1. Stash Me Pty Ltd (Stash) (ABN - 34676699531) operates a marketplace lending platform that is only accessible through its iOS and Android App (stashme.app). The Stash App matches lenders and borrowers for the purposes of Lenders advancing the Borrowers' small loans under $2000.
2. Stash also operates the website at the URL: https://stashme.app
3. By installing the Stash App, or by accessing, downloading, or submitting data through the Stash App or the Website, users agree to be bound by these terms and conditions.
4. Visitors to the App or Website, Lenders and Borrowers who do not agree with these terms must exit the Website and/or the Stash App immediately.
5. Loans that are provided from Lenders to Borrowers through the Stash App (Stash Loans) are not subject to interest. Rather, the Borrower pays the Lender an agreed fee for providing them a Stash Loan.
6. Borrowers agree to repay Stash Loans and associated Stash Loan Fees to Lenders.
7. To be eligible to be a Lender or Borrower you must: * be a natural person who is 18 years of age or older; * be an Australian permanent resident; * have a valid Australian bank account; * have a regular income; and * not offer loans on the Stash App as a representative, employee, agent, or contractor of a corporate entity, either directly or indirectly.
8. There are three (3) types of users that use the Stash App and the Website; Lenders, Borrowers (Users) and visitors. Visitors are users who visit the Website and/or install the Stash App but have not activated an account (Visitors).
9. Before using the Stash App to offer or accept Stash Loans, Visitors must first register for a User account (Stash Account) on the Stash App, then activate their Stash Account in the following five (5) steps:
10. Registration: To register for a Stash Account, Visitors must enter their email address and choose a password.
11. Verification: The Stash App will then send verification SMS and emails, which contain verification links that Users must click to verify their email address and phone numbers.
12. Identification: Once a user's phone and email addresses are verified, their ID must be uploaded to the Stash App for identity verification purposes.
13. Profile: Next, Users must enter their personal details followed by their bank account information that Users wish to use as either a Lender or a Borrower, as the case may be.
14. Status: The final step requires Users to choose whether they are applying to be a Lender or Borrower.
15. Once Users complete the Account Activation, Stash authorizes Users to use the Stash App pursuant to these terms and conditions.
1. Eligibility: Borrowers must be 18+, Australian residents, have an Australian bank account, and pass KYC/AML identity verification.
2. Loan Amounts and Terms: Borrow $100, $200, $400, $800 and $1,600 for a fixed 30-day term. Borrowers are limited to one active loan at a time. Premium Stash borrowers may access up to $2,000.
3. Fees and Repayment: Stash does not charge borrowers interest. Stash charges borrowers a service fee for accessing the platform.
a. Borrowers pay a 5% service fee and $2 transaction fee. Repay within the 30-day loan term. No fees for early repayment.
b. Borrowers are capped to a maximum of 12 loan contracts per year.
c. Borrowers may re-use the loan amount in their Stash Wallet during the term as many times as they require without any additional fees. A transaction fee may apply.
d. Engagement and good financial behavior may lead to increasing your rank and borrowing capacity.
4. Loan Approval and Disbursement: Loans are subject to approval and lender availability. Funds are disbursed to your Stash Wallet instantly.
5. Borrower Obligations: Provide accurate information, ensure funds for repayment, notify Stash of changes, and use loans responsibly.
6. Defaults and Collections: Missed repayments will result in a decrease in your Stash ranking. We recommend seeking an alternative payment plan option prior to defaulting.
a. Defaulted loans (after 90 days) are subject to debt recovery and may impact credit scores.
7. Stash Wallet and Security: Securely connect your bank account. Stash protects your information. Borrowers are responsible for keeping their login details confidential.
8. Termination and Account Closure: Close your account by repaying loans and deactivating your account. Stash may terminate accounts for breaches or fraud at its sole discretion.By participating as a Borrower, you agree to these Borrower Terms and Conditions and the general Stash App Terms and Conditions.
1. Eligibility
1.1. To become a Borrower on the Stash App, you must:
a. Be at least 18 years old
b. Be an Australian resident
c. Have a valid Australian bank account
d. Pass our KYC/AML identity verification process
1.2. Stash reserves the right to refuse or revoke Borrower status at its sole discretion.
2. Loan Amounts and Terms
2.1. Borrowers can request loans of $100, $200, or $400 through the Stash App. Premium borrowers may be selected to access up to $2,000 max.
2.2. Loan terms are fixed at 30 days.
2.3. Borrowers can have only one active loan at a time.
2.4. Stash does not guarantee loan approval, as it depends on lender availability, Stash ranking, and the borrower's creditworthiness.
3. Fees and Repayment
3.1. Borrowers pay a one-time service fee of 5% of the loan amount, plus a $2 transaction fee.
3.2. Loans are repaid within the 30-day loan term contract, automatically debited from the borrower's connected bank account.
3.3. There are no additional fees for early repayment. A borrower may re-use that amount in their Stash Wallet as many times as they prefer during that 30-day no fee period, and no additional service fees will apply.
3.4. Borrowers are limited to a maximum of 12 times 30-day loan term contracts per year. Borrowers are encouraged to use Stash when they need it and put back funds when not in use for other community members.
3.5. If a borrower is unable to make a repayment, they must contact Stash immediately by selecting one of our alternative payment plan options.
4. Loan Approval and Disbursement
4.1. Loan requests are subject to approval by Stash's proprietary credit assessment algorithm.
4.2. Approved loans are funded by matched lenders and disbursed to the borrower's account.
4.3. Borrowers can withdraw funds from their Stash Wallet to their connected bank account.
4.4. Stash aims to process loan requests and disbursements instantly, subject to lender availability and bank transfer times.
5. Borrower Obligations
5.1. Borrowers must provide accurate and up-to-date information when applying for a loan and throughout the loan term.
5.2. Borrowers must ensure sufficient funds are available in their connected bank account for scheduled repayments.
5.3. Borrowers must notify Stash of any changes to their financial circumstances that may affect their ability to repay the loan.
5.4. Borrowers must not use Stash loans for any illegal or fraudulent purposes.
6. Defaults and Collections
6.1. If a borrower misses a repayment, Stash will attempt to debit the borrower's nominated account or the borrower may select an alternative payment plan option.
6.2. If a borrower fails to repay their loan or fees by the end of the 90 days, the loan will be considered in default.
6.3. In the event of default, Stash will take over the loan contract and attempt to recover the outstanding amount through an automated debt recovery process.
6.4. Borrowers are liable for any fees or costs incurred by Stash in recovering defaulted loans.
6.5. Defaulted loans may be reported to credit reporting agencies, which could impact the borrower's credit score and future borrowing ability.
7. Stash Wallet and Security
7.1. Borrowers must securely connect their Australian bank account to their Stash Wallet to receive loan disbursements and make repayments.
7.2. Stash uses industry-standard encryption and security measures to protect borrowers' personal and financial information.
7.3. Borrowers are responsible for maintaining the confidentiality of their Stash account login details and notifying Stash immediately of any unauthorized access.
8. Termination and Account Closure
8.1. Borrowers may close their Stash account at any time by repaying any outstanding loan and deactivating their Stash account.
8.2. Stash may terminate a borrower's account at its discretion, including for breach of these terms and conditions or suspected fraudulent activity.
8.3. Upon termination, any outstanding loan amounts will become immediately due and payable.By participating as a Borrower on the Stash App, you acknowledge that you have read, understood, and agree to be bound by these Borrower Terms and Conditions, as well as the general Stash App Terms and Conditions.
1. Eligibility:
Lenders must be 18+, Australian residents, have an Australian bank account, and pass KYC/AML identity verification.
2. Investing: Invest up to $2,000 in your Stash Wallet. Funds will be allocated to approved Borrowers. Minimum balance of $100 required. Sophisticated or wholesale investors can invest more by contacting Stash directly.
3. Returns: Earn a fixed 15-20% annual return, paid as fees in 30-day cycles. An annual period is 12 times 30-day cycles. Fees are credited to your Stash Wallet.
4. Automatic Reinvestment: If funds are not withdrawn at the end of a cycle and remain deployed in loans, they are automatically reinvested into new loans for another cycle.
5. Withdrawals: Withdraw funds anytime. A $2.00 transaction fee may apply for continuous withdrawals within a 30-day cycle. Withdrawing during an active cycle forfeits that cycle's fees. Consider your funds' availability before investing.
6. Loan Allocation and Security: - Our algorithm matches your funds with eligible Borrowers. Funds are diversified across multiple Borrowers. - If a Borrower fails to repay, Stash will pay you from the Stash Assurance account. - All Lenders are underwritten by the Stash Assurance account to cover defaults and ensure expected returns.
7. Stash Wallet: Connect your bank account to invest. Funds are held in trust by Monoova for your benefit. Stash pays fees to lenders.
8. Fees: Lenders earn fees proportional to their invested amount and the duration of the investment, subject to the monthly rate.
9. Modifications to Terms and Conditions: Stash may modify these terms, with changes effective immediately upon posting. Continued use constitutes acceptance of new terms.
10. Governing Law: These terms are governed by Australian law, and disputes are subject to Australian courts' jurisdiction.
11. Termination: Close your account by terminating active contracts, withdrawing funds, and deleting your account. Breaking contracts or deleting accounts will place you at the end of the lender queue.By participating as a Lender, you agree to these Lender Terms and Conditions and the general Stash App Terms and Conditions.
1. Eligibility
1.1. To become a Lender on the Stash App, you must:
a. Be at least 18 years old
b. Be an Australian resident
c. Have a valid Australian bank account
d. Pass our KYC/AML identity verification process
1.2. Stash reserves the right to refuse or revoke Lender status at its sole discretion.
2. Investing
2.1. Lenders can put up to the capped amount of $2,000 in their Stash Wallet.
2.2. Funds put in the Stash Wallet will be allocated to approved Borrowers.
2.3. Lenders must maintain a minimum balance of $100 in their Stash Wallet to participate in lending activities.
2.4. Stash does not guarantee that all funds in a Lender's Wallet will be continuously lent out.
2.5. Any lenders wishing to invest more than $2,000 must be a sophisticated or wholesale investor and contact us directly by clicking the following link.
3. Returns
3.1. Lenders will earn a fixed annual return of between 15 or 20% on their invested capital, paid as monthly fees. An annual period is considered as 12 times 30-day cycles.
3.2. Fees will be paid in 30-day cycles, based on the amount of capital successfully lent out during each cycle.
3.3. Fees will be credited to the Lender's Stash Wallet at the end of each 30-day cycle.
3.4. Stash reserves the right to adjust the rate of return at any time before the end of a 30-day cycle. Notice will typically go out to Lenders 2 days prior if there will be an adjustment up or down for the next month's cycle.
4. Automatic Reinvestment
4.1. If funds are not withdrawn at the end of a cycle and remain in your Stash Wallet will be automatically deployed into new loans for another cycle with new borrowers.
5. Withdrawals
5.1. Lenders can request to withdraw funds from their Stash Wallet at any time.
5.2. Withdrawal requests will be processed instantly, subject to the availability of funds.
5.3. A transaction fee of $2.00 per transaction may be deducted from the withdrawn amount if continuous withdrawals from the account occur within a 30-day cycle.
5.4. Lenders who withdraw funds during an active 30-day contract cycle will forfeit the fees earned during that cycle. Lenders are not paid a daily rate for time invested if they break a contract.
5.5. We recommend lenders carefully consider whether they will need their funds during a 30-day period before putting them on the platform for borrowers.
5.6. If a lender breaks an active contract, Stash will replace the lender and absorb the contract until the end of that contract period.
6. Loan Allocation and Security
6.1. Stash uses a proprietary algorithm to efficiently match Lenders' funds with eligible Borrowers.
6.2. Lenders cannot select specific Borrowers to fund. A lender can only decide to participate with an approved borrower by participating on the platform.
6.3. Stash will automatically diversify each Lender's invested funds across multiple Borrowers to minimize risk.
6.4. If a Borrower fails to repay their loan by the end of the agreed loan term, Stash will take over the contract and pay the Lender their principal and fees from the Stash Assurance account.
6.5. All Lenders on the Stash platform are underwritten by the Stash Assurance account, which is maintained to cover potential Borrower defaults, lender withdrawals, and ensure Lenders receive their expected returns.
6.6. The Stash Assurance account is a continuously accumulating pool of funds derived from service fees.
6.7. In the event of Borrower default, this is Stash's liability. We will use our best efforts to recover the outstanding principal and fees through a debt recovery process.
7. Stash Wallet
7.1. Lenders must send funds from an Australian bank account to their Stash Wallet to invest funds.
7.2. Funds in the Stash Wallet are held in trust by our trusted payments service provider Monoova for the benefit of the Lender.
7.3. Stash does not hold lenders' capital and does not use Lenders' funds for any purpose other than facilitating loans to Borrowers on the platform. All capital is held by our payments service provider Monoova.
7.4. Stash is not a finance company and does not charge borrower's interest. Stash charges borrowers a service fee for accessing the platform.
8. Fees
8.1. Stash pays fees to lenders for assisting borrowers. For example, if $1,000 is utilized by borrowers on the platform consecutively for 12 times 30-day cycles, the lender will receive $200 over that period, with fees paid out monthly. This is proportionally the same if the lender has $100 or $2,000 on the platform, subject to the monthly rate.
9. Modifications to Terms and Conditions
9.1. Stash may modify these terms and conditions. Changes will be communicated through the platform and become effective immediately upon posting.
9.2. Continued use of the platform after such changes constitutes acceptance of the new terms.
10. Governing Law
10.1. These terms are governed by the laws of Australia, and any disputes will be subject to the jurisdiction of Australian courts.
11. Termination
11.1. Lenders may close their Stash account at any time by terminating all active contracts, withdrawing all funds from their virtual wallet to their bank account, and deleting their account with Stash.
11.2. Stash operates a queuing system for lenders. Lenders who break contracts or delete their accounts will be placed at the end of the lender queue.
11.3. Upon termination, any uninvested funds in the Lender's Stash Wallet will be returned to their nominated bank account.
11.4. Invested funds will be returned to the Lender as they are repaid by Borrowers, in accordance with the applicable loan terms, unless terminated by the lender.By participating as a Lender on the Stash App, you acknowledge that you have read, understood, and agree to be bound by these Lender Terms and Conditions, as well as the general Stash App Terms and Conditions.
At Stash, we are committed to ensuring that our platform complies with all relevant local financial regulations, data protection laws, and consumer protection laws to provide a secure and reliable service for both lenders and borrowers.
- Financial Services Regulations: We operate under the guidelines of the Australian Securities and Investments Commission (ASIC) and comply with all applicable regulations for marketplace lending.
- Data Protection Laws: We adhere to the Australian Privacy Principles (APPs) as outlined in the Privacy Act 1988 (Cth) and the General Data Protection Regulation (GDPR) where applicable. Our Privacy Policy details how we handle personal information, ensuring data is collected, stored, and shared securely and responsibly.
- Consumer Protection Laws: We comply with the Australian Consumer Law (ACL) to ensure transparent, fair, and responsible lending practices. Our fees, terms, and conditions are clearly outlined to avoid any misleading or deceptive conduct.
- Membership in AFCA: Stash is a member of the Australian Financial Complaints Authority (AFCA). This membership allows consumers to access an independent and fair external dispute resolution service in case of unresolved complaints.
We aim to provide high-quality service, but if a dispute arises, we have a clear and comprehensive process to resolve issues fairly and efficiently.
1. Initial Resolution:
- Contact Support: If you have a complaint, first reach out to our support team via the contact details provided on our website or within the Stash App. We will acknowledge your complaint within 2 business days.
- Investigation: Our team will investigate the issue and aim to provide a resolution within 5 business days. More complex issues may require up to 21 days, and we will keep you informed throughout the process.
2. Escalation to Management:
- If you are not satisfied with the initial response, you can request that your complaint be escalated to a manager. We will conduct a secondary review and provide a resolution within 10 business days.
3. External Dispute Resolution through AFCA:
- If you remain dissatisfied after our internal review, you can refer your complaint to the Australian Financial Complaints Authority (AFCA). - AFCA Contact Details:
- Phone: 1800 931 678 (free call within Australia)
- Email: info@afca.org.au
- Mail: GPO Box 3, Melbourne, VIC 3001
- Website: www.afca.org.auArbitration and Jurisdiction:
- If a dispute remains unresolved through the internal or external dispute resolution process, it may be referred to arbitration. Any such arbitration will be governed by the laws of Australia, and the jurisdiction will be the courts of New South Wales, Australia.Summary of Rights and Responsibilities
- Both borrowers and lenders have a responsibility to provide accurate information and to follow the platform's terms and conditions.
- Stash will handle disputes promptly and in good faith, aiming to reach a fair resolution for all parties.By adhering to these standards, Stash ensures a secure, compliant, and consumer-friendly lending platform.
To ensure that our users fully understand how their personal and financial information is handled, we provide a direct link to our Privacy Policy within these Terms. Please review our Privacy Policy at https://stashme.app/privacy to understand how we collect, use, and protect your data.
Transparency in our fee structure is crucial.
Stash charges the following fees:
- Service Fee: A fixed percentage fee of 5% of the loan amount.
- Transaction Fee: A flat fee of $2 per loan disbursement.
- Early Repayment Fee: There are no fees for early repayment.
- Late Payment Fee: Specific details regarding late payment fees, if applicable, are outlined in the loan agreement.
We commit to disclosing any potential or hidden fees in the loan agreement before you enter into a transaction.
To terminate your Stash account:
1. Ensure all loans are repaid: Your account must be in good standing with no outstanding balances.
2. Request account closure: Contact us via the app or email to request account deactivation.
3. Confirmation: We will confirm the closure and any final steps required to secure your information.
Termination may prevent future access to Stash and any data associated with your account.
All content on Stash, including texts, graphics, logos, and software, is owned by Stash or its licensors and is protected by copyright and intellectual property laws. Users are granted a limited license to access content on the platform for their personal use. User-generated content remains the property of the respective user, but by posting content on Stash Me, you grant us a non-exclusive license to use it within the platform.
Investing in loans on Stash involves risks including the possibility of losing the principal invested due to borrower defaults.
Typical scenarios include:
- Economic downturns affecting borrower repayability.
- Unexpected changes in market conditions influencing borrower stability.
We strive to minimize these risks through stringent credit assessments and diversified lending options.
We employ robust security measures to protect your data, including encryption, secure server configuration, and regular security audits. Users are advised to maintain strong passwords, enable two-factor authentication, and regularly update their personal information to safeguard their account integrity.
Users can access and download a full, printable version of these Terms from within the Stash App or through our website. This ensures that you can review the terms at any time, even offline.
Stash reserves the right to amend these Terms at any time. All changes will take effect immediately upon posting on our website and app. We will notify you via email or in-app notification at least 7 days before these changes take effect. Continued use of the platform after any such changes shall constitute your consent to the updated Terms. Regular review of the Terms is recommended to stay informed of any changes.