Terms & Conditions - Bounce by Trampoline Finance Inc.

These Terms & Conditions ("Agreement") govern your use of the Bounce app and associated services, provided by Trampoline Finance Inc. (“Trampoline,” “we,” or “us”). By using Bounce, you agree to comply with and be bound by these terms.

1. Introduction

This agreement (the “Agreement”) constitutes a legal agreement between you (the “User”) and Trampoline Finance Inc. and its affiliates (“Trampoline”), a Canadian-registered money services business (referred to as “we,” “us,” or “our”). This Agreement, together with any policies or documents referenced within, governs your access to and use of the Trampoline Account (the “Account”) and all associated features and services (collectively, the “Service” or “Services”). By creating a User Account and/or using the Services, you agree to be bound by these Terms and Conditions.

2. Definitions and Interpretations

a) Money Movement Processes

Trampoline offers several transaction flows to accommodate different transfer needs. Each flow ensures security and compliance with regulatory standards:

User Send Money Flow: Users may initiate transfers to other users directly within the app. These transactions undergo a verification process before completion to ensure compliance with security protocols.
User Request Money Flow: Users may request funds from other users directly within the app. The recipient will receive a notification and can choose to approve or deny the request. If approved, the requested amount will be transferred to the requester’s account following standard verification procedures.
Splitting Expenses Flow: Users have the option to join groups with other users to split expenses. Once an expense is created within the group, the app calculates each user’s share and enables group members to settle their portions with each other. Transfers related to expense splits are also monitored for security and compliance.

3. Eligibility

To register for an Account, you represent and warrant that you:

Are a resident of Canada.
Are at least fourteen (14) years of age.
Have provided truthful, accurate, and complete information during the registration process.
Will comply with all terms of this Agreement and all applicable laws, including the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (“the Act”).
Are not using (or will be using) your user account on behalf of another person or entity.

As a registered user, you agree to maintain accurate and current information with us and are solely responsible for safeguarding your login credentials.

4. Account Verification and Security

Upon registration, we may require you to provide identification information as part of our onboarding process, in accordance with the Act. You agree to cooperate with any requests for identification information, which may include but is not limited to government-issued ID, proof of address, email, and verification of your financial accounts.

By providing us with a mobile number, you consent to receiving transactional and service-related communications. You are responsible for maintaining accurate contact information and ensuring that your login credentials are confidential.

In the event of any unauthorized access, loss, or theft of your credentials, you agree to notify us immediately. You are liable for all activities on your Account until such notice is received.

5. Electronic Delivery of Information

All notifications, including statements, transaction history, and other Account-related communications (“Account Information”), will be delivered electronically through the Site, app notifications, email, or SMS. By agreeing to this Agreement, you consent to electronic delivery of all communications. It is your responsibility to review Account Information and notify us of any discrepancies within fifteen (15) days of delivery.

6. Transfers and Transactions

Trampoline facilitates secure money transfers through electronic funds transfer (EFT) as part of its services. By using the Services, you agree to comply with the terms and processes outlined below.

a) Transaction Completion and Settlements

Even though we do our best to reduce transaction settlement times to a minimum, these settlement times may vary based on the flow type, risk assessments, and compliance requirements. Delays may also occur due to external factors, including delays from the recipient's financial institution or security reviews. You are responsible for ensuring that sufficient funds are available in your Account for each transaction to avoid delays or interruptions.

b) Transaction Limits and Limitations

Transactions made through Trampoline are subject to limits set by Trampoline and regulatory requirements. Limits may be imposed based on daily, weekly, or per-transaction amounts and are influenced by compliance and risk protocols. Certain transactions may require additional approval and verification based on real-time risk assessments conducted through partners.

Transactions may be denied or delayed if flagged as potentially fraudulent or high-risk, in which case the User Account holder may be required to provide additional verification or documentation. Trampoline reserves the right to modify transaction limits or requirements based on evolving security, regulatory, or business needs.

c) Security and Monitoring

All transactions are monitored in real-time to comply with our security protocols, regulatory guidelines, and internal policies. This includes verification and assessment to detect potentially fraudulent activity or suspicious behavior.

Trampoline employs real-time transaction monitoring to detect suspicious or unauthorized activity. Transactions may be subject to review, verification, or security holds based on risk assessments. Transactions flagged as high-risk may require additional documentation or approval and may be canceled if deemed fraudulent or non-compliant with this Agreement or applicable laws.

Trampoline Finance Inc. needs to report any suspicious transactions or user behaviors to FINTRAC, in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). Under this law, Trampoline is required to monitor, report, and take action on transactions that appear suspicious or are linked to potential money laundering or terrorist financing activities. As a regulated Money Services Business (MSB), Bounce must adhere to stringent compliance obligations, including Know Your Customer (KYC) verification, continuous transaction monitoring, and prompt reporting of any activities that raise red flags, all in line with FINTRAC’s guidelines and the PCMLTFA.

d) Record of Transactions

By using Trampoline’s Services, you acknowledge and agree that Trampoline, the Sender’s financial institution, and the Recipient’s financial institution may retain records of information related to each transaction facilitated through the app. This information may include, but is not limited to:

The names of the Sender and Recipient.
The transit numbers, account numbers, and names of the financial institutions for both the Sender and the Recipient.
Additional transaction details as required for compliance with applicable laws and regulations, including anti-money laundering (AML) and counter-terrorist financing (CTF) obligations..

Trampoline and participating financial institutions will retain transaction records for the period required by applicable laws and regulations. The specific retention period may vary depending on jurisdictional requirements or internal policies.

Transaction records are maintained in a secure environment and may only be accessed by authorized personnel for purposes permitted under this Agreement, such as compliance, security, or dispute resolution. Transaction records will not be disclosed to unauthorized third parties except as required by law or with the consent of the Account Holder.

7. Fees and Payments

Trampoline reserves the right to modify the fee structure with prior notice to users, in compliance with applicable law. Fee modifications will be communicated to users through electronic means.

8. Limited License

We grant you a limited, revocable, non-exclusive, non-transferable (either directly or indirectly) license to access and use the Services and related content solely for personal, non-commercial use, subject to compliance with this Agreement. All rights, title, and interest in the Services and content are the exclusive property of Trampoline.

9. Prohibited Use

In connection with your use of the Services, you agree not to, directly or indirectly:

Violate any terms in this Agreement or any applicable laws, regulations.
Engage in or support fraudulent, misleading, or unauthorized activities, or facilitate others in doing so.
Conduct transactions that involve illegal, unauthorized, or prohibited items or services.
Use another person’s Account without authorization or attempt to circumvent or bypass security measures.
Impersonate any person or entity or misrepresent your affiliation with another person or entity.
Use or attempt to use the Services in a way that results in complaints, disputes, claims, or losses to Trampoline or other users.
Engage in gambling, gaming, or any similar activities involving an entry fee or prize unless permitted by law.
Exploit the Services for rewards, perks, or points from a linked credit card or engage in multi-level marketing, pyramid schemes, or Ponzi schemes.
Conduct any transaction that promotes hate, violence, racial intolerance, or criminal activity.

10. Account Holds and Security

In order to protect the Services, we may implement account holds or restrictions for certain transactions if required by law or internal security measures. We may hold funds on deposit for up to five (5) business days during verification processes.

11. Force Majeure

Trampoline will not be liable for any delay or failure in performance due to circumstances beyond our reasonable control, including but not limited to natural disasters, acts of God, war, terrorism, civil unrest, technical failures, government actions, epidemics, or labor strikes. In such events, Trampoline reserves the right to suspend or terminate the Services without prior notice.

12. Anti-Hacking Provisions

You are prohibited from violating or attempting to violate the security of the Services, including but not limited to:

Using any robot, spider, scraper, or other automated means to access the Site, Services, or content.
Engaging in data mining, scraping, or other unauthorized data retrieval or copying techniques.
Gaining unauthorized access to systems or networks, or interfering with the security, integrity, or functionality of the Services.
Attempting to interfere with the functionality of the Services through unauthorized software, viruses, malware, or other harmful computer codes.
Disrupting, circumventing, or disabling any security features, access controls, or technological measures protecting the Services.

13. Disclaimers and Limitation of Liability

Trampoline provides Bounce “as is” without warranties of any kind. We strive to ensure secure and reliable services but cannot guarantee uninterrupted access or security beyond industry standards. To the extent permitted by law, Trampoline is not liable for any direct, indirect, incidental, or consequential damages related to your use of Bounce.

Trampoline provides the Services “as is” and “as available.” We do not guarantee that Services will always function without interruptions, delays, or errors, and disclaim all warranties, express or implied, to the fullest extent permitted by law. We are not liable for the actions of third parties or other users.

Trampoline will only be liable to you for direct damages arising from our gross negligence or willful misconduct. We are not liable for any indirect, punitive, or consequential damages, including losses from unauthorized transactions.

14. Indemnification

You agree to indemnify and hold Trampoline and its affiliates harmless from any losses, damages, expense and cost, including without limitation costs of defense and attorney’s fees, or claims arising from your use of the Services or breach of this Agreement, regardless whether any such Claim is alleged to have arisen in whole or in part out of the acts or omissions of the Indemnified Party, its directors, officers, employees or agents, and regardless of whether such Claims are based upon the theories of breach of contract, negligence, strict liability in tort, or otherwise.

15. Intellectual Property

All content, features, and functionalities offered through the Services, including but not limited to text, graphics, logos, icons, images, audio clips, digital downloads, and software, are the exclusive property of Trampoline, its affiliates, or its licensors and are protected by copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.

You are granted a limited, revocable, non-exclusive, non-transferable (either directly or indirectly) license to access and use the Services solely for your personal, non-commercial purposes. You agree not to reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, or transmit any content from the Services without our prior written consent, except as follows:

You may temporarily store copies of content in RAM incidental to accessing and viewing the Services.
You may store files that are automatically cached by your browser for display enhancement purposes.

You agree not to:

Use any illustrations, photographs, video or audio sequences, or any graphics separately from the accompanying text.
Delete or alter any copyright, trademark, or other proprietary rights notices from copies of materials from the Services.
Reverse engineer, decompile, or disassemble any portion of the Services or the software used in connection with the Services.

The Trampoline name, logo, and all related names, logos, product and service names, designs, and slogans are trademarks of Trampoline or its affiliates or licensors. You must not use such marks without our prior written permission.

16. Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of the Province of Quebec and the federal laws of Canada applicable therein. The parties irrevocably agree to submit any action, suit, or proceeding arising out of or connected with this Agreement to the exclusive jurisdiction of the appropriate courts located in Montreal, Quebec, Canada.

17. Termination; Suspension of the Account

Trampoline reserves the right to:

Suspend, restrict, or terminate your access to the Services or your Account at our sole discretion, without prior notice, if we believe you have violated this Agreement or if we suspect unauthorized activity.
Place a hold on your Account or specific transactions if required by law, requested by a regulatory authority, or deemed necessary to protect Trampoline, our users, or third parties.

Upon termination or suspension, any pending transactions may be canceled, and any funds in your Account, after deducting applicable fees or amounts owed, may be returned to you as permitted by law. You may close your Account by contacting customer support, but you remain responsible for any outstanding obligations related to the Account.

18. Court Orders, Regulatory Requirements, or Other Legal Process

Trampoline may be required to take specific actions, including freezing, withholding, or remitting funds in your Account, in response to:

Valid subpoenas, court orders, search warrants, or other binding orders from a governmental authority.
Requests or requirements by regulatory agencies or law enforcement bodies.

We reserve the right to determine, at our sole discretion, the actions required under such legal processes and have no obligation to contest or appeal any court order or legal process involving you or your Account.

19. General

a) Assignment

You may not transfer or assign your rights or obligations under this Agreement to any third party without our prior written consent. We may assign or transfer our rights and obligations under this Agreement to any third party at our discretion and without your consent.

b) Severability

If any term or provision of this Agreement is deemed invalid, illegal, or unenforceable, such term will be modified to the minimum extent necessary to give effect to the parties' intent. The remaining provisions of this Agreement will remain in full force and effect.

c) Entire Agreement

This Agreement, including any referenced policies or documents, constitutes the entire understanding between you and Trampoline regarding the use of the Services. Any prior or contemporaneous agreements, representations, or understandings, whether oral or written, are superseded by this Agreement.

d) Headings

Headings are provided for convenience only and do not affect the interpretation of this Agreement.

e) Contact and Communication

For questions or concerns regarding this Agreement, please contact our customer support team through our website or app. We may communicate with you through email, SMS, or app notifications using the contact information provided during registration.

20. Acknowledgement

By creating an Account and using the Services, you acknowledge that you have read, understood, and agree to be bound by this Agreement, including all policies and documents incorporated by reference. You affirm that you have had an opportunity to review and consider the terms and fully understand your rights and obligations.

If you do not agree with any portion of this Agreement, you may not use the Services. Your use of the Services constitutes your acknowledgment and acceptance of this Agreement, as well as any amendments, updates, or modifications as provided by Trampoline.

21. Amendments and Updates

Trampoline reserves the right to modify, update, or revise this Agreement, as well as any policies or documents referenced within, at our sole discretion and at any time. Such amendments may be made to reflect changes in legal or regulatory requirements, improvements to the Services, or other operational needs.

Any material changes to this Agreement will be communicated to you through electronic means, such as email or notifications through the app. Your continued use of the Services after receiving notice of any changes will constitute your acceptance of those changes. If you do not agree with any modifications or updates to this Agreement, you must immediately cease using the Services and may close your Account by contacting customer support.

22. Term and Termination

a) Term

This Agreement shall be effective as of the date you register and create an Account with Trampoline (the “Effective Date”). Unless sooner terminated as specified under this Agreement or applicable law, the term of this Agreement will continue until the later of either the end of the Account Expiry Date or as specified under relevant sections of this Agreement (the “Term”).

b) Termination for Default

In addition to other rights or remedies available under this Agreement or at law, either party may terminate this Agreement, or any part thereof, upon providing written notice to the other party in the event that the other party breaches a material term of this Agreement or fails to observe or perform a material obligation. Such termination will be effective immediately upon notice if the breach remains uncorrected within the period specified in the notice.

c) Termination Due to Bankruptcy or Insolvency

Either party may terminate this Agreement with immediate effect upon written notice if the other party:

Becomes bankrupt or insolvent;
Proposes a compromise or arrangement to creditors;
Has proceedings commenced by or against it under any statute or law related to bankruptcy, insolvency, restructuring, reorganization, liquidation, or dissolution.

Upon such termination, neither party shall have further obligations or liabilities to the other under this Agreement.

d) Waiver of Claims

Each party hereby waives, releases, and renounces all rights, remedies, and claims, including claims for direct or indirect damages, losses, compensation, or lost profits, arising out of this Agreement as a result of a termination by the other party in accordance with this section. This waiver does not apply to rights and obligations explicitly stated as surviving termination.

e) Survival of Obligations

Notwithstanding termination or expiration of this Agreement, certain provisions shall survive and remain effective, including but not limited to:

Limitation of Liability and Disclaimer (Section 13);
Indemnification (Section 14);
Governing Law (Section 16).

These provisions, along with any other obligations or liabilities specified as surviving in this Agreement, will remain in effect and enforceable following the termination or expiration of this Agreement.