Terms & Conditions

Website Terms of Use

The Raiz Terms of Use set out below (the Agreement) govern your use of the Raiz website located at www.raizinvest.com.au (the Website) or as a mobile phone app (App) and form a binding agreement between Raiz Invest Australia (ACN 604 402 815) (Raiz) and you in relation to your use of the Website.

Please read the Agreement carefully before using the Website or App. If you have any questions, please contact us. By using the Website or App, you acknowledge and agree that you have had an opportunity to read and understand all of this Agreement and the Privacy Policy at www.raizinvest.com.au/privacy and you agree to be bound by their terms and conditions. If you do not agree with the terms set out in this Agreement or the Privacy Policy, you should not access or use the Website/App.

This Agreement does not constitute an agreement by Raiz to provide services to you. Such an agreement with you is only formed when your Raiz Investment Account is established in accordance with the Product Disclosure Statement. At that point in time, you will become subject to the terms of this Agreement and the terms of the Product Disclosure Statement with respect to your use of the Raiz services, and your Raiz Investment Account. Any services that you receive from Raiz will be subject to the terms of a separate written agreement and the applicable Product Disclosure Statement. Raiz will only provide its services to users who meet its eligibility requirements which, at this time, include a requirement that the users be an Australian resident. Please be aware that whilst Raiz will not be bound to provide you with services prior to the establishment of your Raiz Investment Account in accordance with the Product Disclosure Statement, your use of the Website/App prior to that point (eg any browsing activity of the publically accessible portions of the Website/App) will remain subject to this Agreement.

Raiz may, from time to time, amend this Agreement. Any such amendments will be posted on the Website and/or App and will take effect at least fourteen (14) days after such posting. If you do not accept such amendments to the Agreement, you cannot continue to use the Website or App. By using the Website or App, you agree that the then current version of this Agreement (including any amendments effective at that time) applies to your use of the Website or App.

General Advice Only

While all reasonable efforts have been made to ensure that the information and content contained in this Website/App or the Raiz Content is accurate and up to date, it is not designed to provide personal financial or investment advice. The information provided does not take into account your particular investment objectives, financial situation or investment needs. You consent that the product disclosure statement can be sent to you via email.

The Company is a Corporate Authorised Representative of Australian Financial Services Licence No 434776.

1. General Advice Only

   1. Raiz reserves the right to modify, discontinue or disable the Website/App or the Raiz Content or any part of the Website/App or the Raiz Content (on a permanent or temporary basis) at any time. While Raiz will, where reasonably practicable and possible, endeavour to provide you with prior notice of such modifications, discontinuations or disabling, you agree and accept that it may not always be possible to provide you with such prior notification.

   2. This Website/App and the Raiz Content has been prepared by Raiz Invest Australia (ACN 604 402 815) for general promotional purposes only and is not an offer to sell or solicitation to buy any financial product. This Website/App and the Raiz Content has been prepared without taking account of your objectives, financial situation or needs. Consequently, before acting on the information in this page, you should consider the appropriateness of the information in view of your own objectives, financial situation and needs.

   3. Raiz makes no representation and gives no advice in respect of any financial, investment, tax, legal or accounting matters in any jurisdiction including the suitability of any financial product to investors. Neither Raiz nor any of its affiliated companies, agents or subcontractors shall be liable for any direct, indirect, special, incidental, consequential, punitive, or exemplary damages, including lost profits arising in any way from, including but not limited to: (i) the information provided in the Website/App; (ii) the modification or misuse of information on the Website/App; or (iii) claims of third parties in connection with the use of this Website/App.

   4. You must not use the Website or App:

      1. to collect any personal information on other individuals or to upload personal information of other individuals, including their names, address, phone number or any other identifying information; or

      2. for any unlawful purpose.

   5. You must not violate or attempt to violate the security of the Website or App. You must not hack into the Website, App, Raiz’s computer systems or the computer systems of other users of the Website or App. “Hacking” means unauthorised access, malicious damage and/or interference and includes, without limitation, spamming, propagating viruses, worms or other types of malicious programs, deliberate attempts to overload a computer system, broadcast attacks or any other method designed to damage or interfere with the operation of a computer system or website/app.

   6. If you breach the terms of this Agreement, Raiz may (at its option, and without limiting the remedies available to Raiz in any way) terminate its agreement with you or bar you from accessing the Website or App on a temporary or permanent basis.

2. Usernames and passwords

   1. You can play an important role in keeping your personal information secure by maintaining the confidentiality of any password and accounts used on the Website or App. Please notify Raiz immediately if there is any unauthorised use of your account by any other internet user or any other breach of security.

   2. You are responsible for the security of your user name and password (or other log-in information) and you take responsibility to ensure the confidentiality of this information.

3. Intellectual Property Rights

   1. The Website/App and all content contained on the Website/App or otherwise emailed to you or made available by Raiz (including without limitation all text, graphics, icons, advertisements, photographs, databases, trade marks and other information contained on the Website/App (other than Third Party Content) (Raiz Content) (and all intellectual property rights that subsist in the Website/App and Raiz Content, including without limitation copyright, trade marks, patents, design rights and all other forms of intellectual property existing in the world) are owned and operated by Raiz or its third party licensors and suppliers. Nothing in this Agreement constitutes a transfer of any intellectual property rights.

   2. Subject to this Agreement and all applicable laws and regulations, Raiz grants you a non-exclusive, non-transferable, personal, limited licence to download, access, view, use and display the Raiz Content which Raiz makes available to you from time to time on the terms and conditions set out in this Agreement.

   3. You must not do anything which breaches or otherwise interferes with Raiz’s intellectual property rights or the intellectual property rights of any of Raiz’s third party licensors. You may not distribute, reproduce, publish, alter, modify or create derivative works from any Raiz Content without the prior written permission of Raiz or the relevant third party licensor or exploit such contents for commercial benefit.

   4. All rights not expressly granted are reserved by Raiz.

4. Privacy

   1. By using the Website and the App, you agree to provide true, accurate, current and complete information about yourself, and your accounts maintained at third party websites and you agree to not misrepresent your identity or your account information held with third party account providers.

   2. By using, and continuing to use, the Website and the App, you authorize Raiz and its service providers (

      Service Providers

      ) to access third party websites designated by you, on your behalf, to retrieve information requested by you in order to facilitate the provision of services by Raiz. For that sole purpose only, you hereby appoint Raiz and each Service Provider as your agent, with full power of substitution and resubstitution, to access third party websites, servers or documents, retrieve information, and use your information, all as described in this clause 4.b, with the full authority to do and perform anything necessary to be done in connection with such activities, as fully to all intents and purposes as you may or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN RAIZ OR A SERVICE PROVIDER ACCESSES AND RETRIEVES INFORMATION FROM THIRD PARTY WEBSITES, RAIZ AND ANY SERVICE PROVIDER ARE ACTING AS YOUR AGENT. You agree that third party account providers are entitled to rely on the foregoing authorization and agency granted by you solely for the purpose set out in this clause 4.b.

   3. Any personal information collected by Raiz through the Website/App, or otherwise collected by or on behalf of Raiz, will be dealt with in accordance with the Raiz Privacy Policy.

5. Third Party Activities

   1. The Raiz Website or App may contain links to third party websites where content is not controlled by Raiz (Linked Sites).

   2. Links to Linked Sites are provided for convenience only. The appearance of a link to a Linked Site does not imply Raiz’s endorsement of that Linked Site or any content created or uploaded by a party other than Raiz, including all text, graphics, icons, advertisements, photographs, databases, trade marks and other information created and/or uploaded by such a party (Third Party Content). Raiz has no control over and is not responsible for any Linked Site or any Third Party Content.

   3. You access Linked Sites at your own risk and, to the full extent permitted by law, subject to clause .6.e, Raiz disclaims all guarantees and warranties, express and implied, as to the accuracy, value, legality or otherwise of any materials or information contained on such Linked Sites and in Third Party Content.

   4. Your use of Third Party Content (including, without limitation, that featured on Linked Websites) may be subject to a third party’s terms and conditions of use. It is your responsibility to check and comply with such terms.

6. Liability

   1. To the full extent permitted by law and subject to clause .6.e, Raiz excludes all representations, warranties, guarantees, terms and conditions, whether express or implied (and including, without limitation, those implied by statute, custom, law or otherwise), except as expressly set out in this Agreement.

   2. To the full extent permitted by law and subject to clause .6.e, the Website/App and the Raiz Content is provided to you “as is” and on an “as available” basis, without any representation or endorsement made and without warranty or guarantee of any kind (whether express or implied). This means that Raiz does not guarantee continuous, uninterrupted or secure access to the Website/App or that its servers are free of computer viruses, bugs or other harmful components or that defects will be corrected. As a result, you may at times experience disruption or other difficulties in using the Website/App. You should consider the potential for disruption or other difficulties in planning your use of the Website/App. To the extent permitted by law, Raiz has no liability to you whatsoever for loss or costs of any kind you suffer as a result of or in connection with any disruption or other difficulties in using the Raiz Website or App.

   3. To the full extent permitted by law, subject to clause .6.e and except where the relevant liability arises from Raiz’ unlawful actions, neither Raiz nor any party involved in creating, producing or delivering the Website/App accepts any liability for the accuracy, timeliness or completeness of the information contained on the Raiz Website/App or any responsibility for any errors or omissions in the content on the Raiz Website/App.

   4. To the full extent permitted by law, subject to clause .6.e and except where the relevant liability arises from Raiz’ unlawful actions, Raiz excludes all liability to you for any damages or loss (including without limitation direct, incidental, indirect, consequential, special, punitive or exemplary damages or any loss of business, interest, goodwill, revenue, profit, or loss or corruption of data) arising out of your access to, or use of, or inability to use or access the Website/App or Raiz Content or otherwise in connection with:

      1. your use of, or reliance on, the Website/App (or any of the Raiz Content, Linked Site or Third Party Content) however caused (including, without limitation, damage or loss arising in contract, tort (including, without limitation, negligence), statute or otherwise));

      2. the accuracy, timeliness, credibility, quality, utility or completeness of the information contained on the Raiz Website/App or in the Raiz Content; and/or

      3. any errors or omissions in the content on the Website/App or in the Raiz Content, whether or not Raiz is aware of such errors or omissions.

   5. Certain legislation including the Australian Consumer Law, may imply warranties or conditions or impose obligations, remedies or guarantees which cannot be excluded, restricted or modified except to a limited extent. Such legislation may, for example, impose non-excludable guarantees that goods are of acceptable quality or that services will be rendered with due care and skill (with certain remedies available to consumers for certain breaches of such guarantees). To the extent that such legislation applies, this Agreement must be read subject to those statutory provisions. If those statutory provisions apply, notwithstanding any other provision of this Agreement, to the extent that Raiz is entitled to do so, Raiz limits its liability pursuant to such provisions for any goods to the replacement, repair or refund of the cost of goods, or for services, to the re-supply or the payment of the cost of having the services supplied again.

   6. You agree to fully compensate Raiz and its officers, employees and agents from and against reasonable liability, loss, damage, costs and expense (including, without limitation, reasonable legal expenses on a reasonable basis) and penalties incurred or suffered by any of them arising out of:

      1. your material breach of this Agreement (noting that for the purposes of this clause 6.f, a material breach will include, without limitation, a breach of a representation, obligation or warranty);

      2. any misuse or use of Raiz Content in breach of this Agreement; and

      3. any act of fraud or wilful misconduct by or on behalf of you.

   7. The technology used by the Raiz Website and App involves machine learning (“ML”), which is a computational method that uses existing data to continually refine algorithm, improve performance and to make predictions. Certain types of inaccuracies are inherent and unavoidable in the use of this type of technology. You agree and accept that ML inaccuracies may arise in the course of Raiz providing services to you, which may adversely affect you, and that it may not always be possible for Raiz to identify such inaccuracies and/or provide you with notification of such instances. To the full extent permitted by law and subject to clause 6.e Raiz does not accept any responsibility for loss or costs of any kind you suffer as a result of or in connection with any inherent inaccuracies or omissions arising from the use of ML. However, Raiz will use its best endeavours to correct any such underlying inaccuracies where they are identified.

7. General

   1. We may provide you with notices in connection with this Agreement by posting such notices on the Raiz Website/App or, where appropriate, by email or mail if you have provided contact details for that purpose.

   2. Raiz may assign this Agreement provided that the relevant assignee undertakes to perform all of Raiz obligations herein.

   3. The obligations to compensate for losses incurred by Raiz and its officers, employees and agents in this Agreement are continuing obligations of the parties, separate and independent from their other obligations and survive termination of this Agreement and absolute and unconditional and unaffected by anything that might have the effect of prejudicing, releasing, discharging or affecting in any other way the liability of the party that is obliged to provide the compensation.

   4. This Agreement is governed by the laws of New South Wales, Australia, and the parties submit to the non-exclusive jurisdiction of the courts of New South Wales and waive, without limitation, any claim or objection based on absence of jurisdiction or inconvenient forum.

8. Referral Fees

   1. The Responsible Entity may, in its absolute discretion, determine pay a Referral Fee to investors from time to time.

   2. The Responsible Entity will post a notice on its Website and via the Raiz App to notify investors;

      1. when the payment of a Referral Fee commences;

      2. the amount of the Referral Fee; and

      3. when the payment of a referral Fee ends.

   3. A Referral Fee will only be payable to an investor who successfully refers a new customer to open an Raiz Investment Account, and the refer is an Effective Referral (as defined in the PDS).

9. Important Acknowledgements.
   By applying for an Raiz Investment Account:

   1. you consent to receive any and all advice, documents, information, or other communications from Raiz electronically through the Website, the App, email, via text message or otherwise over the internet or mobile network (Electronic Communication);

   2. you agree that you will use the App for all transactions in respect of your Raiz Investment Account;

   3. you agree and acknowledge that you must have a direct debit arrangement in place to invest or withdraw from your Raiz Investment Account;

   4. you agree and acknowledge that you must use the App to connect your Raiz Investment Account to your Funding Account to make investments;

   5. you confirm that any information you enter into the App about your Funding Account and Spending Account, will be true, accurate, current, and complete;

   6. you represent that your Funding Account is not, and will never be, a credit card, overdraft amount or any other borrowed money.

   7. you agree and acknowledge that nothing in this Terms of Use and PDS gives you any right to invest money in, or withdraw money from, your Raiz Investment Account other than by direct debit and direct credit from and to your nominated Funding Account in accordance with the PDS;

   8. you agree and acknowledge that Raiz will use its reasonable endeavours to generate and place the orders for ETF Units, Bitcoin, listed stocks and RPF Units on the Business Day following the Business Day on which the Custodian credits each applicable contribution (including Round Up Deposits to your Raiz Investment Account) or as soon as reasonably practicable thereafter;

   9. you agree and acknowledge that we will use your personal information to send you messages containing important information about your Raiz Investment Account. These messages are an important part of the service that we provide to you, and will be sent to you as long as you hold an Raiz Investment Account. You cannot opt-out of receiving these messages; and

   10. you agree and acknowledge that by investing through an Raiz Investment Account you do not have access to some of the rights and entitlements that would otherwise be available to you as a retail investor if you invested in the ETFs and / or listed stocks directly, including not having the same rights as direct retail investors or not having access to:

       1. cooling-off rights;

       2. withdrawal rights in respect of Investments; and

       3. voting rights in respect of Investments.

10. Raiz Rewards

    1. If you have signed-up for, and maintain in good standing, an Active Raiz Investment Account, from time to time certain third party promotions may be available to you (Raiz Rewards Promotions).

    2. Details of all current Raiz Rewards Promotions that are open to eligible participants from time to time – being customers who have an Active Raiz Investment Account- will be set out at the Raiz Rewards page within the App including the relevant Participation Terms for each Raiz Rewards Promotion. An Active Raiz Investment Account is an account which has a positive balance and where you are paying a monthly account fee and/ or a monthly maintenance fee.

    3. By participating in a Raiz Rewards Promotion, you agree to comply with the Participation Terms for that Raiz Rewards Promotion (which will be incorporated into and form part of this Agreement). You should carefully read the Participation Terms for each Raiz Rewards Promotion along with the terms and conditions of this Agreement and the Raiz Privacy Policy before participating and, if you do not accept those terms, you should not participate in the Promotion.

    4. Each Raiz Rewards Promotion runs for a limited term only, as set out in the relevant Participation Terms (the Promotion Term).

    5. Notwithstanding any other provision of this Agreement, Raiz may terminate, cancel or amend all or any portion of any Raiz Rewards Promotion at any time by amending the details of the Raiz Rewards Promotion on the Raiz Rewards page within the App. Advance notice will be provided (via the Raiz Rewards page within the App) where possible. However, you acknowledge that the Raiz Rewards Promotions are offered by Third Party Retailers and therefore there may be circumstances where Raiz is unable to provide advance notice of such changes.

    6. During the Promotion Term of a Raiz Rewards Promotion, if you make an eligible purchase (Eligible Purchase) from a specified third party retailer (Third Party Retailer), the Third Party Retailer will contribute an amount of money (Customer Benefit) for investment into your Active Raiz Investment Account as set out in the Participation Terms for that Raiz Rewards Promotion, provided you meet all eligibility requirements as set out in the Participation Terms.

    7. During the Promotion Term of a Raiz Rewards Promotion the Third Party Retailer may pay an amount to Raiz Invest Limited for promoting the Raiz Reward Promotion, which may be a flat amount of money or an amount of money which is a percentage of an Eligible Purchase.

    8. The Participation Terms for a Raiz Rewards Promotion will set out details of what constitutes an Eligible Purchase for that Raiz Rewards Promotion. An Eligible Purchase may, for example, be a purchase of a particular product from the Third Party Retailer, a purchase made from the Third Party Retailer via a particular sales channel (e.g. from a particular website), a purchase over a particular value from the Third Party Retailer or some other kind of specified category of purchase. An Eligible Purchase may be limited to purchases that occur in certain fact scenarios only (for example, only in certain locations). You may therefore not be eligible for all Third Party Promotions. You should therefore carefully check the Participation Terms for the Third Party Promotion to determine whether you are eligible.

    9. The Participation Terms for a Raiz Rewards Promotion will specify the amount of the Customer Benefit, or the means by which that amount will be calculated, and any other relevant details regarding payment of Customer Benefits. The Customer Benefit is only for investment in your Active Raiz Investment Account and may not be received by you in cash or in any other form. Raiz will receive all such Customer Benefits paid by the Third Party Retailer on your behalf and, once a Customer Benefit is received from the Third Party Retailer, will process such payment into your Active Raiz Investment Account as soon as reasonably practicable. Please be aware that there will be a delay between when you make the Eligible Purchase, and when the Customer Benefit appears in your Active Raiz Investment Account.

    10. The Customer Benefit is paid by the Third Party Retailer, not by Raiz and Raiz has no control over the Third Party Retailer’s payment of this amount. To the full extent permitted by law, Raiz excludes all liability in connection with any delay or failure by the Third Party Retailer to pay you any Customer Benefit.

    11. The right to participate in a Raiz Rewards Promotion is not transferable to any other person.

    12. Any link to a Third Party Retailer’s website or associated third party website is a Linked Site for the purposes of this Agreement and subject to the provisions dealing with Linked Sites.

    13. Raiz is not a party to the contract formed between you and the Third Party Retailer for the Eligible Purchase, and to the full extent permitted by law hereby excludes all liability in connection with Eligible Purchases or any other transaction or engagement between you and the Third Party Retailer. In addition, to the full extent permitted by law, Raiz excludes all liability that arises if you are unable to participate in a Raiz Rewards Promotion due to an issue encountered with the Third Party Retailer (such as a fault or issue with the Third Party Retailer’s payment system, or a withdrawal of the Raiz Rewards Promotion by the Third Party Retailer).

    14. To the extent that you believe that a Third Party Retailer has failed to pay you a Customer Benefit that you are entitled to, you may notify Raiz on support@raizinvest.com.au or on 1300 754 748. Raiz will, upon timely receipt of any such notice, contact the Third Party Retailer regarding payment of the Customer Benefit, and undertake reasonable investigations. Raiz decision (or if appropriate, the Third Party Retailer’s) in respect of such matter will be final and binding.

    15. In order to be able to participate in a Raiz Rewards Promotion, it may be necessary in some instances to activate certain settings on your mobile device (e.g. to allow cookies). If you are unable to access a Raiz Rewards Promotion please contact us at support@raizinvest.com.au or on 1300 754 748.

    16. If you wish to opt-out from participating in all Raiz Rewards Promotions, please contact Raiz at support@raizinvest.com.au, or you can turn-off Raiz Rewards Promotions by following the instructions in the App.

    17. No licence is granted to you under this Agreement to any Third Party Retailer branding or logos, or to any other branding or logos relating to products of any Third Party Retailer, associated with a Raiz Rewards Promotion.

    18. Raiz may withdraw or cancel the Raiz Rewards program at any time in its absolute discretion. In addition, Raiz may suspend the Raiz Rewards program if Raiz forms the reasonable view that any fraud, tampering or other gaming is occurring in connection with the Raiz Rewards program, or may suspend your access to the Raiz Rewards program if Raiz forms the reasonable view that you are involved in such activities.

11. Direct Debit Request Service Agreement

    1. Definitions
       In this agreement:

       1. agreement means this Direct Debit Request Service Agreement between us and you
       2. debit arrangements means the debit arrangements that apply between us and you as set out in this agreement and the direct debit request
       3. debit day means a day that your account is due to be debited by us
       4. debit payment means a particular debit from your account
       5. Direct Debit Request means the written, verbal or online request made to us by you to debit funds from your bank account
       6. we, us or our means Instreet Investment Limited
       7. your account

           means the Funding Account identified by you in the direct debit request from which you have authorised and requested us to debit funds

       8. your financial institution means the financial at which you hold the account you have authorised
       9. you means the member of Raiz Invest Australia Fund (as defined in the PDS) who has authorised the Direct Debit Request

    2. Debit arrangements

       1. By applying for an Raiz Investment Account, you agree to the terms of this agreement and authorise and request us to debit from your account any amount payable to us by you, including any payable Maintenance Fees.

       2. If the debit day is not a Business Day, we can debit your account on the next Business Day. If you are uncertain about when a debit payment has been or will be processed, you should contact your financial institution.

    3. Variation

       1. We may vary or cancel the debit arrangements at any time if we have given you at least 14 days’ notice of the variation or cancellation.

       2. You can, in writing (including via email), ask for the debit arrangements to be altered. If you request a variation in the debit arrangements, you will be required to provide verification information again.

    4. Cancellation

       1. You can cancel your authority for us to debit your account; or change, stop or defer an individual debit payment at any time by giving us at least 3 days notice in writing or via email. You can also cancel the debit arrangements by contacting your financial institution, which must act promptly on your instructions.

       2. If you cancel the debit arrangements with your financial institution, you must make other arrangements with an alternative financial institution.

       3. You must have a direct debit arrangement in place to operate your Raiz Investment Account.

    5. Disputes

       1. If you believe that we have debited your account incorrectly, contact us using the contact details at the bottom of this Terms of Use as soon as possible. We can ask you to confirm your query in writing. We will investigate your query and notify you in writing of the action we have taken within 21 days.

       2. If we find that the debit was made incorrectly, we will adjust your account accordingly (including in relation to interest and charges). To the extent permitted by law, we will not be liable for any other losses suffered by you. If we find that the debit was made correctly, we will provide you with reasons and any evidence for this finding.

       3. You can also ask your financial institution to query a debit on your behalf.

    6. Your account

       1. Direct debiting is not available on all accounts and you should check with your financial institution whether direct debiting is available on your account.

       2. It is your responsibility to ensure that the account details provided to us in the direct debit request are correct. You should check those account details against a recent statement from your financial institution.

       3. If you are uncertain about the debit arrangements, you should check with your financial institution before completing the direct debit request.

       4. It is your responsibility to ensure that your account has sufficient clear funds available on a debit day to permit a debit payment to be made in accordance with the direct debit request.

    7. Failed payments

       1. If your financial institution does not permit us to process a debit payment on a debit day (whether because there are insufficient clear funds or for any other reason), the following terms apply.

       2. We will notify you in writing and we may charge you reasonable costs incurred by us on your account of there being insufficient funds.

       3. Your financial institution may also require you to pay fees, charges and interest.

    8. Notices

       1. If you are required or wish to give us written notice in relation to the debit arrangements, use the App or email us at support@raizinvest.com.au. We will send notices to you by email to the address that you have provided to us. Any notice will be deemed to have been received on the second banking day after sending.

Contact us

If you would like to know more about our services, or have any queries, please contact us.
Email: support@raizinvest.com.au
Telephone: 1300 754 748
Post:
Raiz Invest Australia
PO Box R380
Royal Exchange, NSW, 1225