Terms & Conditions (beta)

1. Who Is Tandym?

Tandym Group Limited (“Tandym”, “we”, “us”, or “our”) is a financial services provider incorporated in New Zealand (company number 9311501, NZBN 9429052593154). Address: PO Box 12198, Ahuriri, Napier, 4144, New Zealand.

Tandym lets people invest together in US stocks and ETFs - because investing is better together!

Tandym provides you access to the US share markets through our registered US broker partner Alpaca Securities LLC (Alpaca). When you sign up to Tandym, you’ll be allocated an individual brokerage account with Alpaca, which you will access through Tandym. In signing up to Tandym, you are also agreeing to Alpaca’s Customer Agreement. This is because your USD and US Shares are held for you by Alpaca. The latest copy of these documents can be found on Alpaca’s Disclosures and Agreements page. You will not be able to use the Tandym Platform if you do not agree and comply with these Terms & Conditions and the Alpaca Customer Agreement.

The custodian for all assets held through Tandym is Alpaca Securities LLC (“the Custodian”), a US company (Central Registration Depository number 288202) located at 12 E 49th St, Floor 11, New York, NY 10017, USA.

We can change our custodian at any time, and if we do you may be asked to agree to new terms and conditions with a new custodian.

All investments made on the Tandym platform are currently held and traded through Alpaca. Alpaca is FINRA/SEC registered and a Securities Investor Protection Corporation (SIPC) member with Excess SPIC coverage providing protection for any Alpaca customer with up to US$30 million in securities and US$1 million in cash.

You also appoint Tandym as your agent and grant Tandym authority to submit instructions to Alpaca on your behalf for as long as you continue to use this service. This appointment and authorisation is granted in accordance with the terms of the Alpaca Customer Agreement.

All services are provided under New Zealand law, and any disputes will be resolved in New Zealand courts unless otherwise required by law.

2. Who Can Use Tandym (Eligibility)

2.1 To open a Tandym Account, you must

(a) be a natural person aged 18 years or older;

(b) be a New Zealand tax resident;

(c) have a valid New Zealand residential address; and

(d) satisfy our identity and address verification requirements under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“AML/CFT Act”).

You also agree to update this information with us if it changes and provide additional information where we reasonably request it (including at the end of Beta testing).

2.3 We may decline any application to open an Account in our absolute discretion without providing any reasoning.

3. Nature of the Services - Important Things to Understand

3.1 Tandym is not a registered bank. Funds held in your Tandym Wallet or invested through the platform are not bank deposits and are not covered by any government deposit guarantee scheme.

3.2 We provide an online execution-only investment platform. We do not give financial advice. Any information, tools, research, or commentary we provide is general in nature and does not take your personal objectives, financial situation, or needs into account. Nothing on the platform or provided by us constitutes financial advice, investment advice, tax advice, or legal advice. You should consider seeking professional financial, taxation, and legal advice before making any investment decision.

3.3 All investments carry risk. The value of investments can go down as well as up, and you may get back less than you originally invested. Past performance is not indicative of future results.

3.4 Foreign exchange rates fluctuate. Investments denominated in foreign currencies carry currency risk in addition to market risk.

3.5 The platform is provided on an “as-is” and “as-available” basis. While we work hard to keep everything running smoothly, we cannot guarantee uninterrupted or error-free access at all times. We do not guarantee that the platform will be available 100% of the time, error-free, or free from viruses or other harmful components. We shall not be liable to you (or to any third party) for any loss, damage, or other consequences arising from your inability to access the Services or from the Services being unavailable, interrupted, or suspended at any time, for any reason.

3.6 To the extent permitted by law, we don't make any promises, representations, or warranties as to the accuracy of the content of our website or the Tandym Platform, or when or how you'll be able to access our service. Sometimes, we might direct you to other websites through links on our website. We can't control the content of those websites and won't be responsible for what you might find there. You should check the terms of use for those websites.

3.7 We may suspend or restrict access at any time for planned maintenance, unscheduled repairs, security incidents, legal requirements, or operational reasons. We will endeavour to provide reasonable notice where practicable.

4. Your Tandym Account and Wallet

4.1 Opening an account

To use most features you must create a Tandym account. The application process is fully digital and paperless.

You warrant that all information provided during registration and at any time thereafter is true, accurate, current, and complete.

You must notify us immediately of any change to your name, address, tax residency, IRD number, Prescribed Investor Rate (PIR), Resident Withholding Tax (RWT) rate, or bank account details.

Failure to provide accurate tax information may result in tax being deducted at the highest default rate and/or penalties from Inland Revenue.

4.2 Verification

We are required by law to verify your identity and address. We may also need to verify the source of funds in certain circumstances. You agree to provide accurate and complete information and to update us promptly if anything changes.

4.3 Electronic delivery of documents

By opening an account you consent to receive all statements, contract notes, tax certificates, confirmations, disclosures, and other communications electronically via the application or email.

4.4 Your Tandym Wallet

Your Tandym Wallet is a holding account for US-dollar cash that is available for investment or withdrawal. Money in the Wallet is held by the Custodian in trust for you in a pooled client trust account at one or more US-registered banks.

4.5 Deposits

Deposits can only be made from a New Zealand-registered bank account held in your name . We will provide you with a unique reference code - please use it, otherwise we may not be able to identify your payment. During Beta testing, we may require you to deposit your money directly into your individual Alpaca account. 

4.6 Withdrawals

Withdrawals are paid only to the verified New Zealand bank account nominated on your Tandym profile. You may change the nominated bank account by contacting support and completing any additional verification we require.

4.7 Negative balances

If your account goes into a negative cash balance (for example because of fees), we may deduct the amount from future deposits or from investment proceeds. In some cases we may require immediate repayment.

5. High-Interest on Funds in your Tandym Wallet may be available

5.1 Tandym may offer the ability to earn high-interest on funds that are held in your Tandym Wallet. This service is issued by our broker partner, Alpaca Securities LLC.

5.2 Tandym is not the issuer of the high-interest service. The service is governed by the issuing bank’s own terms and conditions, which you must accept before investing.

5.3 Interest rates are variable. Rates can change at any time without notice.

5.4 Interest is calculated daily and paid monthly in arrears. The rate shown on the platform is the current rate as at the time you view it.

5.5 Early withdrawal or break requests are subject to the issuing bank’s rules and may incur break fees or interest adjustments.

5.6 Tandym does not charge you any fees for placing money into this service, but we may receive a commission or trail payment from the issuing bank.

6. US Shares and US-Listed ETFs

6.1 Tandym offers access to thousands of individual US stocks and exchange-traded funds listed on NYSE, NASDAQ and other markets through a third-party executing broker.

● Buy and sell orders must be initiated via the Tandym platform. 
● Tandym will deliver any orders to Alpaca on your behalf. 
● You will receive the price achieved in the market plus any disclosed brokerage and foreign-exchange costs. 
● All orders are processed on a best-efforts basis only. We are not obliged to accept any particular order. 
● We may impose minimum investment amounts, daily limits, or other restrictions at any time. During Beta testing, the value of any single transaction must not exceed USD 5,000, and you cannot withdraw more than USD 2,000. Current limits are displayed on the platform and form part of this Agreement. 
● Transaction confirmations are issued electronically and are deemed correct unless you notify us of an error within 14 days of issue.

We cannot process your order if there are insufficient funds in your Wallet. If this occurs, or if any other issue prevents processing, we may cancel your order.

6.3 Settlement 

US equities are expected to settle on a T+2 basis (two business days after trade date). Funds from sales are normally available in your Wallet two US business days after the trade date. There may be delays initially or we may need to take a little longer for our own processes during our Beta testing phase. 

6.4 Currency conversion 

All US investments are held in USD. During Beta testing, before you deposit funds into your Tandym Wallet, you will need to convert NZD to USD, such as through apps like Revolut or Wise. When you withdraw your funds from Tandym, you will be paid in USD and it will be your responsibility to convert it back to NZD.  Tandym and Alpaca are not liable for any losses resulting from fluctuations in exchange rates or delays in conversion. 

6.5 Dividends and corporate actions 

Dividends are credited net of US withholding tax (usually 15% under the NZ–US tax treaty once we have a valid W-8BEN on file). Corporate actions such as splits, mergers, or optional actions are handled according to the broker’s default policy unless you instruct otherwise in time. You will generally not receive voting rights, proxy materials, or direct shareholder communications.

Tandym has no obligation to notify you, with respect to any securities you hold through Alpaca, of: 

- corporate actions (such as dividend elections, rights issues, delistings, name changes, or similar events); 

- dates or notices (including meeting notices, proxy statements, or proxy solicitation materials) for any shareholder meetings of the issuers of those securities; or 

- voting rights attached to the securities. 

The terms and conditions governing corporate actions, shareholder meetings, notices, and voting rights for securities are set out in the Alpaca Customer Agreement.

6.6 Risks specific to international equities

In addition to general market risk, you are exposed to currency risk, foreign tax risk, liquidity risk in smaller stocks, and potential delays or differences in corporate action treatment.

7. Tandym Group Operations (Group Charter)

During Beta testing, Groups will be created by Tandym and Group Members will be manually added by Tandym. This will allow you to invest alongside your Group Members. You are able to or become a member of multiple Groups. 

All investments that you make using Tandym are your investments, and are held on bare trust by the Custodian solely on your behalf. They are not owned by the Group.

7.1 Contributions 

Tandym will input:
- Group name – an identifier for each group.

Additional details may be entered by tandym (during beta):
- The expected Contribution amount - how much each Group Member must have available in their Tandym Wallet for each investment. 
- The anticipated Investment frequency - how often investments will be made by the Group. 

These settings will be stored in the Group Playbook settings for each Group, and are used to set an expectation for the Group’s intended investment activity. 

7.2 Proposing Investments 

At any time, any member of a Group is able to propose an investment to the Group. This proposal does not constitute financial advice. 

A Group Member can only propose an investment if they have the proposed investment amount available in their Tandym Wallet. 

Once an investment has been proposed, other Group Members are able to propose other investments alongside the original proposal. 

7.3 Voting on Investments 

Once an investment has been proposed, the Group must vote on the investment within the default timeframe. 

A Group Member can only vote on the proposal if they have the proposed investment amount available in their Tandym Wallet. 

The default success criteria will be used to assess if the outcome of the vote has been successful or not. If the vote is successful, we will instruct Alpaca to execute the trade. 

Success Criteria Options: 

- Majority = more than 50% of Group Members vote in favour (default) 
- Most = more than 70% of Group Members vote in favour 
- All = 100% of Group Members vote in favour 

The Success Criteria can be adjusted by the Group Administrator at any time. 

If the votes do not meet the success threshold within the default timeframe, then the investment proposal will be unsuccessful - therefore no order will be placed.  

7.4 Selling an investment 

At any time, any member of a Group is able to propose the sale of an investment to the Group. The Group would then vote on that proposal as per section for 8.4 of these Terms and Conditions. 

7.5 Leaving a Group  A Group Member is able to leave a Group at any time. The departing Group Member is able to either retain or sell any of their investments that they own. 

A Group Creator must nominate another Group Member to become Group Owner, and that Group Member must accept the nomination before they are able to leave a Group.

8. Fees and Costs

8.1 The complete and current fee schedule is published at tandym.co/pricing and is incorporated into these Terms by reference. 

8.2 Brokerage on US shares and ETFs is shown clearly before you confirm each trade. 

8.3 We may receive commissions or trails from banks or other product providers. These are disclosed in the relevant documentation. 

8.4 We reserve the right to change fees with reasonable notice (except where the fee is fixed by a third party). 

8.5 No pro-rata refunds are given except where required by law.

9. Tax

9.1 You must supply a valid IRD number and correct PIR at registration and immediately notify any change. Failure to do so authorises us to apply the default (highest) rate. 

9.2 You are responsible for your own tax obligations, including any overseas tax filings. Tandym does not provide tax advice and is not a registered tax agent. We recommend seeking advice from a tax adviser. 

9.3 Tax reports and certificates are expected to be available in your account each year but are not available during Beta testing. 

9.4 Tandym is not liable for any tax implications, and it is your responsibility to ensure that your details are up to date with the necessary regulatory body.

10. Your Responsibilities

10.1 By using our Services, you agree to comply with all applicable law (including any applicable laws and regulations in any other jurisdiction), these Terms, and any reasonable instructions we may provide.

10.2 You are solely responsible for maintaining the confidentiality of your username, password, and any two-factor authentication codes.

10.3 You must notify us immediately by email to support@tandym.co if you suspect any unauthorised access or security breach.

10.4 You must not:
(a) disclose your login details to any third party;
(b) use automated scripts, bots, or scraping tools;
(c) attempt to reverse-engineer, decompile, or disassemble any part of the platform;
(d) introduce viruses, malware, or other harmful code; or
(e) use the Services for any unlawful or fraudulent purpose.

10.5 You are fully responsible for all activity that occurs under your Account, as well as for your access to and use of the Services.

10.6 You are required to provide us with a valid email address, keep your Account contact information accurate and up to date at all times, and promptly notify us of any changes to such information.

10.7 Your Account is strictly personal and may only be used by you. No other person is permitted to access or use your Account unless we have expressly agreed otherwise in writing.

10.8 We reserve the right to suspend or terminate access immediately if we reasonably believe there has been a breach of security or these Terms.

11. Suspension or Termination

11.1 You may close your account at any time by withdrawing all investments and cash and requesting closure in writing. 

11.2 We may suspend or terminate your access immediately if we reasonably believe you have breached these terms, engaged in fraudulent or illegal activity, or if required by law. 

11.3 On closure, any remaining cash will be paid to your nominated bank account after deduction of outstanding fees and tax. 

11.4 Regardless of whether you or we close your Account, the following provisions apply: 

(a) You remain obligated to pay any amounts you owe us, even after closure of your Account; 
(b) We will not refund any fees or charges that were properly incurred; 
(c) Please refer to our Privacy Policy for details on how your personal information will be handled following Account closure; 
(d) Certain additional terms applicable to specific Services may set out further steps or consequences specific to that Service upon Account closure. 

11.5 Unclaimed money will be dealt with under the Unclaimed Money Act 1971.

12. Limitation of Liability and Indemnity 

To the maximum extent permitted by law: 

12.1 We are not liable for any indirect, consequential, or special loss, or for any loss of profit, data, or goodwill. 

12.2 Our total liability in connection with the platform is limited to NZ$10,000 or the value of your investments in the preceding 12 months, whichever is lower. 

12.3 You indemnify us against any claim, loss, or liability arising from your breach of these terms or misuse of the platform.

13. Intellectual property rights 

13.1 All content, branding, software, design, and intellectual property on the platform is owned by or licensed to Tandym and protected by copyright, trademark, and other laws. You are granted a limited, revocable, non-transferable licence to use the Services for your personal, non-commercial investment purposes only. 

Except where we have given you express written permission or where permitted by applicable law, you may not copy, modify, adapt, store, distribute, print, display, perform, publish, or redistribute any part of this website or any documents or materials we provide to you.

14. Privacy and Data Protection 

14.1 Our collection, use, storage, and disclosure of personal information is governed by our Privacy Policy available at tandym.co/privacy, which forms part of this Agreement.

15. Fair Use

Some features may be subject to fair usage limits to ensure the service remains reliable and available for all users. If we determine, in our reasonable discretion, that your usage is excessive, unreasonable, or breaches these Terms, we reserve the right to restrict or throttle your access, impose additional charges, or suspend or terminate your Account.

16. Complaints and Disputes 

16.1 If you have a complaint, in the first instance please contact us: 

- For informal queries, contact our support team at support@tandym.co 
- For formal complaints, contact us at complaints@tandym.co  

16.2 If we are unable to resolve your complaint in a satisfactory manner, you may refer the matter free of charge to our dispute-resolution provider - Financial Disputes Resolution Service (FDRS). They can be contacted on the details below. 

Financial Dispute Resolution Service (FDRS) 
Level 4, 142 Lambton Quay, Wellington 6011.   

Tandym is not licensed by a New Zealand regulator to provide the services described in these Terms and Conditions.   

Tandym’s membership of the FDRS does not mean that Tandym is subject to active regulation or oversight by a New Zealand regulator.

17. Governing Law 

These terms are governed by New Zealand law. You submit to the non-exclusive jurisdiction of the New Zealand courts. 

18. General Provisions 

18.1 If any part of these terms is found to be invalid or unenforceable, the remainder continues in full force. 

18.2 Our delay or failure to exercise a right does not constitute a waiver. 

18.3 We may assign or transfer our rights and obligations under these terms. You may not assign your rights without our consent. 

18.4 These terms, together with our Privacy Policy and any Product Terms, constitute the entire agreement between you and Tandym. 

18.5 To the extent that we have provided you with separate terms (or a separate agreement) specifically applicable to your Account, a particular product, or a particular service, and those terms conflict with these Terms, the special terms will prevail over these Terms. 

Thank you for choosing Tandym. We’re here to help you grow your wealth together - simply, transparently, and on your terms. 

Tandym Group Limited   

PO Box 12198, 
Ahuriri, 
Napier, 4144, 
New Zealand. 
support@tandym.co 
https://tandym.co