Legal

PART A: GREY PAYCHECK

1. About these terms
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1.1        These terms explain what Grey Paycheck (“Paycheck”) is, who can use it, how you get and keep Paycheck Status, and the Benefits that come with it. Please read them before you turn on Paycheck.

1.2       These terms are between you and Grey Inc., whose registered office is at 651 N Broad Street, Suite 206, Middletown, Delaware 19709, United States (“Grey”, “we”, “us”). They form part of, and must be read with, Grey’s Terms of Service and Privacy Policy.

1.3       If there is a conflict on a matter relating to a Benefit, the following apply in this order: (a) the section of Part B for that Benefit; (b) Part A of these terms; and (c) Grey’s Terms of Service.

1.4       Paycheck is free. You do not need to buy anything, pay a fee, make a deposit, keep a minimum  balance, subscribe to anything or refer anyone to use Paycheck or to be included in any Reward. Grey does not charge a fee, or change the price of any Grey product, because you use Paycheck.

2. Definitions

2.1 In these terms:

• Benefit: a Fixed Benefit or a Reward described in Part B.
• Business Day: a day other than a Saturday, a Sunday or a public holiday in Grey’s place of business.
• Eligible Customer: has the meaning given in section 4.
• Eligible Territory: means a country listed at [link to list of countries] 
• Fixed Benefit: a feature available to you for as long as you have Paycheck Status, as described in section 16.
• Grey Account: a personal Grey USD, GBP or EUR account held in your own name.
• Paycheck Home: the Paycheck area of the Grey app.
• Paycheck Status: the status described in section 7.
• Prize and Prize Cap: have the meanings given in section 15
• Prize Selection: means the random selection described in section 15.
• Qualification Window: the 30 days starting on the day you turn on Paycheck.
• Qualifying Salary Payment: has the meaning given in section 6.
• Reward: a benefit awarded to selected Eligible Customers, as described in sections 17 to 19.
• Selection Date: the day on which Grey selects customers for a Reward.

3. What Paycheck is
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3.1        Paycheck is a feature of your Grey Account. It is not a separate account and does not change how your money is held or protected.

3.2        When Grey recognises a Qualifying Salary Payment into your Grey Account, you get Paycheck Status. Paycheck Status gives you access to the Benefits in Part B, subject to the rules for each Benefit.

4. Who can use Paycheck
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4.1      You are an “Eligible Customer” if:

• you are an individual aged 18 or over;
• you hold an active Grey Account in your own name that is in good standing, meaning it is not closed, frozen, restricted, suspended or under review;
• you live in an Eligible Territory;
• you have completed Grey’s identity verification checks; and
• Grey does not know or suspect that you or your Grey Account are connected to fraud, money laundering, sanctions evasion or any other illegal or suspicious activity, and you have not seriously or repeatedly breached your Grey account terms.

4.2        Paycheck is not available for Grey business accounts.

4.3        Additional eligibility rules apply to Rewards. These are set out in section 13.

4.4        You must give Grey accurate and complete information. You are responsible for making sure that the laws that apply to you allow you to use Paycheck and take part in Rewards.

5. How Grey recognises your salary
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5.1        The first time, you may need to tag a payment as your salary in the Grey app. After that, Grey will automatically check payments into your Grey Account to identify Qualifying Salary Payments.

5.2        If you already receive your salary into Grey, you can tag a past salary payment in the app. Grey will then look for a matching payment in later months.

5.3        You can also choose to send your Grey account details to your employer from the app. Grey will not contact your employer, and it is up to you whether your employer pays into your Grey Account.

5.4        Grey will tell you in the app when it recognises a Qualifying Salary Payment and you get Paycheck Status.

6.  Qualifying Salary Payments
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6.1       A “Qualifying Salary Payment” is a payment that meets all of these conditions:

• it is salary or wages paid to you by your employer or its payroll provider;
• it is received into your Grey Account by bank transfer using BACS, ACH or SEPA; and
• it is not an excluded payment under section 6.3.
• the amount credited to your Grey Account is between USD 300 and USD 20,000 in a single payment, or the equivalent in GBP or EUR;

6.2        Payments made by any other method do not count, even if they are salary. This includes card payments, peer-to-peer transfers, Faster Payments (FPS) and Fedwire.

6.3       The following do not count, whether Grey identifies them at the time or later:

• payments from you, from an account you own or control, or from a business you own, control or direct;
• payments from family members, friends or other individuals;
• transfers between Grey accounts or from other Grey customers;
• transfers from crypto exchanges, digital wallets, payment apps and money-transfer services;
• gifts, loans, refunds, reimbursements, rebates, chargebacks, benefits, tax refunds, insurance payouts, investment returns, and prize or betting payouts;
• payments that are later returned, reversed, recalled or disputed; and
• payments that Grey reasonably believes were arranged to obtain Paycheck Status or a Reward rather than genuinely earned.

6.4        Grey decides whether a payment is a Qualifying Salary Payment. It uses payment data such as the sender’s name, the payment reference and the payment scheme. Grey may ask you for proof that a payment is genuine salary, such as a recent payslip, employment contract or payroll statement. If you do not provide it within seven (7) days of being asked, the payment will not count.

6.5        If Grey wrongly treats a payment as not qualifying, that payment does not count for that month. Grey will try to correct the cause for future months.

7. Paycheck Status

7.1        You get Paycheck Status when Grey recognises a Qualifying Salary Payment into your Grey Account. You keep it while you receive a Qualifying Salary Payment in each calendar month, and you lose it if you do not. It comes back automatically with your next Qualifying Salary Payment. Grey will tell you in the app when your Paycheck Status changes.

7.2        You can only use the Benefits once you have Paycheck Status. This applies to new and existing Grey customers.

7.3      While you do not have Paycheck Status:

             (a) any higher interest rate on your Emergency Fund and Pouch changes to the standard rate. Interest you have already earned is not affected;

             (b) your Paycheck badge and design are hidden; and

             (c) you cannot be selected for Rewards.

8. How Grey uses your information

8.1        To provide Paycheck, Grey uses your account and transaction information, such as the amount, date, sender, reference and payment scheme of payments, together with any salary information you give us. Grey uses it to recognise salary payments, provide Benefits, select customers for Rewards, pay Rewards and prevent fraud.

8.2        How Grey handles your personal data is explained in our Privacy Policy.

9.   Turning off Paycheck
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9.1      You can turn off Paycheck at any time in Paycheck Home by selecting Settings and then Turn off Paycheck. You can also contact Grey support at support@grey.co.

9.2      When you turn off Paycheck:

• you lose Paycheck Status and access to all Benefits from that point;
• you are removed from every Reward selection that has not yet been run;
• your money stays in your Grey Account and any pouches, and interest is treated as set out in section 16 and the Pouch Interest Terms; and
• scheduled payments set up through Paycheck stop..

9.3     You can turn Paycheck back on at any time. Doing so does not create Reward entries for any earlier month.

9.4     If you only want to stop being included in Rewards, see section ….

10. Changes to Paycheck and Benefits
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10.1    Paycheck has no fixed end date. Grey may close Paycheck by giving you at least 30 days’ notice.

10.2      Grey may add new Benefits at any time. A new Benefit will be described in Part B of this Agreement before it becomes available.

10.3      Grey may change or end an individual Benefit under that Benefit’s section of Part B without changing the rest of these terms.

10.4      If a change to these terms or to a Benefit is unfavourable to you, Grey will give you at least 30 days’ notice. This does not apply where a change is needed straight away to comply with the law or a regulator, or to protect against fraud or abuse.

10.5      Grey may pause or end Paycheck or any Benefit immediately and without notice if:

• Grey suspects fraud, abuse or other suspicious behaviour;
• a technical or operational problem affects Grey’s ability to provide it as described in these terms; or
• the law, a regulator or a banking or payment partner requires it.

If this happens, Grey will tell affected customers in the app or by email.

10.6      Grey will give notices under these terms in the Grey app, by email or on its website.

11. Fair use
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11.1      You must not do anything to obtain Paycheck Status or a Benefit artificially. This includes arranging payments from people connected to you, moving money in circles, opening more than one customer profile, or giving false or misleading information.

11.2       If Grey reasonably believes that you have breached section 11.1 or any other part of these terms, Grey may remove your Paycheck Status, disqualify you from Benefits, withhold or recover any Reward, and take action under your Grey account terms. That action may include restricting or closing your account.

12. Tax
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12.1      You are solely responsible for any tax due on interest or Rewards you receive. Grey may make certain reports regarding transactions as required by law or a regulator.

PART B: PAYCHECK BENEFITS

13.    Fixed Benefits
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Fixed Benefits are available to you while you have Paycheck Status, including during your Qualification Window.

13.1   Emergency Fund

• When you get Paycheck Status, Grey creates an Emergency Fund pouch for you. It earns the interest rate set out in the Pouch Interest Terms. 
• The Emergency Fund helps you save the equivalent of three months of your salary over 12 months. This target is a guide only. You do not have to reach it.
• If you lose Paycheck Status, your Emergency Fund earns the standard rate until you get Paycheck Status back. Your money stays where it is.

13.2    Higher-interest Pouch. While you have Paycheck Status, your Pouch earns the Paycheck rate set out in the Pouch Interest Terms. If you lose Paycheck Status, it earns the standard rate.

13.3   Salary Sorter

• You can choose how each Qualifying Salary Payment is split between your Grey Account balance, a Pouch and your Emergency Fund.
• Grey will move the amounts after your salary is credited. You can change or turn off your split at any time before your next salary arrives.
• If there is not enough money to complete a split, Grey will move what it can in the order shown in the app.

14. Rewards: rules that apply to all Rewards
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14.1      Rewards are free customer rewards. No purchase or payment is needed to be included. Selection is not guaranteed, and you may never be selected.

14.2      To be included in a Reward, you must be an Eligible Customer with Paycheck Status on the Selection Date and on the date the Reward is paid. You cannot be included if you are, or are a close family member or household member of, a director, officer, employee or contractor of Grey or any company in the Grey group. This does not affect your use of Paycheck or the Fixed Benefits.

14.3      Where a Reward involves random selection, Grey uses a random method designed to give each eligible entry an equal chance within the pool it is drawn from. Grey does not influence which entries are selected. Grey keeps a record of each selection for at least 12 months, or any longer period required by law.

14.4      Before paying a Reward, Grey may ask you for information or documents to confirm your identity, your eligibility and the source of the relevant payment. You must provide them within seven (7) days of being asked. If you do not, or if Grey cannot confirm your eligibility, the Reward is forfeited, and Grey may select a replacement at random from the same pool.

14.5      Grey may withhold a Reward or, if it has been paid, take it back by deducting it from your Grey Account or asking you to return it, to the extent the law allows, if Grey finds that:

• the payment that qualified you was not a Qualifying Salary Payment, or was later returned, reversed, recalled or disputed;
• the payment was arranged to obtain a Reward; or
• you or your account breached these terms or your Grey account terms.

14.6      Grey will tell you if you have been selected in the Grey app and by email. Grey will never ask for your password, PIN, card details or any payment in order to release a Reward. If someone asks   you for these things in Grey’s name, do not reply, and report it to us through the app.

14.7      Grey will not publish your name, photograph, story or other personal details for publicity without your separate and voluntary consent. Receiving a Reward does not depend on giving that consent. Grey may announce that Rewards have been awarded without naming anyone. If the law or a regulator requires Grey to make winner details available, Grey will provide only what is required, which may be limited to your first name and country of residence.

14.8      You can stop being included in Rewards, while keeping Paycheck Status and Fixed Benefits, in Paycheck Home by selecting Settings and then Rewards. You can opt back in at any time. Opting back in does not create an entry for any earlier month.

14.9      Rewards are personal to you. They cannot be transferred, exchanged or paid in any other form.

14.10    Grey is not required to provide a Reward if an error or omission, including in the coding, development or running of a Reward, causes a selection or payment to work differently from these terms. This includes an error that would make your chances or your Reward greater than these terms intend. If Grey pays a Reward, or part of one, by mistake, it may recover the excess to the extent the law allows.

14.11    Grey’s decisions about eligibility, selection and Rewards are final unless there is an obvious error. This does not affect your legal rights or your right to complain by contacting Grey support at support@grey.co.

14.12    If Grey pauses or ends a Reward, Grey will still pay any Reward owed to a customer selected before the pause or end, unless section 14.5 applies.

15. Double Salary: Official Rules
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15.1      Sponsor:  The sponsor of Double Salary is Grey Inc. Double Salary runs in monthly rounds starting 3rd of December 2026 and continues until it ends. The Promotion has no fixed end date. Grey may close it by giving you at least 30 days' notice. Section 14 forms part of these official rules.

15.2      How to enter: If you are eligible under section 17.2, you are entered automatically for each calendar month in which you receive a Qualifying Salary Payment of between USD 300 and USD 20,000 in a single payment, or the equivalent in GBP or EUR (an “Entry Month”). You do not need to do anything.

15.3      One entry per month: You get one entry per Entry Month, however many salaries you receive and however many Grey Accounts you have. Your entry is based on the first Qualifying Salary Payment you receive in that month, in the amount actually credited to your Grey Account after any tax, deductions and fees (your “Entry Payment”).

15.4      Deadline. Your Entry Payment must be received by 23:59 UTC on the last day of the Entry Month. For example, a salary received in September is included in the selection on 1 October.

15.5      Monthly selection. Grey runs one selection per month on the first calendar day of the month following the Entry Month. If a technical issue prevents this, Grey will run it no later than the first Business Day of that month.

15.6      Prize bands and winners. Each entry is placed in a prize band according to the amount of its Entry Payment. Grey selects one entry at random from each band:
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15.7      Odds: Every entry in a band has an equal chance of being selected from that band. Your chance of being selected depends on how many entries are in your band that month. If a band has no entries, no prize is awarded for that band.

15.8      The prize: If you are selected, you receive a one-off payment from Grey equal to your Entry Payment, up to the Maximum Prize for your band. For example, if your Entry Payment of USD 1,200 is selected from Band 4, your prize is USD 1,200. If your Entry Payment of USD 11,000 is selected from Band 5, your prize is USD 5,000. The most Grey will pay in prizes in any month is USD 8,800 or the equivalent in GBP or EUR. Being selected in one month does not stop you from being entered in later months.

15.9      Currency. The prize is paid in the same currency as your Entry Payment, into the Grey Account that received it. Where an amount in GBP or EUR has to be compared with a USD amount, Grey converts it at Grey’s rate on the date the payment was received (for the entry range and bands) or on the Selection Date (for the Maximum Prize).

15.10    When you are paid. Grey may let you check whether you were selected by tapping the salary transaction or the Double Salary card in the app. If you do, Grey will aim to pay your prize straight away. Otherwise, Grey will pay it within seven (7) days after the end of the month in which you were selected.

15.11    You cannot take part if:

• you are, or are a close family member or household member of, a director, officer, employee or contractor of Grey or any company in the Grey group;
• your Qualifying Salary Payment was received only into a Grey business account;
• Grey knows or suspects that you or your Grey Account are connected to fraud, money laundering, sanctions evasion or any other illegal or suspicious activity; or
• you have seriously or repeatedly breached your Grey account terms

15.12    How you are paid. Grey will pay the prize as a credit to your Grey Account, using the same payment scheme as your Entry Payment where Grey’s systems allow. Grey does not run a separate eligibility review on the prize payment beyond the checks already applied to your Entry Payment and your Grey Account. However, Grey’s normal screening and monitoring obligations always apply. Nothing in these terms limits Grey’s right to delay, withhold, return or report any payment where the law, a regulator or a banking partner requires it, or where Grey reasonably suspects a breach of these terms.

15.13    The Promotion is not available where it would be unlawful or would need a licence, registration or approval that Grey does not hold. Grey may change the list of Eligible Territories at any time. 

16. Free Transfers
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16.1      Each month, Grey selects Eligible Customers with Paycheck Status at random to receive free transfers.

16.2      If you are selected, Grey waives its transfer fee on sending or receiving transfers made from or to your Grey Account during the 30 days after the Selection Date. Any free transfers you do not use in that period expire.

16.3      Free transfers cover Grey’s transfer fee only. They do not cover any exchange rate margin on a currency conversion, or fees charged by other banks or payment providers.

16.4      Grey will tell you in the app and by email if you have been selected. Free transfers are applied automatically to eligible transfers in the period.

17.   Liability, complaints and governing law
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17.1      Grey is not required to pay a Prize if, because of an error or omission (including in the coding, development or running of the Promotion), the Prize Selection or a Prize payment works differently from these terms. This includes an error that would make your chances of selection or your Prize higher than these terms intend. If Grey pays a Prize or part of a Prize by mistake, it may recover the excess, to the extent the law allows.

17.2      Grey is not responsible for whether or when your employer pays you, or for delays caused by banks, payment schemes or other third parties. Grey is not liable for losses caused by events beyond its reasonable control, or for indirect or consequential losses.

17.3      Nothing in these terms limits liability for fraud, for death or personal injury caused by negligence, or for anything else that cannot be limited by law.

17.4      If you have a complaint about the Promotion, contact Grey support at support@grey.co. 

17.5      These terms, and any dispute arising out of or in connection with the Promotion, are governed by the laws of the State of Delaware, United States of America. Nothing in these terms takes away any rights you have under the laws of the country where you live that cannot be excluded or limited by agreement. If you have a concern about Paycheck or any Benefit, please contact us first so we can try to resolve it.

18.  General
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18.1      By receiving a salary payment into your Grey Account without opting out, you accept these terms. If you do not accept them, you can opt out under section 9. 

18.2     You may not transfer any of your rights or obligations under these terms to anyone else. Grey may transfer its rights and obligations under these terms to another company in the Grey group, or to anyone that takes over all or part of Grey's business, provided the transfer does not reduce your rights under these terms.

18.3      If any part of these terms is found to be unenforceable, the rest continues to apply. If Grey does not enforce a right straight away, it does not lose that right.

19. Future Benefits

19.1      Grey may add further Benefits, such as bill refunds and boosted referral rewards. Each will be described in a new section of Part B before it becomes available.