BM Technologies, Inc.
FIRST AMENDMENT TO DEPOSIT PROCESSING SERVICES AGREEMENT, DATED AS OF NOVEMBER 7
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<TYPE>EX-10.1
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<FILENAME>ea168232ex10-1_bmtech.htm
<DESCRIPTION>FIRST AMENDMENT TO DEPOSIT PROCESSING SERVICES AGREEMENT, DATED AS OF NOVEMBER 7, 2022, BY AND BETWEEN BM TECHNOLOGIES, INC. AND CUSTOMERS BANK
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 2.15pt; margin-left: 0; text-align: center"><B><U>FIRST AMENDMENT TO DEPOSIT PROCESSING
SERVICES AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>THIS
FIRST AMENDMENT TO DEPOSIT PROCESSING SERVICES AGREEMENT </B>(&quot;Amendment&quot;) is entered into as of this 7th day of November,
2022 (&quot;Effective Date&quot;) by and between Customers Bank (&quot;Bank&quot;), a Member of the Federal Reserve System with its principal
place of business at 40 General Warren Blvd., Suite 200, Malvern, PA 19355, and BM Technologies, Inc. (&quot;BMTX&quot;), a Delaware
corporation with its principal place of business at 201 King of Prussia Road, Suite 350, Radnor, PA 19087. BMTX and Bank are hereinafter
referred to, collectively, as the &quot;Parties,&quot; and individually each as a &quot;Party.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-left: 0pt; text-indent: 0pt; text-align: justify">Bank
provided written notice to BMTX of non-renewal pursuant to Section 7.1 of the Deposit Processing Services Agreement within the requisite
180 day prescribed timeframe for notice prior to renewal. The Parties desire to work together to effectuate the successful and timely
Transfer of Depositor Accounts under Section VIII of the Deposit Processing Services Agreement (&ldquo;Agreement&rdquo;) in the best
interests of the consumers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-left: 0pt; text-indent: 0pt; text-align: justify">BMTX
issued a request for proposal to several prospective FDIC insured sponsor banks to receive the transfer of the Depositor Accounts. After
receiving robust expressions of interest from several qualified FDIC insured sponsor banks, BMTX as of the Effective Date of this Amendment,
is negotiating the terms of a definitive deposit processing services agreement with a new sponsor bank but, will likely not have the
transfer of the Depositor Accounts to the new sponsor bank completed by December 31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">NOW,
THEREFORE, in consideration of the mutual covenants and representations contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties hereto agree as follows:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="padding-right: 0.05in">Notwithstanding the Bank&rsquo;s provision of notice of non-renewal and the requirements of Section
7.1 of the Agreement, the Parties agree that the Agreement shall extend until the earlier of: 1) BMTX&rsquo;s execution of a definitive
agreement with a new sponsor bank to receive the transfer of the Depositor Accounts and the successful completion of the transfer or 2)
six months from December 31, 2022.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.25pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="padding-right: 0.05in">Effective January 1, 2023, Schedule 3.2 of the Agreement shall be amended by deleting Section II.(ii)
in its entirety and the two paragraphs immediately following Section II.(ii) of Schedule 3.2 of the Agreement.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="padding-right: 0.05in">Notwithstanding Paragraph 2, <I>supra</I>, the Parties agree that, pursuant to that certain Private
Label Banking Program Agreement by and between the Bank and T-Mobile USA, Inc., dated February 24, 2017, as amended (the &ldquo;PLBPA&rdquo;),
the Bank&rsquo;s obligation to use Durbin Exemption rates in calculating and paying the Net Interchange Fees (each as defined under the
PLBPA) under the PLBPA shall continue until the earlier of (i) the Bank no longer holding the T-Mobile Customer accounts and issuing the
Cards (each as defined under the PLBPA) or (ii) February 24, 2023.</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="padding-right: 0.35in">Other than the foregoing changes to the Agreement, the remainder of the Agreement shall remain in full
force and effect as originally executed by the Parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IN
WITNESS WHEREOF, the Parties have entered into this Agreement as of the Effective Date.</FONT></P>

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  <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CUSTOMERS BANK</B></FONT></TD>
  <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD STYLE="width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BMTX, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: <U>/s/ Carla Leibold</U></FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: <U>/s/ Robert Ramsey</U></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: <U>Carla Leibold</U></FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: <U>Robert Ramsey</U></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: <U>EVP &ndash; CFO</U></FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
  <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;Title: <U>Chief Financial Officer</U></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10.45pt 0 0 0.1in">&#9;</P>

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