Terms & Conditions

1. Agreement to Terms

1.1. These Terms and Conditions (“Terms”) govern your use of the hive.co.nz website (“Website”) and the associated online client portal (“Portal”), which is accessible via the Website and mobile app. Both are provided by Hive Funds Limited (“Hive”, “we”, “us”, or “our”).

1.2. By using the Website or Portal, you confirm that you accept and agree to these Terms and all applicable laws and regulations in New Zealand. If you disagree with any of these Terms, you must not use or access the Website or Portal.

1.3. We may update these Terms periodically. Any revised Terms will take effect immediately upon being posted on the Website. Your continued use of the Website or Portal after such posting means you accept the revised Terms.

1.4. Please note that the products offered by Hive are subject to separate terms and conditions, which are detailed in the Hive KiwiSaver Scheme Product Disclosure Statement.

2. Joining Hive KiwiSaver Scheme and receipt of information

2.1 By creating a username and password and hitting the ‘sign up’ button you agree to create a Hive account.

2.2 By providing your details, selecting investments and hitting the ‘submit’ or ‘confirm’ button (or authorising a financial adviser to do this for you) you agree to become a member of the Hive KiwiSaver Scheme, and acknowledge this means transferring from your current provider if you already have a KiwiSaver account somewhere else.

2.3 By providing a minor’s details, selecting investments and hitting the ‘submit’ or ‘confirm’ button (or authorising a financial adviser to do this for you) you agree to the minor becoming a member of the Hive KiwiSaver Scheme, and acknowledge this means transferring any existing KiwiSaver account for the minor from the current provider.

2.4 You acknowledge KiwiSaver investments are not guaranteed.

2.5 You consent to information, reports, documentation, annual statements and tax certificates being provided to you electronically including via the Portal.

3. Appropriate Use

3.1. You must not use the Website or Portal for any illegal, criminal, antisocial, fraudulent, dishonest, or malicious activities. This includes, but is not limited to:

• Attempting to gain unauthorised access to any section of the Website or Portal, accounts within the Portal, or the Portal’s backend systems.
• Engaging in activities that jeopardise the security, integrity, availability, or information of the Website or Portal.
• Distributing harmful code, malware, or phishing content through the Website or Portal.
• Harvesting or misusing the personal information or login credentials of other users, or information from the Website or Portal.
• Providing information that is false, inaccurate, incorrect, misleading, or untrue.
• Uploading content that is illegal, copyrighted, or otherwise objectionable.
• Any conduct that violates applicable laws, regulations, or the rights of others.

3.2. You agree to take all reasonable measures to prevent the introduction of harmful software to the Website or Portal.

3.3. We may take any action we deem necessary or appropriate to enforce our rights regarding the above clause, including, but not limited to, reporting to the Police, the Office of the Privacy Commissioner, our insurers, or the National Cyber Security Centre, and initiating court proceedings.

4. User Security

4.1. The Portal requires a unique username and password. You are responsible for maintaining the confidentiality of your username, password, and account, and for all activities that occur under your unique username. We will act on any login using your username and password, or any instruction made after such a login including any change to investments or personal information. You must protect your username and password at all times by:

• Taking all reasonable precautions to prevent others from observing you enter your username and password.
• Never leaving your device unattended while signed in to the Portal.
• Not sharing your password with anyone.
• Not keeping a written or electronic copy of your password.
• Using a password that is exclusively for your use of the Portal.
• Immediately notifying us if you know or suspect that another person knows your password.

4.2. Multiple people may be granted viewing access to your account, but each will require a separate, unique username and password. These Terms and Conditions apply equally to such persons.

4.3. Using another person’s username and password is strictly forbidden.

5. Personal Data

5.1. Hive’s Privacy Policy is incorporated into these Terms and Conditions.

5.2. You are responsible for ensuring that the personal information held on the Portal is accurate and current. You must notify us immediately of any changes to your personal information or if you become aware that it is inaccurate.

5.3. If you provide us with the personal information of another person, you warrant that you have obtained all necessary consents and authorisations to do so.

5.4. If you have instructed us to allow a third party (such as a financial adviser) to access your account and update your personal information (including investment allocations), you confirm that we are authorised to act on that third party’s instructions without further verification, and you agree that we are not liable for acting upon those instructions.

6. Hive Information Accuracy

6.1. Performance, balance, and price data shown on the Website or Portal represents a value at a specific point in time. These values are subject to change due to fluctuations in prices, exchange rates, and time periods, and should not be considered the actual buy or sell price you would receive if you were to transact on your account. Past performance is not a reliable indicator of future performance.

6.2. We do not guarantee the accuracy, sufficiency, or completeness of the information provided, nor that it is suitable for your intended purpose.

6.3. Clause 5 above addresses the terms and conditions related to your personal information and its use on the Website and Portal.

7. Calculators

7.1 You agree any calculators on the Website or Portal are for guidance only and understand the calculators do not provide nor replace financial advice.

8. Service Availability

8.1. We aim to keep service outages to a minimum by using our reasonable best efforts. However, the Website or Portal may be temporarily unavailable at times. You accept that we are not liable for any loss or damage resulting from a service outage.

8.2. We reserve the right to suspend or terminate your use of the Website or Portal at any time, without prior notice. You agree that we are not liable for any loss or damage resulting from such suspension or termination. If your personal information is normally accessed through the Portal, we will provide you with an alternative access method upon request.

9. Your Indemnification

9.1. You will be held liable for any loss (including consequential loss) we suffer as a result of your breach of these Terms. You will also be liable for any loss we suffer resulting from unauthorised access to your information on the Portal if that access was facilitated by your failure to comply with these Terms.

10. General Provisions

10.1. These Terms are governed by the laws of New Zealand.

10.2. All monetary amounts on the Website and Portal are in New Zealand Dollars (NZD) unless explicitly stated otherwise.

10.3. We own all copyright and intellectual property rights in the Website and Portal. You are permitted to reproduce or store content from the Website or Portal solely for your personal use, but you must not display or distribute the content publicly. We will enforce our intellectual property rights to the full extent of all applicable laws.

10.4. Our Website or Portal may contain hyperlinks to third-party websites. These links will take you outside our environment to third-party sites that are not operated by us. We do not review these third-party sites, and you access them at your own risk. We accept no liability for your access to these sites.