Empower AutoSave ACH Authorization

Effective Date: May 6, 2025

You authorize Empower Finance Inc. and its affiliates, assignees, and service providers (“Empower, us, we”) to electronically debit via ACH the account you designated when setting up AutoSave (“External Bank Account”), and electronically credit your Empower Savings Account via ACH, and, if ever applicable, to correct erroneous debits and credits via ACH as follows:

If you selected the Save Per Paycheck option:

Empower uses your External Bank Account information to determine the date(s) on which you will receive your paycheck. Empower will use this information to determine when to initiate a debit to your External Account, and will initiate a debit when we expect you to receive your next paycheck, and each paycheck thereafter, until you revoke this authorization. The amount debited will be the amount you indicated that you wanted to save per paycheck when setting up AutoSave. You understand and agree that the date of each debit may vary and that the notice of when we will initiate your next upcoming debit will be displayed in the Empower app.

If you selected the Weekly Savings option:

When you set up AutoSave, the date we will initiate your first debit will be displayed in the Empower app. Thereafter, and continuing until you revoke this authorization, we will initiate a debit on the first Business Day (defined below) of each subsequent week, excluding Friday. For each debit, Empower will debit up to the amount you indicated as your weekly savings goal when setting up AutoSave. Empower will not debit more than your indicated weekly savings goal for any given debit nor any given week, but may debit less if Empower determines you do not have sufficient funds in your External Account. If your weekly savings goal is not met by a debit, we will attempt to initiate the debit again each following Business Day of that week (excluding Friday) to meet your weekly savings goal for that week. Notwithstanding the foregoing, before we initiate any debit, we may conduct a balance check on your External Bank Account and may skip any debit where we determine that your External Bank Account balance is below our threshold requirements. Due to the nature of the service, you acknowledge and agree that the amount and frequency of these preauthorized electronic debits and credits may vary.

We are not liable for any overdrafts, so if you expect your External Bank Account cannot accommodate your AutoSave selections, then you should change your AutoSave selections or terminate Empower AutoSave. It may take up to three Business Days from the date we initiate a debit for the funds to actually debit from your External Bank Account. If any debit attempt fails, we will pause Empower AutoSave until you log in to the Empower app and unpause it. When you unpause Empower AutoSave it will resume with your original settings under this authorization.

You may stop payment of these preauthorized electronic debits from your External Bank Account by contacting us in-App or emailing us at support@empower.me at least 3 Business Days before the scheduled date of the debit. If you stop these preauthorized electronic debits, we will no longer provide you Empower AutoSave. If we do not receive notice at least 3 Business Days before the scheduled debit date, we may attempt, in our sole discretion, to cancel the debit transaction. However, we assume no responsibility for our failure to do so. Please note that revoking this authorization will not apply to electronic debits performed before revocation becomes effective.

For purposes of this authorization, "Business Day" means Monday through Friday, excluding federal banking holidays.