Lump Terms & Conditions
 

1. Nature of the Service and Delivered Product

By creating a "Lump," you authorize Lump Financial Services LTD to collect a single upfront payment, plus applicable non-refundable service fees, to be disbursed back to you in scheduled daily deposits via the Interac e-Transfer network.
 

• Proof of Delivery: For the purpose of transaction disputes, a daily deposit is legally considered a "Delivered Product" the exact moment Lump Financial Services LTD successfully initiates the transfer from our banking system to your authorized email address.
   

• Third-Party Delays and Outages: We guarantee that your daily deposit will be initiated by 8:00 AM ET on your scheduled dates. However, we rely on the Interac e-Transfer network and participating financial institutions to route the funds. Lump Financial Services LTD is not liable for any delays in the receipt of funds caused by third parties. This includes, but is not limited to:

  • Standard fraud-prevention holds by banking institutions (which typically delay first-time transfers by 30 to 60 minutes).

  • Interac network-wide outages or scheduled maintenance.

  • Restrictions or holds placed on your specific bank account.
     

• Unjust Enrichment: Attempting to reverse, dispute, or chargeback the original funding transaction due to standard Interac delivery delays, or while retaining the daily deposits sent to you, constitutes unjust enrichment and is legally classified as fraud.
   

2. Identity Verification (KYC) & Account Restrictions

 

To ensure regulatory compliance and platform security, Lump strictly enforces Know Your Customer (KYC) protocols.
 

• Mandatory Verification: You must complete our secure government ID and biometric verification process prior to funding your first Lump.
   

• Name Match Guarantee: The name on the credit card, debit card, or Pay Later account used to fund your Lump must exactly match the verified name on your government-issued ID. Any mismatched transactions will be immediately voided, and the account may be suspended.
   

• Funding Limits: Lump reserves the right to restrict available funding methods at our sole discretion. For security purposes, new accounts or first-time Lumps may be restricted exclusively to Interac e-Transfer funding.
   

3. Cancellations & Refunds

 

You retain full control over your unspent funds and may cancel an active Lump at any time via your 'My Lump' dashboard. Upon cancellation, the following refund policies strictly apply:
 

• Refundable Amounts: Only the remaining, undelivered principal balance of your Lump will be refunded.
   

• Non-Refundable Fees: The upfront Lump Fee paid at the creation of the Lump is strictly non-refundable. Funds that have already been initiated to your Interac email address cannot be refunded, reversed, or redirected.
   

• Refund Destinations (AML Compliance): To comply with Anti-Money Laundering (AML) regulations and strict payment processor guidelines, all authorized refunds will be credited exclusively to the original payment method used to fund the transaction.
   

• Refund Processing Times: Processing times vary based on the original funding method:

  • Interac e-Transfer: 1 to 3 business days.

  • Credit/Debit Cards: 5 to 10 business days.

  • Pay Later Services: Up to 14 business days.
     

4. Fee Structure
 

• The Lump Fee: Depending on your selected funding method, Lump Financial Services LTD may assess an upfront, percentage-based service fee at the time a Lump is funded (the "Lump Fee"). The exact Lump Fee for your transaction is calculated dynamically based on whether you fund via credit card, debit card, 'pay later' services, or Interac e-Transfer, and will always be clearly disclosed to you at checkout prior to confirming your payment.
   

• Nature of the Lump Fee: You acknowledge and agree that the Lump Fee is assessed strictly for the facilitation, arrangement, and execution of a financial service; specifically, the scheduling, administration, and routing of your daily money transfers.