Terms of Service

These Altitude Account Terms (the "Altitude Account Terms") govern Customer's access to and use of the Altitude Account. The Altitude Account Terms are Supplemental Terms, as defined in the Squads Terms of Service (the "Squads Terms" and, together with these Altitude Account Terms, the ("Agreement"). Capitalized terms used but not defined herein have the meaning given in the Squads Terms. In the event of a conflict between the Squads Terms and these Altitude Account Terms, these Altitude Account Terms will control with respect to Customer's access to and use of an Altitude Account.

1. Altitude Account Management

1.1. Customer Ownership

Customer owns and controls the Supported Crypto Assets held through Customer's Altitude Account. At any time, subject to having internet access and access to and the availability of the relevant blockchain, Customer may withdraw Customer's Supported Crypto Assets by sending them to a different blockchain address. Customer's use of the Altitude Account does not transfer any ownership rights or title to Customer's Supported Crypto Assets to Squads.

1.2. No Custody or Control by Squads

Squads does not maintain control over Customer's assets. As the owner of digital assets in Customer's Altitude Account, Customer shall bear all risk of loss of such digital assets. Squads shall have no liability for digital asset fluctuations or Losses associated with Customer's use of the Services or its Altitude Account.

1.3. Security

Customer is solely responsible for maintaining the security, confidentiality, and safety of its Altitude Account, including its email account and other access credentials associated with its Altitude Account. Customer understands and agrees that its email account associated with its Altitude Account is the only way to access the Altitude Account and that, if Customer loses access to such email account, Customer will not be able to access its Altitude Account. Likewise, Customer is solely responsible for any and all activities that occur under or during Customer's and its Authorized Users' use of the Altitude Account. Any security breach, including but not limited to unauthorized access, data loss, or system compromise that arises from or is connected to Customer's use of the Altitude Account or Customer's failure to implement and maintain adequate security measures is Customer's sole responsibility. Squads expressly disclaims all liability for any Losses of any kind arising from any such breach.

1.4. Blockchain Dependency

Customer acknowledges and agrees that digital assets, including stablecoins, exist only by virtue of the ownership record maintained in the applicable blockchain network, which Squads does not control. Any transaction that might occur in any digital asset occurs on the decentralized ledger within such blockchain network, which Squads does not control.

2. Account transactions

2.1. Transaction Capabilities

The Squads Platform is designed to enable Customer to send, receive, and otherwise transact with Supported Crypto Assets and, through the use of Third-Party Services, to conduct Transactions that originate or settle in Fiat Currencies. Subject to the availability of, and at the direction of, the providers of such Third-Party Services, Customer may be able to receive settlement of Supported Crypto Assets to, and fund transactions in Supported Crypto Assets from, Customer's Altitude Account through various payment rails, including ACH, Wire, SEPA, and stablecoin transfers (each, a "Transaction"). Transactions may require approval from Admins and must be signed off by authentication credentials according to Customer's policies.

2.2. Not Responsible For Losses

When Customer or a third Person sends Supported Crypto Assets to an Altitude Account address, the Person initiating the Transaction is solely responsible for executing the Transaction properly, which may include, among other things, payment of sufficient network fees in order for the Transaction to be successful. Furthermore, Customer agrees and understands that digital assets (including stablecoins) are not backed by any government and do not constitute legal tender. Digital assets may not be subject to the national or international laws that protect Customer funds or investments or other similar protections offered by governmental bodies.

2.3. Rewards

Squads may earn incentives from providers of Third-Party Services in connection with Customer's holding certain eligible stablecoins in Customer's Altitude Account. For avoidance of doubt, the Altitude Account is not a deposit account, does not itself earn interest, and is self-custodied by Customer. Nevertheless, Squads may in its discretion elect to pay rewards to Customer in eligible jurisdictions based on the amount of eligible Supported Crypto Assets self-custodied by Customer in its Altitude Account, and the incentives earned by Squads with respect to the issuance and use of such Supported Crypto Assets. Customer acknowledges that: (a) any reward amounts or rates are variable and subject to change without notice, (b) rewards are not guaranteed and may fluctuate (or be eliminated entirely) at the sole discretion of Squads, or otherwise based on market conditions, and past performance does not guarantee future results; and (c) Squads reserves the right to change or remove any rewards program at any time. Rewards are not available to Customer in certain jurisdictions including, at this time, if Customer is resident in the EEA, Singapore, or Japan.

This Section 2.3 concerns rewards based on eligible assets held in an Altitude Account. Card cashback and promotional rewards are governed separately by the Altitude Card Cashback Rewards Program terms and Sections 2.5–2.8 below. The discretionary reward provisions and geographic exclusions in this Section 2.3 do not, by themselves, determine eligibility for those separate programs, which remain subject to their own requirements and applicable law.

2.4. Promotional Offers

This Section 2.4 applies to promotions that are not specifically governed by Sections 2.5–2.8 below, including the payment-recipient account-opening promotion described in this Section. For promotions governed by Sections 2.5–2.8, those sections apply instead of this Section 2.4. This amendment does not change the terms applicable to a promotion in which a Customer previously enrolled.

From time to time, Squads may make promotional offers available to eligible existing or prospective Customers in connection with the Altitude Account (each, a “Promotion”). Unless separate terms are provided for a particular Promotion, the following terms apply.

Eligibility. Promotions are available only to persons or businesses that receive an invitation or are otherwise identified by Squads as eligible. Eligibility may be limited based on jurisdiction, account status, transaction history, or other criteria determined by Squads. Participation in any Promotion is subject to successful completion of all applicable onboarding, identity verification, business verification (KYB), sanctions screening, compliance requirements, and availability of the Altitude Account in the Customer’s jurisdiction.

For a Promotion offered to a recipient of a payment from an existing Altitude Customer, the recipient must: (a) have received a bona fide payment from an existing Altitude Customer; (b) not already have, or previously have had, an Altitude Account, unless otherwise stated in the applicable Promotion; (c) apply for an Altitude Account through the applicable promotional invitation or link; and (d) successfully open an Altitude Account before the expiration date stated in the promotional communication.

Promotional Reward. Eligible Customers who satisfy all requirements of the applicable Promotion may receive the reward specified in the promotional communication (the “Promotional Reward”). For the $100 Altitude account-opening Promotion, the Promotional Reward is USD $100, or the equivalent amount denominated in a Supported Crypto Asset as determined by Squads, credited to the eligible Customer’s Altitude Account.

Unless otherwise specified, a Promotional Reward will be credited within thirty (30) days after Squads determines that all eligibility requirements have been satisfied. Promotional Rewards have no cash alternative, are non-transferable, and are limited to one Promotional Reward per Customer, business, and substantially common beneficial ownership or control.

Qualifying Payments and Abuse. A payment used to establish eligibility for a Promotion must represent a legitimate, bona fide transaction. Payments made primarily for the purpose of obtaining a Promotional Reward, including self-payments, circular transactions, transactions between commonly controlled entities, artificially structured transactions, duplicate transactions, or other activity that Squads reasonably determines to constitute misuse or abuse of a Promotion, will not qualify.

Squads may withhold or cancel a Promotional Reward before it is credited, or require repayment of a Promotional Reward after it has been credited, if Squads reasonably determines that a Customer was not eligible, failed to satisfy the Promotion requirements, engaged in fraudulent, abusive, or manipulative activity, violated this Agreement, or received a Promotional Reward in error.

Promotion Period. Each Promotion is available only during the period specified in the applicable promotional communication. Applications, account approvals, or other qualifying actions completed after the applicable expiration date may be deemed ineligible.

Changes and Availability. Promotions are offered at Squads’ discretion and may not be available in all jurisdictions or to all Customers. To the extent permitted by applicable law, Squads reserves the right to modify, suspend, or terminate a Promotion at any time, including where reasonably necessary to prevent fraud, abuse, or violations of applicable law. Any modification will not affect a Promotional Reward already earned by an eligible Customer before the effective date of the modification, except in cases of fraud, abuse, error, or violation of this Agreement.

Taxes. Customers are solely responsible for any taxes, duties, reporting obligations, or other liabilities arising from receipt of a Promotional Reward.

In the event of any conflict between the terms stated in a promotional communication and this Section 2.4, the terms expressly stated in the promotional communication will control solely with respect to the applicable Promotion.

2.5. General Terms for Card and Welcome Promotions

2.5.1. Scope and operator. Sections 2.5–2.8 govern the Altitude Card Referral Program, the Invitation-Only 4% Card Cashback Offer, and the Acctual Welcome Offer, together referred to as the “Promotions.” Selimor Investments Limited (“Squads,” “we,” or “us”) operates and funds the Promotions. Rewards belong to the participating business, not its employees, administrators, owners, or other individuals.

These provisions form part of the Altitude Account Terms and the Squads Terms of Service. Capitalized terms not defined here retain their meanings under those agreements.

2.5.2. Eligibility and enrollment. Participation requires eligibility for the relevant Altitude Account, Altitude Card, Promotion, and reward asset in the business’s jurisdiction, together with completion of applicable identity verification, business verification (“KYB”), sanctions screening, and other compliance requirements. Receiving an invitation or submitting an application does not guarantee approval.

An authorized representative must enroll or submit a referral on the business’s behalf through the method specified for the Promotion. An invitation issued to a particular business cannot be transferred to another business.

Any enrollment deadline must identify the required action, date, and timezone. An enrollment deadline is separate from the period allowed to complete qualifying spending. Unless expressly stated in the applicable offer, Acctual’s closure date does not determine either deadline.

2.5.3. Eligible Spend. “Eligible Spend” means genuine business purchase transactions made using Altitude Cards and settled during the applicable qualification period, aggregated across the participating business’s cards.

Eligible Spend excludes refunds, reversals, chargebacks, canceled or declined transactions, fraudulent transactions, cash advances, ATM withdrawals, purchases of cash equivalents, fees, interest, account funding, money transfers, transfers between accounts, and artificial, circular, or self-dealing transactions. Invoicing or bill pay activity does not count unless it results in an otherwise qualifying Altitude Card purchase.

A disputed transaction is excluded while the dispute remains unresolved. If resolved as a valid purchase, it is evaluated using its original settlement date. Transactions count when settled, not when authorized. Merchant settlement delays may therefore affect eligibility.

Spend is measured using the USD amount recorded by the card program at settlement, including its applicable currency conversion. A purchase is counted only once, regardless of the number of cards, users, workspaces, or records associated with it.

2.5.4. Time periods. “KYB Approval” means Squads’ confirmation that the business has completed the required business verification for its Altitude Account. “Card Approval” means approval of the business for the Altitude Card program, rather than issuance or replacement of an individual employee card.

The start event for each Promotion is specified below. The business’s confirmation must state the exact start and end dates, times, and timezone. Unless that confirmation provides otherwise, a period begins at the recorded approval time and ends 60 or 90 days later, as applicable, measured in UTC; transactions settling at or after the end time are outside the period. Additional cards, replacement cards, and additional workspaces do not restart the period.

2.5.5. Reward assets and payment. Where a Promotion states that rewards are paid in USDC, each USD 1 of calculated reward corresponds to 1 USDC. For example, a USD 500 reward is paid as 500 USDC. This is a reward-calculation convention, not a guarantee that USDC can always be sold or redeemed for USD 1.

The applicable offer determines the reward destination and payment schedule. Eligibility and the amount earned are determined by the underlying events, not by the date on which Squads completes its administrative review.

Rewards are not paid to personal accounts. A right to a pending reward cannot be sold or assigned. Once USDC is credited, its use is governed by the applicable account or card terms; this restriction does not create an additional transfer restriction on credited assets.

2.5.6. Combining offers. Unless Squads expressly approves a combination in writing before enrollment, a business may receive only one acquisition promotion for its own onboarding: the referred-business reward under Section 2.6, the introductory cashback offer under Section 2.7, the Acctual welcome bonus under Section 2.8, or another account-opening incentive.

The business must select its acquisition promotion before enrollment is confirmed. A change requires written confirmation addressing its effect on any associated referral. If the business selects another acquisition promotion, neither referral reward is payable for that business’s referral.

A business that receives its own acquisition promotion may nevertheless earn referring-business rewards for introducing other qualifying businesses. Standard card cashback may accompany referral rewards and the Acctual welcome bonus. Section 2.7 specifies how its promotional rate replaces standard cashback.

2.5.7. Verification, adjustments, and recovery. Squads may request information reasonably needed to establish eligibility or investigate an apparent error, dispute, or abuse. Squads may withhold, adjust, or recover rewards attributable to excluded spending, duplicate enrollment, material misrepresentation, fraud, later-discovered ineligibility, or administrative error.

Refunds and other adjustments are attributed to the original transaction. If an adjustment reduces Eligible Spend below a fixed-bonus threshold, the affected bonus may be withheld or recovered unless other Eligible Spend within the original qualification period satisfies that threshold. Percentage rewards are recalculated on the adjusted spend.

Squads will explain a material adjustment unless prohibited by law. Recovery may occur through an adjustment to unpaid rewards or a repayment request, subject to applicable law and the Agreement. This provision does not grant Squads control of a customer’s self-custodied assets.

Payment may be delayed where legally required or reasonably necessary to investigate suspected fraud or an unresolved eligibility issue. An internal processing delay alone does not extend a stated payment deadline.

2.5.8. Changes and termination. Squads may change or end a Promotion prospectively and may withdraw an invitation before activation. Subject to applicable law, a validly recorded referral or confirmed enrollment retains its stated qualification window and material reward terms.

Changes do not reduce rewards already earned. Squads may suspend participation or payment where required by law or reasonably necessary to address fraud, abuse, or material breach, subject to Section 2.5.7. Applicable contractual notice and consent requirements continue to apply.

2.5.9. Taxes, privacy, and questions. Each business is responsible for taxes and reporting obligations associated with its rewards. Squads may request tax documentation and make legally required reports or withholding.

Personal information is handled under the Privacy Policy. Questions or reward discrepancies may be raised through the business’s Altitude representative or the Altitude Help Center.

2.5.10. Relationship to other terms. For these Promotions, the specific offer provisions in Sections 2.6–2.8 control over Section 2.5. These promotional provisions control over conflicting provisions in the Altitude Account Terms and Cashback Terms concerning promotional eligibility, rates, caps, earning, payment, forfeiture, and changes.

An authorized written offer confirmation may specify permitted customer-specific details or an expressly agreed variation. An abbreviated advertising summary does not introduce an unstated eligibility condition or remove an expressly promised benefit.

Except for these limited overrides, the Agreement and applicable cardholder and third-party agreements continue to apply. These Promotions do not modify a card issuer’s obligations. No general discretion or disclaimer provision permits Squads to refuse a reward solely because payment is discretionary after the stated requirements have been satisfied. General liability limits do not reduce the amount of a promotional reward properly due under these sections.

2.6. Altitude Card Referral Program

2.6.1. Eligible referrers. The referrer must be an Altitude customer business. An authorized account administrator must submit the referral to its Altitude representative or through another designated referral channel on the business’s behalf. The reward is credited to the business’s Altitude Card balance.

2.6.2. Qualifying new businesses. At the time the referral is recorded, the referred business must:

(a) have no existing Altitude Account and never previously have been an Altitude customer;
(b) have no Altitude application already submitted or under review; and
(c) not already be an active opportunity in Altitude’s sales pipeline.

Squads determines pipeline status using its records at the time the referral is received and will confirm whether it accepts the referral. An entry created after receipt does not retrospectively disqualify an otherwise valid referral.

2.6.3. Attribution. The referral must be recorded before the referred business applies. Only one referrer may qualify for each referred business. If multiple referrals are submitted, the earliest validly recorded referral takes priority.

Self-referrals and referrals between businesses under common ownership or control do not qualify.

2.6.4. Spending requirement. The referred business must open an Altitude Account, receive Card Approval, and accumulate at least USD 5,000 of Eligible Spend within 60 calendar days of Card Approval. Spending is aggregated across all of that business’s Altitude Cards.

2.6.5. Rewards and payment. When the requirements are satisfied, Squads will credit:

(a) 500 USDC to the referring business’s Altitude Card balance; and
(b) 500 USDC to the referred business’s Altitude Card balance.

Both payments are due within 30 calendar days after the USD 5,000 Eligible Spend threshold is met, subject to Section 2.5.7. Both businesses must maintain open Altitude Accounts and eligible Altitude Card accounts in good standing through payment. “Good standing” means neither account is terminated or suspended for a material violation and neither business has overdue amounts owing under the applicable account or card agreement.

2.6.6. Limits and other offers. A referring business may receive a reward for each qualifying referred business, with no limit on the number of qualifying referrals. A referred business may qualify only once.

The referral rewards cannot be combined with another acquisition promotion for the same referred business. This does not prevent either business from earning standard card cashback on qualifying purchases or the referrer from participating in an offer for its own onboarding.

2.6.7. Referral conduct. Before sharing an individual’s contact details, the referrer must obtain that person’s permission. The referrer must clearly disclose that its business may receive a reward for the introduction and must not make misleading claims, conceal material offer conditions, or use unlawful unsolicited communications.

The referrer has no authority to bind Squads or guarantee account approval or payment.

2.7. Invitation-Only 4% Card Cashback Offer

2.7.1. Eligibility and activation. This offer is available only to invited businesses opening their first Altitude operating account. The business must activate the offer through its Altitude representative before opening the account and satisfy any deadline stated in its invitation.

Squads will provide an activation confirmation identifying the business, offer, and exact promotional period. Card issuance and use remain subject to separate approval.

2.7.2. Promotional period. The offer runs for 90 calendar days beginning at KYB Approval. Time spent awaiting Card Approval or issuing cards falls within those 90 days; it does not postpone or restart the promotional period.

2.7.3. Rate and cap. The business earns promotional cashback at a total rate of 4% on Eligible Spend during the promotional period, up to USD 500,000 of Eligible Spend and a maximum reward of 20,000 USDC across all its cards combined.

There is no minimum spending threshold. Rewards accrue proportionately from the first dollar: USD 100,000 of Eligible Spend earns 4,000 USDC; USD 500,000 earns 20,000 USDC.

The 4% rate includes and replaces standard cashback on the same spending. It is not an additional 4% on top of standard rewards. If standard cashback is credited separately, Squads will credit only the additional amount needed to bring the combined reward on that spending to 4%.

2.7.4. Spending above the cap and after the period. Eligible Spend is allocated to the promotional cap in settlement order. If a transaction crosses the USD 500,000 cap, only the portion within the remaining cap receives the 4% rate; the remainder is evaluated under the standard Cashback Terms.

Standard cashback applies to subsequent qualifying spending after the cap is reached or the 90-day period ends, whichever occurs first. Refunds or adjustments may reduce promotional rewards but do not restart a promotional period that has ended.

2.7.5. Payment. Promotional cashback is credited monthly in USDC to the business’s Altitude Cards balance, no later than 45 calendar days following month-end, subject to Section 2.5.7. Rewards for the final partial month follow the same schedule.

Rewards properly earned before the promotional period ends remain payable afterward. If the receiving account is closed, Squads will arrange a lawful payment method for any properly earned amount, subject to verification and applicable law.

2.7.6. Other offers. This offer cannot be combined with another acquisition promotion for the same business unless expressly agreed in writing before activation. Standard merchant-category eligibility, rates, and exclusions apply to spending outside this offer under the Cashback Terms.

2.8. Acctual Welcome Offer

2.8.1. Eligible businesses and enrollment. This offer is available to Acctual business customers that are not already Altitude customers when they apply through this offer.

Visiting the Acctual website, receiving an email, or holding an Acctual account does not, by itself, earn the welcome bonus. Participation remains subject to account and card approval and the eligibility requirements in Section 2.5.

2.8.2. Spending requirement and promotional period. The business must accumulate at least USD 25,000 of Eligible Spend across its Altitude Cards within 90 calendar days beginning at KYB Approval.

Squads will confirm the applicable start and end dates, times, and timezone. Time spent awaiting Card Approval or issuing cards falls within those 90 days. Card Approval, card issuance, additional cards, and replacement cards do not postpone, restart, or extend the qualification period.

The bonus is earned only when the full USD 25,000 threshold is met. Spending below that threshold does not earn a partial welcome bonus.

2.8.3. Bonus and payment. A qualifying business receives a USD 1,000 welcome bonus, paid as 1,000 USDC to its Altitude operating balance, within 30 calendar days after satisfying the spending and eligibility requirements, subject to Section 2.5.7.

The business must maintain an open account and, where payment requires it, an eligible card account in good standing through payment.

2.8.4. Limits and standard cashback. Each eligible business may receive one Acctual welcome bonus. Additional cards, workspaces, or duplicate registrations do not create additional entitlements.

The bonus is additional to standard cashback earned on qualifying card purchases. It cannot be combined with the referred-business reward, the 4% introductory offer, or another acquisition promotion for the same business unless expressly agreed in writing before enrollment.

An eligible business receiving this bonus may separately earn referring-business rewards for introducing other qualifying businesses under Section 2.6.

2.8.5. No automatic migration. Participation requires the applicable Altitude onboarding and account agreements. The announcement concerning Acctual does not, by itself, open an Altitude Account, approve an Altitude Card, transfer customer assets or records, or satisfy the bonus requirements. Migration steps and service availability are described in the applicable customer communications.