These Terms and Conditions ("Terms") govern the use of the services provided by Bundle Services Pty Ltd trading as Keel Money (41 689 011 087) ("Keel", "Keel Money", "we", "our", "us"). By creating an account or using the Keel Money platform, you agree to be bound by these Terms.
1. Eligibility
1.1 You must be at least 18 years of age and an Australian resident.
1.2 You must successfully complete any required identity verification or anti-money laundering checks (KYC/AML) before accessing certain services.
1.3 You must provide accurate and complete information when registering and when using the Services.
1.4 Services are conditional upon an active PayTo Agreement. If you suspend, cancel, or pause your PayTo agreement via your banking app, Keel Money will immediately cease all outgoing bill payments without notice.
2. Reliance on User-Provided Information
2.1 Keel Money relies entirely on the accuracy, completeness, and timeliness of the information you provide, including but not limited to:
- Biller names, reference numbers, BPAY codes, account details, and payment instructions;
- Your nominated bank account details for direct debit and/or PayTo arrangements; and
- Contact information, including email and residential address.
2.2 Keel Money is not responsible for, and shall have no liability in respect of, any loss, damage, fee, penalty, or charge arising from:
- The provision of inaccurate, incomplete, or outdated information by you; or
- Your failure to update details in a timely manner.
3. Services Provided
3.1 Keel Money facilitates the scheduling and payment of bills on your behalf through the use of "Smart Contributions" aligned with your income cycle. A "Smart Contribution" is a calculated periodic payment based on your aggregated annual bill value, divided by your pay cycles. A Smart Contribution may consist of funds allocated to multiple future bills.
3.2 You explicitly authorise Keel Money to vary the amount debited under your PayTo Agreement in accordance with your fluctuating Bill Smoothing calculations. This authority allows us to increase or decrease your Smart Contribution automatically, without requiring a new mandate, provided the amount does not exceed the "Maximum Limit" (Safety Cap) you set as within your PayTo Agreement.
3.3 Payments are made through third-party providers, including but not limited to BPAY, Monoova, and financial institutions.
3.4 You acknowledge that BPAY and NPP payments require up to 2 business days to clear. Keel Money requires that your Smart Contribution clears into our account at least 2 business days prior to any Bill Due Date. We are not liable for late fees if you schedule a bill within this 48-hour clearance window.
3.5 Keel Money is not a bank, credit provider, or financial adviser and does not provide financial advice.
3.6 Funds held in your Keel Money Ledger do not accrue interest payable to you. Any interest earned on funds held in the pooled Client Account is retained by Keel Money to cover infrastructure and banking costs.
4. Estimated Bills
4.1 Where exact bill amounts or due dates are not available, Keel Money may generate an estimated bill based on historical or user-provided information.
4.2 It is your responsibility to confirm the accuracy of any estimated bill before the scheduled payment date.
4.3 If you do not update or confirm an estimated bill, Keel Money will process the payment using the estimated amount and date.
4.4 Keel Money shall not be liable for any difference between the estimated amount/date and the actual bill issued by the biller, including any shortfall, overpayment, penalty, fee, or service disconnection that may arise.
4.5 You remain solely responsible for ensuring that your bills are paid in full and on time.
5. Fees and Charges
5.1 You agree to pay the fees applicable to the Services.
5.2 Unless otherwise agreed, Keel Money charges service fees on outgoing bill payments according to the following tiered structure:
- AUD $0.50 per transaction for bills under AUD $50;
- AUD $1.00 per transaction for bills between AUD $50 and AUD $249.99;
- AUD $2.00 per transaction for bills of AUD $250 and above.
5.3 Monthly Cap: Notwithstanding the transaction fees listed above, the Total Monthly Service Fees charged to your account shall be capped at AUD $10.99 (including GST) per calendar month.
5.4 Shared Bills: For shared bills, fees are calculated based on the total bill value. Each Co-Contributor is charged a portion of the applicable fee proportional to their share of the bill.
5.5 Collection: Fees are calculated and collected pro-rata at the time of each Smart Contribution (money in).
5.6 Keel Money may amend its fees and charges by providing you with reasonable prior notice via the platform or email.
6. User Responsibilities
6.1 You are responsible for ensuring that sufficient cleared funds are available in your nominated account to meet scheduled contributions and bill payments.
6.2 You must ensure that all biller and payment details entered into the platform are correct and up to date.
6.3 You acknowledge that Keel Money cannot verify the accuracy of biller details provided by you and that incorrect information may result in payments being misapplied.
6.4 You remain liable for all bills, fees, and charges imposed by billers, regardless of whether Keel Money has successfully processed a payment.
6.5 By linking your account to a Shared Bill, you explicitly consent to Keel Money disclosing your contribution status (Paid/Unpaid) to other Co-Contributors linked to that specific bill.
7. Shared Bill Payments
7.1 Where you link your account with other users ("Co-Contributors") to pay a shared bill (e.g., Rent, Electricity, Internet), you agree that Keel Money acts as a payment facilitator for the group. We calculate each Co-Contributor's share independently, but the outgoing payment to the Biller is executed as a single transaction event.
7.2 In the event that one or more Co-Contributors fails to fund their scheduled Smart Contribution (e.g., due to a failed PayTo request or insufficient wallet balance): (a) Keel Money will not cancel the outgoing payment. (b) Keel Money will execute the payment to the Biller using the total cleared funds available from the compliant Co-Contributors at the time of the scheduled batch. (c) You explicitly authorize Keel Money to send this partial amount to the Biller, even if it is less than the total bill face value.
7.3 You acknowledge that a partial payment may result in the bill being treated as "overdue" or "underpaid" by the Biller. Keel Money is not liable for: (a) Any late fees, interest, or penalties applied by the Biller due to the shortfall; (b) Service disconnection (e.g., electricity/internet) resulting from incomplete payment; or (c) Lease breaches, arrears notices, or eviction proceedings resulting from partial rent payments. It remains the joint responsibility of all Co-Contributors to manually pay the outstanding difference directly to the Biller.
7.4 Transparency and Disputes: (a) Keel Money's Transaction Logs will serve as the definitive record of which Co-Contributors successfully funded their share and which failed. (b) You agree that this record may be visible to all Co-Contributors linked to the specific bill for transparency purposes. (c) Keel Money is not responsible for resolving disputes between Co-Contributors regarding unpaid shares or debts owed between household members.
7.5 By linking your account to a Shared Bill, you explicitly consent to Keel Money disclosing your contribution status (Paid/Unpaid) to other Co-Contributors linked to that specific bill.
8. Refunds and Failed Payments
8.1 Service fees are non-refundable except where required by law.
8.2 If a payment fails, Keel Money will notify you and may reattempt the payment.
8.3 Keel Money accepts no liability for penalties, late fees, or service disconnections arising from failed or delayed payments.
9. Limitation of Liability
9.1 To the maximum extent permitted by law:
- Keel Money excludes all warranties, conditions, and guarantees not expressly set out in these Terms;
- Keel Money shall not be liable for any indirect, consequential, or special loss (including late fees, service disconnections, or reputational damage); and
- Keel Money's total aggregate liability in respect of any claim is limited to the total fees paid by you to Keel Money in the three (3) months preceding the claim.
9.2 Nothing in these Terms excludes liability which cannot be lawfully excluded under the Australian Consumer Law.
10. Privacy and Data
10.1 Keel Money will collect, use, store, and disclose your personal information in accordance with its Privacy Policy, which forms part of these Terms.
10.2 You consent to Keel Money sharing your information with third-party providers for the purpose of payment processing, identity verification, compliance, and fraud prevention.
11. Security
11.1 Keel Money implements security measures including encryption and authentication to protect your information.
11.2 You are responsible for maintaining the confidentiality of your login credentials and for all activity conducted under your account.
11.3 Keel Money shall not be liable for losses caused by unauthorised access where you have failed to maintain security of your credentials or devices.
12. Suspension and Termination
12.1 Keel Money may suspend or terminate your account if:
- You breach these Terms;
- You fail to provide accurate or complete information;
- You fail to pass KYC/AML requirements; or
- Fraudulent, suspicious, or unlawful activity is detected.
12.2 You may close your account at any time, subject to the settlement of any outstanding bills, contributions, or fees.
13. Regulatory Disclosures
13.1 Keel Money is not currently licensed by ASIC, and is undergoing the AFSL process currently. Keel Money will not launch until it has received the appropriate regulatory approvals.
13.2 Keel Money is not covered by the Financial Claims Scheme.
13.3 Payments are facilitated by licensed third-party providers, and Keel Money does not hold user funds as deposits.
14. Complaints and Dispute Resolution
14.1 If you have a complaint, please contact us at support@keelmoney.com.au. We will acknowledge and investigate your complaint within a reasonable period.
14.2 If you are dissatisfied with our response, you may have the right to escalate your complaint to the Australian Financial Complaints Authority (AFCA).
15. Amendments to Terms
15.1 Keel Money may amend these Terms at any time by providing notice via the platform or email.
15.2 Your continued use of the Services following notice of changes constitutes acceptance of the revised Terms.
16. Governing Law
These Terms are governed by the laws of New South Wales, Australia, and you agree to submit to the exclusive jurisdiction of the courts of that State.
17. General
17.1 If any provision of these Terms is held invalid, the remainder shall continue in full force and effect.
17.2 Neither party is liable for failure to perform obligations caused by events beyond their reasonable control (force majeure).
17.3 You may not assign or transfer your rights under these Terms without our prior written consent. Keel Money may assign or transfer its rights and obligations without restriction.
Contact Details
Bundle Services Pty Ltd trading as Keel Money
Email: support@keelmoney.com.au