1. Eligibility: Member Rewards Checking is a free checking account product provided by LendingClub Bank, National Association (“we,” “us,” and “our”) and FDIC-insured up to the maximum allowed. Member Rewards Checking is available only to individuals who (1) receive directly from us an offer to open a Member Rewards Checking account, (2) have obtained a personal loan through the LendingClub platform (“Personal Loan”) that is current and in good standing, and that has a remaining scheduled term of at least 180 days, as of when they submit a request to open a Member Rewards Checking account, and (3) have not previously opened a Member Rewards Checking account, regardless of the current status of such account (“Eligible Individuals”). Member Rewards Checking is not the same as “Rewards Checking,” which is a separate checking account product provided by us that is available to individuals regardless of whether they have obtained a Personal Loan. We may decline an Eligible Individual’s request to open a Member Rewards Checking account if we become aware of any NSF (non-sufficient funds) items posted to any deposit account held in the name of the Eligible Individual, any failure to pay in full any fees associated with any such account, or any negative history with respect to any such account, or for any other reason we deem appropriate. 

Member Rewards Cash Back Rewards: The Debit Card Rewards Program (“Cash Back Rewards”) provides 1.00% cash-back on all Qualified Purchases using a debit card tied to an Eligible Account.  Eligible Accounts are:  Member Rewards Checking accounts that meet the following requirements for the calendar month in review: (1) Maintain an average monthly balance of at least $1,000.00; or (2) Receives at least $1,000.00 in Qualifying Direct Deposits.

Qualifying Direct Deposits are defined as: Recurring Automated Clearing House (ACH) credits, including payroll, pension or government payments (such as Social Security) made by your employer, or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer to peer payments or ACH transfers (funds transfers) from your external accounts. 

Qualified Purchases are defined as: Signature-based purchases made using the debit card tied to an Eligible Account.  These are “credit” purchases that can be made in stores and online. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and is based on how the transaction is transmitted at the time of processing. Qualified Purchases do not include: (1) any goods or services purchased that are returned or otherwise credited to your Eligible Account; (2) unlawful purchases; or (3) purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Checks, gift cards, cryptocurrency, casino chips, peer to peer payments, prepaid debit cards, account openings, loan payments,  or other cash equivalents).
Any earned Cash Back Rewards will be credited to your account on or before the 10th calendar day of the next calendar month.  The Eligible Account must be open and active at the time the Cash Back Reward is credited.  

LendingClub does not charge a fee to use another bank's ATM for withdrawal, deposits, balance inquiry or transfer of funds. Service fees charged by other banks and ATM owners still apply; however, there will be no charge for use of an ATM in the SUM or MoneyPass ATM network ("In=Network ATMs").

$100 Bonus Offer: By opening a Member Rewards Checking account, you may be eligible to receive a one-time promotional credit of $100 applied toward a Personal Loan (“Loan Bonus”). In order for you to receive the Loan Bonus, the following conditions must be satisfied as of the ninetieth (90th) day after your Member Rewards Checking account opening date (the “Loan Bonus Eligibility Date”): (1) you have at least one Personal Loan with an outstanding balance, (2) no Personal Loans are past due or otherwise not current, and all Personal Loans are otherwise in good standing, (3) your Member Rewards Checking account is open, active, and in good standing, and (4) you have received a total of $1,000 or more from one or more Qualifying Direct Deposits into your Member Rewards Checking account in the calendar month preceding the calendar month in which the Loan Bonus Eligibility Date occurs.

Qualifying Direct Deposits are defined as: Recurring Automated Clearing House (ACH) credits, including payroll, pension or government payments (such as Social Security) made by your employer, or an outside agency. We may require documentation to verify that credits are Qualifying Direct Deposits. Qualifying Direct Deposits do not include peer to peer payments or ACH transfers (funds transfers) from your external accounts. If you satisfy each of these conditions as of the Loan Bonus Eligibility Date, the Loan Bonus will be applied toward the unpaid principal balance (not including interest, fees or other charges) of your most recently obtained Personal Loan that has an outstanding principal balance as of the Loan Bonus Eligibility Date (the “Beneficiary Loan”). The Loan Bonus will typically be posted to the Beneficiary Loan within ten (10) business days following the Loan Bonus Eligibility Date.   

Any account features that enable you to receive direct deposits, or that enable direct deposit funds to be made available to you early, are contingent upon and subject to the payor’s support of such features.