BOLT NZ PTY LIMITED (NZCN 9280499) — Dated May 2026
These terms and conditions are divided into the following sections and set out the terms and conditions in respect of the products and services that we provide to you:
1.1 This Agreement includes:
1.2 In the event of any inconsistency between this Agreement and other contracts or documents exchanged and/or executed between you and Bolt NZ, 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.
2.1 Bolt NZ does not provide financial advice or recommendations. If Bolt NZ provides you with any information then you acknowledge that the information is general only and does not consider your personal objectives, circumstances or needs. You must consider your own personal objectives, circumstances or needs before making a decision to use Bolt NZ's services.
2.2 Bolt NZ has contractual relationships with Third Parties providing a legal framework for each 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 NZ's services if you do not fully understand the risks associated with them. From time to time, Bolt NZ may appoint agents to assist it in providing its services under this Agreement.
2.4 Bolt NZ's services are subject to change at any time without notice, except that where we believe the change is materially adverse to your interests we will provide you with reasonable prior notice where possible. Bolt NZ's services may contain errors.
2.5 To use our services, you may be required to enter into agreements with other Third Parties and to accept additional terms and conditions of service.
2.6 You acknowledge that Bolt NZ may act as your agent in relation to the collection of Payments on your behalf. Upon receipt of Payments on your behalf, Bolt NZ will hold such funds allocated to your Payment Wallet in Bolt NZ's Settlement Account(s) on bare trust for you (as the ultimate beneficial owner) or in a Foreign Currency Account (as applicable) as set out in clauses 6 and 38. Bolt NZ holds the legal title to such funds and you retain the beneficial ownership of your funds at all times.
2.7 To qualify for use of services, you must:
2.8 You acknowledge that there is no joint venture, partnership or employment relationship between you and Bolt NZ or any Third Party.
2.9 Our contractual agreements with other Third Parties may require us to enforce your obligations under this Agreement against you if you breach them.
2.10 Nothing in this Agreement gives rise to a debt-creditor relationship between you and Bolt NZ.
2.11 Bolt NZ does not issue or offer financial products, or provide discretionary investment management or client money or property services, for the purposes of the Financial Markets Conduct Act 2013.
3.1 To open an Account, you must complete an Account Opening Form.
3.2 You must provide Bolt NZ with accurate, complete and current information as requested in the Account Opening Form, and notify Bolt NZ of any changes to the information provided.
3.3 Bolt NZ 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 NZ may hold or suspend access to your Account at any time if Bolt NZ reasonably believes that fraud is involved, that there is a risk associated with your Account, or that you have breached this Agreement or any applicable Laws.
4.1 You shall provide Bolt NZ with a list of people authorised to access Bolt NZ's services and/or enter into Transactions on your behalf (each an Authorised User).
4.2 You shall immediately notify Bolt NZ when:
4.3 Upon Bolt NZ 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 NZ'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 NZ to the contrary, Bolt NZ may continue to assume that all existing Authorised Users have authority to execute legally binding Transactions with Bolt NZ.
4.7 You hereby indemnify and agree to hold Bolt NZ harmless in respect of any loss incurred by Bolt NZ as a result of any Transaction entered into by an Authorised User 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 NZ reserves the right at any time, acting reasonably, to refuse the appointment or continuation of an Authorised User for any reason, including but not limited to concerns about security, compliance with applicable Laws, or risk to the integrity of its services.
5.1 Bolt NZ 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 NZ 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.
This section applies to all clients.
6.1 Money can only be added to your Payment Wallet by:
6.2 Subject to the terms of this Agreement, Bolt NZ will credit your Payment Wallet balance with funds received on your behalf upon receipt of the cleared and settled funds in the Settlement Account or a Foreign Currency Account (as applicable). Where you receive funds in a non‑NZD Supported Currency, you direct and authorise Bolt NZ to arrange for the non‑NZD balance to be held on your behalf in a Foreign Currency Account, which may be maintained by a Bolt NZ group entity or third party counterparty outside New Zealand, as disclosed to you from time to time.
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 pay-in and will only be settled once you have undertaken or otherwise authorised an FX Conversion in respect of those funds or Bolt NZ has settled the funds to a Supported Currency of Bolt NZ's choosing.
6.4 Notwithstanding any other provision of this Agreement, you agree and acknowledge that Bolt NZ may (acting reasonably) refuse to accept or may return any payment of money intended for your Payment Wallet, that no beneficial interest arises in your favour in respect of that refused or returned money, and that Bolt NZ 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 NZ may set minimum and maximum pay-in amounts and vary them from time to time. Such minimum and maximum pay-in amounts will be published on the Website and on the Bolt NZ Application.
6.6 You acknowledge and agree that any money paid to you in NZD will first be directed into the Settlement Account(s), which are trust-designated safeguarding accounts maintained by Bolt NZ with a registered New Zealand bank. We (as the legal owner and bare trustee) hold this money on bare trust for you (as the ultimate beneficial owner), in accordance with clause 38. You retain the beneficial interest in your funds at all times and do not have the right to be repaid money by us as a creditor. We will only apply the funds in accordance with this Agreement or as otherwise directed by you including your Instructions. You authorise us to credit any money received on your behalf to the Settlement Account(s) in accordance with this clause 6.6.
6.7 All funds that are received on your behalf and processed and cleared in the Settlement Account or a Foreign Currency Account (as applicable) will be allocated 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 Interest may accrue at the account level on the Settlement Account(s) and is earned by Bolt NZ in its capacity as the registered account holder with Westpac. You acknowledge and agree that: (a) you have no entitlement to any interest earned on the Settlement Account(s) unless otherwise agreed in writing; (b) Bolt NZ retains all such interest as part of its agreed remuneration for administering and operating the Settlement Account(s) and providing payment and remittance services; and (c) the retention of interest by Bolt NZ does not constitute a promise of payment of interest to you and does not give rise to any debt owing by Bolt NZ to you.
6.10 We may, and you expressly authorise us to, adjust any Payment by debiting the Settlement Account and/or any Foreign Currency Account (which may result in a corresponding reduction in your Payment Wallet balance), without prior Notice 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 under Law or this Agreement.
6.11 Any fees due and payable to Bolt NZ 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 NZ 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 your funds in Settlement Account and/or any Foreign Currency Account (which may result in a corresponding reduction in your Payment Wallet balance), in and towards satisfaction of those amounts.
6.13 You will ensure that at all times funds held by Bolt NZ on your behalf in the Settlement Account are at least equal to the Initial Minimum Balance. You acknowledge and agree that failure to maintain the Initial Minimum Balance at the required level in your Payment Wallet 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 NZ to prevent further deficiencies. You acknowledge that Bolt NZ is not required to use its own funds or the trust funds of other clients to meet your settlement obligations.
7.1 When you, or an Authorised User, contact Bolt NZ electronically or otherwise by the Internet, or by telephone, Bolt NZ may, but is not obliged to, ask for or clarify the following information where applicable:
7.2 Collectively, though not exhaustively, the information referred to in clause 7.1 or any portion thereof, constitutes the "Instructions".
7.3 Bolt NZ is not obliged to act on any Instruction unless it has been validly submitted. Bolt NZ may also request that you provide it with further information or documentation in respect of any Instruction.
7.4 You shall indemnify Bolt NZ for any loss that Bolt NZ incurs as a result of an error made by you or an Authorised User in providing Instructions to Bolt NZ.
8.1 If you provide Instructions in relation to a Payment Transaction, Bolt NZ will immediately provide you with, either via the Internet, Bolt NZ 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 NZ Application (or by telephone where the Bolt NZ 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 NZ 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 NZ Application.
8.4 Bolt NZ will not process any Payment Transaction unless you:
8.5 In the event that Bolt NZ 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 NZ for the amount of the Payment Transaction plus interest at the rate of 3% per annum above the then current overdraft rate of Bolt NZ'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 (NZT) 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 (NZT) 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 NZ is not responsible for any delays caused by a beneficiary bank in processing a Payment Transaction. Accordingly, Bolt NZ 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 NZ 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:
8.10 Bolt NZ will not initiate or conduct a Transaction that may be in contravention of New Zealand law or the law of any other country.
8.11 For any Payment Transaction using a payee's bank account name and number (including payments to a bank account held in your name), it is your responsibility to ensure the bank account name and number you want to pay to are complete and correct. If we integrate a confirmation of payee service (CoP) that allows you to check if account names and account numbers match before a Payment Transaction, the CoP may provide you with a view on the likelihood that the account name you enter matches the account. If the CoP response indicates that the details do not look right, you should (and it is still your responsibility to) check the account details with the intended beneficiary before proceeding with the transaction. If CoP (or any equivalent check) is unavailable, inconclusive, or indicates a potential mismatch and you nevertheless instruct us to proceed, you (a) direct and authorise us to make a Payment Transaction on that basis, (b) acknowledge that verification could not be completed or confirmed, and (c) accept the risk of loss arising from inaccurate, incomplete or unverified payee details. To the maximum extent permitted by Law and subject to clause 32.6, we will not be liable for any loss relating to such Payment Transaction.
9.1 Bolt NZ 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 NZ may provide you with, either via the Internet, Bolt NZ Application or verbally, the details outlining:
These are the FX Conversion Terms. You are required to check the FX Conversion Terms carefully. By instructing an FX Conversion to a non‑NZD Supported Currency, you direct and authorise Bolt NZ as bare trustee to perform the FX Conversion and arrange for the resulting non‑NZD balance to be held on your behalf in a Foreign Currency Account, which may be maintained by a Bolt NZ group entity or third party outside New Zealand as disclosed to you from time to time.
9.3 If, within the time specified by the Bolt NZ Application, you or an Authorised User indicate by clicking the relevant button on the Bolt NZ Application (or by telephone where the Bolt NZ 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 NZ 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 NZ Application, they will lapse and cannot be accepted.
9.6 Bolt NZ 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 NZ Application.
9.7 Bolt NZ will not process any FX Conversion unless:
9.8 Subject to the terms of this Agreement, Bolt NZ will process and settle each FX Conversion immediately upon acceptance by Bolt NZ 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 NZ may in its reasonable discretion refuse to enter into, or cancel an FX Conversion at any time, including after you have accepted the relevant FX Conversion Terms. Bolt NZ 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.
10.1 In submitting an Instruction, you appoint Bolt NZ as your agent, and authorise Bolt NZ in its capacity as bare trustee, to do all things necessary to give effect to your Instruction, including the withdrawal and transfer of money from the Settlement Account and/or any Foreign Currency Account.
10.2 You authorise Bolt NZ to conduct Transactions in relation to your Account and the Settlement Account and/or any Foreign Currency Account as far as is necessary to give effect to your Instructions.
11.1 You must not pay physical cash into Bolt NZ's accounts under any circumstances. Bolt NZ has absolute discretion as to whether you may pay by cheque.
11.2 Any sums that you owe to Bolt NZ must be paid in one of the following:
11.3 You must have sufficient cleared funds in your Payment Wallet balance before Bolt NZ will execute your Instructions and effect Transactions for you.
11.4 Bolt NZ 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 NZ's services.
12.1 Bolt NZ may, at its own discretion, impose an authorisation limit on you and/or one or more Authorised Users at any time, by providing Notice before the imposition of the limit.
13.1 If, after a Transaction has been executed you inform Bolt NZ that you wish to cancel the Transaction, or this Agreement allows Bolt NZ to treat you as having terminated the Transaction or this Agreement, Bolt NZ may terminate at its complete discretion either the Transaction alone or, where applicable, both the Transaction and this Agreement.
13.2 If you cancel a Transaction, you are liable for any loss or damage suffered by Bolt NZ.
13.3 Bolt NZ 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 NZ will not be liable for any loses in the event that a Transaction cannot be cancelled.
14.1 If you wish to recall a Transaction which was made in accordance with your Instructions, Bolt NZ will use reasonable endeavours to assist you to recall the payment.
14.2 You agree to indemnify Bolt NZ in relation to any loss, costs or expenses incurred by Bolt NZ as a result of any recall request made by you.
14.3 You acknowledge and agree that Bolt NZ 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 NZ reserves the right to charge an administration fee representing its reasonable administration costs in attempting to recall a Transaction.
14.5 If:
is not denominated in a Supported Currency, then Bolt NZ may at its absolute discretion convert the funds into a Supported Currency. Any costs or charges incurred in administering any currency conversion or recall will be deducted from the amounts held in the Settlement Account and/or any Foreign Currency Account on your behalf and your Payment Wallet balance will be updated accordingly.
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 no beneficial interest arises in your favour in respect of that amount and we may deduct that amount from your Payment Wallet balance and return it to the person who made the mistaken payment from the Settlement Account.
15.1 Bolt NZ may, acting reasonably and without Notice to you, reverse a Transaction or deduct funds from amounts held in the Settlement Account and/or any Foreign Currency Account on your behalf and your Payment Wallet where it reasonably suspects that the Transaction involves fraud, has been set up for an unlawful purpose or there is material risk associated with the Transaction or your Account.
15.2 If a Transaction is reversed, Bolt NZ may at its absolute discretion convert relevant funds which are subject to the reversal into 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 held in the Settlement Account and/or any Foreign Currency Account on your behalf and your Payment Wallet balance will be updated accordingly.
15.3 You agree to indemnify Bolt NZ in relation to any loss, costs or expenses it reasonably incurs as a result of a payment reversal or removal of funds.
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 NZ for any fees that Bolt NZ incurs as a result. Bolt NZ may deduct such fees from amounts held in the Settlement Account and/or any Foreign Currency Account on your behalf and your Payment Wallet balance will be updated accordingly.
17.1 Bolt NZ will use all reasonable efforts to process your Transaction(s) in a timely manner. However, Bolt NZ shall not be liable for the loss of any funds or delays, damages, failures or errors in the completion of the Transaction(s), other than to the extent caused by our breach of this Agreement or wilful misconduct.
This section applies to clients who have access to the Request Money feature.
18.1 Bolt NZ may offer you the ability through the Bolt NZ 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 NZ Account holder or an individual without a Bolt NZ Account) requesting that they make a payment to Your Bolt NZ 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 NZ maintains the right to revoke your access to the Request Money feature at any time in its absolute discretion.
This section applies to all clients.
23.1 You warrant that in the case of:
23.2 You warrant that all Transactions entered into, and this Agreement, are and will constitute your legally binding and enforceable obligations.
23.3 If you enter into this Agreement in your capacity as trustee of a trust, you make the following representations:
23.4 You represent and warrant to Bolt NZ that:
You acknowledge that Bolt NZ:
24.1 Personal Information collected by Bolt NZ is treated as confidential and is protected by the Privacy Act 2020, as varied from time to time. Bolt NZ will only collect Personal Information which is necessary to perform the services contemplated by this Agreement.
24.2 Bolt NZ will treat your Personal Information in accordance with its privacy policy, which is on the Website, or available by contacting Bolt NZ.
24.3 Bolt NZ 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 NZ services. Nonetheless, because such information, material and/or data may be provided through the Internet, you hereby acknowledge and agree that Bolt NZ cannot assure that such information, material and/or data will continue to be confidential.
24.4 You acknowledge and agree that Bolt NZ may disclose your name and other Personal Information and financial information about you, and any relevant details of an Authorised User, to Bolt NZ's employees, Representatives, officers, agents, and affiliates, as well as to a governmental entity or self-regulatory authority or any other third party agent or service provider for any purpose related to offering, providing, administering or maintaining the Bolt NZ services, or to comply with applicable Laws, in accordance with Bolt NZ's privacy policy.
24.5 The information provided on the Website is to be used for the purpose of you using Bolt NZ's services only, and not for any other purposes. Using the Website does not transfer intellectual property rights to you.
24.6 Where permitted under Law, all communications and information concerning you held by Bolt NZ, may be disclosed to, and reviewed by, law enforcement agencies and regulatory authorities. In addition, you agree to comply with, or assist with Bolt NZ in complying 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 NZ.
24.7 You agree and consent to Bolt NZ (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 Countering Financing of Terrorism Act 2009 (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.
24.9 You agree and consent to Bolt NZ providing your full name, address and any other details as reasonably requested by a government department, agency or similar, beneficiary's bank or financial institution in accordance with our privacy policy or as required to comply with applicable Laws.
24.9 If you provide Bolt NZ with Personal Information relating to another person, including but not limited to any Authorised Users, beneficiaries, directors, and beneficial owners of corporate entities, you must get consent from that person(s) for you to share such information in accordance with this Agreement and our privacy policy.
25.1 If you or an Authorised User use the Bolt NZ Application, you confirm and accept the following:
25.2 Bolt NZ will not accept Instructions face to face at Bolt NZ's Registered Office or any principal place of business.
25.3 If the Bolt NZ Application is unavailable, you or an Authorised User may request Bolt NZ to accept Instructions and enter into Transactions by telephone. Bolt NZ may check the authority of the caller by requesting the caller give his or her name, confirming that such name has been notified to Bolt NZ by you as an Authorised User and confirming the identity of the caller.
25.4 You acknowledge and agree, and will ensure that each Authorised User acknowledges and agrees, that Bolt NZ may make a recording of any telephone conversation between any person and Bolt NZ at any time. The recording remains the property of Bolt NZ. The telephone recording can be used by Bolt NZ 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, in accordance with applicable law and our privacy policy.
26.1 Bolt NZ may offer additional services through the Bolt NZ Application which require you to accept terms and conditions to access such services.
27.1 Any prize or promotion that requires Bolt NZ 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.
28.1 We may charge you a fee for providing you with our services under this Agreement. Our fees are published on the Website and Bolt NZ Application and are updated from time to time. We will provide 7 days' Notice of any variation to our fees. If you do not agree to the updated fees you may terminate this Agreement in accordance with its terms.
28.2 Bolt NZ 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.
28.3 Bolt NZ may deduct any fees owing to it from your Account (including your Payment Wallet balance).
28.4 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.
28.5 Bolt NZ will not be liable for losses that result from fees under clause 28.1 being levied. Bolt NZ will use its best endeavours to ensure that all fees associated with a Transaction are disclosed to you on the Bolt NZ Application.
28.6 Bolt NZ may receive referral fees and/or commissions from product providers and other third parties in connection with its financial products and services.
29.1 If Bolt NZ is unable to perform its obligations under this Agreement or a Transaction because of factors beyond its reasonable control or because of a Force Majeure Event, Bolt NZ 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 NZ has been unable to discharge its obligations under this Agreement.
29.2 In the absence of any fraud, wilful default or negligence on the part of Bolt NZ, Bolt NZ will not be liable for any damages, claims, losses, liabilities or costs resulting from an event or factor beyond its reasonable control or a Force Majeure Event.
30.1 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 information or advice provided by Bolt NZ.
30.2 Any number of financial products and/or services may be provided through a Third Party Provider via our Services. Each such financial product and/or service will be subject to the applicable terms and conditions of the relevant Third Party Provider.
30.3 You agree that Bolt NZ is not responsible for any Third Party Information and that we make no warranties, express or implied, as to any such Third Party Information.
30.4 You acknowledge and agree that:
31.1 This Agreement may be terminated immediately by you or Bolt NZ 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.
31.2 In the event that Bolt NZ is made aware of, or has reason to believe, any of the following:
then Bolt NZ, at its sole discretion, may terminate this Agreement immediately by Notice to you.
31.3 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.
31.4 Subject to clause 31.2 and 31.3, upon termination of this Agreement, Bolt NZ will, within 15 business days, return any money held in your Account (less any fees and charges that you owe to us) to a New Zealand bank account held in your name.
31.5 Bolt NZ may cancel or suspend any part of, or all of the services it provides to you if you fail to provide Bolt NZ with any requested information or funds promptly, if there is suspected or confirmed Illegal Activity or if Bolt NZ has a legitimate business reason to do so.
31.6 Bolt NZ may suspend access to your Account, including the Card, where Bolt NZ reasonably suspects unauthorised activity.
31.7 Bolt NZ may add, remove, suspend, discontinue, or modify all or some of the services. Bolt NZ may at any time impose additional conditions upon use of a service or any feature or aspect of a service.
32.1 You shall indemnify and hold Bolt NZ 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.
32.2 You also agree to promptly pay Bolt NZ for all damages, costs and expenses, including reasonable legal fees and expenses, incurred by Bolt NZ in the enforcement of any of the provisions of this Agreement. Your obligations under this Clause 32 shall survive the termination of this Agreement.
32.3 You acknowledge that you will be liable for any losses which may be realised as the result of entering into a Transaction.
32.4 Bolt NZ 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 NZ 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.
32.5 Bolt NZ 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 NZ and be liable for any losses or charges incurred by Bolt NZ arising from such errors that you make.
32.6 Nothing in this Agreement is intended to limit or exclude:
However, subject to the foregoing and to your rights under applicable consumer guarantees, 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 NZ under this Agreement.
33.1 The terms of this Agreement and any Transactions under it, may be amended by Bolt NZ at any time. Bolt NZ 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:
33.2 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 NZ with regard to Transactions undertaken prior to the termination.
33.3 Any other amendments must be agreed to in writing between you and Bolt NZ.
34.1 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.
34.2 If you have a complaint in relation to the Agreement or any aspect of your Account, you should raise this with our Complaints Manager in the first instance.
34.3 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 parties' 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.
34.4 This clause does not limit your rights (if applicable) to take a dispute or a complaint to Financial Services Complaints Limited (FSCL), our independent external dispute resolution scheme approved under the Financial Service Providers (Registration and Dispute Resolution) Act 2008, of which Bolt NZ is a member, which provides a free of charge, fair and independent financial services dispute resolution for complainants. You can contact FSCL by visiting www.fscl.org.nz, emailing complaints@fscl.org.nz, calling 0800 347 257, or writing to FSCL, PO Box 5967, Wellington 6140, New Zealand.
35.1 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:
35.2 Any Notice given or made under this Agreement may also be sent by email if: the Notice is sent to the email address last notified by the intended recipient to the sender; and the sender keeps an electronic or printed copy of the Notice sent.
35.3 A Notice sent by email will be deemed to have been given on the first to occur of: 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; the time that the Notice enters an information system which is under the control of the recipient; or the time that the Notice is first opened or read by an employee or officer of the recipient.
35.4 It is your responsibility to notify Bolt NZ of any changes to your contact details.
36.1 This Agreement shall be governed by, and construed in accordance with, the laws of New Zealand. The parties agree to irrevocably submit to the non-exclusive jurisdiction of the courts of New Zealand.
36.2 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.
36.3 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 NZ. Bolt NZ may, however, transfer any rights or obligations it may have pursuant to this Agreement to another party without your consent.
36.4 You are responsible for the payment of all taxes that may arise in relation to your Account.
36.5 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.
36.6 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 right or remedy. Nor shall it prevent or restrict the further exercise of that or any other right or remedy.
37.1 You must not set-off against any amounts you owe to Bolt NZ, any amounts Bolt NZ owes to you.
38.1 Bolt NZ will hold funds in the Settlement Account(s) allocated to your Payment Wallet (the Funds) on bare trust for you as the beneficial owner. Bolt NZ holds the legal title to the funds in the Settlement Account(s). Customer funds, including the Funds, may be held across one or more trust-designated safeguarding accounts maintained with a registered New Zealand bank and may be aggregated in those accounts together with funds held on bare trust for other clients. Bolt NZ maintains an internal ledger recording each customer's individual and ascertainable entitlement to funds in the Settlement Account(s) at all times. You retain the beneficial ownership of your Funds at all times. You expressly authorise and direct Bolt NZ to:
38.2 You expressly authorise and direct Bolt NZ to withdraw, apply or otherwise utilise the Funds:
38.3 You agree that when Bolt NZ withdraws or deducts any Funds in accordance with this clause 38 for a lawful purpose as set out in this clause 38, your beneficial interest in the Funds terminates at the point of withdrawal. For the avoidance of doubt, your Funds in the Settlement Account(s) are otherwise held on trust for you as the beneficial owner, in accordance with the terms of this Agreement, and will not be used to meet obligations owed by Bolt NZ or by any other client.
38.4 Each provision of the Trusts Act 2019 that may be excluded from applying to this Agreement is excluded; and that may be modified (but not excluded) is modified to the extent that it is inconsistent with this Agreement. Other than Bolt NZ's obligation to hold the funds on bare trust and as expressly stated in this Agreement, Bolt NZ does not owe you any fiduciary obligations in its capacity as bare trustee of such funds.
38.5 In the event that Bolt NZ becomes insolvent or otherwise does not meet its payment obligations, you will continue to hold the beneficial interest in any funds held on your behalf in the Settlement Account. Those funds will not form part of Bolt NZ's insolvency estate and will not be available to satisfy claims from Bolt NZ's general creditors.
38.6 The funds in the Settlement Account(s) represent debt obligations of the bank at which the Settlement Account(s) are held. In the event that the bank becomes insolvent or otherwise defaults on its payment obligations, you may lose some or all of the funds. Bolt NZ is not liable for any loss incurred by you, your affiliates, customers or clients as a result.
38.7 Customer funds may be held across one or more trust-designated safeguarding accounts maintained with Westpac (or such other registered New Zealand bank as notified to you from time to time). The existence of multiple safeguarding accounts does not affect the legal characterisation of the arrangement as a bare trust, and does not give rise to any repayment obligation by Bolt NZ. Each safeguarding account is appropriately named and operated as a trust account. Customer funds remain segregated from Bolt NZ's own funds at all times, and each customer's entitlement is recorded by internal ledger such that customers retain an absolute and ascertainable entitlement to their funds at all times.
38.8 Standing authorisation for inter-account transfers: You hereby expressly direct and authorise Bolt NZ, in it's capacity as a bare trustee to transfer your Funds between safeguarding accounts held with Westpac (or such other registered New Zealand bank as notified to you from time to time) for operational and administrative purposes, provided that: (a) all accounts between which funds are transferred are trust-designated safeguarding accounts; (b) your beneficial ownership of your identifiable Funds is preserved at all times; and (c) Bolt NZ acts solely pursuant to this standing authorisation and does not exercise any independent discretion in respect of your Funds. This standing authorisation does not affect your absolute entitlement to the Funds and is consistent with the bare trust arrangement described in this clause 38.
39.1 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 NZ application and / or accessed via the Website.
Account Opening Form means the form provided by Bolt NZ for completion by you to request an Account.
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 and terms that apply to Bolt NZ's products and services as set out in clause 1.1.
Bolt NZ means Bolt NZ Pty Limited (NZCN 9280499).
Bolt NZ Application means the Bolt NZ application made available by us and downloaded by a user to a mobile device or accessed via a web browser.
Card means a valid financial transaction card issued by a member or affiliate of MasterCard or UnionPay on which their respective logos appear.
Day means a day on which commercial banks are open for business in Auckland, New Zealand.
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 Law or regulation or any damage of Bolt NZ's machinery or systems, unless occurring as a result of an act, omission, default or negligence of you or Bolt NZ.
Foreign Currency Account means an account held by a Bolt NZ group entity or third party (as disclosed to you from time to time) through which Payments and other Transactions in a non-NZD Supported Currency are processed, and funds in non-NZD Supported Currencies are held on your behalf.
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 9.2 of this Agreement.
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 NZ to cover exposure such as settlement risk.
Insolvency Event means anything that reasonably indicates that you are (or that there is a significant risk of you becoming) insolvent and includes circumstances where: an administrator, liquidator, provisional liquidator, controller or any other insolvency official is appointed to you or any of your property; you commit an act of bankruptcy or are declared bankrupt; 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 7.2 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 New Zealand, as varied from time to time.
Notice has the meaning stated in clause 35 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 Transaction means a payment to be made from your Account including: (a) payments to a bank account held in your name with a New Zealand bank; (b) payments to a third party's bank account held with a New Zealand bank; (c) payments to a third party's account held with Bolt NZ; 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 Transactions.
Personal Information is as defined in the Privacy Act 2020, as varied from time to time.
Registered Office means the registered office of Bolt NZ.
Representative means in relation to a party: (a) any director, officer, employee, agent, contractor, or adviser of that party; and (b) in the case of a company, any entity that directly or indirectly controls, is controlled by, or is under common control with that company.
Request Money is a feature which enables Bolt NZ users to send a notification to a third party (either another Bolt NZ Account holder or an individual without a Bolt NZ Account) requesting that they make a payment to that user's Bolt NZ Account.
Senior Officer means the Chief Executive Officer, Managing Director or "director" as defined in the Companies Act 1993, as varied from time to time, of Bolt NZ and/or you.
Supported Currency means each currency approved by Bolt NZ from time to time that can be used in a Payment Transaction.
Settlement Account means one or more trust-designated safeguarding accounts held and maintained by Bolt NZ in its capacity as bare trustee with a registered New Zealand bank, through which Payments, Adjustments and other Transactions in NZD are processed, and in which customer funds are held on bare trust on behalf of customers in accordance with clause 38. References to the Settlement Account include references to all such accounts collectively.
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 NZ website located at https://www.bolt.net/en-nz/.
you or your means anyone who (subject to these terms and conditions) utilises Bolt NZ's products and/or services described in these terms.
Address: Bolt NZ Pty Limited (NZCN 9280499) c/ Duncan Cotterill, Floor 5, 50 Customhouse Quay, Wellington Central, Wellington, 6011, New Zealand.
Website: https://www.bolt.net/en-nz/
1.1 These Prepaid / Debit Card Service Terms and Conditions (Terms and Conditions), apply to such individuals approved by Bolt NZ (Cardholder). Bolt NZ is providing the Card services as a registered Financial Service Provider (FSP1008485) and a principal member of MasterCard or UnionPay as applicable.
1.2 Activation of Your Prepaid / Debit Card on the Bolt NZ Application constitutes Your acceptance and agreement to be bound by these Terms and Conditions.
1.3 In the event of any inconsistency between these Terms and Conditions and any other provisions of the Agreement, these Terms and Conditions shall take precedence.
2.1 You must meet all eligibility criteria stipulated by Bolt NZ and satisfy any due diligence checks conducted by Bolt NZ to be eligible for the Card.
2.2 Notwithstanding clause 2.1, Bolt NZ may, in its sole discretion (acting reasonably), refuse to make available the Card to any Cardholder or to recall, suspend or terminate a Card that it has made available to any Cardholder.
2.3 The Card shall be valid for the period stated on the Card (Validity Period). Renewal or replacement of the Card will be at Bolt NZ's sole discretion.
2.4 You shall deliver or cause to be delivered to Bolt NZ such information as Bolt NZ may reasonably request for the purpose of the Card and the Terms and Conditions including but not limited to documents and/or information regarding Your financial affairs and/or identity.
3.1 No one else but the Cardholder whose name is printed on the Card may use the Card during the Validity Period in accordance with applicable laws, the Mastercard rules and these Terms and Conditions.
3.2 The Cardholder may use the Card to make payments for goods and services at merchants who accept Mastercard prepaid / debit cards for payments.
3.3 You are fully responsible for ensuring that the Cardholder only uses the Card and only makes payments to persons or entities in connection with commercial transactions in compliance with any Mastercard rules, applicable laws and regulations.
4.1 Whilst you are permitted to allow your employees to be Cardholders, and request additional Cards for use by employees or Authorised Users, you are at all times responsible and liable for the use of the Card related to your Bolt NZ Account.
4.2 You agree that any use of any of your Cards, including but not limited to at a point-of-sale terminal and any contactless or card-not-present transactions, is you authorising and consenting to the associated Transaction.
4.3 It is your responsibility to inform all employees and Authorised Users who use one of your Cards of the requirements and obligations associated with using a Card.
5.1 The Cardholder may use the Card to make cash withdrawals via (a) any ATM that accepts MasterCard or UnionPay (as applicable) branded prepaid / debit cards or (b) any service provider as notified by Bolt NZ from time to time in jurisdictions where such cash withdrawal would not contravene local laws (Cash Withdrawal).
6.1 You are solely responsible for ensuring that there is sufficient Available Balance in Your Account.
6.2 Bolt NZ shall not be liable to make up for any shortfall in the Available Balance.
7.1 The Cardholder's use of the Card is subject to You paying the fees as set out on the Bolt NZ Website.
7.2 All Fees and any other amounts due and owing under the Card shall be deducted from any Available Balance.
7.3 If the outstanding Fees and any other amounts due under these Terms and Conditions exceed the Available Balance, such shortfall represents a debt immediately due and payable under the Card Program on demand (Demand Date).
7.4 A late interest of 0.5% each month shall be charged on any unpaid amounts owed under the Card Program for the period beginning on the Demand Date and ending on the date such outstanding amounts are paid in full.
8.1 You and the Cardholders shall at all times be solely responsible for the security of the Card and for all transactions and charges incurred under the Card.
8.2 You must ensure that the Cardholders take all steps to safeguard the Card and any security related details (Access Details).
8.3 You must ensure that no Cardholder shall disclose the Access Details to a third party. If You or any Cardholder disclose any Access Details to a third party, You will be liable for all resulting losses incurred in connection with the Card.
8.4 You undertake to provide, and update Bolt NZ from time to time with complete and accurate contact details and shall ensure that the Cardholders provide, and update Bolt NZ from time to time, with complete and accurate contact details.
8.5 If You become aware that your Access Details of any Cardholder have been stolen, misappropriated, used without authorisation or otherwise compromised, You must notify Bolt NZ immediately.
8.6 You authorise Bolt NZ to accept, rely and act upon any instruction received, or purported to be received from You or any Cardholder. Where Bolt NZ receives any instruction from a person using the Access Details, Bolt NZ shall be entitled to treat such instruction as having been received from the Cardholder.
8.7 Bolt NZ may in its sole discretion screen all instructions given by You or the Cardholder in relation to the Card before carrying out such instructions.
8.8 Bolt NZ may, at its sole discretion (acting reasonably), refuse to act upon any instruction received from You or the Cardholder.
8.9 You are fully responsible for regularly checking Your transaction history available via the Bolt NZ Application or Website and for reconciling the entries against Your own records. You should contact Bolt NZ immediately and in no event no later than seven (7) days after any unauthorised, incorrect, disputed entry (Entry) is reflected in Your transaction history.
9.1 Bolt NZ shall authorise a transaction only if there is sufficient Available Balance in Your Bolt NZ account to cover such transaction and the Single Transaction Limit has not been exceeded.
9.3 Notwithstanding clause 8.1, Bolt NZ may, in Bolt NZ's sole discretion (acting reasonably), refuse to authorise any transaction.
9.4 You are deemed to have consented to all transactions made through the Card. Neither You nor the Cardholder may cancel any transaction after it has been authorised by Bolt NZ.
9.5 If Bolt NZ receives a transaction for processing in a currency other than a Supported Currency, Bolt NZ may convert such foreign currency into a Supported Currency at the applicable exchange rates as determined by Bolt NZ on the date such transaction is processed by Bolt NZ.
9.6 Where a Cardholder uses the Card to make a Cash Withdrawal, the amount deducted from the Available Balance may include such amount withdrawn and any other associated fees including but not limited to fees imposed by ATM operator or a service provider.
9.7 Any Cash Withdrawal is also subject to any limit imposed by the local ATM operator or a service provider.
10.1 You must suspend the Card via the Bolt NZ Application and notify Bolt NZ immediately if any of the following events has occurred (each an Unauthorised Transaction):
10.2 You must ensure that the relevant Cardholder shall provide the following information when requested by Bolt NZ: details of the Card; the relevant Cardholder's identification information; the type of authentication device, access code and device used to perform the Unauthorised Transaction; whether the Card, authentication device, or Access Details were lost, stolen or misused; the date and time of the loss or misuse; how the relevant Cardholder safeguards the Access Details; and any other information about the Unauthorised Transaction known to the Cardholder.
10.3 You must make a police report upon request by Bolt NZ and provide a copy of such report to Bolt NZ.
10.5 Bolt NZ shall suspend the Card upon receipt of notification from you or the Cardholder. Bolt NZ may charge a fee to replace the Card or may refuse to replace the Card without liability to you or having to assign any reason.
10.6 You shall be liable for all transactions made via the Card prior to the notification.
11.1 Where Bolt NZ receives any report of an Unauthorised Transaction from the Cardholder (Relevant Claim), Bolt NZ shall commence investigation and shall provide you with an electronic written report on the outcome and Bolt NZ's assessment of the Unauthorised Transaction (Investigation Outcome) within a reasonable period of time.
11.2 Where the Investigation outcome is decided in your favour, Bolt NZ shall credit the Card with the amount charged on the Card due to the Unauthorised Transaction (Unauthorised Loss).
12.1 You are solely liable for all losses arising from any Unauthorised Transaction that occur under the Card unless Clause 12.2 or any of circumstances described in clause 13.2 applies.
12.2 You shall not be liable for losses arising from any Unauthorised Transaction if such losses are directly due to any act or omission of Bolt NZ or any Bolt NZ Representatives to provide the services in connection with the Card.
13.1 If You wish to receive a refund after the Cardholder has conducted a transaction with a merchant via the Card (Refunds), the Cardholder should approach the merchant directly.
12.2 If You wish to receive a refund from a merchant in respect of a disputed transaction (Chargebacks), Bolt NZ may, in its sole discretion, file a formal dispute with such merchant on Your behalf. The decision of Mastercard regarding the validity and value of any Chargebacks is valid and binding.
12.3 You acknowledge and agree that:
14.1 You may request Bolt NZ to cancel, suspend or terminate the Card by notifying Bolt NZ via the Bolt NZ App.
14.2 Bolt NZ may (acting reasonably) suspend or terminate any Cardholder's ability to use the Card at any time without assigning any reason upon notice to You and the affected Cardholder.
14.3 Upon suspension or termination of a Card, the affected Cardholder's access to the Card shall be disabled.
14.4 The Card is valid until the expiry date shown on it unless it is cancelled before then.
15.1 You may at any time immediately terminate your subscription to the Prepaid / Debit Card service, in whole or in part, by written notice to Bolt NZ if: Bolt NZ commits a material breach of these Terms and Conditions which is not remedied within thirty (30) days; Bolt NZ is subject to an Insolvency Event; or there is a withdrawal or termination of any licence, permission or authorisation required by Bolt NZ.
15.2 Bolt NZ may at any time immediately suspend or terminate the Prepaid / Debit Card service in whole or in part, by written notice to you if: you or any Cardholder commits a material breach not remedied within thirty (30) days; you are subject to an Insolvency Event; Bolt NZ is required to do so pursuant to an order from regulatory authorities; the results of any "know your customer" checks are unsatisfactory; there is a withdrawal or termination of any licence required to operate Your business; or you undergo a Change of Control.
15.3 Upon termination of the Prepaid / Debit Card service, Bolt NZ shall initiate a refund of any unused Available Balance (less applicable taxes, charges and fees) to a bank account as instructed by You within sixty (60) Business Days of Bolt NZ's receipt of Your written request.
15.4 Bolt NZ's obligation to refund the Remaining Balance is subject to satisfactory due diligence checks and clauses 31.2 and 31.3 of Section A.
15.5 The rights conferred on Bolt NZ under these Terms and Conditions shall survive termination.
16.1 You represent and warrant that You have the legal right to disclose or provide any information disclosed or provided by You to Bolt NZ or otherwise collected during the duration of the Cardholders use of the Card (Personal Information) and any data derived from Personal Information may be disclosed in accordance with our privacy policy and applicable law to: (i) Bolt NZ Representatives; (ii) companies within the Bolt NZ group of companies; (iii) third parties who process transactions submitted by merchants on the applicable Card network; (iv) processors and suppliers; (v) the providers of services and benefits associated with the Card; (vi) consumer credit bureaus, collection agencies and lawyers; (vii) parties who accept the Card in payment; (viii) parties who distribute the Card; (ix) the applicable Card network and any co-branded partner; (x) banks, financial institutions, government agencies in Australia, New Zealand, Singapore or elsewhere; (xi) anyone to whom Bolt NZ may transfer contractual rights; and (xii) any other party approved by You.
17.1 You agree that the Bolt NZ web-pages (including service marks, logos and trademarks), applications, process and systems, and deliverables produced by Bolt NZ and the Card (collectively, Bolt NZ IP) are and shall remain the exclusive property of Bolt NZ and are protected by copyright law or other intellectual property laws.
17.2 No copyright or other intellectual property rights, title or interest shall be acquired by you, except to the extent expressly contemplated in these Terms and Conditions.
17.3 You shall not distribute, disclose, or sell Bolt NZ IP or permit use of Bolt NZ IP by any third party without the express written consent of Bolt NZ.
18.1 You agree to indemnify, defend and hold harmless Bolt NZ and its respective Representatives from and against any and all losses whatsoever and howsoever arising which Bolt NZ may sustain, incur, suffer or pay in connection with these Terms and Conditions, any Cardholder's use of the Card and any other services provided in relation thereto except as contributed to by our gross negligence, criminal conduct, fraud or wilful misconduct.
19.1 Without limiting your rights under applicable statutory consumer guarantees, Bolt NZ make no representations or warranties, express or implied, as to the satisfactory quality, fitness for a particular purpose, no infringement and performance or otherwise of the Card and any other services provided in relation thereto.
19.2 Without limiting your rights under applicable statutory consumer guarantees and any other applicable laws, Bolt NZ shall not be liable to You for any damages or losses of any kind whatsoever in connection with these Terms and Conditions, the Card and any other services provided except as contributed to by our gross negligence, criminal conduct, fraud or wilful misconduct.
20.1 Notices may be provided to You in the English language by Bolt NZ via (i) electronic mail, (ii) SMS, (iii) personal delivery or ordinary post to Your address last known to Bolt NZ, (iv) through Bolt NZ's website or statement of account, or (v) Bolt NZ App.
20.2 You may contact Bolt NZ at:
Bolt NZ Pty Limited (CN 9280499) c/ Duncan Cotterill, Floor 5, 50 Customhouse Quay, Wellington Central, Wellington, 6011, New Zealand.
Email: contact@bolt.app
Website: https://www.bolt.net/en-nz/
21.1 Bolt NZ may vary the Terms and Conditions from time to time. Any amendments or variations shall come into effect upon Bolt NZ publishing a revised version on the Bolt NZ App or website. Your continued use of the Card shall constitute acceptance of the revised Terms and Conditions.
22.1 Your use of the Card is personal to You and You may not assign any rights under these Terms and Conditions or the Card to any third party.
22.2 Bolt NZ may assign and transfer any of its rights and obligations under these Terms and Conditions.
23.1 The Terms and Conditions are governed by the laws of New Zealand and You hereby irrevocably submit to the exclusive jurisdiction of the courts of New Zealand for all disputes arising from, as a result of or in connection with these Terms and Conditions.
24.1 Non-performance of Bolt NZ shall be excused to the extent that performance is rendered impossible by strike, fire, flood, other natural disasters, governmental acts, acts of terror or orders or restrictions, failure of suppliers, market disturbance, or act of God, or any other reason where failure to perform is beyond the control and not caused by the negligence of the non-performing Party (Force Majeure Event).
25.1 Except by a person who is Bolt NZ's assignee pursuant to clause 21.2 above, a person who is not a party to these Terms and Conditions shall not have any rights to enforce any provision of these Terms and Conditions.
25.2 In the event any provision or part of the Terms and Conditions is found to be invalid or unenforceable, only that particular provision or part so found, and not the entire Terms and Conditions, will be inoperative.
25.3 Any delay in enforcing Bolt NZ's rights under these Terms and Conditions or any waiver as to a particular default or other matter shall not constitute a waiver of Bolt NZ's rights to the future enforcement of its rights under the Terms and Conditions.
25.4 Except in respect of funds in the Settlement Account which Bolt NZ holds on bare trust in accordance with Section A, Bolt NZ provides the Card services under this Section B as an independent contractor and not your agent or trustee nor the agent or trustee of any person from which payments are received through the Card.
In this Section B:
Authorised User means any person to whom a Card is provided which is linked to your Account on the Bolt NZ Application.
Available Balance means the total balance of funds in a Supported Currency available in your Payment Wallet(s) in respect of the Cards which are no longer subject to a right of recall initiated by the licensed financial institution from which the funds are sent.
Card means a valid financial transaction card issued by a member or affiliate of MasterCard, or UnionPay on which their respective logos appear.
Card Program means the MasterCard or UnionPay (as applicable) card program through which Cardholders are issued Cards.
Cardholder means you, or a person that has been issued a card connected to your Bolt NZ Account.
Sanctions means any economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced from time to time by: (i) the New Zealand government; (ii) the European Union; (iii) the United Nations; or (v) any other relevant sanctions authorities.
Supported Currency means each currency approved by Bolt NZ from time to time that can be used in a Payment Transaction.
2 Bulletin Place Sydney, 2000
enquiries@bolt.net
Bano Pty Ltd (trading as Bolt Financial Group) (ABN 93 643 260 431) is a company registered in Australia and is licensed by ASIC (AFSL No. 536984). Bano is not a bank or authorised deposit-taking institution. Any information provided on this website is for general purposes only and does not take into account your objectives, financial situation or needs. You should consider the appropriateness of the information in light of your own objectives, financial situation or needs. Please read and consider the Financial Services Guide, Product Disclosure Statement and Target Market Determination.
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