These consumer terms and conditions form the basis of your Continuing Credit Contract with PayRight for your PayRight Zero Account.
The full details of your Continuing Credit Contract with PayRight are included in:
these Terms and Conditions;
the Application Form; and
the Credit and Repayment Schedule.
1. How to apply for you PayRight Zero Account
1.1 An application for a PayRight Zero Account can be made at a Participating Merchant by completing an Application Form and entering into a Credit and Repayment Schedule in relation to a proposed purchase. You can either complete your application online or in paper form. The online application form can be completed by either yourself or a Participating Merchant on your behalf.
1.2 If your application is approved, you will be provided with an amount of credit to apply to your intended purchase from that Participating Merchant. This amount of credit is your Initial Credit Amount.
1.3 If you wish to make subsequent purchases using your PayRight Zero Account, you will be required to complete a new Application Form and meet the conditions in clauses 3.3 and 3.4. You will enter into a new Credit and Repayment Schedule in relation to each subsequent purchase. Each application for credit will be assessed at the time it is made.
1.4 A PayRight Zero Account can only be used to make purchases from Participating Merchants.
1.5 By submitting your Application Form, you accept these Terms and Conditions and agree to be bound by them.
1.6 To apply for a PayRight Zero Account you must (among other things):
(a) be an Australian citizen or permanent resident;
(b) be over 18 years of age;
(c) be deriving an income;
(d) if employed, provide your employer’s details for verification purposes;
(e) provide a valid Australian driver’s licence or Australian passport,when you submit your Application Form at a Participating Merchant; and
(f) provide a suitable credit or debit card for the purpose authorising regular direct debit repayments.
2. Your representations
2.1 By accepting these Terms and Conditions you acknowledge that PayRight has agreed to establish your PayRight Zero Account based on the information contained in your Application Form. You represent and warrant to PayRight that the information that you have provided in your Application Form is true and correct in every respect. If any of your personal details change (including your name or any contact details) or there is any change to your financial situation that may make it difficult for you to meet your repayment obligations under your PayRight Zero Account, then you must notify PayRight immediately. If you do not notify PayRight of any changes to your personal information or financial situation then PayRight will not be responsible for any issues or claims that may arise as a result of it being unaware of your changed circumstances.
2.2 By accepting these Terms and Conditions you also:
(a) consent to PayRight using your personal information to administer your PayRight Zero Account;
(b) consent to Participating Merchants using your personal information to administer and facilitate your purchases and related payments;
(c) consent to PayRight using your personal information in its dealings with credit reporting agencies in relation to your application for a PayRight Zero Account and PayRight’s subsequent management of your PayRight Zero Account;
(d) agree to repay all amounts charged to your PayRight Zero Account including all applicable fees and charges and any other amount properly charged in accordance with this Continuing Credit Contract; and
(e) warrant that the account details that you have provided in the Application Form for the purpose of the direct debit payments are true and correct and that direct debiting is available in connection with the nominated account.
3. How your account works
3.1 When PayRight receives your Application Form it will assess your application for credit in relation to the proposed purchase. PayRight reserves the right to approve or deny your initial application at its complete discretion. If it is your first application and PayRight decides that you are suitable, it will notify you that the Continuing Credit Contract is in effect and open your PayRight Zero Account immediately, after which you will be able to use it for your proposed purchase. You will receive a communication from PayRight informing you of the details of your PayRight Zero Account.
3.2 After the Initial Credit Amount is advanced, the Amount of Credit available through your PayRight Zero Account will be set to zero. You will not be able to request any further credit advances to make subsequent purchases until you have repaid some of the Initial Credit Amount.
3.3 Subject to clause 3.4, if you already have a PayRight Zero Account and you have repaid some of the Initial Credit Amount and any fees and charges, you may request further amounts of credit. The amount you may request is the difference between your Credit Limit and the amount outstanding under the PayRight Zero Account.
3.4 PayRight will only approve your request for a further advance if:
(a) you have completed an Application Form;
(b) the advance is for a purchase from a Participating Merchant;
(c) you are not in default under this Continuing Credit Contact and you have not been late on more than 3 repayments;
(d) your PayRight Zero Account has not been closed, suspended or terminated;
(e) you provide any documentation necessary by PayRight or the Participating Merchant to consider your application; and
(f) you provide any documents PayRight may reasonably require from time to time.
3.5 A separate Credit and Repayment Schedule will be provided for each subsequent purchase.
3.6 You may not be entitled to use your PayRight Zero Account to pay for the entire cost of a purchase from a Participating Merchant. After assessing your Application, PayRight will advise the Participating Merchant of the Amount of Credit available to you in relation to the proposed purchase. You may be required to pay part of the purchase price by way of deposit. PayRight will advise the Participating Merchant of the minimum deposit required in relation to a particular purchase (if any). You must pay any required deposit either directly to the Participating Merchant or if you applied online to PayRight during the application process. You will not be able to apply your PayRight Zero Account to the balance until the deposit has been paid and the Participating Merchant confirms they have provided or delivered the purchase
3.7 Your PayRight Zero Account is not transferrable and can only be used by you.
3.8 PayRight may review your PayRight Zero Account at any time and you must provide PayRight with any information it reasonably requires to conduct such review.
3.9 You may cancel your PayRight Zero Account at any time by notice to us provided any outstanding amounts have been paid and your PayRight Zero Account balance is zero.
3.10 PayRight may close your PayRight Zero Account if outstanding amounts have been paid and your account balance has been zero for at least 12 months. PayRight will give you 30 days’ notice of its intention to close your account.
3.11 You must pay any outstanding amounts due under your PayRight Zero Account immediately on giving or receiving notice that it is to be closed.
3.12 If you wish to open a new PayRight Zero Account after your PayRight Zero Account has been cancelled, you will have to re-apply to PayRight. PayRight reserves the right to approve or deny this new application at its sole discretion. If your application for a new PayRight Zero Account is approved, it will form a new Continuing Credit Contract between you and PayRight.
4.Fees and charges
4.1 PayRight will not charge you any interest on any credit provided by us to you through your PayRight Zero Account. However, you will be required to pay the fees set out in the Credit and Repayment Schedule. PayRight will not charge you any fees for providing credit under this Continuing Credit Contract that exceed $200 in the first 12 months after you open your PayRight Zero Account or $125 in any subsequent 12 month period.
4.2 You may also be required to pay additional reasonable fees related to the enforcement of the Continuing Credit Contract if you are in default, such as late payment fees or enforcement costs. These fees are not for providing the credit and do not fall within the limit described in clause 4.1.
4.3 Late payment fees will only be charged if you fail to make any scheduled repayments or if you fail to pay the total amount due under a Credit and Repayment Schedule by the due date. You will be notified of any applicable late payment fees in a Late Payment Notice. These fees are not for providing the credit and do not fall within the limit described above.
4.4 While your PayRight Zero Account remains active, PayRight may continue to charge account keeping fees which will be debited from your nominated account in accordance with the direct debit direction in the Application Form. This account keeping fee will be a monthly charge. Where there is an outstanding amount due under an existing Credit and Repayment Schedule, the monthly account keeping fee will be debited at the same time as a fortnightly repayment due under the Credit and Repayment Schedule (typically every second repayment). Where there is no existing Credit and Repayment Schedule, account keeping fees will be charged monthly on the final business day of the month.
4.5 PayRight may charge to your PayRight Zero Account any fees or charges arising under the Continuing Credit Contract including any late payment fees or enforcement fees.
5. Making purchases
5.1 You will be required to submit an Application Form and enter into a Credit and Repayment Schedule in relation to each purchase you make using your PayRight Zero Account. The Credit and Repayment Schedule will set out the:
(a) establishment fee (for new PayRight Zero Accounts only);
(b) Amount of Credit applicable to the purchase;
(c) total purchase price;
(d) number and amount of minimum repayments required;
(e) frequency of payments under the direct debit repayment plan; and
(f) applicable fees and charges.
5.2 Your PayRight Zero Account will remain active and available for you to make additional purchases unless your PayRight Zero Account is closed in accordance with these Terms and Conditions.
6. Making payments
6.1 Payments will be made by direct debit at regular intervals in accordance with the direct debit information provided by you in the Application Form and these Terms and Conditions. Each Credit and Repayment Schedule will set out the frequency and amount of the direct debit repayments required to satisfy payment of any applicable fees and charges and repayment of the credit provided.
6.2 From time to time, a direct debit may be unsuccessful (for example, because you do not have sufficient funds in your account). If a direct debit is unsuccessful further attempts may be made to deduct that amount. No more than one attempt will be made every business day. Your financial institution may charge you fees if this occurs. You must also pay the late payment fee in accordance with clause 6.4 below (except where the reason the direct debit is unsuccessful is due to our act or omission).
6.3 You can make additional repayments at any time or repay the total amount owing under a Credit and Repayment Schedule at any time. PayRight may charge you an additional payment fee in respect of any additional repayments you make. This additional payment fee is included in the calculation of the maximum fee amount in clause 4.1. For as long as there is an outstanding balance in respect of a Credit and Repayment Schedule you will be required to make the minimum repayments required in accordance with the direct debit arrangements regardless of whether you have made any additional repayments.
6.4 If you fail to make a minimum repayment by the due date (including because a direc