Disclosures
Regulatory and product disclosures applicable to your use of AgentRail.
Contents
- 01 — Banking and FDIC
- 02 — Money transmission
- 03 — Sanctions and screening
- 04 — Reg E and Reg DD
- 05 — Beneficial ownership
This is a draft version. The legally binding agreement is provided at sign-up and may differ. Contact legal@agentrail.com for the current canonical document.
01
Banking and FDIC
AgentRail is a financial technology company, not a bank. Wallet accounts and banking services are provided by AgentRail's sponsor bank partners. Deposits held in Wallet accounts are eligible for pass-through FDIC insurance, subject to standard pass-through conditions and aggregation rules. FDIC insurance covers the failure of an insured depository institution; it does not cover the failure of AgentRail or any non-bank entity.
02
Money transmission
Money transmission and payment processing services are provided by AgentRail's licensed money transmitter partners, or by AgentRail under licenses held in the jurisdictions where such activity occurs. State-by-state licensing information is available on request.
03
Sanctions and screening
AgentRail screens transactions and counterparties against OFAC, EU, UN, and other applicable sanctions lists. Transactions flagged by screening will be held and reviewed in accordance with applicable regulations. AgentRail may decline to process any transaction at its discretion.
04
Reg E and Reg DD
Where applicable, Regulation E and Regulation DD disclosures will be provided at account opening and in periodic statements. For consumer disputes, see the Disputes process.
05
Beneficial ownership
AgentRail collects beneficial ownership information from business customers in accordance with FinCEN's Customer Due Diligence (CDD) rule. This information is verified and monitored over the life of the relationship.