User Agreement

1. About this agreement

This User Agreement covers your Liquid wallet and the Liquid Cash in it: adding money, the card fee, limits, spending, locking money at a spot, refunds and disputes. It is part of your agreement with Liquid LLC, 8 The Green STE B, Dover, DE 19901, United States ("Liquid", "we", "us" or "our"), together with the Terms of Service and the Privacy Policy. Words defined in the Terms of Service have the same meaning here.

You are 18 or older. You confirm that you are at least 18 years old. Use of Liquid by anyone under 18 is strictly prohibited. Providing a false date of birth breaks this agreement and leads to your account being closed.

2. Your Liquid wallet and Liquid Cash

When you add money through Liquid, your US dollars are converted into Liquid Cash: the prepaid balance in your Liquid wallet, denominated in US dollars, that exists only within the Liquid app. Your balance has two parts: money you have locked at a spot (section 7), which can be spent only at that spot, and money not locked anywhere, which can be spent at any partner location. Liquid Cash:

• can be spent only at Liquid partner locations, through the Liquid app, and locked money only at the spot where it is locked;
• can't be transferred to another user, sold, or shared with another person, and locked money can't be moved to another spot;
• can't be withdrawn to a bank account or card, or exchanged for cash, gift cards or any other form of value, except for the refunds in section 9;
• doesn't earn interest, and your wallet is not a bank account or a deposit account.

You can have one wallet, and your Liquid account and balance are personal to you. You are responsible for all activity under your account, and you agree not to use Liquid for any fraudulent or unlawful purpose.

3. Adding money

You can add money with a debit or credit card, Apple Pay or Google Pay. We don't accept other payment methods, such as bank transfers or pay-later services.

Current limits:

• each deposit is between $10 and $500, in whole dollars;
• you can add up to $2,000 in any 24 hours (payments that are still processing count toward this limit);
• your wallet balance can be at most $2,000, including payments that are still processing.

We may change these limits. We may also set lower limits for an account, for example to prevent fraud.

4. The card-processing fee

Card payments cost money to process. So that your wallet gets exactly the amount you choose, we add a card-processing fee to each deposit. The app shows you the fee and the total charge before you pay, and your wallet is credited exactly the amount you chose.

How the fee is calculated. The card charge is

charge = (amount you add + $0.30) ÷ (1 − 0.029), rounded up to a whole cent

and the fee is the charge minus the amount you add. For example:

This is the only fee you pay: there are no hidden fees, and Liquid doesn't add a service fee to your orders or charge anything to lock money at a spot. If the fee changes, we update this agreement, and the app always shows the exact fee and total for your deposit before you pay. If the fee changed between the moment you saw it and the moment you pay, the app shows the new total and asks you to confirm again. The card fee is not refunded in any case.

5. How your money moves

When you add money, your card is charged by Stripe, a licensed payment processor, not by Liquid. The underlying funds are held by Stripe in Liquid's Stripe platform account, and Stripe pays partner locations after the settlement period. Liquid keeps your Liquid Cash ledger, calculates your discounts and instructs Stripe. Liquid is not a bank, money transmitter or financial institution.

Money is added to your wallet once your card payment is confirmed, which usually takes less than a minute. If your payment went through but your balance still hasn't updated after that, contact us at team@liquidwallet.co with the time and the amount. A payment that fails or is canceled isn't added, and you aren't charged for it. We e-mail you a receipt for each deposit.

6. Spending your balance

You pay for orders from your wallet in the app. At a spot where you have money locked, the money locked there is used first, oldest lock first, and then money not locked anywhere; at any other spot, only money not locked anywhere can be used. Money not locked anywhere is used from your deposits in the order you made them: your oldest deposit that still has money in it is used first. You can pay only if the money you can spend at that spot covers the total shown at checkout. Once you confirm an order, the amount is taken from your wallet immediately, and we e-mail you a receipt.

7. Lock-in and other discounts

Discounts are applied automatically. Lock-in: you can lock money that isn't locked anywhere at a spot that offers lock-in and can take payments in the app, in whole dollars and up to $2,000 at a time. Locking doesn't charge your card or pay the spot: the money stays in your wallet, set aside for that spot, and is paid to the spot only when you spend it there. Each spot sets up to five lock-in tiers, each an amount and a discount. When you lock money, it gets the rate of the spot's highest tier at or below the amount you have locked there right after the lock (if that amount doesn't reach the lowest tier, the lock isn't made), and any money you already had locked there at a lower rate moves up to that rate. Rates never go down: spending doesn't lower them, and a later change to the spot's tiers applies only to later locks.

At that spot, your locked money pays for the items in your order one by one, starting with the items that have the smallest other discount, and each item it pays for gets the rate of the locked money that pays for it when that saves more than the item's other discounts. If your order has items in a buy one, get one deal, Liquid also works out your order with your locked money offered to those items last, and uses whichever way saves you more. If a flash sale, off-peak or buy one, get one discount that the spot has set saves more on an item, that discount applies to the item instead: each item gets the single best discount available to it, and discounts don't stack on an item. Items paid for with money not locked anywhere get flash-sale, off-peak and buy one, get one discounts only. When an order, or an item of it, paid with locked money is refunded, that money goes back to its lock, at its rate.

Locked money never expires. You can't unlock it or move it to another spot. If a spot stops taking Liquid, the money still locked there goes back to your balance, not locked anywhere, and you can spend it at any partner location.

Discounts are set by the spots, not by Liquid, aren't guaranteed and may change at any time, except that money you have already locked keeps its rate. The discount you see at checkout is calculated when you check out and may differ from past or future orders at the same spot. Your discount is real: the discount shown at checkout is the amount taken off your order, and you pay less from your balance.

8. Paying only in the app

You pay only for orders you place in the Liquid app, from your wallet. Spots don't take Liquid payments at the counter, Liquid has no payment codes, and spots never scan a code from your phone to take payment.

9. Refunds and withdrawals

Adding money is a purchase of Liquid Cash, not a bank deposit. Deposits can't be refunded or withdrawn, with two exceptions, which apply to your whole balance, including money you have locked at a spot:

1. If you delete your account, we refund your remaining balance to the card or cards you paid with. The card-processing fee isn't refunded. Refunds usually appear on your statement within 5–10 business days, depending on your card issuer.
2. Where state law requires a cash-out, for example of a small remaining balance, e-mail us at team@liquidwallet.co from the address on your Liquid account. We confirm the amount with you and refund it to your card or cards, starting with your most recent card payments.

Outside these two exceptions, we don't refund deposits or unlock locked money, including when you made a deposit or a lock by mistake. If a partner location you intended to visit stops taking Liquid, your balance stays available at the other partner locations: money you had locked at that location goes back to your balance, not locked anywhere.

Refunds of orders (by a spot or by Liquid support) go back into your Liquid wallet, not onto a card, and money that came from a lock goes back to that lock. See the Terms of Service.

10. Goodwill credit

We may add credit to your wallet as a goodwill gesture, for example after a problem with an order. Goodwill credit can be spent, and locked at a spot, like the rest of your balance, but it can't be refunded to a card, and any unspent goodwill credit, including goodwill credit locked at a spot, is removed if you delete your account. The account deletion screen shows you any amount that would be removed.

11. Card disputes and chargebacks

If you dispute a deposit with your card issuer (a chargeback or inquiry):

• we put your wallet on hold while the dispute is open, so you can't spend or add money;
• the disputed amount, up to what is left of that deposit, is held and can't be spent; if part of that deposit is locked at a spot, the most recent of those locks are reduced first;
• if the dispute is decided in our favor, the held amount is returned to your wallet, and to the locks it was taken from; if it is decided in yours, the held amount stays removed because your card issuer returned the money to you;
• after the dispute closes, your wallet stays on hold until our support team has reviewed it.

Any loss from a dispute is Liquid's: spots are not charged for disputes about your deposits. If you have a problem with a deposit, please contact us first; we can often fix it faster than a dispute. While a dispute is open, you can't delete your account.

12. Keeping your wallet secure

Keep your sign-in details and your phone secure, and tell us immediately at team@liquidwallet.co if you think someone has used your account or your wallet without permission. We may put your wallet on hold to protect it while we investigate.

13. Inactive accounts

Your balance doesn't expire, including money you have locked at a spot.

14. Deleting your account

You can delete your account in the app (Profile → Delete account) or at liquidwallet.co/account/delete. Before you confirm, we show you your balance and the refund each card will receive. When you delete your account:

• your remaining balance (except goodwill credit), including money you have locked at a spot, is refunded to the card or cards you paid with, and the card fee isn't refunded;
• you're signed out on every device and can't sign in again;
• your personal details are deleted as the Privacy Policy explains, and records of your deposits, orders, refunds and payouts are kept for 7 years, as the law requires, in a form that no longer identifies you by name.

You can't delete your account while an order is in progress, while a card dispute is open, or while you are the only owner of a business on Liquid. A payment that is still processing when you delete your account is refunded to your card if it goes through.

15. Receipts and records

We e-mail you a receipt for every deposit and every order, and your wallet activity, including what you have locked at each spot, is available in the app. Please check them and tell us about any error as soon as you notice it.

16. Accepting and changing this agreement

You accept this agreement by ticking the box at sign-up. We record the version you accepted and when. Liquid may update this agreement, the Terms of Service and the Privacy Policy from time to time. When we make a major change, the app shows you the new version, and you need to accept it before your next deposit or order. Minor changes fix mistakes or clarify wording without changing your rights; continuing to use Liquid after a change takes effect means you accept it. Every version stays available on liquidwallet.co.

17. Governing law

This agreement is governed by the laws of the State of Maryland. Any dispute arising under this agreement or your use of Liquid will be resolved through binding arbitration on an individual basis, as the Terms of Service explain.

18. Contact

Liquid LLC, 8 The Green STE B, Dover, DE 19901, United States

For all questions about your account, a transaction or your Liquid Cash balance: team@liquidwallet.co

By creating your account, you confirm that you have read this agreement and understand that your deposits are converted into Liquid Cash, which can be spent only at Liquid partner locations (and money you lock at a spot only at that spot) and is refunded only as section 9 explains.