Terms + Conditions

Last updated 05 October 2017

About Carrots

Carrots Money Pty Ltd ABN 53 619 430 947 (Carrots Money) owns a website at carrots.money and carrotsmoney.com (“the website”) and a Facebook Messenger Bot (“the Bot” or “Carrots”) which enables registered users to automate savings by scheduling direct debits from your financial institution account and paying them to your Carrots Money Account. Users are also able to save money through payment at any time by providing direction through the bot.  (“the Services”).

Deposits to your Carrots Money Account are intended to be a means for Users to regularly save small amounts of money.

We provide the Services through the Carrots Facebook Messenger Bot. Users can give our Bot text instructions to debit funds from your financial institution account which are carried out by a PCI-compliant payments provider. When you request funds back, we transfer your funds back to you. No interest is paid.

We also use another third-party service provider to gain access to your bank transaction data in order to calculate automated savings, gather direct debit information and provide you with information on your spending and saving habits.

You must be 18 years or over to use Carrots.

Under this agreement we limit our liability to you and you indemnify us against certain losses we may suffer in connection with your use of the Services.

Carrots Money does not warrant the Services will be available at all times or be error free. Carrots Money accepts no responsibility for any errors made by you or for any deficiencies in your access facilities or procedures.

You can cancel the Agreement and the direct debit authority and request return of your funds at any time on giving us 48 hours’ notice. Note that funds may take up to 7-10 business days to return due to regulations and bank transfers.

Bot Terms of Use

The User Agreement for the website, Bot and Services consists of the following terms and conditions, together with the Privacy Policy here.

By clicking on the “Yes” button and submitting your name and registration details and using the Bot, you agree to be legally bound by the terms and conditions of this agreement with Carrots Money and warrant that you have read and understood the terms and conditions.

Meaning of terms

  1. In this Agreement:

AML Legislation means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) as amended from time to time.

Balance means any amounts held in your Carrots Money Account.

Bot means the Carrots Facebook Messenger Bot and any associated APIs.

Information means any information you provide to us in the course of interacting with the Website or the Bot, including information concerning yourself.

Carrots Money Account means the Account you have opened with us in accordance with the terms of this Agreement.

User means a person who uses the Website or the Bot, including persons who have registered as a user.

We, our and us refer to Carrots Money Pty Ltd ABN 53 619 430 947 (Carrots Money), and each of its related bodies corporate and third party service providers from time-to-time.

You and your refer collectively to you or other third parties who access the website or the Bot on your behalf and acting with your express or implied authority.

Carrots Bot

2. You use the Bot on the basis of this Agreement and Carrots Money remains the owner of the Bot at all times.

3. From time to time updates to the Bot features and tools may be issued through Facebook. Depending on the update, you may not be able to use our Services via the Bot until you have accepted any new terms or provided additional information.

4. You acknowledge and agree that:

a. You can only access the website or Bot to set up your savings plan by registering and complying with the terms of this User Agreement.
b. You must satisfy all the registration requirements, including identification.
c. It is your decision to select the amount and savings frequency for which you wish to save and that Carrots Money is not providing advice to you.
d. Upon requesting a savings plan, before the direct debit is arranged by us, you will receive an electronic confirmation which is deemed to be an accurate record of your instructions.
e. Information on the website and Bot is general only and may not be right for you. It does not constitute personal financial or investment advice or credit assistance and does not constitute an offer, recommendation, endorsement or opinion in respect of any financial or credit products.
f. Savings made by you can only be made in your name and not in the name of another person.
g. When you request your money back it will be paid to your designated financial institution account.
h. Carrots Money will not be liable for any transaction credited to an incorrect account as a result of a payment in accordance with the instructions given by you.

Your Carrots Money account

5. Electronic transfers of money from you are held by us in your Carrots Money Account on the following terms
a. The electronic money held on your Carrots Money Account will not earn any interest.
b. You may withdraw money from your Carrots Money Account at any time.
c. The electronic money held on your Carrots Money Account belongs to the person who is the registered User.
d. Your Carrots Money Account expires when your account is closed by you and the electronic money held in it is returned to you

6. Carrots Money is not prudentially supervised by the Australian Prudential Regulatory Authority. Therefore, you will not receive the benefit of the Financial Claims Scheme or the depositor protection provisions in the Banking Act 1959.

Account Security

7. You may not permit access to the Services by any other person.  Access to the Services will be by password only.  You will be fully responsible for the access to and use of the Services by any other person to whom you give the password.

8. You must notify Carrots Money immediately if there is any unauthorised use of your account by any other person or any other breach of security. You are responsible for the security of your user name and password (or other log-in information) and you take responsibility to ensure the confidentiality of this information.

Submission of Data and Reliance on Information

9. You must ensure that all information, data and documentation that is provided to Carrots Money in accordance with this Agreement is accurate and complies with all relevant laws.

10. You acknowledge and agree that Carrots Money will be entitled to rely upon (solely for performing its obligations under this Agreement), all such information, data and instructions that Carrots Money receives from you and Carrots Money will have no responsibility or liability whatsoever for:
a. the accuracy or inaccuracy thereof;
b. the non-compliance of such information, data or instructions with relevant laws; or
c. any breach of this Agreement arising from compliance with such information, data or instructions.

11. You acknowledge that Carrots Money or its agents will verify your identity electronically online and you consent to Carrots Money or its agent requesting a credit reporting body to using its files to match your identity records with the records held in Government databases.

Transferring money into your Carrots Money Account

12. Provided that you comply with your obligations under this Agreement in relation to providing funds, Carrots Money shall credit the amount of transferred funds to you in the Carrots Money Account when we receive them. For the purposes of a receiving transaction, we are a receiver and not a payment service provider.

13. We are not responsible for the money you have transferred until we have received them.

14. Should you fail to have sufficient funds in your financial institution account to meet your obligations then the transfer will not proceed. When you provide instruction to us to debit your account, we will enact a balance check on your funding account. If your balance is <$50 at this time, we will pause all debits. Note that there may be a delay between our balance check and the debit being enacted, in which case we will not be liable for funds not being available.

Payment Processing Services

15. Carrots Money uses Promisepay Pty Ltd trading as Assembly Payments (“Assembly”) as its third party service provider for Payment Processing Services. By registering as a User of the Carrots Facebook Messenger Bot you agree to be bound by Assembly’s Privacy Policy which is located at www.AssemblyPayments.com/privacy and hereby consent and authorize Carrots Money and Assembly to share any information and payments instructions you provide with one another and, to the extent required to complete your transactions, with any third party service provider(s). By using the Carrots Facebook Messenger Bot you also agree to be bound by Assembly’s User Terms which are located here.

16. In no event shall Assembly be liable to you for any actions, claims, demands, losses, liabilities, damages, recoveries, settlements and/or costs (including attorney, accountant, and expert witness fees and costs), known or unknown, contingent or otherwise (collectively, “Losses”), of any kind whatsoever, arising out or relating to your respective use of, or inability to use, the Payment Processing Services, regardless of the legal theory under which such Losses are sought. IN THE EVENT THE FOREGOING IS NOT ENFORCEABLE FOR ANY REASON, THEN ASSEMBLY’S MAXIMUM AGGREGATE LIABILITY ARISING FROM OR RELATING TO ANY CLAIM (OR SERIES OF RELATED CLAIMS), BY YOU ARISING FROM OR RELATING TO THE PAYMENT PROCESSING SERVICES SHALL NOT EXCEED THE AGGREGATE PURCHASE PRICE PAID OR PAYABLE FOR THE SERVICES WHICH ARE THE SUBJECT OF THE TRANSACTION(S) GIVING RISE TO THE PAYMENT CLAIM.


Direct Debit Request Service Agreement

17. You agree that the following applies to debits from your financial institution account for transfers to the Carrots Money Account.

18. You may cancel your authority for us to debit your account at any time by giving us at least 48 hours’ notice in writing. You may cancel the debit arrangements by contacting your financial institution. If there are any debits that have been previously approved and are pending enactment, your cancellation will not affect these.

19. You must have a direct debit arrangement in place to operate your Carrots Money Account.

20. If you cancel the debit arrangements with your financial institution, you must make other arrangements with an alternative financial instruction.


account means the account held at your financial institution from which we are authorised to arrange for funds to be debited.

agreement means this Direct Debit Request Service Agreement between you and us.

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

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

debit payment means a particular transaction where a debit is made.

direct debit request means the Direct Debit Request between us and you.

us or we means PROMISEPAY PTY LTD TRADING AS ASSEMBLY PAYMENTS (the Debit User) you have authorised by requesting a Direct Debit Request.

you means the customer who has signed or authorised by other means the Direct Debit Request.

your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  1. Debiting your account

By signing a Direct Debit Request or by providing us with a valid instruction, you have authorised us to arrange for funds to be debited from your account. You should refer to the Direct Debit Request and this agreement for the terms of the arrangement between us and you.

We will only arrange for funds to be debited from your account as authorised in the Direct Debit Request and where you have explicitly instructed us through the app.


If the debit day falls on a day that is not a banking day, we may direct your financial institution to debit your account on the following banking day. If you are unsure about which day your account has or will be debited you should ask your financial institution.

  1. Amendments by us

We may vary any details of this agreement or a Direct Debit Request at any time by giving you at least fourteen (14) days written notice.

  1. Amendments by you

You may change*, stop or defer a debit payment, or terminate this agreement by providing us with at least fourteen (14 days) notification by writing to:

Accounts Department
Assembly Payments
Level 3
48 Cambridge Street
Collingwood 3066 VIC


by emailing us at accounts@assemblypayments.com and/or hello@carrots.money during business hours;


arranging it through your own financial institution, which is required to act promptly on your instructions.

*Note: in relation to the above reference to ‘change’, your financial institution may ‘change’ your debit payment only to the extent of advising us of your new account details.

  1. Your obligations

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

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

(a) you may be charged a fee and/or interest by your financial institution;
(b) you may also incur fees or charges imposed or incurred by us; and
(c) you must arrange for the debit 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 debit payment.

You should check your account statement to verify that the amounts debited from your account are correct. When you provide instruction to us to debit your account, we will enact a balance check on your funding account. If your balance is <$50 at this time, we will pause all debits. Note that there may be a delay between our balance check and a direct debit being enacted, in which case we will not be liable for funds not being available.

  1. Dispute

If you believe that there has been an error in debiting your account, you should notify us directly at accounts@assemblypayments.com and hello@carrots.money and confirm that notice in writing with us as soon as possible so that we can resolve your query more quickly. Alternatively you can take it up directly with your financial institution.

If we conclude as a result of our investigations that your account has been incorrectly debited 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 in writing of the amount by which your account has been adjusted.

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

  1. Accounts

You should check:

(a) with your financial institution whether direct debiting is available from your account as direct debiting is not available on all accounts offered by financial institutions.
(b) your account details which you have provided to us are correct by checking them against a recent account statement; and
(c) with your financial institution before completing the Direct Debit Request if you have any queries about how to complete the Direct Debit Request.

  1. Confidentiality

We will keep any information (including your account details) in your Direct Debit Request confidential. We will make reasonable efforts to keep any such information that we have about you secure and to ensure that any of our employees or agents who have access to information about you do not make any unauthorised use, modification, reproduction or disclosure of that information.

We will only disclose information that we have about you:

(a) to the extent specifically required by law; or
(b) for the purposes of this agreement (including disclosing information in connection with any query or claim).

  1. Notice

If you wish to notify us in writing about anything relating to this agreement, you should write to

Accounts Department
Assembly Payments
Level 3
48 Cambridge Street
Collingwood 3066 VIC

accounts@assemblypayments.com and hello@carrots.money

We will notify you by sending a notice in the ordinary post to the address you have given us in the Direct Debit Request.

Any notice will be deemed to have been received on the third banking day after posting.

Withdrawing from your Carrots Money Account

21. You can request to withdraw your money at any time. After you log into your Carrots Money Account, you may request all or part of your money held in your Carrots Money Account to be withdrawn. Simply type ‘Withdraw money’ into the bot. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider. Returning money can take up to seven business days due to KYC and identification checks and direct debit timing.

22. You must provide correct information to us. In order to satisfy AML requirements we require your tax file number to be provided and for us to conduct a KYC check. When making your withdrawal request, you must ensure that the information you provide is complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.

Your Warranties

23. You warrant:
a. that you will perform your obligations under the Agreement;
b. for individuals, that you are 18 years or older;
c. that, if you are entering into this Agreement on behalf of another person, you have the right and authority to bind that person to the terms and conditions of this User Agreement;
d. that all of the Information you have provided to us in respect of this Agreement is true, accurate and complete and we may rely on this Information; and
e. that you have made your own investigations and performed sufficient due diligence on the Website and the Bot to fully inform yourself about the functions and operation of the Website and the Bot and have not relied on any representations made by us or any other person in relation to the Website and the Bot.

Your obligations and acknowledgements

24. You must:
a. use the Website and the Bot facilities available to you in accordance with the instructions and directions set out in the Website and the Bot and in any communications from us to you;
b. keep all Information updated and follow all Website and the Bot procedures and reminders from us concerning updates;
c. immediately withdraw or correct any Information if you become aware that it is incorrect or misleading or expired;
d. if you are not able to effect any corrections, updates or any other actions required in your role via the Website facilities, contact us with the relevant Information;
e. maintain control of your access to your Website account, keep your password secure, and not permit third parties to access use or deal with your account; and
f. report any unauthorised use of your account and associated user identification to us as soon as possible after becoming aware of the unauthorised use.


25. You must pay the fees in connection with the use of our Services as published from time to time on our website. We will not process your transaction until we have received the fees from you.

26. Prices for using the Services are subject to change upon 30 days’ notice from us.

27. You agree that we are authorised to deduct our fees from your designated financial institution account. If you don’t have enough money in your account to cover these amounts, we may refuse provide any Services to you.

Modifications to this Agreement, the Website and Bot

28. We may modify the Agreement from time to time, but only if we give you 14 days’ advance notice of the changes by providing notice of such changes by posting an alert on the Website, by email to you or by other means.

29. Carrots Money may vary the configuration of the Services or substitute the Services or any component of the Website or Bot or Services without consultation with you. We may change, add to or remove from the Website or Bot any content, product, service, feature or tool without notice.

30. Carrots Money reserves the right to modify, discontinue or disable the Website or Bot or any part of the Website or Bot (on a permanent or temporary basis) at any time. While Carrots Money will, where reasonably practicable and possible, endeavour to provide you with prior notice of such modifications, discontinuations or disabling, you agree and accept that it may not always be possible to provide you with such prior notification.

Account suspension, termination or removal

31. Without limiting any of our other rights under the Agreement, we may terminate your account with us by providing seven days’ notice to your email address. You may terminate your account with us by providing us with seven days’ notice to our email address specified in this Agreement.

32. We may suspend your account or access to any part of the Website or Bot, or block access to or remove any of your Information at any time, for any reason at our discretion, including (without limitation) if you are or we suspect you are: in breach of the User Agreement; the subject of a complaint from any person; likely to bring us or the Website into disrepute; or engaged in any fraudulent activity in connection with the Website. Notwithstanding your acceptance of this User Agreement, we are under no obligation to provide access to the Website or guarantee its availability or operation in any form. You will have no claim whatsoever against us in respect of any suspension or termination under this clause. If your account is suspended or terminated, you must not apply for a new account with us.


33. Any dispute you have with us should be reported to us via email at the email address specified in this Agreement to enable us to attempt to resolve the dispute.

Confidential Information

34. Unless provided otherwise by us in writing, you must keep confidential, and not use or disclose, any of our information (including material obtained through the Website or Bot and your user name and password for the Website or Bot) that is marked as confidential information or which is by its nature confidential information, excluding information which is public knowledge (other than as a result of breach of confidentiality by you), is in your prior possession or that is otherwise acquired or developed by you independently of us. Upon our written request, you must return or destroy all copies of confidential information in your custody or control.

Intellectual property rights of the Service

35. The User acknowledges that the User has no rights in or title to any of the intellectual property contained on the website, Bot or the Service including, but not limited to, trademarks and trade names, logos, copyright, designs, confidential information or any other intellectual property rights that may exist in the information contained on the Website or Bot.

36. The Services or any portion of the Services may not be reproduced, duplicated, copied, sold, re-sold or otherwise exploited for any commercial purpose that is not expressly permitted by Carrots Money.


37. Our Privacy Policy sets out the information (including personal information) we collect, and how we use it, when you access and use this website and Bot and you consent to such use, and agree that these uses constitute the primary purposes for which we collect your personal information, for the purpose of the Privacy Act 1988 (Cth). You agree to comply with any reasonable direction given by us in relation to privacy matters in respect of the Website or Bot. You can access our Privacy Policy [link: here].  

No Agency

38. Entry into this Agreement does not give rise to an agency, partnership, joint venture, employee-employer or other similar relationship. You do not have any other authority to bind us in any way.

Anti-Money Laundering

39. You acknowledge and agree that:
a. where required, you will provide to us all information reasonably requested by us in order for us to comply with the obligations imposed on us pursuant to the AML Legislation;
b. Carrots Money may be legally required to disclose information about you to regulatory and/or law enforcement agencies;
c. We may decline to enter into or conclude transactions involving a potential breach of the AML Legislation, and Carrots Money will incur no liability from any action we take to comply with such Laws.
d. We may block, delay, freeze or refuse any transactions where we have reasonable grounds to believe that the relevant transactions are in breach of the AML Legislation or any other relevant law;
e. when transactions are blocked, delayed, frozen or refused by us, you agree that Carrots Money is not liable for any loss suffered by you arising directly or indirectly as a result of Carrots Money taking this action; and
f. Carrots Money will monitor all transactions by you in accordance with its obligations under the AML Legislation.

Limitation of liability in relation to the Services

40. To the extent permitted by law, Carrots Money (and any of its subsidiaries, directors, employees, contractors, agents and officers) will not be liable for any damages arising in contract, tort (including negligence) or otherwise from the access to or use of (or inability to access or use) the Services or from any action taken (or refrained from being taken) by the User.  In no event will Carrots Money be liable for any loss of profit, loss of data or loss of goodwill or any consequential, indirect or special damages of any kind which may result from the User’s access to or use of the Services.

41. To the extent permitted by law, Carrots Money excludes all warranties and representations, express and implied, in relation to the Services.’

42. Where liability cannot be excluded, Carrots Money limits its liability at Carrots Money’s discretion to:
(i) the supplying of the services again; or
(ii) the payment of the cost of having the services supplied again.

43. The User warrants that it has not relied on any representation made by Carrots Money which has not been stated expressly in the Agreement, or on any descriptions, illustrations or specifications contained in any document including catalogues or publicity material produced by Carrots Money.


44. You indemnify us, our officers, employees and agents against any claim, liability, loss, damage, costs (including the cost of any settlement and legal costs and expenses on a solicitor and own client basis), and expenses arising out of or as a consequence of a default or unlawful or negligent act or omission on your part (including if relevant your officers, employees, agents or subcontractors).


45. This Agreement is governed by the laws of New South Wales, Australia and each party submits to the non-exclusive jurisdiction of the courts of New South Wales. If any provision of these Terms is determined to be unenforceable or invalid by any court, such provision shall be deemed to be modified as required to ensure its enforceability or, if that is not possible, severed from these Terms, without affecting the continued operation of the remainder of the Terms.


46. The following terms survive termination of your account and this Agreement: 34-36, 40-45 and 47.

47. We reserve the right to retain any and all data or information for such time as is necessary to comply with our legal obligations notwithstanding the termination or cessation of your relationship with us.

Contacting each other

48. Carrots Money is a company incorporated under the laws of Australia with Australian company number 619 430 947 (“Carrots Money”, “we”, “us”, or “our” as applicable).

49. If you have any queries regarding these Terms, please contact Carrots Money as at hello@carrots.money

50. You consent to Carrots Money using the email address you provide as the primary method for Notice to you.