Terms and Conditions
Date of last update: 31 August 2018
Vested Tech Pty Ltd ACN 623 488 102 trading as "My Vested" ("MyVested", "we" or "us") provides a cryptocurrency micro-investment platform through which we provide cryptocurrency exchange services and users can buy and sell cryptocurrency ("Services"). To access the Services a user must create an account ("MyVested Investment Account") on the MyVested website located at www.myvested.com ("Website") or the MyVested mobile phone app ("App").
Please carefully read these terms. By creating and maintaining a MyVested Investment Account and/or accessing and using the Website or App, you agree to be bound by these terms. If you do not agree with these terms, you must immediately cease use of the Services, Website and App.
We can unilaterally amend these terms at any time by posting the updated terms on our website. When we change these terms, we will also update the "Date of last update" at the top of this page. It is your responsibility to ensure you are familiar with any changes. Your continued use of your MyVested Investment Account and the Services will constitute acceptance of any changes to the terms. We will endeavour to notify you of any changes to our fees and charges at least 5 business days before the changes take effect.
Until you establish a MyVested Investment Account, these terms do not constitute an agreement by MyVested to provide Services to you. Nonetheless, your use of the Website or App, until that point in time, will remain subject to these terms.
- The information provided in the course of us providing the Services to you or on our Website or App (including any projected values shown, which are hypothetical in nature) is intended to serve only as a general overview and does not constitute the provision of financial product or investment advice. The information provided is objectively ascertainable information, is not tailored to your personal circumstances and is not intended to be comprehensive or complete. Before acting on any information we provide to you, including on our Website or App, you should consider the appropriateness of the information in light of your objectives, financial situation and needs, and obtain professional financial, investment, tax, legal, accounting and other advice. Whilst we do our best to ensure the content is current and accurate, we cannot guarantee its currency and accuracy.
- You acknowledge and agree that we provide a service and act as your agent to buy and sell cryptocurrencies on your behalf. Cryptocurrency is not legal tender and its legal status is uncertain. Trading in digital or virtual commodities, goods or products is risky. They are not backed by a central bank, government, or institution; increasing the volatility of the asset class. As with any investment, especially cryptocurrency investments, the value of your holding will vary and could potentially become worthless. The price or value of cryptocurrency can change rapidly and may fall/decrease significantly and without warning. If unsure, you should obtain independent advice.
- By using our Services, your MyVested Investment Account, Website or App, you represent and warrant that you understand the risks associated with cryptocurrency and digital or virtual commodities, goods or products.
To be eligible for a MyVested Investment Account, you must:
- be an Australian citizen or resident;
- be at least eighteen (18) years of age;
- not be subject to any targeted financial sanctions, travel bans or counter-measure under Australian sanctions, anti-money laundering or other laws;
- be capable of entering into a legally binding agreement; and
- not be acting on behalf of an undisclosed principal or third-party beneficiary (if acting as an individual and operating an individual account).
- By creating a MyVested Investment Account and/or using the Services you warrant that you satisfy all eligibility requirements set out in these terms.
- If you cease to satisfy all of the eligibility requirements set out in these terms, you must immediately cease to use the Services and notify us.
- We reserve the right in our absolute discretion to refuse any application for a MyVested Investment Account for any reason we determine. We do not need to provide you with any reason for our refusal.
- To use the Services, you must establish and maintain a MyVested Investment Account.
To establish a MyVested Investment Account, you must provide us with the following:
- identification and contact details, including name, address, email address and date of birth;
- identification and contact details of your beneficial owners (if applicable);
- any information or documentation we request that is required by us to verify your identify in accordance with our obligations under anti-money laundering laws and to otherwise comply with our legal obligations;
- your selected cryptocurrency portfolio type from the portfolio options provided by us from time to time;
- your selected contribution type, as set out in section 21;
- a direct debit authority for an Australian bank account, credit card or debit card, in your name, from which your contributions and fees will be debited ("Funding Account");
- if you elect to use Round Up Deposits (see section 21.c), in addition to the Funding Account, a direct debit authority for an Australian bank account or debit card, in your name, from which your contributions will be calculated based on the day-to-day transactions you make using this account and will also be debited from this account ("Transaction Account"); and
- any such other information requested by us.
- Your selected cryptocurrency portfolio type is subject at all times to the cryptocurrency that we make available for investment through the Services, as determined in our absolute discretion from time to time.
- You must ensure at all times that we have a valid Direct Debit Request from you under which we may debit amounts from the Funding Account and/or Transaction Account (if applicable) that we are entitled to receive or deduct under these terms ("Direct Debit Authority"). If you cancel or suspend our Direct Debit Authority you must at the same time elect a new Funding Account and/or Transaction Account (if applicable) and execute a Direct Debit Request with respect to the new Funding Account and/or Transaction Account (if applicable) which will be on the terms set out in the Direct Debit Request Service Agreement.
- It is your responsibility to protect your password to your MyVested Investment Account. You must not disclose your password to any third party.
- You are responsible for any use or transactions conducted on your MyVested Investment Account, including any unauthorised use of your MyVested Investment Account. Any unauthorised use of your account must be notified to us immediately.
- You may not have or maintain more than one (1) MyVested Investment Account.
- You must not allow any other individual to use the Services or your MyVested Investment Account on your behalf.
You may contribute funds into your MyVested Investment Account by:
- electing to make recurring (weekly, fortnightly or monthly) deposits from your Funding Account, of an amount specified by you, to your MyVested Investment Account ("Recurring Deposits");
- electing to make a lump sum deposit from your Funding Account, of an amount specified by you, to your MyVested Investment Account from time to time; or
- electing to make ongoing "round-up" deposits which are based on (manually or automatically) rounding up each transaction you make using your Transaction Account to the nearest dollar. Once you have reached the minimum deposit amount of $5 AUD, these funds are transferred to your MyVested Investment Account ("Round Up Deposits").
- Contributions to your MyVested Investment Account are subject to a minimum deposit amount per transaction of $5 AUD and a maximum daily deposit amount of $8,000 AUD.
- Contributions to your MyVested Investment Account will be automatically invested into your selected cryptocurrency portfolio within 1 business day of the amount clearing.
- You cannot reverse or cancel a contribution once you have authorised the transaction. However, you may change your election for future Recurring Deposits or Round Up Deposits.
- Notwithstanding any other provision of these terms, we have the discretion to refuse to enter into, or cancel a transaction you have initiated to or from your MyVested Investment Account for any reason, even if you have confirmed that you wish to proceed with the transaction ("Refused Transaction").
- We will not be liable for any Loss you incur as a result of a Refused Transaction.
- You may be liable to us for an administration charge that is incurred in respect of a Refused Transaction and you authorise us to deduct the administration charge from the amount which we credit to your MyVested Investment Account.
- Your MyVested Investment Account must have a credit balance at all times after the date of your first contribution to your MyVested Investment Account. There is no ability to overdraw your MyVested Investment Account.
If you have selected an automated portfolio (or custom portfolio and you have elected automatic rebalancing), you grant to us standing instructions to rebalance your MyVested Investment Account, which includes buying and selling digital currencies on your behalf, to maintain the original distribution of your selected portfolio:
- where a contribution is made to your MyVested Investment Account;
- where a withdrawal is made from your MyVested Investment Account;
- on a monthly basis; and
- where market movements vary the original distribution of your selected portfolio by more than 25%.
- If you have selected a custom portfolio for your MyVested Investment Account, you may request to change the cryptocurrency or weighting making up the portfolio at any time, subject to having no more than five different cryptocurrencies in your custom portfolio at any time.
- You may request to change your selected portfolio at any time. We will action your request promptly unless there are insufficient funds in your MyVested Investment Account, or pending withdrawals which prevent, or delay us from doing so. Once these have been resolved the request will be processed.
You authorise us to liquidate the cryptocurrency assets held in your MyVested Investment Account, in full or in part, at any time in the event of a technical failure in the underlying blockchain or other similar failure, to mitigate against catastrophic loss ("Liquidated Assets"). In the event of such liquidation:
- if you have selected an automated portfolio, the funds from the Liquidated Assets will be invested in the cryptocurrency that has the next highest market capitalisation (after the cryptocurrencies currently held in the portfolio); or
- if you have selected a custom portfolio, we will return the funds from the Liquidated Assets from your MyVested Investment Account to your Funding Account.
- You may withdraw some or all of your account balance from your MyVested Investment Account at any time by making such an election in your MyVested Investment Account through the App or Website ("Withdrawal Request").
Upon receiving a Withdrawal Request, we will:
- dispose of all or part of the cryptocurrency in your MyVested Investment Account; and
- return the dollar value of your portfolio to your Funding Account, as at the date of the disposal, within five (5) business days from the date we receive your Withdrawal Request, subject to any delays caused by network delays, exchange performed wallet maintenance or otherwise outside of our control. The amount received may vary from the last total portfolio value displayed in your MyVested Investment Account due to market movements and the time of sale.
- Prior to actioning a Withdrawal Request, we have the right to deduct some or all of the account balance of your MyVested Investment Account towards the repayment of money you owe to us.
- If we are unable to transfer the funds to the Funding Account for any reason, we will promptly contact you.
- We will charge you the fees set out on the "MyVested Fees" page of the Website, as amended from time to time in accordance with section 5.
- We will charge a margin to provide you with the Services. All cryptocurrency transactions undertaken by us in providing you with the Services in accordance with these terms will be bought/sold at a conversion rate that is different from the current market exchange rate ("Effective Conversion Rate"). The Effective Conversion Rate may vary between transactions. The Effective Conversion Rate is determined by us in our absolute discretion and will be notified to you on the Website and/or App.
Subject to these terms:
- we, together with our licensors, own and control all the copyright and other intellectual property rights in the Services, MyVested Investment Account our Website and App and the material thereon (other than third-party content); and
- all the copyright and other intellectual property rights in our Services, MyVested Investment Account, Website and App and the material thereon are reserved.
- Nothing in these terms constitutes a transfer of any intellectual property rights.
- Subject to these terms, we grant you a revocable, non-exclusive, non-transferable, personal and limited licence to use the Services, MyVested Investment Account, Website and App from time to time for the sole purpose of accessing the Services.
- You must not edit or otherwise modify any material on our Website or App.
You must not:
- republish material from our Website (including republication on another website) or App;
- sell, rent or sub-licence material from our Website or App;
- show any material from our Website or App in public;
- exploit material from our Website or App for a commercial purpose; or
- redistribute material from our Website or App,
- without the prior written consent of MyVested or the relevant third-party licensor.
- To enable the synchronization of the Services across multiple devices, you grant us with an irrevocable licence to distribute copy, store, cache and transmit your information and data.
You must not:
- use our Services, your MyVested Investment Account, Website or App in any way or take any action that causes, or may cause, damage to the Services, MyVested Investment Account, Website or App or impairment of the performance, availability or accessibility of the Services, MyVested Investment Account, Website or App;
- use our Services, your MyVested Investment Account, Website or App in any way that is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity;
- use our Services, your MyVested Investment Account, Website or App to copy, store, host, transmit, send, use, publish or distribute any material which consists of (or is linked to) any spyware, computer virus, Trojan horse, worm, keystroke logger, rootkit or other malicious computer software;
- conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to our Services, your MyVested Investment Account, Website or App without our express written consent;
- access or otherwise interact with our Services, your MyVested Investment Account, Website or App using any robot, spider or other automated means; or
- use data collected from our Services, your MyVested Investment Account, Website or App for any direct marketing activity (including without limitation email marketing, SMS marketing, telemarketing and direct mailing);
- access our Website, App, your MyVested Investment Account or the Services by any means other than the interfaces we provide for use in accessing them;
- create another MyVested Investment Account after we have terminated your use of the Services;
- act in a way which breaches these terms; and
- engage in any action or practice that reflects poorly on us or otherwise disparages or devalues our reputation or goodwill.
- You must comply with any procedures or directions that we post on the Website from time to time with respect to the use of our Services.
- You must ensure that the information you provide to us is adequate, complete, current and not misleading.
You acknowledge that when you apply for a MyVested Investment Account, you:
- consent to receiving any and all documents, information and other communications from us electronically via the Website, App, or to your nominated email;
- will use the Website or App for all transactions in respect of your MyVested Investment Account;
- represent that your Funding Account is not now, or ever, a credit card, overdraft amount or any other borrowed money; and
- may not, by investing through an MyVested Investment Account, have all the rights and entitlements that would otherwise be available to you as a retail investor if you invested in digital currency directly. These rights and remedies include (but are not limited to) cooling off rights and withdrawal rights in respect of investments.
Without limiting our rights, we may, from time to time and without seeking your consent or providing you with notice:
- establish general practices and limits concerning the use of the Services which you will be bound to comply with;
- change, suspend, discontinue any aspect of our Services (or any Service features);
- restrict access to all or part of any Services;
- investigate any suspicious activity or transaction or any suspected breach by you of these terms;
- report suspected unlawful activity to any appropriate person or government body or authority or provide any appropriate person or government body or authority with such assistance and information (including your personal information) which we consider appropriate or which we are requested to provide.
- While you hold a MyVested Investment Account, we may from time to time offer promotions to you (each a "MyBonus Promotion"). A MyBonus Promotion will be governed by these terms and any additional terms and conditions made available on the "MyBonus" page of the Website and/or App (‘Promotion Terms").
- By participating in a MyBonus Promotion, you agree to be bound by the Promotion Terms.
- Each MyBonus Promotion runs for a limited term only, as set out in the relevant Promotion Terms (the "Promotion Term").
- Notwithstanding any other provision of the Promotion Terms, MyVested may terminate, cancel or amend all or any portion of any MyBonus Promotion at any time by amending the Promotion Terms. Advance notice will be provided (via the "MyBonus" page within the Website and/or App) where possible. However, you acknowledge that the MyBonus Promotion are offered by Third Party Retailers and therefore there may be circumstances where MyVested is unable to provide advance notice of such changes.
- During the Promotion Term of a MyBonus Promotion, if you make an eligible purchase ("Eligible Purchase") from a specified third party retailer ("Third Party Retailer") using your Linked Account or Transaction Account (unless other payment details are specified in the Promotion Terms for the MyBonus Promotion), the Third Party Retailer will contribute an amount of money ("Customer Benefit") to your MyVested Investment Account as set out in the Promotion Terms for that MyBonus Promotion, provided you meet all eligibility requirements as set out in the Promotion Terms.
- The Promotion Terms for a MyBonus Promotion will set out details of what constitutes an Eligible Purchase for that MyBonus Promotion. An Eligible Purchase may, for example, be a purchase of a particular product from the Third Party Retailer, a purchase made from the Third Party Retailer via a particular sales channel (eg from a particular website), a purchase over a particular value from the Third Party Retailer or some other kind of specified category of purchase. An Eligible Purchase may be limited to purchases that occur in certain fact scenarios only (for example, only in certain locations). You may therefore not be eligible for all MyBonus Promotions. You should therefore carefully check the Promotion Terms for the MyBonus Promotion to determine whether you are eligible.
- The Promotion Terms for a MyBonus Promotion will specify the amount of the Customer Benefit, or the means by which that amount will be calculated, and any other relevant details regarding payment of Customer Benefits. The Customer Benefit will be deposited into your MyVested Investment Account and may not be received by you in cash or in any other form. MyVested will receive all such Customer Benefits paid by the Third Party Retailer on your behalf and, once a Customer Benefit is received from the Third Party Retailer, will process such payment into your MyVested Investment Account as soon as reasonably practicable. Please be aware that there will be a delay between when you make the Eligible Purchase, and when the Customer Benefit appears in your MyVested Investment Account.
- The Customer Benefit is paid by the Third Party Retailer, not by MyVested and MyVested has no control over the Third Party Retailer's payment of this amount. To the full extent permitted by law, MyVested excludes all liability in connection with any delay or failure by the Third Party Retailer to pay you any Customer Benefit.
- MyVested is not a party to the contract formed between you and the Third Party Retailer for the Eligible Purchase, and to the full extent permitted by law hereby excludes all liability in connection with Eligible Purchases or any other transaction or engagement between you and the Third Party Retailer. In addition, to the full extent permitted by law, MyVested excludes all liability that arises if you are unable to participate in a MyBonus Promotion due to an issue encountered with the Third Party Retailer (such as a fault or issue with the Third Party Retailer's payment system, or a withdrawal from the MyBonuse Promotion by the Third Party Retailer).
- To the extent that you believe that a Third Party Retailer has failed to pay you a Customer Benefit that you are entitled to, you should notify MyVested on firstname.lastname@example.org. MyVested will, upon timely receipt of any such notice undertake reasonable investigations into such a request, and MyVested' decision in respect of such matter will be final and binding.
- In order to be able to participate in a MyBonus Promotion, it may be necessary in some instances to activate certain settings on your mobile device (eg to allow cookies). If you are unable to access a MyBonus Promotion please contact us at email@example.com.
- MyVested may withdraw or cancel the MyBonus Promotion at any time in its absolute discretion. In addition, MyVested may suspend the MyBonus program if MyVested forms the reasonable view that any fraud, tampering or other gaming is occurring in connection with the MyBonus Promotion, or may suspend your access to the MyBonus Promotion if MyVested forms the reasonable view that you are involved in such activities.
- In order to provide the Services, MyVested Investment Account, Website or App, we may utilise the services or products of a third party service provider, including for example a data aggregator or digital wallet provider ("Third Party Services").
- You acknowledge and agree that in no event will we, our affiliates or any of our officers, directors, agents, joint venturers, employees or representatives, be liable for any claim, loss or damage incurred by you in connection with any Third Party Services, including the loss of any expected profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise.
- You authorise us to obtain from the provider of any Third Party Services all information or access required by us to provide the Services, MyVested Investment Account, the Website or App.
To the maximum extent permitted by law, we do not warrant or represent:
- the completeness or accuracy of the information published on your MyVested Investment Account, the Website or App;
- that the material on your MyVested Investment Account, the Website or App is up to date;
- that the Services, your MyVested Investment Account, the Website or App will be uninterrupted, timely, reliable, secure, error-free or free of any virus, worm, trojan horse or other harmful component; and
- that the Services are merchantable, fit for a particular purpose or of acceptable quality.
- To the maximum extent permitted by law, and subject to these terms, we exclude all representations and warranties relating to the subject matter of these terms, MyVested Investment Account, our Website or App and your use of our Website or App.
- We reserve the right to discontinue or alter any or all of our Services, and to stop publishing our Website or App, at any time in our sole discretion without notice or explanation. You will not be entitled to any compensation or other payment upon the discontinuance or alteration of any Services, or if we stop publishing the Website or App.
- To the maximum extent permitted by law, in no event will we, our affiliates and/or service providers, or any of our or their respective officers, directors, agents, joint venturers, employees or representatives, be liable for any claim, loss or damage incurred by you in connection with your use of the Service, MyVested Investment Account, Website or App ("Claim"), including the loss of any principal sum you have contributed to your MyVested Investment Account, any expected profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise.
- If our liability cannot be excluded by law, and to the extent we are entitled to do so by law, we limit our liability in respect of such Claim to, at our option, the re-supply of the relevant services (which are subject of the Claim) or payment of the cost of having those services supplied again.
To the maximum extent permitted by law, you agree to indemnify us and keep us indemnified, and must pay to us on demand any losses, expenses, actions, claims, suits, demands, damages, liabilities, (whether in tort or in contract) arising out of or related to:
- your breach of these terms;
- your violation of any applicable law or the rights of any third party;
- your use of, or inability to use, our Services, MyVested Investment Account, Website or App; and
- any act of fraud or wilful misconduct by or on your behalf.
- You irrevocably and unconditionally release us from any claims, action, suit or proceedings that you may have against us arising as a result of, or in connection with, these terms or the Services.
- You can terminate the use of the Service and your MyVested Investment Account at any time by giving us prior written notice.
Without prejudice to our other rights under these terms, we may, at any time and without providing notice to you, terminate or suspend your access to the Services, MyVested Investment Account, Website or App:
- without cause at our absolute discretion by giving you 5 days’ notice;
- if you breach these terms in any way, or if we reasonably suspect that you have breached these terms in any way;
- if we are unable to verify your identity;
- if we consider that you do not meet the eligibility requirements to use the Services or hold a MyVested Investment Account; or
- if we consider that you are not a fit and proper person to use the Service.
- Upon termination, you will be deemed to have elected to withdraw your account balance from your MyVested Investment Account and we will return your account balance to your Funding Account.
- Any rights or obligations that have accrued up to and including the date of suspension/termination will survive.
MyVested may, from time to time, and at its absolute discretion, determine to pay a referral fee to investors. If this happens, MyVested will post a notice to the Website or App to notify investors of the following.
- When the payment of a referral fee commences.
- The amount of the referral fee.
- When the payment of a referral fee ends.
Subject to clause 67, a referral fee is paid to an investor who successfully refers a new customer to open a MyVested Investment Account. A referral fee will be payable if:
- an investor who holds an active MyVested Investment Account with a balance of $5 or more refers another person to open a MyVested Investment Account;
- the referred person opens a MyVested Investment Account with a deposit of at least $5; and
- notice is given to the referred person that at the time of the referral a referral fee is currently payable.
- the purposes for which we collect your personal information;
- the consequences if you don’t provide your personal information to us;
- the third parties to which we disclose your personal information;
- how to access and seek correction of your personal information;
- how to complain about a breach of our obligations in respect of your personal information and how we will deal with such a complaint; and
- whether your personal information is likely to be disclosed by us to overseas entities and in which countries these entities reside.
- We may provide you with notices in connection with these terms by posting such notices on the Website or App or, where appropriate, by email or mail, if you have provided contact details for that purpose.
- You hereby agree that we may assign, transfer, sub-contract or otherwise deal with our rights and/or obligations under these terms.
- You may not without our prior written consent assign, transfer, sub-contract or otherwise deal with any of your rights and/or obligations under these terms.
- If any part of these terms is held to be illegal, invalid or unenforceable by a Court of law, the legality, validity and enforceability of the remaining parts will not be affected.
- Any failure or delay by us to enforce any provision of these terms will not be interpreted as a waiver of our rights or remedies.
- These terms and conditions shall be governed and interpreted by the laws of Victoria, Australia. Any dispute relating to these terms shall be subject to the exclusive jurisdiction of the Courts of Victoria, Australia.
- If you have any questions about these terms, please contact us by sending us an email to: firstname.lastname@example.org
For the purpose of these terms:
- "Account" means the account identified by you in the Direct Debit Request from which you have authorised and requested us to debit funds;
- "Debit Arrangements" means the debit arrangements that apply between us and you as set out in the Direct Debit Request Service Agreement and the Direct Debit Request;
- "Debit Day" means a day on which your account is to be debited by us;
- "Direct Debit Request Service Agreement" means the direct debit request service agreement as set out in sections 47 to 61 of these terms;
- "Debit Payment" means a particular debit from your account;
- "Direct Debit Request" means the direct debit request signed by you as amended from time to time;
- "Your Financial Institution" means the financial institution identified by you in the Direct Debit Request which holds your account.
Debiting Your Account
- By signing the Direct Debit Request, you agree to be bound by the terms of this Agreement and authorise Us to debit from your Account any amount payable to Us by you under the terms, including any payable maintenance fees.
- If a Debit Day falls on a day that financial institutions in Victoria, Australia are closed, we will debit your Account on the next business day. If you are unsure about which day your Account has or will be debited you should ask Your Financial Institution.
- We may vary or cancel the Debit Arrangements at any time, by giving you at least 14 days’ notice of the variation or cancellation.
- You may, in writing to us, request that your Debit Arrangements be altered or deferred. In this situation, you will be required to provide verification information again.
- You may cancel your authority for us to debit your Account at any time by giving us at least 14 days’ notice in writing. You may cancel the Debit Arrangements by contacting Your Financial Institution.
- In order to operate your MyVested Investment Account, you must have a direct debit arrangement in place.
- If you cancel the Debit Arrangements with Your Financial Institution, you must make other arrangements with an alternative financial institution.
- If you believe that there has been an error in debiting your Account, you should contact us as soon as possible at the email under the heading above "Contact Us". We will investigate the matter and respond to you in writing of the action we have taken within 21 days. Alternatively, you may raise the matter directly with Your Financial Institution.
- If we find that the debit was incorrectly made, we will arrange for Your Financial Institution to adjust your Account accordingly (including in relation to any interest and charges incurred). We are not liable for any other losses suffered by you as a result.
- If we find that the debit was correctly made, we will advise you of this in writing together with our reasons and any evidence supporting this finding.
- check with Your Financial Institution to make sure that direct debit is available on your Account as direct debit is not available through the Bulk Electronic Clearing System (BECS) on all accounts offered by financial institutions;
- ensure that the account details you provide to us for your Account in the Direct Debit Request are correct by checking them against a recent account statement; and
- check with Your Financial Institution before completing the Direct Debit Request if you have any queries about how to complete the Direct Debit Request.
- It is your responsibility to make sure that your Account has sufficient clear funds available on a Debit Day to permit a Debit Payment to be made in accordance with your Direct Debit Request.
- If we are unable to process a Debit Payment on a Debit Day, we will notify you in writing and we may require you to pay failed payment fees and charges, and Your Financial Institution may also require you to pay failed payment fees and charges. You must arrange for the Debit Payment to be made by another method or arrange for sufficient clear funds to be in your account by an agreed time so that we can process the Debit Payment. We are not responsible for failed payment fees and charges in either situation.
- We will keep any information (including your Account details) in your Direct Debit Request confidential. We may be required to disclose such information in connection with a claim relating to any alleged incorrect or wrongful debit.
- If you need to give us a notice in relation to the Debit Arrangements, use the contact email under the heading above "Contact Us". We will send you notices using the email address that you provide to us.