Bank Feed Terms

BANK FEED TERMS OF USE

1. Consideration

a. In consideration for your agreement to be legally bound by these Terms and Conditions, Venture 5 Group Pty Ltd (trading as CashnGo Australia) (we or us) agrees to consider your application for credit.

b. Nothing in these Terms and Conditions constitutes an agreement by us to provide credit to you.

2. Our Authority

a. You agree that we may perform the following activities in relation to your Bank Account:

    i. collect and store the login credentials for your Internet Banking Facility;

    ii. log in to your Internet Banking Facility as your agent using the login credentials you provide to us;

    iii. access information about your Bank Account available in your Internet Banking Facility, including but not limited to:

        A. account details – BSB, account number

        B. account balances

        C. transaction history

        D. account statements

        E. accountholder names

        F. accountholder telephone numbers

        G. accountholder email addresses, and

        H. accountholder addresses

    iv. store information about your Bank Account on our information systems for as long as reasonably necessary to enable us to carry on our business, and

    v. use information obtained about your Bank Account to decide whether or not to provide credit to you.

b. You acknowledge and agree that we act as your agent in performing the activities in clause 2(a).

c. You agree to provide us with your Internet Banking Facility login credentials to enable us to perform the activities in clause 2(a).

d. We will store your login credentials securely in an encrypted format. We will take reasonable steps to ensure that your login credentials will be protected from misuse, interference and loss and from unauthorised access, modification or disclosure.

e. Where we decide to provide credit to you, you may, at any time, revoke the authority given to us under this clause 2 to the extent the authority permits us to log in to (and access information about) your Bank Account for the purposes of recovering any outstanding amounts that you fail to pay on the scheduled repayment dates. You may do so via our customer portal or by phoning our customer contact centre, and where you do so we will not exercise our rights under the authority for those purposes unless and until you provide positive consent to us doing so.

3. Warranties

a. You warrant to us that:

    i. you are entitled to conduct transactions on any Bank Account that you provide information to us about

    ii. you are entitled to access any Internet Banking Facility for which you supply login credentials to us

    iii. by agreeing to be bound by these Terms and Conditions and/or acting pursuant to these Terms and Conditions, you are not breaching any contract with another person that you are party to, and

    iv. any information that you provide to us under these Terms and Conditions is accurate and complete.

b. You make the warranties in clause 3(a) immediately before agreeing to be bound by these Terms and Conditions and continuously at all times whilst we are providing the Basiq Service to you.

c. You acknowledge that we act in reliance on the warranties in clause 3(a) in entering into this contract with you.

4. Term and termination

a. You agree to be bound by these Terms and Conditions from the time that you provide the login credentials to your Internet Banking Facility to us until the later of the following:

    i. we have decided to not provide credit to you, or

    ii. we have ceased holding information about your Bank Account

    iii. we terminate this contract in accordance with clause 4(b).

b. We may terminate this contract at any time by giving you notice that we have destroyed all information about your Bank Account and your Internet Banking Facility login credentials. Termination under this clause 4(b). takes effect immediately after we give you the notice referred to in the immediately preceding sentence.

c. All rights of termination provided under this clause 4 are in addition to any rights of termination available under law.

5. Confidentiality and intellectual property

a. You retain ownership of any information that you supply to us in connection with these Terms and Conditions.

b. However, you grant to us a perpetual, irrevocable and royalty-free licence to use the information for our benefit in connection with:

    i. providing products and services (including credit) to you

    ii. performing our obligations under these Terms and Conditions

    iii. maintaining the security of information held by us in connection with these Terms and Conditions

    iv. developing and testing our products and services, and

    v. performing our obligations under contracts entered into with other persons,

including the right to copy, distribute, transit, reproduce, edit, translate and reformat the information and to sub-license any person to do the same.

c. Nothing in these Terms and Conditions gives or transfers to you any interest in any of our intellectual property or goodwill.

d. You must not take action which could adversely affect the value of our intellectual property rights.

e. Notwithstanding any other clause in these Terms and Conditions, obligations under this clause 5 continue in force after termination of this contract.

6. Changes to these Terms and Conditions

a. We may amend these Terms and Conditions at any time by providing you with one week prior notice of the change.

b. We need not give prior notice of any change to these Terms and Conditions if we reasonably believe that the change will confer a benefit on you or lessen your obligations under these Terms and Conditions.

c. We must act reasonably in exercising our rights under clause 6(a). we are taken to be acting reasonably if we amend these Terms and Conditions:

    i. to comply with any change or anticipated change in any applicable law, code of practice or regulatory guidance

    ii. to reflect any decision of a court or tribunal

    iii. to reflect a change in our systems or procedures, including for security reasons

    iv. in a manner that confers a benefit or lessens our obligations under these Terms and Conditions, or

    v. to make the provisions of these Terms and Conditions clearer.

7. General

7.1 Notices

a. We may provide any notice, demand, consent or other communication required or permitted to be made in writing under these Terms and Conditions by:

    i. sending it to an email address that we reasonably believe is controlled by you, or

    ii. publishing it on our website.

b. You are taken to have received any notice or demand given in accordance with clause 7.1(a):

    i. when it is delivered to your email inbox, or

    ii. one business day after it is published on our website.

7.2 Privacy

a. You agree that we may collect and deal with personal information about you in accordance with the Privacy Act, any Privacy Policy we have in force from time to time and any Collection Statement that we have provided to you.

7.3 Waiver

a. A right under these Terms and Conditions may only be waived in writing, signed by the party waiving the right.

b. A failure to exercise, or delay in exercising, a right does not operate as a waiver of the right or otherwise prevent future exercise of the right.

c. A waiver of a right on one or more occasions does not operate as a waiver of that right if it arises again.

d. The exercise of a right does not prevent any further exercise of that right or any other rights.

7.4 Assignment

a. You may not assign your rights under these Terms and Conditions without our prior written consent, which we must not unreasonably withhold.

b. We may assign our rights under these Terms and Conditions to any related body corporate of ours or to any purchaser of our business. We will notify you as soon as practicable if we assign our rights under these Terms and Conditions.

7.5 Governing law and jurisdiction

a. These Terms and Conditions are governed by the laws in force in the State of New South Wales.

b. You agree to submit to the exclusive jurisdiction of the courts of New South Wales, including any courts exercising appellate jurisdiction from the courts of New South Wales, in respect of any disputes arising in connection with these Terms and Conditions.

8. Definitions and interpretation

a. In this agreement:

    i. Bank Account means a deposit account, purchased payment facility or other facility held by you from which electronic payments can be made;

    ii. Collection Statement means any document given by us providing information in relation to our collection, use and disclosure of personal information collected about you;

    iii. Internet Banking Facility means a facility, accessible via the internet, through which you can access the transaction history of, obtain statements for or make payments from your Bank Account;

    iv. Privacy Policy means our Privacy Policy, if any, maintained in accordance with Australian Privacy Principle 1.3;

    v. these Terms and Conditions means the contract between you and us, the terms of which are set out in this document; and

    vi. this contract means these Terms and Conditions.

b. A reference to:

    i. any thing includes the whole and each part of it;

    ii. a document includes any variation or replacement of it;

    iii. law means common law, principles of equity, and laws made by parliament (and laws made by parliament include regulations and other instruments under them, and consolidations, amendments, re-enactments or replacements of them);

    iv. headings are for convenience only and do not affect the interpretation of these Terms and Conditions;

    v. the words including, such as or for example when introducing an example do not limit the meaning of the words to which the example relates to that example or examples of a similar kind;

    vi. the word person includes an individual, a firm, a body corporate, an unincorporated association or an authority; and

    vii. the singular includes the plural and vice versa.

c. The following interpretation rules apply to this agreement.

    i. A provision of these Terms and Conditions must be read down if it is able to be read down and:

        A. the provision, or these Terms and Conditions, is void, voidable or unenforceable if it is not read down, and

        B. the provision, or these Terms and Conditions (as applicable), will not be void, voidable or unenforceable if the provision is read down.

    ii. A provision of these Terms and Conditions must be severed if, despite being read down in accordance with clause 8(c)(i), the provision or these Terms and Conditions is void, voidable or unenforceable if the provision is not severed.

    iii. The other provisions of these Terms and Conditions remain in full effect despite the reading down or severance of any provision in accordance with this clause 8(c).