Last updated October 1, 2024
These Terms and Conditions ("Agreement") govern the money movement, timing, payout, and fees associated with contributions made to athletes ("Athletes") through the mobile application ("App") provided by Fan inc. ("Company"). By using the App and accepting these terms, Athletes acknowledge and agree to be bound by the following provisions:
Athletes understand and acknowledge that the App enables them to monitor and track contributions made to them in real time. Payouts of settled contributions shall be transferred directly to the Athlete's digital wallet as soon as the contributions are settled. Settlement typically takes around 3 business days but may take longer depending on various factors. If the Athlete does not have an active digital wallet, the funds will remain in the Company’s Moov wallet until the Athlete converts to a digital wallet.
Athletes shall receive their payouts directly to the digital wallet provided during the registration process. It is the sole responsibility of the Athlete to ensure that the provided wallet details are accurate, complete, and up to date. Fan inc. shall not be held liable for any delays or issues arising from inaccurate or outdated wallet information provided by the Athlete.
When an Athlete chooses to transfer funds from their digital wallet to their linked bank account, the following options and fees will apply:
All transfers, whether instant or standard, are subject to review. This review process may result in delays or, in certain cases, funds being frozen or removed from the Athlete’s Fan inc. account. Please review Fan inc.’s External Account Transfer Information page for more information.
Fan inc. is committed to maintaining the security and integrity of transactions made through the App. Athletes should be aware that fraudulent transactions, although rare, may occur. These transactions may initially appear as regular contributions but can be later determined to be fraudulent by Fan inc.'s fraud detection systems or other security measures. In the event that a transaction is suspected to be fraudulent, Fan inc. reserves the right to investigate the transaction thoroughly, including cooperating with law enforcement agencies, if necessary. Athletes are encouraged to promptly report any suspicious activity or transactions within their accounts. If a contribution is determined to be fraudulent after it has been included in an Athlete's payout, Fan inc. retains the right to reverse the transaction and deduct the fraudulent amount from the Athlete's future payouts. Athletes shall cooperate with Fan inc. during any investigation related to fraudulent transactions. Fan inc. will notify Athletes if any of their transactions are suspected or confirmed to be fraudulent, and Athletes should be aware that the resolution of fraudulent transactions may take some time. Athletes are responsible for safeguarding their App login credentials, wallet information, and any other sensitive data related to their Athlete account to prevent unauthorized access and potential fraud.
Fan inc. reserves the right to modify the payout schedule, transfer fees, or any other aspect of the Agreement at its sole discretion, upon providing prior notice to the Athletes. Athletes shall be duly notified of any such changes through the App or via email. Fan inc. shall make reasonable efforts to process payouts and transfers accurately and in a timely manner. However, Athletes acknowledge that immediate availability of funds cannot be guaranteed due to potential delays in payment processing by financial institutions.
These Terms and Conditions constitute the entire agreement between Athletes and Fan inc. regarding athlete money movement timing, payout, and fees, superseding any prior agreements or understandings, whether written or oral. Athletes are advised to review these terms periodically, as they may be subject to updates or amendments. Failure to comply with these terms may result in the termination of the Athlete's access to the App and the suspension of payout services.
