Waave User Agreement

Version 1.

This Agreement

This agreement is a contract between you and Waave Technologies Pty Ltd

ABN 60 642 784 030 ( we , us or Waave ) governing your use of your Waave account and the Waave services.

By opening and using a personal Waave account, you agree to comply with this agreement, as well as our:

  • Combined Financial Services Guide and Product Disclosure Statement
  • Privacy Policy
  • Consumer Data Rights Policy
  • Acceptable Use Policy

( Incorporated Policies ). (Combined, this Agreement )

If there is any inconsistency between this User Agreement and the Incorporated Policies, the terms of the Incorporated Policies apply.

Updates to this Agreement

Any revisions to this Agreement will be effective at the time we specify. If our changes reduce your rights or increase your responsibilities, we’ll provide at least 30 days’ notice by email.

By continuing to use our services, you agree to comply with any changes made. If you don’t agree with future changes, you may close your account.

Getting started

Personal accounts

There are two types of Waave accounts: personal and business. This Agreement governs the use and provision of personal accounts.

Personal accounts may be used by individuals to:

  • Buy products or services online or in-person;
  • Review transactions from your linked bank account(s).

Opening an account

By opening a Waave account, you acknowledge and agree that:

  • You’re responsible for maintaining adequate security and control of your account and login details;
  • You’ll keep your mailing address, email and other contact information current; and
  • Any information we collect about you will be managed in accordance with this Agreement.

Verifying your identity

You must verify your identity to open a Waave account. You authorise Waave, directly or through third parties, to make any inquiries we consider necessary to do so. This may include requiring you to:

  • Provide further information;
  • Take steps to confirm ownership of your email address or bank accounts;
  • Provide identity documents, such as your driver licence.

If you do not verify your identity or we are unable to obtain the information required to verify your identity, you will not be able to use your Waave account or the Waave services.

If you use the Waave Collection Agent service to make payments to us in our capacity as an agent for a person, we may ask you to verify your identity before using any other Waave service.

Closing your account

You may close your account and terminate your relationship with us at any time without cost, unless:

  • You are evading an investigation
  • You have a pending transaction or open transaction dispute.

You remain liable for all obligations related to your account, even after it is closed.

If you close your account, we’ll cancel any scheduled or incomplete transactions. You should contact any sellers you have agreements with to organise another way to pay for these transactions.

If you do not access your Waave account for one or more years, we may close it.

Waave Collection Agent service

Paying us as agent

Separate to the “Making payments” service mentioned below, you can start making payments to approved suppliers of goods and services ( Suppliers ) using the Collection Agent service. This is available where the Supplier has appointed Waave as its agent to collect payments due to the Supplier. When you make payment to Waave as agent (and the transaction is not refunded or reversed), that satisfies your applicable relevant obligation to pay the Supplier for goods or services. You can make the payment to Waave through any of your existing financial institution accounts, using Osko payments, the PayMe service, a direct debit authority or a standing authority on a credit card.

For the collection agent service, Waave does not act as an agent or service provider to you, only for the Supplier, and the “Making payments” and “Managing your Account”sections of this agreement don’t apply.

The Waave App will tell you the amount of the payment and the Supplier for which we are collecting payments.

Making payments

Separately from the Collection Agent service, you can use Waave to make payments for goods or services, or non-commercial payments to friends or family.

When you make a payment, you authorise us to:

  • Debit funds on your behalf from your chosen bank account;
  • Transfer the funds to the other Waave account;
  • Submit the debit to another linked bank account or debit your bank account at a later date if there are insufficient funds at the time of transfer.

Smart Agreements

You can enter into an arrangement to make payments to another Waave account on a one- time, regular or sporadic basis. This could be for a billing agreement, subscription or pre- authorised payments, for example. This is a Smart Agreement.

When you create a Smart Agreement, you authorise and instruct Waave to pay the third-party as directed from your linked bank account.


If you receive a refund, the funds will be returned to the bank account used for the original transaction within 3 business days.

Payment reviews

Payments may be held or delayed if Waave determines, in its sole discretion, that a transaction is high risk to you or Waave. We will conduct a review and either complete or cancel the payment and notify you of the outcome.

We may refuse to process a payment if we believe there is a risk (legal, regulatory, loss or other) associated with it or if it breaches any law or regulation.

Payment disputes

If your purchase was made through a marketplace, we encourage you to use their dispute resolution process first. Otherwise, you can dispute transactions by raising a support request in the Waave app,

Unauthorised transactions

You should regularly access and review your transactions and immediately contact us if you believe your account or a linked bank account has been compromised or accessed without your permission.

If you believe a payment was unauthorised, you should immediately mark the payment as unauthorised in your Waave account. You can also contact us by:

  • Email: complaints@waave.com
  • Phone: 1300 922 837 (within Australia)

We will review the transaction and notify you of the outcome within 5 business days.

When you are not liable for loss

We will refund you for any unauthorised transaction if:

  • A security PIN or password was forged, faulty, expired or cancelled;
  • A transaction requiring the use of a security PIN or password occurred before you received it (including a reissued security PIN);
  • A transaction was incorrectly debited more than once;
  • A transaction was performed after we were informed that a PIN had been misused, lost or stolen; or
  • The loss was due to fraud or negligence by any of our employees or agents, or employees or agents (including merchants) involved in the Electronic Fund Transfer network.

When you are liable for loss

You’re responsible for losses arising from an unauthorised transaction where we can prove on the balance of probability that you contributed to the loss through fraud or by not adequately protecting your security PIN or password. You are liable in full for the actual losses that occur before the loss, theft or misuse of a security PIN or password is reported to us.

If Waave malfunctions and you should have been aware that our service was unavailable or malfunctioning, we will only be responsible for correcting errors in your accounts and refunding any associated fees or charges.

Managing your account

Linked bank account

You must keep at least one Australian bank account linked to your Waave account at all times.

If you have more than one bank account linked to your Waave account, the first added will be considered your primary bank account. You can change your primary bank account in the Waave app.

Payments you authorise will be made from your primary bank account, unless you select a different bank account at the time of the transaction or creation of a Smart Agreement.

Account statements

Your Waave account statements are available by exporting your Transaction list in the Waave app. Account statements show activity on your Waave account, including transactions and refunds.


There are no fees for using a personal Waave account or for making payments. Fees may still apply from your bank if you have insufficient funds when the transaction is processed.

If payments you receive from friends and family are deemed by Waave, acting reasonably, to be commercial, they may be subject to Waave’s standard fee of $0.28 per transaction to receive a payment or issue a refund.

Restricted activities and limitations

Restricted activities

In connection with your use of our websites, your Waave account, the Waave services, or in the course of your interactions with Waave, other Waave customers or third parties, you must not:

  • Breach this Agreement or any other agreement between you and Waave;
  • Violate any law, statute, ordinance, or regulation;
  • Provide false, inaccurate or misleading information;
  • Send what we reasonably believe to be potentially fraudulent funds;
  • Refuse to corporate in an investigation;
  • Facilitate any viruses, trojan horses, malware, worms or other computer programming routines that attempt to or may damage, disrupt, corrupt, misuse, detrimentally interfere with, surreptitiously intercept or expropriate, or gain unauthorised access to any system, data, information or Waave services;
  • Use an anonymising proxy;
  • Use any robot, spider, other automatic device or manual process to monitor or copy our websites without our prior written permission;
  • Use any device, software or routine to bypass our robot exclusion headers;
  • Interfere with or disrupt or attempt to interfere with or disrupt our websites, software systems (including any networks and servers used to provide Waave services) operated by us or on our behalf, any Waave services or others’ use of Waave.
  • Take any action that may cause us to lose any of the services from our internet service providers, payment processors, or other suppliers or service providers;
  • Initiate any payment where you do not have sufficient funds
  • Circumvent any Waave policy or determinations about your Waave account, such as temporary or indefinite suspensions or limitations including, but not limited to, engaging in the following actions: attempting to create new or additional Waave account(s) or using someone else’s Waave account;
  • Harass or threaten our employees, agents, or other users.

Account limitations and terminations

You may be unable to make payments or close your account if we notice your account is subject to restricted activities, an increased financial or other risk, or activity that appears to be unusual or suspicious.

This may also happen if:

  • We suspect someone is using your account without your knowledge;
  • Your payments are declined for insufficient funds or incorrect bank details;
  • You lodge excessive payment disputes;
  • We can’t provide our services to you in accordance with any existing or new conditions applied by the Australian Securities and Investment Commission (ASIC) or any other government agency in Australia;

We will notify you if we take any action on your account, including limiting your ability to make payments or close it. If there are actions you can take to resolve the issue, we will outline these in our email.

Depending on the severity of the activity, we reserve the right to terminate this Agreement and/or close or suspend your account immediately and without penalty to us. We may also:

  • Refuse to provide Waave services to you in the future;
  • Limit your access to our websites, software, systems, your Waave account or any Waave services;
  • Contact your bank or any other impacted third parties or law enforcement about your actions;
  • Update any inaccurate information you provided us;
  • Take legal action against you.

Complaints about Waave

We’re committed to dealing with complaints fairly and resolving them in accordance with our processes and policies, and relevant regulatory standards.

You can report complaints about our services by:

Email: complaints@waave.com

Phone: 1300 922 837 (within Australia

Mail: Waave Technologies PO Box 789 Rose Bay NSW 2029

We aim to:

  • Acknowledge receipt of all complaints within 5 business days
  • Resolve them within 28 business days where possible.

Unresolved complaints

If you’re not satisfied with our resolution or handling of your complaint, you can contact the Australian Financial Complaints Authority (AFCA). Contact details are available on their website at http://www.afca.org.au

Alternative dispute resolution

In resolving complaints, we may in our discretion use alternative forms of dispute resolution, such as binding arbitration or non-binding mediation to be held in New South Wales, Australia, or another location mutually agreed upon.


Assumption of rights

If we reverse a payment you made (either at your initiative or otherwise), you agree that we assume your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, at our discretion.

No waiver

Our failure to act with respect to a breach of any obligations under this Agreement by you or others does not waive our right to act with respect to subsequent or similar breaches.


You indemnify and hold Waave harmless from any claim or loss (including legal fees) arising our of or in connection with:

  • Your breach of this Agreement or any other agreement between you and Waave;
  • Your breach of any law
  • Your breach of any right of a third party;
  • An act or omission of a person you authorise to access your account; or
  • An act or omission of a person not authorised to access your account as a result of your negligence.

Your liability will be proportionally reduced to the extent that Waave caused or contributed to the relevant claim or loss, or where we failed to take reasonable steps to mitigate it.

Limitation of liability

Waave’s liability is limited with respect to your Waave account and your use of Waave services. To the maximum extent permitted by law and to the extent that Waave’s liability is not otherwise limited by this or any other term of this Agreement, in no event will Waave be liable for Consequential Loss (whether the claim is in relation to the loss or damaging arising under statute, in contract or in tort (including negligence) or otherwise) arising out of connection with:

  • Our websites, software, systems (including any networks and services used to provide Waave services) operated by us or on our behalf;
  • Any Waave services; or
  • This Agreement.

To the maximum extent permitted by law (and subject to our liability under any Consumer Guarantee that may apply), in no event will Waave be liable to you for any loss or damage of any kind arising out of or in connection with:

  • Your use of, or inability to use, our websites, software, systems (including any networks and services used to provide Waave services) operated by us or on our behalf, or the Waave services;
  • Delays or disruptions to our websites, software, systems (including any networks and services used to provide any of the Waave services) operated by us or on our behalf and any of the Waave services;
  • Viruses or other malicious software obtained by accessing our websites, software, systems (including any networks and services used to provide Waave services) operated by us or on our behalf, or the Waave services;
  • Glitches, bugs, errors, or inaccuracies of any kind in our our websites, software, systems (including any networks and services used to provide Waave services) operated by us or on our behalf, or the Waave services or in the information and graphics obtained from them;
  • The content, actions, or inactions of third parties; or
  • A suspension or other action taken with respect to your Waave account.

Subject to paragraph "When you are not liable for loss", to the fullest extent possible at law and in equity Waave's maximum cumulative liability arising out of or relating to this User Agreement, will not exceed $100.

Release of Waave

If you have a dispute with any other Waave account holder, you release Waave from any and all claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with your dispute.


You may not transfer or assign any rights or obligations you have under this Agreement without our prior written consent. We may transfer or assign this Agreement or any right or obligation under it at any time. We will notify you if we do.

Governing law

This Agreement is governed by the law in force in New South Wales, Australia.


If any provision of this agreement is held illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary. This Agreement will otherwise remain in full force and effect and be enforceable.


Business Day means Monday to Friday, excluding designated public and bank holidays in New South Wales, Australia.

Consequential Loss means any loss, damage or costs incurred by you that is indirect or consequential, as well as loss of claims by third parties, loss of or damage to credit rating, loss of anticipated savings and/or loss or denial of an opportunity.

Consumer Guarantee is a right you may have under consumer protection laws against providers of goods or services.