Last Updated: [DATE]
Welcome to Rainy Day. These Terms of Service ("Terms") are a legally binding agreement between you and Rainy Day LLC ("Rainy Day," "we," "us," or "our"), a [YOUR STATE] limited liability company. These Terms govern your access to and use of the Rainy Day mobile application (the "App") and all related services (collectively, the "Services").
BY CREATING AN ACCOUNT, LINKING A BANK ACCOUNT, OR USING THE SERVICES IN ANY WAY, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREE TO BE BOUND BY THESE TERMS IN THEIR ENTIRETY. IF YOU DO NOT AGREE, DO NOT USE THE SERVICES.
PLEASE READ THESE TERMS CAREFULLY. THEY CONTAIN:
Rainy Day is a community mutual aid platform that enables groups of individuals ("Communities") to pool funds, manage shared treasuries, and govern disbursements collectively. Our Services include:
Rainy Day is a technology platform that provides tools for Communities to self-govern their pooled funds. Rainy Day facilitates the movement of money between users and Community pools using third-party financial service providers. Rainy Day does not make financial decisions on behalf of any Community.
Rainy Day is not a bank, credit union, money transmitter, financial advisor, investment company, insurance provider, or financial institution of any kind. Rainy Day does not hold, custody, or directly control any user funds. Rainy Day does not provide financial, legal, or tax advice. All financial decisions within a Community are made solely by the Community's members, Leaders, and Treasurers.
Rainy Day uses the following third-party financial service providers to facilitate the movement of funds. By using the Services, you acknowledge and agree that your funds are processed and held by these third parties, not by Rainy Day.
When you link a bank account in the App, you connect through Plaid Inc., a financial technology company. Plaid securely accesses your bank account information (account number, routing number, account holder identity) using its encrypted connection to your bank. Rainy Day never sees or stores your bank login credentials. Plaid provides Rainy Day with a secure token that represents your bank account for future transactions.
Your use of Plaid is subject to Plaid's End User Privacy Policy. You may review or revoke Plaid's access at any time through Plaid Portal.
All payments — including dues, gifts, disbursements, payouts, and refunds — are processed by Dwolla, Inc. through the Automated Clearing House ("ACH") network, the same electronic network used by banks for direct deposits and bill payments.
How an ACH transfer works:
1. You initiate a payment (e.g., paying dues) in the App
2. Rainy Day sends a transfer request to Dwolla
3. Dwolla instructs its banking partner to initiate an ACH debit from your linked bank account
4. Funds move through the ACH network (operated by the Federal Reserve and The Clearing House) to the Community's custodial account
5. The transfer typically takes 1–4 business days to complete
For disbursements and refunds, the process works in reverse: funds move from the Community's custodial account through the ACH network to the recipient's linked bank account.
Your use of Dwolla's services is subject to Dwolla's Terms of Service and Dwolla's Privacy Policy. By using the payment features of the Services, you agree to Dwolla's terms.
Community pooled funds are held in For Benefit Of (FBO) custodial accounts at Dwolla's partner banking institutions (which may include Evolve Bank & Trust, Veridian Credit Union, or other FDIC-insured institutions). Rainy Day does not hold, custody, or have direct access to Community funds. Dwolla and its banking partners are responsible for the safekeeping of funds in accordance with applicable banking regulations.
While Dwolla's banking partners are FDIC-insured institutions, the availability and extent of FDIC pass-through insurance for funds held in FBO custodial accounts depends on the specific banking partner and account structure. Rainy Day does not guarantee FDIC insurance coverage for pooled Community funds. You should not treat Community fund contributions as insured deposits.
To use the Services, you must:
By creating an account, you represent and warrant that you meet all eligibility requirements.
You must create an account to use the Services. You agree to provide accurate, current, and complete information during registration, including your legal name, date of birth, email address, and phone number.
To comply with federal regulations, including the Bank Secrecy Act ("BSA") and anti-money laundering ("AML") laws, we and our payment partners may require identity verification. This may include your full legal name, date of birth, Social Security Number (last four digits or full), and physical address. This information is transmitted securely to Dwolla for verification and is not stored by Rainy Day beyond what is necessary for account management.
You are responsible for maintaining the confidentiality of your account credentials. You agree to notify us immediately of any unauthorized access to your account. We are not liable for losses arising from unauthorized use of your account, except where prohibited by law.
Each individual may maintain only one Rainy Day account. Duplicate accounts may be terminated.
When you link a bank account through the App, you connect via Plaid Inc. By linking your bank account, you grant Plaid permission to access your financial account information, including account and routing numbers, account balances, and account holder identity, solely for the purpose of facilitating transactions through the Services.
You are solely responsible for ensuring that the bank account you link is owned by you, is in good standing, and has sufficient funds to cover any transactions you initiate. Linking a bank account that you do not own or are not authorized to use is a violation of these Terms and may constitute fraud.
You may disconnect your linked bank account at any time through the App or through Plaid Portal (https://my.plaid.com). Disconnecting your bank account will prevent you from making or receiving payments through the Services.
Rainy Day charges a platform fee of between one hundredth of one percent (0.01%) and three percent (3.00%) on all funds transferred into Community pooled accounts (including dues payments and gifts). The applicable fee rate and dollar amount will be displayed to you before you confirm any transaction. This fee is deducted at the time of the transaction and is non-refundable.
Platform fees collected by Rainy Day are used to cover the costs of operating, maintaining, and improving the Services, including but not limited to:
Additionally, at the sole discretion of Rainy Day management, a portion of platform fee revenue may be allocated to support local communities and community groups. Rainy Day reserves the right to determine the recipients and amounts of any such allocations without obligation to disclose specific recipients or amounts.
We may adjust the platform fee rate within the 0.01%–3.00% range at any time. We will notify you of fee changes at least thirty (30) days in advance. Changes to the fee rate outside this range will require your affirmative consent.
Rainy Day does not charge account creation fees, monthly subscription fees, or withdrawal fees. However, your bank or financial institution may charge its own fees for ACH transactions, insufficient funds, or returned items. Additionally, Dwolla may charge fees in accordance with its Terms of Service. You are solely responsible for any such third-party fees.
By initiating a payment through the Services (including dues payments, gifts, and any other contribution), you expressly authorize Rainy Day LLC and its payment processor, Dwolla, Inc., to initiate an Automated Clearing House (ACH) electronic debit from your linked bank account in the amount you specify, plus any applicable platform fee. You understand that this authorization remains in effect until you revoke it by removing your linked bank account from the App or deleting your account.
By receiving a disbursement, payout, refund, or any other distribution of funds through the Services, you expressly authorize Rainy Day LLC and its payment processor, Dwolla, Inc., to initiate an Automated Clearing House (ACH) electronic credit to your linked bank account in the specified amount.
If your Community has recurring dues, you authorize each individual payment at the time you initiate it through the App. Rainy Day does not automatically debit your account for recurring dues. Each dues payment requires your affirmative action (tapping "Pay Dues" and confirming the amount).
If an ACH transfer fails or is returned (e.g., due to insufficient funds, incorrect account information, or a closed account), you are responsible for any resulting fees, penalties, or shortfalls. Dwolla or its banking partners may retry failed ACH debits in accordance with NACHA Operating Rules. Repeated failed transfers may result in suspension of your payment privileges.
You may revoke your ACH authorization at any time by removing your linked bank account from the App. Revocation does not affect transactions already in progress or previously completed.
In accordance with the Electronic Signatures in Global and National Commerce Act (E-SIGN Act, 15 U.S.C. § 7001 et seq.), you consent to conduct transactions and receive all disclosures, notices, and communications electronically. This includes:
To receive electronic communications, you need a device with internet access, the Rainy Day mobile app or a current web browser, and a valid email address.
You may withdraw your consent to electronic communications by contacting support@joinrainyday.com. However, withdrawing consent will result in termination of your account, as electronic communication is required to use the Services.
Communities on Rainy Day are entirely self-governed by their members. Rainy Day is solely a technology platform and service by which community building, fund pooling, and collective governance are made possible. Rainy Day does not create, operate, manage, or administer any Community. The members, Leaders, and Treasurers of each Community make all decisions about membership, dues, disbursements, fund allocation, and governance. Rainy Day does not participate in, influence, approve, deny, or override any Community governance decision.
Each Community has a leadership structure established by its creator and maintained by its Leaders. Designated roles include:
The specific permissions, approval thresholds, and governance rules for each role are described in the App and may be configured by Community Leaders at their sole discretion. The leadership structure and administration of each Community is entirely at the discretion of that Community's Leaders. Rainy Day has no role in and bears no responsibility for how any Community is led, administered, or governed.
By joining a Community, you acknowledge and accept:
By paying dues or making a gift to a Community, you further acknowledge and accept:
When you contribute funds to a Community (through dues payments or gifts), those funds are transferred to the Community's pooled custodial account. Once contributed, funds are part of the Community pool and are subject to the Community's governance processes. You understand and agree that:
You may leave any Community at any time through the App. If you are dissatisfied with how a Community is governed, how funds are being used, or for any other reason, you have the right to leave. Upon leaving:
We strongly encourage you to evaluate a Community's leadership, rules, and mission before contributing funds. If you do not agree with how a Community operates, leave before contributing further.
When a Community is disbanded (which requires unanimous approval from all Leaders and Treasurers):
Community Leaders and Treasurers act on behalf of their Community, not as agents or employees of Rainy Day. Rainy Day does not assume fiduciary duties with respect to Community funds. Rainy Day is not responsible for the decisions made by Community Leaders, Treasurers, or Members regarding the use, disbursement, or governance of pooled funds.
Rainy Day does not guarantee that Community members will pay their dues or contribute funds. Dues status and payment history are tracked in the App, but enforcement of contribution obligations is the sole responsibility of each Community and its leadership.
Disputes between Community members regarding fund usage, governance decisions, disbursements, or membership are matters between the members of that Community. Rainy Day does not mediate, arbitrate, or resolve intra-Community disputes. If you believe a Community Leader or Treasurer has engaged in fraud or misappropriation, you should report it to support@joinrainyday.com and to appropriate law enforcement authorities.
Rainy Day maintains records of all transactions within each Community. These records are available to Community members through the App and reflect the status of each transaction (pending, processing, completed, returned, failed). Transaction records are retained for a minimum of seven (7) years in accordance with federal financial recordkeeping requirements.
If you believe an unauthorized transaction has been made from your account, you must notify us within sixty (60) days of the transaction by contacting support@joinrainyday.com. Failure to report within this timeframe may limit your ability to recover funds and may result in you bearing full liability for the unauthorized transaction.
In compliance with the Electronic Fund Transfer Act (Regulation E, 12 CFR Part 1005), we will investigate reported errors within ten (10) business days of receiving your notice. If we need additional time, we may take up to forty-five (45) days to complete the investigation, during which we may provide provisional credit to your account. We will notify you of the results of our investigation within three (3) business days of completion.
Your liability for unauthorized electronic fund transfers is determined in accordance with Regulation E and Dwolla's Terms of Service:
You agree not to use the Services to:
We reserve the right to suspend or terminate accounts engaged in prohibited activities, freeze associated Community funds, and report suspected illegal activity to law enforcement and financial regulators.
The App, including its design, code, features, logos, trademarks, and content, is owned by Rainy Day LLC and protected by copyright, trademark, and other intellectual property laws. You may not copy, modify, distribute, sell, or reverse-engineer any part of the App without our prior written consent.
By submitting content to the Services (including messages, disbursement descriptions, event details, and profile information), you grant Rainy Day a non-exclusive, royalty-free, worldwide license to use, display, and store such content solely for the purpose of providing the Services. You retain ownership of your content.
Payment processing is provided by Dwolla, Inc. Your use of Dwolla's services is subject to Dwolla's Terms of Service and Privacy Policy. Rainy Day is not liable for any acts, omissions, errors, delays, or failures of Dwolla or its banking partners, including but not limited to failed transfers, delayed processing, frozen funds, or account closures.
Bank account connectivity is provided by Plaid Inc. Your use of Plaid is subject to Plaid's terms and privacy policy. Rainy Day is not liable for any acts, omissions, errors, or failures of Plaid, including but not limited to bank connection failures, incorrect account data, or service outages.
Funds are held at FDIC-insured banking institutions partnered with Dwolla. Rainy Day is not a party to the banking relationship and is not liable for the acts, omissions, or failures of any banking partner.
ACH transfers are processed through the Automated Clearing House network, which is operated by the Federal Reserve and The Clearing House. Rainy Day is not liable for ACH network delays, outages, or errors.
The App is distributed through the Apple App Store and Google Play Store. Apple and Google are not responsible for the App or its content. Your use of the App is also subject to the applicable app store terms.
BY USING THE SERVICES, YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT YOU ARE USING THE SERVICES AT YOUR OWN RISK. You understand that:
YOU VOLUNTARILY ASSUME ALL OF THE ABOVE RISKS AND ANY OTHER RISKS ASSOCIATED WITH USING THE SERVICES.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU RELEASE AND DISCHARGE RAINY DAY LLC, ITS MEMBERS, MANAGERS, OFFICERS, EMPLOYEES, AGENTS, AND AFFILIATES FROM ANY AND ALL CLAIMS, DAMAGES, LOSSES, LIABILITIES, COSTS, AND EXPENSES (INCLUDING ATTORNEYS' FEES) ARISING FROM OR RELATED TO:
THIS RELEASE DOES NOT APPLY TO CLAIMS ARISING FROM RAINY DAY'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.
If you are dissatisfied with a Community, its leadership, or how funds are being managed:
THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.
We do not guarantee that the Services will be uninterrupted, error-free, secure, or free of viruses or other harmful components. We are not liable for any losses resulting from service outages, ACH network delays, banking partner issues, Dwolla/Plaid downtime, or any other technical failures.
Nothing in the Services constitutes financial, investment, legal, or tax advice. You should consult qualified professionals before making financial decisions.
TO THE MAXIMUM EXTENT PERMITTED BY LAW, RAINY DAY LLC'S TOTAL AGGREGATE LIABILITY FOR ALL CLAIMS ARISING FROM OR RELATED TO YOUR USE OF THE SERVICES SHALL NOT EXCEED THE LESSER OF: (A) THE TOTAL AMOUNT OF PLATFORM FEES YOU HAVE PAID TO RAINY DAY IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM, OR (B) ONE HUNDRED DOLLARS ($100).
IN NO EVENT SHALL RAINY DAY LLC BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, LOSS OF DATA, LOSS OF GOODWILL, LOSS OF CONTRIBUTED FUNDS, OR ANY OTHER INTANGIBLE LOSSES, ARISING FROM YOUR USE OF OR INABILITY TO USE THE SERVICES, REGARDLESS OF WHETHER WE HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
Rainy Day is not liable for the decisions of Community Leaders, Treasurers, or Members, including but not limited to decisions to approve or deny disbursements, admit or remove members, set dues amounts, allocate funds to causes, or disband a Community. Each Community is self-governed, and Rainy Day bears no responsibility for the outcomes of Community governance.
You agree to indemnify, defend, and hold harmless Rainy Day LLC, its members, managers, officers, employees, agents, and affiliates from and against any and all claims, damages, losses, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from or related to:
Before initiating formal dispute resolution, you agree to contact us at support@joinrainyday.com and attempt to resolve the dispute informally for at least thirty (30) days.
If informal resolution is unsuccessful, any dispute, claim, or controversy arising from or relating to these Terms, the Services, or your relationship with Rainy Day shall be resolved by final and binding arbitration administered by the American Arbitration Association ("AAA") under its Consumer Arbitration Rules. Arbitration shall take place in [YOUR STATE], or at another mutually agreed location. The arbitrator's decision shall be final and binding and may be entered as a judgment in any court of competent jurisdiction.
YOU AGREE THAT ANY DISPUTE RESOLUTION PROCEEDINGS WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS AND NOT IN A CLASS, CONSOLIDATED, OR REPRESENTATIVE ACTION. YOU EXPRESSLY WAIVE YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT, CLASS-WIDE ARBITRATION, OR ANY OTHER REPRESENTATIVE PROCEEDING.
Notwithstanding the above, either party may bring an individual action in small claims court for disputes within the court's jurisdictional limits.
You may opt out of this arbitration agreement by sending written notice to support@joinrainyday.com within thirty (30) days of creating your account. Your notice must include your full legal name, account email address, and a clear statement that you wish to opt out of the arbitration agreement.
You may delete your account at any time through the App. Upon account deletion:
We may suspend or terminate your account at any time for violation of these Terms, suspected fraudulent activity, legal or regulatory requirements, or to protect the safety and integrity of the Services. We will provide notice of termination when practicable.
Upon account termination (whether voluntary or involuntary), your contributed funds remain in the applicable Community pools. If you wish to receive a return of funds, you must request it through the Community's governance process before deleting your account.
We may update these Terms from time to time. We will notify you of material changes via email or in-app notification at least thirty (30) days before the changes take effect. Your continued use of the Services after the effective date constitutes acceptance of the updated Terms. If you do not agree to the updated Terms, you must stop using the Services and delete your account.
These Terms are governed by and construed in accordance with the laws of the State of [YOUR STATE], without regard to conflict of law principles.
These Terms, together with our Privacy Policy, Dwolla's Terms of Service, and Plaid's End User Privacy Policy, constitute the entire agreement between you and Rainy Day LLC regarding the Services.
If any provision of these Terms is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect.
Our failure to enforce any provision of these Terms at any time shall not constitute a waiver of that provision or any other provision.
You may not assign or transfer your rights or obligations under these Terms without our prior written consent. Rainy Day LLC may assign its rights and obligations without restriction, including in connection with a merger, acquisition, or sale of assets.
Rainy Day shall not be liable for any failure or delay in performing its obligations under these Terms due to causes beyond its reasonable control, including but not limited to natural disasters, pandemics, acts of government, banking system failures, ACH network outages, internet or telecommunications failures, or actions of Dwolla, Plaid, or any banking partner.
If you have questions about these Terms, contact us at:
Rainy Day LLC
Email: support@joinrainyday.com
Website: https://joinrainyday.com
For legal inquiries: legal@joinrainyday.com