, cross-claims, third-party claims, or otherwise. Please note that you may continue to assert Claims in small claims court, if your Claims qualify and so long as the matter remains in such court and advances only on an individual (non-class, non-representative) basis. The scope of this Arbitration Provision is to be given the broadest possible interpretation that is enforceable.

19.2 Applicability of the Federal Arbitration Act; Arbitrator's Powers.

This Arbitration Provision is made pursuant to a transaction involving interstate commerce and shall be governed by and enforceable under the Federal Arbitration Act (the "FAA"). The arbitrator will apply substantive law consistent with the FAA and applicable statutes of limitations. The arbitrator may award damages or other types of relief permitted by applicable substantive law, subject to the limitations set forth in this Arbitration Provision. The arbitrator will not be bound by judicial rules of procedure and evidence that would apply in a court. The arbitrator shall take steps to reasonably protect confidential information.

19.3 Opt-Out of Arbitration Provision.

You may opt out of this Arbitration Provision for all purposes by sending an arbitration opt out notice to contact@getcarlos.com, within 60 days of the date of your electronic acceptance of the terms of this Agreement. The opt out notice must clearly state that you are rejecting arbitration; identify the Agreement to which it applies by date; provide your name, address, and social security number; and be signed by you. You may send an opt-out notice in any manner you see fit if it is received at the specified address within the specified time. No other methods can be used to opt out of this Arbitration Provision. If the opt out notice is sent on your behalf by a third party, such third party must include evidence of his or her authority to submit the opt out notice on your behalf.

19.4 Informal Dispute Resolution.

If a Claim arises, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost-effective means of resolving the dispute quickly. You agree that before filing any claim in arbitration, you may submit Claims by sending an email tocontact@getcarlos.com at any time.

19.5 Arbitration Procedures.

The party initiating arbitration shall do so with the American Arbitration Association (the "AAA") or Judicial Alternatives and Mediation Services ("JAMS"). The arbitration shall be conducted according to, and the location of the arbitration shall be determined in accordance with, the rules and policies of the administrator selected, except to the extent the rules conflict with this Arbitration Provision or any countervailing law. If you have any questions concerning the AAA or would like to obtain a copy of the AAA arbitration rules, you may call 1(800) 778-7879 or visit the AAA's web site at: www.adr.org. If you have any questions concerning JAMS or would like to obtain a copy of the JAMS arbitration rules, you may call 1(800) 352-5267 or visit their web site at: www.jamsadr.com. In the case of a conflict between the rules and policies of the administrator and this Arbitration Provision, this Arbitration Provision shall control, subject to countervailing law, unless all parties to the arbitration consent to have the rules and policies of the administrator apply. The arbitration will be held in the United States county where you live or work, or any other location we agree to.

19.6 Arbitration Fees.

If we elect arbitration, we shall pay all the administrator's filing costs and administrative fees (other than hearing fees). If you elect arbitration, filing costs and administrative fees (other than hearing fees) shall be paid in accordance with the rules of the administrator selected, or in accordance with countervailing law if contrary to the administrator's rules. We shall pay the administrator's hearing fees for one full day of arbitration hearings. Fees for hearings that exceed one day will be paid by the party requesting the hearing, unless the administrator's rules or applicable law require otherwise, or you request that we pay them and we agree to do so. Each party shall bear the expense of its own attorneys' fees, except as otherwise provided by law. If a statute gives you the right to recover any of these fees, these statutory rights shall apply in the arbitration notwithstanding anything to the contrary herein.

19.7 Appeals.

Within 30 days of a final award by the arbitrator, any party may appeal the award for reconsideration by a three-arbitrator panel selected according to the rules of the arbitrator administrator. In the event of such an appeal, any opposing party may cross-appeal within 30 days after notice of the appeal. The panel will reconsider de novo all aspects of the initial award that are appealed. Costs and conduct of any appeal shall be governed by this Arbitration Provision and the administrator's rules, in the same way as the initial arbitration proceeding. Any award by the individual arbitrator that is not subject to appeal, and any panel award on appeal, shall be final and binding, except for any appeal right under the Federal Arbitration Act ("FAA"), and may be entered as a judgment in any court of competent jurisdiction.

19.8 No Class Actions.

NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS (INCLUDING AS PRIVATE ATTORNEY GENERAL ON BEHALF OF OTHERS), EVEN IF THE CLAIM OR CLAIMS THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED (OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE ACTIONS IN A COURT. Unless consented to in writing by all parties to the arbitration, no party to the arbitration may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. Except for claims seeking public injunctive relief and unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (a) determine the rights, obligations, or interests of anyone other than a named party, or resolve any Claim of anyone other than a named party; nor (b) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this Section 19.8, and any attempt to do so, whether by rule, policy, arbitration decision or otherwise, shall be invalid and unenforceable. Any challenge to the validity of this Section 19.8 shall be determined exclusively by a court and not by the administrator or any arbitrator.

19.9 Survival and Severability of Arbitration Provision.

This Arbitration Provision shall survive the termination of this Agreement. If any portion of this Arbitration Provision other than Section 19.8 is deemed invalid or unenforceable, the remaining portions of this Arbitration Provision shall nevertheless remain valid and in force. If there is a final judicial determination that applicable law precludes enforcement of this Arbitration Provision's limitations as to a particular claim for relief or particular term, then that claim (and only that claim) or that term (and only that term) must be severed from the Arbitration Provision and may be brought in court. If an arbitration is brought on a class, representative, or collective basis, and the limitations on such proceedings in Section 19.8 are finally adjudicated pursuant to the last sentence of Section 19.8 to be unenforceable, then no arbitration shall be had. In no event shall any invalidation be deemed to authorize an arbitrator to determine Claims or make awards beyond those authorized in this Arbitration Provision.

19.10 Judicial Forum for Claims.

Except as otherwise required by applicable law, in the event that this Arbitration Provision is found not to apply to you or your Claim, you and Carlos agree that any judicial proceeding (other than small claims actions) will be brought in the federal or state courts of Bexar County, Texas. Both you and Carlos consent to venue and personal jurisdiction there. We both agree to waive our right to a jury trial.

19.11 WAIVER OF RIGHT TO LITIGATE.

THE PARTIES ACKNOWLEDGE THAT THEY HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY BUT WILL NOT HAVE THAT RIGHT IF ANY PARTY ELECTS ARBITRATION PURSUANT TO THIS ARBITRATION PROVISION. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY ANY PARTY.

20. GOVERNING LAW AND VENUE

Except for Section 19 which is governed by the FAA, this Agreement and all Claims are governed by the laws of the State of Delaware, without regard to conflict-of-law rules.

21. ELECTRONIC FUND TRANSFER DISCLOSURE STATEMENT

The following disclosures are made in accordance with the federal law regarding electronic payments, deposits, transfers of funds and other electronic transfers. There may be limitations on your Linked Account or debit card that restrict your ability to make electronic fund transfers. Any such limits are disclosed in the appropriate agreements governing your Linked Account or debit card. The disclosures in this Section 22 apply to all Services described in this Agreement.

22.1 Definitions.

Electronic Fund Transfer: Any transfer of funds that is initiated through an electronic device or computer to instruct us to debit or credit a Linked Account. Electronic Fund Transfers include such electronic transactions transfers initiated via telephone or the Mobile App.

Preauthorized Electronic Fund Transfer: An Electronic Fund Transfer that you have authorized in advance to recur at substantially regular intervals; for example, withdrawal of funds out of your Linked Account to pay the Bank Connection Fee.

Unauthorized Electronic Fund Transfer: An Electronic Fund Transfer initiated by a person other than you who does not have actual, implied, or apparent authority to initiate the transfer, and from which you do not benefit. If you give access to your Carlos User Account to another person, all payments by that person are authorized unless and until you notify us that payments by that person are no longer authorized.

22.2 Your Liability.

Authorized Transfers: You are liable for all Electronic Fund Transfers that you authorize, whether directly or indirectly.

Unauthorized Transfers: Tell us at once if you believe your User Information has been lost or stolen or if your Carlos User Account has been, or may have been, subject to Unauthorized Electronic Fund Transfers. Contact us immediately to keep your possible losses to a minimum. You could lose all the money in your Linked Account(s).

If you tell us within four (4) business days after learning of the loss or theft of your User Information or after learning of any other Unauthorized Electronic Fund Transfers associated with your Carlos User Account, you can lose no more than $50. However, if you DO NOT tell us within four (4) business days after learning of the loss, theft or unauthorized use associated with your Carlos User Account, and we can establish that we could have prevented the Unauthorized Electronic Fund Transfer(s) if you had told us in time, you could lose as much as $500.

If your periodic account statement issued by your bank or financial institution shows Unauthorized Electronic Fund Transfers and you DO NOT tell us within ninety (90) days after the statement was delivered to you, you may not get back any money you lose after the ninety (90) day period if we can prove that we could have prevented the unauthorized transfer(s) if you had told us in time. If an extenuating circumstance (such as extended travel or hospitalization) prevents you from promptly notifying us of a suspected lost or stolen User Information or of any other suspected Unauthorized Electronic Fund Transfers(s), the time periods specified in this Section 22.2 may be extended for a reasonable period.

22.3 Business Days.

For purposes of this Section 22, Carlos business days are Monday through Friday. Holidays are not included.

22.4 Types of Transfers; Limitations.

Through the Mobile App you may authorize recurring preauthorized Electronic Fund Transfers from your Linked Account to pay for the Bank Connection Fee.

22.7 Our Liability.

See Sections 15 and 16 above. If Carlos does not debit or credit your Linked Account in accordance with these Terms, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

If the Services were not working properly and you knew about the problems when you started your payment.

If we cannot complete a payment due to fraud or attacks on our systems or the Services.

If circumstances beyond our control (such as fire or flood) prevent a payment, despite reasonable precautions we have taken.

22.8 Confidentiality Related to Electronic Fund Transfers.

We will disclose information to third parties about the Electronic Fund Transfers you make through the Services:

Where it is necessary for completing the Electronic Fund Transfers; or,

In order to comply with government agency or court orders; or,

If you give us written permission; or,

As otherwise provided in our Privacy Policy.

22.9 Error Resolution

In case of errors or questions about your Electronic Fund Transfers, email us at contact@getcarlos.com. If you think your Linked Account statement, receipt, or payment history within the Mobile App are wrong, or if you need more information about a transfer listed on the statement, receipt, or within the Mobile App, contact us as soon as you can. We must hear from you no later than 90 days after the statement or receipt was delivered to you. In your notification to us, you must:

Tell us your name and phone number associated with your Carlos User Account.

Describe the error or the transfer you are unsure about and explain as clearly as you can why you believe it is an error or why you need more information.

Tell us the dollar amount of the suspected error.

If you tell us orally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your Linked Account within 10 business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new Carlos User Accounts, we may take up to 90 days to investigate your complaint or question. For new Carlos User Accounts, we may take up to 20 business days to credit your Linked Account for the amount you think is in error. We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation. You may ask for copies of the documents that we used in our investigation.

ALL QUESTIONS ABOUT TRANSACTIONS MADE THROUGH THE CARLOS SERVICES MUST BE DIRECTED TO CARLOS, AND NOT TO THE BANK OR OTHER FINANCIAL INSTITUTION WHERE YOU HAVE YOUR LINKED ACCOUNT. We are responsible for the Services and for resolving any errors in transactions made in conjunction with such Services.

We will not send you a periodic statement listing transactions that you make through the Services. The transactions will appear only on the statement issued by your bank or other financial institution. SAVE THE RECEIPTS YOU ARE PROVIDED WHEN YOU USE THE SERVICES, AND CHECK THEM AGAINST THE ACCOUNT STATEMENT YOU RECEIVE FROM YOUR BANK OR OTHER FINANCIAL INSTITUTION. If you have any questions about one of these transactions, call or write us at the telephone number and address indicated below:

Red Technology Ventures LLC, ATTN: Legal, 14934 Webb Chapel Road Suite 16A Farmers Branch, TX 75234

Email: contact@getcarlos.com

IF YOUR USER INFORMATION IS LOST OR STOLEN, NOTIFY US AT ONCE by calling or writing to us at the telephone number or address listed above.

23. SEVERABILITY

If any provision of this Agreement is found to be invalid, unlawful, void, or unenforceable by either an arbitrator or a court of competent jurisdiction, this Agreement's remaining provisions shall be enforced to the fullest extent possible, and the remaining provisions of the Agreement shall remain in full force and effect.

24. WAIVER

You agree that if Carlos does not enforce any of its legal rights or remedies under this Agreement, or other legal rights or remedies Carlos has under applicable laws, this shall not be construed as a formal waiver of those rights or remedies or any other rights in any way whatsoever.

25. Mobile App Availability

We shall have the right, in our sole discretion and with reasonable notice, to establish or change limits concerning use of the Mobile App features, temporarily or permanently, including but not limited to the number of times and the maximum duration for which you may access the Mobile App in a given period of time. We reserve the right to make any such changes effective immediately to maintain the stability or security of the system or to comply with any laws or regulations. You may reject changes by discontinuing use of the Mobile App features to which such changes relate. Your continued use of the Mobile App will constitute your acceptance of and agreement with such changes. Maintenance upon the Mobile App may be performed from time-to-time resulting in interrupted service, delays or errors in the App features. Attempts to provide prior notice of scheduled maintenance will be made, but Carlos cannot guarantee that such notice will be provided.

26. Links to other websites and services

The Mobile App and our website may contain links to outside services and resources, the availability and content of which Carlos does not control or monitor. We are not responsible for examining or evaluating, and we cannot guarantee and expressly do not warrant the offerings of these businesses or individuals or the content of their web sites. Except where an endorsement or relationship is expressly disclosed, links to and from such sites do not constitute a Carlos endorsement, and Carlos does not represent or imply that there is any business relationship between Carlos and the other entities. Carlos does not assume any responsibility or liability for the actions, products, and content of these and any other third parties. Any concerns regarding any such service or resource, or any link thereto, should be directed to the particular outside service or resource.

27. CONTACTING US

If you have questions regarding the Agreement or the practices of Carlos, please contact us by mail at Red Technology Ventures LLC, ATTN: Legal, 14934 Webb Chapel Road Suite 16A Farmers Branch, TX 75234

28. GENERAL PROVISIONS

This Agreement is the entire understanding and agreement between you and Carlos. This Agreement supersedes any previous Terms of Use agreement or other agreement to which you and Carlos may have been bound. This Agreement will be binding on, inure to the benefit of, and be enforceable against the parties and their respective successors and assigns. Neither the course of conduct between parties nor trade practice shall act to modify any provision of the Agreement. You may not assign or transfer this Agreement or your rights hereunder, in whole or in part, by operation of law or otherwise, without our prior written consent. We may assign this Agreement or any of our rights or obligations under this Agreement at any time without notice. All rights not expressly granted herein are hereby reserved. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.