Terms and Conditions

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Last Updated: 11/05/2022

These Terms are our agreement with you about the use of your Cashwo Account and Digital Wallet. Please also carefully read the Product Disclosure Statement (PDS) you were provided with when you applied for your Cashwo Account. These Terms form part of the PDS and together form our agreement with you for use of the Cashwo Digital Wallet. You can also find the PDS here on our website www.cashwo.com.au.

You agree to these Terms when you apply for your Cashwo Account. It is really important that you understand these Terms because they set out our agreement on what will happen with things like responsibility for Unauthorized Transactions, how we use your information, security, fees and charges and limits.

So please contact the Cashwo team to ask us questions if you don’t understand anything in this document and we can explain things further for you.

We have subscribed to the e-Payments Code and will comply with the requirements of this Code.

1. Meaning of words
  • ADI means Authorized deposit-taking institution.
  • BPAY means BPAY Pty Ltd ABN 69 079 137 518.
  • BPAY Scheme means the electronic payments scheme through which you may ask us to make payments (BPAY payments) on your behalf to organizations (BPAY Billers) who tell you that you can make payments to them through the BPAY Scheme.
  • Cashwo means PayAny1 Pty Ltd ( ABN 51 630 466 303 AFSL No. 518 990) trading as Cashwo.
  • Cashwo Account means the account you have opened in order to access the Cashwo Digital Wallet.
  • Cashwo Digital Wallet user means any user (either an individual user or a merchant) who has registered with Cashwo and has a Cashwo Digital Wallet;
  • Cashwo Digital Wallet Pay ID means the unique Pay ID code which is allocated to each Cashwo Digital Wallet user and located in the Account Profile section of the Cashwo App.
  • Cashwo Passcode means the code used to unlock your Cashwo Digital Wallet within the Cashwo App.
  • Digital Wallet means the Digital Wallet service which we issue to you after you have created a Cashwo Account and verified your identification. The Digital Wallet represents your Wallet Balance but is not a deposit account.
  • Formal merchants means businesses who have registered with Cashwo as a ‘Formal Merchant’ and have a unique QR code which Cashwo users can scan in order to make payments for goods and services.
  • Informal merchants means sole traders or small merchants who have registered with Cashwo as an ‘informal merchant’ via their ABN or company information and who can receive payments from other Cashwo Digital Wallet users.
  • Mobile device passcode means anything required to unlock a mobile device, including a password, passcode, pattern or biometric identifier (where applicable).
  • Merchants means both formal and informal merchants registered with Cashwo.
  • Payany1 means PayAny1 Pty Ltd ABN 51 630 466 303 AFSL No. 518 990 trading as Cashwo.
  • Reward Wallet means the secondary wallet located within the Digital Wallet which is funded exclusively by merchants providing promotional or reward value to you.
  • Unauthorized Transactions means a transaction which you haven’t authorized and without your knowledge and consent. Unauthorized BPAY payments are specifically dealt with in clause 7.
  • Wallet Balance means the value stored in your Digital Wallet at a particular point in time (in AUD) which you can see in the Cashwo App;
  • You meaning, the Cashwo Account Holder who has been added to the Cashwo App. ‘Your’ has correspondent meaning.
2. The Cashwo Account and Digital Wallet

When you have created a Cashwo Account and verified your identity via the Cashwo App you will receive access to your Digital Wallet. Your Digital Wallet is linked to your Cashwo Account and can used to make and receive transfers, make payments to merchants and pay bills.

If you create a Cashwo Account and do not verify your identity you can browse the Digital Wallet via the Cashwo App but cannot access any of the Digital Wallet services until you have verified your identity.

Once you have loaded value to your Digital Wallet you can use this to make payments to merchants for goods and services, pay bills or to transfer funds to other Cashwo Digital Wallet users.

You can make also make BPAY transactions from your Digital Wallet via the Cashwo App.You only access the value you have loaded or received into your Digital Wallet.

3. Eligibility

To register for a Cashwo Account and Digital Wallet you must be either:

  • an Australian citizen resident in Australia;
  • a foreign citizen with a valid Australian visa, resident in Australia; and
  • and at least 18 years old.

An Australian residential address is required to register an account with Cashwo.

In order to facilitate identity checks and verification required for you to open a Cashwo account you must be physically located in Australia in order to register a Cashwo account.

Once you have verified your identity and have a valid Cashwo Account and Digital Wallet you can use the Cashwo products and services outside of Australia.

4. Anti-Money Laundering and Counter-Terrorist Financing

As part of the application process we will require evidence of who you are and where you live. As part of our legal obligations, we need to check the information you provide against records maintained by credit reporting and fraud prevention agencies/organizations. However, we don’t perform a credit check on you and the searches we perform are only for verifying your identity.

You must let us know as soon as possible when any of your details change.

We may need to block, delay, freeze or refuse transactions where we reasonably consider that a transaction is fraudulent or in breach of anti-money laundering laws. We are not responsible for any loss that arises where this occurs. Where we can, we will let you know why we have stopped the transaction. However, in some cases our legal obligations will stop us from being able to tell you.

5. Activating your Cashwo Account and accessing your Digital wallet

Once you have verified your identity and provided the information we require under the Anti-Money Laundering and Counter Terrorism legislation we can activate your Digital Wallet and you can use this to make and receive transfers and make payments or pay bills.

You are required to create a passcode for your Cashwo Digital Wallet and can change this passcode via the ‘Change Passcode’ icon in the Cashwo App.

6. Using your Digital Wallet. Loading value and transactions using your Digital Wallet

You can load value to your Digital Wallet by:

  • transfer from an account held with another ADI (using your Cashwo Digital Wallet Pay ID).
  • transfer from another Cashwo Digital Wallet Account;

You can find information about how you can transfer value to your Digital Wallet in the FAQ section of the Cashwo App. We may also add new ways to get money into your Digital Wallet in future so check the Cashwo App for this information. Payments to your Digital Wallet will be credited to your Wallet Balance when they have cleared.

Once the value is showing in your Wallet Balance, you can use it to:

  • Transfer funds to other Cashwo Digital Wallet users;
  • Make payments to merchants via a QR Code;
  • Transfer payments to Cashwo registered merchants via the Digital Wallet;
  • Make Bill payments and other payments for goods and services using BPAY.

There are default limits that apply to the Digital Wallet for:

  • Maximum value you can store in your Digital Wallet at any one time ($10000)
  • maximum top up per day ($2000);
  • transaction limit for any one transaction
    • For transfers from one Digital Wallet to another Digital Wallet a limit of $2,000 per day and $10,000 per month;
    • For transfers from Digital Wallet to Bank account ($500 per day and maximum of $10,000 per month).
    • For payments from the Digital Wallet to merchants a limit of $1,000 per day and $10,000 per month.

At any time we can adjust the limits to protect your interests or ours.

You can find the actual limits that apply to your Digital Wallet within the Cashwo App. You can also see how much of your limit remains available within the Cashwo App.

We will let you know via the Cashwo App if your limits are adjusted. Please check the Limits section in the Cashwo App so you know what limits apply to your use of the Digital Wallet.

Transfer of funds

You can use your Digital Wallet to transfer funds to any other Cashwo Digital Wallet user via the ‘Send Money’ icon in the Cashwo App.

You cannot use the Digital Wallet to transfer funds to someone who is not a Cashwo Digital Wallet user. To transfer funds outside of the Digital Wallet eco-system you must first transfer the funds out of the Cashwo Digital Wallet and into your nominated bank account.

Withdrawal of funds

You can only withdraw funds from your own Digital Wallet into your nominated bank account. You can only have one nominated bank account per Cashwo Account. You cannot withdraw funds into another bank account.

Making payments

You can make BPAY payments from your Digital Wallet using the ‘BPAY’ icon in the Cashwo App. See clause 7 for BPAY payments.

You can pay bills, via BPAY, from your Digital Wallet using the ‘Pay Bill’ icon in the Cashwo App.

You can pay merchants who have a unique QR Code, via the ‘Pay’ icon (details TBC) and scanning the unique QR code;

You can pay merchants, who are registered Cashwo Digital Wallet Users, via the ‘Send Money icon’ in the Cashwo App.

It is really important to enter the correct BSB and account information when authorizing internet payments from your Digital Wallet. Where you enter the wrong information:

  • funds may be credited to the account of an unintended recipient if the BSB number and/or identifier do not belong to the person you name as the recipient; and
  • it may not be possible to recover funds from an unintended recipient.
Processing of transfers and transactions

We will deduct the amount of any transaction you make using your Digital Wallet from your Wallet Balance. You can’t stop or change a payment on a transaction after it has been completed. For mistaken or disputed payments please refer down to clause 10.

We do not allow negative balances.

Sometimes a transaction cannot be processed due to reasons outside of our control, like where there are network issues which may affect the relevant payment terminal. We are not responsible where a transaction authorization is declined for any reason.

Restrictions on use

You can’t use your Cashwo Digital Wallet for any illegal purposes including purchasing anything that is illegal under Australian law. You can’t sell or give your Digital Wallet to anyone else; it is only for your personal use. You can only have one Digital Wallet at a time.


We are a member of the BPAY Scheme confirm and will let you know if at any time we cease to be a member of the BPAY Scheme.

BPAY transactions

The Cashwo Digital Wallet also enables users to make payments via BPAY.

You can use BPAY to pay invoices bearing the BPAY logo from your Digital Wallet by entering the BPAY Biller’s code number, your customer reference number and the amount to be paid from your Digital Wallet.

We can suspend your right to make BPAY payments where:

  • you are not complying with your obligations to us under these Term; or
  • you or someone on your behalf is suspected of engaging in fraudulent conduct.

Delays can occur in processing a BPAY payment where it is not processed on a business day or another financial institution does not comply with its obligations.

If we find out that your payment cannot be processed by a BPAY Biller, we will let you know via the Cashwo App and credit your Wallet Balance with the amount of the BPAY payment.

We cannot stop or reverse a BPAY payment once we have submitted your BPAY payment to BPAY. BPAY payments are irrevocable except where a BPAY payment is a mistaken payment, unauthorized payment or a fraudulent payment (see below).

No refunds will be provided through the BPAY Scheme where you have a dispute with the BPAY Biller about any goods or services you may have agreed to obtain from the BPAY Biller. Any dispute must be resolved with the BPAY Biller.

You should notify us immediately if you think you have made a mistake when instructing us to make a BPAY payment (except when you make an underpayment in which case you can make another BPAY payment for the difference). Please keep a record of the BPAY receipt number generated for your BPAY payment. We will attempt to make sure that your BPAY payments are processed promptly by participants in the BPAY Scheme.

BPAY mistaken payments, unauthorized transactions and fraud

You must let us know immediately via the Cashwo App if:

  • you become aware of any delays or mistakes in processing your BPAY payments;
  • you did not authorize a BPAY payment that has been made from your Digital Wallet; or
  • you think that you have been fraudulently induced to make a BPAY payment.

We will attempt to resolve issues with BPAY payments. However, to the maximum extent permitted by law, we will not be responsible for any loss you suffer as a result of using the BPAY Scheme, other than where caused by our fraud, negligence or willful misconduct or in relation to any breach of a condition or warranty implied by law in contracts for the supply of goods and services and which may not be excluded, restricted or modified.

Mistaken BPAY payments

If a BPAY payment is made to a person or for an amount which is not in accordance with your payment instructions, and your Digital Wallet was debited for the amount of that payment, we will credit that amount to your Wallet Balance.

However, if you were responsible for a mistake that resulted in that payment and we cannot recover the amount of that payment from the person who received it within 20 business days of us attempting to do so, you must pay us that amount (and we can debit it from your Digital Wallet).

If you authorize a BPAY payment and later become aware that you have authorized an amount that is greater than the amount that you owe to the BPAY Biller, you must contact the BPAY Biller to obtain a refund of the excess amount paid.

Unauthorized BPAY payments

If you tell us that a BPAY payment made from your Digital Wallet is unauthorized, you must give us your written consent addressed to the BPAY Biller who received that BPAY payment, consenting to us obtaining from the BPAY Biller information about your account with that BPAY Biller or the BPAY payment, including your customer reference number and such information as we reasonably require to investigate the BPAY payment.

If you do not give us that consent, the BPAY Biller may not be able to give us the information we need to investigate or rectify the BPAY payment. If a BPAY payment is made in accordance with your authorization, which appeared to us to be authorized by you but was not, we will credit your Digital Wallet with the amount of that unauthorized payment. However, you must pay us the amount of that unauthorized payment if we cannot recover the amount within 20 business days of us attempting to do so from the person who received it.

If we are able to recover part of the amount of that payment from the person who received it, you must only pay us the amount of that payment that we are not able to recover.

If an unauthorized BPAY payment is also a mistaken payment (refer above) or fraudulent payment (refer below), the payment will be dealt with under this section.

Fraudulent BPAY payments

If a BPAY payment is induced by the fraud of a person involved in the BPAY Scheme, then that person should refund you the amount of the fraud-induced payment. However, if that person does not refund you the whole amount of the fraud induced payment, you must bear the loss unless some other person involved in the BPAY Scheme knew of the fraud or would have detected it with reasonable diligence, in which case that person must refund you the amount of the fraud-induced payment that is not refunded to you by the person that induced the fraud.

If a fraudulent BPAY payment is also a mistaken payment (refer above), the payment will be dealt with under these fraud provisions.

8. Reward Wallet

The Reward Wallet is a separate digital wallet service located within the Digital Wallet. You access the Reward Wallet by via the ‘Reward Wallet’ icon within the Cashwo App The Reward Wallet is funded exclusively by merchants who choose to give you rewards or promotional offers. You cannot upload or transfer funds into or out of the Reward Wallet. You can use funds allocated by merchants to your Reward Wallet to make payments or access promotions with the applicable merchants. Further details on how to use your Reward Wallet is available in the Cashwo App.

9. Fees and charges

Fee information and where up to date fees can be on our website www.cashwo.com.au/faq.

We will debit your Wallet Balance for any fees that are payable to us.

We will let you know at least 30 days’ before a change takes effect through the Cashwo App of any fee changes so that you can stop using the Digital Wallet if you don’t like our new fees.

Current fees and charges that apply to your Digital Wallet can be found here on our website www.cashwo.com.au/faq

Merchants and financial institutions may also impose fees or surcharges.

10. Security and Protecting your Cashwo Account information and Cashwo Digital Wallet passcode

Using the Cashwo App via your mobile device means that any person who has access to your mobile device may be able to access your Digital Wallet to make transactions. It is important you keep your mobile device passcode and your Cashwo Account name and passcode secure. You are responsible for ensuring that:

  • Where applicable, only the Cashwo Account holders’ biometric identifier (including, but not limited to, a fingerprint or face ID) is registered on the mobile device (and no other person’s biometric identifier is registered);
  • The mobile device you are using is not shared with anyone and is used only by the Cashwo Account holder;
  • You keep your mobile device passcode and your Cashwo passcode secure and do not unnecessarily disclose or share this information with any other person including by:
    • Not sharing it with anyone;
    • Not choosing an easily guessable passcode such as your date of birth or an easily recognizable part of your name;
    • Not acting with extreme carelessness in failing to protect the security of your mobile device passcode and your Cashwo Account passcode.
  • If you fail to comply with any of the requirements in this clause 10 which results in, or contributes to the cause of, any transaction, you are taken to have authorized that transaction on your account.
  • This means that any Digital Wallet transaction initiated by that person in these circumstances will be authorized by you and the terms of the Account Terms which deal with unauthorized transactions will not apply.
  • WARNING: this could result in significant loss or liability in relation to such transactions.

You can find further information on healthy security habits here on our website www.cashwo.com.au.

What to do when you suspect your Cashwo Account or your Cashwo Digital Wallet has been compromised

If you believe your Cashwo Account and/or your Digital Wallet has been compromised then you must immediately notify us via email at support@cashwo.com.au and request us to disable your account.

When we have disabled your Cashwo Account you will not be able to access your Digital Wallet or make any transfers or payments or receive any payments into the Digital Wallet until we have reactivated your account. We may require security or other information from you in order to verify your identity and reactivate the account.

11. Responsibility for mistaken or Unauthorized Transactions (excluding BPAY)

As we are a subscriber to the e-Payments Code, your responsibility for loss arising from Unauthorized Transactions will be determined by the e-Payments Code. This section does not apply to BPAY payments.

Where you think a transaction is an Unauthorized Transaction or is otherwise incorrect, please get in touch with us immediately via email at support@cashwo.com.au and provide as much information as you can about the relevant transaction so we can investigate further.

Mistaken payment

Where you make a mistake when making a payment, we will try to reverse the transaction and retrieve your funds in accordance with our obligations under the e-Payments Code. However, if after complying with our obligations under the e-Payments Code we can’t reverse the transaction, we are not responsible and you will be liable for the mistaken payment.

Incorrect payments/issues with a purchase

If you have a problem with a purchase made using your Digital Wallet or a disputed transaction, the first step is to get in touch with the merchant you made the purchase from.

If you cannot resolve the matter with the merchant directly you should contact us about the disputed transaction via email at support@cashwo.com.au.

Compromised passcode
You will not be responsible for Unauthorized Transactions:
  • that occur after you have requested us to disable your Cashwo Account and Digital Wallet or cancelled your Cashwo Account and while it remains disabled; or
  • where you didn’t contribute to the Unauthorized Transaction.
We’ll consider that you contributed to an Unauthorized Transaction where:
  • you have not kept your Cashwo Digital Wallet passcode reasonably secure; or
  • there was an unreasonable delay in you contacting us to request that your Cashwo Account and Digital Wallet be disabled, where you believed that your passcode was compromised.
12. Transaction statements

You can view your transaction history via the ‘Transaction History’ icon in the Cashwo App at any time. We take security really seriously but please regularly check it to make sure there is nothing unusual such as:

  • transactions you don’t recognize;
  • transactions you didn’t authorize;
  • transactions where you never received the relevant goods or services;
  • transactions where the purchase price differs to the purchase amount;
  • you think a transaction may have been duplicated.
13. Digital Wallet Suspension or Cancellation

We can suspend or cancel your Cashwo account and Digital Wallet where we have concerns about security and to protect your Wallet Balance where we suspect your Cashwo Account and Digital Wallet has been compromised or if we become aware that you haven’t done what you’ve agreed to do as set out in these Terms. If this happens, we will let you know as soon as possible and refund your Wallet Balance to your nominated account.

You can also contact us to request cancellation of your Cashwo Account and Digital Wallet at any time within the Cashwo App

14. How to close your Cashwo Account and Digital Wallet

You can close your Cashwo Account by contacting us via the Cashwo App/email. (TBC). After your Cashwo Account is closed, you will no longer be to access the Digital Wallet.

15. How we can communicate with each other (notices)

You can contact us via email at support@cashwo.com.au. In an emergency you can request a call back via our website www.cashwo.com.au

We will communicate with you via notifications in the Cashwo App or via email so make sure you check your registered email account regularly and that you have notifications switched on or check them regularly.

16. Privacy

We will collect, handle and use your personal information in accordance with our privacy policy available on our website www.cashwo.com.au

Our privacy policy contains important information about the purposes for which we collect personal information, the entities to which we may disclose the information we collect (including any overseas disclosures that we may make), how you can access and seek correction of the personal information we hold about you or how you can make a complaint about our handling of your personal information.

17. Limits on what we are responsible for

We are responsible for things that occur that are our fault. This includes things like your Wallet Balance being incorrectly debited due to our error or our fraud.

We are not responsible for things outside of our control like:

  • where you input account information incorrectly;
  • where you make payments to the incorrect person;
  • where a merchant does not accept your payment or transfer;
  • delays or interruptions not caused by us;
  • transactions not being able to be processed, despite us taking reasonable precautions;
  • a dispute between you and the supplier of goods or services purchased via your Digital Wallet;
  • Compliance with our regulatory obligations.

Where we are responsible, to the extent permitted by law the most we are responsible for is the value of a transaction processed due to our error or, for other things that we may be responsible for, the amount of your Wallet Balance.

If the laws in Australia impose any guarantees, warranties or conditions on Digital Wallet, then our liability for a breach of such guarantee, warranty or conditions will be limited to:

  • supplying the services again; or
  • the payment of the cost of having the services supplied again
18. Complaints

You can find our complaints process here on our website www.cashwo.com.au which sets out what you can do if you have any complaint or dispute relating to your Cashwo Account and your Digital Wallet.

19. Changes to these Terms

We can change these Terms and any information in the PDS relating to the Terms at any time by uploading the new Terms or PDS to our website and letting you know about the changes via the Cashwo App. If you keep using your Digital Wallet after the change becomes effective, this shows that you agree to the changes.

Where we decide to charge new fees or increase our fees or any other changes are made which are not in your favor, we will give you at least 30 days’ notice before the change so you can stop using your Digital Wallet if you don’t like the change.

20. Governing law

The laws of Victoria will govern the Cashwo Digital Wallet, and any legal questions concerning this agreement.