Outlet terms of service. Before signing up for Outlet you need to accept these terms of service.
1. Outlet is not an actual bank. Outlet is a banking alternative, in the sense that we allow you to safely and securely store USD within an account.
2. The balance shown in your account is very accurate, but may vary from exactly what you see when you withdraw from Outlet back to your bank account.
3. By agreeing to these terms you understand that Outlet does not directly control your assets, and is not responsible for your assets. We simply guide you funds to different businesses that enable your funds to have a high rate of return.
4. You must upload valid IDs and your actual information during the signup and KYC process. This is very important for tax related purposes, if you misreport these documents we will be forced to close your account.
5. The balance shown in your account is very accurate, but may vary from exactly what you see when you withdraw from Outlet back to your bank account.
6. You understand that Outlet interest rates are variable. Our interest rate depends on the supply and demand of the different money markets (Lending protocols) that we use.
7. By accepting these terms of service you agree that Outlet can send you text, email, and other forms of communication such as push notifications.
8. Outlet uses dai. Dai is an experimental technology on the Ethereum blockchain. It is a decentralized stable coin pegged to the USD. I understand that my accounts balance will slightly vary on withdraw due to dai losing its peg from $1
If you would like further explanation on our product or what's going on at Outlet you can reach out to us here and we will gladly answer any questions you have.