1.1. This Agreement sets out the terms and conditions in respect of your Account and the related services that we provide to you. It consists of the following parts:
1.1. This Agreement includes:
(a) any other terms and conditions that may apply to the services that weprovide to you, as notified by us from time to time; and
(b) the Account Opening Form.
1.2. This Agreement is between you and 1derful Lending Pty Ltd and theservices contemplated in this Agreement are provided to you by 1derful LendingPty Ltd. Alectura Pty Ltd, trading asBree App may also provide you with services outside this Agreement. Refer to www.meetbree.com.au for more information.
2.1 1derful provides a range of services as explained in this Agreement
2.2 1derful does not provide any financial product advice or credit advice or assistance and you should always consider your personal objectives, circumstances or needs.
2.3 You should not use 1derful’s services if you do not fully understand the risks associated with them.
2.4 1derful's services are subject to change at any time without notice and may contain errors.
3.1 To open an Account, you must complete an Account Opening Form through the Bree Application.
3.2 You must provide 1derful with accurate, complete and current information as requested in the Account Opening Form, and notify 1derful of any changes to the information provided.
3.3 1derful reserves the right to refuse to provide you with an Account and is not required to provide you any reasons for its decision. At a minimum, in order to open an Account, you must:
(a) be an individual;
(b) be at least 18 years of age and a holder of an Australian drivers’ licence, passport or other Australian Government issued identity documentation as accepted by 1derful and from which your identity can be verified;
(c) have a verifiable email address and Australian mobile number;
(d) be matched to 1derful's satisfaction against a credit bureau; and
(e) have added a valid payment source to your Account.
3.4 1derful may hold or suspend access to your Account at any time if 1derful reasonably believes that fraud is involved, that there is a risk associated with your 1derful Account, or that you have breached this Agreement or any applicable Laws.
3.5 You will not be able to terminate your Account if there is a Credit balance outstanding on your Account. You may however suspend your Account (such that no additional Credit can be obtained) and pay down any outstanding Credit balance on your Account. While your account is suspended, you will not pay any further ongoing fees.
4.1. You warrant that you are of full age and capacity.
4.2. You represent and warrant to 1derful that:
(a) your execution and delivery of this Agreement, use of our services and performance of all of your obligations contemplated under this Agreement, does not violate any law applicable to you;
(b) all information provided by you to 1derful is true, correct and complete, and you will notify 1derful promptly of any changes to such information;
(c) all information provided by you to 1derful is true in all material respects as at the date of this Agreement or, if later, when the information is provided. Neither that information nor your conduct or the conduct of anyone acting on your behalf in relation to the Transactions contemplated by this Agreement, was or is misleading, by omission or otherwise;
(d) you shall make ongoing disclosure to 1derful of any matters that may affect the operation of this Agreement;
(e) the funds received, transferred, used and held by you are funds that you are entitled to use, transfer and hold, and are not derived from illegal sources;
(f) the information on the Bree Application will not be used for unlawful or unauthorised purposes;
(g) you are not subject to an Insolvency Event;
4.3. You acknowledge that 1derful:
(a) will provide the services contemplated by this Agreement to you in reliance on the representations and warranties made by you; and
(b) has no control over, and is not responsible for, the quality, safety, legality or delivery of any goods or services that you purchase from third parties or pay for from your Account.
5.1. Personal Information collected by 1derful is treated as confidential and is protected by the Privacy Act (Cth)1988, as varied from time to time. 1derful will only collect PersonalInformation which is necessary to perform the services contemplated by thisAgreement.
5.2. 1derful will use reasonable precautions to maintain the confidentiality of information it receives from you and material and/or data you provide, create, input or develop in connection with your use of the 1derful services. Nonetheless, because such information, material and/or data may be provided through the internet, you hereby acknowledge and agree that 1derful cannot assure that such information, material and/or data will continue to be confidential.
5.3. You accept the risk of a third party receiving confidential information concerning you and specifically release and indemnify 1derful from any claim arising out of a third party intercepting, accessing, monitoring or receiving any communication:
(a) you intended to be provided to 1derful; or
(b) 1derful intended to be provided to you.
5.4. You acknowledge and agree that 1derful may disclose your name and other Personal Information and financial information about you, and any relevant details of an Authorised User, to 1derful’s employees, representatives, officers, agents, and affiliates, as well as to a governmental entity or self-regulatory authority, an internet service provider or any other third party agent or service provider for any purpose related to offering, providing, administering or maintaining the 1derful services, or to comply with applicable Laws.
5.5. The information provided in the Bree Application is to be used for the purpose of you using 1derful’s services only, and not for any other purposes. Using the Website does not transfer intellectual property rights to you.
5.6. In appropriate cases all communications and information concerning you held by 1derful, may be disclosed to, and reviewed by, law enforcement agencies and regulatory authorities. In addition, you agree to comply with all applicable money laundering and counter terrorism financing Laws, including, but not limited to, the requirement to obtain or provide satisfactory evidence of the identity of any person whom you may represent in any Transaction entered into with 1derful.
5.7. You agree and consent to 1derful (or its agents) making a verification request to a credit reporting body, document issuer or official record holder to assist in verifying your identity for the purposes of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (and related rules and regulations). You also agree and consent to the disclosure of your Personal Information for this purpose including your name, residential address and your date of birth.
5.8. You agree and consent to 1derful providing your full name, address and any other details as a reasonably requested by a government department, agency or similar, beneficiary’s bank or financial institution or as required to comply with applicable Laws.
6.1. We may charge you a fee for providing you with our services under this Agreement. Our fees are published in the Bree Application and on our website at www.1derful.io and are updated from time to time. We will provide 7 days’ Notice of any variation to our fees.
6.2. 1derful may impose other fees and charges for using its services, by providing Notice to you. If you do not consent to the charges, you can terminate the Agreement and the charges will not apply to any prior Transactions. If you terminate the Agreement under this clause, all existing Transactions will survive the termination of this Agreement.
6.3. 1derful may deduct any fees owing to it from your Account.
6.4. In the event of a positive balance in your Account, you acknowledge that 1derful may earn and retain interest on that balance and is not required to account to you for such interest.
6.5. 1derful may receive referral fees and/or commissions from product providers and other third parties in connection with its products and services.
7.1. If 1derful is unable to perform its obligations under this Agreement because of factors beyond its control or because of a Force Majeure Event, 1derful will notify you as soon as is reasonably practicable.
7.2. In the absence of any fraud, wilful default or negligence on the part of 1derful, 1derful will not be liable for any damages, claims, losses, liabilities or costs resulting from an event or factor beyond its control or a Force Majeure Event.
8.1. This Agreement may be terminated immediately by you or 1derful by giving Notice to the other in writing. However, termination by either party shall not relieve either party of any outstanding obligations arising out of this Agreement.
8.2. In the event that 1derful is made aware of, or has reason to believe, any of the following:
(a) that you have provided false or misleading information to 1derful; or
(b) that you have participated or are participating or have assisted or are assisting in money laundering or terrorist financing; or
(c) that you are being officially investigated by law enforcement and/or regulatory agencies;
then 1derful, at its sole discretion, may terminate this Agreement immediately by Notice to you, and 1derful at its sole discretion shall be relieved of any obligations set out in this Agreement.
9.1. You shall indemnify and hold 1derful harmless from any and all liabilities, claims, costs, expenses and damages of any nature, including, but not limited to, reasonable legal fees and any fees and expenses incurred in connection with litigation, arising out of or relating to your negligence, mistake or wilful misconduct, the violation of any law by you, or the breach by you of any provision of this Agreement.
9.2. You also agree to promptly pay 1derful for all damages, costs and expenses, including reasonable legal fees and expenses, incurred by 1derful in the enforcement of any of the provisions of this Agreement. Your obligations under this Clause 9 shall survive the termination of this Agreement.
9.3. 1derful is not responsible for any delays, charges or loss incurred due to errors in the payment or beneficiary information that you provide to us. You agree to indemnify 1derful and be liable for any losses or charges incurred by 1derful arising from such errors that you make.
9.4. Nothing in this Agreement is intended to limit or exclude any liability 1derful may owe you under any statutory rights you may have. However, to the maximum extent permitted by law, our maximum aggregate liability for all claims under or relating to this Agreement whether in contract, tort (including without limitation negligence), in equity, under statute, under an indemnity or otherwise, based on a fundamental breach or breach of a fundamental term or on any other basis, is limited to any fees paid by you to 1derful under this Agreement.
10.1. The terms of this Agreement, may be amended by 1derful at any time. 1derful will provide Notice to you of any such amendment. You agree to be bound by the terms of such an amendment on the earlier of:
(a) 10 Days after 1derful has posted Notice of the amendment on the Website or Bree Application;
(b) upon providing Notice to you by email; or
(c) on the date you enter any Transaction after the amendment.
10.2. If you do not consent to the amendment, you can terminate the Agreement and the amendment will not apply retrospectively. Termination in this case does not affect any obligations owed by you, or rights of 1derful with regard to Transactions undertaken prior to the termination.
10.3. Any other amendments must be agreed to in writing between you and 1derful.
11.1. Any notice required or permitted to be given under this Agreement or for the purposes of this Agreement (“Notice”) shall be in writing and shall:
(a) If to you, be sent by prepaid registered mail or delivered by hand to your address as set out in this Agreement, or such other address that you designate in writing, or by 1derful emailing your nominated email address; and
(b) if posted on the Website or Bree Application, Notice is deemed to have been given 3 Days after the Notice was posted on the Website or the Bree Application; or
(c) if the Notice was sent to your address, the Notice is deemed to have been given on the Day after the Notice was sent, unless delivered by hand in which case the Notice is deemed to have been given on delivery.
(d) If to 1derful, be sent by prepaid registered mail or delivered by hand to the address of 1derful set out in this Agreement, or such other address as 1derful designates in writing, and such Notice is deemed to have been given 3 Days after the Notice was posted, unless delivered by hand in which case the Notice is deemed to have been given on delivery.
11.2. Any Notice given or made under this Agreement may also be sent by email if:
(a) the Notice is sent to the email address last notified by the intended recipient to the sender; and
(b) the sender keeps an electronic or printed copy of the Notice sent.
11.3. A Notice sent by email will be deemed to have been given on the first to occur of:
(a) receipt by the sender of an email acknowledgement from the recipient’s information system showing that the Notice has been delivered to the email address stated above;
(b) the time that the Notice enters an information system which is under the control of the recipient; or
(c) the time that the Notice is first opened or read by an employee or officer of the recipient.
11.4. It is your responsibility to notify 1derful of any changes to your contact details.
12.1. This Agreement shall be governed by, and construed in accordance with, the laws of New South Wales, Australia. The parties agree to irrevocably submit to the non-exclusive jurisdiction of the courts of New South Wales, Australia.
12.2. At no time shall either party enter into commitments for, or in the name of, the other party or use their Intellectual Property for any purpose whatsoever. Except as specifically provided for in this Agreement, neither party will:
(a) use the other party’s name or Intellectual Property without the prior written approval of the other party; or
(b) represent itself as being affiliated with, or authorised to act for, the other party.
12.3. Any rights or obligations that you may have pursuant to this Agreement shall not be assigned, transferred, sold, or otherwise conveyed, except with the prior written consent of 1derful. 1derful may, however, transfer any rights or obligations it may have pursuant to this Agreement to another party without your consent. Such an assignment shall only take place if a reasonable person would not expect it to cause detriment to a typical customer of 1derful. You will execute any documents (including a deed of novation) reasonably required by 1derful to effect such a transfer.
12.4. You are responsible for the payment of all taxes that may arise in relation to your Account. You are responsible for obtaining your own tax advice in relation to this Agreement, your Account and any transactions you undertake in relation to your Account.
12.5. If any provision of this Agreement is determined to be invalid or unenforceable by a court of competent jurisdiction, such clause will be severed from the Agreement and the other provisions of this Agreement will remain in full force and effect.
12.6. No failure or delay by us to exercise any right or remedy provided under this Agreement or by Law shall constitute a waiver of that or any other fight or remedy. Nor shall it prevent or restrict the further exercise of that or any other right or remedy.
13.1. In addition to other remedies available to 1derful, if you fail to pay any amount when due under this Agreement, 1derful may, to the extent permitted by Law, set-off such amount against any amount payable by 1derful to you or any amount in your Account.
13.2. To the extent permitted by Law, 1derful is entitled to set-off against any amounts due to it by you, any amounts received by 1derful from or on your behalf including but not limited to moneys received or held on your behalf. 1derful may determine the application of any amounts which are to be set-off at its own discretion.
13.3. You must not set-off against any amounts you owe to 1derful, any amounts 1derful owes to you.
14.1. When you contact 1derful electronically, by telephone or otherwise, 1derful may, but is not obliged to, ask for or clarify the following information where applicable:
(a) your Account number or User ID;
(b) your further identification details;
(c) the beneficiary details (i.e. name, account details); and
(d) any identification reference you would like to be sent with the payment instruction.
14.2. Collectively, though not exhaustively, the information referred to in clause 14.1 or any portion thereof, constitutes the “Instructions”.
14.3. 1derful is not obliged to act on any Instruction unless it has been validly submitted. 1derful may also request that you provide it with further information or documentation in respect of any Instruction.
14.4. Prior to submitting any Instruction, you must ensure it is accurate and complete (including, in respect of BPay payments, that the Biller ID and Customer Reference Number are correct). You shall indemnify 1derful for any error made by you or an Authorised User in providing Instructions to 1derful.
16.1. You must not deposit physical cash into 1derful’s accounts under any circumstances.
16.2. You must have sufficient Credit Limit available to you before 1derful will execute your Instructions and effect Transactions for you.
16.3. 1derful is not responsible for any fees or charges imposed by third party banks, intermediaries or other counterparties, which are incurred by you in connection with the use of 1derful’s services.
17.1. 1derful may, without notice, reverse a Transaction in certain circumstances, including where incorrect information has been supplied, where it reasonably suspects that the Transaction involves fraud or where it reasonably believes that there is a risk associated with the Transaction or your Account.
17.2. If a Transaction is reversed, 1derful may at its absolute discretion convert funds which are subject to the reversal into in a Supported Currency if they are denominated in another currency. Any costs or charges incurred in administering any currency conversion or reversal will be added to any Credit provided to you by 1derful.
17.3. You agree to indemnify 1derful in relation to any payment reversal or removal of funds.
18.1. You must not chargeback, recall or cancel any Transaction you make to transfer funds to your Account.
18.2. If you seek to chargeback, recall or cancel any Transaction you make to transfer funds to us, you will be liable to 1derful for any fees that 1derful incurs as a result. 1derful may recover such fees from you.
19.1. 1derful will use all reasonable efforts to process your Transaction(s) on a timely basis. However, 1derful shall not, in the absence of wilful misconduct, be liable for the loss of any funds or delays, damages, failures or errors in the completion of the Transaction(s) or any late fees incurred by you as a result of a delay in the completion of a Transaction.
20.1 You can contact 1derful in relation to any issues with your Account or the services contemplated by this Agreement by contacting 1derful via the methods outlined below.
For general customer support services Bree are available on firstname.lastname@example.org
20.2. You can also contact 1derful to discuss any financial hardship issues or any complaints that you may have.
This part applies to customers who wish to obtain credit from 1derful.
21.1. 1derful will provide the Customer with access to Credit.
21.2. The Credit Limit provided to the Customer will be determined by 1derful and may be amended by 1derful in its sole discretion from time to time.
21.3. 1derful will charge your Account for the amount of each Transaction initiated by you through the Bree Application, as well as the amount of any fees and charges payable under this Agreement. The Customer must pay the amounts charged to yourAccount at the times, and in the amounts, described in this Agreement.
21.4. The Credit Limit is a cap on the outstanding balance on the Customer's account. 1derful may refuse to allow a customer to make a Transaction where that Transaction would cause the Customer's account to exceed the Credit Limit. However, 1derful may allow the Customer's account to temporarily exceed the Credit Limit (including because of fees payable under this Agreement), in its discretion. Where this occurs, the excess amount will be included in the amount payable by you to 1derful.
21.5. You must not use any amounts received from 1derful, or direct 1derful to apply any amounts, for the following categories of payments:
(a) gambling or betting;
(b) prostitution, pornography, eroticism, or sexual activity entertainment;
(c) Weapons or munitions;
(d) purchasing cryptocurrency;
(e) any illegal activities; or
(f) any other transactions which are inappropriate or unacceptable.
22.1. If the Customer wishes to dispute a Transaction (for example, because the Customer does not believe it made the transaction or believes that the transaction has been charged for an incorrect amount), the Customer must contact 1derful as soon as possible and no later than 45 days after the Transaction. The Customer must provide information reasonably required by 1derful to investigate the disputed transaction.
22.2. The Customer will not be responsible for Transactions that it did not make, where the Customer did not contribute to the circumstances giving rise to the Transaction. The Customer may be responsible for Transactions where the Customer did contribute to the circumstances giving rise to the Transactions (such as by breaching this Agreement).
22.3. Following receipt of a Transaction dispute from a Customer, 1derful may credit an amount of the Transaction back to the Customer's account if it is satisfied that the Customer should not be responsible for the Transaction or the full amount of the Transaction.
23.1. No interest is charged to the Customer in respect of Credit provided under this Agreement.
24.1. The Customer must repay the Credit to 1derful according to the amounts and timetable set out in item 1 in Schedule 1.
24.2. If you fail to repay Credit provided to you by 1derful in accordance with Schedule 1, 1derful may cease to provide other services to you including ceasing any payments to be made on your behalf.
Where 1derful make a payment to an international biller in a currency other than Australian dollars, 1derful will calculate the Australian dollar amount of the transaction using an exchange rate and charge that Australian dollar amount to the Customer's account. The exchange rate will be determined by 1derful, based on the actual exchange rate obtained by 1derful in respect of the payment (adjusted for the cost of any fees or other charges paid by 1derful).
26.1. Upon termination of this Agreement, any Credit provided to you continues to be payable in accordance with this Agreement. Your obligations to make payments in accordance with item 1 in Schedule 1 survive termination of thisAgreement until all such amounts are paid.
This part applies to applies to customers who wish to use the Bill Payment Service.
In this Agreement:
Bill Payment Service has the meaning given to it in clause 28.1;
Biller refers to any organisation that is eligible to receive payments via the Bree Application.
28.1. We offer a service (Bill Payment Service) through which we pay your Bills to Billers through the BPay system when you email us with a Bill as a PDF attachment to the unique email address assigned to you by us. The unique email address that we provide to you is only to be used to submit Bills for payment and must not be used for other correspondence..
28.2. We reserve the right to not allow payments of bills where the bill is not within your name where we believe it is reasonable for us to do so.
28.3. When a Bill payment fails, we will refund any money that you have provided to us in relation to that Bill payment to you, either by payment to you or by crediting to your Account (in our discretion).
28.4. When you tell us to pay a Bill, the Bill that you provide must give us the information specified in clause 29 below.We will then make payment to theBiller as soon as possible but within 2 Business Days and debit the amount of the payment to your Account. Such Credit is provided to you on the basis set out in Part D of this Agreement.
28.5. Transactions in which you give us the required details will be processed in accordance with the following:
(a) The Bree Application will enable you to provide us with an email bill, to digitise and store the Biller’s details.
(b) The Bree Application will not verify the validity of the Biller’s details. Rather, you will be asked to confirm Biller details and reference information.
(c) 1derful will pay the bill amount to the Biller and provide Credit to you to the amount of the Bill plus any relevant surcharges and fees.
(d) You will repay the Credit to 1derful as required under this Agreement.
28.6. The Bills that we pay are paid through the BPay system. We are not responsible or liable for any errors or omissions in payments as a result of a failure of the BPay system.
28.7. You acknowledge that the receipt by a Biller of a mistaken or erroneous payment does not, or will not, constitute under any circumstances part or whole satisfaction of any underlying debt owed between you and that Biller.
28.8. Where you make an incorrect payment using the Bill Payment Service, you will be responsible for obtaining a refund of that amount from the recipient. You will continue to be responsible to make repayments to 1derful in respect of that payment in accordance with this Agreement.
29.1. The information you must provide to 1derful to enable us to make a payment includes:
(a) the Biller’s details;
(b) your payment reference or invoice number; and
(c) the payment amount.
29.2. You acknowledge that we are not obliged to effect a payment if you do not provide all of the above information, or if any of the information you provide is inaccurate.
30.1. We ill endeavour to pay your bill as soon as possible. If you request for 1derful to make a payment prior to5:00pm AEST / AEDT it may be paid to the Biller the next available BusinessDay. Payments made on a weekend (that is, a Saturday or Sunday) or on a day which is not a Business Day may take up to 2 Business Days to be paid to theBiller.
30.2. 1derful may also offer the ability for you to direct 1derful to make a payment on a specified date in the future.
(a) If we are unable to make payment to a Biller, we will:
(i) advise you of this; and
(ii) not provide you with Credit in relation with the amount of the payment.
(b) If a payment made to a Biller is returned to us through BPay, we will:
(i) advise you of this;
(ii) return to you the amount we receive from the Biller or credit such amount to your Account;
(iii) cancel the corresponding repayment obligations.
You should check your account records carefully and promptly report to us as soon as you become aware of any payments that you think are errors or are payments that you did not authorise or you think were made by someone else without your permission.
33.1. Whenever used in this Agreement, unless inconsistent with the subject matter or context, the following words shall have the following meanings:
You will beable to make your repayment in 8 weekly repayment instalments.
The firstinstalment is due on the day that the Transaction occurs.
TheTransaction amount is divided into equal instalments. Where the amount can’t be divided into equalinstalments, the last instalment will be the lowest amount.
You canmake multiple Transactions. EachTransaction will have its own repayment instalment timetable, based on the dateof the Transaction.
Prior tomaking any Transaction, you must load a funding source to your Account. There must at all times be a valid fundingsource (such as a debit or credit card) linked to your Account. You authorise us to debit your funding sourcein respect of each repayment instalment and any other fees and charges payableunder this Agreement and agree not to take any action to limit our ability todo so.
YourAccount can have multiple funding sources. If you choose to do so you will be asked to choose a default and allrepayments will be deducted from your default funding source (unless otherwisespecified).
You will have the ability in the Bree Application to make additional repayments prior to the scheduled repayment instalments. Where you do so, this will reduce the amount of the next scheduled repayment instalment(s),(unless otherwise specified).
A subscription fee is charged for each month of your use of the Account, calculated as:
- $14.28 per calendar month for the 1st year of use
- $10.40 per calendar month for the 2nd and each subsequent year of use. This fee applies from subscription fee payable for the 13th calendar month onwards.
The subscription fee commences to be charged when you first make a Transaction. The second and all subsequent subscription fees are charged on the same calendar day in subsequent months. Where the first instalment date is the 29th, 30th or 31st of the month the second instalment will be on 1st of the second month after.
The subscription fee is charged as long as the Account is active, regardless of whether you have a Credit balance and whether you have any pending repayments.
1derful may also charge fees for processing of payments, where applicable.
If any instalment is not paid, whether due to a declined payment request, payment source not being valid or for any other reason, your Account will be blocked and you will be unable to make any further Transactions until the issue has been rectified and all owing repayments have been made.
Where a repayment fails, we will re-attempt to collect the repayment on day 1, day 2 and day 3. After this time, we no longer attempt to collect repayment from your linked funding source, but you will still be obliged to make the payment. At any point where there is an outstanding amount we may make an attempt to collect the outstanding amount from your default payment source.