Recurring Transaction Agreement
By creating a recurring investment plan in the Plynk® app you represent that you have read, understand, and agree to the following:
General
Recurring investments for stocks, Exchange Traded Funds (ETFs), and other Exchange Traded Products (ETPs) will be placed as market orders on the planned investment date. Recurring investments in mutual funds will receive the public offering price on the day of the transaction. If the investment date falls on a weekend, holiday, or beyond the end of the month (e.g. 29th, 30th, or 31st), your investment will be skipped and will resume on the next scheduled date. Digital Brokerage Services LLC (DBS) will handle your reoccurring orders under a recurring investment plan on a best effort basis subject to market conditions and business interruptions and will not be responsible for any failure to place an order or obtain an execution on any applicable date or at any specific time.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. As prices for stocks, mutual funds, ETFs and ETPs fluctuate over time, recurring investments require ongoing monitoring by you. Investing in stock involves risks, including the loss of principal.
Market orders may represent a risk as securities prices can change sharply. These orders are entered as fractional share orders, they will be treated as not-held orders, and they are handled in the manner described in the Fractional Share Trading section of the Customer Agreement applicable to your DBS account.
All recurring investments in mutual funds must meet mutual fund eligibility and minimum investment requirements, as described in the applicable fund prospectus.
If the cash buying power needed for your automatic investment is not available, your scheduled purchase will be skipped. If funds are not available and the purchase is skipped, the associated plan will not be canceled. If there is insufficient buying power for three attempts in a row, the recurring investment plan will be disabled.
Editing and cancelling an investment plan
In the Plynk app you may edit a plan before 11:59 pm ET four business days prior to the scheduled investment date. In the Plynk app you may cancel a plan before 11:59 pm ET on the business day prior to the scheduled investment date. No edits or cancellations are allowed on the scheduled investment date.
If funding from your linked bank account:
- To stop the transfer of money from your bank account into your DBS account, you must cancel the plan in the Plynk app at least four business days before the scheduled investment date.
- You may cancel the plan during the three business day period immediately preceding the scheduled investment date, however, during this period only the investment will be canceled – the ACH debit from your bank account will still be processed and the transferred money will be deposited into the core position of your DBS account.
ACH Authorization
If funding from a bank account, by creating a recurring investment plan via the Plynk app, you authorize DBS to initiate recurring ACH transfers to your DBS account at the frequency and for the amount you indicated in your plan by debiting your linked checking or savings account. This authorization for recurring debits will remain in full force and effect until you cancel the associated plan in the Plynk app. To stop the next scheduled ACH transfer, you must cancel the associated plan in the Plynk app at least four business days before the scheduled investment date. You agree that the ACH transactions you authorize comply with all applicable laws. DBS will not be liable for any loss, liability, cost or expense for acting or failing to act upon such plan instructions.
Individual Retirement Accounts (IRA)
A scheduled transfer from your linked bank account will be skipped if the deposit into your IRA will cause the amount of total deposits into your IRA to exceed the maximum annual contribution limit for the current tax year. The associated investment will also be skipped. Inherited IRAs are not eligible for recurring investment plans funded from a linked bank account.
To retain this agreement, save to your mobile device as a picture using the screenshot function.
