Tovo Terms of Use

Last Updated: November 13, 2025

  1. Welcome to Tovo!
    These Tovo Terms of Use("Terms") are a legal agreement between you("you," "your," or "user"), as a current or prospective user of the Tovo Services, and Toss Bank(hereafter, "the Company," "we," "our" or us"), and governs your use of Tovo, which includes mobile pages, websites, software, cloud-based solutions, and other products and services (the "Service"), offered by the Company.

    Tovo is a U.S. brand of Toss Bank, a bank organized under the laws of the Republic of Korea. Tovo itself is not a bank and Toss Bank does not hold any licenses in the U.S. Any future deposit products will be offered through one or more U.S. Partner Banks, each Member FDIC (each, a "Partner Bank").

    By accessing our website, mobile application, or related services (collectively, the "Services"), you agree to these Terms and our Privacy Policy. If you do not agree, please do not use the Services.

    Important:
    During the waitlist phase, the Company does not open accounts or accept deposits. ALL FEATURES AND TERMS DESCRIBED HERE ARE FOR INFORMATIONAL PURPOSES ONLY AND ARE SUBJECT TO CHANGE BASED ON FINAL AGREEMENTS WITH PARTNER BANKS AND APPLICABLE LAW.

    THIS TERMS CONTAINS A CLASS ACTION WAIVER. BY ACCEPTING THESE TERMS, YOU EXPRESSLY AGREE TO BE BOUND BY AND ABIDE BY THIS AGREEMENT, INCLUDING THE CLASS ACTION WAIVER PROVISION.
  2. Key Definitions
    Tovo Account – The future integrated checking + savings account product (the "One Account") that may be offered through a partner bank.
    Base APY – The variable annual percentage yield(APY) on eligible balances under the One Account.
    Referral Boost – A promotional +0.10% APY per eligible referral, valid for up to six (6) months per referral, subject to the limits described below.
    Boostable Balance Cap – USD $25,000 in combined One Account balances eligible for the Referral Boost; any balances above USD $25,000 earn the Base APY without any boost.
    On-Demand Interest – Interest that accrues daily and may be claimed in-app, subject to applicable limits and delays.
    Waitlist – Pre-registration to express interest in Tovo products, requiring mobile phone verification.
  3. Eligibility
    You must be at least 18 years old and capable of entering into a binding contract. Access to future banking products may be limited to U.S. residents who satisfy identity verification and Partner Bank eligibility requirements.
  4. Waitlist Participation
    You may join the waitlist by completing mobile phone verification and any additional steps we request. Joining the waitlist does not (i) create a Tovo Account, (ii) guarantee eligibility or access, or (iii) obligate us to offer any product or feature.
  5. Product Overview (Subject to Partner Bank and Regulatory Approval)
    5.1 One Account (Checking and Savings Integrated)
    A simple, all-in-one account experience that applies the same high base APY across both checking and savings with no internal transfers required.

    5.2 APY and Fees
    Base APY: A variable rate initially targeted at 4% APY at launch. No conditions and no fees are required to earn this Base APY.
    Variability: The APY is variable and may change over time in response to market interest rates or updates to Tovo's or its Partner Bank's policy. We'll notify users if any material rate changes occur.
    Zero-Fee Structure: We intend to maintain zero-fee model; no monthly maintenance or minimum-balance fees. Third-party or out-of-network fees (for example, ATM owner fees or mobile-carrier data rates) may still apply.

    5.3 Referral Boost (Promotional)
    Eligibility Restriction: Residents of the State of Washington are not eligible to participate in or receive any benefits from this Referral Boost program, whether as a referrer or as a recipient of a referral. If you reside in Washington, or if your friend resides in Washington, please do not send or accept referral invitations.
    Mechanics: For each eligible referral, you may earn +0.10% APY on your Boostable Balance for up to six (6) months per referral.
    Cap: Up to USD $25,000 in combined balances are eligible for boosted APY; balances above that amount earn the Base APY.
    Maximum Boost: Aggregate boosts are capped, and we reserve the right to adjust such caps, including those referenced in illustrative marketing materials.
    Abuse or Fraud: We may withhold, reverse, or cancel any boost for suspected abuse, fraud, or violation of these Terms.
    Tax Responsibility: Promotional value may be taxable; you are responsible for any applicable taxes.
    Program Changes: We may change, suspend, or discontinue this referral program at any time.
    User Responsibility: By clicking "Share my link", you confirm that you have consent to send a text message inviting your friend(s) to join Tovo's waitlist. Do not send referral messages without obtaining prior consent from the recipient.

    5.4 On-Demand Interest
    Interest accrues daily and may be claimed on demand through the app. Operational or regulatory limits may apply (for example, daily limits, maintenance windows, or posting delays).
  6. Partner Banks and Regulatory Disclosures
    Tovo is not a bank. Banking services for any future Tovo Account will be provided by a U.S. Partner Bank, Member FDIC.

    Features, terms, limits, and eligibility may vary by Partner Bank and are subject to the applicable Partner Bank's account agreement(s) and governing law. Nothing in these Terms constitutes a commitment or an offer to provide any financial product.
  7. Identity Verification and USA PATRIOT Act Notice
    During the current waitlist phase, the Company does not conduct full identity verification or collect government identification numbers. However, by joining the waitlist, you acknowledge and consent that if and when you choose to open a Tovo Account in the future,

    the Company, its service providers, and any Partner Bank may be required by law, including the U.S. USA PATRIOT Act, to verify your identity.

    Such verification may include confirming information you provide, for example your name, date of birth, address, Social Security number, or government-issued ID, and validating it through authorized third-party databases.

    If you later decline or fail to complete this identity verification, you may be unable to open or maintain a Tovo Account or access certain services.
  8. Mobile Phone Verification and Electronic Consent
    Verification: Joining the waitlist requires mobile phone verification.

    SMS Notices: By providing your number, you consent to receive service-related text messages from Tovo. Marketing texts are optional. Message and data rates may apply. You can stop receiving messages at any time by replying "STOP." For support, reply "HELP" or email help@tovo.global. To start receiving messages again, reply "START" or reach out to us at the same email address.

    Communication Preferences: You agree that Tovo may send important notices and other service-related communications by text message (SMS), and, when necessary, by email. Turning off marketing or optional communications will not affect the delivery of essential service messages such as verification codes, security alerts, or legally required notices.
  9. Acceptable Use
    You agree not to violate any law; misrepresent your identity; abuse promotions; use bots or scrapers; interfere with system security; reverse-engineer our Services; or infringe any intellectual-property or privacy rights. We may suspend or terminate access for any prohibited conduct.
  10. Intellectual Property
    All content, software, text, graphics, logos, and other materials in the Services are owned by Toss Bank or its licensors. Except as expressly permitted, you may not copy, modify, distribute, or create derivative works from any portion of the Services.
  11. Updates and Changes
    We may modify these Terms or the Services at any time. For material changes, we will provide notice as required by law. Continuing to use the Services after changes take effect means you accept them.
  12. Launch Timing and Availability
    Tovo's U.S. launch is planned for next year, but timing and scope may change based on business, regulatory, or Partner Bank considerations. We may onboard gradually or decline applicants.
  13. Disclaimers
    THE SERVICES (INCLUDING ANY DESCRIPTIONS OF FUTURE PRODUCTS) ARE PROVIDED "AS IS." WE DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, OR ALWAYS AVAILABLE, OR WILL DELIVER SPECIFIC OUTCOMES.
  14. Indemnification
    You agree to defend, indemnify, and hold harmless the Company, each Partner Bank, and their affiliates, officers, employees, and agents(hereafter, "The Tovo Entities") from any claims, damages, or costs (including reasonable attorneys' fees) arising from your use of the Services or violation of these Terms.
  15. Limitation of Liability
    The Tovo Entities shall not be liable for any direct or indirect damages arising from the use of this Site or reliance on its content.

    IN NO EVENT SHALL THE TOVO ENTITIES BE LIABLE UNDER CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE OR ANY OTHER LEGAL OR EQUITABLE THEORY WITH RESPECT TO THE SERVICES: (I) FOR ANY LOST PROFITS, DATA LOSS, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, COMPENSATORY, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER, SUBSTITUTE GOODS OR SERVICES (HOWEVER ARISING); (II) FOR ANY BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE (REGARDLESS OF THE SOURCE OF ORIGINATION); OR (III) FOR ANY DIRECT DAMAGES IN EXCESS OF (IN THE AGGREGATE) $100.00. APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY OR INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.
  16. Termination and Suspension
    We may suspend or terminate your access to the Services at any time, including for suspected fraud, abuse, or regulatory reasons. If you wish to close or delete your account, please visit the FAQ section for instructions and the direct link to submit an account closure request. If you have any difficulty submitting your request through the FAQ, you can also contact us by email at help@tovo.global, and we will assist you with closing your account.

    Sections that naturally survive termination (such as intellectual property, disclaimers, limitation of liability, and arbitration) will remain in effect even after your account is closed.
  17. Governing Law
    Except as preempted by federal law, these Terms are governed by the laws of the State of New York, without regard to conflict-of-law principles. The Federal Arbitration Act (FAA) governs arbitration and its enforcement.
  18. Class Action Waiver
    PLEASE REVIEW THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS.
    You agree that you will not sue the Tovo Entities as a class plaintiff or class representative, join as a class member, or participate as an adverse party in any way in a class action lawsuit against the Tovo Entities. This does not limit your right to bring an individual claim.
  19. Dispute Resolution and Arbitration
    PLEASE READ CAREFULLY. You and we agree to resolve any dispute arising out of or relating to these Terms or the Services through binding, individual arbitration, rather than in court, except that you may pursue an individual claim in small-claims court if eligible.

    Rules and Forum: Arbitration will be administered by the American Arbitration Association (AAA) under its Consumer Arbitration Rules, as modified by this Section.

    Location and Fees: If an in-person hearing occurs, it will take place in your county of residence (or another mutually agreed location). AAA rules govern fee allocation; we may cover fees if necessary to ensure the process is not cost-prohibitive.

    Class Action Waiver: You and we agree that no class, collective, representative, or mass actions may be brought in court or arbitration. The arbitrator may award relief only to the individual party.

    Severability: If the class-action waiver is found unenforceable for a particular claim, that claim may proceed in court, but all other claims will remain subject to arbitration.
  20. Third-Party Services
    We may rely on third-party providers for verification, messaging, or analytics. Their services are governed by their own terms and privacy policies. We are not responsible for any third-party sites or content.
  21. Privacy
    Please review our Privacy Policy to understand how we collect, use, and share your information. By using the Services, you consent to those practices.
  22. Miscellaneous
    These Terms constitute the entire agreement between you and The Company. We may assign these Terms; you may not assign them without our consent. If any provision is deemed unenforceable, the remaining provisions remain effective. Our failure to enforce any term does not waive our rights. Headings are for convenience only.
  23. Contact Us
    For any questions or support, please email help@tovo.global. This address is the official channel for all one-on-one inquiries, including legal matters, account closure requests, and customer assistance.

    If you have general questions about Tovo or our services, please visit the FAQ section and leave your question there. We review submitted questions and update the FAQ regularly. You can also find our contact email listed in the FAQ for your reference.