The deal, in plain English.

The plain-English version

What Sorted is

A peer-to-peer payments app for Australian residents. You top up Australian dollars from your bank via PayID, hold them as AUDD (an Australian-dollar stablecoin issued by AUDC Pty Ltd under its own AFSL), send to other Sorted users by @handle in seconds, and tap to pay with the Sorted card where it's available. Sending, receiving, topping up and holding are free.

What you agree to

• Be eligible. 18 or over, an Australian resident, with a valid Australian government ID and mobile number.
• Be honest. Use real details at signup. Misleading identity verification is fraud.
• Don't use Sorted for crime. Money laundering, sanctions evasion, fraud and similar are prohibited and reportable to AUSTRAC.
• Keep your account secure. Don't share your phone, biometrics or PIN. Tell us immediately if your phone is lost or stolen.
• Pay back what you owe. If a top-up is reversed on the bank side, you owe us the equivalent.

What we agree to

• Never hold your keys. Your AUDD sits in a wallet whose keys are generated and protected on your device by our wallet provider. Sorted can't move your money on its own.
• Charge you nothing for normal use. No fees to top up, send, receive or hold. If we ever introduce a fee for an optional extra, the price is on the screen before you tap.
• Keep Sorted Points honest. Points come from things you do (sending, tapping, referring). They are a loyalty program, not interest, and never depend on how much you hold.
• Be transparent about what we're doing, why, and when something changes.
• Reply to support within a business day.

What happens if there's a problem

• Sent to the wrong person? Sends to a handle are final once settled, like a bank transfer. Ask the recipient to send it back, and tell us so we can help.
• Sent to a number that never got claimed? You can undo it for 24 hours. We remind both of you after 12.
• Account frozen? Usually an AML/CTF check. We'll tell you what we can; the law sometimes limits the detail.
• Sorted goes down? Your AUDD is on Solana, not on our servers. It's still yours and can be exported or redeemed through the issuer.
• Disagreement with us? Email hello@paymentsorted.com with "Complaint" in the subject. Unresolved complaints can go to AFCA, Australia's external dispute resolution scheme for financial services.

The full version

1. Acceptance

By creating a Sorted account you agree to these Terms of Service ("Terms"), our Privacy Policy, and the terms of service published by the AUDD issuer, AUDC Pty Ltd.

2. Eligibility

You must be at least 18 years old, a permanent resident or citizen of Australia, and able to verify your identity to the standard required by AUSTRAC. We may refuse or suspend an account where verification cannot be completed or where we have reasonable concerns about lawful use.

3. The service

Sorted provides the interface for holding, sending and receiving AUDD, and for using the Sorted card. AUDD is issued by AUDC Pty Ltd and is not an obligation of Sorted Pty Ltd. Sorted does not pay interest or yield on balances.

4. Fees

Sorted does not charge fees for top-up, sending, receiving or holding. Optional extras may carry a fee that is disclosed on screen before you confirm. We will give at least 30 days' notice before introducing any fee on core features, during which you may withdraw your full balance free of charge.

5. Limits

Limits depend on your verification tier. Tier 1 accounts start at $10,000 per day and $5,000 per send. Tier 2 verification lifts these to $50,000 per day and $25,000 per send. Sorted may apply lower limits where AML/CTF risk indicators warrant, and higher limits may be available on request.

6. Sorted Points and the Sorted card

Sorted Points are a loyalty program. Points are earned only from actions such as sending, tapping the card or referring a friend, never from balance held or time elapsed. Points have no cash value, can't be transferred, and may be adjusted or withdrawn with notice. The Sorted card is issued on the Mastercard network and is subject to the card terms provided when it becomes available to you.

7. Liability

Subject to non-excludable consumer guarantees under the Australian Consumer Law, Sorted's liability for any claim arising under these Terms is limited to the greater of (a) the value of the transactions affected by the claim, or (b) AUD $1,000.

8. Termination

You may close your account at any time. Sorted may close your account where you breach these Terms, where required by law, or where we exit the market. If Sorted exits, you will receive at least 60 days' notice and full ability to withdraw your balance.

9. Disputes

Complaints should first be directed to hello@paymentsorted.com. Unresolved complaints relating to financial services may be escalated to the Australian Financial Complaints Authority (AFCA, afca.org.au). These Terms are governed by the laws of Queensland, Australia.

10. Changes

Sorted may update these Terms when our practices or the law change. Material changes will be notified in-app and by email at least 14 days before they take effect; you may close your account before the change takes effect if you don't agree.