Terms &
Conditions
Please read these Terms & Conditions carefully before using Rounds.
1. About Rounds
Rounds is a technology platform that enables users to create and participate in rotating savings groups (Rounds). We provide the platform, tools and services to facilitate contributions, communication and payouts in accordance with the rules set by each group.
Rounds is not a bank, credit provider or financial adviser. We do not hold member funds. All funds are held with our regulated third-party payment providers.
2. Eligibility
You must be at least 18 years old and legally capable of entering into binding agreements to use Rounds.
You must provide accurate and complete information and maintain the security of your account.
3. Rounds & Member Commitments
Rounds are based on trust and commitment. When you join a Round, you agree to the contribution amount, schedule, payout order and other terms set by the group.
You are responsible for ensuring you have sufficient funds available to meet your commitments on time.
4. Missed, Late & Overdue Payments
If you miss or make a late payment, your participation in the current Round may be delayed, restricted or you may be prohibited from participating in future Rounds.
Late payments may attract applicable fees where permitted and disclosed. Each Round operates according to the agreed rules set by its members.
5. Leaving a Round
Rounds are commitments between members. Once a Round has commenced, leaving may not be possible without the agreement of the group and in accordance with the Round's rules.
Members remain responsible for any obligations incurred before leaving a Round. Requests to leave may be reviewed by the group administrator and may impact eligibility for future participation.
6. Payouts
Payouts are processed in accordance with the group's agreed order and once all required contributions for a cycle have been successfully received.
Payout timing may be affected if members fail to meet their commitments.
7. Fees
Rounds charges a small platform fee to support payment processing, security, notifications and platform operations.
The fee is automatically deducted from each payout. Any applicable fees will always be clearly disclosed before you join or create a Round.
8. Our Role & No Guarantees
Rounds provides the technology platform to facilitate contributions and payouts, but we do not guarantee the performance, conduct, solvency or financial commitments of any member.
To the extent permitted by law, Rounds is not responsible for any loss, damage or expense arising from a member's failure to meet their obligations, withdrawal from a group, or other actions outside of our control.
9. User Responsibility
You are responsible for choosing who you join a Round with and for assessing the suitability of the group before participating.
You must use Rounds in accordance with all applicable laws and these Terms.
10. Acceptable Use
You agree not to use Rounds for any unlawful purpose or in any way that may damage, disable, overburden or impair our platform or interfere with any other user's use of Rounds.
11. Changes to Terms
Rounds may update these Terms & Conditions from time to time to reflect changes to our platform, services, legal obligations, or business practices.
Where required, we will notify members of material changes through the app, email, or other appropriate communication channels. Continued use of the Rounds platform after any changes take effect constitutes acceptance of the updated Terms.
12. Contact Us
If you have any questions regarding these Terms & Conditions or the Rounds platform, please contact our support team through the app or via the contact details available on our website.
13. Australian Law
Rounds operates in accordance with Australian laws and regulations.
By using Rounds, you agree that these Terms & Conditions are governed by the laws of Australia.
14. Need Help Resolving an Issue?
We encourage members to resolve issues directly where possible.
If you need support using the platform, the Rounds team is here to help.
Agreements and commitments between Round members remain the responsibility of the members involved.