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Legal

Terms of Service

Last updated: 8 October 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 figures and estimates such as Left to spend, 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 Payy's responses are generated automatically and may be inaccurate, incomplete, or out of date.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 unauthorised use
  • Ensuring your contact information remains current

9. Plans, trials and payments

Plans

PayDay is a paid service with two plans, Plus and Pro. They are the same except for how many income sources PayDay splits for you: Plus covers one and Pro covers up to three. You can pay monthly or annually. The price of your plan is the price shown to you when you subscribe, in New Zealand dollars.

Without a plan you can create an account, connect your bank and set up one income source and its split rules, but PayDay will not move any money for you until you have an active plan or free period.

Free trial

  • The first time you subscribe, your plan starts with a free trial: 30 days if you subscribe through our website, or Apple's one-month introductory offer if you subscribe in the iOS app. Each PayDay account can have one free trial, and a free period (see Free periods below) counts as your free trial.
  • You need to add a payment method to start the trial. You are not charged during the trial, and we will remind you by email before it ends.
  • Unless you cancel before the trial ends, your subscription starts automatically and you are charged the price of your plan on the day the trial ends.
  • Changing plan during the trial does not end the trial.

Automatic renewal

Your subscription renews automatically at the end of each monthly or annual billing period, and you are charged the price of your plan at that time, until you cancel.

How you pay

  • Subscriptions bought through our website are billed by Stripe, our payment processor, and you can pay by card, Apple Pay or Google Pay. We never see or store your full card details.
  • Subscriptions bought in the iOS app are billed by Apple. Apple's terms apply to those purchases, and Apple handles their payment, billing and refunds.
  • PAYDAY LIMITED is not registered for GST, so no GST is added to subscriptions bought through our website. Prices charged by Apple include any taxes Apple collects. If we register for GST, we will tell you before it changes what you pay.

Cancelling

  • You can cancel at any time. If you subscribed through our website, cancel from the subscription settings in your PayDay account on the web. If you subscribed in the iOS app, cancel in your Apple ID subscription settings.
  • When you cancel, your plan keeps working until the end of the billing period you have already paid for. After that PayDay stops moving money for you. Your settings, split rules and history are kept, and you can subscribe again at any time.
  • If you cancel during your free trial, you are not charged.

Refunds

  • We do not refund part of a billing period when you cancel.
  • If your free trial turns into a paid subscription and you did not mean it to, contact us within 7 days of that first charge. We will refund the first charge in full and end the subscription.
  • Refunds for subscriptions bought through Apple are decided by Apple. Request them from Apple.
  • Nothing in these Terms limits your rights under the Consumer Guarantees Act 1993 or the Fair Trading Act 1986.

Changing plan

  • Upgrades take effect straight away. Moving from Plus to Pro, or from monthly to annual billing, is an upgrade.
  • If you move from Plus to Pro and keep the same billing period, you are charged the difference at once for the rest of your current billing period.
  • If you move from monthly to annual billing, you pay the annual price straight away, less the unused part of the month you have already paid for, and your year starts that day, so your renewal date moves to a year from then.
  • Downgrades take effect at the end of the billing period you have already paid for. Moving from Pro to Plus, or from annual to monthly billing, is a downgrade, and so is any change that includes a move from annual to monthly billing, even when it also moves from Plus to Pro, such as Plus annual to Pro monthly. You keep your current plan until then, and we do not refund or credit the rest of that period.
  • Before you confirm any change, including one that moves to a lower plan and a longer billing period at once, such as Pro monthly to Plus annual, your subscription settings show what you will pay and when the change takes effect.
  • If you upgrade during your free trial, your trial end date stays the same and nothing is charged until the trial ends.
  • If a downgrade leaves you with more income sources than your new plan covers, you choose which one keeps splitting. The others are paused, not deleted.
  • Subscriptions bought through Apple change plan under Apple's rules.

Failed payments

If a renewal payment fails, we will let you know and your plan keeps working for 7 days while the payment is retried. If it is still unpaid after 7 days, PayDay stops moving money for you until the payment goes through or you choose a plan again. Nothing is deleted.

Free periods

We may give some people a free period on a plan, for example waitlist members or early testers. A free period does not need a payment method and does not turn into a paid subscription by itself. When it ends, PayDay stops moving money for you unless you choose a plan, and we will remind you before that happens. If you subscribe through our website during a free period, your first charge is on the day the free period ends. A free period counts as your free trial, so if you subscribe after it has ended, there is no further free trial and your first charge is on the day you subscribe.

Price changes

We may change our prices. We will email you at least 30 days before a new price applies to your subscription, and you can cancel before it does. For subscriptions bought through Apple, Apple's price change rules also apply.

Deleting your account

If you delete your PayDay account, we cancel any subscription bought through our website straight away, and unused time is not refunded. Deleting your account does not cancel a subscription bought through Apple, so cancel it in your Apple ID subscription settings first. Your split and transfer history is deleted with your account. We keep billing records, such as invoices, after your account is deleted, as our Privacy Policy explains.

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 unauthorised 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.

If we end your account for a reason other than a breach of these Terms or fraudulent or illegal activity, we will refund the unused part of any subscription you bought through our website.

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