SOUPZ Terms/Conditions
On this page, you will find all the information you need to know about our Plan saving volumes, restrictions, and penalties. Here at SOUPZ, our goal is to help musicians (and others) save money weekly/monthly, allowing their efforts to produce an annual harvest they can use for any project or event they please!
Everyone can do this in their own time, at their own pace. The Tiers serve as indicators that recount your final accumulation after your 10-month interval concludes. Hopefully, everyone will save within their means, as none of us is greater than the other. Whatever level any of us attain in our savings quest, we are ALL truly blessed!
(SOUPZ is closed for operations on Sundays. We will not answer emails, finalize withdrawals or refunds till the next day.)
Ready to withdraw? Click the SPON - W/Ds tab below HOME tab above.
TERMS/CONDITIONS FOR CORE SAVERS
*GO TO PLUS SAVERS PAGE FOR PERTINENT DETAILS*
According to the "Money 7 rule", you should spend 50% of your income on essential expenses, 30% on non-essential expenses, and save 20%. The SOUPZ Core MAX is $1,600. You would "break this rule" if you made under $8,000 per year. Who can survive on that annual amount these days? No worries on this concern.
There is a "zero tolerance" for money laundering practices. If you're exposed for committing multi-account fraud, ALL your funds will be "seized" and delivered to the IRS. There's no reward for uncovering anyone on our end, as the minimum dollars that must be confiscated before the IRS will award anyone is $2 million. But they "will" be coming after YOU!
SOUPZ will pause Membership registration once the TFA for all Members reaches $200,000. The SOUPZ main account in which all accounts housed, is insured up to $250,000, and we leave $50,000 for operating and miscellaneous purposes.
Membership/Status [$7.99/mo. or $60/yr.] Active for 30 days or a year upon payment.
You must be at least 17 years old to join, and 18 years old at the time of the Contest drawing. Your D.O.B. must be entered on your join form as well as the last 4 of your SS#. This is how you will be qualified for the Contest after your short term requirement (STR). To capture all alerts promptly, please register an email address you frequently use.
Your annual membership fee of $60 must be paid upfront. Everyone must also deposit a minimum of $10 to open any plan they choose in SOUPZ.
To complete the short-term requirement (STR), you must deposit an additional $30 within 25 days of joining, or your plan will default to your 1st suspension, leaving you 72 hours for recovery. (see FAQ #1).
Your deposits must total $30 to be eligible for sponsorship. Patrons may be on hand to back you on days 26 - 28. You may still need to add more funds to complete the STR. If not, their donation will revert to another member on the SPON, and your plan will terminate by the end of Day 28.
Achieving Tier 1 ($200 in deposits in 20 weeks or sooner) secures your status as active for the remaining 140 days (2nd half of your interval) from the day you joined. After the MDR, you can save up to the CORE MAX ($1,600) if you like. (40*WI). $ow more to reap a sizable harvest!
You have 19 weeks to save a minimum $10/wk. after your 1st week @ $10. The Midpoint Deposit Requirement (MDR) must be met at the end of this period. Any extra deposits now & then gets you there sooner (6 deposits per month allowed).
Any plan initiated and is inactive 1 SOUPZ quarter (70 days) with no deposits before the MDR will warrant auto-termination of your selected plan and will be processed as such.
*Project/Event plans may convert to vacation status only by default. Those conversions will not be eligible for the Daily Benefit credit.
Quarterly alerts are excluded from the SOUPZ protocol. When approaching this restrictive period, you won't receive a notification of this concern. Termination is immediate without recourse.
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Oftentimes, when we think things are coming together for us, life hits us with a curveball. Sometimes we see it coming. Most of the time, we're caught off guard, unable to break the chains of the financial gravity, leaving us distressed and in need of help.. At any rate, emergency measures must surely be put into effect.
SOUPZ understands this, and we are not apathetic to the unfortunate circumstances that may arise in one's life.
In a beneficial attempt to help manage these life hardships, this operable recourse is available for all Achiever Tier members and above:
*EMERGENCY WITHDRAWAL OPTION* (EWO)
Once the MDR is achieved, all Savers in SOUPZ can initiate an "emergency withdraw" of their TFS (travel funds saved) up to 1 month before your plan conclusion. The cost to initiate this recourse is $6 - $10 per each month left on your plan + a 2% canceling and $2 check fees.
This cancel fee is directly related to the amount of your TFA (total funds accrued).
TFA per month penalty range: $6 under $500 TFA [$8 / $500 - $999 and {$10 - $1000 and over.
Requesting EWO "before 20 days" into the current month will include that month as a month left.
Time Left Explanation: when requesting an EWO just after MDR completion:
5 months left - $30/$50 <> (4 mos. left - $24/$40 <> (3 mos. left - $18/$30
(2 months left - $12/$20 <> 1 month left - ineligible to withdraw until Plan completion.
Requesting an "EWO" after 20 days would reduce the months left by one and would thereby reduce this charge. No excuses are acceptable. The fee will be pre-deducted from your TFS.
Example; You saved $600 in 5 months and 11 days. You want to initiate the EWO. The cost to do this would be $42 with the check fee, as the required period to exclude the current month is 20 days. Waiting 9 more days would reduce this charge to $32, with an additional 2% cancel fee ($12). A membership termination is not advisable, as the rate to do so is 10% + $2 CF ($62).
Just to clarify, the "mos. left" charge is additional to the (1) 2% cancel charge and (2) the check fee, with both of these relevant to your total TFS.
Once the STR is accomplished, all accounts in SOUPZ are "time locked" until completion of the MDR. The EWO option is only available after this requirement. If not, your TFA will be filed as a self-termination, and subject to those rates (10% + $2 CF).
*An emergency may occur a month or so after midpoint where you need to withdraw*
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Tier Levels
Each Tier Level provides a saving strategy to gauge your accomplished monetary volume as you cross your 40-week finish line. The higher Tiers do not surmise superiority, nor the lower Tiers the opposite, just a personal mark of achievement.
Savings/Withdrawals
SOUPZ is your personal "piggy bank" for your vacation. You get back what you put in minus the W/D fee. It's kinda like a stimulus check every year. You determine the volume of that check, thereby the comfort level of your vacation.
Checks fees are the only fee assessed at your withdrawal event. All funds from fees/penalties are deposited into the SOUPZ Fee account.
A percentage of the funds collected in the fee account is allocated to the Sweepstakes account to help fill the Prize pot each year.
Members' savings are reserved in a zero-interest-bearing account, under the custody of an Irrevocable Trust, restricted to the end of duration access "by you, only". Your money is safe and cannot be taken by anyone. Follow our guidelines and reap your harvest!
There may be some who wish to deposit monthly or quarterly. Information on those deposit options is posted below. Though some may take advantage of the 6 deposits allowed per month, and may accrue more monthly, your deposit function will "lock" once you reach the maximum savable in SOUPZ Core, as well as the Secondary Division.
SOUPZ may offer higher Tiers in the future, but there are no imminent plans for now.
All communication is done by email. There is no Cust. Serv. number.
support@soupz.org or soupz.help@gmail.com]
Cancellation/Suspensions/Fees/Processes]
Two (2) Suspensions on your account (SPs) per year will result in ineligibility to claim a prize in the upcoming Sweepstakes for that current year, even if you recover.
Excluding all "EWO" requests, all early cancellations incur a 10% penalty and $5 check fee before refund. You plan can only be cancelled before the MDR due to inactivity for 1 SOUPZ QU. If you cancel your membership at your 40*WI, the remaining membership fee is deducted from your TFS, along with the normal w/d fee(s). Why not continue to save the rest of your 32*WI? You'll only withdraw more. Every little bit helps. Once your membership is paid for the current year, there is no penalty to end your marriage with us.
All fees are found in FAQ #2 on the home page. Once you reach the MDR, ($200 in deposits), you basically own a "penalty-free" account barring cancellation or self termination.
MDR - $10/20 wks.) Should you fail to pay your Membership fee within an active plan, it is paused and you have 30 days to reinstate. You must still satisfy the MDR in time, however.
You can request a full withdrawal on the "last day" of your 40th week. Your TFS is processed on the next day (or the next bus. day). Self suspensions cause a loss of possible benefits in the Core division.
The deposit feature is suspended on the last day of your 40*WI. It will resume the next day.
At the end of your 280th day, your TFS (travel funds saved) are moved to a "hold account". Your SOUPZ account will show a $0 balance until you initiate a new plan. (40*WI). If you cancel your membership, you can reinstate in 84 days (11 SOUPZ weeks).
Starting your new 40 week period, you can still make minimum deposits of $10 per week over the next 20 weeks to finalize the MDR. Or you can deposit $40 per month for 5 months and still accomplish this.
During the first half of your 40*WI, you will be notified of your progress weeks 4, 15, & 19.
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SOUPZ Timetables explained:
SM(s) - "SOUPZ MONTH(S)" / 4 seven day periods (1)
40*WI - 40 week interval / 280 days / 10 SMs / [4] 70 day quarters
MDR - midpoint deposit requirement / 140 days / 20 weeks / 5 SMs (140 div. 7)
MDR (after 1 SM) - 4 SMs / 126 days / *19 weeks (all MDRs calculated on this basis)*
STR - short-term requirement / 28 days / 4 weeks / 1 SM (four 7-day periods)
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You can save within a quarterly period by dividing your desired savings goal (minus join fee) by 4 and allow your deposits to total that amount every 70 days (10 weeks).
Example: you want to save $850: After opening your account with $50, you have an aspiring savings balance of $800. Your deposits will need to total $200 by day 70 completing the MDR in only 10 weeks. Then accumulate the same in deposits by day 140, and accrue the same deposit total by day 210, leaving you 70 days to total $200 in deposits your last quarter. You've reach your goal! May God bless you in saving! ($20 per week average)
Opening your acct. @ $40 & depositing the same amount for 5 weeks completes the MDR.
Or open your plan with $85 and $ave the same per month for the remaining 9 months! [$21.25 per week].
There are so many ways you can reach your desired goal, but remember to always saving within your means, and at your own pace. Alternative examples on the $850:
You could $ave $21 for 39 weeks joining @ $31!
Or $tart your plan with $70 & $ave $20 for 39 weeks!
So many different ways! It's your choice to save however you like!
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Daily Benefit Dollars / receive a spiral % of total accrued, completing 4 back-to-back PLANS!
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**VACATION PLANS ONLY**
Per 4 consecutive plans [40*WI] Plans [restrictions apply]
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Daily Benefit Dollars (DB$) completed every 280 days
$200-$500 <> $42* / $501 - $899 <> $35 / $900-$1299 <> $28* / $1300/up <> $25.20
<< Plan 1 = $0.15 >>> Plan 2 = $0.125 >>>> Plan 3 = $0.10 >>> Plan 4 = $0.09 >>
The payout of the 280 day total increases as you consecutively finish each plan.
Plan 1 pays 25% <> Plan 2 pays 50% <> Plan 3 pays 75% <> Plan 4 - 100% / *Reset*
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**You may assign up to 100% of your DB$ to the SPON if you so choose**
Additional Penalty Fee
25% of the DB$ % total for 1 SP recovered, or 30% for 2 SPs recovered, OR
$6 for total funds saved over $599, or $10 for funds saved over $999.
You are guaranteed the credits respective to each plan number once you complete your [40*WI]. If you cancel or take the EWO after the MDR, you will lose all daily credits.
Only upon completion of your 4th consecutive plan will you receive 100% of this benefit, with no suspensions.
Consecutive 4-Plan Example (*withdrawals are disbursed @ 40% V-Pay, & 60% travel credits[TC]*)
Your first plan chosen was "Achiever". You completed it saving $500, but had 1 SP from which you recovered. Final withdrawal results:
Amt saved - $500 / 1st plan benefit pays 25% of $42 = $10.50
Additional penalty due to 1 SP - minus 25% is -$2.63. Total paid = $7.87
$500 - $10 W/D fees + $7.87 DB$ = $497.87 available for W/D <> $299.67 TCs)
[TCs - Travel credits]
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Plan 2: "Champion". You completed it saving $675 with no SPs.
Amt. saved - $675/2nd plan benefit pays 50% of $35 = $17.50
$675 + 17.5 DB$ = $692.5 - $14.48 fees = $678.02 available for W/D
$406.82 TCs <> $271.2 V-Pay
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Plan 3: Champion again saving $800 ($20 pr. wk. avg.) with no SPs.
Amt. saved - $800 / 3rd plan benefit pays 75% of $35 = $26.25
$800 + $26.25 DB$ = $826.25 - $17.05 fees = $809.20 available for W/D
$485.52 TCs <> $323.68 V-Pay
[TCs - Travel credits]
Plan 4: Champion again. $835 with 1 SP
Amt saved - $835 / 4th plan pays 100% of $35.
$835 + $35 DB$ = $870 - $17.79 W/D fees = $852.21
Additional fee due to 1 SP (total saved over $600) -$6 = $846.21
available for W/D <> $507.73 TCs / $338.48 V-Pay
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16K Split by 300 Sweepstakes
The selection will begin on the 1st day of August each year and run 5 - 8 weeks.
The selection pot consists of all Members who satisfy these requirements:
A. Church musician - B. 18 years old at Prize draw. C. Active membership - D. STR completion of 1st plan and no more than 1 suspension on 1st or any subsequent Plan.
All Members who meet these criteria are eligible to claim a Prize. (see FAQs).
The required funds of the Sweepstakes ($15K), will be sponsored in the "1st year" totally by SOUPZ. Each subsequent year, we will sponsor 50% of the $15K. Along with a portion of funds towards the 50% coming from the "fee account", any SOUPZ member can participate in raising the 50% needed. Fees are also used to pay salaries and other operational/administrative costs.
The member donations + fee source must reach $8000 by the end of July each year, or only the alternative "Diamond Draw" will occur the next year. In that draw, the number of Winners is increased to "320", but the prize amounts will be $25 for each member. (no verification).
Total funds raised below $8000 will revert to the SOUPZ Sweepstakes account and held there until contributions total $8000. Thus, all overages default to the next drawing. All info is posted onsite.
If member donations + fee source total an additional $1000, a $20 credit is debited to 50 random eligible members, who have received a prize. Overages after the 8th week from contest start revert to the Sweepstakes account for the following year.
You can also elect to have all of your Prize amount sent to the Church of your choice! ($5 CF/pre-deducted)
Beneficiaries
Ownership of the deceased member account can be transferred, but the balance must be at $0 with funds from the previous year dispersed to the designated beneficiaries. The new account holder must deposit their own funds into the old account, and are subject to the same terms as any other SOUPZ member.
Only the "chief beneficiary" (CF) can request the transfer of ownership of a deceased member's account unless they relinquish their right to claim and extend it to the second beneficiary (if listed) on the account. Any other relative or friend of the deceased must join SOUPZ for themselves.
Final Disclaimer
Any deposit you make to SOUPZ will be subject to our W/D fee protocols. There are no exceptions. This is your piggy bank, and you will receive no more than what you save minus the required fees to withdraw.
SOUPZ reserves the right to deny membership or access to this platform to anyone for any reason. We reserve the right to terminate any active account if the member violates platform rules or fails to fulfill all required actions.
SOUPZ also reserves the right to terminate the membership of anyone without explanation or prior notice. All deposited funds will be returned minus the prescribed fees after a minimum of 5 business days.