About the Kin App
Kin is an app for people to do money things together, better. We’re working with our customers to co-create Kin.
You can use Kin to create groups with others, where you keep a record of transactions. Kin will calculate how to split those transactions fairly, and will let everyone in the group know who owes who what. You can then use Kin to settle up with each other (i.e. pay each other) based on the calculation, either by payments in the app, or outside of Kin – easy and fair!
The Kin app is available on iOS or Android only.
Monthly Subscription: Free
Transaction Fees: For now, Kin subsidises transaction fees when you pay through the app
Sending and receiving money
1. Sending Limits
We may put limits on how much money you can send or receive through Kin. If we have authenticated your identity, we may increase your limits. These limits may change from time to time at Kin’s discretion. You may not send money to your own account.
2. Funding Source Limitations
To minimise risk, Kin may limit how many sources (for example, credit cards or bank accounts) you can use to fund any particular transaction.
Please note that different funding sources have different rights and procedures to resolve disputes and your rights are determined by the funding source for the transaction that is disputed.
3. Refused and Refunded Transactions
When you send money, the recipient does not have to accept it. In this case, Kin will refund the money. You agree that you will not hold Kin liable for any damages resulting from a recipient’s decision not to accept a payment made through Kin.
4. Fees for Sending Money
When you make payments through Kin, a transaction fee may be charged. These fees may change from time to time at Kin’s discretion, and will be displayed on our Fees Schedule. You may have to pay bank charges, for example insufficient fund fees or reversal fees. There may be a fee based on your banking package, for example transacting from a savings account usually has a “withdrawal/transaction” fee.
5. Payment Investigation
Payment investigation is when Kin reviews transactions that may be high-risk. If a payment is subject to payment investigation, Kin will place a hold on the payment and may notify the recipient. Kin will conduct a review and either clear or cancel the payment. If the payment is cleared, Kin will notify the recipient. Otherwise, Kin will cancel the payment and the money will be returned. Kin may notify you if the payment is cancelled.
6. Risk of Reversals, Chargebacks and Claims If you receive a payment through Kin that is later reversed for any reason, you are liable to Kin for the full amount of the payment plus any fees. If you send a payment and later dispute it or file a claim for a chargeback, the debit or credit card issuer or the originating bank, not Kin, will decide if the dispute is valid and who payment is due to.
You agree to allow Kin to recover any money due to it by debiting your account. If there is not enough money in your account to cover your liability, you agree to reimburse Kin through other means. If Kin can’t recover the money from your primary funding source, we may contact you, recover the money from alternate funding sources you may have, or take other legal actions to collect the amount due.
7. Account Errors
If your account history shows payments you did not make, please contact us: firstname.lastname@example.org
You agree not to use Kin to violate any law, statute, ordinance or regulation relating to sales of:
- counterfeit goods;
- narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety;
- drug paraphernalia;
- items that encourage, promote, facilitate or instruct others to engage in illegal activity;
- items that promote hate, violence, racial intolerance, or the financial exploitation of a crime;
- items that are considered obscene;
- items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the laws of any jurisdiction;
- certain sexually oriented materials or services;
- ammunition, firearms, or certain firearm parts or accessories, or certain weapons or knives regulated under applicable law;
- tobacco products;
- prescription drugs;
- devices involving gambling, gaming and/or any other activity with an entry fee and a prize, including but not limited to casino games, sports betting, horse or greyhound racing, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not it is legally defined as a lottery) and sweepstakes unless the operator has obtained prior approval from Kin and the operator and customers are located exclusively in jurisdictions where such activities are permitted by law.
You agree not to use Kin to violate any law, statute, ordinance, or regulation relating to transactions that:
- show the personal information of third parties in violation of applicable law;
- support pyramid or Ponzi schemes, matrix programs, other “get rich quick” schemes or certain multi-level marketing programs;
- are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card;
- are for the sale of certain items before the seller has control or possession of the item;
- are by payment processors to collect payments on behalf of merchants;
- are associated with the sale of traveller’s checks or money orders;
- involve currency exchanges or cheque cashing businesses;
- provide certain credit repair or debt settlement services;
- involve the sales of products or services identified by government agencies to have a high likelihood of being fraudulent;
- are otherwise related to illegal activity, gambling, pornography, obscene material or otherwise objectionable content or activities.