Question 1

What is Keel?

Accepted Answer

Keel is a smart bill-management app designed to eliminate financial stress by smoothing your expenses. We consolidate your irregular bills—like electricity, rent, and subscriptions—into one predictable Smart Contribution that matches your pay cycle.

Question 2

How does it work?

Accepted Answer

1. Link your bills: you tell us what you owe and when. 2. Smart Contribution: we calculate an amount to cover them. 3. Automatic Payment: we pull that amount via PayTo after you get paid and pay your bills 2 days before they are due via BPAY or NPP.

Question 3

Is Keel a bank or a lender?

Accepted Answer

No. Keel is a Non-Cash Payment Facility. We do not provide credit, we do not front money for bills, and we never charge interest. We simply manage the timing of your own money so you're never caught short.

Question 4

Can I split a bill with my partner or housemates?

Accepted Answer

Yes! Keel is built for households. You can invite others to a Split Bill. Each person pays their share based on their own pay cycle. We hold the funds in each user's account. When the bill is due, all shares are paid to the biller.

Question 5

What happens if my housemate doesn't pay their share?

Accepted Answer

Because Keel is not a lender, we cannot front the missing money. The user is notified of the shortfall and asked to top up via PayID. If not completed, all users splitting the bill are notified and offered the opportunity to top up. If payment is due, Keel executes a partial payment to the provider using the funds available and all users are notified.

Question 6

How do you handle bills that change every month (like Electricity)?

Accepted Answer

Users can mark these as an 'Estimated Bill' and enter a nominal amount to start regularly collecting. As the payment date approaches, users are notified at increasing frequency to confirm the true amount. If the actual bill is higher than the smoothed amount, we flag a 'top up required' and ask for a one-off Top Up via PayID so the bill is paid in full and on time.

Question 7

What if I overpay into my Keel wallet?

Accepted Answer

If your Smart Contributions result in a surplus, that money stays in your secure wallet. You can use it to lower future contributions or withdraw it back to your bank account at any time.

Question 8

What does Keel cost?

Accepted Answer

You only pay a small service fee when we successfully pay a bill for you: $0.50 for bills under $50, $1.00 for bills between $50 and $249.99, and $2.00 for bills of $250 or more.

Question 9

Is there a limit to how much I pay in fees?

Accepted Answer

Yes. We have a Hard Cap of $10.99 per month. Once you hit that limit, all other bill payments for the rest of that month are fee-free.

Question 10

Can I get a refund?

Accepted Answer

Your principal funds (the money saved for your bills) are always yours and are fully refundable. Service fees are non-refundable once collected and allocated to a bill, because the service of calculating your smoothing logic and securing those funds has already been performed.

Question 11

Where is my money held?

Accepted Answer

Your funds are held securely in a dedicated virtual sub-wallet created just for you. These funds are kept in trust accounts with Authorised Deposit-taking Institutions (ADIs)—regulated Australian banks—via our payment partner, Monoova.

Question 12

Is my money safe?

Accepted Answer

Absolutely. Your funds are strictly segregated from Keel's operating revenue and business expenses. We use a real-time ledger to ensure every cent is accounted for, and our systems are protected by bank-level encryption.

Question 13

What is PayTo?

Accepted Answer

PayTo is a modern, digital alternative to old-fashioned direct debits. It gives you more control and visibility. You authorize a mandate in your banking app once, allowing Keel to pull your Smart Contribution automatically.

Question 14

What happens if I miss a contribution?

Accepted Answer

If your wallet balance is too low to cover an upcoming bill, we send you a 'Top Up' nudge via push notification and SMS. Because we do not provide credit, we cannot pay a bill if the funds haven't been collected.

Question 15

How do you protect my data?

Accepted Answer

Keel uses PII masking by default—meaning our own staff can't see your sensitive bank details or full email address without a logged, high-level clearance. All data is encrypted at rest and in transit.

Question 16

What is FrankieOne?

Accepted Answer

We partner with FrankieOne to handle our Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. This ensures everyone using Keel is verified, keeping our community and your money safe from fraud.

Question 17

Is Keel regulated in Australia?

Accepted Answer

Keel Money (operated by Bundle Services Pty Ltd) has lodged its application for an Australian Financial Services Licence (AFSL). When approved, we will operate as a Non-Cash Payment Facility. Keel Money will not launch without the appropriate regulatory approvals.

Question 18

Why aren't you a "Credit Provider"?

Accepted Answer

Keel is a budgeting and smoothing tool, not a 'Buy Now, Pay Later' or credit service. We do not provide loans, we do not charge interest, and we do not perform hard credit checks that impact your credit score. We only move money you have already contributed.

Question 19

What is AUSTRAC and why do you need my ID?

Accepted Answer

As a financial service provider, Keel Money is required by law to comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations overseen by AUSTRAC. We use FrankieOne to verify your identity (KYC) to prevent identity theft and fraud.

Question 20

Is my data shared with the government?

Accepted Answer

We only collect the data required by law to verify who you are. Your data is encrypted and handled in accordance with the Privacy Act 1988. We do not sell your data to third parties; it is used strictly for identity verification and transaction monitoring as required by Australian law.

Frequently Asked Questions

The Basics

Split Bills & Households

Estimated & Variable Bills

Fees & Costs

Money & Safety

The Tech

Security

Licensing & Regulation (AFSL)

Compliance & Safety (AUSTRAC)