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Legal

Terms of Service

Last updated: 11 August 2026

1. Agreement to Terms

By accessing or using PayDay ("the Service"), you agree to be bound by these Terms of Service. If you disagree with any part of these terms, you may not access the Service.

PayDay is operated by PAYDAY LIMITED, a company registered in New Zealand, and is subject to New Zealand law.

2. Description of Service

PayDay provides an automatic pay splitting service that:

  • Connects to your New Zealand bank accounts via Akahu
  • Detects incoming salary and wage payments
  • Automatically splits funds according to your configured rules
  • Provides a dashboard to view your accounts and transactions

3. No Financial Advice

PayDay is a tool that helps you automate moving your own money between your own bank accounts. It is not financial advice. Nothing in the Service, including any allocation suggestions, insights, runway figures, or content generated by the Payy assistant, is personalised financial advice or a recommendation to take any particular course of action. PayDay is not a financial adviser and is not licensed to provide regulated financial advice under the Financial Markets Conduct Act 2013. You are responsible for your own financial decisions. If you need financial advice, please consult a licensed financial adviser.

4. We Are Not a Bank and Do Not Hold Your Funds

PayDay is not a registered bank, deposit taker, or licensed financial institution, and we do not accept deposits or hold, store, or control your money at any time. All payments are initiated only on your instruction and move directly between your own bank accounts through Akahu's regulated open banking infrastructure. PayDay never takes custody of your funds and never has access to your money. Your funds remain with your bank at all times.

5. Payy AI Assistant

PayDay includes an AI-powered assistant ("Payy") that can answer questions and give general information about your accounts and the app. Payy's responses are generated automatically and may be inaccurate, incomplete, or out of date. Payy does not provide financial advice, and you should not rely on it for financial, legal, tax, or other professional decisions. Always verify important information before acting on it. See our Privacy Policy for how your information is handled when you use Payy.

6. Beta / Early Access

PayDay is currently in beta (early access) and is provided for testing purposes. The Service may contain bugs, errors, or interruptions, and features may change or be removed at any time. During the beta, payments are subject to limits (for example, a cap on the amount of each transfer and a daily total), and the Service may occasionally be unavailable. While we take care to run your splits correctly, you should monitor your own accounts and confirm that transfers have occurred as expected. To the maximum extent permitted by New Zealand law, we are not liable for any loss arising from your use of the Service during the beta period. This is in addition to the general Limitation of Liability below.

7. Eligibility

To use PayDay, you must:

  • Be at least 18 years of age
  • Be a New Zealand resident
  • Have a valid New Zealand bank account with a supported bank
  • Provide accurate and complete registration information

8. Account Registration

You are responsible for:

  • Maintaining the confidentiality of your account credentials
  • All activities that occur under your account
  • Notifying us immediately of any unauthorized use
  • Ensuring your contact information remains current

9. Payment Terms

Free Plan: Basic features at no cost with limited functionality.

Pro Plan: in development. Pricing will be published on the pricing page before launch.

  • Payments are processed securely via Stripe
  • You may cancel your subscription at any time
  • Refunds are provided on a case-by-case basis
  • Prices may change with 30 days notice

10. Limitation of Liability

To the maximum extent permitted by New Zealand law:

  • PayDay is provided "as is" without warranties of any kind
  • We are not liable for any indirect, incidental, or consequential damages
  • Our total liability is limited to the amount you paid us in the 12 months preceding the claim
  • We are not responsible for delays or failures caused by third parties, including banks and Akahu

11. Prohibited Uses

You agree not to:

  • Use the Service for any unlawful purpose
  • Attempt to gain unauthorized access to any part of the Service
  • Interfere with or disrupt the Service
  • Use automated systems to access the Service without permission
  • Impersonate any person or entity

12. Termination

We may terminate or suspend your account immediately, without prior notice, for:

  • Breach of these Terms
  • Fraudulent or illegal activity
  • At our sole discretion for any reason

Upon termination, your right to use the Service ceases immediately.

13. Governing Law

These Terms are governed by the laws of New Zealand. Any disputes shall be resolved in the courts of New Zealand.

14. Changes to Terms

We reserve the right to modify these Terms at any time. We will notify you of significant changes via email or through the Service. Continued use after changes constitutes acceptance.

15. Contact Us

For questions about these Terms, contact us at:

Email: hello@payday.nz