Bankroll Terms of Service

1. Applicable terms

1.1. These Terms apply whenever you access and use services on Bankroll. You must not use any services on Bankroll if you do not agree to these Terms.

1.2. You will also need to accept the terms of service of third party service providers in order to access and use services on Bankroll. This includes your chosen banking and technology service providers, It also includes our third party service provider Akahu Technologies Limited (Akahu enables you to connect a Linked Bank Account to Bankroll and, through Bankroll, authorise and instruct your bank to transfer amounts from that Linked Bank Account to your Bankroll Account from time to time). Subject to applicable law, we are not responsible for the products and services provided by these third parties. You must comply with all applicable third party terms of service when using Bankroll.

2. Amendments

2.1. We may amend these Terms (or any part of them) at any time by posting an updated version to the Website and sending out a notification on the App. We will give you reasonable prior notice of any such amendment (unless the amendment increases your rights or reduces your obligations, in which case the amendment may take effect immediately). By continuing to use services on Bankroll from the date on which these Terms are changed, you agree to be bound by the changed Terms. If you do not agree to any amendments, you can stop using services on Bankroll and close your Bankroll Account.

2.2. You can review the most current version of these Terms on the App and the Website at any time.

3. Conditions of use

3.1. In order to access and use services on Bankroll, you must at all times:

  • 3.1.1. have access to a compatible internet-enabled device and operating system;

  • 3.1.2. be in New Zealand and have a New Zealand bank account and mobile number in your name;

  • 3.1.3. be at least 18 years old;

  • 3.1.4. meet any other eligibility criteria set by us (acting reasonably); and

  • 3.1.5. satisfy all of our regulatory requirements (including in relation to identity checks).

3.2. You can only have one Account at any time.

3.3. You must let us know if any of your personal or contact details change.

3.4. You agree to provide us with any other information we reasonably request at any time, including information we request in order to assist us to comply with applicable regulation. You must make sure that all information you give us at any time is complete, correct, up-to-date and not misleading.

3.5. You must use any login or other security details required by us for the purposes of authorising payments or other transactions on Bankroll. You authorise us to carry out any payments or other transactions initiated using the required details. We are under no obligation to take any further steps to verify that you have authorised the payments or other transactions.

4. Bankroll services

4.1. You can use services on Bankroll to make a payment to, or request a payment from, another Bankroll user.

4.1. In order to do this, you must first add money to your Bankroll Account from a Linked Bank Account. By initiating this at any time through Bankroll, you are instructing and authorising your bank (through us as your agent using Akahu) to debit the relevant Linked Bank Account with the relevant amount and to transfer that amount to your Bankroll Account.

4.1. Payments into and out of your Bankroll Account can only be made in New Zealand dollars.

4.1. We may from time to time, acting reasonably, set limits on the payments you can make using services on Bankroll or the amount of money that can be held in your Bankroll Account.

4.1. We may offer or provide you with additional features and functionality for services on Bankroll, and we may ask you to install updates and upgrades to Bankroll. Unless we specify otherwise, these Terms will apply to any such features, functionality, updates or upgrades.

5. Trust account

5.1. All money credited to your Bankroll Account is held by us on bare trust for you as the beneficial owner. That means that we, as trustee, hold your money and deal with it only in accordance with your instructions given in accordance with these Terms. As trustee, we have no independent power, discretion or responsibility to deal with money in your Bankroll Account.

5.2. You can (via Bankroll) instruct us as trustee to pay out money from your Bankroll Account either to another Bankroll user or to a Linked Bank Account.

5.3. By accepting these Terms, you also give us as trustee standing instructions to:

  • 5.1.1. apply money from your Bankroll Account at any time to pay fees or other amounts payable by you to us in accordance with these Terms; and

  • 5.1.2. pay the balance of your Bankroll Account (less any fees or other amounts payable to us) to any Linked Bank Account if your Bankroll Account is closed.

5.4. As trustee, we hold your money in a trust account together with money held on bare trust for other Bankroll users.

5.5. You are not entitled to any interest earned on the balance of that trust account. You agree that we may keep that interest in consideration for acting as trustee.

6. Fees and charges

6.1. You must pay us the fees and charges relating to services on Bankroll, as specified in the App and on the Website at any time.

6.2. We may change the applicable fees and charges from time to time, by posting the updated fee or charge to the Website and sending out a notification on the App. We will give you reasonable prior notice of any such change (unless the change is a reduction, in which case it may take effect immediately). If you are not happy with any such change, you can stop using services on Bankroll and close your Bankroll Account.

6.3. You may be charged fees or charges by your chosen banking and technology service providers in connection with your use of services on Bankroll (for instance, in connection with transfers to your Bankroll Account or data usage).

7. Use of Bankroll and security

7.1. You must have sufficient available funds in your Bankroll Account to cover any payment that you wish to make to another Bankroll user at any time, as well as any fees or other amounts payable by you to us in accordance with these Terms. Your Bankroll Account cannot have a debit balance.

7.2. All authorisations or instructions given by you on Bankroll are irrevocable and unconditional once given (so you must check the amount and payee before initiating any payment). Any payment disputes between you and another Bankroll user must be resolved with the other Bankroll user directly.

7.3. When using services on Bankroll, you must:

  • 7.3.1. use Bankroll only for personal purposes (not in business or trade);

  • 7.3.2. use Bankroll in accordance with these Terms and not for any illegal purpose;

  • 7.3.3. not use Bankroll in a way that may damage, disable, overburden or impair either Bankroll or the networks connected to Bankroll or adversely affect the use or experience of any other user of Bankroll;

  • 7.3.4. not act in any way that, or use or introduce anything that in any way, compromises Bankroll or any underlying system nor otherwise attempt to damage or interfere with Bankroll or any underlying system;

  • 7.3.5. not attempt to gain unauthorised access to Bankroll, including but without limitation, through hacking or password mining; and

  • 7.3.6. not access Bankroll for the purpose of monitoring its availability, performance or functionality, nor for any other benchmarking or competitive purposes.

7.4. You must take all reasonable steps to prevent unauthorised access to Bankroll. This includes at all times keeping information about you and your Bankroll Account safe, and your computer, mobile phone, and other devices secure. You must choose login details that meet a high standard of strength, and you must not let anyone else use or see those login details. You must avoid clicking email links or downloading unknown software.

7.5. You must notify us immediately of any known or suspected unauthorised access to Bankroll. You must keep us updated on any action taken by you in respect of such an incident, and you must do anything we reasonably ask you to do in connection with such an incident. You should regularly check the records of your Bankroll Account on Bankroll.

7.6. To the maximum extent permitted by law, you (and not us) are responsible for any direct or indirect loss you incur if:

  • 7.6.1. you act fraudulently, negligently or dishonestly;

  • 7.6.2. you do not comply with these Terms or any other applicable terms and conditions (including third party terms and conditions); or

  • 7.6.3. you do not take reasonable steps to protect Bankroll.

7.7. To the maximum extent permitted by law:

  • 7.7.1. we do not promise that Bankroll will be available on a 24/7 basis, uninterrupted or without outages, nor that Bankroll is able to be downloaded or updated on any device, nor that Bankroll will not impair the functionality of any device; and

  • 7.7.2. we are not liable for circumstances beyond our control, including the actions or inactions of third parties (including third party service providers in respect of systems and services that support or interact with Bankroll).

8. Intellectual Property

8.1. Subject to your compliance with these Terms, we grant you a revocable non-exclusive, non-transferable and non-assignable right to access and use the services on Bankroll.

8.2. Bankroll and the services on Bankroll are protected by copyright and other interests and are proprietary and confidential to us (or our third party licensors or suppliers, as applicable). We (or our third party licensors or suppliers, as applicable) will retain all rights, title and interest in and to Bankroll and the services on Bankroll, including all Intellectual Property Rights.

8.3. Beyond the rights expressly granted to you, nothing contained in these Terms grants you any right or interest in, or licence to use, any of the Intellectual Property Rights in Bankroll and the services on Bankroll or any other Intellectual Property Rights owned by us or any of our third party licensors or suppliers. No copying, redistribution, displaying, performing, reproducing, licensing, transferring or publication of Bankroll and the services on Bankroll is permitted.

8.4. You agree that you will not, in any manner or by any means, reverse engineer, resell, adapt, reproduce, copy, store, distribute, print, display, publish or create derivate works from any part of Bankroll and the services on Bankroll, or attempt to commercialise, copy or sell any information or matters derived from Bankroll and the services on Bankroll.

8.5. You acknowledge and agree that:

  • 8.5.1. if you have accessed Bankroll via the operating system of Apple, Inc (Apple):
    1. these Terms are an agreement between you and us only (and not an agreement with Apple) and, subject to these Terms, we (not Apple) are solely responsible for Bankroll and the content of Bankroll;

    2. the licence granted to you under clause 8.1 above is subject to the Apple Media Services Terms and Conditions (including Usage Rules), as well as these Terms;

    3. Apple has no obligation to furnish any maintenance or support services with respect to Bankroll;

    4. in the event of any failure of Bankroll to conform to any applicable warranty, you may notify Apple, and Apple will refund the purchase price for the App to you (if applicable), but, to the maximum extent permitted by applicable law, Apple will have no other warranty obligation whatsoever with respect to Bankroll, and any other claims, losses, liabilities, damages, costs or expenses attributable to any failure of Bankroll to conform to any warranty will be our sole responsibility;

    5. we (not Apple) are responsible for addressing any claims by you or any third party relating to Bankroll or your possession and/or use of Bankroll, including, but not limited to: (i) product liability claims; (ii) any claim that Bankroll fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection, privacy, or similar legislation;

    6. in the event of any third party claim that Bankroll, or your possession and use of Bankroll, infringes that third party’s intellectual property rights, we (not Apple), will be solely responsible for the investigation, defence, settlement and discharge of any such intellectual property infringement claim;

    7. you are not (i) located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a “terrorist supporting” country; and (ii) listed on any U.S. Government list of prohibited or restricted parties; and

    8. Apple, and Apple’s subsidiaries, are third party beneficiaries of these Terms, and Apple will have the right (and will be deemed to have accepted the right) to enforce these Terms against you as a third party beneficiary of these Terms.

8.6. Apple, App Store and the Apple logo are trade marks of Apple Inc. Google Play, the Google Play logo and Android are trade marks of Google LLC.

9. Suspension, Termination and Account Closure

9.1. Without prejudice to any other right or remedy available to us, if (acting reasonably) we consider that you have breached these Terms or we otherwise consider it appropriate, we may immediately, and without prior notice, suspend or terminate your access to services on Bankroll or close your Bankroll Account.

9.2. You may stop using services on Bankroll and close your Bankroll Account at any time.

9.3. If your Bankroll Account is closed, you remain liable for all obligations relating to your Bankroll Account under these Terms.

9.4. We may also delay or decline to process any transaction initiated through Bankroll if (acting reasonably) we consider it appropriate, including for fraud, security or regulatory compliance reasons.

10. Contact details and dispute resolution

10.1. Our contact details which you should use to contact us with any questions, complaints or claims with respect to Bankroll are:

10.2. We are also a member of the external dispute resolution scheme run by Financial Services Complaints Limited. It is free to make a complaint to this independent dispute resolution scheme. This scheme can help you to resolve any disagreement you have with us. You can contact Financial Services Complaints Limited by:

11. Electronic Communications

11.1. You consent to receiving these Terms, and all other notices, documents and communications relating to these Terms, in electronic form and by electronic means and you agree that (subject to applicable legal requirements) we may use any electronic message address specified by you or we may communicate with you through the App for any purpose in connection with Bankroll services.

11.2. We consent to receiving notices, documents and communications from you in electronic form by email to or via the electronic message functionality in the App or the Website.

12. Electronic Communications

12.1. We will process transactions initiated through Bankroll as soon as practicable, but all payments are subject to normal banking clearance times.

12.2. If any part or provision of these Terms is or becomes illegal, unenforceable, or invalid, that part or provision is deemed to be modified to the extent required to remedy the illegality, unenforceability or invalidity. If modification is not possible, the part or provision must be treated for all purposes as severed from these Terms. The remainder of these Terms will remain binding on you.

12.3. Subject to any statutory right of set-off which we cannot exclude by agreement (such as under consumer protection legislation), you must pay all amounts due under these Terms in full without setting off amounts you believe we owe you and without counter-claiming amounts from us.

12.4. Any waiver of a right created under these Terms must be given in writing. Any failure to exercise or delay in exercising any right under these Terms does not constitute a waiver of that right and any single or partial exercise of any right does not preclude any further exercise of that or any other right.

12.2. You agree that (subject to applicable laws) we may assign, transfer or otherwise deal with our rights and/or obligations under or in connection with these Terms (in whole or in part) to any other person without your further consent or notice. Any person to whom our rights or obligations are transferred will have the same rights or obligations (as the case may be) that we do under these Terms. You also agree that we may subcontract our obligations under these Terms.

12.2. You must not assign, transfer or otherwise deal with any of your rights and/or obligations under or in connection with these Terms without our prior written consent, which will not be unreasonably withheld.

12.2. You may not assign or transfer any of your rights or obligations under these Terms without our prior written approval.

12.2. These Terms, and any dispute relating to these Terms, Bankroll or the services on Bankroll, are governed by and must be interpreted in accordance with the laws of New Zealand. Each party submits to the non-exclusive jurisdiction of the courts of New Zealand in relation to a dispute connected with these Terms, Bankroll or the services on Bankroll.

13. Definitions

13.1. In these Terms, the following terms have the following meanings:

Account means the account we establish in your name and which is debited and credited with transactions you make through Bankroll.

App means the peer-to-peer payment application developed and maintained by us.

Bankroll means the App and Website.

Intellectual Property Rights means any intellectual property rights in existence now or coming into existence in future and includes (but is not limited to) rights in respect of copyright, trade marks (whether registered or unregistered), inventions, patents, designs (whether registered or unregistered), confidential information and know how, and all content and software code underlying Bankroll, and any improvements, enhancements, modifications or adaptations to Bankroll.

Linked Bank Account means any account in your name with a bank or other financial institution in New Zealand (in each case approved by us), which you have nominated as a linked bank account for Bankroll.

Terms means these terms of service as updated from time to time by us.

You means the customer who has downloaded the App.

We (and our and us) means Stakeback Limited trading as Bankroll (FSP768315).

Website means the website developed and maintained by us and located at

13.2. The words 'including', 'for example' or 'such as' when introducing an example, do not limit the meaning of the words to which the example relates to that example or examples of a similar kind.

13.3. A reference to a document (including these Terms) includes any variation or replacement of it.

13.4. A reference to a statute or a provision of a statute includes that statute or provision as amended, modified, substituted or re-enacted from time to time and any regulations, orders in council and other instruments issued or made under that statute from time to time.

13.5. A reference to a particular person or entity includes a reference to the person or entity's executors, administrators, successors, substitutes (including persons taking by novation) and assigns.