Terms & Conditions

Here you’ll find access to all of our agreements & policies. If you’d like to view or download these agreements, as well as your monthly statements and tax documents, please visit the Documents & Agreements section in the app’s menu.


User Agreement

Learn about Elevault's terms & conditions and your rights as one of our valued users.

E-Sign Agreement

As a 100% mobile bank, we rely on electronic signatures and communication.

Privacy Policy

Learn how we collect, share, use, and protect your personal information.

User Agreement


Any dispute or controversy arising out of or relating to this Agreement, or any document or instrument delivered in connection herewith shall be resolved by arbitration to be held in Little Rock, Arkansas in accordance with the commercial arbitration rules then in effect of the American Arbitration Association or its successor. The arbitrator may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator shall be final, conclusive, and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction, and the parties irrevocably consent to the jurisdiction of the state courts of Arkansas for this purpose. The prevailing party in such arbitration shall be entitled to recover from the other party the prevailing party’s reasonable costs and expenses incurred in connection with such arbitration proceeding (including reasonable attorneys’ fees) to the extent such award is determined by the arbitrator to be appropriate, fair, and equitable in the circumstances. However, the obligation to arbitrate shall not apply with respect to requests for temporary restraining orders, preliminary injunctions, or other procedures in a court of competent jurisdiction to obtain interim relief to the extent necessary to preserve the status quo or to prevent irreparable injury pending resolution by arbitration of the actual dispute between the parties.


Terms and Conditions

This agreement (“Agreement”), as amended from time to time, is provided by Southern Bancorp Bank (“Southern”) to govern your use of any of our TeamWALT Apps and their associated web services, collectively the (“Apps”).  By accepting this Agreement and using the Apps, you agree to accept all the terms and conditions herein. We recommend you keep a copy for your records and substitute any later updated versions of this Agreement when you receive them.

This Agreement covers each of Southern’s TeamWALT financial products.  It does not cover classic branch banking products or services offered by Southern without the “TeamWALT” label.  By accepting the Agreement, you understand it is binding upon you, your heirs, personal representatives, and successors.

A Profile on the App represents a single, identifiable person.  You agree that access to that Profile (using your private credentials) will not be shared by you with another person and that if you do so, Southern is not liable for any misuse, mistakes, or transactions made as a result.

A Portfolio on the App represents the financial information for a Profile. This includes but is not limited to Vaults and VaultKeys. You agree that access to that Portfolio information will not be shared by you with another person and that if you do so, Southern is not liable for any misuse, mistakes, or transactions made as a result.

The Apps covered by the Agreement are different than classic banking products and accounts. They are designed to be extremely simple and straightforward and managed almost completely by you. You should be aware that this means some traditional payment methods and other classic banking processes (e.g., paper checks and overdrafts) may be discouraged or prohibited (see the Your Profile and Portfolio section.)

We reserve the right to change the Apps and may withdraw or modify them at any time within the bounds of applicable regulations and laws.

If you have questions, please call our customer helpline at: 1-(844) HEY-WALT.

TeamWALT Apps Listing:

  • Elevault
  • Envie
  • MOD


Communicating with Us

To contact us, please use one of the following methods:

  1. Secure messaging under the bell icon.
  2. Call us at: 1-844-HEY- WALT (24x7x365)
  3. Email us at [email protected]. Note: Do NOT use regular email like this to communicate any account or confidential information. Regular email is inherently unsecure and can be easily intercepted by identity thieves. At no time should you include personal or confidential information in an unencrypted email.
  4. Address: Southern Bancorp Bank, Attn: TeamWALT, 400 Hardin Rd, Suite 100, Little Rock, AR 72212


⚠️ Warning: As part of our commitment to keeping your money and personal information safe and secure, we will never ask you for personal login, Profile, or Portfolio information through unsolicited email. Be careful not to provide personal information, such as your legacy account numbers, card number, PIN, passwords, or Social Security number to people claiming to represent TeamWALT or Southern.

If you receive an unsolicited call claiming to be from TeamWALT or Southern requesting account or other personal information, do not respond. Instead, discontinue and use one of our secure methods of communication.


Communicating with You

Electronic notifications: Please refer to the electronic and e-signature consent form.

Mobile Devices: You agree that we, our agents, or our service providers may contact you regarding any matter for any non-telemarketing reason using any kind of telecommunications technology at any email and telephone number you provide to us, including the phone number for your mobile device. You agree to receive these calls and messages, including pre-recorded or auto-dialed calls. You also agree that we may send text messages to any phone number for your mobile device you provide to us. You understand and accept that your service provider may charge you for these calls and messages consistent with applicable law.

Recording Telephone Calls and Electronic Communication: For quality control purposes and for other reasons, you permit us to record and monitor your telephone conversations and electronic communications with us. Unless the law requires otherwise, you consent in advance to such recording and monitoring, and we do not need to remind you of these activities at the time of the call or communication.


Your Profile and Portfolio

Who is Eligible
To be eligible to use the Apps, you must be a United States resident who is 18 or older and must be able to satisfy our identification verification requirements.


Account Ownership

Profiles and Portfolios in any TeamWALT app are designed for and owned by individuals over the age of 18 only and will remain non transferrable.


Service Charges

We do not charge a fee for normal Services related to your Profile or Portfolio.  However, external banks or third-parties may charge you fees over which we have no control.


Downloading the App

Simply use a web link provided to you by a TeamWALT associate or for fully released Apps, you can find and download them in the Apple App StoreTM or Google Play StoreTM.


Accept Agreement

During the enrollment process, you will be asked several identifying questions and be required to scan an approved ID. Then, you will be required to accept this agreement to continue the enroll process.  Once accepted, you will select your log-in credentials and finalize the enrollment process by linking a traditional bank account to your Profile.

Once fully enrolled, you will have a usable Portfolio into which you can deposit funds, spend money, and manage your savings.   Your Portfolio represents your identity to TeamWALT and your deposited and borrowed funds – all in one place.  You can create Vaults to store funds safely away for Savings, but the money remains in your Portfolio, and you will continue to earn interest on it (as described in the Truth in Savings below.)



To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means to you: When you enroll, we will ask for your name, address, date of birth, social security number, and other information that will allow us to verify your identity. You will also be required to scan your valid, unexpired driver’s license or other government-issued identification documentation and link an external bank account you already have.

It is your responsibility to maintain and update changes promptly in the identifying information you provided to us in and after your enrollment. You may update your information directly in the application.

We currently require you to scan the barcode of your valid, unexpired United States driver’s license or state Identification card to enroll. In addition, we will check to see that the information you entered upon sign-up, matches the information contained on your driver’s license or state issued id. We require that you validate you have at least one banking account at another institution.


Change of Address, Email Address or Telephone

In order for us to notify you of any changes to our Terms and Conditions, Privacy Policy, statements, and tax documentation, you must promptly log into the App and change your address, phone or email address should you change them or move. Account statements and other important Account documents will be deemed delivered to you when you are notified via e-mail that they are available. 



At the end of each calendar month, we will notify you that your statement is ready via email.  The information in the Portfolio statements will be sufficient to allow you to reasonably identify the items paid. You must examine the statement and notify us via secure messaging in the app. Any error in the statement within sixty (60) days after the statement is made available to you. Your ability to recover any losses may be limited if you fail to notify us in accordance with applicable law.  See section: “Electronic Fund Transfer Disclosure & Terms” for additional information on reporting and resolving errors involving Electronic Fund Transfers.


Funding & Availability

Currently, funding takes place initially by linking an account from a classic bank to your new Profile.  Subject to “Funds Availability,” once your Portfolio is complete you can immediately fund your Portfolio. We reserve the right to close any accounts that are not funded within 60 days of creating a profile.  


Funds Availability: We provide you with timely access to your funds that you deposit in your Portfolio in accordance with the Expedited Funds Availability Act (“EFA”).  Please note that it will not be possible to make a deposit of cash into your Portfolio.


Maximum daily funding from a linked account is $2,500 per day.


Current Balance: The balance in your Portfolio reflecting all posted deposits and withdrawals.  This is the balance on which interest is calculated.


Available Balance:

The balance in your Portfolio which is currently available for withdrawal. This balance is the Current Balance temporarily adjusted for deposited funds that have been placed on hold (see Deposit Hold Policy) and other pending withdrawals we have authorized or been advised are inbound (i.e. a pending merchant payment). 

All deposits or credits to your Portfolio may be withdrawn by you only after we have received payment for the item (final payment). We may charge back to your Portfolio the amount of any credit given to you for an item which is returned to us as unpaid. If any item deposited to your Portfolio is returned to us, any interest earned on the item from the date the item was deposited to your Portfolio to the date the item was returned to us may be charged back to your Portfolio. We will not be liable to you for any late payment or failure to pay the item except as set forth in this Agreement.

  • Check deposits and withdrawals: We do not accept check deposits or withdrawals.
  • Cash deposits: We do not accept cash deposits.

Deposit Hold Policy

Our policy is to make funds from your deposits available to you as soon as we reasonably can. That means, in some cases, funds will be available immediately upon our receiving your deposit. Electronic and ACH deposits will be available to you the same day we receive the funds (typically the effective date of the ACH). In other cases, we may need to review the deposit and delay the funds’ availability. In such a case, funds may not be available until up to the 7th business day following the deposit. For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, and federal holidays.

We have the right to hold Linked Account ACH Deposits completed in the App.

We will notify you via email if we delay your ability to withdraw funds for any other reason and we will tell you when the funds will be available. They will generally be available to you no later than the 7th business day after the day of your deposit, but many times sooner.



Minimum Opening Balance

There is no minimum opening balance for your Portfolio.  However, be aware that for security reasons, incomplete and unfunded Profiles are eligible to be deleted at any time.



Keeping your Accounts Active

If you have not made a deposit to or withdrawal from your Portfolio for 730 days and we have not received any communication from you (See Communicating with Us) during that time, we may consider your Portfolio dormant. We are required by law to deliver to the applicable state agency any funds in a Portfolio if you do not initiate a transaction (deposit or withdrawal) for a period of time as defined by applicable state law. We will provide applicable notices to you, only as required by law. You agree that we are not liable for any funds delivered to the state in compliance with the laws of the applicable state agency.



Death or Incapacity

We may accept, pay, and collect on transactions after you die or if a court finds you unable to handle your affairs (you are “adjudicated incapacitated”) until we know of your death or receive a court order of your incapacity and have a reasonable opportunity to act. Even if we have knowledge of your death, we may, for 10 calendar days after the date of death, pay items originated before your death. We will not pay such items, however, if we receive a stop payment from your legal representative or other persons who can demonstrate having a legal interest in your Portfolio.



Payable on Death

Upon receipt of a death certificate, we will handle as the estate instructs us to do so in a reasonable time frame.



Compliance with the Law

You agree to comply with all applicable federal and state laws and to not use your Profile or Portfolio for any illegal transactions or activities.




The interest rate and annual percentage yield for deposited funds are determined by the current bank prime interest rate as published by the Board of Governors of the Federal Reserve System of the United States (“Prime”).  The Bank Prime Rate is published daily in the H.15 rates. We review that rate daily and once published, we will apply it to your Portfolio for future interest. 

For deposits, we pay Prime minus 3.50% and review that rate daily for changes.  Interest is compounded and paid daily to your Portfolio for deposited funds on qualifying Vaults for the portion of your daily balance that is less than or equal to $50,000.  We do this by calculating your current balance at the end of a business day (as measured by Universal Coordinate time/UTC), multiply the portion of your balance that is less than or equal to $50,000 by the current applicable rate, and dividing that by 365 or 366 (the number of days in the current year).  For any fractions of a penny (out to 6 decimal places) we will hold that accrued fractional interest for you until you have at least a penny accrued.  For any amounts equal to or over 1 cent (including previous days’ fractional accrued interest), we will pay those directly to your Portfolio daily. 

You can find our current interest rate and Annual Percentage Yield (APY) at elevault.app/legal. We recommend you save a copy of the Elevault Agreement and current interest rate and APY for your records.

The monthly statement includes the portion of your balance that is non-interest bearing, which will include Vaults and Apps that do not qualify for interest.

  • Elevault: Interest-Bearing Vaults include Spending, Saving, Expense, and Emergency.
  • Envie (Envelope Challenge): Non-Interest Bearing

In the event that you close your Portfolio before interest is credited, you will not receive the accrued interest.


Tax Reporting and Backup Withholding

At the time you open your Profile, you will provide us with a social security number (SSN), which you certify as correct under penalty of perjury. In accordance with prevailing law, we will use that number to report any interest earned on your Portfolio to the Internal Revenue Service (IRS). If you fail to provide us with a SSN, you do not provide the correct SSN, or you fail to certify the SSN, you may be subject to back-up withholding if the IRS notifies us that the furnished SSN is incorrect, you are notified by the IRS that you are subject to back-up withholding for failing to report all interest and dividend payments on your tax return, or your failed to certify to us that you are not subject to back-up withholding, we are required to withhold and pay to the IRS a percentage of any payment of interest on your Portfolio. If we do back-up withhold and later you are no longer subject to back-up withholding, you may have to contact the IRS to obtain a refund of the money withheld.


Deposit Insurance Coverage

The FDIC insures individual deposits at Southern according to the ownership category (i.e., individual, or joint) in which the funds are insured. Deposits are insured by the FDIC up to the standard maximum deposit insurance amount per depositor, per FDIC-insured bank, and per ownership category. For purposes of determining how much insurance is applicable to your Portfolio, you need to consider accounts at Southern other than TeamWALT branded Portfolios.  To determine how much insurance is applicable to your Portfolio with us and for any other FDIC insurance requirements that may apply, please visit the FDIC’s website at www.fdic.gov/deposits/deposits or call the FDIC directly at 1-877-ASKFDIC (1-877-275-3342). You can also use the FDIC Electronic Deposit Insurance Estimator (EDIE) at www.fdic.gov/edie.


Legal Matters

Legal Action

Any attachment, garnishment, or levy against your Portfolio is subject to our right of set-off and security interest. If we receive an attachment, garnishment, or levy against you, we may refuse to allow you to make any withdrawals or transfer funds until the attachment, garnishment, or levy is satisfied. We may pay the amount demanded to the sheriff, tax authority, or court without notifying you. We will, at our discretion and to the extent required by law, notify you. We are not liable to you for our actions even if our holding or paying the money leaves insufficient funds to cover outstanding items presented for payment. You are responsible for any expenses we incur as a result of an attachment, garnishment, or levy and we may off-set such expenses from your Portfolio.

If you ever owe us money, we can, to the extent allowed by law and without notice to you, use the money from your Portfolio to pay the debt (set-off).  We can do this no matter what kind of debt it is or how the debt arose. In addition to our right of set-off, you grant us a consensual security interest in your Portfolio.  Your opening of a Portfolio with us will be considered to be your consent to set-off against your Portfolio if any present or future law or regulation requires such consent. We will not be liable for any items which are not paid, including interest earned and or available funds within, because we set-off or otherwise use funds from your Portfolio to pay a debt or obligation you owe us. We may use your Portfolio to pay the debt or obligation even if it results in an interest penalty or return of subsequent items.

If Federal benefits or other payments (such as Social Security benefits) are deposited to your Portfolio after you are not eligible for such benefits, we may set-off against your Portfolio to recover any funds we are obligated to return to the payor because of your ineligibility. You agree that we are not required to contest any Legal Process.



Closing or Restricting Profile and Portfolio

We reserve the right to terminate, limit or suspend your access and/or use of any TeamWALT Service at any time and for any reason. We reserve the right to immediately close your Profile and Portfolio and associated features at any time without notice and without your consent at any time and for any reason, unless prohibited by applicable law.  If your Portfolio has any funds in it when we close it, we will return the funds to you minus any applicable penalty by ACH Transfer or by mailing you a check.  We may refuse to pay any debits or other items presented for payment after your Portfolio is closed. Except as may be limited by applicable law, you agree to hold us harmless from and against any losses arising from, or in any way relating to, our refusal to pay or release funds in accordance with this section. We may hold funds for Linked Account ACH Deposits while your access is suspended and have the right to request return of these items.


Electronic Funds Transfer Disclosure & Terms

Disclosure and Terms

EFT disclosure information that applies to all electronic services offered by Southern in the Apps is given below, followed by specific disclosure information for each service. Southern may also provide remittance transfers (defined by Regulation E, subpart B, as an “electronic transfer of funds of more than $15 which is requested by a sender and sent to a designated recipient in a foreign country by a remittance transfer provider”). As applicable and to the extent not in conflict with such separately provided disclosures, the terms and conditions herein shall apply to remittance transfers that also meet the definition of an “electronic fund transfer” under Regulation E, subpart A. If you have arranged to have direct deposits made to your account at least once every 60 days from the same person or company, we will let you know if the deposit is made. You can call us at  1-844-439-9258 to find out whether or not the deposit has been made. This Agreement takes the place of all prior agreements and disclosures governing the use of all electronic services. By retaining, using, or allowing others to use the electronic services offered by Southern, you are agreeing to be bound by the terms and conditions of this Agreement. In this Agreement, the term (‘‘you”) and (‘‘your(s)”) refer to the member, and the terms (‘‘we”), (‘‘us”), and (“our(s)”) refer to Southern.


We will disclose information to third parties about your Profile and Portfolio or the transfers you make:

  1. Where it is necessary for completing transfers;
  2. In order to verify the existence and condition of your Profile and Portfolio for a third party, such as a credit bureau or merchant;
  3. In order to comply with government agency or court orders;
  4. If you give email or other written permission;
  5. To one of our non-profit affiliates; or
  6. As explained in the Privacy Policy.


Liability for Unauthorized Transfers from your Account

Notify us immediately if you believe your Elevault Card and/or Personal Identification Number (PIN) has been lost or stolen, or you believe that an electronic transfer has been made without your permission using information from your Profile and Portfolio. Messaging via secure message in your mobile app is the best way of keeping your possible losses down. If you tell us within two (2) business days, you can lose no more than $50 if someone used your Debit Card or PIN without your permission. If you do not tell us within two (2) business days after you learn of the loss or theft of your Debit Card or PIN, and we can prove that we could have stopped someone from using your Debit Card or PIN without your permission if you had told us. Also, if your statement shows transfers that you did not make, tell us at once. If you do not tell us within 60 days after the statement was delivered to you, you may not get back any money you lost after the sixty (60) days if we can prove that we could have stopped someone from taking the money if you had told us in time.  If you have authorized someone else to use the Debit Card and/or PIN, you are responsible for all transactions that person or persons initiates at any time, even if the amount or transactions exceed what you may have authorized.



Liability for Failure to Complete

If we do not complete a transaction to or from your Portfolio on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will NOT be liable, for instance, if:

  1. through no fault of ours, you do not have enough money in your Portfolio to make the transaction;
  2. circumstances beyond our control (such as fire, flood, power failure, or computer down time) prevented the transaction, despite reasonable precautions that we have taken;
  3. the money in your Portfolio is subject to an uncollected funds hold, legal process or any other encumbrance or agreement restricting a transaction;
  4. the failure to complete the transaction is done to protect the integrity of the system or to protect the security of your Portfolio.

There may be other exceptions not specifically mentioned above.



Error Resolution or Questions regarding Electronic Funds Transfers

Notify us using the “Communicating with Us” section above, if you think your statement or receipt is wrong or if you need more information about a transfer listed on the statement or receipt. You should notify us if you believe a transfer has been made using information from your Portfolio without your permission. We must hear from you no later than sixty (60) days after we sent the FIRST statement on which the problem or error appeared.

  1. Tell us your name and SSN.
  2. Describe the error or the transfer you are unsure about, and explain as clearly as you can, why you believe it is an error or why you need more information.
  3. Tell us the dollar amount of the suspected error.

We require that you send us your complaint or question in writing within ten (10) business days.

We will tell you the results, in writing, of our investigation within ten (10) business days after we hear from you and will correct any error promptly. If we need more time, however, we may take up to forty-five (45) days to investigate your complaint or question. If we decide to do this, we will credit your Portfolio within ten (10) business days for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation.

If we decide that there was no error, we will send you a written explanation within three (3) business days after we finish our investigation. You may ask for copies of the documents that we used in our investigation.

* If you assert an error within thirty (30) days after you make the first deposit to your Portfolio, we will have twenty (20) business days instead of ten (10) business days.

** If you give notice of an error within thirty (30) days after you make the first deposit to your Portfolio or notice of an error involving a transaction initiated outside the U.S. its possessions and territories, we will have ninety (90) days instead of forty-five (45) days to investigate.



Disputes and Resolutions

If we believe that there is a dispute among the users of a shared product, we may, in our sole discretion, place a hold on the funds in the product pending resolution of the dispute to our satisfaction. We may, instead, permit users to continue to use the funds or we may transfer the balance to a court for a court order determining who is authorized to claim the funds from the balance. We will not be liable for taking any of these actions. You must reimburse us for all expenses and costs we incur, including reasonable attorneys’ fees. We may deduct any of our losses, costs, or expenses from your Portfolio without giving you notice.

If a person other than you makes a claim to your funds, we may choose not to act on that claim until we receive a court order. We may, however, act on the claim if the person agrees in writing to pay us for any losses, damages, costs, and expenses we incur (this is called indemnification). We are not liable if we pay a payment or if a withdrawal is drawn on your Portfolio, even if we act after we receive notice of the claim.



Corrections and Errors

We may adjust your Portfolio in our sole discretion to correct computation, transaction recording, or other errors. We will not be liable for errors, mistakes, or negligence by other banks that process any items. We will not be liable if the item is lost in transit or there is a delay in payment of the item.

If, for any reason, we credit your Portfolio in error or for an amount in excess of the amount to which you are entitled, you agree to immediately pay us the amount of the credit or excess amount. We may deduct the amount of the credit or excess amount from your Portfolio without notice to you. We may also use any other legal remedy to recover the credit or excess amount.



Stopping Payments

You can activate or deactivate VaultKeys (classic account number and cards) at will. A deactivation will automatically stop any withdrawal or deposit from occurring via the legacy number and an incoming item will be returned automatically.  In doing so, you agree to reimburse us for all costs and expenses we incur, including our attorneys’ fees, because of our refusal to pay or accept the incoming item.



Waiver of Jury Trial


You and we acknowledge and agree that any controversy, claim, or dispute arising out of or relating to the subject matter of these Terms or to the Services, including, without limitation, federal and state statutory claims, common law claims, and those based in contract, tort, fraud, misrepresentation, or any other legal theory, shall be finally resolved, on an individual basis, through binding arbitration.  Any arbitration shall be conducted (i) confidentially, (ii) in English, (iii) by the American Arbitration Association and Meditation (AAA), (iv) before a single arbitrator with substantial experience in resolving commercial contract disputes, and (v) in accordance with the AAA Comprehensive Dispute Resolution Rules and Procedures, available at www.adr.org.

Judgment upon the award rendered by such arbitrator may be entered in any court of competent jurisdiction. Notwithstanding the foregoing obligation to arbitrate disputes, each party shall have the right to pursue injunctive or other equitable relief at any time, from any court of competent jurisdiction.

Any dispute over the arbitrability of these Terms and/or the arbitrability of any dispute shall be resolved in arbitration in accordance with this provision. 

You agree that you are electing to have any and all claims and disputes between you and the Company resolved by binding arbitration and are giving up any rights to go to court, except as expressly provided herein.  YOU ACKNOWLEDGE AND AGREE YOU AND THE COMPANY ARE EACH WAIVING ANY RIGHT TO A TRIAL BY JURY.

To the extent that any controversy, claim, or dispute is not resolved by binding arbitration, you and the Company agree that any judicial proceeding will be brought in the state or federal courts located in Arkansas.


Additional Disclosures

Choice of Governing Law

This Agreement is subject to applicable federal laws and, to the extent that state law applies, the laws of the state of Arkansas and other applicable rules without regard to conflicts of law principles (except to the extent that this Agreement can and does vary such laws).



Duty of Care and Limitation on Liability

Our responsibility is limited to our exercise of reasonable and ordinary care. We use automated systems to process items and other transactions. You agree that if these systems are consistent with general banking practice, our use of them constitutes ordinary care and we may not be liable to you for forgeries or alterations, or other errors not detected by these systems. We may rely only on information that is encoded on items even if this information is different from other information on the item. We will not be liable to you or any other person for any loss caused by an event that is beyond our control, such as fire, natural disasters, war, national emergencies, riots, strikes, computer failure, or loss of power, communication, or transportation facilities. In no event will we be liable for any indirect, special, or consequential damages of any kind or punitive damage even if we were advised that such damages were possible. This limitation on our liability will apply regardless of the form of any suit or action; for example, regardless of whether the claim is based on contract or tort (negligence).




U.S. Patriot Act Notice

Important information about procedures for opening a new profile and portfolio: To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a profile and portfolio. What this means for you: when you open a profile, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. The information provided will be securely stored and retained in accordance with applicable federal laws.




We may change the terms and conditions of this Agreement from time to time by e-mailing notice to your e-mail address as it appears in our records. If any change results in greater cost or liability to you or decreases access to your profiles or portfolio, you will be given at least thirty (30) days prior notice of the change. Prior notice may not be given where an immediate change in terms or conditions is necessary to maintain the integrity of the system and/or the security of payment cards, your Profile, or your Portfolio. Except as stated otherwise in the Agreement, this Agreement does not alter or amend any of the terms or conditions of any other agreement you may have with TeamWALT or Southern Bancorp Bank. If you are unwilling to agree to such amendments, you have the right to close your Profile and Portfolio prior to the changes taking effect. Your continued use of the Profile and Portfolio after the effective date of the changes constitutes your agreement to the amendment.



Waiver of Terms

We may waive enforcing any of the terms of this Agreement on any occasion. Any waiver will not affect our right to enforce any terms with respect to other customers or on other occasions with you. Any waiver will not modify this Agreement.

If any part of this Agreement should be held to be unenforceable, the remaining provisions of this Agreement shall remain in full force and effect.


State Disclosures

In addition to reporting complaints about Elevault directly to us as described above, you may also report complaints to the following addresses for the following states if you are a resident:

  • California: California Department of Business Oversight by mail at Department of Business Oversight, Attn: Consumer Services, 1515 K Street, Suite 200, Sacramento, CA 95814 or online through it’s website at http://www.dbo.ca.gov/Consumers/consumer_services.asp. The California Department of Business Oversight offers assistance with its complaint form by phone at 866-275-2677. If you are a California resident, you have a right to receive communications about your Elevault profile and your Portfolio and the Elevault services by email. To make such a request, send us a secure message request via the app.
  • Florida: Florida Department of Financial Services in writing at 200 East Gaines Street, Tallahassee, Florida, 32399, or by telephone at 1-877-693-5236.


End User Data

Elevault uses Plaid Technologies, Inc. (“Plaid”) to gather End User’s data from financial institutions. By using our service, you grant Elevault and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Notice.

E-Sign Agreement

Consent for Electronic Signatures and Communications

⚡️ Powered by Southern Bancorp Bank

You will be asked to acknowledge your acceptance of this Consent by checking the box before you are able to continue with your application. In doing so, you are providing your affirmative consent to use electronic Communications and allow electronic signatures. By checking the box, you are also confirming that you have demonstrated your ability to receive, retain, and view electronic documents on your access device, and that you have a current email address.

This Consent to Electronic Communications and Electronic Signatures (“Consent”) contains important information about your legal rights. Please read it thoroughly and save a copy. As used in this Consent, “Profile” means your personal record with us. “Portfolio” means all financial information you have with us, including Vaults and VaultKeys. The words “we,” “us” and “our” refer to TeamWALT and its affiliates, and the words “I,” “you” and “your” refer to the owner of the Profile and Portfolio. We must provide you with certain communications and disclosures in writing (i.e., you have a right to receive such communications on paper) pursuant to applicable laws and regulations. This information may be provided to you electronically if you agree to this Consent. We also need your general consent to use electronic signatures throughout our relationship with you. Because our Profiles and Portfolios are provided online and use electronic means to deliver information, you must review and agree to this Consent to obtain and use a Profile and Portfolio.


By agreeing to this Consent, you agree that we may use electronic delivery including delivery through our website or application on which you access your Profile and Portfolio (together, the “Services”), delivery by email or delivery by other electronic means—of agreements, disclosures, notices and other information and communications regarding your Profile and Portfolio, the use of our Services, our relationship with you; and such other products, services or programs that may be made available to you (collectively, the “Communications”). By agreeing to this Consent, you also agree that we may use electronic signatures and obtain them from you as part of our transactions with you.


Types of electronic communications

  • Amendments to this consent
  • Updates to User agreement
  • Updates to Privacy policy
  • Updates to disclosures
  • Monthly statements
  • Additional disclosures or notices regarding fees
  • Tax statements or notices, such as annual IRS interest statements
  • Any additional information


Access to records
You should save any communications you receive by downloading or printing, these will also be made available in your Profile. You may request, at no charge, paper copies by emailing [email protected].


Change of Address, Email Address or Telephone
You must promptly log into the App and change your address, phone or email address should you move or change them. We have no liability to you if you fail to keep current your mailing address, email address, or telephone number in the App.  Portfolio statements and other important Profile and Portfolio documents will be deemed delivered to you when you are notified via e-mail that they are available. 


Acknowledgement of consent
You acknowledge and agree that this Consent is being provided in connection with a transaction affecting interstate commerce that is subject to the federal Electronic Signatures in Global and National Commerce Act (the “ESIGN Act”), and that you and we both intend that the ESIGN Act apply to the fullest extent possible to validate our ability to conduct business with you by electronic means. This Consent does not apply to any Communication that we determine, in our sole discretion, we are required to deliver in paper form under applicable law or you should receive in paper rather than electronic form. We reserve the right, in our sole discretion, to discontinue electronic Communications with you, or to terminate or change the terms and conditions on which we provide electronic Communications. We will provide you with notice of any such termination or change as required by law.


Withdraw of Consent
You may withdraw consent by emailing us at [email protected]. If you withdraw this Consent: (i) we may immediately suspend or terminate any Profile and Portfolio you have with us; (ii) you will remain responsible for any amounts that you owe us or may come due under any such Profile or Portfolio; and (iii) any other obligations, you have under any agreements governing such Profile and Portfolio will remain in full force and effect. Withdrawal will not affect any Communications we provided to you prior to your withdrawal, and we will send any required further Communications to you in paper form. We will not impose any fee in connection with any withdrawal of this Consent or any Communication provided in paper form. Any withdrawal of this Consent will be effective only after we have a reasonable period of time to process your withdrawal request.


Your Personal Privacy Policy

Revision Date: August 2022


What does Southern Bancorp Bank do with your personal information?


Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.


The types of personal information we collect and share depend on the product or service you have with us. This information can include:

  • Social Security Number and other pertinent personal information
  • Portfolio balances and transaction or loss history
  • Payment history
  • Account transactions
  • Income


All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons affiliates choose to share; and whether you can limit this sharing.
Reasons We Can Share Your Personal InformationDoes Southern Bancorp Bank Share?Can You Limit This Sharing?
For our everyday business purposes – such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus



For our marketing purposes – to offer our products and services to you



For joint marketing with other financial companies



For our affiliates’ everyday business purposes – information about your transactions, experiences, and creditworthiness


We don’t share

For our affiliates’ marketing purposes – to offer their products and services to you


We don’t share

For nonaffiliates to market to you – to offer their products and services to you


We don’t share

Questions?Call 1-844-439-9258 or email [email protected]
Who We Are
Who is providing this notice?Southern Bancorp Bank (“Southern”)
What We Do
How does Southern protect my personal information?To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We also maintain other physical, electronic, and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.
How does Southern collect my personal information?

We collect your personal information, for example, when you:

·         Open an account or Deposit money

·         Pay your bills

·         Give us your contact information or show your driver’s license

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only:

·         Sharing for affiliates’ everyday business purposes

·         Sharing for affiliates to market to you

·         Sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

AffiliatesSouthern Bancorp Bank does not share with our affiliates.
NonaffiliatesSouthern Bancorp Bank does not share with non-affiliates so they can market to you.
Joint MarketingSouthern Bancorp Bank doesn’t jointly market.
Other Important Information

Rights Under State Law: You may have privacy rights under various state laws. We will comply with these laws to the extent they apply.

FOR VERMONT (consumer account with a Vermont address): We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, credit report or health information to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us to make those disclosures.

FOR NEVADA (consumer account with a Nevada address): We are providing you this notice pursuant to state law. Nevada law requires that we provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Ave., Suite 3900, Las Vegas, NV 89101; phone number – 702-486-3132; email: [email protected].

Electronic Messages
You acknowledge that data, including emails, may be accessed by unauthorized third parties when communicated between you and the Bank, using the Internet, telephone, or other electronic devices. We are not responsible for any misdirected data or disclosures that occur as a result of your use of third-party electronic communication channels.