Terms of Service

1. About these Terms

These Terms of Service (the "Terms") are a binding agreement between you and Mustard ("Mustard", "we", "us", or "our"). They govern your use of the Mustard mobile app, our money transfer services, and our website at mustardmsb.com (together, the "Service"). By joining our waitlist, creating an account, or using the Service, you agree to these Terms and to our Privacy Policy, E-Sign Consent, and Acceptable Use Policy, which form part of them. If you do not agree, do not use the Service.

2. Who we are, and what we are not

Mustard provides money transmission services and is registered with the U.S. Financial Crimes Enforcement Network (FinCEN) as a Money Services Business. Banking, funding, custody, and payout services are provided together with our licensed banking and payment partners.

Mustard is not a bank. Your Mustard balance is not a bank account or a deposit, earns no interest, and is not insured by the FDIC.

3. The waitlist

Before launch, our website lets you join a waitlist. Joining does not create an account, does not guarantee access to the Service, and does not oblige you to use it. We may contact you about the launch, and we may change or close the waitlist at any time.

4. Eligibility

To use the Service you must be at least 18 years old, a resident of the United States, and legally able to enter into a binding contract. You may hold only one account, and you must complete identity verification before you send money. You may not use the Service if you are subject to U.S. sanctions, are located in a prohibited jurisdiction, or have previously been suspended or removed. Where the law permits, we may refuse, condition, suspend, or close the Service for any person.

5. Your account and security

You are responsible for the accuracy of the information you give us and for keeping it current. You are responsible for the security of your device, password, PIN, and biometrics, and for all activity under your account. Tell us immediately at support@mustardmsb.com if you suspect unauthorized access. We may require re-verification or extra authentication at any time to protect your account.

6. Your balance

Your Mustard balance is stored value you use to send money and, where available, to hold and convert supported currencies. Customer funds are held in pooled, segregated accounts for the benefit of customers at our partner bank, separate from our operating funds. Balances are recorded in whole cents. You may only add money from, and withdraw to, accounts held in your own name.

7. Adding money

When you add money from a linked bank account, you authorize us and our partners to debit that account for the amount you request. If a funding transfer is returned, reversed, or disputed (for example for insufficient funds), you authorize us to reverse the matching credit and recover the amount, including from your balance or future funds. We may hold newly added funds for a reasonable period to manage return and fraud risk before making them available.

8. Sending money

When you send money, you authorize us to debit your balance (or a linked funding source) for the amount you send plus the disclosed fees, and to convert and deliver the funds to the recipient you choose. Before you confirm, we show you the fees, the exchange rate, and the amount your recipient will receive. You are responsible for the accuracy of your recipient's name, account number, and other payment details. We may hold, delay, decline, or reverse a transfer to meet legal, risk, sanctions, or compliance requirements.

9. Verification levels and limits

How much you can send depends on how much of your identity you have verified. Unverified accounts can browse only. The first verified level allows up to $500 per day, the second up to $3,000 per day, and the third up to $10,000 per day. Higher levels require more identity verification. We may apply lower limits, additional checks, or holds based on risk, and limits may change. Limits are controls and do not create an entitlement to transact.

10. Fees and exchange rates

Our pricing is shown before you send: a fee of 1% of the transfer, capped at $6 (or its equivalent), plus a small fixed delivery fee, and the exchange rate applied to the amount delivered. The exchange rate includes our margin and is disclosed as a rate, not as a separate fee. The rate you see when you confirm is the exact rate used for that transfer. Fees and rates may change at any time, and the price shown when you confirm governs that transfer. International transfers carry additional disclosures and cancellation rights, described in our Remittance Transfers notice.

11. Cards

Where available, you can create a virtual card to spend your USD balance. Creating a card costs a one-time $3.00. Cards are issued by our card-issuing partner and are also subject to that partner's cardholder terms.

12. Recipients and payment details

You are solely responsible for entering correct recipient and payment information. We and our partners generally rely on the account number or identifier you provide to route funds, even if it belongs to a person or institution different from the name you enter. Incorrect details may cause funds to be delayed, misdirected, or unrecoverable. Your error-resolution rights for international transfers still apply where the law requires.

13. Compliance, screening, and holds

The law requires us to verify identities, screen senders and recipients against sanctions and watchlists before money moves, monitor for suspicious activity, and file reports. To meet these obligations we may hold, freeze, reverse, delay, or refuse any transaction, ask you for more information or documents, and close your account. Where the law prohibits it, we will not tell you the reason for a hold or a report.

14. Acceptable use

You agree to use the Service only for lawful, personal, non-commercial transfers and to follow our Acceptable Use Policy. You may not use the Service for prohibited transactions, to evade sanctions, taxes, or reporting, or on behalf of an undisclosed third party. Violations may lead to suspension or closure of your account, reversal of transactions, and reporting to authorities.

15. Unauthorized transactions

Tell us at once at support@mustardmsb.com if you believe your account or device has been compromised or that a transfer was made without your authorization. For electronic fund transfers covered by federal law, your liability and our error-resolution duties are limited as the Electronic Fund Transfer Act and Regulation E require. Reporting promptly helps limit your liability. Nothing in this section limits your rights for international transfers.

16. Closing your account

You may close your account at any time. When you do, we return any eligible remaining balance to a verified account in your name, subject to holds, amounts you owe us, and any period the law requires. We may suspend or close your account for breaches of these Terms, for legal or risk reasons, or after a long period of inactivity. Unclaimed balances may be reported and paid to the appropriate state under unclaimed property laws.

17. Intellectual property

The Service, including the Mustard app, website, name, logo, and content, belongs to Mustard or its licensors and is protected by law. We grant you a limited, personal, non-exclusive, non-transferable, revocable license to use the app for its intended purpose. You may not copy, modify, distribute, sell, or reverse engineer the Service except as the law permits. If you send us feedback, you grant us a perpetual, royalty-free license to use it.

18. Third-party services

The Service relies on third parties, such as banks and identity-verification, payment, and payout providers, and may link to third-party services. We are not responsible for third-party services or content, and their own terms and privacy policies may apply to your use of them.

19. Disclaimers

To the fullest extent the law allows, the Service is provided "as is" and "as available", without warranties of any kind, express or implied, including merchantability, fitness for a particular purpose, and non-infringement. We do not warrant that the Service will be uninterrupted, timely, secure, or error-free, or that a recipient's institution will make funds available by any particular time. Figures shown on our website, such as rates and fees in examples, are illustrative.

20. Limitation of liability

To the fullest extent the law allows, Mustard and its affiliates and service providers are not liable for any indirect, incidental, special, consequential, or punitive damages, or for lost profits or goodwill. Our total liability arising out of or relating to the Service is limited to the greater of the fees you paid us in the three months before the event giving rise to the claim, or $100. Nothing in these Terms limits liability that cannot be limited by law, including your rights for international transfers and under the Electronic Fund Transfer Act.

21. Indemnification

You agree to indemnify and hold harmless Mustard and its affiliates and service providers from claims, losses, and expenses (including reasonable legal fees) arising from your use of the Service, your breach of these Terms or the law, or your infringement of anyone's rights, except to the extent caused by our own misconduct.

22. Disputes and arbitration

Please read this section carefully. Except where the law prohibits it, you and Mustard agree to resolve any dispute through binding individual arbitration administered by the American Arbitration Association under its Consumer Arbitration Rules, rather than in court. You and Mustard each waive the right to a jury trial and to take part in a class action.

You may opt out of arbitration within 30 days of first accepting these Terms by emailing support@mustardmsb.com with your name and a clear statement that you opt out. This section does not stop either of us from bringing a qualifying claim in small claims court, and it does not affect your right to use the error-resolution process for international transfers or to contact a regulator.

23. Governing law

These Terms are governed by U.S. federal law and the laws of the state in which Mustard is organized, without regard to conflict-of-laws principles, except where a mandatory consumer protection law of your state of residence provides otherwise.

24. Changes to these Terms

We may update these Terms from time to time. If a change is material, we will tell you in the app or by email and update the date above. Changes are not retroactive. If you keep using the Service after a change takes effect, you accept the updated Terms. If you do not agree, stop using the Service and close your account.

25. General

These Terms and the policies they reference are the entire agreement between you and us about the Service. If any part is found unenforceable, the rest remains in effect. Not enforcing a provision is not a waiver. You may not assign these Terms; we may assign them to an affiliate or successor. We are not liable for delays or failures caused by events beyond our reasonable control. Provisions that by their nature should survive termination will survive.

26. Contact

Questions or notices about these Terms: support@mustardmsb.com.