Terms of Use

These Terms of Use ("Terms") are a binding agreement between you and COIN Limited, a company registered in New Zealand and trading as CASHBOX ("CASHBOX", "we", "us", "our"). They govern your access to and use of the CASHBOX website, applications and services (together, the "Platform").

CASHBOX is an online escrow payments service. We let a business or person who is owed money (the "Seller") create an escrow payment, and the person paying (the "Buyer") fund it. We hold that money on trust and release it to the Seller when the Buyer confirms, or refund it, strictly in line with these Terms. Buyers and Sellers are together referred to as "Users".

CASHBOX is a neutral stakeholder and escrow agent. We are not a party to the underlying contract between the Buyer and the Seller, we do not supply the goods or services being paid for, and we do not introduce Buyers to Sellers, host listings, or arrange the deal. Our role is limited to holding and moving the money.

By creating an account, ticking the acceptance box, or otherwise accessing or using the Platform, you confirm that you have read, understood and agree to be bound by these Terms and our Privacy Policy. If you do not agree, you must not use the Platform. Acceptance of these Terms forms a contract in electronic form under the Contract and Commercial Law Act 2017.

To use the Platform you must:

• be at least 18 years old and able to enter into a legally binding contract;
• if acting for a business or other entity, be authorised to bind that entity, which will also be bound by these Terms;
• provide accurate, current and complete information and keep it up to date; and
• be ordinarily resident in, or carrying on business in, New Zealand unless we agree otherwise in writing.

You are responsible for keeping your login credentials secure and for all activity that occurs under your account. You must notify us promptly at support@cashbox.nz if you suspect any unauthorised use of your account.

We may verify your identity at sign-up or at any later time. Because CASHBOX holds and transfers funds, a Buyer may be required to complete identity verification before they can fund a payment, and a Seller may be required to verify their identity and nominated bank account before they can receive a payout.

The contract for whatever is being paid for (the goods, services or other arrangement) is formed directly between the Buyer and the Seller. CASHBOX simply provides the escrow and payments tools to hold and release the agreed funds. We are not the supplier, buyer, agent, broker or guarantor of the underlying deal.

We do not verify, endorse or guarantee the underlying transaction - including the quality, safety, legality, description or delivery of any goods or services, the truthfulness of anything a User tells the other, or either party's ability to perform. Decisions about whether to transact, and with whom, are yours.

Where CASHBOX supplies its own services to you (the escrow-holding, payment-processing and complaint-handling services), we will do so with reasonable care and skill consistent with the Consumer Guarantees Act 1993, to the extent that Act applies.

CASHBOX holds the Buyer's funds in escrow to give both sides confidence. The Seller creates an escrow payment for the agreed amount. The Buyer funds the full amount, and we hold it on trust until the Buyer releases it to the Seller, it is refunded to the Buyer, or it is otherwise dealt with strictly in accordance with these Terms.

How the Buyer pays into escrow. You fund escrow by a bank-to-bank transfer from your own New Zealand bank account, initiated through Akahu, a licensed New Zealand open-banking payment-initiation provider. Your money is paid directly into CASHBOX's client trust account; it does not pass through CASHBOX's own operating accounts, and CASHBOX does not collect, see or store your card or internet-banking login details. Because payments are funded directly from your bank, they are not card payments and are not subject to card chargebacks. By initiating a payment you authorise the provider to debit your nominated account for the amount shown before you confirm.

How escrow funds are held. Money paid into escrow is received and held on trust by CASHBOX in a dedicated client trust account with Bank of New Zealand (BNZ) (the "Trust Account"). The Trust Account:

• holds customer money on trust, separately from, and is never co-mingled with, CASHBOX's own operating funds;
• is acknowledged by the bank to be a trust account holding client money (not CASHBOX's money);
• holds each escrow balance for the relevant payment until it is released to the Seller, refunded to the Buyer, or otherwise dealt with strictly in accordance with these Terms;
• is not used by CASHBOX to meet its own general business expenses, is not available to CASHBOX's general creditors, and is not used to cover any shortfall on another User's payment; and
• is reconciled regularly against CASHBOX's records, with any difference investigated and resolved promptly.

Funds held in escrow represent the principal the Buyer funded, are held on trust for the relevant payment, and are released or refunded strictly in accordance with these Terms and any dispute outcome. You are always entitled to the full principal escrow amounts due to you; that principal is never reduced by the interest arrangement described below (only CASHBOX's disclosed fee is deducted from a release).

Interest on trust funds - disclosure of CASHBOX's margin. Customer money in the Trust Account may earn interest. The way trust-account interest is dealt with is a fee you pay CASHBOX, disclosed to you here so you can give an informed direction before you fund:

• Amount and basis: the fee equals all interest (if any) that the Trust Account earns attributable to your held balance over the period it is held - that is, your held principal multiplied by the bank's applicable interest rate for the number of days it is held. The rate varies with the bank's rates and your balance may earn no interest at all.
• Purpose: CASHBOX retains this interest as a margin to help meet the cost of operating the Trust Account and providing the escrow, security and complaint-handling services. It is not a separate charge added to your principal.
• Your express direction: by funding escrow you expressly direct and authorise CASHBOX to deduct and keep that interest as its fee, and you agree no User has any claim to interest earned on trust funds. Your principal is never reduced - only the interest earned on top of it is retained by CASHBOX.
• You can ask us at any time, before or after funding, for the current interest rate and an estimate of the interest on your specific balance.

Releasing funds. The Buyer releases the funds to the Seller when they are satisfied the deal has been met. If the Buyer does not respond within the auto-release period stated on the Platform, the payment may be treated as released so the Seller is not left waiting indefinitely. You should only release funds for a deal you are satisfied with.

Releases, refunds and payouts are made by bank transfer from the Trust Account to the relevant User's nominated New Zealand bank account. On a release, CASHBOX's fee (see "Fees" below) is deducted and the remaining net amount is paid to the Seller. Payment initiation is provided by Akahu, a licensed New Zealand open-banking payment-initiation provider, and by transacting you also agree to that provider's terms. We are not responsible for the acts or omissions of the payment provider or your bank, but we will pass on refunds and releases from trust as required by these Terms.

Our financial services are designed to comply with New Zealand law, including the Financial Markets Conduct Act 2013 and the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

Financial Service Providers Register. CASHBOX is registered (or is in the process of registering) as a financial service provider on the Financial Service Providers Register (FSPR), which is administered by the Registrar of Financial Service Providers at the Companies Office. Our FSP registration number is FSP1012829, and our current registration details can be searched on the FSPR.

Dispute resolution scheme. As a provider of financial services to retail clients, CASHBOX is (or will be, before it is required to be) a member of an approved external dispute resolution scheme: FSCL - Registration 9690. That scheme can independently consider unresolved complaints about CASHBOX's financial services at no cost to you (see "Complaints" below). Approved schemes operate under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.

CASHBOX charges a flat 1.5% of the payment amount (GST-inclusive) on each escrow payment. The fee is shown clearly before a payment is funded, and is deducted from the amount when funds are released to the Seller, so the Seller receives the payment amount less the fee. There are no monthly or subscription fees. We may change our fee on reasonable notice; a change does not affect payments already funded.

All fees are stated in New Zealand dollars (NZD). Our fee is inclusive of Goods and Services Tax (GST) where GST applies under the Goods and Services Tax Act 1985, and a GST-inclusive tax invoice for our fee is available to the Seller.

CASHBOX's fee applies only to our own escrow and payment service. We do not collect or account for GST on the underlying transaction between the Buyer and the Seller - that is a matter between those parties. You are responsible for your own tax obligations arising from your use of the Platform, including any income tax and GST on the goods or services you supply or receive.

As a Buyer you agree to:

• only fund payments for genuine, lawful transactions, and not use escrow for anything illegal, fraudulent or that breaches a third party's rights;
• make sure the payment details and amount are correct before you fund;
• complete any identity verification we reasonably require before funding;
• release funds promptly once the deal has been met, or raise a dispute within a reasonable time if it has not; and
• deal honestly with the Seller and with CASHBOX.

As a Seller you agree to:

• only request escrow payments for genuine, lawful transactions that you are able and entitled to fulfil;
• describe what the payment is for accurately, and not use escrow to mislead a Buyer or evade fees or chargeback protections;
• provide accurate identity information and a correct New Zealand bank account for payouts, and complete any verification we reasonably require before receiving funds;
• meet your obligations to the Buyer under your own contract, including any guarantees that apply under the Consumer Guarantees Act 1993 or Fair Trading Act 1986 to what you supply; and
• deal honestly with the Buyer and with CASHBOX.

You are solely responsible for your dealings with the Buyer. Nothing in these Terms creates an employment, partnership, agency or joint-venture relationship between you and CASHBOX.

You must not, and must not allow anyone else to:

• use the Platform for any unlawful, fraudulent, misleading or deceptive purpose, including conduct that breaches the Fair Trading Act 1986;
• use escrow to disguise the true nature, source or purpose of funds, or to make a payment unrelated to a genuine transaction;
• use the Platform to launder money, finance terrorism, or evade sanctions or tax;
• circumvent escrow, our fee, or our security or verification measures;
• harvest data, introduce malware, or interfere with the operation or security of the Platform; or
• send unsolicited commercial electronic messages in breach of the Unsolicited Electronic Messages Act 2007.

We may investigate suspected breaches and cooperate with law enforcement and regulators where appropriate.

Because CASHBOX holds and transfers funds, CASHBOX is a reporting entity with obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML/CFT Act"). CASHBOX's AML/CFT supervisor is the Department of Internal Affairs (DIA), which from 1 July 2026 is the single AML/CFT regulator for businesses in New Zealand.

To meet our AML/CFT obligations we may:

• require you to verify your identity and, for businesses, your beneficial owners and controllers;
• request information about the source and purpose of funds;
• monitor, delay, decline or report transactions; and
• freeze funds or suspend accounts where we reasonably suspect unlawful activity or are required to do so by law.

You agree to provide the information we reasonably request for these purposes. We may be unable to tell you when a report has been made to the relevant authorities.

If a Buyer and Seller disagree about whether funds should be released or refunded, either can raise a dispute through the Platform. While a dispute is open, the affected escrow funds are paused and will not be released or refunded until the dispute is resolved.

CASHBOX is a neutral stakeholder. We do not adjudicate the merits of your underlying contract. Where a dispute is raised, we may hold the funds and ask both parties for instructions or evidence, and we will release or refund the funds in accordance with: the parties' joint written instruction; a clear entitlement under these Terms; or a binding decision of a court, the Disputes Tribunal, or our external dispute resolution scheme. You agree that the way we move the held funds in response to such an instruction or decision is administratively final for the purpose of dealing with the money.

Our handling of the held funds does not extinguish your legal rights. Users remain free to pursue remedies between themselves, including through the Disputes Tribunal (for claims within its jurisdiction) or the courts of New Zealand.

If you have a complaint about CASHBOX's own financial services, you can first raise it with us at support@cashbox.nz so we can try to resolve it through our internal complaints process. If your complaint is not resolved, you can refer it, free of charge, to our approved external dispute resolution scheme, FSCL - Registration 9690, which is independent of CASHBOX. Full contact details for the scheme are available on the Platform.

Nothing in these Terms limits or excludes your rights under the Consumer Guarantees Act 1993, the Fair Trading Act 1986, or any other law that cannot lawfully be excluded. Where you acquire CASHBOX's services for the purposes of a business, you agree that the Consumer Guarantees Act 1993 does not apply to the extent it can be contracted out of under that Act, and that this is fair and reasonable.

To the maximum extent permitted by law, CASHBOX is not liable for: the conduct, goods, services or content of any User; loss arising from the underlying transaction between Users; or indirect, consequential, or loss-of-profit damages. Where CASHBOX is liable and liability can be limited by law, our total liability to you is limited to the greater of the fees you paid us in the 12 months before the event giving rise to the claim, or NZ$200.

The Platform is provided on an "as is" and "as available" basis. We do not warrant that it will be uninterrupted or error-free, though we work hard to keep it secure and available.

We collect, use, store and disclose your personal information in accordance with the Privacy Act 2020 and our Privacy Policy. This includes information needed to operate the escrow service, process payments, verify identity, meet AML/CFT obligations, and keep the Platform safe.

You have the right to access and request correction of your personal information. To do so, or to ask a privacy question, contact us at support@cashbox.nz.

Electronic communications and notifications. By using the Platform you agree to receive communications from us electronically. You can manage your notification preferences in your account settings and turn off non-essential notification emails (for example, updates about payments and payouts). Some messages are essential to the service or are required for your security and will still be sent regardless of your preferences. These include email verification, password resets, two-factor authentication and login codes, payment and escrow confirmations, dispute notices, and legal, regulatory or account-security notifications.

CASHBOX and its licensors own all intellectual property in the Platform. We grant you a limited, non-exclusive, non-transferable licence to use the Platform in accordance with these Terms.

You retain ownership of content you submit (such as payment descriptions, references and messages), but you grant CASHBOX a worldwide, royalty-free licence to host, use and display that content for the purpose of operating the Platform. You are responsible for ensuring you have the rights to the content you submit.

You may close your account at any time. We may suspend or terminate your access, remove content, or withhold or reverse a payment if we reasonably believe you have breached these Terms or the law, or to protect Users, CASHBOX, or third parties.

On termination, we will deal with any escrow funds in accordance with these Terms and applicable law, completing or refunding open payments as appropriate. Clauses that by their nature should survive termination (including fees owed, liability, and dispute provisions) will continue to apply.

We may update these Terms from time to time. If we make material changes, we will give you reasonable notice and may ask you to accept the updated Terms before continuing to use the Platform. The version and effective date are shown at the top of these Terms.

Continuing to use the Platform after updated Terms take effect means you accept them. If you do not accept the updated Terms, you must stop using the Platform.

These Terms, and any dispute relating to them or to your use of the Platform, are governed by the laws of New Zealand, and you submit to the non-exclusive jurisdiction of the New Zealand courts.

If any provision of these Terms is found to be unenforceable, the rest remains in force. Our failure to enforce a provision is not a waiver of it. You may not transfer your rights under these Terms without our consent; we may transfer ours as part of a sale or reorganisation of our business.

Questions about these Terms can be sent to support@cashbox.nz.