Myadvance Terms Conditions
Myadvance Terms Conditions
Fif th Third MyAdvance® (MAV) is an expensive form of credit used to assist with short-term financial
emergencies or unexpected financial needs and is provided by Fifth Third Bank, National Association. This
document provides the terms and conditions that apply to Fifth Third MyAdvance (the “Agreement”). Please
read this Agreement carefully and contact us with any questions. By signing below and enrolling in
MyAdvance, you agree to the terms and conditions set forth in this Agreement and acknowledge your
understanding and receipt of a copy of this Agreement.
For additional information and terms applicable to your Associated Account (defined below), please review the
current version of the Deposit Account Rules & Regulations .
Billing Rights: We provide information about your rights to dispute transactions and how to exercise those
rights in this Agreement.
Definitions
• “You” and “your” means any person who has ownership rights in the Associated Account. If there is
more than one account owner, these words mean each owner separately and all owners jointly. Your
address, telephone number, and other identification information are as recorded in the Associated
Account records. You confirm that your account information is accurate, and you promise to keep it so.
• “We,” “us,” and “our” mean Fifth Third Bank, National Association, also referenced as “the Bank.”
• “Associated Account” is the consumer checking account to which Fifth Third MyAdvance is attached
and into which you receive Qualified Direct Deposits that meet the eligibility criteria specified in this
Agreement.
• “Advance” means a transaction in which you draw funds from the Fifth Third MyAdvance line of credit.
• “Advance Balance” means the amount outstanding for a particular Advance, including the related cash
advance fee assessed for the Advance, less any payments received.
• “Credit Limit” is the total amount of credit that may be advanced on your MyAdvance line of credit.
• “Direct Deposit” is an Automated Clearing House (ACH) credit, which may include payroll, pension,
person-to-person (P2P) or government payments (such as Social Security).
• “Qualif ied Direct Deposits” are Direct Deposits of $100 or more made to your Associated Account.
• “Line” – The total amount of your line of credit.
Eligibility
You will only be eligible to obtain a Fifth Third MyAdvance line of credit, following a month-end
recalculation, once you meet the following eligibility criteria:
• You must have an eligible Fifth Third Bank consumer checking account that will be associated with
the MyAdvance line of credit (the “Associated Account”.)
The following accounts are ineligible:
o Fif th Third Basic Checking® accounts.
o Fif th Third Express Banking® accounts.
o Accounts where one or more owner(s) is a minor.
o Accounts with non-personal ownership types, such as trust, conservatorship/guardianship,
custodial, and representative payee accounts.
o Accounts subject to legal process, such as a garnishment or levy, and accounts in a current
bankruptcy proceeding.
o Accounts that are currently overdrawn 15 consecutive days or more.
• All Associated Account owner(s) must be U.S. Citizens and reside in OH, KY, TN, MI, IL, FL, NC, SC,
WV, GA or IN (“Eligible States”), as determined by your permanent address on file with Fifth Third.
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Deposit Requirements
To count towards the deposit requirement, a deposit must be a Qualified Direct Deposit which is an
individual Direct Deposit of $100 or more.
• A minimum of $500 in Qualified Direct Deposits to the Associated Account during the previous 35 day
period and
• At least 35 days of Direct Deposit history.
Continued Eligibility
Deposit requirements
To count towards the deposit requirements, a deposit must be a Qualified Direct Deposit which is an
individual Direct Deposit of $100 or more.
• MAV lines of credit opened 90 days or less must have:
o A minimum of $500 in Qualified Direct Deposits to the Associated Account during the prev ious
35-day period.
• MAV lines of credit opened 91 days or more:
o A minimum of $500 in Qualified Direct Deposits to the Associated Account during the previous
35-day period and
o A three-month average of $500 or more in Qualified Direct Deposits to the Associated Account
bef ore the next Credit Limit calculation which happens on the last business day of the month.
We reserve the right, at our sole discretion, to suspend access to or close your Fifth Third MyAdvance
line of credit.
The following events will result in a suspension of access to your Fifth Third MyAdvance line of credit:
• Beginning at month 7 (181 days), if the total balance of any Advances you have taken reaches your
Credit Limit at any point in the month for three consecutive months, you will not be eligible for an
Advance for 30 days, beginning on the first business day of the following month (a “Cooling-Off Period”).
At the expiration of this Cooling-Off Period, you may once again take Advances. However, your Credit
Limit is recalculated monthly and may be different at the expiration of the Cooling-Off Period. See the
“Credit Limit” section of this Agreement for more information.
• If your Associated Account changes to an ineligible account ownership type, you will not be eligible for
an Advance.
• If any Associated Account owner moves to a state where Fifth Third MyAdvance is not offered (any state
other than the Eligible States), you will not be eligible for an Advance.
• If your Associated Account is subject to legal process, such as a garnishment or levy, you will not be
eligible for an Advance.
• If your Associated Account does not have Qualified Direct Deposits totaling $500 in the last 35 days,
you will not be eligible for an Advance.
• If the monthly Qualified Direct Deposits for MAV lines of credit opened 91 days or more do not average
$500 or more, you will not be eligible for an Advance.
• If the Associated Account is overdrawn, and your available credit is less than the amount necessary to
bring the account to at least a zero ($0) balance, you will not be eligible for an Advance.
• If the Associated Account is overdrawn on 20 or more occurrences in the current month plus one
previous calendar month or has 20 or more Overdraft Protection transfers in the current month plus one
previous calendar month, you will not be eligible for an Advance for 60 days, beginning on the first
business day of the following month.
*Once the reason for the suspension is resolved, access to your MAV line of credit will typically be
restored within one to several days. However, some restorations may not occur until the first
business day of the following month.
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The following events will result in the termination and closing of your Fifth Third MyAdvance line of
credit:
• The Associated Account is closed.
• The Associated Account is in continuous overdraft status for more than 15 consecutive days.
• The Associated Account is subject to bankruptcy.
• If the 45-day Automatic Repayment does not fully satisfy the Advance amount due.
• You violate terms of this Agreement.
Advances
You may request an Advance via online banking at 53.com, mobile banking, by calling our automated customer
service line at-800-972-3030, or in person at any Fifth Third branch located in one of the Eligible States. Each
Advance is deposited into your Associated Account.
• Any time you use your MAV line of credit, you are taking an Advance and you will establish an
Advance Balance.
• Advances may be made in any whole dollar amount, with a minimum Advance of $1.00.
• You may take multiple Advances and take Advances as often as you like.
• The total balance of any Advances you have taken may not exceed your Credit Limit.
See the “Continuing Eligibility” section for additional information.
• We calculate your MyAdvance line of credit balance by adding amounts advanced,
including applicable fees, and subtracting any payments.
Note: If the Associated Account has a negative balance, the Advance will first be used to bring the balance of
the Associated Account positive prior to any amount being available for withdrawal.
Cut-off time information: If you are in a situation where the funds in your Associated Account may be
insuf ficient to cover checks or other items that will post to your Associated Account, you may advance using
Fif th Third MyAdvance to avoid the overdraft if your Credit Limit allows for it and if your access has not been
suspended or terminated. In order for an Advance to cover any items that may post to your account that night,
the Advance must be taken before 11:59:59 p.m., ET.
Credit Limit
Your Credit Limit is automatically recalculated on the last business day of each month, based on the new
average of your Qualified Direct Deposits and updated on the following business day. The minimum Credit
Limit amount is $50, and the maximum Credit Limit amount is $1000.
Credit Limit calculation: Your Credit Limit is determined monthly, based on the age of the Associated Account,
the number of days the MyAdvance line of credit has been opened and the amount of Qualified Direct Deposits
made to the Associated Account by the last business day of the month.
MAV lines of credit opened 90 days or less must have a minimum of $500 in Qualified Direct Deposits to the
Associated Account within the previous 35-day period.
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MAV lines of credit opened 91 days or more must have a minimum of $500 in Qualified Direct Deposits to the
Associated Account during the previous 35-day period and must also average $500 or more in monthly Qualified
Direct Deposits to the Associated Account (for the last three months) prior to the next Credit Limit calculation.
The calculation is then based upon a percentage of the total amount of Qualified Direct Deposits during the
previous 35-day period or the average amount of all Qualified Direct Deposits during the past three (3) months,
whichever is less.
No matter what day of the month it is when the MAV line of credit is opened, that day becomes Day 0. Begin
counting forward from there.
To calculate your Credit Limit, start by identifying the age of the Associated Account.
Please note, Associated Accounts reaching 18 months of age, after application, will reflect the new Credit Limit once the mon th
end recalculation has been completed.
10%
From day 91 Associated Account received a minimum of $500 in Qualified Direct Deposits
through day 180 within the last 35 days.
$50 $200
Credit Limit Amount will be the lesser amount of either:
over 3 months $QDD total from past 35-day period x .10 OR
$QDD average from past three months x .10
15%
From day 181 Associated Account received a minimum of $500 in Qualified Direct Deposits
through day 365 within the last 35 days.
$50 $300
Credit Limit Amount will be the lesser amount of either:
over 6 months $QDD total from past 35-day period x .15 OR
$QDD average from past three months x .15
25%
From day 366 Associated Account received a minimum of $500 in Qualified Direct Deposits
through day 544 within the last 35 days.
$50 $500
Credit Limit Amount will be the lesser amount of either:
over 12 months $QDD total from past 35-day period x .25 OR
$QDD average from past three months x .25
35%
From day 545 Associated Account received a minimum of $500 in Qualified Direct Deposits
onward within the last 35 days.
$50 $1000
Credit Limit Amount will be the lesser amount of either:
over 18 months $QDD total from past 35-day period x .35 OR
$QDD average from past three months x .35
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The Bank reserves the right, at any time and upon notice when required by applicable law, to modify your Credit
Limit, including reducing the Credit Limit to $0, based on your use of Fifth Third MyAdvance, your handling of the
f unds in your Associated Account and other factors, at the Bank’s sole discretion. You may review your Credit
Limit on your monthly Associated Account statement.
Your Rights Under The Military Lending Act (MLA): Federal law provides important protections to members
of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of
consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual
percentage rate of 36%. This rate must include, as applicable to the credit transaction or account: The costs
associated with credit insurance premiums; fees for ancillary products sold in connection with the credit
transaction; any application fee charged (other than certain application fees for specified credit transactions or
accounts); and any participation fee charged (other than certain participation fees for a credit card account).
Oral Disclosures: In order to hear important Military Lending Act disclosures and payment information
provided in this Agreement, please call 877-899-0815.
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Promise to Pay
For value received, you agree to pay us any and all Advances and applicable cash advance fees pursuant to
this Agreement. There are three methods of repayment (“Payments”):
Important Note about Qualified Direct Deposits: A Qualified Direct Deposit is an Automated Clearing House
(ACH) credit to your Associated Account, which may include payroll, pension, person-to-person (P2P) or
government payments (such as Social Security). Any Qualified Direct Deposit amount of $100 or more that is
electronically deposited directly into your Associated Account (not through transfer between accounts or ATM
deposits), regardless of the payment sources, will be eligible to be used as repayment of the Advance Balance
at the time of the deposit.
2. Manual Payment
You may make payments to your outstanding Fifth Third MyAdvance Advance Balances at any time through
online banking at 53.com, mobile banking, by calling 800-972-3030, or in person at any Fifth Third branch.
3. Automatic Repayment
In the event that automatic repayment from Qualified Direct Deposits and any manual payments are insufficient
to pay off an Advance Balance within forty-five (45) calendar days following the date of the Advance, the Bank
will automatically debit your Associated Account for the amount of any remaining Advance Balance (“Automatic
Repayment”). If the 45th calendar day is not a business day, the automatic debit will occur at the end of the
next business day.
Important: If there are insufficient funds in your Associated Account to satisfy the Advance Balance at
the time of the Automatic Repayment, your MyAdvance line of credit (but not the Associated Account)
will be permanently closed as a result of the Automatic Payment failure.
Application of Payments
Payments are applied to your oldest outstanding Advance Balances first, followed by each subsequent
Advance in the order they were taken. In the event that any payments are insufficient to satisfy the full Advance
Balance, repayment will be applied first to the applicable cash advance fee, then to the remaining Advance
Balance.
Statements
Details of your MyAdvance Advances, including cash advance fees, Advance Balances, payments and credits,
and your Credit Limit will appear on a combined monthly statement for your Associated Account and Fifth Third
MyAdvance line of credit.
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• There has been f raud or material misrepresentation by you in connection with Fifth Third MyAdvance or
the Associated Account.
• You f ail to meet the repayment terms of Fifth Third MyAdvance.
• Your actions or inactions have adversely affected our security interest in the Associated Account.
• Your death.
• You are, or become, an executive officer of Fifth Third Bank; and your indebtedness to any bank or
number of banks, in the aggregate, exceeds the amount (in any regulated category) permitted to an
executive officer under Federal law. “Federal law” includes regulations and interpretations of federal
agencies. “Your indebtedness” includes any debts attributed to you by Federal law.
In the event you default under this Agreement, we have the rights and remedies listed below, in addition to any
other rights and remedies we have by law. These rights are in addition to the actions we may take based on
your f ailure to meet the eligibility requirements, including suspending your right to obtain Advances. Our rights
are subject to any applicable notice and right to cure. We may:
• Require you to pay all outstanding Advance Balances before the scheduled due date.
• Of f set your total outstanding Advance Balances against any account you have with us.
• Suspend your ability to take Advances under this agreement or terminate your MyAdvance line of
credit.
• Pursue any other method permitted by law to collect any outstanding debts.
Change in Terms
We reserve the right to change the terms of this Agreement at any time by providing notice to you of such
changes. Such changes may apply to any outstanding Advance Balances as well as to future Advances. B y
continuing to use Fifth Third MyAdvance or keeping your Associated Account open, you are accepting the
change in terms, or you may decline the change in terms by no longer using Fifth Third MyAdvance following
the ef f ective date of the change, or by requesting that we close your Fifth Third MyAdvance line of credit. You
may contact us at 800-972-3030 or visit a local Fifth Third Bank branch to close your Fifth Third MyAdvance line
of credit.
Governing Law
You understand that we are a f ederally chartered institution located in Ohio. This Agreement, including the fees,
shall be governed by and interpreted in accordance with federal laws that apply to federally insured depository
institutions (including without limitation 12 U.S.C. § 1831d), and, except as preempted by federal law, by the
laws of the State of Ohio where we are located. You have accepted this Agreement without regard to Ohio’s
conf lict of law principles.
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Costs of Collection
You agree to pay the costs we incur to collect this debt in the event of your default as permitted by applicable
laws. In the event we have to collect the outstanding balance on the Fifth Third MyAdvance line of credit through
your bankruptcy proceeding, voluntary or otherwise and without regard to your state of residence, these costs
will include our reasonable attorney’s fees and other related collection costs to the extent allowed by applicable
law, f or an attorney who is not our salaried employee.
Arbitration Agreement – Ef fective for accounts opened ON OR AFTER August 19, 2019.
1. NOTE: If you are a Covered Borrower under the Military Lending Act Regulations (10 U.S.C. § 987),
you are not required to submit to arbitration in the case of a dispute. If you were a Covered Borrower
under the Military Lending Act Regulations with regard to any prior agreement, this arbitration clause
does not cover any claims related to that prior agreement.
2. Claim Def inition. “Claim” is defined as any claim, dispute or controversy between you and us arising from or
relating to this Agreement, any prior agreement that you may have had with us, or the relationships resulting
f rom the Agreement or any prior agreement, including the validity, enforceability or scope of Paragraphs 1-8,
the entire Agreement, or any prior agreement. Claim includes claims of every kind and nature, including but not
limited to initial claims, counterclaims, cross- claims and third-party claims and claims based upon contract, tort,
f raud and other intentional torts, statutes, common law and equity. The term Claim is to be given the broadest
possible meaning and includes, by way of example and without limitation, any claim, dispute or controversy that
arises f rom or relates to: (a) the line of credit described by the Agreement or any prior agreement; (b) any
balances related to the line of credit; (c) advertisements, promotions or oral or written statements related to the
line of credit or the terms of financing; and/or (d) your use of MyAdvance.
3. If you are a Covered Borrower, you and we will only arbitrate if you choose to arbitrate. We cannot elect to
arbitrate a Claim with a Covered Borrower. If you are not a Covered Borrower, you and we each agree that
each party has the right to elect to have any Claim arbitrated instead of litigated in court under the
circumstances and procedures set forth below. If arbitration is elected, any Claim will be resolved pursuant to
this provision and the American Arbitration Association (“AAA”) rules and procedures (“Rules”) in effect at the
time the Claim is filed. (If for any reason the AAA is unable or unwilling or ceases to serve as arbitration
administrator, another nationally recognized arbitration organization utilizing similar rules and procedures will be
substituted by us.)
4. With respect to Claims covered by this provision, if you have asserted a Claim in a lawsuit in court, you may
elect arbitration with respect to any Claim subsequently asserted in that lawsuit by any other party or parties. If
we have asserted a Claim in a lawsuit in court, we may elect arbitration with respect to any Claim subsequently
asserted in that lawsuit by any other party or parties, only if no other party is a Covered Borrower.
5. IF ARBITRATION IS CHOSEN WITH RESPECT TO A CLAIM, NEITHER YOU NOR WE WILL HAVE THE
RIGHT TO LITIGATE THAT CLAIM IN COURT OR HAVE A JURY TRIAL ON THAT CLAIM, OR TO ENGAGE
IN PREARBITRATION DISCOVERY EXCEPT AS PROVIDED FOR IN THE AAA RULES. FURTHER, YOU
WILL NOT HAVE THE RIGHT TO PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS
OF CLAIMANTS PERTAINING TO ANY CLAIM SUBJECT TO ARBITRATION. EXCEPT AS SET FORTH
BELOW, THE ARBITRATOR’S DECISION WILL BE FINAL AND BINDING. NOTE THAT OTHER RIGHTS
THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO NOT BE AVAILABLE IN ARBITRATION.
6. The AAA Rules and forms of the AAA may be obtained by calling 800-778-7879 or by visiting the AAA’s Web
site at www.adr.org. All Claims must be filed at any AAA office. There will be no authority for any Claims to be
arbitrated on a class action basis. Any arbitration hearing that you attend will take place in the federal judicial
district in which you reside. At your written request, we will temporarily advance up to $500 towards the filing,
administrative and/or hearing fees for any Claim that you may file against us after you have paid an amount
equivalent to the fee, if any, for filing such a Claim in state or federal c ourt (whichever is less) in the judicial
district in which you reside. At the conclusion of the arbitration, the arbitrator will decide who will ultimately be
responsible for paying the filing, administrative and/or hearing fees in connection with the arbitration. Unless
inconsistent with applicable law, each party will bear the expense of that party’s attorneys’, experts’ and witness
f ees, regardless of which party prevails in the arbitration. This provision is made pursuant to a transaction
involving interstate commerce and will be governed by the Federal Arbitration Act, 9 U. S. C. §§ 1 et seq., as
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amended (“FAA”). The arbitrator will apply applicable substantive law consistent with the FAA and applicable
statutes of limitations and will honor claims of p rivilege recognized at law. Judgment upon the award rendered
by the arbitrator may be entered in any court having jurisdiction. The arbitrator’s decision will be final and
binding, except for any right of appeal provided by the FAA and except that, if the amount in controversy
exceeds $100,000, any party can appeal the award to a three-arbitrator panel administered by the AAA, which
will reconsider de novo any aspect of the initial award requested by the appealing party. The decision of the
panel will be by majority vote. The costs of such an appeal will be borne by the appealing party regardless of
the outcome of the appeal.
7. As solely used in this Arbitration Agreement Section, Paragraphs 1-8, the terms “we” and “us” will for all
purposes mean Fifth Third Bank, National Association, all of its parents, wholly- or majority-owned subsidiaries,
af f iliates, predecessors, successors and assigns, and all of their independent contractors, agents, employees,
directors and representatives. Paragraphs 1-8 will survive termination of your Account, as well as the
repayment of all outstanding amounts incurred in connection with this Agreement. If any portion of this provision
is deemed invalid or unenforceable under any law or statute consistent with the FAA, it will not invalidate the
remaining portions of this arbitration provision or the Agreement. In the event of a conflict or inconsistency
between the AAA Rules and this arbitration provision, this provision will govern.
8. No Waiver by Us. We will not lose any of our rights if we delay taking any action for any reason or if we
choose, at any one time or more than one time, to waive the enforcement of any right we have under this
Agreement. If this happens, we may always enforce our rights later and take actions when we choose and
without advance notice to you, to the extent allowed by the Agreement and applicable law. You do not have to
receive notice from us of any waiver, delay, demand or dishonor.
You must notify us of any potential errors in writing. You may call us, but if you do, we are not required to
investigate any potential errors and you may have to pay the amount in question.
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While we investigate whether or not there has been an error: We cannot try to collect the amount in question, or
report you as delinquent on that amount; The charge in question may remain on your statement; While you do
not have to pay the amount in question, you are responsible for the remainder of your balance; We can apply
any unpaid amount against your credit limit.
• If we made a mistake: You will not have to pay the amount in question if charged in error, or any cash
advance fees related to any questioned amount charged in error.
• If we do not believe there was a mistake: You will have to pay the amount in question, along with
applicable cash advance fees. We will send you a statement of the amount you owe and the date
payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
o If you receive our explanation but still believe your bill is wrong, you must write to us within 10
days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without
also reporting that you are questioning your bill. We must tell you the name of anyone to whom we
reported you as delinquent, and we must let those organizations know when the matter has been
settled between us. If we do not follow these rules, you do not have to pay the first $50 of the
amount you question even if your bill is correct.
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Acknowledgement:
I have read and acknowledge the Agreement above and accept the Terms and Conditions for use of the
MyAdvance line of credit, including the Arbitration Agreement.
I authorize Advances and related cash advance fees to be automatically repaid from my NEXT Qualified Direct
Deposit(s) of $100 or more. If sufficient Qualified Direct Deposit(s) of $100 or greater do not occur within 45
days from the date of the Advance and an Advance Balance remains, then I authorize and understand that the
Associated Account will automatically be debited for the outstanding Advance Balance.
I understand that any automatic repayment of Advance Balances reduces the amount that would otherwise be
available to me in my Associated Account for other bills and expenses. Direct Deposit payments are
Automated Clearing House (ACH) credits, which may include payroll, pension, person-to-person (P2P) or
government payments (such as Social Security).
I understand that, in order to remain eligible for a Fifth Third MyAdvance line of credit (90 days or newer), the
Associated Account must have Direct Deposits of $500 (or more) in the last 35-day period. Once the
Associated Account is 91 days or older and goes through the next month end recalculation, Qualified Direct
Deposits of $500 (or more) in the last 35 days and at least average $500 (or more) over the last three (3)
months are required. The Credit Limit calculation is then based upon the lesser of the two values.
I understand that, beginning month 7 (181 days), if the total balance of any Advances I take reaches my Credit
Limit at any point in the month for three (3) consecutive months, I will not be eligible for an Advance for 30
days, beginning the first business day of the following month (a “Cooling-Off Period”). I f urther understand that
f ailing to abide by the rules in the Continued Eligibility section may result in the suspension or termination of
my MyAdvance Line of Credit.
I agree that I have read and understand these terms and conditions, including but not limited to the above
repayment and qualification statements, as well as the Arbitration Agreement.
Copyright © 2022 Fifth Third Bank, National Association. Member FDIC. Equal Housing Lender. Fifth Third and Fifth Third Bank are
registered service marks of Fifth Third Bancorp.
LIDN 2719 – Revised on 9/29/2022
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