1. Purpose
The purpose of this Payment Policy & Procedure (hereinafter – the "Payment Policy") is to establish operational processes and procedures for Bank transfer and Card payment on the Platform to minimize risk and provide the greatest value, and availability of high quality services to each MyDealsOnline User.
2. Definitions
Bank: means any bank, which collects payments made by the MyDealsOnline Users on its account.
Bank transfer: means an electronic transfer of the User's Funds from one bank/financial institution to another.
Banking Day: means the part of a day on which the Bank is open to the public for carrying on substantially all of its banking functions.
Cardholder: means any User, who makes payments on the Platform using a Payment card.
Funding (also mentioned as "Deposit" on the Platform): means a transfer of a certain amount of money to the User’s Account via a Payment card or Bank transfer.
Funds: means a certain amount of money transferred to and accumulated on the User’s Account.
Online bank transfer: means a technical connectivity service enabling any User to fund their Accounts with a valid bank account by submitting an electronic transfer request to their bank for selected funds to be transferred to MyDealsOnline.
Order: means a personal application to the Terms of Use.
Payment card, Card, Debit card, Credit card: means a payment card Visa, Mastercard, Amex, Discover verified under KYC, which is used by the User as the means of payment on the Platform.
Rules of International Payment Systems: means any rule, instruction, recommendation, etc., of MasterCard, Visa, Amex and/or Discover, which regulates order of processing transactions, technical requirements for processing transactions, as well as other provisions on acceptance of a Payment card.
Withdrawal: means removing User’s Funds from his/her Account under the User’s instructions.
BECS (Bulk Electronic Clearing System): means an Australian direct debit system that allows businesses to automatically withdraw funds from a customer's bank account.
3-D Secure: means XML-based protocol designed to be an additional security layer for online payment card transactions.
All other terms and definitions in the Payment Policy are used in the same meaning as under the Terms of Use.
3. Payment Methods
For the Users’ convenience, MyDealsOnline offers several payment methods for Funding Account, including PayPal, Direct bank transfer, Credit/Debit Cards, Google Pay, Afterpay, Klarna, BECS, Alipay, and Zip. Please note that withdrawal is available for verified Users only through Direct bank transfer and BECS.
3.1. PayPal
Payment procedure
For PayPal payments, to complete a purchase, the User needs to click "Pay with PayPal" and will be redirected to PayPal to complete the purchase securely.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for PayPal:
3.2. Direct bank transfer
Payment procedure
For Direct bank transfers, to complete a purchase, the User needs to obtain the bank account details on the Platform. The User should then initiate the transfer from their bank account to MyDealsOnline's account using the provided details.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for the Direct bank transfer:
3.3. Credit/Debit Cards
Payment procedure
In order to make a purchase, MyDealsOnline will accept from the User only that Payment card on which he/she is indicated as the Cardholder.
MYDEALSONLINE WILL ACCEPT ONLY VERIFIED PAYMENT CARDS.
The User has the right to use several Payment cards as long as they are verified.
MyDealsOnline warns that for the payment purposes the User can use only a 3-D Secure Payment cards.
NOTE: You can check if your card is 3-D Secure protocol with your bank.
Amount limits
With regard to MyDealsOnline internal policies and rules, as well as taking into account the Rules of International Payment System the User should make payments with regard to the following maximum amount limits, but no less than AUD 5:
The maximum amount limits for the User, who passed the identity verification procedure specified in the AML/KYC Policy:
3.4. Google Pay
Payment procedure
For Google Pay payments, to complete a purchase, the User needs to select Google Pay as the payment method and authenticate using their device's security features.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for Google Pay:
3.5. Afterpay
Payment procedure
For Afterpay payments, to complete a purchase, the User needs to select Afterpay as the payment method and follow the prompts to complete the purchase using their Afterpay account.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for Afterpay:
3.6. Klarna
Payment procedure
For Klarna payments, to complete a purchase, the User needs to select Klarna as the payment method and follow the prompts to complete the purchase using their Klarna account.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for Klarna:
3.7. BECS
Payment procedure
For BECS payments, to complete a purchase, the User needs to provide their bank account details and authorize MyDealsOnline to debit the amount from their account.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for BECS:
3.8. Alipay
Payment procedure
For Alipay payments, to complete a purchase, the User needs to select Alipay as the payment method and follow the prompts to complete the purchase using their Alipay account.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for Alipay:
3.9. Zip
Payment procedure
For Zip payments, to complete a purchase, the User needs to select Zip as the payment method and follow the prompts to complete the purchase using their Zip account.
Amount limits
Referring to MyDealsOnline internal policies and rules, the User should make payments with regard to the following amount limits set for Zip:
4. Payment Processing Timeline
In accordance with the internal rules and requirement of MyDealsOnline and taking into account the Rules of International Payment Systems, payment processing timeline will be as follows:
MyDealsOnline reserves the right, in its sole discretion, to change the above mentioned processing timeline.
Banks/financial institutions, which initiate and make the payments, can prolong the above processing timeline with regard to their internal rules and procedures.
5. Payment Investigation
In case if the User discovers that a payment has failed (i.e. no payment confirmation received within the processing timeline indicated above and no notification on processing timeline prolongation was obtained) the User has the right to initiate the investigation by notifying MyDealsOnline on the payment problems. The User should comply with notification procedure indicated in the Terms of Use.
MyDealsOnline will investigate User's case and will notify the User on the investigation results. The time needed to complete an investigation will be set on a case-by-case basis.
MyDealsOnline reserves the right to suspend the User's Account and to hold the User's order in accordance with the Terms of Use, including for investigation purpose.
NOTE: All expenses, which arise upon investigation process, shall be borne solely by the User.
6. Funding/Withdrawal Charges
Bank/financial institution fee will be charged on the amount of Withdrawal/Funding and will depend on the chosen payment method. Such fee will be reflected on the Platform when choosing payment method and will be charged automatically while processing payment transaction.
7. Modifications
The amount limits and processing timeline, as well as other terms and conditions of this Payment Policy are subject to modification by MyDealsOnline and in the case of any such modification, MyDealsOnline will make proper announcement. The modifications will apply after MyDealsOnline has given notice.
In case if the User does not wish to accept the revised Payment Policy, he/she should not continue to use MyDealsOnline Services. If the User continues to use the Services after the date on which the modifications come into effect, his/her use of the Services to be bound by the modified Payment Policy.