Acceptance of Terms Thank you for choosing us as your platform of choice! These terms and conditions (Terms) constitute a legally binding agreement between you and, Cruz Tech Pty Ltd (ABN 76 664 631 038), Cruz Money Pty Ltd (ABN 89 627 532 718), and Cruz Money IP Pty Ltd (ABN 36 656 662 921) (Cruz Money, we, us, our), an Authorised Representative (AFS Representative Number: 001297393) of Cruz Financial Planning Pty Ltd ACN 618 516 135 (Cruz) AFSL Number: 532193. Any capitalised terms are defined in Clause 23 of these Terms. These Terms apply to any person that registers and holds an Account with Cruz Money through the App (you or your). You agree to be bound by these Terms by using the App and the Services. If you do not accept these Terms, you must not use the App. Please read these Terms carefully and obtain appropriate independent legal, financial, taxation and regulatory advice before using the App.
Disclaimer Information contained in the App and/or on the Cruz Money’s website (https://www.cruz.money/) (Website) is general in nature as it has been prepared without taking account your personal objectives, financial situation or needs. You should carefully read and consider these Terms, and information available on the Website and the App, and obtain appropriate independent financial, taxation, regulatory and legal advice, before registering an account with Cruz Money or making a decision based on information contained on the Website and the App. This includes any information on any websites for cruzplanning.com.au, cruzinsurance.com.au and/or cruzfamilyoffice.com.au.
Amendment of terms We may amend the Terms from time to time. We will provide you with reasonable notice of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Such notice will be sent by email to the address associated with your Account (see Clause 13, Electronic Communications) If you are not happy with any amendments or changes to our Terms, you may withdraw and leave the App at any time subject to these Terms. By continuing to use the App, you agree to be bound by the most recent Terms which have been made available to you.
Our Services 4.1 The App facilitates the movement of your funds among your Nominated Accounts (the Services).
4.2 The App will only allow us to transfer funds between Nominated Accounts in accordance with your specified instructions.
4.3 You acknowledge and agree that: (a) Cruz Money may transfer funds between your Nominated Bank Accounts; and (b) in return, Cruz Money will receive a fee per transaction dependent on volume.
Eligibility 5.1 In order to open an Account, you must be: (a) in Australia; (b) an Australian resident; (c) 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the App; and (d) hold an account with an ADI.
Your Obligations 6.1 By opening an Account, you accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of your Account and the App, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. Depending on your country of residence, you may not be able to use all the functions of the App. You can only download the App if you meet the eligibility requirements pursuant to clause 5.1. 6.2 You also agree and accept that you will not: (a) open, or attempt to open, an Account under any name except your own;
(b) use your Account to carry out transactions on behalf of a third party, whether related or otherwise;
(c) use or access any Account other than your own;
(d) assist any other person in obtaining unauthorised access to any Account;
(e) use your Account for or in relation to any illegal activity, any Restricted Activities (see Clause 7, Restricted Activities) or in violation of any Laws.
6.3 You may also terminate your Account by deactivating your Account at any time. If these Terms are terminated or suspended for any reason:
(a) you agree to immediately terminate and cease use of the App and all Services; and
(b) we may (but have no obligation to) delete your information and account data stored on our servers in accordance with applicable privacy law legislation.
Restricted activities 7.1 In connection with your use of the App and Services and by opening an Account, you confirm that you will not participate in any Restricted Activities. 7.2 The following are considered restricted activities in connection to the App and Services (Restricted Activities): (a) Violation (or assist another in violation) of any applicable law, statute, ordinance or regulation; (b) Facilitation, support, or undertaking in criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking; (c) Providing false, misleading or inaccurate information; (d) Participating in abusive activity, including but not limited to: i. imposing an unreasonable or disproportionately large load on our infrastructure, or otherwise taking any action that may negatively affect the performance of the App, or Cruz Money’s reputation; ii. attempting to gain unauthorised access to any Account; iii. transmitting or uploading any material to the Cruz Money website or App that contains viruses, Trojan horses, worms, or any other harmful programmes; or iv. Transferring your Account access or rights to your Account to a third party, unless required by law or with our prior written consent. (e) Decompile, disassemble or reverse engineer the App or website or any of its components or source code, or modify, tamper, create derivative works, or otherwise incorporate the App or website in other programs or platforms without our prior written consent.
Third Party Service Providers 8.1Cruz Money has arrangements in place with third party service providers (Third Party Service Providers), which include payment service providers and platforms in order to provide the Services and features available to you through your Account and the App.8.2Cruz Money relies in whole or partly, on the continued development and support of the product and services provided by Third Party Service Providers. Access to the features and functions of the App is made conditional upon you consenting, agreeing and meeting the terms and conditions of such Third Party Service Providers or others and those terms shall govern your use of such services they provide. These may include but are not limited to third party services providers who assist us with our identity verification procedures (see Clause 14, Identity Verification) and ability to direct debit your Nominated Account. 8.3 You acknowledge and agree that there is no assurance or guarantee that the Third Party Service Providers will continuously maintain their support of their products and services, failure of which may have a material adverse effect on the features and functions available in the App.8.4 The App may contain links to third party vendors, websites, resources and services (Third Party Material) not controlled by us. You acknowledge and agree that Cruz Money is not responsible or liable for (i) availability or accuracy of such Third Party Material, or (ii) the content, products or services on or available from such Third Party Material. You acknowledge and hold sole responsibility for and assume all risks arising from your use of any such Third Party Material.
Direct Debit
9.1. You must ensure that there are sufficient funds in your Nominated Account.
9.2. You must: (a) provide us with the details of the Nominated Account; and (b) if applicable, where you change the account details of the Nominated Account to a financial institution different from that of the original Nominated Account, provide us with the new account details (from the required amendment form detailing the new account details, completed and signed/authorised by you).
9.3. You acknowledge that: (a) any cancellation or request to cancel the DDR must be made directly by you; (b) we will effect cancellation of the DDR upon being instructed or directed by you; (c) the relevant period of notice of cancellation of the DDR will be determined by you or Laws, whichever is applicable. (d) you acknowledge that we must receive notification of any cancellations or variations of any DDR prior to the designated Direct Debit date.
9.4. You acknowledge and expressly agree that Cruz Money will deduct any equivalent fees charged by the Third Party Service Providers from your Account balance.
9.5. We will process Direct Debit funds in accordance with your instructions and these Terms. You are solely responsible for ensuring that any Direct Debit instructions provided to Cruz Money are complete and correct and you accept and agree that under no circumstances will Cruz Money be under any obligation to reverse or amend any Direct Debit that are already initiated.
9.6. We note that funds can be withdrawn from the Nominated Account at any time and there may be a delay between the time that funds are withdrawn from the Nominated Account and the time that such transaction is shown on the Nominated Account, it is therefore possible that the funds as shown on the Nominated Account may not be the actual amount of funds available and overdrawing may can occur. You acknowledge that you will indemnify and hold us harmless from all claims, demands, suits or other forms of liability that may arise against us for or on account of any action taken as a result of such overdrawing.
Return on funds
10.1. The interest rate available on the Nominated Account at any given time can fluctuate which is beyond our control. 10.2. You acknowledge that the Services only facilitate the transfer of your funds and there is no guarantee from Cruz Money that you will achieve your desired financial return through the use of the Services. Therefore, the rates of return from the Services are beyond our control and cannot be guaranteed by us.
Intellectual Property 11.1. All intellectual property rights (including copyright and patents) in the App and all components of them are owned or licensed by us unless otherwise indicated. You must not copy, modify or transmit any part of the App or any Content except as permitted in these Terms. 11.2. The App contain trademarks, logos, service names and trade names of Cruz Money or third parties that may be registered or otherwise protected by law. These include the Cruz Money logo. You are not permitted to use any trademarks, logos, service names or trade names appearing on the App. 11.3. We grant you a non-exclusive and non-transferable licence to use the App for your own personal use. You may not download (other than page caching) or modify the App or any portion thereof.
Privacy
12.1. Your privacy is important to us. We collect, share and use your customer information in accordance with our privacy policy https://www.cruz.money/privacy. The Privacy Policy forms part of these Terms.
12.2. You agree that, by using the App or communicating with us, you have read the Private Policy, understood its contents and consented to its requirements.
Electronic communications
13.1. You accept and agree that:
(a) any communications, agreements, notices and/or any other documents (together Communications) relating to your Account or your use of App and Services will be provided to you electronically only by posting them on the Cruz Money website, emailing them to the email address you have provided to us, or through any other form of electronic communication such as Short Message Service. No Communication will be provided to you other than electronic means. You consent to receiving all Communications from us electronically; (b) you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address; and (c) you assume full responsibility for providing Cruz Money with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept safe and up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your Account and accessing the Settings page in the App and contacting us, or contacting our team using the email below.
13.2. You may at any time withdraw your consent to receiving Communications electronically by contacting privacy@cruz.money. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your Account at risk (see Clause 15, Account Security) and that Cruz Money reserves the right to close your Account in the event that you fail to give, or withdraw, your consent to the receipt of Communications electronically.
Identity verification
14.1. To ensure we meet the requirements in the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), and any related rules and regulations (collectively, the AML/CTF Obligations), we are required to collect your Personal Information to verify the identity of you as well as certain information of any of your beneficial owners. our customers are required to provide certain personal details and documents when opening an Account (Identity Verification).
14.2. We may at any time request further information from you to verify your identity and/or the source of monies credited or to be credited to your Account and you agree to meet our request. If you do not provide us the information as requested, or there is a delay in you providing this information to us, we may not be able to open your Account, or may suspend your access to the App.
14.3. We may disclose your Personal Information to a Credit Reporting Body to verify your identify and obtain an assessment of whether the information you have provide us with matches the information provided by the Credit Reporting Body.
14.4. In order to open an Account, your identity must be verified by us or Third Party Service Providers. Cruz Money implements and maintains high standards of Know Your Customer (KYC) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. Cruz Money utilises Third Party Service Providers to perform these checks.
14.5. You accept and agree that we may also perform enhanced due diligence (EDD) procedures in relation to your Account.
14.6. Cruz Money reserves the right to, at any time, to: (a) restrict or suspend your Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or (b) terminate your Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.
14.7. You accept and agree that there may be delays in accessing your Account, or in carrying out transactions through your Account, while we undertake any Identity Verification and/or EDD procedures.
14.8. We are not liable for any loss incurred by you as a result of any action of us which either delays an Account being opened or results in the provision of the Service postponed, when these actions are necessary for us to comply with its AML/CTF Obligations.
Account security
15.1. Security and customer safety is always our top concern, however, you will remain responsible for, including but not limited to: (a) maintaining security and control over the email mailbox, phone number and phone associated with your Account, this includes, among others, ensuring you lock your phone, have a password or biometric authentication over access controls to your phone; (b) maintaining adequate security and control over your Account sign-in details, including but not limited to any passwords (Account passwords, or passwords which grant access to your phone) any other codes associated with your Account; (c) maintaining adequate security and control over your other accounts (Facebook, Google and Apple), and (d) keeping your contact details up to date so that you can receive alerts we may send to you.
Failure to do so may result in adverse results like unauthorised access to your Account and potential theft or money laundering.15.2. Cruz Money shall have no liability to you for or in connection with any unauthorised access to your Account, where such unauthorised access was due to no fault of us, and/or any failure by you to act upon any notice or alert that we send to you. The security of your Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. We strongly recommend being vigilant of potential scams and frauds when it comes to investing.
15.3. Care should be taken when reviewing communication which seems to be sent by Cruz Money as there is always a possibility of a phishing attempt. We will always send emails from our official domain @cruz.money.
15.4. To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your Account and accept all risks of any unauthorised or authorised access to your Account.
Potential Disruption of Service
16.1. Access to the App may from time to time be unavailable, delayed, limited or slowed due to, among other things: (a) hardware failure, including among other things failures of computers (including own computer), servers, networks, telecommunication lines and connections, and other electronic and mechanical equipment; (b) software failure, including among other things, bugs, errors, viruses, configuration problems, incompatibility of systems, utilities or applications, the operation of firewalls or screening programs, unreadable codes, or irregularities within particular documents or other content; (c) overload of system capacities; (d) damage caused by severe weather, earthquakes, wars, insurrection, riots, civil commotion, acts of God, accidents, fire, water damage, explosions, mechanical breakdown or natural disasters; (e) interruption (whether partial or total) of power supplies or other utilities of service; (f) strike or other stoppage (whether partial or total) of labour; (g) governmental or regulatory restrictions, exchange rulings, court or tribunal orders or other human intervention; or (h) any other cause (whether similar or dissimilar to any of the foregoing) whatsoever beyond the control of us.
16.2 If access to the App is unavailable, delayed or limited, or if the App does not operate quickly or efficiently due to any of the reasons listed in Clause 16.1, you may be unable to transmit your instructions, transactions and other matters, or such instructions may not be promptly executed or you may be unable to retrieve information on a timely basis. Accordingly, you agree that you will not use the App for the communication of any instructions to us that are critical or time sensitive. We will not be required to act upon any such types of instructions and will not be liable for any actions taken or omissions to act as a result of any communication from the App or email message you send to us. If your operations depend on such communications with us, and such communications are disrupted or delayed, you may suffer losses.
16.3 You agree to be solely responsible for the installation, operation and maintenance of the hardware and software necessary to access the App.
Limitation of Liability
17.1. In no event shall Cruz Money, its operating entities, contractors, Third Party Service Providers and affiliates or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to any unauthorised access or breaches of security in connection with your Account and/or the Services, loss of your funds, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, the deletion of, or unavailability of the App, the Account or Services, including without limitation any damages caused by or resulting from any reliance upon any information received from Cruz Money, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a Force Majeure Event, communications failure, theft, destruction or unauthorised access to Cruz Money’s records, programmes or Services. This limitation of liability in clause 17.1 will not extend to any indirect, special, consequential, exemplary or punitive damages or any other damages of any kind suffered by you which are found in a final judgment by a court of competent jurisdiction to have resulted directly from the wilful misconduct, fraud, or gross negligence of Cruz Money.
17.2. Without limitation, Cruz Money does not accept liability for any adverse tax implications of any transfer of funds between your Nominated Account whatsoever.
17.3. You understand that your tax affairs are your own responsibility. You are fully responsible for payment of all other taxes due and for making all related claims, for exemption from withholding taxes or otherwise, for filing all tax returns and for providing relevant tax authorities with all necessary information in relation to Services or any other services that Cruz Money provides to you. Depending on your personal circumstances, you may be entitled to a refund for tax withheld and you are responsible for making such claims to the relevant tax authorities. Tax treatment depends entirely on your personal circumstances and individual status and may be subject to change. Cruz Money will not provide you with any tax, accounting, legal or regulatory advice in respect of the App or the Services.
17.4 Without limiting the generality of the above, in no event will any liability of Cruz Money, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Account, exceed (in aggregate) the fees earned by Cruz Money in connection with your use of your Account in the six month period immediately preceding the event giving rise to the claim for liability, except for any liability which is found in a final judgment by a court of competent jurisdiction to have resulted directly from the wilful misconduct, fraud, or gross negligence of Cruz Money.
17.5. The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.
Risks Warning & Indemnity
18.1. Your Account is not a checking account nor a traditional bank savings account, and it is not covered by insurance against losses. 18.2. While Cruz Money takes steps to protect Direct Debit your funds, you acknowledge that this risk is for your own account. 18.3. If your Nominated Account is a superannuation account, you must ensure that you meet any legal requirements imposed on accessing your superannuation account. We will not be held liable if we Direct Debit funds from your superannuation account (Early Access to Super) and you agree to indemnify us and continue to indemnify us for any losses or penalties incurred as a result of such Early Access to Super being deemed unlawful by any Government Authority. 18.4. By utilising this App, you agree to indemnify, defend and hold Cruz Money, its operating entities or any other affiliates (including their respective directors, members, employees or agents) and Third Party Service Providers (Indemnified Parties or Indemnified Party), harmless against all liabilities, claims, demands, damages, losses, fines, judgments, disputes, costs, charges and expenses (including, without limitation, reasonable legal fees incurred in connection with such claims, or including in respect of any claim for direct, indirect, consequential or pecuniary damages) made by you or others resulting from, arising out of or related to (i) any breach or alleged breach of these Terms, any related policies such as our Privacy Policy and Complaints Policy, (ii) the loss of the funds or interest payable or interest accrued into your Account (whether in whole or in part) (iii) your violation of any law, regulation, order or the rights of a third party, (iv) any unauthorised access or breaches of security in connection with your Account (v) Cruz Money’s or any other Indemnified Parties’ reliance on Account information, transaction instructions, or other information and data furnished by you or (vi) information and data resulting from activities that Cruz Money or any other Indemnified Party undertakes at your request, or at the request of anyone Cruz Money or any other Indemnified Party believes in good faith to be your authorised agent, in providing the App and Services. This indemnity in clause 18.4 will not extend to any liabilities, claims, demands, damages, losses, fines, judgments, disputes, costs, charges and expenses suffered or incurred by Cruz Money which are found in a final judgment by a court of competent jurisdiction to have resulted directly from the wilful misconduct, fraud, or gross negligence of Cruz Money. 18.5. Before using your Account, you should ensure that you understand the risks associated with digital assets and the digital asset lending market. There may be additional risks not identified in these Terms.
18.6. Cruz Money agrees to indemnify you and hold you harmless against all liabilities, claims, demands, damages, losses, fines, judgments, disputes, costs, charges and expenses (including, without limitation, reasonable legal fees incurred in connection with such claims, or including in respect of any claim for direct damages) suffered or incurred by you which are found in a final judgment by a court of competent jurisdiction to have resulted directly from the wilful misconduct, fraud, or gross negligence of Cruz Money.
Restriction, suspension and termination
19.1. Cruz Money reserves the right to restrict, suspend or terminate your Account where we reasonably suspect:
(a) that you may be using the Account in a manner that is inconsistent with the Terms and any applicable Law; (b) your Account is subject to an operational or other error, in which case we may be required to suspend access to your Account until such time as the error is rectified; (c) your Account has been or is being used in relation to any unlawful, fraudulent or Restricted Activities, or in breach of these Terms; (d) you or your Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime; (e) you are taking any action that we consider to be a circumvention of our controls, including but not limited to opening multiple Accounts; (f) we reasonably suspect your involvement in any attempt to gain unauthorised access to any Account; (g) your Account is or appears to be the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your Account; (h) you are subject to an Insolvency Event; (i) we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a Government or Authority; or (j) we reasonably conclude that you, or any person or geography with whom you transact, are / is the subject of any governmental sanctions.
19.2. We will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise our security and/or risk management procedures.
19.3. You accept and agree that Cruz Money is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your Account, and shall have no liability to you in connection with the restriction, suspension or termination of your Account.
19.4. Subject to these Terms, we may reasonably terminate or suspend your Account or your access to any of the Services, by giving reasonable notice to you. We may add or remove, suspend, stop, delete, discontinue or impose conditions on your Account or Services or any feature or aspect of your Account and/or the Services. We will take reasonable steps to notify you of termination or these other types of Cruz Money service changes.
19.5. You are permitted to terminate your Account by giving reasonable notice to Cruz Money (which shall not be less than 7 days’ written notice) if you receive a notice that Cruz Money will increase the fees payable by you in connection with your use of the Account.
19.6. You are permitted to terminate your Account on written notice to Cruz Money (which shall not be less than 7 days’ written notice) if:
(i) Cruz Money has breached a material term of these Terms that is not capable of being remedied, or which it has failed to remedy within a reasonable period of time (being 30 days or such longer period of time as agreed with you (acting reasonably); or (ii) an Insolvency Event occurs in respect of Cruz.
Dispute resolution 20.1. If you wish to raise a dispute or submit a complaint to us, please contact us on jess@cruz.money
20.2. Disputes should be raised with us as soon as reasonably practicable. To the maximum extent permissible by law, you and Cruz Money each agree that each may bring any dispute against the other only in your or its individual capacity, and you and it waive any right to commence or participate in any class action or other representative action or proceeding against the other. Further, where permissible by law, unless both you and Cruz Money agree otherwise, no court may consolidate any other person’s claim(s) with your Dispute, and may not otherwise preside over any form of representative or class proceeding. For the avoidance of doubt, if this class or representative action waiver is found by any court of competent jurisdiction to be invalid, void or unenforceable, the remainder of this disputes clause shall remain valid and enforceable.
20.3. The purpose of the complaints policy as described here below, is to set out how Cruz Money will deal with customer complaints (Complaints Policy).
20.4. Cruz Money values customer feedback and views customer complaints as a mechanism to provide us with valuable feedback and an opportunity for us to learn and improve the operations of our business, in addition to complying with the relevant regulatory and legislative requirements in providing customers with all the information they need to raise a complaint with us.
20.5. If you would like to provide us feedback or a suggestion, please contact us through the App, or contact us on jess@cruz.money.
20.6. If you are dissatisfied or have a complaint about Cruz Money, please contact us via email at jess@cruz.money, with the subject heading: ‘Complaint’. When lodging a complaint with us, please provide us with your:
(a) Full name; (b) Contact details; (c) Details of your complaint; and (d) the outcome you are seeking.
This is a free service.
20.7. Once we receive your email, we will:
(a) Acknowledge and record your complaint within 24 hours; and ASIC Regulatory Guide 271 ‘Internal Dispute Resolution’ requires a complaint to be acknowledged within 24 hours of receipt of that complaint.
(b) try to resolve your complaint immediately, where reasonably possible,
if we are unable to resolve your complaint, we’ll investigate your complaint and provide an appropriate resolution and response within 30 days of receiving your complaint. If we are unable to resolve your complaint within these timeframes, we will inform you. If you do not receive a response from us within these timeframes, or are unsatisfied with our response to your complaint, please let us know using the above contact details, and we will try our best to address your concerns.
Important Statements
21.1. Cruz Money is not a bank
Cruz Money is a financial technology company and a corporate authorised representative of Hard Line. Cruz Money is not an ADI.
21.2. No Warranty
The App and Services are provided "as is" and on an "as available" basis. To the maximum extent permitted by applicable Laws, Cruz Money disclaims all warranties, express or implied, including any warranties of fitness for a particular purpose, merchantability, data loss, noninfringement, or the accuracy, reliability, quality of any information or content in or linked to the Service. Cruz Money does not warrant that the Service will be completely secure, free from bugs, viruses, interruption, errors, theft or destruction.
GENERAL TERMS
22.1. Entire Agreement
These Terms, together with the Privacy Policy, Complaints Policy and any other terms and conditions or policies agreed to by you during the life of your Account, constitutes the entire agreement between Cruz Money and you regarding the App and Services and replaces all prior understandings, communications and agreements, oral or written, regarding its subject matter.
22.2. Severability If any court of law, having the jurisdiction, rules that any part of these Terms is invalid, that Clause (or Sub-Clause\) will be removed without affecting the remainder of the Terms. The remaining terms will be valid and enforceable.
22.3. Assignment These terms, and any rights and licenses granted hereunder, may not be transferred or assigned by you and any attempted transfer or assignment will be null and void.
22.4. Survival All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, clauses relating to the suspension or termination of your Account, use of the Website, disputes with Cruz Money and general provisions, shall survive the termination of these Terms.
22.5 Headings
Clause headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms. 22.6. Change of Control
In the event that Cruz Money is acquired by or merged with another entity, we reserve the right, in any of these circumstances, to transfer or assign your Account and the information we have collected from you as part of such merger, acquisition, sale, or other change of control, provided that any transfer or assignment does not cause material detriment or impose a liability on you that would not otherwise arise under these Terms. 22.7. Force Majeure
Cruz Money shall not be liable for delays, failure in performance or interruption of Service which result directly or indirectly from any Force Majeure Event.
You must immediately notify us of any Force Majeure Event and its effect or likely effect and use all reasonable endeavours to minimise the effect of the event of Force Majeure and to bring it to an end. 22.8. Taxes
You are solely responsible for determining and paying any income, sales or capital gains taxes to the appropriate tax authorities in connection with any of your activities on the App, including, without limitation, the receipt of any interest. 22.9. Governing Law
This agreement shall be governed by and construed in accordance with the laws of New South Wales, Australia. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof, to the exclusive jurisdiction of the courts of New South Wales, Australia.
Definitions and Interpretation
23.1 In these Terms unless the context requires otherwise:
Account means an account or accounts registered in your name through the App for the purposes of receiving the Services.
ADI meansauthorised deposit-taking institution and has the meaning given to this term in the Banking Act 1959 (Cth).
AML/CTF Obligations has the meaning given to this term in clause 14.1.
App means the Cruz Money App also referred to as “Cruz”
AUD means the lawful currency of Australia.
Communication has the meaning given to this term in clause 13.1.
Complaints Policy has the meaning given to this term in clause 20.3.
Content means any content made available on the App.
Credit Reporting Body has the meaning given to this term in the Privacy Act 1988 (Cth).
Direct Debit Request or DDR means the written, verbal or electronic request (including a Direct Debit request service agreement) between you and us, which authorises us to undertake a Direct Debit, including an eDDR.
Direct Debit means a debit from a Nominated Account.
EDD has the meaning given to this term in clause 14.5.
eDDR means a paperless Direct Debit Request that is produced, displayed and authorised via electronic means. These requests can be managed by your system, our system or by Third Party Service Providers.
Force Majeure Event means an event beyond the reasonable control of the affected Party, including but not limited to strikes, lock-outs or other industrial disputes (whether involving the workforce of that Party or any other Party), failure of a utility service or transport network, act of God, epidemics and pandemics, war, riot, civil commotion, strike, malicious damage, compliance with any Law or governmental direction or order including health orders, rule, regulation or direction, act of civil or military authority , accident, breakdown of plant or machinery, computer virus, infiltration or hacking by a third party or failure or interruption of electrical, telecommunications or other utility services, fire, flood, storm or other natural disaster or default of suppliers or subcontractors.
Government Authority means any federal, state, local, foreign or international court, government, department, commission, board, bureau, agency, official or other regulatory, administrative or governmental authority.
Identity Verification has the meaning given to this term in clause 14.1
Insolvency Event means, in respect of a party:
(a) the party is presumed insolvent under the Corporations Act 2001 (Cth);
(b) an administrator is appointed;
(c) the party is placed into court appointed liquidation, members’ voluntary liquidation, or creditors’ voluntary liquidation, or, if applicable, the party commits an act of bankruptcy under the Bankruptcy Act 1966 (Cth) (or its equivalent in the place the party ordinarily resides).
KYC has the meaning given to this term in clause 14.4.
Laws means:
(a) statutes, statutory regulations, by-laws, ordinances, orders, awards and proclamations of the government or governmental, semi-governmental, public or statutory bodies in Australia; and (b) (b) Industry Codes including but without limitation any binding requirements and mandatory approvals (including conditions) of the government in Australia.
Personal Information means your name, address, date of birth, credit card details, Account login details, Nominated Account details, broker login details and any other information you have entered into the App about yourself.
Nominated Account means any account in your name (or that you have an interest in) that you have provided details to us.
Restricted Activities has the meaning given to this term in clause 7.2
Service has the meaning given to this term in clause 4.1.
Third Party Material has the meaning given to this term in clause 8.4.
Third Party Service Provider has the meaning given to this term in clause 8.1.
Website has the meaning given to this term in clause 2.
23.2 In these Terms unless the context requires otherwise:
(a) the singular includes the plural and vice versa; (b) a gender includes other genders; (c) the headings are used for convenience only and do not affect the interpretation of these Terms;
(d) other grammatical forms of defined words or expressions have corresponding meanings;
(e) a reference to a document includes the document as modified from time to time and any document replacing it;
(f) a reference to a party is to a party to these Terms and a reference to a party to a document includes the party's executors, administrators, successors and permitted assigns and substitutes;
(g) if something is to be or may be done on a day that is not a Business Day then it must be done on the next Business Day;
(h) the word "person" includes a natural person, partnership, body corporate, association, governmental or local authority, agency and any body or entity whether incorporated or not;
(i) the word "month" means calendar month and the word "year" means 12 months;
(j) the words "in writing" include any communication sent by letter, facsimile transmission or email or any other form of communication capable of being read by the recipient;
(k) a reference to a thing includes a part of that thing;
(l) a reference to all or any part of a statute, rule, regulation or ordinance (statute) includes that statute as amended, consolidated, re-enacted or replaced from time to time;
(m) wherever "include", "for example" or any form of those words or similar expressions is used, it must be construed as if it were followed by "(without being limited to)";wherever "include", "for example" or any form of those words or similar expressions is used, it must be construed as if it were followed by "(without being limited to)";
(n) money amounts in these Terms, the Website and the App are stated in Australian currency unless otherwise specified;
(o) a reference to time is to Melbourne, Australia time;
(p) any agreements, representation, warranty or indemnity in favour of two or more parties (whether those parties are included in the same defined term or not) is for the benefit of them jointly and separately; and
(q) any agreements, representation, warranty or indemnity by two or more parties (whether those parties are included in the same defined term or not) binds them jointly and separately.
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