Cash Advance

Create Cash Advance

1. Display Cash Advance terms

2. Create the Repayment Node

   1. Synapse Deposit Node

   2. Linked account

3. Create the Disbursement Node

   1. Synapse Deposit Node

   2. Linked account

4. Display the Promise to Repay Disclosure

   1. Required Language: “The bank services are provided by Synapse's partner banks, Members FDIC. By accepting the terms of this account on <Insert Platform Name>, you agree to <Platform>'s Promise to Pay Agreement.”

   2. Display the agreement PDF

5. Display the Cash Advance Details:

   1. Amount

   2. Repayment Account

   3. Disbursement Account

   4. Repayment Date

6. Collect Affirmative Consent from the user

7. Create REPAY-US node

Notes:

• Platforms can charge a fee for cash advance

• Platforms cannot charge APR for Cash Advance

• Cash Advance products are heavily scrutinized by regulators