Terms and Conditions

Effective Date: July 10 2024


1. Introduction

Welcome to Local Pegs. Local Pegs refers to Local Pegs Pty Ltd, an Australian registered company ABN 43 652 950 706 7, and its subsidiaries or affiliates.

In these Terms and Conditions, Local Pegs is sometimes referred to as “we,” “us,” or “our,” depending on the context.

These Terms and Conditions constitute a legally binding agreement between you and Local Pegs, governing your access to and use of our mobile application (the "App") and website (the "Site"). By accessing or using our App or Site, you agree to be bound by these Terms and Conditions. If you do not agree with any part of these Terms and Conditions, you may not access or use our App or Site.


2. Definitions

In these Terms and Conditions:

  • "Account" refers to the user's personal profile and associated information, including but not limited to login credentials, transaction history, and stored value balance, which is created upon registration on the Local Pegs App and remains active for the duration of the user's use of the App.
  • "Business" refers to any entity registered with Local Pegs to promote or sell its goods or services on the platform.
  • "Local Pegs" refers to Local Pegs Pty Ltd, an Australian company registered under the relevant laws of Australia.
  • "Service" refers collectively to the features, functions, and offerings available through our App and Site, including but not limited to browsing local businesses, conducting transactions, and engaging with community features.
  • "Stored value" refers to the funds held within the Local Pegs platform for facilitating transactions. These funds represent actual currency held in trust by Local Pegs to ensure availability for user transactions, transfers, withdrawals and redemptions.
  • "Transfer" refers to a peer-to-peer transfer of funds between any two users within the Local Pegs platform using the 'Send' or 'Request' feature.
  • "Transaction" refers to any purchase, sale, or exchange of goods, services, or digital content facilitated through our Service between a business and a user initiated via the Terminal or an Online Store in the App.
  • "User" refers to any individual or business entity that accesses or uses our Service.
  • "Voucher" refers to any funds or credits issued by Local Pegs to users.
  • "Withdrawal" refers to the action of transferring funds from a user's Local Pegs account to their external bank account.

3. Eligibility

By accessing or using our Service, you represent and warrant that you are at least 16 years of age and have the legal capacity to enter into these Terms and Conditions.

If you are using our Service on behalf of a business entity, you further represent and warrant that you have the authority to bind such entity to these Terms and Conditions.


4. User Accounts

You are required to create an account to access certain features of our Service.

By accepting these Terms and Conditions, you agree to provide accurate, current, and complete information during the registration process and to update such information to keep it accurate, current, and complete.

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account.

You agree to immediately notify Local Pegs of any unauthorised use of your account or any other breach of security.

Local Pegs reserves the right to suspend, terminate, or restrict access to your account, or to impose additional conditions or restrictions on your use of our Service, without prior notice or liability, if we believe, in our sole discretion, that you have violated any provision of these Terms and Conditions or have engaged in conduct that we deem inappropriate, fraudulent, or harmful to Local Pegs, other users, or third parties. Such actions may include, but are not limited to, banning or blacklisting your account.


5. Transactions

5.1 Payment Processing

Transactions made within our Service involve the transfer of stored value. By engaging in transactions through our Service, users agree to adhere to the terms and conditions outlined by Local Pegs.

5.2 Fees and Charges

Local Pegs may charge fees for certain transactions, such as processing fees or transaction fees. Businesses may be subject to additional fees for withdrawals, promotional services, or premium features. While any fees applicable to your transactions will be clearly disclosed to you, they will not necessarily be disclosed at the time of the transaction itself.

Your continued use of our platform signifies your acknowledgment and acceptance of these terms, including any associated fees.

5.3 QuickPay

Local Pegs provides a QuickPay feature, allowing users to transact with their connected card to settle the deficit between the transaction value and their current balance. By utilising QuickPay, users authorise Local Pegs to automatically charge their connected card as necessary to finalise transactions on the App.

Quickpay incurs a fee of 2.20% on the amount required to complete the transaction.

Quickpay is enabled by default, however users can turn QuickPay off at the time a card is first added to the account or later, from settings.

5.4 Currency and Pricing

All transactions are processed in Australian Dollars (AUD) unless otherwise specified. Prices displayed on our App or Site are inclusive of Goods and Services Tax (GST) where applicable.

5.5 Refunds and Returns

Refunds and returns are subject to each individual business's Refund Policy, which is incorporated into these Terms and Conditions by reference.

5.6 Use of Funds

Bonuses and vouchers received directly from Local Pegs, such as referral bonuses and promotional funds, are exclusively intended for use within the App. These funds are non-transferable and cannot be withdrawn to external accounts.

Local Pegs reserves the right to suspend, terminate, or restrict access to your account if, in its sole discretion, it determines that you have engaged in illegal or fraudulent activities, including but not limited to the misappropriation of funds or unauthorised transfers, or have violated these Terms and Conditions or any applicable laws and regulations.

Additionally, Local Pegs may impose further conditions or restrictions on your use of our Service without prior notice or liability which may include, but are not limited to banning or blacklisting your account.

5.7 Withdrawals

Withdrawals from Local Pegs accounts are processed in once daily batches. Withdrawal requests received after 10:00 AM (Australian Eastern Standard time)will be processed the following day.

It is essential to submit your withdrawal request before the specified cutoff time if you wish to initiate a same-day withdrawal. Please note that processing times may vary depending on your bank's policies and procedures.

Withdrawals may take up to 2-3 business days.

By using our Service, you acknowledge and consent to these withdrawal processing procedures.


6. Fees and Charges Disclosure

Local Pegs may charge fees for certain transactions conducted through our Service, including but not limited to:

  • Transaction fees
  • QuickPay fees
  • Withdrawal fees
  • Other fees

There are no fees incurred to any user for deposits, transfers between non-businesses, any transfer or transaction involving a charity, or on tips or donations.

By accepting our Terms and Conditions, you acknowledge and consent to these fees.

6.1 Transaction Fees

Businesses incur a transaction fee of 1.50% of the transaction value for transactions conducted through our Service.

6.2 QuickPay Fees

Users will incur a fee of 2.20% of the transaction amount deficit when Quickpay is enabled.

6.3 Withdrawal Fees

Withdrawal fees may apply to withdrawals from a user's Local Pegs account to their external bank account. These fees are as follows:

  • $2.50 withdrawal fee to non-business users if they have not completed a transaction prior to the withdrawal request.
  • $2.50 withdrawal fee to businesses for auto-withdrawal.

6.4 Other Fees

In addition to transaction and withdrawal fees, other fees may be applicable to specific services or features offered by Local Pegs.

A 1.50% fee will be charged to businesses for both sending and receiving funds when conducting transfers between non-business users. Similarly, if a transaction or transfer occurs between two businesses, the receiving business will incur this fee.


7. Donations and Charity Model

7.1 General Users

Users who are not classified as students ("non-students") have the option to donate a portion of their savings from a transaction directly to a partnered charity within the app.

  • The default donation setting is five percent (5%) of the savings per transaction.
  • By default, the donation is randomly allocated to a different charity for each transaction.

7.2 Student Users

Student users have the option to donate a portion of their savings from a transaction directly to a university club within the app.

  • The default donation setting for students is five percent (5%) of the savings per transaction.
  • By default, the donation is randomly allocated to one of the clubs the user has been accepted into.

If a student user has not been confirmed as a member of any clubs or has not enrolled in any clubs, the donation will be redirected to the Local Pegs Charity Fund, from which it will be distributed to various vetted clubs.

The allocation of donations from the Local Pegs Charity Fund is determined solely by Local Pegs and may be subject to change at Local Pegs' discretion.

7.3 User Control Over Donations

All users retain full control over their donation settings and can adjust their preferences at any time through the app settings. These settings include the ability to:

  • Change the default donation percentage.
  • Select a specific charity or club to receive donations.
  • Enable or disable the donation feature entirely, thereby retaining the full value of their savings accordingly.

7.4 Legal and Compliance

Local Pegs rigorously vets all listed charities to confirm their legitimacy and compliance with relevant legal standards.

This vetting process is designed to ensure that donations are appropriately allocated and used for their intended purposes, as well as uphold the integrity of the Service provided to you.

Local Pegs also ensures that all donations are managed in accordance with applicable laws and regulations. By participating in the donation program, users acknowledge and agree that:

  • Donations are voluntary and can be adjusted or opted out of at the user’s discretion.
  • The charities and clubs listed on the platform may be updated periodically and are subject to change.

8. Vouchers

Vouchers are subject to the terms outlined in these Terms and Conditions.

8.1 Usage

Vouchers are automatically applied to transactions within the Local Pegs app, with the oldest voucher being used first. Vouchers may be applied across multiple transactions until their total value is exhausted.

8.2 Transferability

Vouchers are non-transferable and must be used solely for transactions within the Local Pegs app. Vouchers cannot be transferred to other users or accounts under any circumstances.

8.3 Expiry

Vouchers are subject to an expiry period, typically set at thirty (30) days from the date of issuance unless otherwise specified by the voucher type. Upon expiry, any unspent or partially used voucher balance will be refunded to Local Pegs.

8.4 Withdrawing of Vouchers

Vouchers are non-withdrawable by users and are intended to be spent within the Local Pegs app. However, Local Pegs may, at its sole discretion, designate specific voucher types or specific users’ vouchers as eligible for withdrawal. Such determinations will be communicated directly to the affected users.

These cases will be determined solely by Local Pegs.

Upon initiation of a withdrawal by a user, the available balance for withdrawal will be displayed, explicitly excluding any non-withdrawable voucher balances.

8.5 Referral Rewards

Referral reward vouchers can only be claimed once per user. Any attempts to claim multiple referral vouchers through the creation of multiple accounts, use of false information, or any other means of circumvention will be deemed a violation of our Terms.

Violating the referral voucher terms may result in:

  • Immediate revocation of any unclaimed or claimed referral vouchers.
  • Blacklisting of your account from participating in future referral programs.
  • Potential suspension or termination of your Local Pegs account.

Local Pegs reserves the right to investigate and take appropriate action against any user found to be violating these terms.


9. Intellectual Property

All content included in our App or Site, including but not limited to text, graphics, logos, images, and software, is the property of Local Pegs or its licensors and is protected by copyright laws. You may not modify, reproduce, distribute, transmit, display, perform, or create derivative works of any content without our prior written consent.


10. User Content

By submitting content to our App or Site, including but not limited to reviews, comments, and suggestions, you grant Local Pegs a non-exclusive, royalty-free, perpetual, irrevocable, and fully sublicensable right to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, and display such content worldwide in any media.


11. Limitation of Liability

In no event shall Local Pegs, its officers, directors, employees, or agents be liable for any direct, indirect, incidental, special, consequential, or punitive damages arising out of or in connection with your use of our Service, whether based on warranty, contract, tort (including negligence), or any other legal theory, even if we have been advised of the possibility of such damages.


12. Indemnification

You agree to indemnify and hold harmless Local Pegs, its officers, directors, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or in connection with your use of our Service or any violation of these Terms and Conditions.


13. Governing Law

These Terms and Conditions shall be governed by and construed in accordance with the laws of Australia, without regard to its conflict of law provisions. Any dispute arising out of or in connection with these Terms and Conditions shall be subject to the exclusive jurisdiction of the courts of Australia.


14. Changes to Terms and Conditions

We reserve the right to modify or replace these Terms and Conditions at any time.

If we make any material changes to these Terms and Conditions, we will notify you by posting the updated version on our Site or App and indicating the effective date of the update. Your continued use of our Service after the effective date of any such changes constitutes acceptance of the modified Terms and Conditions.


If you have any questions or concerns about these Terms and Conditions, please contact us at info@localpegs.com.au.