GoEscrow

1.    Introduction

This is our PayTo Service Agreement for Australia.  It details our terms and conditions of use for PayTo transaction funding.

1.1    Distribution

This document is for public release via web site.

1.2    Document Owner and Contact Details

Please use the following for all communications regarding this document:

 

www: https://goescrow.com.au/paytosa/
Email [email protected]
Title: Compliance Manager
Address: P.O. Box 141,
Kenmore.  QLD.
Australia.    4069

1.3    Document Change Log

Document versions:

Version Date Change Description
1.0 1st April 2025 Initial Release
     

 

1.4    Related documents

This Service Agreement is for use of the PayTo transaction funding service.  For the terms and conditions of the GoEscrow Payment Protection Platform we publish our Terms Of Use which you may read here:  https://goescrow.com.au/tsandcs

In addition to this Service Agreement we publish our Financial Services Guide which you may read here: https://goescrow.com.au/fsg/ and our Product Disclosure Statement which you may read here: https://goescrow.com.au/pds/.

2.    Definitions

account means the account held at your financial institution from which we are authorised to arrange for payments to be made into your Escrow Bank Account.

account number means the BSB and account number for the account.

authorisation means your authorisation of the payment arrangement or amendment of the payment arrangement with your financial institution.

banking day means a day other than a Saturday or a Sunday or a public holiday listed throughout Australia.

Escrow and Escrow Service – Escrow is a financial arrangement where a third party (The Company) temporarily holds and manages funds on behalf of two transacting parties until predefined conditions of an agreement are met.  The Escrow Service ensures security for both parties by safeguarding the funds until The Payer authorises settlement to The Payee or a dispute resolution process determines the appropriate action.  The Company acts as a neutral intermediary, mitigating risks associated with payment defaults, fraud, or non-fulfillment of agreements.

Escrow Bank Account is the AUD$ bank account operated by GoEscrow’s banking partners, in your name, that receives and holds deposits for a transaction with a payee

PayTo Agreement means the secure database managed by NPP Australia Limited on behalf of our financial institution and if it supports PayTo services, your financial institution.

NPP Addressing Service means the database of account proxy identifiers maintained by NPP Australia Limited.

PayID means the identifier which you have registered in the NPP Addressing Service and which you provide to us as the identifier for your account.

our financial institution means the institution which processes payments under the payment agreement for us.

payment agreement means the payment agreement between you and us which authorises us to arrange for payments to be made from your account.

payment day means the day that payment by you to us is due.

payment means a particular transaction where a payment is made from the account.

payment agreement creation request means your request to us to create the payment agreement on your behalf.

payment terms mean the value, cap and/or frequency of payments that you authorise us to arrange to be made under the payment agreement.

Service Agreement means the terms of this document.

The Company is GoEscrow Pty Ltd ACN 650 709 354 who are Australian Financial Services Representative No. 001312536 of Airpay Financial Technologies Pty Ltd who hold Australian Financial Services Licence (AFSL No. 526194).  They can be contacted at [email protected].  The Company offers general financial advice and can assist in obtaining non-cash payment products, including deposit and payment solutions

The Payment Protection Platform and The Platform are The Company’s digital escrow, cashless payment software and technologies used to manage payments between The Users where payment is held in escrow pending settlement.  The User interacts with The Platform via The Site.

The Site is The Company’s website, mobile and web applications, and other digital platforms used for transactions with The Payment Protection Platform and public communications.

us or we means The Company.

you means the person or entity who is authorised to operate the account.

your financial institution means the financial institution at which the account is held.

3.    General

GoEscrow Pty Ltd (ACN 650 709 354) (GoEscrow) operates an escrow payment protection platform in Australia.

GoEscrow is authorised by the Australian Securities and Investments Commission as Australian Financial Services Representative No. 001312536 of authorising licensee Airpay Financial Technologies Pty Ltd of Australian Financial Services Licence (AFSL) No. 526194 who are contactable by [email protected] to provide the following financial services (Services) to retail and wholesale clients:

  1. provide general financial product advice for the following classes of financial products:
    1. deposit and payment products limited to non-cash payment products;
  2. deal in a financial product by:
    1. issuing, applying for, acquiring, varying or disposing of deposit and payment products limited to non-cash payment products; and
    2. applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:
      1. deposit and payment products limited to non-cash payment products;

We act on our own behalf when we provide financial services to you.

4.    Establishing a payment agreement

By requesting us to establish a payment agreement, you have consented to us to using, disclosing and recording your details, including the account or PayID details you have provided to us, and the details of the payment agreement in the Mandate Management Service operated by NPP Australia Limited as a payment agreement creation request.

Not all financial institutions offer PayTo services. If your financial institution does not offer PayTo services, we will let you know and offer you an alternative payment option.

If your financial institution supports PayTo, your financial institution will retrieve the payment agreement creation request and deliver it to you, for you to view and to authorise at your discretion.

Your authorisation of the payment agreement creation request is required to be given to your financial institution in order for the payment agreement to be established. If your account is a joint account, your financial institution may need all joint account holders to authorise the payment agreement.

The method by which your financial institution communicates and delivers the payment agreement creation request to you is up to your financial institution but is typically via their mobile app or web portals.

5.    Viewing the Payment Agreement

Your financial institution will provide you with a facility to view the payment agreements you have authorised.

You may also contact us to confirm details of your payment agreement with us via the GoEscrow Payment Protection Platform site inside the escrow transaction.

5.1    Payments under the Payment Agreement

As soon as a payment agreement is established, we may arrange for payment to be made from your account.

We will only arrange for payments to be made from your account in accordance with the payment agreement.

Before we arrange for any payment to be made, we or our financial institution will check the payment agreement in the Mandate Management Service to ensure it remains valid and active (that is, that it has not been suspended or cancelled, or otherwise amended, by you).

The PayTo service is a 24/7 service, which means the payment day may fall on a day which is not a banking day. If that is the case, we may arrange for payment to be made on that day. However, we may also choose to direct your financial institution to make the payment from your account on the first banking day after the payment day. If you are unsure about which day payments under the payment agreement will be made from your account, you should check with your financial institution.

6.    Amendments by us

We may vary any details of this Service Agreement and any of our details included in the payment agreement at any time.  Changes will be communicated via The Site, and continued use of the Escrow Service constitutes acceptance of the revised terms

If we wish to vary any payment terms of the payment agreement, where required we will submit these as requested amendments to the payment agreement in the Mandate Management Service. Your financial institution will notify you of the amendment and seek your authorisation (where required). This will be recorded in the Mandate Management Service for the amendment to take effect.

We may suspend or cancel the payment agreement at any time. If we do so, we will not be able to arrange for payments to be made from your account.

The status of our payment agreement with you will be as represented by the record of the payment agreement in the Mandate Management Service.

7.    Amendments by you

You may change your account number or PayID in our payment agreement or suspend or cancel our payment agreement via your financial institution, which is required to act promptly on your instructions by modifying the record of the payment agreement in the Mandate Management Service.

8.    Your Obligations

It is your responsibility to ensure that there are sufficient clear funds available in your account to allow a payment to be made in accordance with the payment agreement.

If there are insufficient clear funds in your account to meet a payment:

  1. we may re-try up to three times on the payment day to have the payment made, and on each successive day until the payment is made;
  2. you may be charged a fee and/or interest by your financial institution;
  3. you may also incur fees or charges imposed or incurred by us; and
  4. failing payment under a re-try being successful, you must arrange for the payment to be made by another method or arrange for sufficient clear funds to be in your account by an agreed time so that we can process the payment.

You should check your account statement to verify that the amounts debited from your account are correct.

9.    Dispute

The record of the payment agreement in the Mandate Management Service is evidence of the value and frequency of payments that you have authorised us to have made from your account. If you believe that there has been an error relating to payments from your account, you may notify us directly by email via [email protected] so that we can resolve your claim quickly.

If we conclude as a result of our investigations that a payment has been made incorrectly from your account, we will respond to your query by arranging for your financial institution to adjust your account (including interest and charges) accordingly. We will also notify you by email of the amount by which your account has been adjusted.

If we conclude as a result of our investigations that a payment has not been made incorrectly from your account, we will respond to your query by providing you with reasons and any evidence for this finding by email.

10.    Accounts

You should check:

  1. with your financial institution whether PayTo is available from your account;
  2. that your account details are in the correct format or the PayID which you have provided to us are correct; and with your financial institution if you have any queries about PayTo service.

11.    Privacy & Compliance

The Company follows the Privacy Act 1988 (Cth) and adheres to the Australian Privacy Principles (APPs).  The full policy is available here: https://goescrow.com.au/privacy-policy/

The Company is committed to effective and efficient customer complaints management and strives to manage customer complaints in an accountable, transparent, timely and fair manner that is compatible with all customer rights, reasonable customer expectations, our Terms Of Use, Privacy Policy, AML-CTF Program and other legal and regulatory responsibilities.  The Company complaint handling policy is available here:  https://goescrow.com.au/complainthandling/

12.    Governing Law

This agreement is governed by the laws of New South Wales, Australia.  Any disputes must be resolved in NSW courts.