Business Account Agreement

1.1 Banking Relationship. Bark operates as a financial technology platform, not an FDIC-insured bank. Your deposit accounts are established with and maintained by Piermont Bank, Member FDIC. Bark provides technology services to facilitate your access to these banking services.

1.2 FDIC Insurance. Funds in your business checking and savings accounts are FDIC-insured up to applicable limits. The standard FDIC insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Additional coverage may be available through our sweep network program.

1.3 Sweep Network Program. To maximize FDIC insurance coverage, funds exceeding the standard limit may be automatically swept to deposit accounts at multiple FDIC-insured banks within our network. Each bank provides up to $250,000 in FDIC insurance, potentially extending your total coverage up to $5 million.

1.4 Account Types. We offer:

• Business Checking Accounts - for daily operations and transactions
• Business Savings Accounts - for reserves and longer-term funds
• Treasury Accounts - investment accounts managed by Bark Securities LLC

2.1 Business Accounts Only. Accounts are available exclusively to legally registered business entities. We do not offer personal or consumer accounts.

2.2 Eligibility Requirements. To open an account, your business must:

• Be legally registered and in good standing in its jurisdiction
• Have a valid U.S. address and Employer Identification Number (EIN)
• Not be engaged in prohibited business activities

2.3 Prohibited Businesses. We cannot provide accounts to businesses involved in:

• Money services businesses or cryptocurrency exchanges
• Cannabis-related businesses (including CBD)
• Online gambling or gaming
• Adult entertainment
• Pyramid schemes or multi-level marketing
• Businesses on sanctions lists
• Other activities we deem high-risk

2.4 Required Documentation. You must provide:

• Formation documents (Articles of Incorporation, Operating Agreement)
• EIN confirmation letter from IRS
• Beneficial ownership information (owners with 25% or more)
• Valid government-issued ID for authorized signers
• Business licenses if applicable

3.1 Account Ownership. The account belongs to the business entity named on the application. The business is responsible for all activity and obligations related to the account.

3.2 Authorized Users. You may designate authorized users who can:

• Access account information
• Initiate transactions
• Manage account settings
• Request cards and services

You are responsible for all actions taken by authorized users and must promptly notify us of any changes to authorization.

3.3 Power of Attorney. We may accept a power of attorney to act on the account, subject to our verification procedures and applicable law.

3.4 Fiduciary Accounts. For accounts held in a fiduciary capacity, additional documentation and terms may apply.

4.1 Deposit Methods. You may deposit funds through:

• ACH transfers
• Wire transfers (domestic and international)
• Mobile check deposit
• Internal transfers from other Bark accounts

4.2 Funds Availability. Funds availability follows this schedule:

• Wire transfers: Same business day if received before 5:00 PM ET
• ACH credits: Available on the settlement date
• Mobile check deposits: Up to 5 business days
• Internal transfers: Immediate

4.3 Deposit Holds. We may place holds on deposits for:

• Large or unusual deposits
• Deposits to new accounts
• Repeated overdrafts
• Reasonable doubt about collectibility
• Emergency conditions

4.4 Deposit Corrections. We may reverse, adjust, or correct deposits if:

• The deposit was made in error
• The deposit is returned unpaid
• We receive a valid claim to the funds
• Required by law or court order

5.1 Withdrawal Methods. You may withdraw funds through:

• ACH transfers
• Wire transfers
• Debit card transactions
• Bill payments
• Internal transfers
• Written checks (if checkbook ordered)

5.2 Transaction Limits. Certain transactions are subject to daily and monthly limits:

• Please contact us for specific details

Limits may vary based on account history and risk profile.

5.3 Transaction Authorization. By initiating a transaction, you authorize us to:

• Debit your account for the transaction amount
• Charge applicable fees
• Share necessary information with payment networks
• Act on your instructions

5.4 Stop Payments. You may request a stop payment on:

• Checks not yet presented
• Scheduled ACH transfers
• Recurring payments (with proper notice)

Stop payment requests must be received in time for us to act and may incur a fee.

6.1 No Monthly Fees. We do not charge monthly maintenance fees for standard business accounts.

6.2 Transaction Fees. Most transactions are free, including:

• Unlimited ACH transfers
• Domestic wire transfers
• International wire transfers in USD
• Bill payments
• Internal transfers

6.3 Fee Changes. We may modify fees with 30 days' advance notice. Current fee schedule is available at bark.finance/fees.

7.1 No Overdraft Fees. We do not charge overdraft or NSF fees. Transactions that would overdraw your account will be declined.

7.2 Overdraft Prevention. We automatically decline transactions that would result in a negative balance, including:

• Debit card transactions
• ACH debits
• Wire transfers
• Bill payments

7.3 Negative Balances. If your account becomes negative due to:

• Reversed deposits
• Chargebacks
• Fee assessments
• Legal orders

You must immediately deposit funds to cover the negative balance.

8.1 Electronic Statements. We provide monthly electronic statements through your online account. Statements include:

• Beginning and ending balances
• All transactions during the period
• Fees charged
• Interest earned (if applicable)

8.2 Review Obligations. You must promptly review statements and notify us within 60 days of any:

• Unauthorized transactions
• Errors or discrepancies
• Missing deposits
• Incorrect charges

8.3 Electronic Communications. You agree to receive all communications electronically, including:

• Account statements
• Legal notices
• Privacy policies
• Fee changes
• Service updates

8.4 Address Changes. You must promptly notify us of any changes to your:

• Business address
• Email address
• Phone number
• Authorized signers

9.1 Access Channels. You may access your account through:

• Web platform at bark.finance
• Mobile applications (iOS and Android)
• API integration
• Third-party integrations you authorize

9.2 Security Requirements. You must:

• Maintain strong, unique passwords
• Enable two-factor authentication
• Keep login credentials confidential
• Log out after each session on shared devices
• Promptly report unauthorized access

9.3 Mobile Check Deposit. When using mobile deposit:

• Endorse check with "For Mobile Deposit Only"
• Keep original check for 30 days
• Destroy check after verification
• Do not deposit check elsewhere

9.4 Service Availability. While we strive for continuous availability, services may be temporarily unavailable due to:

• Scheduled maintenance
• System upgrades
• Security measures
• Circumstances beyond our control

10.1 Reporting Errors. If you believe an error has occurred:

• Contact us immediately
• Provide transaction details
• Explain why you believe it's an error
• Provide supporting documentation

10.2 Investigation Process. We will:

• Investigate promptly (within 10 business days)
• Provide provisional credit if investigation exceeds 10 days
• Complete investigation within 45 days (90 for new accounts)
• Notify you of our findings in writing

10.3 Electronic Transfer Errors. For electronic transfers, additional protections under Regulation E may apply, including:

• Limited liability for unauthorized transfers
• Specific timeframes for reporting
• Right to documentation
• Error resolution procedures

11.1 Voluntary Closure. You may close your account at any time by:

• Settling all outstanding transactions
• Paying any fees owed
• Transferring remaining balance
• Destroying cards and checks
• Submitting closure request

11.2 Involuntary Closure. We may close or suspend your account if:

• You violate this Agreement or our Terms of Service
• We suspect fraud or illegal activity
• You provide false information
• Your business becomes ineligible
• Required by law or regulation
• Account remains inactive for extended period

11.3 Effect of Closure. Upon closure:

• Pending transactions may be cancelled
• Recurring payments must be redirected
• We'll send remaining balance via check or transfer
• You remain liable for transactions before closure

11.4 Dormant Accounts. Accounts with no activity for 12 months may be considered dormant. We may charge dormancy fees or escheat funds to the state as required by law.

12.1 Legal Orders. We will comply with legal process including:

• Subpoenas
• Court orders
• Levies
• Garnishments
• Tax withholding orders

12.2 Freezes and Holds. We may freeze or hold funds when:

• Required by legal process
• Investigating potential fraud
• Dispute between account owners
• Protecting against losses

12.3 Setoff Rights. We may exercise setoff rights to collect amounts you owe us by debiting any account you maintain with us or our affiliates.

13.1 Limitation of Liability. Except as required by law, we are not liable for:

• Actions of third parties
• Your acts or omissions
• Service interruptions beyond our control
• Consequential or indirect damages

13.2 Your Indemnification. You agree to indemnify us from losses arising from:

• Your breach of this Agreement
• Your negligence or misconduct
• Actions of your authorized users
• Your violation of law

13.3 Force Majeure. Neither party is liable for delays or failures due to circumstances beyond reasonable control, including natural disasters, acts of war, pandemic, or government actions.

14.1 Governing Law. This Agreement is governed by federal law and the laws of Delaware, without regard to conflict of law principles.

14.2 Dispute Resolution. Disputes will be resolved through binding arbitration as outlined in our Terms of Service, except where prohibited by law.

14.3 Regulatory Authority. Banking services are subject to regulation by:

• Federal Deposit Insurance Corporation (FDIC)
• Office of the Comptroller of the Currency (OCC)
• Consumer Financial Protection Bureau (CFPB)
• Applicable state regulators

15.1 Right to Amend. We may amend this Agreement at any time by providing 30 days' advance notice, except where changes are required immediately by law.

15.2 Notice of Changes. We will notify you of changes through:

• Email to your registered address
• Notice in your online account
• Updated agreement on our website

15.3 Acceptance. Continued use of your account after the effective date constitutes acceptance of amendments. If you disagree with changes, you may close your account before the effective date.

For questions about your business account:

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