M1 Plus

Updated July 23, 2021

Thank you for your Enrollment in M1 Plus. By enrolling in this annual membership program, 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.  If you’re eligible for an M1 Spend checking account and Visa® Debit Card, you’ll receive premium features offered to members of M1 Plus, which include earning interest on eligible balances and receiving cash back on eligible purchases using your M1 Spend Visa®  Debit Card.

Membership Date

After successfully enrolling via M1’s website or mobile application and accepting M1 Plus Terms, your effective Membership Date in M1 Plus will be the month and day you click “Confirm Membership”. Membership is for one calendar year and renews on the next Membership Date.

Order Process

Clicking “Confirm Membership” constitutes your annual membership in M1 Plus. Available Benefits start immediately.  M1 Spend account additional benefits will start immediately upon approval to open such account.

Renewal

You agree to automatically renew M1 Plus at the standard rate of $125 on your renewal date. All M1 Plus You agree to automatically renew M1 Plus at the standard rate of $125 on your renewal date. All M1 Plus member accounts are automatically set to auto-renewal at the Membership 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. See below for more information on how to cancel your M1 Plus membership or please contact help@m1.com.

Notification

M1 will notify M1 Plus members of an upcoming membership renewal charge within thirty (30) days of the time the payment will be charged to your account. M1 will provide you with such notice 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. 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 without the prior written approval of M1.

Cancellation

You may request to cancel your M1 Plus Membership within thirty (30) days of your initial M1 Plus Membership payment for a full refund of your Membership Fee. 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.

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​.

Payment

In exchange for providing you with the M1 Plus Membership, you agree to pay M1 the annual 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. In the event that you have a good faith dispute as to the amounts due, you agree to pay the undisputed amounts.

If you accept a free trial of M1 Plus Membership, you agree to add a payment method to the Billing section in M1’s Platform prior to the renewal date of your M1 Plus Membership. Failure to add this payment while auto-renewal is still selected will result in deduction of the annual fee from the cash in your M1 account balance(s) (excluding trust, custodial or retirement accounts) or liquidation of your securities (subject to the below).

Starting July 30, 2021, if you accept the M1 Plus Membership, you agree to select a payment method in the Billing section in M1’s Platform prior to any renewal date of your M1 Plus Membership. Failure to select this payment while auto-renewal is still selected will result in payment from your M1 Spend checking account if available. If you do not have an M1 Spend checking account or there is insufficient cash balance in the account, we will  deduct the annual fee from the cash in your M1 invest account balance(s) (excluding trust, retirement, and custodial accounts). If there is insufficient cash balance in your M1 Invest account to cover the Membership fee we will liquidate your securities for payment. Your securities will be liquidated based on the most over-weight in your portfolio.

You will also have the option to select a credit card method for payment of your M1 Plus membership fee. You may select to change your payment method within the M1 Platform. If you choose to pay the membership fee using a credit card payment, you must provide up to date credit card information by your Membership Date.

M1 will not use your M1 Spend account for payment if the value within the account is less than $125. M1 will also not use your M1 Invest account for payment if the value within the account is less than $500. If no other payment is available on the platform, M1 will immediately remove your M1 Plus Benefits.

Please see M1’s help center page, “How to keep a minimum cash balance in your M1 invest account” for instructions on how to increase the cash balance in your M1 invest account to avoid liquidation of the securities in your portfolio.

M1 will attempt payment on your Membership Date. If the payment is unsuccessful, you will be notified and given thirty (30) calendar days to deposit cash into the account you selected for payment or update your payment method. M1 will attempt a second payment thirty (30) calendar days after the initial attempt. If the second payment attempt fails, you will lose all M1 Plus benefits immediately.

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 due to M1 from your M1 account balance(s) or liquidate securities as stated in M1’s Account Agreement.

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. To qualify for M1 Plus membership, all individuals must be eligible to open an M1 investment account.

There is no guarantee that you will be approved to open an M1 Spend checking account. Account opening of an M1 Spend checking account is subject to Lincoln Savings Bank approval.

M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC and M1 Spend LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. “M1” refers to M1 Holdings Inc., and its affiliates.

All investing involves risk, including the risk of losing the money you invest, and past performance does not guarantee future performance. Borrowing on margin can add to these risks, and you should​ ​learn more​ ​before borrowing. M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors.

Brokerage products and services offered by M1 Finance LLC, an SEC registered broker-dealer and Member​ ​FINRA​ /​ ​SIPC​.

No minimum balance to open account. No minimum balance to obtain APY (annual percentage yield). APY valid from account opening. Fees may reduce earnings. Rates may vary.

M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc.

M1 Spend checking accounts furnished by Lincoln Savings Bank, Member FDIC. M1 Visa® Debit Card is issued by Lincoln Savings Bank, Member FDIC.

© Copyright 2021 M1 Holdings Inc.