General Terms
1. Overview and Definitions
If you have opted in to receive Pay by Bank services, as confirmed in the Mint Commercial Proposal, then such services are governed by this Schedule 3.
(a) In the event of any inconsistency between the terms of this Schedule 3 and the Mint Global Terms and Conditions, the provisions of this Schedule 3 relating to Pay by Bank will prevail, without affecting the validity or enforceability of the remaining terms of the Agreement.
(b) Where Pay by Bank is offered to you in your relevant jurisdiction, you may elect to use this method to facilitate direct account-to-account payments. The following terms apply in addition to the general provisions governing Payment Services.
(c) The Pay by Bank Payment Service enables Customers to make payments directly from their bank account using local banking rails. The service comprises:
(i) Part B – PayID (Australia)
(ii) Part C – POLi / Merco (New Zealand)
(iii) Part D – Open Banking / Pay by Bank (United Kingdom)
(d) The following terms used in this section relate to your use of Pay by Bank:
(i) "Payment Agreement" means the payment agreement between you and us which authorises us or our Service Provider to arrange for payments to be made from your account via Pay by Bank.
(ii) "Payment Agreement Creation Request" means your request to us to create the Payment Agreement on your behalf.
2. Authorisation and Consent
(a) By requesting us or our Payment Service Provider to establish a Payment Agreement via Pay by Bank, you consent us and our Payment Service Provider to collect, use, and disclose your payment details, including any Account Identifiers and the relevant Payment Agreement details to facilitate the Payment.
(b) Not all financial institutions offer Pay by Bank services. If your financial institution does not offer Pay by Bank services, we notify you and offer you an alternative payment option.
(c) Once the Payment Agreement is authorised, we or our Payment Service Provider may initiate payments from your account in accordance with its terms. We may verify that the Payment Agreement remains valid and active (and has not been cancelled, suspended or otherwise amended by you) before processing any payment.
(d) If the Payment Agreement requires you to receive a billing notice prior to payment, we or our Payment Service Provider will not initiate payment unless such notice has been sent to the email or physical address you provided when establishing the Payment Agreement.
3. Availability and Processing
(a) If your financial institution offers Pay by Bank services, it will retrieve the Payment Agreement Creation Request and deliver it to you for review and authorisation. If your account is held jointly, your financial institution may require authorisation from all joint account holders. The method by which the Payment Agreement is presented to you is determined by your financial institution.
(b) Where Pay by Bank operates on a 24/7 basis, payments may be processed on a day that is not a Banking Day. We may elect to initiate payment on that day or the next available Banking Day. You should check with your financial institution if you are unsure when payments will be processed from your account.
(c) You must ensure that sufficient cleared funds are available in your account to meet each scheduled payment. If there are insufficient funds: (i) we or our Payment Service Provider may retry the payment up to three times on or after the scheduled payment date; (ii) you may incur fees and/or interest from your financial institution; (iii) you may also incur fees from us; and (iv) you must promptly arrange an alternative payment method or ensure that your account is sufficiently funded.
4. Changes and Termination
(a) We may vary the terms of this Schedule or any of our details in a Payment Agreement by providing you with at least 14 days’ written notice. Where re-authorisation is required, we will submit a revised Payment Agreement request through the relevant mandate system. Your financial institution will notify you and record your authorisation (if applicable).
(b) We may suspend or cancel a Payment Agreement at any time. If this occurs, no further payments will be processed under that Payment Agreement. The status of any Payment Agreement will be determined by the record held in the relevant mandate system.
5. Payment Obligations and Errors
(a) You are responsible for checking your account statements to verify that amounts debited are correct.
(b) If you believe a payment has been made in error, you may contact us via the support channels listed on our website, or contact your financial institution. If our investigation confirms that an error has occurred, we will arrange for your financial institution to adjust your account (including any applicable interest or charges) and notify you of the outcome. If no error is found, we will explain our decision and the reasons in writing.
6. User Responsibilities and Privacy
(a) You should: (i) confirm with your financial institution whether Pay by Bank is available from your account; (ii) ensure that your Account Identifiers are correct and in the required format; and (iii) contact your financial institution if you have any queries regarding the Pay by Bank service.
(b) We will handle any information provided by you in connection with a Payment Agreement, including account or Pay by Bank details, in accordance with our privacy policy. We will take reasonable steps to protect your information and ensure that our personnel and any relevant Payment Service Provider do not use or disclose your information other than as required to deliver the Pay by Bank service, to comply with legal obligations, or to manage a query or claim.
PayID (Australia)
1. Definitions
(a) PayID means the identifier you have registered in the NPP Addressing Service and which you provide to us as the identifier of your Account.
(b) NPP Addressing Service means the database of account proxy identifiers maintained by NPP Australia Limited.
2. Authorisation and Consent
(a) By requesting Mint or its Payment Service Provider (Zepto) to establish a Payment Agreement via PayID, you consent to Mint and Zepto collecting, using, and disclosing your payment details, including any Account Identifiers and the relevant Payment Agreement details, to facilitate the Payment.
(b) You grant Mint and Zepto permission to use your domains, URLs, and associated identifiers as reasonably required to provide the PayID service.
(c) You acknowledge that not all financial institutions offer PayID services. If your financial institution does not support PayID, we will notify you and offer an alternative payment option.
3. Availability and Processing
(a) You acknowledge and agree that Zepto’s processing of PayID transactions requires Mint and Zepto to handle Personal Data in accordance with applicable Privacy Laws.
(b) You consent to Mint and Zepto collecting and using Customer payment data, transactional data, and associated metadata solely for the purpose of facilitating payments, managing fraud/risk, and complying with applicable law.
(c) Our Privacy Policy applies in addition to Zepto’s disclosures, and to the extent of any inconsistency this Schedule prevails.
4. Liability
(a) Mint is not liable for delays, failures, or errors in PayID payments caused by your financial institution, Zepto, or your provision of inaccurate Account Identifiers.
(b) You indemnify Mint against any claim by Zepto or a Customer arising out of your use of PayID, except where caused by Mint’s fraud or wilful misconduct.
POLI / Merco (New Zealand)
1. Definitions
(a) POLi means the online banking payment service provided by Merco Limited.
(b) Merco means Merco Limited, Mint’s Payment Service Provider in respect of POLi transactions.
2. Authorisation and Consent
(a) By enabling POLi, you authorise Merco to process payments from Customers’ nominated bank accounts to your designated account.
(b) You consent to Mint and Merco accessing, using, and storing Customer account information and transaction details to facilitate payments and for compliance, reconciliation, and fraud detection purposes.
3. Customer Disclosures
(a) You must disclose to Customers that payments are processed via POLi, that Merco is the provider of the payment service, and that Customer information may be shared with Merco for the purposes of processing the transaction.
(b) You must provide Customers with accurate information on refunds, cancellations, and dispute processes in accordance with applicable consumer law.
4. Liability and Risk Allocation
(a) You are solely responsible for the accuracy of payment instructions provided through POLi.
(b) Mint is not liable for any failure by Merco or a Customer’s bank to complete a payment, unless caused by Mint’s fraud or wilful misconduct.
(c) You indemnify Mint against any losses or claims arising from POLi transactions, except where caused by Mint’s fraud or wilful misconduct.
5. Contracting Structure
(a) You acknowledge that your use of POLi is subject to Merco’s Payment Service Terms, as incorporated into this Agreement by reference.
(b) Where Merco requires updates to its merchant terms, Mint will notify you of such changes, and your continued use of POLi will constitute acceptance.
Open Banking / Pay by Bank (United Kingdom)
1. Definitions
(a) Open Banking Service means the account-to-account payment initiation services provided through a regulated third-party provider.
2. Authorisation and Consent
(a) By enabling Open Banking payments, you consent to Mint and its Payment Service Provider collecting, using, and transmitting your account identifiers, Customer details, and payment instructions to facilitate account-to-account transactions.
(b) You acknowledge that additional customer disclosures may be required by applicable Open Banking regulations in the UK, and you must cooperate with Mint to ensure compliance.
3. Privacy and Data Use
(a) Personal Data processed in connection with Open Banking is subject to UK GDPR and Mint’s Privacy Policy.
(b) You must notify Customers that their data may be shared with Mint and the relevant Open Banking provider for the purpose of initiating payments.
4. Liability and Risk Allocation
(a) Mint is not liable for any failure or delay in Open Banking transactions caused by the relevant bank or Open Banking provider.
(b) You remain responsible for disputes with Customers relating to non-delivery of goods or services, even where the payment was successfully processed.
(c) You indemnify Mint against any claim arising from Open Banking transactions, except where caused by Mint’s fraud or wilful misconduct.
5. Agent
(a) You agree with Token.io terms of service.