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PAYOUTS PRODUCT TERMS

These Payouts Product Terms ("Payout Terms") govern your access to and use of the payouts disbursement services ("Payouts Service") made available through the Whop platform ("Platform"). These Payout Terms are incorporated into and form part of the Whop Terms of Service ("Terms of Service"), and capitalized terms not defined herein have the meanings set forth there. In the event of a conflict between these Payout Terms and the Terms of Service, these Payout Terms control with respect to the Payouts Service.  By using the Payout Service, you are bound by the Dispute Resolution and Arbitration provision in the Terms of Service.

We may revise and update these Payout Terms from time to time. If you continue to access the Payout Services after we post the updated Terms on our website or otherwise give you notice of Terms changes, then you agree to the updated Terms. If you do not accept the updated Terms, you must stop using the Payouts Service.

1. About the Payouts Service

Whop is a technology platform, not a financial institution. The Payout Service enables you to make payouts (“Payouts”) to third parties in accordance with these terms.  The Payouts Service is facilitated through Whop's third-party banking and payment partners ("Financial Institution Partners"). Financial Institution Partners hold all funds used in connection with the Payout Service in accounts maintained for the benefit of Whop's customers. Funds held in connection with the  Payout Service may be eligible for pass-through FDIC insurance subject to applicable requirements and limitations establish by applicable law and the Financial Institution Partners.

All Payout transactions are processed and settled by Financial Institution Partners. Whop provides the interface through which Payouts are initiated and managed.

2. Payout Service Overview

Payouts are disbursements initiated by you through the Platform and processed by Whop's Financial Institution Partners on your behalf. You are responsible for the accuracy of all Payout instructions, including Recipient details, payment method, and amount. Whop processes Payouts based solely on the information you provide.  To allow us to provide the Payout Service, you authorize Whop to share Recipient information with its Financial Institution Partners, payment networks, and service providers as necessary to process Payouts including to satisfy legal and regulatory obligations. You represent that you have all necessary rights and permissions to provide such information.

3. Prefunded Account Required

The Payout Service operates on a prefunded basis. You must maintain sufficient funds in your an account held by our Financial Institution Partners ("Prefunded Account") before initiating any Payout. Whop will not process any Payout for which sufficient funds are not available at the time of submission.

You authorize Whop to instruct its Financial Institution Partners to hold funds in your Prefunded Account and to debit those funds upon your initiation of a Payout. Whop and its Financial Institution Partners reserve the right to place holds on funds in your Prefunded Account where required for compliance, risk management, or regulatory purposes, as further described in Section 7 below.

4. Payout Methods & Estimated Timing

Whop supports various Payout methods including ACH, push-to-card, wire transfer, and check, subject to availability based on your account type, jurisdiction, availability, and applicable law. Any timing estimates are approximate and not guaranteed. Actual settlement time may vary based on Financial Institution Partner processing windows, network cut-off times, and factors outside Whop's reasonable control.

5. Payout Limits

Whop and its Financial Institution Partners may establish and adjust, in their sole discretion, limits on individual Payout amounts, daily or weekly volumes, and transaction frequency. Limits may be set based on your account history, risk profile, transaction patterns, requirements of the Financial Institution Partners or applicable law.

To request a limit increase, please contact Whop support. Whop reserves the right to review any Payout prior to processing and to decline any Payout at its discretion.

6. Accuracy of Instructions

You are solely responsible for the accuracy and completeness of all Payout instructions, including Recipient name, account number, routing number, payment method, and amount. Whop and its Financial Institution Partners will process Payouts based on the information submitted and will not be liable for misdirected, failed, or delayed Payouts resulting from inaccurate or incomplete instructions.

Where Whop or a Financial Institution Partner cannot verify the Recipient's account name, Whop's Financial Institution Partner may process the Payout based on the account number alone.

7. Holds, Suspensions and Reversals

Whop or its Financial Institution Partners may place a hold on, delay, or decline any Payout, or suspend your access to the Payouts Service, where either determines in its sole discretion that:

  • Funds in your Prefunded Account are insufficient to cover the requested Payout;
  • The Payout may be fraudulent, erroneous, or unauthorized;
  • Processing the Payout may violate applicable law, regulatory requirements, or the rules of the applicable payment network ("Rules");
  • Your account is under compliance, risk, or identity verification review; or
  • A Financial Institution Partner requires a hold as directed by law enforcement, a regulatory authority, or its own policies.

Whop will endeavor to notify you of any hold or suspension promptly where permitted by law. Neither Whop nor its Financial Institution Partners will be liable for losses arising from a hold or suspension applied in good faith.

Reversals and Recovery of Funds

If a Payout is reversed, returned, invalidated, or otherwise required to be refunded for any reason, including but not limited to payment network rules, bank error, fraud, or regulatory action (each a “Reversal”), you remain fully liable for the amount of such Reversal and any associated fees.  You authorize Whop and its Financial Institution Partners to recover the amount of any Reversal by:

  • debiting your Prefunded Account;
  • offsetting against funds otherwise payable to you;
  • charging any payment method associated with your account; or
  • pursuing other lawful collection methods.

You agree to promptly replenish your Prefunded Account upon notice of any Reversal.

8. Disputed & Failed Payouts

You must notify Whop of any disputed, failed, or unauthorized Payout as soon as possible but, in any event, no later than  thirty (30) days of the transaction date. After this period, all transactions will be deemed correct and accepted. Whop will investigate disputes in a commercially reasonable manner in accordance with these Terms and applicable Rules.

Whop is not responsible for failed Payouts resulting from Recipient account closures, incorrect Recipient information, or rejection by a Recipient's financial institution. ACH returns may be subject to a return fee as set forth in your pricing schedule.

9. Prohibited Uses

The Payouts Service may not be used in connection with:

  • Any unlawful activity or purpose;
  • Payments to individuals or entities subject to sanctions administered by OFAC or any other applicable regulatory authority;
  • Any activity prohibited by Whop's Acceptable Use Policy; or
  • Any purpose that violates applicable Rules or law.

Whop reserves the right to immediately suspend Payout access upon identification of any prohibited use and to report such activity to its Financial Institution Partners and relevant regulatory authorities.

10. Authorized Users

You are responsible for all Payout activity initiated by individuals you authorize to access the Platform ("Authorized Users"). You agree to maintain appropriate access controls, including promptly revoking access upon any change in an Authorized User's employment or authorization status. You are responsible for maintaining the confidentiality of all Platform credentials and must notify Whop immediately of any known or suspected unauthorized access.

11. Financial Institution Partner Actions

Your use of the Payouts Service is subject to the policies and requirements of Whop's Financial Institution Partners. Financial Institution Partners may independently suspend, hold, or decline to process Payouts in their sole discretion, including as directed by law enforcement or regulatory authorities. Whop is not responsible for actions taken independently by its Financial Institution Partners, and such actions do not constitute a breach of these Payout Terms or the Terms of Service.

12. Fees

Fees applicable to the Payouts Service are set forth in your pricing schedule, which may be updated from time to time upon notice. Whop may deduct applicable fees directly from your Prefunded Account or net them against amounts processed. All fees are non-refundable except as required by applicable law.

13. Compliance

You agree to comply with all Rules applicable to each Payout method you use. You represent that all Payouts are initiated for lawful business purposes and that you have obtained all necessary authorizations required under applicable law prior to initiating any Payout.  You agree to provide Whop or its Financial Institution Partners with documentation and information relating to your use of the Payouts Service upon reasonable request, including records of transactions, recipient authorizations, and business activities.  Such requests may be made to satisfy regulatory obligations, payment network requirements, or other applicable legal requirements.

14. Disclaimers & Liability

The Payouts Service is provided on an "as is" and "as available" basis. Except as expressly set forth in these Payout Terms, all warranties, representations, and conditions with respect to the Payouts Service are disclaimed to the fullest extent permitted by law. Liability with respect to the Payouts Service is governed by the Terms of Service.  You are solely responsible for determining any tax reporting or withholding obligations arising from your use of the Payouts Service. The Payouts Service is not intended to be used to make payments for W-2 or similar employees.