Frequently Asked Questions

Frequently Asked Questions

Can users pay with credit card?2023-10-13T13:13:56+13:00

Users can now pay for IPromise quotes by NZ Credit or Debit Card up to a limit of $10,000.

Does IPromise offer finance?2023-10-13T13:08:57+13:00

If you require finance to pay for work you need completed (like a house renovation / professional services) or if you are buying an item (like a car / electronics), you can apply for finance from our finance partner – Finance Now. See here for more info.

How does the free 90-day trial work?2023-10-13T13:32:40+13:00

All users have the opportunity to benefit from the full functionality of IPromise for 90 days. We have selected 90 days because most services (that our users provide) take weeks to quote, secure payment and then deliver. IPromise is committed to providing users with the opportunity to experience as many of the key features and benefits as possible.

After the 90 days, in order for users to receive payments from their customers (via our secure BNZ Trust account or escrow account), they will need to select from one of the three monthly subscription options. See our pricing page for more details.

However, all ‘Quoted’, ‘In Progress’ and ‘Completed Awaiting Approval’ projects within the 90-day trial period will continue to remain active and free until completion.

IPromise is ALWAYS free for your customers.

Start your free trial today.

Does IPromise integrate with Xero?2023-10-13T13:31:26+13:00

We now offer a Xero payment integration. Users can now connect their business Xero account to their IPromise account in seconds.

That means every time a quote is accepted by your customer and payment is released to you for a job completed, quotes and invoices are automatically mirrored to your Xero account.

Even better, that invoice is PAID – no debtors ledger, no outstanding invoices, no email or phone call payment reminders – only immediate payment on successful project completion with IPromise. Fair, secure and saving you valuable payment administration time.

See our explainer video here.

Can I use IPromise to manage construction and/or other retentions?2023-09-07T12:46:44+12:00

Yes, and it’s affordable and easy. Visit this page for more information. We can also help you make sure you are meeting the Construction Contracts (Retention Money) Amendment Act 2023 thanks to our partner Ford Sumner Lawyers / Tradie Law.

How much does it cost to use IPromise?2023-10-13T13:39:19+13:00
How do refunds work?2023-10-13T13:41:06+13:00

There are, at times, legitimate reasons for some or all of the money to be returned or refunded to the customer. Visit the Refunds / Disputes section of our website for more information.

How safe is my money?2023-10-13T13:48:13+13:00

IPromise has partnered with BNZ bank who holds the Trust Account (escrow account) on behalf of IPromise. Such an institution would only do so if they were satisfied in the controls, processes and credibility of IPromise. The Trust Deed available for your review explicitly says that IPromise can only act on instruction from the customer and the user or business.

IPromise also uses the industry standard and highly regarded Windcave to securely process all the payments within the IPromise system.

Cyber security is paramount and the gold standard of Microsoft security is used. You will note that through two factor authentication and Secure Socket Layer (SSL) protocols, your security is our priority.

For your added peace of mind, IPromise Limited (NZBN 9429049452358) operates within the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT) regulated by the DIA and is registered on the Financial Services Provider Register (FSP 1002306). We are a member of the Financial Services Complaints Limited Dispute Resolution Scheme (DRS 8793).

Why do I need to verify my identity?2023-10-13T13:41:58+13:00

NZ law requires companies like IPromise to comply with Anti-Money Laundering and Countering Financing of Terrorism Act 2009. We take this responsibility and your security seriously so we use the very best identification and verification process to protect you and us from any illegal conduct.

We have partnered with Cloudcheck, an industry leading identification and verification company who automate and integrate the process for us using real time technology. This also helps to ensure we collect accurate information about all users.

You can be sure we identify and verify all customers AND businesses so anyone using IPromise knows that people cannot be pretending to be someone they are not.

You may have noticed other sectors like lawyers, real estate agents and accountants requiring such checks.

How do I set up a deposit?2023-10-13T13:40:12+13:00

Watch the explainer video.

From time to time users might require a deposit, for example, to purchase materials. This is less likely than in traditional transactions because IPromise securely and transparently holds the customer payment so the user knows the money is physically there for immediate release once the customer is satisfied the job, or a ‘Stage’ of the job, is done.

The customer cannot take the money back unless you formally agree to it. If there isn’t agreement, IPromise outlines some recommended steps to work through. See here for more detail.

What happens if the business I’m working with goes into liquidation?2023-10-13T13:29:06+13:00

Q: As a customer, is my money safe in the IPromise secure BNZ Trust Account (escrow account) if the business becomes insolvent and / or put into liquidation?

A: Yes, it’s protected (unlike completely unsecured deposits many businesses request). Because the funds are held in trust away from the business / liquidator (in the secure BNZ Trust Account) until the customer agrees the job is completed (or until formal dispute resolution results in a determination of how the funds need to be applied). Neither the business, nor the liquidator has direct access to funds in our BNZ Trust Account (escrow account).

A business / liquidator would only have a claim against your money equal to what the business / liquidator is entitled to under contract / at law. Or in other words, if the business / liquidator can prove they have delivered the customer value then they are entitled to claim to receive that value. That is fair and reasonable – unlike those completely unsecured deposits many businesses request which can leave you scrambling to claim funds back if something goes wrong in the meantime.

What do I do if I have a ‘Variation’ to add to my project?2023-10-13T13:44:07+13:00

Watch the explainer video.

The process is exactly the same as staging projects. Once a project is ‘In-Progress’ and a variation is required, it is important to identify this early with your customer and communicate (ideally through the secure IPromise chat) to explain the reasons for the variation and that you are going to require a formal variation.

You then go into the project summary and click on ‘Add Stage / Variation’, and simply explain in the variation quote what the specific variation is and the amount. Send this to your customer – we recommend you do not start the work on the variation until the customer has secured the variation quote by paying the specified amount into the secure BNZ Trust Account (escrow account).

The customer’s protection, once again, is that you don’t get the money until the approved project (in this case, a variation to a project) is completed to the customer’s satisfaction.

What happens if there is a dispute about the project? i.e. Job quality, lack of delivery, delays.2023-10-13T13:47:15+13:00

Disputes happen today under the traditional way of transacting and often there is no documentation, transparency or fairness in the way projects (or jobs) are set up from the start. This is the major cause of disputes.

IPromise helps all parties to set up fair and transparent projects with a payment guarantee from the beginning. Both parties are also motivated to resolve the dispute as the money is safe and secure in the BNZ Trust Account (escrow account) until there is an agreement.

We have more information here on what to do including a helpful recommended process should you need some guidance.

What if I don’t know how much a job will cost?2023-10-13T13:34:22+13:00

The best way to cover investigations of faults (or unknown outcomes) is to quote and send the customer the minimum cost of the call out fee. For example, it might be one hour of your time and travel (if applicable). Don’t go to the job until your customer has paid the minimum amount into the secure BNZ Trust Account (escrow account). You can then attend the job, complete the investigation and add a variation to that ‘call out fee quote’ detailing the work you have found that is required to be actioned.

That way you have at least locked away the call out fee money for your valuable time and your customer is clear about what additional costs are required. They can then decide to proceed or otherwise with the remediation. The great thing about IPromise is that by completing the first ‘call out fee quote’ you have all the correct contact details for your customer saved in IPromise and future quotes are transparent and simple to manage from then on.

How do I provide feedback and ratings?2023-10-13T13:37:35+13:00

Watch the explainer video.

Ratings for the customer and business happen at the end of the transaction. It’s important to be constructive and fair. After a customer and business user receive 5 ratings the average will be displayed for other users to see. It’s good to keep this in mind throughout the project.

You can leave feedback for IPromise any time here. The IPromise team review feedback daily and your feedback helps to make what we do even better.

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