BANO PTY LTD ACN 643 206 431 trading as Bolt Financial Group (Bolt)

1. Overview

1.1 This Agreement includes:

1. any other terms and conditions that may apply to the services that we provide to you;
2. the Account Opening Form; and
3. the PDS that has been provided to you.

1.2 However, in the event of any inconsistency between this Agreement and other contracts or documents, exchanged and/or executed between you and Bolt, the PDS, as it applies, shall prevail to the extent of the inconsistency, and with respect to any other inconsistency, this Agreement shall prevail.

1.3 In the event of any inconsistency between the English language version of each of the documents described in clause 1.2 above and their translated equivalent in any other language, the English language version shall prevail, to the extent of any inconsistency.

2. Our Services

2.1 Bolt does not provide Personal Advice, if Bolt provides you with General Advice then you acknowledge that the advice is general only and does not consider your personal objectives, circumstances or needs. You must consider your own personal objectives, circumstances or needs as well as the relevant PDS, before making a decision to use Bolt's services. General Advice is provided by Bolt without charge.

2.2 Bolt has contractual relationships with Third Parties (including a Payment Processor), providing a legal framework for each white labelled or other service provided to you. To use these services, you may be required to read, acknowledge and accept additional terms and conditions and/or enter into a separate agreement with the Third Party.

2.3 You should not use Bolt's services if you do not fully understand the risks associated with them. From time to time, Bolt may appoint agents to assist it in providing its services under this Agreement.

2.4 Bolt's services are subject to change at any time without notice and may contain errors.

2.5. To use the Services you may be required to enter into agreements with the Payment Processor and/or other Third Parties and to accept additional terms and conditions of service.

2.7. You acknowledge that Bolt and the Payment Processor may act as your Associate or Agent, as the case may be, in relation to the collection of Payments into either your Payment Wallet or Bolt's Settlement Account.

2.8. To qualify for use of services, you must:

1. be approved by Bolt, the Payment Processor and/or other Third Parties in respect of your application for the services;
2. agree to the use of Bolt's Settlement Account as your nominated settlement account for your Payments; and
3. pay any applicable fees and charges in respect of you use of the services.

2.9. You acknowledge that there is no joint venture, partnership or employment relationship between you and Bolt or any Third Party.

2,10. Our contractual agreements with the Payment Processor and other Third Parties may require us to enforce your obligations against you if you breach them.

3. Account Opening

3.1 To open an Account, you must complete an Account Opening Form.

3.2 You must provide Bolt with accurate, complete and current information as requested in the Account Opening Form, and notify Bolt of any changes to the information provided.

3.3 Bolt reserves the right to refuse to provide you with an Account and is not required to provide you any reasons for its decision.

3.4 Bolt may hold or suspend access to your Account at any time if Bolt reasonably believes that fraud is involved, that there is a risk associated with your Bolt Account, or that you have breached this Agreement or any applicable Laws.

4. Authorised Users

4.1 You shall provide Bolt with a list of people authorised to access Bolt's services and/or enter into Transactions on your behalf (each an Authorised User).

4.2 You shall immediately notify Bolt when:

1. any new person becomes an Authorised User; or
2. any existing Authorised User is no longer entitled to be an Authorised User.

4.3 Upon Bolt receiving such Notice, the change in Authorised User is effective immediately subject to us collecting and verifying identification documents to our satisfaction. However, the Notice shall not affect any Transactions already executed.

4.4 Any appointment of an Authorised User shall remain in full force and effect as an appointment in writing required by the Agreement unless and until Notice of cancellation of appointment and/or replacement has been delivered to Bolt's registered office.

4.5 All Instructions given and accepted by an Authorised User will be deemed to be Instructions authorised by you and shall be binding upon you.

4.6 Until you have provided a Notice to Bolt to the contrary, Bolt may continue to assume that all existing Authorised Users have authority to execute legally binding Transactions with Bolt.

4.7 You hereby indemnify and agree to hold Bolt harmless in respect of any loss incurred by an Authorised User entering into any Transaction contemplated under this Agreement.

4.8 You will take reasonable steps to ensure that each Authorised User complies in full with this Agreement.

4.9 Bolt reserves the right at any time to refuse the appointment or continuation of an Authorised User without reason.

5. Bonus Payments

5.1 Bolt may, in its absolute discretion choose to provide a bonus payment to You in relation to the balance of your Account.

5.2 If Bolt chooses to make a bonus payment to You based on the balance of your Account, that payment will be made at the end of the month.

6. Adding Money To Your Payment Wallet

6.1 Money can only be added to your Payment Wallet by:

1. transferring funds in a Supported Currency from a bank account held in your name with a bank
2. a third-party transferring funds in a Supported Currency from their bank account; and
3. a third-party transferring funds in a Supported Currency from their account held with Bolt;
4. a third-party transferring funds in a Supported Currency from an account held with another institution or service provider,

6.2 Bolt will credit your Payment Wallet with funds received on your behalf upon receipt of the cleared and settled funds.

6.3 The Payment Wallet can only hold funds denominated in a Supported Currency. If funds in a currency other than in a Supported Currency are transferred to the Account, they will be marked as a pending deposit and will only be settled once you have undertaken or otherwise authorised an FX Conversion in respect of those funds or Bolt has settled the funds to a Supported Currency of Bolt's choosing.

6.4 You agree and acknowledge that Bolt may refuse to accept or may return any payment of money made into your Payment Wallet, and that Bolt does not accept any liability or responsibility for any loss, cost (including any foreign currency conversion costs) or expense incurred or suffered by you in connection with such non-acceptance or return.

6.5 Bolt may set minimum and maximum deposit amounts and vary them from time to time. Such minimum and maximum deposit amounts will be published on the Website and on the Bolt Application.

6.6. You acknowledge and agree that any money paid to you will first be directed into Bolt's Settlement Account, before being distributed to your Payment Wallet or otherwise dealt with. You authorise us or the Payment Processor as the case may be to credit any money due to you to the Settlement Account.

6.7. All funds processed will be disbursed to your Payment Wallet as soon as reasonably practicable.

6.8. We accept no responsibility for delays in processing Payments, regardless of the reason for the delay (including holidays, late payment instructions and the actions or inaction of Third Parties or other persons).

6.9. The Payment Processor or Bolt is entitled to retain any interest or other financial benefit accruing as a result of monies being held in the Bolt Settlement Account.

6.10. We may adjust any Payment by debiting the Bolt Settlement Account, without prior reference to you, where a Payment was made in error, is suspected of being fraudulent in nature or where we are otherwise required to do so.

6.11. Any fees payable to Bolt will not be refunded where an Adjustment is processed in relation to the original Payment.

6.12. If you have not paid any amount (including fees payable to Bolt and Chargebacks and whether contingent or otherwise) at any time due and payable by you to us or we are not able to process an Adjustment, you authorise us to apply Payments that have been received or are later received in Bolt's Settlement Account, in and towards satisfaction of those amounts.

6.13. You acknowledge and agree that failure to maintain the Initial Minimum Balance at the required level in your Payment Wallet or Card may result in the suspension or cancellation of the services.

6.14. You acknowledge and agree that in the event there are insufficient funds in your Payment Wallet to meet your settlement obligations on any day, you must rectify the deficiency immediately by providing sufficient cleared funds to enable you to meet your settlement obligations and take all other steps reasonably required by Bolt to prevent further deficiencies.

7. Providing Instructions

7.1 When you, or an Authorised User, contact Bolt electronically or otherwise by the Internet, or by telephone, Bolt may, but is not obliged to, ask for or clarify the following information where applicable:

1. your Account number;
2. your further identification details;
3. the Transaction type (i.e. deposit, transfer, FX Conversion);
4. the Transaction amount;
5. the beneficiary details (i.e. name, account details); and
6. any identification reference you would like to be sent with the payment instruction.

7.2 Collectively, though not exhaustively, the information referred to in clause 7.1 or any portion thereof, constitutes the “Instructions”

7.3 Bolt is not obliged to act on any Instruction unless it has been validly submitted. Bolt may also request that you provide it with further information or documentation in respect of any Instruction.

7.4 You shall indemnify Bolt for any error made by you or an Authorised User in providing Instructions to Bolt.

8. Payment Transactions

8.1 If you provide Instructions in relation to a Payment Transaction, Bolt will immediately provide you with, either via the Internet, Bolt Application or verbally, the details outlining the payment and beneficiary information. These are the Payment Transaction Terms. You are required to check Payment Transaction Terms carefully. A Payment Transaction may be undertaken contemporaneously, or immediately following, an FX Conversion.

8.2 If you or an Authorised User, indicate by clicking the relevant button on the Bolt Application (or by telephone where the Bolt Application is not available) that you accept the Payment Transaction Terms, then you will be bound by the Payment Transaction Terms and this Agreement.

8.3 Bolt may set minimum and maximum transaction values in relation to Payment Transactions and vary them from time to time. Such minimum and maximum transactions values will be published on the Website and on the Bolt Application.

8.4 Bolt will not process any Payment Transaction unless you:

1. have sufficient cleared funds in your Payment Wallet taking into account any fees or costs associated with the Payment Transaction; and
2. provide us with the beneficiary bank account details. It is your responsibility to ensure that you provide us with the correct beneficiary account details, and where the payment is subject to an FX Conversion that will convert the funds to a Supported Currency, that the beneficiary account or destination is denominated in or otherwise supports the relevant Supported Currency which is being transferred under the Payment Transaction.

8.5 In the event that Bolt completes a Payment when you do not have sufficient cleared and settled funds in your Payment Wallet (including where a payment to your Payment Wallet is disputed or reversed), you will be liable to Bolt for the amount of the Payment Transaction plus interest at the rate of 3% per annum above the then current overdraft rate of Bolt's bank, calculated on a daily basis up to and including the date of repayment in full.

8.6 If a Payment Transaction is made in a Supported Currency and the beneficiary bank does not accept or otherwise accommodate the Supported Currency, then the beneficiary bank (or other intermediaries) may convert the Supported Currency to another currency which is compatible with the beneficiary bank account. The conversion may be subject to fees and charges, which will be deducted from the funds received by the beneficiary.

8.7 If we receive an Instruction from you in relation to a Payment Transaction before 5 pm (AEST) on a business Day, your Instruction(s) will be deemed to have been received by us on that business Day. If your Instruction(s) in relation to a Payment Transaction is received after 5 pm (AEST) on a business Day or on a day that is not a business Day, your Instruction(s) will be deemed to have been received in the next business Day.

8.8 Bolt is not responsible for any delays caused by a beneficiary bank in processing a Payment Transaction. Accordingly, Bolt cannot guarantee that the beneficiary's bank will make funds available to the beneficiary on the day that it receives payment.

8.9. In order for Bolt and any Third Parties to comply with their regulatory and compliance obligations for anti-money laundering and counter financing of terrorism, you are advised that:

1. transactions may be delayed, blocked, frozen or refused where there are reasonable grounds to believe that they breach Australian law or the law or sanctions of any other country. Where Transactions are delayed, blocked, frozen or refused, Bolt is not liable for any loss suffered (including consequential loss);
2. where legally obliged to do so, Bolt or Third Parties may disclose the information gathered to regulatory and/or law enforcement agencies, other banks, and service providers who conduct activities on Bolt or Third Party's behalf; and
3. where Bolt or a Third Party has reasonable grounds to believe that a suspicious matter has arisen, it is obliged to complete a report to the Australian Transaction Reports and Analysis Centre (AUSTRAC). A suspicious matter includes any Transaction that Bolt or a Third Party believes may be of relevance to the investigation or prosecution of any breach or attempted breach of an Australian law (including laws related to money laundering, tax evasion, financing of terrorism or the proceeds of crime).

8.10. Bolt will not initiate or conduct a Transaction that may be in contravention of Australian law or the law of any other country.

9. FX Conversions

9.1 Bolt offers an FX Conversion service where you can convert one currency to another currency in real-time. The FX Conversion will only be available with Supported Currencies.

9.2 If you provide Instructions in relation to an FX Conversion, Bolt may provide you with, either via the Internet, Bolt Application or verbally, the details outlining:

1. the indicative FX Exchange Rate;
2. the funds you need to pay to Bolt to undertake the FX Conversion;
3. the estimated funds you will receive from the FX Conversion. These funds may be used to facilitate a Payment Transaction.

These are the FX Conversion Terms. You are required to check the FX Conversion Terms carefully.

9.3 If, within the time specified by the Bolt Application, you or an Authorised User indicate by clicking the relevant button on the Bolt Application (or by telephone where the Bolt Application is not available) that you propose to enter into the FX Conversion Terms, then you will be bound by the FX Conversion Terms and this Agreement. In these circumstances, Bolt will immediately deduct the relevant proceeds due and payable in connection with the FX Conversion from your Payment Wallet.

9.4 An FX Conversion cannot be cancelled or reversed once the FX Conversion Terms have been accepted.

9.5 If the FX Conversion Terms are not accepted within the time period specified by the Bolt Application, they will lapse and cannot be accepted.

9.6 Bolt may set minimum and maximum transaction values in relation to FX Conversions and vary them from time to time. Such minimum and maximum transactions values will be published on the Website and on the Bolt Application.

9.7 Bolt will not process any FX Conversion unless:

1. you have sufficient cleared funds in your Payment Wallet in the relevant source currency to cover the full amount of the FX Conversion; and
2. if the converted funds:
1. are used to make a payment from the Payment Wallet, the funds must be denominated in a Supported Currency (we will not undertake an FX Conversion on currencies which are not Supported Currencies); or
2. are used to receive funds transferred to the Payment Wallet, the funds must be denominated in in a Supported Currency.

9.8 Subject to the terms of this Agreement, Bolt will process and settle each FX Conversion immediately upon acceptance by Bolt of the request to enter into an FX Conversion in accordance with the FX Conversion Terms.

9.9 Notwithstanding any other provision of this Agreement, Bolt may in its absolute discretion refuse to enter into, or cancel an FX Conversion at any time, including after you have accepted the relevant FX Conversion Terms. Bolt does not accept any liability or responsibility for any loss, cost (including any foreign currency conversion costs) or expense incurred or suffered by you in connection with such refusal or cancellation.

10. Bolt's Authority

10.1 In submitting an Instruction, you appoint Bolt as your agent to do all things necessary to give effect to your Instruction.

10.2 You authorise Bolt to conduct Transactions in relation to your Account as far as is necessary to give effect to your Instructions.

11. Method And Timing of Payment

11.1 You must not deposit physical cash into Bolt's accounts under any circumstances. Bolt has absolute discretion as to whether you may pay by cheque.

11.2 Any sums that you owe to Bolt must be paid in one of the following:

1. by online bank transfer;
2. by same day bank transfer;
3. by cheque (with the consent of Bolt);

11.3 You must have sufficient cleared funds deposited in your Payment Wallet before Bolt will execute your Instructions and effect Transactions for you.

11.4 Bolt 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 Bolt's services.

12. Authorisation Limits

12.1 Bolt may, at its own discretion, impose an authorisation limit on you at any time, by providing Notice before the imposition of the limit.

13. Cancellation Of A Transaction

13.1 If, after a Transaction has been executed you inform Bolt that you wish to cancel the Transaction, or this Agreement allows Bolt to treat you as having terminated the Transaction or this Agreement, Bolt may terminate at its complete discretion either the Transaction alone or the Transaction and this Agreement.

13.2 If you cancel a Transaction, you are liable for any loss or damage suffered by Bolt.

13.3 Bolt reserves the right to charge an administration fee representing its administration costs in cancelling a Transaction.

13.4 You acknowledge that it may not be possible to cancel or alter a Transaction and agree that Bolt will not be liable for any loses in the event that a Transaction cannot be cancelled.

14. Payment Recall

14.1 If you wish to recall a Transaction which was made in accordance with your Instructions, Bolt will use reasonable endeavours to assist you to recall the payment.

14.2 You agree to indemnify Bolt in relation to any recall request.

14.3 You acknowledge and agree that Bolt will not be liable in the event that a payment cannot be recalled, including where the beneficiary of the payment is required to provide their consent to the recall and refuses to do so.

14.4 Bolt reserves the right to charge an administration fee representing its administration costs in attempting to recall a Transaction.

14.5 If:

1. the original Transaction subject to the recall; or
2. money which is returned from the recall,

is not denominated in in a Supported Currency, then Bolt may at its absolute discretion convert the funds into in a Supported Currency. Any costs or charges incurred in administering any currency conversion or recall will be deducted from the amounts which are returned to your Payment Wallet.

14.6 In the event that you receive a payment into your Payment Wallet by mistake (where for example, a third party mistakenly transfers money to your Payment Wallet), you acknowledge and agree that we may deduct that amount from your Payment Wallet and return it to the person who made the mistaken payment.

15. Payment Reversals And Removal Of Funds

15.1 Bolt may, without notice, reverse a Transaction or remove funds from your Payment Wallet in certain circumstances, including 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.

15.2 If a Transaction is reversed, Bolt 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 deducted from the amounts which are returned to your Payment Wallet.

15.3 You agree to indemnify Bolt in relation to any payment reversal or removal of funds.

16. Chargebacks

16.1 You must not chargeback, recall or cancel any Transaction you make to transfer funds to your Account.

16.2 If you seek to chargeback, recall or cancel any Transaction you make to transfer funds to your Payment Wallet, you will be liable to Bolt for any fees that Bolt incurs as a result. Bolt may deduct such fees from your Payment Wallet.

17. Delay

17.1 Bolt will use all reasonable efforts to process your Transaction(s) in a timely basis. However, Bolt 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).

18. Request Money Feature

18.1 Bolt may offer you the ability through the Bolt Application to request payments from third parties through the Request Money feature.

18.2 The Request Money feature enables you to send a notification to a third party (either another Bolt Account holder or an individual without a Bolt Account) requesting that they make a payment to Your Bolt Account.

18.3 In using the Request Money feature you warrant that you are using the feature in good faith for a lawful purpose.

18.4 Bolt maintains the right to revoke your access to the Request Money feature at any time in its absolute discretion.

19. Requirements for obtaining the services

19.1 Clients who wish to access any of the US Share Trading Service must:

1. open a US Share Trading Account using the Application Forms available on the Bolt Application;
2. open a broking account with the US Broker and authorise Bolt to provide trading instructions to the US Broker on Your behalf. By doing so, You agree to be bound by the US Broker's T&Cs as amended from time to time;
3. appoint Bolt as your agent for the purposes of providing US Trade instructions through the US Share Trading Service;
4. provide Bolt with your TFN; and
5. complete all required forms including W-8 forms and other forms required by the US Inland Revenue Service.

19.2 Bolt may suspend your access to any of your US Share Trading Service where:

1. Bolt considers it reasonably necessary to do so to prevent a breach of these Terms;
2. required by Bolt's policies and procedures in relation to meeting its AML/CTF obligations; or
3. Bolt is required to do so by law.

20. Client Representations and Warranties

20.1 You warrant that you are of full age and capacity.

20.2 You warrant that all Transactions entered into, and this Agreement, are and will constitute your legally binding and enforceable obligations.

20.3 You represent and warrant to Bolt that:

1. 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;
2. all information provided by you to Bolt is true, correct and complete, and you will notify Bolt promptly of any changes to such information;
3. all information provided by you to Bolt 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;
4. you shall make ongoing disclosure to Bolt of any matters that may affect the operation of this Agreement;
5. 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;
6. the information on the Website will not be used for unlawful or unauthorised purposes;
7. you will not use the FX Conversion services for hedging, speculative or investment purposes;
8. you are not subject to an Insolvency Event; and
9. you will not “deep-link” the Website, resell or permit access to the Website to others or copy any materials appearing on the Website for resale or for any other purpose without the prior written consent of Bolt.

20.4 You acknowledge that Bolt:

1. will provide the services contemplated by this Agreement to you in reliance on the representations and warranties made by you;
2. provides general advice and execution-only services and the final decision to enter into a Transaction is always your own; and
3. 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.

21. Use of Personal Information

21.1 Personal Information collected by Bolt is treated as confidential and is protected by the Privacy Act (Cth) 1988, as varied from time to time. Bolt will only collect Personal Information which is necessary to perform the services contemplated by this Agreement.

21.2 Bolt will treat your Personal Information in accordance with its privacy policy, which is on the Website, or available by contacting Bolt.

21.3 Bolt 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 Bolt services. Nonetheless, because such information, material and/or data may be provided through the Internet, you hereby acknowledge and agree that Bolt cannot assure that such information, material and/or data will continue to be confidential.

21.4 You accept the risk of a third party receiving confidential information concerning you and specifically release and indemnify Bolt from any claim arising out of a third party intercepting, accessing, monitoring or receiving any communication:

1. you intended to be provided to Bolt; or
2. Bolt intended to be provided to you.

21.5 You acknowledge and agree that Bolt may disclose your name and other Personal Information and financial information about you, and any relevant details of an Authorised User, to Bolt'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 Bolt services, or to comply with applicable Laws.

21.6 The information provided on the Website is to be used for the purpose of you using Bolt's services only, and not for any other purposes. Using the Website does not transfer intellectual property rights to you.

21.7 In appropriate cases all communications and information concerning you held by Bolt, 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 Bolt.

21.8 You agree and consent to Bolt (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.

21.9 You agree and consent to Bolt 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.

21.10 If you provide Bolt with personal information relating to another person, including but not limited to any Authorised Users, you must get consent from that person(s) for you to share such information in accordance with this Agreement and our privacy policy.

22. Using The Bolt Application

22.1 If you or an Authorised User use the Bolt Application, you confirm and accept the following:

1. All Transactions must be completed using the logins and passwords allocated to you by Bolt, and valid entry of such a login and password will constitute an authorisation by you to complete the Transaction specified irrespective of whether the login and password are entered by an Authorised User.
2. You must ensure that the logins and passwords are kept secure and confidential.. You must also ensure that each Authorised User to whom a login and password is provided, will keep them secure and confidential. You will advise Bolt immediately if you have any reason to believe that the login and passwords allocated to you have not been kept secure and confidential.
3. You must ensure that no unauthorised person is able to use the logins and passwords.. As part of this obligation you must ensure that you and each Authorised User quits the Internet browser after using the Bolt Application. If you believe that your logins and passwords are being used by an unauthorised person, you must immediately notify Bolt. You will be responsible for any and all losses, liabilities, actions, proceedings, claims, damages and/or costs resulting from or arising out of any act or omission by any person accessing your Account through your logins and passwords, whether or not you authorised such access.
4. Bolt may at any time, acting reasonably and without Notice to you, suspend, withdraw or deny access to the Bolt Application for any reason including but not limited to security, quality of service, failure by you to pay an amount when due or breach by you of any provision of this Agreement. If and while such access is suspended you will be able to deposit funds into your Account but you will not be able to withdraw or transfer any funds from your Account. To the extent permitted by law, you agree not to make any claim against Bolt in this regard.
5. Bolt may delay, decline or reverse any Instruction if it reasonably suspects that the Transaction might be unlawful or might be associated with crime or if Bolt reasonably believes that by carrying out the Transaction, it might breach any of its obligations, or if you are in breach of this Agreement. Bolt will not be liable to you if we delay, reverse or refuse to carry out your Instruction.
6. If you dispute that you have carried out a Transaction using the Bolt Application, we will investigate. You are required to co-operate with us in relation to any such investigation.
7. By using the Bolt Application, you will be able to:
1. obtain information relating to the balance of, and Transactions undertaken in relation to, your Account;
2. issue Instructions to Bolt;
3. create and manage beneficiary information; and
4. use any other facilities that Bolt may make available from time to time via the Bolt Application.
8. Bolt may change the minimum specification required to access the Bolt Application and may make operational changes to and alter the services currently available at any time. Bolt will notify you of such changes by either placing a message on the Bolt Website, the Bolt Application or by email or SMS.
9. You are responsible for obtaining, maintaining and ensuring compatibility of your electronic software, devices and equipment. Bolt will not be responsible for any loss of or damage to your data, software, computer, electronic devices, telecommunications or other equipment caused by use of the Bolt Application, unless such loss or damage is directly and solely caused by our negligence or deliberate default.
10. You are responsible for ensuring that your electronic devices and equipment are free from viruses and other malware, and Bolt will not be responsible for any losses incurred by your failure to do this. Bolt shall use reasonable endeavours to keep the Bolt Application free from viruses and corrupt files but cannot guarantee that the Bolt Application will be free from infection by viruses or anything else with contaminating or destructive properties. Bolt is not able to guarantee that access to the Bolt Application will be uninterrupted, continuous or error free.
11. You must not:
1. misuse the Bolt Application by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful;
2. attempt to gain unauthorised access to the Bolt Application or any server, computer or database connected to the Bolt Application; or
3. attack the Bolt Application via a denial-of-service attack or a distributed denial-of-service attack.

By breaching this provision, you may also commit a criminal offence. Bolt may report any such breach to the relevant law enforcement authorities and will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use the Bolt Application will cease immediately and without Notice. Bolt will not be liable for any loss or damage caused by a distributed denial-of-service attack, virus or other technologically harmful material that may infect your electronic devices and equipment;

12. You will be liable for all Transactions made when using the Bolt Application including instances of misuse, fraud or abuse by you or Authorised Users or whether you or an Authorised User have disclosed login or password details to a third party;
13. You will not use the Bolt Application for engaging in, whether directly or indirectly, any Illegal Activities.

22.2 Bolt will not accept Instructions face to face at Bolt's Registered Office or any principal place of business.

22.3 If the Bolt Application is unavailable, you or an Authorised User may request Bolt to accept Instructions and enter into Transactions by telephone. Bolt may check the authority of the caller by requesting the caller give his or her name and confirming your identity or the identity of an Authorised User. Bolt may at its discretion ask the caller for additional information to confirm the caller's identity. Upon such check confirming the identity of the caller, Bolt may assume that the caller has the full authority as previously advised by you.

22.4 You acknowledge and agree, and will ensure that each Authorised User acknowledges and agrees, that Bolt may make a recording of any telephone conversation between any person and Bolt at any time. The recording remains the property of Bolt. The telephone recording can be used by Bolt to confirm the terms and conditions of any Transaction where there is dispute with a client as to the terms of the Transaction, and for training, monitoring and compliance purposes.

23. Additional Services

23.1 Bolt may offer additional services through the Bolt Application which require you to accept terms and conditions to access such services.

24. Prizes And Promotions

24.1 Any prize or promotion that requires Bolt to make a payment to you is only made in the course or furtherance of an activity done by you in a private recreational pursuit or hobby

25. Fees And Costs

25.1 We may charge you a fee for providing you with our services under this Agreement. Our fees are published on the Website and Bolt Application and are updated from time to time. We will provide 7 days' Notice of any variation to our fees.

25.2 Bolt 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 new Transactions. If you terminate the Agreement under this clause, all existing Transactions will survive the termination of this Agreement.

25.3 Bolt may deduct any fees owing to it from your Account.

25.4 In some circumstances a number of intermediaries may be involved in a Transaction and may deduct a charge. The receiving bank and other intermediaries may also take a charge. These charges cannot always be calculated in advance, and either you will be liable for these expenses or they will be deducted from the amounts received by the recipient of the Transaction.

25.5 Bolt will not be liable for losses that result from fees under clause 1 being levied. Bolt will use its best endeavours to ensure that all fees associated with a Transaction are disclosed to you on the Bolt Application. However, this may not always be possible.

25.6 Bolt may receive referral fees and/or commissions from product providers and other third parties in connection with its financial products and services.

26. Circumstances Beyond Bolt's Control

26.1 If Bolt is unable to perform its obligations under this Agreement or a Transaction because of factors beyond its control or because of a Force Majeure Event, Bolt will notify you as soon as is reasonably practicable and will use reasonable endeavours to secure the return of any money paid by you in respect of which Bolt has been unable to discharge its obligations under this Agreement.

26.2 In the absence of any fraud, wilful default or negligence on the part of Bolt, Bolt 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.

27. Third Party Content

27.1 You acknowledge that information or data provided by a third party product provider (Third Party Provider) which is not associated with us (Third Party Information), is for informative purposes only and such Third Party Information does not in any way constitute General Advice provided by Bolt.

27.2 Any number of financial products and/or services may be provided through a Third Party Provider. Unless otherwise noted, all authority granted to us, or limitations of liability to us, shall include all members of Bolt, including officers, directors, employees, Representatives and agents.

27.3 You agree that Bolt is not responsible for any Third Party Information and that we make no warranties, express or implied, as to any such Third Party Information. You acknowledge and agree that such Third Party Information does not reflect Bolt's opinions or policies and that Bolt does not verify the accuracy or completeness of such Third Party Information.

27.4 You acknowledge and agree that:

1. Bolt is not responsible for any third party advertisements or third party applications made available to you;
2. you access third party advertisements or third party applications at your own risk;
3. you may not have access to external dispute resolution schemes in relation to your reliance upon any Third Party Information.

28. Termination and Suspension

28.1 This Agreement may be terminated immediately by you or Bolt by giving Notice to the other in writing. However, termination by either party shall not affect any Transaction previously entered into and shall not relieve either party of any outstanding obligations arising out of this Agreement, nor shall it relieve you of any obligations arising out of any Transaction entered into prior to such termination.

28.2 In the event that Bolt is made aware of, or has reason to believe, any of the following:

1. that you have provided false or misleading information to Bolt; or
2. that you have participated or are participating or have assisted or are assisting in money laundering or terrorist financing; or
3. that you are being officially investigated by law enforcement and/or regulatory agencies; or
4. that you have used the Account or any of Bolt's services for engaging in, any restricted or Illegal Activities, including but not limited to terrorist financing, money laundering, distributing or funding drugs or drug paraphernalia, illegal gambling or malicious hacking;

then Bolt, at its sole discretion, may terminate this Agreement immediately by Notice to you, and Bolt at its sole discretion shall be relieved of any obligations set out in this Agreement or arising out of the Transactions contemplated by this Agreement, including any obligations arising out of any Transaction already entered into with Bolt.

28.3 We reserve the right to withhold payment to Account or nominated third party bank account of any amount for such period as we consider reasonably necessary where we have reasonable grounds to suspect you have processed Transactions which are in material breach of these Terms or where we are required to do so by Applicable Law.

28.4 Subject to clause 28.2 and 28.3, upon termination of this Agreement, Bolt will, within 15 business days, return any money held in your Account (less any fees and charges that you owe to us) to an Australian bank account held in your name.

28.5 Bolt may cancel or suspend any part of, or all of the services it provides to you if you fail to provide Bolt with any requested information or funds promptly, if there is suspected or confirmed Illegal Activity or if Bolt has a legitimate business reason to do so.

28.6 Bolt may suspend access to your account, including the card where Bolt's suspects unauthorised activity.

28.7 Bolt may add, remove, suspend, discontinue, or modify all or some of the services. Bolt may at any time impose additional conditions upon use of a service or any feature or aspect of a service.

29. Liability and Indemnity

29.1 You shall indemnify and hold Bolt 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 or an Authorised User's negligence, mistake or wilful misconduct, the violation of any law by you, or the breach by you of any provision of this Agreement.

29.2 You also agree to promptly pay Bolt for all damages, costs and expenses, including reasonable legal fees and expenses, incurred by Bolt in the enforcement of any of the provisions of this Agreement. Your obligations under this Clause 31 shall survive the termination of this Agreement.

29.3 You acknowledge that you will be liable for any losses which may be realised as the result of entering into a Transaction.

29.4 Bolt will use all reasonable endeavours to make payments to you or to any third party specified by you, in accordance with the timing specified in your Instructions. However, Bolt shall not be liable under any circumstances for any direct, indirect or consequential loss (including any loss of profits) incurred as a result of a delay in funds reaching your nominated account.

29.5 Bolt 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 Bolt and be liable for any losses or charges incurred by Bolt arising from such errors that you make.

29.6 Nothing in this Agreement is intended to limit or exclude any liability Bolt 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 Bolt under this Agreement.

30. Amending this Agreement

30.1 The terms of this Agreement and any Transactions under it, may be amended by Bolt at any time. Bolt 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:

1. ten Days after Bolt has posted Notice of the amendment on the Website or Bolt Application;
2. upon providing Notice to you by email; or
3. on the date you enter any transaction after the amendment.

30.2 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 Bolt with regard to Transactions undertaken prior to the termination.

30.3 Any other amendments must be agreed to in writing between you and Bolt.

31. Dispute Resolution

31.1 Except to the extent that this clause is inconsistent with the requirements of any legislative or regulatory regime, the dispute resolution process set out in this clause shall apply. The parties must use all their reasonable endeavours to resolve any dispute arising in connection with this Agreement or any Transactions thereunder.

31.2 If you have a complaint in relation to the Agreement or any aspect of your Account, you should raise this with our Complaints Manager.

31.3 If the parties fail to resolve a dispute within 5 Days of one party giving notice to the other of the dispute, either party may, by giving notice to the other, refer the dispute to the Bolt's Senior Officers who, each party must ensure, must cooperate in good faith to resolve the dispute as amicably as possible within 10 days of the dispute being referred to them.

31.4 This clause, however, does not limit your rights (if applicable) to take a dispute to an external dispute resolution scheme of which Bolt is a member.

32. Notices

32.1 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:

1. 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 Bolt emailing your nominated email address, or by posting a Notice to the Website; and
2. if posted on the Website or Bolt Application, Notice is deemed to have been given 3 Days after the Notice was posted on the Website; or
3. 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.
4. If to Bolt, be sent by prepaid registered mail or delivered by hand to the address of Bolt set out in this Agreement or the PDS, or such other address as Bolt 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.

32.2 Any Notice given or made under this Agreement may also be sent by email if:

1. the Notice is sent to the email address last notified by the intended recipient to the sender; and
2. the sender keeps an electronic or printed copy of the Notice sent.

32.3 A Notice sent by email will be deemed to have been given on the first to occur of:

1. 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;
2. the time that the Notice enters an information system which is under the control of the recipient; or
3. the time that the Notice is first opened or read by an employee or officer of the recipient.

32.4 It is your responsibility to notify Bolt of any changes to your contact details.

33. General

33.1 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.

33.2 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:

1. use the other party's name or Intellectual Property without the prior written approval of the other party; or
2. represent itself as being affiliated with, or authorised to act for, the other party.

33.3 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 Bolt. Bolt 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 client of Bolt. You will execute any documents (including a deed of novation) reasonably required by Bolt to effect such a transfer. If you do not agree to Bolt assigning its rights, you may terminate this Agreement. However, termination in this case does not affect any obligations then owed by you, or rights of Bolt prior to termination of the Agreement.

33.4 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.

33.5 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.

33.6 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.

34. Set Off Against Monies Owed

34.1 In addition to other remedies available to Bolt, if you fail to pay any amount when due under this Agreement, Bolt may, to the extent permitted by Law, set-off such amount against any amount payable by Bolt to you.

34.2 To the extent permitted by Law, Bolt is entitled to set-off against any amounts due to it by you, any amounts received by Bolt from or on your behalf including but not limited to moneys received or held on your behalf. Bolt may determine the application of any amounts which are to be set-off at its own discretion.

34.3 You must not set-off against any amounts you owe to Bolt, any amounts Bolt owes to you.

35. Holding of Funds

35.1 You agree that Bolt may aggregate money paid into your Payment Wallet (the Funds) with funds received from other clients into a single or multiple designated account(s). You consent to and direct Bolt to:

1. retain any interest accrued from time to time on the Funds, and to invest that money;
2. withdraw Funds that constitute remuneration payable to Bolt; and
3. withdraw Funds that Bolt is otherwise entitled to pursuant to Law.

35.2 You authorise and direct Bolt to withdraw, apply or otherwise utilise the Funds:

1. in order to meet obligations (the Obligations) incurred by Bolt in connection with the Transactions;
2. in order to enforce other rights that Bolt has under this Agreement; and
3. for any other reason allowed by Law.

35.3 You agree that when Bolt uses the Funds for a lawful purpose as set out in this clause 35, the Funds do not belong to you and do not constitute a loan or constructive trust in your favour.

36. Definitions And Interpretation

36.1 Whenever used in this Agreement, unless inconsistent with the subject matter or context, the following words shall have the following meanings:

Account

means the account held by a user on the Bolt application.

Account Opening Form

means the form provided by Bolt for completion by you to request an Account.

ADI

means an Authorised Deposit Taking Institution regulated by the Australian Prudential Regulation Authority.

Adjustment

means an amount paid or payable by you, or on your behalf, in relation to a Payment, including a reversal, a refund and an error correction.

Agreement

means these Terms and Conditions together with all other documents which are referred to in these Terms and Conditions.

Bolt

means Bano Pty Ltd ACN 643 260 431 trading as Bolt Financial Group.

Bolt Application

means the application downloaded by a user to a mobile device Client, you or your means the Client named in the Account Opening Form, together with its: (a) subsidiaries, affiliates, successors and/or assigns; and (b) officers, directors, employees and agents.

Card

means a valid financial transaction card issued by a member or affiliate of MasterCard, or UnionPay on which their respective logos appear.

Chargeback

means a debit entry to your Payment Wallet processed by us, or the Payments Processor, and is the reversal of a Payment previously made to your Payment Wallet as the result of an invalid Transaction.

Day

means a day on which commercial banks are open for business in Sydney, New South Wales, Australia.

Force Majeure Event

means events or causes including, but not limited to, the following: an act of God, unavoidable accident of navigation, war (whether declared or not), sabotage, riot, insurrection, civil commotion, national emergency (whether in fact or law), martial law, fire, flood, cyclone, earthquake, landslide, explosion, power or water shortage, failure of a transmission or communication network, epidemic, pandemic, quarantine, strike or other labour difficulty or expropriation, restriction, prohibition, law, regulation, decree or other legally enforceable order of a government agency, breakage or accident, change of International, State or Commonwealth law or regulation or any damage of Bolt's machinery or systems, unless occurring as a result of an act, omission, default or negligence of you or Bolt.

FX Exchange Rate

means, in relation to a FX Conversion, the exchange rate quoted in the FX Conversion Terms to make the FX Conversion.

FX Conversion

means an agreement between the parties to convert one currency for another currency at the FX Exchange Rate.

FX Conversion Terms

has the meaning stated in clause 10.2 of this Agreement.

General Advice

is as defined in the Corporations Act 2001 (Cth), as varied from time to time.

Illegal Activities

means any actual or alleged unlawful or criminal acts including but not limited to money laundering, terrorism financing, fraud or any similar activities.

Initial Minimum Balance

means the amount required from time to time as requested by Bolt to cover exposure such as settlement risk.

Insolvency Event

means any insolvent event and includes circumstances where: (a) you are insolvent or insolvent under administration (as defined in the Corporations Act 2001 (Cth)); (b) an administrator, liquidator, provisional liquidator, controller or any other insolvency official is appointed to you or any of your property; (c) you commit an act of bankruptcy or become a bankrupt (as defined in the Bankruptcy Act 1966 (Cth); (d) you are deregistered for any reason; (e) you are unable to pay your debts as and when they fall due or you threaten to cease payments to creditors.

Instruction

has the meaning given in clause 8.2 of this Agreement.

Intellectual Property

means the trademarks, designs, patents and copyrights of the parties to this Agreement.

Internet

means the interconnected system of networks that connects computers around the world.

Law

means the statutes, regulations and general law of Australia, as varied from time to time.

Monies

has the meaning stated in clause 31.1 of this Agreement.

Notice

has the meaning stated in clause 30 of this Agreement.

Obligations

has the meaning stated in clause 31.3 of this Agreement.

Payment

means an amount received by you, or allocated for receipt by you or on your behalf, in relation to a payment to you, including an amount received by you whether or not it should have been paid to you.

Payment Contract Terms

has the meaning stated in clause 9.1 of this Agreement.

Payment Processor

means any Third Party engaged by Bolt to provide payment processing services in connection with delivery of the services.

Payment Transaction

means a payment to be made from your Account including: (a) payments to a bank account held in your name with an Australian ADI; (b) payments to a third party's bank account held with an Australian ADI; (c) payments to a third party's account held with Bolt; and (d) payments to an account held in your name or a third-party's name with another institution or service provider.

Payment Wallet

means the digital wallet which enables you to receive funds and make payments.

Personal Advice

is as defined in the Corporations Act 2001 (Cth), as varied from time to time.

Personal Information

is as defined in the Privacy Act 1988 (Cth), as varied from time to time.

Product Disclosure Statement or PDS

is as defined in the Corporations Act 2001 (Cth), as varied from time to time, and may be referred to in this agreement as PDS.

Registered Office

means the registered office of Bolt as notified to the Australian Securities and Investments Commission.

Representative

is as defined in the Corporations Act 2001 (Cth), as varied from time to time.

Request Money

is a feature which enables Bolt users to send a notification to a third party (either another Bolt Account holder or an individual without a Bolt Account) requesting that they make a payment to that user's Bolt Account.

Retail Client

means a client of Bolt who is not a Wholesale Client.

Senior Officer

means the Chief Executive Officer, Managing Director or “officer” as defined in the Corporations Act 2001 (Cth), as varied from time to time, of Bolt, and in the case of Bolt includes an employee, director or consultant nominated by Bolt as the Complaints Officer.

Supported Currency

means each currency approved by Bolt from time to time that can be used in a Payment Transaction.

Settlement Account

means a trust account held by Bolt through which Payments, Adjustments and other Transactions are processed.

Third Party

means any person with whom we have contracted in relation to our Products and/or Services.

Transaction

means any transaction pursuant to this Agreement and includes a Payment Transaction and FX Conversion.

Website

means the Bolt website located at www.Boltsuperapp.com.

Wholesale Client

has the same meaning as in section 761G of the Corporations Act 2001 (Cth), as varied from time to time.

You or Your

means anyone who (subject to these terms and conditions) utilises Bolt's Products and/or Services described in these terms.