M1 Plus Customer Agreement

Updated April 2024

This M1 Plus Customer Agreement (the “Agreement”) sets forth the terms and conditions (“Terms”) for a M1 Spend LLC and M1 Finance LLC (“M1”) customer (“You” or “Your” or “Member”) to enroll in the M1 Plus membership product (“M1 Plus”), as described herein. M1 Spend LLC and M1 Finance LLC are each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. “M1” refers to M1 Holdings Inc., and its affiliates.

Thank you for Your Enrollment in M1 Plus. By enrolling in this paid annual or monthly membership product, You receive benefits across products and services available through the M1 platform. You now have access to additional benefits for M1 Borrow, M1 Invest, and M1 Spend.

Membership Date

After successfully enrolling via M1’s website or mobile application and accepting this Agreement, Your effective membership date in M1 Plus will be the month and day You click “Confirm Membership”(hereinafter “Membership Date”). Membership is available for either one (1) calendar month increment(s) or one (1) calendar year increment(s) (each a “Billing Option”) and automatically renews each subsequent monthly increment or calendar year increment from the Membership Date (each a “Renewal Date”), depending on which Billing Option You choose (each a “Membership Fee”). All new M1 Plus memberships with a Membership Date of May 23, 2023 or later, Your membership Billing Option will be defaulted to the one-month increment. See Renewal section below for more details.

Order Process

Clicking “Confirm Membership” constitutes acceptance of this Agreement and purchase of Your membership of M1 Plus. Available benefits start immediately. Access to certain additional M1 Plus benefits can be obtained by enrolling in certain products with M1.


You agree to automatically renew M1 Plus at the Billing Option chosen by You on Your Renewal Date. All M1 Plus memberships are automatically set to auto-renewal at the Renewal Date. You must click “Turn off auto-renewal” inside the M1 platform’s Billing section to cancel the automatic renewal of Your M1 Plus membership. You can turn off auto-renewal at any time. See below for more information on how to cancel Your M1 Plus membership or please contact help@m1.com.


M1 will notify M1 Plus members of an upcoming membership renewal charge prior to when the payment will be charged to Your account. M1 will provide You with such notice either by email, M1 platform announcement, push notification, or traditional mail. You agree that receipt of M1 communication by any one of those methods is sufficient notice. Notwithstanding anything herein, we do not provide You with prior notice of any amendments to the Membership that are beneficial to You, nor do we provide You prior notice of termination of this Agreement for any reason. You agree that, by continuing to participate in the Membership, You will be deemed to have agreed to and accepted the revised Membership Terms.

Acknowledgements; Non-Transferable

Your M1 Plus Membership, Benefits, or Reservation are not transferable or assignable to another party.

Agreement Changes

Notwithstanding any changes made by M1 to the Billing Option and/or Payment herein, we may in our discretion change these Terms, or any aspect of M1 Plus membership (e.g. any M1 Plus benefits), or terminate the M1 Plus membership program and this Agreement, without notice to you. If any change to these Terms is found invalid, void, or for any reason unenforceable, that change is severable and does not affect the validity and enforceability of any remaining changes or conditions. YOUR CONTINUED PLUS MEMBERSHIP AFTER WE CHANGE THESE TERMS CONSTITUTES YOUR ACCEPTANCE OF THE CHANGES. IF YOU DO NOT AGREE TO ANY CHANGES, YOU MUST CANCEL YOUR MEMBERSHIP.


To cancel your annual M1 Plus Membership:

You may request to cancel Your annual M1 Plus Membership within thirty (30) business days of Your initial M1 Plus Membership payment for a full refund of Your Membership Fee. Any requests received after thirty (30) business days will not be refunded.

To cancel your monthly M1 Plus Membership:

You may request to cancel your monthly M1 Plus Membership within three (3) business days of Your initial M1 Plus Membership payment for a full refund of Your Membership Fee. Any requests received after three (3) business days will not be refunded.

You understand that if You choose to cancel Your M1 Plus Membership (either annual or monthly) at any time for any reason, M1 Plus benefits added to products and services offered through the M1 platform will be removed upon receipt of Your cancellation request. To request cancellation, contact M1 by email at help@m1.com or call us at: (312) 600-2883.

Your Details

From time to time, we will ask You to provide information so that we can perform our obligations under these terms and conditions. We will maintain Your personal information in accordance with our Privacy Policy.


In exchange for providing You with the M1 Plus Membership, You agree to pay M1 the Membership Fee, as well as any applicable transaction, multi-currency and chargeback fees, and incorporated herein by this reference. We reserve the right to revise our fees at any time, subject to a thirty (30) day notice period to You prior to the new fees taking effect.

You agree to the following payment methods at the end of your M1 Plus Membership trial and at the time of your M1 Plus Membership renewal:

When no payment account is specified:

  • An open M1 Savings account or M1 Cash Accounts will be defaulted as source of payment. The account with the highest cash balance between the two open account types will be defaulted;
  • If a user only has an open M1 Savings Account, it will be defaulted as source of payment;
  • If the user only has an open M1 Cash Account, it will be defaulted as source of payment;
  • If a user has a M1 Savings and M1 Cash account with insufficient funds or does not have an M1 Savings account but has a taxable M1 Invest account with sufficient cash balance(s) (excluding Trust, Retirement, and Custodial accounts), M1 will charge the M1 Invest account without selling securities.

When a payment account is specified:

  • The user has selected their taxable M1 Invest account as their payment option, securities could be sold if the account does not have a sufficient cash balance of $3 a month or $36 a year, depending on which billing cycle You’ve chosen. Your securities will be liquidated based on the most over-weight in your portfolio; or
  • The user has selected their M1 Savings account as their preferred method, M1 will charge that account until the M1 Savings account has been closed.
  • The user has selected their M1 Cash Account as their preferred method, M1 will charge the account until the M1 Cash Account has been closed.

If you have multiple eligible M1 Invest Accounts, the actual M1 Invest Account being charged on renewal day may vary depending on the total account value at the time of charge.

M1 will attempt payment on your Renewal Date. M1 will not use Your M1 Savings or Cash accounts for payment if the value within the account is less than $36. M1 will also not use Your taxable M1 Invest account for payment if the value within the account is less than $36.

If Your specified payment fails, M1 will make a second attempt to bill another M1 account, including an available Savings account, Cash Account, Individual Brokerage Account, or Joint Brokerage Account. An open M1 Savings or Cash Account will be first if it is available, depending on which account has the highest cash balance. If no other payment is available on the platform, M1 will immediately remove Your M1 Plus Membership.

You are liable for all claims, expenses, fines and liability we incur arising out of:

  • A chargeback, refund, over-payment, payment error, or other invalid payment You cause(collectively “Invalidated Payment”)
  • Any error, negligence, misconduct or fraud by You or someone acting on Your behalf; and
  • Any losses resulting from your failure to comply with the terms of this Agreement.

In the event of an Invalidated Payment or other liability, we may deduct amounts from Your M1 account balance(s) or liquidate securities as stated in M1’s Account Agreement.

M1 High-Yield Cash Account – Joint Accounts

FOR JOINT CASH ACCOUNTS: In addition to other benefits, when available for participation, Your (i) enrollment in M1 Plus and (ii) opening and activating a joint M1 High-Yield Cash Account will confer a higher annual percentage yield than non-M1 Plus members with a Cash Account. In the event You have satisfied the foregoing conditions, the higher annual percentage yield M1 Plus benefit shall apply to the joint Cash Account in entirety, even if the additional joint account participant is not an M1 Plus member. However, any such non-M1 Plus joint account participant is prohibited from gaining any other, or additional, M1 Plus benefit(s) notwithstanding such joint account unless they enroll in the M1 Plus membership.

Additional Important Information

In the event M1 suspects Prohibited Conduct, M1 reserves the right, with or without notice to the Member, (a) to delay or suspend all activity and (b) to audit or investigate any account.

There is no guarantee that You will be approved to open an account with M1.

* Rates are not guaranteed and are subject to change. Not all applicants qualify for the lowest available rate.

© Copyright 2024 M1 Holdings Inc.