Brolly is now open for early access — Register here
1.1 Stash Me Ltd (trading as Brolly) (Brolly) is a company registered in Australia. Brolly operates a technology platform that matches Lenders and Borrowers for the purpose of Lenders advancing Borrowers small loans under $2,000. Brolly itself also provides loans via this platform. We are not a bank.
1.2 Brolly provides this platform through its iOS and Android App (thebrolly.app) and also operates a website (www.thebrolly.app).
1.3 In this document,‘Brolly, ‘we’, ‘our’ and ‘us’ means Stash Me Ltd.
1.4 This document sets out the terms and conditions that apply to the entirety of your relationship with Brolly, including each individual Loan Contract you enter into as a Lender, and your use of your Account and our App, Platform and website (the ‘Services’). These Terms and Conditions continue to apply even if you have repaid or terminated a Loan Contract or if you have downloaded our App but have not created an Account. In the case of any inconsistency between a Loan Contract and these Terms and Conditions, the relevant content of these Terms and Conditions will apply.
1.6 By accessing any of the Services, you agree to be bound by these Terms and Conditions.
1.5 These Terms and Conditions, together with each Loan Contract form the legal agreement between you and us. Please read these documents carefully before deciding whether to use, or continue to use, the Services.
2.1 You are eligible to apply to open an Account to become a Lender if all of the following apply to you:
a. you’re a natural person who is 18 years of age or older;
b. you’re resident in Australia and are either an Australian citizen or permanent resident;
c. you have a valid Australian bank account;
d. we are able to successfully verify your identity in accordance with our policies and any relevant regulatory requirements.
2.2 You cannot open more than one Account. You may not be able to open a new Account if we have previously terminated an Account you have held with us.
2.3 We are under no obligation to provide you with any Services. Notwithstanding that you may fulfil the above requirements, we reserve our right to refuse any application to open an Account as a Lender, without providing any reason.
3.1 You cannot request a Transaction or use the App until you have activated your Account in accordance with the below steps:
a. you must register for an Account by entering a valid email address, phone number and choosing a secure password;
b. you must verify your Account by following the link and instructions sent to the email address or phone number you provided as part of registration;
c. you must upload a copy of your identification such as your driver’s licence or passport to the App to enable us to verify your identification in accordance with our requirements;
d. you must tell us whether you are applying to become a Lender; and
e. you must securely connect a valid Australian bank account.
4.1 We may provide you with an Account if we are satisfied that you are eligible to be a Lender and have successfully completed your Account activation.
4.2 We reserve the right to refuse to provide you with an Account, including where we form the view that doing so would cause us to breach our regulatory obligations.
4.3 You acknowledge and agree that in determining whether to provide you with an Account, we may rely on the information and documents you provided in connection with your Account activation. We may also rely on additional information that we obtain from third parties, including (but not limited to) a credit reporting agency.
4.4 If you do not provide us with complete and accurate information, we will be unable to provide you with an Account.
4.5 If we choose not to provide you with an Account, we will notify you in writing.
5.1 In addition to meeting the eligibility criteria in 2.1, you are not eligible to participate as a Lender if you offer, or intend to offer, loans as a representative, employee,agent or contractor of a corporate entity, either directly or indirectly.
5.2 To participate as a Lender, you must securely connect your PayID from an Australian bank account held in your name to your Brolly Wallet and deposit a minimum amount of $100 into your Brolly Wallet.
5.3 By depositing the minimum amount of funds, you acknowledge and agree that we may allocate your funds to a Borrower at any time.
5.4 If you do not deposit the minimum funds in your Brolly Wallet, we will be unable to match you to a Borrower and you will not be able to participate in any lending activities.
5.5 Unless clause 5.6 applies to you, you will be able to deposit a maximum of $2,000 into your Brolly Wallet for the purpose of lending funds to Borrowers.
5.6 Subject to clause 5.10 below, we may, on your request, increase your deposit limit to allow you to lend more than $2,000 (at our absolute discretion). You must contact us directly via the App or email to request an increase in your deposit limit. We may request additional information or documents from you to satisfy us of your credit history. For the avoidance of doubt, if your deposit limit is reduced, you will only be able to deposit funds up to your new deposit limit moving forward. Any excess funds (above your new deposit limit) will not be automatically refunded back to your nominated bank account, but can be withdrawn at your request at any time.
5.7 We reserve the right to refuse to increase your deposit limit for any reason, or to decrease your deposit limit.
5.8 You acknowledge and agree that we do not guarantee that your deposited funds will be continuously lent out or lent out in full while they are deposited in your Brolly Wallet.
5.9 You also acknowledge and agree that there are risks involved with being a Lender which may include you losing your principal investment due to a Borrower defaulting on your Invested Funds in circumstances where we do not have sufficient funds in the Brolly Assurance Account to repay the loan amount.
5.10 We may increase your deposit limit to more than $2,000 if you are a Premium Brolly Lender who has loaned Invested Funds of more than $10,000 in aggregate.
5.11 You agree to the rate of return that is automatically applied to your Invested Funds under the relevant Loan Contract (which may be subject to change for each 30-day cycle). However, we will provide you with notifications of any increases or decreases in the rate of return in a timely manner, and provide you with written notice of any significant changes at least seven calendar days before such changes will take effect.
6.1 Brolly is a lender. We also intermediate loans between Borrowers and Lenders, using our proprietary algorithm to connect a Borrower to a Lender and collect repayments under a Loan Contract.
6.2 You will not be able to select a specific Borrower to provide a loan to.
6.3 We may diversify your deposited funds across multiple Borrowers to minimise risk, subject to the amount of your deposited funds and availability of Lenders and Borrowers. Each loan will be funded by only one Lender.
6.4 If a Borrower fails to repay their loan at the end of a 30-day cycle, we will repay you your principal loan amount plus any Annual Return owing from the Brolly Assurance Account subject to their being sufficient funds in the Brolly Assurance Account to do so. As outlined in clause 5.9 of the Terms and Conditions, we cannot guarantee that repayment in the event of a Borrower default will occur. For the avoidance of doubt, where a Borrower defaults on multiple Loan Contracts, there payment from the Brolly Assurance Account will be made according to the Due Dates of the relevant Loan Contracts.
6.5 You acknowledge and agree that neither your Invested Funds or the balance of your Brolly Wallet constitute a deposit with, or a loan to, Brolly.
6.6 In circumstances where we cannot repay a Borrower’s defaulted loan from the Brolly Assurance Account, we will use our best efforts to recover a Borrower’s default amount (including outstanding principal and any fees) through an automated debt collection process.
7.1 At the conclusion of your 30-day loan to a Borrower, we will repay you your Invested Funds plus Annual Return received from the Borrower. Your return amount will be credited to your Brolly Wallet. You acknowledge and agree that we will pay these funds via our inter mediated processes and that you are not entitled to directly collect repayment from any Borrower.
7.2 You agree and acknowledge that we cannot and do not guarantee any particular return. We will calculate your Annual Return based on the amount of your Invested Funds during a 30-day cycle.
7.3 For example, if you invest $1,000 for a 30-day cycle, you may earn a rate of return of ~$16.60(1.66% or $1.66 per $100), which can vary each cycle. Assuming that you have been consistently lending Invested Funds over 12 cycles (per annum), you could potentially earn ~$199.20 in total, paid monthly, equating to a simple annual return of~20%. Returns are not guaranteed and may be subject to change.7.4
7.4 We reserve the right to change the amount or payment of the Annual Return at any time. Where we make any changes, we will notify you in writing in accordance with clause 11.
8.1 You may request to withdraw your funds from your Brolly Wallet at any time.
8.2 We will aim to process your withdrawal request instantly where you do not have any Invested Funds. We will take all reasonable steps to make the withdrawal amount available within one hour from your request.However, we rely on third party payment processing and will not be responsible for delays.
8.3 You may request the withdrawal of any Invested Funds before the end of the relevant 30-day lending cycle. If you do so, we will not pay you any Annual Return in relation to your Invested Funds for the relevant Transaction.Subject to clause 19, we may further assign the Loan Contract to another Lender, or take ownership in our capacity as a Lender (at our absolute discretion) and take reasonable steps (but will not be obligated) to repay the Loan Contract. Once we have received your withdrawal request, we will take reasonable steps to make the relevant funds available to you within 2 days. However, we rely on third party payment processing and will not be responsible for delays.
8.4 You may incur a Transaction Fee in relation to your withdrawal request which will be automatically deducted from your withdrawal amount.
8.5 We will notify you upon the end of the relevant 30-day lending cycle. You acknowledge and agree that if you do not withdraw your funds from your Brolly Wallet to your bank account at the end of a 30-day cycle, we may apply your funds to another loan for a further 30-day cycle.
8.6 You should consider carefully whether you may require the funds in your Brolly Wallet during a 30-day cycle before depositing funds or continuing to make them available.Failure to do so may result in you incurring a Transaction Fee, losing any accrued Annual Interest or not being able to access your funds in a timely manner.
9.1 You may close your Account at any time by:
a. withdrawing all funds that you have deposited into your Brolly Wallet to your nominated bank account; and
b. contacting us via the App or email to request the closure of your Account and if applicable,requesting any Invested Funds (including any interests accrued) and the remaining balance in the Brolly Wallet be returned.
9.2 We will provide you with confirmation of your request to close your Account, as well as any additional actions that you may be required to take to finalise your Account closure.
9.3 We will return any Invested Funds to you in accordance with clauses 8.3 and 8.4 above.
9.4 We reserve the right to terminate your Account at any time where reasonably necessary to protect our legitimate interests, including where you have breached an obligation set out in the Terms and Conditions that we deem to be significant.
9.5 Where we have provided you with notice of the termination of your Account and you have Invested Funds, we will return the Invested Funds (with accrued interest, if applicable) to your Brolly Wallet as they are repaid by the Borrower. Subject to clause 8.3, if you request the withdrawal of any Invested Funds before the end of the relevant 30-day lending cycle, we may assign the Loan Contract to another Lender or take on the Loan Contract (at our absolute discretion).
9.6 Where we have terminated your Account, this may prevent you from accessing or using our App in the future.
Provide accurate and up-to-date information
10.1 You must provide us with accurate, current and complete statements, information and documents that we request in connection with your application for registration for an Account.
10.2 You must ensure that you maintain and promptly update any information you have provided in connection with your Account that is no longer accurate, current or complete.
10.3 You acknowledge that we have relied on the accuracy and currency of the information you have provided in approving your registration to become a Lender and in our continued dealings with you.
Changes in your circumstances
10.4 You must inform us immediately of any changes in your personal or financial circumstances, including when:
a. any of the contact details you have provided in relation to your Account have changed, such as your name, address, phone number or email address;
b. you have been declared a bankrupt or commit an act of bankruptcy;
c. your nominated bank account has been closed; or
d. you no longer meet our eligibility criteria for an Account, or Lender; or
e. you are not able to comply with any of your responsibilities in this clause 10 or any of your other obligations in the Terms and Conditions.
10.5 Where your financial circumstances have changed and you are a Borrower, you must not apply for a loan unless and until you have notified us of the change in your financial circumstances and we have assessed your credit worthiness.
Keeping your Account safe
10.6 You must ensure that your Account credentials remain confidential and secure, and take precautions as are necessary to ensure that another person is not able to access your Account.
10.7 You should ensure that you use a strong password that is difficult to guess and enable two-factor authentication to assist you in securing your Account.
10.8 You must change your password immediately if you know or suspect that:
a. another person knows your password;
b. there has been unauthorised access to your Account; or
c. your password has been involved in a data leak.
10.9 You should not share your password with anyone else or store it in your computer or mobile device.
10.10 You must notify us immediately if you become aware or suspect that your Account credentials have been compromised or there has been unauthorised access to your Account.
Liability for unauthorised transactions on your Account
10.11 You are liable to us for unauthorised transactions on your Account in circumstances where you have:
a. failed to advise us of any actual or suspected unauthorised access to, or use of, your Account;
b. failed to take precautions to safeguard your password and Account credentials;
c. knowingly or negligently provided your password to someone;
d. failed to change your password in circumstances where you know, or ought reasonably to know, that someone knows your password or it has been involved in a data leak;
e. committed fraud;
f. provided us with false information in relation to your identity; or
g. failed to securely connect your bank account to your Account.
Restrictions on use
10.12 Our App and Platformare not intended for distribution to, or use by, any person who:
a. is under the age of 18 years old, or not of legal competence or sound mind;
b. is not ordinarily resident in Australia;
c. is not an Australian citizen or permanent resident;
d. offers, or intends to offer, loans as a representative, employee, agent or contractor of a corporate entity, either directly or indirectly.
Proper use
10.13 You must only use our Platform, borrowing or lending services in accordance with the Terms and Conditions and for so long as we authorise you to do so.
10.14 You must not use our Platform, borrowing or lending services for any illegal or fraudulent purposes.
10.15 You must not take any actions which cause or may cause the provision of our App, Platform, borrowing or lending services to be compromised or interrupted. This includes by attempting to gain unauthorised access to or control of our App or Platform, or by uploading or emailing us any files that are corrupt or contain a virus.
10.16 You must promptly inform us if you breach the Terms and Conditions.
11.1 We may change the features of the Services or amend the Terms and Conditions at any time.Generally, we will do so when there is a change in our legal requirements,internal policy, or products or services.
11.2 We will provide you with notice of any changes at least seven days before such changes will take effect by:
a. a pop-up notification in our App;
b. emailing you a copy of the updated Terms and Conditions or information about how you can access them; or
c. posting the amended Terms and Conditions to our website.
11.3 You agree to be bound by the amended Terms and Conditions following such changes coming into effect.
11.4 If you do not consent to the changes to Terms and Conditions, you may request that we terminate your Account. Termination does not affect any obligations owed by you or any of your rights in respect of any outstanding Transaction.
12.1 Each time you engage in a Transaction, you agree and acknowledge that you meet and will continue to meet:
a. the eligibility criteria provided in clause 2.1 of the Terms and Conditions;
b. any additional eligibility criteria for a Lender provided in clause 5 ;
c. all of your responsibilities as provided in clause 11 of the Terms and Conditions; and
d. all of your obligations provided in the Terms and Conditions.
12.2 You agree and acknowledge that any breach by you of any of these representations or warranties may cause us to terminate your Account or void any Transaction.
13.1 We do not warrant that:
a. the App or Platform will meet your requirements;
b. you will be able to connect your device to the App;
c. we will be able to match a Lender with a Borrower to facilitate you entering into a Transaction;
d. you will not experience any delays when using the Services;
e. your use of the App or Platform will always be uninterrupted, secure or error-free
f. we will be able to detect and correct any or all errors or bugs in the App or Platform; or
g. we will prevent third party disruptions or security breaches of our App or Platform.
13.2 All funds deposited into the Brolly Wallet are held by a third party payments service provider for the benefit of the Lender, unless they are loaned to Borrowers.
13.3 We do not use a Lender’s funds for any purpose other than facilitating loans to Borrowers via our Platform.
13.4 While we take all reasonable steps to meet our obligations under the Terms and Conditions, we are not responsible for delays, including payment processing delays or other delays caused by third parties or otherwise outside our control.
13.5 The Services are not intended to provide any financial product advice. Any financial product advice set out on our website or communicated through any of the Services is general in nature, and does not consider your individual situation, objectives or needs. You should seek advice on these and consider any relevant information memorandum before making a decision about any financial product.
14.1 These terms and conditions are governed by the laws of the State of New South Wales, Australia.You agree that the App, Platform and all Transactions carried out in respect of your Account will be governed by the law of the State of New South Wales,Australia, irrespective of your location.
14.2 You agree that the Courts of New South Wales, Australia will have non-exclusive jurisdiction. We reserve our right to commence proceedings in any Court of competent jurisdiction where reasonably necessary to protect our legitimate interests.
15.1 We are required to collect, hold, use and disclose your personal information for the purpose of providing you with our App and Platform.
15.2 We have obligations under the Privacy Act 1988 (Cth) in relation to protecting your personal information. To the extent applicable, we also comply with applicable privacy obligations in the European Union General Data Protection Regulation.
15.3 For more information about how we handle your personal information and meet our privacy obligations,please see our Privacy Policy.
16.1 We are required to comply with the AML/CTF Act and other laws in relation to the provision of our services. This includes verifying your identity before we provide you with your Account and to undertake ongoing monitoring and due diligence.
16.2 We will not be able to provide you with access to our App or Platform unless and until your personal identity is successfully verified. We reserve the right to refuse to provide you with an Account or to terminate your Account if we are not satisfied as to your personal identity or we are unable to meet our AML/CTF obligations or requirements of our internal policies.
16.3 You agree that we may use your personal information for the purpose of verifying your identity and undertaking ongoing due diligence as required by the AML/CTF Act or in accordance with our policies.
16.4 We may engage an external third party as our agent to undertake the verification of your personal identity or ongoing due diligence. You agree that we may provide your personal information to any third party we engage for this purpose.
16.5 We, or our agents acting on our behalf, may request a credit reporting agency to assist in the verification of your identity. You agree that we may disclose your personal information to a third parties, including (but are not limited to) credit reporting agency for this purpose.
16.6 If you provide us with any false or inaccurate information or we identity any fraudulent activity by you or in relation to your Account, we may:
a. report this to fraud prevention agencies or law enforcement or other regulatory bodies;
b. freeze or terminate your Account, or delay or block certain Transactions or the release of any monies on your instructions.
16.7 You agree to notify us of any changes to your personal or financial information by updating your profile via the App.
16.8 We will keep information about you and your Account for as long as necessary to meet our legal obligations and internal policy requirements.
17.1 We aim to provide you with high-quality service. However, if you would like to make a complaint about us or to us, you may contact us by:
a. emailing us at hello@thebrolly.app; or
b. lodging a complaint via the chat box function or under the “Lodge Complaints” section on the App.
17.2 We will handle your complaint in accordance with our Complaints Policy and Procedure.
17.3 Where we are required to provide you with a final response to your complaint, we will do so no later than 30 calendar days. If we are unable to meet this timeframe, we will notify you and provide you with the reasons for our delay as well as how you may escalate your complaint.
17.4 If you remain dissatisfied with our response to your complaint, you may refer your complaint to the Australian Financial Complaints Authority (AFCA), who provides a free and independent dispute resolution service for financial complaints. AFCA’s contact details are:
a. Phone: 1800 931 678(free call within Australia)
b. Email: info@afca.org.au
c. Mail: GPO Box 3,Melbourne, VIC 3001
d. Website: www.afca.org.au
18.1 If any clause of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, it shall be severed from these Terms and Conditions.
18.2 Any such severance does not affect the validity and enforce ability of the remaining clauses in that jurisdiction or the validity and enforce ability of the offending provision in any other jurisdiction.
19.1 You may not assign or transfer all or any part of your rights or obligations under these Terms and Conditions without our prior written consent.
19.2 You acknowledge and agree that we may assign our rights or obligations under these Terms and Conditions without your prior written consent. Such assignment will only take place where a reasonable person would not expect it to cause detriment to a typical Lender. This will not affect any of your existing obligations arising from Transactions entered into under these Terms and Conditions.
19.3 You consent to us disclosing any information or documents relating to you that we deem necessary to assign our rights or obligations in the event that you forfeit a Loan Contract. You agree to execute any document reasonably required by us to effect such an assignment.
19.4 If you do not agree to us assigning our rights or obligations, you may close your Account.
20.1 The Terms and Conditions constitutes the whole of the agreement between Brolly and a Lender.It supersedes and extinguishes any previous agreement or understanding about the subject matter of these Terms and Conditions and any representation or warranty previously given.
20.2 You acknowledge and agree that you have not relied on any statement, representation, assurance, or warranty made or given by any other party, other than as expressly set out in the Terms and Conditions.
21.1 Any failure to exercise, or delays in exercising, a right, power, or remedy provided by the Terms and conditions or at law or in equity does not waive that right, power,or remedy.
21.2 A single or partial exercise of a right, power, or remedy does not prevent another or further exercise of that or another right, power, or remedy.
21.3 A waiver of a breach of the Terms and Conditions will not constitute a waiver of any other breach and will not affect any of the other terms and conditions.
21.4 The rights and remedies provided by the Terms and Conditions are cumulative and are not exclusive of any other rights or remedies provided at law or in equity.
22.1 You can access and download a full, printable version of these Terms and Conditions from the App or through our website. This will enable you to review the Terms and Conditions at any time, even without access to the internet.
23.1 You acknowledge that all content on our App or website, including texts, graphics, logos, and software, is owned by us or our licensors, and is protected by copyright and intellectual property laws.
23.2 You acknowledge that we have granted you a limited licence to access content on our App for your personal use. Any content generated by you using our App remains your property,but you grant us a non-exclusive licence to use your content within the App, and in limited circumstances,grant us a non-exclusive licence to use your content external to the App (with your consent and as separately agreed with you).
Account means the account set up in our App for a Lender to enable them to use our Platform for the purpose of lending funds.
AML/CTF means anti-money laundering and counter-terrorism financing.
Annual Return means the financial return that Brolly may pay to a Lender, generated by and calculated on the Lender’s Invested Funds.
App means the Brolly App available on iOS or Android which is owned and operated by Brolly and provides Lenders and Borrowers with access to the Platform.
Borrower means a person who uses an Account to request loans.
Brolly means Stash Me Ltd (ABN 34 676 699 531).
Brolly Wallet means the virtual wallet provided to each Lender via the App.
Due Date means the date specified in your Loan Contract that you are required to repay your loan in full, which is 30-calendar days after you receive your initial loan amount.
Invested Funds means a Lender’s funds that have been loaned to a Borrower under the relevant Loan Contract(s).
Lender means a person who uses an Account to make funds available for lending.
Loan Contract means the agreement between a Lender and Borrower that specifies the details of a particular loan that you enter into as a Lender, including the loan amount and Due Date. The Terms and Conditions also apply to your Loan Contract.
Platform means the technology platform operated by Brolly that facilitates a Borrower borrowing funds from a Lender and a Lender providing funds by way of a loan to a Borrower.
Premium Brolly Lender means a Lender who maintains consistent Invested Funds across multiple 30-day cycles with minimal early withdrawals or Loan Contract terminations, as tracked by the App. This status may be assigned by Brolly (at its absolute discretion) and may unlock benefits including (but are not limited to) priority access to Borrower matching,increased deposit limit to more than $2,000 per Loan Contract, or bonus features,as determined by Brolly, with the aim of rewarding consistent lending of Invested Funds.
Terms and Conditions means this document which sets out the master terms and conditions that apply to the entirety of your relationship with Brolly including each individual Loan Contract that you enter into as a Lender, and your use of your Account and our App, Platform and website.
Transaction means either a loan provided by a Lender to a Borrower or a loan received by a Borrower from a Lender, as the context requires.
Transaction Fee means a fee of $2 charged to a Lender in respect of an applicable Transaction.
We, us, our means Brolly.
You means the user of an Account or any other Services.
1.1 Stash Me Ltd (trading as Brolly) (Brolly) is a company registered in Australia. Brolly operates a technology platform that matches Lenders and Borrowers for the purpose of Lenders advancing Borrowers small loans under $2,000. Brolly itself also provides loans via this platform. We are not a bank.
1.2 Brolly provides this platform through its iOS and Android App (thebrolly.app) and also operates a website (www.thebrolly.app).
1.3 In this document, ‘Brolly,‘we’, ‘our’ and ‘us’ means Stash Me Ltd.
1.4 This document sets out the terms and conditions that apply to the entirety of your relationship with Brolly, including each individual Loan Contract you enter into as a Borrower,and your use of your Account and our App, Platform and website (the ‘Services’). These Terms and Conditions continue to apply even if you have repaid or terminated a Loan Contract or if you have downloaded our App but have not created an Account. In the case of any inconsistency between a Loan Contract and these Terms and Conditions, the relevant content of these Terms and Conditions will apply.
1.5 These Terms and Conditions,together with each Loan Contract form the legal agreement between you and us.Please read these documents carefully before deciding whether to use, or continue to use, the Services.
1.6 By accessing any of the Services, you agree to be bound by these Terms and Conditions.
2.1 You are eligible to apply to open an Account to become a Borrower if all of the following apply to you:
a. you’re a natural person who is 18 years of age or older;
b. you’re resident in Australia and are either an Australian citizen or permanent resident;
c. you have a valid Australian bank account;
d. we are able to successfully verify your identity in accordance with our policies and any relevant regulatory requirements.
2.2 You cannot open more than one Account. You may not be able to open a new Account if we have previously terminated an Account you have held with us.
2.3 We are under no obligation to provide you with any Services. Notwithstanding that you may fulfil the above requirements, we reserve our right to refuse any application to open an Account as a Borrower, without providing any reason.
3.1 You cannot request a Transaction or use the App until you have activated your Account in accordance with the below steps:
a. you must register for an Account by entering a valid email address, phone number and choosing a secure password;
b. you must verify your Account by following the link and instructions sent to the email address or phone number you provided as part of registration;
c. you must upload a copy of your identification such as your driver’s licence or passport to the App to enable us to verify your identification in accordance with our requirements;
d. you must tell us whether you are applying to become a Borrower; and
e. you must securely connect a valid Australian bank account.
4.1 We may provide you with an Account if we are satisfied that you are eligible to be a Borrower and have successfully completed your Account activation.
4.2 We reserve the right tore fuse to provide you with an Account, including where we form the view that doing so would cause us to breach our regulatory obligations.
4.3 You acknowledge and agree that in determining whether to provide you with an Account, we may rely on the information and documents you provided in connection with your Account activation. We may also rely on additional information that we obtain from third parties, including (but not limited to) a credit reporting agency.
4.4 If you do not provide us with complete and accurate information, we will be unable to provide you with an Account.
4.5 If we choose not to provide you with an Account, we will notify you in writing.
5.1 In addition to meeting the eligibility criteria in 2.1, you must also have a regular income to become a Borrower.
5.2 You may apply for a loan by completing the Loan Contract, which can be accessed via the App.
5.3 Based on your approved maximum borrowing limit, you can have multiple loans at any given time up to the approved maximum borrowing limit in aggregate in a calendar year. This does not include Reborrowed Loan Amounts.
5.4 We reserve our right to refuse any loan application, including because of:
a. your credit worthiness or Brolly Ranking;
b. not being able to match you with a suitable Lender;
c. us forming the view that approval may mean we cannot meet our policies, legal or regulatory obligations;
d. your financial circumstances; or
e. any breach by you of our Terms and Conditions.
5.5 We will take reasonable steps to provide you with an instant decision about your loan application.
5.6 Where we approve your loan,we will disburse your loan amount to the bank account you connected to your Account in the App. We will take reasonable steps to make the loan amount available within one hour from the approval of your loan. However, we rely on third party payment processing and will not be responsible for delays.
5.7 Where we refuse your loan application, we will notify you in writing via the App or email.
5.8 You acknowledge and agree that we do not guarantee we will be able to provide you with a loan.
6.1 We will limit the amount of your first loan request. You will be able to apply for a loan in the amount of $100, $200 or $800, as determined by us.
6.2 We may increase your borrowing limit to a loan amount of up to $2,000 if you are a Premium Brolly Borrower, who has demonstrated good financial behaviour by repaying your loans consistently by the Due Date.
6.3 We may also reduce your borrowing amount limit at any time, without obtaining your consent. We may do so where this is reasonably necessary to protect our legitimate interests,including (but not limited to) situations where we believe you may be unable to repay a higher loan amount.
6.4 We will provide you with written notice of any significant changes at least seven calendar days before such changes will take effect. We will also notify you of the loan amounts you maybe able to apply for under your new limit.
7.1 You agree to meet your obligations as set out in each Loan Contract. In particular, you must repay your loan in full by the Due Date, which is 30 calendar days from the time that the Loan Contract comes into effect, as shown via the App (unless clause 10 applies).
7.2 You agree to repay the loan amount by one payment, so that the loan amount owing for each Loan Contract is paid in full by the Due Date. You acknowledge that no partial payment options will be available for any Loan Contract.
7.3 Repayments may be made via the “PayTo” functionality in the App, which involves direct debit from your nominated bank account.
7.4 You are responsible for ensuring we receive repayment of your loan in full on or before the Due Date,including by ensuring you have sufficient funds available in your connected bank account for any scheduled direct debit repayments.
7.5 If you are unable to repay your loan in full by the Due Date, you must contact us as soon as possible to discuss a suitable alternative payment plan option. You agree and acknowledge that we do not guarantee that we can provide an alternative payment plan, or that we can agree to a particular type of payment plan.
7.6 Any late repayments may negatively impact your Brolly Ranking and borrowing limit.
8.1 We do not charge any interest on your loan amount. We charge you a Service Fee in relation to your loan amount.
8.2 We do not charge any additional fees provided you repay your loan amount in full before the Due Date.
8.3 Where you repay your loan amount in full before the Due Date, you may reborrow the same loan amount as many times as you would like during the No Service Fee Period. You will not be required to pay the Service Fee on a Reborrowed Loan Amount during the No Service Fee Period. You will be required to repay the Reborrowed Loan Amount in full on or before the initial Due Date.
8.4 We will deduct from your loan funds the Service Fee applicable to your loan at the time the loan funds are provided to you. You acknowledge and agree that we will be entitled to retain the amount of the Service Fee for our benefit or for the benefit of any relevant Lender, and that this portion of the loan funds will not be available to you. You also acknowledge and agree that the loan amount you must repay will include (and not exclude) the amount of the Service Fee.
8.5 Where you do not repay your loan in full by the Due Date, we will charge you a Late Fee in accordance with your Loan Contract. The Late Fee represents a portion of the costs that we incur when you do not repay your loan by the Due Date.
9.1 We encourage you to contact us as soon as possible before the Due Date if you are unable to repay your loan so that we may discuss potential alternative payment arrangements that may be suitable to you.
9.2 If we do not hear from you and you do not repay your loan in full by the Due Date, we will attempt to direct debit your outstanding loan amount plus any Late Fees from your nominated bank account.
9.3 If we have not received payment of your loan plus any Late Fee in full by 90 days after we provided you with the loan, we will consider you to be in default in relation to your loan.
9.4 In the event of default, we will attempt to recover the outstanding loan amount from you by using an automated debt recovery process.
9.5 You will be liable for any enforcement fees or costs we incur in the enforcement of your Loan Contract.
9.6 We may report your defaulted loan to a credit reporting agency which could adversely impact your credit score and future borrowing ability.
10.1 You may close your Account at any time by:
a. repaying any outstanding loan amount; and
b. contacting us via the App or email to request the closure of your Account.
10.2 We will provide you with confirmation of your request to close your Account, as well as any additional actions that you may be required to take to finalise your Account closure.
10.3 We will not close your Account on your request where you have an outstanding loan amount.
10.4 We reserve the right to terminate your Account with 7 days’ notice where we deem this is reasonably necessary to protect our legitimate interests. This includes but is not limited to a situation where you have breached an obligation provided in the Terms and Conditions that we deem to be significant, such as defaulting on your loan amount or engaging in fraudulent or dishonest activity.
10.5 Where we have provided you with notice of the termination of your Account under clause 10.4, any outstanding loan amount you owe will become due and payable. You must repay any outstanding loan amount within 7 days of such notice.
10.6 Where we have terminated your Account, this may prevent you from accessing or using our App in the future.
Provide accurate and up-to-date information
11.1 You must provide us with accurate, current and complete statements, information and documents that we request in connection with your application for registration for an Account.
11.2 You must ensure that you maintain and promptly update any information you have provided in connection with your Account that is no longer accurate, current or complete.
11.3 You acknowledge that we have relied on the accuracy and currency of the information you have provided in approving your registration to become a Borrower and in our continued dealings with you.
Changes in your circumstances
11.4 You must inform us immediately of any changes in your personal or financial circumstances,including when:
a. any of the contact details you have provided in relation to your Account have changed, such as your name, address, phone number or email address;
b. you have been declared a bankrupt or commit an act of bankruptcy;
c. your nominated bank account has been closed; or
d. you no longer meet our eligibility criteria for an Account, or Borrower; or
e. you are not able to comply with any of your responsibilities in this clause 11 or any of your other obligations in the Terms and Conditions.
11.5 Where your financial circumstances have changed and you are a Borrower, you must not apply for a loan unless and until you have notified us of the change in your financial circumstances and we have assessed your credit worthiness.
Keeping your Account safe
11.6 You must ensure that your Account credentials remain confidential and secure, and take precautions as are necessary to ensure that another person is not able to access your Account.
11.7 You should ensure that you use a strong password that is difficult to guess and enable two-factor authentication to assist you in securing your Account.
11.8 You must change your password immediately if you know or suspect that:
a. another person knows your password;
b. there has been unauthorised access to your Account; or
c. your password has been involved in a data leak.
11.9 You should not share your password with anyone else or store it in your computer or mobile device.
11.10 You must notify us immediately if you become aware or suspect that your Account credentials have been compromised or there has been unauthorised access to your Account.
Liability for unauthorised transactions on your Account
11.11 You are liable to us for unauthorised transactions on your Account in circumstances where you have:
a. failed to advise us of any actual or suspected unauthorised access to, or use of, your Account;
b. failed to take precautions to safeguard your password and Account credentials;
c. knowingly or negligently provided your password to someone;
d. failed to change your password in circumstances where you know, or ought reasonably to know, that someone knows your password or it has been involved in a data leak;
e. committed fraud;
f. provided us with false information in relation to your identity; or
g. failed to securely connect your bank account to your Account.
Restrictions on use
11.12 Our App and Platform are not intended for distribution to, or use by, any person who:
a. is under the age of 18 years old, or not of legal competence or sound mind;
b. is not ordinarily resident in Australia;
c. is not an Australian citizen or permanent resident;
d. offers, or intends to offer, loans as a representative, employee, agent or contractor of a corporate entity, either directly or indirectly.
Proper use
11.13 You must only use our Platform,borrowing or lending services in accordance with the Terms and Conditions and for so long as we authorise you to do so.
11.14 You must not use our Platform,borrowing or lending services for any illegal or fraudulent purposes.
11.15 You must not take any actions which cause or may cause the provision of our App, Platform, borrowing or lending services to be compromised or interrupted. This includes by attempting to gain unauthorised access to or control of our App or Platform, or by uploading or emailing us any files that are corrupt or contain a virus.
11.16 You must promptly inform us if you breach the Terms and Conditions.
12.1 We may change the features of the Services or amend the Terms and Conditions at any time. Generally, we will do so when there is a change in our legal requirements, internal policy,or products or services.
12.2 We will provide you with notice of any changes at least seven days before such changes will take effect by:
a. a pop-up notification in our App;
b. emailing you a copy of the updated Terms and Conditions or information about how you can access them; or
c. posting the amended Terms and Conditions to our website.
12.3 You agree to be bound by the amended Terms and Conditions following such changes coming into effect.
12.4 If you do not consent to the changes to Terms and Conditions, you may request that we terminate your Account. Termination does not affect any obligations owed by you or any of your rights in respect of any outstanding Transaction.
13.1 Each time you engage in a Transaction, you agree and acknowledge that you meet and will continue to meet:
a. the eligibility criteria provided in clause 2.1 of the Terms and Conditions;
b. any additional eligibility criteria for a Borrower provided in clause 5;
c. all of your responsibilities as provided in clause 11 of the Terms and Conditions;and
d. all of your obligations provided in the Terms and Conditions.
13.2 You agree and acknowledge that any breach by you of any of these representations or warranties may cause us to terminate your Account or void any Transaction.
14.1 We do not warrant that:
a. the App or Platform will meet your requirements;
b. you will be able to connect your device to the App;
c. we will be able to match a Lender with a Borrower to facilitate you entering into a Transaction;
d. you will not experience any delays when using the Services;
e. your use of the App or Platform will always be uninterrupted, secure or error-free;
f. we will be able to detect and correct any or all errors or bugs in the App or Platform; or
g. we will prevent third party disruptions or security breaches of our App or Platform.
14.4 While we take all reasonable steps to meet our obligations under the Terms and Conditions, we are not responsible for delays, including payment processing delays or other delays caused by third parties or otherwise outside our control.
14.5 The Services are not intended to provide any financial product advice. Any financial product advice set out on our website or communicated through any of the Services is general in nature, and does not consider your individual situation, objectives or needs. You should seek advice on these and consider any relevant information memorandum before making a decision about any financial product.
15.1 These terms and conditions are governed by the laws of the State of New South Wales, Australia. You agree that the App, Platform and all Transactions carried out in respect of your Account will be governed by the law of the State of New South Wales, Australia,irrespective of your location.
15.2 You agree that the Courts of New South Wales, Australia will have non-exclusive jurisdiction. We reserve our right to commence proceedings in any Court of competent jurisdiction where reasonably necessary to protect our legitimate interests.
16.1 We are required to collect, hold, use and disclose your personal information for the purpose of providing you with our App and Platform.
16.2 We have obligations under the Privacy Act 1988 (Cth) in relation to protecting your personal information. To the extent applicable, we also comply with applicable privacy obligations in the European Union General Data Protection Regulation.
16.3 For more information about how we handle your personal information and meet our privacy obligations, please see our Privacy Policy.
17.1 We are required to comply with the AML/CTF Act and other laws in relation to the provision of our services. This includes verifying your identity before we provide you with your Account and to undertake ongoing monitoring and due diligence.
17.2 We will not be able to provide you with access to our App or Platform unless and until your personal identity is successfully verified. We reserve the right to refuse to provide you with an Account or to terminate your Account if we are not satisfied as to your personal identity or we are unable to meet our AML/CTF obligations or requirements of our internal policies.
17.3 You agree that we may use your personal information for the purpose of verifying your identity and undertaking ongoing due diligence as required by the AML/CTF Act or in accordance with our policies.
17.4 We may engage an external third party as our agent to undertake the verification of your personal identity or ongoing due diligence. You agree that we may provide your personal information to any third party we engage for this purpose.
17.5 We, or our agents acting on our behalf, may request a credit reporting agency to assist in the verification of your identity. You agree that we may disclose your personal information to a third parties, including (but are not limited to) credit reporting agency for this purpose.
17.6 If you provide us with any false or inaccurate information or we identity any fraudulent activity by you or in relation to your Account, we may:
a. report this to fraud prevention agencies or law enforcement or other regulatory bodies;
b. freeze or terminate your Account, or delay or block certain Transactions or the release of any monies on your instructions.
17.7 You agree to notify us of any changes to your personal or financial information by updating your profile via the App.
17.8 We will keep information about you and your Account for as long as necessary to meet our legal obligations and internal policy requirements.
18.1 We aim to provide you with high-quality service. However, if you would like to make a complaint about us or to us, you may contact us by
a. emailing us at hello@thebrolly.app – please use this email specially for lodging complaints so that we can ensure timely resolution; or
b. lodging a complaint via the chat box function or under the “Lodge Complaints” section on the App.
18.2 We will handle your complaint in accordance with our Complaints Policy and Procedure.
18.3 Where we are required to provide you with a final response to your complaint, we will do so no later than 30 calendar days. If we are unable to meet this time frame, we will notify you and provide you with the reasons for our delay as well as how you may escalate your complaint.
18.4 If you remain dissatisfied with our response to your complaint, you may refer your complaint to the Australian Financial Complaints Authority (AFCA), who provides a free and independent dispute resolution service for financial complaints. AFCA’s contact details are:
a. Phone: 1800 931 678 (free call within Australia)
b. Email: info@afca.org.au
c. Mail: GPO Box 3, Melbourne, VIC 3001
d. Website: www.afca.org.au
19.1 If any clause of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any jurisdiction, it shall be severed from these Terms and Conditions.
19.2 Any such severance does not affect the validity and enforceability of the remaining clauses in that jurisdiction or the validity and enforceability of the offending provision in any other jurisdiction.
20.1 You may not assign or transfer all or any part of your rights or obligations under these Terms and Conditions without our prior written consent.
20.2 You acknowledge and agree that we may assign our rights or obligations under these Terms and Conditions without your prior written consent. Such assignment will only take place where a reasonable person would not expect it to cause detriment to a typical Borrower. This will not affect any of your existing obligations arising from Transactions entered into under these Terms and Conditions.
20.3 You consent to us disclosing any information or documents relating to you that we deem necessary to assign our rights or obligations in the event that you forfeit a Loan Contract. You agree to execute any document reasonably required by us to effect such an assignment.
20.4 If you do not agree to us assigning our rights or obligations,you may close your Account.
21.1 The Terms and Conditions constitutes the whole of the agreement between Brolly and a Borrower. It supersedes and extinguishes any previous agreement or understanding about the subject matter of these Terms and Conditions and any representation or warranty previously given.
21.2 You acknowledge and agree that you have not relied on any statement, representation, assurance, or warranty made or given by any other party, other than as expressly set out in the Terms and Conditions.
22.1 Any failure to exercise, or delays in exercising, a right, power, or remedy provided by the Terms and conditions or at law or in equity does not waive that right, power, or remedy.
22.2 A single or partial exercise of a right, power, or remedy does not prevent another or further exercise of that or another right, power, or remedy.
22.3 A waiver of a breach of the Terms and Conditions will not constitute a waiver of any other breach and will not affect any of the other terms and conditions.
22.4 The rights and remedies provided by the Terms and Conditions are cumulative and are not exclusive of any other rights or remedies provided at law or in equity.
23.1 You can access and download a full, printable version of these Terms and Conditions from the App or through our website. This will enable you to review the Terms and Conditions at anytime, even without access to the internet.
24.1 You acknowledge that all content on our App or website, including texts, graphics, logos, and software,is owned by us or our licensors, and is protected by copyright and intellectual property laws.
24.2 You acknowledge that we have granted you a limited licence to access content on our App for your personal use. Any content generated by you using our App remains your property,but you grant us a non-exclusive licence to use your content within the App, and in limited circumstances, grant us a non-exclusive licence to use your content external to the App (with your consent and as separately agreed with you).
Account means the account set up in our App for a Borrower to enable them to use our Platform for the purpose of borrowing funds.
AML/CTF means anti-money laundering and counter-terrorism financing.
App means the Brolly App available on iOS or Android which is owned and operated by Brolly and provides Lenders and Borrowers with access to the Platform.
Borrower means a person who uses an Account to request loans.
Brolly means Stash Me Ltd (ABN 34 676 699 531).
Brolly Ranking means Brolly’s automated system that evaluates a Borrower’s credit ratings using machine learning and real-time financial data, which subsequently assigns a dynamic score for the Borrower to determine loan eligibility and terms and conditions for the Loan Contract, as well as rewarding the Borrower’s responsible repayment of loans with increased loan capacities.
Brolly Risk and Points Engine means refers to Brolly’s proprietary, automated decision-making system that assesses borrower risk profiles and assigns a dynamic score based on multiple data points. These data points include (but are not limited to) credit history, behavioural data, repayment trends, income verification, and platform engagement. This in turn determines borrower eligibility, pricing tiers, and progression towards Premium Brolly Borrower status.
Due Date means the date specified in your Loan Contract that you are required to repay your loan in full, which is 30-calendar days after you receive your initial loan amount.
Late Fee means the fee as set out in each loan agreement that is charged to you as a Borrower if you do not repay your loan in full by the Due Date.
Lender means a person who uses an Account to make funds available for lending.
Loan Contract means the agreement between a Lender and Borrower that specifies the details of a particular loan that you enter into as a Borrower, including the loan amount and Due Date. The Terms and Conditions also apply to your Loan Contract.
No Service Fee Period means the 30-day period where a Borrower has already paid a Service Fee in relation to a particular loan amount and is not required to pay an additional Service Fee on any Reborrowed Loan Amounts during the remainder of the period.
Platform means the technology platform operated by Brolly that facilitates a Borrower borrowing funds from a Lender and a Lender providing funds by way of a loan to a Borrower.
Premium Brolly Borrower means a Borrower who, consistently repays the relevant Loan Contract(s) on time and has achieved a high profile score via the Brolly Risk and Points Engine. This status may be assigned by Brolly (at its absolute discretion) and may unlock benefits including (but are not limited to) higher loan limits (i.e. up to $2,000), reduced service fees,or priority Loan Contract approvals, as determined by Brolly , with the aim of rewarding responsible financial behaviour.
Reborrowed Loan Amount means the loan amount that a Borrower may automatically reborrow within a 30-day period starting from the date those loan funds are originally provided, where the Borrower has repaid the relevantloan before the Due Date.
Service Fee means a one-off fee of 5% charged to a Borrowed based on their loan amount.
Terms and Conditions means this document which sets out the master terms and conditions that apply to the entirety of your relationship with Brolly including each individual Loan Contract that you enter into as a Borrower, and your use of your Account and our App, Platform and website.
Transaction means either a loan provided by a Lender to a Borrower or a loan received by a Borrower from a Lender, as the context requires.
We, us, our means Brolly.
You means the user of an Account or any other Services.
