Terms and Conditions

Effective Date: 18/02/2025

Last Updated: 18/02/2025

These Terms and Conditions ("Terms") govern the use of Cashwo, operated by PayAny1 Pty Ltd (ABN 51 630 466 303), providing non-cash payment solutions for businesses. By accessing or using our services, you agree to these Terms, our Financial Services Guide (FSG), and our Product Disclosure Statement (PDS), available on our website.

1. Definitions

• AFSL – Australian Financial Services License No. 518990 held by PayAny1 Pty Ltd.
• Cashwo – The financial services platform offering non-cash payment solutions via PayTo technology.
• PayTo – A payment service allowing businesses to collect funds directly from customers’ bank accounts with authorization.
• Business User – A registered business using Cashwo’s payment services.
• Customer – An individual making payments to a Business User via Cashwo.
• Unauthorized Transaction – Any transaction made without the user’s consent.

2. Cashwo Payment Solution

• Cashwo provides a non-cash payment solution for businesses to accept online payments from their clients via PayTo technology.
• Business Users can send invoices through the Cashwo App or Web Portal, allowing customers to authorize direct debits from their bank accounts.
• Payments are automatically settled into the Business User’s bank account within 24 hours (subject to banking hours and NPP participation).

3. Account Registration & Eligibility

• Only registered Australian businesses can create a Cashwo account.
• Business Users must provide accurate business and identity verification details as required under AML-CTF laws.
• The Cashwo account must be linked to a verified business bank account (personal bank accounts are not permitted).

4. Fees & Charges

4.1 Transaction Fees

• Accepting payments: 2% per transaction (capped at $3).
• Withdrawal Fee: $2 per transaction for instant withdrawal.
• No fees for standard settlement from Cashwo to the business bank account.

4.2 Account Maintenance Fees

• $40/month if total transactions via Cashwo are below $5,000.
• No fee if total transactions exceed $5,000/month.

5. Anti-Money Laundering (AML) & Compliance

• Cashwo complies with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
• Users must complete identity verification before activating their accounts, ensuring compliance with AML-CTF laws to prevent fraud and financial crime.
• Identity verification includes government-issued identification and business registration details.
• Cashwo may block, delay, or refuse transactions suspected of fraud or financial crime.
• Suspicious transactions may be reported to AUSTRAC without prior notice.

6. Security & Unauthorized Transactions

• Users must keep login credentials secure and notify Cashwo immediately if they detect unauthorized access.
• Transactions cannot be reversed once processed.
• Unauthorized transactions will be assessed under the e-Payments Code.
• Users must follow Cashwo’s dispute resolution process to report unauthorized transactions.
• If fraudulent access is suspected, users must contact support@cashwo.com.au immediately.

7. Dispute Resolution

• Business Users must report transaction disputes within 30 days.
• Dispute resolution will be handled in accordance with AFCA (Australian Financial Complaints Authority) guidelines.
• Contact support@cashwo.com.au for complaints.
• We aim to resolve complaints within 14 business days.

8. Account Suspension or Termination

Cashwo may suspend or terminate an account if:

• Fraudulent activity is detected.
• Regulatory obligations are not met.
• The Business User violates these Terms.
• Users may request account closure at any time by contacting support@cashwo.com.au.

9. Liability & Limitations

• Cashwo is not liable for losses due to incorrect payment details provided by users.
• The Financial Claims Scheme does not apply to Cashwo accounts.
• Cashwo’s liability is limited to the transaction amount, except where prohibited by law.

10. Privacy Policy

We collect and process personal data in accordance with our Privacy Policy, available at www.cashwo.com.au/privacy-policy.

11. Governing Law

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These Terms are governed by the laws of Victoria, Australia, including but not limited to the Australian Consumer Law (ACL) under the Competition and Consumer Act 2010 (Cth) and the Electronic Transactions Act 2000 (Vic). These laws ensure that customers receive fair trading protections, digital transaction integrity, and financial service transparency.

Key provisions include:

• Consumer Rights:Businesses must not engage in misleading or deceptive conduct. Goods and services must be provided with due care and skill.
• Electronic Transactions:Digital agreements and signatures are legally recognized under the Electronic Transactions Act 2000 (Vic).
• Financial Protections:Cashwo adheres to regulations under the Financial Management Act 1994 (Vic) and the ASIC Act 2001 (Cth) for secure financial dealings.

For additional information, users may refer to https://www.legislation.vic.gov.au/.